TCR_Public/150408.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, April 8, 2015, Vol. 19, No. 98

                            Headlines

AAR CORP: S&P Raises CCR to 'BB+', Off CreditWatch Positive
AMEDICA CORP: Mantyla McReynolds Expresses Going Concern Doubt
ARDENT MEDICAL: Moody's Puts B2 Corp Family Rating Under Review
BANKUNITED FINANCIAL: Opens Lending Office in Jacksonville
BEAR ISLAND: Debtor Reaches Deal on Allocation of Proceeds

BEAR ISLAND: Files Amended Notice of Committee Appointment
BEEHIVE BEAUTY: Case Summary & 14 Largest Unsecured Creditors
BLOOMIN' BRANDS: S&P Retains 'BB' CCR on Unit's Debt Add-On
BRIARWOOD ACQUISITION: Case Summary & 19 Top Unsecured Creditors
CAESARS ENTERTAINMENT: Top Executives May Never Get Debt Payments

CELLECTAR BIOSCIENCES: Grant Thornton Expresses Going Concern Doubt
CENTURY COMMUNITIES: Moody's Retains 'B3 'CFR on Notes Upsize
CENTURY COMMUNITIES: S&P Retains 'B' Rating Over Notes Add-on
CHRISTOPHER COVERT: Res Judicata Bars Later Suit vs. Claim Buyer
CONN'S INC: Taps Bank of America, Stephens for Loan Sale

DMP HOSPITALITY: Case Summary & 14 Largest Unsecured Creditors
DYNCORP INT'L: S&P Lowers CCR to 'B-', Outlook Negative
ELEPHANT TALK: Annual Report Includes Going Concern Opinion
ENDEAVOR ENERGY: Moody's Rates Proposed $300MM Unsec. Notes B3
ENDEAVOR ENERGY: S&P Assigns 'B' Rating on New Unsecured Notes

ENERSYS: Moody's Assigns Ba2 Rating on $300MM Sr. Unsecured Notes
ENERSYS: S&P Affirms 'BB+' Corp. Credit Rating; Outlook Stable
EVERYWARE GLOBAL: Expected to File for Bankruptcy
FAIRMONT GENERAL: April 15 Disclosure Statement & Plan Hearing
FNC CORPORATION: Case Summary & 18 Largest Unsecured Creditors

FREIF NAP I: S&P Assigns 'BB-' Rating to $295MM Credit Facilities
GENERAL MOTORS: Canada Sells Remaining Stake in Auto Maker
HARSCO CORP: S&P Lowers CCR to 'BB' on Weak Operating Performance
HARVEY REED: Split Widens on Sanctions for Claims Filing
HIPCRICKET INC: Plan Set for Confirmation Hearing on May 13

JONES SODA: Peterson Sullivan Expresses Going Concern Doubt
LAPRADE'S MARINA: Case Summary & 14 Largest Unsecured Creditors
LARICINA ENERGY: Alberta Court Names PwC as Monitor
LIBERTY TIRE: S&P Lowers CCR to 'SD', Off Watch Negative
LIFE PARTNERS: April 28 Hearing on Employment of Forshey & Prostok

LIFE PARTNERS: April 28 Hearing on Employment of Pronske Goolsby
LOUIS BULLARD: Supreme Court Hears Cases on Bankr. Appeals, Ch. 13
MATADOR RESOURCES: Moody's Rates New $350MM Unsecured Notes B3
MATADOR RESOURCES: S&P Assigns 'B' CCR; Outlook Stable
MCGRAW-HILL SCHOOL: S&P Revises Outlook to Neg, Affirms B+ CCR

MRI PLAYA VISTA: Case Summary & 2 Largest Unsecured Creditors
NATROL INC: Aurobindo Pharma Alleges Fraud by Former Owner
NATROL INC: Plan Goes to May 8 Confirmation Hearing
NII HOLDINGS: Speeds Toward Ch. 11 Trial as Judge Refuses Mediation
NII HOLDINGS: Wants To Pay Retention Bonuses to 25 More Workers

NORCRAFT COS.: S&P Puts 'B+' CCR on CreditWatch Positive
NORTH CHICAGO COMMUNITY: Moody's Lowers GO Rating to Ba1
OPTIM ENERGY: Amends DIP Milestone to Extend Delivery of Plan
PARADIGM HIGH: S&P Revises Outlook & Affirms 'BB-' Rating on Bonds
PATRIOT COAL: Bennett Hatfield Leaves President & CEO Post

POWIN CORP: Anton & Chia Expresses Going Concern Doubt
PRIME HEALTHCARE: S&P Raises CCR to 'B+'; Outlook Stable
PUERTO RICO ELECTRIC: Creditors Offer $2-Billion Capital Plan
RADIOSHACK CORP: Hires Ron Garriques as Top Executive
RB ENERGY: No Qualified Offers Received by Deadline

RD3J LTD: Voluntary Chapter 11 Case Summary
REVEL AC: Blames Power Plant Owner for Driving Off Potential Buyers
REVEL AC: Florida Developer Details $500M Plan for Atlantic City
REVEL AC: Wants Plan Filing Date Extended to June 30
SABINE OIL: Lenders May Cut Credit Line Significantly

SALTON SEA: S&P Lowers Rating on $285MM Sr. Bonds to 'B-'
SCHUYLER PROPERTIES: Case Summary & 3 Top Unsecured Creditors
SILICON GENESIS: Taps Development Specialists as Financial Advisors
SILICON GENESIS: Taps Schnader Harrison as Bankruptcy Counsel
STANDARD REGISTER: PBGC Objects to Sale Procedures

STANDARD REGISTER: PBGC, Pensioners Named to Creditors' Committee
SULLIVAN INT'L: Commences Ch. 11 Case to Secure Future
SULLIVAN INTERNATIONAL: Case Summary & 20 Top Unsecured Creditors
T-L CHEROKEE SOUTH: Proceedings on MB Claim Continued
T-L CONYERS: April 22 Hearing on Use of Cole Cash Collateral

TARA CHRISTOFF: Educ Loans Survive Only If Money Changes Hands
TELESOURCE SERVICES: Case Summary & 20 Top Unsecured Creditors
TELEXFREE LLC: Suit Accuses BofA of Doing Business After Shutdown
TOMI ENVIRONMENTAL: Wolinetz Expresses Going Concern Doubt
TRIGEANT HOLDINGS: Needs to Assign Material RR Contracts to Buyer

TUJAYS MACHINE: Involuntary Chapter 11 Case Summary
U.S. COAL: Seeks to Sell Assets of Licking River for $8.5-Mil.
UNIVERSAL HOSPITAL: S&P Lowers CCR to 'B-'; Outlook Stable
VALENCE TECHNOLOGY: Debt Swap Qualifies Banker for 'Success Fee'
VENOCO INC: S&P Lowers Corporate Credit Rating to 'SD'

VEROS ENERGY: Case Summary & 20 Largest Unsecured Creditors
VIPER VENTURES: Section 341(a) Meeting Set for April 29
WALL WORKS USA: Case Summary & 20 Largest Unsecured Creditors
WESTFIELD VILLAGE: Case Summary & 9 Largest Unsecured Creditors
WOODLAKE PARTNERS: Sale of Country Club, Four Lots to Steiner OK'd

XINERGY LTD: Case Summary & 30 Largest Unsecured Creditors
XINERGY LTD: Seeks Chapter 11 Bankruptcy Protection
[*] 626 Churches Filed for Chapter 11 Bankruptcy From 2006 to 2013

                            *********

AAR CORP: S&P Raises CCR to 'BB+', Off CreditWatch Positive
-----------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on AAR Corp. to 'BB+' from 'BB' and removed them from
CreditWatch, where they were placed with positive implications on
Feb. 24, 2015.  The outlook is stable.

At the same time, S&P raised the issue-level ratings on AAR's
convertible notes to 'BB-' from 'B+'.  The '6' recovery rating
indicates S&P's expectations of a minimal recovery (0%-10%) in a
payment default scenario.  S&P also raised the issue-level rating
on the 7.25% unsecured notes to 'BB+' from 'BB', but will withdraw
them once the redemption is complete.  The recovery rating on these
notes is '4' (at the high end of the 30%-50% range).

"The upgrade reflects our expectation that AAR's credit metrics
will improve after the redemption of its $325 million 7.25% notes
and following other debt pay-downs using proceeds from the Telair
divestiture, which will more than offset the lost earnings from
Telair," said Standard & Poor's credit analyst Tennille Lopez.  "It
also reflects our belief that management will maintain a ratio of
funds from operations to debt of 30% to 45%, despite a likely
increase in share repurchases under its $250 million board
authorization and any future acquisitions."

AAR has well-established positions in niche markets, but is exposed
to the cyclical and highly competitive, albeit currently strong,
commercial aerospace industry.  It is also exposed to declining
military sales.  Standard & Poor's believes the divestitures of
Telair will result in a somewhat smaller and less diversified
company; however, S&P believes it will allow AAR to focus on its
core service offerings to airlines and the military, including
maintenance, repair and overhaul, supply chain solutions, and
airlift, as well as mobility products.  AAR's defense-related
business, especially the airlift business, continues to suffer
because of the troop withdrawal from Afghanistan, but the company
has won some new contracts and is focused on pursuing other
opportunities.

The outlook is stable.  Although credit ratios will be quite strong
following the divestiture and related debt paydown, S&P expects
them to average in the "intermediate" range over the next two years
(including debt to EBITDA of 2.0x to 3.0x and FFO to debt of 30% to
45%) as the company will likely increase acquisitions and share
repurchases.  S&P also expects organic revenues and earnings will
grow modestly over that period as weak military demand offsets
strong commercial aviation sales.  Cash generation should remain
solid despite periodic increases in working capital to support new
programs.



AMEDICA CORP: Mantyla McReynolds Expresses Going Concern Doubt
--------------------------------------------------------------
Amedica Corporation filed with the U.S. Securities and Exchange
Commission on March 24, 2015, its annual report on Form 10-K for
the year ended Dec. 31, 2014.

Mantyla McReynolds, LLC, expressed substantial doubt about the
Company's ability to continue as a going concern, citing that the
Company has recurring losses from operations and negative operating
cash flows and needs to obtain additional financing to be compliant
with debt covenants through 2015.

The Company reported a net loss of $32.6 million on $22.8 million
of product revenue for the year ended Dec. 31, 2014, compared with
a net loss of $8.29 million on $22.31 million of product revenue in
the prior year.

The Company's balance sheet at Dec. 31, 2014, showed $47.6 million
in total assets, $40.7 million in total liabilities and total
stockholders' equity of $6.91 million.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/5s0VnX
                          
Amedica Corporation, a commercial-stage biomaterial company,
develops, manufactures, and sells a range of medical devices in
the United States.  It offers Valeo silicon nitride interbody
spinal fusion devices for use in the cervical and thoracolumbar
areas of the spine; Valeo stand-alone anterior lumbar
intervertebral fusion device; and a line of non-silicon nitride
spinal fusion products used by surgeons to promote bone growth and
fusion in spinal fusion procedures.  The company also develops
femoral heads for use in its total hip replacements; and femoral
condyle components for use in its total knee replacements.  It
markets and sells its products to surgeons and hospitals in the
United States, Europe, and South America through a network of
independent sales distributors.  The company has research and
development agreement with Kyocera Industrial Ceramics Corporation
to manufacture silicon nitride-based spinal fusion products and
product candidates.  Amedica Corporation was founded in 1996 and
is headquartered in Salt Lake City, Utah.

The Company reported a net loss of $4.93 million on $6 million of
product revenue for the three months ended Sept. 30, 2014, compared

to a net loss of $2.35 million on $5.3 million of product revenue
for the same period last year.

The Company's balance sheet at Sept. 30, 2014, showed $42.4
million in total assets, $30.4 million in total liabilities and
total stockholders' equity of $12.0 million.


ARDENT MEDICAL: Moody's Puts B2 Corp Family Rating Under Review
---------------------------------------------------------------
Moody's Investors Service placed the ratings of Ardent Medical
Services, Inc. under review, direction uncertain.  These include
the company's B2 Corporate Family Rating (CFR) and the B2-PD
Probability of Default Rating (PDR).  This action follows the
announcement that Ventas, Inc. [(P)Baa2 stable] will acquire Ardent
for approximately $1.8 billion.

The rating review reflects uncertainty regarding the final legal
and capital structure at a newly formed operating entity that, as
currently contemplated, is to be spun-off concurrent with Ventas'
acquisition of Ardent.  Moody's review will also focus on the
benefits and opportunities Ardent's partnership with Ventas could
create, including those that could support future growth.  Moody's
understands that as a REIT, Ventas is not permitted to own
operating subsidiaries, which limits any direct benefit that Ardent
would receive from being owned by an investment grade company.

Moody's notes that Ardent's existing credit facilities contain
change-of-control provisions, and the Rating Agency expects all of
Ardent's existing senior secured debt to be fully repaid at the
close of the transaction.  Any debt that remains following closure
of the transaction could be rated higher or lower than Ardent's
existing ratings, depending upon the post transaction capital
structure and business risks.

The ratings were placed under review, direction uncertain:

Corporate Family Rating at B2;

Probability of Default Rating at B2-PD;

Senior Secured first lien at B1 (LGD 3)

Senior Secured second lien at Caa1 (LGD 5)

Ardent Medical Services, Inc., based in Nashville, Tennessee, is a
wholly owned subsidiary of AHS Medical Holdings LLC (collectively
Ardent).  The company operates fourteen acute care hospitals in
three states.  Ardent is a privately held company with a
controlling interest in its outstanding shares held by Welsh,
Carson, Anderson & Stowe.


BANKUNITED FINANCIAL: Opens Lending Office in Jacksonville
----------------------------------------------------------
Colleen Michele Jones at Jacksonville Business Journal reports that
BankUnited Financial Corp. has opened a commercial real estate and
corporate lending office at 50 N. Laura Street in Jacksonville,
Florida.

Business Journal recalls that after BankUnited filed for Chapter 11
bankruptcy protection, the Federal Deposit Insurance Corp.
subsequently transferred control to a private equity group and the
new holding company is operated under a partnership of owners.  The
report says that in recent years, the institution has climbed its
way out of the bank failure and begun to build up its assets and
expand into new markets like Jacksonville.

Thomas M. Cornish, state president of Florida for BankUnited, said
in a statement, "During 2014, BankUnited's Florida division added
$1.2 billion in new loan growth, and Jacksonville's strong, growing
economy makes it an ideal market to expand our footprint throughout
the state."

                     About BankUnited Financial

BankUnited Financial Corp. (OTC Ticker Symbol: BKUNQ) --
http://www.bankunited.com/-- was the holding company for  
BankUnited FSB, the largest banking institution headquartered in
Coral Gables, Florida.  On May 21, 2009, BankUnited FSB was closed
by regulators and the Federal Deposit Insurance Corporation
facilitated a sale of the bank to a management team headed by John
Kanas, a veteran of the banking industry and former head of North
Fork Bank, and a group of investors that include W.L. Ross & Co.,
Blackstone Group, Carlyle and Centerbridge.  The new owners
installed Mr. Kanas as CEO and he sought to revamp BankUnited as a
commercial lender in south Florida.

BankUnited Financial and its affiliates filed for Chapter 11
protection (Bankr. S.D. Fla. Lead Case No. 09-19940) on May 22,
2009.  Stephen P. Drobny, Esq., and Peter Levitt, Esq., at Shutts
& Bowen LLP; Mark D. Bloom, Esq., and Scott M. Grossman, Esq., at
Greenberg Traurig, LLP; and Michael C. Sontag, at Camner, Lipsitz,
P.A., represent the Debtors as counsel.  Corali Lopez-Castro,
Esq., David Samole, Esq., at Kozyak Tropin & Throckmorton, P.A.;
and Todd C. Meyers, Esq., at Kilpatrick Stockton LLP, serve as
counsel to the official committee of unsecured creditors.

The banking unit had assets of $12.8 billion and deposits of $8.6
billion as of May 2, 2009.  The holding company, in its bankruptcy
petition, disclosed $37,729,520 in assets against $559,740,185 in
debts.  Aside from those assets, BankUnited said a "valuable"
asset is its $3.6 billion net operating loss carryforward.

Wilmington Trust Co., U.S. Bank, N.A., and the Bank of New York
were listed among the company's largest unsecured creditors in
their roles as trustees for security issues.  BankUnited estimated
the Bank of New York claim tied to convertible securities at
$184 million.  U.S. Bank and Wilmington Trust are owed
$120 million and $118.171 million on account of senior notes.

The Fourth Amended Joint Plan of Liquidation proposed by the
Official Committee of Unsecured Creditors of BankUnited Financial
became effective on March 9, 2012.


BEAR ISLAND: Debtor Reaches Deal on Allocation of Proceeds
----------------------------------------------------------
Estate BIPCO, LLC, formerly known as Bear Island Paper Company,
L.L.C., is seeking approval from the Bankruptcy Court of an Estate
Allocation Compromise and Settlement Agreement, dated as of Feb.
24, 2015.  The Debtor seeks approval of the Settlement together
with confirmation of the Debtor's proposed chapter 11 plan.

Jonathan L. Hauser, Esq., at Troutman Sanders LLP, relates that
confirmation of the Plan has been delayed pending the resolution of
certain complex, cross-border issues, including the allocation of
sale proceeds between the Debtor's estate and the estates of the
Canadian Debtors.  After nearly three years of extensive
good-faith, arm's-length negotiations among the Debtor, the
Canadian Debtors, and their respective key economic stakeholders,
the parties have reached a settlement that resolves all outstanding
issues and paves the path to confirmation of the Plan and
distributions to creditors.

The Debtor relates that the Settlement has the support of all major
stakeholders in this chapter 11 case.

The Estate Allocation Settlement Agreement fully resolves, among
other things, these Estate Allocation Issues:

  (a) Allocation of Sale Proceeds

      (i) Of the $75,109,000 in available cash from the Cash
Component:

          (A) $30,392,867 will be allocated to the Debtor's estate;
and

          (B) $44,716,133 will be allocated to the Canadian
Sellers' estates.

     (ii) To effectuate the foregoing,

          (A) $2,982,585 of funds in the Canadian Escrow Account
will be disbursed to the Debtor's estate and the balance will be
disbursed to the Canadian Sellers' estates; and

          (B) All of the funds in the U.S. Escrow Account will be
disbursed to the Debtor's estate.

    (iii) Of the CDN$1,288,182.96 in unused cash from the Fixed
Cash Amount:

          (A) CDN$257,636.59 will be allocated to the Debtor's
estate; and

          (B) CDN$1,030,546.37 will be allocated to the Canadian
Sellers' estates.

  (b) Professional Fee Repayment & Professional Fee Escrow
Allocation

      (i) The $5,325,860.95 held in the Professional Fee Escrow for
the benefit of Lazard and Rothschild will be resolved as follows:

          (A) $561,048.39 will be disbursed to Rothschild in
exchange for a release, as payment in full, of all amounts owed by
the Debtor and Canadian Sellers to Rothschild.

          (B) The Debtor will pay $300,000 to Lazard in exchange
for a release as payment in full, of all amounts owed by the
Debtor and Canadian Sellers to Lazard.13

          (C) The remaining $3,564,812.56 in principal, plus
accrued interest will be disbursed to the Canadian Sellers'
estates.

  (c) Intercompany Claim

      (i) All intercompany claims asserted against the Debtor,
including, without limitation, the Intercompany Claim asserted in
the amount of $135,920,395 will be disallowed in full. Upon entry
of the Confirmation Order, the Intercompany Claim will be
disallowed in full and all litigation related to the Intercompany
Claim will be dismissed.

  (d) Allowance of First Lien Lender Claims & Second Lien Lender
Claims

      (i) The joint and several claims of the First Lien Lenders
and all swap claims, in the aggregate amount of $424,897,392, and
the joint and several claims of the Second Lien Lenders, in an
aggregate amount of $105,078,888, will be allowed in their entirety
in the full amount.  Such claims will not be subject to any
defenses, objection, reduction, setoff or disallowance in either
proceeding, for any reason.

  (e) Releases

     (i) Each party to the Estate Allocation Settlement Agreement
fully releases each other from any and all claims, including those
claims relating to, arising from or connected to, the Estate
Allocation Issues.

A hearing is scheduled for May 13, 2015 at 2:00 p.m. (ET).
Objections are due May 6, 2015.

A full-text copy of the Settlement Motion is available for free
at:
http://bankrupt.com/misc/Bear_Island_Estate_Settlement.pdf

                         About Bear Island

Canada-based White Birch Paper Company was the second largest
newsprint producer in North America.  As of Dec. 31, 2009, the
White Birch Group held a 12% share of the North American newsprint
market and employed roughly 1,300 individuals (the majority of
which reside in Canada).  Bear Island Paper Company, L.L.C., is a
U.S.-based unit of White Birch.

Bear Island filed a voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Va. Case No. 10-31202) on Feb.
24, 2010.  At June 30, 2011, the Company had $141.9 million in
total assets, $153.2 million in total liabilities, and a
stockholders' deficit of $11.3 million.

White Birch filed for bankruptcy protection under Canada's
Companies' Creditors Arrangement Act, before the Superior Court
for
the Province of Quebec, Commercial Division, Judicial District of
Montreal, Canada.  White Birch and five other affiliates -- F.F.
Soucy Limited Partnership; F.F. Soucy, Inc. & Partners, Limited
Partnership; Papier Masson Ltee; Stadacona Limited Partnership;
and
Stadacona General Partner, Inc. -- also sought bankruptcy
protection under Chapter 15 of the U.S. Bankruptcy Code (Bankr.
E.D. Va. Case No. 10-31234).  Jonathan L. Hauser, Esq., at
Troutman
Sanders LLP, in Virginia Beach, Virginia Beach, serves as counsel
to White Birch in the Chapter 11 case.

Richard M. Cieri, Esq., Christopher J. Marcus, Esq., and Michael
A.
Cohen, Esq., at Kirkland & Ellis LLP, in New York, serve as
counsel
to Bear Island.  Jonathan L. Hauser, Esq., at Troutman Sanders
LLP,
in Virginia Beach, Virginia, serve as co-counsel to Bear Island.

AlixPartners LLP serves as financial and restructuring advisors to
Bear Island, and Lazard Freres & Co., serves as investment banker.
Garden City Group is the claims and notice agent.  Jason William
Harbour, Esq., at Hunton & Williams LLP, in Richmond, Virginia,
represents the Official Committee of Unsecured Creditors.

Chief Judge Douglas O. Tice, Jr., handles the Chapter 11 and
Chapter 15 cases.

Bear Island was authorized by the bankruptcy judge in November
2010
to sell the business to a group consisting of Black Diamond
Capital
Management LLC, Credit Suisse Group AG and Caspian Capital
Advisors
LLC.  The sale closed in September 2012.

The caption for Bear Island's case was changed to "Estate BIPCO,
LLC" as required by the asset sale agreement.

Under a plan proposed for Bear Island, first- and second-lien
creditors  with $424.9 million and $105.1 million in claims,
respectively, are expected to recover between 0.5 percent and 4
percent.  Unsecured creditors with $1.4 million in claims are to
receive the same dividend.


BEAR ISLAND: Files Amended Notice of Committee Appointment
----------------------------------------------------------
The U.S. Trustee for Region 4 notified the U.S. Bankruptcy Court
for the Eastern District of Virginia that as of March 31, 2015, the
three creditors serving on Bear Island Paper Co LLC's official
committee of unsecured creditors are:

   (1) Falling Creek Log Yard Inc.
       Attn: Micelle Gilman
       P.O. Box 644
       Ashland, VA 23005
       Phone: 804-798-6121
       Fax: 804-798-6151
       E-mail: fallingcrk@aol.com

   (2) Hanover County
       Attn: Rebecca Randolph
       P.O. Box 470
       7516 County Complex Road
       Hanover, VA 23069-0470
       Phone: 804-365-6035
       Fax: 804-365-6302
       E-mail: rbrandolph@co.hanover.va.us

   (3) Voith Paper Fabrics & Rolls Systems, Inc.
       Attn: Stephanie Vincent
       Legal Department
       2200 N. Roemer Road
       Appleton, WI 54911
       Phone: 920-358-2204
       Fax: 920-731-1391
       E-mail: stephanie.vincent@voith.com

                            About Bear Island

Canada-based White Birch Paper Company was the second largest
newsprint producer in North America.  As of Dec. 31, 2009, the
White Birch Group held a 12% share of the North American newsprint
market and employed roughly 1,300 individuals (the majority of
which reside in Canada).  Bear Island Paper Company, L.L.C., is a
U.S.-based unit of White Birch.

