TCR_Public/150427.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, April 27, 2015, Vol. 19, No. 117

                            Headlines

ACTIVECARE INC: Derrick Resigns as Exec. Chairman, Board Member
ALLIED NEVADA: Gets Final OK to Incur $78 Million DIP Financing
ALLY FINANCIAL: Offers to Buy 13M Shares of Preferred Stock
ALTEGRITY INC: Committee Selects Capstone as Financial Advisor
ALTEGRITY INC: Execs Got Payouts Before Firm Filed for Bankruptcy

AMPLIPHI BIOSCIENCES: Director Smithyman Resigns
API TECHNOLOGIES: Stockholders Elect Five Directors to Board
ARAMID ENTERTAINMENT: Reed Smith to Handle Litigation Claims
BARTON HILL: Stabilis Acquires Hotel; To Be Run By Scout Hotels
BION ENVIRONMENTAL: Watershed Improvement Act Introduced

BLACK KNIGHT: Moody's Assigns Ba3 Corporate Family Rating
BLACK KNIGHT: S&P Assigns 'BB-' CCR, Outlook Stable
BOTANICAL REALTY ASSOCIATES: Files Bare-Bones Chapter 11 Petition
BOTANICAL REALTY: Voluntary Chapter 11 Case Summary
BRUGNARA PROPERTIES IV: Saxe Mortgage's Stay Lift Motion Granted

BUILDERS FIRSTSOURCE: To Provide Lender Presentation on April 27
BUILDERS FIRSTSOURCE: Widens Q1 Loss to $7.07 Million
CAESARS ENTERTAINMENT: 2017 Bank Debt Trades at 8% Off
CAESARS ENTERTAINMENT: 2020 Bank Debt Trades at 5% Off
CAESARS ENTERTAINMENT: Creditors Block Plan Filing Extension

CAESARS ENTERTAINMENT: Fitch Affirms 'D' IDR Then Withdraws Rating
CE GENERATION: Moody's Cuts Sec Debt Rating to B1, Outlook Stable
CHASSIX HOLDINGS: Obtains Court Approval for Disclosure Statement
CORD BLOOD: Establishes Compensation for Non-Management Directors
DANIEL SALOMONE: Bid to Disqualify Lebowitz Firm Denied

DAYBREAK OIL: Announces 18% Increase in Proved Oil Reserves
DEERFIELD RANCH: Ordered to Take Measures to Protect NSI Liens
DJO GLOBAL: S&P Retains 'B-' CCR Over Term Loan Add-On
DORAL FINANCIAL: Bidding Procedures for Doral Insurance Sale OK'd
DUNE ENERGY: Asks Court to Overrule DIP Financing Objections

EMMAUS LIFE: Chairman Reports 37.7% Stake as of April 24
ENERGY & EXPLORATION: Bank Debt Trades at 14% Off
ENERGY FUTURE: Delaware Trust Wants Trial of Lifting Stay Deferred
EVANS & SUTHERLAND: Settles with PBGC for $10.5 Million
EVERYWARE GLOBAL: Court Issues Joint Administration Order

EVERYWARE GLOBAL: Has Interim OK to Tap DIP Loan, Use Cash
EVERYWARE GLOBAL: Has Until June 6 to File Schedules
EXIDE TECHNOLOGIES: PwC OK'd to Provide Loaned Staff Until May 31
FASTLANE HOLDING: S&P Lowers CCR to 'CCC+', Outlook Stable
FORTESCUE METALS: Bank Debt Trades at 11% Off

FOUNDATION HEALTHCARE: Adopts 2015 Bonus Incentive Plan
FRAC TECH: Bank Debt Trades at 19% Off
FREDERICK'S OF HOLLYWOOD: April 28 Meeting Set to Form Panel
FREESEAS INC: Closes $500,000 Financing with Alderbrook Ship
GETTY IMAGES: Bank Debt Trades at 13% Off

GOLD'S GYM OF SPRINGFIELD: Court Okays $1.78M Sale to Nas'Anno
GREENSHIFT CORP: Minority Interest Reports 9.9% Stake as April 21
GRIDWAY ENERGY: Judge Extends Deadline to Remove Suits to July 6
GRIGGS COUNTY: Moody's Lowers LT GO Issuer Rating to 'B3'
GUIDED THERAPEUTICS: Registers 56.6 Million Shares for Resale

HALCON RESOURCES: J.P. Morgan Swaps 40M Notes for 22.2M Shares
HALCON RESOURCES: Prices $700 Million of Senior Secured Notes
HERCULES OFFSHORE: Files Fleet Status Report as of April 22
HORIZON LINES: Sale of Hawaii Business Cleared by DOJ
HORIZON PHARMA: Moody's Says Debt Upsizing is Credit Negative

IMAGEWARE SYSTEMS: Amends 2014 Annual Report to Add Information
INDRA HOLDING: Moody's Alters Outlook to Negative & Affirms B2 CFR
INTELLIPHARMACEUTICS INT'L: Six Directors Elected to Board
J. CREW: Bank Debt Trades at 6% Off
JOHN ALTORELLI: Lied About Value of Assets, JPMorgan Chase Says

JOSEPH A. BURALLI: Wins Judgment Against Charles Cameron
KOBRA PROPERTIES: Former Principal Partner Indicted in Loan Fraud
KU6 MEDIA: Reports $10.7 Million Net Loss in 2014
LANDRY'S INC: S&P Raises Rating on $771.6MM Unsec. Notes to 'B-'
LEHMAN BROTHERS: Barclays Wins Latest Round in Fight Over Sale

LIME ENERGY: Director Stephen Glick Won't Seek for Re-Election
LONGVIEW POWER: Judge Extends Deadline to Remove Suits
LUNDIN MINING: S&P Raises CCR to 'BB-' on Higher Expected Output
M. MULLINS: Case Summary & 3 Largest Unsecured Creditors
MAPLE HEIGHTS, OH: Moody's Lowers GOLT Debt Rating to B3

MAUI LAND: Shareholders Elect Five Directors to Board
MCCLATCHY CO: Incurs $11.3 Million Operating Loss in First Quarter
MEDICURE INC: Expanded Dosing Time For AGGRASTAT Approved
MEDICURE INC: To Present at 2015 Bloom Burton Conference
MERIDIAN-PACIFIC HWY: Voluntary Chapter 11 Case Summary

METALICO INC: Amends 4.9 Million Shares Resale Prospectus
MGM RESORTS: Regulators OK Transfer of Gaming License to JETT
MISSION NEWENERGY: Has A$3.95-Mil. Cash at March 31
MJ ACQUISITION: Moody's Assigns 'B2' Corporate Family Rating
MOTORS LIQUIDATION: Trust Reveals No Distribution of Units in Q1

NET ELEMENT: Beno Distribution Reports 9.6% Stake as of April 13
NNN PARKWAY: Court Enters Amended Dismissal Order
NOBEL GROUP: Complaint v. Cathay Bank Dismissed
NYMOX PHARMA: Incurs $4.59-Mil. Net Loss in 2014
PACIFIC DRILLING: Bank Debt Trades at 13% Off

PACIFIC STEEL: Court to Take Up Plan Outline at April 28 Hearing
PARAGON OFFSHORE: Bank Debt Trades at 27% Off
PENTON BUSINESS: New $60MM Loan No Impact on Moody's 'B3' CFR
PENTON BUSINESS: S&P Keeps 'B+' Rating on 1st Lien Debt Over Add-On
PERKINS & MARIE: Almont Ambulatory v. UnitedHealth Dismissed

PERSONAL COMMUNICATIONS: Trust's Claims Against DLJ Dismissed
PHYSICAL PROPERTY: Ngai Keung Luk Has 94.5% Stake as of April 21
PIONEER ENERGY: S&P Affirms 'B+' CCR, Outlook Stable
PRESSURE BIOSCIENCES: To Issue 3-Mil. Shares Under Incentive Plan
PRONERVE HOLDINGS: $2.5MM Financing from SpecialtyCare Approved

PRONERVE HOLDINGS: Committee Wants Until May 5 to Challenge Liens
RADIOSHACK CORP: Hilco Soliciting Offers for Intellectual Property
RADIOSHACK CORP: Won't File 2015 Annual Form 10-K Report
RADNET MANAGEMENT: Moody's Says B2 CFR Unaffected by $75MM Loan
RADNET MANAGEMENT: S&P Lowers Rating on 1st Lien Debt to 'B'

REVEL AC: NJ Utility Agrees to Repower Casino for Two Weeks
RITE AID: Has Slight Hike in Revenue in 2014
ROADRUNNER ENTERPRISES: May 6 Final Hearing on Cash Collateral
ROADRUNNER ENTERPRISES: Selling Chesterfield Properties
ROADRUNNER ENTERPRISES: Wants to Sell Real Property for $125K

ROBERT MEIER: DIP Checking Account Belongs to Bankruptcy Estate
ROTELLI: Files for Chapter 11, Stops Sheriff's Sale
SALTON SEA: Moody's Cuts Senior Secured Debt Rating to Ba1
SB PARTNERS: Incurs $875,000 Net Loss in 2014
SCRUB ISLAND: Court Orders Further Mediation with Judge Delano

SCRUB ISLAND: Oscher Consulting Approved as Expert Witness
SEANERGY MARITIME: 2014 Annual Report on Form 20-F Now Available
SELECT MEDICAL: Moody's Affirms 'B1' Corporate Family Rating
SEVEN GENERATIONS: Moody's Raises Corporate Family Rating to B1
SG BLOCKS: Marcum Expresses Going Concern Doubt

SGX RESOURCES: Delays Filing of Statements; Applies for MCTO
SHIROKIA DEVELOPMENT: Hearing on Stay Relief Motion Moved to May 20
SIMBAKI LTD: December Rent Classified as Ch.11 Admin Expense
SPEEDEMISSIONS INC: Incurs $773,000 Net Loss in 2014
STELLAR BIOTECHNOLOGIES: To Sell $100-Mil. Worth of Securities

SVT MASTERS: Case Summary & 7 Largest Unsecured Creditors
TECHPRECISION CORP: Assigns $3.7-Mil. Alleged Claim Against GTAT
TRI-CITY COMMUNITY: Voluntary Chapter 11 Case Summary
TRUMP ENTERTAINMENT: Judge Extends Deadline to Remove Suits
TTM TECHNOLOGIES: Moody's Affirms 'B2' CFR, Outlook Stable

TXU CORP: 2017 Bank Debt Trades at 40% Off
UNI-PIXEL INC: Sets Operational Update Call for April 27
VANTAGE DRILLING: 2019 Bank Debt Trades at 39% Off
VARIANT HOLDING: DIP Amendment Okayed Without Objections
VERMILLION INC: Oracle Partners Reports 10.5% Stake as of April 24

VIGGLE INC: Obtains $1 Million New Loan From Executive Chairman
VISUALANT INC: To Sell $10 Million Worth of Common Shares
WEST COAST: April 30 Hearing on Chapter 11 Trustee Appointment
WET SEAL: CEO Says Self-Inflicted Issues Caused Bankruptcy
WET SEAL: Changes Company Name; Certificate of Amendment Filed

WET SEAL: Delays Filing of Annual Report on Form 10-K
WET SEAL: Langsdorf Named President, CEO, CFO & Secretary
WET SEAL: Versa Sale Closed; DIP Financing Terminated
WILLIAM AND MICHELLE: Voluntary Chapter 11 Case Summary
WYLE SERVICES: Moody's Raises Corp. Family Rating to B1

YAKIMA AIRPORT LAND: Voluntary Chapter 11 Case Summary
YELLOWSTONE MOUNTAIN: Lawyer Seeks Founder's Release from Jail
[*] 9th Annual Credit & Bankruptcy Symposium on May 7 to 8
[*] Latino Coalition Urges House Committee to Approve H.R. 870
[^] BOND PRICING: For the Week from April 20 to 24, 2015


                            *********

ACTIVECARE INC: Derrick Resigns as Exec. Chairman, Board Member
---------------------------------------------------------------
ActiveCare, Inc., received the voluntary resignation of David G.
Derrick as the executive chairman and member of the Board of
Directors effective April 18, 2015, according to a document filed
with the Securities and Exchange Commission.  Mr. Derrick's
resignation is not due to any disagreement with the Company or any
of its officer or director.  It is expected that Mr. Derrick may
remain available as a consultant to the Company.

The Company owes Mr. Derrick, or entities controlled by Mr.
Derrick, a promissory note with a balance of $396,667 and advances
totaling $63,375.  The promissory note and the advances are due on
demand.  The Company said it will negotiate compensation for
services and payments or other consideration to Mr. Derrick in
connection with his severance over the next two weeks.

Effective April 20, 2015, the Board of Directors appointed James
Dalton, age 74, as the Chairman of the Board of Directors and
principal executive officer, with the title executive chairman.  In
February 2015, Mr. Dalton entered into a one year consulting
agreement with the Company to lead the Company's sales organization
and received 2,000,000 restricted shares of common stock as
compensation for those services, to be paid over the term of the
agreement.  The Company has periodically engaged Mr. Dalton as a
consultant over the previous three years.

The Company selected Mr. Dalton to serve as the executive chairman
because of his experience in managing and developing sales programs
and his extensive knowledge of public markets.  Mr. Dalton
previously was a director of the Company from Oct. 1, 2004, until
July 12, 2012.  He was also the Company's chief executive officer
and Chairman from June 16, 2008, until Oct. 17, 2011, and a
director, president and chief executive officer from Oct. 17, 2011,
until July 12, 2012.

There are no family relationships between Mr. Dalton and any
director, executive officer or person nominated or chosen by the
Company to become a director or executive officer of the Company.

From August 2003 to June 2008, Mr. Dalton was president and a
director of SecureAlert, Inc., a company having a class of
securities registered under the Securities Exchange Act of 1934, as
amended.   In October 2014, Mr. Dalton consented to an
administrative order pursuant to Section 8A of the Securities Act
of 1933, as amended and Section 21C of the Exchange Act.  Mr.
Dalton neither admitted nor denied violating any scienter-based
provision of the Securities Act or the Exchange Act as alleged by
the Securities and Exchange Commission.

The facts set forth by the Commission in the Order occurred during
the period that Mr. Dalton was an officer and director of
SecureAlert and do not relate to the Company.  Pursuant to the
Order, Mr. Dalton agreed to cease and desist from committing or
causing any violations and any future violations of Sections
17(a)(2) and (3) of the Securities Act (non-scienter provisions
prohibiting obtaining money or property by means of a material
misrepresentation or omission or engaging in any transaction,
practice, or course of business which operates or would operate as
a fraud or deceit in the offer or sale of securities) and Sections
13(b)(2)(A) and (B), and 13(b)(5) of the Exchange Act and Rule
13b2-1 thereunder (requiring registrants having a class of
securities registered under Section 12 of the Exchange Act to make
and keep books, records, and accounts, which in reasonable detail,
accurately and fairly reflect the transactions and dispositions of
assets of the issuer) and Section 12(b)(2)(B) of the Exchange Act
(requiring registrants to devise and maintain a system of
sufficient internal accounting controls).  Mr. Dalton paid a
second-tier civil penalty of $65,000.  The Company said the Order
does not bar or prohibit Mr. Dalton from serving as a director or
executive officer of a public company nor does such Order implicate
any disqualification provision under Rule 506.

                          About ActiveCare

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

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

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

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

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


ALLIED NEVADA: Gets Final OK to Incur $78 Million DIP Financing
---------------------------------------------------------------
The Bankruptcy Court authorized, on a final basis, Allied Nevada
Gold Corp., et al., to:

   1. obtain postpetition secured DIP financing in the aggregate
principal amount of up to $78 million from Wilmington Savings Fund
Society, FSB, as administrative agent and collateral agent for the
lenders; and

   2. use cash collateral of the prepetition secured parties.

The Debtors would use the financing to finance their business
operations.

As adequate protection from any diminution in value of the lender,
the Debtors will grant the prepetition secured parties replacement
liens in the DIP collateral, and superpriority administrative
expense claim status, subject to the carve-out for fees.

A copy of the DIP Financing Order is available for free at:

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

The Court also overruled objections, including the objections filed
by the Official Committee of Unsecured Creditors and Ad Hoc
Committee.

The Committee submitted a protective objection and reservation of
rights.  The Committee said the proposed final order contains
certain terms that must be addressed and revised to ensure that
unsecured creditors are protected in the event the restructuring
support agreement and the restructuring transactions proposed
thereby fail to be effectuated.  Specifically, the Committee
requested these revisions to the proposed order:

   -- the adequate protection liens and superpriority claims
granted to the DIP Lenders and Prepetition Secured Parties must not
attach to the proceeds of avoidance actions under Chapter 5 of the
Bankruptcy Code;

   -- the Committee professional fees must be included in the
Debtors' DIP budget; and

   -- the final order should extend the investigation termination
date to provide the Committee with reasonable time to complete its
investigation of any loan party.

The Ad Hoc Committee objected to the valuation provisions that are
related to the DIP financing but that are described in the proposed
RSA.  Pursuant to that proposed agreement, the DIP lenders are to
be repaid by transfer of equity in the reorganized debtor.
However, according to the Ad Hoc Committee, the basis of the
valuation of that equity is not clearly explained and certainly has
not been tested in court.  It notes that the "DIP Facility Claims'
section of the Restructuring Term Sheet states that, on emergence,
the first $25 million of any outstanding balance on the DIP loan
will be paid with 25% of the equity of the reorganized company.

                       About Allied Nevada

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

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

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

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

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

The U.S. trustee appointed three creditors of the company to serve
on the official committee of unsecured creditors.



ALLY FINANCIAL: Offers to Buy 13M Shares of Preferred Stock
-----------------------------------------------------------
Ally Financial Inc. is offering to purchase up to 13,000,000 shares
of its outstanding Fixed Rate/Floating Rate Perpetual Preferred
Stock, Series A, liquidation amount $25.00 per share, for $26.65
per Series A Share.  The Offer Price represents the total
consideration payable per share and includes an amount equal to
accrued and unpaid dividends from May 15, 2015, the last dividend
payment date, to, but not including, the settlement date for the
purchase of the Series A Shares.

The Settlement Date for the Offer will occur after the May 15,
2015, dividend payment date for the Series A Shares.  Dividends
payable on May 15, 2015, will be paid to holders of record on
May 1, 2015, the record date for the dividend payment, regardless
of whether or not they tender any Series A Shares.

If, at the expiration of the Offer, more than 13,000,000 Series A
Shares have been validly tendered and not withdrawn, and all
conditions to the Offer have been satisfied or waived, the Company
will purchase 13,000,000 Series A Shares from the tendering holders
on a pro rata basis based on the number of Series A Shares tendered
by each holder, except that it will not purchase fractional Series
A Shares.

The Offer will expire at 11:59 p.m., New York City time, on
May 20, 2015, unless extended or terminated earlier by the Company.
Tendering holders may validly withdraw previously tendered Series
A Shares at any time before the Expiration Date.

The Series A Shares are listed on the New York Stock Exchange under
the symbol "ALLY PRB."  On April 22, 2015, the last trading day
prior to the date of this Offer to Purchase, the reported closing
price per Series A Share on the NYSE was $26.72.

A copy of the Tender Offer Statement is available for free at:

                        http://is.gd/9T3QFm

                       About Ally Financial

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

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

                           *     *     *

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

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

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


ALTEGRITY INC: Committee Selects Capstone as Financial Advisor
--------------------------------------------------------------
The Official Committee of Unsecured Creditors in Chapter 11 cases
of Altegrity, Inc., et al., asks the Bankruptcy Court for
permission to retain Capstone Advisory Group, LLC, and its
wholly-owned subsidiary Capstone Valuation Services, LLC, as its
financial advisor.

Capstone intends to communicate regularly with the Committee and
its legal advisors to insure that the actual financial advisory
services performed are appropriate based on the status of the case
and needs of the Committee.

Capstone will:

   a. review any critical vendor agreements that are entered into
between the Debtors and a stipulated critical vendor;

   b. advise and assist the Committee with respect to any
debtor-in-possession financing arrangements and use of cash; and

   c. review cash disbursements on an on-going basis for the period
subsequent to the commencement of the cases.

Capstone will charge a fixed monthly fee plus seek reimbursement
for its out-of-pocket expenses.  The fixed monthly fee will be
earned as:

   a. Feb. 25, 2015, until February 28, -- $14,285;
   b. March 1, until March 31 -- $100,000;
   c. April 1,until April 30 -- $100,000;
   d. Thereafter -- $75,000/month.

Upon confirmation, Capstone will also earn and subsequently be paid
a success fee of 1% of the gross recovery value allocated to the
general unsecured class.

The hourly rates for Capstone for the period until Dec. 31, are:

         Executive Directors                $625 - $895
         Managing Directors                 $475 - $640
         Directors                          $425 - $475
         Consultants                        $250 - $375
         Support Staff                      $125 - $325

The rates for the Capstone professionals anticipated to be assigned
to the engagement until Dec. 31, and their hourly rates are:

         Chris Kearns                          $895
         Duncan Pickett                        $725
         Bruce Bingham                         $820
         Jeffrey Dunn                          $640
         Will Russo                            $625
         Salman Tajuddin                       $510
         Chau Hoang                            $440
         Cory Griffin                          $250

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

                      About Altegrity Inc.

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

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

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

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

The Bankruptcy Court has scheduled for May 5, 2015, the hearing to
consider the approval of the disclosure statement explaining the
Debtor's plan, which proposes to liquidate the US Investigations
Services.  Land Line relates that USIS lost key federal background
check contracts.

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


ALTEGRITY INC: Execs Got Payouts Before Firm Filed for Bankruptcy
-----------------------------------------------------------------
Peg Brickley, writing for the Daily Bankruptcy Review, reported
that newly released court records reveal a company linked to some
of the biggest security stumbles of recent years shelled out $25.7
million to top executives the year before it filed for bankruptcy
protection.

According to the report, the money was channeled through parent
Altegrity Inc. and its subsidiaries, including US Investigations
Services, the company that vetted Edward Snowden, for work at the
National Security Agency, as well as Aaron Alexis, a
subcontractor's employee who killed 12 people in a shooting rampage
at the Washington Navy Yard.

                    About Altegrity Inc.

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

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

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

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

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


AMPLIPHI BIOSCIENCES: Director Smithyman Resigns
------------------------------------------------
Dr. Anthony Smithyman resigned from the Board of Directors of
AmpliPhi Biosciences Corporation effective April 16, 2015,
according to a document filed with the Securities and Exchange
Commission.

                           About AmpliPhi

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

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

PBMares, LLP, in Richmond, Virginia, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has had recurring losses from operations and has an
accumulated deficit that raise substantial doubt about its ability
to continue as a going concern.

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


API TECHNOLOGIES: Stockholders Elect Five Directors to Board
------------------------------------------------------------
API Technologies Corp. held its annual meeting of stockholders on
April 21, 2015, at which the stockholders elected Matthew E. Avril,
Brian R. Kahn, Melvin L. Keating, Kenneth J. Krieg and
Robert Tavares as directors.

The approval of the appointment of Ernst & Young LLP as the
Company's independent registered public accounting firm for the
fiscal year ended Nov. 30, 2015, was ratified.  The stockholders
also approved, on an advisory basis, the Company's executive
compensation.

                      About API Technologies

API Technologies designs, develops and manufactures electronic
systems, subsystems, RF and secure solutions for technically
demanding defense, aerospace and commercial applications.  API
Technologies' customers include many leading Fortune 500
companies.  API Technologies trades on the NASDAQ under the symbol
ATNY.  For further information, please visit the Company Web site
at http://www.apitech.com/     

API Technologies reported a net loss attributable to common
shareholders of $19.3 million for the year ended Nov. 30, 2014,
compared to a net loss attributable to common shareholders of $8.28
million for the year ended Nov. 30, 2013.

                           *     *     *

As reported by the TCR on Feb. 14, 2013, Moody's Investors Service
has withdrawn all ratings of API Technologies, including its
'Caa1' Corporate Family Rating and negative outlook due to the
repayment of all rated debt.  On Feb. 6, 2013, API Technologies
completed a refinancing of its previously outstanding rated
bank debt.  All ratings of API have been withdrawn since the
company has no rated debt outstanding.

In the Feb. 22, 2013, edition of the TCR, Standard & Poor's
Ratings Services said that it lowered its corporate credit rating
on API Technologies to 'B-' from 'B'.

"The downgrade reflects weaker-than-expected credit metrics
resulting from less-than-expected improvements in operating
performance and higher debt, including a modest increase from the
recent refinancing," said Standard & Poor's credit analyst Chris
Mooney.


ARAMID ENTERTAINMENT: Reed Smith to Handle Litigation Claims
------------------------------------------------------------
Aramid Entertainment Fund Limited, et al., ask the Bankruptcy Court
for approval to modify the terms of the engagement of Reed Smith
LLP.

The Debtors on Oct. 3, 2014, won approval to employ Reed Smith as
bankruptcy counsel, nunc pro tunc to the Petition Date.

Since the retention order was entered, the Debtors determined that
they would like to modify the terms of Reed Smith's engagement with
respect to the pursuit of certain litigation claims on a contingent
fee basis, plus reimbursement of expenses.

Reed Smith has agreed to pursue recoveries from certain former
outside professionals or service providers to the Debtors arising
out of the recovery targets' respective representation of, or
provision of professional services to, the Debtors in connection
with the Debtors' prepetition operations.

Reed Smith will, among other things:

  a) commence and prosecute the contingent fee engagement as
appropriate;

   b) negotiate settlements of the claim involved in the contingent
fee engagement; and

   c) perform other services as the Debtors deem necessary and
appropriate.

The contingent fee engagement does not include any appeals in
connection with the Debtors' recovery efforts against any recovery
targets.  The representation of the Debtors in any such appeals
will be handled pursuant to the terms of Reed Smith's existing
hourly engagement as general bankruptcy counsel.

The contingent fee will include:

   a) 25% of any recoveries of any nature actually received by the
Debtor from, on behalf of, or in connection with, each of
the recovery targets;

   b) 33.33% of any recoveries of any nature actually received by
the Debtor from, on behalf of, or in connection with, each of the
recovery targets, subject to Bankruptcy Court approval, at any time
from the date of filing of a complaint or written arbitration
demand, either within the Bankruptcy Court, before an arbitral
panel, or in any other forum, through the date that is 15 calendar
days immediately preceding any scheduled date for commencement of a
trial or proceeding on the merits of any complaint previously filed
with regard to any recovery target; and

   c) 40% of any recoveries of any nature actually received by
the Debtor from, on behalf of, or in connection with, each of the
recovery targets, subject to Bankruptcy Court approval, at any time
that is 14 calendar days immediately preceding any scheduled date
for commencement of a trial or proceeding on the merits of any
complaint previously filed through the date of full, final,
non-appealable resolution of any proceedings, no longer subject to
review or writ of certiorari, whether such resolution be following
negotiation, trial, appeal, or otherwise, with regard to any
recovery target.

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

The firm can be reached at:

         James C. McCarroll, Esq.
         Jordan W. Siev, Esq.
         Kurt F. Gwynne, Esq.
         REED SMITH LLP
         599 Lexington Avenue
         New York, NY 10022-7650
         Tel: (212) 521-5400
         Fax: (212) 521-5450
         E-mail: jmccarroll@reedsmith.com
                  jsiev@reedsmith.com
                  kgwynne@reedsmith.com

                     About Aramid Entertainment

Aramid Entertainment Fund Limited has been engaged in the business
of providing short and medium term liquidity to producers and
distributors of film, television and other media and entertainment
content by way of loans and equity investments.

On May 7, 2014, Geoffrey Varga and Jess Shakespeare of Kinetic
Partners (Cayman) Limited were appointed under Cayman law as the
joint voluntary liquidators ("JVLs") of AEF and two affiliates.

On June 13, 2014, the JVLs authorized AEF and two affiliates to
file for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Lead
Case No. 14-11802) in Manhattan on June 13, 2014.

The Debtors have tapped James C. McCarroll, Esq., Jordan W. Siev,
Esq., Richard A. Robinson, Esq., and Michael J. Venditto, Esq. of
Reed Smith, LLP, in New York, as counsel and Kinetic Partners
(Cayman) Limited as crisis managers.

AEF estimated at least $100 million in assets and between
$10 million to $50 million in liabilities.



BARTON HILL: Stabilis Acquires Hotel; To Be Run By Scout Hotels
---------------------------------------------------------------
Thomas Prohaska, writing for Buffalo News, reports that Barton Hill
Hotel in Lewiston has been taken over by Stabilis Capital
Management.

Buffalo News relates that Stabilis Capital, which won control of
the Barton Hill from its original owners, Edward and Diane
Finkbeiner, in a U.S. Bankruptcy Court settlement dated April 1,
2015, had acquired the hotel's delinquent mortgage, originally
issued in 2007 by CIT Lending Corp. and twice transferred after
that.  According to the report, the court settlement says Stabilis
Capital was owed more than $10.2 million in principal and interest
on the mortgage.  

Buffalo News recalls that the Finkbeiners' company filed for
Chapter 11 bankruptcy protection on Oct. 29, 2014, which prevented
foreclosure, but Stabilis Capital sought to dismiss the bankruptcy
filing, and in the settlement, grabbed the hotel and all its
assets.

According to Buffalo News, the County Treasurer's Office said that
Barton Hill owed $500,948 in unpaid county, town, village and
school taxes dating back to 2009.  Citing records at the County
Clerk's Office, the report states that Barton Hill has been hit
with 50 state or federal liens for delinquent tax payments since
2010, 37 of which are still unpaid.

Robin Kirk -- CEO of Scout Hotels, which signed a long-term
contract to operate the Barton Hill for Stabilis Capital -- said
that promised that all taxes would be paid.


BION ENVIRONMENTAL: Watershed Improvement Act Introduced
--------------------------------------------------------
Bion Environmental Technologies, Inc., announced that Pennsylvania
Senate Bill 724, the Watershed Improvement Act, was recently
introduced in the PA Senate Environmental Resources and Energy
Committee.  The legislation is focused on reducing the cost to
Pennsylvania's tax and ratepayers to comply with the state's
Chesapeake Bay pollution mandates.

If adopted, SB 724 will enable Pennsylvania's public authorities to
procure low-cost verified nutrient reduction credits from all
sources, including manure treatment technologies such as Bion's.
The bill would establish a competitively bid program to be
administered by the Department of Environmental Protection and the
Pennsylvania Infrastructure Investment Authority.  The program
would acquire verified credits on behalf of and up to the extent of
the commitment of public authorities based on cost and the value of
local environmental benefits, which is consistent with how the
state presently procures the bulk of its goods and services.

All credits would have to be verified through a DEP-approved
verification plan.  Verification would be determined either by an
approved verification plan including onsite monitoring and
measurement, or through the application of an 'uncertainty factor'
to approved Best Management Practices that are based on historical
models and subject to a wide range of variables.  The Kreider Farms
Dairy-Bion system, which was financed by PENNVEST, has a
DEP-approved verification plan in place that is supported by its
onsite monitoring and testing capability, as would future Bion
projects.  

The Watershed Improvement Act, sponsored by Senator Elder Vogel
(R-47), is supported by major state and national livestock
production stakeholders.  Livestock waste cleanup represents a
large, virtually untapped source of nutrient reductions that can
dramatically reduce costs while accelerating compliance with the
Pennsylvania's Chesapeake Bay mandates.  In a bipartisan 2013
report, Pennsylvania's Legislative Budget and Finance Committee
projected annual savings up to $1.5 billion (80 percent) in Bay
compliance costs by 2025, if the state adopts a competitive bidding
program to procure verified nutrient reductions.

The Chesapeake Bay TMDL (total maximum daily load) requires
substantial reductions in nitrogen, phosphorus and sediment from
the six Bay states and Washington, D.C. Pennsylvania missed its
2013 nitrogen reduction target by 2 million pounds and is projected
to miss 2017's targets by at least 5 to 10 million pounds.  A
Special Report, recently issued by the Pennsylvania Auditor
General, highlighted the economic consequences of EPA-imposed
sanctions if the state fails to meet the 2017 TMDL targets, as well
as the need to support using low-cost solutions and technologies as
alternatives to higher-cost public infrastructure projects, where
possible.

Craig Scott, Bion's director of communications, stated, "We applaud
Senator Vogel for his commitment to both a healthy Bay and
Pennsylvania's tax- and rate-payers.  SB 724 offers an affordable
path to meet the state's Bay mandates, especially with looming
requirements in the stormwater sector.  It will be substantially
less expensive and more effective to remove nitrogen and phosphorus
from livestock waste at the farm, while it is still concentrated,
than it will be to clean it up through stormwater remediation.  We
look forward to working with DEP and PENNVEST on Kreider Phase 2,
as well as other projects in the state."

Bion's proven and patented technology platform provides verifiable
comprehensive environmental treatment of livestock waste and
recovers renewable energy and valuable nutrients from the waste
stream.  For more information, visit www.biontech.com.

                     About Bion Environmental

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

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

The Company's balance sheet at Dec. 31, 2014, showed $4.07 million
in total assets, $12.8 million in total liabilities, $24,400 in
series B Redeemable Convertible Preferred stock and total
stockholders' deficit of $8.77 million.
  
GHP Horwath, P.C., in Denver, Colorado, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2014, stating that the Company has not generated
significant revenue and has suffered recurring losses from
operations.  These factors raise substantial doubt about its
ability to continue as a going concern.


BLACK KNIGHT: Moody's Assigns Ba3 Corporate Family Rating
---------------------------------------------------------
Moody's Investors Service assigned a corporate family rating and
probability of default rating of Ba3 and Ba3-PD, respectively, to
Black Knight InfoServ, LLC (BKIS). Moody's also assigned an SGL-2
speculative grade liquidity ("SGL") rating and Ba2 ratings to
BKIS's proposed $1.6 billion senior secured credit facilities,
comprised of a $400 million revolver, $800 million Term Loan A and
$400 million Term Loan B. The ratings outlook is stable.

The proceeds from the proposed financing, along with proceeds from
the announced initial public offering (IPO) of BKIS's ultimate
parent, Black Knight Financial Services, Inc. (BKFS), will be used
to pay existing debt of BKIS and BKFS. The closing of the senior
secured credit facilities are contingent upon the closing of the
IPO. Following the closing of the IPO, the debt of BKIS will be
comprised of borrowings under the proposed senior secured credit
facilities and $390 million of senior unsecured notes. The Baa3
rating on the senior unsecured notes reflects the guarantee
provided by Fidelity National Financial, Inc. (FNF, Baa3 senior
unsecured rating).

BKIS's Ba3 CFR reflects the company's leading market position as a
provider of mission critical technology, workflow automation, and
data and analytics to the mortgage industry, high recurring
revenues, a customer base consisting of many of the largest
mortgage and loan originators in the US and high EBITDA margins.
The ratings are constrained by high pro forma debt to EBITDA
(Moody's adjusted) of 5.1x for FY 2014, limited product line
diversity, moderate free cash flow and moderately high customer
concentration. BKIS revenues are primarily driven by the number of
mortgages outstanding and, as such, revenues are only modestly
affected by changes in mortgage origination and refinancing
activity.

The SGL-2 speculative grade liquidity rating reflects good
liquidity. Over the year following the closing of the IPO, Moody's
expects free cash flow of around $100 million, significant
availability under the revolver and adequate cushion under
financial covenants in the credit facility.

The stable rating outlook reflects Moody's expectation that BKIS
will reduce debt to EBITDA (on a Moody's adjusted basis) to about
4.5x over the next year while maintaining EBITDA margins above 40%
and free cash flow to total debt in the 6-7% range.

BKIS's rating could be upgraded if it demonstrates sustained growth
in revenues and profitability such that FCF / debt increases to
about 12% and Debt to EBITDA declines to under 4x.

BKIS's rating could be downgraded if revenues and profitability
decline or financial policies become more aggressive such that
leverage is sustained above 5x.

The following ratings were assigned:

Issuer: Black Knight InfoServ, LLC

- Corporate Family Rating -- Ba3

- Probability of Default Rating -- Ba3-PD

- Speculative Grade Liquidity Rating -- SGL-2

- Senior Secured Revolving Credit Facility -- Ba2 (LGD3)

- Senior Secured Term Loan A -- Ba2 (LGD3)

- Senior Secured Term Loan B -- Ba2 (LGD3)

- Outlook -- Stable

Headquartered in Jacksonville, Florida, BKFS is a leading provider
of integrated technology, workflow automation and data and
analytics to the mortgage industry. BKFS had approximately $852
million in revenues from continuing operations for fiscal year
ending December 31, 2014.

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


BLACK KNIGHT: S&P Assigns 'BB-' CCR, Outlook Stable
---------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-'corporate
credit rating to Jacksonville, Fla.-based Black Knight Financial
Services Inc. (BKFS).  The outlook is stable.

At the same time, S&P assigned its 'BB' issue-level rating and '2'
recovery rating to the Black Knight Infoserv LLC's proposed $1.2
billion senior secured first-lien term loan and $400 million
revolving credit facility.  The '2' rating indicates S&P's
expectation for substantial recovery (70%-90%; at the higher end of
the range) in the event of payment default.

Finally, S&P's issue-level rating on Black Knight InfoServ LLC's
$600 million senior unsecured notes due 2023 remains 'BBB', based
on the unconditional guarantee by the parent company Fidelity
National Financial, which will continue to be a majority owner
following the IPO.

"The rating on BKFS reflects our view of its narrowly focused
business risk profile within the mortgage processing solutions
market, its limited scale, and pro forma leverage in the 5x area,
which we expect to decline in 2015 to the mid-4x level and
characterize as an 'aggressive' financial risk profile," said
Standard & Poor's credit analyst Sylvester Malapas.

The stable outlook reflects S&P's view of the company's leading and
defensible market position and S&P's expectation for modest revenue
growth and leverage reduction over the next year.



BOTANICAL REALTY ASSOCIATES: Files Bare-Bones Chapter 11 Petition
-----------------------------------------------------------------
Botanical Realty Associates Urban Renewal, LLC, commenced a Chapter
11 bankruptcy case (Bankr. E.D.N.Y. Case No. 15-41835) in Brooklyn,
without stating a reason.  The Debtor, a Single Asset Real Estate
as defined in 11 U.S.C. Sec. 101(51B), says its principal asset is
located at 125 Monitor Street, Jersey City, New Jersey.  It says
that its assets are worth $10 million to $50 million and total debt
is less than $10 million.  David Carlebach, Esq., at The Carlebach
Law Group, in New York, serves as counsel.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due Aug. 21, 2015.


BOTANICAL REALTY: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Botanical Realty Associates Urban Renewal, LLC
        1877 East 9th Street
        Brooklyn, NY 11223

Case No.: 15-41835

Type of Business: Single Asset Real Estate

Chapter 11 Petition Date: April 23, 2015

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Hon. Elizabeth S. Stong

Debtor's Counsel: David Carlebach, Esq.
                  THE CARLEBACH LAW GROUP
                  55 Broadway, Suite 1902
                  New York, NY 10006
                  Tel: (347) 329-1241
                  Fax: (646) 355-1916
                  Email: david@carlebachlaw.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $1 million to $10 million

The petition was signed by Leib Puretz, managing member.

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

Botanical Realty is an affiliate of Liberty Towers Realty I, LLC
(Case No: 14-45189) and Liberty Towers Realty LLC (Case No.
14-45187 ), which filed for Chapter 11 bankruptcy petitions on Oct.
15, 2014.


BRUGNARA PROPERTIES IV: Saxe Mortgage's Stay Lift Motion Granted
----------------------------------------------------------------
The Hon. Dennis Montali of the U.S. Bankruptcy Court for the
Northern District of California has granted junior lienholder Saxe
Mortgage Company's motion to lift the automatic stay, effective
July 27, 2015, at which time or any time thereafter, it may pursue
all of its state law rights and remedies under its deed of trust
recorded against Brugnara Properties VI's real property at 224 Sea
Cliff Avenue, San Francisco.  The Debtor may move to extend the
date on 10 days notice if and only if it has a bona fide accepted
offer on the Property, with no conditions, and ready to close.

The Debtor asked the Court on April 15, 2015, to deny the Motion,
or, in the alternative, continue a hearing on the motion for six
months to allow the Debtor to finalize post-petition financing
negotiations and to allow the Saxe Mortgage to serve the Motion
properly.  The Debtor stated that the Motion must be denied
because: (i) Saxe Mortgage served the Motion only on the Debtor,
Debtor's counsel, and the Office of the U.S. Trustee, but not on
the 20 largest unsecured creditors listed by the Debtor; and (ii)
with a senior lien in favor Wells Fargo in the amount $6 million,
and in light of the good faith dispute surrounding the propriety of
the purported governmental tax liens, Saxe Mortgage has an equity
cushion in excess of 20% and is adequately protected.

Saxe Mortgage filed the Motion on March 2, 2015.  At the March 19,
2015 hearing, the Court ordered that relief from stay would be
granted on March 31, 2015, if the Debtor did not obtain new counsel
by that time.  On March 30, 2015, the Debtor filed an application
to employ as Chapter 11 bankruptcy counsel
Matthew D. Metzger, Esq., at Belvedere Legal, PC, which application
the Court approved.

On April 14, 2015, the Debtor filed an application to employ a
broker, Shaban Shakoori, to (i) list the property on the Multiple
Listing Service and thereby obtain a true and accurate
representation of fair market value based on the average of actual
offers received; and (ii) in the alternative, to liquidate the
Property for the benefit of the estate and its creditors.  The
Broker's multiple listing agreement projects a listing price --
which price also serves as a broker's price opinion, of $20
million.

The Debtor's counsel identified a need to determine the validity to
which any governmental tax liabilities owed by Luke Brugnara
rightfully attach to the Property, as the 100% of the shares of
Debtor's corporation are owned as the sole and separate property of
the Debtor's interim president, Katherine Brugnara.

In an objection dated March 13, the Debtor claimed that, among
other things, Saxe Mortgage's attorney erroneously cites "Zillow"
as a basis for value, the Debtor claims.  "Zillow" is not an
appraisal company and relies upon property tax valuations, which do
not accurately reflect market value.  The Motion, according to the
Debtor, inaccurately and false states Luke Brugnara to be the
Debtor's principal owner.  

