TCR_Public/150612.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 12, 2015, Vol. 19, No. 163

                            Headlines

2 D'S OILFIELD: Case Summary & 20 Largest Unsecured Creditors
ADS TACTICAL: S&P Revises Outlook to Stable & Affirms 'B' CCR
AGRITEK HOLDINGS: Reports $760K Net Loss in 1st Quarter
ALERE INC: S&P Assigns 'CCC+' Rating on $425MM Sr. Sub. Notes
ALLIED SYSTEMS: US Trustee, Ron Burkle Object to Chapter 11 Plan

AMEDICA CORP: Has $5.38-Mil. Net Loss for March 31 Quarter
AMERICAN CASINO: S&P Assigns BB- Rating on $310MM 1st Lien Loans
AMERICAN POWER: Conference Call Held to Provide Company Update
ANCHOR GLASS: S&P Rates New $465MM 1st Lien Term Loan 'BB-'
ARCAPITA BANK: NorthStar Buys US Real Estate Portfolio for $640M

ATLS ACQUISITION: Zuckerman Spaeder Buys Dolan Claim
BG MEDICINE: Amends Current Report with SEC
BIO-KEY INTERNATIONAL: Lacks Revenue to Support Operations
BLAKENEY COMPANY: Case Summary & 20 Largest Unsecured Creditors
BRANCH CHRISTIAN: Closes Bookstore Due to Stiff Competition

BRIAR'S CREEK: Duffy & Young Sells $56K Claim to ASM Capital
BRIGHT MOUNTAIN: Posts $334K Net Loss in March 31 Quarter
C. WONDER: Deadline to Decide on HQ Lease Extended to Aug. 20
CAL DIVE: $13,000 in Claims Switched Hands in March 2015
CAL DIVE: Huber Capital Reports 4.9% Stake as of May 31

CALMENA ENERGY: Creditors Proofs of Claim Due July 31
CAPSTONE THERAPEUTIC: Reports $716K Net Loss in First Quarter
CEL-SCI CORP: Incurs $12.6-Mil. Net Loss for First Quarter
CHASSIX HOLDINGS: $5,000 in Claims Sold Between March & April
CIRQUE DU SOLEIL: S&P Assigns 'B' CCR & Rates 1st Lien Loans 'B+'

CLOUDEEVA INC: Sapphire Sells $20,000 Claim to Liquidity Solutions
CORINTHAN COLLEGES: Richards Layton Approved as Bankruptcy Counsel
CORINTHIAN COLLEGES: Rust/Omni Approved as Administrative Agent
CREATIVE CIRCLE: S&P Removes 'B' CCR From CreditWatch Positive
CTI BIOPHARMA: Amends License Agreement with Baxter

DAMES POINT: July 2 Hearing on UST Bid for Dismissal/Conversion
DEJOUR ENERGY: Reports C$1.17-Mil. Net Loss in Q1
DELTEK INC: S&P Affirms 'B' Corp. Credit Rating, Outlook Stable
DENDREON CORP: $98,000 in Claims Switched Hands Feb. to April
DOMINION PAVING: Voluntary Chapter 11 Case Summary

EL PASO CHILDREN'S HOSPITAL: Texas Attorney Gen. Supports Mediation
ELBIT IMAGING: Shareholders Exercise Right to Withdraw From BUTU
ELITE PHARMACEUTICALS: Signs Licensing Agreement with Epic
ENERGY FUTURE: Harris Industries Sells $1.4K Claim to Sonar Credit
ENERGY FUTURE: July 13 Hearing to Determine Oncor Leading Bidder

ESPERANZA INN: Case Summary & 5 Largest Unsecured Creditors
EXPERIENCE INC: Point Park to Disable Career Network Website
FINJAN HOLDINGS: June Markman Hearing Set for Proofpoint, Symantec
FLEXPOINT SENSOR: Reports $479K Net Loss in First Quarter
FOUR OAKS: Names David Rupp as New Chief Executive Officer

FREDERICK'S OF HOLLYWOOD: Bayard Okayed as Committee Co-Counsel
FREDERICK'S OF HOLLYWOOD: BDO Okayed as Committee Advisor
FREDERICK'S OF HOLLYWOOD: Cooley Okayed as Committee Lead Counsel
FREDERICK'S OF HOLLYWOOD: Court Issues 3rd Interim DIP Order
FREDERICK'S OF HOLLYWOOD: Seeks General Release for Salus

FURNITURE BRANDS: Liquidating Trustee Has Settlement Pact With EPA
GBG RANCH: Updates Full-Payment Liquidating Plan
GEORGE WASHINGTON ACADEMY: S&P Raises LT Rating From 'BB+'
GIGGLES N HUGS: Reports $319K Net Loss in March 29 Quarter
GMG CAPITAL: Athenian Says 2nd Amended Plan Unconfirmable

GRASS VALLEY: Amends List of Largest Unsecured Creditors
HAAS ENVIRONMENTAL: Pipe Services Sells $73,000 Claim to Sierra
HD SUPPLY: Posts $242 Million Net Income in First Quarter
HORNED DORSET: Creditor's Meeting Slated for July 6
HORNED DORSET: Wilhelm Sack to Serve as Representative

HOVNANIAN ENTERPRISES: Incurs $19.6 Million Net Loss in Fiscal Q2
IBCS MINING: Cash Collateral Hearing Continued Until July 15
IBCS MINING: Hearing on Plan Outline Continued Until July 15
INTERNATIONAL BRIDGE: Can Access Cash Collateral on Interim Basis
K&K INC: Case Summary & Largest Unsecured Creditor

LANGUAGE LINE: S&P Raises CCR to 'B', Outlook Stable
LANTHEUS MEDICAL: Proposes $365M Loan Facility with Credit Suisse
LERIN HILLS: Proposes DIP Financing From Putnam
LERIN HILLS: Seeks to Reject Several Contracts
LERIN HILLS: Wants Notice of MUD Actions

LONESTAR GEOPHYSICAL: Amends Application to Hire McAfee & Taft
LUMBERMENS UNDERWRITING: Put Into Rehabilitation
MARTINSBURG PIKE: Case Summary & 4 Largest Unsecured Creditors
MDC PARTNERS: S&P Affirms 'B' CCR, Outlook Remains Stable
MINT RESTAURANT: Remains Open; IRS Is Among Largest Creditors

MUSCLEPHARM CORPORATION: Shareholders Raise Liquidity Concerns
NATROL INC: $232,000 in Claims Switched Hands in April 2015
NATROL INC: Kochhar Okayed as Indian Counsel Effective April 21
NEONODE INC: Stockholders Reelect 2 Directors
NET ELEMENT: Registers 53.6 Million Shares for Resale

NORTHWEST BANCORP: Oct. 26 Set as Bar Date for Governmental Units
PACIFIC STEEL: Snow And Galgiani Sells $8.9K Claim to Sonar Credit
PELICAN CAY: Case Summary & 3 Largest Unsecured Creditors
PHILLIPS INVESTMENTS: Plan Filing Date Extended to July 31
QUICKSILVER RESOURCES: Incurs $116-Mil. Net Loss for Q1

R & S ST. ROSE: Hearing on Plan Continued to July 1
REED AND BARTON: Gets Final Approval to Access $2.3-Mil. DIP Loan
ROOMLINX INC: KMJ Corbin Expresses Going Concern Doubt
RYNARD PROPERTIES:  Seeks Authority to Amend Cash Collateral Budget
SEARS HOLDINGS: Announces Commencement of Seritage Rights Offering

SG BLOCKS: Incurs $357K Net Loss in First Quarter
SOCKET MOBILE: Reports $71.6K Net Loss in First Quarter
SOLAR POWER: Announces $50 Million Share Repurchase Program
SPHERIX INC: Reports $4.09-Mil. Loss in First Quarter
STANDARD REGISTER: Files Schedules of Assets and Liabilities

STANDARD REGISTER: Proposes Up to $4.3MM Bonuses to Key Employees
TELEXFREE LLC: Meeting of Creditors May Be Scheduled in Two Months
TEXAS REGENCY: Apartment Files for Ch. 11 with $11.4MM Debt
TEXAS REGENCY: Case Summary & 20 Largest Unsecured Creditors
THERAPEUTICSMD INC: Completes Enrollment in The Rejoice Trial

TRANSGENOMIC INC: Expands Board of Directors and Executive Team
TRUE DRINKS: Reports $2.28-Mil. Net Loss in First Quarter
TRUMP ENTERTAINMENT: Regulator Allows Carl Icahn to Own Taj Mahal
TRUMP ENTERTAINMENT: Regulators Bless Icahn's Purchase of Taj Mahal
TWIN RINKS: Proposes Jones & Schwartz as Counsel

TWIN RINKS: Taps Greenspan as Accountants
UROLOGIX INC: Has $349K Net Loss in Q3 Ended March 31
VISITING NURSE: Case Summary & 20 Largest Unsecured Creditors
WBH ENERGY: Castlelake Withdraws Bid to Convert Case to Chapter 7
WET SEAL: No Objection to Plan Exclusivity Extension

[^] BOOK REVIEW: EPIDEMIC OF CARE

                            *********

2 D'S OILFIELD: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: 2 D's Oilfield Services, Inc.
        PO Box 10888
        Midland, TX 79702

Case No.: 15-70082

Chapter 11 Petition Date: June 10, 2015

Court: United States Bankruptcy Court
       Western District of Texas (Midland)

Judge: Hon. Ronald B. King

Debtor's Counsel: Max R. Tarbox, Esq.
                  TARBOX LAW, PC
                  2301 Broadway
                  Lubbock, TX 79401
                  Tel: (806) 686-4448
                  Fax: (806) 368-9785
                  Email: max@tarboxlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by David R. Spencer, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txwb15-70082.pdf


ADS TACTICAL: S&P Revises Outlook to Stable & Affirms 'B' CCR
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it has revised its
outlook on ADS Tactical Inc. to stable from negative.  At the same
time, S&P affirmed its 'B' corporate credit rating on the company.

"The outlook revision reflects the improvement in ADS' liquidity
profile, as the company recently extended the maturity date of its
$200 million ABL revolver to 2020 from March 2016," said Standard &
Poor's credit analyst Chris Mooney.  Management has also improved
the company's operating efficiency and grown its market share in
the face of challenging U.S. defense budget conditions over the
past year, which has increased ADS' earnings and improved its
credit metrics.  The company's debt-to-EBITDA metric declined to
5.2x for the 12 months ended March 31, 2015, from 7.0x for the same
period in 2014, due in part to meaningful debt reduction in
first-quarter 2015.  S&P expects the company's debt-to-EBITDA
metric to remain between 5.0x and 5.5x through 2016, with some
fluctuation possible based on the timing of working capital
payments.

The stable outlook reflects that S&P believes ADS' credit metrics
will remain relatively steady over the next year, with some
fluctuation possible depending on the timing of working capital
payments.  S&P anticipates that ADS will continue to secure new
opportunities and increase its market share, but that its earnings
growth will be limited by declining U.S. troop levels and industry
pricing pressure as the U.S. Department of Defense moves to reduce
its costs.

S&P could raise its rating on ADS if its debt-to-EBITDA metric
improves to less than 4.5x and its FFO-to-debt ratio rises above
12% from continued improvement in the company's operational
performance and higher-than-expected earnings.

S&P could lower the rating if unexpected declines in ADS' earnings
and cash flow cause its debt-to-EBITDA metric to rise above 7x for
a sustained period.



AGRITEK HOLDINGS: Reports $760K Net Loss in 1st Quarter
-------------------------------------------------------
Agritek Holdings, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net loss
of $760,000 on $7,221 of product revenue for the three months ended
March 31, 2015, compared to a net loss of $236,000 on $19,500 of
product revenue for the same period last year.

The Company's balance sheet at March 31, 2015, showed $1.21 million
in total assets, $1.7 million in total liabilities, and a
stockholders' deficit of $494,000.

As of March 31, 2015 the Company had an accumulated deficit of
$12.1 million and working capital deficit of $873,000.  These
conditions 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/xbekbx
                          
Agritek Holdings is engaged in the digitization of patient records
and distribution of hemp based nutritional products to the
medicinal marijuana sector in the United States.  The company
operates in two segments, Merchant Services and Wholesale Sales.
Its products include data management system, a technology platform,
which enables consumers to file, store, and retrieve original and
authentic personal health documents through the Internet; and
energy and hemp ice tea drink products.  The company also provides
a range of solutions for electronically processing merchant and
patient transactions in the healthcare industry.  In addition, it
is involved in importing and distributing vaporizers and
e-cigarettes under the Mont Blunt brand; and managing real property
for fully-licensed and compliant growers, and dispensaries in
regulated medicinal and recreational markets.  The company was
formerly known as MediSwipe, Inc. and changed its name to Agritek
Holdings, Inc. in May 2014.  Agritek Holdings, Inc. was
incorporated in 1997 and is based in West Palm Beach, Florida.

The Company reported a net loss of $2.01 million on $47,300 in
revenues for the year ended Dec. 31, 2014, compared to a net loss
of $4.42 million on $144,000 of revenues in the same period last
year.

Following the 2014 results, D. Brooks & Associates CPA's P.A.
expressed substantial doubt about the Company's ability to continue
as a going concern citing that the Company has incurred operating
losses, has incurred negative cash flows from operations and has a
working capital deficit.





ALERE INC: S&P Assigns 'CCC+' Rating on $425MM Sr. Sub. Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'CCC+' issue-level
rating to Alere Inc.'s proposed offering of $425 million of senior
subordinated notes due in eight years.  The recovery rating on the
notes is '6', reflecting S&P's expectation of negligible (0% to
10%) recovery in the event of payment default.  The company will
use proceeds from the note issuance to redeem existing senior
subordinated notes.

Alere is a niche player in the life sciences industry, focusing
primarily on the professional diagnostics segment.  Over the past
year, Alere has had operating weaknesses due to sales declines
stemming from its customer mix and lackluster performance from
prior acquisitions.  Expense reductions have offset some of these
issues, but highlighted the company's vulnerability in the
competitive life science industry.  The operating issues, the
company's reliance on primarily one segment, and its niche position
support S&P's assessment of "weak" business risk profile.

S&P expects that Alere will use proceeds from asset sales to reduce
debt and that, together with some EBITDA improvement, will modestly
improve credit measures over the next 12 to 18 months. S&P's
base-case assumption is that leverage will decline to 8x by the end
of 2015 and roughly 7.5x by the end of 2016, inclusive of this debt
issuance.  Funds from operations (FFO) to total debt will still be
less than 10% during this period and, together with leverage of
more than 5x, will continue to support S&P's "highly leveraged"
financial risk assessment.