Bear Island filed a voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Va. Case No. 10-31202) on Feb.
24, 2010.  At June 30, 2011, the Company had $141.9 million in
total assets, $153.2 million in total liabilities, and a
stockholders' deficit of $11.3 million.

White Birch filed for bankruptcy protection under Canada's
Companies' Creditors Arrangement Act, before the Superior Court for
the Province of Quebec, Commercial Division, Judicial District of
Montreal, Canada.  White Birch and five other affiliates -- F.F.
Soucy Limited Partnership; F.F. Soucy, Inc. & Partners, Limited
Partnership; Papier Masson Ltee; Stadacona Limited Partnership; and
Stadacona General Partner, Inc. -- also sought bankruptcy
protection under Chapter 15 of the U.S. Bankruptcy Code (Bankr.
E.D. Va. Case No. 10-31234).  Jonathan L. Hauser, Esq., at Troutman
Sanders LLP, in Virginia Beach, Virginia Beach, serves as counsel
to White Birch in the Chapter 11 case.

Richard M. Cieri, Esq., Christopher J. Marcus, Esq., and Michael A.
Cohen, Esq., at Kirkland & Ellis LLP, in New York, serve as counsel
to Bear Island.  Jonathan L. Hauser, Esq., at Troutman Sanders LLP,
in Virginia Beach, Virginia, serves as co-counsel to Bear Island.

AlixPartners LLP serves as financial and restructuring advisors to
Bear Island, and Lazard Freres & Co., serves as investment banker.
Garden City Group is the claims and notice agent.  Jason William
Harbour, Esq., at Hunton & Williams LLP, in Richmond, Virginia,
represents the Official Committee of Unsecured Creditors.

Chief Judge Douglas O. Tice, Jr., handles the Chapter 11 and
Chapter 15 cases.

Bear Island was authorized by the bankruptcy judge in November 2010
to sell the business to a group consisting of Black Diamond Capital
Management LLC, Credit Suisse Group AG and Caspian Capital Advisors
LLC.  The sale closed in September 2012.

The caption for Bear Island's case was changed to "Estate BIPCO,
LLC" as required by the asset sale agreement.

Under a plan proposed for Bear Island, first- and second-lien
creditors with $424.9 million and $105.1 million in claims,
respectively, are expected to recover between 0.5 percent and 4
percent.  Unsecured creditors with $1.4 million in claims are to
receive the same dividend.


BEEHIVE BEAUTY: Case Summary & 14 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Beehive Beauty School, LLC
        7207 Turner Lake Road NW
        Covington, GA 30014

Case No.: 15-56423

Chapter 11 Petition Date: April 6, 2015

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Debtor's Counsel: Evan M. Altman, Esq.
                  Building 2
                  8325 Dunwoody Place
                  Atlanta, GA 30350-3307
                  Tel: (770) 394-6466
                  Fax: (678) 405-1903
                  Email: evan.altman@laslawgroup.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Sandra Walden, managing member.

A list of the Debtor's 14 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ganb15-56423.pdf


BLOOMIN' BRANDS: S&P Retains 'BB' CCR on Unit's Debt Add-On
-----------------------------------------------------------
Standard & Poor's Ratings Services said that Bloomin' Brands Inc.'s
subsidiary, OSI Restaurant Partners LLC's recent amendment to
increase its revolving credit facility to $825 million from $600
million in order to fully pay down its existing term loan B, has no
immediate impact on S&P's 'BB' corporate credit rating or stable
outlook on the company and its subsidiary.  The amendment would
save the company in interest costs, but does not have a meaningful
impact on its credit ratios.  The amendment does not affect any
meaningful aspects of the credit agreement including maturity and
financial covenants.  Therefore, S&P expects the company's
financial risk profile to remain "significant" following this
amendment.

RATINGS LIST

Bloomin' Brands Inc.
OSI Restaurant Partners LLC
Corporate Credit Rating            BB/Stable/--

OSI Restaurant Partners LLC
$825M revolving credit facility    BBB-
  Recovery rating                   1



BRIARWOOD ACQUISITION: Case Summary & 19 Top Unsecured Creditors
----------------------------------------------------------------
Debtor: Briarwood Acquisition LLC
        P.O. Box 207
        Waban, MA 02468

Case No.: 15-20596

Chapter 11 Petition Date: April 6, 2015

Court: United States Bankruptcy Court
       District of Connecticut (Hartford)

Judge: Hon. Julie A. Manning

Debtor's Counsel: Jenna N. Sternberg, Esq.
                  LAW OFFICE OF PATRICK W. BOATMAN, LLC
                  111 Founders Plaza, Suite 1000
                  East Hartford, CT 06108
                  Tel: (860) 291-9061
                  Fax: 860-291-9073
                  Email: jsternberg@boatmanlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by John F. Daley, authorized agent.

A list of the Debtor's 19 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ctb15-20596.pdf


CAESARS ENTERTAINMENT: Top Executives May Never Get Debt Payments
-----------------------------------------------------------------
Howard Stutz, writing for Casinocitytimes.com, reports that top
Caesars executives may never receive payment of the millions owed
to them.

According to Casinocitytimes.com, Caesars Entertainment Corp.
owes:

      (a) $71,427 to chairman Gary Loveman;

      (b) more than $6.67 million to retired Harrah's
          Entertainment chairman and CEO Phil Satre;

      (c) $126,364 to Caesars Chief Financial Officer Eric
          Hession;

      (d) $19,318 to CECO CEO John Payne; and

      (e) $116,353 to former Harrah's executive Michael
          Silberling, now CEO of Affinity Gaming.

Mr. Loveman, Casinocitytimes.com relates, said that he is hopeful a
way will be found to remove the deferred compensation plan from the
bankruptcy.  Citing Mr. Loveman, the report states that the casino
operator is also looking for creative ways to restore retirement
benefits halted to 63 retirees owed almost $33 million through a
separate supplemental employee retirement plan.

According to filings with the U.S. Bankruptcy Court, there are a
total of 14,962 individuals and businesses with claims in the
operating unit's bankruptcy.

                    About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.,
is one of the world's largest casino companies.  Caesars casino
resorts operate under the Caesars, Bally's, Flamingo, Grand
Casinos, Hilton and Paris brand names.  The Company has its
corporate headquarters in Las Vegas.  Harrah's announced its
re-branding to Caesar's in mid-November 2010.

In January 2015, Caesars Entertainment and subsidiary Caesars
Entertainment Operating Company, Inc., announced that holders of
more than 60% of claims in respect of CEOC's 11.25% senior secured
notes due 2017, CEOC's 8.5% senior secured notes due 2020 and
CEOC's 9% senior secured notes due 2020 have signed the Amended and
Restated Restructuring Support and Forbearance Agreement, dated as
of Dec. 31, 2014, among Caesars Entertainment, CEOC and the
Consenting Creditors.  As a result, The RSA became effective
pursuant to its terms as of Jan. 9, 2015.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10% second lien notes in the company, filed an involuntary
Chapter 11 bankruptcy petition against CEOC (Bankr. D. Del. Case
No. 15-10047) on Jan. 12, 2015.  The bondholders are represented by
Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor, LLP.

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill.  Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

Delaware Bankruptcy Judge Kevin Gross entered a ruling that the
bankruptcy proceedings will proceed in the U.S. Bankruptcy Court
for the Northern District of Illinois.

Kirkland & Ellis serves as the Debtors' counsel.  AlixPartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.

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

The U.S. Trustee appointed Richard S. Davis as Chapter 11 examiner.


CELLECTAR BIOSCIENCES: Grant Thornton Expresses Going Concern Doubt
-------------------------------------------------------------------
Cellectar Biosciences, 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 that the Company has
incurred losses since its inception and, as of Dec. 31, 2014 has an
accumulated deficit of $59.2 million.

The Company reported a net loss of $8.11 million for the year ended
Dec. 31, 2014, compared with a net loss of $10.78 million in 2013.

The Company's balance sheet at Dec. 31, 2014, showed $13.4 million
in total assets, $2.67 million in total liabilities, and total
stockholders' equity of $10.75 million.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/HBWhsi
                          
Cellectar Biosciences, Inc., is a biopharmaceutical company that
develops compounds for the treatment and imaging of cancer.  The
Madison, Wisconsin-based Company was formerly known as Novelos
Therapeutics, Inc.


CENTURY COMMUNITIES: Moody's Retains 'B3 'CFR on Notes Upsize
-------------------------------------------------------------
Moody's Investor Service said that the upsizing of the senior
unsecured notes of Century Communities, Inc. does not impact its B3
rating or stable outlook.  This is a $50 million upsize of
Century's $200 million of 6.875% notes due May 2022 that were
issued in May 2014.  Proceeds of the upsized notes will be used for
repayment of outstanding revolver balances, acquisitions and land
development, and for general corporate purposes.  The B3 rating on
Century's existing senior unsecured notes and the stable rating
outlook were unaffected.

The stable rating outlook is based on Moody's expectation of the
company's continued strong financial performance, acceptable debt
leverage, and adequate liquidity.

These ratings were unaffected:

  B3 Corporate Family Rating;
  B3-PD Probability of Default;
  B3 (LGD4) rating on the $200 million
   of existing senior unsecured notes due 2022;

Stable rating outlook.

RATINGS RATIONALE

The B3 Corporate Family Rating reflects Century's small size and
scale as well as its limited geographical diversity.  In addition,
we anticipate that Century will be cash flow negative in 2015,
owing to its land investments, and the company's expansion goals
will likely keep free cash flow negative in later years as well.
The company has ramped up acquisition activity in recent years,
acquiring four companies since September 2013, the latest of which
was the Peachtree Communities in Atlanta for $57 million.  Moody's
anticipate this appetite for acquisitions will continue in the
coming years as the company aggressively seeks growth and expansion
of its geographical footprint.

At the same time, however, Century has a currently moderate debt
leverage profile (i.e., a pro forma adjusted homebuilding debt to
capitalization of 44%), generates solid financial metrics, made it
through the downturn intact, and is located in several healthy
homebuilding markets in Colorado and Texas and, more recently, in
Las Vegas and Atlanta.

Moody's regards Century's liquidity as adequate, reflecting the
company's pro forma cash balance at Dec. 31, 2014 of approximately
$83 million, its approximately $100 million of availability under
its $120 million senior unsecured revolver due 2017, and its lack
of significant debt maturities until 2022.  At the same time,
however, Moody's expectation of Century's negative free cash flow
generation in 2015 and beyond, the limited alternate liquidity
resources that Century possesses (e.g., receivables that could be
monetized), and the necessity for it to comply with financial
maintenance covenants in its revolver constrain its liquidity
position.

The rating could benefit if the company were to grow its size and
scale considerably while maintaining prudent debt leverage and
reasonable liquidity.

The outlook and/or rating could come under pressure if company
burns through its liquidity options, raises debt leverage beyond
60%, generates EBIT interest coverage below 1.5x, and/or suffers a
decrease in gross margins below 18%.  This compares to current
actual levels on these metrics of 38.9%, 3.0x, and 21.6%,
respectively, as of Dec. 31, 2014.

Founded in 2002 and headquartered in Greenwood Village, CO, Century
Communities, Inc., currently operates within major metropolitan
markets in Colorado and Central Texas, and more recently in Las
Vegas and Atlanta.  The company designs single-family attached and
detached homes targeting entry-level, first and second-time move-up
buyers, and move-down buyers.  Century completed a 144A equity
offering in 2013 after which the founding family maintained a
one-third ownership stake in the company, with the remaining
two-thirds controlled by numerous institutional investors.  In
2014, the company generated approximately $362 million in total
revenues and $20 million net income.



CENTURY COMMUNITIES: S&P Retains 'B' Rating Over Notes Add-on
-------------------------------------------------------------
Standard & Poor's Ratings Services said that its ratings on Century
Communities Inc. are not affected by the company's proposed $50
million add-on to its existing $200 million 6.875% senior unsecured
notes due 2022.  S&P expects the company to use proceeds to pay
down the outstanding balance on its unsecured revolving credit
facility, with the remainder held as cash to fund working capital
and future spending on land acquisition and development, as well as
for general corporate purposes.

The 'B' corporate credit rating on Denver-based Century reflects
S&P's view of the homebuilder's business risk profile as
"vulnerable" and its financial risk profile as "aggressive."  The
stable outlook is based on S&P's expectation the company will drive
EBITDA growth in 2015 and 2016 by increasing the average active
community count against the backdrop of a continuing U.S. housing
recovery, with minimal to flat housing price appreciation. S&P's
forecast indicates that leverage will improve to the mid-4x range
over the next two years.

Ratings List

Century Communities Inc.
Corporate Credit Rating                        B/Stable/--

Rating Unchanged

Century Communities Inc.
$250 mil 6.875% sr unsecd notes due 2022*      B
  Recovery Rating                               3H

*Includes $50 million add-on.



CHRISTOPHER COVERT: Res Judicata Bars Later Suit vs. Claim Buyer
----------------------------------------------------------------
Bill Rochelle, writing for Bloomberg News, reported that a March 3
opinion from the U.S. Court of Appeals for the Fourth Circuit held
that an individual bankrupt who doesn't object to a creditor's
claim is barred by the principle of res judicata from suing later
and claiming violation of federal or state consumer protection
laws.

The report related that five individuals went through Chapter 13
and emerged with confirmed plans.  A purchaser of consumer
receivables filed claims against all of them and the bankrupts
never objected to any of the claims.  After confirmation, the five
initiated a class suit, contending the claim buyer violated the
federal Fair Debt Collection Practices Act and Maryland
consumer-protections laws because it wasn't licensed in that state,
the report added.

According to the report, writing for the three-judge panel, Circuit
Judge Dennis W. Shedd upheld dismissal of the suit, although on
grounds different from the district court.  Judge Shedd said that
the principle of res judicata bars not only claims that were
litigated but also those that could have been.  He said that
defects in the purchased claims could have been raised in
bankruptcy court, the report related.

The case is Covert v. LVNV Funding LLC, 14-1016, U.S. Fourth
Circuit Court of Appeals (Richmond).


CONN'S INC: Taps Bank of America, Stephens for Loan Sale
--------------------------------------------------------
Nick Turner, writing for Bloomberg News, reported that Conn's Inc.,
the furniture and appliance chain saddled with loans that customers
didn't repay, has hired Bank of America Corp. and Stephens Inc. to
pursue the sale of some or all of its loan portfolio.  According to
the report, citing a company statement, Conn's also may consider
refinancing the loans, but no timetable has been set for the
effort.


DMP HOSPITALITY: Case Summary & 14 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: DMP Hospitality LLC
           dba El Mio Motel
        13333 N. Stemmons Freeway
        Farmers Branch, TX 75234

Case No.: 15-31508

Chapter 11 Petition Date: April 6, 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

Total Assets: $1.27 million

Total Liabilities: $1.88 million

The petition was signed by Deepak Patel, owner.

A list of the Debtor's 14 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txnb15-31508.pdf


DYNCORP INT'L: S&P Lowers CCR to 'B-', Outlook Negative
-------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on U.S.-based DynCorp International Inc. to 'B-' from 'B'.
The outlook is negative.  At the same time, S&P lowered the
issue-level ratings on the company's secured debt to 'B+' from
'BB-', with a '1' recovery rating, indicating S&P's expectation of
very high recovery (90%-100%) in a simulated payment default
scenario. Also, S&P lowered the unsecured debt rating to 'CCC' from
'CCC+', with a '6' recovery rating, indicating expectations for
negligible recovery (0%-10%) in a payment default.

"The downgrade reflects our increased uncertainty about future
earnings because of heightened competition, lower margins, and the
chance the company may lose a significant contract," said Standard
& Poor's credit analyst Chris Mooney.

DI's proposal on the recompete related to the Bureau of
International Narcotics and Law Enforcement's (INL) Air Wing
program with the U.S. State Department--a contract it has held for
23 years--was originally excluded from consideration because it was
ruled outside of the competitive range.  DI successfully protested
this decision and the proposal is currently being reconsidered by
the customer.

"We believe DI will continue work on the contract through October
2015, but DI's sales levels could drop thereafter if it ultimately
loses the award," said Mr. Mooney.

The negative rating outlook reflects Standard & Poor's uncertainty
about future earnings and cash flow because of significant exposure
to lower U.S. defense spending and shifting U.S. foreign policies,
combined with increased competition for new awards, which could
potentially make refinancing upcoming maturities more challenging.

S&P could lower the rating over the next year if there was a
deterioration in the company's liquidity profile including covenant
violations that cannot be cured or the lack of a credible plan to
extend the maturity of the term loan and revolver due July 2016 as
that date approaches.  S&P could also lower the rating if DI's
financial commitments appear unsustainable in the long-term.

S&P could revise the outlook to stable if the company is able to
extend its maturity profile and stabilize operational performance
such that debt to EBITDA remains at or below 7x.



ELEPHANT TALK: Annual Report Includes Going Concern Opinion
-----------------------------------------------------------
Elephant Talk Communications Corp., a global provider of Software
Defined Network Architecture (ET Software DNA(R)2.0) platforms and
cyber security solutions, on April 6 announced that, as previously
disclosed in its Annual Report on Form 10-K for the year ended
December 31, 2014, which was filed on April 1, 2015, the audited
financial statements for the year ended December 31, 2014 included
in the Form 10-K contained an audit opinion from its independent
registered public accounting firm which includes a going concern
qualification.

This announcement is made pursuant to NYSE MKT Company Guide
Section 610(b), which requires separate disclosure of receipt of an
audit opinion containing a going concern qualification.

                       About Elephant Talk

Lutz, Fla.-based Elephant Talk Communications, Inc. (OTC BB: ETAK)
-- http://www.elephanttalk.com/-- is an international provider of
business software and services to the telecommunications and
financial services industry.

Elephant Talk reported a net loss of $22.1 million in 2013, a net
loss of $23.1 million in 2012 and a net loss of $25.3 million in
2011.  As of Sept. 30, 2014, the Company had $40.6 million in total
assets, $18.4 million in total liabilities and $22.2 million in
total stockholders' equity.


ENDEAVOR ENERGY: Moody's Rates Proposed $300MM Unsec. Notes B3
--------------------------------------------------------------
Moody's Investors Service assigned a B3 rating to Endeavor Energy
Resources, L.P.'s (Endeavor) proposed $300 million senior unsecured
notes.  Net proceeds from the issuance will be used to repay the
outstanding borrowings under the company's borrowing base revolving
credit facility due 2019, which will be followed by a reduction in
the borrowing base to $1.125 billion from $1.2 billion.  All
existing ratings, including the B1 Corporate Family Rating (CFR),
are unchanged and the outlook remains negative.

Assignments:

Issuer: Endeavor Energy Resources, L.P.

  NEW $300 million Senior Unsecured Notes, Assigned B3, LGD5

RATINGS RATIONALE

The B3 ratings on Endeavor's proposed and existing senior unsecured
notes reflects their subordination to the company's borrowings
under its $1.125 billion borrowing base revolving credit facility
due 2019.  These borrowings have a priority claim to the company's
assets.  The size of the claims relative to Endeavor's outstanding
senior unsecured notes results in the notes being rated two notches
below the B1 CFR under Moody's Loss Given Default methodology.

The net proceeds of approximately $294 million from the proposed
senior notes issuance will be used to reduce the outstanding
borrowings under the company's borrowing base revolving credit
facility to $606 million from $900 million as of Dec. 31, 2014.
Although the issuance of notes will improve the availability under
the $1.125 billion borrowing base revolver to $533 million as
compared to its December 31 2014 availability of $313 million
(under the $1.2 billion borrowing base), Endeavor will continue to
be heavily reliant on its revolver to partially fund the capital
intensive development of its assets.

The proposed offering will not reduce funded debt balances.  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 per Boe, respectively.  The
weak commodity price environment as well as incremental interest
burden associated with the proposed senior notes will diminish the
company's cash flow generation through 2016, likely reducing the
retained cash flow (RCF) to debt to less than 15% from
approximately 33% as of Dec. 31, 2014.  Moody's expects the
interest coverage ratio to decline to less than 3.5x from 7.7x.

The negative outlook reflects the high likelihood of worsening
credit metrics and weakened cash flow generation in light of the
weak commodity price environment.

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 improves 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 this rating 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.



ENDEAVOR ENERGY: S&P Assigns 'B' Rating on New Unsecured Notes
--------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its 'B'
rating to Midland, Texas-based Endeavor Energy Resources L.P.'s
planned senior unsecured note offering.  The recovery rating on the
notes is '5'.  A '5' recovery rating indicates a modest (10% to
30%) expectation for recovery in the event of default, with
recovery in this case falling within the low end of the range.

The company expects to use the proceeds to repay a portion of its
existing borrowings under their revolving credit facility.
Following the announced note offering and pay down of the revolving
facility, S&P expects Endeavor's outstanding debt to remain at
roughly $1.4 billion.  The 'B+' corporate credit rating remains
unchanged.  The outlook is stable.

The ratings on Endeavor reflect S&P's assessment of its "weak"
business risk, which embodies a limited, primarily oil, proven
reserve base and substantial acreage position concentrated in the
Permian Basin of West Texas, and a relatively high cost structure.
The ratings also reflect S&P's assessment of Endeavor's
"aggressive" financial risk, which incorporates S&P's forecast that
financial leverage will not deteriorate to the point that funds
from operation to debt declines below an average of 12% over the
next two years.  S&P bases this forecast on its oil price
assumptions of $50 per barrel (bbl) in 2015 and $60/bbl in 2016,
and natural gas price assumptions of $2.75 per mmBtu in 2015 and
$3.25/mmBtu in 2016.

RATINGS KIST

Endeavor Energy Resources L.P.
Corporate credit rating                    B+/Stable/--

New Ratings
Endeavor Energy Resources L.P.
Proposed Sr Unsecd notes                  B
  Recovery Rating                          5L



ENERSYS: Moody's Assigns Ba2 Rating on $300MM Sr. Unsecured Notes
-----------------------------------------------------------------
Moody's Investors Service, assigned a Ba2 rating to EnerSys'
proposed $300 Million Senior Unsecured Notes issuance and affirmed
EnerSys' Corporate Family Rating (CFR) at Ba1, Probability of
Default at Ba1-PD, Senior Secured Bank Credit Facility at Baa3 and
Speculative Grade Liquidity at SGL-1.  The rating outlook is
stable.

RATINGS RATIONALE

EnerSys maintains an extensive market position in the industrial
lead battery market, serving the reserve power and motive power
markets.  EnerSys benefits from good end market and geographic
diversification and solid technology, much of which was acquired,
resulting in comparatively favorable credit metrics including
interest coverage of over 7.5 times (all ratios on a Moody's
adjusted basis).  Although the new debt issuance will raise the
company's leverage and meaningfully weaken its position within the
Ba1 category, Moody's believe its good cash flow should allow
leverage to remain under 2.5 times.  Moreover, the Ba1 CFR is based
on the expectation that the company will conservatively manage its
balance sheet so that acquisitions do not result in a meaningful
deterioration in the company's credit quality.  The rating benefits
from end customer diversification within the end markets that it
serves.  The company also benefits from good geographic
diversification.  The rating is constrained by the company's
product concentration, shareholder friendly activities, and the
possibility that developments in battery technology will change the
competitive landscape.

Proceeds from EnerSys' $300 Million Senior Unsecured Notes due 2023
will go towards calling its Senior Unsecured $172 million 3.375%
Convertible Notes due 2038 and will therefore increase the
company's leverage.  The rating on these notes will be withdrawn
upon completion of the transaction.

EnerSys' Speculative Grade Liquidity rating of SGL-1 reflects our
assessment that the company will maintain a very good liquidity
position over the next 12-18 months.  The company has a sizeable
cash balance of approximately $280 million as of December 2014.
Moreover, we expect that the company will generate positive free
cash flow that will strengthen its balance sheet.  Moody's believes
that its $500 million revolving credit facility, due 2018, provides
adequate back-up liquidity for a company its size even when
considering likely acquisitions.  The company also has a good
cushion under its financial covenants as prescribed under its
revolving credit facility.

The ratings and outlook are unlikely to be upgraded over the
intermediate term given EnerSys' relative scale, its active
acquisition strategy, and the high product concentration around
industrial batteries.  The willingness to use debt to fund share
repurchases and the resulting leverage also constrain the rating.
There are also risks associated with technological change in the
battery segment.

