TCR_Public/150605.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, June 5, 2015, Vol. 19, No. 156

                            Headlines

AEREO, INC: Files Plan Supplement Ahead of June 8 Hearing
AEROGROW INTERNATIONAL: Files Conflict Minerals Report
AMERICAN APPAREL: Obtains TRO Versus Former CEO
AP-LONG BEACH: Hearing on Full-Payment Plan Moved to June 25
ARCH COAL: Bank Debt Trades at 30% Off

ARRAY BIOPHARMA: Sells CMC Business to Accuratus
ATOSSA GENETICS: Reports $3.34-Mil. Net Loss in Q1 Ending March 31
B&K COASTAL: Bid to Transfer Hanover Suit to Bankr. Court Denied
BINDER & BINDER: Seeks Nov. 12 Extension of Action Removal Deadline
C.W. MINING: Trustee Entitled to UEI Receivable, Dist. Ct. Says

CABLE ONE: Moody's Assigns First Time 'Ba3' Corporate Family Rating
CAESARS ENTERTAINMENT: 2017 Bank Debt Trades at 7% Off
CAESARS ENTERTAINMENT: Parent to Go Bankrupt If Creditors Win Suit
COLOR STAR: US Trustee Wants Quarterly Fees Paid
CONSOLIDATED COMMUNICATIONS: S&P Retains 'B-' Unsec. Notes Rating

CORPORATE EXECUTIVE: S&P Affirms 'BB' CCR on Debt Refinancing
DENREON CORP: Court Confirms Ch. 11 Plan of Liquidation
DIA-DEN LTD: Meeting of Creditors Scheduled for June 8
EL PASO CHILDREN'S: Needs Bankruptcy Trustee, Andy Krafsur Says
ELEPHANT TALK: Presented at LD Micro Invitational Conference

ELMIRA, NY: Moody's Cuts GO Rating on $11.2MM Debt to 'Ba1'
ENERGY & EXPLORATION: Debt Trades at 14% Off
FAMILY CHRISTIAN: 'Challenge' Period Extended to June 11
FORTESCUE METALS: Bank Debt Trades at 9% Off
FRAC SPECIALISTS:  Has Authority to Pay Employee Wages and Benefits

FRAC TECH: Bank Debt Trades at 17% Off
GETTY IMAGES: Bank Debt Trades at 18% Off
GLOBAL PARTNERS: Moody's Rates New $300MM Unsecured Notes 'B2'
GLOBALSTAR INC: Stockholders Elect Two Directors
GMG CAPITAL: Targets August Confirmation of Plan

GOLDEN COUNTY: Seeks to Sell Assets to Monogram Appetizers for $22M
GRACE CHURCH: Case Summary & 2 Largest Unsecured Creditors
GT ADVANCED: Extends DIP Solicitation Period to June 10
GT ADVANCED: Seeks Sept. 30 Extension of Plan Filing Date
GULF PACKAGING: Files Schedules of Assets and Liabilities

GYMBOREE CORP: Debt Trades at 24% Off
HARSCO CORP: Moody's Rates New $250MM Sr. Unsecured Notes 'Ba1'
HOLOGIC INC: Moody's Rates New $2.5-Bil. Bank Debt 'Ba1'
HORIZON LINES: Caspian No Longer a Shareholder as of May 29
IMPLANT SCIENCES: Files 2014 Conflict Minerals Report

IMRIS INC: Asks Court to Enforce Automatic Stay
IMRIS INC: Court Issues Joint Administration Order
IMRIS INC: Has Authority to Hire KCC as Claims & Noticing Agent
IMRIS INC: Wants to Be Recognized as Foreign Representative
ISTAR FINANCIAL: Stockholders Elect Six Directors

J. CREW: Debt Trades at 9% Off
JASON INDUSTRIES: Dronco Deal No Impact on Moody's Ratings
JUHL ENERGY: Incurs $545K Net Loss in First Quarter
KID BRANDS: Exclusive Period to File Plan Extended Until July 13
KMC REAL ESTATE: Plan Confirmation Orders Affirmed

LIFE TIME FITNESS: S&P Keeps BB- Rating on Upsized $1.5BB Sec. Debt
LSI RETAIL II: Files Full-Payment Plan; Dick Trust Objects
LSI RETAIL II: Wins Approval to Sell Assets for $15.6MM
METROPOLITAN HEALTH: S&P Cuts Rating on $127.8MM Bonds to 'BB'
MGM RESORTS: Stockholders Elect 11 Directors

MIDSTATES PETROLEUM: Issues $20 Million Third Lien Notes
MOLYCORP INC: Moody's Lowers CFR to 'Ca', Outlook Negative
MOLYCORP INC: Prepares to File for Bankruptcy Protection
MOUNTAIN GLACIER: Case Summary & 17 Largest Unsecured Creditors
MUSKEGON REDEVELOPMENT: Regains Apartment Building; In Chapter 11

NEPHROS INC: Receives Notice of Allowance for U.S. Patent
NEW HORIZONS HEALTH: Files for Ch 11 Bankruptcy; To Sell Assets
NIRVANA INC: Case Summary & 20 Largest Unsecured Creditors
NIRVANA INC: Files Chapter 11 to Sell Spring Water Business
NIRVANA INC: Seeks to Use Lenders' Cash Collateral

NORAM RESOURCES: Court Rules on Bids for Summary Judgment
NORCRAFT COS: S&P Withdraws 'B+' Corporate Credit Rating
NORTHWEST BANCORP: Files Schedules of Assets and Liabilities
PACIFIC DRILLING: Bank Debt Trades at 12% Off
PAPERWORKS INDUSTRIES: S&P Keeps 'B-' Sec. Notes Rating Over Add-on

PARHAM CONSTRUCTION: Case Summary & 20 Top Unsecured Creditors
PATRIOT COAL: Files Intent to Sell Assets Under Chapter 11 Plan
PATRIOT COAL: Restructuring Predicated on Failed Price Assumptions
PATRIOT COAL: Taps Centerview Partners as Investment Banker
PATRIOT COAL: Taps Kirkland & Ellis as Bankruptcy Counsel

PEABODY ENERGY: Debt Trades at 11% Off
PHOTOMEDEX INC: To Issue Add'l 3.2 Million Shares Under Plans
PLAYPOWER INC: Moody's Assigns 'B3' CFR, Outlook Stable
PRIMERA ENERGY: Voluntary Chapter 11 Case Summary
PRINCIPAL SOLAR: Has $1.22-Mil. Net Loss in First Quarter

PROTOM INTERNATIONAL: Files Schedules of Assets and Liabilities
RADIOSHACK CORP: Salus Seeks to Convert Ch. 11 Case to Ch. 7
RADIOSHACK CORP: Sweetgreen Wins Bidding for Boston Store Lease
RECOVERY CENTERS: Seeks to Sell 12th Ave. Property for $4.1-Mil.
RED PRAIRIE: 2018 Debt Trades at 3% Off

REICHHOLD HOLDINGS: Needs Until Sept. 28 to File Liquidating Plan
RESIDENTIAL CAPITAL: Objection to Panaszewicz Claim Sustained
RIVER CITY RENAISSANCE: Court Approves Settlement with CWCapital
RIVER CITY RENAISSANCE: Stay Imposed Pending Dismissal Bid Hearing
ROADMARK: Seeks Aug. 27 Extension to File Proposed Plan

ROCKWELL MEDICAL: To Issue 2 Million Shares Under Incentive Plan
ROCKWELL MEDICAL: To Offer $200 Million Common Shares
ROUNDY’S SUPERMARKET: Bank Debt Trades at 3% Off
SAAD INVESTMENTS: Seeks U.S. Recognition of Cayman Proceedings
SEADRILL LTD: Bank Debt Trades at 18% Off

SEVENTY SEVEN ENERGY: Moody's Lowers CFR to 'B2', Outlook Negative
SPECTRUM BRANDS: S&P Assigns 'BB' Rating on Secured Bank Facility
SPENDSMART NETWORKS: 2015 Annual Meeting Set for August 11
SPINE PAIN: Reports $346K Net Loss in First Quarter
STATE FISH: Bankruptcy Court Sets Claims Bar Dates

STOCKTON PUBLIC: S&P Raises Rating on 2006A Revenue Bonds to 'BB'
STRICKLAND AND DAVIS: 11th Cir. Affirms Dismissal of Appeals
SUNGUARD AVAILABILTY: Debt Trades at 6% Off
SUPER BUY FURNITURE: Seeks Issuance of Final Decree
TALLGRASS DEVELOPMENT: S&P Affirms Then Withdraws 'BB-' CCR

TENET HEALTHCARE: S&P Retains 'B' CCR After Term Note Add-On
TENET HEALTHCARE: To Sell $500 Million Senior Secured Notes
TRANSFIRST INC: Moody's Affirms 'B3' Corp. Family Rating
TRAVELBRANDS INC: Ontario Court Names KPMG as Monitor
US CENTRIFUGE: Case Summary & 20 Largest Unsecured Creditors

VALLEJO, CA: S&P Hikes Rating on 1999 COPs From 'BB-'
VANTAGE DRILLING: Bank Debt Trades at 17% Off
VICTORY ENERGY: Hires MLV & Co. as Financial Advisor
WASHINGTON MUTUAL: JPMorgan Wins Legal Battle
WELLESLEY REALTY: Suit Against Massachusetts Town Dismissed

WESTMORELAND COAL: Signs Contribution Agreement with WMLP
WESTMORELAND RESOURCE: Inks Contribution Agreement with WCC
WESTMORELAND RESOURCE: To Sell $86.2-Mil. Worth of Common Units
WET SEAL: Has Until Aug. 13 to File Chapter 11 Plan
XPO LOGISTICS: Moody's Rates New $2BB Unsecured Notes 'B1'

ZEP INC: Moody's Assigns 'B3' CFR & Rates Secured Loans 'B2'
[*] Bankruptcy Filings in Massachusetts Decreases 16.46% in May 201
[*] GlassRatner to Launch New Worldwide Insolvency Group
[*] New York's Rochester Bankruptcy Filings in Drops Over 18% in Ma
[*] Toledo, Ohio Bankruptcy Filings Drop 13% in May 2015

[^] BOOK REVIEW: BOARD GAMES - Changing Shape of Corporate Power

                            *********

AEREO, INC: Files Plan Supplement Ahead of June 8 Hearing
---------------------------------------------------------
Aereo, Inc., filed supplements to its Amended Chapter 11 Plan dated
April 24, 2015, ahead of the June 8 confirmation hearing.  The plan
supplements consist of the proposed order confirming the Plan and
the Liquidating Trust Agreement.  A copy of the plan supplement is
available for free at:

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

                       The Liquidating Plan

As reported by the Troubled Company Reporter, Aereo, a defunct
TV-streaming service provider, on April 24, 2015, filed amendments
to its proposed Chapter 11 plan and disclosure statement to include
the Debtor's settlement with TV broadcasters.

Aereo was a startup that grabbed over-the-air TV signals and
streamed them over the Internet to subscribers who paid $8 to $12 a
month.  Beginning in March 2012, shortly after the Debtor began
operating in New York, several major television broadcasting
networks, including ABC, CBS, NBC and other broadcasters, commenced
actions to stop Aereo's services on grounds that such transmissions
were public performances under the Copyright Act.  In June, the
Supreme Court ruled in favor of the broadcasters, forcing Aereo to
go out of business.

The Broadcasters filed proofs of claim against the Debtor totaling
in aggregate over $99 million.  Pursuant to a settlement with the
Broadcasters, although the Broadcaster Claims are allowed in full
in their filed amounts, the Debtor is required to pay to the
Broadcasters the aggregate sum of $950,000 in full and final
satisfaction of the Broadcasters' Claims, leaving all Estate funds
remaining after satisfying secured and priority claims for the
benefit of the other holders of General Unsecured Claims.

The Amended Plan proposes to treat claims and interests as
follows:

   -- Administrative claims, fee claims of professionals, priority
tax claims and remaining secured claims will be paid in full.
Estimated recovery: 100%

   -- Holders of unsecured claims in an amount of $1,000 or less
(convenience claims) will be paid the full amount of their claims.
Estimated recovery: 100%

   -- Holders of general unsecured claims each greater than $1,000
will split the $811,000 unsecured allocation.  Estimated recovery:
10.7%

   -- Holders of equity interests are not expected to receive
anything.  Estimated recovery: 0%

Only holders of general unsecured claims each greater than $1,000
are entitled to vote on the Plan.

A copy of the Amended Disclosure Statement filed April 24, 2015, is
available for free at:

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

                         About Aereo Inc.

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

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

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

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

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


AEROGROW INTERNATIONAL: Files Conflict Minerals Report
------------------------------------------------------
AeroGrow International, Inc. filed with the Securities and Exchange
Commission its conflict minerals report for the year ended Dec. 31,
2014.  The Company has determined that tantalum, tin, tungsten and
gold, collectively "Conflict Minerals," are necessary to the
functionality or production of its products.  

In 2014, AeroGrow contracted for the manufacture of products
containing Conflict Minerals but did not directly manufacture
products containing Conflict Minerals.

"We undertook due diligence measures, including surveying our
direct suppliers via an industry-standard survey template for
conflict minerals, to try to determine the sources of these
minerals, which we purchase through a complex supply chain.

Currently, we do not have sufficient information from our suppliers
or other sources to determine the country of origin of the conflict
minerals used in our products or identify the facilities used to
process those conflict minerals.  Therefore, we cannot exclude the
possibility that some of these conflict minerals may have
originated in the Democratic Republic of the Congo or an adjoining
country and are not from recycled or scrap sources," the Company
said in the report.

A copy of the Conflict Minerals Report is available at:

                        http://is.gd/SlYLZf

                          About AeroGrow

Boulder, Colo.-based AeroGrow International, Inc., is a developer,
marketer, direct-seller, and wholesaler of advanced indoor garden
systems designed for consumer use and priced to appeal to the
gardening, cooking, and healthy eating, and home and office decor
markets.

Aerogrow International reported a net loss attributable to common
shareholders of $4.13 million for the year ended March 31, 2014, a
net loss attributable to common shareholders of $8.25 million for
the year ended March 31, 2013, and a net loss of $3.55 million for
the year ended March 31, 2012.

As of Dec. 31, 2014, the Company had $12.27 million in total
assets, $10.98 million in total liabilities, all current and $1.28
million in shareholders' equity.


AMERICAN APPAREL: Obtains TRO Versus Former CEO
-----------------------------------------------
The Delaware Court of Chancery granted a motion of American
Apparel, Inc. for a temporary restraining order against Dov
Charney, the Company's former chief executive officer, according to
a document filed with the Securities and Exchange Commission.  The
Court has temporarily restrained Mr. Charney from breaching the
terms of the Nomination, Standstill and Support Agreement, dated
July 9, 2014.  

Among other things:

   (a) Mr. Charney is temporarily restrained from directly or
       indirectly seeking the removal of any member of the
       Company's board of directors, including by instigating,
       encouraging, acting in concert with or assisting any third
       party in seeking to do so, and, unless required by law,
       participating in any way in the Hubner v. Mayer case
      (pending in the Central District of California), the
       Rodriguez v. Mayer case (pending in the Delaware Court of
       Chancery) and all similar actions currently pending or that

       are filed while the Court’s order is in effect; and

   (b) Mr. Charney is temporarily restrained from making or
       causing to be made to any third party (including by press
       release or other statement to the press or media) any
       statement that disparages or negatively reflects on the
       Company or its current, former or future employees,
       officers or directors.

The Court also granted the Company's motion for expedited
discovery.

The Company, its directors and certain of its executive officers
and employees may be deemed to be participants in the solicitation
of proxies from stockholders in connection with the Company's 2015
Annual Meeting of Stockholders.  On May 29, 2015, the Company filed
a preliminary proxy statement with the U.S. Securities and Exchange
Commission in connection with the solicitation of proxies for the
2015 Annual Meeting.  Prior to the 2015 Annual Meeting, the Company
will furnish a definitive proxy statement to its stockholders,
together with a WHITE proxy card.

Stockholders will be able to obtain, free of charge, copies of the
2015 Proxy Statement, any amendments or supplements thereto and any
other documents (including the WHITE proxy card) when filed by the
Company with the SEC in connection with the 2015 Annual Meeting at
the SEC's Website (http://www.sec.gov),at the Company's Website
(http://www.americanapparel.net)or by contacting Chelsea A.
Grayson by phone at 213-488-0226, by email at
investors@americanapparel.net or by mail at American Apparel, Inc.,
Attn: Investor Relations, 747 Warehouse Street, Los Angeles,
California 90021.  In addition, copies of the proxy materials, when
available, may be requested from the Company’s proxy solicitor,
Innisfree M&A Incorporated, 501 Madison Avenue, 20th Floor, New
York, NY 10022 or toll-free at 888-750-5834.

                       About American Apparel

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

operates a leading wholesale business that supplies high quality
T-shirts and other casual wear to distributors and screen
printers.

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

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

American Apparel reported a net loss of $68.8 million in 2014, a
net loss of $106 million in 2013 and a net loss of $37.3
million in 2012.

As of March 31, 2015, the Company had $271 million in total assets,
$416 million in total liabilities and a $144 million total
stockholders' deficit.

                           *     *     *

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

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


AP-LONG BEACH: Hearing on Full-Payment Plan Moved to June 25
------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
has approved a stipulation providing that:

   * The hearing on confirmation of the Plan of Reorganization for
AP-Long Beach Airport LLC currently scheduled for June 18, 2015 at
2:00 p.m. (PDT) is continued to June 25, 2015 at 2:00 p.m. (PDT);

   * The deadline for filing and serving objections to confirmation
of the Plan is extended from June 4, 2015 @5:00 p.m. (PDT) to June
11, 2015 at 5:00 p.m. (PDT); and

  * The deadline by which the Debtor must file and serve its reply
in support of confirmation of the Plan is extended from June 11,
2015 @5:00 p.m. (PDT) to June 18, 2015 at 5:00 p.m. (PDT).

At the June 25 hearing, the Debtor will ask Judge Vincent P.
Zurzolo to confirm the Plan because it complies with every required
section of the Bankruptcy Code, the Federal Rules of Bankruptcy
Procedure and applicable non-bankruptcy laws relating to
confirmation thereof.

The Debtor has filed a reorganization plan that offers creditors
100 cents on the dollar plus interest and lets the owner retain
control of the Company.

All classes of creditors are unimpaired and are conclusively
presumed to have accepted the Plan.  The lone unimpaired class,
which is the membership interest of Abbey-Properties II LLC, voted
in favor of the Plan.

A copy of the Debtor's memorandum of points and authorities in
support of confirmation of the Plan is available for free at:

   http://bankrupt.com/misc/AP-Long_Beach_Plan_Brief.pdf

A copy of the declaration of Donald Abbey in support of
confirmation of the Plan is available for free at:

   http://bankrupt.com/misc/AP-Long_Beach_Plan_Abbey_Decla.pdf

A copy of the declaration of David P. Stapleton in support of
confirmation of the Plan is available for free at:

   http://bankrupt.com/misc/AP-Long_Beach_Plan_Stapleton_Decla.pdf

                    Specific Terms of the Plan

In full satisfaction of the DIP lender's claims, the DIP loan will
be converted to an exit financing in the amount of $38.5 million,
with interest rate of 10% per annum, and secured by first priority
liens on the Debtor's property.

Holders of general unsecured claims can expect payment on the
effective date of the Plan, which is estimated to be no later than
July 15, 2015, and in the amount of 100% of their allowed claims
plus interest at the federal judgment rate as of the Effective
Date.

Abbey-Properties II LLC's interests in the Debtor will be
transferred to a new company, LB Hangar 3205 LLC.  APII will be the
sole member of LB Hangar and thus will remain the ultimate owner of
100% of the Debtor.

According to the Debtor, the $131,690 held by the receiver, cash
collateral of the DIP Lender, an funds from Mr. Abbey will provide
funding for the payments under the Plan.

A clean copy of the Second Amended Disclosure Statement and Plan is
available for free at:

   http://bankrupt.com/misc/AP_Long_Beach_2nd_Am_DS.pdf

                         About AP-Long Beach

AP-Long Beach Airport LLC is a property-level subsidiary of The
Abbey Companies LLC.  The Abbey Companies and its more than 60
separate subsidiaries were founded by Donald G. Abbey.

AP-Long Beach Airport LLC is a single asset real estate that owns a
206,945-square foot building at Long Beach Airport, in Long Beach
California, that originally was an airplane hangar.  The building
is owned and operated by the company on land owned by, and leased
from, the City of Long Beach.

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

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

The Debtor disclosed $44.6 million in assets and $34.8 million in
liabilities as of the Chapter 11 filing.


ARCH COAL: Bank Debt Trades at 30% Off
--------------------------------------
Participations in a syndicated loan under which Arch Coal Inc. is a
borrower traded in the secondary market at 70.42 cents-on-the-
dollar during the week ended Friday, May 29, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
the June 2, 2015 edition of The Wall Street Journal.  

This represents a decrease of 0.25 percentage points from the
previous week, The Journal relates.  Arch Coal pays 500 basis
points above LIBOR to borrow under the facility.  

The bank loan matures on May 17, 2018, and carries Moody's Caa1
rating and Standard & Poor's B+ rating.  

The loan is one of the biggest gainers and losers among 247 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



ARRAY BIOPHARMA: Sells CMC Business to Accuratus
------------------------------------------------
Array BioPharma entered into an asset purchase agreement with
Accuratus Lab Services, Inc., pursuant to which Accuratus acquired
certain assets and assumed certain liabilities relating to Array's
chemistry, manufacturing and controls business in a transaction
that closed on June 1, 2015, according to a Form 8-K report filed
with the Securities and Exchange Commission.  

"The sale of the CMC business provides this world-class team the
opportunity to grow and achieve continued success, while continuing
to provide expert support to Array's drug discovery and development
programs," according to the report.

The transaction included the transfer of equipment, inventory and
third party contracts of Array relating to its CMC business as well
as Array's facilities lease in Longmont, Colorado and the retention
of approximately 33 Array CMC employees by Accuratus following the
closing.  Accuratus paid Array a cash purchase price at closing for
the CMC assets, and Array is entitled to receive additional
consideration for the CMC assets contingent upon achievement of
revenue targets for the CMC business during the first and second
year following the closing.

Each party has also agreed to indemnify and hold the other party
and its affiliates harmless from and against breaches of
representations and warranties or covenants under the Purchase
Agreement and related agreements, and certain other liabilities
identified in the Purchase Agreement, in each case subject to
certain minimums and caps.  Each party has also agreed to not
engage in certain activities in competition with the other party
for a period following closing.

                      About Array Biopharma

Boulder, Colo.-based Array BioPharma Inc. is a biopharmaceutical
company focused on the discovery, development and
commercialization of targeted small-molecule drugs to treat
patients afflicted with cancer and inflammatory diseases.  Array
has four core proprietary clinical programs: ARRY-614 for
myelodysplastic syndromes, ARRY-520 for multiple myeloma, ARRY-797
for pain and ARRY-502 for asthma.  In addition, Array has 10
partner-funded clinical programs including two MEK inhibitors in
Phase 2: selumetinib with AstraZeneca and MEK162 with Novartis.

Array Biopharma incurred a net loss of $85.3 million for the year
ended June 30, 2014, a net loss of $61.9 million for the year
ended June 30, 2013, and a net loss of $23.6 million for the year
ended June 30, 2012.

As of March 31, 2015, the Company had $208 million in total assets,
$158 million in total liabilities, and $50.2 million in total
stockholders' equity.

"If we are unable to generate enough revenue from our existing or
new collaboration and license agreements when needed or to secure
additional sources of funding, it may be necessary to
significantly reduce the current rate of spending through further
reductions in staff and delaying, scaling back, or stopping
certain research and development programs, including more costly
Phase 2 and Phase 3 clinical trials on our wholly-owned or co-
development programs as these programs progress into later stage
development.  Insufficient liquidity may also require us to
relinquish greater rights to product candidates at an earlier
stage of development or on less favorable terms to us and our
stockholders than we would otherwise choose in order to obtain up-
front license fees needed to fund operations.  These events could
prevent us from successfully executing our operating plan and, in
the future, could raise substantial doubt about our ability to
continue as a going concern," according to the quarterly report
for the period ended Sept. 30, 2014.


ATOSSA GENETICS: Reports $3.34-Mil. Net Loss in Q1 Ending March 31
------------------------------------------------------------------
Atossa Genetics, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $3.34 million on $1.87 million of revenues
for the three months ended March 31, 2015, compared with a net loss
of $2.41 million on $24,100 of revenue for the same period in
2014.

Aside from the $3.34 million loss, the Company used $3.0 million of
cash in operating activities during the quarter ended March 31,
2015.  As of March 31, the Company had approximately $9.7 million
in cash and cash equivalents and working capital of approximately
$7.9 million.  The Company has not yet established an ongoing
source of revenue sufficient to cover its operating costs and allow
it to continue as a going concern, according to the regulatory
filing.

The Company's balance sheet at March 31, 2015, showed $13.8 million
in total assets, $3.52 million in total liabilities, and
stockholders' equity of $10.28 million.

A copy of the Form 10-Q is available at:

                       http://is.gd/nlX4dG

Atossa Genetics, Inc., is a Delaware corporation with principal
executive offices located in Seattle, Washington.  Atossa is a
development-stage healthcare company.  The Company is focused on
the commercialization of cellular and molecular diagnostic risk
assessment products and related services for the detection of pre-
cancerous conditions that could lead to breast cancer, and on the
development of second-generation products and services.

BDO USA, LLP, expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company has
suffered recurring losses from operations and has an accumulated
deficit.

The Company reported a net loss of $14.7 million on $526,000 of
total revenue for the year ended Dec. 31, 2014, compared with a net
loss of $10.8 million on $633,000 of total revenue in 2013.


B&K COASTAL: Bid to Transfer Hanover Suit to Bankr. Court Denied
----------------------------------------------------------------
In the case captioned THE HANOVER INSURANCE COMPANY, Plaintiff, v.
CAPE FEAR PAVING, LLC, et al., Defendants, NO. 7:14-CV-276-BO
(E.D.N.C.), District Judge Terrence W. Boyle denied defendant
Theresa Graham's motion for a referral to bankruptcy court.

On November 24, 2014, Hanover filed a complaint for indemnity and
equitable relief asserting claims against Cape Fear Paving, LLC,
Mast Development, LLC and Ms. Theresa Graham.  Graham filed a
motion for referral to the United States Bankruptcy Court for the
Eastern District of North Carolina.

Hanover's complaint is based upon two indemnity agreements in favor
of Hanover dated August 26, 2005, and August 9, 2011. The 2005
indemnity agreement was executed by Cape Fear Paving, Mast, Graham,
James Keith Stark, B&K Coastal, LLC, Riverfront Company, LLC, and
Malmo Asphalt Plant, LLC. The 2011 indemnity agreement was executed
by Cape Fear Paving, Stark, B&K, Malmo Asphalt, and Riverfront. On
November 9, 2011, and August 20, 2013, respectively, B&K and Stark
filed separate petitions seeking relief under Chapter 11 of the
Bankruptcy Code in the United States Bankruptcy Court for the
Eastern District of North Carolina. Hanover has filed proofs of
claim in both bankruptcy cases. Each proof of claim is based upon
the 2005 indemnity agreement, the 2011 indemnity agreement, and
Hanover's common law right of indemnification, and each asserts a
claim in the amount of approximately $1.5 million with a liquidated
amount of approximately $100,000.00.

Mast filed a proof of claim in the B&K bankruptcy case based upon
two notes under which approximately $2 million is allegedly due and
owing. This proof of claim did not mention either the 2005 or 2011
indemnity agreement or any contribution action against B&K and
Stark. Graham filed a proof of claim in the Stark bankruptcy case
based upon her complaint against Stark in the New Hanover County
District Court. This claim is filed in an unknown amount, and does
not mention the 2005 or 2011 indemnity agreement or any
contribution action against B&K and Stark.

In his order dated May 5, 2015 and available at http://is.gd/MfvfTu
from Leagle.com, Judge Boyle denied Graham's motion and held that
the bankruptcy court lacks subject matter jurisdiction because the
case is neither a core proceeding or one that is related to a
bankruptcy case.

The Hanover Insurance Company, Plaintiff, represented by Melissa J.
Hughes -- mhughes@manierherod.com -- Manier & Herod, P.C., Robert
W. Miller -- rmiller@manierherod.com -- Manier & Herod, P.C. &
Jeffrey S. Price -- jprice@manierherod.com -- Manier & Herod,
P.C..

Cape Fear Paving, LLC, Defendant, represented by Kyle J. Nutt --
knutt@shipmanlaw.com -- Shipman and Wright, LLP.

Mast Development, LLC, Defendant, represented by George B. Mast --
george@mastfirm.com -- Mast, Mast, Johnson, Wells & Trimyer, P.A. &
Lily Blair Rivers Van Patten -- lily@mastfirm.com -- Mast Law
Firm.

Teresa Graham, Defendant, represented by Joseph Z. Frost, Stubbs &
Perdue, P.A., Matthew W. Buckmiller, Shipman and Wright, LLP &
Trawick H. Stubbs, Jr., Stubbs & Perdue, PA.

Teresa Graham, Counter Claimant, represented by Joseph Z. Frost,
Stubbs & Perdue, P.A., Matthew W. Buckmiller, Shipman and Wright,
LLP & Trawick H. Stubbs, Jr., Stubbs & Perdue, PA.

The Hanover Insurance Company, Counter Defendant, represented by
Jeffrey S. Price, Manier & Herod, P.C..

                         About B&K Coastal

B&K Coastal, LLC, filed for Chapter 11 bankruptcy (Bankr. E.D.N.C.
Case No. 11-08609) on Nov. 9, 2011.  B&K Coastal does business as
Cape Fear Paving, Bay Street Properties LLC, Universal
Transloaders, Riverfront Company LLC, Forestry Division, Malmo
Asphalt Plant LLC, and Wilmington Materials.  George M. Oliver,
Esq., at Oliver Friesen Cheek, PLLC, serves as the Debtor's
counsel.  In its petition, B&K Coastal estimated $1 million to $10
million in assets, and $10 million to $50 million in debts.  A list
of the Company's 20 largest unsecured creditors filed together with
the petition is available for free at
http://bankrupt.com/misc/nceb11-08609.pdf The petition was signed
by J. Keith Stark, managing member.


BINDER & BINDER: Seeks Nov. 12 Extension of Action Removal Deadline
-------------------------------------------------------------------
Binder & Binder - The National Security Disability Advocates (NY),
LLC, and its debtor affiliates, ask the U.S. Bankruptcy Court for
the Southern District of New York to extend the time to file
notices of removal of civil actions to the later of November 12,
2015, or 30 days after the entry of the order terminating the
automatic stay as to a particular Civil Action.

This is the second time the Debtors have asked for an extension.
The initial deadline which was set to expire on March 17, 2015, was
extended by prior order of the Court to July 14, 2015.

Cassandra M. Porter, Esq., at Lowenstein Sandler LLP, in New York,
tells the Court that the Debtors obtained alternative
debtor-in-possession financing, has negotiated modifications to
several collective bargaining agreements with the labor union,
continues to assess and analyze operations and office locations as
required under their DIP financing, and has commenced discussions
with various parties in interest regarding restructuring options.

Ms. Porter further tells the Court that during the same period, the
Debtors have also engaged in settlement discussions with third
parties in connection with certain civil actions in an attempt to
amicably resolve those matters, and, in turn, avoid the additional
time and costs involved with a potential removal of those actions.
Ms. Porter notes, however, that the Debtors require additional time
to explore settlement discussions prior to making a decision
whether a Civil Action should be removed.  Ms. Porter says it would
be cost effective and prudent for the Debtors to continue these
efforts before making a decision about whether a particular Civil
Action should be removed.   

The Debtors represented by:

        Kenneth A. Rosen, Esq.
        Mary E. Seymour, Esq.
        Cassandra M. Porter, Esq.
        Nicholas B. Vislocky, Esq.
        LOWENSTEIN SANDLER LLP
        1251 Avenue of the Americas, 17th Floor
        New York, NY 10020
        Telephone: (212)262-6700
        Facsimile: (212)262-7400         
        Email: krosen@lowenstein.com
               mseymour@lowenstein.com
               cporter@lowenstein.com
               nvislocky@lowenstein.com

                     About Binder & Binder

Founded in 1979 by brothers Harry and Charles Binder, Binder &

Binder is the nation's largest provider of social security

disability and veterans' benefits advocacy services, with operating
scale and efficiencies unrivaled by its competitors in the highly
fragmented advocacy market. The company has more than 950 employees
in 35 offices across the United States. In 2010, H.I.G. Capital,
LLC acquired a controlling equity interest in the
company.



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



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



The U.S. Trustee appointed an Official Committee of
Unsecured
Creditors in the Debtors' cases. The Committee is now
comprised of
 (i) United Service Workers Union, Local 455 IUJAT &
Related Funds,
 (ii) T&G Industries, Inc., (iii) WB Mason Co.,
and (iv) Teaktronics, Inc.




C.W. MINING: Trustee Entitled to UEI Receivable, Dist. Ct. Says
---------------------------------------------------------------
District Judge Tena Campbell affirmed the bankruptcy court's
decision in the case captioned KENNETH A. RUSHTON, Trustee,
Plaintiff/Appellee, v. STANDARD INDUSTRIES, INC.; ABM, INC.;
FIDELITY FUNDING COMPANY; SECURITY FUNDING INC; and WORLD
ENTERPRISES, Defendants/Appellants. v. AQUILA, INC., Third Party
Defendant/Appellee, CASE NO. 2:14-CV-272-TC, ADVERSARY PROCEEDING
NO. 09-02047 (D. Utah)

Standard and other appellants appealed a decision of the bankruptcy
court in an adversary proceeding which held that the party who is
entitled to approximately $2.8 million in coal proceeds held by
UtahAmerican Energy, Inc. is the Trustee for the benefit of the
creditors of the estate of C.W. Mining Company.  Standard contends
that it has a special interest by virtue of its assignment
agreement with CWM that gives it priority in distribution of the
UEI Receivable.

Judge Campbell agreed with the bankruptcy court and found that
Standard and the other appellants did not perfect their interests
in the UEI Receivable and that Standard presented insufficient
evidence that it had an independent account with UEI.  Thus, the
Trustee is entitled to the UEI Receivable for the benefit of CWM
estate's creditors.

A copy of the May 8, 2015 memorandum decision and order is
available at http://is.gd/EU6Z2Rfrom Leagle.com.

Standard Industries, ABM, Fidelity Funding, Security Funding, and
World Enterprises, Appellants, represented by Kim R. Wilson --
krw@scmlaw.com -- SNOW CHRISTENSEN & MARTINEAU, Christopher W.
Droubay -- cwd@scmlaw.com -- SNOW CHRISTENSEN & MARTINEAU, David L.
Pinkston -- dlp@scmlaw.com -- SNOW CHRISTENSEN & MARTINEAU & P.
Matthew Cox -- pmc@scmlaw.com -- SNOW CHRISTENSEN & MARTINEAU.

ANR, Appellee, represented by David E. Kingston.

Hiawatha Coal Company, Appellee, represented by Peter W. Guyon.

Kenneth A. Rushton, represented by Michael N. Zundel --
mnz@princeyeates.com -- PRINCE YEATES & GELDZAHLER.

United States Trustee Office, Appellee, represented by John T
Morgan, US TRUSTEE'S OFFICE.

Aquila, and Gary E. Jubber, Appellees, represented by Brent D.
Wride -- bwride@rqn.com -- RAY QUINNEY & NEBEKER.

Gary E. Jubber, represented by Peter W. Billings --
Pbillings@fabianlaw.com -- FABIAN & CLENDENIN.

Gary E. Jubber, represented by Douglas J. Payne --
dpayne@fabianlaw.com -- FABIAN & CLENDENIN.

Bankruptcy Clerk's Office, Notice Party, Pro Se.