The corporate credit rating on Alere is 'B' and the outlook is
stable.

RATINGS LIST

Alere Inc.
Corporate Credit Rating            B/Stable/--

New Rating

Alere Inc.
$425 Mil. Senior Subordinated
  Notes Due 2023                   CCC+
   Recovery Rating                 6



ALLIED SYSTEMS: US Trustee, Ron Burkle Object to Chapter 11 Plan
----------------------------------------------------------------
Jim Christie at Reuters reports that the U.S. Trustee and
billionaire investor Ron Burkle objected to Allied Systems
Holdings' Chapter 11 plan, calling it unconfirmable.

The Company's disclosure statement is "another in a seemingly
endless list of attempts" by lenders to disenfranchise Mr. Burkle's
Yucaipa Cos, which counts Robert Klyman of Gibson Dunn & Crutcher
as one of its lawyers, funds affiliated with Yucaipa said in
documents filed with the U.S. Bankruptcy Court for the District of
Delaware on June 9, 2015,

As reported by the Troubled Company Reporter on May 8, 2015, the
Company and its debtor affiliates filed with the ankruptcy Court a
joint Chapter 11 plan of reorganization, co-proposed by the
Committee and the first lien agents.  The Plan provides that
certain of the Debtors' assets, the Litigation Trust Assets, will
vest in the Allied Litigation Trust, and the remainder of the
Debtors' assets, including the proceeds from the sale of
substantially all of the Debtors' assets, will either revest in the
Reorganized Debtors or be distributed to the Debtors' creditors.

                   About Allied Systems Holdings

BDCM Opportunity Fund II, LP, Spectrum Investment Partners LP, and
Black Diamond CLO 2005-1 Adviser L.L.C., filed involuntary
petitions for Allied Systems Holdings Inc. and Allied Systems Ltd.
(Bankr. D. Del. Case Nos. 12-11564 and 12-11565) on May 17, 2012.
The signatories of the involuntary petitions assert claims of at
least $52.8 million for loan defaults by the two companies.

Allied Systems, through its subsidiaries, provides logistics,
distribution, and transportation services for the automotive
industry in North America.

Allied Holdings Inc. first filed for chapter 11 protection (Bankr.
N.D. Ga. Case Nos. 05-12515 through 05-12537) on July 31, 2005.
Jeffrey W. Kelley, Esq., at Troutman Sanders, LLP, represented the
Debtors in the 2005 case.  Allied won confirmation of a
reorganization plan and emerged from bankruptcy in May 2007
with $265 million in first-lien debt and $50 million in second-
lien debt.

The petitioning creditors said Allied defaulted on payments of
$57.4 million on the first lien debt and $9.6 million on the
second.  They hold $47.9 million, or about 20% of the first-lien
debt, and about $5 million, or 17%, of the second-lien obligation.
They are represented by Adam G. Landis, Esq., and Kerri K.
Mumford, Esq., at Landis Rath & Cobb LLP; and Adam C. Harris,
Esq., and Robert J. Ward, Esq., at Schulte Roth & Zabel LLP.

Allied Systems Holdings Inc. formally put itself and 18
subsidiaries into bankruptcy reorganization June 10, 2012,
following the filing of the involuntary Chapter 11 petition.

The Company is being advised by Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., and Jeffrey W. Kelley, Esq., at
Troutman Sanders, Gowling Lafleur Henderson.

The bankruptcy court process does not include captive insurance
company Haul Insurance Limited or any of the Company's Mexican or
Bermudan subsidiaries.  The Company also announced that it intends
to seek foreign recognition of its Chapter 11 cases in Canada.

An official committee of unsecured creditors has been appointed in
the case.  The Committee consists of Pension Benefit Guaranty
Corporation, Central States Pension Fund, Teamsters National
Automobile Transporters Industry Negotiating Committee, and
General Motors LLC.  The Committee is represented by Sidley Austin
LLP.

In January 2014, the U.S. Trustee for Region 3 appointed a three-
member Official Committee of Retirees.

Yucaipa Cos. has 55% of the senior debt and took the position it
had the right to control actions the indenture trustee would take
on behalf of debt holders.  The state court ruled in March 2013
that the loan documents didn't allow Yucaipa to vote.

In March 2013, the bankruptcy court also gave the official
creditors' committee authority to sue Yucaipa.  The suit includes
claims that the debt held by Yucaipa should be treated as equity
or subordinated so everyone else is paid before the Los Angeles-
based owner. The judge allowed Black Diamond to participate in the
lawsuit against Yucaipa and Allied directors.

Allied Systems Holdings, Inc., changed its name to ASHINC
Corporation.


AMEDICA CORP: Has $5.38-Mil. Net Loss for March 31 Quarter
----------------------------------------------------------
Amedica Corporation filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net loss
of $5.38 million on $4.74 million of product revenue for the three
months ended March 31, 2015, compared with a net loss of $4.71
million on $5.78 million of product revenue for the same period in
2014.

The Company's balance sheet at March 31, 2015, showed $43.7 million
in total assets, $40.5 million in total liabilities, and
stockholders' equity of $3.18 million.

For the three months ended March 31, 2015 and 2014, the Company
incurred used cash in operations of $3 million and $2 million,
respectively.  The Company had an accumulated deficit of $177.9
million and $172.5 million at March 31, 2015 and Dec. 31, 2014,
respectively.  To date, the Company's operations have been
principally financed from proceeds from the issuance of preferred
and common stock, convertible debt and bank debt and, to a lesser
extent, cash generated from product sales.  It is anticipated that
the Company will continue to generate operating losses and use cash
in operations through 2015.  The Company's ability to access
capital when needed is not assured and, if not achieved on a timely
basis, will materially harm its business, financial condition and
results of operations.  These uncertainties create substantial
doubt about the Company's ability to continue as a going concern.

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

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



AMERICAN CASINO: S&P Assigns BB- Rating on $310MM 1st Lien Loans
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned Las Vegas-based casino
operator American Casino & Entertainment Properties LLC's (ACEP)
proposed $310 million senior secured first-lien credit facilities,
consisting of a $15 million revolver due 2020 and a $295 million
term loan due 2022, its 'BB-' issue-level rating with a recovery
rating of '2', indicating its expectation for substantial (70% to
90%; lower half of the range) recovery for lenders in the event of
a payment default.

The recovery prospects for first-lien lenders under the proposed
credit facilities are lower than recovery prospects on the
company's existing first-lien facility because of the higher amount
of first-lien debt outstanding at the time of default than under
S&P's previous default scenario.  S&P's enterprise valuation
remains unchanged from its prior analysis.

The company will use proceeds from the new term loan, along with
cash on hand, to refinance its existing $215 million ($181 million
outstanding as of March 31, 2015) first-lien term loan and
$120 million second-lien term loan, and to pay transaction fees and
expenses and early call premiums.  S&P plans to withdraw its
ratings on the existing first- and second-lien debt once the
proposed transaction closes and the debt is repaid.

"Our 'B+' corporate credit rating and stable outlook on ACEP are
unchanged.  We expect the transaction will improve EBITDA interest
coverage closer to 4x from our previous expectation of around 3x at
the end of 2015 and improve free operating cash flow generation.
We anticipate ACEP will continue to use free cash flow to repay
debt helping to further improve credit measures through 2016.  We
now expect leverage to improve to the high-3x area by the end of
2016 from the low-4x area at the end of 2015, resulting from a
combination of debt repayment, along with high-single-digit growth
in EBITDA in 2015 and low- to mid-single digit growth in EBITDA in
2016.  Notwithstanding the improvement in credit measures, ACEP is
controlled by real estate investment funds affiliated with Goldman
Sachs and we expect the company's financial policy will remain
consistent with our "aggressive" financial risk assessment, namely
sustaining leverage in the 4x to 5x range.  We believe it unlikely
that ACEP will sustain leverage below 4x over the long term," S&P
said.

RECOVERY ANALYSIS

Key analytical factors:

S&P's simulated default scenario contemplates a default in 2019,
reflecting a significant decline in cash flow as a result of a
prolonged economic downturn and increased competitive pressures.

S&P assumes a reorganization following the default, using an
emergence EBITDA multiple of 6x to value the company.

Simulated default assumptions:
   -- Simulated year of default: 2019
   -- EBITDA at emergence: $42 million
   -- EBITDA multiple: 6x

Simplified waterfall:
   -- Net enterprise value (after 3% admin. costs): $244 million
   -- Secured first-lien debt: $307 million
   -- Recovery expectation: 70% to 90% (lower half of the range)

Note: all debt amounts include six months of prepetition interest.

RATINGS LIST

American Casino & Entertainment Properties LLC
Corporate Credit Rating                        B+/Stable/--

New Rating

American Casino & Entertainment Properties LLC
$15 mil. revolver due 2020
Senior Secured                                 BB-
  Recovery Rating                               2L
$295 mil. term loan due 2022
Senior Secured                                 BB-   
  Recovery Rating                               2L



AMERICAN POWER: Conference Call Held to Provide Company Update
--------------------------------------------------------------
American Power Group Corporation held a telephonic conference call
on May 20, 2015, to provide an update on the Company to investors.
A copy of the transcript of the conference call is available for
free at http://is.gd/SZVh9p

                     About American Power Group

American Power Group's alternative energy subsidiary, American
Power Group, Inc., provides a cost-effective patented Turbocharged
Natural Gas conversion technology for vehicular, stationary and
off-road mobile diesel engines.  American Power Group's dual fuel
technology is a unique non-invasive energy enhancement system that
converts existing diesel engines into more efficient and
environmentally friendly engines that have the flexibility to run
on: (1) diesel fuel and liquefied natural gas; (2) diesel fuel and
compressed natural gas; (3) diesel fuel and pipeline or well-head
gas; and (4) diesel fuel and bio-methane, with the flexibility to
return to 100 percent diesel fuel operation at any time.  The
proprietary technology seamlessly displaces up to 80% of the
normal diesel fuel consumption with the average displacement
ranging from 40 percent to 65 percent.  The energized fuel balance
is maintained with a proprietary read-only electronic controller
system ensuring the engines operate at original equipment
manufacturers' specified temperatures and pressures.  Installation
on a wide variety of engine models and end-market applications
require no engine modifications unlike the more expensive invasive
fuel-injected systems in the market.  Additional information at
http://www.americanpowergroupinc.com/         

American Power reported a net loss available to common
stockholders of $3.25 million on $6.28 million of net sales for
the year ended Sept. 30, 2014, compared with a net loss available
to common stockholders of $2.92 million on $7.01 million of net
sales for the year ended Sept. 30, 2013.

As of March 31, 2015, the Company had $7.76 million in total
assets, $5.37 million in total liabilities and $2.39 million total
stockholders' equity.


ANCHOR GLASS: S&P Rates New $465MM 1st Lien Term Loan 'BB-'
-----------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' issue-level
rating, with a '2' recovery rating, to U.S. glass packaging
producer Anchor Glass Container Corp.'s proposed $465 million
first-lien term loan maturing in 2022.  Anchor Glass will use
proceeds to repay the existing $315 million first-lien term loan
due 2021, fund an approximate $145 million dividend to
shareholders, and pay transaction-related fees and expenses.  The
'2' recovery rating indicates S&P's expectation of substantial (70%
to 90%; lower half of the range) recovery in the event of a payment
default.  The existing $100 million asset-based lending (ABL)
revolving credit facility will remain in place.

All of S&P's ratings on Anchor Glass, including the 'B+' corporate
credit rating on the company, are unchanged.  The outlook is
stable.  S&P assess the company's business risk profile as "fair,"
and its financial risk profile as "highly leveraged," as defined in
S&P's criteria, which results in an anchor outcome of 'b'. Although
Anchor Glass' trailing-12-month debt leverage is 4.7x pro forma for
the transaction, S&P assess the company's financial risk profile as
highly leveraged, reflecting its view of the financial policy risk
associated with the company's ownership by a financial sponsor.
S&P adjusts the anchor upward by one notch to account for its
positive view of Anchor Glass under S&P's comparable ratings
analysis.  All other modifiers are neutral for the rating.

RECOVERY ANALYSIS

Key analytical factors:

S&P has assigned issue-level and recovery ratings to Anchor Glass's
proposed $465 million first-lien term loan facility.

S&P continues to value the company on a going-concern basis using a
5.5x multiple of its estimated emergence EBITDA.

S&P estimates that, by emergence, the company would be able to
improve its EBITDA to about $75 million.

   Simulated default assumptions:
   Year of default: 2019
   EBITDA at emergence: $75 million
   EBITDA multiple: 5.5x
    -------------------------------------
Gross enterprise value at default: $413 million
Administrative costs: $21
ABL borrowings: $50 million
Net recovery value: $342 million
First-lien term loan outstanding: $465 million
   -— Recovery expectation: 70% to 90% (lower half of the range)
First-lien recovery rating: '2' (lower half of the range)
Note: All debt amounts include six months of prepetition interest

RATING LIST

Anchor Glass Container Corp.
Corporate Credit Rating                    B+/Stable

New Rating

Anchor Glass Container Corp.
$465 mil 1st-lien term loan due 2022       BB-
  Recovery Rating                           2L



ARCAPITA BANK: NorthStar Buys US Real Estate Portfolio for $640M
----------------------------------------------------------------
Nadia Saleem at Reuters reports that Arcapita Bank said it had sold
its real estate portfolio of retirement communities -- which
includes 16 facilities and 4,000 residential units for continuing
senior care -- across the U.S. to NorthStar Healthcare Income Trust
for $640 million.

Reuters quoted Arcapita CEO Atif Abdulmalik as saying, "This
transaction represents Arcapita's fifth successful exit in the
senior living sector, which continues to benefit from favourable
long-term fundamentals.  We are pleased with the profitable outcome
of this investment."

Arcapita has given $3 billion in exit proceeds to its investors in
the last two years but did not give a breakdown of profits for its
real estate portfolio exit, Reuters relates, citing Mr.
Abdulmalik.

                     About Arcapita Bank

Arcapita Bank B.S.C., also known as First Islamic Investment Bank
B.S.C., along with affiliates, filed for Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 12-11076) in Manhattan on March 19,
2012.  The Debtors said they do not have the liquidity necessary to
repay a US$1.1 billion syndicated unsecured facility when it comes
due on March 28, 2012.