Downward rating pressure including a change in outlook to negative
could occur if its operations weaken meaningfully or if the company
makes large debt financed acquisitions particularly if these result
in Debt to EBITDA increasing to over 2.5x for an extended period.
Moreover, although we don't anticipate a large acquisition above
$500 million in size, we note that large acquisitions include a
level of integration and execution risks even if funded with some
equity.  An inability to manage through the volatility of lead
prices and currency fluctuation or an adverse change in the
competitive climate, particularly due to changes in technology,
could also adversely affect the ratings.

The stable rating outlook reflects the expectation of strong free
cash flow of at least $90 million along with moderate sized
acquisitions with pace consistent with the last several years, all
in the core battery market, Debt to EBITDA is expected to range
between 2.2x and 2.7x, at the high end only for a short period as
the company integrates an acquired business.

Assignments:

Issuer: EnerSys
  $300 Million Senior Unsecured Notes due 2023, assigned Ba2 LGD-5
  Outlook Actions:

Issuer: EnerSys
  Outlook, Remains Stable

Affirmations:

Issuer: EnerSys
  Probability of Default Rating, Affirmed Ba1-PD
  Corporate Family Rating, Affirmed Ba1
  Senior Secured Bank Credit Facility Sep 30, 2018, Affirmed Baa3
  LGD-2
  Speculative Grade Liquidity Rating, Affirmed SGL-1

To be withdrawn upon conversion
  Senior Unsecured Conv./Exch. Bond/Debenture Jun 1, 2038, to be
  withdrawn upon conversion

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

EnerSys, headquartered in Reading, Pennsylvania, is the world's
largest manufacturer, marketer and distributor of industrial
batteries.  The company also manufactures related products such as
chargers, power equipment, cabinet enclosures, battery accessories,
and provides aftermarket as well as customer-support services for
industrial batteries.  Revenues for the LTM period through December
2014 were approximately $2.5 billion.



ENERSYS: S&P Affirms 'BB+' Corp. Credit Rating; Outlook Stable
--------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB+' corporate
credit rating on industrial battery manufacturer EnerSys.  The
outlook is stable.

In addition, S&P affirmed its 'BBB' issue-level rating on the
company's existing first-lien credit facilities.  The recovery
rating on this debt remains '1', indicating S&P's expectation for
very high (90% to 100%) recovery in the event of a payment default.
The first-lien credit facilities consist of a $500 million
revolving credit facility due 2018 and a $150 million term loan due
2018.

S&P also affirmed its 'BB+' issue-level rating on the company's
senior unsecured convertible notes due 2038.  The recovery rating
on this debt remains '3', indicating S&P's expectation of
meaningful (50% to 70%; lower half of the range) recovery in the
event of a payment default.  S&P intends to withdraw these ratings
upon the notes' repayment.

At the same time, S&P assigned its 'BB+' issue-level rating and '4'
recovery rating to the company's proposed $300 million senior
unsecured notes due 2023.  The '4' recovery rating indicates S&P's
expectation for average (30% to 50%; upper half of the range)
recovery in the event of a payment default.

"We expect EnerSys to use transaction proceeds to refinance its
3.375% convertible notes due 2038, repay a portion of debt
outstanding under its revolver, and pay related premiums and fees,"
said Standard & Poor's credit analyst Jaissy Lorenzo.

EnerSys manufactures, markets, and distributes reserve-power
batteries (for telecom, computer back-up, and aerospace and defense
applications) and motive-power batteries (primarily for electric
forklifts).  Its global market shares in these two areas are
roughly 16% and 35%, respectively.  Demand from EnerSys' core
customers tends to be cyclical, as demonstrated by its performance
during the last recession, when revenues fell by about 30%.  These
factors, along with the company's good geographic diversity,
support S&P's business risk profile assessment of "fair."  S&P
assess EnerSys' liquidity as "adequate."  The company has
manageable near-term debt maturities.

The outlook is stable.  S&P expects EnerSys' leading market
positions to support low organic growth.  The company's ability to
pass on raw material price increases should result in stable
profitability and translate to good free operating cash flow.
Current leverage allows the company to use additional debt for
acquisitions or moderately sized share buybacks while still
maintaining debt to EBITDA of 1.5x to 2x and FFO to debt of 45% to
60%.

S&P could lower the rating if the company pursues what S&P
considers a significantly more aggressive financial policy than S&P
expects or faces a serious operating downturn that results in debt
to EBITDA increasing to and remaining above 2x.

Although unlikely in the next two years, S&P could raise the rating
if the company's business risk profile changes so that it compares
more favorably with investment-grade companies.  For instance, the
company could significantly increase its scale.



EVERYWARE GLOBAL: Expected to File for Bankruptcy
-------------------------------------------------
Bill Rochelle, writing for Bloomberg News, reported that EveryWare
Global Inc., a provider of tabletop and food preparation products
for consumers and restaurants, said it intends to commence a
prepackaged bankruptcy reorganization by April 7 and give 96
percent of the new common stock to holders of a $248.8 million term
loan.

According to Bloomberg, citing a regulatory filing, the Lancaster,
Ohio-based company already has agreement on a definitive Chapter 11
plan with holders of $163.1 million, or 65.6 percent of the term
loan.

Reuters reported that EveryWare said it expects to file for a
prepackaged Chapter 11 bankruptcy in the U.S. Bankruptcy Court for
the District of Delaware and expects to emerge from bankruptcy
within 60-75 days.

                          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.

The TCR, on April 6, 2015, reported that Standard & Poor's Ratings
Services lowered its corporate credit rating on EveryWare Global
Inc. to 'D' from 'CCC+'.

Concurrently, S&P lowered its issue-level ratings on the company's
$250 million term loan due 2020 to 'D' from 'CCC+'.  In addition,
S&P revised the recovery rating to '5H' from '5L', reflecting its
expectation of lower revolver borrowings ahead of the term loan.
The '5H' recovery rating indicates S&P's expectation for modest
(10% to 30%) recovery in the event of a payment default.

The rating actions follow EveryWare Global Inc.'s announcement
that
it plans to file a voluntary petition to implement a pre-packaged
restructuring of its debt obligations under Chapter 11 of the U.S.
Bankruptcy Code.


FAIRMONT GENERAL: April 15 Disclosure Statement & Plan Hearing
--------------------------------------------------------------
Fairmont General Hospital Inc. is headed for a combined hearing on
April 15 for approval of a liquidating plan and the explanatory
disclosure statement, according to Bill Rochelle and Sherri Toub,
writing for Bloomberg News.

The report related that proceeds from the sale of the 207-bed
acute-care facility to Alecto Healthcare Services Fairmont LLC for
$15 million, were used in part to pay off bankruptcy financing.
The Chapter 11 plan, filed March 3, provides for the establishment
of a liquidating trust and was proposed jointly by Fairmont and the
official creditors' committee, the report added.

               About Fairmont General Hospital Inc.

Fairmont General Hospital Inc. and Fairmont Physicians, Inc.,
which operate a 207-bed acute-care facility in Fairmont, West
Virginia, sought Chapter 11 bankruptcy protection (Bankr. N.D.
W.Va. Case No. 13-01054) on Sept. 3, 2013.  The fourth-largest
employer in Marion County, West Virginia, filed for bankruptcy as
it looks to partner with another hospital or health system.

The Debtors are represented by Rayford K. Adams, III, Esq., and
Casey H. Howard, Esq., at Spilman Thomas & Battle, PLLC, in
Winston-Salem, North Carolina; David R. Croft, Esq., at Spilman
Thomas & Battle, PLLC, in Wheeling, West Virginia, and Michael S.
Garrison, Esq., at Spilman Thomas & Battle, PLLC, in Morgantown,
West Virginia.  The Debtors' financial analyst is Gleason &
Associates, P.C.  The Debtors' claims and noticing agent is Epiq
Bankruptcy Solutions.  Hammond Hanlon Camp, LLC, has been engaged
as investment banker and financial advisor.

UMB Bank is represented by Nathan F. Coco, Esq., and Suzanne Jett
Trowbridge, Esq., at McDermott Will & Emery LLP.

The Committee of Unsecured Creditors is represented by Andrew
Sherman, Esq., and Boris I. Mankovetskiy, Esq., at Sills Cummis &
Gross P.C. and Kirk B. Burkley, Esq., Bernstein Burkley, P.C.
Janet Smith Holbrook, Esq., at Huddleston Bolen LLP, represents
the Committee as local counsel.

The Bankruptcy Court has named Suzanne Koenig at SAK Management
Services, LLC, as patient care ombudsman.  Ms. Koenig has hired
her own firm as medical operations advisor; and Greenberg Traurig,
LLP, as her counsel.

The Debtors have scheduled $48,568,863 in total assets and
$54,774,365 in total liabilities.


FNC CORPORATION: Case Summary & 18 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: FNC Corporation
           dba Mapleton Mini Mart
        8626 W. Wheeler Drive
        Mapleton, IL 61547

Case No.: 15-80552

Chapter 11 Petition Date: April 6, 2015

Court: United States Bankruptcy Court
       Central District of Illinois (Peoria)

Judge: Hon. Thomas L. Perkins

Debtor's Counsel: Carleen Cignetto, Esq.
                  CARLEEN CIGNETTO ATTORNEY AT LAW
                  2 Dearborn Square, Suite 2
                  Kankakee, IL 60901
                  Tel: 815 937 5530
                  Fax: 815 937 5532
                  Email: cignettolaw@gmail.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mahmood Choudhari, president.

A list of the Debtor's 18 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilcb15-80552.pdf


FREIF NAP I: S&P Assigns 'BB-' Rating to $295MM Credit Facilities
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BB-'
ratings and '2' recovery ratings to FREIF NAP I Holdings III LLC's
(NAP I) $250 million senior secured term loan B due 2022 and $45
million senior secured funded letter of credit term loan due 2022.
The '2' recovery rating indicates S&P's expectation of substantial
(70% to 90%) recovery of principal if a payment default occurs.
S&P's recovery expectations are in the lower half of the range.

NAP I is a special-purpose, bankruptcy-remote entity that owns
1,457 MW of power generation at 13 facilities in the U.S.  It is
100% owned by U.S. private equity fund manager First Reserve.

S&P's 'BB-' rating mainly reflects the moderately high debt
leverage (initial consolidated debt per kilowatt [kW] of roughly
$540), some recontracting risk for the newly acquired assets, some
refinancing risk when the term loan matures, and the structural
subordination of NAP I's debt, given that most cash flow comes from
assets with project-level debt.  These risks are partially offset
by the assets' strong contracts with creditworthy counterparties
that provide cash flow stability.  The agreements limit demand and
price risk on most assets by providing capacity payments in
addition to energy payments that should cover variable expenses.

"We base the stable outlook on our expectation of satisfactory
operational performance and continued cash flow stability due to
the contracted nature of the portfolio's assets," said Standard &
Poor's credit analyst Michael Ferguson.



GENERAL MOTORS: Canada Sells Remaining Stake in Auto Maker
----------------------------------------------------------
Paul Vieira and Ben Dummett, writing for The Wall Street Journal,
reported that Canada agreed to sell its remaining stake in General
Motors Co. to Goldman Sachs for an undisclosed amount -- a deal
that helps bolster the Conservative government's pledge to balance
the books ahead of elections.

According to the report, Canada GEN Investment Corp., a federal
agency, said the transaction involves the sale of 73.4 million
shares, and as a result the Canadian government would no longer
hold any GM shares once the deal closes on April 10.  In New York
trading April 6, GM's shares settled at $36.66, suggesting Ottawa
will generate proceeds of about $2.69 billion, the Journal said.

                      About General Motors

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

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

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

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

                        *     *     *

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

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

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


HARSCO CORP: S&P Lowers CCR to 'BB' on Weak Operating Performance
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Camp Hill, Pa.-based diversified industrial company
Harsco Corp. to 'BB' from 'BB+'.  The outlook is negative.

At the same time, S&P lowered the issue-level ratings on the
company's two rated senior unsecured issues to 'BB' from 'BB+'. The
'3' recovery rating on this debt is unchanged, indicating S&P's
expectation for meaningful (50% to 70%; at the upper half of the
range) recovery in the event of payment default.

"The downgrade reflects weaker-than-expected operating performance
primarily due to the company's challenged metals and minerals
segment," said Standard & Poor's Jaissy Lorenzo.

S&P views Harsco's competitive position and its overall business
risk profile as "fair," despite its market-leading positions in its
niche businesses.  The company's metals business, its largest
segment, has produced mediocre profits, which can be attributed to
accepting too much market risk in its long-term service contracts.
Harsco's other segments helped compensate for the metals
underperformance and, in S&P's view, Harsco's diversification
mitigated the risk profile.  With the sale of its infrastructure
segment into a joint venture in 2013, the company is less
diversified--even though the infrastructure segment was itself a
poor performer at times.

The company's senior executive team continues to try to turn around
performance by focusing on prudent contract practices and improving
operational efficiency.  At the same time, they intend to reshape
Harsco's business portfolio over time by opportunistically adding
to the rail and industrial segments through organic investment and
acquisitions.  While S&P believes the strategies will improve
performance, executing them may be quite challenging, and S&P views
the company as being in a state of flux for at least the next one
to two years.

The negative outlook reflects S&P's view of the continued
uncertainty surrounding Harsco's plans to turn around its
profitability and transform its portfolio.

S&P could lower the rating if restructuring initiatives prove
ineffective or a business downturn further weakens the company's
operating performance, resulting in leverage above 4x for an
extended period.

S&P could revise the outlook to stable if Harsco shows progress in
implementing its operational improvement plans through a
track-record of margin improvement and stability in management, and
generates at least $50 million in annual free operating cash flow.



HARVEY REED: Split Widens on Sanctions for Claims Filing
--------------------------------------------------------
Bill Rochelle, writing for Bloomberg News, reported that a federal
district judge in Chicago sided with consumers on the question of
whether filing a claim in bankruptcy violate the federal Fair Debt
Collection Practices Act, or FDCPA, if the debt was already barred
by the statute of limitations.

According to Mr. Rochelle, the federal circuit courts of appeal are
split, noting that the Second Circuit in New York ruled in 2010
that filing a claim can't be an FDCPA violation while the 11th
Circuit in Atlanta came down soundly on the side of consumers,
finding a violation of the FDCPA if a collection agency files a
claim based on a stale debt that can't be collected under state
law.

According to the report, in an opinion on March 27, U.S. District
Judge Elaine E. Bucklo refused to dismiss the suit, saying the
Seventh Circuit in Chicago has yet to rule on whether filing a
claim can give rise to a claim under the FDCPA.  Judge Bucklo, the
report noted, was persuaded by the Seventh Circuit's 2004 Randolph
opinion, holding that the Bankruptcy Code and the FDCPA can have
overlapping remedies unless there is an "irreconcilable conflict."

The case is Reed v. LVNV Funding LLC, 14-cv-8371, case U.S.
District Court, Northern District Illinois (Chicago).

A full-text copy of Judge Bucklo's Decision is available at
http://is.gd/9G7TV5from Leagle.com.



HIPCRICKET INC: Plan Set for Confirmation Hearing on May 13
-----------------------------------------------------------
The U.S. Bankruptcy Court in Delaware scheduled for May 13, 2015,
the hearing to consider confirmation of Hipcricket, Inc.'s Chapter
11 plan of reorganization, which gives ownership to ESW Capital
LLC.

According to Bill Rochelle and Sherri Toub, bankruptcy columnists
for Bloomberg News, the Official Committee of Unsecured Creditors
agreed to the accelerated plan approval because every week of delay
costs $100,000 in interest payments to the bankruptcy lender,
cutting the recovery by unsecured creditors.  Hipcricket has
amended the disclosure statement explaining its plan to provide
that holders of general unsecured claims are expected to recover
17.6% to 21.4% of their total allowed claim amount.

The Bloomberg report said the bankruptcy court only gave tentative
approval to the disclosure statement.  At the confirmation hearing,
creditors can contend that disclosure was inadequate, the Bloomberg
report added.

Combining the two stages makes sense, U.S. Bankruptcy Judge Laurie
Selber Silverstein in Delaware said, since Hipcricket's Chapter 11
is "smallish," the official committee of unsecured creditors has
been heavily involved in the case and all creditors have been kept
apprised of events, Law360 reported.  A joint hearing will expedite
the plan process and help Hipcricket preserve proceeds from the ESW
transaction, "which will inure to the benefit of unsecured
creditors," debtor's counsel Ira D. Kharasch told the court, the
Law360 report said.

                       About Hipcricket Inc.

Headquartered in Bellevue, Washington, Hipcricket, Inc., formerly
known as Augme Technologies, is a publicly held Delaware
corporation.  Hipcricket is in the business of providing
end-to-end, data-driven mobile advertising and marketing solutions
through its proprietary AD LIFE software-as-a service platform a
proprietary, mobile engagement platform for businesses to
communicate with customers through cellphones, tablets and other
mobile devices.  The Company had 77 full-time employees as of the
bankruptcy filing.

Hipcricket sought Chapter 11 protection (Bankr. D. Del. Case No.
15-10104) on Jan. 20, 2015, with a deal to sell its assets.

The Debtor tapped Pachulski Stang Ziehl & Jones LLP as counsel,
Canaccord Genuity Inc. as investment banker, Perkins Coie LLP as
special corporate counsel, and Omni Management Group, LLC, as
claims and noticing agent.

As of Jan. 20, 2015, the Company had total assets of $16.8 million
and liabilities of $12.06 million.

The Debtor filed plan of reorganization sponsored by ESW Capital,
LLC.  The Debtor and ESW Capital negotiated a replacement
postpetition financing facility, providing up to $4.5 million in
financing, on substantially similar terms as the DIP Facility
provided by SITO Mobile.

The U.S. Trustee for Region 3 appointed five creditors to serve on
an official committee of unsecured creditors.  The Committee
retained Cooley LLP as lead counsel, Pepper Hamilton LLP as
Delaware counsel, and Getzler Henrich & Associates, LLC, as
financial advisor.


JONES SODA: Peterson Sullivan Expresses Going Concern Doubt
-----------------------------------------------------------
Jones Soda Co. filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K for the year ended Dec.
31, 2014.

Peterson Sullivan LLP expressed substantial doubt about the
Company's ability to continue as a going concern, citing that the
Company has experienced recurring losses from operations and
negative cash flows from operating activities.

The Company reported a net loss of $1.54 million on $13.6 million
of revenue for the year ended Dec. 31, 2014, compared to a net loss
of $1.89 million on $13.7 million of revenue in the prior year.

The Company's balance sheet at Dec. 31, 2014, showed $4.87 million
in total assets, $2.25 million in total liabilities and total
stockholders' equity of $2.62 million.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/PCdADN
                          
Seattle-based Jones Soda Co. (OTC QB: JSDA), markets and
distributes premium beverages under the Jones(R) Soda, Jones
Zilch(R), Natural Jones(TM) Soda and WhoopAss(TM) Energy Drink
brands and sells through its distribution network.

The Company reported a net loss of $233,000 on $4.38 million of
total revenue for the three months ended Sept. 30, 2014, compared
with a net loss of $330,000 on $4.22 million of total revenue for
the same period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed $5.83
million in total assets, $2.82 million in total liabilities, and
stockholders' equity of $3.01 million.


LAPRADE'S MARINA: Case Summary & 14 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: LaPrade's Marina, LLC
        25 Shoreline Trail
        Clarkesville, GA 30523

Case No.: 15-20697

Chapter 11 Petition Date: April 6, 2015

Court: United States Bankruptcy Court
       Northern District of Georgia (Gainesville)

Debtor's Counsel: John A. Christy, Esq.
                  SCHREEDER, WHEELER & FLINT, LLP
                  1100 Peachtree Street, Suite 800
                  Atlanta, GA 30309-4516
                  Tel: 404-681-3450
                  Fax: 404 681 1046
                  Email: jchristy@swfllp.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Peter Anzo, president of Vinings
Holdings, Inc., manager.

A list of the Debtor's 14 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ganb15-20697.pdf


LARICINA ENERGY: Alberta Court Names PwC as Monitor
---------------------------------------------------
The Court of Queen's Bench Alberta appointed PricewaterhouseCoopers
Inc. as monitor of Laricina Energy Ltd., Laricina GP Holding Ltd.,
and 1276158 Alberta Inc.  PWC can be reached at:

  PricewaterhouseCoopers Inc.
  Attention: Dawn Walby
  3100, 111 5th Avenue SW
  Calgary, AB T2P 5L3
  Tel: +1 403 509 6669

Laricina Energy Ltd. -- http://www.laricinaenergy.com/-- is a
private Canadian oil producing company engaged in exploration in
North-Eastern Alberta, Canada.


LIBERTY TIRE: S&P Lowers CCR to 'SD', Off Watch Negative
--------------------------------------------------------
Standard & Poor's Ratings Services removed its ratings on
Pittsburgh-based Liberty Tire Recycling Holdco LLC from
CreditWatch, where they were originally placed with negative
implications on Jan. 8, 2015.  At the same time, S&P lowered the
corporate credit rating to 'SD' (selective default) from 'CC'.  S&P
also lowered the issue-level ratings on the company's 11% senior
unsecured notes due 2016 to 'D' from 'C'.  S&P intends to
subsequently withdraw its ratings on the company and its notes.

"The downgrade reflects our view that Liberty's completion of a
financial restructuring agreement among its financial sponsor,
bondholders, and banks resulted in a distressed exchange of the
company's senior unsecured notes," said Standard & Poor's credit
analyst James Siahaan.  Under S&P's criteria, it considers an
exchange offer as distressed, or tantamount to default, if (1) the
offer, in S&P's view, implies that the investor will receive
compensation that is less than the value promised under the terms
of the original securities and (2) the offer, in S&P's view, is
distressed rather than purely opportunistic.

Under the terms of the out-of-court restructuring, Liberty entered
into a new unrated credit agreement and exchanged its $225 million
11% senior unsecured notes due 2016 for a combination of new notes
and stock.  Participating noteholders received $175 million in 11%
second lien payable in kind (PIK) notes due 2021 and 80% of the
common stock of newly formed parent company LTR Holdings Inc.  Of
the remaining common stock, 15% was allocated to participating
noteholders who tendered the old notes and also participated as
secured lenders under the last-out term loan tranche of the new
credit agreement, and 5% was allocated to participating noteholders
who backstopped additional secured funding provided by holders of
the old notes pursuant to the credit agreement.  These equity
stakes are subject to dilution by management incentives and
warrants given to certain former equity holders.

Liberty, the leading tire recycling company in North America, saw
its operating performance deteriorate in recent quarters because of
lower demand, increased competition on tire collection, and pricing
pressure.  S&P recognizes that this exchange reduces the company's
debt burden and cash interest requirements, and that Liberty's
profitability could improve from cost savings and other
initiatives.



LIFE PARTNERS: April 28 Hearing on Employment of Forshey & Prostok
------------------------------------------------------------------
The Bankruptcy Court will convene a hearing on April 28, 2015, at
9:30 a.m., to consider Life Partners Holdings Inc.'s motion to
employ Forshey and Prostock, LLP, as its general bankruptcy
counsel.

As reported in the Troubled Company Reporter on Feb. 23, 2015, the
Debtor has tapped the firm to:

  a) advise the Debtors of its rights, powers and duties as Debtor
     and debtor-in-possession continuing to manage its affairs and
     properties;

  b) advise the Debtor concerning, and assisting in the
     negotiation and documentation of agreements, debt
     restructuring, and related transactions;

  c) review the nature and validity of liens asserted against the
     property of the Debtor and advise the Debtor concerning the
     enforceability of such liens;

  d) advise the Debtor concerning the actions that it might take
     to collect and to recover property for the benefit of the
     Debtor's estate;

  e) prepare on behalf of the Debtor all necessary and appropriate

     applications, motions, pleadings, proposed orders, notices,
     schedules and other documents, and review all financial and
     other reports to be filed in the Chapter 11 case;

  f) advise the Debtor concerning, and preparing responses to,
     applications, motions, pleadings, notices and other papers
     that may be filed and served in the Chapter 11 case;

  g) counsel the Debtor in connection with the formulation,
     negotiation and promulgation of a plan of reorganization and
     related documents; and

  h) perform all other legal services for and on behalf of the
     Debtor that may be necessary or appropriate in the  
     administration of the Chapter 11 case or in the management of

     the property of the Debtor's bankruptcy estate, including
     advising and assisting the Debtor with respect to debt
     restructuring, stock or asset dispositions, and general
     corporate, securities, tax, finance, real estate and
     litigation matters.