On March 18, 2015, Saxe Mortgage responded to the Debtor's
objection, saying that Luke Brugnara, currently in federal custody,
claims he has "several lenders who can refinance" Saxe Mortgage's
loan but he needs to be out of confinement to do so.  

Mr. Brugnara, according to Saxe Mortgage, seems to ignore the
non-owner occupancy rider he signed on July 5, 2013, as president
of the Debtor, in which "borrower attests that the subject property
is not his principal residence and he has no intention of occupying
it as such."  Saxe Mortgage claimed that Katherine Brugnara has
also ignored the intent of the Rider prohibiting the Debtor from
residing in the Property, especially as she now contends that she
resided in the Property at the time the Rider was executed.

As of March 17, 2015, Saxe Mortgage is owed $1,864,766.85, in
addition to accruing interest, attorneys' fees and costs, not
$100,000 as the Debtor contends.  Monthly payments are due for Aug.
15, 2014; the 12-month pre-payment which Saxe Mortgage advanced in
connection with the making of its loan has ended.  Saxe Mortgage
claimed that the Debtor has not paid Wells Fargo Bank since Saxe
Morgage pre-paid 12 months of payments to the senior lender.  As to
the amount owed to the Bank, "we can assume that it far exceeds the
$6,154,000 listed in the Debtor's schedules," Saxe Mortgage
stated.

Saxe Mortgage claimed that its equity is diminishing as the debt to
the senior lender increases.  As the Bank has insured the Property
to the extent of its original loan amount only, the Property is
seriously under-insured and over-encumbered.

Martha J. Simon, Esq., at the Law Offices of Martha J. Simon, the
attorney for Saxe Mortgage, can be reached at:

      Law Offices of Martha J. Simon
      155 Montgomery Street, Suite 1004
      San Francisco, California 94104
      Tel: (415) 434-1888
      Fax:  (415) 434-1880

                    About Brugnara Properties

Brugnara Properties VI filed a Chapter 11 petition (Bankr. N.D.
Cal. Case No. 14-31867) in San Francisco, California, on Dec. 31,
2014, without stating a reason.  

On January 2, 2015, Judge Hannah L. Blumensteil of the U.S.
Bankruptcy Court for the Northern District of California
transferred the Chapter 11 case of Brugnara Properties to Judge
Dennis Montali.

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

The Debtor only filed the Schedule D - Creditors Holding Secured
Claims in its Schedules of Assets and Liabilities.  

The Debtor disclosed that Wells Fargo Home Mortgage is owed $6.15
million on a first note secured by the Debtor's property, and Saxe
Mortgage Co. is owed $1.7 million on a second note.

The deadline for filing claims is May 4, 2015.

The Debtor is represented by Erik G. Babcock, Esq., at Law Office
of Erik G. Babcock, in Oakland, California.


BUILDERS FIRSTSOURCE: To Provide Lender Presentation on April 27
----------------------------------------------------------------
Builders FirstSource, Inc., will be providing a presentation on
April 27, 2015, to certain lenders in connection with the
contemplated debt financing of the Company's previously announced
acquisition of ProBuild Holdings LLC.  Completion of the
Acquisition remains subject to certain regulatory approvals and
other customary conditions.  There can be no assurance that the
contemplated financing or the Acquisition will be completed.

The Company's presentation, in addition to containing results that
are determined in accordance with accounting principles generally
accepted in the United States of America, contains certain
"non-GAAP financial measures" as that term is defined by the rules
and regulations of the Securities and Exchange Commission.

An excerpt from Lender Presentation dated April 27, 2015, is
available for free at http://is.gd/H4TIGH

                     About Builders FirstSource

Headquartered in Dallas, Texas, Builders FirstSource is a supplier
and manufacturer of structural and related building products for
residential new construction.  The Company operates 56 distribution
centers and 56 manufacturing facilities in nine states, principally
in the southern and eastern United States. Manufacturing facilities
include plants that manufacture roof and floor trusses, wall
panels, stairs, aluminum and vinyl windows, custom millwork and
pre-hung doors.  Builders FirstSource also distributes windows,
interior and exterior doors, dimensional lumber and lumber sheet
goods, millwork and other building products.  For more information
about Builders FirstSource, visit the company's Website at
www.bldr.com.

Builders Firstsource reported net income of $18.2 million on $1.60
billion of sales for the year ended Dec. 31, 2014, compared to a
net loss of $42.7 million on $1.48 billion of sales in 2013.
As of Dec. 31, 2014, the Company had $583 million in total assets,
$543 million in total liabilities and $40.2 million in total
stockholders' equity.

                           *     *     *

As reported by the TCR on May 15, 2013, Standard & Poor's Ratings
Services Inc. said it raised its corporate credit rating on
Dallas-based Builders FirstSource to 'B' from 'CCC'.  "The upgrade
acknowledges U.S.-based building materials manufacturer and
distributor Builders FirstSource's 'strong' liquidity based on the
company's proposed recapitalization," said Standard & Poor's credit
analyst James Fielding.

In the May 13, 2014, edition of the TCR, Moody's Investors Service
upgraded Builders FirstSource's Corporate Family Rating to 'B3'
from 'Caa1'.  The upgrade reflects Moody's expectation that BLDR's
operating performance will continue to benefit from improved
housing construction, repair and remodeling.


BUILDERS FIRSTSOURCE: Widens Q1 Loss to $7.07 Million
-----------------------------------------------------
Builders FirstSource, Inc. reported a net loss of $7.07 million on
$371 million of sales for the three months ended March 31, 2015,
compared with a net loss of $3.38 million on $346 million of sales
for the same period in 2014.

As of March 31, 2015, the Company had $625 million in total assets,
$591 million in total liabilities, and $34.0 million in total
stockholders' equity.

Commenting on the Company's results, Builders FirstSource CEO Floyd
Sherman said, "I am extremely pleased with our start to fiscal
2015, as our first quarter sales of $371 million and our Adjusted
EBITDA of over $11 million exceeded our first quarter 2014 results.
We were able to achieve these positive results despite the
negative impact of commodity deflation on our current quarter
sales, as average market prices for framing lumber have fallen 11.8
percent since the beginning of the year, and are down 13.6 percent
when compared to the first quarter of 2014.  As a result, our
lumber and lumber sheet good sales were down 1.0 percent versus
first quarter 2014 sales in the same product category.  However,
our value-added sales of prefabricated components, windows & doors,
and millwork increased 12.8 percent versus first quarter 2014 sales
in the same product categories, largely due to our recent
acquisitions."

Chad Crow, Builders FirstSource President, COO and CFO, added, "Our
90 basis point improvement in gross margin reflects our on-going
focus on profitable growth.  Adjusted EBITDA flow thru on
incremental sales for the quarter was approximately 11%, as we
increased our Adjusted EBITDA margin by 50 basis points."

Concluding, Mr. Sherman added, "Demand for new housing continues to
slowly yet consistently improve, and we look to use this momentum
to grow our revenues and market share, while continuing to improve
our operating margins.  Our recently announced transaction with
ProBuild, which we expect to close in the second half of 2015, will
be a high priority for us in the coming months, and we look forward
to being able to bring the best talent in the industry together as
one team.  We believe this transaction significantly enhances our
opportunity for growth, and we have never been more excited about
the future prospects for our company."

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

                        http://is.gd/E8PwBk

                     About Builders FirstSource

Headquartered in Dallas, Texas, Builders FirstSource --
http://www.bldr.com/-- is a supplier and manufacturer of
structural and related building products for residential new
construction.  The Company operates 56 distribution centers and 56
manufacturing facilities in nine states, principally in the
southern and eastern United States. Manufacturing facilities
include plants that manufacture roof and floor trusses, wall
panels, stairs, aluminum and vinyl windows, custom millwork and
pre-hung doors.  Builders FirstSource also distributes windows,
interior and exterior doors, dimensional lumber and lumber sheet
goods, millwork and other building products.

Builders Firstsource reported net income of $18.2 million on $1.60
billion of sales for the year ended Dec. 31, 2014, compared to a
net loss of $42.7 million on $1.48 billion of sales in 2013.

                           *     *     *

As reported by the TCR on May 15, 2013, Standard & Poor's Ratings
Services Inc. said it raised its corporate credit rating on
Dallas-based Builders FirstSource to 'B' from 'CCC'.  "The upgrade
acknowledges U.S.-based building materials manufacturer and
distributor Builders FirstSource's 'strong' liquidity based on the
company's proposed recapitalization," said Standard & Poor's credit
analyst James Fielding.

In the May 13, 2014, edition of the TCR, Moody's Investors Service
upgraded Builders FirstSource's Corporate Family Rating to 'B3'
from 'Caa1'.  The upgrade reflects Moody's expectation that BLDR's
operating performance will continue to benefit from improved
housing construction, repair and remodeling.


CAESARS ENTERTAINMENT: 2017 Bank Debt Trades at 8% Off
------------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
92.13 cents-on-the-dollar during the week ended Friday, April 24,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 0.20 percentage points from the previous week, The
Journal relates.  Caesars Entertainment Inc. pays 875 basis point
above LIBOR to borrow under the facility.  The bank loan matures on
March 1, 2017, and carries Moody's withdraws its rating and
Standard & Poor's D rating.  The loan is one of the biggest gainers
and losers among 243 widely quoted syndicated loans with five or
more bids in secondary trading for the week ended Friday.



CAESARS ENTERTAINMENT: 2020 Bank Debt Trades at 5% Off
------------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
95.48 cents-on-the-dollar during the week ended Friday, April 24,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 0.16 percentage points from the previous week, The
Journal relates.  Caesars Entertainment Inc. pays 600 basis points
above LIBOR to borrow under the facility.  The bank loan matures on
Sept. 24, 2020.  Moody's rates the loan 'B2' and Standard & Poor's
gave a 'CCC+' rating to the loan.  The loan is one of the biggest
gainers and losers among 243 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.



CAESARS ENTERTAINMENT: Creditors Block Plan Filing Extension
------------------------------------------------------------
Tom Hals at Reuters reports that Caesars Entertainment Operating
Company, Inc., et al.'s creditors have objected to the Debtors'
request to extend to Nov. 15 from May 15 their exclusive right to
file a Chapter 11 plan.

As reported by the Troubled Company Reporter on April 20, 2015, the
Debtors filed on April 15, 2015, a motion asking the U.S.
Bankruptcy Court for the Northern District of Illinois to extend
the Debtors' exclusive right to file a Plan through and including
Nov. 15, 2015, and to solicit votes on the Plan through and
including Jan. 15, 2016.  A hearing on the Motion is set for April
29, 2015, at 1:30 p.m. (prevailing Central Time).

According to Reuters, the creditors said they wanted to stop
extension so other plans could be proposed.  Reuters relates that
among those objecting were the Debtors' lone allies, a group known
as the first-lien noteholders who preferred an extension to
September.

                    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.


CAESARS ENTERTAINMENT: Fitch Affirms 'D' IDR Then Withdraws Rating
------------------------------------------------------------------
Fitch Ratings has affirmed and withdrawn the Issuer Default Ratings
(IDR) and issue ratings of Caesars Entertainment Operating Company
(CEOC).  These actions follow CEOC's Chapter 11 filing on Jan. 15,
2015.  Accordingly, Fitch will no longer provide ratings or
analytical coverage for CEOC.

In addition, Fitch has affirmed the IDR and issue rating of Chester
Downs and Marina LLC (Chester Downs) and the ratings have been
simultaneously withdrawn for business reasons.

These ratings of CEOC have been affirmed and withdrawn:

   -- Long-term IDR at 'D';
   -- Senior secured first-lien revolving credit facility and term

      loans at 'CCC/RR1';
   -- Senior secured first-lien notes at 'CCC-/RR2';
   -- Senior secured second-lien notes at 'C/RR6';
   -- Senior unsecured notes with subsidiary guarantees at
      'C/RR6';
   -- Senior unsecured notes without subsidiary guarantees at
      'C/RR6'.

These ratings of Chester Downs have been affirmed and withdrawn:

   -- Long-term IDR at 'CCC';
   -- Senior secured notes at 'CCC+/RR3'.



CE GENERATION: Moody's Cuts Sec Debt Rating to B1, Outlook Stable
-----------------------------------------------------------------
Moody's Investors Service downgraded the senior secured debt rating
of CE Generation LLC's (CE Gen or Project) to B1 from Ba2.
Concurrent with this rating action, Moody's also revised CE Gen's
rating outlook to stable from negative.

The downgrade to B1 from Ba2 considers Moody's concerns about the
ability of CE Gen to service its debt obligations going forward
from subsidiary project distributions alone, owing primarily to a
cash trap that exists at the Salton Sea Funding Corporation (Salton
Sea; Ba1, stable) subsidiary, the historically primary source of
dividends for CE Gen. Because the restricted payments test at
Salton Sea of 1.5x (12 months look forward and look backward) is a
higher standard than witnessed at most other projects, CE Gen will
need to rely upon modest dividends from its other projects along
with capital contributions from its parent, Berkshire Hathaway
Energy Company (BHEC; A3 stable) to satisfy its debt service
obligations. In the absence of support from BHEC, CE Gen's rating
would most likely end up being several rating categories lower than
the upper end of the B rating category. CE Gen is not expected to
draw upon its $19.6 million sponsor provided debt service reserve
letter of credit (representing 6 months of debt service) to meet
ongoing debt service. Instead, CE Gen will continue to rely on
sponsor support from BHEC to cover debt service through December
2018, the maturity date of the CE Gen debt.

In conjunction with this rating action, Moody's downgraded the
rating at Salton Sea to Ba1 from Baa3 reflecting the continuation
of weak financial performance anticipated over the next several
years owing primarily to lower US natural gas prices impacting
future revenues through the short run avoided cost (SRAC) pricing
mechanism within the majority of the contracts between Salton Sea
and Southern California Edison Company (SCE; A2 stable). The
downgrade also considers our view that Salton Sea will maintain
higher capital expenditures (capex) in each of the next four years
to invest in new equipment needed to support anticipated generation
requirements beyond the life of the current contracts. For further
details on the Salton Sea rating action, please refer to the Salton
Sea press release also dated April 23, 2015, which can be found on
Moodys.com.

While the CE Gen portfolio has some asset and cash flow
diversification from three natural gas-fired plants - the Saranac,
Yuma and Power Resources plants, all of which are debt free --
these three plants are expected to contribute modest cash flow to
CE Gen going forward. The Salton Sea subsidiary has historically
contributed $30-$50 million to its parent and thus has been the
greatest contributor to CE Gen's financial performance. However,
because of weaker performance and the existence of cash traps,
Salton Sea has not contributed any distributions to CE Gen during
2013 or 2014 and is not expected to do so until 2018. Because the
cash trap is likely to persist through the term of the debt,
today's rating action results in a wider (three notch) rating
differential between the Ba1 rating at Salton Sea and the B1 rating
at CE Gen.

Importantly, the B1 rating at CE Gen captures consistent and
significant sponsor financial support for the Project. Prior to
June 2014, CE Gen was indirectly-owned by a joint venture between
BHEC and TransAlta Corporation (TAC; Baa3 negative). During 2013
the co-owners together injected $34 million of equity into CE Gen
to support debt service at CE Gen and primary subsidiary, Salton
Sea. In June 2014, BHEC bought TAC's 50% stake in CE Gen for
approximately $180 million resulting in BHEC now being a 100% owner
of both Salton Sea and CE Gen. The sale is an additional data point
that exemplifies the degree to which BHEC has supported CE Gen.
During 2014, BHEC contributed a total of $54 million to CE Gen and
Salton Sea to enable both issuers to meet debt service and satisfy
Salton Sea's capex requirements of $50.7 million. We understand
that BHEC will contribute an additional $45 million to the
consolidated concern during 2015. While there is no formal equity
commitment obligation from BHEC to CE Gen, the B1 rating factors in
the expectation that BHEC will continue to make capital
contributions as needed to enable CE Gen meet debt service through
the term of the CE Gen debt.

CE Gen's stable rating outlook factors in the expectation that BHEC
will continue to support the consolidated CE Gen, as it has in the
past, even though it is not legally obligated to do so.

In light of today's downgrade, the rating is not expected to be
upgraded in the near term particularly since standalone DSCRs are
anticipated to remain well below 1.00 times through the December
2018 maturity of the debt. Moreover, the current B1 rating
incorporates the benefits of ownership by and support from BHEC.

The rating and outlook could come under downward pressure if BHEC
fails to provide the expected capital infusions to CE Gen to meet
debt service shortfalls. Should such event unexpectedly surface, a
severe multi-notch rating downgrade at CE Gen would most likely
occur. Additionally, negative rating pressure could emerge if an
unforeseen sustained forced outage occurred at Salton Sea.

The principal methodology used in these ratings was Power
Generation Projects published in December 2012.


CHASSIX HOLDINGS: Obtains Court Approval for Disclosure Statement
-----------------------------------------------------------------
Chassix Holdings, Inc., on April 23 disclosed that the Company and
its U.S. subsidiaries have received approval from the United States
Bankruptcy Court for the Southern District of New York of the
Disclosure Statement filed in connection with the Company's
pre-negotiated restructuring and recapitalization.  Approval of the
Disclosure Statement allows Chassix to solicit approval of the Plan
from its creditors.  The hearing to consider approval of the Plan
by the Bankruptcy Court is scheduled to commence on June 30, 2015.

As previously announced, the Plan is supported by approximately 80%
of the Company's unsecured bondholders and approximately 73% of its
senior secured bondholders, its existing sponsor, and all of the
Company's largest customers.  Among other things, the Plan provides
for a debt-for-equity swap that will significantly reduce the
Company's outstanding bond debt and debt payment obligations.

"The Court's authorization allows us to begin the solicitation of
votes on our pre-negotiated Plan and represents another positive
milestone in Chassix's restructuring process, following the Court's
recent approval of our $250 million DIP financing and the Exit
Financing Commitment providing access to $45 million of additional
liquidity," said Mark Allan, Chassix Chief Executive Officer.  "We
already have significant support of the Plan from our bondholders,
existing sponsor and all of our largest customers, which combined
with the assurances that the necessary exit financing will be
available to Chassix, make us confident in our ability to emerge
from Chapter 11 in the Summer of 2015.  We look forward to emerging
as a robust, well-capitalized global automotive supplier and thank
all of our stakeholders for their support throughout this process.
We remain as focused as ever on providing our customers with
high-quality products and service in the coming months and ensuring
that our operations continue in the ordinary course."

Chassix will begin the process of soliciting votes for the Plan
from eligible stakeholders immediately following entry of the
order.  The Court has set a voting deadline of June 19, for
eligible stakeholders.  The Plan is subject to confirmation by the
Bankruptcy Court.

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

                      About Chassix Holdings

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

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

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

Chassix Holdings estimated $500 million to $1 billion in assets and
debt.

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



CORD BLOOD: Establishes Compensation for Non-Management Directors
-----------------------------------------------------------------
After the election of three additional Directors to the Board of
Directors of Cord Blood America, Inc., effective April 15, 2015,
the Company's Board of Directors is now comprised of: David
Sandberg, Anthony Snow, Adrian Pertierra, Joseph Vicente (who is
also the Company's president), and Timothy McGrath.

On April 17, 2015, the Board established compensation for
non-management Directors of $5,000 per year, plus $1,000 per year
for the Chairman of the Nominating & Governance Committee
(currently Adrian Pertierra), $2,000 per year for the Chairman of
the Compensation Committee (currently Tim McGrath), $3,000 per year
for the Chairman of the Audit Committee (currently Anthony Snow),
and $4,000 per year for the Chairman of the Board (currently David
Sandberg).  David Sandberg, the Chairman of the Board, has informed
the Board that he will waive all board compensation for 2015 due to
him.  Joseph Vicente will receive no compensation for serving as a
Director.

                       About Cord Blood America

Based in Las Vegas, Nevada, Cord Blood America, Inc., is primarily
a holding company whose subsidiaries include Cord Partners, Inc.,
CorCell Co. Inc., CorCell Ltd.; CBA Professional Services, Inc.
D/B/A BodyCells, Inc.; CBA Properties, Inc.; and Career Channel
Inc, D/B/A Rainmakers International.  Cord specializes in
providing private cord blood stem cell preservation services to
families.  BodyCells is a developmental stage company and intends
to be in the business of collecting, processing and preserving
peripheral blood and adipose tissue stem cells allowing
individuals to privately preserve their stem cells for potential
future use in stem cell therapy.  Properties was formed to hold
the corporate trademarks and other intellectual property of CBAI.
Rain specializes in creating direct response television and radio
advertising campaigns, including media placement and commercial
production.

The Company has been the subject of a going concern opinion by its
independent auditors who have raised substantial doubt as to the
Company's ability to continue as a going concern.  De Joya
Griffith, LLC, in Henderson, NV, noted that the Company has
incurred losses from operations, which losses have caused an
accumulated deficit of approximately $53.46 million as of Dec. 31,
2014.

The Company disclosed net income of $240,000 on $4.33 million of
revenue for the year ended Dec. 31, 2014, compared to a net loss of
$2.97 million on $3.82 million of revenue for the year ended Dec.
31, 2013.  As of Dec. 31, 2014, the Company had $3.86 million in
total assets, $4.55 million in total liabilities, and a $691,000
total stockholders' deficit.


DANIEL SALOMONE: Bid to Disqualify Lebowitz Firm Denied
-------------------------------------------------------
The Supreme Court, New York County, on April 3, 2015, in the case
docketed as DANIEL SALOMONE, Plaintiff, v. STEVEN ABRAMSON, JODI
DENNIS, DIANE PLATEIS and CARMEN ARMOR, Defendants, 602866/2008,
denied Defendants' Steven Abramson and Diane Plateis' Motion to
Disqualify Plaintiff's Counsel, the Lebowitz Law Office (LLO), Marc
Lebowitz, Esq. (its sole member), and Keith Getz.

Justice Shirley Werner Kornreich held that while Lebowitz was a
necessary witness, the Movants had already waived their right to
seek his disqualification, as they waited 6 years after the case
was filed to ask for his disqualification. In so far as Getz was
concerned, Judge Kornreich found that the Movants had not made a
showing that Getz was a necessary witness.  She further held that
"the record is insufficient to disqualify the Rottenberg Firm on
the ground that its representation of Movants presents a conflict
of interest."

A copy of Judge Kornreich's April 3, 2015 Decision is available at
http://is.gd/NlYWo1from Leagle.com.  

The Lebowitz Law Office, LLC. -- marc@lebolaw.com -- represented
plaintiff Salomone.

Rottenberg Lipman Rich, P.C. represented defendants Abramson and
Plateis.

Daniel Salomone filed a Chapter 11 petition (Bankr. E.D.N.Y. Case
No. 12-71740) on March 22, 2012.


DAYBREAK OIL: Announces 18% Increase in Proved Oil Reserves
-----------------------------------------------------------
Daybreak Oil and Gas, Inc.'s fully-engineered proved oil reserves
increased by 18% to 888,136 Barrels of Oil Equivalent for the
fiscal year ended Feb. 28, 2015.  The Company's proved reserves at
Feb. 28, 2014, were 750,165 BOE.  

James F. Westmoreland, president and chief executive officer,
commented, "We are extremely pleased with our fiscal year-end
reserve results.  We not only replaced our production of 40,831
barrels of oil equivalent ("BOE") but increased our year-over-year
proved reserve base by 18%.  Our focus during the last fiscal year
was developing our oil reserves in Kentucky where we participated
in the drilling of eight successful oil wells, which was fueled in
part by a steady production base that we have built in
California."

Mr. Westmoreland continued, "We are entering our current fiscal
year carefully managing our Company in this existing low oil price
environment.  We do, however, plan to take advantage of the lower
service cost environment to drill several development wells in
Kentucky this summer.  In California, we have permits to drill a
number of development wells when the price of oil makes it more
economical and financially sensible to do so.  We will remain
flexible in our drilling schedule and have a number of projects in
both Kentucky and California that we can implement quickly when we
see a steady increase in the oil price.  In the meantime, we are
looking for any possible new opportunity to be brought about as an
effect of the current pricing environment."

                         About Daybreak Oil

Daybreak Oil and Gas, Inc., is an independent oil and natural gas
exploration, development and production company.  The Company is
headquartered in Spokane, Washington and has an operations office
in Friendswood, Texas.  The Company's common stock is quoted on
the OTC Bulletin Board market under the symbol DBRM.OB.  Daybreak
has over 20,000 acres under lease in the San Joaquin Valley of
California.

Daybreak Oil incurred a net loss available to common shareholders
of $1.54 million for the year ended Feb. 28, 2014, a net loss
available to common shareholders of $2.39 million for the year
ended Feb. 28, 2013, and a net loss available to common
shareholders of $1.59 million for the year ended Feb. 29, 2012.

MaloneBailey, LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Feb. 28, 2014.  The independent auditors noted that
Daybreak Oil and Gas, Inc. suffered losses from operations and has
negative operating cash flows, which raises substantial doubt
about its ability to continue as a going concern.

As of Nov. 30, 2014, the Company had $13.4 million in total assets,
$18.2 million in liabilities, and a $4.78 million stockholders'
deficit.


DEERFIELD RANCH: Ordered to Take Measures to Protect NSI Liens
--------------------------------------------------------------
U.S. Bankruptcy Judge Alan Jaroslovsky has ordered Deerfield Ranch
Winery LLC to take various measures to protect the liens asserted
by Nelson and Sons Inc. on agricultural products it supplies to the
company.

The court order requires the company to keep the agricultural
products supplied by Nelson and Sons "free of any senior liens,
including warehouse liens."

Deerfield is also required to either segregate the proceeds from
the sale of the products or pay Nelson and Sons from the proceeds,
with any such payments to be applied to the balance of the
supplier's secured claim.

A copy of the court order is available without charge at
http://is.gd/8VwkOZ

Deerfield in February had said it does not dispute that all of its
suppliers, including Nelson and Sons, are protected by the
California statutory producer's lien and that the company believes
that all growers should be treated fairly.  

"Nelson should be provided adequate protection that can reasonably
be provided to the other growers as well," the company had said in
a court filing.

                    About Deerfield Ranch Winery

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

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


Jigsaw Advisors LLC acts as the Debtor's restructuring financial
advisor.  Judge Alan Jaroslovsky is assigned to the case.

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


DJO GLOBAL: S&P Retains 'B-' CCR Over Term Loan Add-On
------------------------------------------------------
Standard & Poor's Ratings Services said that its issue-level
ratings on DJO Global Inc. are not affected by the company's plans
to increase the term loan borrowing by $30 million to $1.035
billion and to reduce the second-lien bond by the same $30 million
to $1.015 billion.

The corporate credit rating is 'B-' and the outlook is positive.
The rating reflects the company's solid competitive position and
growth prospects in the orthopedic device market while operating
with high leverage that S&P expects to remain above 9x over the
next two to three years.

RATINGS LIST

DJO Global Inc.
Corporate Credit Rating       B-/Positive/--

DJO Finance LLC
$1.035 bil Sr Secured
  term loan due 2020          B+
  Recovery rating             1

DJO Finance Corp.
DJO Finance LLC
$1.015 bil Sr Secured
  2nd priority notes due 2021 CCC+
  Recovery rating             5L



DORAL FINANCIAL: Bidding Procedures for Doral Insurance Sale OK'd
-----------------------------------------------------------------
The Hon. Shelley C. Chapman approved on April 9, 2015, Doral
Financial Corporation's proposed bidding procedures for the
sale of substantially all assets of Doral Insurance or the
membership interests.

A copy of the order is available for free at http://is.gd/eLKGYP

A copy of the motion, along with the Asset Purchase and Sale
Agreement, is available for free at http://is.gd/rNqFQr

As reported by the Troubled Company Reporter on April 13, 2015,
BankruptcyData reported that Anglo-Puerto Rican Insurance
Corporation, as stalking horse bidder, offered to buy Doral
Insurance's assets.  In light of the rapidly diminishing value of
the assets of Doral Insurance, the stalking horse agreement
contemplates an expedited auction sale process and provides certain
bid protections to the Staking Horse
Bidder . . . under the terms of the Stalking Horse Agreement, in
the event that the Stalking Horse Bidder is not designated as the
purchaser of the assets of Doral Insurance, the Stalking Horse
Bidder would be entitled to a fee of $250,000 (the 'Breakup Fee') ,
along with reimbursement of reasonable expenses, up to a cap of
$200,000 (the 'Expense Reimbursement')."

The deadline to submit qualified competing bids is May 6, 2015, and
an auction, if necessary, would be conducted on May 12, 2015, Bdata
related.  A hearing to approve the sale will be held on May 21,
2015, the report added.

Any counteroffer will provide for a purchase price with a minimum
cash or cash equivalent component payable at closing equal to the
sum of (i) $10,750,000, subject to the price adjustment, plus (ii)
$450,000, on account of the Breakup Fee and Expense Reimbursement,
plus (iii) $150,000.

                       About Doral Financial

Doral Financial Corporation is a holding company whose primary
operating asset was equity in Doral Bank.  DFC maintains offices in
New York City, Coral Gables, Florida and San Juan, Puerto Rico.  

DFC has three wholly-owned subsidiaries: (i) Doral Properties,
Inc., (ii) Doral Insurance Agency, LLC ("Doral Insurance"), and
(iii) Doral Recovery, Inc.

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

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

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

The Debtor tapped Ropes & Gray LLP as counsel.

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

The U.S. trustee overseeing the Chapter 11 case of Doral Financial
Corp. appointed five creditors of the company to serve on the
official committee of unsecured creditors.


DUNE ENERGY: Asks Court to Overrule DIP Financing Objections
------------------------------------------------------------
Dune Energy, Inc., et al., in response to certain objections, ask
the Bankruptcy Court to enter an order, in the form to be presented
by the parties, approving the Debtors to obtain DIP financing on a
final basis.

The Debtors worked with Deloitte Transactions and Business
Analytics LLP, as their financial advisor, to identify and contact
18 potential DIP lenders, but the Debtors did not receive any DIP
financing term sheets from third parties.  Due to the lack of any
offers from third parties for potential financing, the Debtors
engaged in negotiations with the prepetition first lien lenders for
DIP financing.  The negotiations resulted in the DIP financing
facility.  The DIP Facility presents the only viable mechanism for
providing the liquidity that the Debtors require to continue their
operations during the cases.

The Debtors said that, among other things:

   -- The Official Committee of Unsecured Creditors objection
should be overruled.  The Debtors have agreed that the Committee
will have standing to initiate a challenge to the liens of the
first-lien lenders.

   -- The second lien lenders' requests should be denied because
they are not entitled to the relief sought.  While the Debtors, the
agent to the first lien lenders, and the U.S. Trustee have agreed
to language to be included in the final DIP order regarding the
intercreditor agreement, the First Lien Agent and the Debtors have
not agreed to the second lien trustee's other requests.

   -- The Statutory Lienholders' interests are adequately
protected.  The Statutory Lienholders objected on the grounds that
their interests are not adequately protected.

   -- The Shoreline Southeast LLC response should be overruled.  In
the Interim DIP Order, the Debtors and the DIP Agent agreed to
include certain language to preserve the status quo among the
parties.



EMMAUS LIFE: Chairman Reports 37.7% Stake as of April 24
--------------------------------------------------------
Yutaka Niihara, M.D., MPH, disclosed in an amended Schedule 13D
filed with the Securities and Exchange Commission that as of April
24, 2015, he beneficially owns 11,177,274 shares of common stock of
Emmaus Life Sciences, Inc., which represents 37.7 percent of the
shares outstanding.

Soomi Niihara also reported beneficial ownership of 9,529,711
common shares as of that date.

Dr. Niihara has been elevated to the position of Chairman of the
Board of the Company effective May 1, 2015.  Dr. Niihara said he is
considering his options regarding possible plans and proposals that
relate to, or might result in, (a) changes in the present board of
directors of the Company and (b) changes in the Company's charter
or Bylaws.

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

                        http://is.gd/m5pHPy

                         About Emmaus Life

Emmaus Life Sciences, Inc., is engaged in the discovery,
development, and commercialization of treatments and therapies
primarily for rare and orphan diseases.  This biopharmaceutical
company's headquarters is in Torrance, California.

Emmaus Life reported a net loss of $20.8 million on $500,700 of net
revenues for the year ended Dec. 31, 2014, compared to a net loss
of $14.06 million on $391,000 of net revenues for the year ended
Dec. 31, 2013.  As of Dec. 31, 2014, the Company had $2.66 million
in total assets, $23 million in total liabilities and a $20.3
million total stockholders' deficit.

KPMG LLP, in San Diego, California, issued a "going Concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014.  The independent auditors noted that
the Company has suffered recurring losses from operations, has
significant amounts of debt due within a year, and has a net
capital deficiency that raise substantial doubt about its ability
to continue as a going concern.


ENERGY & EXPLORATION: Bank Debt Trades at 14% Off
-------------------------------------------------
Participations in a syndicated loan under which Energy &
Exploration Partners is a borrower traded in the secondary market
at 86.17 cents-on-the-dollar during the week ended Friday, April
24, 2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 2.67 percentage points from the previous week, The
Journal relates.  Energy &  Exploration pays 675 basis points above
LIBOR to borrow under the facility.  The bank loan matures on Jan.
14, 2019.  Moody's and Standard & Poor's did not give a rating to
the loan.  The loan is one of the biggest gainers and losers among
243 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.



ENERGY FUTURE: Delaware Trust Wants Trial of Lifting Stay Deferred
------------------------------------------------------------------
Philip D. Anker, Esq., at Wilmer Cutler Pickering Hale and Dorr
LLP, the counsel to Delaware Trust Company, indenture trustee for
the first lien notes issued by Energy Future Intermediate Holding
Company LLC and EFIH Finance, Inc., and to holders of the notes,
asks in a letter to the Hon. Christopher S. Sontchi of the U.S.
Bankruptcy Court for District of Delaware dated April 13, 2015,
that the trial of the lift-stay issue be deferred for a relatively
brief period.  A copy of the letter is available for free at:

                       http://is.gd/uvrbIY

According to Mr. Anker, the trial should be delayed so that it can
be a single hearing based on the actual facts regarding EFIH's
financial condition.  Mr. Anker claims that Andrew McGaan, Esq., at
Kirkland & Ellis, LLP, the attorney for Energy Future Intermediate
Holdings, LLC, and EFIH Finance, Inc., acknowledged that EFIH
intends to present evidence addressing the effect of modifying the
automatic stay on "the Debtor and the Debtor's constituents in the
reorganization process."  Because
EFIH is presumed to be solvent and able to pay all of its creditors
in full in any event, EFIH apparently intends to focus on the
supposed effect of lifting the stay on other
debtors and their creditors (and shareholders), Mr. Anker states.


The Trustee and Noteholders do not believe that the effect of their
contract right on  the estates of other, non-substantively
consolidated debtors is legally relevant, but EFIH evidently
intends to make that supposed effect the centerpiece of its case,
Anker claims.  To respond, the Trustee and Noteholders need
discovery on the extent of EFIH's solvency.  The discovery, says
Mr. Anker, "cannot take place in time to permit the trial to occur
next week."  

Mr. Anker says that it would be fundamentally unfair to allow EFIH
to present the evidence it intends to offer -- that Oncor's value
needs to be used to satisfy claims against or interests in other
debtors -- without giving the Trustee and the Noteholders the
opportunity to develop a record that, in fact, EFIH is solvent by
hundreds of millions or even billions of dollars and that other
junior constituencies -- including EFIH's equity owner, EFH, and
the sponsors -- are likely to obtain massive distributions on
account of EFIH's interest in Oncor, on which the Trustee has a
first-priority, oversecured lien.

Mr. Anker denies Mr. McGaan's assertion that the Noteholders and
the TRustee have already had the opportunity to take the discovery.
According to Mr. Anker, it was EFIH -- in response to the
Trustee's efforst to obtain discovery on EFIH's financial condition
-- that proposed the bifurcation in the first place.

According to Mr. Anker, a trial on stay-relief, which likely could
be held in late May or June, would also allow for manageable
discovery and trial time, and that it is unlikely that there would
need to be a full valuation trial because there will be (i) actual
bids for Oncor and (ii) very likely a filed plan and disclosure
statement.

                       About Energy Future

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

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

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

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

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

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

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

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

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


EVANS & SUTHERLAND: Settles with PBGC for $10.5 Million
-------------------------------------------------------
Evans & Sutherland Computer Corporation and its wholly owned
subsidiary Spitz, Inc., entered into a settlement agreement with
the Pension Benefit Guaranty Corporation to settle previously
disclosed liabilities of the Obligors under the Employee Retirement
Income Security Act of 1974, as amended, and all other liabilities
of the Obligors relating to the Evans & Sutherland Computer
Corporation Pension Plan.

Pursuant to the Settlement Agreement, the Obligors agreed to (a)
pay to the PBGC a total of $10.5 million, with $1.5 million due
within ten days following the effective date of the Settlement
Agreement and the remainder paid in 12 annual installments of
$750,000 beginning on Oct. 31, 2015, and (b) issue within 10 days
following the effective date of the Settlement Agreement 88,117
shares of the Company's treasury stock in the name of the PBGC.

In connection with the Settlement Agreement, on April 21, 2015, the
Company, as the administrator of the Plan, and the PBGC entered
into an Agreement For Appointment of Trustee and Termination of
Plan (a) terminating the Plan, (b) establishing March 8, 2013, as
the Plan's termination date and (c) appointing the PBGC as
statutory trustee of the Plan.

To secure the Obligors obligations under the Settlement Agreement,
on April 21, 2015, the Obligors entered into a Security Agreement
with the PBGC granting to the PBGC a security interest on all of
the Obligors' presently owned and after-acquired personal property
and proceeds thereof, free and clear of all liens and other
encumbrances, and Spitz executed an Open-End Mortgage, Security
Agreement, Assignment of Leases and Rents and Fixture Filing in
favor of the PBGC on certain real property owned by Spitz.  The
Settlement Agreement also requires that the PBGC withdraw all lien
notices with respect to the statutory liens it previously perfected
on behalf of the Plan with respect to all real and personal
property of the Obligors as soon as reasonably practicable after
the 91st day after the perfection of all consensual liens granted
to the PBGC by the Security Agreement and Mortgage.

The Settlement Agreement further provides that on the 91st day
after the full payment of all Installments, the PBGC will be deemed
to have released the Obligors from the Settled ERISA Liabilities
and that the PBGC will not take any action to enforce the Settled
ERISA Liabilities for so long as the Obligors are not in default in
their obligations under the Settlement Agreement, the Security
Agreement or the Mortgage.

                     About Evans & Sutherland

Salt Lake City, Utah-based Evans & Sutherland Computer Corporation
in conjunction with its wholly owned subsidiary, Spitz Inc.,
creates innovative digital planetarium systems and cutting-edge,
fulldome show content.  E&S has developed Digistar 5, the world's
leading digital planetarium with fulldome video playback, real-
time computer graphics, and a complete 3D digital astronomy
package fully integrated into a single theater system.  This
technology allows audiences to be immersed in full-color, 3D
computer-generated interactive worlds.  As a full-service system
provider, E&S also offers Spitz domes, hybrid planetarium systems
integrated with Digistar and a full range of theater systems from
audio and lighting to theater automation.  E&S markets include
planetariums, science centers, themed attraction venues, and
premium large-format theaters.  E&S products have been installed
in over 1,300 theaters worldwide.

Evans & Sutherland reported a net loss of $1.30 million on $26.5
million of sales for the year ended Dec. 31, 2014, compared with
net income of $1.17 million on $29.6 million of sales for the same
period in 2013.  As of Dec. 31, 2014, the Company had $25.5 million
in total assets, $56.2 million in total liabilities, and a $30.7
million total stockholders' deficit.


EVERYWARE GLOBAL: Court Issues Joint Administration Order
---------------------------------------------------------
Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware signed an order directing joint
administration of the Chapter 11 cases of EveryWare Global, Inc.,
and its debtor affiliates, under lead case no. 15-10743.

                    About EveryWare Global

Headquartered in Lancaster, Ohio, EveryWare (Nasdaq:EVRY) is a
marketer of tabletop and food preparation products for the
consumer
and foodservice markets, with operations in the United States,
Canada, Mexico and Asia.  The company has more than 1,500
personnel
throughout the United States.  Sales and marketing functions are
managed from executive offices in Lancaster, Ohio, with staff
located in Melville, New York, New York City, and Oneida, New
York.

The primary operating subsidiaries, Oneida Ltd. and Anchor
Hocking,
LLC, were founded in 1848 and 1873, respectively.  In 2011,
investment funds affiliated with the Monomoy Capital Partners
completed their acquisition of these companies and, in March 2012,
integrated them under the EveryWare brand.  In May 2013, a merger
was completed where EveryWare became a wholly-owned subsidiary of
ROI Acquisition Corp. ("ROI"), a special purpose acquisition
company sponsored by affiliates of the Clinton Group, Inc., and
ROI
was renamed EveryWare Global Inc.

As of Sept. 30, 2014, EveryWare reported assets of $238 million
and
liabilities of $380 million.

EveryWare Global, Inc., commenced a Chapter 11 bankruptcy case to
implement a prepackaged financial restructuring that converts $248
million of the long-term debt to 96% of the common stock of the
company post-emergence.

EveryWare Global filed its Chapter 11 petition (Bankr. D. Del.) on
April 7, 2015, and 12 affiliated debtors filed petitions on April
8, 2015.  The cases are pending before Judge Laurie Selber
Silverstein, and the debtors are seeking joint administration
under
Case No. 15-10743.

The Debtors tapped Kirkland & Ellis LLP, as general bankruptcy
counsel; Pachulski Stang Ziehl & Jones LLP, as local bankruptcy
counsel; Jefferies LLC, as financial advisor; Alvarez & Marsal
North America, LLC, to provide a CRO and Interim VP of Finance;
and
Prime Clerk LLC as claims and noticing agent.