Falcon Gas Storage Company, Inc., filed a Chapter 11 petition
(Bankr. S.D.N.Y. Case No. 12-11790) on April 30, 2012.  Falcon Gas
is an indirect wholly owned subsidiary of Arcapita that previously
owned the natural gas storage business NorTex Gas Storage Company
LLC.  In early 2010, Alinda Natural Gas Storage I, L.P. (nka Tide
Natural Gas Storage I, L.P.), Alinda Natural Gas Storage II, L.P.
(nka Tide Natural Gas Storage II, L.P.) acquired the stock of
NorTex from Falcon Gas for $515 million.  Arcapita guaranteed
certain of Falcon Gas' obligations under the NorTex Purchase
Agreement.

The Debtors tapped Gibson, Dunn & Crutcher LLP as bankruptcy
counsel, Linklaters LLP as corporate counsel, Towers & Hamlins LLP
as international counsel on Bahrain matters, Hatim S Zu'bi &
Partners as Bahrain counsel, KPMG LLP as accountants, Rothschild
Inc. and financial advisor, and GCG Inc. as notice and claims
agent.

Milbank, Tweed, Hadley & McCloy LLP represented the Official
Committee of Unsecured Creditors.  Houlihan Lokey Capital, Inc.,
served as its financial advisor and investment banker.

Founded in 1996, Arcapita is a global manager of Shari'ah-compliant
alternative investments and operates as an investment bank.
Arcapita is not a domestic bank licensed in the United States.
Arcapita is headquartered in Bahrain and is regulated under an
Islamic wholesale banking license issued by the Central Bank of
Bahrain.  The Arcapita Group employs 268 people and has offices in
Atlanta, London, Hong Kong and Singapore in addition to its Bahrain
headquarters.  The Arcapita Group's principal activities include
investing on its own account and providing investment opportunities
to third-party investors in conformity with Islamic Shari'ah rules
and principles.

The Arcapita Group had roughly US$7 billion in assets under
management.  On a consolidated basis, the Arcapita Group owns
assets valued at roughly US$3.06 billion and has liabilities of
roughly US$2.55 billion.  The Debtors owe US$96.7 million under two
secured facilities made available by Standard Chartered Bank.

Arcapita explored out-of-court restructuring scenarios but was
unable to achieve 100 percent lender consent required to effectuate
the terms of an out-of-court restructuring.

Subsequent to the Chapter 11 filing, Arcapita Investment Holdings
Limited, a wholly owned Debtor subsidiary of Arcapita in the Cayman
Islands, issued a summons seeking ancillary relief from the Grand
Court of the Cayman Islands with a view to facilitating the Chapter
11 cases.  AIHL sought the appointment of Zolfo Cooper as
provisional liquidator.

As reported in the TCR on Jun 19, 2013, the Bankruptcy Court for
the Southern District of New York entered its Findings of Fact,
Conclusions of Law, and Order confirming the Second Amended Joint
Chapter 11 Plan of Reorganization of Arcapita Bank B.S.C.(c) and
Related Debtors with respect to each Debtor other than Falcon Gas
Storage Company, Inc.

A copy of the Confirmed Second Amended Joint Plan (With First
Technical Modifications) is available at:

          http://bankrupt.com/misc/arcapita.doc1265.pdf

The effective date of the Debtors' Second Amended Joint Plan of
Reorganization, dated as of June 11, 2013, occurred on Sept. 17,
2013.


ATLS ACQUISITION: Zuckerman Spaeder Buys Dolan Claim
----------------------------------------------------
In the Chapter 11 cases of ATLS Acquisition, LLC, et al., two
claims switched hands in May 2015:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Claims Recovery Group LLC     Invacare Supply Group    $8,601.00

Zuckerman Spaeder LLP         Carl Dolan             $279,874.03

                       About Liberty Medical

Entities that own diabetics supply provider Liberty Medical led by
ATLS Acquisition, LLC, sought Chapter 11 protection (Bankr. D. Del.
Lead Case No. 13-10262) on Feb. 15, 2013, just less than three
months after a management buy-out and amid a notice by the lender
who financed the transaction that it's exercising an option to
acquire the business.

Liberty has been in business for 22 years serving the needs of
both type 1 and type 2 diabetic patients.  Liberty is a mail order
provider of diabetes testing supplies. In addition to diabetes
testing supplies, the Debtors also sell insulin pumps and insulin
pump supplies, ostomy, catheter and CPAP supplies and operate a
large mail order pharmacy.  Liberty operates in seven different
locations and has 1,684 employees.

Dennis A. Meloro, Esq., at Greenberg Traurig, LLP, serves as the
Debtor's counsel; Ernst & Young LLP to provide investment banking
advice; and Epiq Bankruptcy Solutions, LLC, as claims and noticing
agent for the Clerk of the Bankruptcy Court.

An official committee of unsecured creditors has been appointed in
the case and consists of LifeScan, Inc., Abbott Laboratories, and
Teva Pharmaceuticals USA, Inc.  They are represented by Joseph H.
Huston Jr., Esq., Maria Aprile Sawczuk, Esq., and Camille C. Bent,
Esq., of Stevens & Lee P.C. as well as Bruce Buechler, Esq., S.
Jason Teele, Esq., and Nicole Stefanelli, Esq. of Lowenstein
Sandler LLP.  The Committee has tapped Mesirow Financial
Consulting, LLC, as financial advisors.

                           *     *     *

In November 2014, the Debtor received the green light from the
Bankruptcy Court for its $68.5 million sale to an investment group
led by private equity firm Palm Beach Capital.  The auction for
the assets boosted the purchase price by more than $20 million.


BG MEDICINE: Amends Current Report with SEC
-------------------------------------------
BG Medicine, Inc., amended its current report on Form 8-K filed on
May 12, 2015, to update the description of the voting rights of the
Series A Preferred Stock, to file an updated Certificate of
Designations to reflect the revised voting rights of the Series A
Preferred Stock for compliance with NASDAQ Listing Rule 5640, and
to clarify certain other disclosures.

                         Abbott Amendment

On Dec. 23, 2014, the FDA granted 510(k) clearance for Abbott
Laboratories' (Abbott) ARCHITECT Galectin-3 assay, the first FDA
cleared automated blood test for Galectin-3.  On May 8, 2015, in
anticipation of the U.S. market launch of the Abbott Laboratories'
(Abbott) ARCHITECT Galectin-3 assay, BG Medicine, Inc., a Delaware
corporation, amended its license and development agreement with
Abbott.  As Abbott takes the final steps toward making the assay
available in the U.S., the Company and Abbott amended the agreement
due to market dynamic considerations since the Galectin-3 assay
first began development in 2009.

Series A Preferred Stock Financing with Flagship

On May 12, 2015, the Company entered into a Securities Purchase
Agreement with the Company's principal stockholders, Applied
Genomic Technology Capital Fund, L.P., AGTC Advisors Fund, L.P. and
Flagship Ventures Fund 2007, L.P., which are affiliates of the
Company's directors, Noubar B. Afeyan, Ph.D. and Harry W. Wilcox.
Pursuant to the terms and subject to the conditions contained in
the Purchase Agreement, the Company issued and sold to the
Purchasers secured convertible promissory notes in aggregate
principal amount of $500,000.  In addition and pursuant to the
terms of the Purchase Agreement, and subject to the approval of the
Company's stockholders at the Company's 2015 annual meeting of
stockholders and the satisfaction or waiver of other closing
conditions, the Company has agreed to issue and sell to the
Purchasers $2,000,000 of shares of newly created Series A Preferred
Stock, $0.001 par value per share, of the Company at the second
closing to be held following the Company's 2015 Annual Meeting.
The Notes and Series A Preferred Stock will not be and have not
been registered under the Securities Act of 1933, as amended, and
may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirements.

                 Secured Convertible Promissory Notes
                       and Related Agreements

Subject to the approval of the issuance of the Series A Preferred
Stock by the Company's stockholders at the 2015 Annual Meeting, at
the Second Closing the Notes will be automatically converted
pursuant to their terms into that number of shares of Series A
Preferred Stock equal to the principal amount of the Notes plus all
accrued but unpaid interest thereon divided by the Purchase Price
of the Series A Preferred Stock.  The Notes will not be convertible
into shares of Series A Preferred Stock unless and until the
Company's stockholders approve the issuance of shares of Series A
Preferred Stock and the Second Closing is consummated.  If the
Notes have not been repaid or converted prior to the earlier of
Sept. 30, 2015, and the date the Company terminates the Purchase
Agreement in accordance with its terms, the Company will be
obligated to repay the outstanding principal amount of the Notes
plus any accrued but unpaid interest thereon. In the event of a
Change of Control, the holders of the Notes will be entitled to the
payment of a premium equal to two times the outstanding principal
amount of the Notes, in addition to the payment of principal and
accrued but unpaid interest thereon prior to any payments to
holders of the common stock, $0.001 par value per share, of the
Company.

Contemporaneously with the execution and delivery of the Purchase
Agreement and the issuance of the Notes by the Company to the
Purchasers, the Company and the Purchasers entered into a Security
Agreement, dated May 12, 2015, pursuant to which the Company
granted to the Purchasers a security interest in substantially all
of the Company's assets, other than the Company's intellectual
property, to secure the Company's obligations under the Notes.
Pursuant to the terms of the Security Agreement, the Company's
intellectual property will become subject to the security interest
granted by the Company to the Purchasers upon repayment of all
amounts owed under that certain Loan and Security Agreement by and
among the Company, General Electric Capital Corporation as Agent,
the Lenders and the Guarantors dated as of February 10, 2012, as
amended.  Pursuant to a Subordination and Intercreditor Agreement
by and among the Company, the Purchasers and GECC, dated May 12,
2015, entered into contemporaneously with the execution and
delivery of the Purchase Agreement, the Company's payment
obligations under the Notes are subordinated to the Company’s
payment obligations under the GECC Agreement and the security
interest granted by the Company to the Purchasers to secure the
Company's obligations under the Notes is subordinated to the
security interest granted by the Company to GECC to secure the
Company's obligations under the GECC Agreement.  In connection with
the entry into the Purchase Agreement, the Company and GECC amended
the GECC Agreement, dated May 12, 2015, to, among other things,
permit the Company to enter into the Purchase Agreement and related
agreements.

             Series A Preferred Stock, Certificate of
            Designations and Investor Rights Agreement

Under the terms of the Purchase Agreement, the Company agreed that
the price per share at which the Series A Preferred Stock will be
sold at the Second Closing will be the lesser of (a) 85% of the
arithmetic average of the volume-weighted average price of the
Company's Common Stock on each of the ten trading days immediately
preceding the date of the Second Closing and (b) $0.67 per share
(subject to appropriate adjustment for any stock split or similar
adjustment affecting the Common Stock).

The shares of Series A Preferred Stock will have the rights,
preferences and privileges set forth in a certificate of
designations to the Company's Certificate of Incorporation, as
currently in effect, that will be filed by the Company prior to the
issuance of the shares, which are summarized as follows:

Ranking: the Series A Preferred Stock will rank senior in
preference and priority to the Common Stock and each other class or
series of capital stock of the Company, except for any class or
series of capital stock issued in compliance with the terms of the
Certificate of Designations.

Dividends: the holders of Series A Preferred Stock will be entitled
to receive, out of funds legally available for the payment of
dividends under Delaware law, cumulative dividends that accrue
daily at an annual rate of 8%, compounded and payable quarterly in
cash or in additional shares of Series A Preferred Stock at the
election of each holder.  The holders of Series A Preferred Stock
will also be entitled to participate in cash dividends and in-kind
distributions made on shares of Common Stock.

Liquidation Preference: Upon liquidation, including deemed
liquidations pursuant to a merger, consolidation or a sale of all
or substantially all of the Company's assets, the holders of Series
A Preferred Stock will be entitled to be paid first out of any
proceeds in an amount per share equal to the price at which shares
of Series A Preferred Stock were sold in the Financing, plus all
accrued but unpaid dividends on each share of Series A Preferred
Stock, and prior to payment of any amounts on the Company's Common
Stock.  Thereafter, the holders of Series A Preferred Stock will
also share pro rata on an as converted to Common Stock basis in
payments made to the holders the Company's Common Stock.
Accordingly, the holders of the Series A Preferred Stock will be
entitled to receive the proceeds out of any sale or liquidation of
the Company before any such proceeds are paid to holders of the
Company's Common Stock and then share in any proceeds paid to
holders of the Company's Common Stock.  As a result, only the sale
or liquidation proceeds in excess of the liquidation preference
plus accrued but unpaid dividends would be available for
distribution to holders of the Company's Common Stock.

Conversion and Anti-Dilution Protection: each share of Series A
Preferred Stock is initially convertible into one share of Common
Stock at any time at the option of each holder and automatically
upon the written consent of the holders of a majority of the
outstanding shares of Series A Preferred Stock.  The conversion
price will be subject to adjustment as described below in the event
that the Company issues other securities at a price per share less
than the conversion price of the Series A Preferred Stock then in
effect, subject to specified exceptions, and is also subject to
adjustment in connection with stock splits, combinations, dividends
and other corporate transactions affecting the Common Stock.  The
rights, preferences and privileges of the Series A Preferred Stock
include full-ratchet anti-dilution protection until the first
anniversary of the date that the Series A Preferred Stock is issued
and weighted-average anti-dilution protection thereafter.

Voting Rights: holders of Series A Preferred Stock will be entitled
to vote with the holders of the Common Stock on an as-converted
basis, except that no holder of Series A Preferred Stock will be
entitled to cast votes for the number of shares of Common Stock
issuable upon conversion of the Series A Preferred Stock held by
such holder that exceeds (subject to a proportionate adjustment in
the event of a stock split, stock dividend, combination or other
proportionate recapitalization) the quotient of (A) the aggregate
purchase price paid by such holder for its Series A Preferred
Stock, divided by (B) the greater of (i) $0.80 and (ii) the closing
price of the Common Stock on the trading day immediately prior to
the date its Series A Preferred Stock is issued. In addition, prior
to the conversion of the Series A Preferred Stock, the consent of
the holders of at least a majority of the Series A Preferred Stock
then outstanding, voting together as a single class, will be
required for the Company to take certain actions, including, among
other things: liquidating, dissolving or winding up the business
and affairs of the Company or effecting any merger, consolidation
or other liquidation event; amending, altering or repealing any
provision of the Certificate of Incorporation, the Certificate of
Designations or the Bylaws of the Company; creating or authorizing
any class or series of capital stock ranking senior to or on parity
with the Series A Preferred Stock or increasing the number of
authorized shares of Series A Preferred Stock; purchasing,
redeeming, paying or declaring dividends on any shares of capital
stock of the Company, with certain exceptions; increasing or
decreasing the size of the Board of Directors of the Company; and
specified other matters.