The firm's current hourly rates are:

     Professional        Hourly Rate
     ------------        -----------
     Partners               $500
     Associates         $275 to $375
     Paralegals         $150 to $195

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

                         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: April 28 Hearing on Employment of Pronske Goolsby
----------------------------------------------------------------
The U.S. Bankruptcy Court continued until April 28, 2015, at 1:30
p.m., the hearing to consider Life Partners Holdings, Inc.'s
amended motion to employ Pronske Goolsby & Kathman, PC as counsel.

At the hearing, the Court will also consider the objection filed by
the U.S. Trustee.

The U.S. Trustee objected because the firm received a $100,000
postpetition retainer from a non-debtor affiliate which (1) is a
potential alter ego defendant in a lawsuit; and (2) the direct
holders of the life insurance policies have claims against both the
debtor and the non-debtor affiliate.  These two factors undermine
the firm's independence, according to the U.S. Trustee

The U.S. Trustee asserted that the firm is not disinterested.

                         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.


LOUIS BULLARD: Supreme Court Hears Cases on Bankr. Appeals, Ch. 13
------------------------------------------------------------------
Bill Rochelle, writing for Bloomberg News, reported that the U.S.
Supreme Court has heard arguments in one bankruptcy case that
affects only consumer bankruptcies and in another that could alter
the course of corporate reorganizations.

According to the report, in Bullard v. Blue Hills Bank, the
justices are to decide whether there's more flexibility in allowing
appeals from bankruptcy court rulings that don't end the entire
case.  In Bullard, a bankruptcy judge rejected an individual's
Chapter 13 plan, which would have required paying a portion of
claims over five years before receiving a discharge wiping out
remaining liabilities, the report related.  Having lost on the
first appeal to a Bankruptcy Appellate Panel, the bankrupt appealed
to the U.S. Court of Appeals for the First Circuit in Boston, but
the First Circuit dismissed the appeal, concluding that denial of
confirmation wasn't a final order required by Section 158 of the
Judiciary Code, the report added.

Harris v. Viegelahn will determine what happens to money a trustee
hasn't distributed when a person's Chapter 13 debt-adjustment fails
and the bankruptcy is converted to liquidation in Chapter 7, the
report related.  Mr. Rochelle said the Harris case is important
because most Chapter 13 cases fail and lower courts are split on
whether money already set aside from the bankrupt's income should
go back to the bankrupt, be distributed to creditors with claims in
the Chapter 13 case, or go to the newly appointed Chapter 7 trustee
for distribution to a different set of creditors.

The case about appeals is Bullard v. Blue Hills Bank, 14-116, U.S.
Supreme Court (Washington).

The case about undistributed money is Harris v. Viegelahn, 14-400,
U.S. Supreme Court (Washington).


MATADOR RESOURCES: Moody's Rates New $350MM Unsecured Notes B3
--------------------------------------------------------------
Moody's Investors Service assigned first time rating of B3 to
Matador Resources Company including a B3 to its proposed offering
of $350 million senior unsecured notes.  Moody's also assigned a B2
Corporate Family Rating (CFR), a SGL-3 Speculative Grade Liquidity
Rating and a stable outlook.  Proceeds of the notes will be used to
repay a portion of the borrowings outstanding under its revolving
credit facility and the assumed debt from the company's acquisition
of Harvey E. Yates Company (HEYCO) in February 2015.  Matador
combined assets with HEYCO, a subsidiary of HEYCO Energy Group,
Inc., including certain oil and natural gas producing properties
and undeveloped acreage located in Lea and Eddy Counties, New
Mexico.

"Matador has demonstrated a consistent track record in its
execution of acreage acquisitions, steadily growing production and
maintaining a strong balance sheet," commented Sreedhar Kona,
Moody's Senior Analyst. "While the extent of Matador's proved
reserves and production constrain the rating, Moody's expects its
low leverage will help Matador weather commodity price weakness
while modestly growing its production levels."

Assignments:

Issuer: Matador Resources Company

  Probability of Default Rating, Assigned B2-PD

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

  Corporate Family Rating, Assigned B2

  Senior Unsecured Regular Bond/Debenture, Assigned B3 (LGD5)

Outlook Actions:

Issuer: Matador Resources Company
  Outlook, Assigned Stable

Matador is engaged in the acquisition, exploration, development and
production of oil and gas in the Eagle Ford Shale and the Permian
Basin.  Matador also holds operated and non-operated interests in
the Haynesville shale and Cotton Valley plays. Average daily
production for the quarter ended Dec. 31, 2014, was 20,807 barrels
of oil equivalent (Boe) per day (53% oil, and 47% natural gas)

Matador's core acreage in the Eagle Ford includes 29,731 net acres
in Atascosa, DeWitt, Gonzales, Karnes, Wilson and Zavala counties
in South Texas.  In the Permian, it has 85,375 net acres primarily
in Lea and Eddy counties, New Mexico and Loving County, Texas. Most
of the Permian acreage is prospective for oil and liquids-rich
targets in the Bone Spring and Wolfcamp formations.  Matador also
has 24,396 net acres in the Haynesville/Cotton Valley in Northwest
Louisiana and East Texas.

RATINGS RATIONALE

Matador's B2 CFR reflects the company's relatively moderate size in
terms of production and reserves, and significant reliance on a
single basin -- the Eagle Ford -- for production, while
acknowledging the significant growth opportunities embedded in its
Eagle Ford and Permian acreage.  The rating is supported by the
company's low leverage and relatively strong cash margins from the
high liquids content of its production, but is also tempered by the
capital spending required to grow and capitalize on the oil
potential of its acreage.  The weak commodity price environment
will continue to erode Matador's cash margins and consequently
deteriorate its capital efficiency as observed in its declining
Leveraged Full-Cycle Ratio (LFCR).  The proposed issuance, however,
of unsecured notes will equip Matador with enhanced liquidity to
meet its capital expenditures through 2015.  Given Matador's
history of equity issuances and expressed desire to maintain a
strong balance sheet, Moody's would expect Matador to continue to
use equity as a source of financing, a credit positive factor.

The B3 rating on Matador's senior unsecured notes reflects the
subordination of the unsecured notes to the company's $375 million
senior secured borrowing base under its revolving credit facility.
Revolving credit borrowings have a priority claim to the company's
assets.  The size of the claims relative to Matador's outstanding
senior unsecured notes results in the notes being rated one notch
below the B2 CFR under Moody's Loss Given Default (LGD)
methodology.  A heavier reliance on revolver borrowings resulting
in a higher proportion of outstanding secured debt compared to
unsecured notes could result in the notes being rated Caa1, two
notches below the B2 CFR.

The SGL-3 Speculative Grade Liquidity rating represents Moody's
view of adequate liquidity through 2015.  Pro forma for the
proposed $350 million notes offering and HEYCO acquisition, Matador
will have roughly $360 million of total liquidity comprised of cash
and revolver availability.  Proceeds from the notes offerings will
be used to pay down drawings under the revolver.  The revolver has
a maximum debt to adjusted EBITDA covenant of 4.25x, and with only
a modest capital outspend forecasted for 2015, Moody's believes
Matador will remain in compliance with the leverage covenant
through 2016.

The rating outlook is stable, reflecting a continuing modest growth
profile while maintaining adequate liquidity and low leverage.

Ratings may be considered for an upgrade if Matador increases
production on a sustained basis to above 30,000 Boe per day while
improving and maintaining LFCR to over 1.0x.

Ratings could be downgraded if Matador's debt to proved developed
reserves ratio rises above $15 or if Retained Cash Flow (RCF) to
debt ratio falls below 25%.

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.

Matador Resources Company is a publicly traded independent oil and
gas exploration and production company headquartered in Dallas,
Texas.



MATADOR RESOURCES: S&P Assigns 'B' CCR; Outlook Stable
------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to Dallas-based Matador Resources Co.  The outlook is
stable.  At the same time, S&P assigned its 'B-' issue-level rating
to Matador Resources' proposed $350 million senior unsecured notes
due 2023.  The recovery rating on the notes is '5', indicating
S&P's expectations of modest (10% to 30%; at the upper end of the
range) recovery to creditors in the event of a payment default.

"The ratings on Matador Resources reflect our view of the company's
'vulnerable' business risk and 'significant' financial risk
profiles," said Standard & Poor's credit analyst Christine Besset.


Matador Resources is a small E&P company with three key operating
areas: the oil-rich Eagle Ford shale (South Texas), the oil-rich
Permian Basin (West Texas and South East New Mexico), and the dry
gas Haynesville shale/Cotton Valley (East Texas and North
Louisiana).  Matador Resources has transitioned over the past three
years from a natural gas focused entity to one more balanced
between oil and gas, as it directed drilling activity toward the
liquids-rich Eagle Ford shale and de-emphasized activity in the
gassy Haynesville/Cotton Valley.

S&P views Matador's liquidity as "adequate," based on S&P's
estimate that liquidity sources will exceed uses by at least 1.2x
for the next 12 months, and that sources would exceed uses even if
forecasted EBITDA declined by 15%.

The stable outlook reflects S&P's view that Matador Resources will
continue to grow its reserves and production while maintaining
FFO/debt above 20% and debt/EBITDA below 4x.

S&P could lower the rating if it expected FFO/debt to fall below
20% or debt/EBITDA to exceed 4x with no near-term remedy, or if
liquidity deteriorated.  This would most likely occur if commodity
prices were to significantly weaken further, the company did not
meet S&P's oil production growth expectations, or if capital
spending exceeded cash flows by significantly more than currently
contemplated.

An upgrade would be possible if Matador Resources continues to
improve is operational performance such that the scale of its
reserves and production are more consistent with a "weak" business
risk profile, while maintaining "adequate" liquidity and FFO/debt
above 30%.



MCGRAW-HILL SCHOOL: S&P Revises Outlook to Neg, Affirms B+ CCR
--------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
McGraw-Hill School Education Holdings LLC (MHSE) to negative from
stable.  At the same time, S&P affirmed its 'B+' corporate credit
rating on the company.

S&P also affirmed its 'BB-' issue-level rating on all of MHSE's
existing first-lien senior secured debt.  The recovery rating on
the senior secured term loan remains '2', indicating S&P's
expectation for significant recovery (70% to 90%; high end of the
range) of principal for lenders in the event of payment default.

The outlook revision is based on S&P's Group Rating Methodology
(GRM) assessment for MHSE's parent company, MHE, and S&P's view
that a continuance of recent negative trends, including debt- and
cash-financed dividends, weaker-than-expected operating results at
MHSE, and weaker-than-expected consolidated cash flow credit
metrics, could result in a lower GCP assessment.  The GCP is not a
rating, but a component of the issuer credit rating on a group
member.  MHE's GCP is 'b+', and we consider MHSE to be "core" to
the group.  This reflects the fact that MHSE contributes about 40%
of overall group revenues.  Additionally, MHSE operates in lines of
business that are integral to the overall group strategy and are
closely linked to the group's reputation, name, brand, and risk
management.

S&P's business risk assessment of the GCP for MHE is "fair,"
reflecting MHE's solid competitive position in both the higher
education and elementary-through-high school (el-hi) publishing
markets and the company's strong digital capabilities.  However,
the assessment also reflects the group's exposure to college
enrollment trends and competition from the used and rental textbook
markets, and its reliance on state and local budgetary spending
that directly affects the el-hi business.  S&P assess MHE's GCP
financial risk profile as "highly leveraged," based on the
consolidated entity's private equity ownership, aggressive
financial policy, and demonstrated willingness to initiate frequent
special dividends to shareholders, and its high debt leverage.  The
group's 'b+' GCP is supported by a positive comparable rating
assessment.  This positive one-notch adjustment is based on the
combined company's cash flow generation, the perceived strength of
the combined group's position in both higher education and K-12
educational publishing, and the strength of its digital platform.

S&P assess MHSE's stand-alone credit profile as 'b'.  S&P's
assessment of MHSE's business risk profile is "weak," which
reflects the company's good competitive position in the K-12
educational publishing market and its consistent free cash flow
generation.  However, the assessment also reflects the industry's
exposure to volatile state and local budgets.

S&P assess the company's financial profile as "highly leveraged,"
based on MHSE's aggressive financial policy and demonstrated
willingness to initiate debt-financed special dividends to
shareholders.  S&P's management and governance assessment of MHSE
is "fair."

The negative outlook reflects S&P's view that we could lower the
ratings if the consolidated MHE group's recent negative trends,
including more-frequent-than-expected debt- and cash-financed
dividends, weaker-than-expected operating performance at MHSE, and
weaker-than-expected cash flow credit metrics do not reverse.



MRI PLAYA VISTA: Case Summary & 2 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: MRI Playa Vista, L.P.
        6331 Brompton Rd.
        Houston, TX 77005

Case No.: 15-31899

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: April 6, 2015

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Hon. Karen K. Brown

Debtor's Counsel: H Miles Cohn, Esq.
                  CRAIN, CATON & JAMES, PC
                  1401 McKinney, 17th Floor
                  Houston, TX 77010
                  Tel: 713-752-8668
                  Fax: 713-425-7968
                  Email: mcohn@craincaton.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Scott D. Morgan, manager of GP.

A list of the Debtor's two largest unsecured creditors is available
for free at http://bankrupt.com/misc/txsb15-31899.pdf


NATROL INC: Aurobindo Pharma Alleges Fraud by Former Owner
----------------------------------------------------------
Peg Brickley, writing for Daily Bankruptcy Review, reported that an
affiliate of India's Aurobindo Pharma has hurled allegations of
fraud at the former owner of a natural products company it bought
out of a U.S. bankruptcy proceeding, Natrol Inc.

According to the report, Natrol's new owner, which paid $132.5
million for the vitamin and supplement maker last year, said that
former owner Plethico Pharmaceuticals Ltd. perpetrated a fraud on
Natrol, Natrol's creditors and the bankruptcy court.

The report related that the new owner said an allegedly sham $25
million contract with a fictitious construction company involving
phony email and bank accounts, forged documents and people
masquerading as contractors allowed the company to fool lenders
before the bankruptcy proceeding and fool the court after the
chapter 11 case began.

                     About Natrol, Inc.

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

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

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

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

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

                            *     *     *

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

Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the
District of Delaware on April 2, 2015, approved the disclosure
statement explaining the First Amended Joint Liquidating Plan of
Leaf123, Inc., f/k/a Natrol, Inc., and its debtor affiliates, and
scheduled the confirmation hearing to be held on May 8, 2015, at
9:30 a.m. (prevailing Eastern time). Any objections to confirmation
of the Plan must be submitted on or before May 1.


NATROL INC: Plan Goes to May 8 Confirmation Hearing
---------------------------------------------------
Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the
District of Delaware on April 2, 2015, approved the disclosure
statement explaining the First Amended Joint Liquidating Plan of
Leaf123, Inc., f/k/a Natrol, Inc., and its debtor affiliates, and
scheduled the confirmation hearing to be held on May 8, 2015, at
9:30 a.m. (prevailing Eastern time).  Any objections to
confirmation of the Plan must be submitted on or before May 1.

Law360 reported that Judge Shannon ruled that opposition from rival
nutritional supplement maker Nature's Products Inc. over claims
arising from a Florida lawsuit was an issue more appropriate for
the confirmation hearing.  According to Law360, at a hearing, Judge
Shannon called the Natrol case a "tremendous success" as he gave
Natrol the authorization for the disclosure statement for what
would be a rare non-solicitation Chapter 11 plan, which aims to pay
all creditors in full out of proceeds that include the sale of the
debtors assets in November for $132.5 million, $45 million more
than the original pricetag.

The only impaired class, which would thus vote on the plan, are
equity holders, but attorneys for Natrol said after the hearing
that they technically don't get a ballot either because they are
deemed insiders, Law360 said.

A full-text copy of the Disclosure Statement dated April 2, 2015,
is available at http://bankrupt.com/misc/NATROLds0402.pdf

                     About Natrol, Inc.

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

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

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

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

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

                          *     *     *

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



NII HOLDINGS: Speeds Toward Ch. 11 Trial as Judge Refuses Mediation
-------------------------------------------------------------------
Law360 reported that U.S. Bankruptcy Judge Shelley C. Chapman in
New York refused to order mediation in the Chapter 11 cases of NII
Holdings Inc., saying that forcing stakeholders into closed-door
negotiations would be inappropriate with a trial teed up on the
wireless provider's proposed emergence from bankruptcy protection.

As previously reported by The Troubled Company Reporter, the Ad Hoc
Group of NII Capital 2021 Noteholders asked the Bankruptcy Court
for an order directing the Debtors to participate in mediation.

Multiple parties -- including Aurelius Capital Management, NII
Holdings and the official committee of unsecured creditors --
objected to the ad hoc group of NII Capital 2021 noteholders'
request for an order directing NII Holdings to participate in
mediation.  The group of subordinated NII Holdings bondholders also
objected to a broad-based agreement among the wireless provider's
creditors around a $4.35 billion debt-cutting strategy, demanding
that the plan sponsors enter mediation to fix allegedly skewed
restructuring terms.

                       About NII Holdings

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

NII Holdings and its affiliated debtors sought bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 14-12611) in Manhattan
on Sept. 15, 2014.  The Debtors' cases are jointly administered
and are assigned to Judge Shelley C. Chapman.

The Debtors have tapped Scott J. Greenberg, Esq., and Michael J.
Cohen, Esq., of Jones Day as counsel and Prime Clerk LLC as claims
and noticing agent.  NII Holdings disclosed $1.22 billion in assets
and $3.068 billion in liabilities as of the Chapter 11 filing.

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

The Committee is represented by Kenneth H. Eckstein, Esq., and
Adam C. Rogoff, Esq., at KRAMER LEVIN NAFTALIS & FRANKEL LLP.

Capital Group, one of the Backstop Parties, is represented by
Andrew N. Rosenberg, Esq., Elizabeth R. McColm, Esq., and Lawrence
G. Wee, Esq., at PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP.

Aurelius, one of the Backstop Parties, is represented by Daniel H.
Golden, Esq., David H. Botter, Esq., and Brad M. Kahn, Esq., at
AKIN GUMP STRAUSS HAUER & FELD LLP.

                            *   *   *

The Plan and Disclosure Statement, filed on Dec. 22, 2014, allow
the Debtors to strengthen their balance sheet by converting $4.35
billion of prepetition notes into new stock and provide the Debtors
with $500 million of new capital.  The Plan also permits the
Debtors to avoid the incurrence of significant litigation costs and
delays in connection with potential litigation claims and exit
bankruptcy protection expeditiously and with sufficient liquidity
to execute their business plan.


NII HOLDINGS: Wants To Pay Retention Bonuses to 25 More Workers
---------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that NII Holdings Inc. asked permission from a
bankruptcy judge to include 25 additional workers in its retention
plan, saying the announcement of its sale of operations in Mexico
has raised significant concern about the future size and
composition of its U.S. workforce.

As previously reported by The Troubled Company Reporter, NII
Holdings, in December, asked permission to pay executives and other
top-level employees as much as $9 million in bonuses.  NII proposed
bonuses for eight employees, including five senior executives and
three vice presidents, tied to goals that incentivize a timely
restructuring or sale.

The Bloomberg report said that since December, the "game-changing"
Mexico sale was announced and after the sale the company expects to
reorganize around operations in Brazil.  The 25 non-insider workers
designated for bonuses are "absolutely necessary to the continued
stewardship" of the company, NII said, the Bloomberg report
related.

NII estimated that the total cost of adding these employees to the
plan is about $920,000, Bloomberg said.

                       About NII Holdings

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

NII Holdings and its affiliated debtors sought bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 14-12611) in Manhattan
on Sept. 15, 2014.  The Debtors' cases are jointly administered
and are assigned to Judge Shelley C. Chapman.

The Debtors have tapped Scott J. Greenberg, Esq., and Michael J.
Cohen, Esq., of Jones Day as counsel and Prime Clerk LLC as claims
and noticing agent.  NII Holdings disclosed $1.22 billion in assets
and $3.068 billion in liabilities as of the Chapter 11 filing.

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

The Committee is represented by Kenneth H. Eckstein, Esq., and
Adam C. Rogoff, Esq., at KRAMER LEVIN NAFTALIS & FRANKEL LLP.

Capital Group, one of the Backstop Parties, is represented by
Andrew N. Rosenberg, Esq., Elizabeth R. McColm, Esq., and Lawrence
G. Wee, Esq., at PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP.

Aurelius, one of the Backstop Parties, is represented by Daniel H.
Golden, Esq., David H. Botter, Esq., and Brad M. Kahn, Esq., at
AKIN GUMP STRAUSS HAUER & FELD LLP.

                            *   *   *

The Plan and Disclosure Statement, filed on Dec. 22, 2014, allow
the Debtors to strengthen their balance sheet by converting $4.35
billion of prepetition notes into new stock and provide the Debtors
with $500 million of new capital.  The Plan also permits the
Debtors to avoid the incurrence of significant litigation costs and
delays in connection with potential litigation claims and exit
bankruptcy protection expeditiously and with sufficient liquidity
to execute their business plan.


NORCRAFT COS.: S&P Puts 'B+' CCR on CreditWatch Positive
--------------------------------------------------------
Standard & Poor's Ratings Services said it placed its 'B+'
corporate credit rating and 'BB-' senior secured term loan on
Norcraft Cos. L.P. on CreditWatch with positive implications.  The
CreditWatch positive listing means S&P could affirm or raise the
ratings following the close of the transaction.

The rating action reflects Norcraft's announcement that it has
signed a merger agreement with Deerfield, Ill.-based-Fortune Brands
Home & Security Inc., a $4 billion home and security products
company and the largest manufacturer of kitchen and bathroom
cabinetry in the U.S.

Norcraft Cos. L.P. manufactures kitchen and bathroom cabinetry in
the U.S. and Canada.  Its products include stock and semicustom
cabinets in framed and full access styles, as well as door and
finish combinations.  The current corporate credit rating on
Norcraft Cos. L.P. reflects the combination of what S&P considers
to be Norcraft's "weak" business risk and "aggressive" financial
risk.

"We will resolve the CreditWatch when the transaction closes, which
we expect to occur by the end of the second quarter of 2015. We
could affirm or raise the ratings following the close of the
transaction, at which point we also expect to subsequently withdraw
our corporate credit and issue-level ratings on the company," said
Standard & Poor's credit analyst Maurice Austin.



NORTH CHICAGO COMMUNITY: Moody's Lowers GO Rating to Ba1
--------------------------------------------------------
Moody's Investors Service has downgraded North Chicago Community
Unit School District 187, IL's General Obligation (GO) and General
Obligation Limited Tax (GOLT) ratings to Ba1 from Baa2.
Concurrently, Moody's has assigned a negative outlook.  The Ba1
rating and negative outlook apply to $47.7 million in outstanding
GOULT and GOLT parity debt.

SUMMARY RATING RATIONALE

The Ba1 rating reflects the ongoing property tax valuation
declines, additional operational deficits across the district's
main operating funds and reliance on additional, one-time
appropriations from the state of Illinois (A3 negative) for
operational and capital expenditures.  The downgrade also reflects
declines in federal impact aid, which is used to pay debt service
on the district's Series 2010B General Obligation Alternate Revenue
Source Bonds and is projected to fall below sum sufficient coverage
as soon as fiscal 2016, requiring the district to find other
sources for the full annual debt service payment.  Also
incorporated in the rating is the district's healthy reserve
position that is largely due to the infusion of bond proceeds, as
well as ongoing oversight from the State Board of Education.

The Ba1 rating on the district's GOLT debt reflects the nature of
the dedicated levy that secures the GOLT debt, which is limited by
amount but unlimited as to rate.  The district's GOLT debt is rated
on parity with the district's GOULT debt because the dedicated Debt
Service Extension Base (DSEB) levy is projected to provide
sufficient coverage on annual debt service.

OUTLOOK

The negative outlook reflects the district's expected continued
reliance on reserves to fund ongoing operations and capital needs,
absent the continuation of additional aid from the state and
proposed increases to General State Aid.  Further, the outlook
reflects the expectation of continued property tax valuation
declines which will result in reduced property tax revenues as the
district currently operates at the property tax rate maximums, as
well as losses of federal impact aid that is currently pledged for
repayment on the district's GO Alternate Revenue Source bonds.