                    About C.W. Mining Company

C.W. Mining Company ("CWM") was the former owner of a coal mine in
Utah.  Based in Salt Lake City, Utah, C.W. Mining Co. dba Co-Op
Mining Company operated the Bear Canyon Mine in Emery County, Utah,
under the terms of a lease with C.O.P. Coal Development Company,
which owns the mine.  Aquila Inc., Owell Precast, LLC, and House of
Pumps, Inc., filed an involuntary Chapter 11 petition (Bankr. D.
Utah Case No. 08-20105) on Jan. 8, 2008.  In November 2008, the
Chapter 11 case was converted to a Chapter 7 liquidation
proceeding.  Kenneth A. Rushton serves as the Chapter 7 Trustee,
and is represented by Brent D. Wride, Esq., at Ray Quinney &
Nebeker, in Salt Lake City.  Gary E. Jubber later substituted Mr.
Rushton as Chapter 7 Trustee.


CABLE ONE: Moody's Assigns First Time 'Ba3' Corporate Family Rating
-------------------------------------------------------------------
Moody's Investors Service assigned Cable One, Inc. a first time Ba3
Corporate Family Rating and Ba3-PD Probability of Default Rating.
Moody's also assigned a B1 to the proposed $450 million senior
unsecured notes. The rating outlook is stable. Proceeds from new
debt instruments will be used to fund a $450 million special
dividend to Graham Holdings Company (parent company pre-spin-off),
an increase in balance sheet cash, and general corporate purposes.

Ratings Assigned:

Issuer: Cable One, Inc.

  -- Corporate Family Rating -- Ba3

  -- Probability of Default Rating -- Ba3-PD

  -- $450 Million Senior Unsecured Notes due 2022 -- B1 (LGD-4)

Rating Outlook:

  -- Outlook: stable

Cable ONE's Ba3 Corporate Family Rating reflects its pending
spin-off from Graham Holdings Company (Baa3, Review for Downgrade)
and Moody's expectation that the company will increase
debt-to-EBITDA above 3.0x (including Moody's standard adjustments)
within four years. Upon separation, initial debt-to-EBITDA is
expected to be 1.9x based on the company's proposal to raise $300
million of first lien credit facilities (including an undrawn $200
million revolver) and issue the newly rated $450 million senior
unsecured notes; however, management's plans for operations and
capital allocation include increasing reported leverage to a range
of 2.5x - 3.5x with additional debt issuances to fund acquisitions
and shareholder distributions. Ratings also incorporate the
company's small scale relative to other operators and risks
associated with management's acquisition strategy. Cable ONE has
been proactive in managing programming costs and has chosen to
avoid agreements that it estimates would reduce cash flow from its
video offerings. Although its video subscribers have declined
roughly 25% over the past two years, management estimates that cash
flow from video revenue has increased approximately 57% over the
same period. At the same time, the company is focused on growing
its residential HSD and commercial services businesses. Early in
2014, Cable ONE dropped carriage of Viacom content from its basic
video packages highlighting Cable ONE's strategy to shift its
product mix from lower margin video offerings to higher margin HSD
and commercial services. Programming expense is the largest single
operating expense for cable operators, and Moody's believe
management's strategy will help contain operating expenses over the
next 12 to 18 months.

Cable ONE benefits from a benign competitive landscape, as most of
its systems are located in rural midwest and southern areas, in
which less than 1% of its footprint competes with fiber-to-the-home
services. Despite the lack of meaningful broadband competition,
Cable ONE's HSD penetration of approximately 33% for 2014, up from
roughly 32% in 2013, lags the industry average of 40%, which
provides the company with potential revenue upside. Among issuers
Moody's rates and excluding overbuilders, Cable ONE lags each of
its peers in video penetration at about 34% for 2014, down from
around 39% in 2013 and below the estimated 39% industry average,
reflecting the decision to drop Viacom channels. Although there are
long term risks related to erosion of video subscribers, Moody's
believe the company's rural footprint and competitive HSD offerings
provide a buffer. Looking forward, Moody's expect the company to
further grow its HSD penetration over the next 12 to 18 months
while continuing to manage declines in video penetration. The Ba3
CFR is supported by Moody's expectation that
(EBITDA-Capex)/Interest Expense will initially be in the 4x range
(including Moody's standard adjustments) but then recede to the mid
to high 3x range with increasing cash interest payments as
additional debt is issued. Liquidity is expected to be good with
initial cash balances of $100 million plus low single digit
percentage free cash flow-to-debt despite elevated capital spending
of $190 million over the next 12 months as the company works to
enhance broadband speeds and overall network reliability. Moody's
expect capital spending to decrease after 2015 as most of the
company's network has already been upgraded.

The stable outlook reflects Moody's expectation that Cable ONE will
be able to grow EBITDA in the low single digit percentage range and
maintain positive free cash flow, despite being a full tax payer
and plans for quarterly dividends, with leverage expected to
increase to 3.0x (including Moody's standard adjustments) within
four years. In a scenario in which revenue growth from HSD and
commercial services is not realized, leverage and cash flow targets
necessary to sustain a Ba3 rating would likely be tightened.
Ratings could be downgraded if debt-to-EBITDA is sustained above
4.0x reflecting a change in fiscal policy or the inability to
achieve planned operating performance from potential acquisitions.
Deterioration of liquidity including reduced free cash flow
generation could also pressure ratings. The company's small scale
constrains ratings; however, Moody's could consider an upgrade if
Moody's are assured that debt-to-EBITDA would remain comfortably
below 3.0x (including Moody's standard adjustments) with improving
free cash flow generation and at least good liquidity. An upgrade
would also require a commitment to maintaining financial policies
and a credit profile consistent with a higher rating.

The principal methodology used in these ratings was Global Pay
Television - Cable and Direct-to-Home Satellite Operators published
in April 2013. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.

Headquartered in Phoenix, AZ, Cable ONE offers traditional and
advanced video services including digital television,
video-on-demand, high-definition television, as well as high-speed
Internet access and phone service. The company serves primarily
smaller cities in the mid western, southern, and northwestern US
and had roughly 490 thousand high-speed data (HSD) subscribers, 450
thousand video subscribers, and 150 thousand phone subscribers as
of December 31, 2014. Cable ONE generated net revenue of $815
million for FYE December 2014. Upon spin-off, initial shareholders
of Cable ONE will mirror current ownership of Graham Holdings with
larger holders including Donald Graham and Southeastern Asset
Management.


CAESARS ENTERTAINMENT: 2017 Bank Debt Trades at 7% Off
------------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment is a borrower traded in the secondary market at 92.58
cents-on-the- dollar during the week ended Friday, May 29, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in the June 2, 2015 edition of The Wall Street Journal.
  
This represents an increase of 0.16 percentage points from the
previous week, The Journal relates. Caesars Entertainment pays 875
basis points above LIBOR to borrow under the facility.
  
The bank loan matures on March 1, 2017, and carries Moody's
withdraws its rating and Standard & Poor's D rating.  

The loan is one of the biggest gainers and losers among 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



CAESARS ENTERTAINMENT: Parent to Go Bankrupt If Creditors Win Suit
------------------------------------------------------------------
Howard Stutz at Las Vegas Review-Journal relates that a favorable
ruling on the lawsuit creditors filed against Caesars Entertainment
Corp. over the sale of several casinos -- including Planet
Hollywood, Bally's Las Vegas and Harrah's New Orleans -- to
subsidiary Caesars Growth Partners in 2014 could force Caesars
Entertainment Corp. into bankruptcy due to the liabilities it would
owe.

Review-Journal relates that Caesars plans to merge Caesars Growth
Partners back into the parent operation after the bankruptcy of
Caesars Entertainment Operating Co. is concluded.

Caesars has "repeatedly argued in court, the parent guarantee was
validly terminated in accordance with the terms of the indentures,"
Bloomberg News quoted Caesars outside spokesperson Stephan Cohen of
Teneo Holdings as saying.

Bloomberg News reports that U.S. District Judge Shira Scheindlin
has ruled that the trustee representing the CEOC creditors can ask
her to rule on parts of their lawsuit without first holding a
trial.  

                   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.

                         *     *     *

The Troubled Company Reporter, on April 27, 2015, reported that
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.


COLOR STAR: US Trustee Wants Quarterly Fees Paid
------------------------------------------------
William T. Neary, the U.S. Trustee for Region 6, asks the U.S.
Bankruptcy Court for the Eastern District of Texas, Sherman
Division, to compel Color Star Growers of Colorado and its
affiliated debtors to immediately file their post-due quarterly
operating reports and to pay post-confirmation quarterly fees.

Timothy W. O'Neal, Assitant U.S. Trustee, tells the Court that the
reorganized Debtors have failed to file quarterly post-confirmation
operating reports for the periods ending December 31, 2014, and
March 31, 2015.  Mr. O'Neal further tells the Court that U.S.
Trustee quarterly fees imposed pursuant to 28 U.S.C. Section
1930(a)(6) have not been paid for these same quarters, and it is
not possible to calculate the fees owed in the absence of the
post-confirmation operating reports.  He adds that quarterly fees
are owed each quarter until this case is converted, dismissed or
closed by the court with the issuance of a final decree.

The United States Trustee is represented by:

          Timothy W. O'Neal
          Assistant U.S. Trustee
          UNITED STATES DEPARTMENT OF JUSTICE
          Office of the United States Trustee
          110 N. College, Suite 300
          Tyler, TX 75702
          Telephone: (903)590-1450
          Facsimile: (903)590-1461         

                        About Color Star

Color Star, a grower and wholesaler of flowers and nursery stock

with greenhouses and distribution centers in Colorado,
Missouri
 and Texas, filed for Chapter 11 bankruptcy protection
in December 
2013.



Color Star Growers of Colorado, Inc., and two affiliates filed

Chapter 11 bankruptcy petitions (Bankr. E.D. Tex. Case
Nos.
13-42959 to 13-42961) on Dec. 15, 2013, in Sherman, Texas.
The
 petitions were signed by Brad Walker, chief restructuring
officer.
 The Debtors estimated assets of at least $10 million
and 
liabilities of at least $50 million.



Marcus A. Helt, Esq., and Evan R. Baker, Esq., at Gardere Wynne

Sewell LLP, serve as the Debtors' counsel. Simon, Ray &
Winikka
 LLP serves as special conflicts counsel. SSG Advisors,
LLC 
provides investment banking services, and UpShot Services
LLC
 serves as claims, noticing and balloting agent.



The Official Committee of Unsecured Creditors appointed in the

Debtors' cases retained Gavin/Solmonese, LLC as financial

advisors; and Raymond J. Urbanik, Esq., Deborah M. Perry, Esq.,

Thomas Berghman, Esq., and Isaac J. Brown, Esq., at Munsch Hardt

Kopf & Harr, PC as attorneys.




CONSOLIDATED COMMUNICATIONS: S&P Retains 'B-' Unsec. Notes Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that its issue-level rating
on Mattoon, Ill.-based broadband communications provider
Consolidated Communications Inc.'s senior unsecured notes remains
'B-' following the announcement that the company plans to add on
$300 million to its existing $200 million 6.5% senior unsecured
notes due 2022.  The recovery rating on the notes is '6', which
indicates S&P's expectation for negligible (0%-10%) recovery of
principal in the event of payment default.

Consolidated Communications will use net proceeds from the notes to
repay approximately $227 million outstanding on its 10.875% senior
unsecured notes due 2020 and reduce approximately
$34 million of the outstanding $44 million amount on its
$75 million revolving credit facility maturing 2018.  S&P do not
expect the transaction to have an impact on credit measures,
including adjusted debt to EBITDA, which was 4.2x at the end of the
first quarter of 2015, although S&P expects modest improvement in
free operating cash flow due to the reduction in interest expense.

S&P's 'B+' corporate credit rating and stable outlook on
Consolidated Communications remain unchanged.  S&P believes the
company, as an incumbent telephone provider, will continue to face
intense competition from the incumbent cable providers and wireless
substitution in the residential segment, and from the cable
providers in the small and midsize business market. Moreover, S&P
expects that leverage will remain above 4x over the next couple of
years as modestly lower levels of EBITDA are offset by debt
repayment from free operating cash flow.

RATINGS LIST

Consolidated Communications Inc.
Corporate Credit Rating                B+/Stable/--
  $500 mil. 6.5% notes due 2022
  Senior Unsecured                      B-
   Recovery Rating                      6



CORPORATE EXECUTIVE: S&P Affirms 'BB' CCR on Debt Refinancing
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'BB'
corporate credit rating on Corporate Executive Board Co. (CEB). The
rating outlook is stable.

At the same time, S&P assigned its 'BBB-' issue-level rating and
'1' recovery rating to the company's proposed $500 million senior
secured first-lien credit facility (comprising a $250 million
revolving credit facility due 2020 and a $250 million senior
secured term loan A due 2020).  The '1' recovery rating indicates
S&P's expectation for very high recovery (90%-100%) of principal
for lenders in the event of a payment default.

S&P also assigned its 'BB-' issue-level rating and '5' recovery
rating to the company's $250 million senior unsecured notes due
2023.  The '5' recovery rating indicates S&P's expectation for
modest recovery (10%-30%; lower half of the range) of principal for
lenders in the event of a payment default.

"The 'BB' corporate credit rating on CEB reflects our expectation
for steady revenue and EBITDA growth as well as a fairly moderate
financial policy," said Standard & Poor's credit analyst Elton
Cerda.  The company has made steady progress in integrating its
2012 acquisition of SHL Group Ltd., which was transformative for
the company.  S&P views CEB's business risk profile as "fair,"
based on the stable and diverse subscription revenues it derives
from its research and benchmarking studies on operational
improvement topics, its high client subscription renewal rates, and
its good EBITDA margin.  S&P assess CEB's financial risk profile as
"significant," based on S&P's expectation that its leverage will
stay in the 3x-4x range over the next two to three years as
positive revenue and EBITDA trends offset the effect of dividend
increases and an active share repurchase program.

"The stable rating outlook reflects our expectation that CEB's
leverage will remain below 3.5x and discretionary cash flow to debt
will be at least 15%," said Mr. Cerda.  "We also expect that CEB
will continue to grow its business organically and through tuck-in
acquisitions."  S&P's rating does not incorporate any large
debt-financed acquisition.  S&P views an upgrade and a downgrade as
equally unlikely over the next 12-24 months.

S&P could lower the rating if operating missteps cause leverage to
approach 3.5x, which could occur if revenue growth slows and EBITDA
declines due to competitive pressure.  Large, debt-financed
acquisitions could also cause downgrade pressure if leverage
increases significantly without a clear path to deleveraging,
signaling a change in the company's financial policy.

Over the long term, S&P could raise the rating if CEB broadens its
base of business through appropriately priced, synergistic
acquisitions that do not meaningfully raise leverage, while
maintaining operating momentum and profitability and a consistent
financial policy.



DENREON CORP: Court Confirms Ch. 11 Plan of Liquidation
-------------------------------------------------------
Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware on June 2, 2015, issued a findings of
fact, conclusions of law, and order modifying and confirming
Dendreon Corporation, et al.'s second amended plan of liquidation.

As presented at the Confirmation Hearing, if resolved, the
consensual resolutions of certain objections satisfy all applicable
requirements of the Bankruptcy Code and the Bankruptcy Rules, are
in the best interests of the Debtors and their Estates, and are
supported by the record of the Confirmation Hearing, and therefore
should be approved.  All Objections that were not resolved by
agreement at or prior to the Confirmation Hearing are overruled, or
are otherwise disposed of.

The United States Government, on behalf of the Department of
Veteran Affairs, objected to the assumption and assignment of its
contracts in accordance with the sale order and objected to the
provisions of the Plan, which adversely affect the rights of the
Government with respect to the federal contracts the Debtors are
seeking to assume and assign.

The Debtors, in support of confirmation of the Plan, argues that
the Plan is broadly supported, satisfies all of the conditions to
confirmation, and will allow the Debtors to liquidate quickly and
efficiently.  The Debtors believe that the Plan represents the best
possible means to distribute the proceeds of the sale of
substantially all of the Debtors' assets to stakeholders and
complies with the Bankruptcy Code's requirements.  The liquidation
pursuant to Chapter 11 proposed in the Plan will avoid unnecessary
delay and additional costs that would be incurred if the Chapter 11
Cases were converted to cases under Chapter 7 of the Bankruptcy
Code.

The Official Committee of Unsecured Creditors also filed a
statement showing its support to the confirmation of the Plan.  The
Committee stated that it supports the Plan because it provides for
a fair allocation of the Debtors' remaining distributable value
among their stakeholders, including a distribution to equity
holders (to the extent unsecured creditors are paid in full as
provided in the Plan).  The Debtors estimated in the Disclosure
Statement that the aggregate amount of unsecured creditor claims
will be between approximately $625,698,658 and $625,726,389 and
that, pursuant to the Plan, holders of allowed unsecured creditor
claims will receive a pro rata distribution for an estimated
recovery in the range of 72% to 75%, the Committee noted.

James Daloia, director of solicitation and disbursement at Prime
Clerk LLC, filed a declaration stating that the Plan received
overwhelming acceptance of creditors entitled to vote on it.
According to Mr. Daloia, 100% of holders of Class 3 - 2016
Noteholder Claims and 96.43% of Class 4 - General Unsecured Claims
voted to accept the Plan.

The Debtors, prior to the Confirmation Hearing, filed Plan
Supplements, including Exhibit A - Amended Plan Administrator
Agreement and Exhibit B - Amended Schedule of Contracts to be
Assumed under Plan.  Full-text copies of the Plan Supplements are
available at http://bankrupt.com/misc/DENDREONplansupp0529.pdf

The Debtors are represented by Sarah E. Pierce, Esq., and Anthony
W. Clark, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, in
Wilmington, Delaware; and Kenneth S. Ziman, Esq., and Raquelle L.
Kaye, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, in New
York; and Felicia Gerber Perlman, Esq., at Skadden, Arps, Slate,
Meagher & Flom LLP, in Chicago, Illinois.

The Committee is represented by Pauline K. Morgan, Esq., and Sean
T. Greecher, Esq., at Young Conaway Stargatt & Taylor, LLP, in
Wilmington, Delaware; and Michael H. Torkin, Esq., and David J.
Jakus, Esq., at Sullivan & Cromwell LLP, in New York.

The DVA is represented by Charles M. Oberly, III, Esq., United
States Attorney, and Ellen W. Slights, Esq., Assistant United
States Attorney, in Wilmington, Delaware.

                         About Dendreon Corp

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

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

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

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

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

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

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

                       *     *     *

Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware on April 14, 2015, approved the disclosure
statement explaining Dendreon Corp., et al.'s Chapter 11 plan of
liquidation and scheduled the confirmation hearing for June 2,
2015, at 10:00 a.m. (Eastern time).

The Debtors filed a plan of liquidation and accompanying Disclosure
statement following approval of the sale of substantially all of
their assets to Valeant Pharmaceuticals International.

A second amended acquisition agreement provides for a higher
purchase price, consisting of common  shares of Valeant, having an
aggregate value of $49.5 million as of the close of the market on
the Trading Day immediately prior to the Effective Date, paid to
the Debtors as partial consideration for the assets acquired by the
purchaser pursuant to the Sale Order, plus $445.5 million in cash
to be delivered at closing of the sale transaction.  Pursuant to
the Second Amended Acquisition Agreement, if the amount of the
allowed prepetition general unsecured claims did not exceed $200
million in the aggregate, then the Valeant Shares could be
distributed proportionately in respect of the 2016 Noteholder
Claims.  The consideration under the Second Amended Acquisition
Agreement provided an additional $15 million in incremental value
to the Debtors' Estates over that provided for under the Amended
Acquisition Agreement, and $140 million more than the minimum
Qualified Bid.  The Acquired Assets under the Second Amended
Acquisition Agreement included all of the assets contemplated under
the Amended Acquisition Agreement, plus the D-3263 Assets and $80
million of cash and cash equivalents of the Debtors.

In their First Amended Plan, the Debtors said they anticipate that
the liquidation process would take six to twelve months. Wind-down
operating costs would include compensation expenses, insurance,
taxes, and the costs of orderly winding down healthcare and other
employee-related plans. Under a Chapter 7 liquidation, a change in
professionals would result in lost efficiencies, which is reflected
in a 25% increase in the wind-down budget. The Wind-Down Reserve is
calculated based on estimates and is being provided for
illustrative purposes only.


DIA-DEN LTD: Meeting of Creditors Scheduled for June 8
------------------------------------------------------
The U.S. Trustee for Region 7 will convene a meeting of creditors
in the Chapter 11 case of Dia-Den Ltd., on June 8, 2015, at 4:00
p.m.  The meeting will be held at Houston, 515 Rusk Suite 3401.

                        About Dia-Den Ltd.

Dia-Den Ltd. is a Texas limited partnership with its principal
place of business in Harris County, Texas.  Dia-Den owns and leases
to single tenant the industrial complex located at 24310 State
Highway 249, Tomball, Texas 77375.

Dia-Den Ltd. sought Chapter 11 bankruptcy protection (Bankr. S.D.
Tex. Case No. 15-32626) in Houston, Texas, on May 8, 2015.  The
case is assigned to Judge Jeff Bohm.

The Debtor tapped Hoover Slovacek, LLP, as counsel.

The Debtor disclosed $12 million in assets and $8.09 million in
liabilities in its schedules.



EL PASO CHILDREN'S: Needs Bankruptcy Trustee, Andy Krafsur Says
---------------------------------------------------------------
The El Paso Children's Hospital case can be expedited by the
appointment of a bankruptcy trustee, whose job would be to protect
the interests of creditors, El Paso Times reports, citing Andy
Krafsur, Esq., an El Paso attorney with experience in bankruptcy
law.

El Paso Times says that a trustee would be highly motivated to
bring the case to a quick conclusion.  

"It's the most significant financial crisis that we have in our
community and it's in the wrong hands.  It's not in the hands of
the community.  It's in the hands of out-of-town lawyers and
professionals and I think it's very dangerous," El Paso Times
quoted Mr. Krafsur as saying.

El Paso Times relates that the Hospital's board has ceded control
of the Hospital to out-of-town managers and attorneys who could
benefit financially from a prolonged case.  According to court
documents, the Hospital will pay $1.4 million by August for
restructuring costs, most of which is going to global consultancy
AlixPartners and the Austin law firm of Jackson Walker, which is
handling the bankruptcy work.

El Paso Times states that the Hospital's CEO, Mark Herbers, works
out of AlixPartners' Chicago office.  Court filings show that the
Hospital is paying Mr. Herbers' firm $200,000 a month, and El Paso
Times relates that it's not clear whether the Hospital is paying
Mr. Herbers a salary in addition to that amount.

According to El Paso Times, the Hospital has stopped paying
University Medical Center, owned by taxpayers, for services since
early 2014, and it is unclear whether the Hospital plans to repay
the debt.

El Paso Times says that the situation could drag on for months, to
the financial benefit of bankruptcy professionals hired by the
Hospital and UMC, which will divert millions of dollars to
out-of-town consultants and lawyers that should be spent on the
health care of El Paso children.

                 About El Paso Children's Hospital

El Paso Children's Hospital Corporation operates the El Paso
Children's Hospital, the only not-for-profit children's hospital in
the El Paso region and the only dedicated pediatric hospital within
a 200-mile radius of El Paso, Texas.  The hospital opened its doors
in February 2012, features 122 private pediatric rooms, and is
located at the campus of El Paso County Hospital District dba
University Medical Center of El Paso ("UMC").

The Company sought Chapter 11 protection (Bankr. W.D. Tex. Case No.
15-30784) in El Paso, Texas on May 19, 2015.  The case is assigned
to Judge H. Christopher Mott, following disputes with UMC.

The Debtor tapped Jackson Walker LLP as counsel.

The Debtor estimated $50 million to $100 million in assets and
liabilities.


ELEPHANT TALK: Presented at LD Micro Invitational Conference
------------------------------------------------------------
Elephant Talk Communications Corp. held presentations with regard
to the Company's recent developments at the LD Micro Invitational
Conference on June 2, 2015.  The presentation is available for free
at http://is.gd/3yHdh4

                        About Elephant Talk

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

Elephant Talk reported a net loss of $21.9 million in 2014, a net
loss of $25.5 million in 2013 and a net loss of $23.1 million in
2012.

As of March 31, 2015, the Company had $43.1 million in total
assets, $35.5 million in total liabilities and $7.61 million in
total stockholders' equity.


ELMIRA, NY: Moody's Cuts GO Rating on $11.2MM Debt to 'Ba1'
-----------------------------------------------------------
Moody's Investors Service downgraded the City of Elmira's general
obligation rating to Ba1 from A2, affecting $11.2 million in rated
debt. The outlook remains negative.

The downgrade to Ba1 reflects the city's weakened financial
position following several years of reserve draws resulting in a
negative unassigned fund balance and negative net cash position,
with a reliance on market access to sustain operating liquidity.
The rating also incorporates the city's limited, but growing tax
base; below average socioeconomic indices; and elevated debt and
pension burdens.

The negative outlook reflects continued pressure on this city's
financial operations. The city anticipates deficit operations in
fiscal 2015, driving cash and unassigned fund balance deeper into
deficit. Future rating reviews will incorporate the city's ability
close its structural gap, restore liquidity and replenish
unassigned fund balance to a positive position.

What Could Make the Rating Go UP (removal of the negative
outlook):

- Increase in Unassigned General Fund balance to a positive
   level and improve liquidity

- Elimination of the city's structural gap by aligning recurring
   revenues with recurring expenditures

- Reduced reliance on cash flow financing

What could make the rating go down:

- Further financial deterioration or failure to materially
   improve fund balance and liquidity

- Increase in cash flow borrowing

The city of Elmira is located in the south-central part of Chemung
County, close to the Pennsylvania border. The City has a total land
area of 7.3 square miles and a population currently estimated at
28,899.

The bonds are secured by the city's general obligation pledge as
limited by the Property Tax Cap-Legislation (Chapter 97 (Part A) of
the Laws of the State of New York, 2011).

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


ENERGY & EXPLORATION: Debt Trades at 14% Off
--------------------------------------------
Participations in a syndicated loan under which Energy &
Exploration Partners is a borrower traded in the secondary market
at 86.40 cents-on-the- dollar during the week ended Friday, May 29,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in the June 2, 2015 edition of The Wall Street
Journal.  

This represents a decrease of 1.50 percentage points from the
previous week, The Journal relates.

Energy & Exploration Partners pays 675 basis points above LIBOR to
borrow under the facility.  

The bank loan matures on January 14, 2019, and carries Moody's and
Standard & Poor's did not give any rating.
  
The loan is one of the biggest gainers and losers among 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



FAMILY CHRISTIAN: 'Challenge' Period Extended to June 11
--------------------------------------------------------
A federal judge approved an agreement which gives Family Christian
LLC's official committee of unsecured creditors until June 11 to
challenge claims of secured lenders.

U.S. Bankruptcy Judge John Gregg last week approved the agreement
entered into by the committee and FC Special Funding LLC, one of
the company's secured lenders.  

Family Christian previously received final approval from the
bankruptcy judge to use the cash collateral of its secured lenders
to fund its operations.

The final order allowed the committee to challenge claims of FC
Special Funding and other secured lenders which, together, assert
claims totaling $57.3 million.

The committee and the U.S. trustee overseeing Family Christian's
bankruptcy case previously objected to the final order initially
proposed by the company in which it removed a provision excluding
Chapter 5 avoidance actions from the reach of any "Section 507(b)
superpriority claim" granted to some lenders.  

The provision was included in the interim orders signed by Judge
Gregg on Feb. 19 and on March 20.    

Both expressed concern the company would be required to use the
proceeds of the avoidance action initiated by the committee to
compensate affected lenders.

                     About Family Christian

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

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

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

The U.S. Trustee for Region 9 appointed seven creditors of Family
Christian LLC to serve on the official committee of unsecured
creditors.


FORTESCUE METALS: Bank Debt Trades at 9% Off
--------------------------------------------
Participations in a syndicated loan under which Fortescue Metals
Group is a borrower traded in the secondary market at 90.64
cents-on-the- dollar during the week ended Friday, May 29, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in the June 2, 2015 edition of The Wall Street Journal.
  
This represents an increase of 0.49 percentage points from the
previous week, The Journal relates.  Fortescue Metals Group pays
275 basis points above LIBOR to borrow under the facility.  

The bank loan matures on June 13, 2019, and carries Moody's Ba1
rating and Standard & Poor's BB+ rating.
  
The loan is one of the biggest gainers and losers among 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



FRAC SPECIALISTS:  Has Authority to Pay Employee Wages and Benefits
-------------------------------------------------------------------
Frac Specialists, LLC, and its affiliated debtors sought and
obtained authority from Judge D. Michael Lynn of the U.S.
Bankruptcy Court for the Northern District of Texas, Fort Worth
Division, to pay prepetition wages, employee benefits and insurance
premiums.

The Debtors collectively employ nearly 200 employees.  As of the
Petition Date, Frac Specialists owed wages to its hourly employees
for the May 29, 2015, payroll, approximately $219,595, including
taxes.  Additionally, Frac Specialists owed wages to its salaried
employees for the May 29, 2015, payroll approximately $25,309,
including taxes.

As of the Petition Date, Cement Specialists owed wages to its
hourly employees for the May 29, 2015, payroll approximately
$28,356.  Additionally, Cement Specialists owed wages to its
salaried employees for the May 29, 2015 payroll approximately
$18,880.

As of the Petition Date, Acid Specialists owed wages to its hourly
employees for the May 29, 2015 payroll approximately $47,747.
Additionally, Acid Specialists owed wages to its salaried employees
for the May 29, 2015 payroll approximately $21,145, including
taxes.  Acid Specialist also owes $1,044 to an independent
contractor who manages safety for the company.

The Debtors also need to pay $2,189 in connection with the
adjustments they made to their May 15, 2015 payroll.

Jeff P. Prostok, Esq., at Forshey & Prostok LLP, in Fort Worth,
Texas, tells the Court that the relief requested is necessary to
avoid immediate and irreparable harm to the Debtors.  Mr. Prostok
asserts that a failure by the Debtors to honor their prepetition
obligations to their employees, including the payment of
prepetition compensation and employee benefits and maintaining
appropriate workers' compensation and other insurance, may result
in loss by the Debtors of their employees at a time when they need
them most.  Consequently, it is essential to the Debtors' continued
operations that their employees receive assurance that they will
receive all prepetition compensation and there will be no
interruption in either the Debtors' workers' compensation insurance
or any other insurance maintained by the Debtors on behalf of
themselves and their employees, Mr. Prostok further asserts.

The Debtors are represented by:

          Jeff P. Prostok, Esq.
          Suzanne K. Rosen, Esq.
          FORSHEY & PROSTOK LLP
          777 Main St., Suite 1290
          Ft. Worth, TX 76102
          Telephone: (817)877-8855
          Facsimile: (817)877-4151
          Email: jprostol@forsheyprostok.com
                 srosen@forsheyprostok.com

                  About Frac Specialists

Frac Specialists, LLC, Cement Specialists, LLC, and Acid

Specialists, LLC, sought Chapter 11 bankruptcy protection
(Bankr.
N.D. Tex. Lead Case No. 15-41974) in Ft. Worth, Texas, on
May 17,
2015. Larry P. Noble signed the petitions as manager. The
Debtors
 estimated assets and debts of $50 million to $100
million.



The Companies are oilfield service providers serving the

exploration and production industry within the Permian Basin.

Noble Natural Resources, LLC, Javier Urias and Alex Hinojos

collectively own 100% of the membership interests in the

Companies.



The Debtors tapped Lynda L. Lankford, Esq., and Jeff P. Prostok,

Esq., at Forshey & Prostok, LLP, as their counsel. Judge Michael

Lynn presides over the cases.


FRAC TECH: Bank Debt Trades at 17% Off
--------------------------------------
Participations in a syndicated loan under which Frac Tech Services
Ltd. is a borrower traded in the secondary market at 83.25
cents-on-the- dollar during the week ended Friday, May 29, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in the June 2, 2015 edition of The Wall Street Journal.  

This represents a decrease of 2.80 percentage points from the
previous week, The Journal relates. Frac Tech Servives Ltd. pays
475 basis points above LIBOR to borrow under the facility.  

The bank loan matures on April 3, 2021, and carries Moody's Caa2
rating and Standard & Poor's CCC+ rating.

The loan is one of the biggest gainers and losers among 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



GETTY IMAGES: Bank Debt Trades at 18% Off
-----------------------------------------
Participations in a syndicated loan under which Getty Images Inc.
is a borrower traded in the secondary market at 81.90 cents-on-the-
dollar during the week ended Friday, May 29,2015, according to data
compiled by LSTA/Thomson Reuters MTM Pricing and reported in the
June 2, 2015 edition of The Wall Street Journal.

This represents an increase of 0.33 percentage points from the
previous week, The Journal relates.  Getty Images pays 350 basis
points above LIBOR to borrow under the facility.
  
The bank loan matures on October 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 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



GLOBAL PARTNERS: Moody's Rates New $300MM Unsecured Notes 'B2'
--------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Global Partners
LP's proposed $300 million senior unsecured notes due 2023. The net
proceeds from the offering of approximately $294 million will be
used to reduce the borrowings under Global's $775 million senior
secured revolving credit facility (to $224 million, leaving unused
borrowing availability under the revolver at approximately $500
million as of March 31, 2015 on a pro forma basis).

"The notes offering will improve Global Partner's liquidity and
allow the company to fund the pending $156 million CPG acquisition
with revolver borrowings," commented James Wilkins, a Moody's Vice
President.

Ratings assigned:

Issuer: Global Partners LP

  -- $300 million senior unsecured notes due 2023 - B2 (LGD5)

Global's proposed senior unsecured notes are rated B2, one notch
below the B1 Corporate Family Rating (CFR), reflecting the
contractual subordination and smaller size of the notes relative to
the company's secured bank credit facility, which is secured by
substantially all the assets of the firm. Moody's believe the B2
rating is more appropriate for the notes than the rating suggested
by Moody's Loss Given Default (LGD) methodology because of Global's
fixed assets. These assets provide some additional value to the
note holders, as the majority of secured debt borrowings are
supported by highly liquid inventories and receivables.

Global's B1 CFR is supported by the company's track record and
seasoned management team, both as a MLP and prior to going public
as a family owned business with several decades of operating
experience in refined product distribution. The B1 rating is
further supported by Global's strong market presence in the
northeast US and the relatively more stable income and low working
capital needs associated with its retail gasoline supply and
station operations businesses. The rating also reflects the
company's relatively conservative management of distributions to
limited partners, and the low entry costs and the funding of its
growth into crude oil distribution and logistics with a meaningful
amount of retained cash flow.

The B1 CFR is restrained by Global's exposure to characteristics
typical in the distribution business: low margins, exposure to
volatile commodity prices and working capital intensity, which
results in highly elevated debt balances during periods of high
commodity prices and losses on working inventory levels when the
commodity markets are in backwardation. The rating also considers
the company's material geographic concentration in the mature
Northeast US and the risks associated with the company's MLP
corporate finance model.

The stable rating outlook reflects Moody's view that management
will continue to prudently manage its liquidity profile and
commodity price exposure and will fund material capital projects or
acquisitions with either a meaningful equity or retained cash flow
funding component. The ratings could be upgraded if Global
demonstrates that it can consistently maintain debt/EBITDA below 4x
while successfully executing on its growth strategy. In addition,
meaningful growth into more durable, fee-based businesses could
also support a positive rating action. The ratings could be
downgraded if Global experiences a deterioration in liquidity, if
it's margins are compressed for an extended period of time or a
primarily debt financed acquisition increases financial leverage on
a sustained basis above 6x debt/EBITDA.

The principal methodology used in this rating was Global Midstream
Energy published in December 2010. Other methodologies used include
Loss Given Default for Speculative-Grade Non-Financial Companies in
the U.S., Canada and EMEA published in June 2009.

Global Partners LP is a publicly traded master limited partnership
(MLP) based in Waltham, Massachusetts. The partnership has a large
network of refined product terminals in the northeast US, which it
utilizes to support the distribution of transportation fuels,
distillates (home heating oil, diesel and kerosene), residual oil
and biofuels. Global also has a portfolio of approximately 1,450
owned, leased and/or supplied gasoline stations, primarily in the
northeast.


GLOBALSTAR INC: Stockholders Elect Two Directors
------------------------------------------------
Globalstar, Inc. held its annual meeting of stockholders on
May 28, 2015, at which the stockholders elected William A. Hasler
and James Monroe III as Class C directors to serve for a term to
expire at the 2018 Annual Meeting of Stockholders.  Stockholders
also ratified the appointment of Crowe Horwath LLP as the company's
independent registered accounting firm for the fiscal year ending
Dec. 31, 2015.

                       About Globalstar, Inc.