Redemption: unless prohibited by Delaware law, beginning on March
31, 2016, the holders of Series A Preferred Stock will have the
right to require the Company to redeem the shares of Series A
Preferred Stock, in whole or in part, in cash for a price per share
equal to the greater of (i) the then current fair market value of
the Series A Preferred Stock and (ii) the Accrued Value (as defined
in the Certificate of Designations) plus the amount of any accrued
and unpaid dividends thereon.  The redemption right will expire if
the Company closes a single or a series of related capital raising
transactions in which the Company issues its capital stock to
investors resulting in gross proceeds to the Company of at least
$5.5 million in the aggregate, excluding the conversion of any
indebtedness and inclusive of the Series A Preferred Stock issuable
pursuant to the Purchase Agreement.  In addition, holders of Series
A Preferred Stock will have redemption rights in connection with
specified change of control transactions of the Company.

Board of Directors: the holders of Series A Preferred Stock will be
entitled to nominate one director to the Board, who shall initially
be elected promptly following the 2015 Annual Meeting. Subject to
applicable law and stock exchange requirements, the Series A
Director will be entitled to serve as a member of each committee of
the Board.  The rights to nominate a Series A Director will
terminate if less than 20% of the shares of Series A Preferred
Stock issued under the Purchase Agreement are no longer
outstanding.

The obligations of the Parties to complete the Second Closing are
subject to the satisfaction or, to the extent legally permissible,
waiver of certain conditions.  These conditions include, among
other things: (i) the approval by the Company's stockholders of the
issuance of the shares of Series A Preferred Stock pursuant to the
Purchase Agreement; (ii) the filing of the Certificate of
Designations with the Secretary of State of the State of Delaware;
and (iii) the execution and delivery of the Investor Rights
Agreement.

In connection with the Second Closing, the Company will also enter
into a Fifth Amended and Restated Investor Rights Agreement with
the Purchasers as well as the stockholders who hold shares of
Common Stock that are registrable securities under the Company's
existing Fourth Amended and Restated Investor Rights Agreement
dated as of July 10, 2008.  Under the terms of the Investor Rights
Agreement, the Existing IRA will be amended and restated to grant
certain demand and piggyback registration rights with respect to
the shares of Common Stock issuable upon conversion of the Series A
Preferred Stock.  These registration rights are subject to certain
conditions and limitations, including the right of the underwriters
of an offering to limit the number of shares of the Company's
Common Stock included in any such registration under certain
circumstances.  The Company is generally required to pay all
expenses incurred in connection with registrations effected in
connection with the registration rights, excluding underwriting
discounts and commissions.

Under the terms of the Purchase Agreement, the Company may
terminate the agreement, if, at any time prior to the Company
stockholders' approval of the issuance of the Series A Preferred
Stock, the Board changes its recommendation to the stockholders of
the Company and recommends that stockholders vote against the
consummation of the Second Closing and the issuance of the shares
of Series A Preferred Stock to the Purchasers at the Second
Closing.  In the event of such termination, the Company has agreed
to pay the Purchasers a termination fee of $100,000 plus the
Purchasers' reasonable, documented fees and expenses.  The Purchase
Agreement may also be terminated by written consent of the Company
and (i) the holders of a majority of the outstanding principal
amount of the Notes, if prior to the Second Closing, or (ii) the
holders of a majority of the outstanding shares of Series A
Preferred Stock (determined on an as-converted to Common Stock
basis), if after the Second Closing.

In addition, under the terms of the Purchase Agreement, subject to
applicable securities laws, the Purchasers have the right to
participate in any alternative financing in which the Company
proposes to offer or sell its Common Stock or convertible
securities to investors on or before the Second Closing, whether or
not the Company has terminated the Purchase Agreement.  Under this
right, the Purchasers may participate in an aggregate amount up to
$2.5 million on the same terms and conditions as the other
investors participating in the alternative financing.

In connection with the execution of the Purchase Agreement by the
Company and the Purchasers, on May 12, 2015, Stephane Bancel, who
is affiliated with Flagship Ventures, resigned from the Board,
effective as of that time.  Also, effective as of that time, the
Board appointed Harry W. Wilcox, also an affiliate of Flagship
Ventures, to fill the vacancy created by Mr. Bancel's resignation.
Mr. Bancel did not communicate any disputes regarding the Company's
operations, policies or practices to the Company in connection with
this resignation, nor is the Company aware of any. Subject to SEC
and NASDAQ corporate governance rules, Mr. Wilcox will serve on the
Company's Nominating and Governance Committee and its Compensation
Committee.  It is anticipated that following the Second Closing of
the Financing and the issuance of the Series A Preferred Stock, Mr.
Wilcox will remain on the Board and his seat will transition into
that of the Preferred Elected Director.

Harry W. Wilcox, age 61, has served on the Board since May 2015.
Mr. Wilcox has been chief operating officer and general partner of
Flagship Ventures, a venture capital firm, since 2013. From 2006 to
2013, he was chief financial officer and Partner of Flagship
Ventures.  From 2004 to 2006, he was chief financial officer and
senior vice president of corporate development of EXACT Sciences.
Mr. Wilcox received his M.B.A. from Boston University and his B.S.
in Finance from the University of Arizona.  Mr. Wilcox currently
serves as a director of T2 Biosystems, Inc., an in vitro
diagnostics company.  The Board concluded that Mr. Wilcox should
serve as a director as of the date of this filing because of Mr.
Wilcox's experience leading successful healthcare and technology
companies, and his experience as a venture investor.

In January 2013, the Company closed a follow-on underwritten public
offering of 6,900,000 shares of Common Stock at a price to the
public of $2.00 per share, including an aggregate of 2,000,000
shares purchased at the public offering price by entities
affiliated with Flagship Ventures for an aggregate offering price
of $4,000,000.  Shares of Common Stock purchased in the offering by
entities affiliated with Flagship Ventures included 75,000 shares
purchased by AGTC Advisors Fund, L.P., 500,000 shares purchased by
Applied Genomic Technology Fund, L.P., 1,050,000 shares purchased
by Flagship Ventures Fund 2007, L.P., 125,000 shares purchased by
NewcoGen Equity Investors LLC and 250,000 shares purchased by
NewcoGen Group LLC.

On Dec. 3, 2014, the Company issued 113,989 shares of Common Stock
to entities affiliated with Flagship Ventures upon the net exercise
of previously issued warrants to purchase shares of Common Stock,
including 49,392 shares issued to NewcoGen Group LLC, 52,095 shares
issued to NewcoGen Equity Investors LLC, 6,226 shares issued to ST
NewcoGen LLC and 6,276 shares issued to NewcoGen -- Long Reign
Holding LLC.

                         About BG Medicine

Waltham, Mass.-based BG Medicine is a diagnostics company focused
on the development and commercialization of novel cardiovascular
diagnostic tests to address significant unmet medical needs,
improve patient outcomes and contain healthcare costs.  The
Company is currently commercializing two diagnostic tests, the
first of which is the BGM Galectin-3 test, a novel assay for
measuring galectin-3 levels in blood plasma or serum for use as an
aid in assessing the prognosis of patients diagnosed with heart
failure.  The Company's second diagnostic test is the CardioSCORE
test, which is designed to identify individuals at high risk for
near-term, significant cardiovascular events, such as heart attack
and stroke.

BG Medicine reported a net loss of $8.06 million on $2.78 million
of total revenues for the year ended Dec. 31, 2014, compared to a
net loss of $15.8 million on $4.07 million of total revenues for
the year ended Dec. 31, 2013.  The Company previously reported a
net loss of $23.8 million in 2012.

Deloitte & Touche LLP, in Boston, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company's recurring
losses from operations, recurring cash used in operating activities
and accumulated deficit raise substantial doubt about its ability
to continue as a going concern.


BIO-KEY INTERNATIONAL: Lacks Revenue to Support Operations
----------------------------------------------------------
BIO-key International, Inc., filed its quarterly report on Form
10-Q, disclosing a net loss of $924,000 on $649,000 of revenue for
the three months ended March 31, 2015, compared with a net loss of
$299,000 on $1.37 million of revenue for the same period last
year.

The Company's balance sheet at March 31, 2015, showed $1.47 million
in total assets, $1.49 million in total liabilities, and a
stockholders' deficit of $23,700.

The Company has incurred significant losses to date and at March
31, 2015, had an accumulated deficit of approximately $58 million.
In addition, broad commercial acceptance of the Company's
technology is critical to the success and ability to generate
future revenues.  

At March 31, 2015, the Company's total cash and cash equivalents
were approximately $303,000, as compared to approximately $844,000
at Dec. 31, 2014.  The Company estimates that it currently requires
approximately $460,000 per month to conduct operations, a monthly
amount that it has been unable to achieve consistently through
revenue generation.

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

                        http://is.gd/yFd04P

                          About BIO-Key

Wall, N.J.-based BIO-key International, Inc., develops and markets
advanced fingerprint biometric identification and identity
verification technologies, cryptographic authentication-
transaction security technologies, as well as related Identity
Management and Credentialing software solutions.


BLAKENEY COMPANY: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Blakeney Company, Inc.
        3519 Greensboro Avenue
        Tuscaloosa, AL 35401

Case No.: 15-70869

Chapter 11 Petition Date: June 10, 2015

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

Debtor's Counsel: Mary Lane L Falkner, Esq.
                  LEWIS, SMYTH, WINTER & FORD, LLC
                  611 Helen Keller Blvd.
                  Tuscaloosa, AL 35404
                  Tel: 205-553-5353
                  Fax: 205-553-5593
                  Email: marylane@lswattorneys.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by George Blakeney, director.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/alnb15-70869.pdf


BRANCH CHRISTIAN: Closes Bookstore Due to Stiff Competition
-----------------------------------------------------------
Margie Fishman, writing for Delawareonline.com, reports that The
Branch Christian Bookstore is shutting down before the end of the
summer, after 25 years.

Citing store owner Nannette Jones, Delawareonline.com relates that
the bookstore, which has faced stiff competition from free online
downloads and waning demand for religious goods, couldn't compete
with online retailers like Amazon.

The Branch Christian Bookstore is a 2,500-square-foot store that
sells music and Bibles at 128 Greentree Drive, Dover, Delaware.


BRIAR'S CREEK: Duffy & Young Sells $56K Claim to ASM Capital
------------------------------------------------------------
In the Chapter 11 case of Briar's Creek Golf, LLC, one claim
switched hands on May 26, 2015:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
ASM Capital V, L.P.           Duffy & Young LLC     $56,121.90

                         About Briar's Creek

Briar's Creek Golf, LLC, sought Chapter 11 protection (Bankr. D.
S.C. Case No. 15-00712) in Charleston, South Carolina, on Feb. 9,
2015.  

The Debtor owns The Golf Club at Briar's Creek, in Johns Island,
South Carolina.  The Debtor disclosed that the property's value is
unknown and the property secures $6.74 million of debt.  Secured
creditors Edward L. Myrick Sr. and South Coast Community Bank are
owed $3.89 million and $2.85 million.

The Debtor is pursuing a sale of substantially all of its assets to
Briar's Creek Holdings, LLC, for a purchase price of $11.3 million,
which consists of $7.4 million in cash and assumption of the $3.9
million secured debt owed to Edward L. Myrick, Sr., plus assumption
of the post-closing liabilities under the Debtor's executor
contracts.

The Hon. John E. Waites presides over the bankruptcy case.

The Debtor is represented by G. William McCarthy, Jr., Esq., Daniel
J. Reynolds, Jr., Esq., and W. Harrison Penn, Esq., at McCarthy Law
Firm, LLC, in Columbia, South Carolina.

The Debtor also filed an application to appoint Ouzts Ouzts &
Company, as the Debtor's accountants, and accounting firm of Dixon
Hughes to file tax returns and do other related accounting
functions.  The Debtor aso tapped Keen Summit as its business
broker to assist in the marketing and sale of assets.


BRIGHT MOUNTAIN: Posts $334K Net Loss in March 31 Quarter
---------------------------------------------------------
Bright Mountain Acquisition Corporation filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q, disclosing a net loss of $334,000 on $310,000 of total
revenue for the three months ended March 31, 2015, compared with a
net loss of $359,000 on $213,000 of total revenue for the same
period in 2014.

The Company's balance sheet at March 31, 2015, showed $2.23 million
in total assets, $306,700 in total liabilities and stockholders'
equity of $1.92 million.

For the first quarter of 2015, the Company reported cash used in
operating activities of $420,913 and had an accumulated deficit of
$4.82 million at March 31, 2015.  The report of its independent
registered public accounting firm on the Company's audited
consolidated financial statements at Dec. 31, 2014 and 2013 and for
the years then ended contains an explanatory paragraph regarding
substantial doubt of the Company's ability to continue as a going
concern based upon the Company's net losses, cash used in
operations and accumulated deficit.  These factors, among others,
raise substantial doubt about its 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/c8AmGB
                          
Bright Mountain Acquisition Corp. engages in the developing of a
personal website portal.  It owns and manages websites which are
customized to provide its niche users, including military, law
enforcement and first responders with information and news that is
of interest to them.  The company sells various products through
its website and third party portals such as Amazon.com and
Ebay.com.  The company was founded on May 20, 2010 and is
headquartered in Boca Raton, FL.

The Company reported a net loss of $345,000 on $277,000 of total
revenue for the three months ended Sept. 30, 2014, compared with a
net loss of $259,000 on $152,000 of total revenue for the same
period in 2013.

The Company's balance sheet at Sept. 30, 2014, showed $1.65 million

in total assets, $224,000 in total liabilities, and
a stockholders' equity of $1.43 million.

The Company sustained a net loss attributable to common
shareholders
of $1.12 million and used cash in operating activities of $1.26
million
for the nine months ended Sept. 30, 2014.  The Company had an
accumulated
deficit of $4.08 million at Sept. 30, 2014.


C. WONDER: Deadline to Decide on HQ Lease Extended to Aug. 20
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey granted C.
Wonder LLC, et al., an extension until Aug. 20, 2015, of the
time to assume or reject the corporate headquarters lease, without
prejudice to the Debtors' rights to seek further extensions of the
deadline in accordance with Section 365(d)(4) of the Bankruptcy
Code.