                         *     *     *

Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware will convene a combined hearing on the
adequacy of EveryWare Global, Inc., et al.'s Disclosure Statement
and confirmation of the joint prepackaged Chapter 11 plan of
reorganization on May 20, 2015, at 2:00 p.m., prevailing Eastern
Time.  Any objections to the Disclosure Statement or confirmation
of the Plan must be filed by May 8 and any replies to the
objections must be filed by May 13.


EVERYWARE GLOBAL: Has Interim OK to Tap DIP Loan, Use Cash
----------------------------------------------------------
EveryWare Global, Inc., et al., sought and obtained interim
authority from the U.S. Bankruptcy Court for the District of
Delaware to obtain postpetition financing to ensure that ongoing
business operations -- and overall enterprise value -- can be
preserved and continue without disruption.

The DIP Financing consists of (i) a $40 million new money term loan
provided by certain lenders party to the Prepetition Term Loan
Agreement, and (ii) continued access to up to $60 million of
revolving loans and letters of credit provided by lenders party to
the Prepetition ABL Credit Agreement.

Eurodollar Rate Loans under the DIP Term Facility bear interest at
a fluctuating rate amount thereof for each Interest Period at a
rate per annum equal to the Eurodollar Rate for the Interest Period
plus 9.00%.  Base Rate Loans under the DIP Term Facility bear
interest on the the outstanding principal amount thereof from the
applicable borrowing date at a rate per annum equal to the Base
Rate plus 8.00%.  The default interest rate under the DIP Term
Facility is applicable rate plus 2.00% per annum.

The Base Rate Revolving Loans will bear interest at a fluctuating
rate per annum equal to the Base Rate plus 2.00%.  LIBO Rate
Revolving Loans will bear interest at a rate per annum equal to the
LIBO Rate plus 3.00%.  Default interest rate under the DIP ABL
Facility is applicable rate plus 2.00% per annum.

The Debtors also sought and obtained interim authority to use cash
collateral securing their prepetition indebtedness.  As of the
Petition Date, the Prepetition Term Loan Obligations for which the
Debtors were indebted to aggregated not less than approximately
$24,550,836, plus accrued but unpaid interest and other unpaid fees
and charges.  As of the Petition Date, the Prepetition ABL
Obligations for which the Debtors were indebted to aggregated not
less than approximately $43,355,608.

The final hearing is scheduled for April 28, 2015, at 2:00 p.m.
(prevailing Eastern Time).

                    About EveryWare Global

Headquartered in Lancaster, Ohio, EveryWare (Nasdaq:EVRY) is a
marketer of tabletop and food preparation products for the
consumer
and foodservice markets, with operations in the United States,
Canada, Mexico and Asia.  The company has more than 1,500
personnel
throughout the United States.  Sales and marketing functions are
managed from executive offices in Lancaster, Ohio, with staff
located in Melville, New York, New York City, and Oneida, New
York.

The primary operating subsidiaries, Oneida Ltd. and Anchor
Hocking,
LLC, were founded in 1848 and 1873, respectively.  In 2011,
investment funds affiliated with the Monomoy Capital Partners
completed their acquisition of these companies and, in March 2012,
integrated them under the EveryWare brand.  In May 2013, a merger
was completed where EveryWare became a wholly-owned subsidiary of
ROI Acquisition Corp. ("ROI"), a special purpose acquisition
company sponsored by affiliates of the Clinton Group, Inc., and
ROI
was renamed EveryWare Global Inc.

As of Sept. 30, 2014, EveryWare reported assets of $238 million
and
liabilities of $380 million.

EveryWare Global, Inc., commenced a Chapter 11 bankruptcy case to
implement a prepackaged financial restructuring that converts $248
million of the long-term debt to 96% of the common stock of the
company post-emergence.

EveryWare Global filed its Chapter 11 petition (Bankr. D. Del.) on
April 7, 2015, and 12 affiliated debtors filed petitions on April
8, 2015.  The cases are pending before Judge Laurie Selber
Silverstein, and the debtors are seeking joint administration
under
Case No. 15-10743.

The Debtors tapped Kirkland & Ellis LLP, as general bankruptcy
counsel; Pachulski Stang Ziehl & Jones LLP, as local bankruptcy
counsel; Jefferies LLC, as financial advisor; Alvarez & Marsal
North America, LLC, to provide a CRO and Interim VP of Finance;
and
Prime Clerk LLC as claims and noticing agent.

                         *     *     *

Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware will convene a combined hearing on the
adequacy of EveryWare Global, Inc., et al.'s Disclosure Statement
and confirmation of the joint prepackaged Chapter 11 plan of
reorganization on May 20, 2015, at 2:00 p.m., prevailing Eastern
Time.  Any objections to the Disclosure Statement or confirmation
of the Plan must be filed by May 8 and any replies to the
objections must be filed by May 13.


EVERYWARE GLOBAL: Has Until June 6 to File Schedules
----------------------------------------------------
Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware gave EveryWare Global, Inc., et al., until
June 6, 2015, to file their schedules of assets and liabilities and
statements of financial affairs.

Judge Silverstein stated that the requirement that the Debtors file
their Schedules and Statements is permanently waived effective upon
the date of confirmation of the Plan, provided confirmation occurs
on or before June 6.

                    About EveryWare Global

Headquartered in Lancaster, Ohio, EveryWare (Nasdaq:EVRY) is a
marketer of tabletop and food preparation products for the
consumer
and foodservice markets, with operations in the United States,
Canada, Mexico and Asia.  The company has more than 1,500
personnel
throughout the United States.  Sales and marketing functions are
managed from executive offices in Lancaster, Ohio, with staff
located in Melville, New York, New York City, and Oneida, New
York.

The primary operating subsidiaries, Oneida Ltd. and Anchor
Hocking,
LLC, were founded in 1848 and 1873, respectively.  In 2011,
investment funds affiliated with the Monomoy Capital Partners
completed their acquisition of these companies and, in March 2012,
integrated them under the EveryWare brand.  In May 2013, a merger
was completed where EveryWare became a wholly-owned subsidiary of
ROI Acquisition Corp. ("ROI"), a special purpose acquisition
company sponsored by affiliates of the Clinton Group, Inc., and
ROI
was renamed EveryWare Global Inc.

As of Sept. 30, 2014, EveryWare reported assets of $238 million
and
liabilities of $380 million.

EveryWare Global, Inc., commenced a Chapter 11 bankruptcy case to
implement a prepackaged financial restructuring that converts $248
million of the long-term debt to 96% of the common stock of the
company post-emergence.

EveryWare Global filed its Chapter 11 petition (Bankr. D. Del.) on
April 7, 2015, and 12 affiliated debtors filed petitions on April
8, 2015.  The cases are pending before Judge Laurie Selber
Silverstein, and the debtors are seeking joint administration
under
Case No. 15-10743.

The Debtors tapped Kirkland & Ellis LLP, as general bankruptcy
counsel; Pachulski Stang Ziehl & Jones LLP, as local bankruptcy
counsel; Jefferies LLC, as financial advisor; Alvarez & Marsal
North America, LLC, to provide a CRO and Interim VP of Finance;
and
Prime Clerk LLC as claims and noticing agent.

                         *     *     *

Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware will convene a combined hearing on the
adequacy of EveryWare Global, Inc., et al.'s Disclosure Statement
and confirmation of the joint prepackaged Chapter 11 plan of
reorganization on May 20, 2015, at 2:00 p.m., prevailing Eastern
Time.  Any objections to the Disclosure Statement or confirmation
of the Plan must be filed by May 8 and any replies to the
objections must be filed by May 13.


EXIDE TECHNOLOGIES: PwC OK'd to Provide Loaned Staff Until May 31
-----------------------------------------------------------------
Exide Technologies sought and obtained approval for
PricewaterhouseCoopers LLP's loan staffed services to include the
preparation of its financial statement tax accrual and other
international tax matters dated March 3, 2015.  

Specifically, PwC will:

  -- provide personnel to the Debtor to assist the Debtor in
     gathering data and preparing schedules and computations
     necessary to determine account balances relating to the
     Debtor's financial statement tax accrual and other
     international tax matters;

  -- provide loaned staff to assist the Debtor in gathering data
     and preparing schedules and computations necessary to        

     
     determine these account balances;

  -- provide loaned staff to the Debtor for approximately 20 hours
     per week from March 2, 2015 to May 31, 2015 and thereafter   

     as mutually agreed upon by PwC and the Debtor.

According to the Debtor, the loaned staff services will not
duplicate the services that other professionals will be providing
to the Debtor in the Chapter 11 Case.

PwC will charge the following hourly fees for the loaned staff
services:

     Designations         Hourly Rate
     ------------         -----------
     Director             $450
     Manager              $355
     Senior Associate     $260
     Associate            $185

In addition, the Debtor has agreed to reimburse PwC for reasonable
out-of- pocket expenses and internal per ticket charges for booking
travel required in connection with the loaned staff services.
Pursuant to the loaned staff engagement letter, the Debtor has also
agreed to reimburse PwC for sales, use or value added tax, if
applicable, which will be included in the invoices for services or
at a later date if it is determined that such taxes should have
been collected.

Stephen J. Burke, partner of PricewaterhouseCoopers, assures the
Court that the firm is a "disinterested person" within the meaning
of Section 101(14) of the Bankruptcy Code.

                    About Exide Technologies

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

Exide first sought Chapter 11 protection (Bankr. Del. Case No.
02-11125) on April 14, 2002, and exited bankruptcy two years
after.

Matthew N. Kleiman, Esq., and Kirk A. Kennedy, Esq., at Kirkland &
Ellis, and James E. O'Neill, Esq., at Pachulski Stang Ziehl &
Jones
LLP represented the Debtors in their successful restructuring.

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

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

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

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

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

                            *     *     *

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

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

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



FASTLANE HOLDING: S&P Lowers CCR to 'CCC+', Outlook Stable
----------------------------------------------------------
Standard & Poor's Ratings Services said that it has lowered its
corporate credit rating on Dallas-based Fastlane Holding Co. Inc.
to 'CCC+' from 'B-'.  The outlook is stable.

At the same time, S&P lowered its issue-level rating on the
company's senior secured first-lien term loan to 'CCC+' from 'B-'.
S&P's '4' recovery rating on the debt remains unchanged, indicating
S&P's expectation for average recovery (30%-50%; lower end of the
range) in the event of payment default.  S&P also lowered its
issue-level rating on Fastlane's senior secured second-lien term
loan to 'CCC-' from 'CCC'.  S&P's '6' recovery rating on the debt
remains unchanged, indicating its expectation for negligible
recovery (0%-10%) in a payment default scenario.

"The downgrade reflects that, although Fastlane Holding Co. Inc.'s
near-term liquidity is adequate, we believe that the company's
long-term financial commitments are unsustainable," said Standard &
Poor's credit analyst Noel Mangan.  "The company is dependent on
favorable business, financial, and economic conditions to refinance
its revolver in 2017."

The rating on Fastlane reflects S&P's assessment of the company's
financial risk profile.  The debt financing from private equity
firm TPG Capital L.P.'s (TPG) acquisition of Fastlane, along with
the company's lower-than-expected profitability since 2013, has
caused the company's credit metrics to fall outside of S&P's
previous expectations.  The company has invested heavily in its
business since TPG became the controlling sponsor, including
building-up its inventory to increase the availability of its
highest turning items, investing in information technology to
improve productivity, and standardizing best practices across the
organization.  These operational initiatives have also resulted in
substantial cash outflows in the form of restructuring charges over
the past two years.  Moreover, additional use of the company's
revolving credit facility in 2014 has caused the company's
debt-to-EBITDA metric to remain around 10x, and S&P believes that
it will remain elevated for the next 12 months.

The outlook is stable.  S&P expects the demand for Fastlane's truck
parts to move in line with U.S. economic activity.  The company's
credit ratios should improve somewhat in 2015 as its profitability
improves, however, the ratios will remain very weak and it is
questionable whether these improvements are sustainable. In
addition, even with this improvement, Fastlane's long-term
financial commitments appear to be unsustainable due to its high
debt leverage, substantially higher than 5x on a sustained basis,
and continued free operating cash outflows.

S&P could lower its rating on the company if S&P believes that it
could default within 12 months due to a near-term liquidity crisis,
a violation of the springing fixed-charge coverage ratio covenant
on its revolver, or if S&P believes that it is considering a
distressed exchange offer or redemption.

S&P could raise the rating if leverage decreases toward 5x on a
sustained basis and the company starts to generate positive free
cash flow.  Stronger-than-expected U.S. economic growth could
contribute to more miles driven and, therefore, more robust demand
for heavy-duty truck parts.  Moreover, the completion of
restructuring actions and the slower pace of acquisitions could
mean that the company would be less likely to use its revolving
credit facility to fund such activities, and therefore would reduce
its leverage in the future.



FORTESCUE METALS: Bank Debt Trades at 11% Off
---------------------------------------------
Participations in a syndicated loan under which Fortescue Metals
Group Ltd is a borrower traded in the secondary market at 89.55
cents-on-the-dollar during the week ended Friday, April 24, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 3.05 percentage points from the previous week, The Journal
relates.  The Company pays 325 basis points above LIBOR to borrow
under the facility.  The bank loan matures on June 13, 2019, and
carries Moody's Baa3 rating and Standard & Poor's BBB rating.  The
loan is one of the biggest gainers and losers among widely quoted
syndicated loans in secondary trading in the week ended Friday
among the 243 loans with five or more bids. All loans listed are
B-term, or sold to institutional investors.



FOUNDATION HEALTHCARE: Adopts 2015 Bonus Incentive Plan
-------------------------------------------------------
Foundation HealthCare announced the following updates:

operational Update:

   * On April 10, 2015, Foundation HealthCare and Houston
     Orthopedic and Spine Hospital sold its assets to Memorial
     Hermann Health System.

   * The Company's strong financial performance in the third and
     fourth quarters of 2014 resulted in a 0.5% reduction in the
     Company's interest rate.  Foundation HealthCare's senior debt

     loan interest rate was decreased from 4.4% to 3.9% effective
     Feb. 12, 2015.

   * The governing board of Foundation Surgical Hospital of San
     Antonio, a majority-owned hospital, has approved its
     expansion plans.  The expansion is expected to be completed
     in early 2016.  As a result of the increased capacity, the
     Company expects to generate an additional 720 to 1,200
     surgical cases annually.

"As stated before, our strategy is to own controlling interests in
the hospitals we manage.  The Houston Orthopedic and Spine Hospital
did not fit our long-term strategy and other than a one-time gain
on the sale will have no impact to our bottom line in 2015.  As we
move forward in 2015, we will continue to evaluate options for the
balance of our equity-owned assets," said Stanton Nelson, CEO of
Foundation HealthCare.

"Foundation ended 2014 on a very positive note with the continued
financial improvement in our hospital in El Paso.  In addition, the
announcement of the future expansion at our hospital in San Antonio
allows us to accommodate the demand from our current and new
physician partners while remaining focused on providing
high-quality clinical care for the patients we serve," said
Nelson.

                     2015 Bonus Incentive Plan

On April 21, 2015, the Compensation Committee of the Board of
Directors of Foundation Healthcare adopted, pursuant to the
Company's 2008 Long-Term Incentive Plan, the 2015 Bonus Incentive
Plan for Executive Officers.  The 2015 Bonus Plan sets
performance-oriented incentive awards to motivate the Company's
executive officers.  Under the 2015 Bonus Plan, the Company's
executive officers are eligible to receive a bonus based on the
achievement of certain financial and other objectives during fiscal
year 2015.  Those bonuses may be paid in cash, shares of the
Company's common stock or a combination of both, as determined by
the Compensation Committee.  The executive officers eligible for
participation in the 2015 Bonus Plan are (A) Chairman of the Board,
(B) Office of the Chairman, and (C) Chief Executive Officer.  The
Compensation Committee may add additional executive officers as
Participants.

The Compensation Committee set the following objectives under the
2015 Bonus Plan:

   (1) achieve 2015 EBITDA equal to or greater than the EBITDA
       Target;

   (2) stock price appreciation in 2015 (comparing stock price on
       Dec. 31, 2015, vs. Dec. 31, 2014);

   (3) both (i) complete one acquisition, joint venture or other
       business development transaction, and (ii) stock price
       appreciation (comparing stock price on Dec. 31, 2015, vs.
       Dec. 31, 2014);

   (4) average overall patient satisfaction for 2015 equals or
       exceeds 95% for our hospitals, ambulatory surgery centers
       and other healthcare facilities, as consistently determined

       and as presented in periodic clinical updates to the Board;
       and

  (5) achieve 2015 EBITDA greater than EBITDA Target.

A copy of the Foundation Healthcare, Inc. 2015 Bonus Incentive Plan
for Executive Officers is available for free at:

                        http://is.gd/YvO19T

                    About Foundation Healthcare

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

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

Foundation Healthcare reported a net loss attributable to the
Company common stock of $2.09 million on $101.85 million of
revenues for the year ended Dec. 31, 2014, compared to a net loss
attributable to the Company common stock of $20.4 million on $87.2
million of revenues in 2013.

As of Dec. 31, 2014, the Company had $59.5 million in total assets,
$66.9 million in total liabilities, $8.7 million in preferred
noncontrolling interests, and a $16.1 million total deficit.

Hein & Associates LLP, in Denver, Colorado, issued a "going
concern" opinion in its report on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company had insufficient working capital as of Dec. 31, 2014 to
fund anticipated working capital needs over the next twelve months.


FRAC TECH: Bank Debt Trades at 19% Off
--------------------------------------
Participations in a syndicated loan under which Frac Tech Services
Ltd is a borrower traded in the secondary market at 80.80
cents-on-the-dollar during the week ended Friday, April 24, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 3.38 percentage points from the previous week, The Journal
relates.  Frac Tech pays 475 basis points above LIBOR to borrow
under the facility.  The bank loan matures on April 3, 2021, and
carries Moody's B2 rating and Standard & Poor's B rating.  The loan
is one of the biggest gainers and losers among 243 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



FREDERICK'S OF HOLLYWOOD: April 28 Meeting Set to Form Panel
------------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, will hold an
organizational meeting on April 28, 2015, at 1:30 p.m., in the
bankruptcy case of Frederick's of Hollywood, Inc., et al.

The meeting will be held at:

         J. Caleb Boggs Federal Building
         844 King St., Room 5209
         Wilmington, DE 19801

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.  Section 1103 of the
Bankruptcy Code provides that the Committee may consult with the
debtor, investigate the debtor and its business operations and
participate in the formulation of a plan of reorganization.  The
Committee may also perform other services as are in the interests
of the unsecured creditors whom it represents.

                      About Frederick's

Frederick's of Hollywood Group Inc., sells women's apparel and
related products under its proprietary Frederick's of Hollywood
brand.  Frederick's had more than 200 brick-and-mortar stores at
its peak. At present it sells its products at its online shop at
http://www.fredericks.com/

On April 19, 2015, Frederick's of Hollywood and five affiliates
each filed voluntary petitions for relief under Chapter 11 of the
United States Bankruptcy Code.  The cases are pending approval to
be jointly administered under Case No. 15-10836 before the
Honorable Kevin Gross (Bankr. D. Del.).

The Company disclosed $36.5 million in assets and $106 million in
debt as of the bankruptcy filing.  The material debt obligations
principally consist of $33 million in loans under a secured credit
agreement, $16.2 million in unsecured promissory notes, and $56.7
million in trade debt and liabilities to landlords.

The Debtors tapped Milbank, Tweed, Hadley & McCloy LLP, as
bankruptcy counsel; Richards, Layton & Finger, P.A., as local
counsel; Consensus Advisory Services LLC as investment banker and
financial advisor; and Kurtzman Carson Consultants LLC, as claims
and noticing agent.



FREESEAS INC: Closes $500,000 Financing with Alderbrook Ship
------------------------------------------------------------
FreeSeas Inc. has entered into a securities purchase agreement with
Alderbrook Ship Finance Ltd., pursuant to which the Company sold a
$500,000 principal amount convertible note to the Investor for
gross proceeds of $500,000.

The Note will mature on the one year anniversary of the Closing
Date and will bear interest at the rate of 8% per annum, which will
be payable on the maturity date or any redemption date and may be
paid, in certain conditions, through the issuance of shares, at the
discretion of the Company.

The Note will be convertible into shares of the Company's common
stock, par value $0.001 per share at a conversion price equal to
the lesser of (i) $0.24 and (ii) 60% of the lowest volume weighted
average price of the Common Stock during the 21 trading days prior
to the conversion date.

If an event of default under the Notes occurs, upon the request of
the holder of the Note, the Company will be required to redeem all
or any portion of the Note (including all accrued and unpaid
interest), in cash, at a price equal to the greater of (i) up to
127.5% of the amount being converted, depending on the nature of
the default, and (ii) the product of (a) the number of shares of
Common Stock issuable upon conversion of the Note, times (b) 127.5%
of the highest closing sale price of the Common Stock during the
period beginning on the date immediately preceding such event of
default and ending on the trading day that the redemption price is
paid by the Company.

The Company has the right, at any time, to redeem all, but not less
than all, of the outstanding Note, upon not less than 30 days nor
more than 90 days prior written notice.  The redemption price shall
equal 127.5% of the amount of principal and interest being
redeemed.

The convertibility of the Note may be limited if, upon conversion
or exercise (as the case may be), the holder thereof or any of its
affiliates would beneficially own more than 4.99% of the Common
Stock.

In addition, the Company reimbursed the Investor for all costs and
expenses incurred by it or its affiliates in connection with the
transactions contemplated by the transaction documents in a
non-accountable amount equal to $15,000.

                        About FreeSeas Inc.

Headquartered in Athens, Greece, FreeSeas Inc., formerly known as
Adventure Holdings S.A., was incorporated in the Marshall Islands
on April 23, 2004, for the purpose of being the ultimate holding
company of ship-owning companies.  The management of FreeSeas'
vessels is performed by Free Bulkers S.A., a Marshall Islands
company that is controlled by Ion G. Varouxakis, the Company's
Chairman, President and CEO, and one of the Company's principal
shareholders.

The Company's fleet consists of six Handysize vessels and one
Handymax vessel that carry a variety of drybulk commodities,
including iron ore, grain and coal, which are referred to as
"major bulks," as well as bauxite, phosphate, fertilizers, steel
products, cement, sugar and rice, or "minor bulks."  As of
Oct. 12, 2012, the aggregate dwt of the Company's operational
fleet is approximately 197,200 dwt and the average age of its
fleet is 15 years.

FreeSeas Inc. reported a net loss of US$48.7 million in 2013, a
net loss of US$30.88 million in 2012 and a net loss of US$88.2
million in 2011.  The Company's balance sheet at March 31, 2014,
showed US$79.8 million in total assets, US$77.4 million in total
liabilities, all current, and US$2.37 million in total
shareholders' equity.

RBSM LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2013.  The independent auditors noted that the Company has
incurred recurring operating losses and has a working capital
deficiency.  In addition, the Company has failed to meet
scheduled payment obligations under its loan facilities and has
not complied with certain covenants included in its loan
agreements.  Furthermore, the vast majority of the Company's
assets are considered to be highly illiquid and if the Company
were forced to liquidate, the amount realized by the Company
could be substantially lower that the carrying value of these
assets.  These conditions among others raise substantial doubt
about the Company's ability to continue as a going concern.


GETTY IMAGES: Bank Debt Trades at 13% Off
-----------------------------------------
Participations in a syndicated loan under which Getty Images Inc.
is a borrower traded in the secondary market at 86.85
cents-on-the-dollar during the week ended Friday, April 24, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
0.70 percentage points from the previous week, The Journal relates.
The Company pays 350 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Oct. 14, 2019, and carries
Moody's B2 rating and Standard & Poor's B rating.  The loan is one
of the biggest gainers and losers among widely-quoted syndicated
loans in secondary trading in the week ended Friday among the 243
loans with five or more bids. All loans listed are B-term, or sold
to institutional investors.


GOLD'S GYM OF SPRINGFIELD: Court Okays $1.78M Sale to Nas'Anno
--------------------------------------------------------------
Gold's Gym of Springfield, Inc.'s president, Maureen Suhadolnik,
said that the Company has been sold to an out-of-state investment
group, Wics.com reports.

Tim Landis at The State Journal-Register relates that the Hon. Mary
P. Gorman of the U.S. Bankruptcy Court for the Central District of
Illinois approved the $1.78 million sale of the facility to
Nas'Anno Corp.  According to court documents, the sale includes the
building, equipment, membership lists, and all "personal and
intellectual property."  

The Company will remain in operation under new owners, The
Journal-Register states.  The Company said that memberships are not
affected by the sale, and all current employees will remain, the
report adds.

Headquartered in Springfield, Illinois, Gold's Gym of Springfield,
Inc. -- http://www.goldsgym.com/-- filed for Chapter 11 bankruptcy
protection (Bankr. C.D. Ill. Case No. 14-70556) on March 28, 2014,
estimating its assets at up to $50,000 and its liabilities at
between $1 million and $10 million.  The petition was signed by
Maureen Suhadolnik, the Company's president who opened the local
franchise at 1600 Clear Lake Avenue in 2005.

Judge Mary P. Gorman presides over the case.

R Stephen Scott, Esq., at Scott & Scott, P.C., serves as the
Company's bankruptcy counsel.


GREENSHIFT CORP: Minority Interest Reports 9.9% Stake as April 21
-----------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Minority Interest Fund (II), LLC and Lawrence Kreisler
disclosed that as of April 21, 2015, they beneficially own
187,276,157 shares of common stock of Greenshift Corporation which
represents 9.9 percent of the shares outstanding.  A copy of the
regulatory filing is available at http://is.gd/6V3oeo

                   About Greenshift Corporation

Headquartered in New York, GreenShift Corporation develops and
commercializes clean technologies designed to integrate into and
leverage established production and distribution infrastructure to
address the financial and environmental needs of its clients by
decreasing raw material needs, facilitating co-product reuse, and
reducing waste and emissions.

Greenshift reported net income of $1.97 million on $12.8 million of
total revenue for the year ended Dec. 31, 2014, compared to a net
loss of $4.43 million on $15.5 million of total revenue for the
year ended Dec. 31, 2013.  As of Dec. 31, 2014, Greenshift had
$2.08 million in total assets, $41.8 million in total liabilities
and a $39.7 million total stockholders' deficit.

Rosenberg Rich Baker Berman & Company, in Somerset, NJ, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2014.  The accounting firm
noted that the Company had $587,000 in cash, and current
liabilities exceeded current assets by $39.0 million as of
Dec. 31, 2014.  In addition, the Company is in default of certain
debentures for which it is negotiating a modification and extension
with the creditors, and, a court issued partial summary judgment
that the Company's corn oil extraction patents are invalid.  These
conditions raise substantial doubt about its ability to continue as
a going concern, the auditors said.


GRIDWAY ENERGY: Judge Extends Deadline to Remove Suits to July 6
----------------------------------------------------------------
U.S. Bankruptcy Judge Christopher Sontchi has given Gridway Energy
Holdings Inc. until July 6, 2015, to file notices of removal of
lawsuits involving the company and its affiliates.

                       About Gridway Energy

Gridway Energy Holdings, Inc., and its affiliates, including
Glacial Energy Holdings -- providers of electricity and natural gas
in markets that have been restructured to permit retail competition
-- sought Chapter 11 bankruptcy protection (Bankr. D. Del. Lead
Case No. 14-10833) on April 10, 2014.

The Debtors have 200,000 electric residential customers and 55,000
gash residential customers across the U.S.  A large portion of the
customers' energy consumption and revenue is generated in the
northeast U.S., Ohio, Illinois and Texas (collectively accounting
for 80% of revenue), with the remaining portion coming from
California and other states.

The Debtors blamed the bankruptcy due to lower revenue brought by
increased market competition, which caused the Debtors to default
on certain of their obligations.  Gridway defaulted on $60 million
of debt.

Prepetition, the Debtors negotiated a stock purchase transaction
with an interested buyer.  But in March 2014, the purchaser
withdrew from the transaction because of the large amount of debt
that the purchaser would become liable through a stock
transaction.

The Debtors are represented by Michael R. Nestor, Esq., Joseph M.
Barry, Esq., and Donald J. Bowman, Jr., Esq., at Young Conaway
Stargatt & Taylor, LLP; and Alan M. Noskow, Esq., and Mark A.
Salzberg, Esq., at Patton Boggs LLP.  They employed Omni Management
Group, LLC, as claims and notice agent.

Gridway Energy estimated assets of $500 million to $1 billion and
debt of more than $1 billion.

The Creditors' Committee is represented by Sharon Levine, Esq., and
Philip J. Gross, Esq., at Lowenstein Sandler LLP; and Frederick B.
Rosner, Esq., and Julia B. Klein, Esq., at The Rosner Law Group
LLC.

Vantage is represented in the case by Ingrid Bagby, Esq., David E.
Kronenberg, Esq., Kenneth Irvin, Esq., and Karen Dewis, Esq., at
Cadwalader, Wickersham & Taft LLP, and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A.


GRIGGS COUNTY: Moody's Lowers LT GO Issuer Rating to 'B3'
---------------------------------------------------------
Moody's Investors Service downgraded Griggs County, ND's long-term
general obligation (GO) issuer rating and the rating on the
county's GO-supported Lease Revenue Bonds Series 2013 to B3 from
Baa1. A negative outlook has been assigned to both ratings. The
county currently has $2.2 million of Moody's rated lease revenue
debt outstanding.

The downgrade of the long-term issuer rating to B3 reflects the
County Commission's expressed intent to default on lease payments
due on April 25, 2015 for principal and interest payments on the
Series 2013 Lease Revenue Bonds due May 1, 2015. Moody's notes that
the county has sufficient and dedicated funds on hand for the lease
payment. Officials have indicated they do not intend to make
payment since they are not yet able to occupy the county
courthouse, which is the pledged asset. The multi-notch downgrade
reflects the county's explicit unwillingness to pay debt service,
despite the financial ability and the legal obligation to do so
under the lease agreement and master trust indenture. The B3 rating
also reflects our expectation that bondholders will suffer minimal
losses post default, given the ultimate GO support for the
obligation and dedicated levy available to accommodate payments.
The initial Baa1 issuer rating was assigned based on the county's
limited rural tax base and small population; its stable financial
operations with adequate reserve levels relative to budget, but
limited on a nominal basis; and moderate debt and pension
liabilities.

The B3 lease revenue rating is rated on parity with the county's
issuer rating based on the structure of the lease obligation, which
is unconditional and not subject to annual appropriation. It
further reflects the county's obligation to dedicate an irrevocable
10-mill lease levy for repayment and general obligation to levy a
property tax unlimited as to rate or amount in the event proceeds
of the 10-mill levy are insufficient to make annual lease
payments.

The negative outlook reflects the county's expected continued
unwillingness to make lease payments and that any legal proceedings
to compel payment may be protracted and may ultimately result in
minimal impairment to bondholders, despite the ultimate general
obligation security pledged for debt service payment.

What could make the rating go up (or remove the negative outlook):

-- Willingness on behalf of the County Commission to make timely
    principal and interest payments on their lease obligations

What could make the rating go down:

-- Failure by the Trustee to take adequate legal action to
    compel payment or otherwise recoup the full value of payments
    due to bondholders

-- Protracted litigation that increases the likelihood that
    bondholders may settle for less than 95% recovery

Obligor Profile

The county is located in east central North Dakota approximately
100 miles northwest of the city of Fargo near the Sheyenne River
Valley. The county serves a population of approximately 2,372
residents spanning 716 square miles. There are twenty townships and
three incorporated cities within the county, with Cooperstown
serving as the county seat.

Legal Security: Ultimate security on the series 2013 lease revenue
bonds is the GOULT pledge of the county

The county's long-term issuer rating is based on the county's
underlying, implicit General Obligation Unlimited Tax pledge in
which the full faith, credit and resources of the county are
pledged, payable from ad valorem taxes, which may be levied without
limitation as to rate or amount.

The Series 2013 Lease Revenue Bonds are secured by lease payments
made by the county to the Griggs County Building Authority which in
turn make debt service payments to the Trustee, the Bank of North
Dakota. The county entered into the lease arrangement after county
voters rejected the proposed project over three successive votes.
The 2013 lease-based financing was done pursuant to North Dakota
Century Code 57-15-59, which allows for lease arrangements not to
exceed twenty years for the purpose of court, corrections or jail
facilities. The code further allows the governing body to dedicate
a levy up to 10 mills for such purposes and, should the 10 mills at
any time become insufficient, requires the county to levy a tax
unlimited as to rate or amount as needed to fully pay on the lease
obligation. Due to this security, the lease revenue rating in this
case is rated on parity with the implicit general obligation
unlimited tax rating of the county. Under the terms of the lease
agreement, the county will make payments to the authority no later
than five days prior to debt service payment dates. The lease is
unconditional, not subject to appropriation or abatement, and runs
continuously through May 1, 2033 which coincides with debt service
on the lease. Remedies of the trustee upon default include
declaring rent due for the remaining term of the lease and taking
possession of the pledged asset.

Proceeds of the Series 2013 Lease Revenue Bonds were used to
finance a new county courthouse adjacent to a new emergency
operations center that was concurrently financed by federal
grants.

The principal methodology used in this rating was US Local
Government General Obligation Debt published in January 2014. An
additional methodology used in the lease-backed rating was The
Fundamentals of Credit Analysis for Lease-Backed Municipal
Obligations published in December 2011.


GUIDED THERAPEUTICS: Registers 56.6 Million Shares for Resale
-------------------------------------------------------------
Guided Therapeutics, Inc., filed a Form S-1 registration statement
with the Securities and Exchange Commission relating to the sale of
up to 56,665,714 shares of its common stock, consisting of:

   * 4,000,000 shares issued in a March 2015 private placement;

   * 715,823 shares issued or issuable upon conversion of an
     aggregate amount outstanding of $100,000 of the Company's
     secured promissory note;

   * 651,042 shares issued in a Regulation S private placement;

   * 7,619,048 shares issued or issuable upon conversion of an
     aggregate principal amount of $800,000 of the Company's
     senior convertible notes, a portion of which were originally
     registered for resale under a prior registration statement
     but remain unsold;

   * 11,538,323 shares issued or issuable upon conversion of the
     outstanding shares of the Company's Series B convertible
     preferred stock, of which 6,317,502 were originally
     registered for resale under a prior registration statement
     but remain unsold;

   * 2,736,429 shares issued or issuable as payment for dividends
     on the outstanding Series B convertible preferred stock,
     payable through Dec. 31, 2017, of which 1,172,913 were
     originally registered for resale under a prior registration
     statement but remain unsold; and

   * 29,405,049 shares issued or issuable upon exercise of
     warrants at exercise prices ranging from $0.1394 per share to

     $1.08 per share, subject to adjustment as provided in certain

     of the warrants; of which 26,992,921 were originally
     registered for resale under a prior registration statement
     but remain unsold.

The shares offered by this prospectus may be sold from time to time
by John Edwin Imhoff, Magna Equities II, LLC, The Whittemore
Collection, Ltd., et al.

The Company will not receive any cash proceeds from the sale of
shares by the selling stockholders, but to the extent that the
warrants were or are exercised in whole or in part for cash, the
Company has received or will receive payment for the exercise
price.  The Company will pay the expenses of registering the
shares.

The Company's common stock is listed on the OTCQB marketplace under
the symbol "GTHP."  The last reported sale price of the Company's
common stock on the OTCQB on April 14, 2015 was $0.14 per share.
The selling stockholders will sell at prevailing market prices per
share (as quoted on the OTCQB), at the time of sale, at fixed
prices, at varying prices determined at the time of sale, or at
negotiated prices.

A full-text copy of the Form S-1 is available for free at:

                        http://is.gd/Yp0xXr

The Company separately filed with the SEC a post-effective
amendment to its Form S-1 registration statement for the purposes
of updating its financial and other disclosures to, among other
things, include its audited financial statements for the fiscal
year ended Dec. 31, 2014, and covering solely the Warrant Shares
registered pursuant to the Initial Registration Statement, all of
which are outstanding as of the date of April 23, 2015.  A copy of
the amendment is available at http://is.gd/Z6lKpS

                     About Guided Therapeutics

Guided Therapeutics, Inc. (OTC BB and OTC QB: GTHP)
-- http://www.guidedinc.com/-- is developing a rapid and painless
test for the early detection of disease that leads to cervical
cancer.  The technology is designed to provide an objective result
at the point of care, thereby improving the management of cervical
disease.  Unlike Pap and HPV tests, the device does not require a
painful tissue sample and results are known immediately.  GT has
also entered into a partnership with Konica Minolta Opto to
develop a non-invasive test for Barrett's Esophagus using the
LightTouch technology platform.

For the year ended Dec. 31, 2014, the Company reported a net loss
attributable to common stockholders of $10.03 million on $65,000 of
contract and grant revenue compared to a net loss attributable to
common stockholders of $10.39 million on $820,000 of contract and
grant revenue in 2013.

As of Dec. 31, 2014, the Company had $3.03 million in total assets,
$7.49 million in total liabilities, and a $4.46 million total
stockholders' deficit.

                        Bankruptcy Warning

"The Company's capital-raising efforts are ongoing.  If sufficient
capital cannot be raised during the second quarter of 2015, the
Company has plans to curtail operations by reducing discretionary
spending and staffing levels, and attempting to operate by only
pursuing activities for which it has external financial support and
additional NCI, NHI or other grant funding.  However, there can be
no assurance that such external financial support will be
sufficient to maintain even limited operations or that the Company
will be able to raise additional funds on acceptable terms, or at
all.  In such a case, the Company might be required to enter into
unfavorable agreements or, if that is not possible, be unable to
continue operations, and to the extent practicable, liquidate
and/or file for bankruptcy protection," the Company said in its
annual report for the year ended Dec. 31, 2014.  NCI stands for
National Cancer Institute.


HALCON RESOURCES: J.P. Morgan Swaps 40M Notes for 22.2M Shares
--------------------------------------------------------------
Halcon Resources Corporation entered into an exchange agreement
with J.P. Morgan Securities LLC, an existing holder of the
Company's 8.875% senior notes due 2021, pursuant to which J.P.
Morgan agreed to exchange approximately $40 million principal
amount of those notes for approximately 22.2 million shares of the
Company's common stock, resulting in an effective exchange price of
$1.80 per share.  The exchange offer is expected to close on or
around April 29, 2015, at which time all interest that accrued
since the prior interest payment date in November 2014 will be paid
to the Holder.

The exchange offer is being made in reliance on the exemption from
registration provided by Section 3(a)(9) under the Securities Act
of 1933, as amended.

                       About Halcon Resources

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

As of Sept. 30, 2014, Halcon Resources had $5.93 billion in total
assets, $3.59 billion in total liabilities, $111 million in
redeemable noncontrolling interest, and $1.51 billion in total
stockholders' equity.

                          *     *      *

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

In April 2015, Standard & Poor's Ratings Services lowered its
corporate credit rating on Halcon Resources Corp. to 'CCC+' from
'B'.  "The downgrade follows Halcon's announcement that it has
entered into an agreement with holders of a portion of its senior
unsecured notes to exchange the notes for common stock," said
Standard & Poor's credit analyst Ben Tsocanos.  "We do not view the
transaction as a distressed exchange because investors received
stock valued at more than what was promised on the original
securities," said Mr. Tsocanos.


HALCON RESOURCES: Prices $700 Million of Senior Secured Notes
-------------------------------------------------------------
Halcon Resources Corporation has priced $700 million in aggregate
principal amount of senior secured notes due 2020 in a private
offering.  The Notes will bear interest at a rate of 8.625% per
annum and will be issued at par.  The Notes offering was increased
from the previously announced $500 million aggregate principal
amount.  The Notes will be secured by second-priority liens on
substantially all of Halcon's and its subsidiary guarantors' assets
that secure the Company's senior secured revolving credit
facility.

Halcon intends to use the net proceeds from the offering to repay
the outstanding borrowings under its senior secured revolving
credit facility and for general corporate purposes.

The securities were offered to qualified institutional buyers
pursuant to Rule 144A and to certain persons in offshore
transactions pursuant to Regulation S, each under the Securities
Act of 1933, as amended.  The Company expects to close the offering
on or about May 1, 2015.

                         Exchange Agreement

On April 24, 2015, the Company entered into an exchange agreement
with several investment funds advised by Pioneer Investments, each
of which is an existing holder of the Company's 9.75% senior notes
due 2020, 8.875% senior notes due 2021 and 9.25% senior notes due
2022, pursuant to which the Holders agreed to exchange an aggregate
$25 million principal amount of the Senior Notes for approximately
14.8 million shares of the Company's common stock, resulting in an
effective exchange price of $1.69 per share.  Of the aggregate $25
million principal amount of Senior Notes to be exchanged by the
Holders, approximately $2.8 million is principal amount of 2020
Notes, approximately $16.8 million is principal amount of 2021
Notes and approximately $5.4 million is principal amount of 2022
Notes.  The exchange offer is expected to close on or around April
30, 2015, at which time all interest that accrued since the
relevant prior interest payment dates for each of the Notes will be
paid to the Holders.

The exchange offer is being made in reliance on the exemption from
registration provided by Section 3(a)(9) under the Securities Act
of 1933, as amended.

                      About Halcon Resources

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

As of Sept. 30, 2014, Halcon Resources had $5.93 billion in total
assets, $3.59 billion in total liabilities, $111 million in
redeemable noncontrolling interest, and $1.51 billion in total
stockholders' equity.

                          *     *      *

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

In April 2015, Standard & Poor's Ratings Services lowered its
corporate credit rating on Halcon Resources Corp. to 'CCC+' from
'B'.  "The downgrade follows Halcon's announcement that it has
entered into an agreement with holders of a portion of its senior
unsecured notes to exchange the notes for common stock," said
Standard & Poor's credit analyst Ben Tsocanos.  "We do not view the
transaction as a distressed exchange because investors received
stock valued at more than what was promised on the original
securities," said Mr. Tsocanos.