WHAT COULD MAKE THE RATING GO UP

   -- Stabilization of the district's equalized assessed valuation

      (EAV)

   -- Additional margin under the district's capped property tax
      levies

   -- Reestablishment of structural balance

   -- Ability to stabilize federal impact aid revenues in an
      amount that provides at least 1.25 times coverage on the
      district's Series 2010B bonds

   -- Declines to the district's debt burden

WHAT COULD MAKE THE RATING GO DOWN

   -- Declines in local, state and federal revenues

   -- Continued losses of federal impact aid that results in debt
      service coverage falling below sum sufficient on the Series
      2010B bonds

   -- Continued structural imbalances resulting in declines in
      reserves

   -- Increases to the district's debt burden

OBLIGOR PROFILE

The district is located in Lake County (Aaa), 40 miles north of
Chicago (Baa2 negative), and largely serves the city of North
Chicago.  The district operates six teaching facilities, including
four elementary schools, one junior high and one high school, along
with an administrative building.  Enrollment fell to 3,822 students
in fiscal 2014, with a 1.4% average annual decline since 2009.

LEGAL SECURITY

The outstanding rated bonds are secured by the district's general
obligation unlimited tax (GOULT) pledge or general obligation
limited tax pledge (GOLT).  Outstanding GOULT bonds were issued in
2010 as Alternative Revenue Source bonds with debt service expected
to be repaid by Federal Impact Aid revenues received by the
district, though the ultimate security on the bonds is a dedicated
levy of the district which is unlimited as to rate or amount.
Outstanding GOLT bonds are secured by the district's GOLT pledge
subject to the amount of the district's Debt Service Extension Base
(DSEB).

USE OF PROCEEDS

Not applicable.

PRINCIPAL METHODOLOGY

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



OPTIM ENERGY: Amends DIP Milestone to Extend Delivery of Plan
-------------------------------------------------------------
Optim Energy, LLC, and its affiliates have amended Schedule 12.1 to
the DIP Credit Agreement to extend to April 24, 2015, the milestone
regarding the Debtors' delivery to the Lenders of either a draft
Plan of Reorganization and Disclosure Statement, in each case
acceptable to the Majority Lenders in their reasonable discretion,
or a Sale Proposal acceptable to the Majority Lenders in their
reasonable discretion.

As reported in the Troubled Company Reporter on Mar. 8, 2004, Judge
Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware gave Optim Energy, LLC, et al., final
authority to obtain an aggregate principal amount of $115,000,000,
from Cascade Investment, L.L.C., and a consortium of financial
institutions, if any, to be determined by Cascade.  Wells Fargo
Bank, N.A., will act as administrative agent and issuing bank for
the letters of credit issued under the DIP Facility.

The Debtors also obtained final authority to use cash collateral
securing their prepetition indebtedness to fund working capital,
general corporate purposes, certain hedging obligations relating
to energy trading contracts, replacement of existing letters of
credit, and restructuring expenses and professional fees.

The DIP Facility matures the earlier of (a) 12 months after the
Petition Date or 15 months if the extension option is exercised,
(b) the effective date of a chapter 11 plan of reorganization of
any of the Debtors, and (c) the date that the DIP Facility is
accelerated.

                        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.



PARADIGM HIGH: S&P Revises Outlook & Affirms 'BB-' Rating on Bonds
------------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to positive
from stable and affirmed its 'BB-' long-term rating on the Utah
Charter School Finance Authority's charter school revenue bonds
issued on behalf of Paradigm High School (PHS).

"The positive outlook reflects our view of the school's significant
progress during the past year and its expected positive financial
trajectory, which we believe could result in a credit profile that
is more in line with a higher rating during the next year or two,"
said Standard & Poor's credit analyst Jessica Matsumori.  "A higher
rating would be contingent on the school's ability to demonstrate
full and sustained compliance with its bond covenants," Ms.
Matsumori added.

The Utah State Charter School Board approved Paradigm's charter on
March 16, 2006, and the school opened in fiscal 2007.  Although its
charter is subject to revocation, as with other Utah charter
schools, there is no expiration date.  The school serves students
from seventh to 12th grade.  The school is one of a small number of
charter high schools in the state that uses a curriculum centered
on the Britannica Great Books and has an educational approach
analogous to that of a small liberal arts college.



PATRIOT COAL: Bennett Hatfield Leaves President & CEO Post
----------------------------------------------------------
Bennett K. Hatfield has resigned as Patriot Coal Corporation's
president and chief executive officer.  The Board of Directors has
appointed Robert W. Bennett, currently senior vice president and
chief narketing officer, to succeed Mr. Hatfield.  

Sarah Tincher, writing for The State Journal, relates that Mr.
Hatfield announced his resignation on April 3, 2015, after more
than two years in the position.

Eugene Davis, chairman of the board, stated, "Bob Bennett has a
strong leadership background in all facets of the coal industry,
including operations, marketing and sales, and the Board has full
confidence in his ability to lead Patriot going forward.  I know I
speak for the Board and the senior management team in thanking Ben
for his many contributions, commitment and service to Patriot.  We
wish him well in his future endeavors."

Mr. Bennett was named the Company's senior vice president and chief
marketing officer in 2009.  Previously, he served as the Company's
senior vice president of sales and trading and was responsible for
the Company's thermal coal sales.  Mr. Bennett has over 28 years of
experience in the coal sales, marketing, and trading arena,
including senior-level positions at Patriot Coal, Magnum Coal,
Peabody Energy, and AGIP Coal.  He holds a Bachelor of Arts degree
in Finance from Marshall University.

Paint Creek Complex Temporarily Idles Coal Production

The Company's Paint Creek Complex has temporarily idled coal
production at both the Samples surface mine and Winchester
underground mine effective March 22, 2015.  The action was taken in
response to high coal inventory levels driven by a combination of
the CSX rail service disruption in February and continued weakness
in demand for coal.  Appalachian thermal coal markets have been
particularly hard hit over recent months by the combined impacts of
coal-fired plant closures driven by EPA emission regulations,
low-cost natural gas, and diminished export opportunities.

Processing and shipping of coal to customers from on-site
stockpiles will continue throughout the idle period.  Coal
production is scheduled to resume in approximately three to four
weeks.

In other actions on March 22, the Samples mine downsized the number
of production units to reflect the reduced demand for thermal coal.
An estimated 35 positions were permanently eliminated.

The Paint Creek Complex has approximately 400 Patriot subsidiary
employees and is located near Cabin Creek, West Virginia.

Corporate Headquarters Moved to West Virginia

Effective Jan. 1, 2015, the Company's operations office in Scott
Depot, West Virginia, has also become the Company's corporate
headquarters.

"The move from St. Louis will accomplish dual objectives of
reducing administrative costs and positioning the corporate
headquarters in closer proximity to our mining operations and
customers," said Patriot President and CEO Bennett K. Hatfield.
"The transition of corporate office functions began in November and
is expected to be completed in the first quarter of 2015."

The address of the new Patriot corporate headquarters is P.O. Box
1001, 63 Corporate Centre Drive, Scott Depot, West Virginia 25560.

                        About Patriot Coal

Patriot Coal Corporation (NYSE: PCX) is a producer and marketer of
coal in the eastern United States, with 13 active mining complexes
in Appalachia and the Illinois Basin.  The Company ships to
domestic and international electricity generators, industrial users
and metallurgical coal customers, and controls roughly 1.9 billion
tons of proven and probable coal reserves.

Patriot Coal and nearly 100 affiliates filed voluntary Chapter 11
petitions in U.S. bankruptcy court in Manhattan (Bankr. S.D.N.Y.
Lead Case No. 12-12900) on July 9, 2012.  Patriot said it had
$3.57 billion of assets and $3.07 billion of debts, and has
arranged $802 million of financing to continue operations during
the reorganization.

Davis Polk & Wardwell LLP serves as lead restructuring counsel.
Bryan Cave LLP serves as local counsel to the Debtors.  Blackstone
Advisory Partners LP is serving as financial advisor, and AP
Services, LLC is providing interim management services to Patriot
in connection with the reorganization.  Ted Stenger, a Managing
Director at AlixPartners LLP, the parent company of AP Services,
has been named Chief Restructuring Officer of Patriot, reporting
to the Chairman and CEO.  GCG, Inc. serves as claims and noticing
agent.

The U.S. Trustee appointed a seven-member creditors committee.
Kramer Levin Naftalis & Frankel LLP serves as its counsel.
Houlihan Lokey Capital, Inc., serves as its financial advisor and
investment banker.  Epiq Bankruptcy Solutions, LLC, serves as its
information agent.

On Nov. 27, 2012, the New York bankruptcy judge moved Patriot's
bankruptcy case to St. Louis.  The order formally sending the
reorganization to Missouri was signed Dec. 19, 2012, by the
bankruptcy judge.  The New York Judge in a Jan. 23, 2013 order
denied motions to transfer the venue to the U.S. Bankruptcy Court
for the Southern District of West Virginia.

Patriot Coal et al., filed with the U.S. Bankruptcy Court for the
Eastern District of Missouri a First Amended Joint Chapter 11
Plan of Reorganization and an explanatory disclosure statement on
Oct. 9, 2013, and a Second Amended Joint Chapter 11 Plan of
Reorganization and an explanatory disclosure statement on Oct. 26,
2013.

The Bankruptcy Court approved the Plan on Dec. 17, 2013.


POWIN CORP: Anton & Chia Expresses Going Concern Doubt
------------------------------------------------------
Powin Corporation filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K for the year ended Dec.
31, 2014.

Anton & Chia, LLP, expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company had
net losses of $5.9 million in 2014 and $5.9 million in 2013 and
cash used in operations of $2.7 million and $2.9 million,
respectively.

The Company reported a net loss of $5.91 million on $11.3 million
of net sales for the year ended Dec. 31, 2014, compared to a net
loss of $5.86 million on $17.87 million of net sales in 2013.

The Company's balance sheet at Dec. 31, 2014, showed $7.48 million
in total assets, $14.09 million in total liabilities and a
stockholders' deficit of $5.98 million.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/SBx45E
                          
Powin Corporation is one of the leaders in contract manufacturing
and OEM parts.  Headquartered in Tualatin, Oregon, Powin
manufactures more than 2,000 products, including automotive & truck
parts, electronic parts & components, plastics, and textile.

Powin Corporation's working capital deficit was $7.0 million at
Sept. 30, 2014.  The deficit was $2.7 million as of December 31,
2013.

At Sept. 30, 2014, the Company had total current assets of $7.2
million and total current liabilities of $14.1 million.  At Dec.
31, 2013, the Company had total current assets of $5.0 million and
total current liabilities of $7.8 million.


PRIME HEALTHCARE: S&P Raises CCR to 'B+'; Outlook Stable
--------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on acute-care hospital operator Prime Healthcare Services
Inc. to 'B+' from 'B'.  The outlook is stable.

At the same time, S&P raised its rating on Prime's senior secured
term loan to 'B+' from 'B', reflecting the new corporate credit
rating.  Following better visibility into the composition of
properties acquired with term loan proceeds, S&P revised the
recovery rating on this debt to '3' from '4', reflecting S&P's
expectation for meaningful recovery (50% to 70%; at the low end of
the range) in the event of payment default.

"This rating action on Prime follows several quarters of
better-than-expected operating results, characterized by high-teens
EBITDA margins that reflect a faster-than-expected operating
turnaround of recently acquired hospitals," said Standard & Poor's
credit analyst Shannan Murphy.  The upgrade also follows news that
Prime will not pursue the Daughters of Charity hospital
acquisition, a sizable transaction that introduced uncertainty into
our future operating forecasts and that S&P believed could have
resulted in a meaningful increase in leverage over the next few
years.  While S&P believes that Prime will remain very acquisitive
(as evidenced by a very robust 2015 acquisition pipeline), the
company has significant experience in managing acquisitions and S&P
is now more confident that the company will be able to pursue
targets while maintaining leverage below 4x.

S&P's stable outlook on Prime reflects S&P's expectation that the
company will remain acquisitive, but that it will be able to
quickly raise margins at acquired properties, resulting in leverage
sustained in the mid- to high 3x range over time.

S&P could lower the rating if Prime encounters significant
difficulty in integrating recently acquired hospitals, resulting in
leverage that S&P expects to be sustained over 4x over time.
Alternatively, S&P could also lower the rating if the company is
meaningfully more acquisitive than S&P currently expects.  S&P
believes the company has about $750 million in annual debt-financed
acquisition capacity at the current rating.

A higher rating would require Prime to maintain leverage below 3x
over time.  Given the company's stated focus on acquisition-driven
growth, S&P views this as unlikely over the next year.



PUERTO RICO ELECTRIC: Creditors Offer $2-Billion Capital Plan
-------------------------------------------------------------
Bondholders of Puerto Rico's Electric Power Authority are offering
a plan that would inject $2 billion into the junk-rated utility to
modernize facilities and repair its finances, various news sources
reported.

According to Michelle Kaske, writing for Bloomberg News, the
authority, known as Prepa, is negotiating an agreement with
creditors to extend loans and lower its dependence on oil.  That
contract is set to end April 15 after Prepa, investors, banks and
insurance companies agreed to a 15-day extension, Bloomberg said.

Reuters reported that General Electric would commit to financing
the new natural gas plant in Puerto Rico under the debt
restructuring plan.  Reuters said the plan, which also includes
creation of more than 3,400 new jobs, comes during ongoing
negotiations between PREPA and its creditors to restructure the
utility's $9 billion in debt.

Stephen Spencer, managing director of Houlihan Lokey and adviser to
PREPA bondholders, said in a statement that the plan was designed
for "immediate implementation to support the transformational
efforts at PREPA and help bolster the credit profile of the island
at a critical point for the Puerto Rican economy," Law360 cited.

"Because the plan provides significant PREPA rate related and
broader economic benefits while continuing to service bond debt, it
provides a critically needed positive signal to the capital
markets," Law360 related, further citing Mr. as saying.  "Both
PREPA and Puerto Rico need continued access to new investment
capital at reasonable rates, and the creditor plan is a big step
toward restoring market confidence in the overall island economy."

                       *     *     *

The Troubled Company Reporter on Feb. 4, 2015 reported that
Standard & Poor's Ratings Services said that it maintained its
'CCC' rating on the Puerto Rico Electric Power Authority's (PREPA)
power revenue bonds on CreditWatch with negative implications.
S&P originally placed the rating on CreditWatch on June 18, 2014.

On Dec. 15, 2014, TCRLA reported that Fitch is maintaining the
$8.6 billion of Puerto Rico Electric Power Authority (PREPA) power
revenue bonds on Negative Rating Watch.  The bonds are currently
rated 'CC'.

As reported in the Troubled Company Reporter on Sept. 19, 2014,
Moody's Investors Service has downgraded the rating for Puerto
Rico Electric Power Authority's (PREPA) $8.8 billion of Power
Revenue Bonds to Caa3 from Caa2. This rating action concludes the
rating review that Moody's initiated on July 1, 2014. PREPA's
rating outlook is negative.


RADIOSHACK CORP: Hires Ron Garriques as Top Executive
-----------------------------------------------------
Andrea Ahles at the Star-Telegram reports that Ron Garriques, a
former executive at Dell and Motorola, has been named as the new
top executive at RadioShack Corp.

According to Star-Telegram, Mr. Garriques is charged with keeping
the RadioShack brand alive inside co-branded Sprint stores as part
of the Company's restructuring in its deal with Standard General.

Mr. Garriques, Star-Telegram states, received bachelor's and
master's degrees in mechanical engineering from Boston University
and Stanford University, respectively, and also has a Master of
Business Administration from the Wharton School at the University
of Pennsylvania.

Jaime Jones, president of the postpaid and general business
organization at Sprint, said in a statement, "Over the past several
months, we worked closely with Ron Garriques and Standard General
on strategy and operations to make the new company a success.  With
the transaction now closed, we're looking forward to our continued
partnership and to the next phase, which is rolling out our
'store-within-a-store' concept and co-branded marketing
opportunities."

The New York Times relates that the Company will slim down to
become an electronics convenience store, focusing on gear like
Bluetooth headsets, chargers and other accessories that shoppers
may need immediately rather than waiting a day or two for a
delivery from an e-commerce website.  Tablets, laptops and digital
cameras will disappear from the stores, The NY Times states.

                  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.


RB ENERGY: No Qualified Offers Received by Deadline
---------------------------------------------------
RB Energy Inc. on April 6 provided an update on the status of the
Court approved sale and investor solicitation process (the "SISP").
No "Qualified Offers" were received by the SISP deadline of March
27, 2015 (the "Offer Deadline").  The Company has developed an
alternative course of action to attempt to obtain value for its
stakeholders prior to the maturity date of the US $13 million
"Debtor-in-Possession" loan ("DIP Loan") of April 15, 2015.

CCAA Proceedings

On October 14, 2014, following consultations with legal and
financial advisors, the Company applied for and obtained an Initial
Order to commence proceedings under the Companies' Creditors
Arrangement Act ("CCAA") in the Quebec Superior Court in respect of
the Company and its Canadian subsidiaries.  The Court granted an
initial stay of proceedings to November 13, 2014, which was
subsequently extended to April 30, 2015.  During the CCAA
proceedings, corporate activities and Quebec Lithium care and
maintenance operations are being funded by the DIP Loan provided by
Hale Capital Partners ("DIP Lender") and approved by the Court.

On November 13, 2014, the Court approved the SISP in order for the
Company to actively seek a financial and restructuring solution to
the Company's current situation in the form of an acquisition of
all or a partial interest in its Quebec lithium and Chilean iodine
projects or of an investment in the Company and a restructuring of
its financial obligations, for the benefit of all stakeholders.
Rothschild, a leading global financial advisor and investment bank,
was engaged by the Company to manage this process.

The SISP

Under the SISP, and with the assistance of Rothschild, RB Energy
has actively solicited expressions of interest from third parties
for the acquisition of all or a partial interest in its Quebec
lithium and Chilean iodine projects or for an investment in the
Company and a restructuring of its financial obligations.

Third parties that executed a non-disclosure agreement conducted
preliminary due diligence over a period that ended on January 23,
2015, the deadline for submission of non-binding letters of intent
("LOIs").  The Company received a number of LOIs by the deadline
and advised a number of the interested parties that they had been
selected as qualified bidders to continue to conduct due diligence
with the goal of submitting final binding offers by the Offer
Deadline.

As at the Offer Deadline, no binding offers that were compliant
with the requirements of the SISP ("Qualified Offers") were
received.

The Company has since consulted with its Court-appointed monitor
("Monitor"), the DIP Lender and the agent to its pre-filing lending
syndicate ("Agent") to determine an appropriate course of action.
As a result of those discussions, and with the consent of the
Monitor, the DIP Lender and the Agent, the Company and Rothschild
intend to immediately re-engage with certain interested parties
identified during the SISP in an expedited process to solicit one
or more binding offers by April 14, 2015.  There is no assurance
that the Company and Rothschild will be successful in securing such
offers.

DIP Loan

The DIP Loan becomes due and owing on April 15, 2015.  The Company
does not currently have the ability to repay the DIP Loan on such
date.

There are no assurances that the Company will secure a satisfactory
financial solution to the current situation.

Resignation of Directors

Each of the Directors of RB Energy, other than Richard P. Clark,
resigned effective April 1, 2015.  Mr. Clark will continue as the
sole director and CEO to provide direction to the Company during
the CCAA proceedings.

                      About RB Energy Inc.

RB Energy is a Canadian company formed pursuant to the arrangement
involving Sirocco Mining Inc. and Canada Lithium Corp. It currently
owns Aguas Blancas, an iodine producing mine in northern Chile, and
Quebec Lithium near Val d'Or, the geographical heart of the Quebec
mining industry.  The Aguas Blancas mine is currently in
production.  The Quebec Lithium mine has completed construction
and, prior to going into care and maintenance on October 7, 2014,
was in the commissioning phase.


RD3J LTD: Voluntary Chapter 11 Case Summary
-------------------------------------------
Debtor: RD3J, Ltd.
        2402 Cornerstone Boulevard
        Edinburg, TX 78539

Case No.: 15-70184

Chapter 11 Petition Date: April 6, 2015

Court: United States Bankruptcy Court
       Southern District of Texas (McAllen)

Judge: Hon. Richard S. Schmidt

Debtor's Counsel: Antonio Villeda, Esq.
                  VILLEDA LAW GROUP
                  5414 N 10th St
                  McAllen, TX 78504
                  956-631-9100
                  Email: avilleda@mybusinesslawyer.com

Debtor's          Jeannette Smith, CPA, CGMA
Accountant:       LONG CHILTON, LLP

Total Assets: $5.58 million

Total Liabilities: $3.75 million

The petition was signed by Raul Marquez, M.D, representative of
G.P. of Debtor.

The Debtor did not include a list of its largest unsecured
creditors when it filed the petition.


REVEL AC: Blames Power Plant Owner for Driving Off Potential Buyers
-------------------------------------------------------------------
Bill Rochelle, writing for Bloomberg News, reported that Revel AC
Inc. said there is no buyer to pay more than $82 million for its
casino in Atlantic City, New Jersey, because deal after deal has
been killed by the independently controlled affiliate that owns the
plant built to power the resort.

According to the Bloomberg report, in papers filed in court, Revel
said the first sale, for $110 million, fell through because the
buyer couldn't come to terms with the power plant's bondholders and
the second sale, to Glenn Straub's Polo North Country Club, failed
for the same reason.

Law360 reported that New York developer Howard Milstein and New
Jersey real estate executive Carl Goldberg are preparing an $88
million cash bid to acquire the bankrupt Revel Casino Hotel, but
Mr. Rochelle said, citing papers filed in court, these potential
buyers dropped their bids for lack of an acceptable deal with the
power plant owner.

The sale of the casino to Mr. Straub's Polo North gained the
support of Revel's largest lender, Wells Fargo Bank & Co., which
urged the bankruptcy judge to approve the previously rejected $82
million Chapter 11 sale, blasting objectors to the deal and arguing
that no better offer exists, Law360 reported.

                          About Revel AC

Revel AC, Inc. -- http://www.revelresorts.com/-- owns and operates
Revel, a Las Vegas-style, beachfront entertainment resort and
casino located on the Boardwalk in the south inlet of Atlantic
City, New Jersey.

Revel AC Inc. and five of its affiliates sought bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-22654) on June 19, 2014,
to pursue a quick sale of the assets.

The Chapter 11 cases are assigned to Judge Gloria M. Burns.  The
Debtors' Chapter 11 cases are jointly consolidated for procedural
purposes.

Revel AC estimated assets ranging from $500 million to $1 billion,
and the same amount of liabilities.

White & Case, LLP, and Fox Rothschild, LLP, serve as the Debtors'
Counsel, and Moelis & Company, LLC, is the investment banker.  The
Debtors' solicitation and claims agent is Alixpartners, LLP.

The prepetition first lenders are represented by Cadwalader,
Wickersham & Taft LLP.  The prepetition second lien lenders are
represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP.  The
DIP agent is represented by Milbank, Tweed, Hadley & McCloy LLP.

This is Revel AC's second trip to bankruptcy.  The company first
sought bankruptcy protection (Bankr. D.N.J. Lead Case No. 13-16253)
on March 25, 2013, with a prepackaged plan that reduced debt by
$1.25 billion.  Less than two months later on May 15, 2013, the
2013 Plan was confirmed and became effective on May 21, 2013.


REVEL AC: Florida Developer Details $500M Plan for Atlantic City
----------------------------------------------------------------
Tom Corrigan, writing for The Wall Street Journal, reported that
Florida-based developer Glenn Straub, who recently won approval to
buy Atlantic City, N.J.'s Revel Casino Hotel out of bankruptcy, has
released more details on his $500 million plan to revitalize the
seaside town, which has faced precipitous declines in tourism and
gambling revenue since 2006.

According to the report, in a statement, Mr. Straub said his
eight-part "Phoenix Project" aims to transform Atlantic City with a
host of amenities targeting affluent tourists, sports enthusiasts,
families and even retirees.

                          About Revel AC

Revel AC, Inc. -- http://www.revelresorts.com/-- owns and operates
Revel, a Las Vegas-style, beachfront entertainment resort and
casino located on the Boardwalk in the south inlet of Atlantic
City, New Jersey.

Revel AC Inc. and five of its affiliates sought bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-22654) on June 19, 2014,
to pursue a quick sale of the assets.

The Chapter 11 cases are assigned to Judge Gloria M. Burns.  The
Debtors' Chapter 11 cases are jointly consolidated for procedural
purposes.