                         About C. Wonder

Founded by J. Christopher Burch in 2010, C. Wonder is a specialty
retailer with retail stores in the United States.  With
headquarters in New York, the company sells women's clothing,
jewelry, shoes, handbags and other accessories as well as select
home goods under the C. Wonder brand.  The Company maintains two
distribution centers in New Jersey.

The Company opened its first retail store in New York in 2011.  By
2014, the Company had expanded its operations to include 29
locations across 13 states including its flagship location in
Soho, New York.  Amid mounting losses, C. Wonder closed 16 of its
retail stores by the end of 2014.   C. Wonder closed 9 additional
stores in January 2015.  As of the bankruptcy filing, C. Wonder had
four retail stores in the U.S. (Soho, Flat Iron, Time Warner Center
and Manhasset).

C. Wonder LLC and its affiliates sought Chapter 11 bankruptcy
protection (Bankr. D.N.J. Lead Case No. 15-11127) in Trenton, New
Jersey on Jan. 22, 2015.  The cases are assigned to Judge Michael
B. Kaplan.

The Debtors tapped Cole, Schotz, Meisel, Forman & Leonard, P.A.,
as counsel, and Marotta, Gund, Budd & Dzera, LLC, as crisis
management services provider.

As of the Filing Date, the Debtors had assets with a book value of
$43.7 million and liabilities of $61.0 million.

The U.S. Trustee for Region 3 appointed three members to the
Official Committee of Unsecured Creditors.  The Creditors'
Committee has tapped Porzio, Bromberg & Newman, P.C., as counsel,
and CBIZ Accounting, Tax & Advisory of New York, LLC, as financial
advisors.


CAL DIVE: $13,000 in Claims Switched Hands in March 2015
--------------------------------------------------------
In the Chapter 11 cases of Cal Dive International Inc., et al.,
four claims switched hands in March 2015:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Sierra Liquidity Fund, LLC   H I S Fire & Safety      $9,253.23

Sierra Liquidity Fund, LLC   Hydro-Quip Mfg & Supply  $2,204.33

Sierra Liquidity Fund, LLC   Del Rio, Inc.            $1,174.84

Sierra Liquidity Fund, LLC   Pac Specialties            $657.19

                   About Cal Dive International

Houston, Texas-based marine contractor Cal Dive International,
Inc., provides manned diving, pipelay and pipe burial, platform
installation and salvage, and light well intervention services to
the offshore oil and natural gas industry on the Gulf of Mexico
OCS, Northeastern U.S., Latin America, Southeast Asia, China,
Australia, West Africa, the Middle East, and Europe.

Cal Dive and its U.S. subsidiaries filed simultaneous voluntary
petitions (Bankr. D. Del. Lead Case No. 15-10458) on March 3, 2015.
Through the Chapter 11 process, the Company intends to sell
non-core assets and intends to reorganize or sell as a going
concern its core subsea contracting business.

Cal Dive disclosed total assets of $571 million and total debt of
$411 million as of Sept. 30, 2015.

The Debtors tapped Richards, Layton & Finger, P.A., as counsel,
O'Melveny & Myers LLP, as co-counsel; Jones Walker Jones Walker LLP
as corporate counsel; and Kurtzman Carson Consultants, LLC, as
claims and noticing agent.  The Debtors also tapped Carl Marks
Advisory Group LLC as crisis managers and appoint F. Duffield
Meyercord as chief restructuring officer.

The U.S. Trustee for Region 3 formed a five-member committee of
unsecured creditors in the case.  The Committee retained Akin Gump
Strauss Hauer & Feld LLP and Pepper Hamilton LLP as co-counsel; and
Guggenheim Securities, LLC as exclusive investment banker.

Cal Dive Offshore Contractors, Inc., disclosed total assets of
$233,273,806 and $311,339,932 in liabilities as of the Chapter 11
filing.


CAL DIVE: Huber Capital Reports 4.9% Stake as of May 31
-------------------------------------------------------
Huber Capital Management, LLC, disclosed in an amended Schedule 13G
filed with the Securities and Exchange Commission that as of May
31, 2015, it beneficially owns 4,836,131 shares of common stock of
Cal Dive International Inc., which represents 4.91 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/crxdg4

                   About Cal Dive International

Houston, Texas-based marine contractor Cal Dive International,
Inc., provides manned diving, pipelay and pipe burial, platform
installation and salvage, and light well intervention services to
the offshore oil and natural gas industry on the Gulf of Mexico
OCS, Northeastern U.S., Latin America, Southeast Asia, China,
Australia, West Africa, the Middle East, and Europe.

Cal Dive and its U.S. subsidiaries filed simultaneous voluntary
petitions (Bankr. D. Del. Lead Case No. 15-10458) on March 3, 2015.
Through the Chapter 11 process, the Company intends to sell
non-core assets and intends to reorganize or sell as a going
concern its core subsea contracting business.

Cal Dive disclosed total assets of $571 million and total debt of
$411 million as of Sept. 30, 2015.

The Debtors tapped Richards, Layton & Finger, P.A., as counsel,
O'Melveny & Myers LLP, as co-counsel; Jones Walker Jones Walker LLP
as corporate counsel; and Kurtzman Carson Consultants, LLC, as
claims and noticing agent.  The Debtors also tapped Carl Marks
Advisory Group LLC as crisis managers and appoint F. Duffield
Meyercord as chief restructuring officer.

The U.S. Trustee for Region 3 formed a five-member committee of
unsecured creditors in the case.  The Committee retained Akin Gump
Strauss Hauer & Feld LLP and Pepper Hamilton LLP as co-counsel; and
Guggenheim Securities, LLC as exclusive investment banker.

Cal Dive Offshore Contractors, Inc., disclosed total assets of
$233,273,806 and $311,339,932 in liabilities as of the Chapter 11
filing.


CALMENA ENERGY: Creditors Proofs of Claim Due July 31
-----------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas
established July 31, 2015, as the deadline for any individual or
entity to file proofs of claim against Calmena Energy Services
Inc., et al.  Government units may also file their proof of claim
by July 31 deadline.

                       About Calmena Energy

Ernst & Young Inc., as foreign representative, filed petitions
under Chapter 15 of the U.S. Bankruptcy Code on behalf of
Calgary, Canada-based Calmena Energy Services Inc. and its three
affiliates.

The lead Chapter 15 case is Case No. 15-30786.  The case is
assigned to Judge Karen K. Brown of the U.S. Bankruptcy Court
for the Southern District of Texas (Houston).

The Chapter 15 petitioner is represented by Robert Andrew Black,
Esq., at Norton Rose Fulbright LLP, in Houston, Texas.



CAPSTONE THERAPEUTIC: Reports $716K Net Loss in First Quarter
-------------------------------------------------------------
Capstone Therapeutics Corp. filed its quarterly report on Form
10-Q, disclosing a net loss of $716,000 on $nil of revenues for the
three months ended March 31, 2015, compared with a net loss of
$1.02 million on $nil of revenues for the same period last year.

The Company's balance sheet at March 31, 2015, showed $2.8 million
in total assets, $365,000 in total liabilities, and stockholders'
equity of $2.43 million.

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

                        http://is.gd/WIf8pI

Tempe, Ariz.-based Capstone Therapeutics Corp. is a biotechnology
company for developing a pipeline of peptides and other molecules.
The Company’s products are aimed at patients with under-served
medical conditions.

The Company reported a net loss of $4.17 million on $nil in
revenue for the year ended Dec. 31, 2014, compared to a net loss
of $3.92 million on $nil of revenues in the same period last
year.

Moss Adams LLP expressed substantial doubt about the Company's
ability to continue as a going concern, citing the uncertainty
with regards to the Company’s ability to raise funding to
implement its future business strategy.



CEL-SCI CORP: Incurs $12.6-Mil. Net Loss for First Quarter
----------------------------------------------------------
CEL-SCI Corporation filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net loss
of $12.6 million on $198,000 of grant and other income for the
three months ended March 31, 2015, compared with a net loss of
$13.4 million on $67,200 of grant and other income for the same
period last year.

The Company's balance sheet at March 31, 2015, showed $12.7 million
in total assets, $12.4 million in total liabilities, and
stockholders' equity of $343,000.

Due to recurring losses from operations and future liquidity needs,
there is substantial doubt about the Company's ability to continue
as a going concern.

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

                       http://is.gd/7GBH3R
                          
CEL-SCI Corporation is engaged in the development and manufacturing
of products for cancer and infectious diseases.  The Vienna,
Virginia-based Company aims to produce therapies that utilize the
body's natural defense system to cure cancer, malaria, and more.


CHASSIX HOLDINGS: $5,000 in Claims Sold Between March & April
-------------------------------------------------------------
In the Chapter 11 cases of Chassix Holdings, Inc., et al., three
claims switched hands between March 31, 2015, and April 6, 2015:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Sierra Liquidity Fund, LLC   Watcon, Inc.             $3,093.50

Sierra Liquidity Fund, LLC   Flex Cable - Northern    $1,135.00
                             Cable & Automation, LLC

Sierra Liquidity Fund, LLC   Modern Automation          $783.70

                       About Chassix Holdings

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

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

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

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

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


CIRQUE DU SOLEIL: S&P Assigns 'B' CCR & Rates 1st Lien Loans 'B+'
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to Montreal, Quebec-based Cirque Du Soleil Group. The
outlook is stable.

S&P also assigned its 'B+' issue-level rating and '2' recovery
rating to the company's proposed senior secured first-lien
revolving credit facility, which will consist of a $100 million
revolver due 2020 and $615 million term loan due 2022.  The '2'
recovery rating indicates S&P's expectation for substantial
(70%-90%; upper end of the range) recovery in the event of a
payment default.

At the same time, S&P assigned its 'CCC+' issue-level rating and
'6' recovery rating to the company's proposed $170 million
second-lien term loan due 2023.  The '6' recovery rating indicates
S&P's expectation for negligible (0%-10%) recovery in the event of
a payment default.

Proceeds will be used to fund the purchase consideration of $1.412
billion (of which $707 million will be contributed shareholder
equity), $30 million of cash to the balance sheet, and $50 million
of fees and expenses related to the transaction.

"The ratings on Cirque reflect the company's solid brand
recognition, which enables it to form strategic partnerships with
venue providers that help cover the costs of developing new shows,"
said Standard & Poor's credit analyst Eric Nietsch.  The contracts
for these residential shows are long term, typically with terms of
five to 10 years.  Its primary partnership is with MGM in the Las
Vegas market, which accounts for a large portion of revenue and
some predictability of cash flows since it guarantees Cirque's
operating costs plus an additional premium as well as royalty of
box office sales.  "Partially offsetting these positive factors are
competitive pressures from other providers of entertainment and
leisure activities," added Mr. Nietsch. "Additionally, we believe
there is moderate counterparty risk with MGM, which owns the venues
for seven of Cirque's resident shows. Cirque's strategy is to
expand into new markets to increase revenue although growth
prospects from these new ventures are largely uncertain.  Moreover,
we believe expansion into new markets could result in higher
expenses and capital expenditure requirements, especially if the
company takes on full ownership of these productions."

Cirque Du Soleil was founded in 1984 in Quebec and entered Las
Vegas in 1992.  It is the largest theatrical producer in the world,
and has performed in 330 cities and 48 countries.  Cirque Du Soleil
competes most directly with other live entertainment companies,
including other theatrical shows such as the Blue Man Group, as
well as plays, musicals, and concerts in the Las Vegas market.
Around 40% of its sales come from Las Vegas, which is sensitive to
deterioration in macroeconomic conditions.  Still, Cirque's partner
in Las Vegas has some of the largest venues, which provides it with
some barriers to entry. Cirque competes more broadly with other
providers of leisure activities and entertainment, such as live
sporting events, television, movies, nightlife, theme parks, and
recreational activities.



CLOUDEEVA INC: Sapphire Sells $20,000 Claim to Liquidity Solutions
------------------------------------------------------------------
In the Chapter 11 cases of Cloudeeva, Inc., et al., one claim
switched hands on April 20, 2015:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Liquidity Solutions, Inc.     Sapphire Software      $20,520.00
                              Solutions Inc.

                      About Cloudeeva, Inc.

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

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

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

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

                           *     *     *

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

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

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

That Plan was withdrawn in February 2015.

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


CORINTHAN COLLEGES: Richards Layton Approved as Bankruptcy Counsel
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Corinthian Colleges, Inc., et al., to employ Richards, Layton &
Finger, P.A., as bankruptcy counsel, nunc pro tunc to the Petition
Date.

RL&F will render the following professional services:

   (a) advise the Debtors of their rights, powers and duties as
       debtors and debtors-in-possession under Chapter 11 of the
       Bankruptcy Code;

   (b) take action to protect and preserve the Debtors' estates,
       including the prosecution of actions on the Debtors'
       behalf, the defense of actions commenced against the
       Debtors in the Chapter 11 cases, the negotiation of
       disputes in which the Debtors are involved and the
       preparation of objections to claims filed against the
       Debtors;

   (c) assist in preparing on behalf of the Debtors all motions,
       applications, answers, orders, reports and papers in
       connection with the administration of the Debtors' estates;

   (d) assist the Debtors with the sale of any of their assets
       pursuant to Section 363 of the Bankruptcy Code;

   (e) assist in preparing the Debtors' plan of liquidation;

   (f) assist in preparing the Debtors' disclosure statement and
       any related documents and pleadings necessary to solicit
       votes on the Debtors' plan of liquidation;

   (g) prosecute on behalf of the Debtors the proposed plan and
       seeking approval of all transactions contemplated therein
       and in any amendments thereto; and

   (h) perform other necessary or desirable legal services in
       connection with the Chapter 11 cases.

RL&F's current hourly rates for matters related to the Chapter 11
cases are expected to be within the following ranges:

      Directors                   $585 to $825 an hour
      Counsel                             $525 an hour
      Associates                  $260 to $490 an hour
      Paraprofessionals                   $235 an hour

The principal professionals and paraprofessionals designated to
represent the Debtors and their current standard hourly rates are
as follows:

      Mark D. Collins             $825 per hour
      Michael J. Merchant         $650 per hour
      Marisa A. Terranova         $450 per hour
      Amanda R. Steele            $425 per hour
      Rachel L. Biblo             $260 per hour
      Alexander G. Najemy         $260 per hour
      Rebecca V. Speaker          $235 per hour

RL&F will charge the Debtors for necessary out-of-pocket expenses.