HERCULES OFFSHORE: Files Fleet Status Report as of April 22
-----------------------------------------------------------
Hercules Offshore, Inc., posted on its Web site at
http://www.herculesoffshore.com/a report entitled "Hercules
Offshore Fleet Status Report".  The Fleet Status Report includes
the Hercules Offshore Rig Fleet Status (as of April 22, 2015),
which contains information for each of the Company's drilling rigs,
including contract dayrate and duration.  The Fleet Status Report
also includes the Hercules Offshore Liftboat Fleet Status Report,
which contains information by liftboat class for March 2015,
including revenue per day and operating days.  The Fleet Status
Report is available for free at http://is.gd/477R9O

                       About Hercules Offshore

Hercules Offshore Inc. (NASDAQ: HERO) --
http://www.herculesoffshore.com/-- provides shallow-water         
drilling and marine services to the oil and natural gas
exploration and production industry in the United States, Gulf of
Mexico and internationally.  The Company provides these services
to integrated energy companies, independent oil and natural gas
operators and national oil companies.  The Company operates in six
business segments: Domestic Offshore, International Offshore,
Inland, Domestic Liftboats, International Liftboats and Delta
Towing.

Hercules Offshore reported a net loss of $216 million in 2014,
compared to a net loss of $68.1 million in 2013.  As of Dec. 31,
2014, the Company had $2 billion in total assets, $1.38 billion in
total liabilities and $615 million in equity.

                           *     *     *

The TCR reported in March 2015 that Moody's Investors Service
downgraded Hercules Offshore, Inc.'s Corporate Family Rating to
Caa2 from B2.  The Caa2 Corporate Family Rating (CFR) reflects the
company's contract roll-off and sparse contract coverage through
the June 2016, its aging fleet, and the projection for a
deterioration of its liquidity position.

As reported by the TCR on March 2, 2015, Standard & Poor's Ratings
Services lowered its corporate credit rating on Houston-based
Hercules Offshore Inc. to 'CCC+' from 'B-'.

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


HORIZON LINES: Sale of Hawaii Business Cleared by DOJ
-----------------------------------------------------
Horizon Lines, Inc., reported that, after a review by the Antitrust
Division of the Department of Justice, Horizon's proposed sales
transaction with The Pasha Group has been granted early termination
of the premerger waiting period.  This grant was effective April
21, 2015.  

Subject to the satisfaction of any remaining conditions to closing,
Horizon expects the closing of the transaction to occur before the
end of the company's second quarter.

Horizon Lines previously entered into definitive agreements with
each of Matson Inc. and The Pasha Group.  Under the Matson
agreement, Matson will acquire all outstanding shares of Horizon
Lines for $0.72 per share in an all-cash transaction.  The
acquisition price represents a premium of approximately 89% over
Horizon's closing stock price on Nov. 10, 2014.

Under the Pasha agreement, Pasha will acquire Horizon Lines'
Hawaii trade lane business, prior to closing of the Matson
agreement, for approximately $142 million in cash.

                        About Horizon Lines

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

Horizon Lines reported a net loss of $94.6 million for the year
ended Dec. 21, 2014, compared to a net loss of $31.9 million for
the year ended Dec. 22, 2013.

As of Dec. 21, 2014, Horizon Lines had $580 million in total
assets, $725 million in total liabilities, and a $145 million in
total stockholders' deficiency.

                           *     *     *

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

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


HORIZON PHARMA: Moody's Says Debt Upsizing is Credit Negative
-------------------------------------------------------------
Moody's Investors Service commented that the deal structure changes
of Horizon Pharma, Inc. (subsidiary of Horizon Pharma plc,
collectively "Horizon") are credit negative due to an increase in
total debt outstanding. However, there are no changes to the
current ratings including the B2 Corporate Family Rating, or the
stable rating outlook.

Headquartered in Deerfield, Illinois, Horizon Pharma, Inc., is an
indirect wholly-owned subsidiary of Dublin, Ireland-based Horizon
Pharma plc (collectively "Horizon"). Horizon is a publicly-traded
specialty pharmaceutical company marketing products in arthritis,
inflammation and orphan diseases.


IMAGEWARE SYSTEMS: Amends 2014 Annual Report to Add Information
---------------------------------------------------------------
Imageware Systems Incorporated has amended its annual report on
Form 10-K for the year ended Dec. 31, 2014, originally filed with
the Securities and Exchange Commission on March 16, 2015.  The sole
purpose of the amendment was to include information previously
omitted from Items 10, 11, 12, 13, and 14 of Part III of the
Original Filing, in reliance on General Instruction G(3) to Form
10-K, which provides that registrants may incorporate by reference
certain information from a definitive proxy statement filed with
the SEC within 120 days after fiscal year end.  A copy of the Form
10-K/A is available at http://is.gd/8I8BLG

                     About ImageWare Systems

Headquartered in San Diego, California, ImageWare Systems, Inc.,
is a leader in the emerging market for software-based identity
management solutions, providing biometric, secure credential, law
enforcement and enterprise authorization.  Its "flagship" product
is the IWS Biometric Engine.  Scalable for small city business or
worldwide deployment, the Company's biometric engine is a multi-
biometric platform that is hardware and algorithm independent,
enabling the enrollment and management of unlimited population
sizes.  The Company's identification products are used to manage
and issue secure credentials, including national IDs, passports,
driver licenses, smart cards and access control credentials.  Its
law enforcement products provide law enforcement with integrated
mug shot, fingerprint LiveScan and investigative capabilities.
The Company also provides comprehensive authentication security
software.

Imageware Systems incurred a net loss of $9.84 million in 2013, a
net loss of $10.2 million in 2012 and a net loss of $3.18 million
in 2011.

As of Sept. 30, 2014, the Company had $5.67 million in total
assets, $4.51 million in total liabilities and $1.15 million in
total shareholders' equity.


INDRA HOLDING: Moody's Alters Outlook to Negative & Affirms B2 CFR
------------------------------------------------------------------
Moody's Investors Service revised the outlook of Indra Holding Corp
("Totes") to negative from stable. Moody's affirmed all the
company's ratings, consisting of the B2 Corporate Family Rating
(CFR), B2-PD Probability of Default Rating, and B2 rating on the
$245 million first lien term loan.

The outlook revision to negative reflects the risk that the company
may not be able to fully reverse the deterioration in its operating
performance over the past several quarters, leading to sustained
weak credit metrics, including leverage of about 7 times as of
January 31, 2015. Totes' EBITDA has declined since the leveraged
buyout in May 2014 as a result of changes in various retailer
programs and warmer weather in early winter that cut into cold
weather accessories such as hats and gloves. Moody's views some of
these declines as temporary and expects that Totes will be able to
resume earnings growth in the near term. However, Moody's expects
the company to face challenges in its sizeable international
business, which comprises about one third of revenue, from the
strong U.S. dollar and weakness in the European economy. The
expiration of Totes' current FX hedges in fiscal 2017 will add to
these pressures, particularly if the US Dollar remains strong in
the meantime. Moody's believes that given the mature and highly
competitive nature of the industry, Totes may not be able to offset
these pressures and generate earnings growth sufficient to
meaningfully reduce its high leverage.

Moody's affirmed the B2 CFR and other ratings detailed below
because Moody's projects the company will generate positive free
cash flow of approximately $10 million over the next 12 months.
Combined with sufficient revolver availability, this should support
a good liquidity position and allow the company to reduce debt and
leverage modestly.

Moody's took the following rating actions on Indra Holding Corp.:

  -- Corporate Family Rating, affirmed at B2

  -- Probability of Default Rating, affirmed at B2-PD

  -- $245 million first lien senior secured term loan due 2021,
     affirmed at B2 (LGD3)

  -- Outlook, revised to negative from stable

The B2 CFR reflects the company's high leverage, risks associated
with private equity ownership, modest scale, and the commoditized
nature of its products. In addition, Totes' make-or-break
seasonality not only means that adverse weather patterns or
consumer spending habits during its peak season could significantly
impact its operations, but it also makes the company heavily
reliant on its revolver for seasonal working capital uses.
Nevertheless, the rating is supported by the company's low fashion
risk, well-recognized brands (albeit in niche product categories),
established presence across diversified distribution channels and
geographic diversification. The rating also reflects Totes' good
liquidity, including consistent positive free cash flow generation,
a covenant-lite structure, and sufficient revolver availability,
despite significant seasonal revolver borrowings.

The ratings could be downgraded if Totes does not improve its
operating performance or if liquidity meaningfully deteriorates,
including a sustained decline in free cash flow or reduced revolver
availability. Quantitatively, the ratings could be downgraded if
Moody's adjusted debt/EBITDA is sustained above 6.5 times.

An upgrade is unlikely in the near term given the company's modest
scale, weather dependence and the risk associated with private
equity ownership. The ratings could be upgraded if Totes
demonstrates a financial policy aimed at reducing debt, while
generating revenue and earnings growth, and sustaining good
liquidity. Quantitatively, the ratings could be upgraded if
debt/EBITDA (Moody's-adjusted) is maintained below 5.0 times.

Based in Cincinnati, Ohio, Totes is an international designer,
marketer and distributor of cold and wet weather accessories,
slippers, sandals, headwear, and sunglasses with net revenues
approaching $400 million. The company distributes umbrellas and
related products primarily under the "totes" and "Raines" brands,
cold-weather products including gloves and hats under the
"Isotoner", "Woolrich", "Manzella", "Grandoe" and C9 brands, and
slippers and sandals, under the "Isotoner" and "Acorn" brands as
well as private labels. The company is owned by Freeman Spogli &
Co. and Investcorp following its acquisition from previous private
equity sponsor MidOcean Partners in May 2014. Totes' fiscal year
ends on July 31.

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


INTELLIPHARMACEUTICS INT'L: Six Directors Elected to Board
----------------------------------------------------------
Dr. Isa Odidi, Dr. Amina Odidi, John Allport, Bahadur Madhani,
Kenneth Keirstead and Dr. Eldon R. Smith were elected as directors
of Intellipharmaceutics International Inc. at the annual and
special meeting of shareholders of the Company held on April 21,
2015, according to a document filed with the Securities and
Exchange Commission.

The shareholders also ratified the reappointment of Deliotte LLP,
Chartered Professional Accountants, as the auditor of the Company
and to authorize the directors to fix the auditor's remuneration.
All unallocated common shares under the Corporation's stock option
plan were approved.

                    About Intellipharmaceutics

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

Intellipharmaceutics reported a net loss of $3.85 million on $8.76
million of revenues for the year ended Nov. 30, 2014, compared with
a net loss of $11.5 million on $1.52 million of revenues for the
year ended Nov. 30, 2013.

As of Feb. 28, 2015, the Company had $7.31 million in total assets,
$3.13 million in total liabilities, and $4.18 million in
shareholders' equity.

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


J. CREW: Bank Debt Trades at 6% Off
-----------------------------------
Participations in a syndicated loan under which J. Crew is a
borrower traded in the secondary market at 93.80 cents-on-the-
dollar during the week ended Friday, April 24, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents a decrease of 0.43 of
percentage points from the previous week, The Journal relates.  J.
Crew pays 300 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Feb. 27, 2021 and carries
Moody's B1 rating and Standard & Poor's B rating.  The loan is one
of the biggest gainers and losers among 243 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



JOHN ALTORELLI: Lied About Value of Assets, JPMorgan Chase Says
---------------------------------------------------------------
JPMorgan Chase is asking the Bankruptcy Court to declare the
$500,000 loan John Altorelli had taken out in 2012
nondischargeable, Nell Gluckman, writing for The American Lawyer,
reports.

JPMorgan, according to The American Lawyer, claims in a complaint
filed with the Bankruptcy Court that Mr. Altorelli misrepresented
the value of his assets in 2014 to convince JPMorgan to extend his
loan.

JPMorgan says in court documents that Mr. Altorelli was granted the
line of credit in February 2012 and given one year to pay it back.
The American Lawyer recalls that in July 2013, with his balance
still at $500,000, he was granted an additional year to repay the
loan.

The American Lawyer relates that JPMorgan claims that Mr. Altorelli
had only paid back $36,111 by 2014, leaving a balance of $463,889.
JPMorgan states in court filings that that Mr. Altorelli provided a
written personal financial statement detailing his assets and their
worth, to convince JPMorgan to give him more time.  The American
Lawyer adds that JPMorgan extended the loan in August for another
year.

On Dec. 31, 2014, Mr. Altorelli disclosed, along with a lengthy
list of assets that detail the value of everything from his vacuums
to his golf clubs, his $158,875 monthly income at DLA Piper, and
hefty monthly expenses totaling $196,288 for alimony, car payments,
house payments, taxes, insurance and other bills, The American
Lawyer relates.  

According to The American Lawyer, JPMorgan alleges that when Mr.
Altorelli was trying to get the bank to extend his loan in 2014, he
told them on his personal financial statement that he was worth
much more than he what he claims in his bankruptcy petition.  

                      About John Altorelli

John Altorelli is now co-chair of DLA Piper's finance practice in
the U.S.

As reported by the Troubled Company Reporter on Nov. 27, 2014, Sara
Randazzo, writing for The Wall Street Journal, reported that
John Altorelli, an outspoken former Dewey & LeBoeuf LLP partner
sued for $12.9 million in the wake of the law firm's collapse,
filed for personal bankruptcy to halt the collection efforts.

                      About Dewey & LeBoeuf

Dewey & LeBoeuf LLP sought Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 12-12321) to complete the wind-down of its operations.
The firm had struggled with high debt and partner defections.
Dewey disclosed debt of $245 million and assets of $193 million in
its chapter 11 filing late evening on May 29, 2012.

Dewey & LeBoeuf LLP operated as a prestigious, New York City-
based, law firm that traced its roots to the 2007 merger of Dewey
Ballantine LLP -- originally founded in 1909 as Root, Clark & Bird
-- and LeBoeuf, Lamb, Green & MacCrae LLP -- originally founded in
1929.  In recent years, more than 1,400 lawyers worked at the firm
in numerous domestic and foreign offices.

At its peak, Dewey employed about 2,000 people with 1,300 lawyers
in 25 offices across the globe.  When it filed for bankruptcy,
only 150 employees were left to complete the wind-down of the
business.

Dewey's offices in Hong Kong and Beijing are being wound down.
The partners of the separate partnership in England are in process
of winding down the business in London and Paris, and
administration proceedings in England were commenced May 28.  All
lawyers in the Madrid and Brussels offices have departed.  Nearly
all of the lawyers and staff of the Frankfurt office have
departed, and the remaining personnel are preparing for the
closure.  The firm's office in Sao Paulo, Brazil, is being
prepared for closure and the liquidation of the firm's local
affiliate.  The partners of the firm in the Johannesburg office,
South Africa, are planning to wind down the practice.

The firm's ownership interest in its practice in Warsaw, Poland,
was sold to the firm of Greenberg Traurig PA on May 11 for
$6 million.  The Pension Benefit Guaranty Corp. took $2 million of
the proceeds as part of a settlement.

Judge Martin Glenn oversees the case.  Albert Togut, Esq., at
Togut, Segal & Segal LLP, represents the Debtor.  Epiq Bankruptcy
Solutions LLC serves as claims and notice agent.  The petition was
signed by Jonathan A. Mitchell, chief restructuring officer.

JPMorgan Chase Bank, N.A., as Revolver Agent on behalf of the
lenders under the Revolver Agreement, hired Kramer Levin Naftalis
& Frankel LLP.  JPMorgan, as Collateral Agent for the Revolver
Lenders and the Noteholders, hired FTI Consulting and Gulf
Atlantic Capital, as financial advisors.  The Noteholders hired
Bingham McCutchen LLP as counsel.

The U.S. Trustee formed two committees -- one to represent
unsecured creditors and the second to represent former Dewey
partners.  The creditors committee hired Brown Rudnick LLP led by
Edward S. Weisfelner, Esq., as counsel.  The Former Partners hired
Tracy L. Klestadt, Esq., and Sean C. Southard, Esq., at Klestadt &
Winters, LLP, as counsel.

FTI Consulting, Inc. was appointed secured lender trustee for the
Secured Lender Trust.  Alan Jacobs of AMJ Advisors LLC, was named
Dewey's liquidation trustee.  Scott E. Ratner, Esq., Frank A.
Oswald, Esq., David A. Paul, Esq., Steven S. Flores, Esq., at
Togut, Segal & Segal LLP, serve as counsel to the Liquidation
Trustee.

Dewey's liquidating Chapter 11 plan was approved by the bankruptcy
court in February 2013 and implemented in March.  The plan created
a trust to collect and distribute remaining assets.  The firm
estimated that midpoint recoveries for secured and unsecured
creditors under the plan would be 58.4 percent and 9.1 percent,
respectively.


JOSEPH A. BURALLI: Wins Judgment Against Charles Cameron
--------------------------------------------------------
Bankruptcy Judge Thomas M. Lynch, in his April 10, 2015 Amended
Memorandum Decision, rendered judgment in favor of Defendant Joseph
A. Buralli in the case Charles Cameron, Plaintiff, v. Joseph A.
Buralli, Defendant, BANKRUPTCY NO. 10-B-74494, ADVERSARY NO.
10-A-96183.

The Court held that Plaintiff Charles Cameron failed to demonstrate
that he relied on a misrepresentation made by Defendant Joseph A.
Buralli. Knowing about the full details regarding the chain of
ownership and interest in the Huntley property would not have
affected Mr. Cameron's decision-making at the time he made and
extended the loans to Mr. Buralli.

A copy of Judge Lynch's Amended Memorandum Decision is available at
http://is.gd/AU3CERfrom Leagle.com.

                     About Joseph A. Buralli

Joseph A. Buralli has been a real estate developer since 1988.  Mr.
Buralli filed his voluntary petition for protection under Chapter
11 of the Bankruptcy Code (N.D. Ill. Case No. 10-74494) on
September 8, 2010. The Debtor voluntarily converted the case to
Chapter 7 on October 20, 2010. A Chapter 7 trustee determined there
were no assets to administer for the estate, and a discharge was
entered and the bankruptcy case closed on April 30, 2013.


KOBRA PROPERTIES: Former Principal Partner Indicted in Loan Fraud
-----------------------------------------------------------------
U.S. Attorney Benjamin B. Wagner announced that a federal grand
jury has returned a 21-count indictment against Abolghasseni
Alizadeh -- a former principal partner in Kobra Properties -- and
Mary Sue Weaver, charging them with various counts of mail, wire
and bank fraud in connection with schemes to defraud lenders in
large commercial real estate transactions between mid-2004 and
April 2008, Theunion.com reports.

Mr. Alizadeh and Ms. Weaver could face a maximum statutory penalty
of 30 years in prison and a $1 million fine for each count,
Theunion.com states.  Assistant U.S. Attorneys Michael D. Anderson
and Heiko P. Coppola are prosecuting the case, the report adds.

Theunion.com relates that the indictment alleges that Ms. Weaver,
who was an escrow officer with Placer Title Company, and Mr.
Alizadeh engaged in a scheme to get loans at inflated amounts on
commercial and residential real estate.  According to the report,
Mr. Alizadeh allegedly would submit false information, including
altered purchase contracts for million-dollar property purchases,
to federally insured banks in order to make it appear that Mr.
Alizadeh was purchasing the properties for a greater amount than
the actual purchase price.  Court documents indicate that Ms.
Weaver assisted the fraud scheme in various ways, including by
taking the money belonging to other Placer County clients and
temporarily moving the funds into accounts controlled by Mr.
Alizadeh.

Headquartered in Roseville, California, Kobra Properties, a
California partnership, filed for Chapter 11 bankruptcy protection
(Bankr. E.D. Calif. Case No. 13-21180) on Jan. 30, 2013, estimating
its assets and debts at between $1 million and $10 million each.
The petition was signed by Abolghassem Alizadeh, general partner.

Judge Christopher M. Klein presides over the case.

Paul A. Warner, Esq., at the Law Offices of Paul Warner serves as
the Company's bankruptcy counsel.


KU6 MEDIA: Reports $10.7 Million Net Loss in 2014
-------------------------------------------------
Ku6 Media Co., Ltd., filed with the Securities and Exchange
Commission its annual report on Form 20-F disclosing a net loss of
$10.7 million on $8.58 million of total net revenues for the year
ended Dec. 31, 2014, compared to a net loss of $34.4 million on
$13.1 million of total net revenues for the year ended Dec. 31,
2013.

As of Dec. 31, 2014, the Company had $5.62 million in total assets,
$9.76 million in total liabilities, and a $4.13 million total
shareholders' deficit.

PricewaterhouseCoopers Zhong Tian LLP, in Shanghai, the People's
Republic of China, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that the Company's recurring losses, negative working
capital, net cash outflows, and uncertainties associated with
significant changes made, or planned to be made, in respect of the
Company's business model, raise substantial doubt about the
Company's ability to continue as a going concern.

A full-text copy of the Form 20-F is available for free at:

                        http://is.gd/2ZToJ5

                          About Ku6 Media

Ku6 Media Co., Ltd. -- http://ir.ku6.com/-- is an Internet video
company in China focused on User-Generated Content.  Through its
premier online brand and online video Web site, http://www.ku6.com/
, Ku6 Media provides online video uploading and sharing service,
video reports, information and entertainment in China.


LANDRY'S INC: S&P Raises Rating on $771.6MM Unsec. Notes to 'B-'
----------------------------------------------------------------
Standard & Poor's Ratings Services raised its issue-level rating on
Landry's Inc.'s $771.6 million 9.375% senior unsecured notes to
'B-' from 'CCC+' and revised its recovery rating on this debt
instrument to '5' from '6'.  The action reflects S&P's view of
better recovery prospects for note holders as a result of
approximately $72 million of term loan repayment with free
operating cash flow.  The '5' recovery rating indicates S&P's
expectation for modest recovery (the low end of the 10% to 30%
range) in the event of default.

Concurrently, S&P is affirming all existing ratings on Landry's,
including the 'B' corporate credit rating. The outlook is stable.

"The ratings on Landry's reflect the company's participation in the
highly competitive and fragmented restaurant industry, its well
diversified portfolio of restaurants, and stable performance
trends," said credit analyst Mariola Borysiak.  "Landry's has
successfully integrated a number of acquired companies and realized
meaningful operational synergies.  Its restaurant renovation and
strong loyalty program drive guest traffic and propel same-store
sales growth, allowing the company to partially mitigate commodity
inflation pressure.   As a result, we are revising our assessment
of the company's business risk profile to "fair" from "weak"."

The rating outlook is stable and incorporates S&P's expectation
that the company's diversified restaurant portfolio, recognized
brand name, and loyalty program will support stable performance in
the upcoming year.

S&P could consider a negative rating action if competitive
pressures in the restaurant industry hurt the company's guest
traffic and profitability, causing leverage to increase to the
high-6x area on sustained basis.  Leverage could increase to this
threshold if the company pursues debt-financed dividend or makes a
debt-financed acquisition.  Under this scenario S&P would likely
apply a negative comparable rating analysis modifier, indicating
that credit ratios are on the lower end of the range for peers in
'B' category.  S&P calculates that about $450 million of
incremental debt and flat EBITDA at the December 2014 level would
lead to debt leverage increasing to the high-6x area.  Leverage
could also reach this level if EBITDA declines about 15% from the
December 2014 level and debt remains constant.

S&P could consider an upgrade if the company continues to reduce
its outstanding debt which, together with improving profitability,
causes leverage to declining toward the low-5x area.  Any positive
rating action would also require S&P to assess the possibility for
future debt-financed acquisitions.



LEHMAN BROTHERS: Barclays Wins Latest Round in Fight Over Sale
--------------------------------------------------------------
Patrick Fitzgerald, writing for Daily Bankruptcy Review, reported
that Judge Katherine B. Forrest of the U.S. District Court in New
York denied Lehman Brothers Inc.'s bid to carve out $1.3 billion
from an earlier court decision that awarded $4 billion in disputed
assets to Barclays PLC stemming from the U.K. bank's purchase of
Lehman's brokerage business.

According to the report, Judge Forrest said that Barclays was
entitled to all of the so-called margin assets -- some billions of
dollars in cash and collateral -- securing derivatives positions.
The ruling is a win for Barclays, which purchased Lehman's
brokerage business days after Lehman's 2008 collapse, the report
related.

                     About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was    
the fourth largest investment bank in the United States.  For
more than 150 years, Lehman Brothers has been a leader in the
global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy Sept. 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Several other affiliates followed
thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC sought for bankruptcy protection in December 2009.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.  
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI.

The Bankruptcy Court approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for US$1.75
billion.  Nomura Holdings Inc., the largest brokerage house in
Japan, purchased LBHI's operations in Europe for US$2 plus the
retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

As of Oct. 2, 2014, Lehman's total distributions to unsecured
creditors have amounted to $92.0 billion.  As of Sept. 30, 2014,
the brokerage trustee has substantially completed customer claims
distributions, distributing more than $106 billion to 111,000
customers.


LIME ENERGY: Director Stephen Glick Won't Seek for Re-Election
--------------------------------------------------------------
Stephen Glick, a member of the Board of Directors of Lime Energy,
Inc., advised the Company that he will not seek re-election to the
Board when his term expires at the Company's 2015 Annual Meeting of
Stockholders.  Mr. Glick's decision did not involve any
disagreement with the Company on any matter relating to its
operations, policies or practices, according to a Form 8-K report
filed with the Securities and Exchange Commission.

                         About Lime Energy

Headquartered in Huntersville, North Carolina, Lime Energy Co. --
http://www.lime-energy.com/-- is engaged in planning and
delivering clean energy solutions that assist its clients in their
energy efficiency and renewable energy goals.  The Company's
solutions include energy efficient lighting upgrades, energy
efficient mechanical and electrical retrofit and upgrade services,
water conservation, building weatherization, on-site generation
and renewable energy project development and implementation.  The
Company provides energy solutions across a range of facilities,
from high-rise office buildings, distribution facilities,
manufacturing plants, retail sites, multi-tenant residential
buildings, mixed use complexes, hospitals, colleges and
universities, government sites to small, single tenant facilities.

Lime Energy reported a net loss available to common stockholders
of $18.5 million in 2013, a net loss of $31.8 million
in 2012 and a net loss of $18.9 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $31.1
million in total assets, $22.8 million in total liabilities and
$8.33 million in total stockholders' equity.


LONGVIEW POWER: Judge Extends Deadline to Remove Suits
------------------------------------------------------
Longview Power LLC received approval from the U.S. Bankruptcy Court
in Delaware to file notices of removal of lawsuits until the
effective date of its Chapter 11 plan of reorganization.

                       About Longview Power

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

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

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

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

Judge Brendan Linehan Shannon on March 16, 2015, confirmed the
Debtors' Second Amended Joint Plan of Reorganization.  The Plan
incorporates the settlement among the Debtors, First American
Title Insurance Company, and their contractors Amec Foster Wheeler
North America, Kvaerner, and Siemens Energy, Inc.


LUNDIN MINING: S&P Raises CCR to 'BB-' on Higher Expected Output
----------------------------------------------------------------
Standard & Poor's Ratings Services said it raised its long-term
corporate credit rating on Toronto-based base metals producer
Lundin Mining Corp. to 'BB-' from 'B+'.  The outlook is stable.

At the same time, Standard & Poor's raised its rating on the
company's senior secured notes to 'BB-' from 'B+'.  The recovery
rating on senior secured notes is unchanged at '3', which
corresponds with meaningful (50%-70%) recovery, at the higher end
of the range.

"The upgrade reflects our view that the integration and execution
risks associated with Lundin's recently acquired Chilean assets and
ramp-up of the company's Eagle mine have moderated," said Standard
& Poor's credit analyst Jarrett Bilous.  "We expect these assets
will primarily lead to a significant increase in Lundin's output
relative to 2014 levels, and a corresponding improvement in cash
flow generation and core credit ratios," Mr. Bilous added.

"Our financial expectations are relatively unchanged from our
October 2014 review.  However, we now believe there is less
likelihood for material operating issues as the integration of the
company's Chilean assets remains on track and we expect Lundin's
Eagle mine will reach full design capacity imminently.  As such, we
no longer apply a one-notch comparable rating analysis adjustment
to the long-term corporate credit rating, which previously
incorporated these risks," S&P noted.

"We continue to view Lundin's business risk profile as "weak,"
which reflects our view of the company's fairly concentrated asset
base, its average-but-improving cost position, and profitability
generally in line with that of comparable mining companies.  Our
assessment of Lundin's financial risk profile as "significant"
reflects the company's higher debt position related to its Chilean
mines acquisition, and incorporates the potential for high
volatility in the company's credit measures," S&P added.

The stable reflects S&P's expectation that Lundin will generate
sustainably higher output and cash flow through 2015, led by its
Chilean assets and full ramp-up of its Eagle mine.  S&P estimates
the company will generate adjusted debt-to-EBITDA leverage ratio of
about 2x alongside an adjusted FFO-to-debt ratio of about 40% in
2015.

S&P could lower the rating if the company's adjusted debt-to-EBITDA
ratio increased to about 4x and adjusted FFO-to-debt ratio declined
to about 20%.  In S&P's view, this could result from sustained
operational challenges at Ludin's core mines, weaker-than-expected
market conditions, debt-financed acquisitions, or
shareholder-friendly initiatives.

S&P could consider a positive rating action if Lundin strengthens
its competitive position and profitability or its financial risk
profile.  In S&P's view, this could result from the company
generating higher-than-expected output from new or existing assets
and cash cost improvement, while maintaining adjusted
debt-to-EBITDA leverage ratio at or below 2x.



M. MULLINS: Case Summary & 3 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: M. Mullins, Inc.
           dba The Beginners Inn Child Care & Learning Center
        7505 Canton Center Road
        Canton, MI 48187

Case No.: 15-46424

Chapter 11 Petition Date: April 23, 2015

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

Judge: Hon. Phillip J Shefferly

Debtor's Counsel: Jason W. Bank, Esq.
                  KERR, RUSSELL AND WEBER, PLC
                  500 Woodward Avenue, Suite 2500
                  Detroit, MI 48226
                  Tel: (313) 961-0200
                  Fax: (313) 961-0388
                  Email: jbank@kerr-russell.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Michelle Rodriguez, president.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/mieb15-46424.pdf


MAPLE HEIGHTS, OH: Moody's Lowers GOLT Debt Rating to B3
--------------------------------------------------------
Moody's Investors Service has downgraded the City of Maple Heights,
OH's general obligation limited tax (GOLT) debt rating to B3 from
Ba2, affecting $13.3 million of outstanding bonds. Concurrently, a
negative outlook has been assigned. This rating action resolves the
review for possible downgrade that we initiated in February 2015.
This rating action is based upon publicly available information
gathered since the inception of the review. While city officials
have not responded to requests for further information, Moody's has
deemed this available information sufficient to maintain our
rating; however, the maintenance of our rating will depend upon
adequate information provided publicly and directly from the
issuer.

The downgrade to B3 reflects the city's extremely narrow cash
position, as stated by the city in publicly available financial
reports as of March 31, 2015, which may lead to difficulty in
making timely debt service payments. Additionally, the city failed
to make timely payment on three Ohio Water Development Authority
(OWDA) loans in January 2015. The rating also incorporates the
city's weak economic, tax base and demographic fundamentals which
have continued to decline since the recession; weak financial
position across all governmental funds; average debt burden and
above average exposure to unfunded pension liabilities based on
participation in two statewide cost-sharing plans.

The assignment of the negative outlook reflects our expectation
that the city's financial position could deteriorate further given
a lack of forward looking information or recovery plan at this
time. We expect plans to be forthcoming and will continue to
consider the sufficiency of available information. We will evaluate
the sufficiency of available information at the time of our next
review.

What could make the rating go up:

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

  -- Significant improvement in General and governmental fund
     reserves

  -- Successful implementation of a feasible financial recovery
     plan

What could make the rating go down

  -- Further economic and demographic challenges

  -- Continued weakening of the city's financial position in
     fiscal 2015

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

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

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

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


MAUI LAND: Shareholders Elect Five Directors to Board
-----------------------------------------------------
Maui Land & Pineapple Company, Inc. held its 2015 annual meeting of
shareholders on April 22, 2015, at which the shareholders elected
Stephen M. Case, Warren H. Haruki, Duncan MacNaughton,
Anthony P. Takitani and Arthur C. Tokin as directors for a one-year
term or until their successors are elected and qualified.

The shareholders also approved, on a non-binding advisory basis,
the compensation paid to the Company's named executive officers and
ratified the appointment of Accuity LLP as the Company's
independent registered public accounting firm for the fiscal year
2015.

                  About Maui Land & Pineapple Co.

Maui Land & Pineapple Company, Inc. (NYSE: MLP) --
http://mauiland.com/-- develops, sells, and manages residential,  

resort, commercial, and industrial real estate.  The Company owns
approximately 23,000 acres of land on Maui and operates retail,
utility operations, and a nature preserve at the Kapalua Resort.
The Company's principal subsidiary is Kapalua Land Company, Ltd.,
the operator and developer of Kapalua Resort, a master-planned
community in West Maui.

Maui Land reported net income of $17.6 million on $33 million of
total operating revenues for the year ended Dec. 31, 2014, compared
with a net loss of $1.16 million on $15.2 million of total
operating revenues in 2013.

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

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


MCCLATCHY CO: Incurs $11.3 Million Operating Loss in First Quarter
------------------------------------------------------------------
The McClatchy Company said the net loss from continuing operations
in the first quarter of 2015 was $11.3 million, or $0.13 per share
compared to a net loss from continuing operations of $16.1 million,
or $0.19 per share, in the first quarter of 2014.  The net loss in
the first quarter of 2014, including the impact of discontinued
operations, was $15.8 million, or $0.18 per share.

The net loss from continuing operations on an adjusted basis in the
first quarter of 2015, excluding certain items, was $8.7 million
compared to a net loss from continuing operations in the first
quarter of 2014, adjusted for similar items, of $6.1 million.

In 2014 the company began reporting the wholesale fees paid for
certain third-party digital products and services as a reduction of
the associated revenues (rather than being recorded as expense).
This has no impact on the company's operating income, operating
cash flows or earnings.  The most significant of these digital
agreements related to Cars.com.  Reported results relating to the
company's sales of Cars.com products are impacted by the execution
of a new affiliate agreement with Cars.com on Oct.1, 2014.  Under
the new affiliate agreement, the wholesale fees increased, and as a
result, net revenues (gross revenues net of wholesale fees) from
the sales of Cars.com products in the first three quarters of 2015
are not comparable to net revenues in the first three quarters of
2014.

Pat Talamantes, McClatchy's president and CEO, said, "Our revenues
in the first quarter were impacted by the continued decline in
print retail and national advertising, particularly among large
advertisers.  To help offset advertising trends, we are undertaking
a number of initiatives that involve incremental expense at the
start of the projects, but which should be more than offset by cash
flow benefits in the future.  The first quarter is our seasonally
lowest quarter for revenues, which magnified the impact of those
expenses on our bottom line.  Still, even with those incremental
costs, our expense performance improved compared to recent quarters
and as we expected, our debt reduction last November enabled us to
reduce interest costs by $11 million in the first quarter.

"On a gross basis, digital-only advertising revenues grew again
this quarter.  For the first quarter of 2015, total digital-only
advertising revenues reported on a gross basis and excluding the
impact of selling Apartments.com in April of 2014, grew 4.4% and
audience revenues were up 4.8% compared to the same quarter last
year.  Together with direct marketing and other non-traditional
sources, these revenue categories, which exclude print newspaper
advertising, accounted for 67.2% of our total revenues in the
quarter compared to 62.6% in the first quarter of 2014, and grew
1.1% in the 2015 quarter."

Strategic Initiatives

Talamantes continued, "We expect the numerous strategies on which
we've embarked to improve digital, direct marketing and audience
revenues, to enhance our content offerings across all platforms and
to significantly reduce legacy costs associated with our print
products.  Revenue initiatives include adding resources to our
digital sales team, revamping our sales forces and growing our
impressLOCAL product to provide agency services to small and
medium-sized advertisers in our markets.  We also are realigning
and improving our content delivery on all platforms, from the
printed newspaper to our websites and mobile apps.  And we are
greatly expanding our resources in video to improve story-telling
and generate additional advertising revenues from that fast-growing
market.  Our cost initiatives are focused on reducing legacy costs,
primarily in production and distribution, including substantial
savings in newsprint costs.

"We expect to achieve $25 million to $30 million of cost savings in
2015 from these specific initiatives, a portion of which helped us
in the first quarter." Talamantes concluded, "We expect the savings
to build over the course of the year.  Also, in light of weaker
print advertising revenues this year, individual newspapers are
adopting additional cost reduction plans to achieve their budgets.
We expect to have another challenging quarter in the second quarter
before cash flow flattens in the second half of 2015."

Limited Share Repurchase Program

Today McClatchy announced that its Board of Directors had
authorized a new limited share repurchase program for the
repurchase of up to $7.0 million of its Class A common stock
through Dec. 31, 2016.  The repurchases are intended to mitigate
the dilutive impact of issuing Class A stock under McClatchy's
equity compensation plans.  The shares will be repurchased from
time to time depending on prevailing market prices, availability,
and market conditions, among other things.

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

                        http://is.gd/WrvHrd

                    About The McClatchy Company

Sacramento, Cal.-based The McClatchy Company (NYSE: MNI)
-- http://www.mcclatchy.com/-- is a media company that provides
both print and digital news and advertising services.  Its
operations include 30 daily newspapers, community newspapers,
websites, mobile news and advertising, niche publications, direct
marketing and direct mail services.  Its owned newspapers include,
among others, the (Fort Worth) Star-Telegram, The Sacramento Bee,
The Kansas City Star, the Miami Herald, The Charlotte Observer, and
The (Raleigh) News & Observer.  The Company holds interest in
digital assets which include CareerBuilder, LLC, Classified
Ventures, LLC, HomeFinder, LLC, and Wanderful Media.

McClatchy Co reported net income of $374 million on $1.14 billion
of net revenues for the year ended Dec. 28, 2014, compared with net
income of $18.8 million on $1.21 billion of net revenues for the
year ended Dec. 29, 2013.

As of Dec. 28, 2014, the Company had $2.55 billion in total assets,
$2.05 billion in total liabilities and $503.38 million in
stockholders' equity.

                           *     *     *

McClatchy carries a 'Caa1' corporate family rating from Moody's
Investors Service.  In May 2011, Moody's changed the rating
outlook from stable to positive following the company's
announcement that it closed on the sale of land in Miami for
$236 million.  The outlook change reflects Moody's expectation
that McClatchy will utilize the net proceeds to reduce debt,
including its underfunded pension position, which will reduce
leverage by approximately half a turn and lower required
contributions to the pension plan over the next few years.

As reported by the TCR on April 2, 2014, Standard & Poor's Ratings
Services affirmed all ratings on U.S. newspaper company The
McClatchy Co., including the 'B-' corporate credit rating, and
revised the rating outlook to stable from positive.  The outlook
revision to stable reflects S&P's expectation that the
timeframe for a potential upgrade lies beyond the next 12 months,
and could also depend on the company realizing value from its
digital minority interests.


MEDICURE INC: Expanded Dosing Time For AGGRASTAT Approved
---------------------------------------------------------
Medicure Inc. announced that the United States Food and Drug
Administration has approved a revision to the duration of the bolus
delivery for the AGGRASTAT (tirofiban HCl) high-dose bolus
regimen.

The dosing change and label modification was requested by the
Company to help health care professionals more efficiently meet
patient-specific administration needs and to optimize the
implementation of AGGRASTAT at new hospitals.  The newly approved
labeling supplement now allows the delivery duration of the
AGGRASTAT high-dose bolus (25 mcg/kg) to occur anytime within 5
minutes, instead of the previously specified duration of 3 minutes.
This change is part of Medicure's ongoing regulatory strategy to
expand the applications for AGGRASTAT.

"We believe the revised dosing time window will offer health care
professionals greater flexibility in the administration of
AGGRASTAT, allowing the duration of the bolus dose to be tailored
to the needs of the patient," stated Dawson Reimer, president and
chief operating officer, Medicure Inc.  "As AGGRASTAT utilization
continues to expand across the United States, the label
modification is part of our strategy to best position our product
in the evolving field of interventional cardiology."

The AGGRASTAT HDB regimen was originally approved by the FDA in
October 2013 as a part of the Company's supplemental New Drug
Application (sNDA).  The total bolus dose (25 mcg/kg), maintenance
infusion (0.15 mcg/kg/min) and indication for AGGRASTAT have not
been modified as a part of the labeling supplement.  With the FDA
approval letter announced today, the infusion duration for delivery
of the bolus in the AGGRASTAT prescribing information has been
changed from "over 3 minutes" to "within 5 minutes".

                        About Medicure Inc.

Medicure -- http://www.medicure.com/-- is a specialty
pharmaceutical company focused on the development and
commercialization of therapeutics for the U.S. hospital market.
The primary focus of the Company and its subsidiaries is the
marketing and distribution of AGGRASTAT (tirofiban HCl) for non-ST
elevation acute coronary syndrome in the United States, where it is
sold through the Company's U.S. subsidiary, Medicure Pharma, Inc.

The Company disclosed net income of C$1.19 million on C$5.26
million of net product sales for the seven months ended Dec. 31,
2014.  The Company previously reported a net loss of C$1.93 million
on C$5.05 million of net product sales for the year ended May 31,
2014.

As of Dec. 31, 2014, Medicure had C$6.56 million in total assets,
C$10.5 million in total liabilities and a C$3.91 million total
deficiency.

Ernst & Young LLP, in Winnipeg, Canada, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that Medicure Inc. has experienced
losses and has accumulated a deficit of C$127 million since
incorporation and has a working capital deficiency of C$503,000 as
at Dec. 31, 2014.  These conditions raise substantial doubt about
its ability to continue as a going concern.


MEDICURE INC: To Present at 2015 Bloom Burton Conference
--------------------------------------------------------
Medicure Inc.'s President and Chief Operating Officer, Dawson
Reimer, will present an overview of the Company at the 2015 Bloom
Burton & Co. Healthcare Investor Conference at the Sheraton Centre
Toronto Hotel on May 5, 2015, at 11:30 a.m. Eastern Time.

The Bloom Burton & Co. Healthcare Investor Conference brings
together U.S., Canadian and international investors who are
interested in the latest developments in the Canadian healthcare
sector.  Attendees will have an opportunity to obtain corporate
updates from the premier Canadian publicly traded and private
companies through presentations and private meetings.