Revel AC estimated assets ranging from $500 million to $1 billion,
and the same amount of liabilities.

White & Case, LLP, and Fox Rothschild, LLP, serve as the Debtors'
Counsel, and Moelis & Company, LLC, is the investment banker.  The
Debtors' solicitation and claims agent is Alixpartners, LLP.

The prepetition first lenders are represented by Cadwalader,
Wickersham & Taft LLP.  The prepetition second lien lenders are
represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP.  The
DIP agent is represented by Milbank, Tweed, Hadley & McCloy LLP.

This is Revel AC's second trip to bankruptcy.  The company first
sought bankruptcy protection (Bankr. D.N.J. Lead Case No. 13-16253)
on March 25, 2013, with a prepackaged plan that reduced debt by
$1.25 billion.  Less than two months later on May 15, 2013, the
2013 Plan was confirmed and became effective on May 21, 2013.


REVEL AC: Wants Plan Filing Date Extended to June 30
----------------------------------------------------
Revel AC Inc. filed a fourth motion asking the U.S. Bankruptcy
Court in New Jersey to further extend its exclusive periods to file
a plan and solicit acceptances of that plan.

According to Bill Rochelle, writing for Bloomberg News, Revel said
that since its reorganization won't be ending anytime soon, a
two-month extension of its exclusive plan-filing rights is needed.
The new deadline would be June 30, the Bloomberg report said.

BankruptcyData reported that the extension motion explains, "These
Chapter 11 Cases are undeniably large and elaborate, featuring
multiple debtors, regulatory issues, and a complex capital
structure. Since filing the Plan, the Debtors have been engaged in
a lengthy and complicated sale process involving various competing
bids as well appeals of the Polo North Sale Order and the value of
certain postpetition services, among other issues. The Debtors are
now working towards obtaining the Court's approval of the sale of
substantially all of the Debtors' assets to Polo North pursuant to
the Amended Polo North APA....The extension of the Exclusive
Solicitation Period will afford the Debtors an opportunity to
modify and solicit acceptances of the Plan. The expiration of the
Exclusive Solicitation Period and the threat of multiple plans
filed by other parties will likely lead to further contentious
litigation in these Chapter 11 Cases and increase the difficulty of
confirming a plan."

The Court scheduled an April 20, 2015 hearing on the extension
motion.

                          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.


SABINE OIL: Lenders May Cut Credit Line Significantly
-----------------------------------------------------
Christine Idzelis, writing for Bloomberg News, reported that Sabine
Oil & Gas Corp., the exploration and production company that merged
with Forest Oil Corp. last year, said its banks may cut its fully
drawn $1 billion credit line after oil prices plunged.

"Based on discussions with the lenders under the revolving credit
facility, the company believes that its borrowing base may be
reduced significantly," Sabine said in an earnings statement, the
report cited.  The potential credit squeeze has raised "substantial
doubt" about the company's ability to continue as a going concern,
according to the statement, the report further cited.

The $578 million of 7.25 percent notes due June 2019 traded at
17.75 cents on the dollar on March 26, tumbling from as high as
100.6 cents on May 6 when the merger was announced, the Bloomberg
report said, citing Trace.

                            About Sabine

Sabine Oil & Gas LLC, (formerly Forest Oil Corporation) is an
independent energy company engaged in the acquisition, production,
exploration and development of onshore oil and natural gas
properties in the United States.  Sabine's current operations are
principally located in Cotton Valley Sand and Haynesville Shale in
East Texas, the Eagle Ford Shale in South Texas, and the Granite
Wash in the Texas Panhandle.  See http://www.sabineoil.com/       

Ernst & Young LLP, in Denver, Colorado, issued a "going concern"
qualification on the consolidated financial statements of Forest
Oil for the year ended Dec. 31, 2013.  The independent accounting
firm noted that the Company has determined that it expects to fail
a financial covenant in its Credit Facility sometime prior to the
end of 2014, which could result in the acceleration of all
borrowings thereunder and the Company's senior unsecured notes due
2019 and 2020.  This raises substantial doubt about the Company's
ability to continue as a going concern.

The Company's balance sheet at Sept. 30, 2014, the Company had
$927 million in total assets, $1.07 billion in total
liabilities, and a $148 million shareholders' deficit.

                            *    *    *

As reported by the TCR on Feb. 16, 2015, Moody's Investors Service
affirmed Forest Oil's 'B3' Corporate Family Rating, as well as its
'B3-PD' PDR and SGL-3 Speculative Grade Liquidity Rating.

"The combination of Sabine and Forest joins two companies whose
principal assets in East Texas and the Eagle Ford Shale are highly
complementary, creating a company much larger in size and scale
than the two companies are individually, although one whose
production and reserves remain heavily weighted to natural gas,"
commented Andrew Brooks, Moody's Vice President.

The TCR, on April 6, 2015, reported that Moody's Investors Service
downgraded Sabine Oil & Gas Corporation's Corporate Family Rating
to Caa3 from Caa1, its second lien term loan rating to Caa3 from
Caa2 and its unsecured notes rating to Ca from Caa3. SOGC's
Speculative Grade Liquidity Rating remains SGL-4 and its rating
outlook remains negative.

"The technical default, potential acceleration of debt, existing
bondholder litigation over change of control provisions related to
its combination with the former Forest Oil Corporation and the
potential for SOGC's fully drawn borrowing base revolving credit
facility to be significantly reduced by its lenders in the April
redetermination combine to increasingly restrict SOGC's
maneuverability in the most difficult of circumstances," commented
Andrew Brooks, Moody's Vice President. "The company may have
little
choice but to pursue a distressed exchange of debt, which Moody's
would view as a default, or a court restructuring to address its
highly challenged and unsustainable capital structure."


SALTON SEA: S&P Lowers Rating on $285MM Sr. Bonds to 'B-'
---------------------------------------------------------
Standard & Poor's Ratings Services lowered its rating to 'B-' from
'B' on Salton Sea Funding Corp.'s (SSFC) $285 million senior bonds
due 2018 ($69.1 million outstanding as of Dec. 31, 2014).  The
recovery rating remains unchanged at '1'.  The outlook is stable.

"The rating action reflects our view of SSFC's weaker projected
financial performance resulting from the downward revisions of our
U.S. natural gas price deck," said Standard & Poor's credit analyst
Tony Bettinelli.

The stable outlook on the SSFC rating reflects S&P's view that
natural gas prices, the primary driver of revenues, are equally
likely to increase as to decrease, which could lead to a rating
action in either direction.



SCHUYLER PROPERTIES: Case Summary & 3 Top Unsecured Creditors
-------------------------------------------------------------
Debtor: Schuyler Properties, LLC
        1720 Powers Ferry Road, Suite 100
        Marietta, GA 30067

Case No.: 15-56283

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: April 6, 2015

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Debtor's Counsel: Charles N. Kelley, Jr., Esq.
                  KELLEY & CLEMENTS LLP
                  P. O. Box 2758
                  Gainesville, GA 30503-2758
                  Tel: 770-531-0007
                  Fax: (678) 866-2360
                  Email: ckelley@cummingskelley.com

Total Assets: $1.78 million

Total Liabilities: $846,078

The petition was signed by Richard P. Schuyler, member/manager.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/ganb15-56283.pdf


SILICON GENESIS: Taps Development Specialists as Financial Advisors
-------------------------------------------------------------------
Silicon Genesis Corporation asks the Bankruptcy Court for
permission to employ Development Specialists, Inc., as financial
advisor and expert witness.

Prior to the Petition Date, SiGen obtained a series of loans from
Firsthand Technology Value Fund, Inc. and other participating
lenders.  Firsthand asserts that it holds a security interest in
certain of the Debtor's assets, including cash collateral.

On Feb. 20, 2015, SiGen filed a motion seeking authorization to use
cash collateral, which Firsthand is expected to oppose.

In order to demonstrate that Firsthand is adequately protected for
the Debtor's proposed use of cash collateral, SiGen intends to
establish that the value of certain assets Firsthand claims are
subject to its liens are worth approximately $15.8 million, or more
than twice what Firsthand claims to be owed.  One component of the
collateral base consists of the net present value of the royalty
streams payable under license agreements with two of SiGen's
existing customers.

In this relation, DSI will assist the Debtor in preparing a
response to Firsthand's expected opposition to the cash collateral
motion, including acting as an expert witness to establish aspects
of the Debtor's analysis of the net present value of the relevant
license agreements.

On March 12, 2015, DSI executed a retention agreement with Schnader
Harrison Segal & Lewis LLP, counsel to the Debtor.  In this
relation, DSI and SHSL have agreed that SHSL will pay a retainer in
the amount of $10,000 to DSI.

                 About Silicon Genesis Corporation

Silicon Genesis Corporation filed a Chapter 11 bankruptcy petition
(N.D. Cal. Case No. 15-50525) on Feb. 17, 2015.  Theodore E. Fong
signed the petition as president and CEO.  The Debtor estimated
assets of $10 million to $50 million and liabilities of $1 million
to $10 million.  Kevin W. Coleman, Esq., Schnader Harrison Segal
and Lewis LLP represents the Debtor as counsel.  Judge Elaine
Hammond is assigned to the case.


SILICON GENESIS: Taps Schnader Harrison as Bankruptcy Counsel
-------------------------------------------------------------
Silicon Genesis Corporation asks the Bankruptcy Court for
permission to employ Schnader Harrison Segal & Lewis LLP as general
bankruptcy counsel.

Th firm's hourly rates are:

         George H. Kalikman                  $845
         Kevin W. Coleman                    $660
         Chris Hart                          $640
         Todd B. Holvick                     $310

On Feb. 3, 2015, the Debtor provided the firm with a $50,000
retainer for services to be rendered to the Debtor prior to the
Petition Date.  On Feb. 10, 2015, the Debtor provided the firm with
an additional retainer of $350,000 for services to be rendered in
connection with the Bankruptcy case.

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

The firm can be reached at:

         Kevin W. Coleman, Esq.
         Todd B. Holvick, Esq.
         SCHNADER HARRISON SEGAL & LEWIS LLP
         650 California St., 19th Floor
         San Francisco, CA 940108
         Tel: (415) 364-6700
         Fax: (415) 364-6785
         E-mail: kcole@schnader.com
                 tholvick@schnader.com

                 About Silicon Genesis Corporation

Silicon Genesis Corporation filed a Chapter 11 bankruptcy petition
(N.D. Calif. Case No. 15-50525) on Feb. 17, 2015.  Theodore E.
Fong
signed the petition as president and CEO.  The Debtor estimated
assets of $10 million to $50 million and liabilities of $1 million
to $10 million.  Kevin W. Coleman, Esq., Schnader Harrison Segal
and Lewis LLP represents the Debtor as counsel.  Judge Elaine
Hammond is assigned to the case.


STANDARD REGISTER: PBGC Objects to Sale Procedures
--------------------------------------------------
Sherri Toub, writing for Bloomberg News, reported that the Pension
Benefit Guaranty Corp. told a bankruptcy judge that Standard
Register Co. should be directed to modify proposed auction
procedures to encourage potential bidders to take on its
underfunded pension plan.

According to the report, PBGC, which serves in the Official
Committee of Unsecured Creditors, said the plan, frozen as of June
2008, covers some 8,500 current and retired employees and is
underfunded by an estimated $271.4 million.  Standard Register said
the plan is underfunded by at least $193.6 million.

                      About Standard Register

Standard Register -- http://www.standardregister.com/-- provides
market-specific insights and a compelling portfolio of workflow,
content and analytics solutions to address the changing business
landscape in healthcare, financial services, manufacturing and
retail markets.  The company has operations in all U.S. states and
Puerto Rico, and currently employs 3,500 full-time employees and 16
part-time employees.

The Standard Register Company and 10 affiliated debtors sought
Chapter 11 protection in Delaware on March 12, 2015, with plans to
launch a sale process where its largest secured lender would serve
as stalking horse bidder in an auction.

The cases are pending before the Honorable Judge Brendan L. Shannon
and are jointly administered under Case No. 15-10541.

The Debtors have tapped Gibson, Dunn & Crutcher LLP and Young
Conaway Stargatt & Taylor LLP as counsel; McKinsey Recovery &
Transformation Services U.S., LLC, as restructuring advisors; and
Prime Clerk LLC as claims agent.


STANDARD REGISTER: PBGC, Pensioners Named to Creditors' Committee
-----------------------------------------------------------------
Andrew R. Vara, Acting United States Trustee for Region 3, notified
the U.S. Bankruptcy Court for the District of Delaware that he has
appointed seven members to the official committee of unsecured
creditors in the Chapter 11 cases of The Standard Register Company
and its debtor affiliates.

The Committee members are:

   (1) Pension Benefit Guaranty Corporation
       Attn: Jack Butler
       1200 K. St., NW, Washington, DC 20005
       Tel: 202-326-4070
       Fax: 202-842-2643

   (2) Timothy V. Webb
       4906 E. Desert Fairways Dr.
       Paradise Valley, AZ 85253
       Tel: 847-370-0542

   (3) Georgia-Pacific Consumer Products LP
       Attn: Richard Lawless
       133 Peachtree St., NE, 7th Floor
       Atlanta, GA 30303
       Tel: 404-652-4975

   (4) Gary Becker
       666 Barclay Ln.
       Broomall, PA 19008
       Tel: 610-353-7707

   (5) Mark A. Platt
       5048 James Hill Rd.
       Kettering, OH 45429
       Tel: 937-623-9984

   (6) Veritiv Corporation
       Attn: James Salvadori
       850 N. Arlington Heights Rd.
       Itasca, IL 60143
       Tel: 630-875-7821
       Fax: 866-797-2681

   (7) The Flesh Company
       Attn: Gerard Winterbottom, CFO
       2118 59th St.
       St. Louis, MO 63110
       Tel: 800-760-2968
       Fax: 314-951-2003

Five of the Committee members were listed as among the Debtors'
largest unsecured creditors, with the PBGC holding $194,967,001 in
claim, Mr. Webb with a $3,994,759 pension claim, Georgia Pacific
with a $2,753,159 trade claim, Mr. Becker with a $1,686,144 pension
claim, and Mr. Platt with a $1,147,957 pension claim.

The Committee is represented by:

         Kenneth A. Rosen, Esq.
         Sharon L. Levine, Esq.
         Andrew Behlmann, Esq.
         LOWENSTEIN SANDLER LLP
         65 Livingston Avenue
         Roseland, NJ 07068
         Tel: (973) 597-2500
         Fax: (973) 597-2400
         E-mail: krosen@lowenstein.com
                slevine@lowenstein.com
                abehlmann@lowenstein.com

            -- and --

         Gerald C. Bender, Esq.
         LOWENSTEIN SANDLER LLP
         1251 Avenue of the Americas
         New York, NY 10020
         Tel: (212) 262-6700
         Fax: (212) 262-7402
         E-mail: gbender@lowenstein.com

            -- and --

         Christopher A. Ward, Esq.
         Justin K. Edelson, Esq.
         POLSINELLI PC
         222 Delaware Avenue, Suite 1101
         Wilmington, DE 19801
         Tel: (302) 252-0920
         Fax: (302) 252-0921
         Em-ail: cward@polsinelli.com
                jedelson@polsinelli.com

                      About Standard Register

Standard Register -- http://www.standardregister.com/-- provides
market-specific insights and a compelling portfolio of workflow,
content and analytics solutions to address the changing business
landscape in healthcare, financial services, manufacturing and
retail markets.  The company has operations in all U.S. states and
Puerto Rico, and currently employs 3,500 full-time employees and 16
part-time employees.

The Standard Register Company and 10 affiliated debtors sought
Chapter 11 protection in Delaware on March 12, 2015, with plans to
launch a sale process where its largest secured lender would serve
as stalking horse bidder in an auction.

The cases are pending before the Honorable Judge Brendan L. Shannon
and are jointly administered under Case No. 15-10541.

The Debtors have tapped Gibson, Dunn & Crutcher LLP and Young
Conaway Stargatt & Taylor LLP as counsel; McKinsey Recovery &
Transformation Services U.S., LLC, as restructuring advisors; and
Prime Clerk LLC as claims agent.


SULLIVAN INT'L: Commences Ch. 11 Case to Secure Future
------------------------------------------------------
Sullivan International Group, Inc. on April 7 disclosed that it has
filed voluntary petition for relief under Chapter 11 of the United
States Bankruptcy Code in the U.S. Bankruptcy Court for the
Southern District of California.  The Company intends to continue
to operate its business in the ordinary course during this time.  

"We took this action today with the goal of securing Sullivan's
future," said Steve Sullivan, SIG Chairman and CEO.  "The Company
has struggled to overcome the negative financial and operational
impacts related to the federal sequestration and government
shutdown in 2013 among other factors, resulting in numerous project
and contract delays and decrease in new contract awards.  Our team
has been working tirelessly to implement a successful turnaround.
Over the past two years we have significantly reduced operating
costs, implemented a growth strategy with an emphasis on commercial
environmental and technology products and services.  This included
a successful acquisition of an east coast commercial oriented
environmental engineering firm in 2013, and several commercial
environmental contract awards in 2014."

The reorganization will focus on leveraging the Company's past
performance on higher margin work, specifically in the commercial
environmental and technology markets, while maintaining a solid
commitment to the Company's existing federal client base.

            About Sullivan International Group

Based in San Diego, CA, Sullivan -- http://www.onesullivan.com/--
is a provider of environmental services to include, consulting &
engineering, environmental technologies, and remediation &
construction management to both the private and federal sectors,
with approximately 180 employees and satellite offices and
operations in 10 states.  Sullivan serves numerous federal
agencies, including the Environmental Protection Agency, Department
of Defense (including the Air Force Center for Engineering &
Environment, Naval Facilities Engineering Command, and the Army
Corps of Engineers), as well as private sector clients across
multiple industries.


SULLIVAN INTERNATIONAL: Case Summary & 20 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: Sullivan International Group, Inc.
        2750 Womble Road, Suite 100
        San Diego, CA 92106

Case No.: 15-02281

Type of Business: Environmental Engineering

Chapter 11 Petition Date: April 6, 2015

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

Debtor's Counsel: James P. Hill, Esq.
                  SULLIVAN, HILL, LEWIN, REZ & ENGEL, APLC
                  550 West C Street, Suite 1500
                  San Diego, CA 92101
                  Tel: 619-233-4100
                  Fax: (619) 231-4372
                  Email: Hill@sullivanhill.com

Total Assets: $16.27 million

Total Debts: $17.25 million

The petition was signed by Steven E. Sullivan, chief executive
officer.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Denovo Constructors                Trade Payable      $1,687,181
100 S. Wacker Dr.
Suite LL1-50
Chicago, IL 60606

Tetra Tech                         Trade Payable      $1,660,069
410 Exchange #150
Irvine, CA 92602

Prometheus Construction            Trade Payable        $628,650
1024 Queen Street
Honolulu, HI 96814

Park Construction Company          Trade Payable        $582,359
1481 81st Ave. NE
Minneapolis, MN 55432

Analytical Services, Inc.          Trade Payable        $418,006
402 N. West Street
Culpeper, VA 22701

Energy Solutions                   Trade Payable        $285,091
Government Group, Inc.
PO LockBox 95000-1132
Philadelphia, PA 19195

Wittie, Letsche & Waldo            Trade Payable        $233,861

Lawson Environmental Svcs          Trade Payable        $129,306

Summit Enviro. Services            Trade Payable        $129,263

Action Target, Inc.                Trade Payable        $127,145

Meyer Contracting, Inc.            Trade Payable        $123,109

Summit Drilling Company            Trade Payable        $116,488

Cascade Drilling, LP               Trade Payable         $92,514

ABC Liovin Drilling, Inc.          Trade Payable         $92,071

Leidos, Inc.                       Trade Payable         $91,686

Environmental Waste                Trade Payable         $77,506
Minimization, Inc.

Pneumercator Liquid                Trade Payable         $77,350
Control Systems Com. Inc.

McMillin NTC 903/904               Trade Payable         $73,269

Stearns Drilling Co. Inc.          Trade Payable         $72,792

STS Solutions & Training           Trade Payable         $52,250


T-L CHEROKEE SOUTH: Proceedings on MB Claim Continued
-----------------------------------------------------
On Feb. 26, 2015, a hearing was commenced with respect to
determination of the valuation of the secured claim of MB Financial
Bank in the Chapter 11 case of T-L Cherokee South, LLC.  At that
hearing, the court determined that matters concerning asserted
exclusion of witnesses and evidence raised by the debtor and MB
Financial Bank in motions in limine by the respective parties
required resolution in advance of conducting final hearing on
valuation of the creditor's secured claim.

Counsel for the respective parties stated that in their view any
record necessary for determination of the motions in limine could
be made by means of a stipulation, rather than by means of an
evidentiary hearing.

Accordingly, Judge J. Philip Klingeberger ordered that:

   1. By March 23, 2015, a stipulated record will be filed by the
Debtor and MB Financial Bank with respect to the Record Number 406
motion filed by the debtor and the Record Number 414 response by MB
Financial Bank to that motion.

   2. By March 23, 2015, a stipulated record will be filed by the
debtor and MB Financial Bank with respect to the Record Number 410
motion filed by the MB Financial Bank and the Record Number 415
response by the debtor to that motion.

   3. The foregoing stipulations shall constitute the entire
records upon which the court will base its determinations
concerning the designated motions and responses thereto.

   4. If the parties cannot arrive at a stipulation which will
constitute the entire record before the court with respect to the
foregoing motions and responses, by March 23, 2015, the parties
will file a motion to schedule a hearing with respect to further
proceedings on the foregoing motions in limine and responses
thereto.

   5. In the event that the stipulations provided for in paragraphs
1 and 2 are filed, with respect to each separate motion/response,
the debtor and MB Financial Bank shall file a legal memorandum
stating their respective positions by April 10, 2015.  No replies
shall be made to those legal memoranda.

   6. Upon the closing of the record regarding the matters
addressed above, the court will take the motions in limine under
advisement and will then enter a written decision concerning its
determination regarding each motion.

   7. Further proceedings with respect to a final hearing to value
the secured claim of MB Financial Bank are continued, to be reset
by the court.

                        About T-L Cherokee

T-L Conyers LLC, T-L Cherokee South, LLC, and two affiliates
sought Chapter 11 protection in Hammond, Indiana, on Feb. 1, 2013.

The Debtors own various shopping centers in Georgia and Kansas.
The Debtors are represented by David K. Welch, Esq., at Crane,
Heyman, Simon, Welch & Clar, in Chicago.

T-L Cherokee South (Bankr. N.D. Ind. Case No. 13-20283) estimated
assets and debts of $10 million to $50 million.  T-L Cherokee owns
and operates a commercial shopping center in Overland Park, Kansas
known as "Cherokee South Shopping Center".

The Debtors are entities managed by Westchester, Illinois-based
Tri-Land Properties, Inc., which sought Chapter 11 protection (Case
No. 12-22623) on July 11, 2012.


T-L CONYERS: April 22 Hearing on Use of Cole Cash Collateral
------------------------------------------------------------
The U.S. Bankruptcy Court, in a 17th interim order, authorized T-L
Cherokee South LLC, to use cash collateral in which Cole Taylor
Bank asserts an interest until April 30, 2015, or on the occurrence
of an event of default.

As of the petition Date, the Debtor owed the lender the principal
amount of $14,392,500 and $92,280 in interest and fees, as set
forth on the lender's proof of claim filed in the case on March 19,
2013.

As adequate protection from any diminution in value of the lender's
collateral, the Debtor will timely pay in full premiums for all
insurance policies required under the terms of the prepetition loan
documents covering the property and will cause the lender to be
named as an additional insured and loss payee on all such insurance
on all insurance policies.

A final hearing on the motion will be held on April 22, at 11:30
a.m.

                        About T-L Cherokee

T-L Conyers LLC, T-L Cherokee South, LLC, and two affiliates
sought Chapter 11 protection in Hammond, Indiana, on Feb. 1, 2013.

The Debtors are represented by David K. Welch, Esq., at Crane,
Heyman, Simon, Welch & Clar, in Chicago.

The Debtors own various shopping centers in Georgia and Kansas.

T-L Cherokee South (Bankr. N.D. Ind. Case No. 13-20283) estimated
assets and debts of $10 million to $50 million.  T-L Cherokee owns
and operates a commercial shopping center in Overland Park, Kansas
known as "Cherokee South Shopping Center".

The Debtors are entities managed by Westchester, Illinois-based
Tri-Land Properties, Inc., which sought Chapter 11 protection
(Case
No. 12-22623) on July 11, 2012.