Prior to the Petition Date, the Debtors paid RL&F a total retainer
of $405,000 in connection with and in contemplation of the Chapter
11 cases.

Mark D. Collins, Esq., a director of the firm of Richards, Layton &
Finger, P.A., in Wilmington, Delaware, assures the Court that (a)
RL&F is a "disinterested person" under Section 101(14) of the
Bankruptcy Code; (b) RL&F does not hold or represent an interest
adverse to the Debtors' estates; and (c) RL&F's directors and
associates have no connection to the Debtors, their creditors or
their related parties.

                     About Corinthian Colleges

Corinthian Colleges, Inc., Pegasus Education, Inc., and 23
affiliated entities filed voluntary Chapter 11 petitions (Bankr. D.
Del. Lead Case No. 15-10952) on May 4, 2015.  The Chapter 11
petitions are being jointly administered under the caption In re:
Corinthian Colleges, Inc. et al., Case No. 15-10952 (KJC).  The
cases are assigned to Judge Kevin J. Carey.

Corinthian Colleges, Inc., was founded in February 1995, and
through acquisitions became one of the largest for-profit
post-secondary education companies in the United States and
Canada.

Corinthian Colleges, which in 2014 had more than 100 campuses all
over the U.S. and Canada, sought bankruptcy protection to complete
an orderly wind down of its operations.

The Debtors tapped Richards, Layton & Finger, P.A., as counsel; FTI
Consulting, Inc., as restructuring advisors; and Rust
Consulting/Omni Bankruptcy as claims and noticing agent.

Corinthian Colleges disclosed total assets of $19.2 million and
total liabilities of $143.1 million in its petition.

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



CORINTHIAN COLLEGES: Rust/Omni Approved as Administrative Agent
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Corinthian Colleges, Inc., et al., to employ Rust Consulting/OMNI
Bankruptcy as administrative agent.

Rust/Omni has agreed to perform, among other services, the
following:

   (a) assisting with the preparation and filing of the Debtors'
       schedules of assets and liabilities and statements of
       financial affairs;

   (b) recording all transfers of claims and provide any notices
       of such transfers as required by Bankruptcy Rule 3001(e);
       provided, however, that if any evidence of transfer of
       claim(s) is filed with the Court pursuant to Bankruptcy
       Rule 3001(e), and if the evidence of transfer or notice
       thereof executed by the parties purports to waive the 21
       day notice and objection period required under Bankruptcy
       Rule 3001(e), then the Administrative Agent may process the
       transfer of claim(s) to change the name and address of the
       claimant of such claim to reflect the transfer, and the
       effective date of such transfer will be the date the
       evidence of such transfer was docketed in the case;

   (c) generating and providing claim reports and claim objection
       exhibits;

   (d) managing the preparation, compilation and mailing of
       documents to creditors and other parties in interest in
       connection with the solicitation of a Chapter 11 plan;

   (e) managing any rights offering pursuant to a Plan;

   (f) managing the publication of legal notices;

   (g) collecting and tabulating votes in connection with any Plan
       filed by the Debtors and providing ballot reports to the
       Debtors and their professionals;

   (h) generating an official ballot certification and testifying,
       if necessary, in support of the ballot tabulation results;

   (i) managing any distributions made pursuant to a Plan; and

   (j) providing any and all necessary administrative tasks as the
       Debtors or its professionals may require in connection with
       these chapter 11 cases.

Prior to the Petition Date, the Debtors provided Rust/Omni a
retainer in the amount of $40,000.

Paul H. Deutch, the executive managing director of Rust/Omni,
assures the Court that Rust/Omni: (i) is a "disinterested person"
within the meaning of Section 101(14) of the Bankruptcy Code; (ii)
does not hold or represent an interest adverse to the Debtors'
estates in connection with any matter on which Rust/Omni will be
employed; and (iii) neither Rust/Omni nor any of its employees has
any connection with the Debtors, their creditors, the United States
Trustee or any other party in interest in these chapter 11 cases.

                    About Corinthian Colleges

Corinthian Colleges, Inc., Pegasus Education, Inc., and 23
affiliated entities filed voluntary Chapter 11 petitions (Bankr. D.
Del. Lead Case No. 15-10952) on May 4, 2015.  The Chapter 11
petitions are being jointly administered under the caption In re:
Corinthian Colleges, Inc. et al., Case No. 15-10952 (KJC).  The
cases are assigned to Judge Kevin J. Carey.

Corinthian Colleges, Inc., was founded in February 1995, and
through acquisitions became one of the largest for-profit
post-secondary education companies in the United States and
Canada.

Corinthian Colleges, which in 2014 had more than 100 campuses all
over the U.S. and Canada, sought bankruptcy protection to complete
an orderly wind down of its operations.

The Debtors tapped Richards, Layton & Finger, P.A., as counsel; FTI
Consulting, Inc., as restructuring advisors; and Rust
Consulting/Omni Bankruptcy as claims and noticing agent.

Corinthian Colleges disclosed total assets of $19.2 million and
total liabilities of $143.1 million in its petition.

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



CREATIVE CIRCLE: S&P Removes 'B' CCR From CreditWatch Positive
--------------------------------------------------------------
Standard & Poor's Ratings Services said that it removed its ratings
on Los Angeles-based Creative Circle LLC, including the 'B'
corporate credit rating, from CreditWatch, where S&P had placed
them with positive implications on May 13, 2015.  At the same time,
S&P withdrew the ratings at the company's request.  The company
repaid its outstanding debt when it was acquired by On Assignment
Inc. on June 5, 2015.


CTI BIOPHARMA: Amends License Agreement with Baxter
---------------------------------------------------
CTI BioPharma Corp. entered into a first amendment to the
Development, Commercialization and License Agreement, dated as of
Nov. 14, 2013, by and among CTI, Baxter International Inc., Baxter
Healthcare Corporation and Baxter Healthcare SA, according to a
document filed with the Securities and Exchange Commission.

Pursuant to the License Agreement, among other things, CTI granted
to Baxter a license with respect to pacritinib, Baxter and CTI
agreed to collaborate as to the development and commercialization
of pacritinib, and the Corporation obtained the contingent right to
receive certain milestone and royalty payments.  Baxalta
Incorporated, a wholly-owned subsidiary of Baxter International
Inc., and certain of its affiliates have been assigned Baxter's
rights and obligations under the License Agreement.

Pursuant to the Amendment, two milestone payments from Baxalta to
CTI were accelerated from the schedule contemplated by the License
Agreement.  CTI will, within three days of the Effective Date,
receive a total advance of $32 million from Baxalta relating to the
following two milestone payments under the License Agreement: (i)
the $12 million development milestone payment payable in connection
with the regulatory submission to the European Medicines Agency
with respect to pacritinib and (ii) a $20 million development
milestone payment payable for the first treatment dosing of the
last patient enrolled in PERSIST-2, the ongoing randomized Phase 3
trial evaluating pacritinib for patients with myelofibrosis whose
platelet counts are less than or equal to 100,000 per microliter.

Under the Amendment, each of the two milestone advances will bear
interest at an annual rate of 9% percent until the earlier of (i)
the date of first occurrence of the respective milestone and (ii)
the date that the respective advance plus accrued interest is
repaid in full.  In the event that pacritinib development is
terminated either because of a regulatory determination that the
benefit/risk profile of the drug candidate is unacceptable or due
to safety concerns or certain other reasons, including the failure
of pacritinib to meet certain criteria or certain endpoints, the
Corporation would be required to repay the respective advance to
Baxalta in eight quarterly installments beginning thirty days after
the end of the calendar quarter of the first occurrence of a
Milestone Failure and a final payment equal to the remainder of the
unpaid balance.  Further, if (i) the EMA Milestone is not achieved
prior to March 31, 2017 or (ii) the PERSIST-2 Milestone is not
achieved prior to Dec. 31, 2016, then the Corporation would also be
required to repay the respective advance pursuant to the Repayment
Terms.  Repayment of the advances will be accelerated in the event
of the commencement of insolvency proceedings, and certain other
events of default.  If a milestone is achieved, however, then CTI
would remain entitled to the respective advance.  In the event that
the Corporation does not spend a specified amount on the
development of pacritinib from the Effective Date through Feb. 29,
2016, payments to Baxalta in an amount equal to such deficiency may
be required or credited against amounts owed to the Corporation in
certain circumstances.

In the Amendment, in lieu of entering into a manufacturing and
supply agreement as contemplated by the License Agreement, the
Parties have also agreed to changes in the provisions of the
License Agreement regarding manufacturing and supply, including
that the Parties will each be allocated up to 50% of the
manufacturing (subject to certain conditions), with certain pricing
adjustments based on comparative costs of supply.

Baxalta beneficially owns approximately 8.7% of CTI's common stock
as of April 30, 2015, and Baxalta Incorporated or its affiliates
are parties to a registration rights agreement and other agreements
with CTI.

                        About CTI BioPharma

CTI BioPharma Corp. (NASDAQ and MTA: CTIC) --
http://www.ctibiopharma.com/-- formerly known as Cell
Therapeutics, Inc., is a biopharmaceutical company focused on
the acquisition, development and commercialization of novel
targeted therapies covering a spectrum of blood-related cancers
that offer a unique benefit to patients and healthcare providers.
The Company has a commercial presence in Europe and a late-stage
development pipeline, including pacritinib, CTI's lead product
candidate that is currently being studied in a Phase 3 program for
the treatment of patients with myelofibrosis.  CTI BioPharma is
headquartered in Seattle, Washington, with offices in London and
Milan under the name CTI Life Sciences Limited.

CTI Biopharma reported a net loss attributable to common
shareholders of $96 million in 2014, compared with a net loss
attributable to common shareholders of $49.6 million in 2013.

As of March 31, 2015, the Company had $63.1 million in total
assets, $48.7 million in total liabilities, $240,000 in common
stock purchase warrants, $14.1 million in total shareholders'
equity.


DAMES POINT: July 2 Hearing on UST Bid for Dismissal/Conversion
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida will
convene a preliminary hearing on July 2, 2015, at 3:00 p.m., to
consider U.S. Trustee's motion to dismiss or convert the Chapter 11
case of Dames Point Holdings, LLC, formerly known as B & B
Properties to one under Chapter 7 of the Bankruptcy Code.

                         About Dames Point

P&B Marina Development, LLC filed an involuntary Chapter 11 case
against Jacksonville, Florida-based Dames Point Holdings, LLC
(Bankr. M.D. Fla. Case No. 13-00501) on Jan. 29, 2013.  Scott A.
Underwood, Esq., at Fowler White Boggs, P.A. represented the
petitioners.

On March 12, 2013, the Court entered an order vacating the
Feb. 28, 2013 order for relief in involuntary Chapter 11 case.

The Court has consolidated the involuntary Chapter 11 case for all
purposes with the voluntary case of William F. Shafnacker.

Gust G. Sarris, Esq., represents the Debtor in its restructuring
effort.

The U.S. Trustee for Region 21 has informed the Bankruptcy Court
that until further notice, it will not appoint a committee of
creditors in the Chapter 11 case of Dames Point Holdings because
of an insufficient number of unsecured creditors willing or able
to serve on an unsecured creditors committee.



DEJOUR ENERGY: Reports C$1.17-Mil. Net Loss in Q1
-------------------------------------------------
Dejour Energy Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net loss
of C$1.17 million on C$1.28 million of total revenues for the three
months ended March 31, 2015, compared to a net loss of C$2.98
million on C$2.27 million of total revenues for the same period in
2014.

The Company's balance sheet at March 31, 2015, showed C$24.3
million in total assets, C$13.7 million in total liabilities and
total stockholders' equity of C$10.6 million.

The Company has a working capital deficiency of $5.5 million, which
includes a Credit Facility in DEAL of $1.9 million and a loan from
a related party of $2.0 million with repayment due in September
2015, and accumulated deficit of $99.2 million.  Excluding the
non-cash warrant liability of $0.3 million, the adjusted working
capital deficiency was $5.2 million.

On Nov. 24, 2014 and amended on March 16, 2015, the Company renewed
the Credit Facility with its Bank for a maximum of $2.2 million.
Monthly principal payments of $100,000 are due and payable on March
16, 2015 and commencing on the 28th of each month thereafter.  As
at March 31, 2015, DEAL was in default of its working capital ratio
covenant with a 0.53 to 1 ratio.  The Bank is currently conducting
its annual review of the Company's Canadian oil and gas reserves
for loan purposes.

The Company's ability to continue as a going concern is dependent
upon attaining profitable operations and obtaining sufficient
financing to meet obligations and continue exploration and
development activities.  There is no assurance that these
activities will be successful.  These material uncertainties cast
substantial doubt upon the Company's ability to continue as a going
concern.  

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

                       http://is.gd/wo0VtT
                          
                          About Dejour

Dejour Energy Inc. is an independent oil and natural gas
exploration and production company operating projects in North
America's Piceance Basin (approximately 80,000 net acres) and
Peace River Arch regions (approximately 7,500 net acres).
Dejour's seasoned management team has consistently been among
early identifiers of premium energy assets, repeatedly timing
investments and transactions to realize their value to
shareholders' best advantage.  Dejour maintains offices in Denver,
USA, Calgary and Vancouver, Canada.  The company is publicly
traded on the New York Stock Exchange MKT (nyse mkt:DEJ) and
Toronto Stock Exchange CA:DEJ 0.


DELTEK INC: S&P Affirms 'B' Corp. Credit Rating, Outlook Stable
---------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B'
corporate credit rating on Herndon, Va.-based Deltek Inc.  The
outlook is stable.

At the same time, S&P assigned its 'B' issue-level rating and '3'
recovery rating to the company's proposed $840 million senior
secured notes due 2022, and S&P's 'CCC+' issue-level rating and '6'
recovery rating to the company's $350 million second-lien debt.
The '3' recovery rating indicates S&P's expectation for meaningful
(50%-70%; in the lower half of the range) recovery in the event of
payment default, and the '6' recovery rating indicates S&P's
expectation for negligible (0%-10%) recovery in the event of
payment default.

S&P expects that Deltek will use the proceeds from the transaction
to refinance its current senior notes due 2018 and 2019, and to pay
a dividend to current shareholders, and pay related transaction
fees.  S&P will withdraw its ratings on the refinanced notes after
the transaction closes.

"Our rating affirmation is based on Deltek's solid position in
niche markets and a meaningful recurring revenue base," said
Standard & Poor's credit analyst Sylvester Malapas.

The stable outlook reflects S&P's expectation that the company's
solid recurring revenue base and disciplined cost management will
support consistent profitability and free operating cash flow.