                        About Medicure Inc.

Medicure -- http://www.medicure.com/-- is a specialty
pharmaceutical company focused on the development and
commercialization of therapeutics for the U.S. hospital market.
The primary focus of the Company and its subsidiaries is the
marketing and distribution of AGGRASTAT (tirofiban HCl) for non-ST
elevation acute coronary syndrome in the United States, where it is
sold through the Company's U.S. subsidiary, Medicure Pharma, Inc.

The Company disclosed net income of C$1.19 million on C$5.26
million of net product sales for the seven months ended Dec. 31,
2014.  The Company reported a net loss of C$1.93 million on C$5.05
million of net product sales for the year ended May 31, 2014.

As of Dec. 31, 2014, Medicure had C$6.56 million in total assets,
C$10.5 million in total liabilities and a C$3.91 million total
deficiency.

Ernst & Young LLP, in Winnipeg, Canada, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that Medicure Inc. has experienced
losses and has accumulated a deficit of C$127 million since
incorporation and has a working capital deficiency of C$503,000 as
at Dec. 31, 2014.  These conditions raise substantial doubt about
its ability to continue as a going concern.


MERIDIAN-PACIFIC HWY: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: Meridian-Pacific Hwy LLC
        PO BOX 31548
        Bellingham, WA 98828-3548

Case No.: 15-12515

Chapter 11 Petition Date: April 23, 2015

Court: United States Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Hon. Marc Barreca

Debtor's Counsel: Charles R Steinberg, Esq.
                  STEINBERG LAW FIRM PS
                  323 N Miller Street
                  Wenatchee, WA 98801
                  Tel: 509-662-3202
                  Email: steinbergc@me.com

Total Assets: $3.5 million

Total Liabilities: $1.9 million

The petition was signed by David Ebenal, member.

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


METALICO INC: Amends 4.9 Million Shares Resale Prospectus
---------------------------------------------------------
Metalico, Inc. filed a post-effective amendment to its registration
statement with the Securities and Exchange Commission to update the
financial and other information.

The prospectus relates to the resale or other disposition by TPG
Specialty Lending, Inc. of up to an aggregate of 4,953,190 shares
of the Company's common stock, $.001 par value per share, which
represents 130% of the maximum number of shares of common stock
currently underlying certain warrants issued to the selling
stockholder.

The Company is not selling any shares of its common stock under
this prospectus and will not receive any proceeds from the sale or
other disposition of shares by TPG.

The Company's common stock is listed on NYSE MKT under the symbol
"MEA."  On April 21, 2015, the last reported sale price of the
Company's common stock on the American Stock Exchange was $0.38 per
share.

A copy of the amended prospectus is available for free at:

                        http://is.gd/3h446c

                           About Metalico

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

Metalico reported a net loss attributable to the Company of $44.4
million on $476 million of revenue for the year ended Dec. 31,
2014, compared with a net loss attributable to the Company of $34.8
million on $457 million of revenue for the year ended
Dec. 31, 2013.

CohnReznick LLP, in Roseland, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company anticipates that it
will not meet the maximum Leverage Ratio covenant as prescribed by
the Financing Agreement for the quarter ended March 31, 2015, and
there can be no assurance that the Company can resolve any
noncompliance with their lenders.  As a result, the Company's debt
could be declared immediately due and payable which would result in
the Company having insufficient liquidity to pay its debt
obligations and operate its business.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


MGM RESORTS: Regulators OK Transfer of Gaming License to JETT
-------------------------------------------------------------
Richard N. Velotta at Casinocitytimes.com reports that the Nevada
Gaming Commission has approved the transfer of a gaming license
from MGM Resorts International to JETT Gaming, a slot machine route
created in 2009 and owned by Terrible Herbst CEO Jerry Herbst and
his son, Tim Herbst.  According to the report, the Board authorized
the sale of the 300-room Gold Strike in Jean, Clark County, Nevada,
to the Herbst family.

                         About MGM Resorts

MGM Resorts International (NYSE: MGM) a global hospitality
company, operating a portfolio of destination resort brands
including Bellagio, MGM Grand, Mandalay Bay and The Mirage.  The
Company also owns 51% of MGM China Holdings Limited, which owns
the MGM Macau resort and casino and is in the process of
developing a gaming resort in Cotai, and 50% of CityCenter in Las
Vegas, which features ARIA resort and casino.  For more
information about MGM Resorts International, visit the Company's
Web site at http://www.mgmresorts.com/

MGM Resorts reported a net loss attributable to the Company of
$157 million in 2013 following a net loss attributable to the
Company of $1.76 billion in 2012.

                         Bankruptcy Warning

The Company stated in its 2013 Annual Report, "The agreements
governing our senior secured credit facility and other senior
indebtedness contain restrictions and limitations that could
significantly affect our ability to operate our business, as well
as significantly affect our liquidity, and therefore could
adversely affect our results of operations.  Covenants governing
our senior secured credit facility and certain of our debt
securities restrict, among other things, our ability to:

   * pay dividends or distributions, repurchase or issue equity,
     prepay certain debt or make certain investments;

   * incur additional debt;

   * incur liens on assets;

   * sell assets or consolidate with another company or sell all
     or substantially all assets;

   * enter into transactions with affiliates;

   * allow certain subsidiaries to transfer assets; and

   * enter into sale and lease-back transactions.

Our ability to comply with these provisions may be affected by
events beyond our control.  The breach of any such covenants or
obligations not otherwise waived or cured could result in a
default under the applicable debt obligations and could trigger
acceleration of those obligations, which in turn could trigger
cross defaults under other agreements governing our long-term
indebtedness.  Any default under our senior secured credit
facility or the indentures governing our other debt could
adversely affect our growth, our financial condition, our results
of operations and our ability to make payments on our debt, and
could force us to seek protection under the bankruptcy laws."

                           *     *     *

As reported by the TCR on Nov. 14, 2011, Standard & Poor's Ratings
Services raised its corporate credit rating on MGM Resorts
International to 'B-' from 'CCC+'.   In March 2012, S&P revised
the outlook to positive from stable.

"The revision of our rating outlook to positive reflects strong
performance in 2011 and our expectation that MGM will continue to
benefit from the improving performance trends on the Las Vegas
Strip," S&P said.

In March 2012, Moody's Investors Service affirmed its B2 corporate
family rating and probability of default rating.  The affirmation
of MGM's B2 Corporate Family Rating reflects Moody's view that
positive lodging trends in Las Vegas will continue through 2012
which will help improve MGM's leverage and coverage metrics,
albeit modestly. Additionally, the company's declaration of a $400
million dividend ($204 million to MGM) from its 51% owned Macau
joint venture due to be paid shortly will also improve the
company's liquidity profile. The ratings also consider MGM's
recent bank amendment that resulted in about 50% of its
$3.5 billion senior credit facility being extended one year from
2014 to 2015.

As reported by the TCR on Sept. 29, 2014, Fitch Ratings has
upgraded MGM Resorts International's (MGM) and MGM China Holdings
Ltd's (MGM China) IDRs to 'B+' from 'B' and 'BB' from 'BB-',
respectively.  Fitch's upgrade of MGM's IDR to 'B+' and the
Positive Outlook reflect the company's strong performance on the
Las Vegas Strip and in Macau as well as Fitch's longer-term
positive outlooks for these markets.


MISSION NEWENERGY: Has A$3.95-Mil. Cash at March 31
---------------------------------------------------
Mission New Energy Limited filed with the Securities and Exchange
Commission its quarterly report for entities admitted on the basis
of commitments for the quarter ended March 31, 2015.  At the
beginning of the quarter, the Company had A$1.18 million in cash.
Its cash increased by A$2.33 million during the quarter, and as a
result, the Company had A$3.95 million in cash at March 31, 2014.
A copy of the Quarterly Report is available for free at:
  
                       http://is.gd/gu79G9

                      About Mission NewEnergy

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

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

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

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

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

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


MJ ACQUISITION: Moody's Assigns 'B2' Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service assigned a B2 Corporate Family Rating and
a B2-PD Probability of Default Rating to MJ Acquisition
Corporation, the joint venture formed by Select Medical Corporation
(Select Medical) and Welsh, Carson, Anderson & Stowe to complete
the acquisition of Concentra Inc. (Concentra) from Humana. Moody's
also assigned a Ba3 rating to the company's first lien senior
secured credit facility and a Caa1 rating to its second lien senior
secured term loan. The rating outlook is stable.

The proceeds of the debt offerings along with $435 million of
contributions from the equity partners will be used to fund the
$1.055 billion acquisition of Concentra from Humana. Moody's
expects MJ Acquisition Corporation will be merged into Concentra
Inc. in conjunction with the transaction and that Concentra Inc.
will be the surviving borrower.

Following is a summary of ratings assigned to MJ Acquisition
Corporation.

  -- Corporate Family Rating at B2

  -- Probability of Default Rating at B2-PD

  -- $50 million First lien senior secured revolver at
     Ba3 (LGD 3)

  -- $450 million First lien senior secured term loan at
     Ba3 (LGD 3)

  -- $200 million Second lien senior secured term loan at Caa1
     (LGD 5)

  -- The rating outlook is stable.

The B2 Corporate Family Rating reflects the considerable leverage
of the company following its separation from Humana. Moody's
estimates the debt to EBITDA prior to synergies would have been
about 6.8 times at December 31, 2014. While Moody's expects
improvement in credit metrics, much of that improvement is reliant
on the realization of synergies associated with the ability to
effectively leverage the administrative functions of Select Medical
in managing the Concentra operations. Further, Moody's expects
improvement in free cash flow generation from a reduction in
capital spending at Concentra because of elevated spending levels
in prior periods. Moody's expects that debt to EBITDA will decline
to below 6.0 times within 18-24 months of the transaction. The
rating is supported by the company's good geographic
diversification, limiting exposure to workers compensation rules in
any one state, a diverse customer base consisting of a number of
large corporations, and limited exposure to Medicare and Medicaid
programs as a source of revenue.

Concentra will have a good liquidity position supported by an
undrawn $50 million revolver expiring in 2020. Cash and projected
free cash flow in the 12 months following the acquisition will be
modest because of spending necessary to achieve the planned
synergies, but should improve meaningfully thereafter. There is no
financial maintenance covenant on the term loan, and Moody's does
not expect revolver draws to exceed 30% of the facility, which
would trigger the springing maximum first-lien net leverage ratio
covenant requirement.

The stable rating outlook reflects Moody's expectation that the
company will continue to see modest organic growth at existing
centers, through both increased volume and pricing, and that credit
metrics will improve. Moody's expects that a more concentrated
focus on occupational health will allow the company to reduce
capital spending that had been incurred in order to position a
number of the company's centers as urgent care providers. Further,
the outlook reflects Moody's expectation that cash generated at the
company will be used to either repay debt or reinvest in the
business and not be distributed to the joint venture owners.

The ratings could be upgraded if the company can successfully
transition to the services of Select and realize expected synergies
and related margin expansion. Additionally, leverage would have to
be reduced, either through debt repayment or EBITDA growth, such
that debt to EBITDA were expected to be sustained below 4.5 times.

The ratings could be downgraded if the company were to increase
leverage, either through a debt financed acquisition or
distribution to its joint venture partners. The rating could also
be downgraded if liquidity were to weaken or if there was
disruption caused by the separation of the company from Humana that
had a meaningful negative impact on operating results and credit
metrics. More specifically, if debt to EBITDA were expected to
remain above 6.0 times, the ratings could be downgraded.

The principal methodology used in these ratings was Global
Healthcare Service Providers 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.

MJ Acquisition Corporation is the direct parent of Concentra Inc.,
which is a provider of occupational and consumer healthcare
services, including workers' compensation injury care, physical
exams and drug testing for employers, and wellness and preventative
care in approximately 300 centers across the US and 174 clinics at
employer locations. The company also provides outpatient services
to veterans in 34 community based outpatient clinics. Concentra
recognized revenue of $998 million in the year ended December 31,
2014.


MOTORS LIQUIDATION: Trust Reveals No Distribution of Units in Q1
----------------------------------------------------------------
The GUC Trust Administrator filed on April 22, 2015, a GUC Trust
Report required by Section 6.2(c) of the GUC Trust Agreement
together with the Budget Variance Report, each for the fiscal
quarter ended March 31, 2015.  In addition, the Motors Liquidation
Company GUC Trust announced that no distribution in respect of its
Units (as such term is defined in the GUC Trust Agreement) is
anticipated for the fiscal quarter ended March 31, 2015.

Pursuant to the Amended and Restated Motors Liquidation Company GUC
Trust Agreement dated as of June 11, 2012, and between the parties
thereto, as amended, Wilmington Trust Company, acting solely in its
capacity as trust administrator and trustee of the Motors
Liquidation Company GUC Trust, is required to file certain GUC
Trust Reports with the Bankruptcy Court for the Southern District
of New York.  In addition, pursuant to that certain Bankruptcy
Court Order Authorizing the GUC Trust Administrator to Liquidate
New GM Securities for the Purpose of Funding Fees, Costs and
Expenses of the GUC Trust and the Avoidance Action Trust, dated
March 8, 2012, the GUC Trust Administrator is required to file
certain quarterly variance reports as described in the third
sentence of Section 6.4 of the GUC Trust Agreement with the
Bankruptcy Court.

A copy of the Quarterly Section 6.2(C) Report and Budget Variance
Report as of March 31, 2015, is available at http://is.gd/xsmF3X

                      About Motors Liquidation

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.


NET ELEMENT: Beno Distribution Reports 9.6% Stake as of April 13
----------------------------------------------------------------
Nurlan Abduov and Beno Distribution, Ltd. disclosed in an amended
Schedule 13D filed with the Securities and Exchange Commission that
as of April 13, 2015, they beneficially own 4,538,737 shares of
common stock of Net Element, Inc., which represents 9.6 percent of
47,460,032, which was the number of the outstanding shares of
Common Stock as of March 30, 2015.

On April 13, 2015, K1 Holding Limited sold 2,518,688 of its shares
of Common Stock in the Company to Mayor Trans Ltd., a company
incorporated in the Republic of Seychelles, for $2.00 per share. As
a result, K 1 Holding Limited no longer owns any shares of Common
Stock of Net Element.

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

                         http://is.gd/QuVGch

                          About Net Element

Miami, Fla.-based Net Element International, Inc., formerly Net
Element, Inc., currently operates several online media Web sites
in the film, auto racing and emerging music talent markets.

Net Element reported a net loss of $10.18 million on $21.2
million of net revenues for the 12 months ended Dec. 31, 2014,
compared to a net loss of $48.3 million on $18.7 million of net
revenues for the 12 months ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $14.32 million in total
assets, $8.83 million in total liabilities, and $5.48 million in
total stockholders' equity.

BDO USA, LLP, in Miami, Florida, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered recurring losses from operations and has
used substantial amounts of cash to fund its operating activities
that raise substantial doubt about its ability to continue as a
going concern.


NNN PARKWAY: Court Enters Amended Dismissal Order
-------------------------------------------------
The U.S. Bankruptcy Court entered an amended order dismissing the
Chapter 11 cases of NNN Parkway 400 26, LLC, et al., at the behest
of the U.S. Trustee.

The Court ruled that judgments for unpaid U.S. Trustee quarterly
fees are:

NNN Parkway 400 26, LLC               $324
NNN Parkway 400 2, LLC                $976
NNN Parkway 400 3, LLC              $1,952
NNN Parkway 400 4, LLC                $976
NNN Parkway 400 5, LLC                $976
NNN Parkway 400 6, LLC                $976
NNN Parkway 400 7, LLC                $976
NNN Parkway 400 8, LLC                $976
NNN Parkway 400 9, LLC                $976
NNN Parkway 400 11, LLC               $976
NNN Parkway 400 12, LLC               $976
NNN Parkway 400 13, LLC               $976
NNN Parkway 400 14, LLC               $976
NNN Parkway 400 15, LLC               $976
NNN Parkway 400 16, LLC               $976
NNN Parkway 400 17, LLC               $976
NNN Parkway 400 18, LLC               $976
NNN Parkway 400 19, LLC               $976
NNN Parkway 400 20, LLC               $976
NNN Parkway 400 22, LLC               $976
NNN Parkway 400 23, LLC               $976
NNN Parkway 400 25, LLC               $976
NNN Parkway 400 28, LLC               $976
NNN Parkway 400 29, LLC               $976
NNN Parkway 400 30, LLC               $976
NNN Parkway 400 31, LLC               $976
NNN Parkway 400 35, LLC               $976
NNN Parkway 400 32, LLC               $976
NNN Parkway 400 33, LLC               $976
NNN Parkway 400 10, LLC               $976
NNN Parkway 400, 15 LLC               $976
NNN Parkway 400, 16 LLC               $976
NNN Parkway 400, 17 LLC               $976
NNN Parkway 400, 18 LLC               $977
NNN Parkway 400, 19 LLC               $976
NNN Parkway 400, 20 LLC               $976
NNN Parkway 400 22, LLC               $976
NNN Parkway 400 23, LLC               $976
NNN Parkway 400 25, LLC               $976
NNN Parkway 400 28, LLC               $976
NNN Parkway 400 29, LLC               $976
NNN Parkway 400 30, LLC               $976
NNN Parkway 400 31, LLC               $976
NNN Parkway 400 35, LLC               $976
NNN Parkway 400 32, LLC               $976
NNN Parkway 400 33, LLC               $976
NNN Parkway 400 10, LLC               $976
NNN Parkway 400 14, LLC             $1,625

The Court will retain jurisdiction to consider:

   a) allowance of final applications for compensation brought
pursuant to Sections 330 and 331 of the Bankruptcy Code; and

   b) determination of whether any cash collateral proceeds of
WBCMT 2007-C31 Amberpark Office Limited Partnership must be
surcharged pursuant to Section 506(c) of the Bankruptcy Code.

                   About NNN Parkway 400 26 LLC

NNN Parkway 400 26, LLC, filed a bare-bones Chapter 11 petition
(Bankr. C.D. Calif. Case No. 12-24593) in Santa Ana, California,
on Dec. 31, 2012.  Dana Point, California-based NNN Parkway
estimated assets and debts of $10 million to $50 million.  The
Hon. Judge Theodor Albert presides over the case.  The Law
Office of Christine E. Baur, and David A. Lee, Esq., at Weiland,
Golden, Smiley, Wang Ekvall & Strok, LLP, represent the Debtor.

Prepetition, the Debtors retained HighPoint Management Solutions,
LLC, a bankruptcy consulting company, as a manager of the Debtors,
and HighPoint's President, Mr. Mubeen Aliniazee, as the Debtors'
Restructuring Officer, to assist the Debtors in their compliance
with the Chapter 11 bankruptcy process.

The Debtors' primary asset is a commercial real property commonly
known as Parkway 400, which is a two-building office campus
totaling approximately 193,281 square feet located at 11720 Amber
Park Drive and 11800 Amber Park Drive, Alpharetta, Georgia.  The
Debtors hold a concurrent ownership interest in the Property with
other tenant-in-common investors and the sponsor, NNN Parkway 400,
LLC.

In January 2014, Judge Albert issued an Amended Memorandum of
Decision denying confirmation of the Chapter 11 plan of NNN
Parkway 400 26 LLC and its 30 debtor affiliates, and granting the
lender relief from the automatic stay.  A copy of Judge Albert's
Jan. 28, 2014 Amended Memorandum of Decision is available at
http://is.gd/36UOTofrom Leagle.com.



NOBEL GROUP: Complaint v. Cathay Bank Dismissed
-----------------------------------------------
Bankruptcy Judge Arthur S. Weissbrodt dismissed the complaint,
NOBEL GROUP, INC., Plaintiff, v. CATHAY BANK, Defendant, NO.
10-55902-ASW, ADV. PRO. NO. 14-05100-ASW, at the behest of
Defendant Cathay Bank, for lack of subject matter jurisdiction.

Judge Weissbrodt, in his April 6, 2015 Memorandum Decision RE:
Defendant's Motion to Dismiss, held that under the close nexus
test, the Court lacked jurisdiction over the claims in the
adversary proceeding. As the Court had no discretion in the matter,
it need not address the Bank's remaining arguments. The Bank's
counsel was permitted to submit a proposed form of order dismissing
the adversary proceeding.

The complaint contains three claims: breach of contract,
declaratory relief, and objection to claim based on the Bank's
charging of approximately $250,000 of default interest on the debt
owed to it from November 2009 and August 2011, after the loan had
matured and the Debtor's property in Santa Clara, California, had
been placed into receivership, and before the Bank had obtained an
order in the bankruptcy case granting relief from stay.

A copy of Judge Weissbrodt's Memorandum Decision RE: Defendant's
Motion to Dismiss is available at http://bit.ly/1Evrcf6from
Leagle.com.

Nobel Group, Inc., based in Cupertino, California, filed for
Chapter 11 bankruptcy (Bankr. N.D. Cal. Case No. 10-55902) on June
6, 2010.  Judge Arthur S. Weissbrodt oversees the case.  Wayne A.
Silver, Esq., at Law Offices of Wayne A. Silver, served as
bankruptcy counsel to Nobel Group.  In its petition, Nobel Group
estimated $1 million to $10 million in both assets and debts.  The
petition was signed by Gregory T. Malley, company's president.
Nobel Group's Chapter 11 Plan was confirmed on February 4, 2014.


NYMOX PHARMA: Incurs $4.59-Mil. Net Loss in 2014
------------------------------------------------
Nymox Pharmaceutical Corporation filed with the U.S. Securities and
Exchange Commission its annual report on Form 20-F for the year
ended Dec. 31, 2014.

KPMG LLP expressed substantial doubt about the Company's ability to
continue as a going concern, citing that the failure of two U.S.
Phase 3 studies of NX-1207 materially affects Nymox Pharmaceutical
Corporation's current ability to fund its operations, meet its cash
flow requirements, realize its assets and discharge its
obligations.

The Company reported a net loss of $4.59 million on $2.95 million
of revenues for the year ended Dec. 31, 2014, compared with a net
loss of $4.91 million on $3.36 million of revenues in 2013.

The Company's balance sheet at Dec. 31, 2014, showed $1.42 million
in total assets, $5.6 million in total liabilities and total
stockholders' deficit of $4.18 million.

A copy of the Form 20-F is available at:
                              
                       http://is.gd/uRLxGM
                          
Nymox Pharmaceutical Corp. is a biopharmaceutical company, which
specializes in the research and development of products for the
aging population.  Currently, it markets NicAlertTM and
TobacAlertTM, tests that use urine or saliva to detect use of
tobacco products.  The company develops NX-1207, a novel treatment
for benign prostatic hyperplasia, which is in Phase 3 clinical
trials.  It also has pipeline drug candidates aimed at the causes
of Alzheimer's disease and new treatments of bacterial infections
in humans.  Nymox Pharmaceutical was founded by Paul Averback on
May 30, 1995 and is headquartered in St.-Laurent, Canada.


PACIFIC DRILLING: Bank Debt Trades at 13% Off
---------------------------------------------
Participations in a syndicated loan under which Pacific Drilling
Ltd is a borrower traded in the secondary market at 87.55
cents-on-the-dollar during the week ended Friday, April 24, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 2.25 percentage points from the previous week, The Journal
relates. The Company pays 350 basis points above LIBOR to borrow
under the facility.  The bank loan matures on May 15, 2018, and
carries Moody's B1 rating and Standard & Poor's B+ rating.  The
loan is one of the biggest gainers and losers among 243 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



PACIFIC STEEL: Court to Take Up Plan Outline at April 28 Hearing
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of California
will hold a hearing April 28, 2015, to consider the outlines of the
Chapter 11 plan proposed by Second Street Properties and Berkeley
Properties LLC to exit bankruptcy protection.

The companies, together with the unsecured creditors' committee,
filed a restructuring plan on March 16, which proposes to replace
their management with a new one to continue their business of
owning and leasing real properties in Berkeley, California, to the
buyer of their former steel casting business.

Under the proposed plan, secured creditors will either receive cash
payment or the properties securing their claims will be returned to
them by the companies.

General unsecured creditors will receive a pro rata share of
so-called "initial distributable cash," which is cash held by the
companies as of March 10, 2014; cash realized from the sale of
assets prior to the effective date of the plan; interest earned on
invested funds; and recoveries from causes of action.   

CraneTech Inc., which is facing a case filed by Berkeley, will
receive one of the alternative forms of treatment as a secured
claim if it obtains a final order in the case providing that some
or all of its claims are secured claims.  Otherwise, those claims
will be treated as general unsecured claims against Second Street.

Meanwhile, the claim of CMTA–GMPP & Allied Workers Local 164B
Pension Trust won't be paid in cash.  Instead, CMTA–GMPP will
receive a deed of trust encumbering the real property owned by
Berkeley.

The companies have not yet reached an agreement with CMTA–GMPP on
the terms of the deed of trust, which is one of the concerns raised
by CMTA–GMPP in an April 21 objection it filed with the court.

Holders of interests in Second Street will receive new interests in
the reorganized company while holders of interests in Berkeley will
retain them, which will be governed by a new operating agreement.

Until general unsecured creditors are paid in full, the companies'
businesses and their obligations under the plan will be run
primarily by a plan administrator.  

If the administrator is an individual, he will be the sole officer
and one of the three directors of Second Street.  The other two
directors will be selected by the administrator.

Meanwhile, if the administrator is a corporate entity, it will
select one of its members, officers, employees or agents to be the
sole officer and one of three directors of the company.  It will
also select the other two directors.

The plan administrator will be subject to the oversight of a
committee, which is comprised of members of the unsecured
creditors' committee who choose to serve on the panel, according to
court filings.

A copy of the latest plan outline is available for free at
http://is.gd/jYg4t8

                     Solicitation Procedures

The bankruptcy court will also consider at the April 28 hearing the
procedures proposed by the companies for soliciting votes for their
plan.

The companies will begin the solicitation of votes by no later than
five business days following approval of the procedures.  

The proposed procedures set a June 15 deadline for creditors to
cast their votes on the plan, and a voting record date of April
28.

Epiq Bankruptcy Solutions Inc. will serve as the solicitation,
balloting, and tabulation agent, according to court filings.

The companies also asked the court to hold a hearing on June 30 to
consider confirmation of the plan, and set a June 19 deadline for
filing objections to the plan.

                     About Pacific Steel Casting,
                         Berkeley Properties

Pacific Steel Casting Company and Berkeley Properties, LLC,
separately filed Chapter 11 bankruptcy petitions (Bankr. N.D. Cal.
Case Nos. 14-41045 and 14-41048) on March 10, 2014.  Pacific
Steel's petition was signed by Charles H. Bridges, Jr., chief
financial officer and director.  Michael W. Malter, Esq., at Binder
& Malter, LLP serves as the Debtors' counsel.  Epiq Bankruptcy
Solutions, LLC, is the Debtors' claims, noticing and balloting
agent.  Burr Pilger Mayer, a certified public accounting firm,
serves as financial consultants.

Pacific Steel makes carbon, low-alloy and stainless steel castings
for U.S. and international customers, largely for heavy-duty trucks
and construction equipment.

Tracy Hope Davis, the United States Trustee for Region 17,
appointed seven creditors to serve on the Official Committee of
Unsecured Creditors.  The Committee is represented by Ori Katz,
Esq., and Michael M. Lauter, Esq., at Sheppard, Mullin, Richter &
Hampton LLP.

The Debtors in July 2014 won court approval to sell their
fourth-generation family-owned steel foundry for $11.3 million cash
plus assumption of specified liabilities to Speyside Fund LLC.

Bankruptcy Judge Roger L. Efremsky authorized the Debtors to revise
case caption to reflect the name change after the sale of assets.

The case caption now reflects: Second Street Properties, and
Berkeley Properties, LLC.  The Debtors stated that the assets sold
included the trade name "Pacific Steel Casting Company" and the
commonly used abbreviation and trademark "PSC".   The Debtors
agreed with the buyer that the Debtors would stop using that name
immediately after the closing.


PARAGON OFFSHORE: Bank Debt Trades at 27% Off
---------------------------------------------
Participations in a syndicated loan under which Paragon Offshore is
a borrower traded in the secondary market at 73.00
cents-on-the-dollar during the week ended Friday, April 24, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 4.70 percentage points from the previous week, The Journal
relates.  The Company pays 275 basis points above LIBOR to borrow
under the facility.  The bank loan matures on July 14, 2021, and
carries Moody's Ba1 rating and Standard & Poor's BB+ rating.  The
loan is one of the biggest gainers and losers among 243 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



PENTON BUSINESS: New $60MM Loan No Impact on Moody's 'B3' CFR
-------------------------------------------------------------
Moody's Investors Service said that Penton Business Media, Inc., a
subsidiary of Penton Operating Holdings, Inc. (Penton), $60 million
first lien add on term loan will not impact the existing B3
corporate family rating, the B1 first lien credit facility rating,
or the Caa2 second lien rating. The outlook is stable. While the
add on is for $60 million, we anticipate a $20.2 million excess
free cash flow sweep in the near term which will result in only a
$39.8 million increase in debt.

Penton Operating Holdings, Inc. (Penton), headquartered in New
York, NY, is a diversified business-to-business media company
providing trade show, print, and digital products and services.
Penton emerged from Chapter 11 bankruptcy protection in March 2010.
Revenue for the twelve months ended March 31, 2015 was $360
million.


PENTON BUSINESS: S&P Keeps 'B+' Rating on 1st Lien Debt Over Add-On
-------------------------------------------------------------------
Standard & Poor's Ratings Services said that its issue-level rating
on New York City-based business-to-business media company Penton
Business Media Inc.'s senior secured first-lien credit facility
remains 'B+' with a recovery rating of '2', following the company's
announcement that it plans to issue a $60 million add-on to its
senior secured first-lien term loan B due 2019.  The '2' recovery
rating indicates S&P's expectation for substantial (70%-90%; higher
half of the range) recovery of principal in the event of a default.
The issue-level rating on the company's senior secured second-lien
term loan also remains 'CCC+' with a recovery rating of '6'.  The
'6' recovery rating indicates S&P's expectation for negligible (0%
to 10%) recovery in the event of payment default.

The company will use the proceeds from the add-on offering for
general corporate purposes and future acquisitions.  Pro forma for
the debt issuance, lease-adjusted leverage will marginally increase
to about 5.8x from 5.6x as of March 31, 2015.  On
April 28, 2015 the company will make a contractually required
excess cash flow payment of about $20 million, marginally reducing
leverage.

S&P's corporate credit rating on Penton remains 'B' with a stable
outlook, reflecting S&P's expectation that the company will
continue to generate moderate discretionary cash flow, maintain
"adequate" liquidity, and gradually improve debt leverage.

RATINGS LIST

Penton Business Media Inc.
Corporate Credit Rating                   B/Stable/--
  Senior Secured first-lien debt           B+
   Recovery Rating                         2H
  Senior Secured second-lien debt          CCC+
   Recovery Rating                         6



PERKINS & MARIE: Almont Ambulatory v. UnitedHealth Dismissed
------------------------------------------------------------
The United States District Court for the Central District of
California, in the case docketed as Almont Ambulatory Surgery
Center, LLC, et al. v. UnitedHealth Group, Inc., et al., NO.
CV-14-02139-MWF (VBKX), granted the Employer and Plan Defendants'
Omnibus Motion to Dismiss the Plaintiffs' Amended Complaint.

District Judge Michael W. Fitzgerald, in his April 10, 2015 Civil
Minutes-General granted the Omnibus Motion with respect to Count I
and granted leave to amend. Successful amendment requires
allegations that for each plan, the terms of the plan: (1) provide
coverage for each of the procedures at issue in this case; and (2)
dictate that these covered services would be paid according to a
specific reimbursement rate, which must be specified. Plaintiffs
were directed to allege that Defendants failed to give
reimbursement for the covered services provided by Plaintiffs
according to the reimbursement rate provided in the plans. Given
the allegations in the case regarding absence of access to plan
documents, the Court permitted these allegations to be made "on
information and belief."  The Omnibus Motion as to Counts II, III,
V, VI, and VII was granted with leave to amend. The Omnibus Motion
as to Count VIII was granted with leave to amend. The Court held
that "even if Plaintiffs allegedly suffered their own injuries, it
is clear that they are seeking to recover derivatively on behalf of
their assignors in a way that contravenes the holding of
Amalgamated Transit that such derivative UCL actions must be
brought as class actions." The Omnibus Motion as to Count IX was
granted with leave to amend. "To the extent leave to amend is
granted, the Court will issue a subsequent Order (based upon the
recommendations of the parties in the statement they will file on
April 10, 2015) setting a timeline for the filing of a Second
Amended Complaint ("SAC")."

A copy of the Judge Fitzgerald's Civil Minutes-General is available
at http://is.gd/Y2ADsrfrom Leagle.com.

Daron L Tooch -- dtooch@health-law.com -- Hooper Lundy and Bookman
P C, Eric David Chan -- echan@health-law.com -- Hooper Lundy and
Bookman PC & Bryce William Woolley, Hooper Lundy & Bookman PC.,
Attorneys for Plaintiffs Almont Ambulatory Surgery Center LLC, a
California limited liability company, Bakerfield Surgery Institute
LLC, a California limited liability company, Ciro Surgery Center
LLC, a California limited liability company, East Bay Ambulatory
Surgery LLC, a California limited liability company, Modern
Institute of Plastic Surgery & Antiaging Inc, a California
corporation, New Life Surgery Center LLC, a California limited
liability company doing business as Beverly Hills Surgery Center,
Orange Grove Surgery Center LLC, a California limited liability
company, Palmdale Surgery Center LLC, a California limited
liability company, San Diego Ambulatory Surgery Center LLC, a
California limited liability company, San Joaquin Valley Surgery
Center LLC, a California limited liability company, Skin Cancer &
Reconstructive Surgery Specialist of Beverly Hills Inc, a
California corporation, Valencia Ambulatory Surgery Center LLC, a
California limited liability company, and West Hills Surgery Center
LLC, a California limited liability company, Independent Medical
Services Inc, a California corporation.

Bryan Scott Westerfeld -- bwesterfeld@walravenlaw.com -- Walraven
and Westerfeld LLP, Larry A Walraven, Walraven and Westerfeld LLP,
Nicole Elizabeth Wurscher -- nwurscher@walravenlaw.com -- Walraven
and Westerfeld LLP, Stephen P Lucke --lucke.steve@dorsey.com --
Dorsey and Whitney LLP, Andrew J Holly -- holly.andrew@dorsey.com
-- Dorsey and Whitney LLP, Heather M McCann --
mccann.heather@dorsey.com -- Dorsey and Whitney LLP, Kirsten
Schubert -- schubert.kirsten@dorsey.com -- Dorsey and Whitney LLP,
Michelle S Grant -- grant.michelle@dorsey.com -- Dorsey and Whitney
LLP, Rabea Jamal Zayed, Dorsey and Whitney LLP & Timothy E Branson
-- branson.tim@dorsey.com -- Dorsey and Whitney LLP, Attorneys for
Defendants UnitedHealth Group Inc, United HealthCare Services Inc.,
UnitedHealthCare Insurance Company, Defendant, Optuminsight Inc.,
AARP, a District of Columbia corporation, AARP Employees Welfare
Plan, and Accenture LLP, a Delaware limited liability partnership.

                     About Perkins & Marie

Based in Memphis, Tennessee, Perkins & Marie Callender's Inc., fka
The Restaurant Company, is the owner or franchiser of nearly 600
family-dining restaurants, the Perkins Restaurants and Marie
Callender's.  Perkins & Marie and several affiliates filed for
Chapter 11 bankruptcy (Bankr. D. Del. Lead Case No. 11-11795) on
June 13, 2011.  Perkins & Marie disclosed $290 million in assets
and $441 million in debt as of the Chapter 11 filing.

Perkins & Marie's Joint Plan of Reorganization became effective
Nov. 30, 2011.  The Plan gave new stock to holders of senior
unsecured notes owed $204 million and to general unsecured
creditors owed between $20 million or $25 million.

Attorneys at Young, Conaway, Stargatt & Taylor, LLP; and Troutman
Sanders, LLP, represented the Debtors.  Whitby, Santarlasci &
Company was the financial advisor.  Omni Management Group, LLC was
the claims agent.

DIP lender Wells Fargo ws represented by lawyers at Paul,
Hastings, Janofsky & Walker LLP.  Ropes & Gray LLP represented the
Committee of Creditors.


PERSONAL COMMUNICATIONS: Trust's Claims Against DLJ Dismissed
-------------------------------------------------------------
Bankruptcy Judge Alan S. Trust granted the motion filed by DLJ
Investment Partners III L.P., DLJ Investment Partners LP, and IP
III Plan Investor, L.P. seeking the dismissal of several claims
filed against them by Plaintiff Devices Liquidation Trust in the
case docketed as DEVICES LIQUIDATION TRUST, Plaintiff, v.
PINEBRIDGE VANTAGE PARTNERS, L.P., (f/k/a PINEBRIDGE VANTAGE
CAPITAL L.P.), et al., Defendants,CASE NO. 13-74303-AST, ADV. PRO.
NO. 13-8174-AST.

The Court found the Plaintiff had not plausibly plead a claim for
(1) recharacterization of DLJ's Debt Equity; (2) setoff or unjust
enrichment; (3) Breach of Contract; and (4) Disallowance of DLJ's
claims.

Judge Trust granted the DLJ Motion and concluded that since DLJ had
not sought the dismissal of Plaintiff's claim that DLJ's liens does
not encumber Debtor's commercial tort claims, that cause of action
will remain pending as against DLJ. Judge Trust further ordered
that the 2nd, 4th, 5th, 6th and 8th causes of action in the Second
Amended Complaint be dismissed and that DLJ should file a
responsive pleading to the 7th cause of action in the Second
Amended Complaint within 21 days.

A copy of the Judge Trust's April 3, 2015 Decision and Order
Granting Motion to Dismiss of DLJ Investment Partners III, L.P.,
DLJ Investment Partners, L.P., and IP III Plan Investor, L.P., is
available at http://is.gd/yCsJpFfrom Leagle.com.   

                             About PCD

Personal Communications Devices LLC and an affiliate, Personal
Communications Devices Holdings, LLC, filed for Chapter 11
bankruptcy (Bankr. E.D.N.Y. Case No. 13-74303) on Aug. 19, 2013,
in Central Islip, N.Y.  The Debtor disclosed $247,952,684 in
assets and $284,985,134 in liabilities as of the Chapter 11
filing.

PCD -- http://www.pcdphones.com-- was in the business of
providing carriers and manufacturers an array of product life
cycle management services that includes planning and development;
inventory; technical testing; quality control; forward and reverse
logistics; sell-in and sell-thru, marketing & warranty support.

PCD sold its assets to Quality One Wireless LLC for $105 million
in October 2013.  The bankruptcy auction was cancelled as no
competing offers were submitted.

Bankruptcy Judge Alan S. Trust oversees the case.  Attorneys at
Goodwin Procter, LLP and Togut, Segal & Segal, LLP serve as
counsel to the Debtors.  Epiq Bankruptcy Solutions, LLC, is the
claims and notice agent.  BG Strategic Advisors, LLC, is the
financial advisor.  Richter Consulting, Inc., is the investment
banker.

Q1W is advised by Raymond James and Associates, Inc. and Munsch
Hardt Kopf & Harr, P.C.

A three-member official committee of unsecured creditors was
appointed in the Chapter 11 case.  The Committee retained FTI
Consulting, Inc., as financial advisor, and Perkins Coie LLP as
counsel.

PCD obtained confirmation of its Plan of Liquidation on April 11,
2014.  Under the Plan, unsecured creditors were told to expect a
2.8% recovery on $175.8 million in claims.  The sale of PCD's
assets was accompanied by a settlement where the buyer provided
$500,000 for winding down the Chapter 11 case and $3 million
toward expenses of the Chapter 11 process.

                        *     *     *

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


PHYSICAL PROPERTY: Ngai Keung Luk Has 94.5% Stake as of April 21
----------------------------------------------------------------
Pursuant to a binding Regulation S Offshore Stock Purchase
Agreement, dated April 21, 2014, Ngai Keung Luk acquired a total of
61,670,647 shares of Physical Property Holdings Inc., $.001 par
value, in consideration for the cancellation of $61,670 of
indebtedness owed by the Company to Mr. Luk.  The shares were
issued at an effective price of $.001 per share, which the Board of
Directors determined to be good and valuable consideration and fair
to PPYH.  Although this was a non-cash transaction, the source of
the $61,670 loan to the company was cash from Mr. Luk's personal
funds.

The sale resulted in an increase in ownership of Mr. Luk from
23,378,071 shares of common stock (representing 82.52% of the total
number of shares issued and outstanding) to 85,048,718 shares of
common stock (representing 94.5% of the total number of shares
issued and outstanding).  After the sale, Mr. Luk remains in
"control" of the Company within the meaning of the Securities Act
of 1933, as amended.

The shares were issued by the Company's transfer agent bearing a
restrictive legend.  As a result of the issuance, the Company has
90,000,000 issued and outstanding shares of common stock.

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

                       http://is.gd/Np6GXF
  
                    Physical Property Holdings Inc.

The Reporting Person is Mr. Luk, who is the Chairman and Chief
Executive Officer of PPYH. The Reporting Person is the beneficial
owner of 85,048,718 shares of Common Stock in his own name,
representing 94.5% of the issued and outstanding Common Stock of
PPYH.

Physical Property disclosed a net loss and comprehensive loss of
HK$820,000 on HK$1.05 million of rental revenue for the year ended
Dec. 31, 2014, compared with a net loss and comprehensive loss of
HK$459,000 on HK$1.05 million of rental revenue for the year ended
Dec. 31, 2013.  As of Dec. 31, 2014, the Company had HK$9.39
million in total assets, HK$11.7 million in total liabilities, all
current, and a $2.32 million total stockholders' deficit.

Cash and cash equivalent balances for the fiscal years ended Dec.
31, 2014, and Dec. 31, 2013, were HK$63,000 (US$8,000) and
HK$29,000, respectively.

Mazars CPA Limited, in Hong Kong, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company had a negative working
capital as of Dec. 31, 2014, and incurred loss for the year then
ended, which raised substantial doubt about its ability to continue
as a going concern.