Globalstar is a leading provider of mobile satellite voice and
data services.  Globalstar offers these services to commercial and
recreational users in more than 120 countries around the world.
The company's products include mobile and fixed satellite
telephones, simplex and duplex satellite data modems and flexible
service packages.  Many land based and maritime industries benefit
from Globalstar with increased productivity from remote areas
beyond cellular and landline service.  Globalstar customer
segments include: oil and gas, government, mining, forestry,
commercial fishing, utilities, military, transportation, heavy
construction, emergency preparedness, and business continuity as
well as individual recreational users.  Globalstar data solutions
are ideal for various asset and personal tracking, data monitoring
and SCADA applications.

Globalstar reported a net loss of $463 million in 2014, a net loss
of $591 million in 2013 and a net loss of $112.19 million in 2012.

As of March 31, 2015, the Company had $1.25 billion in total
assets, $1.29 billion in total liabilities, and a $39.6 million
total stockholders' deficit.


GMG CAPITAL: Targets August Confirmation of Plan
------------------------------------------------
GMG Capital Partners III, L.P. and GMG Capital Partners III
Companion Fund, L.P., will ask the U.S. Bankruptcy Court for the
Southern District of New York to approve the disclosure statement
for their Second Amended Chapter 11 Plan of Reorganization at a
hearing on June 16, 2015, at 2:00 p.m.

The Debtors are targeting confirmation of their reorganization plan
by August.  The proposed disclosure statement order contemplates:

    * a June 18, 2015 voting record date;

    * a July 30, 2015 deadline for written objections to the Plan;


    * a July 31, 2015 at 4:00 p.m. deadline for ballots accepting
or rejecting the Plan; and

    * an Aug. 6, 2015 confirmation hearing on the Plan.

According to the Second Amended Disclosure Statement, the
cornerstone of the Plan is the infusion of up to $6.5 million in
cash through an exit funding advanced by certain of the Debtors'
non-insider limited partners and others, combined with a global
resolution between the Debtors, the management company and the
Debtors' non-insider limited partners.

The proceeds of the exit funding will be used primarily to
reinstate Athenian Venture Partners' debt, to pay administrative
expenses including professional fees and to fund certain
distributions, including a $250,000 advance to insider GMG Special
Purpose Entity, LLC, on account of its future distributions and go
forward expenses and reserves contemplated under the Plan.

The III Class Partnerships hold active investments in Open Peak,
Inc. ("Open Peak") (an approximate 3.8 percent interest) and
Lancope, Inc. ("Lancope") (an approximate 15 percent interest).  It
is expected, but not guaranteed, that upon certain events, an
eventual disposition of these interests will be sufficient to pay
all creditors in full.

According to the Second Amended Disclosure Statement, the Plan
projects that:

   * Administrative claims estimated at $1,750,000 will be paid in
full;

   * Priority tax claims at $10,000 to $52,000 will be paid in
full;

   * Athenian claims against GMG III (Class 1B) at $5,163,745 will
be paid in full;

   * Holders of general unsecured claims against GMG III (Class 1C)
estimated at $600,000 will receive their pro rata share of proceeds
of a "liquidity event" up to the amount equal to the allowed amount
of their claim plus postpetition interest at the federal judgment
rate, provided that the holders may elect to receive a pro rata
recovery of no greater than 40% of the amount of the claims from
the GUC reserve to be payable upon 30 days of the effective date of
the Plan.

   * Athenian claims against Companion (Class 2B) at $5,163,745
will be paid in full; and

   * General unsecured claims against Companion (Class 2C)
estimated at $275,000 will receive their pro rata share of proceeds
of a "liquidity event" up to the amount equal to the allowed amount
of their claim plus postpetition interest at the federal judgment
rate, provided that the holders may elect to receive a pro rata
recovery of no greater than 40% of the amount of the claims from
the GUC reserve to be payable upon 30 days of the effective date of
the Plan.

Through the Plan, the Debtors and their insiders on one hand and
its non-insider limited partners on the other hand will resolve all
of their GMG-related issues.  The Plan contemplates that the
Management Company will withdraw its claims and that the limited
partners will withdraw their claims.  In return, for such
withdrawal and other mutual releases set forth in the Plan, upon
the realization of cash from the sale of Open Peak or Lancope, the
funds will be distributed pursuant to the limited partners of the
Debtors pursuant to following waterfall:

   a. Tranche A: The first $7.5 million to the Holders of Interests
of GMG III and GMG Companion Ratably, excluding GMG Special Purpose
Entity, LLC Interests.

   b. Tranche B: All remaining amounts will be payable one third
(1/3) to GMG Special Purpose Entity, LLC on account of its
Interests (offset by any amounts advanced to it by the Exit Funder
pursuant to the Exit Funding) and two thirds (2/3) to the remaining
holders of Interests of GMG III and GMG Companion Ratably (without
regard to GMG Special Purpose Entity, LLC.).

    c. "Ratably" shall mean, first allocated to each of the two
funds (GMG III and GMG Companion) proportionate to their respective
capital contributions made by the limited pruiners , e.g. 87.87%
allocated to GMG III and 12.13% allocated to GMG Companion.  Then
within each of the funds between these two Debtors, in proportion
to each Holder's relative scheduled Interest.  A distribution
schedule will be included in the Plan Supplement.

    d. To the extent any Holder of Interest owes any management
fees as of the date of payment (without imputed interest), that
amount will be subtracted from the distribution owed to such
Holder, and be payable to JDJ Management Company, LLC until such
management fees are paid.

Holders of claims and interests in these classes are impaired and
are entitled to vote on the Plan: Class 1C (General Unsecured
Claims against GMG III), Class 1D (Management Company Claims
Against GMG III), Class 1F (Equity Interests in GMG III), Class 2C
(General Unsecured Claims Against Companion), Class 2D (Management
Company Claims Against Companion), and Class 2F (Equity Interests
in Companion).

A copy of the Second Amended Disclosure Statement is available for
free at http://bankrupt.com/misc/GMG_Capital_2nd_Am_DS.pdf

                    About GMG Capital Partners

GMG Capital Partners III, L.P. ("GMG III") is a venture capital
fund formed in August 2011.  GMG III was formed on the heels of two
prior successful funds, and many investors from those prior funds
then invested in GMG III.  Eventually, four separate limited
partnerships (the "III Class Partnerships") were formed and
approximately $180 million total were invested in the partnerships
bearing the GMG III title:

  * GMG Capital Partners III, LP ("GMG III")
  * GMG Capital Partners III Companion Fund, LP ("Companion")
  * GMG Capital Partners IIIA, LP
  * GMG Capital Parnter IIIB, LP

The collapse of the financial markets, and the advent of the
terrorist attacks of Sept. 11, 2001 -- just one month following GMG
III's formation- significantly affected GMG III and its sister
funds.

GMG III and Companion sought Chapter 11 protection (Bankr. S.D.N.Y.
Case No. 13-12937 and 13-12939) in Manhattan on Sept. 10, 2013.
GMG IIIA and GMG IIIB were not included in the Chapter 11 filing.

Stuart M. Bernstein oversees the Debtors' cases.  

Olshan Frome Wolosky LLP serves as counsel to the Debtors.

GMG III disclosed $21,696,757 in assets and $7,877,498 in
liabilities as of the Chapter 11 filing.


GOLDEN COUNTY: Seeks to Sell Assets to Monogram Appetizers for $22M
-------------------------------------------------------------------
Golden County Foods, Inc., and its affiliated debtors asks
authority from the U.S. Bankruptcy Court for the District of
Delaware to sell substantially all of their assets to Monogram
Appetizers, LLC, for $22.0 million.

Joseph C. Barsalona II, Esq., at Richards, Layton & Finger, P.A.,
in Wilmington, Delaware, tells the Court that in an effort to avoid
liquidation and preserve their value as a going concern, the
Debtors began seeking additional financing in February 2015.
However, as a result of the Debtors' precarious financial
condition, they have been unable to obtain additional financing.
Accordingly, the Debtors marketed the Purchased Assets for sale.
After a three-month marketing and sale process, the Debtors have
reached an agreement with Monogram for the purchase and sale of the
Purchased Assets, substantially all of the assets of Golden County
Foods, Inc., under the terms of an Asset Purchase Agreement.  Mr.
Barcelona notes that the APA provides for the sale of the Purchased
Assets as a going concern free and clear of all liens, claims and
interests under section 363 of the Bankruptcy Code for a purchase
price of $22 million to be paid at closing plus certain assumed
liabilities as set forth in the APA subject to higher and better
bids. The sale will enable the Debtors to avoid immediate
liquidation and preserve hundreds of jobs while returning
significant value to the Debtors' creditors.

Mr. Barcelona says that while the APA reflects the highest offer
the Debtors received prepetition, the Debtors believe that a
competitive sale process will ensure that the Debtors receive the
highest possible price for the Purchased Assets.

Under the proposed Bidding Procedures:(i) the Bid Deadline is set
no later than June 29, 2015; (ii) the Auction is scheduled to take
place on July 1, 2015; (iii) the Sale Hearing is scheduled to take
place on or after July 1, 2015 at 1:30 p.m.; (iv) the Break-Up Fee
is fixed at $500,000; and (v) in the event the Stalking Horse
Bidder is not the Successful Bidder, the Stalking Horse Bidder
shall be entitled to an expense reimbursement of documented
expenses of up to $150,000.

The hearing on the Debtors' motion is scheduled on June 15, 2015 at
10:00 am.  The deadline for submission of objections to the motion
is set at June 8.

The Debtors are represented by:

          Mark D. Collins, Esq.
          Paul N. Heath, Esq.
          Tyler D. Semmelman, Esq.
          Joseph C. Barsalona II
          RICHARDS, LAYTON & FINGER, P.A.
          One Rodney Square
          920 North King Street
          Wilmington, DE 19801
          Telephone: (302)651-7700
          Facsimile: (302)651-7701
          Email: collins@rlf.com
                 heath@rlf.com
                 semmelman@rlf.com
                 barsalona@rlf.com

             -- and --
               
          Patrick J. Neligan,Jr., Esq.
          John D. Gaither, Esq.
          NELIGAN FOLEY LLP
          325 N. St. Paul, Suite 3600
          Dallas, Texas 75201
          Telephone: (214)840-5300
          Facsimile: (214)840-5301
          Email: pneligan@neliganlaw.com
                 jgaither@neliganlaw.com

                    About Golden County

Golden County (Bankr. D. Del. Case No. 15-11062) and its affiliates
GCF Franchisee, Inc. (Bankr. D. Del. Case No. 15-11063) and GCF
Holdings II, Inc. (Bankr. D. Del. Case No. 15-11064) filed separate
Chapter 11 bankruptcy petitions on May 15, 2015, estimating assets
and liabilities at between $10 million and $50 million each. The
petition was signed by Dave Wiggins, chief executive
officer.



Mark D. Collins, Esq., and Tyler D. Semmelman, Esq., at Richards,

Layton & Finger, P.A., serve as the Debtors' counsel. The
Debtors 
also hired Neligan Foley LLP as local counsel.



GRACE CHURCH: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Grace Church Realty Corp.
        40 Grace Church Street
        Port Chester, NY 10573

Case No.: 15-22787

Chapter 11 Petition Date: June 4, 2015

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

Judge: Hon. Robert D. Drain

Debtor's Counsel: Rosemarie E. Matera, Esq.
                  KURTZMAN MATERA, PC
                  664 Chestnut Ridge Road
                  Spring Valley, NY 10977
                  Tel: (845) 352-8800
                  Fax: (845) 352-8865
                  Email: law@kmpclaw.com

Total Assets: $1.3 million

Total Liabilities: $1.4 million

The petition was signed by Juan Cepeda, president.

A list of the Debtor's two largest unsecured creditors is available
for free at http://bankrupt.com/misc/nysb15-22787.pdf


GT ADVANCED: Extends DIP Solicitation Period to June 10
-------------------------------------------------------
GT Advanced Technologies Inc. on June 3 announced the fourth
extension of the solicitation period in connection with its
previously announced proposed debtor-in-possession term loan
facility.  Following the extension, the solicitation period will
expire at 5:00 p.m., New York City time, on June 10, 2015.

The solicitation process is being conducted in connection with a
commitment letter, dated March 17, 2015 between the Company and
certain holders of the Convertible Notes.  The Company was
authorized to undertake the solicitation process pursuant to an
order of the Bankruptcy Court entered on April 2, 2015.  On
April 29, 2015, the Company and the Backstop Lenders entered into a
second amendment to the Commitment Letter by which, among other
things, the Backstop Lenders agreed to an extension of their
commitment to provide the DIP Loan Facility to an outside date of
June 15, 2015, subject to certain terms and conditions as described
more fully in the Form 8-K filed by the Company on
April 30, 2015.

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

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

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

Except as set forth above, all other terms of the solicitation and
the DIP Loan Facility remain the same.  All holders of the
Company's Convertible Notes who have previously submitted their
commitment to participate in the solicitation do not need to
re-submit such commitment or take any other action in response to
the extension of the solicitation period.

                  About GT Advanced Technologies

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

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

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

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

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

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

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

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



GT ADVANCED: Seeks Sept. 30 Extension of Plan Filing Date
---------------------------------------------------------
GT Advanced Technologies Inc. and its affiliated debtors ask the
U.S. Bankruptcy Court for the District of New Hampshire to further
extend their exclusive periods (a) to file a Chapter 11 plan from
to September 30, 2015, and (b) to solicit acceptances of their
Chapter 11 plan to November 30, 2015.

This is the second time that the Debtors asked the Court to extend
their exclusive periods.

James T. Grogan, Esq., at Paul Hastings LLP, in New York, tells the
Court that the approximately four-month extension of exclusivity is
necessary to allow GTAT sufficient time to resolve intercompany
issues and to propose a Chapter 11 plan, which may include value
maximizing structures, that takes advantage of all that has been
accomplished in the Chapter 11 cases to date.  Mr. Grogan adds that
opening the plan process up to competing plans and the inherent
competing interests at this juncture could undermine all of the
progress made in the Chapter 11 cases, interfere with and detract
from negotiations regarding the intercompany issues, and distract
the Debtors' employees and professionals' attention from
implementing the Business Plan to the detriment of all parties in
interest.

The Debtors are represented by:

          Luc A. Despins, Esq.
          Andrew V. Tenzer, Esq.
          James T. Grogan, Esq.
          PAUL HASTINGS LLP
          Park Avenue Tower
          75 East 55th Street, First Floor
          New York, NY 10022
          Telephone: (212)318-6000
          Facsimile: (212)319-4090
          Email: lucdespins@paulhastings.com
                 andrewtenzer@paulhastings.com       
                 jamesgrogan@paulhastings.com

             -- and --

          Daniel W. Sklar, Esq.
          Holly J. Barcroft, Esq.
          NIXON PEABODY LLP
          900 Elm Street
          Manchester, NH 03101-2031
          Telephone: (603)628-4000
          Facsimile: (603)628-4040
          Email: dsklar@nixonpeabody.com
                 hbarcroft@nixonpeabody.com

                     About GT Advanced

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



Under the deal, Apple would provide GTAT with a prepayment of

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



GT is a publicly held corporation whose stock was traded on NASDAQ

under the ticker symbol "GTAT." GTAT was de-listed from the
NASDAQ
stock exchange in October 2014.



As of June 28, 2014, the GTAT Group's unaudited and consolidated

financial statements reflected assets totaling $1.5 billion and

liabilities totaling $1.3 billion. As of Sept. 29, 2014, GTAT
had
 $85 million in cash, $84 million of which is
unencumbered.



On Oct. 6, 2014, GT Advanced Technologies and eight affiliates

filed voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code (Bankr. D.N.H. Lead Case No. 14-11916). GT
sought bankruptcy protection due to a severe liquidity crisis
brought about by its issues with Apple.



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



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



GTAT has reached a settlement with Apple. The settlement gives

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




GULF PACKAGING: Files Schedules of Assets and Liabilities
---------------------------------------------------------
Gulf Packaging, Inc., filed with the U.S. Bankruptcy Court for the
Northern District of Illinois its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $16,392,403
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $16,392,404*
  E. Creditors Holding
     Unsecured Priority
     Claims                                       $16,392,403
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                       $20,607,192
                                 -----------      -----------
        Total                    $16,392,403      $29,764,425*

* plus unknown amount

A copy of the schedules is available for free at:

     http://bankrupt.com/misc/GulfPackaging_135_SAL.pdfLINK

                       About Gulf Packaging

Formed as a Texas corporation in February 2012, Gulf Packaging Inc.
is a national distributor of packaging equipment and supplies,
which sells its product by and through several independent
entities.  GPI is a private company, with its equity held in equal
parts by the Fleck Family Partnership, LLC and CWJ Eagle, LLC
(which is affiliated with the Cutshall family).

Gulf Packaging sought Chapter 11 protection (Bankr. N.D. Ill. Case
No. 15-15249) on April 29, 2015.  The case is assigned to Judge
Pamela S. Hollis.

The Debtor tapped FrankGecker LLP as counsel; BMC Group Inc. as
claims and noticing agent; and the firm of Gavin/Solmonese to
provide Edward T. Gavin as Chief Restructuring Officer.

The U.S. Trustee appointed nine creditors to serve on an official
committee of
unsecured creditors.


GYMBOREE CORP: Debt Trades at 24% Off
-------------------------------------
Participations in a syndicated loan under which Gymboree Corp is a
borrower traded in the secondary market at 76.07 cents-on-the-
dollar during the week ended Friday, May 29,2015, according to data
compiled by LSTA/Thomson Reuters MTM Pricing and reported in the
June 2, 2015 edition of The Wall Street Journal.
  
This represents a decrease of 0.53 percentage points from the
previous week, The Journal relates. Gymboree Corp. pays 350 basis
points above LIBOR to borrow under the facility.

The bank loan matures on February 23, 2018, and carries Moody's B3
rating and Standard & Poor's CCC+ rating.

The loan is one of the biggest gainers and losers among 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



HARSCO CORP: Moody's Rates New $250MM Sr. Unsecured Notes 'Ba1'
---------------------------------------------------------------
Moody's Investors Service affirmed Harsco Corporation's Corporate
Family Rating at Ba1 and Probability of Default Rating at Ba1-PD.
Concurrently, Moody's assigned a Ba1 rating to Harsco's proposed
$250 million senior unsecured notes and affirmed the Ba1 rating on
the $450 million senior unsecured notes due 2018. Moody's changed
the Speculative-Grade Liquidity (SGL) rating to SGL-2 from SGL-3
and maintained a stable outlook.

The company will use proceeds from the note issuance to repurchase
the existing $250 million 2.7% senior notes due 2015 pursuant to a
concurrent tender offer, with any remaining net proceeds to repay
borrowings under the revolving credit facility and general
corporate purposes.

The upgrade of the Speculative-Grade Liquidity rating to SGL-2 from
SGL-3 considers that this refinancing transaction improves Harsco's
credit profile as the company's nearest maturity is now in 2018
when its $450 million senior unsecured notes mature. In addition,
the company's liquidity profile benefits from wider headroom under
its financial maintenance covenants as the company was successful
in amending those in March 2015. The SGL-2 rating is also supported
by the recurring nature of the company's cash flows. Negating this,
is the reliance on its revolving credit facility.

Moody's took the following actions on Harsco Corporation:

  -- Corporate Family Rating, affirmed at Ba1;

  -- Probability of Default Rating, affirmed at Ba1-PD;

  -- Proposed $250 million senior unsecured notes, assigned
     Ba1 (LGD4);

  -- $450 million senior unsecured notes, affirmed Ba1 (LGD4);

  -- Speculative Grade Liquidity Rating, upgraded to SGL-2 from
     SGL-3;

Harsco's Ba1 Corporate Family Rating benefits from the company's
competitive position and diverse global footprint with over $2
billion of revenues for the last twelve months ended in March 31,
2015. In addition, the Ba1 rating considers the company's recurring
revenue base and solid backlog as well as expected improvement in
EBITDA margins as Harsco continues to execute on project Orion.
Further, Harsco's debt to EBITDA is expected to decline from
current 3.8x (includes operating lease and pension adjustment) to
below 3.5x by the end of 2015.

At the same time, the rating is constrained by the fact that Harsco
relies heavily on non-residential construction spending, which has
been recovering at a tepid pace. Economic uncertainties in Western
Europe also continue to hamper growth prospects in that region.

The stable rating outlook encompasses the expectations that key
credit metrics will improve gradually over the next 12 to 18
months, becoming more supportive of the Corporate Family Rating.
Also, Harsco's business profile and availability under its
revolving credit facility give it the financial flexibility to
support growth and optimization initiatives.

Positive rating actions over the intermediate term are unlikely as
Harsco needs to demonstrate its ability to improve and sustain
operating margins and cash flows. A positive rating action could be
considered however if Harsco's EBIT to interest expense remains
above 4.5 times, adjusted debt to EBITDA is sustained below 3.0
times, adjusted debt to book capitalization is sustained below 50%,
and if the liquidity profile improves.

Negative rating action could be considered if Harsco does not
achieve the expected level of operating margin improvement
following its cost reduction programs and its new initiatives in
the Metals and Minerals segment. Additionally, if adjusted EBIT to
interest expense is sustained below 2.75 times, adjusted debt to
EBITDA is sustained above 3.5 times, and Harsco's liquidity profile
deteriorates the rating could be changed down.

Harsco Corporation, headquartered in Camp Hill, PA, is a
diversified industrial service company focused on global markets
for outsourced services to metal industries, metal recovery &
mineral-based products, railway track maintenance and certain
industrial equipment. Revenues for the 12 months through March 31,
2015 totaled approximately $2.0 billion.

The principal methodology used in these ratings was Global Steel
Industry published in October 2012. Other methodologies used
include Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.


HOLOGIC INC: Moody's Rates New $2.5-Bil. Bank Debt 'Ba1'
--------------------------------------------------------
Moody's Investors Service rates Hologic Inc's new $2.5 billion
five-year senior secured credit agreement Ba1. The current Ba3
Corporate Family Rating and Ba3-PD Probability of Default Rating,
and the company's unsecured notes rated B1 remain unchanged.
Moody's has withdrawn ratings on the previous bank debt. The rating
outlook remains stable.

The new senior credit facility consists of a $1.5 billion senior
term loan and a $1 billion revolving credit facility. Proceeds from
the new facility were used to repay the company's $1.7 billion
outstanding term loans in a leverage-neutral transaction. The
refinancing has extended the company's bank debt maturity profile
and reduced interest expense modestly. The increase in revolver
size to $1 billion from $300 million also enhances Hologic's
already very good liquidity as indicated by its SGL-1 speculative
grade liquidity rating.

Ratings Assigned:

  -- Senior secured revolving credit facility at Ba1 (LGD 2)

  -- Senior secured Term Loan at Ba1 (LGD 2)

Ratings Withdrawn:

  -- Senior secured revolving credit facility at Ba1 (LGD 2)

  -- Senior secured Term Loans at Ba1 (LGD 2)

Ratings Unchanged:

  -- Corporate Family Rating at Ba3

  -- Probability of Default Rating at Ba3-PD

  -- Senior unsecured notes at B1 (LGD 4)

  -- Speculative Grade Liquidity Rating at SGL-1

  -- The outlook is stable.

Hologic's Ba3 rating incorporates its good scale, leading market
positions within its core franchises and good revenue diversity by
product and customer. The rating is also supported by the recurring
nature of more than half of the revenues which are generated from
service contracts and consumables. Further, the company generates
good free cash flow, has strong interest coverage and a publicly
stated commitment to deleverage.

The rating is constrained by Hologic's high, though improving,
financial leverage stemming from the 2012 debt-financed acquisition
of Gen-Probe. Moody's estimates adjusted debt to EBITDA was 4.2x
for the twelve months ended March 28, 2015. However, this does not
capture the premium over the principal or taxes associated with the
convertible notes that Moody's expects the company will repay in
FY17 and FY18. Including these obligations, leverage would
approximate 4.7x. The ratings also reflect volatility that can
occur in Hologic's financial performance because its businesses are
sensitive to general medical utilization trends and hospital
capital equipment spending trends. Further, activist investors
including Carl Icahn own more than 15% of Hologic's shares, and
Moody's believes event risk could rise if earnings growth does not
continue to improve and the stock price becomes pressured.

Hologic's SGL-1 Speculative Grade Liquidity Rating reflects very
good liquidity over the next 12-18 months supported by healthy cash
balances and Moody's expectation of annual free cash flow in the
$500 million range, which will be more than sufficient to satisfy
its modest debt maturities and other cash needs. The increased
revolver size provides further support.

Moody's could upgrade the ratings if Hologic can generate sustained
organic revenue growth and continue to repay debt such that the
rating agency expects adjusted debt to EBITDA to be sustained below
3.5 times.

Moody's could downgrade the ratings if market uptake of Hologic's
newer products fails to offset declines in older products,
resulting in declines in revenue and earnings. Specifically,
ratings could be downgraded if Moody's expects adjusted debt to
EBITDA to be sustained above 4.5x times, or if liquidity
deteriorates meaningfully.

The principal methodology used in these ratings was Global Medical
Product and Device Industry published in October 2012. Other
methodologies used include Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009.

Hologic, Inc. ("Hologic"; NASDAQ: HOLX) is a leading developer,
manufacturer and supplier of premium diagnostic products, medical
imaging systems and surgical products. The Company's core business
units focus on diagnostics, breast health, GYN surgical, and
skeletal health. Hologic reported revenues of about $2.6 billion in
the twelve months ended March 28, 2015.


HORIZON LINES: Caspian No Longer a Shareholder as of May 29
-----------------------------------------------------------
Caspian Capital LP and Caspian Credit Advisors, LLC disclosed
in an amended Schedule 13D filed with the Securities and Exchange
Commission that as of May 29, 2015, they ceased to beneficially own
shares of common stock of Horizon Lines, Inc.

On May 29, 2015, Horizon Lines consummated the merger with Matson
Navigation Company, Inc.  Upon the consummation of the Merger, each
issued and outstanding share of the Issuer's Common Stock was
converted automatically into and represents the right to receive
from Matson an amount in cash equal to $0.72, without interest.

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

                         http://is.gd/9x4W4b

                         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 March 22, 2015, the Company had $542 million in total assets,
$711 million in total liabilities, and a $169 million 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.


IMPLANT SCIENCES: Files 2014 Conflict Minerals Report
-----------------------------------------------------
Implant Sciences Corporation has evaluated its products and has
determined that tantalum, tin, tungsten and gold, collectively
"Conflict Minerals", as defined by the United States Securities and
Exchange Commission, are necessary to the functionality or
production of its products.  During the calendar year 2014, the
Company contracted for the manufacture of products and component
parts used in the manufacture of its products which contain
conflict minerals.  

Accordingly, the has filed with the SEC a Conflict Minerals Report
to disclose the measures it has taken to determine the origin of
the conflict minerals used in its products.

"We undertook a reasonable country of origin inquiry in 2014
regarding conflict minerals used in our products.  That reasonable
country of origin inquiry was designed to determine whether those
conflict minerals contained in our products originated in the
Democratic Republic of the Congo or an adjoining country,
collectively "DRC" or arose from scrap or recycled sources that may
have originated in the DRC.

We exercised due diligence regarding the source and chain of
custody of our conflict minerals utilizing a nationally recognized
due diligence framework.  Currently, we do not have sufficient
information from our suppliers or other sources to determine the
country origin of the conflict minerals in our products or identify
the facilities used to process those conflict minerals.  Therefore,
we are unable, after exercising due diligence, to determine whether
our products that contain conflict minerals may have originated
from the DRC.  As such, our products produced in calendar year 2014
are DRC Conflict Undeterminable," according to the filing.

A copy of the Conflict Minerals Report is available at:

                        http://is.gd/RLifrK

                      About Implant Sciences

Implant Sciences Corporation (OBB: IMSC.OB) --
http://www.implantsciences.com/-- develops, manufactures and
sells sensors and systems for the security, safety and defense
(SS&D) industries.

As of March 31, 2015, the Company had $8.73 million in total
assets, $83.5 million in total liabilities and a $74.8 million
total stockholders' deficit.

Marcum LLP, in Boston, Massachusetts, 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 had recurring net losses and continues to
experience negative cash flows from operations.  As of Sept. 23,
2014, the Company's principal obligation to its primary lenders
was approximately $53.4 million and accrued interest of
approximately $10.2 million.  The Company is required to repay all
borrowings and accrued interest to these lenders on March 31,
2015.  These conditions raise substantial doubt about its ability
to continue as a going concern.


IMRIS INC: Asks Court to Enforce Automatic Stay
-----------------------------------------------
IMRIS Inc. and its affiliated debtors ask the U.S. Bankruptcy Court
for the District of Delaware to enter an order (i) confirming the
enforcement of the Bankruptcy Code's automatic stay provisions;
(ii) confirming the Debtors' authority with respect to postpetition
operation of their businesses; and (iii) confirming the status of
the Debtors' non-filing subsidiaries and affiliates.

R. Craig Martin, Esq., at DLA Piper LLP (US), relates that the very
nature of the Debtors' operations means that the Debtors and their
property are subject to dealings with foreign counterparties in any
number of jurisdictions on a daily basis.  Indeed, as of the
Petition Date, the Debtors' customer installations were located in
jurisdictions as diverse as Canada, Belgium, Germany, India,
Singapore and China.  To continue to serve their customers around
the world, it is critical that vendors, customers, and other
counterparties understand the nature of the Debtors' reorganization
proceedings, their scope, and the protections that are afforded to
the Debtors under the Bankruptcy Code.
Mr. Martin notes that the Debtors' foreign creditors and
counterparties may be generally unfamiliar with the process of a
chapter 11 reorganization, the structure of the Bankruptcy Code and
the authorization it provides for postpetition operation of the
Debtors' businesses.  Particularly where creditors may only be
familiar with Asian or European creditor protection proceedings
with their focus on liquidation, such creditors may inaccurately
believe that the Debtors are no longer operating or that an
administrator or liquidator has been appointed and that the Debtors
are no longer in control of their operations.  Without a basis for
understanding, the authorization the Bankruptcy Code provides for
continued operation of the business, the Debtors believe that many
of their foreign customers, counterparties and other constituents
would be unwilling to continue to deal with the Debtors, to the
detriment of their businesses and prospects for reorganization.

In addition, the Debtors, Mr. Martin relates, have operations
managed by foreign subsidiaries which are not Debtors and will
continue to operate outside of this Court's protection.  These
international subsidiaries include IMRIS (Europe) SPRL
(incorporated in Belgium), IMRIS Germany GMBH (incorporated in
Germany), IMRIS India Private Limited (incorporated in India),
IMRIS Singapore Pte. Ltd. (incorporated in Singapore), IMRIS KK
(incorporated in Japan) and IMRIS Medical Technology Service
Beijing Co., Ltd. (incorporated in China), and may have contractual
relationships with counterparties in these jurisdictions and
elsewhere around the world.  Many of the international creditors
and counterparties that transact with these entities may not
appreciate or understand the distinction between the Debtors and
their non-debtor subsidiaries and affiliates, and may question
these subsidiaries' authority or ability to make pre-petition
payments or take other actions that a Debtor may be unable to take
without court authority.


IMRIS INC: Court Issues Joint Administration Order
--------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware issued an order directing joint administration
of the Chapter 11 cases of IMRIS, Inc., and NeuroArm Surgical Ltd.,
under lead case no. 15-11133.

                         About IMRIS Inc.

Based in Minnetonka, Minnesota, IMRIS Inc. and its affiliated
companies design, manufacture and market image guided therapy
systems.  IMRIS's VISIUS Surgical Theatre systems enhance the
effectiveness magnetic resonance systems, x-ray fluoroscopy
systems, and computed tomography (CT) systems in medical
procedures.

IMRIS and its affiliated companies commenced Chapter 11 bankruptcy
cases (Bankr. D. Del. Lead Case No. 15-11133) in Delaware on May
25, 2015.

The Debtors tapped the law firms of DLA Piper LLP (US) and DLA
Piper (Canada) LLP as counsel; Imperial Capital, LLC, as investment
banker, FTI Consulting, Inc.'s Andrew Hinkelman as chief
restructuring officer; and Kurtzman Carson Consultants LLC as
claims and noticing agent.

IMRIS estimated $10 million to $50 million in assets and
liabilities.


IMRIS INC: Has Authority to Hire KCC as Claims & Noticing Agent
---------------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware authorized IMRIS, Inc., and NeuroArm Surgical
Ltd., to employ Kurtzman Carson Consultants LLC as claims and
noticing agent.

The Debtors engaged KCC to act as their claims and noticing agent
to assume full responsibility for the distribution of notices and
maintenance, processing, and docketing of proofs of claims filed in
the Chapter 11 case.

Prior to the Petition Date, the Debtors provided KCC a retainer in
the amount of $10,000.

The rates to be charged by KCC for its consulting services and
other services, noticing services and claims filing services are
set forth in the "KCC Fee Structure".  The KCC Fee Structure was
not included in filings submitted by the Debtors with the
Bankruptcy Court.

Evan Gershbein, senior vice president of corporate restructuring
services of KCC, attests that KCC is a "disinterested person"
within the meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

         KURTZMAN CARSON CONSULTANTS LLC
         2335 Alaska Ave.
         El Segundo, CA 90245
         Attn: Drake D. Foster
         Tel: (310) 823-9000
         Fax: (310) 823-9133
         E-mail: dfoster@kccllc.com

                         About IMRIS Inc.

Based in Minnetonka, Minnesota, IMRIS Inc. and its affiliated
companies design, manufacture and market image guided therapy
systems.  IMRIS's VISIUS Surgical Theatre systems enhance the
effectiveness magnetic resonance systems, x-ray fluoroscopy
systems, and computed tomography (CT) systems in medical
procedures.

IMRIS and its affiliated companies commenced Chapter 11 bankruptcy
cases (Bankr. D. Del. Lead Case No. 15-11133) in Delaware on May
25, 2015.

The Debtors tapped the law firms of DLA Piper LLP (US) and DLA
Piper (Canada) LLP as counsel; Imperial Capital, LLC, as investment
banker, FTI Consulting, Inc.'s Andrew Hinkelman as chief
restructuring officer; and Kurtzman Carson Consultants LLC as
claims and noticing agent.

IMRIS estimated $10 million to $50 million in assets and
liabilities.


IMRIS INC: Wants to Be Recognized as Foreign Representative
-----------------------------------------------------------
IMRIS Inc. and its affiliated debtors ask the U.S. Bankruptcy Court
for the District of Delaware to authorize IMRIS to act as foreign
representative on behalf of the Debtors' estates in any judicial or
other proceeding in a foreign country, including in Canadian
proceedings.

The Debtors include two Canadian corporations: IMRIS Inc. and
NeuroArm Surgical Ltd.  These Canadian entities own certain assets,
including all or substantially all of the Debtors' intellectual
property, incur certain costs related to Canadian service contracts
and other corporate entity charges. In addition, the Canadian
entities employ approximately 5 of the Debtors' employees.  In
order to ensure an orderly wind down of the Debtors' operations in
Canada as well as the efficient liquidation of the Debtors'
Canadian assets, the Debtors intend to commence ancillary
proceedings in Canada requesting that the Manitoba Court of Queen's
Bench recognize the Debtors' chapter 11 cases as a "foreign main
proceeding" under the applicable provisions of the Companies'
Creditors Arrangement Act (Canada), R.S.C. 1985, c. C-36 (as
amended, the "CCAA").

Section 46(2) of the CCAA provides that a recognition application
under the CCAA must be accompanied by, among other things, a
"certified copy of the instrument, however designated, authorizing
the foreign representative to act in that capacity or a certificate
from the foreign court affirming the foreign representative's
authority to act in that capacity."

                         About IMRIS Inc.

Based in Minnetonka, Minnesota, IMRIS Inc. (NASDAQ: IMRS; TSX: IM)
-- http://www.imris.com/-- designs, manufactures and markets image
guided therapy systems.  IMRIS's VISIUS Surgical Theatre systems
enhance the effectiveness magnetic resonance systems, x-ray
fluoroscopy systems, and computed tomography (CT) systems in
medical procedures.

IMRIS and its affiliated companies commenced Chapter 11 bankruptcy
cases (Bankr. D. Del. Lead Case No. 15-11133) in Delaware on May
25, 2015, with a deal to sell to Deerfield Management Company,
L.P., for a credit bid of $9.50 million, absent higher and better
offers.