DENDREON CORP: $98,000 in Claims Switched Hands Feb. to April
-------------------------------------------------------------
In the Chapter 11 cases of Dendreon Corp., et al., eight claims
switched hands between Feb. 20, 2015, and April 21, 2015:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Bowery Opportunity Fund, L.P.   Labware Inc          $24,966.42

Fair Harbor Capital, LLC        Health Policy         $2,428.20
                                Strategies Inc.

Claims Recovery Group LLC       Aragen Bioscience,    $4,650.00
                                Inc

Claims Recovery Group LLC       Energy Systems        $9,233.00
                                Southeast, Llc

Claims Recovery Group LLC       Flw Of Pa, Inc.       $5,181.95

DACA VI, LLC                    Doogan Inc            $1,344.00

Liquidity Solutions, Inc.       Indiana University   $28,585.00

Sierra Liquidity Fund, LLC      Georgia Natural Gas  $21,518.14

                         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.

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.


DOMINION PAVING: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Dominion Paving & Sealing, Inc.
        10900 Paulbrook Boulevard
        Midlothian, VA 23112-3374

Case No.: 15-32966

Chapter 11 Petition Date: June 10, 2015

Court: United States Bankruptcy Court
       Eastern District of Virginia (Richmond)

Judge: Hon. Keith L. Phillips

Debtor's Counsel: Christian K. Vogel, Esq.
                  LECLAIRRYAN, A PROFESSIONAL CORPORATION
                  951 East Byrd Street, 8th Floor
                  Richmond, VA 23219
                  Tel: 804-916-7198
                  Fax: 804-916-7298
                  Email: Christian.Vogel@leclairryan.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: unknown

The petition was signed by Stephen H. Parham, president.

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


EL PASO CHILDREN'S HOSPITAL: Texas Attorney Gen. Supports Mediation
-------------------------------------------------------------------
The Office of the Texas Attorney General supports debtor El Paso
Children's Hospital Corporation's motion to compel nonbinding
mediation with the University Medical Center of El Paso.

The Office of the Texas Attorney General requests that a
representative of the Texas Attorney General, or its client
agencies, be allowed to attend any mediation as an observer; and
suggests that retired U.S. Bankruptcy Judge Leif M. Clark continue
to serve as mediator in the case given his intimate familiarity
with the facts of the case from presiding over a previous full-day
mediation in the matter and his extensive experience in handling
complex bankruptcy issues.  

As reported in the Troubled Company Reporter on May 26, 2015, the
Debtor operates its 122-bed children's hospital at the campus of
UMC pursuant to various agreements.  The Debtor claims that the
agreements are lopsided.  UMC sought to terminate the agreements
amid mounting payables by the Debtor.  As of Sept. 30, 2014, UMC
asserted that it was owed in excess of $81 million from the Debtor.
The Debtor, which is in financial distress, claims it only owes a
fraction of the amount claimed by UMC.

Taking into consideration the prior two mediations in which the
parties have previously participated, as well as their informal
negotiations prior to the Petition Date, the Debtor believes that
the mediation requested herein is more likely to be successful and
efficient under certain parameters:

   * First, the Debtor believes that the issues between UMC and the
Debtor implicate bankruptcy law in such a crucial way that a
sitting (or former) Bankruptcy Judge is the most appropriate and
qualified person to serve as the Mediator.  The Debtor believes
that the ability of a neutral to evaluate the issues between UMC
and the Debtor could be a powerful catalyst for resolution,
particularly if the mediator is a bankruptcy judge.  Accordingly,
the Debtor requests that the Court appoint a sitting (or former)
bankruptcy judge to serve as the mediator.

   * In this vein, the Debtor also proposes that for this mediation
that only one representative (with authority to resolve the
dispute) from each of the Debtor and UMC, along with their counsel,
attend the mediation.

   * The Debtor also proposes that the parties be required to
mediate by a date certain in the immediate future.

   * Further, if an agreement is reached that is subject to
approval by
the El Paso Commissioner's Court, the Debtor requests that the
agreement be binding upon the Debtor and UMC, and the parties then
submit the agreement to the Commissioner's Court, with the parties
then having no ability, right, or opportunity to revise or
terminate the agreement reached at the mediation.

The Debtor believes such parameters are necessary given that it
must administer its bankruptcy case as efficiently as possible, and
given the history of the parties' mediations, are most likely to
result in a final agreement.

                 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, following disputes
with UMC.  The case is assigned to Judge H. Christopher Mott.

The Debtor tapped Jackson Walker LLP as counsel.

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



ELBIT IMAGING: Shareholders Exercise Right to Withdraw From BUTU
----------------------------------------------------------------
Elbit Imaging Ltd. announced that, shareholders holding 21.48% of
Bucuresti Turism S.A., exercised their right to withdraw from BUTU.
The total amount payable by BUTU for those withdrawal requests is
approximately Euro 13.9 million (approximately USD 15.5 million).
An amount of Euro 2 million was financed by BUTU from its own
resources and the remainder in the amount of approximately Euro
11.9 million was financed by the Company through shareholder loan
granted to BUTU.

Upon the completion of the delisting, all the shares acquired by
BUTU during the delisting process will be cancelled and the share
capital of BUTU will be decreased accordingly.  Following the share
capital decrease, the Company will hold (indirectly) approximately
98% of BUTU's share capital.

Following the expiry of the withdrawing term and following the
payment of the aforesaid amount to the withdrawing shareholders,
BUTU will be delisted from RASDAQ market upon the approval of the
Financial Supervisory Authority in Romania.

Mr. Ron Hadassi, Chairman of the Board of Directors, commented:
"The completion of the takeover by the Company over the "Radisson
Blu" Hotel in Bucharest is part of the Company's strategic plan to
invest in the high-quality assets of the Company in order to
maximize their potential.  The Company believes that the Hotel has
a significant future betterment potential, in view of the
improvement in the Hotel's business results in recent years as well
as the improvement in the macroeconomic environment in Romania."

Mr. Doron Moshe, acting CEO and chief financial officer further
added, "The purchase of the minority interest and the delisting of
BUTU will allow the Company greater flexibility in the management
and operation of the Hotel and in the management and use of the
Hotel's free cash flow.  For that purpose, the Company invested
approximately Euro 11.9 million through a shareholder loan granted
to BUTU."

Simultaneously to the minority interest purchase proceeding, and as
part of the Company's strategy to improve the real estate value of
the Hotel, the Company has launched an extensive renovation process
at the Hotel and the conversion of approx. 160 rooms into
apartments to be operated under the Park Inn brand.  The estimated
cost of the renovation is approx. Euro 6 million, and will be
financed by the Hotel's own resources.

            About "Radisson Blu" in Bucharest, Romania

The hotel was opened in September 2008 and is located in the center
of Bucharest and since then constituted a significant part of the
exclusive hotels market in Bucharest.  The hotel consists of 719
rooms and it is managed by Rezidor.  The hotel also  includes
approximately 7,200 square meters of commercial areas including
World Class Fitness Center, Platinum Casino and  commercial area of
fashion, jewelry, gifts, antiques and beauty shops.

                       About Elbit Imaging

Tel-Aviv, Israel-based Elbit Imaging Ltd. (TASE, NASDAQ: EMITF)
hold investments in real estate and medical companies.  The
Company, through its subsidiaries, also develops shopping and
entertainment centers in Central Europe and invests in and manages
hotels.

Since February 2013, Elbit has intensively endeavored to come to
an arrangement with its creditors.  Elbit has said it has been
hanging by a thread for more than five months.  It has encountered
cash flow difficulties and this burdens its day to day activities,
and it certainly cannot make the necessary investments to improve
its assets.  In light of the arrangement proceedings, and
according to the demands of most of the bondholders, as well as an
agreement that was signed on March 19, 2013, between Elbit and the
Trustees of six out of eight series of bonds, Elbit is prohibited,
inter alia, from paying off its debts to the financial creditors
-- and as a result a petition to liquidate Elbit was filed, and
Bank Hapoalim has declared its debts immediately payable,
threatening to realize pledges that were given to the Bank on
material assets of the Company -- and Elbit undertook not to sell
material assets of the Company and not to perform any transaction
that is not during its ordinary course of business without giving
an advance notice to the trustees.

Accountant Rony Elroy has been appointed as expert for examining
the debt arrangement in the Company.

In July 2013, Elbit Imaging's controlling shareholders, Europe-
Israel MMS Ltd. and Mr. Mordechay Zisser, notified the Company
that the Tel Aviv District Court has appointed Adv. Giroa Erdinast
as a receiver with regards to the ordinary shares of the Company
held by Europe Israel securing Europe Israel's obligations under
its loan agreement with Bank Hapoalim B.M.  The judgment stated
that the Receiver is not authorized to sell the Company's shares
at this stage.  Following a request of Europe-Israel, the Court
also delayed any action to be taken with regards to the sale of
those shares for a period of 60 days.  Europe Israel and
Mr. Zisser have also notified the Company that they utterly reject
the Bank's claims and intend to appeal the Court's ruling.


ELITE PHARMACEUTICALS: Signs Licensing Agreement with Epic
----------------------------------------------------------
Elite Pharmaceuticals, Inc., has entered into a sales and
distribution licensing agreement with Epic Pharma LLC for ELI-200,
an abuse-deterrent opioid utilizing Elite's proprietary
pharmacological abuse-deterrent technology.  Epic will be
responsible for sales and marketing of ELI-200, and Elite will be
responsible for the manufacture of the product.  Epic will pay
Elite non-refundable milestone payments totaling $15 million and a
royalty based on net product sales.  The term of the License is
five years and the License is renewable upon mutual agreement at
the end of the initial term.

Elite also announced the dosing of the first subjects for an
ELI-200 Phase III clinical study.  This Phase III study is a
multi-center, randomized, multiple-dose, blinded,
placebo-controlled, parallel group, study to evaluate the efficacy
and safety of abuse deterrent ELI-200 for the treatment of adults
with moderate to severe pain following surgery.  The study will
enroll approximately 165 patients at five clinical sites.

"Epic is pleased to have an opportunity to market this important
new product and to add to our current pipeline of opioid products
that includes a pending application for an abuse-deterrent
oxycodone HCl extended release product," said Dr. Ashok Nigalaye,
chief executive officer of Epic.  "ELI-200 will allow Epic to
extend its reach in the anti-abuse pain space, and to position both
companies for long-term growth."

"I am delighted to have a partner like Epic for Elite's first
abuse-deterrent product," said Nasrat Hakim, president and chief
executive officer of Elite Pharmaceuticals.  "We will work closely
with Epic to prepare for and ensure a successful launch.  The
ELI-200 Phase III study is expected to be wrapped up later this
year and we expect an NDA filing for ELI-200 by year's end."

                   About Elite Pharmaceuticals

Northvale, New Jersey-based Elite Pharmaceuticals, Inc., is a
specialty pharmaceutical company principally engaged in the
development and manufacture of oral, controlled-release products,
using proprietary technology and the development and manufacture
of generic pharmaceuticals.  The Company has one product,
Phentermine 37.5mg tablets, currently being sold commercially.

Elite Pharmaceuticals disclosed a net loss attributable to common
shareholders of $96.6 million on $4.60 million of total revenues
for the year ended March 31, 2014, as compared with net income
attributable to common shareholders of $1.48 million on $3.40
million of total revenues for the year ended March 31, 2013.

As of Dec. 31, 2014, Elite Pharmaceuticals had $25.7 million in
total assets, $56.2 million in total liabilities and a $30.53
million total stockholders' deficit.


ENERGY FUTURE: Harris Industries Sells $1.4K Claim to Sonar Credit
------------------------------------------------------------------
In the Chapter 11 cases of Energy Future Holdings Corp., et al.,
one claim switched hands on April 16, 2015:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Sonar Credit Partners       Harris Industries Inc     $1,400.23
III, LLC

                        About Energy Future

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

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

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

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

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

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

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

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

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


ENERGY FUTURE: July 13 Hearing to Determine Oncor Leading Bidder
----------------------------------------------------------------
James Osborne at The Dallas Morning News reports that a hearing to
determine the leading bidder for Energy Future Holdings Corp.'s
power line company Oncor is scheduled for July 13, 2015.

NextEra Energy, Bloomberg News relates, has submitted the leading
bid in an auction process that is expected to reap the Company $18
billion.  The Dallas Morning News says that the deal still awaits
approval by Company's board of directors.

According to The Dallas Morning News, rival bids are expected from
Dallas billionaire Ray L. Hunt, chairman of Hunt Consolidated who
was poised to take over Oncor in 2014 through a deal with the
Company's creditors until NextEra offered more money.  The report
adds that Warren Buffet's Berkshire Hathaway and Houston utility
CenterPoint could also be possible bidders.

The Company said in court filings earlier this year that it
expected the Oncor sale to be completed by August.

                        About Energy Future

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

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

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

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

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

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

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

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

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


ESPERANZA INN: Case Summary & 5 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Esperanza Inn, Corp.
        103 Calle Hucar
        Bo. Esperanza
        Vieques, PR 00765

Case No.: 15-04411

Chapter 11 Petition Date: June 10, 2015

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Jaime L Velasco Bonilla, II, Esq.
                  PO Box 9023336
                  San Juan, PR 00902-3336
                  Tel: (787) 562-0837
                  Email: Velascolaw@hotmail.com

Total Assets: $566,555

Total Liabilities: $1.2 million

The petition was signed by Lisa Ferguson, president.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/prb15-04411.pdf


EXPERIENCE INC: Point Park to Disable Career Network Website
------------------------------------------------------------
Justine Coyne at Pittsburgh Business Times reports that Point Park
University will disable its career network website on June 30,
2015.  Business Times quoted Angela Scaramucci, coordinator of
employee relations as Point Park University's Career Development
Center, as saying, "The company that hosts the site (Experience)
has filed for bankruptcy, which has forced us to pursue another
software company."

Boston, Massachusetts-based Experience Inc. is a wholly-owned
subsidiary of ConnectEDU.com.  It filed for Chapter 11 bankruptcy
protection (Bankr. S.D.N.Y. Case No. 14-11240) on April 28, 2014,
estimating its assets and liabilities at between $1 million and $10
million each.  The petition was signed by Mark Podgainy, chief
restructuring officer.

Wojciech F Jung, Esq., and Sharon L. Levine, Esq., at Lowenstein
Sandler LLP serve as the Company's bankruptcy counsel.

Judge Shelley C. Chapman presides over the case.