PIONEER ENERGY: S&P Affirms 'B+' CCR, Outlook Stable
----------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B+' corporate
credit and issue-level ratings on San Antonio-based Pioneer Energy
Services Corp.  The outlook is stable.  The recovery rating on the
company's senior notes remains '4', indicating average (30% to 50%;
at the upper half of the range) recovery in the case of a payment
default.

"Our revision of the liquidity assessment on Pioneer Energy
Services primarily reflects our expectation of lower EBITDA
generation in 2015 and, as a result, less cushion vis a vis the
leverage covenant governing the company's revolving credit
facility," said Standard & Poor's credit analyst Christine Besset.
"Our revision of the comparable ratings analysis modifier to
neutral from negative reflects our view that the company's credit
profile is in line with 'B+' rated peers," she added.

Pioneer provides contract drilling and oilfield services to
exploration and production (E&P) companies primarily in the U.S.,
with some exposure to the Republic of Colombia.  S&P considers
Pioneer's business risk to be "vulnerable," reflecting its
competitive position in the volatile onshore contract drilling and
oilfield services sector.  S&P views the company's financial
profile as "significant," reflecting S&P's expectation that the
company's currently solid credit ratios will weaken as a result of
lower cash flow generation in light of challenging market
conditions.  Nevertheless, S&P expects Pioneer's core debt ratios
to remain within expectations for the rating category, with funds
from operations (FFO) to debt of about 20% and debt to EBITDA of
about 4x on average over the next three years.  In S&P's view,
Pioneer's liquidity is "adequate."

The stable outlook on Pioneer Energy Services Corp. reflects
Standard & Poor's Ratings Services' assessment that the company
will be able to maintain debt to EBITDA at about 4x and FFO to debt
of about 20% on average over the next three years, despite
challenging market conditions.

S&P would consider a downgrade if the company's operating
performance deteriorates such that leverage exceeds 4x, or FFO to
debt falls below 20%, for a prolonged period of time.  This would
most likely result from steeper than expected decline in market
demand for oilfield services or a longer than expected industry
downturn.

Given current market conditions and our expectation of weakening
credit ratios in the next few quarters, S&P do not anticipate an
upgrade during the next 12 months.  However, S&P could raise the
rating if Pioneer were able to significantly increase its scale and
diversity of operations while keeping FFO to debt below 20%.



PRESSURE BIOSCIENCES: To Issue 3-Mil. Shares Under Incentive Plan
-----------------------------------------------------------------
Pressure Biosciences, Inc., filed with the Securities and Exchange
Commission a Form S-8 registration statement to register 3,000,000
shares of common stock issuable under the Company's 2013 Equity
Incentive Plan.  The proposed maximum aggregate offering price is
$960,000.  A copy of the prospectus is available at:

                        http://is.gd/mfbFix

                     About Pressure Biosciences

Pressure BioSciences, Inc., headquartered in South Easton,
Massachusetts, holds 14 United States and 10 foreign patents
covering multiple applications of pressure cycling technology in
the life sciences field.

Pressure Biosciences reported a net loss applicable to common
shareholders of $6.25 million on $1.37 million of revenue for the
year ended Dec. 31, 2014, compared to a net loss applicable to
common shareholders of $5.24 million on $1.5 million of total
revenue for the year ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $1.74 million in total assets,
$3.8 million in total liabilities and a $2.05 million total
stockholders' deficit.

Marcum LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, noting that the Company has had recurring net
losses and continues to experience negative cash flows from
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern, according to the
regulatory filing.


PRONERVE HOLDINGS: $2.5MM Financing from SpecialtyCare Approved
---------------------------------------------------------------
Judge Kevin J. Carey entered a final order authorizing Pronerve
Holdings, LLC, et al., to obtain DIP financing and use cash
collateral.

The Debtors have arranged $2.5 million of postpetition financing
from SpecialtyCare IOM Services, LLC.  SpecialtyCare is already
owed $43.2 million for funds provided prepetition.  SpecialtyCare
has agreed to provide funding while the Debtors complete a sale
process where SpecialtyCare will open the auction with a credit bid
of $35 million.

The Official Committee of Unsecured Creditors raised objections to
the motion:

    * The time period for the Committee to investigate
SpecialtyCare's liens on prepetition and postpetition collateral is
too short.

    * The requirement that the Committee seek standing to challenge
the Liens is "unreasonable."

    * The $10,000 cap on the Committee's professional fees to
investigate the Liens is too small.

    * The $50,000 budget for the Committee's professional fees, in
general, is too small.

    * The Debtors' waiver of rights under 11 U.S.C. Sec. 552(b) and
the doctrine of marshaling "overreaches."

"As it stands, the Debtors have budgeted $850,000 of fees and
expenses for their professionals, while reserving only $50,000 for
the Committee's counsel, and altogether omitting a line item for a
Committee financial advisor.  The budgeted fees of the Committee's
counsel are less than 6% of the fees for the Debtors' team that
includes two law firms, two claims agents and Alvarez & Marsal
Healthcare Industry Group, LLC, which provides CRO services along
with general financial advisory and sale-related services to the
Debtors," the Committee pointed out in its objection.

"In the Objection, the Committee makes vague and unfounded
allegations and arguments in an unabashed attempt to squeeze money
from the Debtors' estates (in large part for the Committee's
professionals' pockets).  Unfortunately for the Committee and its
professionals, the well is dry," ProNerve said in response to the
objections.

The Debtor explained that:

    * The Local Rules do not require any specific length of time
for the Committee to investigate or challenge the Liens.  Assuming
that the Court approves the sale to SpecialtyCare, it is unclear
what, if any, benefit could be gained by the Committee from further
investigating or challenging the Liens after the sale is approved.

    * If the Committee can demonstrate a prima facie case regarding
a challenge to the Liens, it will have the opportunity to present
such argument to this Court.  At this time, there is no reason or
basis for the Debtors or this Court to grant the Committee standing
to challenge the Liens given that the Committee has not articulated
a single fact (let alone a "colorable claim") that suggests there
are issues with the Liens.

    * The $10,000 cap on the Committee's professional fees to
investigate the Liens is in line with other investigation budgets
approved by this Court in other Chapter 11 cases, when considered
in the context of the size of liens to be challenged.

    * The $50,000 budget for the Committee's professional fees is
adequate given that the Chapter 11 cases are straightforward and
are proceeding to an expedited sale process.  The claim that the
"budgeted fees of the Committee's counsel are less than 6% of the
fees for the Debtors' team" is a mischaracterization.  A&M
personnel are acting in various roles as the Debtors' senior
management, including CEO, CRO, CFO, and several Vice Presidents,
among others.  Thus, it is improper to compare the Committee's
budget to A&M's budget for operating all aspects of the Debtors'
operations during the Chapter 11 cases.

    * The Debtors' waiver of rights under 11 U.S.C. Sec. 552(b) and
the doctrine of marshaling "overreaches."

The Debtors pointed out that they do not expect that unsecured
creditors in the Chapter 11 cases will be entitled to any
distribution.  Nonetheless, SpecialtyCare has generously agreed to
(i) leave behind chapter 5 avoidance actions for unsecured
creditors, (ii) provide $790,000 for wind-down costs, a portion of
which may be made available for distribution to unsecured
creditors, (iii) leave behind any portion of the $900,000
pre-closing professional fee budget that remains, and (iv)
subordinate its deficiency claim to the portion of the $1.69
million in cash remaining after payment of professional fees and
wind-down costs.

The Debtors also noted that SpecialtyCare is providing new money to
the Debtors -- there is no roll-up of the prepetition debt. The
Committee should not be permitted to take advantage of
SpecialtyCare's offer, which is more than fair under the
circumstances.

A copy of the Final DIP Order is available for free at:

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

                      About ProNerve Holdings

Founded in 2008, ProNerve is headquartered in a suburb of Denver,
Colorado.  ProNerve and certain affiliated practice entities
provide intraoperative neurophysiologic monitoring ("IOM") services
to health systems, acute care hospitals, specialty hospitals,
ambulatory surgical centers, surgeons, and physician groups in more
than 25 states.

ProNerve Holdings, LLC and its affiliates sought Chapter 11
protection (Bankr. D. Del. Case No. 15-10373) on Feb. 24, 2015,
with a deal to sell assets to SpecialtyCare IOM Services, LLC for a
credit bid of $35 million.

The cases are assigned to Judge Kevin J. Carey.

The Debtor tapped Pepper Hamilton LLP as counsel, and The Garden
City Group, Inc., as claims and noticing agent.

The U.S. Trustee for Region 3 appointed three creditors of ProNerve
Holdings to serve on the official committee of unsecured creditors.
The Committee selected Blank Rome LLP as counsel, and Carl Marks
Advisory Group LLC as financial advisor.


PRONERVE HOLDINGS: Committee Wants Until May 5 to Challenge Liens
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors of ProNerve Holdings,
LLC, et al., asked the Bankruptcy Court to enter an order extending
through and including May 5, 2015, the challenge period under the
final order authorizing the Debtors to access DIP financing and use
cash collateral.

SpecialtyCare IOM Services, LLC, is providing the Debtors with $2.5
million of postpetition financing.  SpecialtyCare is already owed
$43.2 million for funds provided prepetition.

Among other things, the Final DIP Order limited the date by which
the Committee may file an adversary proceeding or contested matter
to challenge the validity extent and priority of the purported
prepetition liens asserted by SpecialtyCare, on or before the date
that is "the earlier of (i) the date that is the earlier of (x) the
date of entry of an order of this Court approving the sale of a
substantial portion of the collateral securing the Prepetition
Liens and (y) the date that is 75 days after entry of this Final
Order (or, with respect to the Committee, 60 days after the date of
its formation), and (ii) if such a [c]hallenge is brought, the date
of a final judgment on such [c]hallenge or, in each case, such
later date (x) as has been agreed to, in writing, by [Specialty
Care] in its sole discretion or (y) as has been ordered by the
Court" (the "Challenge Period").

The Committee, through proposed counsel and CMAG, has requested a
variety of documents and information from the Debtors.  Certain
documents and information have been produced.  Despite making an
informal request in early March and making a written document
request on March 17, more than 3 weeks ago, the Committee says it
has not received a complete production of information.  Despite its
request for board minutes and resolutions dating back to 2009, the
Committee claims it has not received any minutes or resolutions
prior to Oct. 14, 2014.  Furthermore, the Committee says it has
requested, but not received any of the Debtors' e-mail
communications.

While the Debtors, through their financial advisor, produced
certain financial data to assist the Committee in evaluating its
potential challenges to the Prepetition Liens, CMAG was recently
advised that the Debtors' record-keeping contains certain
limitations that prevent CMAG from discovering all data and
information requested.

Josef W. Mintz, Esq., at Blank Rome LLP, explains that as set forth
in the Committee's objection to sell assets to SpecialtyCare, in
the short course of the Committee's investigation to date, it
appears that GECC (and therefore SpecialtyCare) may have disclaimed
its interest in the Debtors/APEs' government receivables when
received on deposit and that such disclaimer caused a series of
preferences as government receivables were transferred into an
account in which the Initial Lenders allegedly maintained a
perfected security interest.  Government receivables make up a
substantial percentage of the Debtors' top line.

Furthermore, the Committee's investigation to date reveals that
there is a substantial identity between and among the Debtors and
the APEs.  Based on information made available to the Committee to
date, there is a substantial possibility that confusion existed
among creditors regarding the Debtors and the APEs and the various
services provided by each.  The Committee is further informed and
believes that certain creditors, including GECC, relied on the
combined credit of the Debtors and the APEs, while unsecured
creditors may have been none the wiser.  The inclusion of the APEs'
value into the bankruptcy estates may be the only way to ensure a
meaningful recovery to the Debtors' unsecured creditors, who may
have relied on the breakdown of entity borders between and among
these closely-related entities.

Accordingly, the Committee requests an order extending the
Challenge Deadline through and including May 5, 2015, without
prejudice to the Committee's right to seek a further extension of
the deadline for cause.

                      About ProNerve Holdings

Founded in 2008, ProNerve is headquartered in a suburb of Denver,
Colorado.  ProNerve and certain affiliated practice entities
provide intraoperative neurophysiologic monitoring ("IOM") services
to health systems, acute care hospitals, specialty hospitals,
ambulatory surgical centers, surgeons, and physician groups in more
than 25 states.

ProNerve Holdings, LLC and its affiliates sought Chapter 11
protection (Bankr. D. Del. Case No. 15-10373) on Feb. 24, 2015,
with a deal to sell assets to SpecialtyCare IOM Services, LLC for a
credit bid of $35 million.

The cases are assigned to Judge Kevin J. Carey.

The Debtor tapped Pepper Hamilton LLP as counsel, and The Garden
City Group, Inc., as claims and noticing agent.

The U.S. Trustee for Region 3 appointed three creditors of ProNerve
Holdings to serve on the official committee of unsecured creditors.
The Committee selected Blank Rome LLP as counsel, and Carl Marks
Advisory Group LLC as financial advisor.


RADIOSHACK CORP: Hilco Soliciting Offers for Intellectual Property
------------------------------------------------------------------
Hilco Streambank, on behalf of certain lenders, is assisting
RadioShack Corporation in soliciting offers to acquire certain
assets.  The assets include certain U.S and Foreign registered
Trademarks, 73 active and pending patent applications, the
RadioShack customer database including 8.5 million opt-in e-mail
addresses, 295 registered domains -- including "RadioShack.com"
"Tandy.com", "TheShack.com" and "Ignition.com", the Company's
franchise and dealer network and infrastructure, and the Company's
Global Sourcing Business.  The Assets will be sold in a sale under
Section 363 of the U.S. Bankruptcy Code in the Chapter 11 case
pending in the U.S. Bankruptcy Court for the District of Delaware.
The proposed bid deadline is May 6, 2015, at 4:00 p.m. EDT, with an
auction scheduled in New York, New York, on May 11, 2015, at 10:00
a.m. EDT.

On April 1, 2015, the Bankruptcy Court approved the sale of certain
RadioShack assets to General Wireless Inc. and Sprint Solutions.
The Intellectual Property and Global Sourcing Business were
excluded from the sale.  On April 10, 2015, the Company filed its
motion to approve bidding procedures for the sale of certain assets
including remaining Intellectual Property and the Company's global
sourcing business.

As of Dec. 31, 2014, RadioShack operated more than 4,100 company
stores across the U.S., Puerto Rico, and U.S. Virgin Islands, and
274 stores in Mexico.  In addition the Company has a network of
approximately 1,000 RadioShack dealer-franchise outlets located
throughout the U.S, Central America and Asia.  The Company also
sells product through its e-commerce platform
http://www.radioshack.com/RadioShack private label products for
the Company owned stores, e-commerce business, and dealer network
are designed and sourced by RadioShack in Asia and elsewhere
through the Company's Global Sourcing Business.

Parties interested in learning more about the Assets and the sale
should contact Hilco Streambank directly using this contact
information:

      David Peress
      Executive Vice President
      Hilco Streambank
      Tel: (781) 471-1239
      E-mail: dperess@hilcoglobal.com

      Jack Hazan
      Executive Vice President
      Hilco Streambank
      Tel: (212) 610-5663
      E-mail: jhazan@hilcoglobal.com

      Dmitriy Chemlin
      Director
      Hilco Streambank
      Tel: (212) 610-5642
      E-mail: dchemlin@hilcoglobal.com

                     About Hilco Streambank

Hilco Streambank -- www.hilcostreambank.com -- is a market leading
advisory firm specializing in intellectual property disposition and
valuation.  Over the last three years Hilco Streambank has become a
leader in the IP valuation and disposition market, representing
brands across various industries.  Having completed numerous
transactions including sales in publicly reported Chapter 11
bankruptcy cases, private transactions, and online sales through
HilcoDomains.com and IPv4Auctions.com, Hilco Streambank has
established itself as the premier intermediary in the consumer
brand, internet and telecom communities.  Hilco Streambank is part
of Northbrook, Illinois-based Hilco Global -- www.hilcoglobal.com
-- a worldwide financial services company and leader in helping
companies maximize the value of their assets.

                   About Radioshack Corporation

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

RadioShack Corporation and affiliates filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-10197) on
Feb. 5, 2015.  The petitions were signed by Joseph C. Maggnacca,
chief executive officer.  Judge Kevin J. Carey presides over the
case.

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

The Debtors disclosed total assets of $1.2 billion, versus total
debt of $1.3 billion.

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

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


RADIOSHACK CORP: Won't File 2015 Annual Form 10-K Report
--------------------------------------------------------
Robert C. Donohoo, Vice President, General Counsel and Corporate
Secretary of RadioShack Corporation, said in a regulatory filing
with the Securities and Exchange Commission that the Company does
not intend to file its 2015 Form 10-K report due to the impending
liquidation of its remaining assets. The Company believes that,
based on the information currently available to it, the Company's
operating results for the fiscal year ended January 31, 2015 were
significantly different from those for the prior fiscal year due to
developments that have occurred in the Company's business over the
past year, including those described in its Quarterly Report for
the quarterly period ended November 1, 2014. The Company is
currently unable to provide a reasonable estimate of its results
for the fiscal year ended January 31, 2015.

RadioShack and various domestic subsidiaries filed voluntary
Chapter 11 petitions in February.  On April 1, 2015, the Company
completed the previously announced sale of 1,743 Company-owned
stores and inventory to General Wireless Inc. and Sprint Solutions,
Inc. pursuant to the Asset Purchase Agreement, dated February 5,
2015.  The Sale was conducted under the provisions of Section 363
of the Bankruptcy Code and approved by the Bankruptcy Court on
March 31, 2015 following the completion of an auction process in
which General Wireless and Sprint were declared the winning
bidders. Holders of the Company's common stock have no interest in
General Wireless or the stores and related assets acquired by
General Wireless in the Sale.

On March 23, 2015, the Company and certain of its subsidiaries
entered into a Purchase Agreement with Office Depot de Mexico, S.A.
de C.V. for the sale of the Company's Mexican subsidiaries and
certain trademarks and domain names used in the operation of those
businesses. Completion of the Mexico Sale is subject to customary
closing conditions, including receipt of required regulatory
approvals. Holders of the Company's common stock have no interest
in Office Depot Mexico and, following completion of the Mexico
Sale, will have no interest in the Mexican subsidiaries and related
assets sold in the Mexico Sale.

The Company is in the process of closing and/or liquidating all
stores and other operations not included in the Sale or the Mexico
Sale. The Company currently expects that all of its stores that
have not been acquired by General Wireless in the Sale and that
will not be acquired by Office Depot Mexico in the Mexico Sale will
be closed by April 30, 2015. The Company expects that its remaining
assets, which include the Company's intellectual property, owned
real estate and certain other assets, will be liquidated in the
Chapter 11 Cases.

The Chapter 11 filings occurred at a time during which the
Company's year-end audit procedures would be conducted. As a result
of the events and other events leading up to the Chapter 11
filings, the Company's employee headcount has been reduced
significantly in recent months. In addition to managing the
day-to-day operation of the Company's business, the Company's
remaining corporate employees have been tasked with administering
the Chapter 11 Cases, including attending to issues related to the
Sale, the Mexico Sale and the closing of the Company's remaining
stores. Accordingly, the Company is unable to perform the work that
would be necessary to complete and file its Annual Report on Form
10-K for the fiscal year ended January 31, 2015 within the
prescribed time period without unreasonable effort and expense.

As a result of the sale or liquidation of the Company's assets, the
Company does not expect to file the 2015 Form 10-K. As a
debtor-in-possession under the Bankruptcy Code, the Company files
monthly operating reports with the Bankruptcy Court. The Company
cautions that these reports include financial statements that are
limited in scope, cover a limited time period, are prepared solely
for the purpose of complying with requirements applicable in the
Chapter 11 Cases and are in a format acceptable to the U.S.
Trustee. Investors and potential investors should not to place
undue reliance upon the information contained in the monthly
operating reports, which are not prepared for the purpose of
providing the basis for an investment decision relating to any of
the securities of the Company.

                         About RadioShack

Headquartered in Fort Worth, Texas, RadioShack (NYSE: RSH) --
http://www.radioshackcorporation.com/-- is a retailer of mobile   

technology products and services, as well as products related to
personal and home technology and power supply needs. RadioShack's
retail network includes more than 4,300 company-operated stores in
the United States, 270 company-operated stores in Mexico, and
approximately 1,000 dealer and other outlets worldwide.

RadioShack Corporation and affiliates sought Chapter 11 protection

(Bankr. D. Del. Lead Case No. 15-10197) on Feb. 5, 2015. Judge
Kevin J. Carey presides over the case.

David G. Heiman, Esq., Greg M. Gordon, Esq., Amanda M. Suzuki,
Esq., Jonathan M. Fisher, Esq., Thomas A. Howley, Esq., and Paul
M.
Green, Esq., at Jones Day serve as the Debtors' bankruptcy
counsel.

David M. Fournier, Esq., Evelyn J. Meltzer, Esq., and John H.
Schanne, II, Esq., at Pepper Hamilton LLP serve as co-counsel.  
Carlin Adrianopoli at FTI Consulting, Inc., is the Debtors'
restructuring advisor. Maeva Group, LLC, is the Debtors'
turnaround
advisor.  Lazard Freres & Co. LLC is the Debtors' investment
banker. A&G Realty Partners is the Debtors' real estate advisor.
Prime Clerk is the Debtors' claims and noticing agent.

The Official Committee of Unsecured Creditors selected Cooley LLP
and Quinn Emanuel Uruhart & Sullivan, LLP as lead counsel, and
Holihan Lokey Capital, Inc., as its financial advisor.  The
Committee retained Whiteford, Taylor & Preston LLC as Delaware
counsel.

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

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


RADNET MANAGEMENT: Moody's Says B2 CFR Unaffected by $75MM Loan
---------------------------------------------------------------
Moody's Investors Service said that RadNet Management, Inc.'s
proposed $75 million incremental first lien term loan has no impact
on the company's ratings, including the B2 corporate family rating,
Ba3 ratings on its senior secured credit facilities, Caa1 rating on
its second lien term loan, and stable outlook.

RadNet (NASDAQ: RDNT), headquartered in Los Angeles, California,
provides diagnostic imaging services through a network of
diagnostic imaging facilities located in seven states, primarily in
California, Maryland, and New York. Revenue for the year ended
December 31, 2014 was approximately $747 million.


RADNET MANAGEMENT: S&P Lowers Rating on 1st Lien Debt to 'B'
------------------------------------------------------------
Standard & Poor's Ratings Services lowered its issue-level rating
on RadNet Management Inc.'s first-lien debt to 'B' from 'B+' and
revised the recovery rating on the debt to '3' from '2'.  The
rating actions follow the company's announcement that it plans on
adding $75 million to its first-lien term loan.  RadNet will use
proceeds from the add-on to acquire New York Radiology Partners, a
New York City-based operator of diagnostic imaging centers, pay
down the revolver, and for general corporate purposes.

S&P is revising the recovery ratings and lowering the issue-level
ratings on the first-lien debt principally because of weaker
recovery prospects due to the incremental first-lien debt.  The '3'
recovery rating on the first-lien debt indicates S&P's expectation
of meaningful (50% to 70% at the high end of the range) recovery in
the event of a payment default.  The existing recovery and
issue-level ratings of the second-lien debt are unchanged.

RadNet's capital structure consists of a $101 million revolver, a
$495 million ($470 million outstanding, pro forma for the
transaction) first-lien term B, a $180 million second-lien term
loan, and approximately $19 million of capital leases.

S&P's 'B' corporate credit rating and stable outlook on RadNet
reflects the company's single business focus in the competitive
industry of diagnostic imaging, high capital intensity, relatively
low barriers to entry, and reimbursement risk.  It also reflects
S&P's expectation that leverage will be the low- to mid-4x area and
that the company will generate moderate positive discretionary cash
flow, sufficient to cover relatively high debt amortization
requirements.

RECOVERY ANALYSIS

Key analytical factors:

   -- S&P has valued the company on a going-concern basis using a
      5.0x multiple of S&P's projected emergence EBITDA.

   -- S&P estimates that, for the company to default, EBITDA would

      need to decline significantly, stemming from intensified
      competition, cost increases, and declining reimbursement
      rates.

Simulated default and valuation assumptions:

   -- Simulated year of default: 2018
   -- EBITDA at emergence: $76 mil.
   -- EBITDA multiple: 5.0x

Simplified waterfall:
   -- Net enterprise value (after 5% admin. costs): $361 mil.
   -- Valuation split in % (obligors/nonobligors): 100/0
   -- Priority claims: $20 mil.
   -- Collateral value available to first-lien creditors:
      $341 mil.
   -- Secured first-lien debt: $503 mil.
      --Recovery expectations: 50% to 70%
   -- Collateral value available to second-lien creditors: $0
   -- Secured second-lien debt: $188 mil.
      --Recovery expectations: 0% to 10%

Notes: All debt amounts include six months of prepetition interest.
Collateral value equals asset pledge from obligors after priority
claims plus equity pledge from nonobligors after nonobligor debt.

RATINGS LIST

RadNet Management Inc.
Corporate Credit Rating     B/Stable/--

Downgraded; Recovery Ratings Revised
                             To           From
RadNet Management Inc.
$495 mil First-Lien Term Loan
Due 2018                    B            B+
   Recovery Rating           3H           2L



REVEL AC: NJ Utility Agrees to Repower Casino for Two Weeks
-----------------------------------------------------------
The Daily Bankruptcy Review reported that the new owner of the
former Revel casino and the utility company that shut off service
to it have reached agreement on repowering the building for two
weeks.

According to the report, the agreement to allow fire detection and
suppression systems to resume operating was reached during a
hearing between Glenn Straub and ACR Energy Partners.  Mr. Straub
will pay $262,500 for 2 megawatts of service to the building over
two weeks, the report related.

                         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.


RITE AID: Has Slight Hike in Revenue in 2014
--------------------------------------------
Rite Aid Corporation filed with the Securities and Exchange
Commission its annual report on Form 10-K for the fiscal year ended
Feb. 28, 2015.

According to the Company, current economic conditions may adversely
affect its industry, business and results of operations.

"The United States economy is continuing to feel the impact of the
economic downturn that began in late 2007, and the future economic
environment may not fully recover to levels prior to the downturn,"
the Company said in the report.  "This economic uncertainty has and
could further lead to reduced consumer spending."

If consumer spending decreases or does not grow, the Company said
it may not be able to sustain the improvement in its same store
sales.  In addition, reduced or flat consumer spending may drive
the Company and its competitors to offer additional products at
promotional prices, which would have a negative impact on its gross
profit.

Rite Aid reported net income of $2.1 billion on $26.5 billion of
revenues for the year ended Feb. 28, 2015, compared with net income
of $249 million on $25.5 billion of revenues for the year ended
March 1, 2014.

Net income for fiscal 2015 was impacted by a reduction of the
deferred tax asset valuation allowance and a full year provision of
income tax expense at a statutory rate, the net effect of which
resulted in an income tax benefit of $1.68 billion, or $1.65 per
diluted share.  Also contributing to the increase in net income was
a LIFO credit of $18.9 million versus a LIFO charge of $104 million
in fiscal 2014, lower loss on debt retirements, and lower interest
expense.

As of Feb. 28, 2015, Rite Aid had $8.86 billion in total assets,
$8.80 billion in total liabilities. and $57.05 million in total
stockholders' equity.

"We believe we have adequate sources of liquidity to meet our
anticipated requirements for working capital, debt service and
capital expenditures through fiscal 2016 (including following the
acquisition of EnvisionRx) and have no significant debt maturities
prior to January 2020.  However, if our operating results, cash
flow or capital resources prove inadequate, or if interest rates
rise significantly, we could face liquidity constraints," the
Company added.

In addition, the Company said it is highly leveraged.  The Company
maintains its substantial indebtedness could limit cash flow
available for its operations and could adversely affect its ability
to service debt or obtain additional financing if necessary.

The Company had, as of Feb. 28, 2015, $5.60 billion of outstanding
indebtedness, and stockholders' equity of $57.1 million.  The
Company also had additional borrowing capacity under its $3 billion
senior secured revolving credit facility of $1.20 billion, net of
outstanding letters of credit of $71.1 million.  Additionally, on
April 2, 2015, the Company issued $1.80 billion aggregate principal
amount of our 6.125% senior notes due 2023 to finance the cash
portion of its pending acquisition of EnvisionRx.  The Company's
earnings were sufficient to cover fixed charges for fiscal 2015 and
2014 by $427 million and $233.4 million, respectively.  However,
the Company's earnings were insufficient to cover fixed charges and
preferred stock dividends for fiscal 2013, 2012, and 2011 by $14
million, $412 million and $564.8 million, respectively.

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

                        http://is.gd/3ByvDp

                        About Rite Aid Corp.

Rite Aid is a drugstore chain with 4,570 stores in 31 states and
the District of Columbia and fiscal 2014 annual revenues of $25.5
billion.

                           *     *     *

In March 2015, Moody's Investor Service confirmed its 'B2'
Corporate Family Rating of Rite Aid.  The confirmation reflects
Moody's expectation that Rite Aid will maintain debt to EBITDA
below 7.0 times after closing the acquisition of Envision
Pharmaceutical Holdings, Inc.

As reported by the TCR on Oct. 2, 2013, Standard & Poor's Ratings
Services said it raised its ratings on Rite Aid, including the
corporate credit rating, which S&P raised to 'B' from 'B-'.

In April 2014, Fitch Ratings upgraded its ratings on Rite Aid,
including its Issuer Default Rating to 'B' from 'B-'.  The upgrades
reflect the material improvement in the company's operating
performance, credit metrics and liquidity profile over the past 24
months.


ROADRUNNER ENTERPRISES: May 6 Final Hearing on Cash Collateral
--------------------------------------------------------------
The Bankruptcy Court will convene a final hearing on May 6, 2015,
at 2:00 p.m., to consider Roadrunner Enterprises Inc.'s motion to
use cash collateral.

The Court has already entered an interim order authorizing the use
of cash collateral.

The Debtor's motion is facing objections from secured creditors.

Towne Bank wants the Court to condition the Debtor's use of cash
collateral.  The Debtor's indebtedness due to the Bank under a
series of loans -- which is $3,000,000, plus costs and fees -- is
secured by various parcels of real property located throughout
Virginia.

Creditor Presidential Bank, FSB, in its objection, said that the
cash collateral motion lacks sufficient detail to allow the Bank to
determine its position as to the proposed use of cash collateral
and whether its security interest in the Campground is adequately
protected, therefore, Presidential Bank does not consent to the
proposed use of the cash collateral.

The Bank of Southside Virginia, holder of numerous claims secured
by security interests in various parcels of real property located
in Chesterfield County, Sussex County and the City of Hopewell,
Virginia, said that the replacement liens offer no adequate
protection to BSV beyond what the Bankruptcy Code otherwise
affords.

BSV objects to the Debtor's use of cash collateral without its
consent.

Bank of McKenney believes that the budget attached to the motion is
deficient.  The Debtor's indebtedness due to the Bank under a
series of loans -- which is $1,546,000, plus costs and fees -- is
secured by various parcels of real property located throughout
Virginia's south side.

As reported in the TCR on Feb. 17, 2015, the Debtor is asking for
authorization to use cash collateral securing its prepetition
indebtedness to pay general operating and administrative expenses
during the reorganization.  Towne Bank f/k/a Franklin Federal
Savings Bank; Bank of McKenney; Bank of Southside Virginia; EVB;
Virginia Commonwealth Bank; and Presidential Bank have interests in
the collateral.

The Debtor proposes the following adequate protection:

   (a) Towne Bank: The Debtor proposes to grant to Towne Bank a
replacement lien in postpetition cash collateral and assets to the
same extent and priority as Towne Bank had prepetition.

   (b) Bank of McKenney: The Debtor proposes to grant to Bank of
McKenney a replacement lien in postpetition cash collateral and
assets to the same extent and priority as Bank of McKenney had
prepetition.

   (c) Bank of Southside Virginia: The Debtor proposes to grant to
EVB a replacement lien in postpetition cash collateral and assets
to the same extent and priority as EVB had prepetition.  The Debtor
says the Bank of Southside Virginia is over-secured.  The Debtor
proposes no additional adequate protection to Bank of Southside
Virginia is warranted.

   (d) EVB: The Debtor proposes to grant to EVB a replacement lien
in postpetition cash collateral and assets to the same extent and
priority as EVB had prepetition.

   (e) Virginia Commonwealth Bank: The Debtor proposes to grant to
Virginia Commonwealth Bank a replacement lien in postpetition cash
collateral and assets to the same extent and priority as Virginia
Commonwealth Bank had prepetition.

   (f) Presidential Bank: The Debtor proposes to grant to
Presidential Bank a replacement lien in postpetition cash
collateral and assets to the same extent and priority as
Presidential Bank had prepetition.

                   About Roadrunner Enterprises

Headquartered in Chesterfield County, Virginia, Roadrunner
Enterprises Inc. owns the Roadrunner Campground and more than 70
rental properties, lots, and other real estate interests.

Roadrunner Enterprises filed for Chapter 11 bankruptcy protection
(Bank. E.D. Va. Case No. 15-30604) on Feb. 6, 2015.  The petition
was signed by Carl Adenauer, president.  David K. Spiro, Esq., at
Hirschler Fleischer, P.C., serves as the Debtor's counsel.  Judge
Kevin R. Huennekens presides over the case.  The Debtor estimated
assets and liabilities of at least $10 million.

No trustee or examiner has yet been appointed in this Chapter 11
case, and no committees have yet been appointed or designated.



ROADRUNNER ENTERPRISES: Selling Chesterfield Properties
-------------------------------------------------------
Roadrunner Enterprises, Inc., asks the Bankruptcy Court for
authorization to sell its real properties located at Chesterfield,
Virginia:

   -- 4104 Ralph Road
   -- 4121 Ralph Road
   -- 19205 Rosewood Lane
   -- 19209 Rosewood Lane
   -- 19304 Rosewood Lane
   -- 19305 Rosewood Lane
   -- 19308 Rosewood Lane
   -- 19309 Rosewood Lane
   -- 19312 Rosewood Lane

As of the Petition Date, the Debtor was the record owner of these
real properties.  On the Petition Date, the Debtor valued the real
property at $100,000.

On March 4, 2015, creditor EVB filed a proof of claim, whereby EVB
asserted that the payoff on the note associated with the real
property was $176,833.

On April 3, the Debtor entered into a contract for the sale of the
real property with The Global Property Group LLC.  By the contract,
the parties agreed:

  1. to a purchase price for the real property of $135,000 which
will be paid by the purchaser in cash at the closing;

  2. that the Debtor pay any rollback taxes on the real property,
and expenses in preparing the deed and recordation tax.

  3. that each party will bear its own closing costs.

The Debtor will further pay the remaining sales proceeds to EVB.
The Debtor will not retain any sales proceeds.

                About Roadrunner Enterprises Inc.

Headquartered in Chesterfield County, Virginia, Roadrunner
Enterprises Inc. owns the Roadrunner Campground and more than 70
rental properties, lots, and other real estate interests.

Roadrunner Enterprises filed for Chapter 11 bankruptcy protection
(Bank. E.D. Va. Case No. 15-30604) on Feb. 6, 2015.  The petition
was signed by Carl Adenauer, president.  David K. Spiro, Esq., at
Hirschler Fleischer, P.C., serves as the Debtor's counsel.  Judge
Kevin R. Huennekens presides over the case.  The Debtor estimated
assets and liabilities of at least $10 million.

No trustee or examiner has yet been appointed in this Chapter 11
case, and no committees have yet been appointed or designated.


ROADRUNNER ENTERPRISES: Wants to Sell Real Property for $125K
-------------------------------------------------------------
Roadrunner Enterprises, Inc., asks the  Bankruptcy for
authorization to sell real property located at 16633 Jefferson
Davis Highway, Chesterfield, Virginia.

On the Petition Date, the Debtor valued the real property at
$140,000.

On March 12, 2015, the Debtor entered into a contract for the sale
of the real property with Shawn Dunn.  

By the contract, the parties agreed:

   1. to a purchase price for the real property of $125,000;

   2. that the Debtor pay a brokerage fee of 6% of the purchase
price to Tyler Realty Group, subject to Court's approval of the
motion;

   3. that each party will bear its own closing costs;

If the motion is approved, the Debtor will pay to The Bank of
Southside Virginia, the holder of a deed of trust on the real
property, $92,250.  The Debtor will further pay the contemplated
brokerage fee of 6% of the purchase price to Tyler Realty Group and
any closing costs from the sales proceeds.

                About Roadrunner Enterprises Inc.

Headquartered in Chesterfield County, Virginia, Roadrunner
Enterprises Inc. owns the Roadrunner Campground and more than 70
rental properties, lots, and other real estate interests.

Roadrunner Enterprises filed for Chapter 11 bankruptcy protection
(Bank. E.D. Va. Case No. 15-30604) on Feb. 6, 2015.  The petition
was signed by Carl Adenauer, president.  David K. Spiro, Esq., at
Hirschler Fleischer, P.C., serves as the Debtor's counsel.  Judge
Kevin R. Huennekens presides over the case.  The Debtor estimated
assets and liabilities of at least $10 million.

No trustee or examiner has yet been appointed in this Chapter 11
case, and no committees have yet been appointed or designated.


ROBERT MEIER: DIP Checking Account Belongs to Bankruptcy Estate
---------------------------------------------------------------
Bankruptcy Judge Jack B. Schmetterer in his April 3, 2015
Memorandum Opinion on Motion for Turnover of DIP Account, in the
case docketed as In re: Robert J. Meier, Chapter 7 (Converted from
Chapter 11), Debtor, BANKRUPTCY NO. 14-BK-10105, ruled that the
Debtor in Possession (DIP) Checking Account, in its entirety, is
property of the estate and cannot be claimed as exempt.

Judge Schmetterer concluded "the money in the subject DIP account
is property of the estate, and is not subject to any exemption.
Accordingly, all money in the DIP account must be turned over to
the Chapter 7 trustee. The motion of the Trustee to settle for half
will be denied because it does not fall within the reasonable range
of litigation possibilities, and the hearing scheduled to trace the
source of funds into the account will be canceled."

Robert Meier filed for bankruptcy relief under Chapter 11 of the
Bankruptcy Code on March 20, 2014. After lengthy litigation both
here and in state court, Meier voluntarily converted his case to
Chapter 7. After conversion to Chapter 7, Meier filed a final
report which identified the $98,004.23 in his DIP checking account
as "not property of the estate."

Creditor Edward Shrock filed a motion to compel turnover of those
funds to the trustee.  When the motion was heard on presentment,
the Trustee adopted Shrock's motion.

Meier contends that a Chapter 11 debtor's post-petition personal
services income does not become property of the Chapter 7 estate
upon conversion to Chapter 7. He contends alternatively that, even
if it does become estate property, 85% would be exempt as wages
under the Illinois Wage Deduction Act, 735 ILCS 5/12-803.

A copy of Judge Schmetterer's Memorandum Opinion on Motion for
Turnover of DIP Account is available at http://is.gd/LaOTWbfrom
Leagle.com.


ROTELLI: Files for Chapter 11, Stops Sheriff's Sale
---------------------------------------------------
Steve Bauer, writing for StateCollege.com, reports that Rotelli
filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy
Court in the Middle District of Pennsylvania on April 23, 2015,
preventing the restaurant's liquor license and equipment from being
sold in a sheriff's sale.  The April 23 auction was called off, the
report adds, citing David Krauth, the Company's co-owner.  

Shawn Annarelli at the Centre Daily Times quoted Mr. Krauth as
saying, "We're in a continued negotiation with the bank as our only
creditor, so we're attempting to negotiate with them.  We thought
we had a deal with PNC worked out.  They put parameters out, and we
agreed to their parameters.  We had an investor possibility that
agreed to their parameters, and at the 11th hour the bank pulled
out of the deal."

The Company, The Daily Times recalls, took out a $918,000 Small
Business Administration loan Aug. 21, 2006, through PNC Bank.  The
Daily Times states that Jill Spott, Esq., the attorney for PNC
Bank, warned the Company on Nov. 19, 2008, that the loan was in
default and that legal action could be taken after the owners
allegedly failed to make full "good faith" payments on the loan in
September and October 2008.

The Daily Times relates that Mr. Spott placed the total liability
against the Company at about $1 million plus interest in May 2009
in an initial filing by the bank against the restaurant.  According
to the report. Mr. Spott filed a writ of execution on Jan. 16,
2015, against the Company for the fourth time since 2009.

StateCollege.com quoted Mr. Krauth as saying, "We're going to be
open for quite some time.  Last year you guys and everybody else
printed a story that we were closing and all hell broke loose . . .
.  That's what we're trying to avoid this time.  We're going to
continue negotiations with PNC and we're going to come to a
resolution with them that's going to be good for all parties and
it's going to keep us open for a long time.  There will be no
auction."

Megan Fleming at Onward State says that the Company was at risk of
closure in 2014 when its owners owed $190,000 in back rent.
StateCollege.com quoted Mr. Krauth as saying, "We're in a very good
place with our landlord."

Rotelli is an Italian restaurant located at 250 E. Calder Way,
Pennsylvania.  It is owned by David Krauth and Mike Hughes.


SALTON SEA: Moody's Cuts Senior Secured Debt Rating to Ba1
----------------------------------------------------------
Moody's Investors Service downgraded the senior secured debt rating
of Salton Sea Funding Corporation (Salton Sea or Project) to Ba1
from Baa3. Concurrent with this rating action, Moody's also revised
the rating outlook to stable from negative.

The downgrade to Ba1 from Baa3 reflects the continuation of weak
financial performance anticipated over the next several years owing
primarily to lower US natural gas prices impacting future revenues
through the short run avoided cost (SRAC) pricing mechanism within
the majority of the contracts between the Project and Southern
California Edison Company (SCE; A2 stable). The downgrade also
considers Salton Sea's plan to increase capital expenditures
(capex) in each of the next four years to invest in new equipment
needed to support anticipated generation requirements beyond the
life of the current contracts. While Moody's recognizes the future
value associated with these investments, the near doubling of the
annual capital investment anticipated in each of the next four
years over what they had been historically will place pressure on
cash flow and credit metrics through the remaining life of the
project. The one notch rating change factors in the continued
anticipated financial support from parent company, Berkshire
Hathaway Energy Company (BHEC or Sponsor; A3 stable) in the form of
meaningful capital contributions during the remaining term of the
Salton Sea bonds.