TARA CHRISTOFF: Educ Loans Survive Only If Money Changes Hands
--------------------------------------------------------------
Bill Rochelle, writing for Bloomberg News, reported that a loan
from a non-government lender survives bankruptcy as a
non-discharged debt only if money has actually changed hands,
according to the U.S. Bankruptcy Appellate Panel for the Ninth
Circuit in Pasadena, California.

According to the report, in a March 27 opinion for the three-judge
panel, U.S. Bankruptcy Judge Jim D. Pappas concluded that the
$6,000 debt of a student who attended a for-profit university was
extinguished given the "plain language" of Section 523(a)(8)(A)(ii)
of the Bankruptcy Code because no funds actually changed hands.

The case is Institute of Imaginal Studies v. Christoff (In re
Christoff), 14-1336, U.S. Ninth Circuit Bankruptcy Appellate Panel
(Pasadena, California).


TELESOURCE SERVICES: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Telesource Services, LLC
           dba Telesource
           dba Mobile Device Depot
           dba Hybrid Battery Depot
        1450 Highwood East
        Pontiac, MI 48340

Case No.: 15-45364

Chapter 11 Petition Date: April 6, 2015

Court: United States Bankruptcy Court
       Eastern District of Michigan (Detroit)

Judge: Hon. Thomas J. Tucker

Debtor's Counsel: Brendan G. Best, Esq.
                  SCHAFER AND WEINER, PLLC
                  40950 Woodward Avenue, Suite 100
                  Bloomfield Hills, MI 48304
                  Tel: (248) 540-3340
                  Email: bbest@schaferandweiner.com

                     - and -

                  Leon N. Mayer, Esq.
                  40950 Woodward Ave., Suite 100
                  Bloomfield Hills, MI 48304
                  Tel: (248) 540-3340
                  Email: lnmayer@schaferandweiner.com

                     - and -

                  John J. Stockdale, Jr., Esq.
                  40950 Woodward, Suite 100
                  Bloomfield Hills, MI 48304
                  Tel: (248) 540-3340
                  Email: jstockdale@schaferandweiner.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Michael J. Woods, president/CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mieb15-45364.pdf


TELEXFREE LLC: Suit Accuses BofA of Doing Business After Shutdown
-----------------------------------------------------------------
Beth Healy, writing for Boston Globe, reported that a lawyer
representing victims of the alleged TelexFree Inc. fraud in a
class-action lawsuit has named numerous defendants in the case,
including Bank of America Corp. and the audit firm
PricewaterhouseCoopers.

According to the lawsuit, which consolidated the civil complaints
of at least 780,000 alleged victims, Bank of America and
PricewaterhouseCoopers did business with TelexFree even after
learning the company had been shut down in Brazil under allegations
it was conducting a pyramid scheme, the report related.

                         About TelexFREE

TelexFREE -- http://www.TelexFREE.com/-- is a telecommunications
business that uses multi-level marketing to assist in the
distribution of voice over internet protocol telephone services.
TelexFREE's retail VoIP product, 99TelexFREE, allows for unlimited
international calling to seventy countries for a flat monthly rate
of $49.90.  TelexFREE has over 700,000 associates or promoters
worldwide.

The company believes the sales of the 99TelexFREE product, the
TelexFREE "app," and other new products will ultimately prove
successful and profitable.  The company is struggling, however,
with several factors that required it to seek chapter 11
protection.  First, the Company experienced exponential growth in
revenue between 2012 and 2013 (from de minimus amounts to over
$1 billion), which put tremendous pressure on the Company's
financial, operational and management systems.  Second, although
the company revised its original compensation plan to promoters in
order to address certain questions that were raised regarding such
plan, the company believes that the plans need to be further
revised.  Finally, the trailing liabilities arising from the
original compensation plan are difficult to quantify and have
resulted in substantial asserted liabilities against the company,
a number of which may not be valid.

TelexFREE LLC and two affiliates sought bankruptcy protection
(Bankr. D. Nev. Lead Case No. 14-12525) on April 13, 2014.

Alvarez & Marsal North America, LLC is serving as restructuring
advisor and Greenberg Traurig, LLP and Gordon Silver are serving
as legal advisors to TelexFREE.  Kurtzman Carson Consultants LLC
serves as claims and noticing agent.

TelexFREE, LLC, estimated $50 million to $100 million in assets
and $100 million to $500 million in liabilities.

TelexFREE is facing accusations of operating a $1 billion-plus
pyramid scheme.

In May, the Court approved the motion by the U.S. Securities &
Exchange Commission to transfer the venue of the Debtors' cases to
the U.S. Bankruptcy Court, District of Massachusetts (Bankr. D.
Mass. Case Nos. 14-40987, 14-40988 and 14-40989).  The Court
entered an order in relation to the venue transfer stating that
the cases remain jointly administered, and KCC will continue to
serve as claims processing agent.

The Debtors had opposed to the motion, stating that while the SEC
contends that the Massachusetts Bankruptcy Court is more
convenient for the SEC, the SEC has failed entirely to meet its
burden to show that the Massachusetts Bankruptcy Court is better
than the Nevada Bankruptcy Court for administration of the Chapter
11 Cases.  The Debtors chose the Nevada Bankruptcy Court because,
inter alia, TelexFREE Nevada, a Nevada entity, is a counter-party
to more than 700,000 contracts governed by Nevada law.

A creditors' committee has not yet been appointed in the Chapter
11 Cases.


TOMI ENVIRONMENTAL: Wolinetz Expresses Going Concern Doubt
----------------------------------------------------------
Tomi Environmental Solutions, Inc., filed with the U.S. Securities
and Exchange Commission its annual report on Form 10-K for the year
ended Dec. 31, 2014.

Wolinetz, Lafazan & Company, P.C., expressed substantial doubt
about the Company's ability to continue as a going concern, citing
that the Company has incurred losses from operations during the
years ended Dec. 31, 2014 and 2013 and has a working capital
deficiency at Dec. 31, 2014.

The Company reported net income of $268,000 on $2.25 million of net
sales for the year ended Dec. 31, 2014, compared to a net loss of
$5.66 million on $1.17 million of net sales in the prior year.

The Company said the increase in revenue is attributable mainly to
the fact that we were able to acquire and take control over the
entire SteraMistTM line of products from L-3 in April 2013,
including manufacturing as well as research and development, which
facilitated the Company having sufficient supply of product to fill
orders, as well as diversify our client base.

As of Dec. 31, 2014 the Company had a cash balance of $161,000.
The Company has incurred significant losses from operations since
inception, including a loss from operations of $3.81 million for
the year ended Dec. 31, 2014.  The Company has, since inception,
consistently incurred negative cash flow from operations.  As of
Dec. 31, 2014, the Company had a working capital deficiency of
$1.83 million and stockholders' equity of $1,125,000.

The Company's balance sheet at Dec. 31, 2014, showed $4.7 million
in total assets, $3.58 million in total liabilities and total
stockholders' equity of $1.12 million.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/pUaVw6
                          
Tomi Environmental Solutions, Inc. is engaged in the development
of applications for and distribution of SteraMist(TM) equipment
that provides decontamination without residues or noxious fumes.
SteraMist and its related platform are being used in medical
facilities, tissue laboratories, office buildings, schools, and
more.



TRIGEANT HOLDINGS: Needs to Assign Material RR Contracts to Buyer
-----------------------------------------------------------------
In an initial pre-confirmation brief, Trigeant Holdings, Ltd., et
al., related that as a condition to closing the $100 million sale
of the Debtors' assets to Gravity Midstream Corpus Christi, LLC,
under the terms of the Debtors' Plan, the Debtors are required to
assign the Bay/Berry Agreements and Material RR Contracts to
Gravity at losing.  BTB Refining, LLC ("BTB"), asserts an ownership
interest in some or all of those agreements and contracts, and has
stated its intention to object to their assignment to Gravity.  As
such, in connection with confirmation of the Debtors' Plan, the
Debtors require a determination from the Court that the Bay/Berry
Agreements and Material RR Contracts are the property of the
Debtors and, accordingly, may be assigned by the Debtors to Gravity
at Closing.

The principal agreement at issue is the Dock Use Agreement.
Governed by Texas law, the Dock Use Agreement is an integrated,
indivisible contract containing a series of separate but
interdependent covenants.  The primary covenants are the grant to
Trigeant of exclusive use of the Dock for the purpose of shipping,
loading and unloading crude-related products coming to and from the
CPU Facility, along with a right of first refusal to acquire
additional land owned by Berry.  In exchange for these rights,
Trigeant, as owner of the CPU Facility, agreed to make certain
recurring payments to Bay, a potential fixed payment to Bay and
Berry, jointly, and granted Berry certain rights to perform and
receive payment for work on real property owned by Trigeant.

The singular, overarching purpose of this inter-connected
relationship between Trigeant and Bay/Berry is to provide all
parties with greater access across the various adjacent parcels of
real property, roadways, waterlines, pipelines, and the
all-important Tule Lake Channel abutting the Dock.  It is
unmistakable from their terms and context that the Dock Use
Agreement and the other agreements between Trigeant and Bay/Berry
which are the subject of this Brief were real-property focused, and
intended collectively to unify access across the various adjacent
parcels owned either by Berry or Trigeant, so that any
Trigeant-affiliated or successor owner of the CPU Facility and the
owner of the Dock would continue to enjoy that mutual, critical
access.

The nature of the Dock Use Agreement and intent of the parties to
treat it as an interest in real property is further made clear by
its inclusion of various material terms and conditions that are
common and integral to real estate leases.  Those provisions
include: (i) the grant of a landlord's lien in favor of Bay; (ii) a
subordination and attornment provision; (iii) the grant of both a
right of first refusal and an option in favor of Trigeant to
purchase two separate parcels of real property; (iv) a fixed
20-year term; (v) payment of utilities and taxes by Trigeant; and
(vi) recurring payments to Bay akin to monthly rent payments.
Considering the underlying nature and purpose, and the unambiguous
terms, of the Dock Use Agreement and the extensive history of the
parties' relationship, including the entry into other related
agreements that unquestionably run with the land, it becomes clear
that the parties intended to create an interest in real property
that would run with the land.  This long-term relationship further
developed through the Dock Use Agreement would continue to entrench
and enhance -- to the mutual benefit of both Trigeant and Bay/Berry
and to their respective successors -- the relationship between the
CPU Facility and the Dock.

Trigeant's separate and complementary relationship with Union
Pacific Railroad Co -- through the Material RR Contracts -- is no
less critical to the successful operation of the CPU Facility, and
also furthers Trigeant's relationship with Bay/Berry.  The Material
RR Contracts are patent interests in real property, the majority of
which are grants of easements by Union Pacific in favor of the
owner of the CPU Facility to maintain pipelines between the CPU
Facility and the Dock that run through Union Pacific property.
These easements are vital to the operations of the CPU Facility --
an essential function of which is to transfer petroleum products
from one means of transportation to another – so that the owner
of the CPU Facility and Bay/Berry can continue to operate using the
pipelines contemplated under the Pipeline Easement Agreement and
enabled by the Dock Use Agreement.

Moreover, because Trigeant currently owns the CPU Facility and the
pipelines running between the CPU Facility and the Dock, it is
impractical and serves no purpose to sever the rights to run the
pipelines under the railroad tracks from the owner of the CPU
Facility.  Simply put, the Material RR Contracts -- whether
easements or licenses -- have no value on purpose to a party that
does not also have an ownership interest in the pipelines, CPU
Facility and contracts attendant to the pipelines and CPU Facility.
The Court should, therefore, determine that the Material RR
Contracts are interests in real property owned by Trigeant, so that
Trigeant may assign them to Gravity upon Closing in satisfaction of
Trigeant's Closing obligation and in furtherance of confirmation of
the Debtors' Plan.

The remaining Bay/Berry Agreements -- consisting of easements,
leases and a deed -- are unquestionably interests in real property
and should be conclusively determined as such, along with the Dock
Use Agreement and Material RR Contracts, in any order confirming
the Debtors' Plan.

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

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

                       12th Amendment to APA

Trigeant Holdings, Ltd., et al., filed Amendment No. 12 to the
Asset Purchase Agreement with buyer Gravity Midstream Corpus
Christi, LLC.  A copy of the document is available for free at:
http://bankrupt.com/misc/Trigeant_APA_Am_12.pdf

The APA is attached to the Debtors' Joint Plan of Reorganization
under Chapter 11 of the Bankruptcy Code.

                     About Trigeant Holdings

Trigeant, owner of a Corpus Christi, Texas oil refinery, provides
fuel and asphalt products to the housing and transportation
industries.  The company is owned by Palm Beach, Florida
billionaire Harry Sargeant III and members of his family.

On Nov. 26, 2014, Trigeant filed its first bankruptcy In re
Trigeant Ltd., 13-38580.  The case was dismissed on April 1, 2014.

Trigeant Holdings, Ltd., and Trigeant, LLC, filed Chapter 11
bankruptcy petitions (Bankr. S.D. Fla. Case Nos. 14-29027 and
14-29030, respectively) on Aug. 25, 2014, amid a dispute among
members of the Sargeant family.  Mr. Sargeant's two brothers,
Daniel and James, and his father, Harry Sargeant II, sent Trigeant
to bankruptcy to fend off Mr. Sargeant III's bid to seize control
of the company's primary asset.  The family says Mr. Sargeant III,
who has a $22 million lien against the plant through a company he
controls called BTB Refining LLC, is attempting to prevent the
refinery from operating in an effort to lower its value and obtain
ownership of it.

Trigeant Holdings estimated both assets and liabilities of
$50 million to $100 million.

Berger Singerman LLP serves as the Debtors' counsel.

The Bankruptcy Court set the general claims bar date as Oct. 17,
2014, and March 31, 2015, as the deadline by which governmental
entities must file proofs of claims.

The Debtors filed on Sept. 16, 2014, their Joint Plan of
Reorganization under Chapter 11 of the Bankruptcy Code.  The Plan
is premised on the sale of substantially all of the Debtors'
assets to Gravity Midstream Corpus Christi, LLC.  The Plan
provides that holders of Allowed Claims will be paid in full, in
cash.

The U.S. Trustee for Region 21 has not appointed a committee of
unsecured creditors.


TUJAYS MACHINE: Involuntary Chapter 11 Case Summary
---------------------------------------------------
Alleged Debtor: Tujays Machine Works, LLP
                   fka Tujays Machine Works, Inc.
                426 Blue Bell Road
                Houston, TX 77037

Case Number: 15-31911

Involuntary Chapter 11 Petition Date: April 6, 2015

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Hon. Karen K. Brown

Petitioners' Counsel: Peter Johnson, Esq.
                      LAW OFFICES OF PETER JOHNSON
                      Eleven Greenway Plaza, Suite 2820
                      Houston, TX 77046
                      Tel: 713-961-1200
                      Fax: none
                      Email: pjohnson@pjlaw.com

   Petitioners                  Nature of Claim  Claim Amount
   -----------                  ---------------  ------------
Rene Smith                         Partner           79%
P.O. Box 38438
Houston, TX 77238

Cheryl Smith                       Partner            1%
P.O. Box 38438
Houston, TX 77238


U.S. COAL: Seeks to Sell Assets of Licking River for $8.5-Mil.
--------------------------------------------------------------
Licking River Mining, LLC, and its affiliates seek entry of an
order authorizing debtors Licking River Resources, Inc., Licking
River Mining, Oak Hill Coal, Inc., and S. M. & J., Inc., to sell
substantially all of their assets.

The Debtors, in consultation with the Committee and the Lenders
determined that the bid submitted by Hackman Capital Acquisition
Company, LLC and Hilco Industrial, LLC or their assignees or
nominees represents the current "highest and best" offer to
purchase that certain equipment owned by the Licking River Debtors,
which is substantially all of the equipment assets of the Licking
River Debtors.

The salient terms of the Asset Purchase Agreement are:

A. Purchase Price: $8,500,000 in cash to be paid at Closing.

B. Closing Date: Five business days after entry of a final non-
   appealable sale order approving the sale of the Licking River
   Equipment to the Proposed Buyer.

C. Condition of Equipment: The Licking River Equipment will be
   purchased on an "AS IS WHERE IS BASIS," and the Licking River
   Debtors shall make no representations and warranties pertaining

   to the Licking River Equipment, provided, however, that the
   Licking River Debtors shall represent and warrant that they
   have title to the Licking River Equipment and are authorized to

   sell the Licking River Equipment and execute and documents,
   agreements, or instruments in connection therewith.

D. Location of Licking River Equipment: The Proposed Buyer will be

   allowed to have 24/7 access to the Right Oakley and Diablo mine

   sites rent-free for 6 months after the Closing while it
   prepares for and conducts an auction and removes the Licking
   River Equipment from such locations.

The Debtors have evaluated the Licking River Debtors' ability to
reorganize and have determined that a sale of substantially all of
the Licking River Debtors' assets is in the best interests of their
Estates and creditors.  The Bidding Procedures that were approved
by the Bidding Procedures Order have governed the submission and
review of bids for the Licking River Debtors' assets and were
designed to obtain the highest and best possible offers to purchase
those assets.  The Debtors have evaluated the terms, conditions,
benefits and risks associated with the proposed sale of the Licking
River Equipment and will evaluate the same for any additional asset
sale proposed at the Auction, as well as the risks and benefits of
other alternatives.  In their sound business judgment, the Debtors
have concluded that a sale of the Licking River Equipment to the
Proposed Buyer offers the most advantageous terms and greatest
economic benefit to the Licking River Debtors and their Estates,
subject to the potential for receiving higher and better bids at
the Auction.  The Debtors have also concluded that a sale of the
Licking River Debtors’ remaining assets on such terms as may be
negotiated at the Auction will be the best option for their Estates
and all interested parties.

The Debtors have further determined that the timing of the proposed
sale is critical.  Prices for coal continue to decrease and remain
at historic lows.  This hit to the Licking River Debtors’ revenue
stream at the same time as they are facing unprecedented weather
conditions that significantly increase in production costs has made
the last several months of operation exceptionally difficult for
the Licking River Debtors.  Although the Licking River Debtors were
able to maintain their operations for the vast majority of their
bankruptcy cases, market conditions recently required that the
Licking River Debtors slow mining operations in February.  As the
Licking River Debtors no longer have an ongoing source of revenue,
it is imperative that the sale proposed herein be approved promptly
by March 31, 2015 and close by April 6, 2015 (as contemplated in
the Bidding Procedures) to ensure that the Licking River Debtors
are able to yield the greatest possible return on their assets for
the benefit of all creditors and parties in interest.  If the
contemplated sale is not approved and does not close by this time,
the Licking River Debtors are concerned that their Estates may not
be financially able to bear the administrative burden of a
continued and protracted sales process, which would be to the
detriment of all interested parties.

                About U.S. Coal and Licking River

On May 22, 2014, an involuntary Chapter 11 petition was filed
gainst Licking River Mining, LLC, before the United States
Bankruptcy Court for the Eastern District of Kentucky.  On May 23,
2014, an involuntary Chapter 11 petition was filed against Licking
River Resources, Inc. and Fox Knob Coal., Inc.  On June 3, 2014, an
involuntary Chapter 11 petition was filed against S.M. & J., Inc.
On June 4, 2014, an involuntary Chapter 11 petition was filed
against J.A.D. Coal Company, Inc.  On June 12, 2014, the Court
entered an order for relief in each of the bankruptcy cases.

On June 10, 2014, an involuntary Chapter 11 petition was filed
against U.S. Coal Corporation.  On June 27, 2014, the Court entered
an order for relief in U.S. Coal's bankruptcy case.

On Nov. 4, 2014, Harlan County Mining, LLC, Oak Hill Coal, Inc.,
Sandlick Coal Company, LLC, and U.S. Coal Marketing, LLC, filed
petitions in the United States Bankruptcy Court for the Eastern
District of Kentucky seeking relief under chapter 11 of the United
States Bankruptcy Code.  The Debtors' cases have been assigned to
Chief Judge Tracey N. Wise.  The Debtors are seeking to have their
cases jointly administered for procedural purposes, meaning that
upon entry of such an order all pleadings will be maintained on the
case docket for Licking River Mining, LLC, Case No. 14-10201.

U.S. Coal produces and sells thermal coal purchased primarily by
utilities and trading companies and specialty coal purchased by
various industrial customers and trading companies (known as
"stoker" coal).   U.S. Coal operates through two divisions: (1) the
Licking River Division that was formed through the acquisition of
LR Mining, LRR, and S.M. & J., and Oak Hill Coal, Inc. in January
2007 for $33 million., and (2) the J.A.D. Division that was formed
through the acquisition of JAD and Fox Knob, and Sandlick Coal
Company, LLC and Harlan County Mining, LLC in April 2008 for $41
million.  Both the LRR Division and the JAD Division are located in
the Central Appalachia region of eastern Kentucky. The LRR Division
has approximately 26.3 million tons of surface reserves under
lease.  The JAD Division has 24.4 million tons of surface reserves,
both leased and owned real property.  At present, U.S. Coal has
three surface mines in operation between the LRR Division and JAD
Division.

The Official Committee of Unsecured Creditors has tapped Barber Law
PLLC and Foley & Lardner as attorneys.

The Debtors are represented by Amelia Martin Adams, Esq., and Laura
Day DelCotto, Esq. of Delcotto Law Group PLLC; and Dennis J.
Drebsky, Esq., and Christopher M. Desiderio, Esq., of Nixon Peabody
LLP.



UNIVERSAL HOSPITAL: S&P Lowers CCR to 'B-'; Outlook Stable
----------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Minneapolis-based Universal Hospital Services Inc. (UHS)
to 'B-' from 'B'.  The outlook is stable.

S&P also lowered its rating on the company's first-lien debt to
'B+' (two notches above the corporate credit rating) from 'BB-',
S&P's recovery rating of '1' is unchanged.  The '1' recovery rating
indicates S&P's expectation for very high (90% to 100%) recovery in
the event of a default.

S&P lowered its rating on its second-lien debt to 'B-' (the same as
the corporate credit rating) from 'B'.  S&P's recovery rating on
this debt remains '4', and reflects S&P's expectation for average
(30% to 50%; in the upper half of the range) recovery.

"We have revised our assessment of the company's business risk
profile to 'weak' from 'fair,' reflecting operating challenges,
including revenue weakness and EBITDA margin erosion as the mix of
business continues to shift away from the higher-margin equipment
rental revenues," said Standard & Poor's credit analyst David
Kaplan.  S&P views the capital expenditures relating to replacing
rental equipment as an essential operating expense, and incorporate
that into S&P's assessment of profitability.  Moreover, the
company's substantial investment in growth capital spending to grow
the 360 solutions business is offset by weakness in equipment
rental revenues, leading to S&P's expectation for relatively flat
revenues overall and negligible free cash flow for both 2015 and
2016.

S&P's assessment of business risk as "weak" reflects the company's
narrow scope in the medical equipment leasing, management, and
servicing business to U.S.-based hospitals and other health care
service providers; declining revenues in the higher-margin
peak-need equipment rental business, and a challenging industry
environment as hospitals look to pass through reimbursement
pressures they are facing and due to the trend of declining
admissions at acute care hospitals.  The business risk also
reflects the company's well-established and extensive customer
relationships and a leading market position in this business.

The stable outlook reflects S&P's view that the company has ample
liquidity from its revolver capacity to cover operating needs over
the near to medium term, despite S&P's expectation for cash flow
deficits in 2015 and 2016.

S&P could lower the rating if cash flow deficits increase
materially or S&P expects those to persist indefinitely, which
could lead S&P to conclude that the company's capital structure is
unsustainable.

While S&P considers an upgrade in 2015 unlikely, it could raise the
rating if the company demonstrates its ability to generate positive
free flow on a consistent basis for at least four quarters.



VALENCE TECHNOLOGY: Debt Swap Qualifies Banker for 'Success Fee'
----------------------------------------------------------------
Bill Rochelle, writing for Bloomberg News, reported that a judge
ruled that conversion of debt to equity qualified an investment
banker for a "success fee" in a case arising from the Chapter 11
reorganization of battery maker Valence Technology Inc.

According to the report, a bankruptcy judge gave the bankers a
success fee amounting to almost $600,000, after determining that
the lender's conversion of Valence's $50 million secured debt to
stock of the reorganized company is deemed "sale of securities for
cash or other consideration not including a public offer."  