The Debtors tapped the law firms of DLA Piper LLP (US) and DLA
Piper (Canada) LLP as counsel; Imperial Capital, LLC, as investment
banker, FTI Consulting, Inc.'s Andrew Hinkelman as chief
restructuring officer; and Kurtzman Carson Consultants LLC as
claims and noticing agent.

IMRIS estimated $10 million to $50 million in assets and
liabilities.


ISTAR FINANCIAL: Stockholders Elect Six Directors
-------------------------------------------------
iStar Financial Inc. held its 2015 annual meeting of shareholders
on June 1, 2015, at which the stockholders, among other things:

   (i) elected Jay Sugarman, Robert W. Holman, Jr., Robin Josephs,
       John G. McDonald, Dale Anne Reiss and Barry W. Ridings
       to the Company's board of directors;

  (ii) ratified the appointment of PricewaterhouseCoopers LLP as
       the Company's independent registered public accounting firm
       for the fiscal year ending Dec. 31, 2015; and

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

                        About iStar Financial

New York-based iStar Financial Inc. (NYSE: SFI) provides custom-
tailored investment capital to high-end private and corporate
owners of real estate, including senior and mezzanine real estate
debt, senior and mezzanine corporate capital, as well as corporate
net lease financing and equity.  The Company, which is taxed as a
real estate investment trust, provides innovative and value added
financing solutions to its customers.

iStar Financial reported a net loss allocable to common
shareholders of $33.72 million in 2014, a net loss allocable to
common shareholders of $155.76 million in 2013 and a net loss
allocable to common shareholders of $272.99 million in 2012.

As of March 31, 2015, the Company had $5.65 billion in total
assets, $4.41 billion in total liabilities, $13.2 million in
redeemable noncontrolling interests, and $1.21 billion in total
equity.

                            *     *     *

As reported by the TCR on June 26, 2014, Fitch Ratings had
affirmed the Issuer Default Rating (IDR) of iStar Financial
at 'B'.  The 'B' IDR is driven by improvements in the company's
leverage, continued demonstrated access to the capital markets and
new sources of growth capital and material reductions in non-
performing loans (NPLs).

As reported by the TCR on Oct. 5, 2012, Standard & Poor's Ratings
Services affirmed its 'B+' long-term issuer credit rating on iStar
Financial.

In October 2012, Moody's Investors Service upgraded the corporate
family rating to 'B2' from 'B3'.  The current rating reflects the
REIT's success in extending near term debt maturities and
improving fundamentals in commercial real estate.  The ratings on
the October 2012 senior secured credit facility takes into account
the asset coverage, the size and quality of the collateral pool,
and the term of facility.


J. CREW: Debt Trades at 9% Off
------------------------------
Participations in a syndicated loan under which J. Crew is a
borrower traded in the secondary market at 91.04 cents-on-the-
dollar during the week ended Friday, May 29,2015, according to data
compiled by LSTA/Thomson Reuters MTM Pricing and reported in the
June 2, 2015 edition of The Wall Street Journal.
  
This represents a decrease of 0.57 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 February 27, 2021, and carries Moody's B2
rating and Standard & Poor's B- rating.  

The loan is one of the biggest gainers and losers among 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



JASON INDUSTRIES: Dronco Deal No Impact on Moody's Ratings
----------------------------------------------------------
Moody's says that Jason Industries, Inc.'s acquisition of DRONCO
GmbH on May 29, 2015 is credit positive but does not currently
impact the ratings of its wholly-owned subsidiary Jason Holdings,
Inc. I -- B2 Corporate Family Rating and stable rating outlook.

Jason Industries, Inc., headquartered in Milwaukee, Wisconsin, is a
diversified manufacturing company serving the finishing, seating,
acoustics and components end markets. Revenue in 2014 was $702
million.



JUHL ENERGY: Incurs $545K Net Loss in First Quarter
---------------------------------------------------
Juhl Energy, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $545,000 on $3.42 million of revenues for
the three months ended Mar. 31, 2015, compared with a net loss of
$1.31 million on $3.13 million of revenue for the same period last
year.

The Company's balance sheet at Mar. 31, 2015, showed $30.7 million
in total assets, $34.6 million in total liabilities, and a
stockholders' deficit of $3.81 million.

The Company currently has negative working capital, negative
stockholder's equity, a history of recurring losses and recurring
negative cash flow from operating activities, and has not yet
established a source of cash funding to retire obligations coming
due within the next twelve months, namely the Company will need to
find additional sources of capital to fund the balloon payment of
Airdrie Partners note obligation which has been assigned.
Additionally, the Company was unable to meet profitability and
revenue growth expectations with its JTS subsidiary and, as a
result, it was decided in late 2014 to discontinue the operations
of this subsidiary.  These factors raise substantial doubt about
the Company's ability to continue as a going concern, according to
the regulatory filing.

A copy of the Form 10-Q is available at:

                        http://is.gd/v8SzPB

Juhl Energy, Inc., is one of the established leaders in the clean
and renewable-energy industry focused on community wind power
development, management and ownership throughout the United
States.  Juhl Energy currently has 19 projects with an aggregate
wind power generating capacity of approximately 200 MW.



KID BRANDS: Exclusive Period to File Plan Extended Until July 13
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey granted
Kid Brands, Inc., et al., an extension of their exclusive period to
file Chapter 11 plan until July 13, 2015, and the period to solicit
acceptances for that plan until Sept. 14.

In seeking a third extension, the Debtors explained that after a
comprehensive marketing process, they have sold substantially all
of the assets of debtors Sassy, Inc., Kids Line, LLC, CoCaLo, Inc.,
and certain intellectual property and inventory of LaJobi, Inc.
The Debtors have devoted significant amounts of time to these
sales, which involved overseeing an extensive marketing process,
negotiating with  potential purchasers, negotiating with the
secured parties, preparing and negotiating the terms of asset
purchase agreements, cooperating with the consumer privacy
ombudsman, drafting and negotiating the terms of orders approving
the sales and appearing in Court to obtain approval of the sales.

The Debtors' attorneys can be reached at:

         Kenneth A. Rosen, Esq.
         Steven M. Skolnick, Esq.
         S. Jason Teele, Esq.
         Nicole Stefanelli, Esq.
         Anthony De Leo, Esq.
         LOWENSTEIN SANDLER LLP
         65 Livingston Avenue
         Roseland, NJ 07068
         Tel: (973) 597-2500
         Fax: (973) 597-2400

                     About Kid Brands

Based in Rutherford, New Jersey, Kid Brands, Inc., is a designer,
importer, marketer, and distributor of infant and juvenile
consumer
products.  Its operating subsidiaries consist of Kids Line, LLC,
CoCaLo, Inc., Sassy, Inc., and LaJobi, Inc.  Providing
"everything
but the baby" for a child's nursery, the company sells infant
bedding and accessories under the Kids Line and CoCaLo brands;
nursery furniture under the LaJobi brand; and baby care items
under
the Kokopax and Sassy brands.

Citing their inability to raise capital due to contingent
liabilities and operational issues, Kid Brands and six of its U.S.
subsidiaries each filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No.
14-22582) on June 18, 2014.  To preserve the value of their
assets,
the Debtors are pursuing a sale of the assets pursuant to Section
363 of the Bankruptcy Code.

Judge Donald H. Steckroth oversees the cases.  The Debtors have
sought and obtained an order directing joint administration of
their Chapter 11 cases.

Lowenstein Sandler LLP serves as the Debtors' counsel.
PricewaterhouseCoopers LLP is the Debtors' financial advisor.  GRL
Capital Advisors acts as the Debtors' restructuring advisors.

GRL's Glenn Langberg served as the Debtors' chief restructuring
officer.  Mr. Langberg also oversaw the bankruptcy and sales of
Big
M Inc., operator of the Mandee and Annie Sez stores.  Rust
Consulting/Omni Bankruptcy is the Debtors' claims and noticing
agent.

Salus Capital Partners LLC and Sterling National Bank have
committed to provide up to $49 million in DIP financing to the
Debtors.



KMC REAL ESTATE: Plan Confirmation Orders Affirmed
--------------------------------------------------
District Judge Sarah Evans Barker affirmed the approval of the
confirmation orders in the case captioned KMC REAL ESTATE
INVESTORS, LLC, Debtor, KENTUCKIANA MEDICAL CENTER, LLC Debtor -
Consolidated Party re 4:13-cv-181-SEB-WGH, In Re: KMC REAL ESTATE
INVESTORS, LLC Debtor, In Re: KENTUCKIANA MEDICAL CENTER, LLC
Debtor - Consolidated Party re 413-cv-181-SEB-WGH. The appellate
case is, ABDUL G. BURIDI, Appellant, v. KMC REAL ESTATE INVESTORS,
LLC, et al. Appellees. NANCY J. GARGULA U.S. Trustee, Trustee, NO.
4:13-CV-00179-SEB-WGH (S.D. Ind.).

On August 19, 2013, the bankruptcy court confirmed each of the
Third Amended Plans of Reorganization of debtors KMC Real Estate
Investors, LLC ("KMCREI") and its affiliate Kentuckiana Medical
Center, LLC ("KMC").

Under the KMC Plan, all pre-confirmation equity membership
interests in KMC were cancelled on the effective date of the KMC
Plan, and the Exit Investor, RL BB Financial, LLC, acquired 100% of
the new membership interest in KMC.  

Under the KMCREI Plan, all membership interests in KMCREI were
cancelled and originally provided that 80% of the new membership
interests in the reorganized KMCREI would be issued to the Exit
Investor while the remaining 20% of the new membership interests
were to be issued to Drs. Christodulos Stavens, Eli Hallal, Jeffrey
Campbell, and Renato LaRocca.  The Plan was later amended to
address concerns that the 20% equity distribution could create
possible violations of healthcare law.

Dr. Abdul G. Buridi appealed the bankruptcy court's approval of the
confirmation orders, arguing the following errors committed by the
bankruptcy court: (a) improper delegation of judicial authority
when the bankruptcy court ceded its authority to the Exit Investor
to determine whether distribution of equity to the four physicians
would violate federal healthcare laws; (b) automatic
post-confirmation amendment; (c) substantive consolidation; (d)
contravention of the feasibility requirement (e) allowing
"material" modifications of the injunction set forth in the KMC
Plan; and (f) that the equity distribution set forth in the KMREI
Plan violates $1129(b).

Judge Barker, however, held that Dr. Buridi failed to establish the
errors he imputed to the bankruptcy court.  In her May 8, 2015
order, which is available at http://is.gd/FAiG63from Leagle.com,
Judge Barker affirmed the bankruptcy court's confirmation of the
KMC and KMCREI Plans.

KMC REAL ESTATE INVESTORS, LLC, Debtor, In Re, represented by
Courtney E. Chilcote, TUCKER, HESTER, BAKER & KREBS.

ABDUL G. BURIDI, Appellant, represented by Miles S. Apple, PITT &
FRANK PSC.

KMC REAL ESTATE INVESTORS, LLC, Appellee, represented by Bradley J.
Buchheit, TUCKER, HESTER, BAKER & KREBS, Courtney E. Chilcote,
TUCKER, HESTER, BAKER & KREBS & David Ralph Krebs, TUCKER HESTER
BAKER & KREBS, LLC.

KENTUCKIANA MEDICAL CENTER, LLC, Consolidated Party re
4:13-cv-181-SEB-WGH, Appellee, represented by David Marcus Cantor
-- cantor@derbycitylaw.com -- SEILLER WALTERMAN LLC, Neil C. Bordy
-- bordy@derbycitylaw.com -- SEILLER WALTERMAN LLC & Tyler R.
Yeager, SEILLER WATERMAN LLC.

NANCY J. GARGULA, U.S. Trustee, Trustee, represented by Laura A.
DuVall, OFFICE OF THE U.S. TRUSTEE.

               About KMC Real Estate Investors, LLC

Clarksville, Indiana-based KMC Real Estate Investors LLC owns
certain real property located in Clark County, Indiana, commonly
known as 4601 Medical Plaza Way, Clarksville, Indiana.  The Company
filed for Chapter 11 bankruptcy protection (Bankr. S.D. Ind. Case
No. 11-90930) on April 1, 2011.  Gary Lynn Hostetler, Esq., and
Courtney Elaine Chilcote, Esq., at Hostetler & Kowalik, P.C., in
Indianapolis, Indiana, serve as the Debtor's bankruptcy counsel.
The Debtor disclosed it has undetermined assets and $24.8 million
in liabilities as of the Chapter 11 filing.

Affiliate Kentuckiana Medical Center, LLC, previously sought
Chapter 11 protection (Bankr. S.D. Ind. Case No. 10-93039) on Sept.
9, 2010.

KMC, an entity affiliated with KMCREI, was formed by
Cardiovascular Hospitals of America, LLC and Kentuckiana
Investors, LLC ("KI") to operate a for-profit, physician-owned
acute care hospital located in Clarksville.

Both KMC and KMCREI each obtained confirmation of their respective
plans of reorganization in June 2012 but were unable to consummate
the plans when their investors refused to fund the reorganization.


LIFE TIME FITNESS: S&P Keeps BB- Rating on Upsized $1.5BB Sec. Debt
-------------------------------------------------------------------
Standard & Poor's Ratings Services said its ratings on Chanhassen,
Minn.-based fitness center operator Life Time Fitness Inc.'s senior
secured and senior unsecured debt remain the same following the
company's $150 million increase of its senior secured term loan B
and $150 million reduction of its senior unsecured notes.

The senior secured credit facility, consisting of a $250 million
revolving credit facility due 2020 and a $1.25 billion term loan B
due 2022, is rated 'BB-', with a recovery rating of '1', which
indicates S&P's expectation of very high (90% to 100%) recovery for
lenders in the event of a payment default.

Life Time Fitness's $450 million senior unsecured notes due 2023 is
rated 'CCC+', with a recovery rating of '6', which indicates S&P's
expectation for negligible (0%-10%) recovery of principal in the
event of payment default.

Although the increased term loan B reduces recovery prospects for
first-lien lenders, they remain at the low end of the 90% to 100%
range in line with a '1' recovery rating.  Also, the changes in the
issuance levels are leverage neutral, and as a result, the 'B'
corporate credit rating remains unchanged and the rating outlook
remains stable.

RECOVERY ANALYSIS

Key analytical factors:

S&P's 'BB-' issue-level rating and '1' recovery rating on Life Time
Fitness's upsized $1.5 billion senior secured credit facility
remain unchanged, indicating S&P's expectation for very high
(90%-100%) recovery for lenders in the event of a default.

In addition, S&P's 'CCC+' issue-level rating and '6' recovery
rating on Life Time Fitness's $450 million senior unsecured notes
remain unchanged, indicating S&P's expectation for negligible
(0%-10%) recovery for lenders in the event of a default.

S&P's simulated default scenario contemplates a default occurring
in 2018, reflecting a substantial decline in cash flow due to
prolonged economic weakness and increased competitive pressures,
contributing to severe customer attrition.

S&P believes that if the company were to default, it would continue
to have a viable business model, given Life Time Fitness's high-end
full service clubs, and the good quality of its real estate.  As a
result, S&P believes that lenders would achieve greater value
through reorganization than through a liquidation of the business.


S&P assumes a reorganization following default using an emergence
EBITDA multiple of 7x to value the company.  The 7x multiple
reflects the company's high quality owned fitness clubs, many of
which S&P believes could be converted to office space in a default
scenario, making the owned portfolio attractive to a larger
potential pool of buyers.

Simulated default assumptions:

   -- Simulated year of default: 2018
   -- EBITDA at emergence: $255 million
   -- EBITDA multiple: 7x
   -- LIBOR at default: 2.75%
   -- Margin rise on the credit facility: 2%
   -- Revolver is 85% drawn at the time of default

Simplified waterfall:

   -- Net enterprise value (after 5% admin. expenses): $1.7
      billion
   -- Priority claims: $331 million
   -- Secured first-lien debt: $1.48 billion
      --Recovery expectations: 90% to 100%
   -- Senior unsecured debt: $466 million
     --Recovery expectations: 0% to 10%

RATINGS LIST

Life Time Fitness Inc.

Corporate Credit Rating          B/Stable/--
  $250 mil. revolver due 2020
  Senior Secured                  BB-
   Recovery Rating                1
  $1.25 billion term loan B due 2022
  Senior Secured                  BB-
   Recovery Rating                1
  $450 mil. notes due 2023
  Senior Unsecured                CCC+
   Recovery Rating                6



LSI RETAIL II: Files Full-Payment Plan; Dick Trust Objects
----------------------------------------------------------
LSI Retail II, LLC, filed with the U.S. Bankruptcy Court for the
District of Colorado a proposed plan of reorganization that
provides for the payment of secured and unsecured claims in full
with interest at the closing on the sale of its two parcels of real
property or on the effective date of the Plan.

The Debtor has entered into a purchase and sale agreement with SUSO
4 Roxborough, LP, for the sale of the Debtor's properties in
Littleton, Colorado and Douglas County, Colorado, to SUSO for
$15,618,000.

The Debtor estimates that it owes creditors the following amounts
as of the Petition Date:

* Douglas County Treasurer's Office's $317,990 secured claim;

* 3NP, LLC's $203,690 secured claim;

* State Farm Life Insurance Co.'s $11,950,434 secured claim; and

* Unsecured claims totaling $26,505.

The holders of prepetition equitable interests in the Debtor will
retain their interests following confirmation of the Plan.  Holders
of equity interests will only receive payment after all allowed
claims are paid in full.

The Plan has not "impaired" creditor claims so creditors won't be
entitled to vote on the Plan.  The Debtor said it has not filed a
disclosure statement because it is not soliciting votes on the
Plan.  The Debtor immediately filed a motion seeking confirmation
of the Plan.

A copy of the Plan filed April 23, 2015, is available for free at:

    http://bankrupt.com/misc/LSI_Retail_Ch11_Plan.pdf

                  Non-Controlling Owners Object

Manor House Trust, Dick Family Trust No. 1, and Dick Family Trust
No. 2 contend that the Debtor has filed to show by a preponderance
of the evidence that the Plan complies with all applicable
provisions of 11 U.S.C. Sec. 1129.

The objectors note, among other things, that:

  -- The Plan provides for the assumption and assignment of
substantially all of its unexpired real property leases but the
Debtor did not include its tenants in the creditor matrix;

  -- The Debtor has failed to allow any creditor, including the
Manor House Trust (as the beneficial owner of 3NP, LLC) to credit
bid its debt;

  -- The Debtor's liquidating plan provides for a discharge of all
of its debts, which is contrary to 11 U.S.C. Sec. 1141(d)(3);

  -- Alan Fishman, through the Debtor, is attempting to sell off a
valuable asset in which the Manor House Trust and the Dick Family
Trusts Nos. 1 and 2 have a vested interest; and

  -- The Debtor's Plan appears to require unsecured creditors to
release claims they may have against third parties, including Mr.
Fishman under state law.

The Dick Family Trust No. 1 and the Dick Family Trust No. 2 each
own 49.5% of Land Securities Investors, Ltd. ("LSI").  LSI owns 99%
of the Debtor.  The Manor House Trust is the beneficial owner of
3NP, LLC, which is listed a secured creditor.

The Dick Family Trust No. 1 and The Dick Family Trust No. 2 (and
their respective beneficiaries) have been in litigation with Alan
Fishman, Richard Wigley, Sunset, 3NP, LLC and Pantrust
International, S.A. (the "Trust Litigation").  The issues over
whether Mr. Fishman owes fiduciary duties to the Dick Family Trusts
are now set for trial in October of 2015.  Moreover, the District
Court, City and County of Denver, Colorado has already ruled that
the Dick Family Trusts have standing to sue as limited partners of
LSI.

The Dick Parties are represented by:

         BUECHLER LAW OFFICE, L.L.C.
         Kenneth J. Buechler, Esq.
         1621 18th Street, Suite 260
         Denver, Colorado 80202
         Tel: 720-381-0045
         Fax: 720-381-0382
         E-mail: ken@kjblawoffice.com

                   Sale Approved, Plan Deferred

According to the minutes of the May 27 hearing, the bankruptcy
judge has approved the sale of the properties to SUSO.  As for the
Plan, the Court ordered the Debtor to file and serve a disclosure
statement, along with a motion requesting a single hearing on
confirmation of the Plan and the adequacy of the disclosure
statement.

                     About LSI Retail II, LLC

LSI Retail II, LLC owns real property identified as 8351-8361 N.
Rampart Range Road, Littleton, Colorado 80125 and 1.2 acres of
undeveloped land located on Waterton Canyon Road, Douglas County,
Colorado.  The company is controlled by Alan R. Fishman, through
Sunset Management Services.

LSI Retail II filed a Chapter 11 bankruptcy petition (Bank. D.
Colo. Case No. 15-13375) on April 2, 2015.  The petition was signed
by Mr. Fishman, as president of manager Sunset Management.  The
case has been reassigned to Judge Michael E. Romero from Judge
Sidney B. Brooks.

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

Jeffrey Weinman, Esq., at Weinman & Associates, P.C., serves as the
Debtor's counsel.


LSI RETAIL II: Wins Approval to Sell Assets for $15.6MM
-------------------------------------------------------
LSI Retail II, LLC, sought and obtained approval from the U.S.
Bankruptcy Court for the District of Colorado to sell its real
properties to SUSO 4 Roxborough, LP, for $15,618,000.

Judge Michael E. Romero on May 27 entered an order authorizing the
Debtor to sell its real property identified as 8351-8361 N. Rampart
Range Road, Littleton, Colorado 80125 and 1.2 acres of undeveloped
land located on Waterton Canyon Road, Douglas County, Colorado, to
SUSO 4 Roxborough free and clear of liens and encumbrances and
claims of third parties.

The Debtor said the Purchaser is non-inside third party who is
purchasing the real property in an arm's-length transaction and in
good faith from the Debtor.

The Debtor is authorized to pay the allowed secured claim of the
holders of the deeds of trust on the real property and unpaid
pre-petition real property taxes at the closing on the sale of the
real property.

The Debtor also won approval to pay its broker a commission of 2.5%
of the total gross sale price at closing.  Pursuant to the terms of
a Listing Contract, the Debtor has agreed to pay Mountain High Real
Estate Advisors, Inc., as broker, a real estate commission of 2.5%
of the gross sales price.

The Debtor has agreed to indemnify, defend and hold the Purchaser
harmless from any litigation that is identified as the "Trust
Litigation" which involves the Debtor and The Dick Family Trust No.
1 and The Dick Family Trust No. 2.  The Court has authorized the
Debtor to:

  -- place $100,000 of the proceeds from the sale of the Real
Property in escrow with the Escrow Agent in connection with the
Trust Litigation;

  -- place $250,000 from the proceeds of the sale of the Real
Property in escrow, if required, with the title company issuing
title insurance in connection with the sale to indemnify against
any claims which might be made by the Dick Family Trust No. 1, Dick
Family Trust No. 2 or the Manor House Trust.

                     About LSI Retail II, LLC

LSI Retail II, LLC owns real property identified as 8351-8361 N.
Rampart Range Road, Littleton, Colorado 80125 and 1.2 acres of
undeveloped land located on Waterton Canyon Road, Douglas County,
Colorado.  The company is controlled by Alan R. Fishman, through
Sunset Management Services.

LSI Retail II filed a Chapter 11 bankruptcy petition (Bank. D.
Colo. Case No. 15-13375) on April 2, 2015.  The petition was signed
by Mr. Fishman, as president of manager Sunset Management.  The
case has been reassigned to Judge Michael E. Romero from Judge
Sidney B. Brooks.

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

Jeffrey Weinman, Esq., at Weinman & Associates, P.C., serves as the
Debtor's counsel.


METROPOLITAN HEALTH: S&P Cuts Rating on $127.8MM Bonds to 'BB'
--------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating to
'BB' from 'BB+' on the Kent Hospital Finance Authority, Mich.'s
$127.880 million series 2005A hospital revenue bonds, issued for
Metropolitan Health Corp. (Metro Health).  The outlook is stable.

"The rating action reflects the application of our U.S.
not-for-profit acute care stand-alone hospital criteria published
Dec. 15, 2014 on RatingsDirect," said Standard & Poor's credit
analyst Brian Williamson.

The rating reflects S&P's assessment of Metro Health's adequate
enterprise profile and vulnerable financial profile.  Metro
Health's enterprise profile is driven by the consistent economic
fundamentals of Kent County, while its financial profile is driven
by its weak liquidity and financial flexibility debt levels.  The
rating also reflects S&P's view of turmoil in the leadership team
as Metro Health works toward affiliating with Community Health
Systems.

The 'BB' rating further reflects S&P's view of Metro Health's
overall weak balance sheet ratios, drop in liquidity in the first
half of fiscal 2015, and relatively high concentration of
governmental reimbursement.

The stable outlook reflects S&P's assessment of Metro Health's
stable market position, good operating results, and sufficient debt
service coverage.



MGM RESORTS: Stockholders Elect 11 Directors
--------------------------------------------
MGM Resorts International held its annual meeting of stockholders
on May 28, 2015, at which stockholders:

   (1) elected Robert H. Baldwin, William A. Bible, Mary Chris
       Gay, William W. Grounds, Alexis M. Herman, Roland
       Hernandez, Anthony Mandekic, Rose McKinney-James, James J.
       Murren, Gregory M. Spierkel and Daniel J. Taylor;

   (2) ratified the selection of Deloitte & Touche LLP as the
       independent registered public accounting Firm for the year
       ending Dec. 31, 2015; and

   (3) approved, on an advisory basis, the compensation of the
       Company's named executive officers.

                         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 www.mgmresorts.com.

MGM Resorts reported a net loss attributable to the Company of
$156.60 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.


MIDSTATES PETROLEUM: Issues $20 Million Third Lien Notes
--------------------------------------------------------
Midstates Petroleum Company, Inc. and its wholly owned subsidiary
Midstates Petroleum Company LLC issued approximately $20 million in
aggregate principal amount of Senior Secured Third Lien Notes in a
private placement in exchange for $26.547 million of the Issuers'
10.75% Senior Unsecured Notes due 2020 and $2.025 million of the
Issuers' 9.25% Senior Unsecured Notes due 2021.

The Additional Notes were issued under and are governed by an
indenture dated May 21, 2015, among the Issuers and Wilmington
Trust, National Association, as trustee.  The Issuers entered into
the Third Lien Indenture in connection with their issuance of
$504.1 million in aggregate principal amount of Senior Secured
Third Lien Notes on May 21, 2015.  The Third Lien Indenture governs
both the Additional Notes and the Initial Notes.

The Additional Notes will be initially secured by third-priority
liens on substantially all of the Issuers' assets that secure the
Initial Notes and the Issuers' existing Senior Secured Second Lien
Notes due 2020.  The Third Lien Notes will have an interest rate of
12%, consisting of cash interest of 10% and paid-in-kind interest
of 2% per annum and will mature on the earlier of June 1, 2020, and
12 months after the maturity date of the Company's revolving credit
facility (including any extension or refinancing of such facility).
The Third Lien Indenture contains customary terms, events of
default and covenants relating to, among other things, the
incurrence of debt, the payment of dividends or similar restricted
payments, undertaking transactions with the Company's unrestricted
affiliates and limitations on asset sales.  Indebtedness under the
Additional Notes may be accelerated in certain circumstances upon
an event of default as set forth in the Third Lien Indenture.

In connection with the Exchange, the purchaser of the Additional
Notes joined the registration rights agreement dated May 21, 2015,
previously entered into by the Issuers in connection with the
issuance of the Initial Notes, pursuant to which the Issuers are
obligated, within 270 days after the issuance of the Third Lien
Notes, to file with the Securities and Exchange Commission under
the Securities Act of 1933, as amended, a registration statement
with respect to an offer to exchange the Additional Notes for
substantially identical registered new notes of the Issuers.  The
Issuers will be obligated to pay liquidated damages consisting of
additional interest on the Additional Notes if, within the periods
specified in the agreement, they do not file the exchange offer
registration statement or if certain other events occur.

On May 21, 2015, the Issuers, SunTrust Bank, as priority lien
agent, and Wilmington Trust, National Association, as second lien
collateral agent and third lien collateral agent, entered into an
intercreditor agreement to govern the relationship of the lenders
under the Company's revolving credit facility and holders of the
Second Lien Notes and Third Lien Notes with respect to collateral
and certain other matters.  Additionally, on May 21, 2015, the
Company entered into a Third Lien Pledge and Security Agreement
with Wilmington Trust, National Association, as collateral agent,
relating to certain collateral matters.  The Additional Notes will
be governed by the existing Intercreditor Agreement and Third Lien
Security Agreement.

                 About Midstates Petroleum Company

Midstates Petroleum Company, Inc. --
http://www.midstatespetroleum.com/-- is an independent exploration
and production company focused on the application of modern
drilling and completion techniques in oil and liquids-rich basins
in the onshore U.S. Midstates' drilling and completion efforts are
currently focused in the Mississippian Lime oil play in Oklahoma
and Anadarko Basin in Texas and Oklahoma.  The Company's operations
also include the upper Gulf Coast tertiary trend in central
Louisiana.

Midstates reported net income of $117 million on $794 million of
total revenues for the year ended Dec. 31, 2014, compared to a net
loss of $344 million on $470 million of total revenues for the year
ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $2.47 billion in total assets,
$2 billion in total liabilities and $466 million in total
stockholders' equity.

The Company's independent auditor, Deloittee & Touche LLP, in
Houston, Texas, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that Midstates' projected debt covenant violation and
resulting lack of liquidity raise substantial doubt about its
ability to continue as a going concern.

                             *    *    *

Midstates Petroleum carries a 'B' corporate credit rating from
Standard & Poor's Ratings Services.

As reported by the TCR on April 8, 2013, Moody's Investors Service
affirmed Midstates Petroleum's 'B3' Corporate Family Rating.


MOLYCORP INC: Moody's Lowers CFR to 'Ca', Outlook Negative
----------------------------------------------------------
Moody's Investor Service downgraded the corporate family rating of
Molycorp, Inc. to Ca from Caa2, the probability of default rating
to Ca-PD from Caa2-PD and the rating on the senior secured debt to
Caa3 from B3. Moody's also affirmed the Speculative Grade Liquidity
rating of SGL-4. The outlook is negative. The rating action follows
the company's announcement that it has elected to take advantage of
the 30 day grace period with respect to the $32.5 million
semi-annual interest payment due June 1, 2015 on its senior secured
notes. The company stated that it intends to use the grace period
to continue to evaluate different options to restructure its
capital structure.

Downgrades:

Issuer: Molycorp, Inc.

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

  -- Corporate Family Rating, Downgraded to Ca from Caa2

  -- Senior Secured Regular Bond/Debenture (Local Currency),
     Downgraded to Caa3, LGD2 from B3, LGD2

Affirmations:

  -- Speculative Grade Liquidity Rating, Affirmed SGL-4

Outlook Actions:

  -- Outlook, Changed To Negative From Stable

The downgrade reflects the continued pressure on the company's
credit profile, and a capital structure that has become untenable.
The ratings also reflect the expected recovery in the event of
bankruptcy.

The Ca corporate family rating continues to reflect the company's
modest size and diversity, inherent volatility of the company's
margins, high debt levels and weak liquidity. At the same time, the
ratings are supported by the good resource base, potential for
competitive cost structure once full capacity is achieved, and
substantively reduced capex requirements going forward. Although
Moody's acknowledge that Molycorp is the largest rare earths
producer in the Western hemisphere and owns one of the world's
largest, most developed rare earths projects outside of China, one
of the key rating drivers is that China still produces most of the
world's rare earths elements and the country's production and
exporting behavior dictates market pricing.

Given that the company is taking advantage of the grace period with
respect to the interest payment due and is exploring options to
restructure its capital structure, an upgrade isunlikely. However,
the ratings or outlook could be favorably impacted if the company
were able to significantly improve its operating performance and
debt protection metrics. reduce its debt levels and/or improve cash
flow generation.

A downgrade would result should liquidity continue to deteriorate
further and recovery in a restructuring results in a higher than
expected loss to the creditors.

Molycorp, Inc.'s ratings were assigned by evaluating factors that
Moody's considers relevant to the credit profile of the issuer,
such as the company's (i) business risk and competitive position
compared with others within the industry; (ii) capital structure
and financial risk; (iii) projected performance over the near to
intermediate term; and (iv) management's track record and tolerance
for risk. Moody's compared these attributes against other issuers
both within and outside Molycorp, Inc.'s core industry and believes
Molycorp, Inc.'s ratings are comparable to those of other issuers
with similar credit risk. Other methodologies used include Loss
Given Default for Speculative-Grade Non-Financial Companies in the
U.S., Canada and EMEA published in June 2009.


MOLYCORP INC: Prepares to File for Bankruptcy Protection
--------------------------------------------------------
Matt Jarzemsky and John W. Miller, writing for The Wall Street
Journal, reported that Molycorp Inc., the only U.S. miner and
processor of rare-earths elements, plans to file for Chapter 11
bankruptcy protection as soon as this month to cut its $1.7 billion
debt load, according to people familiar with the matter.

The Greenwood Village, Colo.-based company is completing a plan
that would involve senior bondholders exchanging some or all of
their debt for ownership of the company, the Journal said, citing
some of the people.  It is exploring options such as an equity sale
to junior creditors and shareholders to ensure the company would
emerge in sound financial health, they added, the Journal related.

                          About Molycorp

Molycorp Inc. -- http://www.molycorp.com/-- produces specialized  

products from 13 different rare earths (lights, mids and heavies),
the transition metal yttrium, and five rare metals (gallium,
indium, rhenium, tantalum and niobium).  It has 26 locations
across 11 countries.  Through its joint venture with Daido Steel
and the Mitsubishi Corporation, Molycorp manufactures
next-generation, sintered neodymium-iron-boron ("NdFeB") permanent
rare earth magnets.

Molycorp reported a net loss of $623 million in 2014, a net loss
of $377 million in 2013 and a net loss of $475 million in 2012.

As of March 31, 2015, the Company had $2.49 billion in total
assets, $1.78 billion in total liabilities and $709 million in
total stockholders' equity.

KPMG LLP, in Toronto, Canada, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2014, stating that the Company continues to
incur operating losses, has yet to achieve break-even cash flows
from operations, has significant debt servicing costs and is
currently not in compliance with the continued listing
requirements
of the New York Stock Exchange.  These conditions, among other
things, raise substantial doubt about the Company's ability to
continue as a going concern.

The Troubled Company Reporter, on June 4, 2015, reported that
Molycorp, Inc., has elected to take advantage of the 30-day grace
period with respect to the $32.5 million semi-annual interest
payment due June 1, 2015, on its 10% Senior Secured Notes due
2020,
as provided for in the indenture governing the notes.

                           *     *     *

In June 2014, Moody's Investors Service downgraded the corporate
family rating of Molycorp to 'Caa2' from 'Caa1'.  The downgrade
reflects continued weakness in rare earths pricing environment,
ongoing negative free cash flows, weak liquidity and high
leverage.

As reported by the TCR on Dec. 12, 2014, Molycorp has a 'CCC+'
corporate credit rating, with negative outlook, from Standard &
Poor's.  "The negative outlook reflects our view that Molycorp's
business and financial condition will become increasingly
precarious unless the Mountain Pass facility can be brought to
full production capacity," said S&P's credit analyst Cheryl Richer.


MOUNTAIN GLACIER: Case Summary & 17 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Mountain Glacier LLC
        308 Space Park South
        Nashville, TN 37211

Case No.: 15-03817

Chapter 11 Petition Date: June 3, 2015

Court: United States Bankruptcy Court
       Middle District of Tennessee (Nashville)

Judge: Hon. Keith M Lundin

Debtor's Counsel: William L Norton, III, Esq.
                  BRADLEY ARANT BOULT CUMMINGS LLP
                  PO Box 340025
                  Nashville, TN 37203
                  Tel: 615 252-2397
                  Fax: 615-252-6397
                  Email: bnorton@babc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jay Peterson, president.

A list of the Debtor's 17 largest unsecured creditors is available
for free at http://bankrupt.com/misc/tnmb15-03817.pdf


MUSKEGON REDEVELOPMENT: Regains Apartment Building; In Chapter 11
-----------------------------------------------------------------
John S. Hausman, writing for Mlive.com, reports that the Hon. James
W. Boyd of the U.S. Bankruptcy Court for the Western District of
Michigan issued an order on June 1, 2015, compelling receiver
Trigild Inc. to turn over the 126-unit Amazon apartment building in
Muskegon, Michigan, to owner Muskegon Redevelopment Limited
Dividend Housing Association Limited Partnership.