Moody's calculates that Salton Sea's debt service coverage ratio
(DSCR) was below 1.0 times in 2014, and it is expected to remain
below or at best near 1.0 times each year through 2017, one year
prior to the November 2018 final maturity date. While this very
weak financial performance can be partly attributed to the higher
capex requirements, the reduction in future revenues owing to lower
SRAC pricing is an overriding factor. In fact, Moody's calculate
that Salton Sea's future DSCR, in most years, would be more akin to
a speculative grade credit even if capex were maintained at
historical levels. That said, with capex expected to double in each
of the next four years to approximately $50 million annually,
internal cash sources are not sufficient to satisfy annual debt
service and planned capex, requiring material support from BHEC in
these years.

More specifically, financial results have been negatively
influenced by the 2012 shift from a fixed tariff to a variable SRAC
tariff on the geothermal assets with power purchase agreements with
SCE. Under the variable SRAC formula, energy margins are highly
influenced by changes in the price of natural gas. With low natural
prices persisting during the 2013-2014 time frame, SRAC energy
prices have declined to an average price of 4.3 cents per kWh and
4.8 cents per kWh in 2013 and 2014, respectively, from the
substantially higher (at least 22% and 30% in each year) level of
6.16 cents per kWh price (escalated at 1% annually) that existed
from May 2007 through May 2012. Future SRAC prices are expected to
decrease further from 2013 and 2014 levels owing to reduced natural
gas price expectations anticipated through the term of the debt.

With respect to the higher capex program, Moody's expects that
Salton Sea's capex will average $50 million or more per year over
the next several years, a near doubling of the historical annual
capex level of $25-30 million per year. As mentioned, the higher
expected capex program incorporates BHEC's decision to invest in
production equipment improvements and enhancements in order to lift
production levels and maintain generation. Importantly, these
investments are being made so that the Project will be prepared to
meet generation requirements under new contracts that commence with
the expiration of the SCE SRAC contracts. Moody's understand that
new contracts representing about 200 MWs of the total existing
Salton Sea capacity of 338 MWs have been signed with Salt River
Project (Aa1 stable), Sacramento Municipal Utility District (Aa3
stable) and Riverside Public Utilities (unrated ) at contract
prices that approximate 7.2-7.3 cents per kWh, commencing in 2016,
when the first of the SCE SRAC contracts fall away.

From a structural perspective, Moody's views the restricted payment
text in the Salton Sea indenture as being creditor friendly
requiring a distribution test threshold of 1.5 times on both a 12
month look back and a 12 month look forward basis. At the moment,
Moody's understands that the Project is trapping cash, and is
expected to accumulate about $25 million by year-end 2015. Moody's
note that the Project is not expected to produce a DSCR above 1.5
times on an historical and/or prospective basis until 2018, the
year that the final amortization payments are due. Moody's also
note the existence of a one-year unutilized debt service reserve
provided in the form of a Sponsor recourse letter of credit. Our
rating expectation incorporates the view that the debt service
reserve will remain undrawn during the remaining life of the
transaction.

Importantly, the Ba1 rating captures management's track record and
the substantial degree of consistent Sponsor financial support for
the Project. Salton Sea's immediate parent, CE Generation LLC (CE
Gen) was until June 2014 indirectly-owned by a joint venture
between BHEC and TransAlta Corporation (TAC; Baa3 negative). During
2013, the co-owners together injected $34 million of equity into CE
Gen to support debt service at both Salton Sea and CE Gen. In June
2014, BHEC bought TAC's 50% stake in CE Gen for approximately $180
million resulting in BHEC becoming a 100% owner of both Salton Sea
and CE Gen. The sale is an additional data point that exemplifies
the degree to which BHEC has supported the Project. During 2014,
BHEC contributed a total of $54 million to Salton Sea and CE Gen to
enable both issuers to meet debt service and satisfy Salton Sea's
capex requirements of $50.7 million. Moody's understand that BHEC
will need to contribute an additional $45 million to the
consolidated group during 2015. The rating incorporates our
expectation that the Sponsor will continue to make contributions as
needed to support consolidated debt service and fund capex over the
remaining project life.

In summary, Moody's understands that BHEC is moving forward with a
more robust capex program with the recognition that the coverage
ratios will be significantly reduced for the next few years. This
is a long-term plan to enhance future performance and prepare the
Project for long-term operations under new contractual
arrangements. While no formal equity commitment obligation exists
from BHEC, the rating factors in the expectation that the Sponsor
will continue to provide financial support to the Project and to
the parent level debt. Furthermore, Moody's believes that BHEC has
a strong, long-term economic incentive to support the Salton Sea
project, given BHEC's 2014 purchase of the additional 50% CE Gen
ownership for $180 million, along with the value anticipated from
the new contracts entered into at the Project that will commence in
2016 and continue after the debt matures in November 2018.

The stable outlook factors in the expectation that BHEC will
continue to support Salton Sea as needed on a consistent basis,
even though it is not legally obligated to do so.

In light of the recent downgrade and the fact that DSCRs are
anticipated to remain below 1.00 times through 2017, the rating is
not expected to be upgraded in the near or intermediate term.
Moreover, the current Ba1 rating incorporates the benefits of the
ownership by and support from BHEC.

The rating and outlook could come under downward pressure if in the
unlikely event that BHEC fails to provide capital infusions to
Salton Sea for annual cash flow requirements related to capex and
debt service. Should such an event occur, the rating change would
likely be multi-notches. In addition, negative rating pressure
could surface if an unforeseen forced outage occurred and persisted
on a sustained basis.

The principal methodology used in these ratings was Power
Generation Projects published in December 2012.


SB PARTNERS: Incurs $875,000 Net Loss in 2014
---------------------------------------------
SB Partners filed with the Securities and Exchange Commission its
annual report on Form 10-K disclosing a net loss of $875,000 on
$1.08 million of total revenues for the year ended Dec. 31, 2014,
compared to a net loss of $1.1 million on $896,000 of total
revenues for the year ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $17.3 million in total assets,
$23.04 million in total liabilities, and a $5.77 million total
partners' deficit.

As of Dec. 31, 2014, the Company had cash and cash equivalents of
approximately $933,000 as compared to approximately $624,000 as of
Dec. 31, 2013.

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

                          http://is.gd/6PShKh

                           About SB Partners

Milford, Conn.-based SB Partners is a New York limited partnership
engaged in acquiring, operating and holding for investment a
varying portfolio of real estate interests.  As of June 30,
2010, the partnership owns an industrial flex property in Maple
Grove, Minnesota and warehouse distribution centers in Lino Lakes,
Minnesota and Naperville, Illinois.


SCRUB ISLAND: Court Orders Further Mediation with Judge Delano
--------------------------------------------------------------
The Bankruptcy Court directed Scrub Island Development Group
Limited, et al., and FirstBank Puerto Rico to conduct further
mediation conference with the Judicial Mediator -- the Hon. Caryl
E. Delano.

The Court determined that it is in the best interests of all the
parties to conduct further mediation conference.  The parties will
coordinate with Judge Delano to schedule a mutually convenient date
and time for the mediation.

The Reorganized Debtors and FirstBank will attend in person the
mediation with counsel and such corporate client representatives
with full and absolute authority necessary to agree to a mediated
settlement, including, but not limited to, unless otherwise
determined by Judge Delano, the president/chief executive officer
and general counsel for each of the parties.

As reported in the Troubled Company Reporter on Dec. 9, 2014, the
Debtors filed a motion asking Court to consolidate consideration of
evidence presented in support of confirmation of the Chapter 11
Plan and the Lender Liability Action with the Declaratory Action
with respect to the SIDG and FirstBank Puerto Rico.

On Oct. 31, 2014, FirstBank sought a declaration related to rights
of FirstBank and SIDG under that certain agreement for purchase
and sale dated Dec. 24, 2012, among FirstBank, SIDG, and Scrub
Island Utility (BVI) Ltd.  FirstBank sought a declaration that the
FirstBank Option Agreement is not executory.

The Court is hearing evidence related to confirmation of the First
Amended Joint Plan of Reorganization of the Debtors, and related
to Adversary Proceeding Number 8:14-ap-534 MGW.

The Debtors explained that the relief would avert a waste of
judicial resources, unnecessary costs and delay, and the potential
for inconsistent results in connection with confirmation and the
adversaries.

                         About Scrub Island

Scrub Island Development Group Ltd., the owner of a British Virgin
Islands luxury resort, and its affiliate, Scrub Island
Construction Limited, sought bankruptcy protection (Bankr. M.D.
Fla. Case Nos. 13-15285 and 13-15286) on Nov. 19, 2013, to end a
receivership Scrub Island claims was secretly put in place by its
lender.  The bankruptcy case is assigned to Judge Michael G.
Williamson.

The 230-acre resort operates as a Marriott Autograph Collection
property.  It has 52 rooms and suites, a spa and a 55-slip marina.

Scrub Island Development Group scheduled $125,569,235 in total
assets and $130,695,731 in total liabilities.

The Debtors are represented by Charles A. Postler, Esq., and
Harley E. Riedel, Esq., at Stichter, Riedel, Blain & Prosser, in
Tampa, Florida.

FirstBank Puerto Rico, the prepetition secured lender, is
represented by W. Keith Fendrick, Esq., at Holland & Knight LLP,
in Tampa, Florida.

The Debtors are represented by Charles A. Postler, Esq., and
Harley E. Riedel, Esq., at Stichter, Riedel, Blain & Prosser, in
Tampa, Florida.

FirstBank Puerto Rico, the Debtor's prepetition secured lender, is
represented by W. Keith Fendrick, Esq., at Holland & Knight LLP,
in Tampa, Florida.

The Official Committee of Unsecured Creditors appointed in Scrub
Island's cases has retained Robert B. Glenn, Esq., Edwin G. Rice,
Esq., and Victoria D. Critchlow, Esq., at Glenn Rasmussen, P.A.,
as general counsel.



SCRUB ISLAND: Oscher Consulting Approved as Expert Witness
----------------------------------------------------------
The Bankruptcy Court authorized Scrub Island Development Group
Limited, et al., to employ Oscher Consulting, P.A., as expert
witness.

Oscher will provide expert testimony on accounting issues in
support of anticipated litigation and general support for the
Debtors' estates.

Steven S. Oscher, managing director of Oscher, tells the Court that
the Debtors agreed to pay Oscher $5,000 for services to be
rendered.

Mr. Oscher assures the Court the firm is a "disinterested person"
as that term is defined in Section 101(14) of the Bankruptcy Code.

                         About Scrub Island

Scrub Island Development Group Ltd., the owner of a British Virgin
Islands luxury resort, and its affiliate, Scrub Island
Construction Limited, sought bankruptcy protection (Bankr. M.D.
Fla. Case Nos. 13-15285 and 13-15286) on Nov. 19, 2013, to end a
receivership Scrub Island claims was secretly put in place by its
lender.  The bankruptcy case is assigned to Judge Michael G.
Williamson.

The 230-acre resort operates as a Marriott Autograph Collection
property.  It has 52 rooms and suites, a spa and a 55-slip marina.

Scrub Island Development scheduled $126 million in assets and $131
million in liabilities.

The Debtors are represented by Charles A. Postler, Esq., and
Harley E. Riedel, Esq., at Stichter, Riedel, Blain & Prosser, in
Tampa, Florida.

FirstBank Puerto Rico, the prepetition secured lender, is
represented by W. Keith Fendrick, Esq., at Holland & Knight LLP,
in Tampa, Florida.

The Debtors are represented by Charles A. Postler, Esq., and
Harley E. Riedel, Esq., at Stichter, Riedel, Blain & Prosser, in
Tampa, Florida.

FirstBank Puerto Rico, the Debtor's prepetition secured lender, is
represented by W. Keith Fendrick, Esq., at Holland & Knight LLP,
in Tampa, Florida.

The Official Committee of Unsecured Creditors appointed in Scrub
Island's cases has retained Robert B. Glenn, Esq., Edwin G. Rice,
Esq., and Victoria D. Critchlow, Esq., at Glenn Rasmussen, P.A.,
as general counsel.



SEANERGY MARITIME: 2014 Annual Report on Form 20-F Now Available
----------------------------------------------------------------
Seanergy Maritime Holdings Corp. announced that its annual report
on Form 20-F for the fiscal year ended Dec. 31, 2014, has been
filed with the U.S. Securities and Exchange Commission on
April 21, 2014, a copy of which is available for free at:

                       http://is.gd/15Plfm

Shareholders may also request a hard copy of the Annual Report on
Form 20-F, free of charge, by contacting the Company's Investor
Relations, Capital Link, at:

   230 Park Avenue Suite 1536
   New York, NY 10169
   Tel. (212) 661-7566
   E-mail: seanergy@capitallink.com

                          About Seanergy

Athens, Greece-based Seanergy Maritime Holdings Corp. is an
international company providing worldwide seaborne transportation
of dry bulk commodities.  The Company owns and operates a fleet
of seven dry bulk vessels that consists of three Handysize, two
Supramax and two Panamax vessels.  Its fleet carries a variety of
dry bulk commodities, including coal, iron ore, and grains, as
well as bauxite, phosphate, fertilizer and steel products.

Ernst & Young (Hellas) Certified Auditors-Accountants S.A., in
Athens, Greece, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that following the disposal of the Company's entire fleet in
early 2014 in the context of its restructuring plan, the Company
was unable to generate sufficient cash flow to meet its obligations
and sustain its continuing operations that raise substantial doubt
about the Company's ability to continue as a going concern.

As of Dec. 31, 2014, the Company had $3.26 million in total assets,
$592,000 in total liabilities, and $2.67 million in total
stockholders' equity.

The Company disclosed net income of $80.3 million on $2.01 million
of net vessel revenue for the year ended Dec. 31, 2014, compared
with net income of $10.9 million on $23.1 million of net vessel
revenue for the year ended Dec. 31, 2013.


SELECT MEDICAL: Moody's Affirms 'B1' Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service confirmed the ratings of Select Medical
Holdings Corporation and its wholly owned subsidiary Select Medical
Corporation (collectively Select), including the B1 Corporate
Family Rating and B1-PD Probability of Default Rating. The rating
actions conclude the review for downgrade initiated on March 24,
2015. Concurrently, Moody's lowered Select's Speculative Grade
Liquidity Rating to SGL-3 from SGL-2. The rating outlook is
stable.

The confirmation of Select's B1 Corporate Family Rating follows
Moody's review of the impact of the announcement that Select will
enter into a joint venture with Welsh, Carson, Anderson & Stowe
(WCAS) to acquire Concentra Inc. from Humana Inc. for $1.055
billion. The confirmation of the ratings reflects Moody's
expectation that the high pro forma leverage of approximately 5.8
times debt to EBITDA resulting from the transaction will return to
a level below 5.0 times within 12-24 months through modest debt
repayment and realization of anticipated synergies from the
acquisition. Concentra will be integrated into Select's operations
and this is the primary source of the anticipated acquisition
synergies. Moody's views that the transaction is the first step in
a process in which Select acquires full control of Concentra over
time. Moody's believes that the joint venture structure moderates
the near-term effect on leverage and credit metrics by limiting the
initial increase in debt and allows Select to spread out the
financing of an acquisition. The increase in leverage is
nevertheless credit negative and is the result of both the
expectation that Select will use its available revolver to fund its
portion of the equity contribution to the joint venture and the
consolidation of the debt to be raised at Concentra. Concentra will
be consolidated into Select's financial statements given its
majority ownership in the joint venture.

The lowering of Select's Speculative Grade Liquidity Rating to
SGL-3 reflects a weakening of the company's liquidity position
through the reduction in available revolver following the expected
draw to fund the equity contribution to the joint venture, the
upcoming maturity of approximately $285 million of term loan in
December 2016, and the pressure on free cash flow over the next
year from spending to achieve the planned synergies.

Select Medical Holdings Corporation

Ratings confirmed:

  -- Corporate Family Rating at B1

  -- Probability of Default Rating at B1-PD

Ratings lowered:

  -- Speculative Grade Liquidity Rating to SGL-3 from SGL-2

Select Medical Corporation

Ratings confirmed:

  -- Senior secured credit facilities at Ba2 (LGD 2)

  -- Senior unsecured notes at B3 (LGD5)

The rating outlooks for Select Medical Holdings Corporation and
Select Medical Corporation are stable.

Select's B1 Corporate Family Rating reflects Moody's view that the
company will reduce its elevated leverage to 5.0 times or below
within 12-24 months of the Concentra acquisition. The rating also
reflects risks associated with Select's continued reliance on the
specialty hospital segment for the majority of its EBITDA, which
relies predominantly on the Medicare program as a source of
revenue. The rating benefits from Select's considerable scale and
position as one of the largest long term acute care hospital (LTCH)
operators and outpatient rehabilitation providers in the US.
Further, the addition of the Concentra business will diversify
Select's revenue sources and decreases its reliance on Medicare.

The SGL-3 reflects Moody's expectation that the company will
maintain adequate liquidity over the next 12 -18 months. Moody's
expects operating cash flow to be sufficient to fund all working
capital and capital spending needs. However, Select will have less
available liquidity due to the expected draw on its revolver to
fund a portion of the Concentra transaction and faces a significant
maturity of a portion of its outstanding term loans in December
2016.

The stable rating outlook reflects Moody's expectation that Select
can reduce leverage following the Concentra transaction through
EBITDA growth in Select's legacy business, as new hospitals
continue to mature, as well as margin improvement at Concentra. The
stable rating outlook also incorporates Moody's expectation that
the company will take steps to address its liquidity position,
including increasing revolver availability, addressing near term
maturities and improving free cash flow available for debt
repayment through curtailment of dividends and share repurchases.
Finally, the outlook reflects Moody's expectation that Select can
effectively manage changes to LTCH reimbursement around patient
criteria without significant detriment to credit metrics.

The ratings could be upgraded if Moody's expects the company to
maintain debt to EBITDA below 4.0 times either through debt
repayment or EBITDA growth. Additionally, Moody's would have to be
comfortable that the current operations could absorb negative
regulatory developments at the higher rating level.

Moody's could downgrade the ratings if adverse developments in
Medicare regulations or reimbursement result in significant
deterioration in margins or cash flow coverage metrics. The ratings
could also be downgraded if the company completes a material debt
financed acquisition or shareholder distribution such that debt to
EBITDA was expected to be sustained above 5.0 times.

The principal methodology used in these ratings was Global
Healthcare Service Providers 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.

Select Medical Corporation, headquartered in Mechanicsburg, PA,
provides long-term acute care hospital services and inpatient acute
rehabilitative care through its specialty hospital segment. The
company also provides physical, occupational, and speech
rehabilitation services through its outpatient rehabilitation
segment. The company will also have a majority interest in a joint
venture with Welsh, Carson, Anderson & Stowe that will contain the
operations of Concentra Inc. Concentra is a provider of
occupational and consumer healthcare services, including workers'
compensation injury care, physical exams and drug testing for
employers, and wellness and preventative care in approximately 300
centers across the US and 174 clinics at employer locations. Select
Medical Corporation is a wholly owned subsidiary of Select Medical
Holdings Corporation, a holding company. Select generated revenue
of approximately $3.1 billion for the year ended December 31, 2014.


SEVEN GENERATIONS: Moody's Raises Corporate Family Rating to B1
---------------------------------------------------------------
Moody's Investors Service upgraded Seven Generations Energy Ltd.'s
(7G) Corporate Family Rating to B1 from B2, Probability of Default
Rating to B1-PD from B2-PD, and senior unsecured notes rating to B2
from B3. Moody's also assigned a B2 rating to the company's
proposed US$400 million notes issue, due 2023. The Speculative
Grade Liquidity rating was also raised to SGL-2 from SGL-3 and the
rating outlook remains positive.

"The upgrade to B1 reflects the company's strong execution on its
growth capital spending, rising cash flows despite the fall in
commodity prices, and improving leverage metrics," commented Terry
Marshall, Moody's Senior Vice President. "Seven Generations has
enough liquidity to fund its very large capital program through
2016."

Upgrades:

Issuer: Seven Generations Energy Ltd

  -- Probability of Default Rating, Upgraded to B1-PD from B2-PD

  -- Speculative Grade Liquidity Rating, Upgraded to SGL-2 from
     SGL-3

  -- Corporate Family Rating, Upgraded to B1 from B2

  -- Senior Unsecured Regular Bond/Debenture (Foreign Currency),
     Upgraded to B2 from B3

Assignments:

Issuer: Seven Generations Energy Ltd

  -- Senior Unsecured Regular Bond/Debenture (Foreign Currency),
     Assigned B2

Outlook Actions:

Issuer: Seven Generations Energy Ltd

  -- Outlook, Remains Positive

The B1 CFR reflects 7G's concentration in a single field and a
single formation, decline rates that require a large capex program
to maintain production and a very large growth capex program to
increase production and develop its large proved undeveloped
reserves base, which entails execution risk. The rating favorably
recognizes the company's significant total proved reserves base,
advanced development plans and our expectation that its liquids
production, specifically condensate, will allow cash flows to grow
to levels supportive of the rating in the second half of 2015 .

7G's SGL-2 rating reflects its good liquidity. Pro forma for the
US$400 million notes, 7G will have about C$1 billion of cash and a
fully available C$480 million borrowing base revolving credit
facility (September 2017 maturity). We expect negative free cash
flow of about C$850 million in 2015, which will be funded from
cash. There are no debt maturities until 2020. Alternate liquidity
is limited given that substantially all of the company's assets are
pledged under the borrowing base revolver.

In accordance with Moody's Loss Given Default methodology, the
US$700 million and US$400 million senior unsecured notes are rated
one notch below the B1 CFR because of the existence of the
prior-ranking C$480 million secured revolver.

The positive outlook reflects our expectation that production will
increase significantly through 2016, improving leverage metrics
towards Ba levels.

The rating could be upgraded if 7G executes on its development
plan, increasing production towards 70,000 boe/d with about 35%
coming from condensate, while maintaining retained cash flow to
debt above 40% and E&P debt to production below US$25,000/boe.

The rating could be downgraded if 7G's production decreases
materially or if debt funded negative free cash flow leads to
retained cash flow to debt falling towards 20% or E&P debt to
production increasing towards US$40,000/boe.

Seven Generations Energy Ltd. is a Calgary, Alberta-based
exploration and production company with approximately 35 million
and 381 million barrels of equivalent oil (boe) of net proved
developed and total proved reserves, respectively, and average
daily production of 40,000 boe/d (net of royalties) for the fourth
quarter of 2014.

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.


SG BLOCKS: Marcum Expresses Going Concern Doubt
-----------------------------------------------
SG Blocks, Inc., filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K for the year ended Dec.
31, 2014.

Marcum LLP expressed substantial doubt about the Company's ability
to continue as a going concern, citing the Company's significant
operating losses.

The Company reported a net loss of $1.54 million on $6.04 million
of revenue for the year ended Dec. 31, 2014, compared with a net
loss of $2.16 million on $5.73 million of revenue in the prior
year.

The Company's balance sheet at Dec. 31, 2014, showed $1.35 million
in total assets, $4.68 million in total liabilities and total
stockholders' deficit of $3.33 million.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/ejPlW2
                          
New York-based SG Blocks, Inc., provides code engineered cargo
shipping containers.


SGX RESOURCES: Delays Filing of Statements; Applies for MCTO
------------------------------------------------------------
SGX Resources Inc. on April 23 disclosed that it will be late in
filing its annual financial statements and management discussion
and analysis ("MD&A") for the year ended December 31, 2014 on the
prescribed deadline of April 30, 2015.

The Company has made an application with the applicable securities
regulators under National Policy 12-203 - Cease Trade Orders for
Continuous Disclosure Defaults ("NP 12-203") requesting that a
management cease trade order be imposed in respect of this late
filing rather than an issuer cease trade order, but there is no
assurance that it will be granted.  The issuance of a management
cease trade order generally does not affect the ability of persons
who have not been directors, officers or insiders of the Company to
trade in their securities.

The Company has been unable to, up until this point, complete the
required filings due to a lack of capital to complete its audit.
As announced on March 3, 2015 and April 21, 2015 the Company has
closed the sale of a property for cash proceeds of $130,000 which
now provides the necessary capital to complete the audit.  The
Company anticipates that it will be able to prepare and file the
annual financial statements and MD&A on or prior to May 31, 2015.

The Company confirms that it will satisfy the provisions of the
alternative information guidelines under NP 12-203 by issuing
bi-weekly default status reports in the form of news releases for
so long as it remains in default of the filing requirements to file
its financial statements and MD&A within the prescribed period of
time.  The Company confirms that there is no other material
information relating to its affairs that has not been generally
disclosed.

SGX Resources Inc. -- http://www.sgxresources.com/-- is a Canadian
gold exploration and development company with properties located in
the Timmins region of Ontario, Canada.


SHIROKIA DEVELOPMENT: Hearing on Stay Relief Motion Moved to May 20
-------------------------------------------------------------------
The Bankruptcy Court, according to Shirokia Development, LLC's case
docket, adjourned to May 20, 2015, at 11:00 a.m., the hearing to
consider the motion for relief from stay filed by secured creditor
38th Avenue Realty, LLC.  As reported in the Troubled Company
Reporter on Nov. 11, 2014, the secured creditor said in the lift
stay motion it intends to proceed with the foreclosure proceeding
styled -- 38th Avenue Realty LLC., plaintiff against Shirokia
Development, LLC., the Board of Managers of the Shirokia Tower
Condominium c/o Shirokia Development, LLC, United International
Bank, Xi Liang Liu, defendants, pending in the Supreme Court of the
State of New York, County of Queens.

                          About Shirokia

Shirokia Development, LLC, a real property owner in Flushing, New
York, currently being controlled by a receiver, filed a Chapter 11
bankruptcy petition in Manhattan, on Aug. 12, 2014.

Hong Qin Jiang signed the petition as authorized individual.  The
Debtor disclosed, in an amended schedules total assets of $28.4
million and total liabilities of $16.8 million.  The Debtor has
tapped Dawn Kirby Arnold, Esq., at DelBello Donnellan Weingarten
Wise & Wiederkehr, LLP, as counsel.

The Chapter 11 plan that will be funded with the net proceeds from
the refinance or sale of the Debtor's property.  At an auction, 38
AR will be entitled to and have the absolute right to credit bid
the full amount of its secured claim.


SIMBAKI LTD: December Rent Classified as Ch.11 Admin Expense
------------------------------------------------------------
Bankruptcy Judge Marvin Isgur in his April 3, 2015 Memorandum
Opinion, in the case docketed as IN RE: SIMBAKI, LTD; dba BERRYHILL
BAJA GRILL; dba BERRYHILL BAJA GRILL & CANTINA, Chapter 7,
Debtor(s), CASE NO. 13-36878, held that Debtor Simbaki, Ltd.
"incurred a contractual obligation to pay the December rent on
December 1, 2014. This obligation was not modified by the Court's
November 10, 2014 order. Because the obligation was incurred before
the case converted to chapter 7, it must be classified as a chapter
11 administrative expense.

A copy of Judge Isgur's Memorandum Opinion is available at
http://is.gd/FJcELyfrom Leagle.com.  

Simbaki Ltd. -- dba Berryhill Baja Grill, and Berryhill Baja Grill
& Cantina -- filed for Chapter 11 bankruptcy (Bankr. S.D. Tex. Case
No. 13-36878) on November 4, 2013, listing under $1 million in both
assets and liabilities.  Simbaki operated two Berryhill Baja Grill
franchises in Montrose and Baybrook.  A copy of the petition is
available at http://bankrupt.com/misc/txsb13-36878.pdf. Simbaki is
represented by Calvin C. Braun, Esq., at Orlando & Braun, LLP, as
counsel.  

The United States Trustee filed a motion to convert the case to
chapter 7 or dismiss with prejudice on October 6, 2014. At a
hearing on the motion to convert or dismiss on November 10, 2014,
secured creditor Enterprise Bank announced that it had located a
potential buyer for the restaurant franchises. The Court issued an
order on the same date, stating that the case would be dismissed or
converted on December 9, 2014 unless Enterprise Bank filed a
chapter 11 plan that conformed with the Court's requirements.
However, Enterprise was unable to finalize the deal with the
potential buyer. On December 9, 2014 the Court issued an order
converting the case to a chapter 7. Rodney Tow was appointed as
Chapter 7 Trustee on December 9, 2014.


SPEEDEMISSIONS INC: Incurs $773,000 Net Loss in 2014
----------------------------------------------------
Speedemissions, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$773,000 on $5.57 million of revenue for the year ended Dec. 31,
2014, compared with a net loss of $814,000 on $7.09 million of
revenue for the year ended Dec. 31, 2013.

As of Dec. 31, 2014, Speedemissions had $828,000 in total assets,
$1.29 million in total liabilities, $4.57 million in series A
convertible redeemable preferred stock, and a $5.04 million total
shareholders' deficit.

Porter Keadle Moore, LLC, in Atlanta, Georgia, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has suffered
recurring losses from operations and has a capital deficiency that
raises substantial doubt about its ability to continue as a going
concern.

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

                        http://is.gd/MCkjkc

                       About Speedemissions

Tyrone, Georgia-based Speedemissions, Inc., is a test-only
emissions testing and safety inspection company.


STELLAR BIOTECHNOLOGIES: To Sell $100-Mil. Worth of Securities
--------------------------------------------------------------
Stellar Biotechnologies, Inc. filed with the Securities and
Exchange Commission a registration statement on Form S-3 relating
to the sale of up to $100,000,000 aggregate of common shares,
warrants to purchase common shares and units.  

The Company is an "emerging growth company" as defined under the
JOBS Act and are organized under the laws of British Columbia.  Its
common shares are listed on the TSX Venture Exchange in Canada and
trade under the symbol "KLH."  The Company's common shares are also
quoted on the OTCQB Marketplace under the symbol "SBOTF."  If the
Company decides to seek a listing of any securities offered by this
prospectus on any other exchange or market, the applicable
prospectus supplement will disclose the exchange or market on which
those securities will be listed, if any, or where the Company has
made an application for listing, if any.

On April 21, 2015, the last reported sales price of the Company's
common shares on the TSX Venture Exchange was CDN$1.01 per share
(or the equivalent of US$0.83 per share on such date).

A copy of the Form S-1 prospectus is available for free at:

                        http://is.gd/2UsYdM

                           About Stellar

Port Hueneme, Cal.-based Stellar Biotechnologies, Inc.'s
business is to commercially produce and market Keyhole Limpet
Hemocyanin ("KLH") as well as to develop new technology related to
culture and production of KLH and subunit KLH ("suKLH")
formulations.  The Company markets KLH and suKLH formulations to
customers in the United States and Europe.

KLH is used extensively as a carrier protein in the production of
antibodies for research, biotechnology and therapeutic
applications.

Stellar Biotechnologies reported a net loss of $8.43 million on
$372,132 of total revenues for the year ended Aug. 31, 2014,
compared to a net loss of $14.5 million on $545,000 of total
revenues for the year ended Aug. 31, 2013.  The Company also
reported a net loss of $5.52 million for the year ended Aug. 31,
2012.

As of Dec. 31, 2014, the Company had $13.4 million in total
assets, $4.18 million in total liabilities and $9.23 million in
total shareholders' equity.


SVT MASTERS: Case Summary & 7 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: SVT Masters Corporation
        112 Crescent Dr.
        Glenview, IL 60025

Case No.: 15-14397

Chapter 11 Petition Date: April 23, 2015

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

Judge: Hon. Timothy A. Barnes

Debtor's Counsel: Ben L Schneider, Esq.
                  SCHNEIDER & STONE
                  8424 Skokie Blvd., Suite 200
                  Skokie, IL 60077
                  Tel: 847-933-0300
                  Fax: 847-676-2676
                  Email: ben@windycitylawgroup.com

Total Assets: $742,290

Total Liabilities: $1.62 million

The petition was signed by Mathew Nedumackal, president.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/ilnb15-14397.pdf


TECHPRECISION CORP: Assigns $3.7-Mil. Alleged Claim Against GTAT
----------------------------------------------------------------
TechPrecision Corporation, through its wholly owned subsidiary,
Ranor, Inc., entered into an assignment of claim agreement with
Citigroup Financial Products Inc.  Pursuant to the terms of the
Assignment Agreement, Ranor agreed to sell, transfer, convey and
assign to Citigroup all of Ranor's right, title and interest in and
to Ranor's unsecured claim against GTAT Corporation in the
aggregate amount of $3,740,956.

As previously disclosed, GTAT, together with certain of its direct
and indirect subsidiaries commenced voluntary cases under Chapter
11 of the Bankruptcy Code in the United States Bankruptcy Court for
the District of New Hampshire.  The GTAT Group's bankruptcy filing
caused an automatic stay in any arbitration proceedings in which
the GTAT Group is involved, including the arbitration proceeding
with Ranor.  The automatic stay under the Bankruptcy Code stayed
the arbitration with the GTAT Group as a matter of law.  The
Company's claim asserted in the Ranor Arbitration was then asserted
as an unsecured creditor claim in the GTAT Group's bankruptcy
case.

Pursuant to the Assignment Agreement, Citigroup will pay to Ranor
an initial amount equal to $1,122,286, subject to a 54.75%
holdback, such Holdback to be paid either:

   (A) upon receipt of written notice that the Claim (or any
       portion thereof) has been fully and finally allowed against

       GTAT as a non-contingent, liquidated, and undisputed
       general unsecured claim, been listed as non-contingent,
       liquidated, and undisputed on schedules filed by GTAT with
       the Bankruptcy Court, or appeared on the claim's agent's or

       trustee's or other estate representative's records, or has
       otherwise been conclusively and finally treated in the GTAT

       proceedings, as "allowed" or "accepted as filed"; or

   (B) the time period during which any party (including GTAT) is
       permitted to file an objection, dispute or challenge with
       respect to the Claim in the proceedings expires and no
       objection, dispute or challenge has been filed with respect

       to any portion of the Claim.  

If the total amount of the Claim is allowed against GTAT, then
Citigroup must pay the Company the entire Holdback; however; if the
amount of the Claim allowed is greater than $1,692,782 but less
than the total Claim amount, then Citigroup only has to pay the
Company an amount equal to the Holdback minus the product of 30%
multiplied by the difference between the total Claim amount and the
claim amount actually allowed against GTAT.  If the total amount of
the Claim allowed against GTAT is less than $1,692,782, then Ranor
may be obligated to repurchase, at Citigroup's election, any
portion of the Claim not allowed below $1,692,782 multiplied by
30%, plus interest at 7% per annum from April 21, 2015, through the
repurchase date on any portion of the claim Ranor is obligated to
repurchase from Citigroup.  

The Company said it cannot predict the amount at which the Claim
will be finally allowed or admitted in the GTAT bankruptcy
proceeding and cannot guarantee that it will receive any additional
payment on the Claim.

                        About TechPrecision

TechPrecision Corporation (OTC BB: TPCSE), through its wholly
owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical
Components Co., Ltd., globally manufactures large-scale, metal
fabricated and machined precision components and equipment.

TechPrecision reported a net loss of $7.09 million for the year
ended March 31, 2014, as compared with a net loss of $2.41 million
for the year ended March 31, 2013.

As of Dec. 31, 2014, the Company had $14.4 million in total
assets, $13.5 million in total liabilities and $937,000 in total
stockholders' equity.

KPMG LLP, in Philadelphia, Pennsylvania, issued a "going concern"
qualification on the consolidated financial statements for the
year ended March 31, 2013.  The independent auditors noted that
the Company was not in compliance with the fixed charges and
interest coverage financial covenants under their credit facility,
and the Bank has not agreed to waive the non-compliance with the
covenants.  Since the Company is in default, the Bank has the
right to accelerate payment of the debt in full upon 60 days
written notice.  The Company has suffered recurring losses from
operations, and the Company's liquidity may not be sufficient to
meet its debt service requirements as they come due over the next
twelve months.  These circumstances raise substantial doubt about
the Company's ability to continue as a going concern.


TRI-CITY COMMUNITY: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Tri-City Community Action Program, Inc.
        110 Pleasant Street
        Malden, MA 02148

Case No.: 15-11569

Chapter 11 Petition Date: April 23, 2015

Court: United States Bankruptcy Court
       District of Massachusetts (Boston)

Judge: Hon. Joan N. Feeney

Debtor's Counsel: John T. Morrier, Esq.
                  CASNER & EDWARDS, LLP
                  303 Congress Street
                  Boston, MA 02210
                  Tel: (617) 426-5900
                  Fax: (617) 426-8810
                  Email: morrier@casneredwards.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Charles Harak, director.

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


TRUMP ENTERTAINMENT: Judge Extends Deadline to Remove Suits
-----------------------------------------------------------
U.S. Bankruptcy Judge Kevin Gross has given Trump Entertainment
Resorts Inc. until August 5, 2015, to file notices of removal of
lawsuits involving the company and its affiliates.

               About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on
Sept. 9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13, 2104.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first lien
debt issued under their 2010 bankruptcy-exit plan.  The
Debtors also have trade debt in the amount of $13.5 million.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware in March confirmed Trump Entertainment Resorts, Inc., et
al.'s Third Amended Joint Plan of Reorganization and Disclosure
Statement pursuant to Section 1129 of the Bankruptcy Code.


TTM TECHNOLOGIES: Moody's Affirms 'B2' CFR, Outlook Stable
----------------------------------------------------------
Moody's Investors Service affirmed the B2 Corporate Family Rating
on TTM Technologies, Inc. and assigned ratings of Ba2, B2, and
Caa1, respectively, to the company's newly proposed ABL revolver,
first and second lien bank loans. Concurrently, Moody's has
withdrawn its existing ratings on TTM's originally proposed debt
structure following a change in the financing terms of the roughly
$900 million acquisition of Viasystems. At the completion of the
acquisition, Moody's will withdraw all existing Viasystems ratings.
The outlook is stable.

The proposed financing now includes $79 million in borrowings under
a $150 million US senior secured ABL revolver, a $775 million
senior secured term loan, and a $175 million second lien term loan.
The first lien secured term loan will comprise a significant
proportion of debt in the capital structure, and in turn is rated
in line with the B2 Corporate Family Rating ("CFR").

The B2 CFR reflects TTM's elevated financial leverage (Moody's
adjusted total debt to EBITDA in the low 4.0 times range following
acquisition) and the near-term challenges the company will face in
integrating the Viasystems operations, which suffered a series of
operating missteps in the past couple of years. Moreover, the
highly fragmented and competitive nature of the electronic printed
circuit board ("PCB") industry could limit the company's prospects
to grow revenues and achieve margin expansion to enable it to
rapidly delever.

The ratings are supported by increased scale, greater customer
diversification, and a broad array of high end product offerings to
customers. Viasystems' customer and product portfolio is generally
complementary to TTM, which will add meaningful contributions in
the automotive and communications infrastructure industries. The
combined resources of the two companies should enable TTM to
continue investing in R&D and state of the art manufacturing
facilities to stay on the leading edge of PCB fabrication, which
differentiates it from the Asian providers of commoditized PCBs.

The Ba2, LGD1 rating on the $150 million US senior secured ABL
revolver benefits from a superior collateral position relative to
the other classes of debt, while the B2, LGD3 rating on the $775
million senior secured term loan benefits from an asset pledge from
the company's domestic subsidiaries, but ranks below the collateral
backing the ABL. Both senior secured facilities benefit from the
new and existing junior debt at TTM. The company's second lien
secured term loan is rated Caa1, LGD5 reflecting the loan's more
junior position in the capital structure.

The stable rating outlook reflects Moody's expectation that TTM
will make steady progress in integrating Viasystems' operations and
will achieve targeted cost synergies.

Given the increased debt taken on with the acquisition and time
required to successfully integrate Viasystems, a rating upgrade is
unlikely over the next 12 months. Ratings could be upgraded as a
result of significant revenue and EBITDA expansion which leads to
significantly reduced leverage to below 3.0 times and improvement
in operating margins above 13%. Ratings could also be raised if the
integration leads to better working capital management and drives
higher cash flow from operations and improved free cash flow
stability.

Ratings could be downgraded if TTM's integration of Viasystems
results in deteriorating financial performance, revenue growth does
not materialize, or if the company experiences market share loss or
operational missteps. Ratings may also be downgraded if margins
erode further as a result of lower volumes, pricing pressures or
higher operating costs. Free cash flow deterioration would pressure
the rating. Financial leverage sustained above 5.0 times total
adjusted debt to EBITDA would also pressure ratings.
Rating Actions:

Issuer: TTM Technologies, Inc.

  -- First Lien Secured Term Loan due 2021: Assigned B2-LGD3

  -- First Lien ABL Revolver due 2020: Assigned Ba2-LGD1

  -- Second Lien Secured Term Loan due 2022: Assigned Caa1-LGD5

  -- Corporate Family Rating: Affirmed at B2

  -- Probability of Default Rating: Affirmed at B2-PD

  -- Speculative Grade Liquidity Rating: Affirmed at SGL-2

  -- First Lien Secured Term Loan due 2022: WR

  -- First Lien ABL Revolver due 2020: WR

  -- Second Lien Secured Term Loan due 2023: WR

  -- Outlook is Stable

Headquartered in Costa Mesa, CA, TTM is a provider of complex
multi-layer printed circuit boards (PCB) and electromechanical
solutions. Proforma revenue for the Viasystems acquisition for the
twelve months ended December 31, 2014 was $2.5 billion.

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


TXU CORP: 2017 Bank Debt Trades at 40% Off
------------------------------------------
Participations in a syndicated loan under which TXU Corp. is a
borrower traded in the secondary market at 60.45 cents-on-the-
dollar during the week ended Friday, April 24, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an increase of 0.59
percentage points from the previous week, The Journal relates. TXU
Corp. pays 450 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Oct. 10, 2017 and carries
Moody's Caa3 rating and Standard & Poor's CCC- rating.  The loan is
one of the biggest gainers and losers among 243 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.