U.S. District Judge Lee Yeakel in Austin, Texas, said the contract
was unambiguous and agreed with the bankruptcy judge and held that
the new stock was sold "in exchange for other consideration," thus
qualifying the banker for a success fee.

The case is Valence Technology Inc., v. Roth Capital Partners case
LLC (In re Valence Technology Inc.), 14-cv-0596, U.S. District
Court, Western District of Texas (Austin).

                    About Valence Technology

Valence Technology, Inc., filed a Chapter 11 petition (Bankr. W.D.
Tex. Case No. 12-11580) on July 12, 2012, in its home-town in
Austin.  Founded in 1989, Valence develops lithium iron magnesium
phosphate rechargeable batteries.  Its products are used in hybrid
and electric vehicles, as well as hybrid boats and Segway personal
transporters.

The Debtor disclosed debt of $82.6 million and assets of
$31.5 million as of March 31, 2012.  The Debtor disclosed
$24,858,325 in assets and $78,520,831 in liabilities as of the
Chapter 11 filing.  Chairman Carl E. Berg and related entities own
44.4 percent of the shares.  ClearBridge Advisors LLC owns 5.5
percent.

Judge Craig A. Gargotta presides over the case.  The Company is
being advised by Sabrina L. Streusand at Streusand, Landon &
Ozburn, LLP with respect to bankruptcy matters.  The petition was
signed by Robert Kanode, CEO.

On Aug. 8, 2012, the U.S. Trustee for Region 7 appointed five
creditors to serve on the Official Committee of Unsecured
Creditors of the Debtor.  Brinkman Portillo Ronk, PC, serves as
its counsel.

In November 2013, Valence Technology won approval of a
reorganization plan that hands ownership of the Company to secured
lender Berg & Berg Enterprises LLC.  The plan, originally filed in
August, has Berg taking the new stock in exchange for $50 million
of the $69.1 million it's owed.  The bankruptcy plan was approved
at a Nov. 13 confirmation hearing.

The other $19.1 million owing to Berg would become a new loan not
paid until after other creditors.  Unsecured creditors are to be
paid in full on their $5.2 million in claims, with half on
emergence from bankruptcy and the remaining half one year later.


VENOCO INC: S&P Lowers Corporate Credit Rating to 'SD'
------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Denver-based Venoco Inc. to 'SD' (selective default) from
'CCC+'.

At the same time, S&P lowered the issue ratings on the company's
senior unsecured notes to 'D' from 'CCC+'.  S&P is also lowering
the recovery rating on these notes to '6' reflecting its
expectation of negligible (0% to 10%) recovery in the event of a
conventional default.

S&P is also placing the rating on Venoco parent Denver Parent
Corp., including its 'CCC+' corporate credit rating and 'CCC-'
unsecured issue-level rating, on CreditWatch with negative
implications.

"The downgrade follows the completion of Venoco's exchange of its
senior unsecured notes, whereby existing investors received new
second-lien notes at 77.5% of par value," said Standard & Poor's
credit analyst Ben Tsocanos.

S&P views the exchange as tantamount to default because investors
received less than what was promised on the original securities.
Approximately 39% of the senior unsecured note holders participated
in the exchange.  Concurrent with the exchange, Venoco issued $175
million of first-lien notes and entered into $75 million of senior
secured senior term loans.  The company's senior secured revolving
credit facility was subsequently terminated.  The lower recovery
rating on Venoco's senior unsecured notes reflects the increase in
secured debt ahead of the notes in the capital structure.

The placement of DPC's corporate credit rating and unsecured
issue-rating on CreditWatch with negative implications reflect the
potential that S&P could affirm or lower the ratings following a
review of the company's credit profile.

S&P expects to review the corporate credit ratings and issue-level
atings over the next several weeks.  S&P's analysis will
incorporate the company's improved liquidity position, while still
taking into account its challenging operating environment and very
high, though marginally improved, leverage.



VEROS ENERGY: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Veros Energy, LLC
        12982 Cherokee Bend Drive
        Moundville, AL 35474

Case No.: 15-70470

Nature of Business: Biodiesel Production

Chapter 11 Petition Date: April 6, 2015

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

Judge: Hon. Jennifer H. Henderson

Debtor's Counsel: Richard M Gaal, Esq.
                  MCDOWELL KNIGHT ROEDER & SLEDGE LLC
                  Suite 13290 11 North Water Street
                  P O Box 350
                  Mobile, AL 36601
                  Tel: 251-432-5300
                  Fax: 251-432-5303
                  Email: rgaal@mcdowellknight.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Michael Lies, manager, Lies Energy, LLC,
50% member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/alnb15-70470.pdf


VIPER VENTURES: Section 341(a) Meeting Set for April 29
-------------------------------------------------------
A meeting of creditors in the bankruptcy case of Viper Ventures,
LLC will be held on April 29, 2015, at 2:30 p.m. at Tampa, Florida
(861) - Room 100-B, Timberlake Annex, 501 E. Polk Street.
Creditors have until July 13, 2015, to submit their proofs of
claim.

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 Viper Ventures

Viper Ventures, LLC, is a Florida limited liability company that
owns 31 acres of waterfront land on Rattlesnake Point just south of
Gandy Boulevard in Tampa, Florida.

Viper Ventures filed a Chapter 11 bankruptcy petition (Bankr. M.D.
Fla. Case No. 15-bk-03404) in Tampa, Florida, on April 1, 2015.
The case is assigned to Judge Catherine Peek McEwen.

The Debtor is represented by Edward J. Peterson, III, Esq., at
Stichter, Riedel, Blain & Prosser, PA, in Tampa, Florida, as
counsel.

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

According to the docket, the Debtor's Chapter 11 plan and
explanatory disclosure statement are due by July 30, 2015.


WALL WORKS USA: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Wall Works USA, Inc.
        1981 Moreland Parkway
        Bldg. 4B, Bay 6-7
        Annapolis, MD 21401

Case No.: 15-14879

Chapter 11 Petition Date: April 6, 2015

Court: United States Bankruptcy Court
       District of Maryland (Baltimore)

Judge: Hon. David E. Rice

Debtor's Counsel: Richard B. Rosenblatt, Esq.
                  THE LAW OFFICES OF RICHARD B. ROSENBLATT, PC
                  30 Courthouse Square Ste. 302
                  Rockville, MD 20850
                  Tel: (301) 838-0098
                  Email: rbrbankruptcy@gmail.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Stephen P. Hodgins, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mdb15-14879.pdf


WESTFIELD VILLAGE: Case Summary & 9 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Westfield Village Land Acquisition, LLC
        300 Spring Drive
        Canton, GA 30115

Case No.: 15-56402

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: April 6, 2015

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Debtor's Counsel: Michael D. Robl, Esq.
                  THE SPEARS & ROBL LAW FIRM, LLC
                  Suite 250, 3754 LaVista Rd.
                  Tucker, GA 30084
                  Tel: 404-373-5153
                  Email: mdrobl@tsrlaw.com

Total Assets: $3.5 million

Total Liabilities: $1.44 million

The petition was signed by Alan T. Carter, member.

A list of the Debtor's nine largest unsecured creditors is
available for free at http://bankrupt.com/misc/ganb15-56402.pdf


WOODLAKE PARTNERS: Sale of Country Club, Four Lots to Steiner OK'd
------------------------------------------------------------------
Tom Embrey at Thepilot.com reports that the U.S. Bankruptcy Court
for the Middle District of North Carolina has approved the sale of
Woodlake Country Club and four of five other available lots to
Steiner + Company.  The report adds that the sales would close in
approximately 45 days.

Thepilot.com relates that Steiner won at a March 26, 2015 auction
the Country Club with a $500,000 bid, and the four lots with a
$205,000 offer.

According to Thepilot.com, the Country Club includes a 1,200 acre
lake, two world-class golf courses, a gated residential community
and property suitable for commercial development.

Thepilot.com states that the purchase comes with a huge cost for
Steiner, with Woodlake's dam being seriously flawed and in need of
repairs expected to cost in the millions.  The report says that in
recent months the condition of the Woodlake Dam has become
compromised and state regulators are requiring significant repairs.
According to the report, the nature of the dam's problems were
disclosed to all bidders at auction.

Thepilot.com reports that the original submitted repair plan
included two phases and an estimated repair costs of $2.5 million,
a cost that could fluctuate depending on a variety of factors,
including if the repair plan is changed or if the new owners decide
to start over with a new engineer and a new plan.  The current plan
remains on file with the state dam officials, according to the
report.

Thepilot.com says that if the owners decline to repair the dam, it
can be breached.  

                     About Woodlake Partners

Woodlake Partners, LLC was incorporated in 2003 and is based in Mt.
Washington, Kentucky.  It owns the Woodlake Country Club.

The Company filed for Chapter 11 bankruptcy protection in September
2014.  As part of the bankruptcy proceedings, the court appointed
Richard Hutson II, Esq., as Chief Restructuring Officer to oversee
the process.


XINERGY LTD: Case Summary & 30 Largest Unsecured Creditors
----------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

       Debtor                                     Case No.
       ------                                     --------
       Xinergy Ltd.                               15-70444
       8351 East Walker Springs Lane, Suite 400
       Knoxville, TN 37923   

       Xinergy of Virginia, Inc.                  15-70441

       South Fork Coal Company, LLC               15-70442

       True Energy, LLC                           15-70443

       Big Run Mining, Inc.                       15-70445

       Brier Creek Coal Company, LLC              15-70446

       Bull Creek Processing Company, LLC         15-70447

       High MAF, LLC                              15-70448

       Middle Fork Mining, Inc.                   15-70449

       Pinnacle Insurance Group LLC               15-70450

       Raven Crest Contracting, LLC               15-70451

       Raven Crest Leasing, LLC                   15-70452

       Raven Crest Minerals, LLC                  15-70453

       Raven Crest Mining, LLC                    15-70454

       Sewell Mountain Coal Co., LLC              15-70455

       Shenandoah Energy, LLC                     15-70456

       Strata Fuels, LLC                          15-70457

       Whitewater Contracting, LLC                15-70458

       Whitewater Resources, LLC                  15-70459

       Wise Loading Services, LLC                 15-70460

       Xinergy Corp.                              15-70461

       Xinergy Finance (US), Inc                  15-70462

       Xinergy Land, Inc.                         15-70463

       Xinergy of West Virginia, Inc.             15-70464

       Xinergy Sales, Inc.                        15-70465

       Xinergy Straight Creek, Inc.               15-70466

Type of Business: Producer of metallurgical and thermal coal

Chapter 11 Petition Date: April 6, 2015

Court: United States Bankruptcy Court
       Western District of Virginia (Roanoke)

Debtors'          Tyler Perry Brown, Esq.
General           HUNTON & WILLIAMS LLP
Bankruptcy        951 East Byrd St.
Counsel:          Richmond, VA 23219
                  Tel: 804-788-8674
                  Email: tpbrown@hunton.com

                    - and -

                  Henry P. Long, III, Esq.
                  HUNTON & WILLIAMS
                  Riverfront Plaza, East Tower
                  951 East Byrd St
                  Richmond, VA 23219-4074
                  Tel: (804) 787-8036
                  Email: hlong@hunton.com

                    - and -

                  Justin F. Paget, Esq.
                  HUNTON & WILLIAMS LLP
                  951 E. Byrd St.
                  Richmond, VA 23219
                  Tel: 804-787-8132
                  Email: jpaget@hunton.com

Debtors'          STUBBS ALDERTON & MARKILES, LLP
General
Corporate
Counsel:

Debtors'          SEAPORT GLOBAL SECURITIES LLC
Financial
Advisors:

Debtors'          CASSELS BROCK & BLACKWELL LLP
Canadian
Counsel:

Debtors'          DELOITTE RESTRUCTURING INC.
Canadian Court-
Appointed
Information
Officer:

Debtors'           AMERICAN LEGAL CLAIMS SERVICES, LLC
Claims,
Noticing and
Balloting
Agent:

Estimated Assets: $0 to $50,000

Estimated Debts: $100 million to $500 million

The petition was signed by Michael R. Castle, chief financial
officer.

List of Debtor's 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Virginia Drilling Company, LLC        Trade Debt      $3,335,796
PO Box 1198
Vansant, VA 24656
Tel: 800-258-8583
Fac: 276-597-7410
Contact: Virlo Stiltner
virlo@vadrillco.com

Cecil I. Walker Machinery             Trade Debt      $2,571,742
1400 E. DuPont Ave
Belle, WV 25105
Tel: 304-949-6400
Contact: Sheilah Lowe
slowe@walker-cat.com

WPP LLC                                  Lessor         $619,201
5260 Irwin Road
Huntington, WV 25705
Tel: (304) 654-6887
Contact: Chad Mooney

Penn Virginia Operating Co., LLC         Lessor         $424,066
One Carbon Center, Suite 100
Chesapeake, WV 25315
Tel: (304) 949-5619
Contact: Gary Stover

Cassels Brock & Blackwell LLP          Trade Debt       $325,182
Scotia Plaza, Suite 2100   
40 King Street West
Toronto, ON M5H 3C2
Tel: (416) 860-6771
Contact: Alexander Pizale
apizale@casselsbrock.com

C & M Giant Tire                       Trade Debt       $282,213
980 W. New Circle Rd.
Lexington, KY 40511
Tel: (859)-281-1320
Fax: (859) -281-1337
Contact: Cindy Devereux
cindy@cmgianttire.com

L Adkins Oil                           Trade Debt       $258,711
PO Box 190
Craigsville, WV 26205
Tel: (304)742-3049
Contact: Mark Adkins

Whayne Supply Company                   Trade Debt      $246,999

Brake Supply Co, Inc.                   Trade Debt      $185,567

Security America, Inc.                  Trade Debt      $173,946

Harvey Trucking, Inc                    Trade Debt      $160,014

M.G.C. Incorporated                     Trade Debt      $155,921

The Daniels Company                     Trade Debt      $147,768

American Express                        Trade Debt      $130,763

Jones & Associates                      Trade Debt      $123,335

Mercuria Energy Trading, Inc.           Trade Debt      $109,523

Appalachian Power Company               Trade Debt      $100,997

Wise County Treasurer                   Trade Debt       $96,701

Mouldagraph Corporation                 Trade Debt       $92,449

Mallard Environmental Services          Trade Debt       $86,833

Eastern KY Equipment Sales &
Services LLC                            Trade Debt       $86,675

Sheriff of Boone County                 Trade Debt       $82,529

Plum Creek Timber Company, Inc          Trade Debt       $79,774

Garlow Insurance Agency, Inc.           Trade Debt       $75,718

Gould's Electric Motor Repair, Inc      Trade Debt       $75,676

Stubbs Alderton & Markiles, LLP         Trade Debt       $75,519

JMP Coal Holdings, LLC                  Trade Debt       $72,442

Coulter & Justus, PC                    Trade Debt       $72,100

Exigent Leasing, LP                     Trade Debt       $70,745

Hurberries, Inc                         Trade Debt       $69,478


XINERGY LTD: Seeks Chapter 11 Bankruptcy Protection
---------------------------------------------------
Xinergy Ltd., a U.S. producer of metallurgical and thermal coal,
sought Chapter 11 bankruptcy protection to pursue a financial
restructuring.

The Company said in a statement that it will operate its businesses
and continue customer shipments without interruption during the
reorganization.  Xinergy will continue to pay its employees in the
normal course and also filed a motion with the court seeking to
honor its prepetition employee obligations.

"Over the past several years, the coal markets in the U.S. have
faced a number of significant challenges, including increased
environmental regulations and reductions in demand due to
weaknesses in the economy and lower natural gas prices," stated
Bernie Mason, Xinergy's CEO.  "Additionally, continued weakness in
the market for metallurgical and thermal coal, combined with an
extremely cold winter that impacted the mining and shipment of
coal, has continued to erode Xinergy's cash position."

Xinergy plans to use the Chapter 11 process to undertake a
financial restructuring and create a strong financial foundation
for the Company's future. "After careful consideration of all
available alternatives, Xinergy determined that a Chapter 11 filing
was a necessary and prudent step and the best way to obtain the
financing necessary to maintain regular operations and allow for a
successful restructuring," said Mason.

In conjunction with the filing, the Company is seeking approval to
obtain debtor-in-possession financing, which, once approved by the
court, will provide an immediate source of funds to the Company.
This funding source and the cash generated from the Company's
ongoing operations will enable the Company to satisfy obligations
associated with the daily operations of its businesses, including
the timely payment of employee wages and other obligations.

Bernie Mason concluded, "We are optimistic that Xinergy will emerge
from our Chapter 11 reorganization as a stronger, more competitive
company that is well positioned for success in the coal industry.
We have appreciated the tremendous support of our customers,
employees and vendors throughout our history and look forward to
continued good relations during this important phase."

The Debtors currently have $20 million plus fees and expenses
outstanding under first lien term loans provided by Bayside Finance
LLC.  On April 1, 2015, the first lien term loans were assigned to
funds managed on behalf of Whitebox Advisors LLC and Highbridge
Capital Management, LLC, from Bayside.  The Debtors also owe $195
million in second lien notes due May 15, 2019.

                      Road to Bankruptcy

Michael R. Castle, CFO, explains in a court filing that that
recently, domestic demand for thermal coal has fallen sharply in
large part due to increasingly attractive alternative sources of
energy, such as natural gas, and burdensome environmental and
governmental regulations impacting end users.  Simultaneously, the
increasingly stringent regulatory environment in which coal
companies operate has driven up the cost of mining and processing
coal.  Continued weakness in the market for metallurgical and
thermal coal, combined with an extremely cold and snowy winter that
impacted the mining and shipment of coal, has continued to erode
Xinergy's cash position.  Absent approval of additional borrowing
capacity, Xinergy currently lacks the liquidity needed to maintain
operations in the near term and to sustain its current capital
structure.  The confluence of these factors and Xinergy's
substantial debt burden have taken Xinergy to the point of
unsustainability absent the relief provided by chapter 11.

                       Restructuring Efforts

Xinergy's management team has taken various courses of action to
attempt to meet the challenges.  In the third quarter of 2012, in
response to poor market conditions for the sale of thermal and
metallurgical coal, Xinergy idled its thermal coal mining
operations at Raven Crest (including the Brier Creek underground
mines) and its high-volatile mining operations at True Energy.
Surface and high-wall mining operations at Raven Crest
resumed in January 2014 with the completion of the Bull Creek coal
preparation plant.  The adjacent underground mining operations at
Brier Creek and the high-volatile mining at True Energy remain
idled.  During this time, Xinergy continued its mining operations
at South Fork.

On Feb. 1, 2013, Xinergy entered into an asset purchase agreement
for a cash sale of its mining operations located in Kentucky known
as Straight Creek and Red Bird for $47.2 million.  The sale also
included the assumption of all of Xinergy's related asset
retirement obligations, which were valued at $7.2 million. The
purchaser of the assets was an investment fund majority owned by
Bayside, the former holder of the First Lien Term Loans.  The
Kentucky sale proceeds were held as restricted cash until used for
certain capital expenditures in accordance with the terms of the
Second Lien Notes.  As of Sept. 30, 2014, Xinergy held
approximately $1.07 million in restricted cash relating to the
Kentucky sale proceeds.

On March 31, 2014, Xinergy received $4.95 million from the sale of
common shares pursuant to a private placement.

On Nov. 6, 2014, Xinergy entered into a commitment for a secured
second lien credit agreement for convertible debt with Aries Energy
Group Venture Investor, LLC, in the principal amount of $25 million
(the "Aries Loan").  The proceeds of the proposed Aries
Loan would have provided Xinergy additional liquidity necessary to,
among other things, make the semi-annual interest payment on the
Second Lien Notes in the amount of $9 million due on Nov. 17, 2014.
Through no fault of Xinergy, the Aries Loan failed to close.
Nevertheless, the company was able to make the November interest
payment from cash from operations prior to the expiration of the
cure period.

As the risk that the Aries Loan would not close became apparent,
Xinergy began to anticipate a likely need to pursue a restructuring
under chapter 11.  In December 2014, Xinergy retained Global Hunter
Securities, a division of Seaport Global Securities LLC, as its
financial advisor to pursue financial and strategic alternatives,
including raising capital and other strategic transactions focused
on providing additional liquidity for the Company.

With the assistance of their professional advisors, Xinergy
searched for an alternative source of financing, including DIP
financing.  Xinergy and its advisors approached more than sixty
high quality institutional firms as potential sources of financing,
of which fifteen executed confidentiality agreements with Xinergy.
Ultimately, Xinergy secured commitment for a $40 million DIP
financing facility from certain funds managed on behalf of Whitebox
and Highbridge.  Approximately $20 of the DIP facility will be used
to pay all amounts outstanding under the First Lien Term Loan. The
balance of the DIP facility, net of certain fees and expenses, will
provide Xinergy additional liquidity to continue operations and
pursue a successful restructuring in chapter 11.

Accordingly, the Debtors have determined, in the prudent exercise
of their business judgment, that the commencement of these chapter
11 cases at this time is the best course of action to preserve
liquidity, gain access to DIP financing, and pursue reorganization
through a chapter 11 plan.  The Debtors believe that, despite its
costs, chapter 11 provides the tools necessary for Xinergy to
maximize value for the Debtors' estates and emerge with a stronger
capital structure. For the duration of the chapter 11 process, in
reliance on the First Day Motions, the Debtors will devote all of
their resources toward continuing and growing their profitable
operations in the ordinary course, honoring valuable customer and
vendor relationships and leveraging Xinergy's competitive advantage
as the market recovers.

                        First Day Motions

The Debtors on the Petition Date filed motions to:

   -- jointly administer their Chapter 11 cases;

   -- extend the time to file their schedules and statements;

   -- maintain their existing bank accounts;

   -- pay prepetition wages and employee benefits;

   -- prohibit utilities from discontinuing service;

   -- pay claims of critical vendors;

   -- continue their insurance programs;

   -- continue their surety bond program;

   -- pay prepetition taxes and fees;

   -- establish notification procedures for transfer of equity
interests; and

   -- authorize Xinergy Ltd. to act as foreign representative.

A copy of the affidavit in support of the first day motions is
available for free at:

    http://bankrupt.com/misc/Xinergy_1st_Day_Affidavit.pdf

                        About Xinergy Ltd.

Xinergy is a U.S. producer of metallurgical and thermal coal with
mineral reserves, mining operations and coal properties located in
the Central Appalachian ("CAPP") regions of West Virginia and
Virginia.  Xinergy's operations principally include two active
mining complexes known as South Fork and Raven Crest located in
Greenbrier and Boone Counties, West Virginia.  Xinergy also leases
or owns the mineral rights to properties located in Fayette,
Nicholas and Greenbrier Counties, West Virginia and Wise County,
Virginia. Collectively, Xinergy leases or owns mineral rights to
approximately 72,000 acres with proven and probable coal reserves
of approximately 77 million tons and additional estimated reserves
of 40 million tons.

Xinergy Ltd. and 25 subsidiaries commenced Chapter 11 bankruptcy
cases (Bankr. W.D. Va. Lead Case No. 15-70444) in Roanoke,
Virginia, on April 6, 2015.  The cases have been assigned to Judge
Paul M. Black.  The cases are being jointly administered for
procedural purposes.

The Debtors tapped Hunton & Williams LLP as attorneys; Global
Hunter Securities, as financial advisor, and American Legal Claims
Services, LLC as claims, noticing and balloting agent.


[*] 626 Churches Filed for Chapter 11 Bankruptcy From 2006 to 2013
------------------------------------------------------------------
About 626 churches filed for Chapter 11 bankruptcy protection in
the federal courts in the eight-year period from 2006 through 2013,
Scotsman Guide reports, citing a study by University of Indiana law
professor Pamela Foohey.

According to Scotsman Guide, Ms. Foohey estimated that about 35% of
the churches that filed for bankruptcy eventually had to shut down.


Ms. Foohey, Scotsman Guide relates, noted that the bankruptcy cases
do not present a complete picture of all the churches that
struggled during this period.  The report says that typically only
churches that held real property assets and were willing to pay
$10,000 for the standard retainer filed for a reorganization.

Scotsman Guide states that church building has steadily dropped for
the past decade, but it still remains a multibillion-dollar
industry, and therefore an opportunity.  Figures from the Census
Bureau show that churches spend $3.1 billion on construction
yearly.


                            *********

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
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herein is obtained from sources believed to be reliable, but is
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The TCR subscription rate is $975 for 6 months delivered via
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are $25 each.  For subscription information, contact Peter A.
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                   *** End of Transmission ***