According to Mlive.com, the ruling removes the Receiver, whom
Muskegon County Probate Judge Neil G. Mullally appointed in January
to control the apartment complex.

Mlive.com says that Judge Boyd previously issued an order
authorizing the reissuance of checks restoring security deposits to
former tenants whose returned deposits had bounced due to the
bankruptcy filing.  

Mlive.com relates that the Company filed for Chapter 11 bankruptcy
protection (Bankr. W.D. Mich. Case No. 15-02406) on April 21, 2015,
to try to stop foreclosure by the building's main creditor, MTGLQ
Investors L.P., and to keep operating the apartment building.  The
Chapter 11 petition was signed by William Rhoten, vice president,
Alliant Real Estate Investments, LLC.

MTGLQ, Mlive.com recalls, sued the Company in July 2014 in Muskegon
County court, seeking foreclosure and appointment of a receiver to
control the property in the meantime.  Court filings indicate that
the Company defaulted on a multimillion-dollar loan that came due
Oct. 1, 2012, although the owners claim they continued to make
monthly mortgage payments until the 2014 foreclosure filing.  

Mlive.com reports that the Company, after filing for Chapter 11
protection, sought a federal court order restoring possession to
itself while it tries to reorganize.  MTGLQ objected to the motion,
claiming that the Company "mismanaged" the property and that the
Amazon is too deeply in debt to reorganize successfully, the report
adds.

Robert D. Gordon, Esq., John R. Stevenson, Esq., and Kristen M.
Howard, Esq., at Clark Hill PLC, serve as the Company's bankruptcy
counsel.

The Company estimated its assets and debts at between $1 million
and $10 million each.

Muskegon Redevelopment Limited Dividend Housing Association Limited
Partnership is headquartered in Muskegon, Michigan.


NEPHROS INC: Receives Notice of Allowance for U.S. Patent
---------------------------------------------------------
Nephros, Inc. received a notice of allowance for U.S. Patent
Application No. 13/888,645, "Method and Apparatus of Flush Pump
Feature for Portable Liquid Purifying Filter", according to a
document filed with the Securities and Exchange Commission.  The
Notice of Allowance covers claims relating to certain accessories
used with the Company's HydraGuard individual water purifier
devices.

The HydraGuard ultrafilter membrane provides a barrier to block
sediment, bacteria, parasites, viruses and cysts from water
filtered by the membrane.  The flush pump apparatus, as described
in the Patent claims, provides a mechanism to provide real-time
verification of filter integrity, to enable the user to clean the
filter membrane while inside the filter casing, and to purge the
filter for lighter storage or for protection against freeze-related
damage in cold environments.  The combination of the Company's
ultrafilter membrane and the Company's flush pump apparatus enabled
the HydraGuard to pass the NSF Protocol P248 for Military
Operations Microbiological Water Purifiers.

Barring any unforeseen circumstances, the Company believes the
Patent should be valid until May 2033 given the Patent filing
occurred in May 2013.  The Company licensed all intellectual
property relating to the HydraGuard individual water purifier
devices, including the Patent, to Camelbak Products, LLC as part of
a Sublicense Agreement on May 6, 2015.  The Sublicense Agreement
expires on Dec. 31, 2022, unless terminated sooner in accordance
with the terms of the agreement.

                         FDA Warning Letter

The Company received a warning letter dated May 27, 2015, from the
U.S. Food and Drug Administration resulting from an inspection of
the Company's facility in River Edge, New Jersey by the FDA's New
Jersey District Office that occurred during October 2014.  The
Warning Letter alleges deficiencies relating to the Company's
compliance with the Quality System regulation and the Medical
Device Reporting regulation.  The Company said it takes the matters
identified in the Warning Letter seriously and is in the process of
evaluating the corrective actions required to address the matters
raised in the Warning Letter.  The Company also is in the process
of preparing a response to the Warning Letter and intends to
respond fully to the issues raised by the FDA within 15 business
days as requested by the FDA, and to work diligently and
expeditiously to resolve the issues raised by the FDA.  The Warning
Letter does not restrict the manufacture, production or shipment of
any of the Company's products, nor require the withdrawal of any
product from the marketplace.  However, failure to promptly address
the issues raised in the Warning Letter to the FDA's satisfaction
or to comply with U.S. medical device regulatory requirements in
general could result in regulatory action being initiated by the
FDA.  These actions could include, among other things, delays in
approval of any FDA applications, product seizures, injunctions and
civil monetary penalties.  Any such actions could disrupt our
ongoing business and operations and potentially have a material
adverse impact on our financial condition and operating results.

                           About Nephros

River Edge, N.J.-based Nephros, Inc., is a commercial stage
medical device company that develops and sells high performance
liquid purification filters.  Its filters, which it calls
ultrafilters, are primarily used in dialysis centers and
healthcare facilities for the production of ultrapure water and
bicarbonate.

Nephros reported a net loss of $7.37 million on $1.74 million of
total net revenues for the year ended Dec. 31, 2014, compared to
net income of $1.32 million on $1.74 million of total net revenues
for the year ended Dec. 31, 2013.

As of March 31, 2015, the Company had $2.62 million in total
assets, $8.03 million in total liabilities and a $5.41 million
total stockholders' deficit.

Withum Smith+Brown PC, in Morristown, New Jersey, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has incurred
negative cash flow from operations and recurring net losses since
inception.  These conditions, among others, raise substantial doubt
about its ability to continue as a going concern.


NEW HORIZONS HEALTH: Files for Ch 11 Bankruptcy; To Sell Assets
---------------------------------------------------------------
New Horizons Health Systems, Inc., filed for Chapter 11 bankruptcy
protection (Bankr. E.D. Ky. Case No. 15-30235) on May 29, 2015,
estimating its assets at between $1 million and $10 million and
liabilities at between $10 million and $50 million.  The petition
was signed by Bernard T. Poe, president.

Laura Day DelCotto, writing for Lexology.com, reports that the
Company said that it has been exploring sale options for a year,
and that it has recently decided that a sale through the bankruptcy
court process is its best option.  

Lexology.com relates that the Owen County Hospital, which the
Company operates, said that it intends to remain open until it can
be sold.

Judge Gregory R. Schaaf presides over the case.

Ellen Arvin Kennedy, Esq., at Dinsmore & Shohl LLP serves as the
Company's bankruptcy counsel.

Kelley S. Gamble, CPA, is the Company's accountant.

Headquartered in Owenton, Kentucky, New Horizons Health Systems,
Inc. -- dba New Horizons Medical Center, dba New Horizons Family
Practice -- operates the Owen County Hospital.  The hospital serves
the counties of Owen, Gallatin, and Carroll and has operated
continually since 1951.


NIRVANA INC: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

     Debtor                                     Case No.
     ------                                     --------
     Nirvana, Inc.                              15-60823
     One Nirvana Plaza
     Forestport, NY 13338

     Nirvana Transport, Inc.                    15-60824

     Nirvana Warehousing, Inc.                  15-60825

     Millers Wood Development Corp.             15-60826

Type of Business: Manufacturer and bottler of spring water

Chapter 11 Petition Date: June 3, 2015

Court: United States Bankruptcy Court
       Northern District of New York (Utica)

Judge: Hon. Diane Davis

Debtor's Counsel: Stephen A. Donato, Esq.
                  BOND, SCHOENECK & KING, PLLC
                  One Lincoln Center
                  Syracuse, NY 13202-1355
                  Tel: (315) 218-8000
                  Fax: 315-218-8100
                  Email: sdonato@bsk.com

                    - and -

                  Camille Wolnik Hill, Esq.
                  BOND, SCHOENECK & KING, PLLC
                  One Lincoln Center
                  Syracuse, NY 13202-1355
                  Tel: (315) 218-8000
                  Fax: 315-218-8100
                  Email: chill@bsk.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Mozafar Rafizadeh, president and CEO.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
5 Boro Green Services, LLC           Trade Debt          $351,451
54-35 48th Street
Maspeth, NY 11378

American Express                     Credit Card         $359,410
1801 NW 66 Avenue                      Charges
Suite 103A
Fort Lauderdale, FL
33313-4571

Automation Experts, Inc.              Trade Debt          $49,624

Best Yet Market                       Trade Debt          $53,968

Blue Tractor Foods, LLC                                   $86,554

Comsource, Inc.                       Promissory         $100,000
                                         Note

Comsource, Inc.                    Injection Molding   $3,074,586
8104 Cazenovia Road                   Equipment
Manlius, NY 13104

Dannible & McKee, LLP (5000)       Services provided      $45,750

DWS Associates, Inc.                  Trade Debt         $194,533

Gasiad, Inc.                         Settlement           $92,675
                                     Agreement

Georgia Pacific, LLC                 Trade Debt           $82,424

Licaplast                            Trade Debt           $86,414

Nan Ya Plastics (F001)               Trade Debt          $517,645
9 Peach Tree Hill Road
Livingston, NJ 07039

National Grid (0105)              Ulitity services        $43,458

NYS Dept. of Taxation &           Bottle deposits      $1,544,414
Finance (5474)
Attn: Bankruptcy Section
P.O. Box 5300
Albany, NY 12205

Selenis Canada, Inc.                 Trade Debt           $67,438

Shumaker Consulting                  Trade Debt           $39,994
Engineering
& Land Surveying

State of Connecticut              Bottle deposits        $769,385
Department of Environmental
Protection
79 Elm Street
Hartford, CT 06106

The Nielsen Company, LLC (0926)      Trade Debt           $39,306

TOMRA Pacific, Inc.                  Trade Debt        $1,112,151
1 Corporate Drive
Suite 710
Shelton, CT 06484


NIRVANA INC: Files Chapter 11 to Sell Spring Water Business
-----------------------------------------------------------
Natural-spring bottler Nirvana Inc. and three affiliates sought
bankruptcy protection with plans to pursue a quick sale of their
businesses as going concerns pursuant to Sec. 363 of the Bankruptcy
Code.

The Debtors said they have prepared a sale motion with a proposed
asset purchase agreement and will file the motion shortly.  Nirvana
didn't identify the proposed buyer for the assets.  The Debtors did
say anticipate that the purchaser will continue to operate the
water bottling business at the Forestport, New York facility, and
retain many of their employees.  The sale of the Debtors' assets
will be subject to higher and better offers and the approval of
this Court.

The Debtors are four affiliated companies that each plays a
specific functional role in the overall bottling operation.
Nirvana, Inc., is the core business that produces and packages the
bottled water. Nirvana Transport, Inc. provides transportation
services to Nirvana and other parties.  Millers Wood Development
Corp.  is the real estate holding company that owns the 1,600-acre
property and Nirvana Warehousing, Inc. provides warehousing
services for Nirvana.  Nirvana has 55 full-time employees,
Transport has 3, Warehousing has 14, and Millers Wood has no
employees.

Nirvana's net sales have declined from a high of $28.6 million in
2012 to projected sales of less than $20.0 million for 2015 as a
result of Nirvana's cash shortage and inability to pay for resin
and other materials needed to manufacture the bottles and packing
required to satisfy customer orders and the increased competition
from other, larger water bottling companies.  As a result, Nirvana
has incurred operating losses in 2012, 2013 and 2014 of $1.47
million, $3.70 million and $3.97 million, respectively
Since January 2014, the Debtors explored all available options,
including seeking refinancing, new capital contributions and a
going concern buyer for the assets.  Nirvana engaged investment
banker Next Point, LLC, and other business brokerage firms to
market the assets and business operations.

Although several potential financial and/or strategic purchasers
expressed interest in acquiring the Debtors' assets and operations
and conducted due diligence, none of the purchases submitted a
final purchase offer to the Debtors.

Absent Chapter 11 relief, Nirvana projects that it will not have
sufficient cash flow to continue its operations past June 2015.

                     $27-Mil. Secured Debt

As of the Petition Date, the Debtors are indebted to secured
creditors NBT Bank, the U.S. Small Business Administration, through
the Empire State Certified Development Corp., the New York State
Business Development Corporation, the Statewide Zone Capital
Corporation of New York, Northeast Bank/United States Department of
Agriculture and Comsource, Inc. in the aggregate principal amount
of $27,204,092.

During late 2013, the Debtors defaulted on their obligations under
the prepetition loan documents.  From January 14, 2014 through the
Petition Date, the Debtors have been parties to forbearance
agreements, as modified from time to time, with NBT, ESCDC/SBA,
NYBDC and S7CC concerning their respective obligations.

The Prepetition Lenders have signed a stipulation consenting to the
Debtors' use of cash collateral to maintain operations pending a
sale of the assets.  Lenders have agreed to a carve-out from the
asset sale proceeds of $200,000 for administrative expense claims
and an additional carve out for quarterly fees required under 28
U.S.C. Sec. 1930(a)(6).

                        First Day Motions

The Debtors on the Petition Date filed motions to:

   -- jointly administer their Chapter 11 cases;
   -- use cash collateral;
   -- maintain their existing bank accounts;
   -- pay prepetition wages and benefits;
   -- pay prepetition taxes and fees; and
   -- continue their insurance policies.

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

    http://bankrupt.com/misc/Nirvana_1st_Day_Affidavit.pdf

                        About Nirvana Inc.

Nirvana Inc. is a manufacturer and bottler of spring water that is
captured from four natural springs on 1,600 acres of property
located in the foothills of the Adirondack Mountains at Forestport,
New York.  Nirvana says its water is exceptionally pure and flows
naturally to the surface at a temperature of 42 degrees
Fahrenheit.

Nirvana is a closely-held New York corporation with a principal
office located at One Nirvana Plaza, Forestport, New York. Nirvana
was formed on June 2, 1995 by Mozafar Rafizadeh and his brother,
Mansur Rafizadeh.

Nirvana, Inc., and three affiliates -- Nirvana Transport, Inc.,
Nirvana Warehousing, Inc. and Millers Wood Development Corp. --
sought Chapter 11 bankruptcy protection (Bankr. N.D.N.Y. Lead Case
No. 15-60823) in Utica, New York, on June 3, 2015.   The cases are
assigned to Judge Diane Davis.

According to the docket, the Debtors' Chapter 11 plan and
disclosure statement are due Oct. 1, 2015.  The deadline for filing
claims by governmental units is Nov. 30, 2015.

The Debtors tapped Bond, Schoeneck & King, PLLC, as general
counsel, and Teitelbaum & Baskin, LLC, as special counsel.


NIRVANA INC: Seeks to Use Lenders' Cash Collateral
--------------------------------------------------
Nirvana Inc. and its debtor-affiliates are asking the U.S.
Bankruptcy Court for the Northern District of New York to enter
interim and final orders authorizing them to use cash collateral of
their prepetition lenders.

As of the Petition Date, the Debtors are indebted to secured
creditors NBT Bank ("NBT"), the U.S. Small Business Administration,
through the Empire State Certified Development Corp. ("ESCDC/SBA"),
the New York State Business Development Corporation ("NYBDC"), the
Statewide Zone Capital Corporation of New York ("SZCC"), Northeast
Bank/United States Department of Agriculture ("NEB/USDA") and
Comsource, Inc. ("Comsource") in the aggregate principal amount of
$27,204,092.  The Lenders' perfected security interests and liens
cover substantially all of the Debtors' assets, including accounts
receivable and cash.

As of the Petition Date, the Debtors have very little or no
unencumbered cash that can be used to fund their business
operations and pay operating expenses.  Absent the ability to use
cash collateral, the debtors will not be able to pay insurance,
wages, utility charges, and other critical operating expenses.

In order to adequately protect the Prepetition Secured Lenders'
interest in the cash collateral, the Debtors propose to grant to
each of the lenders, in accordance with their relative priority,
adequate protection rollover liens, subject to a carve-out, to
secure their adequate protection obligations.

As set forth in a Contribution Agreement dated as of April 14,
2015, and executed by certain of the Prepetition Lenders (the
"Contributing Prepetition Secured Lenders"), the Contributing
Prepetition Lenders have agreed to a carve-out from the asset sale
proceeds in the amount of $200,000 for payment of administrative
expense claims incurred by the Debtors' professionals for
post-petition fees and expenses incurred in these cases (the
"Carve-Out").  An additional carve-out is provided for the
quarterly fees required to be paid pursuant to 28 U.S.C. Sec.
1930(a)(6).

Mozafar Rafizadeh, president of Nirvana, says that the Debtors have
received consent from NBT, ESCDC/SBA, NYBDC and SZCC regarding the
form of the emergency order authorizing the Debtors' cash
collateral and granting adequate protection submitted to the Court
with the Debtors' emergency application to use cash collateral.

                        About Nirvana Inc.

Nirvana Inc. is a manufacturer and bottler of spring water that is
captured from four natural springs on 1,600 acres of property
located in the foothills of the Adirondack Mountains at Forestport,
New York.  Nirvana says its water is exceptionally pure and flows
naturally to the surface at a temperature of 42 degrees
Fahrenheit.

Nirvana is a closely-held New York corporation with a principal
office located at One Nirvana Plaza, Forestport, New York. Nirvana
was formed on June 2, 1995 by Mozafar Rafizadeh and his brother,
Mansur Rafizadeh.

Nirvana, Inc., and three affiliates -- Nirvana Transport, Inc.,
Nirvana Warehousing, Inc. and Millers Wood Development Corp. --
sought Chapter 11 bankruptcy protection (Bankr. N.D.N.Y. Lead Case
No. 15-60823) in Utica, New York, on June 3, 2015.   The cases are
assigned to Judge Diane Davis.

According to the docket, the Debtors' Chapter 11 plan and
disclosure statement are due Oct. 1, 2015.  The deadline for filing
claims by governmental units is Nov. 30, 2015.

The Debtors tapped Bond, Schoeneck & King, PLLC, as general
counsel, and Teitelbaum & Baskin, LLC, as special counsel.


NORAM RESOURCES: Court Rules on Bids for Summary Judgment
---------------------------------------------------------
Bankruptcy Judge Marvin Isgur ruled on the parties' cross-motions
for summary judgment in the case WILLIAM G WEST, Plaintiff(s), v.
FREDERICK E PETERSON, et al., Defendant(s), Adv. Proc. No.
11-03598 (S.D. Tex., Houston Div.)

William G. West, chapter 7 trustee for the estates of Ausam Energy
Corp. and Noram Resources, Inc., sued Frederick E. Peterson,
Richard T. Aab, and Brian E. Bro for turnover of estate property.
This referred to the proceeds of an executive and organizational
liability insurance policy allegedly owned by the Ausam/Noram
estates, which were paid to the defendants after the settlement of
their state court lawsuits against former Ausam directors and
officers.

West moved for summary judgment.  Peterson, Aab, and Bro filed a
cross motion for summary judgment.

Judge Isgur found that when West settled Adversary Proceeding No.
10-3701 with the Ausam Directors, the Settlement Agreement already
included recovery for the negligence claims against the Ausam
directors.  This would result to double recovery by the Trustee if
he were granted recovery from the defendants as well.

In his May 11, 2015 memorandum opinion, which is available at
http://is.gd/bqKEaXfrom Leagle.com, Judge Isgur:

     -- denied West's motion for summary judgment;

     -- granted the defendants' motion for summary judgment to
        the extent it seeks a declaration that West may not
        recover the portion of the settlement proceeds that
        represent damages arising from the negligence claims; and

     -- denied the defendants' motion for summary judgment to the
        extent it seeks to bar all recovery of the settlement
        proceeds.

                   About Noram Resources, Inc.

Noram Resources, Inc., a subsidiary of Ausam Energy Corp., is an
oil and gas company incorporated under the laws of Alberta, Canada.
Ausam Energy Corp. and Noram Resources Inc. filed chapter 11
bankruptcy petitions (Bankr. S.D. Tex. Case Nos. 08-38222 and
08-38223) on Dec. 30, 2008.

Ausam/Noram's major secured creditor was Huff Energy Fund, L.P.
Ausam/Noram executed a $25,000,000 Senior Secured Convertible
Debenture in favor of Huff.  Under the terms of the Debenture,
Ausam/Noram was limited in its ability to issue shares.  Ausam
nonetheless issued shares and warrants on Oct. 24, 2008, which
triggered a default under the Debenture.

Noram listed liabilities of $31,957,438.50 and assets of
$507,684.32.  

The cases were converted to chapter 7 cases on Feb. 26, 2009.
William West was appointed chapter 7 trustee on Feb. 27, 2009.


NORCRAFT COS: S&P Withdraws 'B+' Corporate Credit Rating
--------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Eagan, Minn.-based Norcraft Cos. L.P. to 'BBB'
from 'B+' following S&P's assignment of a corporate credit rating
to Deerfield, Ill.-based Fortune Brands Home & Security Inc.
(FBHS), which has completed the acquisition of the company.  At the
same time, S&P removed all its ratings on Norcraft from
CreditWatch, where S&P had placed them with positive implications
on April 6, 2015.  The outlook is stable.  S&P subsequently
withdrew all of its corporate credit and issue-level ratings on
Norcraft Cos. L.P. and its existing term loan, which has been
repaid.

"We raised the ratings on Norcraft and removed them from
CreditWatch to reflect our view that its credit quality is now
aligned with that of FBHS following the May 12, 2015, closing of
the acquisition by the building products and padlock maker and the
subsequent assignment of a corporate credit rating," said Standard
& Poor's credit analyst Maurice Austin.  "We withdrew the ratings
because the company's debt has been repaid."



NORTHWEST BANCORP: Files Schedules of Assets and Liabilities
------------------------------------------------------------
Northwest Bancorporation of Illinois, Inc., filed with the U.S.
Bankruptcy Court for the Northern District of Illinois its
schedules of assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $20,335,395
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                       $0
  E. Creditors Holding
     Unsecured Priority
     Claims                                               $0
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                      $51,295,196
                                 -----------     -----------
        Total                    $20,335,395     $51,295,196

A copy of the schedules is available for free at:

http://bankrupt.com/misc/NorthwestBancorporation_29_SAL_May8.pdf

                  About Northwest Bancorporation

Northwest Bancorporation of Illinois, Inc., formerly known as
Hershenhorn Bancorporation, Inc., is a bank holding company that
owns 100 percent of the outstanding shares of First Bank and Trust
Company of Illinois, a single-branch bank in Palatine, Illinois.
Approximately 90 percent of Northwest Bancorporation's equity is
owned by Robert Hershenhorn and his family.

Northwest Bancorporation commenced a Chapter 11 bankruptcy case
(Bankr. N.D. Ill. Case No. 15-15245) in Chicago, Illinois, on April
29, 2015.  The case is assigned to Judge Carol A. Doyle.

The Debtor tapped Kirkland & Ellis LLP as counsel, and River Branch
Capital LLC as financial advisor.

Northwest Bancorporation of Illinois, Inc., the parent of First
Bank and Trust Co. of Illinois, won approval from the U.S.
Bankruptcy Court of its Prepackaged Chapter 11 Plan of
Reorganization.  Judge Carol A. Doyle on May 21, 2015, entered an
order confirming the Prepackaged Plan and approving the explanatory
Disclosure Statement.


PACIFIC DRILLING: Bank Debt Trades at 12% Off
---------------------------------------------
Participations in a syndicated loan under which Pacific Drilling
Ltd. is a borrower traded in the secondary market at 87.71
cents-on-the- dollar during the week ended Friday, May 29, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in the June 2, 2015 edition of The Wall Street Journal.
  
This represents a decrease of 1.44 percentage points from the
previous week, The Journal relates. Pacific Drilling Ltd. 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 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



PAPERWORKS INDUSTRIES: S&P Keeps 'B-' Sec. Notes Rating Over Add-on
-------------------------------------------------------------------
Standard & Poor's Ratings Services said that its 'B-' issue-level
rating on Bala Cynwyd, Pa.-based PaperWorks Industries Inc.'s
senior secured notes is not affected by the company's announcement
that it intends to issue a $90 million add-on to its existing
senior secured notes due 2019.  The recovery rating is '4',
indicating S&P's expectation for average (30% to 50%; lower end of
the range) recovery in the event of a payment default.  The 'B-'
corporate credit rating and stable outlook are unchanged.

S&P expects PaperWorks to use $80 million of proceeds to acquire
Canadian printing and packaging company CanamPAC ULC.  The
acquisition will initially raise leverage to more than 7x EBITDA,
but S&P expects the company to realize modest fixed cost reductions
and other potential synergies that will bring leverage in line with
current credit measures (debt to EBITDA in the 6x to 7x range) over
the next two to three years.  PaperWorks is owned by affiliates of
financial sponsor, Sun Capital Partners Inc.

Forecast leverage and financial sponsorship are consistent with a
"highly leveraged" financial risk profile.  The company's "weak"
business risk profile is characterized by the company's small size
and its participation in the highly competitive paperboard folding
carton market partially offset by contractual pass-through
provisions that help mitigate volatile recycled fiber costs.

Ratings List

PaperWorks Industries Holding Corp.
Corporate credit rating                        B-/Stable/--

Ratings Unchanged
PaperWorks Industries Inc.
Senior secured
  $365 mil 9.5% sr notes due 2019*              B-
  Recovery rating                               4L

*Include $90 million add-on.



PARHAM CONSTRUCTION: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Parham Construction Company
        1766 Scottsville Road
        Charlottesville, VA 22902

Case No.: 15-61060

Chapter 11 Petition Date: June 3, 2015

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

Judge: Hon. Rebecca B. Connelly

Debtor's Counsel: Douglas E. Little, Esq.
                  DOUGLAS E. LITTLE, ATTORNEY AT LAW
                  P.O. Box 254
                  Charlottesville, VA 22902
                  Tel: (434) 977-4500
                  Email: delittleesq@aol.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ronald E. Parham, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/vawb15-61060.pdf


PATRIOT COAL: Files Intent to Sell Assets Under Chapter 11 Plan
---------------------------------------------------------------
Patriot Coal Corporation, a producer and marketer of coal in the
eastern United States, on June 3 disclosed that it has filed with
the Bankruptcy Court a letter of intent for a proposed sale of a
substantial majority of its operating assets to Blackhawk Mining,
LLC, as well as a motion outlining bidding procedures.  The
contemplated transaction would be consummated pursuant to a chapter
11 plan and is subject to documentation of a definitive asset
purchase agreement, bankruptcy court approval of the sale,
confirmation of a chapter 11 plan, and other customary conditions.
Patriot's mining operations and customer shipments will continue in
the ordinary course during the sale process.

Under the terms of the letter of intent, Blackhawk would issue to
Patriot's secured lenders new debt securities totaling
approximately $643 million plus Class B Units providing them an
ownership stake in Blackhawk.  In addition, Blackhawk would assume
or replace surety bonds supporting reclamation and related
liabilities associated with the purchased assets.

Bob Bennett, President and Chief Executive Officer of Patriot,
said, "We feel strongly that the proposed transaction with
Blackhawk is in the best interest of Patriot, and its employees and
stakeholders.  Blackhawk shares our dedication to operational and
environmental excellence, and this transaction creates a viable
path forward in this challenging market environment, enabling our
mining operations to continue serving customers and preserving jobs
in the communities in which they operate.  As always, we remain
committed to operating safely and serving our customers throughout
this sale process."

Patriot is continuing to negotiate with Blackhawk on the terms of a
formal asset purchase agreement.  Certain Patriot assets not
included in the proposed transaction with Blackhawk will be subject
to a separate sale process outlined in the bidding procedures
motion filed on June 3.  

Court filings and other information related to the proposed
transaction and the reorganization proceedings are available at a
website administered by the Company's claims agent, Prime Clerk, at
https://cases.primeclerk.com/patriotcoal

                       About Patriot Coal

Patriot Coal Corporation is a producer and marketer of coal in the
United States.  Patriot and its subsidiaries control 1.4 billion
tons of proven and probable coal reserves -- including owned and
leased assets in the Central Appalachia basin (in West Virginia and
Ohio) and Southern Illinois basin (in Kentucky and Illinois) - and
their operations consist of eight active mining complexes in West
Virginia.

Patriot Coal first sought Chapter 11 protection on July 9, 2012,
and, on Dec. 18, 2013, won approval of its bankruptcy-exit plan
from the U.S. Bankruptcy Court for the Eastern District of
Missouri.  The plan turned over most of the ownership of the
company to bondholders that include New York hedge fund Knighthead
Capital Management LLC.  The linchpins of the plan were a global
settlement among the Debtors, the United Mine Workers of America,
and two third parties -- Peabody Energy Corporation and Arch
Coal,Inc. -- and a commitment by a consortium of creditors, led
byKnighthead, to backstop two rights offerings that funded the
plan.

Patriot Coal Corporation and its subsidiaries commenced new Chapter
11 cases (Bankr. E.D. Va. Lead Case No. 15-32450) in Richmond,
Virginia, on May 12, 2015.  The cases are assigned to Judge Keith
L. Phillips.

The Debtors tapped Kirkland & Ellis LLP as counsel; Kutak Rock
L.L.P., as co-counsel; Centerview Partners LLC as investment
bankers; Alvarez & Marsal North America, LLC, as restructuring
advisors; and Prime Clerk LLC, as claims and administrative agent.

The U.S. trustee overseeing the Chapter 11 case of Patriot Coal
Corp. appointed seven creditors of the company to serve on the
official committee of unsecured creditors.

Patriot Coal estimated more than $1 billion in assets and debt.


PATRIOT COAL: Restructuring Predicated on Failed Price Assumptions
------------------------------------------------------------------
Daniel Moore at Pittsburgh Post-Gazette reports that Ray
Dombrowski, Esq., the attorney for Patriot Coal Corp., said that
the Company's restructuring "was predicated on assumptions about
coal prices that ultimately did not materialize."

Post-Gazette relates that the Company's second time in bankruptcy
could be the clearest signal yet that more stringent federal
environmental regulations and weakened demand for coal as
low-priced natural gas has stolen market share are palpable enough
to bring down even the most carefully structured Appalachian
producers.

                        About Patriot Coal

Patriot Coal Corporation is a producer and marketer of coal in the
United States.  Patriot and its subsidiaries control 1.4 billion
tons of proven and probable coal reserves -- including owned and
leased assets in the Central Appalachia basin (in West Virginia
and Ohio) and Southern Illinois basin (in Kentucky and Illinois)
– and their operations consist of eight active mining complexes
in West Virginia.

Patriot Coal first sought Chapter 11 protection on July 9, 2012,
and, on Dec. 18, 2013, won approval of its bankruptcy-exit plan
from the U.S. Bankruptcy Court for the Eastern District of
Missouri.  The plan turned over most of the ownership of the
company to bondholders that include New York hedge fund Knighthead
Capital Management LLC.  The linchpins of the plan were a global
settlement among the Debtors, the United Mine Workers of America,
and two third parties -- Peabody Energy Corporation and Arch Coal,
Inc. -- and a commitment by a consortium of creditors, led by
Knighthead, to backstop two rights offerings that funded the plan.

Patriot Coal Corporation and its subsidiaries commenced new
Chapter 11 cases (Bankr. E.D. Va. Lead Case No. 15-32450) in
Richmond, Virginia, on May 12, 2015.  The cases are assigned to
Judge Keith L. Phillips.

The Debtors tapped Kirkland & Ellis LLP as counsel; Kutak Rock
L.L.P., as co-counsel; Centerview Partners LLC as investment
bankers; Alvarez & Marsal North America, LLC, as restructuring
advisors; and Prime Clerk LLC, as claims and administrative agent.

The U.S. trustee overseeing the Chapter 11 case of Patriot Coal
Corp. appointed seven creditors of the company to serve on the
official committee of unsecured creditors.

Patriot Coal estimated more than $1 billion in assets and debt.


PATRIOT COAL: Taps Centerview Partners as Investment Banker
-----------------------------------------------------------
Patriot Coal Corporation, et al., ask the U.S. Bankruptcy Court for
the Eastern District of Virginia for permission to employ
Centerview Partners LLC as investment banker, effective as of May
12, 2015.

Centerview Partners will provide:

   a. general financial advisory and investment banking services;
   b. restructuring services;
   c. sale services:; and
   d. financing services.

The Debtors intend for Centerview's services to complement, and not
duplicate, the services to be rendered by any other professional
retained in the cases.

Marc D. Puntus, a partner at Centerview and the co-head of its Debt
Advisory and Restructuring Group, tells the Court that the Debtor
agreed to these fee structure, among other things:

   1. a monthly financial advisory fee of $ 175,000;

   2. a transaction fee contingent upon the consummation of such
restructuring or comprehensive sale and payable at the closing
thereof equal to $7,000,000;

   3. a partial sale transaction fee equal to 2.0% of aggregate
consideration, contingent upon the consummation of any such partial
sale and payable at the closing thereof; and

   4. a federal sale transaction fee equal to 2.0% of the aggregate
consideration.

Prior to the Petition Date, the Debtors paid Centerview an initial
retainer fee of $150,000 in November 2014 and an additional
retainer fee of $175,000 in April 2015.  In addition, the Debtors
paid $175,000 in Monthly Advisory Fees for the months of March,
April, and May and $41,003 as reimbursement for Centerview's
expenses billed through May 11, 2015, all pursuant to the terms of
the engagement letter.  As of the Petition Date, Centerview did not
hold a prepetition claim against the Debtors for fees or expenses
related to services rendered in connection with the engagement.

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

                        About Patriot Coal

Patriot Coal Corporation is a producer and marketer of coal in the
United States.  Patriot and its subsidiaries control 1.4 billion
tons of proven and probable coal reserves -- including owned and
leased assets in the Central Appalachia basin (in West Virginia and
Ohio) and Southern Illinois basin (in Kentucky and Illinois)
-- and their operations consist of eight active mining complexes
in West Virginia.

Patriot Coal first sought Chapter 11 protection on July 9, 2012,
and, on Dec. 18, 2013, won approval of its bankruptcy-exit plan
from the U.S. Bankruptcy Court for the Eastern District of
Missouri.  The plan turned over most of the ownership of the
company to bondholders that include New York hedge fund Knighthead
Capital Management LLC.  The linchpins of the plan were a global
settlement among the Debtors, the United Mine Workers of America,
and two third parties -- Peabody Energy Corporation and Arch Coal,
Inc. -- and a commitment by a consortium of creditors, led by
Knighthead, to backstop two rights offerings that funded the plan.

Patriot Coal Corporation and its subsidiaries commenced new Chapter
11 cases (Bankr. E.D. Va. Lead Case No. 15-32450) in Richmond,
Virginia, on May 12, 2015.  The cases are assigned to Judge Keith
L. Phillips.

The Debtors tapped Kirkland & Ellis LLP as counsel; Kutak Rock
L.L.P., as co-counsel; Centerview Partners LLC as investment
bankers; Alvarez & Marsal North America, LLC, as restructuring
advisors; and Prime Clerk LLC, as claims and administrative agent.

Patriot Coal estimated more than $1 billion in assets and debt.

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


PATRIOT COAL: Taps Kirkland & Ellis as Bankruptcy Counsel
---------------------------------------------------------
Patriot Coal Corporation, et al., ask the U.S. Bankruptcy Court for
the Eastern District of Virginia for permission to employ Kirkland
& Ellis LLP and Kirkland & Ellis International LLP as counsel, nunc
pro tunc to the Petition Date.

Stephen E. Hessler, partner at K&E, tells the Court that K&E's
hourly rates are:

         Billing Category                       U.S. Range
         ----------------                       ----------
         Partners                             $665 - $1,375
         Of Counsel                           $480 - $1,245
         Associates                           $480 -   $890
         Paraprofessionals                    $170 -   $380

In the 90 days prior to the Petition Date, the Debtors made classic
retainer payments to K&E totaling $3,250,000 in the aggregate.

Mr. Hessler assures the Court that K&E is a "disinterested person"
as that term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

         Stephen E. Hessler, Esq.
         Patrick Evans, Esq.
         KIRKLAND & ELLIS LLP
         601 Lexington Avenue
         New York, NY 10022
         Tel: (212) 446-4800
         Fax: (212) 446-4900

               - and -

         James H.M. Sprayregen, P.C.
         Ross M. Kwasteniet, Esq.
         KIRKLAND & ELLIS LLP
         300 North LaSalle
         Chicago, IL 60654
         Tel: (312) 862-2000
         Fax: (312) 862-2200

                        About Patriot Coal

Patriot Coal Corporation is a producer and marketer of coal in the
United States.  Patriot and its subsidiaries control 1.4 billion
tons of proven and probable coal reserves -- including owned and
leased assets in the Central Appalachia basin (in West Virginia
and
Ohio) and Southern Illinois basin (in Kentucky and Illinois)
–- and their operations consist of eight active mining
complexes
in West Virginia.