UNI-PIXEL INC: Sets Operational Update Call for April 27
--------------------------------------------------------
UniPixel, Inc., will hold a conference call on Monday, April 27,
2015, at 4:30 p.m. Eastern time to discuss the recent acquisition
of the assets and operations of Atmel Corporation's XSense touch
sensors group and the Company's outlook.

UniPixel management will host the presentation, followed by a
question and answer period.

The call will be webcast live here, as well as via a link in the
Investors section of the Company's Website at
www.unipixel.com/investors.  Webcast participants will be able to
submit a question to management via the webcast player.

Date: Monday, April 27, 2015
Time: 4:30 p.m. Eastern time (3:30 p.m. Central time)
Webcast: http://public.viavid.com/index.php?id=114304

To participate in the conference call via telephone, dial
1-913-312-0699 and provide the conference name or conference ID
8200263. Please call the conference telephone number 10 minutes
prior to the start time so the operator can register your name and
organization.

If you have any difficulty with the webcast or connecting to the
call, please contact Liolios Group at 1-949-574-3860.

A replay of the call will be available after 7:30 p.m. Eastern time
on the same day through May 27, 2015, via the same link above, or
by dialing 1-858-384-5517 and entering replay ID 8200263.

                         About Uni-Pixel Inc.

The Woodlands, Tex.-based Uni-Pixel, Inc. (OTC BB: UNXL)
-- http://www.unipixel.com/-- is a production stage company    
delivering its Clearly Superior(TM) Performance Engineered Films
to the Lighting & Display, Solar and Flexible Electronics market
segments.

Uni-Pixel incurred a net loss of $25.7 million in 2014, a net loss
of $15.2 million in 2013 and a net loss of $9.01 million in 2012.
As of Dec. 31, 2014, Uni-Pixel had $34.91 million in total assets,
$7.55 million in total liabilities and $27.4 million in total
shareholders' equity.


VANTAGE DRILLING: 2019 Bank Debt Trades at 39% Off
--------------------------------------------------
Participations in a syndicated loan under which Vantage Drilling
Co. is a borrower traded in the secondary market at 61.20
cents-on-the-dollar during the week ended Friday, April 24, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 2.37 percentage points from the previous week, The Journal
relates.  The Company pays 400 basis points above LIBOR to borrow
under the facility.  The bank loan matures on April 4, 2019, and
carries Moody's B3 rating and Standard & Poor's B- rating.  The
loan is one of the biggest gainers and losers among widely-quoted
syndicated loans in secondary trading in the week ended Friday
among the 243 loans with five or more bids. All loans listed are
B-term, or sold to institutional investors.



VARIANT HOLDING: DIP Amendment Okayed Without Objections
--------------------------------------------------------
Richard M. Pachulski, Esq., at Pachulski Stang Ziehl & Jones LLP,
counsel to Variant Holding Company, LLC, informed the U.S.
Bankruptcy Court for the District of Delaware that no objections
were filed by the March 25 deadline with respect to the First
Amendment to the DIP Loan, Security and Guaranty Agreement.

Accordingly, Judge Brendan L. Shannon approved the First Amendment
to DIP Loan Agreement, between the Debtor, the guarantor-parties,
and the lenders BPC VHI, L.P., Beach Point Total Return Master
Fund, L.P., and Beach Point Distressed Master Fund, L.P., and
Cortland Capital Market Services LLC, as administrative agent.

The Debtor is authorized to obtain an extension of its postpetition
financing, on terms and subject to the conditions set forth in the
Amendment, in the aggregate amount of $10,750,000.

                      About Variant Holding

Variant Holding Company, LLC, commenced bankruptcy proceedings
under Chapter 11 of the U.S. Bankruptcy Code in Delaware (Case No.
14-12021) on Aug. 28, 2014, without stating a reason.

Tucson, Arizona-based Variant Holding estimated $100 million to
$500 million in assets and less than $100 million in debt.

The Debtor has tapped Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, as counsel.

Members holding the majority of the interests in the company,
namely Conix WH Holdings, LLC, Conix Inc., Numeric Holding
Company,
LLC, Walkers Dream Trust, and Variant Royalty Group, LP, signed
the
resolution authorizing the bankruptcy filing.


VERMILLION INC: Oracle Partners Reports 10.5% Stake as of April 24
------------------------------------------------------------------
As of April 24, 2015, Oracle Partners, L.P., may be deemed to
beneficially own 4,543,980 shares of Common Stock of Vermillion,
Inc., representing 10.54% of the outstanding shares of Common Stock
(based on 43,115,790 shares of Common Stock outstanding as of March
24, 2015, as reported by the Company.

Larry N. Feinberg, the managing member of Oracle Associates,
disclosed that as of April 24, 2015, he beneficially owns 8,695,515
shares of common stock of Vermillion or 19.9 percent equity stake.

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

                        http://is.gd/lWGYk9

                         About Vermillion

Vermillion, Inc., is dedicated to the discovery, development and
commercialization of novel high-value diagnostic tests that help
physicians diagnose, treat and improve outcomes for patients.
Vermillion, along with its prestigious scientific collaborators,
has diagnostic programs in oncology, hematology, cardiology and
women's health.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 09-11091) on March 30, 2009.  Vermillion's legal
advisor in connection with its successful reorganization efforts
wass Paul, Hastings, Janofsky & Walker LLP.  Vermillion emerged
from bankruptcy in January 2010.  The Plan called for the Company
to pay all claims in full and equity holders to retain control of
the Company.

Vermillion reported a net loss of $19.2 million in 2014, a net loss
of $8.81 million in 2013 and a net loss of $7.14 million in 2012.
As of Dec. 31, 2014, the Company had $24.2 million in total assets,
$4.91 million in total liabilities and $19.3 million in total
stockholders' equity.


VIGGLE INC: Obtains $1 Million New Loan From Executive Chairman
---------------------------------------------------------------
Robert F.X. Sillerman, the executive chairman and chief executive
officer of Viggle Inc., made an unsecured demand loan to the
Company totaling $1,000,000, bearing interest at the rate of 12%
per annum, according to a document filed with the Securities and
Exchange Commission.  The total principal amount of all those
demand loans to Mr. Sillerman is now $5,750,000.

The Company intends to use the proceeds from the New Loan to fund
working capital requirements and for general corporate purposes.
Because Mr. Sillerman is a director, executive officer and greater
than 10% stockholder of the Company, a majority of the Company's
independent directors approved the transaction.

                           About Viggle

New York City-based Viggle Inc. is a loyalty marketing company.
The Company has developed a loyalty program for television that
gives people real rewards for checking into the television shows
they are watching on most mobile operating system.  Viggle users
can redeem their points in the app's rewards catalog for items
such as movie tickets, music, or gift cards.

Viggle reported a net loss of $68.4 million on $18 million of
revenues for the year ended June 30, 2014, compared with a net
loss of $91.4 million on $13.9 million of revenues for the year
ended June 30, 2013.

As of Dec. 31, 2014, the Company had $72.1 million in total assets,
$51.02 million in total liabilities, $3.75 million in series C
convertible redeemable preferred stock, and $17.4 million in total
stockholders' equity.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
June 30, 2014.  The independent auditors noted that the Company
has suffered recurring losses from operations and at June 30,
2014, has a deficiency in working capital that raises substantial
doubt about its ability to continue as a going concern.


VISUALANT INC: To Sell $10 Million Worth of Common Shares
---------------------------------------------------------
Visualant, Incorporated, filed a Form S-1 registration statement
with the Securities and Exchange Commission relating to the
offering of shares of common stock with a proposed maximum
aggregate offering price of $10 million.

The Company's common stock is quoted on the OTCQB Marketplace,
operated by OTC Markets Group, under the symbol "VSUL".  The
Company has applied for listing of its common stock and the
warrants to be sold in this offering on The NASDAQ Capital Market
under the symbols "VSUL" and "VSULW", respectively.  No assurance
can be given that its application will be approved.  On April 21,
2015, the last reported sale price for the Company's common stock
on the OTCQB Marketplace was $0.07 per share.  The Company intends
to complete a reverse stock split of its outstanding common stock
prior to the completion of this offering.

A copy of the Form S-1 prospectus is available for free at:

                         http://is.gd/yjmbyj

                        About Visualant Inc.

Seattle, Wash.-based Visualant, Inc., was incorporated under the
laws of the State of Nevada on Oct. 8, 1998.  The Company
develops low-cost, high speed, light-based security and quality
control solutions for use in homeland security, anti-
counterfeiting, forgery/fraud prevention, brand protection and
process control applications.

Visualant reported a net loss of $1 million on $7.98 million of
revenue for the year ended Sept. 30, 2014, compared to a net loss
of $6.60 million on $8.57 million of revenue for the year ended
Sept. 30, 2013.   

The Company's balance sheet at Dec. 31, 2014, showed $3.22 million
in total assets, $9.47 million in total liabilities, and a
stockholders' deficit of $6.24 million.

PMB Helin Donovan, LLP, in Seattle, Washington, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Sept. 30, 2014.  The independent auditors noted that
the Company has sustained a net loss from operations and has an
accumulated deficit since inception.  These factors, according to
the auditors, raise substantial doubt about the Company's ability
to continue as a going concern.


WEST COAST: April 30 Hearing on Chapter 11 Trustee Appointment
--------------------------------------------------------------
The Bankruptcy Court will convene a hearing on April 30, 2015, at
2:30 p.m., to consider the application to appoint a Chapter 11
trustee, or, in the alternative appoint an examiner in the case of
West Coast Growers, Inc.

Tracy Hope Davis, U.S. Trustee for Region 17, moved the Court for
the relief stating that "cause" exists to appoint trustee based
upon:

   -- inherent and material conflicts of interests created and held
by current management rendering it incapable of performing its
respective fiduciary duty to each estate; and

   -- gross mismanagement or incompetence of current management as
evidenced by Charlotte Ellen Salwasser's abdication of management
to a corporate restructuring officer, by the filing of inaccurate
bankruptcy schedules and statements, and by the failure to timely
file her monthly operating report.

Mrs. Salwasser is the debtor in possession in her personal
bankruptcy case and, as the principal of Salwasser, Inc. and WCG,
acts as the fiduciary for those corporate debtors-in-possession.

The U.S. Trustee also stated these grounds in a memorandum of
points and authorities in support of her motion.

Declarations were made by Kristin A. McAbee, and Carla K. Cordero,
bankruptcy auditors for the Office of the U.S. Trustee, to support
the motion.

                      About West Coast Growers

West Coast Growers, Inc., a Kerman, California-based processor and
distributor of California raisins, sought Chapter 11 bankruptcy
protection (Bankr. E.D. Cal. Case No. 15-11079) on March 20, 2015,
in Fresno, California.  The case is assigned to Judge W. Richard
Lee.

Related entity Salwasser, Inc. (the 100% shareholder of WCG) also
sought bankruptcy protection on March 20, 2015 (Case No.
15-11080).
Charlotte Ellen Salwasser filed a Chapter 11 petition (Case No.
15-10705) on Feb. 26, 2015.  Ms. Salwasser an husband George
Salwasser are the principals and 50% shareholders of Salwasser,
Inc.  Mr. Salwasser is the president of WCG, and Ms. Salwasser is
the vice president and secretary of WCG.

West Coast Growers disclosed total assets of $10.1 million and
total liabilities of $59.6 million.

Hagop T. Bedoyan, Esq., Jacob L. Eaton, Esq., at Lisa A. Holder,
Esq., at Klein, Denatale, Goldner, Cooper, Rosenlieb & Kimball,
LLP, serve as West Coast Growers' attorneys.  Peter L. Fear, Esq.,
at Fear Law Group, P.C., represents Salwasser as counsel.


WET SEAL: CEO Says Self-Inflicted Issues Caused Bankruptcy
----------------------------------------------------------
Julia Horniacek at Fashionista.com reports The Wet Seal, Inc. CEO
Ed Thomas blamed "self-inflicted" issues -- not fast fashion --
forced the Company to file for Chapter 11 bankruptcy in January.
According to the report, the brand expects to have completely
updated its merchandise by July to better serve women ages 18 to
24, its core customer base.

                        About Wet Seal

The Wet Seal, Inc., and three affiliates -- The Wet Seal Retail,
Inc., Wet Seal Catalog, Inc., and Wet Seal GC, LLC -- filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 15-10081
to 15-10084) on Jan. 15, 2015.  The Debtors are a national
multi-channel retailer selling fashion apparel and accessory items
designed for female customers aged 13 to 24 years old.  The Wet
Seal, Inc., disclosed $215,254,952 in assets and $60,598,968 in
liabilities as of the Chapter 11 filing.

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq., and
Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP;
and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel.
FTI Consulting serves as the Debtors' restructuring advisor.  The
Debtors' investment banker is Houlihan Lokey.  The Debtors tapped
Donlin, Recano & Co., Inc. as claims and noticing agent.  

The petitions were signed by Thomas R. Hillebrandt, interim chief
financial officer.

B. Riley, the original DIP lender and plan sponsor, is represented
by Van C. Durrer, II, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP.

Versa Capital Management, LLC, and its affiliate, Mador Lending,
LLC, which was selected as the successful bidder at an auction, is
being advised by Greenberg Traurig LLP, Klehr Harrison Harvey
Branzburg LLP, and KPMG LLP.  

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors.


WET SEAL: Changes Company Name; Certificate of Amendment Filed
--------------------------------------------------------------
The Wet Seal, Inc., changed its name to "Seal123, Inc." on April
17, 2015, in accordance with the Asset Purchase Agreement with
Mador Lending, LLC, an affiliate of Versa Capital Management, LLC
as buyer.

A copy of the Certificate of Amendment effectuating the name change
is available at http://is.gd/KBn9Y0

                        About Wet Seal

The Wet Seal, Inc., and three affiliates -- The Wet Seal Retail,
Inc., Wet Seal Catalog, Inc., and Wet Seal GC, LLC -- filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 15-10081
to
15-10084) on Jan. 15, 2015.  The Debtors are a national
multi-channel retailer selling fashion apparel and accessory items
designed for female customers aged 13 to 24 years old.  Wet Seal
listed total assets of $92.8 million and total liabilities of
$103.4 million as of Nov. 1, 2014.  

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq.,
and
Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP;
and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel.
FTI Consulting serves as the Debtors' restructuring advisor.  The
Debtors' investment banker is Houlihan Lokey.  The Debtors tapped
Donlin, Recano & Co., Inc. as claims and noticing agent.  

The petitions were signed by Thomas R. Hillebrandt, interim chief
financial officer.

B. Riley, the original DIP lender and plan sponsor, is represented
by Van C. Durrer, II, Esq., at Skadden, Arps, Slate, Meagher &
Flom
LLP.

Versa Capital Management, LLC, and its affiliate, Mador Lending,
LLC, which was selected as the successful bidder at an auction, is
being advised by Greenberg Traurig LLP, Klehr Harrison Harvey
Branzburg LLP, and KPMG LLP.  

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors.  Pachulski Stang Ziehl & Jones LLP's Bradford J.
Sandler, Esq., Jeffrey N. Pomerantz, Esq., and Shirley S. Cho,
Esq., serve as the Committee's counsel.  The Committee tapped
Province Inc., as its financial advisor.


WET SEAL: Delays Filing of Annual Report on Form 10-K
-----------------------------------------------------
The Wet Seal, Inc. filed with the Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its Annual Report on Form 10-K for the fiscal year ended
January 31, 2015.

The Company has determined that it is unable to file the Form 10-K
in a timely manner and that it does not expect to be able to file
the Form 10-K within the 15-day extension permitted by the rules of
the Commission.

The Company cited its Chapter 11 bankruptcy filings.  Due to the
demands associated with the bankruptcy filing and related
activities, including a sale of substantially all of the Company's
assets under Section 363 of the Bankruptcy Code, the Company has
been unable to complete the preparation of the Form 10-K.  As a
result, the Company is unable, without unreasonable effort or
expense, to timely file its Form 10-K within the 15-day extension
provided by Rule 12b-25.

The Company added it is unable to provide a reasonable estimate of
its results of operations for the fiscal year ended January 31,
2015 due to the demands of the Company's bankruptcy cases and the
asset sale. The Company's bankruptcy cases are ongoing.
Accordingly, the Company cannot at this time estimate what
significant changes will be reflected in its results of operations
for the fiscal year ended January 31, 2015 compared to its results
of operations for the fiscal year ended February 1, 2014.

                        About Wet Seal

The Wet Seal, Inc., and three affiliates -- The Wet Seal Retail,
Inc., Wet Seal Catalog, Inc., and Wet Seal GC, LLC -- filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 15-10081
to
15-10084) on Jan. 15, 2015.  The Debtors are a national
multi-channel retailer selling fashion apparel and accessory items
designed for female customers aged 13 to 24 years old.  Wet Seal
listed total assets of $92.8 million and total liabilities of
$103.4 million as of Nov. 1, 2014.  

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq.,
and
Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP;
and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel.
FTI Consulting serves as the Debtors' restructuring advisor.  The
Debtors' investment banker is Houlihan Lokey.  The Debtors tapped
Donlin, Recano & Co., Inc. as claims and noticing agent.  

The petitions were signed by Thomas R. Hillebrandt, interim chief
financial officer.

B. Riley, the original DIP lender and plan sponsor, is represented
by Van C. Durrer, II, Esq., at Skadden, Arps, Slate, Meagher &
Flom
LLP.

Versa Capital Management, LLC, and its affiliate, Mador Lending,
LLC, which was selected as the successful bidder at an auction, is
being advised by Greenberg Traurig LLP, Klehr Harrison Harvey
Branzburg LLP, and KPMG LLP.  

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors.  Pachulski Stang Ziehl & Jones LLP's Bradford J.
Sandler, Esq., Jeffrey N. Pomerantz, Esq., and Shirley S. Cho,
Esq., serve as the Committee's counsel.  The Committee tapped
Province Inc., as its financial advisor.


WET SEAL: Langsdorf Named President, CEO, CFO & Secretary
---------------------------------------------------------
Nancy Lublin, John Mills, Kenneth Reiss, Edmond Thomas and Deena
Varshavskaya on April 15, 2015, resigned from their positions on
the board of directors of Seal123, Inc. (formerly known as The Wet
Seal, Inc.), effective concurrently with the closing of the asset
sale to Mador Lending, LLC, an affiliate of Versa Capital
Management, LLC as buyer.

In addition, concurrently with the closing of the Asset Sale,
Edmond S. Thomas, the Chief Executive Officer of the Company and a
member of the Board, was terminated from his positions with the
Debtors and removed from his position as an officer of the Company.


Thomas R. Hillebrandt, the interim Chief Financial Officer and
Secretary of the Company, was also terminated from his positions
with the Debtors and removed from his position as an officer of the
Company.

On April 15, 2015, the Board appointed Bill Langsdorf, 58, to the
positions of President, Chief Executive Officer, Chief Financial
Officer and Secretary of the Company, effective immediately upon
the closing of the Asset Sale. Mr. Langsdorf has served the Company
as a senior advisor since November 2014. Prior to joining the
Company in such role, Mr. Langsdorf served from February 2007 until
August 2013 as the Senior Vice President and Chief Financial
Officer of Tilly's, Inc., a specialty retailer based in Orange
County, California. In consideration for his service, Mr. Langsdorf
will receive cash compensation equal to $25,000 per month.

                        About Wet Seal

The Wet Seal, Inc., and three affiliates -- The Wet Seal Retail,
Inc., Wet Seal Catalog, Inc., and Wet Seal GC, LLC -- filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 15-10081
to
15-10084) on Jan. 15, 2015.  The Debtors are a national
multi-channel retailer selling fashion apparel and accessory items
designed for female customers aged 13 to 24 years old.  Wet Seal
listed total assets of $92.8 million and total liabilities of
$103.4 million as of Nov. 1, 2014.  

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq.,
and
Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP;
and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel.
FTI Consulting serves as the Debtors' restructuring advisor.  The
Debtors' investment banker is Houlihan Lokey.  The Debtors tapped
Donlin, Recano & Co., Inc. as claims and noticing agent.  

The petitions were signed by Thomas R. Hillebrandt, interim chief
financial officer.

B. Riley, the original DIP lender and plan sponsor, is represented
by Van C. Durrer, II, Esq., at Skadden, Arps, Slate, Meagher &
Flom
LLP.

Versa Capital Management, LLC, and its affiliate, Mador Lending,
LLC, which was selected as the successful bidder at an auction, is
being advised by Greenberg Traurig LLP, Klehr Harrison Harvey
Branzburg LLP, and KPMG LLP.  

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors.  Pachulski Stang Ziehl & Jones LLP's Bradford J.
Sandler, Esq., Jeffrey N. Pomerantz, Esq., and Shirley S. Cho,
Esq., serve as the Committee's counsel.  The Committee tapped
Province Inc., as its financial advisor.


WET SEAL: Versa Sale Closed; DIP Financing Terminated
-----------------------------------------------------
Seal123, Inc., formerly known as The Wet Seal, Inc., said the
closing of the sale of the Company's assets to Mador Lending, LLC,
an affiliate of Versa Capital Management, LLC as buyer, occurred on
April 15, 2015. The Asset Sale was conducted pursuant to the
provisions of Sections 105, 363 and 365 of the Bankruptcy Code and
was effected pursuant to the parties' Asset Purchase Agreement. The
Company received total consideration of $7,500,000 in cash and a
"credit bid" (as defined within the meaning of Section 363(k) of
the Bankruptcy Code) of all of the outstanding obligations owed by
the Company under that certain Senior Secured, Super-Priority
Debtor-in-Possession Credit Agreement, dated as of March 12, 2015,
between Mador and the Debtors. The Buyer also assumed specified
liabilities of the Debtors as set forth in the Asset Purchase
Agreement. The DIP Financing Agreement was terminated upon the
closing of the Asset Sale and concurrently therewith Mador released
all liens and security interests against the Debtors that were
granted in connection with the DIP Financing Agreement.

Wet Seal and its subsidiaries entered into the Asset Purchase
Agreement, dated as of March 12, 2015 (including a Letter Agreement
outlining agreed terms of an anticipated plan of reorganization)
with Mador, pursuant to which Mador agreed, subject to the terms of
the Asset Purchase Agreement, to purchase substantially all of the
assets of the Debtors.

                        About Wet Seal

The Wet Seal, Inc., and three affiliates -- The Wet Seal Retail,
Inc., Wet Seal Catalog, Inc., and Wet Seal GC, LLC -- filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 15-10081
to
15-10084) on Jan. 15, 2015.  The Debtors are a national
multi-channel retailer selling fashion apparel and accessory items
designed for female customers aged 13 to 24 years old.  Wet Seal
listed total assets of $92.8 million and total liabilities of
$103.4 million as of Nov. 1, 2014.  

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq.,
and
Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP;
and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel.
FTI Consulting serves as the Debtors' restructuring advisor.  The
Debtors' investment banker is Houlihan Lokey.  The Debtors tapped
Donlin, Recano & Co., Inc. as claims and noticing agent.  

The petitions were signed by Thomas R. Hillebrandt, interim chief
financial officer.

B. Riley, the original DIP lender and plan sponsor, is represented
by Van C. Durrer, II, Esq., at Skadden, Arps, Slate, Meagher &
Flom
LLP.

Versa Capital Management, LLC, and its affiliate, Mador Lending,
LLC, which was selected as the successful bidder at an auction, is
being advised by Greenberg Traurig LLP, Klehr Harrison Harvey
Branzburg LLP, and KPMG LLP.  

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors.  Pachulski Stang Ziehl & Jones LLP's Bradford J.
Sandler, Esq., Jeffrey N. Pomerantz, Esq., and Shirley S. Cho,
Esq., serve as the Committee's counsel.  The Committee tapped
Province Inc., as its financial advisor.


WILLIAM AND MICHELLE: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: William and Michelle Mullins Limited Liability Company
        7505 Canton Center Road
        Canton, MI 48187

Case No.: 15-46423

Chapter 11 Petition Date: April 23, 2015

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

Judge: Hon. Phillip J Shefferly

Debtor's Counsel: Jason W. Bank, Esq.
                  KERR, RUSSELL AND WEBER, PLC
                  500 Woodward Avenue, Suite 2500
                  Detroit, MI 48226
                  Tel: (313) 961-0200
                  Fax: (313) 961-0388
                  Email: jbank@kerr-russell.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Michelle Rodriguez, member.

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


WYLE SERVICES: Moody's Raises Corp. Family Rating to B1
-------------------------------------------------------
Moody's Investors Service upgraded the Corporate Family Rating and
Probability of Default Rating of Wyle Services Corporation to B1
and B1-PD from B2 and B2-PD, respectively, based on the meaningful
reduction in debt that has resulted in an improvement in the
company's credit metrics over the last year. The upgrade reflects
the expectation that credit metrics will be commensurate with the
B1 rating level over the intermediate term. Concurrently, Moody's
raised the the ratings of Wyle's senior secured revolving credit
facility and senior secured term loan by one notch to Ba3 from B1.
The ratings outlook is stable.

Ratings upgraded:

  -- Corporate Family Rating, to B1 from B2

  -- Probability of Default Rating, to B1-PD from B2-PD

  -- $35 million senior secured revolving credit facility due
     2019, to Ba3 (LGD-3) from B1 (LGD-3)

  -- $237 million outstanding ($250 million original face value)
     senior secured term loan B due 2021, to Ba3 (LGD-3) from B1
     (LGD-3)

  -- Outlook, Stable

The CFR upgrade incorporates Wyle's pace of debt repayment that has
exceeded the company's decline in EBITDA in recent periods stemming
from challenging market conditions in the defense services
industry. Defense budget pressures are reflected in the decline in
the company's backlog marked by delays in new awards and protest
activity. In our view, due to the aforementioned debt reductions,
credit metrics have strengthened sufficiently to absorb any
moderate softening in the company's operating performance over the
intermediate term. In addition, the company's plan to continue
reducing debt provides further cushion for a moderate degree of
margin pressure stemming from competitive pressures in the defense
industry. Approximately three quarters of the company's revenues
are derived from the Department of Defense. NASA-related sales are
also meaningful comprising over 15% of revenues. Fiscal year-ended
2014 debt/EBITDA improved to below 4.0 times versus 5.5 times prior
to the May 2014 refinancing, with EBIT/interest coverage improving
by one turn to almost 2.0 times since the same respective time
period.

Wyle's B1 corporate family rating is reflective of the company's
low leverage for the rating category, moderate revenue scale and
well-established and diversified position, primarily within the
Department of Defense and NASA. The company's effective management
of its liquidity position, continued focus on debt reduction and
presence on key program platforms is balanced against a generally
weak defense spending environment. Due to defense budget pressures,
the ratings also consider the prevalence of contract award delays
and higher levels of competition that negatively impact revenue
levels and operating margins in the defense services industry. The
government's focus on lowest cost, technically acceptable
procurement, as well as increased protest activity among
competitors is also considered.

The stable rating outlook is supported by Wyle's good liquidity
profile and expectation that the company will have modest earnings
growth and continued debt reduction.

Adverse rating implications would likely result from revenue and
earnings declines, a debt-financed acquisition that meaningfully
increases leverage metrics or a significant weakening of the
liquidity profile. Debt to EBITDA weakening and sustained over 5
times, as well as negative free cash flow generation could result
in a downgrade.

A positive outlook or ratings upgrade would be considered if Wyle
reduces leverage to below 3.0 times debt to EBITDA, with EBIT to
interest above 3 times on a sustained basis (on a Moody's adjusted
basis).

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

Wyle Services Corporation, headquartered in El Segundo, California,
is a provider of engineering and information technology services to
the federal government. The company generated 2014 revenue of
approximately $865 million. Wyle is majority-owned by the private
equity firm Court Square Capital.


YAKIMA AIRPORT LAND: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Yakima Airport Land Company, LLC
        456 SW 191st Street
        Normandy Park, WA 98166

Case No.: 15-12535

Chapter 11 Petition Date: April 23, 2015

Court: United States Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Hon. Marc Barreca

Debtor's Counsel: J J. Sandlin, Esq.
                  SANDLIN LAW FIRM P.S.
                  PO Box 1707
                  Prosser, WA 99350
                  Tel: 509-829-3111
                  Email: sandlinlaw@lawyer.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Daniel W. Langdon, managing member.

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


YELLOWSTONE MOUNTAIN: Lawyer Seeks Founder's Release from Jail
--------------------------------------------------------------
Patrick Fitzgerald, writing for Daily Bankruptcy Review, reported
that a lawyer for jailed real-estate developer Tim Blixseth is
asking a federal appellate court to order his immediate release
from a Montana jail.

According to the report, Mr. Blixseth's lawyer, Philip Stillman, is
asking the Ninth U.S. Circuit Court of Appeals to order the
developer's release from the Cascade County Detention Center in
Great Falls, Mont.  A District Court judge had jailed Mr. Blixseth
for contempt for failing to comply with an order to properly
account for millions of dollars he owes creditors, the report
related.

                     About Yellowstone Mountain

Located near Big Sky, Montana, Yellowstone Mountain Club LLC --
http://www.theyellowstoneclub.com/-- is a private golf and ski  
community with more than 350 members, including Bill Gates and Dan
Quayle.  The Company was founded in 1999.

Yellowstone Club and its affiliates filed for Chapter 11
bankruptcy (Bankr. D. Montana, Case No. 08-61570) on Nov. 10,
2008.  The Company's owner affiliate, Edra D. Blixseth, filed
a separate Chapter 11 petition on March 27, 2009 (Case No.
09-60452).

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & Green
PLLC represented Yellowstone.  The Debtors hired FTI Consulting
Inc. and Ronald Greenspan as CRO.  The official committee of
unsecured creditors were represented by Parsons, Behle and
Latimer; and James H. Cossitt, Esq., as counsel.  Credit Suisse,
the prepetition first lien lender, was represented by Skadden,
Arps, Slate, Meagher & Flom.

In June 2009, the Bankruptcy Court entered an order confirming
Yellowstone's Chapter 11 Plan.  Pursuant to the Plan, CrossHarbor
Capital Partners LLC acquired equity ownership in the reorganized
Club for $115 million.

Marc S. Kirschner, Esq., was appointed the Trustee of the
Yellowstone Club Liquidating Trust created under the Plan.


[*] 9th Annual Credit & Bankruptcy Symposium on May 7 to 8
----------------------------------------------------------
The 9th Annual Credit & Bankruptcy Symposium will be held at the
Mohegan Sun in Uncasville, Connecticut, May 7 to 8, 2015.  The
program features a view from the bench on the Final Report of the
ABI Commission to Study the Reform of Chapter 11, a discussion on
how financial opportunities can be seen differently by different
lenders, and a multi-disciplinary look at middle-market corporate
renewal and restructuring.

According to ABL Advisor, the annual event is sponsored by the
Connecticut Turnaround Management Association, American Bankruptcy
Institute, and New York Institute of Credit.  The report says that
bankruptcy, distressed debt and corporate renewal professionals
will hear three panels discuss Chapter 11 reform, transforming
credit risk, and strategies for corporate renewal and
restructuring.


[*] Latino Coalition Urges House Committee to Approve H.R. 870
--------------------------------------------------------------
The Latino Coalition (TLC), one of the largest membership and
advocacy organizations for Latino-owned small businesses, issued
the following statement urging the House Judiciary Committee to
approve H.R. 870 -- The Puerto Rico Chapter 9 Uniformity Act.  H.R.
870 was introduced by Resident Commissioner Pedro Pierlusi to
authorize Puerto Rico to enable its public instrumentalities to
obtain the same bankruptcy protection that is available in all 50
states:

"The Latino Coalition strongly supports passage of H.R. 870 because
it would improve the Puerto Rican economy and prevent a U.S.
taxpayer bailout costing as much as $164 billion," said Hector
Barreto, TLC's Chairman and Former Administrator of the U.S. Small
Business Administration.  "Our Constitution provides for a
bankruptcy process allowing for the orderly restructuring and
recovery of debts.  The U.S. citizens of Puerto Rico and its
government should have the same right as the governments in all 50
states to authorize municipal debt restructuring."

"If approved, H.R. 870 would improve Puerto Rico's financial
situation by providing investors and all other interests with
assurance if there is a default by an instrumentality or
municipality.  Such stability and investor confidence is necessary
for economic growth.  If the bill is not approved, then American
taxpayers face a bailout of $164 billion for Puerto Rico.
Therefore, The Latino Coalition urges the House Judiciary Committee
to protect taxpayers by taking prompt action to approve H.R. 870,"
Mr. Barreto added.

                   About The Latino Coalition

The Latino Coalition (TLC) -- http://www.thelatinocoalition.com--
was founded in 1995 by a group of Hispanic business owners from
across the country to research and develop policies relevant to
Latinos.  TLC is a non-profit nationwide organization with offices
in California, Washington, DC and Guadalajara, Mexico.  Established
to address policy issues that directly affect the well being of
Hispanics in the United States, TLC's agenda is to develop
initiatives and partnerships that will foster economic equivalency
and enhance overall business, economic and social development for
Latinos.  


[^] BOND PRICING: For the Week from April 20 to 24, 2015
--------------------------------------------------------
  Company              Ticker   Coupon  Bid Price Maturity Date
  -------              ------   ------  --------- -------------
21st Century
  Oncology Inc         RTSX      9.875   102.000      4/15/2017
AAR Corp               AIR       7.250   114.030      1/15/2022
Advanced Micro
  Devices Inc          AMD       6.000    99.866       5/1/2015
Advanced Micro
  Devices Inc          AMD       6.000    99.598       5/1/2015
Allen Systems
  Group Inc            ALLSYS   10.500    34.000     11/15/2016
Allen Systems
  Group Inc            ALLSYS   10.500    34.000     11/15/2016
Alpha Natural
  Resources Inc        ANR       9.750    39.813      4/15/2018
Alpha Natural
  Resources Inc        ANR       6.250    22.500       6/1/2021
Alpha Natural
  Resources Inc        ANR       3.750    36.250     12/15/2017
Alpha Natural
  Resources Inc        ANR       4.875    23.500     12/15/2020
Altegrity Inc          USINV    14.000    37.625       7/1/2020
Altegrity Inc          USINV    13.000    37.625       7/1/2020
Altegrity Inc          USINV    14.000    37.625       7/1/2020
American Eagle
  Energy Corp          AMZG     11.000    32.000       9/1/2019
American Eagle
  Energy Corp          AMZG     11.000    36.625       9/1/2019
American Tower Corp    AMT       7.000   112.017     10/15/2017
Arch Coal Inc          ACI       7.000    24.390      6/15/2019
Arch Coal Inc          ACI       7.250    23.467      6/15/2021
Arch Coal Inc          ACI       9.875    27.500      6/15/2019
Arch Coal Inc          ACI       8.000    42.500      1/15/2019
BPZ Resources Inc      BPZR      8.500    15.950      10/1/2017
Black Elk Energy
  Offshore Operations
  LLC / Black Elk
  Finance Corp         BLELK    13.750    80.150      12/1/2015
Caesars Entertainment
  Operating Co Inc     CZR      10.000    19.938     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR      12.750    21.438      4/15/2018
Caesars Entertainment
  Operating Co Inc     CZR      10.750    27.500       2/1/2016
Caesars Entertainment
  Operating Co Inc     CZR       6.500    34.800       6/1/2016
Caesars Entertainment
  Operating Co Inc     CZR      10.000    19.625     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR       5.750    36.250      10/1/2017
Caesars Entertainment
  Operating Co Inc     CZR      10.000    20.000     12/15/2015
Caesars Entertainment
  Operating Co Inc     CZR       5.750    12.625      10/1/2017
Caesars Entertainment
  Operating Co Inc     CZR      10.000    19.750     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR      10.000    19.750     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR      10.750    24.500       2/1/2016
Caesars Entertainment
  Operating Co Inc     CZR      10.000    19.375     12/15/2018
Cal Dive
  International Inc    CDVI      5.000    11.000      7/15/2017
Chassix Holdings Inc   CHASSX   10.000     5.000     12/15/2018
Chassix Holdings Inc   CHASSX   10.000     8.000     12/15/2018
Chassix Holdings Inc   CHASSX   10.000     8.000     12/15/2018
Colt Defense LLC /
  Colt Finance Corp    CLTDEF    8.750    31.000     11/15/2017
Colt Defense LLC /
  Colt Finance Corp    CLTDEF    8.750    30.750     11/15/2017
Colt Defense LLC /
  Colt Finance Corp    CLTDEF    8.750    30.750     11/15/2017
Dendreon Corp          DNDN      2.875    69.396      1/15/2016
Endeavour
  International Corp   END      12.000    20.000       3/1/2018
Endeavour
  International Corp   END      12.000     1.000       6/1/2018
Endeavour
  International Corp   END       5.500     1.984      7/15/2016
Endeavour
  International Corp   END      12.000    11.625       3/1/2018
Endeavour
  International Corp   END      12.000    11.625       3/1/2018
Energy Conversion
  Devices Inc          ENER      3.000     7.875      6/15/2013
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc          TXU      10.000     4.375      12/1/2020
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc          TXU      10.000     4.750      12/1/2020
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc          TXU       6.875     3.542      8/15/2017
Exide Technologies     XIDE      8.625     1.570       2/1/2018
Exide Technologies     XIDE      8.625     1.000       2/1/2018
Exide Technologies     XIDE      8.625     1.000       2/1/2018
FBOP Corp              FBOPCP   10.000     1.843      1/15/2009
FairPoint
  Communications
  Inc/Old              FRP      13.125     1.879       4/2/2018
Federal Home
  Loan Banks           FHLB      1.500    99.489     10/30/2020
Federal Home
  Loan Banks           FHLB      1.500    99.598     12/30/2020
Fleetwood
  Enterprises Inc      FLTW     14.000     3.557     12/15/2011
GT Advanced
  Technologies Inc     GTAT      3.000    35.000      10/1/2017
Hercules Offshore Inc  HERO     10.250    33.500       4/1/2019
Hercules Offshore Inc  HERO     10.250    32.875       4/1/2019
Hexion Inc             HXN       8.375    99.750      4/15/2016
James River Coal Co    JRCC      3.125     0.188      3/15/2018
Las Vegas Monorail Co  LASVMC    5.500     1.026      7/15/2019
Lehman Brothers
  Holdings Inc         LEH       4.000     9.500      4/30/2009
Lehman Brothers
  Holdings Inc         LEH       5.000     9.500       2/7/2009
Lehman Brothers Inc    LEH       7.500    10.500       8/1/2026
MF Global
  Holdings Ltd         MF        6.250    30.000       8/8/2016
MF Global
  Holdings Ltd         MF        1.875    26.500       2/1/2016
MF Global
  Holdings Ltd         MF        3.375    26.500       8/1/2018
MModal Inc             MODL     10.750    10.125      8/15/2020
Magnetation LLC /
  Mag Finance Corp     MAGNTN   11.000    32.750      5/15/2018
Magnetation LLC /
  Mag Finance Corp     MAGNTN   11.000    32.750      5/15/2018
Magnetation LLC /
  Mag Finance Corp     MAGNTN   11.000    32.750      5/15/2018
Milagro Oil & Gas Inc  MILARG   10.500    10.000      5/15/2016
Molycorp Inc           MCP       6.000     9.250       9/1/2017
Molycorp Inc           MCP       3.250     8.875      6/15/2016
Molycorp Inc           MCP       5.500    13.500       2/1/2018
NII Capital Corp       NIHD     10.000    46.250      8/15/2016
OMX Timber Finance
  Investments II LLC   OMX       5.540    19.000      1/29/2020
Powerwave
  Technologies Inc     PWAV      3.875     0.125      10/1/2027
Powerwave
  Technologies Inc     PWAV      1.875     0.125     11/15/2024
Powerwave
  Technologies Inc     PWAV      3.875     0.125      10/1/2027
Powerwave
  Technologies Inc     PWAV      1.875     0.125     11/15/2024
Quicksilver
  Resources Inc        KWKA      9.125    14.000      8/15/2019
Quicksilver
  Resources Inc        KWKA     11.000    14.000       7/1/2021
RAAM Global Energy Co  RAMGEN   12.500    21.022      10/1/2015
RadioShack Corp        RSH       6.750     5.063      5/15/2019
RadioShack Corp        RSH       6.750     3.492      5/15/2019
RadioShack Corp        RSH       6.750     3.492      5/15/2019
Sabine Oil & Gas Corp  SOGC      7.250    24.083      6/15/2019
Sabine Oil & Gas Corp  SOGC      9.750    12.750      2/15/2017
Sabine Oil & Gas Corp  SOGC      7.500    26.875      9/15/2020
Sabine Oil & Gas Corp  SOGC      7.500    26.500      9/15/2020
Sabine Oil & Gas Corp  SOGC      7.500    26.500      9/15/2020
Samson Investment Co   SAIVST    9.750    13.000      2/15/2020
Saratoga
  Resources Inc        SARA     12.500    12.000       7/1/2016
Savient
  Pharmaceuticals Inc  SVNT      4.750     0.225       2/1/2018
TMST Inc               THMR      8.000    16.250      5/15/2013
Terrestar
  Networks Inc         TSTR      6.500    10.000      6/15/2014
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU      15.000    13.500       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU      10.500    11.500      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU      15.000    13.750       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU      10.500    10.375      11/1/2016
Tunica-Biloxi
  Gaming Authority     PAGON     9.000    62.750     11/15/2015
US Shale
  Solutions Inc        SHALES   12.500    51.749       9/1/2017
US Shale
  Solutions Inc        SHALES   12.500    52.000       9/1/2017
Venoco Inc             VQ        8.875    38.500      2/15/2019
Walter Energy Inc      WLT       9.875     8.401     12/15/2020
Walter Energy Inc      WLT       8.500     8.000      4/15/2021
Walter Energy Inc      WLT       9.875     8.375     12/15/2020
Walter Energy Inc      WLT       9.875     8.375     12/15/2020


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2015.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
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The TCR subscription rate is $975 for 6 months delivered via
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                   *** End of Transmission ***