Patriot Coal first sought Chapter 11 protection on July 9, 2012,
and, on Dec. 18, 2013, won approval of its bankruptcy-exit plan
from the U.S. Bankruptcy Court for the Eastern District of
Missouri.  The plan turned over most of the ownership of the
company to bondholders that include New York hedge fund Knighthead
Capital Management LLC.  The linchpins of the plan were a global
settlement among the Debtors, the United Mine Workers of America,
and two third parties -- Peabody Energy Corporation and Arch Coal,
Inc. -- and a commitment by a consortium of creditors, led by
Knighthead, to backstop two rights offerings that funded the plan.

Patriot Coal Corporation and its subsidiaries commenced new
Chapter
11 cases (Bankr. E.D. Va. Lead Case No. 15-32450) in Richmond,
Virginia, on May 12, 2015.  The cases are assigned to Judge Keith
L. Phillips.

The Debtors tapped Kirkland & Ellis LLP as counsel; Kutak Rock
L.L.P., as co-counsel; Centerview Partners LLC as investment
bankers; Alvarez & Marsal North America, LLC, as restructuring
advisors; and Prime Clerk LLC, as claims and administrative agent.

Patriot Coal estimated more than $1 billion in assets and debt.

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


PEABODY ENERGY: Debt Trades at 11% Off
--------------------------------------
Participations in a syndicated loan under which Peabody Energy
Power Corp is a borrower traded in the secondary market at 89.39
cents-on-the- dollar during the week ended Friday, May 29, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in the June 2, 2015 edition of The Wall Street Journal.

This represents a decrease of 0.46 percentage points from the
previous week, The Journal relates. Peabody Energy Power Corp pays
325 basis points above LIBOR to borrow under the facility.

The bank loan matures on September 20, 2020, and carries Moody's
Ba3 rating and Standard & Poor's BB+ rating.

The loan is one of the biggest gainers and losers among 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



PHOTOMEDEX INC: To Issue Add'l 3.2 Million Shares Under Plans
-------------------------------------------------------------
PhotoMedex, Inc. filed a Form S-8 registration statement with the
Securities and Exchange Commission for the purpose of registering
an additional 3,000,000 shares of Common Stock reserved for
issuance under the 2005 Plan and an additional 250,000 shares of
common stock reserved for issuance under the 2000 Plan.

The additional 3,000,000 shares of Common Stock under the 2005 Plan
are additional securities of the same class as other securities for
which registration statements on Form S-8.  The additional 250,000
shares of Common Stock under the 2000 Plan are additional
securities of the same class as other securities for which
registration statements on Form S-8 were filed with the
Commission.

A copy of the prospectus is available for free at:

                        http://is.gd/YFXnWO

                         About PhotoMedex

PhotoMedex, Inc., is a global health products and services company
providing integrated disease management and aesthetic solutions to
dermatologists, professional aestheticians, ophthalmologists,
optometrists, consumers and patients.  The Company provides
proprietary products and services that address skin conditions
including psoriasis, vitiligo, acne, actinic keratosis, photo
damage and unwanted hair, as well as fixed-site laser vision
correction services at our LasikPlus(R) vision centers.

PhotoMedex and its subsidiaries has entered into a second
amended and restated forbearance agreement with the lenders that
are parties to the credit agreement dated May 12, 2014, and with JP
Morgan Chase, as administrative agent for the Lenders pursuant to
which the Lender have agreed to forbear from exercising their
rights and remedies with respect to certain events of default from
Aug. 25, 2014, until April 1, 2016, or earlier if an event of
default occurs, according to a document filed with the Securities
and Exchange Commission in March 2015.

As of March 31, 2015, the Company had $107 million in total assets,
$71.4 million in total liabilities, and $34.3 million in total
stockholders' equity.

                        Bankruptcy Warning

"If, in the future, PhotoMedex is required to obtain similar
forbearance agreements as a result of our inability to meet the
terms of the credit agreement, there can be no assurance that those
forbearance agreements will be available on commercially reasonable
terms or at all.  If, as or when required, we are unable to repay,
refinance or restructure our indebtedness under those credit
facilities, or amend the covenants contained therein, the lenders
could elect to terminate their commitments under the credit
facilities and institute foreclosure proceedings against our
assets.  Under such circumstances, we could be forced into
bankruptcy or liquidation.  In addition, any additional events of
default or declaration of acceleration under one of those
facilities or the forbearance agreement could also result in an
event of default under one or more of these agreements.  Such a
declaration would have a material adverse impact on our liquidity,
financial position and results of operations," the Company stated
in its 2014 annual report.


PLAYPOWER INC: Moody's Assigns 'B3' CFR, Outlook Stable
-------------------------------------------------------
Moody's Investors Service assigned a B3 Corporate Family Rating and
a B3-PD Probability of Default Rating to PlayPower, Inc.  Moody's
also assigned B2 ratings to the company's first lien revolving
credit facility expiring in 2020 and its first lien term loan
maturing in 2021, and a Caa2 rating to the company's second lien
term loan maturing in 2022. Proceeds from the credit facility will
be used to fund the acquisition of PlayPower by Littlejohn & Co.,
LLC. and repay existing debt. The rating outlook is stable.

Moody's assigned the following ratings to PlayPower, Inc.:

  -- Corporate Family Rating at B3

  -- Probability of Default Rating at B3-PD

  -- First lien revolving credit facility expiring in 2020 at
     B2 (LGD 3)

  -- First lien term loan maturing in 2021 at B2 (LGD 3)

  -- Second lien term loan maturing in 2022 at Caa2 (LGD 5)

The rating outlook is stable.

The B3 Corporate Family Rating reflects leverage that Moody's
considers high given the cyclicality of the industry. Moody's
projects debt-to-EBITDA will decline to 4.8x at year end 2016 from
a 5.4x pro forma level (at March 31, 2015) as the company utilizes
cash flow to reduce debt. A significant portion of the company's
sales are to local municipalities and school systems, and represent
a deferrable purchase in difficult fiscal times. The rating also
reflects the company's modest scale with revenue of $285 million in
the twelve months ended March 31, 2015. PowerPlay's size limits its
negotiating power with raw material suppliers and increases its
operating risk due to reliance on a couple of key manufacturing
facilities. The company is also exposed to event risks under
private equity ownership including debt-funded acquisitions and
shareholder distributions. These negative credit factors are
somewhat offset by the company's strong market position within each
of its product lines and its wide geographic presence within the
United States and Europe.

Moody's expects PlayPower to have good liquidity over the next
12-18 months with over $10 million in free cash flow, no near term
maturities, a $30 million revolving credit facility that Moody's
expect to remain largely undrawn, and sufficient headroom under the
total net leverage covenant.

The stable rating outlook reflects Moody's view that revenue and
earnings will continue to grow modestly over the next 12-18 months
as the economy supports customer demand and that PlayPower will
repay some of its debt through operating cash flow.

PlayPower's ratings could be downgraded if revenue or margins
materially decline, liquidity deteriorates, or Moody's comes to
expect an unsustainable capital structure. Key credit metrics that
could prompt a downgrade would be negative free cash flow or
EBITA/interest below 1.5 times for a sustained period.

PlayPower's ratings could be upgraded if the company is able to
materially increase its size while generating enough cash flow to
meaningfully reduce debt. The company would also have to maintain
good liquidity.

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

PlayPower, based in Huntersville, North Carolina, provides
recreational products of commercial playground equipment, park
amenities, shade structures and marine accessories. The company's
primary markets are the United States and Europe. The company
distributes its play systems under the Miracle, HAGS Play,
SoftPlay, and Little Tikes commercial product lines; its shade
products under Shade Structures, Sun Ports, and VPS; and
self-floating dock and lift system under the EZ Dock line.
PlayPower generated roughly $285 million of revenue for the twelve
months ended March 31, 2015.


PRIMERA ENERGY: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Primera Energy, LLC
        21022 Gathering Oak #2101
        San Antonio, TX 78260

Case No.: 15-51396

Chapter 11 Petition Date: June 3, 2015

Court: United States Bankruptcy Court
       Western District of Texas (San Antonio)

Judge: Hon. Craig A. Gargotta

Debtor's Counsel: Dean William Greer, Esq.
                  2929 Mossrock, Suite 117
                  San Antonio, TX 78230
                  Tel: 210-342-7100
                  Fax: 210-342-3633
                  Email: dwgreer@sbcglobal.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Brian K. Alfaro, owner.

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


PRINCIPAL SOLAR: Has $1.22-Mil. Net Loss in First Quarter
---------------------------------------------------------
Principal Solar, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $1.22 million on $184,000 of revenues for
the three months ended March 31, 2015, compared with a net loss of
$481,000 on $218,000 of revenue for the same period last year.  The
Company's balance sheet at March 31, 2015, showed $11.05 million in
total assets, $9.87 million in total liabilities, and stockholders'
equity of $1.18 million.  A copy of the Form 10-Q is available at
http://is.gd/knh0vs

Dallas, Texas-based, Principal Solar, Inc. (PSI), formerly Kupper
Parker Communications, Incorporated, is a renewable energy holding
company. The Company focuses its resources on the acquisition,
finance, development, and management of solar power companies to
utilize solar power.

Whitley Penn LLP expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company has
negative cash flows from operating activities, negative working
capital, and an accumulated deficit of $10.5 million as of December
31, 2014.

The Company reported a net loss of $3.33 million on $975,000 of
revenue for the year ended Dec. 31, 2014, compared with a net loss
of $2.35 million on $491,000 of revenues in the same period last
year.

The Company's balance sheet at Dec. 31, 2014, showed $8.09 million
in total assets, $7.79 million in total liabilities, and a
stockholders' equity of $301,200.



PROTOM INTERNATIONAL: Files Schedules of Assets and Liabilities
---------------------------------------------------------------
ProTom International Inc., filed with th U.S. Bankruptcy Court for
the Northern District of Texas its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property            $1,728,894
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $6,485,830
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $266,890
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                       $15,530,928
                                 -----------      -----------
        Total                     $1,728,894      $22,283,648

A copy of the schedules is available for free at:

          http://bankrupt.com/misc/ProTomInternational_52_SAL.pdf

                    About ProTom International

ProTom International Inc. is a medical technology focused on
proton
therapy for cancer patients.  The Company and affiliate ProTom
International, LLC, have the exclusive rights to sell in the U.S.
the compact accelerators developed by Russia-based ZAO Protom and
owner Vladimir E. Balakin.  The ZAO system and technology were
lighter and cheaper than proton therapy systems then in operation
in the U.S.  This technology has been the basis on which ProTom
has
developed its Radiance 330 Proton Therapy System.

ProTom International, Inc., and ProTom International, LLC, sought
Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No.
15-32065 and 15-32066) in Dallas on May 12, 2015.  The cases are
assigned to Judge Barbara J. Houser.

The Debtors tapped Jackson Walker, LLP as counsel, and Lain,
Faulkner & Co., P.C., as accountant.



RADIOSHACK CORP: Salus Seeks to Convert Ch. 11 Case to Ch. 7
------------------------------------------------------------
Kirk O'Neil, writing for The Deal, reported that prepetition lender
Salus Capital Partners LLC wants to convert the bankruptcy case of
RadioShack Corp. to Chapter 7 to preserve any remaining value of
the estate.

According to the report, Salus filed a motion in the U.S.
Bankruptcy Court for the District of Delaware in Wilmington to
convert the proceedings from Chapter 11, asserting the company no
longer has a viable business to reorganize.  Salus also said there
is no advantage to liquidating the debtor's remaining assets, which
primarily consist of potential litigation claims, in Chapter 11,
the report related.

                   About RadioShack Corporation

Headquartered in Fort Worth, Texas, RadioShack (NYSE: RSH) --
http://www.radioshackcorporation.com/-- is a retailer of mobile   
technology products and services, as well as products related to
personal and home technology and power supply needs. RadioShack's
retail network includes more than 4,300 company-operated stores in
the United States, 270 company-operated stores in Mexico, and
approximately 1,000 dealer and other outlets worldwide.

RadioShack Corporation and affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 15-10197) on Feb. 5, 2015. Judge
Kevin J. Carey presides over the case.

David G. Heiman, Esq., Greg M. Gordon, Esq., Amanda M. Suzuki,
Esq., Jonathan M. Fisher, Esq., Thomas A. Howley, Esq., and Paul M.
Green, Esq., at Jones Day serve as the Debtors' bankruptcy
counsel.

David M. Fournier, Esq., Evelyn J. Meltzer, Esq., and John H.
Schanne, II, Esq., at Pepper Hamilton LLP serve as co-counsel.
Carlin Adrianopoli at FTI Consulting, Inc., is the Debtors'
restructuring advisor. Maeva Group, LLC, is the Debtors' turnaround
advisor.  Lazard Freres & Co. LLC is the Debtors' investment
banker.  A&G Realty Partners is the Debtors' real estate advisor.
Prime Clerk is the Debtors' claims and noticing agent.

In their Petitions, the Debtors disclosed total assets of $1.2
billion, versus total debts of $1.3 billion.

Quinn Emanuel Urquhart & Sullivan, LLP and Cooley LLP represent the
Official Committee of Unsecured Creditors as co-counsel. Houlihan
Lokey Capital, Inc., serves as financial advisor and investment
banker.


RADIOSHACK CORP: Sweetgreen Wins Bidding for Boston Store Lease
---------------------------------------------------------------
RadioShack Corp. has selected as the winning bid an offer from
Sweetgreen Boston LLC to acquire the lease on one of its stores
located in Boston, Massachusetts.

Sweetgreen offered $100,000 for the store lease.  The RadioShack
store was identified in court papers as Store No. 1153.

The Boston store lease is one of the 32 leases identified in the
retailer's initial report for the third bidding round for
RadioShack leases.  The bidding process was approved on April 28 by
U.S. Bankruptcy Judge Brendan Shannon.

                   About RadioShack Corporation

Headquartered in Fort Worth, Texas, RadioShack (NYSE: RSH) --
http://www.radioshackcorporation.com/-- is a retailer of mobile
technology products and services, as well as products related to
personal and home technology and power supply needs. RadioShack's
retail network includes more than 4,300 company-operated stores in
the United States, 270 company-operated stores in Mexico, and
approximately 1,000 dealer and other outlets worldwide.

RadioShack Corporation and affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 15-10197) on Feb. 5, 2015. Judge
Kevin J. Carey presides over the case.

David G. Heiman, Esq., Greg M. Gordon, Esq., Amanda M. Suzuki,
Esq., Jonathan M. Fisher, Esq., Thomas A. Howley, Esq., and Paul M.
Green, Esq., at Jones Day serve as the Debtors' bankruptcy
counsel.

David M. Fournier, Esq., Evelyn J. Meltzer, Esq., and John H.
Schanne, II, Esq., at Pepper Hamilton LLP serve as co-counsel.
Carlin Adrianopoli at FTI Consulting, Inc., is the Debtors'
restructuring advisor. Maeva Group, LLC, is the Debtors' Turnaround
advisor.  Lazard Freres & Co. LLC is the Debtors' investment
banker.  A&G Realty Partners is the Debtors' real estate advisor.
Prime Clerk is the Debtors' claims and noticing agent.

In their Petitions, the Debtors disclosed total assets of $1.2
billion, versus total debts of $1.3 billion.

Quinn Emanuel Urquhart & Sullivan, LLP and Cooley LLP represent the
Official Committee of Unsecured Creditors as co-counsel.  Houlihan
Lokey Capital, Inc., serves as financial advisor and investment
banker.


RECOVERY CENTERS: Seeks to Sell 12th Ave. Property for $4.1-Mil.
----------------------------------------------------------------
Recovery Centers of King County asks permission from the U.S.
Bankruptcy Court for the Western District of Washington at Seattle
to sell real property located at 464 12th Avenue, in Seattle,
Washington, to Low Income Housing Institute for $4.1 million.

Jeffrey B. Wells, Esq., at Wells and Jarvis, P.S., in Seattle,
Washington, tells the Court that the proposed buyer is not an
insider of the Debtor or otherwise affiliated with the Debtor.

Mr. Wells asserts that the sale of the property for $4,100,000 is
reasonable and appropriate.  He says that the sale will result in a
significant payment toward the Bank of America loan in the
approximate amount owing of $4,737,000.  Mr. Wells adds that the
Debtor has two other real estate parcels.  The property located at
1701 18th Ave So, Seattle, WA, has been valued by the Debtor at
$3,857,000, while the s other property at 505 Washington Ave So,
Kent, WA, has been valued by the Debtor at $1,933,600.

Mr. Wells tells the Court that the Debtor has acted in good faith
in soliciting offers and negotiating an arms-length purchase and
sale agreement with a non-insider.  He adds that according to the
Debtor's realtor, Allan Friedman, this sale represents fair market
value for Debtor's real estate at 464 12th Avenue.

The Debtor is represented by:

          Jeffrey B. Wells, Esq.
          WELLS AND JARVIS, P.S.
          502 Logan Building
          500 Union Street
          Seattle, WA 98101-2332
          Telephone: 206-624-0088
          Facsimile: 206-624-0086
                
                   About Recovery Centers

Recovery Centers of King County -- http://www.rckc.org/--provides
Central Seattle and South King County residents with a continuum of
care for those who suffer with alcoholism or other drug
addiction.



RCKC filed a Chapter 11 case (Bankr. W.D. Wash. Case No.
15-13060)
in its hometown in Seattle, Washington on May 15, 2015.
The case
 is assigned to Judge Timothy W. Dore.



The Debtor tapped Jeffrey B Wells, Esq., at Wells and Jarvis,
P.S.,in Seattle, as counsel.



According to the docket, the appointment of a health care ombudsman

is due by June 15, 2015.


RED PRAIRIE: 2018 Debt Trades at 3% Off
---------------------------------------
Participations in a syndicated loan under which Red Prairie Corp is
a borrower traded in the secondary market at 97.27 cents-on-the-
dollar during the week ended Friday, May 29, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
the June 2, 2015 edition of The Wall Street Journal.

This represents a decrease of 0.25 percentage points from the
previous week, The Journal relates. Red Prairie Corp. pays 500
basis points above LIBOR to borrow under the facility.
  
The bank loan matures on December 21, 2018, and carries Moody's B2
rating and Standard & Poor's B- rating.  

The loan is one of the biggest gainers and losers among 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



REICHHOLD HOLDINGS: Needs Until Sept. 28 to File Liquidating Plan
-----------------------------------------------------------------
Reichhold Holdings US, Inc., et al., ask the U.S. Bankruptcy Court
for the District of Delaware to further extend their exclusive plan
filing period until Sept. 28, 2015, and their exclusive
solicitation period until Nov. 26, 2015.

According to the Debtors, the extension requested will provide them
and their advisors the opportunity to negotiate, confirm and
implement the terms of a Chapter 11 liquidating plan for the
distribution of assets to creditors.  The Debtors tell the Court
that they, with the assistance of their professionals, are viewing
and reconciling the numerous claims filed, which is an important
step towards formulating the plan and disclosure statement.

The Debtors are represented by Norman L. Pernick, Esq., Marion M.
Quirk, Esq., and David W. Giattino, Esq., at Cole Schotz P.C., in
Wilmington, Delaware, and Gerald H. Gline, Esq., and Felice R.
Yudkin, Esq., at Cole Schotz P.C., in Hackensack, New Jersey.

                          About Reichhold

Founded in 1927, Reichhold, with its world headquarters and
technology center in Durham, North Carolina, is one of the world's
largest manufacturer of unsaturated polyester resins and a leading
supplier of coating resins for the industrial, transportation,
building and construction, marine, consumer and graphic arts
markets.  Reichhold -- http://www.Reichhold.com/--  has    
manufacturing operations throughout North America, Latin America,
the Middle East, Europe and Asia.

As of June 30, 2014, the Reichhold companies had consolidated
assets of $538 million and liabilities of $631 million.

Reichhold Holdings US, Inc., Reichhold, Inc., and two U.S.
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 14-12237) on Sept. 30, 2014.

Cole, Schotz, Meisel, Forman & Leonard, P.A. (legal advisor) and
CDG Group LLC (financial advisor) are representing Reichhold, Inc.
Latham & Watkins LLP (legal advisor) and Moelis & Company
(investment banker) are serving Reichhold Industries, Inc.

Logan & Company is the company's claims and noticing agent.

The cases are assigned to Judge Mary F. Walrath.

The U.S. Trustee for Region 3 appointed seven creditors of
Reichhold Holdings US, Inc. to serve on the official committee of
unsecured creditors.

On April 2, 2015, Reichhold disclosed that the purchase of most of
the assets of the U.S. business was completed.  This transaction,
approved by the Delaware Bankruptcy Court on January 12, 2015,
allows Reichhold's U.S. businesses to successfully emerge from
bankruptcy and re-join the rest of the global Reichhold
organization.  Concurrent with this purchase, Reichhold completed a
debt-for-equity exchange with a group of investors led by Black
Diamond Capital Management LLC and including J.P. Morgan Investment
Management, Inc., Third Avenue Management LLC, and Simplon Partners
LP.  

On April 1, 2015, the U.S. Trustee named three non-union retirees
of Debtors to serve as the official Non-Union Retiree Committee.
Each of the Retiree Committee members is receiving retiree welfare
benefits from one or more of the Debtors.  The Retiree Committee
tapped the law firm of Stahl Cowen Crowley Addis LLC as its
counsel.


RESIDENTIAL CAPITAL: Objection to Panaszewicz Claim Sustained
-------------------------------------------------------------
Bankruptcy Judge Martin Glenn sustained the ResCap Liquidating
Trust's objection to Claim No. 7466 filed by Martha S. Panaszewicz
on June 11, 2014, nearly 5 months after the administrative claim
bar date.  The stated basis for the Claim was wrongful foreclosure,
damages, and attorney's fees.  The Trust argued that Panaszewicz's
Claim is barred as untimely.  Panaszewicz, however, alleged that
the Trust did not properly provide her with notice of the bar date.


In his May 11, 2015 memorandum opinion and order which is available
at http://is.gd/6JfaYlfrom Leagle.com, Judge Glenn found that
Panaszewicz's failure to receive notice of the bar date is
attributable to Errol J. Zshornack's failure to provide the debtors
or the court with notice of his changed address.

Norman S. Rosenbaum, Esq. -- nrosenbaum@mofo.com -- Jordan A.
Wishnew, Esq. -- jwishnew@mofo.com -- Meryl L. Rothchild, Esq. --
mrothchild@mofo.com -- MORRISON & FOERSTER LLP, New York, New York,
Attorneys for Liquidating Trust.

John B. Rosario, Esq., ROSALES DEL ROSARIO, P.C., Flushing, New
York, Attorney for Martha S. Panaszewicz.


RIVER CITY RENAISSANCE: Court Approves Settlement with CWCapital
----------------------------------------------------------------
River City Renaissance, LC, and River City Renaissance III, LC,
sought and obtained from Judge Keith L. Phillips of the U.S.
Bankruptcy Court for the Eastern District of Virginia, Richmond
Division, approval of a settlement agreement with CWCapital Asset
Management LLC and holders of Wachovia Bank Commercial Mortgage
Trust, Commercial Mortgage Pass-Through Certificates, Series
2005-C22, and Wachovia Bank Commercial Mortgage Trust, Commercial
Mortgage Pass-Through Certificates, Series 2006-C23

The principal terms of the settlement agreement are as follows:

   (1) At closing of the sale, proceeds in the amount of $37.1
million will paid to the Holders, who will be free to allocate the
funds in any manner they deem necessary;

   (2) After disbursement of funds, the remainder of Sale Proceeds,
net of real estate taxes, recording fees, and closing costs, and
any break-up fee, if applicable, of up to $30.825 million for RCR
and $6.525 million for RCR III will belong to the respective
Debtor's estate;

   (3) Sale proceeds, net of Closing Costs, and any break-up fee,
if applicable, in excess of $30.825 million and $6.525 million as
to RCR and RCR III, respectively, will be split 80% to the
respective Debtor’s estate and 20% to the respective Holder,
which 20% CWCapital may allocate as it deems necessary;

   (4) A global, mutual release of all claims between and among the
Holders, CWCapital, and the Debtors;

   (5) The Debtors will retain all funds held and maintained in
their respective debtor-in-possession bank accounts, which funds
will be property of their respective bankruptcy estates;

   (6) The Holders, by and through CWCapital, will use their best
efforts to support the sale process, including holding the Stay
Relief Motion in abeyance, and the Debtors will seek to withdraw
the Contempt Motion;

   (7) If the purchaser approved by the Court seeks additional time
to close after May 15, 2015, then the purchaser may obtain up to a
14-day extension to close provided that the purchaser pays the
daily per diem of interest and default interest; and

   (8) If and only if the Sale does not close on or before the
Closing Date, or the Extension Period, if applicable, through no
fault of CWCapital or the Holders, then the settlement will be null
and void.

The settlement is contingent upon the Properties' sale to a
third-party cash buyer for a gross price of no less than
$30,825,000 for the RCR Properties and $6,525,000 for the RCR III
Properties on or before May 15, 2015, or the Extension Period, if
applicable.

The Debtors' counsel, James K. Donaldson, Esq., at Spotts Fain PC,
in Richmond, Virgina, tells the Court that the Debtors have sought
to procure a sale or sales of their Properties after marketing and
advertising that fosters a competitive bidding environment.  Mr.
Donaldson notes that concern exists among bidders regarding the
intentions of the Holders and whether they intend to acquire the
Properties.  He says that in reaching the material provisions of
the Settlement Agreement with the Holders, the Debtors are
preserving the value for their respective estates, in lieu of
continued and future litigation, while also clearing the path for
the Properties to be sold to a disinterested, third-party cash
buyer, which will generate further value for the Debtors'
respective estates.  He further tells the Court that the Settlement
Agreement provides stability to the sale process and allows bidders
to participate with confidence, thus, increasing the likelihood of
competitive bidding and higher prices, which benefits the Debtors'
estates and creditors.

The Debtors are represented by:

          Robert H. Chappell, III, Esq.
          Timothy G. Moore, Esq.
          Jennifer J. West, Esq.
          James K. Donaldson, Esq.
          SPOTTS FAIN PC
          411 East Franklin Street, Suite 600
          Richmond, Virginia
          Telephone: (804)697-2000
          Facsimile: (804)697-2100
          Email: rchappell@spottsfain.com
                 tmoore@spottsfain.com
                 jwest@spottsfain.com
                 jdonaldson@spottsfain.com

                  About River City Renaissance

Richmond, Virginia-based, River City Renaissance, LC, and River

City Renaissance III, LC, sought Chapter 11 protection (Bankr.
E.D.Va. Case Nos. 14-34080 and 14-34081) in Richmond, Virginia, on
July 30, 2014.



The Debtors filed the chapter 11 cases in order to pursue an

orderly liquidation of their real property assets, which are

comprised of 29 residential apartment buildings in the City
of
 Richmond, in lieu of scheduled foreclosure sales.



The cases are assigned to Judge Keith L. Phillips. The Debtors

tapped Spotts Fain PC, as counsel.



River City Renaissance LC disclosed $27.3 million in assets
and
$29.2 million in liabilities as of the Chapter 11 filing.

Renaissance III estimated less than $10 million in assets
and
debts.



RIVER CITY RENAISSANCE: Stay Imposed Pending Dismissal Bid Hearing
------------------------------------------------------------------
River City Renaissance, LC, and River City Renaissance III, LC,
sought and obtained from Judge Keith L. Phillips of the U.S.
Bankruptcy Court for the Eastern District of Virginia, Richmond
Division, an order imposing the automatic stay pending the
conclusion of the final hearing U.S. Bank National Association's
motion to lift stay, or, in the alternative, dismiss the Chapter 11
cases.

U.S. Bank National Association, as trustee for the registered
holders of Wachovia Bank Commercial Mortgage Trust, Commercial
Mortgage Pass-Through Certificates, Series 2005-C22, and as trustee
for the registered holders of Wachovia Bank Commercial Mortgage
Trust, Commercial Mortgage Pass-Through Certificates, Series
2006-C23, asserts that there are more than sufficient bases upon
which the Court should grant the Holders relief from the automatic
stay under sections 362(d)(1) and (d)(2) of the Bankruptcy Code.
Moreover, the Holders believe that ample cause exists to dismiss
the Debtors' bankruptcy cases.

"The Holders are hard pressed to see any benefit to the sale
proposed with respect to the RCR Properties and, moreover, it is
plainly obvious that the Debtors' second effort to sell the
Properties will not yield enough to cover even the amounts that
have accrued during the period in which such second effort was
made.  But however the Debtors' current effort to sell th
Properties turns out, the Debtors' time for alternatives and second
or third chances has now passed," U.S. Bank's counsel, Robbin S.
Rahman, Esq., at Kilpatrick Townsend & Stockton LLP, in Atlanta,
Georgia.

The Debtors' counsel, Neil E. McCullagh, Esq., at Spotts Fain PC,
in Richmond, Virginia, says it is routine and appropriate for the
Court to continue the automatic stay in effect pending a final
hearing on a motion to lift the automatic stay so that the motion
can be decided on its merits.  Mr. McCullagh further says that the
Holders consent to the relief requested in this Motion To Continue
Stay, as evidenced by their endorsement of a consent Order granting
the same that the Debtors have tendered to the Court
contemporaneously with the filing of the motion.

The Holders and CWCapital Asset Management LLC are represented by:

        Robbin S. Rahman, Esq.
        KILPATRICK TOWNSEND & STOCKTON LLP
        1100 Peachtree Street, Suite 2800
        Atlanta, GA 30309
        Telephone: (404)815-6323
        Facsimile: (404)815-6555
        Email: rrahman@kilpatricktownsend.com
               
           -- and --

        Mark D. Taylor, Esq.
        VLP LAW GROUP LLP
        1629 K Street, NW, Suite 300
        Washington, DC 20006
        Telephone: (202)759-4890
        Facsimile: (202)759-4891
        Email: mtaylor@vlplawgroup.com

The Debtors are represented by:

          Robert H. Chappell, III, Esq.
          Neil E. McCullagh, Esq.
          James K. Donaldson, Esq.
          SPOTTS FAIN PC
          411 East Franklin Street, Suite 600
          Richmond, Virginia 23219
          Telephone: (804)697-2000
          Facsimile: (804)697-2100
          Email: rchappell@spottsfain.com
                 nmccullagh@spottsfain.com
                 jdonaldson@spottsfain.com

               About River City Renaissance

Richmond, Virginia-based, River City Renaissance, LC, and River

City Renaissance III, LC, sought Chapter 11 protection (Bankr.
E.D.Va. Case Nos. 14-34080 and 14-34081) in Richmond, Virginia, on
July 30, 2014. 



The Debtors filed the chapter 11 cases in order to pursue
an
orderly liquidation of their real property assets, which are

comprised of 29 residential apartment buildings in the City
of
 Richmond, in lieu of scheduled foreclosure sales.



The cases are assigned to Judge Keith L. Phillips. The Debtors

tapped Spotts Fain PC, as counsel.



River City Renaissance LC disclosed $27.3 million in assets and

$29.2 million in liabilities as of the Chapter 11 filing.

Renaissance III estimated less than $10 million in assets and

debts.




ROADMARK: Seeks Aug. 27 Extension to File Proposed Plan
-------------------------------------------------------
Roadmark Corporation asks the U.S. Bankruptcy Court for the Eastern
District of North Carolina, Raleigh Division, to extend its
exclusive periods to (i) file a disclosure statement and proposed
plan of reorganization to August 27, 2015, and (ii) obtain
confirmation of a plan to October 27, 2015.

John Paul H. Cournoyer, Esq., at Northen Blue, LLP, in Chapel Hill,
North Carolina, says the Debtor is currently entering its busiest
season, with business typically peaking around July or August.  He
adds that the Debtor has recently negotiated a postpetition
financing arrangement with DSCH Capital Partners, LLC, dba Far West
Capital, the lender holding a first-priority security interest in
the Debtor's inventory and receivables, and expects to file a
motion to approve this postpetition financing in the next few days.
Mr. Cournoyer relates in addition to the cash flow benefits of the
postpetition financing arrangement, this financing and the
cessation of contested cash collateral hearings will provide the
Debtor with stability, so that it expects it will be able to obtain
better pricing and/or credit terms from its vendors.

Mr. Cournoyer tells the Court that the Debtor will be better able
to provide adequate information for its disclosure statement and
formulate a feasible plan or reorganization after implementation of
the postpetition financing and operating through its busy season.
At that time, creditors would also be able to evaluate the proposed
plan and the likelihood of Debtor's successful reorganization, Mr.
Cournoyer adds.

The Debtor is represented by:

        John A. Northen, Esq.
        Vicki L. Parrott, Esq.
        John Paul H. Cournoyer, Esq.
        NORTHEN BLUE LLP
        Post Office Box 2208
        Chapel Hill, NC 27515-2208
        Telephone: (919)968-4441
        Email: jan@nbfirm.com
               vlp@nbfirm.com
               jpc@nbfirm.com
  
                  About Roadmark Corporation

Roadmark Corporation is a regional full-service highway paving

striper operating primarily in North Carolina, South Carolina,

Virginia and Maryland.



Roadmark filed a Chapter 11 bankruptcy petition (Bankr.
E.D.N.C.
Case No. 15-00432) in Raleigh, North Carolina, on Jan.
26, 2015. 
The case is assigned to Judge David M. Warren.



The Debtor disclosed $14.5 million in assets and $15.0 million
in
 liabilities in its schedules.



The Debtor tapped John Paul H. Cournoyer, Esq., and Vicki
L.
Parrott, Esq., at Northen Blue, LLP, in Chapel Hill, North

Carolina, as counsel. The Debtor also tapped Nelson & Company as

accountants and The Finley Group, Inc., as financial
consultant.



The U.S. Trustee appointed eight creditors to serve on the

official 
committee of unsecured creditors.




ROCKWELL MEDICAL: To Issue 2 Million Shares Under Incentive Plan
----------------------------------------------------------------
Rockwell Medical, Inc. filed a Form S-8 registration statement with
the Securities and Exchange Commission to register 2,000,000 shares
of its common stock issuable under the Amended and Restated 2007
Long Term Incentive Plan.  The proposed maximum aggregate offering
price is $21.5 million.  A full-text copy of the prospectus is
available for free at http://is.gd/KAh1KT

                          About Rockwell

Rockwell Medical, Inc. (Nasdaq: RMTI), headquartered in Wixom,
Michigan, is a fully-integrated biopharmaceutical company
targeting end-stage renal disease ("ESRD") and chronic kidney
disease ("CKD") with innovative products and services for the
treatment of iron deficiency, secondary hyperparathyroidism and
hemodialysis (also referred to as "HD" or "dialysis").

Rockwell's lead investigational drug is in late stage clinical
development for iron therapy treatment in CKD-HD patients.  It is
called Soluble Ferric Pyrophosphate ("SFP").  SFP delivers iron to
the bone marrow in a non-invasive, physiologic manner to
hemodialysis patients via dialysate during their regular dialysis
treatment.

Rockwell reported a net loss of $21.3 million in 2014, a net loss
of $48.8 million in 2013 and a net loss of $54.02 million in 2012.

As of March 31, 2015, the Company had $97.2 million in total
assets, $10.3 million in total liabilities, all current, $19.0
million in deferred license revenue, and $67.8 million in total
shareholders' equity.


ROCKWELL MEDICAL: To Offer $200 Million Common Shares
-----------------------------------------------------
Rockwell Medical, Inc. filed a Form S-3 registration statement with
the Securities and Exchange Commission relating to the offering of
its common stock having a proposed maximum aggregate offering price
of $200 million.

The Company may offer and sell these securities to or through one
or more underwriters, dealers and agents, or directly to
purchasers, on a continuous or delayed basis.

The Company's common stock is listed on the Nasdaq Global Market
and traded under the symbol "RMTI."  On May 21, 2015, the closing
sale price of the Company's common stock on Nasdaq was $10.31 per
share.

A full-text copy of the preliminary prospectus is available at:

                        http://is.gd/9vX3kS

                          About Rockwell

Rockwell Medical, Inc. (Nasdaq: RMTI), headquartered in Wixom,
Michigan, is a fully-integrated biopharmaceutical company
targeting end-stage renal disease ("ESRD") and chronic kidney
disease ("CKD") with innovative products and services for the
treatment of iron deficiency, secondary hyperparathyroidism and
hemodialysis (also referred to as "HD" or "dialysis").

Rockwell's lead investigational drug is in late stage clinical
development for iron therapy treatment in CKD-HD patients.  It is
called Soluble Ferric Pyrophosphate ("SFP").  SFP delivers iron to
the bone marrow in a non-invasive, physiologic manner to
hemodialysis patients via dialysate during their regular dialysis
treatment.

Rockwell reported a net loss of $21.3 million in 2014, a net loss
of $48.8 million in 2013 and a net loss of $54.02 million in 2012.

As of March 31, 2015, the Company had $97.2 million in total
assets, $10.3 million in total liabilities, all current, $19.0
million in deferred license revenue, and $67.8 million in total
shareholders' equity.


ROUNDY’S SUPERMARKET: Bank Debt Trades at 3% Off
--------------------------------------------------
Participations in a syndicated loan under which Roundy’s
Supermarket Inc. is a borrower traded in the secondary market at
96.85 cents-on-the- dollar during the week ended Friday, May 29,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in the June 2, 2015 edition of The Wall Street
Journal.  

This represents an increase of 0.14 percentage points from the
previous week, The Journal relates. Roundy’s Supermarket Inc.
pays 475 basis points above LIBOR to borrow under the facility.

The bank loan matures on February 17, 2021, and carries Moody's B2
rating and Standard & Poor's B rating.  

The loan is one of the biggest gainers and losers among 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.





SAAD INVESTMENTS: Seeks U.S. Recognition of Cayman Proceedings
--------------------------------------------------------------
The joint official liquidators of Saad Investments Company Limited
filed a Chapter 15 bankruptcy petition for SICL to seek recognition
of SICL's liquidation proceedings pending before the Grand Court of
the Cayman Islands, Financial Services Division.

The Joint Official Liquidators -- Hugh Dickson of Grant Thornton
Specialist Services (Cayman) Limited and Stephen Akers and Mark
Byers of Grant Thornton U.K. L.L.P -- are in the midst of a lengthy
and complex liquidation process based in the Cayman Islands for
which they are the sole persons authorized to act on SICL's behalf.
SICL's multibillion-dollar liquidation is international in scale
and has been in progress for almost six years.

The Cayman Island Proceeding involves over $9.7 billion in assets
and about $3.754 billion in liabilities, stemming from holdings and
obligations located in multiple jurisdictions in the Caribbean,
Europe, Australia, and Middle East.

Accordingly, in carrying out their duties, the JOLs have already
sought and received recognition of the Cayman Islands Proceeding as
a foreign main proceeding in multiple jurisdictions, including in
England and Australia, and brought various legal proceedings to
recover SICL's assets on behalf of creditors.  To date, they have
recovered over $450 million in assets.

The JOLs seek recognition of the Cayman Islands Proceeding to
efficiently administer SICL's assets and investigate SICL's affairs
in the United States.

                $9 Billion in Assets at its Peak

SICL, incorporated in the Cayman Islands, was formed by Maan
Al-Sanea of Saudi Arabia, to manage his non-Saudi Arabian assets,
including a portfolio consisting of equities, funds, interest
bearing securities, and real estate.  According to its internal
accounting records, SICL held about an estimated $9 billion in
assets and $4.5 billion in liabilities.  SICL's interests are
spread across the globe, including in the Caribbean, Australia,
Europe, and the Middle East.

Around May 28, 2009, the Saudi Arabian Monetary Authority ("SAMA")
froze Al-Sanea's assets.  The freeze was reported globally and
triggered the withdrawal by Moody's of the credit rating of SICL's
debt in early June 2009

Prior to the freeze, SICL entered into a Credit Facility Agreement
with a syndicate of banks.  The banks made available to SICL a
syndicated unsecured revolving credit facility in the amount of
US$2.815 billion (the "Credit Facility Agreement").  As a result of
the removal of SICL's credit rating, individual banks issued
default notices under the Credit Facility Agreement and other
bilateral agreements between those banks and SICL and began selling
collateral shortly after the SAMA asset freeze.

During this time, the Saad Group contemplated an out-of-court
restructuring with creditor agreement.  A director of the Saad
Group sent a letter to SICL's lenders notifying them of the
proposed restructuring to "resolve the funding problems with a
proper process."  In late June 2009, SICL sent a notice to its
lenders containing details of a meeting it proposed to be held in
early July informing creditors of its restructuring proposals.

The meeting never materialized.

Instead, on July 30, 2009, Barclays Bank PLC, CALYON, and The Royal
Bank of Scotland (the "Petitioning Creditors") -- each a lender
under the Credit Facility Agreement -- filed a petition for the
winding up of SICL.

Following the petition, on August 5, 2009, the Cayman Islands Grand
Court appointed Hugh Dickson of Grant Thornton Specialist Services
(Cayman) Limited and Stephen Akers and Mark Byers of Grant Thornton
U.K. L.L.P as Joint Provisional Liquidators of SICL.  On September
18, 2009, Messrs Dickson, Akers and Byers were appointed Joint
Official Liquidators of SICL.

                         Related Entities

One or more of the JOLs were also appointed as joint official
liquidators over various other entities within the Saad Group that
were connected to SICL:

                           Liquidation process       Date of
   Group company             and jurisdiction       Liquidation
   -------------             ----------------       -----------
Lombard Atlantic Bank N.V.     Voluntary           4 Sept. 2009
                               Liquidation,
                               Curacao

Singularis Holdings Limited    Court Supervised   18 Sept. 2009
                               Liquidation,
                               Cayman Islands

LA Investments Limited         Members' Voluntary 21 Sept. 2009
                               Liquidation, UK

Saad Inv. Finance Co. Ltd.     Court Supervised   26 Oct. 2009
                               Liquidation,
                               Cayman Islands
Saad Inv. Finance Co. (No. 2)  Court Supervised   26 Oct. 2009
                               Liquidation,
                               Cayman Islands

Saad Inv. Finance Co. (No. 3)  Court Supervised   26 Oct. 2009
                               Liquidation,
                               Cayman Islands

Saad Inv. Finance Co. (No. 8)  Court Supervised   26 Oct. 2009
                               Liquidation,
                               Cayman Islands

Saad Inv. Finance Co. (No. 9)  Court Supervised   26 Oct. 2009
                               Liquidation,
                               Cayman Islands

Saad Inv. Finance Co (No. 10)  Court Supervised   26 Oct. 2009
                               Liquidation,
                               Cayman Islands

Ringmore Limited               Summary Winding    25 Nov. 2009
                               up,
                               Jersey

Saad Cayman Limited            Court Supervised    4 Dec. 2009
                               Liquidation,
                               Cayman Islands
Saad Financial Advisory
Services Ltd.                  Official Liquid.   22 Feb. 2010
                               in Dubai
                               International
                               Financial Centre

There are multiple foreign proceedings related to the Cayman
Islands Proceeding that have already received recognition as
foreign main proceedings in U.S. court.  First is Saad Investments
Finance Company (No. 5) Limited, which is a wholly owned subsidiary
of SICL and also in official liquidation in the Cayman Islands.
Due to a conflict, Petitioners were not appointed as Joint Official
Liquidators of Saad Investments Finance Company (No. 5) Limited;
instead Mark Longbottom and Nicholas Paul Matthews of Kinetic
Partners were appointed as the entity's Joint Official Liquidators.
Saad Investments Finance Company (No. 5) Limited's Cayman Islands
insolvency proceeding was recognized as a foreign main proceeding
by order of the Bankruptcy Court for the District of Delaware, Case
No. 09-13985-KG, Docket No. 39,
December 4, 2009.

The second related proceeding is Awal Bank, BSC, which is a foreign
banking corporation incorporated in the Kingdom of Bahrain. SICL is
a 48% shareholder of Awal Bank.  On July 30, 2009, the Central Bank
of Bahrain placed Awal Bank into administration and appointed
Charles Russell, a British law firm with a Bahrain office, as
External Administrator. Awal Bank's Bahrain insolvency proceeding
was recognized as a foreign main proceeding by order of the
Bankruptcy Court for the Southern District of New York, Case No.
09-15923 (ALG), Docket No. 18, October 28, 2009. Subsequently, Awal
Bank filed a voluntary petition under chapter 11 of the Bankruptcy
Code also in the Bankruptcy Court for the Southern District of New
York, Case No. 10-15518 (ALG).

Finally, there is a third set of proceedings for seven of Awal
Bank's subsidiaries -- Awal Master Fund, Awal Finance Company
Limited, Awal Feeder 1 Fund Limited, Awal Finance Company (No. 2)
Limited, Awal Finance Company (No. 3) Limited, Awal Finance Company
(No. 4) Limited, and Awal Finance Company (No. 5) Limited
(collectively, the "Awal Subsidiaries").  Each of the Awal
Subsidiaries has liquidation proceedings in the Cayman Islands.
Chris Johnson, Russell Homer, Bruce Alexander MacKay, and Geoffrey
Lambert Carton-Kelly were appointed as the Joint Official
Liquidators of the Awal Subsidiaries.  The Awal Subsidiaries'
Cayman Islands proceedings were recognized by order of the
Bankruptcy Court for the Southern District of New York, Case No.
15-10652 (MEW), Docket No. 15, May 5, 2015.

                     About Saad Investments

Saad Investments Company Limited is the main holding company of a
group of Saad entities.  The Saad Group's Chairman and SICL's
beneficial owner is Maan Al-Sanea of Saudi Arabia.  According to
Forbes magazine, Al-Sanea's net worth was once $7 billion, ranking
him as the world's 62nd richest person. SICL's stated purpose was
to hold and manage Al-Sanea's non-Saudi Arabian assets, including a
portfolio consisting of equities, funds, interest bearing
securities, and real estate.

The joint official liquidators of SICL filed a Chapter 15 petition
(Bankr. S.D.N.Y. Case No. 15-11440) in Manhattan in the United
States on May 29, 2015, to seek recognition of SICL's winding up
proceedings in the Cayman Islands.  

The U.S. case is assigned to Judge James L. Garrity Jr.  Randall
Adam Swick, Esq., at Reid Collins & Tsai LLP, serves as counsel in
the U.S. case.


SEADRILL LTD: Bank Debt Trades at 18% Off
-----------------------------------------
Participations in a syndicated loan under which Seadrill Ltd. is a
borrower traded in the secondary market at 82.48 cents-on-the-
dollar during the week ended Friday, May 29, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
the June 2, 2015 edition of The Wall Street Journal.

This represents a decrease of 0.94 percentage points from the
previous week, The Journal relates. Seadrill Ltd. pays 300 basis
points above LIBOR to borrow under the facility.  

The bank loan matures on February 17, 2021, and carries Moody's Ba3
rating and Standard & Poor's BB- rating.
  
The loan is one of the biggest gainers and losers among 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



SEVENTY SEVEN ENERGY: Moody's Lowers CFR to 'B2', Outlook Negative
------------------------------------------------------------------
Moody's Investors Service downgraded Seventy Seven Energy Inc.'s
Corporate Family Rating to B2 from Ba3, its Probability of Default
Rating to B2-PD from Ba3-PD, its $500 million Notes due 2022 to
Caa1 from B2, while its SGL-2 Speculative Grade Liquidity rating
was unchanged. The debts of SSE's operating subsidiary,
Seventy-Seven Operating LLC were downgraded as follows: the $500
million term loan to Ba2 from Ba1 and its $650 million Notes due
2019 to B3 from Ba3. The rating outlook was changed to negative
from stable.

"The downgrade reflects weak credit metrics and sustained elevated
debt levels through 2016, stemming from the negative impact of low
oil prices on the demand for Seventy Seven Energy's drilling rig
and hydraulic fracturing services," said Terry Marshall, Moody's
Senior Vice President. "The company's cash flow will continue to be
challenged as drilling contracts begin to roll off through 2016 in
an oversupplied market leading to pricing pressure on rig day
rates."

Downgrades:

Issuer: Seventy Seven Energy Inc.

  -- Probability of Default Rating, Downgraded to B2-PD from
     Ba3-PD

  -- Corporate Family Rating, Downgraded to B2 from Ba3

  -- Senior Unsecured Regular Bond/Debenture, Downgraded to
     B3(LGD4) from Ba3(LGD4)

  -- Senior Unsecured Regular Bond/Debenture, Downgraded to
     Caa1(LGD5) from B2(LGD5)

Issuer: Seventy Seven Operating LLC

  -- Senior Secured Bank Credit Facility, Downgraded to Ba2(LGD2)
     from Ba1(LGD2)

Outlook Actions:

Issuer: Seventy Seven Energy Inc.

  -- Outlook, Changed To Negative From Stable

Issuer: Seventy Seven Operating LLC

  -- Outlook, Changed To Negative From Stable

Seventy-Seven Energy's B2 CFR reflects very high leverage, exposure
to the highly cyclical oil and natural gas land drilling and
hydraulic fracturing activities and limited track record as a
standalone entity competing for market share with non-Chesapeake
Energy Corporation (Ba1 positive) customers. The rating is
supported by its fleet of land drilling rigs and contracts and
pressure pumping contracts that provide a measure of revenue
visibility in 2015 and 2016. The company has a broad geographic
footprint in the onshore US and it has more service line
diversification than most single-B rated oilfield services and land
drilling peers.

SSE's SGL-2 rating is based on Moody's expectation that the company
will maintain good liquidity through mid-2016. At March 31, 2015
pro-forma for the incremental US$100 million add-onto its term loan
facility, which closed in May 2015, SSE has about $40 million in
cash and an undrawn $275 million borrowing base revolver, which
matures in April 2019. Cash on hand and drawings under the revolver
will be sufficient to fund the negative free cash flow of about $85
million through June 30, 2016. The revolver has no financial
covenants unless revolver utilization exceeds 90% of the committed
amount, at which time a minimum fixed charge coverage ratio of 1.0x
would be applicable. Based on limited expected utilization of the
revolver, the company has ample headroom for compliance. SSE's
assets are fully encumbered, limiting its ability to raise cash
through asset sales.

Seventy Seven Operating LLC (SSO) is an operating subsidiary of SSE
and is the obligor under the $275 million revolver (not rated),
$500 million term loan and $650 million senior notes due 2019. The
revolver is secured by a first lien on all of the company's
accounts receivable, inventory and other current assets as defined
in the agreement. The term loan is secured by a first lien on all
of the company's drilling rigs, oilfield services equipment and
other long-term tangible assets. The first priority position and
relative size of the term loan results in it being rated Ba2, or
three notches above the B2 CFR under Moody's Loss Given Default
Methodology.

The 2019 notes are unsecured obligations of SSO and guaranteed by
all of SSO's subsidiaries on a senior unsecured basis. SSE is a
holding company and its $500 million senior notes due 2022 are
unsecured with no subsidiary guarantees until the 2019 notes are
retired. Therefore the $500 million senior notes are structurally
subordinated to all debts at SSO, resulting in those notes being
rated Caa1, two notches beneath the B2 CFR. The 2019 notes are
subordinate to the senior secured claims of the term loan and
revolver, but ahead of the senior notes at SSE, resulting in the
2019 senior notes being rated B3, one notch below the CFR.

The rating outlook is negative reflecting the expectation that
credit metrics will remain weak over the next 12 to 18 months as a
result of an industry decline in US land drilling activity and
completions.

SSE's ratings could be downgraded if debt to EBITDA appears likely
to be sustained above 6x, if EBITDA to interest falls below 2x, or
if liquidity declines materially.

The ratings are not likely to be upgraded in 2015. However the
rating could be upgraded if debt to EBITDA appeared to be
sustainable below 4x while SEE successfully executes its planned
growth initiatives with third party customers.

Seventy Seven Energy Inc. (SSE, formerly known as Chesapeake
Oilfield Operating) is a publicly traded oilfield services company
that was spun-off from Chesapeake Energy Corporation (CHK, Ba1
positive) on June 30, 2014. SSE, through Seventy Seven Operating
LLC and its subsidiary companies owns and operates drilling rigs,
pressure pumping equipment and other oilfield services assets.

The principal methodology used in these ratings was Global Oilfield
Services Industry Rating Methodology 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.


SPECTRUM BRANDS: S&P Assigns 'BB' Rating on Secured Bank Facility
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB' issue-level
rating to U.S.-based Spectrum Brand Inc.'s (SPB) proposed
multi-currency senior secured bank credit facility, which consists
of a $500 million five-year revolving credit facility, a $1.45
billion seven-year term loan facility, a EUR300 million seven-year
term loan facility, and a C$75 million seven-year term loan
facility. The recovery rating on the proposed bank credit facility
is '1', indicating that lenders could expect very high (90% to
100%) recovery in the event of a payment default.  S&P expects SPB
to use the next proceeds to repay and cancel its existing
asset-based loan (ABL) revolver and term loan facilities, and
retire its
$300 million 6.75% notes due 2020.  S&P will withdraw its ratings
on these debt facilities following repayment.  Debt outstanding pro
forma for the proposed transaction is about $4.4 billion.

All of S&P's existing ratings on SPB, including its 'B+' corporate
credit rating, are unchanged.  The outlook is stable.  S&P's
ratings assume the transaction closes substantially on the terms
provided to S&P.

"Our ratings on SPB reflect its participation in highly competitive
low-growth product categories; its limited pricing power (in part
because of modest brand equity for certain of its products compared
with segment leaders whose products have better name recognition);
and its susceptibility to input cost and currency volatility,
seasonality, and the potential effects of weather on its home and
garden and auto care businesses.  We also recognize the appeal of
SPB's lower-priced product offerings to value-conscious
consumer--which we expect will continue to perform relatively well
in a weak growth environment--compared to higher-priced market
leading brands.  In addition, we expect SPB to strengthen credit
ratios over the next two years following its $1.4 billion
acquisition of Armored Auto Group, including improving leverage and
funds from operations (FFO) to debt slightly below 5x and above
13%, respectively.  However, we believe SPB's financial policy will
remain aggressive, in part because of HRG Group Inc.'s continued
majority ownership stake. This is a constraining factor to our
financial policy assessment, particularly with respect to HRG's
influence on SPB's appetite for debt-financed acquisitions," S&P
said.

RATINGS LIST

Spectrum Brands Inc.
Corporate Credit Rating                          B+/Stable/--

New Rating

Spectrum Brands Inc.
Senior Secured
  US$500 mil. 5-year revolving credit fac         BB
   Recovery Rating                                1
  US$1.45 bil. 7-year term loan fac               BB
   Recovery Rating                                1
  EUR300 mil. 7-year term loan fac                  BB
   Recovery Rating                                1
  C$75 mil. 7-year term loan facility             BB
   Recovery Rating                                1



SPENDSMART NETWORKS: 2015 Annual Meeting Set for August 11
----------------------------------------------------------
The Board of Directors of SpendSmart Networks, Inc. set the date
for the 2015 annual meeting of stockholders for Aug. 11, 2015.

Stockholder proposals intended to be presented in SpendSmart's
proxy materials relating to its 2015 annual meeting of stockholders
must be received by SpendSmart within a reasonable period of time
before SpendSmart begins to print and send its proxy materials,
which it anticipates will be on July 1, 2015.  Stockholder
proposals intended to be presented in SpendSmart's proxy materials
relating to its 2015 annual meeting of stockholders also must
satisfy the requirements of the proxy rules promulgated by the
Securities and Exchange Commission.  Any other stockholder
proposals to be presented at the 2015 annual meeting of
stockholders must be delivered in writing to SpendSmart's Secretary
at its principal executive offices on or before June 22, 2015.  The
proposal must contain specific information required by SpendSmart's
Bylaws.

In accordance with procedures set forth in SpendSmart's Bylaws,
stockholders may propose nominees for election to the Board of
Directors only after providing timely written notice to
SpendSmart's secretary.  To be timely, a stockholder's notice to
the secretary must be delivered in writing to SpendSmart's
Secretary at its principal executive offices on or before June 22,
2015.  The notice must contain specific information required by
SpendSmart's Bylaws.

                      About SpendSmart Networks

SpendSmart Networks, Inc., provides proprietary loyalty systems
and a suite of digital engagement and marketing services that help
local merchants build relationships with consumers and drive
revenues.  These services are implemented and supported by a vast
network of certified digital marketing specialists, aka "Certified
Masterminds," who drive revenue and consumer relationships for
merchants via loyalty programs, mobile marketing, mobile commerce
and financial tools, such as prepaid card and reward systems.  We
enter into licensing agreements for our proprietary loyalty
marketing solution with "Certified Masterminds" which sell and
support the technology in their respective markets.  The Company's
products aim to make Consumers' dollars go further when they spend
it with merchants in the SpendSmart network of merchants, as they
receive exclusive deals, earn rewards and ultimately build a
connection with their favorite merchants.

SpendSmart Networks incurred a net loss of $12.2 million on $4.03
million of total revenues for the year ended Dec. 31, 2014,
compared to a net loss of $14.09 million on $0 of total revenues
for the year ended Dec. 31, 2013.

As of March 31, 2015, the Company had $10.1 million in total
assets, $2.91 million in total liabilities, and $7.18 million in
total stockholders' equity.

EisnerAmper LLP, in Iselin, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has recurring net
losses since inception and has yet to establish a profitable
operation.  These factors among others raise substantial doubt
about the ability of the Company to continue as a going concern,
according to the regulatory filing.


SPINE PAIN: Reports $346K Net Loss in First Quarter
---------------------------------------------------
Spine Pain Management, Inc., filed its quarterly report on Form
10-Q, disclosing a net loss of $346,000 on $416,000 of revenue for
the three months ended March 31, 2015, compared with a net loss of
$480,000 on $335,000 of revenue for the same period in 2014.  The
Company's balance sheet at March 31, 2015, showed $5.99 million in
total assets, $1.78 million in total liabilities, and stockholders'
equity of $4.21 million.  A copy of the Form 10-Q is available at
http://is.gd/0m9RVi

                   About Spine Pain Management

Houston, Texas-based Spine Pain Management, Inc., is a medical
marketing, management, billing and collection company facilitating
diagnostic services for patients who have sustained spine injuries
resulting from traumatic accidents.

Ham, Langston & Brezina, LLP, expressed substantial doubt about the
Company's ability to continue as a going concern, citing that the
Company has an accumulated deficit of $15.3 million as of and for
the year ended Dec. 31, 2014.  Additionally, the Company is not
generating sufficient cash flows to meet its regular working
capital requirements.

The Company reported a net loss of $1.69 million on $2.05 million
of net revenue for the year ended Dec. 31, 2014, compared to a net
loss of $626,000 on $3.3 million of net revenue in 2013.

The Company's balance sheet at Dec. 31, 2014, showed $6.09 million
in total assets, $1.53 million in total liabilities and total
stockholders' equity of $4.56 million.



STATE FISH: Bankruptcy Court Sets Claims Bar Dates
--------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
established these bar dates in relation to the Chapter 11 cases of
State Fish Co., Inc. and Calpack Foods, LLC:

   General Bar Date:                July 7, 2015
   Governmental Bar Date:           July 27, 2015
   503(b)(9) Bar Date:              July 7, 2015
   Co-Debtor Bar Date:              Aug. 6, 2015
   501(c)Bar Date:                  Aug. 6, 2015

R. Todd Neilson as Chapter 11 trustee for the Debtors, asked the
Court to set the bar dates.

Any proof of claim or interest must be filed with the Clerk of
Court at the U.S. Bankruptcy Court, 255 E. Temple Street, Los
Angeles, California, by mail, in person, electronically, or by
personal service received by 4:00 p.m. Pacific Time on the
applicable bar date.  Proofs of claim or interest may not be filed
by facsimile or electronic mail.  Proofs of claim or interest that
previously were filed with the Clerk of the Court need not be
re-filed.

                         About State Fish

State Fish Co., Inc., was founded in 1932 and began as a small
local wholesale fish buyer in California.  Under the leadership of
Sam DeLuca, State Fish expanded from a small fresh fish company to
an internationally-known import and export company operating its
own processing and cold store facilities near the Port of Los
Angeles. Calpack Foods, LLC, a wholly owned subsidiary, was formed
in April 2012 to produce high quality food and beverage products.

State Fish and Calpack Foods filed voluntary Chapter 11 bankruptcy
petitions (C.D. Cal. Lead Case No. 15-11084) on Jan. 26, 2015, amid
a family dispute and liquidity woes brought by declining fish
catches.  Sisters Vanessa DeLuca, Roseann DeLuca and Janet
Esposito, backed the bankruptcy filing while John DeLuca has
opposed the Chapter 11 effort.

The Hon. Sandra R. Klein presides over the jointly administered
cases.  Amir Gamliel, Esq., and Alan D Smith, Esq., at Perkins Coie
LLP, serve as the Debtors' counsel.  George Blanco, at Avant
Advisory Group, acts as chief restructuring officer.

State Fish disclosed $34,868,772 in assets and $10,084,671 in
liabilities as of the bankruptcy filing.

The U.S. Trustee has appointed three entities -- Cedar Cold
Services LLC, Star-Box Inc., and Queen City Seafood Sales -- to
serve on the official committee of unsecured creditors.  The panel
has tapped Levene, Neale, Bender, Yoo & Brill LLP to serve as its
general counsel.

R. Todd Neilson has been appointed as Chapter 11 trustee effective
as of Feb. 27, 2015.



STOCKTON PUBLIC: S&P Raises Rating on 2006A Revenue Bonds to 'BB'
-----------------------------------------------------------------
Standard & Poor's Ratings Services raised its underlying rating
(SPUR) to 'BB' from 'B' on the Stockton Public Financing Authority,
Calif.'s series 2006A revenue bonds, issued on behalf of the
successor agency (SA) to the Stockton Redevelopment Agency (RDA).
The outlook is positive.

"The rating action reflects our view of strong growth in assessed
valuation among all three redevelopment project areas that support
the three loans that the agency uses to repay the bonds," said
Standard & Poor's credit analyst Chris Morgan.  "We calculate that
all are showing increased pledged revenues for fiscal 2015 and that
only one project area has pledged revenues that fall substantially
below 1x its respective maximum annual debt service requirement,"
added Mr. Morgan.  "The positive outlook reflects our estimate that
assessed value growth similar to that experienced in fiscal 2015
would enable all three project areas to generate sufficient
revenues to meet their respective maximum annual debt service
requirements."

The series 2006A bonds are secured by three separate loans to be
paid to the authority from tax increment revenue, net of a former
20% housing set-aside requirement, from three project areas: North,
Midtown Merged, and South Merged.  The agency is not required to
use shortfalls in one project area to address inadequate pledged
revenue in another.  As a result, the rating on the series 2006A
reflects S&P's view that the North and South Merged areas represent
the weakest components of the pooled structure.  Each loan
supporting the series 2006A bonds has a cash-funded reserve sized
to the least of maximum annual debt service, 1.25x average annual
debt service, or 10% of principal.



STRICKLAND AND DAVIS: 11th Cir. Affirms Dismissal of Appeals
------------------------------------------------------------
The United States Court of Appeals for the Eleventh Circuit
affirmed the district court's dismissal of notices of appeal filed
in the case captioned ROY W. DAVIS, VONCILE DAVIS, CINDY TAYLOR,
MELISSA TERRELL, Plaintiffs-Appellants, v. TAZEWELL T. SHEPARD,
III, (Trustee), Defendant-Appellee, NO. 14-13104, NON-ARGUMENT
CALENDAR (11th Cir.)

On May 1, 2012, the bankruptcy court issued an order affirming the
Final Report of Strickland and Davis International, Inc.'s Trustee,
Tazewell T. Shepard, III, and allowing him to recover compensation
for administering Strickland's bankruptcy estate.

On May 29, 2012, three sets of notice of appeal were filed: (1) the
Strickland Notices, filed on behalf of the company by Roy Davis,
Voncile Davis, Cindy Taylor, and Melissa Terrell; (2) the
Individual Capacity Notices filed by Roy Davis, Voncile Davis,
Cindy Taylor, and Melissa Terrell; and (3)to the extent the
district court considered it an amended notice filed in response to
the bankruptcy court's May 11, 2012 order, the Roy Davis Notice
filed by Roy Davis in his individual capacity.

The district court found appellants' notices of appeal to be
untimely and insufficient, and consequently dismissed them for lack
of jurisdiction.  Alternatively, the court also dismissed on the
ground of equitable mootness.

The 11th Circuit agreed with the district court in finding that the
Individual Capacity Notices were untimely as they were filed
outside the 14-day window imposed by the Federal Rule of Bankruptcy
Procedure 8002.

The appellate court also held that the district court correctly
dismissed the Strickland and Roy Davis appeals on the ground of
equitable mootness.  The appellants did not file a motion for a
stay pending appeal of the order approving the Trustee's Final
Report.  The Trustee completed his liquidation and distribution of
Strickland's estate.  The Trustee has conveyed to Samara Consultant
Group ("Samara") the mortgage on Roy and Voncile Davis's property,
and Samara has completed foreclosure proceedings.  At this point,
the court is powerless to grant relief.

A copy of the 11th Circuit's May 11, 2015 decision is available at
http://is.gd/yx8ZOZfrom Leagle.com.

          About Strickland and Davis International, Inc.

Strickland and Davis International, Inc. filed a Chapter 7
bankruptcy petition in January 2008.

In April 1996, Strickland entered into a joint venture with Samara
Consultant Group to pursue grain sales in the Republic of Yemen,
with the parties agreeing to split evenly any profits resulting
from their business endeavors. At some point thereafter, Strickland
contracted with the Republic of Yemen for the delivery of grain,
which contract the Republic subsequently breached.


SUNGUARD AVAILABILTY: Debt Trades at 6% Off
-------------------------------------------
Participations in a syndicated loan under which SunGuard
Availability is a borrower traded in the secondary market at 93.85
cents-on-the- dollar during the week ended Friday, May 29, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in the June 2, 2015 edition of The Wall Street Journal.
  
This represents a decrease of 0.32 percentage points from the
previous week, The Journal relates. SunGuard Availability pays 400
basis points above LIBOR to borrow under the facility.
  
The bank loan matures on March 27, 2019, and carries Moody's Ba3
rating and Standard & Poor's B+ rating.  

The loan is one of the biggest gainers and losers among 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



SUPER BUY FURNITURE: Seeks Issuance of Final Decree
---------------------------------------------------
Super Buy Furniture, Inc., asks the United States Bankruptcy Court
for the District of Puerto Rico to issue a final decree.

Charles A. Cuprill-Hernandez, Esq., at Charles A. Cuprill, P.S.C.
Law Offices, in San Juan, Puerto Rico, says the Debtor's
Liquidation Plan has been substantially consummated and
accordingly, the Court can issue a final decree if no opposition to
the application is filed.

The Debtor is represented by:

        Charles A. Cuprill-Hernandez, Esq.
        CHARLES A. CUPRILL, P.S.C. LAW OFFICES
        356 Fortaleza Street, Second Floor
        San Juan, PR 00901
        Telephone: 787-997-0515
        Facsimile: 787-977-0518
        Email: ccuprill@cuprill.com
  
                        About Super Buy

Cidra, Puerto Rico-based Super Buy Furniture, Inc., operator of

furniture stores throughout Puerto Rico under the business name
of
 "Casa Pitusa Muebles y Enseres", filed a Chapter 11
bankruptcy
 petition (Bankr. D.P.R. Case No. 14-05523) in Old San
Juan, Puerto
 Rico, on July 3, 2014.



The Company disclosed $18.2 million in assets and $26.8 million
in
debt in its original schedules.



The Company has tapped the firm O'Neill & Borges, in San Juan,

Puerto Rico, as counsel, and CPA Luis R. Carrasquillo & Co.,

P.S.C., as financial consultant.



The Debtor, the Official Committee of General Unsecured Creditors,

Empresas Berrios, Inc., and Rent Express by Berrios, Inc.,

submitted a Joint Plan of Reorganization and explanatory Disclosure
Statement dated Dec. 23, 2014.



The Plan contemplates the orderly liquidation of Super Buy's

assets through their sale in an organized manner overseen by

Debtor and the Committee. It is estimated that the liquidation

will take from six to nine months, as of Dec. 1, 2014. Discounts

for the sale of Debtor's assets will be agreed to by the
Parties
 and will depend on the demand by customers.



The U.S. Trustee for Region 21 appointed seven creditors to
serve
 in the official committee of unsecured creditors in the
case. 
Javier Vilarino and Ferraiuoli, LLC, serves as legal
counsel to the
 Creditors Committee.



TALLGRASS DEVELOPMENT: S&P Affirms Then Withdraws 'BB-' CCR
-----------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB-'
long-term corporate credit rating on Tallgrass Development L.P., a
midstream energy provider located in Leawood, Kan.  S&P
subsequently withdrew the corporate credit rating.  S&P also
withdrew the 'BB+' senior secured debt rating and '1' recovery
rating.  S&P is withdrawing the ratings following Tallgrass' recent
full repayment of its senior secured debt.  The rating outlook at
the time of the withdrawal was stable.


TENET HEALTHCARE: S&P Retains 'B' CCR After Term Note Add-On
------------------------------------------------------------
Standard & Poor's Ratings Services said that all ratings on Tenet
Healthcare Corp., including the 'B' corporate credit rating, are
unchanged following the company's announcement that it increased
the new senior secured notes by $400 million to $900 million.  The
'BB-' issue-level rating on Tenet Healthcare Corp.'s secured debt
remains unchanged.  The recovery rating remains '1,' indicating
S&P's expectation of very high (90% to 100%) recovery in the event
of a payment default.  In addition, the 'CCC+' issue-level rating
on the company's unsecured debt is unchanged.  The recovery rating
on this debt remains '6,' indicating S&P's expectation of
negligible (0% to 10%) recovery in the event of a payment default.

The company will use proceeds of the new secured notes and its new
$1.9 billion senior unsecured notes to complete the acquisition of
United Surgical Partners International Inc. (USPI) and Aspen
Healthcare Ltd., as well as pay down the revolver.

RATINGS LIST

Tenet Healthcare Corp.
Corporate Credit Rating                 B/Stable/--        

Tenet Healthcare Corp.
Senior Secured                         BB-                
   Recovery Rating                      1
Senior Unsecured                       CCC+               
   Recovery Rating                      6



TENET HEALTHCARE: To Sell $500 Million Senior Secured Notes
-----------------------------------------------------------
Tenet Healthcare Corporation is offering to sell $500 million
aggregate principal amount of newly issued senior secured notes
through a private placement.  In addition, THC Escrow Corporation
II, a Delaware corporation established to issue the THC unsecured
notes, is offering to sell $1.9 billion aggregate principal amount
of senior unsecured notes through a private placement.

The Tenet secured notes will be guaranteed by certain of its
subsidiaries and secured by a pledge of the capital stock and other
ownership interests of certain of Tenet's subsidiaries.  The net
proceeds of the Tenet secured notes will be used to repay the $400
million aggregate principal amount of term loans outstanding under
its Interim Loan Agreement, dated March 23, 2015, and for general
corporate purposes, which may include payment of a portion of the
cash consideration in respect of the purchase of the Company's
equity interests in its joint venture with United Surgical Partners
International.  The gross proceeds of the THC unsecured notes will
be used in part (i) to pay the cash consideration in respect of the
Purchasers, (ii) to pay the cash consideration in respect of our
previously announced acquisition of 100% of the issued A shares, B1
shares and B2 shares of European Surgical Partners Ltd, (iii) for
the refinancing of indebtedness of USPI, and (iv) to pay related
transaction fees and expenses.

The notes being offered have not been registered under the
Securities Act of 1933, as amended, or any state securities laws.
As a result, they may not be offered or sold in the United States
or to any U.S. persons, except pursuant to an applicable exemption
from, or in a transaction not subject to, the registration
requirements of the Securities Act.  Accordingly, the notes are
being offered only to "qualified institutional buyers" under Rule
144A of the Securities Act or, outside the United States, to
persons other than "U.S. persons" in compliance with Regulation S
under the Securities Act.  A confidential offering memorandum for
the notes, dated today, will be made available to such eligible
persons.  The offering is being conducted in accordance with the
terms and subject to the conditions set forth in the offering
memorandum.

                            About Tenet

Tenet Healthcare Corporation -- http://www.tenethealth.com/-- is a
national, diversified healthcare services company with 110,000
employees united around a common mission: to help people live
happier, healthier lives.  The company operates 80 hospitals, 214
outpatient centers, six health plans and Conifer Health Solutions,
a leading provider of healthcare business process services in the
areas of revenue cycle management, value based care and patient
communications.

Tenet Healthcare reported net income attributable to the Company's
shareholders of $12 million for the year ended Dec. 31, 2014,
compared to a net loss attributable to the Company's shareholders
of $134 million during the prior year.

As of March 31, 2015, the Company had $18.42 billion in total
assets, $17.2 billion in total liabilities, $208 million in
redeemable noncontrolling interests in equity of consolidated
subsidiaries and $972 million in total equity.

                         *    *    *

Tenet carries a 'B' IDR from Fitch Ratings, 'B' corporate credit
rating from Standard & Poor's Ratings Services and 'B1' Corporate
Family Rating from Moody's Investors Service.


TRANSFIRST INC: Moody's Affirms 'B3' Corp. Family Rating
--------------------------------------------------------
Moody's Investors Service affirmed TransFirst, Inc.'s B3 Corporate
Family Rating, B3-PD Probability of Default Rating, and the B2 and
Caa2 ratings for the company's first and second lien credit
facilities, respectively. The company plans to raise $65 million of
incremental first and second lien term loans and use the proceeds,
along with cash on hand, to pay a distribution to its parent which
will be used to repay a $132 million shareholder-level loan.

Pro forma for the recapitalization, TransFirst's total debt to LTM
1Q 2015 adjusted EBITDA, including a full year of estimated
processing volumes under the American Express Opt Blue program,
will increase to 7.9x, from 7x. However, the company continues to
generate strong net revenue and EBITDA growth. The affirmation of
TransFirst's ratings reflects the company's strong operating
performance and Moody's expectation that total debt to EBITDA
should decline to 7x by year-end 2016, about 0.5x higher than
previously expected.

The B3 CFR primarily reflects TransFirst's elevated leverage and
its aggressive financial policies under financial sponsors. The
planned dividend recapitalization more than offsets the
deleveraging from EBITDA growth and follows TransFirst's leveraged
buyout by Vista Equity Partners in November 2014. Although Moody's
expects TransFirst's EBITDA (pro forma for the volumes under Opt
Blue program) to grow by 6% to 7%, the ratings agency believes that
debt-financed returns to shareholders and opportunistic
acquisitions will likely cause leverage to remain near 7x. The
rating additionally incorporates TransFirst's high business risks
from its small operating scale, both relative to its competitors
and similarly rated services companies, and the highly competitive
merchant acquiring services industry.

The rating is supported by TransFirst's track record of solid net
revenue and EBITDA growth driven by the addition of new merchant
accounts, low volume attrition rates, and high operating leverage
through its scalable transaction processing platform. The company
generates a high proportion of transaction-based, recurring net
revenues that provide revenue stability. Moody's expects TransFirst
to generate free cash flow (after potential merchant portfolio
acquisitions) of about 5% of total debt over the next 12 months.

Moody's could upgrade TransFirst's ratings if the company maintains
good earnings growth and generates free cash flow in the high
single digit percentages of total debt, and if Moody's believes
that total debt-to-EBITDA could be sustained below 6.5x.
Conversely, the ratings could be downgraded if Moody's believes
that slowing revenue growth, erosion in EBITDA margins or
aggressive financial policies will cause total leverage to be
sustained above 7.5x (Moody's adjusted), or liquidity materially
deteriorates.

Issuer: TransFirst, Inc

  -- Corporate Family Rating -- B3

  -- Probability of Default Rating -- B3-PD

  -- $50 million Senior Secured 1st lien Revolving Credit
     Facility, due 2019 -- B2 (LGD3)

  -- $763 million outstanding (upsized from $698 million
     outstanding) Senior Secured 1st Lien Term Loan, due 2021 –
     B2 (LGD3)

  -- $385 million (upsized from $320 million) Senior Secured 2nd
     Lien Term Loan, due 2022 -- Caa2 (LGD5)

  -- Outlook -- Stable

TransFirst, Inc. is a merchant acquirer and provides payment
processing services to small and medium size businesses in the
U.S.

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.


TRAVELBRANDS INC: Ontario Court Names KPMG as Monitor
-----------------------------------------------------
The Ontario Superior Court of Justice appointed KPMG Inc. as
monitor for TravelBrands Inc., in the company's proceedings under
the Companies' Creditors Arrangement Act pursuant to an order dated
May 27, 2015.  The firm can be reached at:

   KPMG Inc.
   Attn: Marcel Rethore
   333 Bay Street, Suite 4600
   Toronto, ON M5H 2S5
   Tel: (416) 777 3775
   Email: mrethore@kmpg.ca

TravelBrands Inc. -- http://www.travelbrands.com/-- provides
travel agency services.  The Company offers vacation packages to
Mexico, the Caribbean, Costa Rica, the United States, and other
countries.


US CENTRIFUGE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: US Centrifuge Systems, LLC
        1428 West Henry Street, Suite C
        Indianapolis, IN 46221

Case No.: 15-04804

Chapter 11 Petition Date: June 3, 2015

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

Judge: Hon. Jeffrey J. Graham

Debtor's Counsel: James A. Knauer, Esq.
                  KROGER GARDIS & REGAS, LLP
                  111 Monument Circle, Suite 900
                  Indianapolis, IN 46204-5125
                  Tel: 317-692-9000
                  Fax: 317-264-6832
                  Email: jak@kgrlaw.com

                    - and -

                  Harley K Means, Esq.
                  KROGER GARDIS & REGAS, LLP
                  111 Monument Circle, Suite 900
                  Indianapolis, IN 46204-5125
                  Tel: 317-777-7439
                  Fax: 317-777-7439
                  Email: hkm@kgrlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Steven Wallace, plant manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/insb15-04804.pdf


VALLEJO, CA: S&P Hikes Rating on 1999 COPs From 'BB-'
-----------------------------------------------------
Standard & Poor's Ratings Services raised its underlying rating
(SPUR) to 'BBB-' from 'BB-' on Vallejo, Calif.'s series 1999
certificates of participation (COPs).  The outlook is stable.

"The raised rating reflects our view of a rebound in the local
economy, which has resulted in improved revenue performance and
adequate budgetary flexibility," said Standard & Poor's credit
analyst Misty Newland.  "However, the rating remains constrained by
our view of the ongoing challenges to maintaining a structurally
balanced budget."

The COP rating also reflects S&P's assessment of these factors for
the city:

   -- Adequate economy,
   -- Weak management,
   -- Weak budgetary performance,
   -- Adequate budgetary flexibility,
   -- Strong liquidity, and
   -- Adequate debt and contingent liability position.



VANTAGE DRILLING: Bank Debt Trades at 17% Off
---------------------------------------------
Participations in a syndicated loan under which Vantage Drilling
Co. is a borrower traded in the secondary market at 82.85
cents-on-the- dollar during the week ended Friday, May 29, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in the June 2, 2015 edition of The Wall Street Journal.
  
This represents an increase of 0.35 percentage points from the
previous week, The Journal relates. Vantage Drilling Co. pays 400
basis points above LIBOR to borrow under the facility.  

The bank loan matures on October 25, 2017, and carries Moody's B3
rating and Standard & Poor's B- rating.  
The loan is one of the biggest gainers and losers among 274 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



VICTORY ENERGY: Hires MLV & Co. as Financial Advisor
----------------------------------------------------
Victory Energy Corporation has engaged MLV & Co. LLC, an
independent full-service investment bank, to act as its financial
advisor with respect to the placement of the Company's proposed new
$75 million credit facility, with initial availability based on
agreed acquisitions.

"We are excited to be working with MLV because they are a
recognized leader in the energy advisory and financing businesses.
Since 2010, MLV has helped raise over $25.5 billion for companies,
including approximately $10.7 billion for energy companies.  We
believe their historical transaction track record, their extensive
network of financial industry relationships and the variety of debt
and equity offerings they have been involved in, all align well
with our growth plans in the rapidly changing E&P industry," said
Kenny Hill, Victory Energy's CEO.  "We believe this new credit
facility will support our rapid growth business strategy and its
current focus on the acquisition of proved-producing properties.
We also consider this relationship a significant step toward
accelerating our plans to up-list to a major market exchange."

                       About Victory Energy

Austin, Texas-based Victory Energy Corporation is engaged in the
exploration, acquisition, development and exploitation of domestic
oil and gas properties.  Current operations are primarily located
onshore in Texas, New Mexico and Oklahoma.

Victory Energy reported a net loss of $4.22 million in 2014
following a net loss of $2.11 million in 2013.  As of Dec. 31,
2014, the Company had $1.2 million in total assets, $2.67 million
in total liabilities and a $1.46 million total stockholders'
deficit.

Weaver and Tidwell, L.L.P., in Houston, Texas, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has
experienced recurring losses since its inception and has an
accumulated deficit, which raise substantial doubt regarding the
Company's ability to continue as a going concern.


WASHINGTON MUTUAL: JPMorgan Wins Legal Battle
---------------------------------------------
Emily Glazer and Patrick Fitzgerald, writing for The Wall Street
Journal, reported that J.P. Morgan Chase & Co. won a legal battle
in its effort to avoid billions of dollars in potential liabilities
from its purchase of Washington Mutual Inc.'s banking operations
during the financial crisis.

According to the report, a U.S. District Court judge in Washington
ruled that the Federal Deposit Insurance Corp. must shoulder
certain legal claims stemming from decisions that Washington Mutual
made before J.P. Morgan bought the business in 2008 at the behest
of regulators.  To recall, J.P. Morgan and the FDIC have fought for
years over who is ultimately liable for claims that arose from the
failed Seattle thrift.

The Journal said that U.S. District Judge Rosemary M. Collyer's
decision, though, does make it more likely that the bank won't
ultimately be forced to pay on some other WaMu-related claims, a
prospect that could come as a relief to the bank, which has paid
out more than $26 billion in recent years related to various
crisis-related legal suits and fines.

                    About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- was the holding company for Washington   
Mutual Bank as well as numerous non-bank subsidiaries.

Washington Mutual Bank was taken over on Sept. 25, 2008, by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  WaMu owns
100% of the equity in WMI Investment.


WELLESLEY REALTY: Suit Against Massachusetts Town Dismissed
-----------------------------------------------------------
Bankruptcy Judge Joan N. Feeney dismissed for lack of jurisdiction
the adversary proceeding in the case captioned WELLESLEY REALTY
ASSOCIATES, LLC, Plaintiff, v. TOWN OF WELLESLEY, MASSACHUSETTS,
Defendant, ADV. P. NO. 14-1159 (D. Mass.).

On August 6, 2014, the debtor filed an adversary proceeding against
the Town of Wellesley to repossess from the Town certain funds
related to the Debtor's housing project.

In her May 11, 2015 memorandum which is available at
http://is.gd/i2YjLEfrom Leagle.com, Judge Feeney concluded that
the court lacks jurisdiction with respect to the said adversary
proceeding, as the recovery of funds will have no effect on the
bankruptcy estate or distributions to creditors.  Property of the
estate vested in the debtor and all claims were settled or paid in
full at the effective date of the debtor's Plan of Reorganization,
which was October 19, 2014.

In the alternative, even if the court were to find that it has
jurisdiction because the adversary proceeding was commenced before
confirmation of the Third Amended Plan of Reorganization, the court
shall voluntarily abstain from determining the merits of the said
adversary proceeding.

              About Wellesley Realty Associates, LLC

Wellesley Realty Associates, LLC filed a Chapter 11 petition
(Bankr. D. Mass. Case No. 12-16889) on August 20, 2012.  Judge
Henry J. Boroff presided over the case.  John M. McAuliffe, Esq.,
at McAuliffe & Associates, P.C., served as counsel to the Debtor.
In its petition, the Debtor estimated $1 million to $10 million in
both assets and debts.  The petition was signed by Dean Behrend,
manager.   It obtained confirmation of its Third Amended Plan of
Reorganization on August 20, 2014.


WESTMORELAND COAL: Signs Contribution Agreement with WMLP
---------------------------------------------------------
Westmoreland Coal Company and Westmoreland Resource Partners, LP,
entered into a contribution agreement on June 1, 2015, pursuant to
which WCC would make a contribution to WMLP of all of the
outstanding equity interests in Westmoreland Kemmerer, LLC, a
Delaware limited liability company (formerly Westmoreland Kemmerer,
Inc.  Upon closing the Contribution, WMLP would own 100% of the
outstanding equity interests in Kemmerer, which owns and operates
the Kemmerer Mine in Lincoln County, Wyoming.

The aggregate consideration for the Contribution will be
approximately $230 million, to be paid in a combination of $135
million in cash, $20 million in common units and $75 million in a
newly established Series A Convertible Units in WMLP.  WCC expects
to close the Contribution in the third quarter of 2015.  The
Contribution is subject to customary representations, warranties
and covenants by each of the parties thereto.  The parties have
also agreed to operate their businesses in the ordinary course
until the Contribution is consummated.  The closing of the
Contribution is conditioned on, among other things, the receipt by
WMLP of at least $65 million in net proceeds from an offering of
WMLP's common units.  There can be no assurance that the
Contribution will be completed within the anticipated timeframe, or
at all, or that the anticipated benefits will be realized.

In connection with the entry into the Contribution Agreement and
the issuance of the Series A Convertible Units, WMLP agreed to
enter into an amendment to its Fourth Amended and Restated
Agreement of Limited Partnership.  The Amendment will establish the
terms of the Series A Convertible Units and any additional Series A
Convertible Units that may be issued in kind as a distribution, and
provides that each Series A Convertible Unit will have the right to
share in distributions from WMLP on a pro rata basis with the
common units.  All or any portion of each distribution payable in
respect of the Series A Convertible Units may, at WMLP's election,
be paid in Series A PIK Units.  When issued, the Series A
Convertible Units and the Series A PIK Units will convert into
common units at the earlier of (i) the first anniversary of the
initial issuance of the Series A Convertible Units pursuant to the
Contribution Agreement, (ii) the date on which WMLP first makes a
regular quarterly cash distribution with respect to any quarter to
holders of common units in an amount equal to at least $0.22 per
common unit, or (iii) upon a change of control.  The Series A
Convertible Units will have the same voting rights as if they were
outstanding common units of WMLP and will vote together with the
WMLP common units as a single class.  In addition, the Series A
Convertible Units will be entitled to vote as a separate class on
any matters that materially adversely affect the rights or
preferences of the Series A Convertible Units in relation to other
classes of partnership interests or as required by law.

A copy of the Contribution Agreement is available for free at:

                        http://is.gd/TILx0Q

                      About Westmoreland Coal

Colorado Springs, Colo.-based Westmoreland Coal Company (NYSE
AMEX: WLB) -- http://www.westmoreland.com/-- is the oldest
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina.

Westmoreland Coal Company reported a net loss applicable to common
shareholders of $173 million in 2014, a net loss applicable to
common shareholders of $6.05 million in 2013 and a net loss
applicable to common shareholders of $8.58 million in 2012.

As of March 31, 2015, Westmoreland Coal had $1.82 billion in total
assets, $2.21 billion in total liabilities, and a $389 million
total deficit.

                           *     *     *

As reported by the TCR on Nov. 20, 2014, Standard & Poor's Rating
Services raised its corporate credit rating on Westmoreland Coal
Co. one-notch to 'B' from 'B-'.  "The stable outlook is supported
by Westmoreland's committed sales position over the next year,
which should result in stable cash flows," said Standard & Poor's
credit analyst Chiza Vitta.

Moody's upgraded the corporate family rating (CFR) of Westmoreland
Coal Company to 'B3' from 'Caa1', and assigned 'Caa1' rating to
the company's proposed new $300 million First Lien Term Loan, the
TCR reported on Nov. 20, 2014.  The upgrade of the CFR reflects the
company's successful integration of the Canadian mines acquired in
April 2014, and Moody's expectation that the company's Debt/ EBITDA
will track at around 5x in 2015 and 2016 and that the
company will be break-even to modestly free cash flow positive
over the same time period.


WESTMORELAND RESOURCE: Inks Contribution Agreement with WCC
-----------------------------------------------------------
Westmoreland Resource Partners, LP and Westmoreland Coal Company,
entered into a contribution agreement on June 1, 2015, pursuant to
which, WCC would make a contribution to WMLP of all of the
outstanding equity interests in Westmoreland Kemmerer, LLC, a
Delaware limited liability company (formerly Westmoreland Kemmerer,
Inc.).  Upon closing the Contribution, WMLP would own 100% of the
outstanding equity interests in Kemmerer, which owns and operates
the Kemmerer Mine in Lincoln County, Wyoming.

The aggregate consideration for the Contribution will be
approximately $230 million, to be paid in a combination of $135
million in cash, $20 million in common units and $75 million in a
newly established Series A Convertible Units in our partnership.
WMLP expects to close the Contribution in the third quarter of
2015.  The Contribution is subject to customary representations,
warranties and covenants by each of the parties thereto.  The
parties have also agreed to operate their businesses in the
ordinary course until the Contribution is consummated.  The closing
of the Contribution is conditioned on, among other things, the
receipt by WMLP of at least $65 million in net proceeds from an
offering of WMLP's common units.  There can be no assurance that
the Contribution will be completed within the anticipated
timeframe, or at all, or that the anticipated benefits will be
realized.

In connection with the entry into the Contribution Agreement and
the issuance of the Series A Convertible Units, WMLP agreed to
enter into an amendment to its Fourth Amended and Restated
Agreement of Limited Partnership.  The Amendment will establish the
terms of the Series A Convertible Units and any additional Series A
Convertible Units that may be issued in kind as a distribution, and
provides that each Series A Convertible Unit will have the right to
share in distributions from WMLP on a pro rata basis with the
common units.  All or any portion of each distribution payable in
respect of the Series A Convertible Units may, at WMLP's election,
be paid in Series A PIK Units.  When issued, the Series A
Convertible Units and the Series A PIK Units will convert into
common units at the earlier of (i) the first anniversary of the
initial issuance of the Series A Convertible Units pursuant to the
Contribution Agreement, (ii) the date on which WMLP first makes a
regular quarterly cash distribution with respect to any quarter to
holders of common units in an amount equal to at least $0.22 per
common unit, or (iii) upon a change of control.  The Series A
Convertible Units will have the same voting rights as if they were
outstanding common units and will vote together with the common
units as a single class.  In addition, the Series A Convertible
Units will be entitled to vote as a separate class on any matters
that materially adversely affect the rights or preferences of the
Series A Convertible Units in relation to other classes of
partnership interests or as required by law.

WCC owns 100% of the general partner of WMLP.  Accordingly, the
conflicts committee of the general partner's Board of Directors
approved the Contribution.  The conflicts committee, a committee of
independent members of the general partner's Board of Directors,
retained independent legal and financial advisers to assist it in
evaluating the Contribution.

A copy of the Contribution Agreement is available for free at:

                         http://is.gd/MIkWOU

                      About Westmoreland Resource

Oxford Resource Partners, LP, now known as Westmoreland Resource
Partners, LP, is a producer of high value steam coal, and is the
largest producer of surface mined coal in Ohio.

Westmoreland Resource reported a net loss of $28.6 million on $322
million of total revenues for the year ended Dec. 31, 2014,
compared with a net loss of $23.7 million on $347 million
of total revenues for the year ended Dec. 31, 2013.

As of March 31, 2015, the Company had $296 million in total assets,
$233 million in total liabilities and $62.7 million in total
partners' capital.


WESTMORELAND RESOURCE: To Sell $86.2-Mil. Worth of Common Units
---------------------------------------------------------------
Westmoreland Resource Partners, LP filed with the Securities and
Exchange Commission a Form S-1 registration statement relating to
the offering of an undetermined amount of common units representing
limited partner interests in the Partnership.  The proposed maximum
aggregate offering price is $86,250,000.

The Partnership's common units are traded on the New York Stock
Exchange under the symbol "WMLP."  The last reported sale price of
the Company's common units on the NYSE on May 29, 2015, was $10.50
per common unit.

A copy of the registration statement is available for free at:

                       http://is.gd/stfKQP

                  About Westmoreland Resource

Oxford Resource Partners, LP, now known as Westmoreland Resource
Partners, LP, is a producer of high value steam coal, and is the
largest producer of surface mined coal in Ohio.

Westmoreland Resource reported a net loss of $28.6 million on $322
million of total revenues for the year ended Dec. 31, 2014,
compared with a net loss of $23.7 million on $347 million
of total revenues for the year ended Dec. 31, 2013.


WET SEAL: Has Until Aug. 13 to File Chapter 11 Plan
---------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware extended the plan filing period for each of
Seal123, Inc., f/k/a The Wet Seal, Inc., et al., through and
including Aug. 13, 2015, and their solicitation period through and
including Oct. 12, 2015.

According to Travis G. Buchanan, Esq., at Young Conaway Stargatt &
Taylor, LLP, in Wilmington, Delaware, the Debtors, the Official
Committee of Unsecured Creditors, and Mador Lending, LLC,
("Buyer"), are currently exchanging drafts of the Chapter 11 plan
of liquidation.  The plan is subject to the Buyer's reasonable
approval under its asset purchase agreement and its related letter
agreement with the Debtors and the Committee.

                       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.  The Committee retained Pachulski Stang Ziehl & Jones
LLP as its counsel and Province Inc. as its financial advisor.

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.


XPO LOGISTICS: Moody's Rates New $2BB Unsecured Notes 'B1'
----------------------------------------------------------
Moody's Investors Service assigned a B1 rating to XPO Logistics,
Inc.'s $2 billion proposed senior unsecured notes offering. The
notes are expected to be issued in up to four tranches that may
include U.S. dollar-denominated senior notes due in 2022,
euro-denominated fixed rate senior notes due 2021, euro-denominated
floating rate senior notes due in 2020, and pounds
sterling-denominated senior notes due in 2020. Aggregate proceeds
from the notes offering, as well as a concurrent $1.3 billion
equity offering and a portion of XPO Logistics' $1 billion cash
balance, are expected to fund the acquisition of European transport
and logistics company Norbert Dontressangle ('Norbert') for
approximately $3.5 billion. All other ratings, including XPO's B1
Corporate Family Rating (CFR), B1-PD Probability of Default (PDR),
and B1 ratings on the company's existing $900 million senior
unsecured notes, are unaffected. The rating outlook is stable.

Assignments:

Issuer: XPO Logistics, Inc.

  -- Senior Unsecured Regular Bond/Debentures, Assigned
     B1 (LGD 4)

The B1 rating to the new notes reflects the compelling strategic
rationale of the transaction, XPO's favorable acquisition track
record, and the significant equity component of the expected
financing mix. The transaction will transform XPO's scale, adding
international diversification and enhancing its market position
across multiple service offerings. Additionally, the company's
management team has a successful track record of executing
ambitious growth strategies through acquisition. Finally, the
company is expected to issue about $1.3 billion of equity as part
of the acquisition. These positive operational and financial
characteristics will help to mitigate the risks associated with the
transaction.

The Norbert acquisition poses important execution and integration
risk. The company's $5 billion revenue base is nearly nine than
times that of XPO's next-largest acquisition -- New Breed Holding
Company which was acquired in 2014. In addition the target is based
in Europe, which, in Moody's view, suggests that integration and
synergy realization may be relatively more complex when compared to
the company's domestic acquisitions. Finally, this transaction will
increase pro forma leverage to 5.8x (reflecting Moody's standard
adjustments and the proposed equity offering). As a result, XPO's
capacity to undertake further debt-financed acquisitions (or to
pursue shareholder distribution initiatives) will be constrained
until clear progress has been made in integrating Norbert and in
reducing leverage.

Moody's considers the liquidity profile of XPO Logistics to be
adequate, as reflected in the SGL-3 Speculative Grade Liquidity
rating. Although the company's March 2015 cash balances exceeded $1
billion, we expect that much of that cash will be used to support
the Norbert transaction. Free cash flow has been negative in the
last few years, but we anticipate improving profitability to turn
free cash flow positive over the next 12 to 18 months. There are no
material debt maturities until 2017.

The stable ratings outlook is predicated on our expectation that
XPO Logistics continues to execute its growth strategy successfully
and improves its operating margins such that free cash flow turns
positive. The outlook also anticipates that leverage declines
although the pace of deleveraging could be affected by additional
debt-funded acquisitions that are more modestly sized than the
Norbert transaction.

The ratings could be considered for an upgrade if the company
successfully executes its growth strategy while demonstrating a
material and sustainable improvement in operating margins. Debt to
EBITDA of less than 4.0 times and FFO + Interest to Interest of
more than 4.0 times would be supportive of a positive rating
action.

The ratings for XPO Logistics could be downgraded if the company is
not able to improve profitability over the next 12 to 18 months,
adversely affecting its ability to turn free cash flow positive. A
downgrade could also be warranted if Debt to EBITDA is around 5.5
times or higher on a prolonged basis, or if FFO + Interest to
Interest weakens towards 2.5 times from an expected level of more
than 3.0 times. XPO's ratings could also be downgraded should it
prove unable to apply its IT-driven business model across the now
much larger international company, or should cultural issues emerge
which prevent efficient integration of recent acquisitions,
particularly Norbert.

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

XPO Logistics, Inc. is an asset-light provider of transportation
and logistics services, including truck brokerage, intermodal
services, contract logistics, last mile logistics, freight
forwarding and expedited transportation. The company is
headquartered in Greenwich, CT


ZEP INC: Moody's Assigns 'B3' CFR & Rates Secured Loans 'B2'
------------------------------------------------------------
Moody's Investors Service, Inc. assigned a first time B3 Corporate
Family Rating to Zep Inc. Moody's also assigned a B2 rating to
Zep's $42.5 million first lien revolving credit facility expiring
in 2020 and $360 million first lien term loan maturing in 2022.
Proceeds from the credit facility will be used to fund the
acquisition of Zep by New Mountain Capital LLC and repay existing
debt. The rating outlook is stable.

Moody's assigned the following ratings to Zep:

  -- Corporate Family Rating at B3

  -- Probability of Default Rating at B3-PD

  -- $42.5 million first lien revolving credit facility expiring
     2020 at B2 (LGD 3)

  -- $360 million first lien term loan maturing 2022 at
     B2 (LGD 3)

The rating outlook is stable.

Zep's B3 CFR reflects the company's very high degree of financial
leverage, the expectations of low revenue growth over the next
couple of years, and event risk related to private equity ownership
including shareholder distributions and debt funded acquisitions.
These negative factors are somewhat offset by end market
diversification and relatively stable earnings.

The company's liquidity is adequate. Moody's expects Zep to be able
to fund its basic cash obligations over the next twelve months
through internally generated cash without needing to draw on its
revolving credit facility. Moody's only expect one financial
covenant, a springing first lien net leverage covenant that springs
into effect when revolver utilization equals or exceeds 30%.
Moody's also expect that most of the company's assets will serve as
collateral for the credit facility and that proceeds from any asset
sale would likely go to secured lenders resulting in little
additional new liquidity for the company.

The B2 rating on the revolver and term loan (credit facilities) is
one notch higher than the CFR because of their priority position
relative to junior debt in the capital structure. Moody's considers
the $80 million of notes issued at a holding company as part of the
capital structure since the only source of funds to service the
holding company debt is from Zep and the holding company notes can
be traded apart from the equity interests. Zep and certain domestic
subsidiaries will be borrowers under the credit facilities.
Guarantors will include substantially all material domestic
subsidiaries and the direct parent of Zep. The credit facility
obligations will be secured by a first lien in substantially all
assets of the borrowers and guarantors and 65% of the voting stock
of foreign subsidiaries.

The stable outlook reflects Moody's view that revenue will grow
modestly, margins will trend higher as the company focuses on
reducing costs, and that liquidity will remain adequate.

Zep's ratings could be downgraded if revenue or margins decline,
liquidity deteriorates, or Moody's comes to expect an unsustainable
capital structure (which would likely be due to growth of the
holding company notes through a pay in kind feature).

Zep's ratings could be upgraded if there is a sustained improvement
in margins and debt to EBITDA is maintained below 6.5 times and
liquidity improves.

Zep Inc. (Zep) produces chemical based products including cleaners,
degreasers, deodorizers, disinfectants, floor finishes, and
sanitizers mostly under brand names and primarily for use by other
businesses. A portion of sales is to home improvement stores and
automotive after-market retailers. Revenue was $713 million for the
twelve months ended February 28, 2015 with over 80% derived from
sales in the United States.

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


[*] Bankruptcy Filings in Massachusetts Decreases 16.46% in May 201
-------------------------------------------------------------------
Eric Convey at Boston Business Journal reports that that bankruptcy
filings in Massachusetts dropped 16.46% to some 9,286 during the 12
months that ended May 31, 2015, from 11,115 in the 12 months before
that ended May 31, 2014.

According to Business Journal, May 2015 Chapter 7 filings dropped
42% to 7,088 from 8,905 in May 2014.  The report adds that Chapter
11 filings in May 2015 declined 3.45% to 84 from 87 in May 2014,
while the number of Chapter 13 filings held steady at 2,100.

Business Journal quoted Demeo LLP attorney Alex Mattera as saying,
"With the economy slowly improving, credit has again begun to
become available to consumers.  Real estate is bouncing back some
too, creating equity and another source of potential credit."


[*] GlassRatner to Launch New Worldwide Insolvency Group
--------------------------------------------------------
GlassRatner Advisory & Capital Group LLC, a Financial Advisory
Services firm with deep roots in the Bankruptcy & Restructuring,
Due Diligence and Forensic Accounting area, is targeting
international growth by participating in the launch of a worldwide
group of independent insolvency and restructuring firms.

The new organization BTG Global Advisory represents financial
institutions, law firms, private equity and other funds, bankruptcy
debtors and creditor committees, operating companies, and other
businesses and stakeholders affected by distress.  BTG Global
Advisory has a particular focus on Europe, the Middle East and
Africa, North American and Australasia regions.  The group will
also provide enhanced coverage in international investment banking
activity.

The new grouping of like-minded and entrepreneurial specialist
firms means that GlassRatner can now serve its clients and
relationships with access to top tiered international experts in a
seamless and efficient manner.

Nigel Atkinson, Chief Executive of BTG Global Advisory, said: "As
one of the world's leading specialist independent insolvency and
restructuring group's we have complete industry sector coverage,
and all of our members are well-established and trusted
professionals within each of their regions, giving us invaluable
local knowledge globally.

"The wide range of skills at our disposal means that we are not
limited to providing restructuring and insolvency services to
distressed businesses, but can offer a complete range of services
to underperforming businesses and their stakeholders, including
turnaround advisory and implementation, performance improvement
consulting, and loan workout."

GlassRatner co-founder Ian Ratner added, "This development is very
exciting as it allows us to continue to grow internationally.  We
have already done a good bit of work in the Caribbean and have
successfully executed assignments abroad, but now we can truly
offer an integrated global team.  This organization is not a loose
alliance; the member firms all know each other, have developed
strong personal bonds, and are investing together to ensure long
term success.

"This type of effort will continue to push our business forward and
allow us to grow, especially as we add partners in Central and
South America."

The core members of the alliance include Begbies Traynor (UK and
EMEA) -- www.begbies-traynor.com , Farber Financial Group (Canada)
-- www.farberfinancial.com , GlassRatner Advisory & Capital Group
LLC (USA) -- www.glassratner.com , Integrated Capital Services
Limited (India) -- www.raas.co.in /, PLUTA Rechtsanwalts GmbH
(Germany, Italy, Spain and EMEA) -- www.pluta.net and Rodgers Reidy
(Australia, Hong Kong, Malaysia, Singapore and New Zealand)
www.rodgersreidy.com


[*] New York's Rochester Bankruptcy Filings in Drops Over 18% in Ma
-------------------------------------------------------------------
Will Astor at Rochester Business Journal reports that new filings
in the federal Western District of New York's Rochester division
dropped more than 18% to 142 May 2015 from 174 in May 2014.  The
report says that last month, 108 Rochester-area petitioners filed
Chapter 7 bankruptcy cases, 34 filed Chapter 13 petitions, and no
area filers sought Chapter 11 protection.


[*] Toledo, Ohio Bankruptcy Filings Drop 13% in May 2015
--------------------------------------------------------
Bankruptcy filings in Toledo, Ohio, declined 13% to 390 in May
2015, from 451 in May 2014, The Blade reports, citing the U.S.
Bankruptcy Court's Clerk of Courts office.  

The Blade relates that in May 2015, Chapter 7 filings were down 12%
to 360 filings and Chapter 13 dropped 20% to 28.  The report adds
that two Chapter 11 filings were made in May 2015.

The Blade states that the May 2015 bankruptcy filings also dropped
from 405 in April 2015.


[^] BOOK REVIEW: BOARD GAMES - Changing Shape of Corporate Power
----------------------------------------------------------------
Author:     Arthur Fleischer, Jr.,
            Geoffrey C. Hazard, Jr., and
            Miriam Z. Klipper
Publisher:  Beard Books
Softcover:  248 pages
List Price: $34.95

Order your personal copy today at
http://www.amazon.com/exec/obidos/ASIN/1587981629/internetbankrupt

A ruling by the Delaware Supreme Court on January 29, 1985 was a
wake-up call to directors of U. S. corporations. On this date,
overruling a lower court decision, the Delaware Supreme Court
ruled that the nine board members of Chicago company Trans Union
Corporation were "guilty of breaching their duty to the company's
shareholders." What the board members had done was agree to sell
Trans Union without a satisfactory review of its value. The guilty
board members were ordered by the Court to pay "the difference
between the per share selling price and the 'real' market value of
the company's shares."

Needless to say, the nine Trans Union directors were shocked at
the guilt verdict and the punishment. The chairman of the board,
Jerome Van Gorkom, was a lawyer and a CPA who was also a board
member of other large, respected corporations. For the most part,
it was he who had put together the terms of the potential sale,
including setting value of the company's stock at $55.00 even
though it was trading at about $38.00 per share. News of the
possible sale immediately drove the stock up to $51.50 per share,
and was commented on favorably in a "New York Times" business
article. Still, Van Gorkom and the other directors were found
guilty of breaching their duty, and ordered by Delaware's highest
court to pay a sum to injured parties that would be financially
ruinous. This was clearly more than board members of the Trans
Union Corporation or any other corporation had ever bargained for.
It was more than board members had ever conceived was possible
without evidence of fraud or graft.

The three authors are all attorneys who have worked at the highest
levels of the legal field, business, and government. Fleischer is
the senior partner of the law firm Fried, Frank, Harris, Schriver
& Jacobson at the head of its mergers and acquisitions department.
He's also the author of the textbook "Takeover Defenses" which is
in its 6th edition. Hazard is a Professor of Law and former
reporter for the American Bar Association's special committee on
the lawyers' ethics code; while Klipper has been a New York
assistant district attorney prosecuting corporate and financial
fraud, and also a corporate attorney on Wall Street. Using the
Trans Union Corporation case as a watershed event for members of
boards of directors, the highly-experienced legal professionals
lay out the new ground rules for board members. In laying out the
circumstances and facts of a number of cases; keen, concise
analyses of these; and finding where and how board members went
wrong, the authors provide guidance for corporate directors, top
executives, and corporate and private business attorneys on
issues, processes, and decisions of critical importance to them.

Household International, Union Carbide, Gelco Corp., Revlon, SCM,
and Freuhauf are other major corporations whose merger-and-
acquisitions activities resulted in court cases that the authors
study to the benefit of readers. The Boards of Directors of these
as well as Trans Union and their positions with other companies
are listed in the appendix. Many other corporations and their
board members are also referred to in the text.

With respect to each of the cases it deals with, BOARD GAMES
outlines the business environment, identifies important
individuals, analyzes decisions, and discusses considerations
regarding laws, government regulations, and corporate practice. In
all of this, however, given the exceptional legal background of
the three authors, the book recurringly brings into the picture
the legalities applying to the activities and decisions of board
members and in many instances, court rulings on these. Passages
from court transcripts are occasionally recorded and commented on.
Elsewhere, legal terms and concepts--e. g., "gross nonattendance"-
-are defined as much as they can be. In one place, the authors
discuss six levels of responsibility for board members from
"assure proper result" through negligence up to fraud. Without
being overly technical, the authors' legal experience and guidance
is continually in the forefront. Needless to say, with this, BOARD
GAMES is a work of importance to board members and others with the
responsibility of overseeing and running corporations in the
present-day, post-Enron business environment where shareholders
and government officials are scrutinizing their behavior and
decisions.


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2015.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***