FINJAN HOLDINGS: June Markman Hearing Set for Proofpoint, Symantec
------------------------------------------------------------------
Finjan Holdings, Inc., released an update on its subsidiary Finjan,
Inc.'s lawsuits against Proofpoint, Inc. and Symantec Corporation.
Both cases are pending in the Northern District of California and
have Markman Hearings scheduled in June.

Finjan filed a patent infringement lawsuit against Proofpoint on
Dec. 16, 2013 (3:13-cv-05808-HSG (CAND)).  The Proofpoint matter is
before the Honorable Haywood S. Gilliam of the U.S. District Court
for the Northern District of California.  Finjan asserts that
Proofpoint is infringing eight of its U.S. Patent Nos.: 6,154,844;
7,058,822; 7,613,918; 7,647,633; 7,975,305; 8,079,086; 8,141,154;
and 8,225,408, which cover Endpoint and Network Security
technologies.  The Proofpoint Claim Construction or "Markman"
Hearing is set for June 24, 2015, at 10 a.m. (PT).

Separately, Finjan filed a patent infringement lawsuit against
Symantec on July 1, 2014 (3:14-cv-02998-HSG (CAND)) which is also
before Judge Gilliam.  Finjan asserts that Symantec is infringing
eight of its US Patent Nos.: 6,154,844; 7,613,926; 7,756,996;
7,757,289; 7,930,299; 8,015,182; 8,141,154; and 8,677,494, which
cover Network Security, Search Engine, and Endpoint technologies.
The Symantec Markman Hearing is set for June 29, 2015, at 1 p.m.
(PT).

The Markman hearing is an important pre-trial event in a patent
lawsuit, wherein the Court will interpret certain disputed claim
terms (aka claim elements) in the asserted Finjan patent claims,
after consideration of the parties' evidence.  As previously
reported in its suits against Blue Coat Systems and Sophos Ltd.,
Finjan has received favorable claim constructions in support of
their infringement assertions in those matters.

"Consistent with our Best Practices, we will continue to present
our patent infringement claims credibly and convincingly to
establish their merits for the Court," said Julie Mar-Spinola,
chief IP officer and VP, legal operations.  Finjan established a
set of Licensing Best Practices in 2014 to outline the principles
by which it operates and to call upon the intellectual property
industry to adopt practices that foster and support technological
advancements, investments in innovation, and job creation.

In addition to its patent infringement suits against Proofpoint,
Symantec, Blue Coat Systems, and Sophos, Finjan has also filed
patent infringement lawsuits against FireEye, Inc. and Palo Alto
Networks, Inc. relating to various patents in the Finjan portfolio.
The Company will provide timely updates of important events
relating to these matters on an ongoing basis.

                            About Finjan

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

Finjan reported a net loss of $10.47 million on $4.99 million of
revenues for the year ended Dec. 31, 2014, compared to a net loss
of $6.07 million on $0 of revenues in 2013.

As of March 31, 2015, the Company had $16.5 million in total
assets, $2.19 million in total liabilities, and $14.3 million in
total stockholders' equity.


FLEXPOINT SENSOR: Reports $479K Net Loss in First Quarter
---------------------------------------------------------
Flexpoint Sensor Systems, Inc., filed its quarterly report on Form
10-Q, disclosing a net loss of $479,000 on $32,000 of revenue for
the three months ended March 31, 2015, compared with a net loss of
$245,000 on $53,400 of revenue for the same period in the prior
year.

The Company's balance sheet at March 31, 2015, showed $5.26 million
in total assets, $772,000 in total liabilities, and stockholders'
equity of $4.49 million.

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

                         http://is.gd/xXMkWz

                  About Flexpoint Sensor Systems

Flexpoint Sensor Systems, Inc., has developed and patented the Bend
Sensor technology. The Bend Sensor is a technological breakthrough
that offers a superior solution for applications that require
accurate measurement and sensing of deflection, acceleration and
range of motion. Global market opportunities include automotive,
medical, industrial controls, government, health and fitness,
security, computer, aerospace, transportation and consumer
products.

Flexpoint Sensor Systems, Inc., reported a net loss of $979,000 on
$270,000 of engineering, contract and testing revenue for the year
ended Dec. 31, 2014, compared to a net loss of $960,000 on $101,000
of engineering, contract and testing revenue in 2013.

Sadler, Gibb & Associates, LLC, expressed substantial doubt about
the Company's ability to continue as a going concern, citing that
the Company has an accumulated deficit of $21.4 million as of Dec.
31, 2014.



FOUR OAKS: Names David Rupp as New Chief Executive Officer
----------------------------------------------------------
Four Oaks Fincorp, Inc., the holding company for Four Oaks Bank &
Trust Company, announced that on June 8, 2015, the Board of
Directors of the Company approved a management transition plan
whereby (i) David H. Rupp, the Company's current president, chief
operating officer and member of the Board, will become chief
executive officer of the Company and the Bank and (ii) Ayden R.
Lee, Jr., who has been serving as the chief executive officer of
the Company and the Bank, will become the executive chairman of the
Company.

As Executive Chairman, Mr. Lee will provide, among other things,
strategic, governance, shareholder relations, and risk management
support and oversight to the Company, its executive team and the
Board.  Mr. Lee will also continue in his role as Chairman of the
Board.  Upon being appointed as chief executive officer, Mr. Rupp
will no longer serve as the chief operating officer of the Company
but will continue serving as the president and a member of the
Board.  The Transition Plan is targeted to become effective on or
about June 30, 2015, and is subject to approval by the Federal
Reserve Bank of Richmond.

Mr. Rupp has been serving as the Company's president and chief
operating officer since March 2015, after serving as executive vice
president and chief operating officer since October 2014 and senior
vice president, Strategic Project Manager since June 2014. He was
also appointed to the Board on March 23, 2015.  Prior to joining
the Bank, he most recently served as Retail Banking and Mortgage
President of VantageSouth Bank from 2012 to 2014. From 2009 to
2011, Mr. Rupp served as chief executive officer of Greystone Bank
and, from 2008 to 2009, he served as Senior executive vice
president of Regions Financial Corporation.  Prior to his
employment with Regions Financial Corporation, Mr. Rupp held
various positions at Bank of America and First Union Corporation.

"It has been my great honor to serve as the Company's CEO since
1980; and to have been surrounded by an outstanding board and team
of community bankers for the entire period.  The Company and Bank
are now at a good place and it is an appropriate time for me to
step down.  David Rupp is an outstanding leader and I am both
pleased and excited to transition the CEO reins to him.  Please
join me in both welcoming and supporting David as he leads the
Company forward," said Mr. Lee.

                          About Four Oaks

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

Four Oaks Fincorp reported a net loss of $4.18 million in 2014, a
net loss of $350,000 in 2013, a net loss of $6.96 million in 2012
and a net loss of $9.09 million in 2011.  As of Dec. 31, 2014, the
Company had $821 million in total assets, $780 million in total
liabilities and $40.7 million in total shareholders' equity.

As of March 31, 2015, Four Oaks had $767 million in total assets,
$725 million in total liabilities and $42.4 million in total
shareholders' equity.

                         Written Agreement

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

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

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

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

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


FREDERICK'S OF HOLLYWOOD: Bayard Okayed as Committee Co-Counsel
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
the Official Committee of Unsecured Creditors in the Chapter 11
cases of Frederick's of Hollywood, Inc., et al., to retain Bayard,
P.A. as its co-counsel, nunc pro tunc to April 28, 2015.

Mr. Alberto, an associate at Bayard, which maintains offices for
the practice of law at 222 Delaware Avenue, Suite 900, Wilmington,
Delaware, tells the Court that all Bayard professionals will
invoice at a 10% discount from their standard hourly rates.  Bayard
has further advised the Committee that its ordinary hourly rates
range from $500 to $950 per hour for directors, from $350 to $450
per hour for associates, and from $240 to $295 per hour for
paraprofessionals.

The primary attorney and paralegal expected to represent the
Committee, and their discounted hourly rates are:

         Justin R. Alberto                $405
         Larry Morton, paralegal          $265

Other attorneys and paralegals will render services to the
Committee as needed.

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

                         About Frederick's

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

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

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

The Company disclosed, in its schedules, $131,346,087 in assets and
$118,036,690 in liabilities as of the Chapter 11 filing.

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

Andrew R. Vara, Acting U.S. Trustee for Region 3, notified the
U.S. Bankruptcy Court in Delaware that he has appointed seven
members to the Official Committee of Unsecured Creditors.  Cooley
LLP serves as lead counsel; Bayard, P.A. as its co-counsel; and
BDO USA LLP as its financial advisor.



FREDERICK'S OF HOLLYWOOD: BDO Okayed as Committee Advisor
---------------------------------------------------------
The Hon. Kevin Gross of the U.S. Bankruptcy Court for the District
of Delaware authorized the Official Committee of Unsecured
Creditors in the Chapter 11 cases of Frederick's of Hollywood,
Inc., et al., to retain BDO Consulting, a division of BDO USA, LLP
as its financial advisor, nunc pro tunc to April 30, 2015.

BDO is expected to, among other things:

   a) analyze the financial operations of the Debtors pre- and
post-petition, as necessary;

   b) analyze the financial ramifications of any proposed
transactions for which the Debtors seek Bankruptcy Court approval
including, but not limited to, postpetition financing, any sale(s)
of all or a portion of the Debtors' assets, and the retention of
management or employee incentive and severance plans; and

   c) conduct any requested financial analyses including verifying
the material assets and liabilities of the Debtors, as necessary,
and their values.

David E. Berliner, a Certified Public Accountant, licensed under
the laws of the State of New York, a Certified Insolvency and
Restructuring Advisor (CIRA), a Certified Turnaround Professional
(CTP), and a partner in the firm of BDO Consulting, told the Court
that the hourly rates of BDO's personnel are:

         Partners/Managing Directors       $475 - $795
         Directors/Senior Managers         $375 - $550
         Managers/Vice Presidents          $325 - $460
         Seniors/Analysts                  $200 - $350
         Staff                             $150 - $225

Mr. Berliner noted that at the Committee's request, BDO has agreed
to these discounts from its standard hourly billing rates: partners
(20%), managing directors (15%), and all other professionals (10%).


BDO customarily charges its clients for reasonable out-of-pocket
costs and expenses incurred by BDO in connection with the
assignment.

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

                         About Frederick's

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

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

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

The Company disclosed, in its schedules, $131,346,087 in assets and
$118,036,690 in liabilities as of the Chapter 11 filing.

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

Andrew R. Vara, Acting U.S. Trustee for Region 3, notified the
U.S. Bankruptcy Court in Delaware that he has appointed seven
members to the Official Committee of Unsecured Creditors.  Cooley
LLP serves as lead counsel; Bayard, P.A. as its co-counsel; and
BDO USA LLP as its financial advisor.



FREDERICK'S OF HOLLYWOOD: Cooley Okayed as Committee Lead Counsel
-----------------------------------------------------------------
The Hon. Kevin Gross of the U.S. Bankruptcy Court for the District
of Delaware authorized The Official Committee of Unsecured
Creditors in the Chapter 11 cases of Frederick's of Hollywood,
Inc., et al., to retain Cooley as its lead counsel, nunc pro tunc
to April 28, 2015.

The hourly rates of the Cooley professionals anticipated to be
primarily staffed on the matter are:

    Professional                    Standard Rate  Adjusted Rate
    ------------                    -------------  -------------   
           
Lawrence C. Gottlieb, partner          $1,055           $844
Cathy Hershcopf, partner                 $950           $760
Jeffrey L. Cohen, partner                $785           $628
Seth Van Aalten, associate               $755           $604
Robert B. Winning, associate             $655           $524
Jeremy Rothstein, associate              $470           $376
Rebecca Goldstein, paralegal             $300           $300
Mollie Canby, paralegal                  $210           $210

To the best of the Committee's knowledge, Cooley represents no
interest adverse to the Committee, the Debtors, their estates, or
any other party-in-interest.

                         About Frederick's

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

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

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

The Company disclosed, in its schedules, $131,346,087 in assets and
$118,036,690 in liabilities as of the Chapter 11 filing.

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

Andrew R. Vara, Acting U.S. Trustee for Region 3, notified the
U.S. Bankruptcy Court in Delaware that he has appointed seven
members to the Official Committee of Unsecured Creditors.  Cooley
LLP serves as lead counsel; Bayard, P.A. as its co-counsel; and
BDO USA LLP as its financial advisor.


FREDERICK'S OF HOLLYWOOD: Court Issues 3rd Interim DIP Order
------------------------------------------------------------
Judge Kevin Gross on June 3, 2015, entered a third interim order
authorizing Frederick's of Hollywood Inc., et al., to access DIP
financing and use cash collateral.  The order provides that the
Debtors are authorized to borrow under the DIP Creditor Facility on
an interim basis in an amount not to exceed $8 million.  The order
also provides that the Debtors are authorized to use cash
collateral to make payments on the Debtors' prepetition
obligations, provided that the payments will not exceed $3
million.

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

   http://bankrupt.com/misc/Fred_Holl_3rd_Interim_Ord.pdf

A final hearing on the Debtors' request to access DIP financing is
scheduled for June 16, 2015.

                        DIP Financing Motion

As previously reported by The Troubled Company Reporter, Salus CLO
2012-1, Ltd, as lender, and Salus Capital Partners, LLC, as
administrative agent and collateral agent, have agreed to provide
the Debtors are revolving credit facility in the maximum committed
amount of $11 million.

The DIP Facility will mature 6 months from the execution of the DIP
Credit Agreement.  The DIP Facility will bear interest at the LIBOR
Rate plus 15.5%.  The DIP Agent will charge an unused line of
credit fee, and collateral monitoring fees.  The DIP Credit
Agreement contains usual and customary events of default.

The Debtors owe the aggregate principal amount of $32,988,000
pursuant to prepetition funded debt provided by lenders and SCP, as
administrative agent and collateral agent.

                         About Frederick's

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

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

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

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

Andrew R. Vara, Acting U.S. Trustee for Region 3, notified the
U.S. Bankruptcy Court in Delaware that he has appointed seven
members to the Official Committee of Unsecured Creditors in the
Chapter 11 cases of Frederick's of Hollywood, Inc., and its debtor
affiliates.


FREDERICK'S OF HOLLYWOOD: Seeks General Release for Salus
---------------------------------------------------------
Frederick's of Hollywood Inc., et al., at a hearing on June 16,
2015, are slated to seek final approval of their request to obtain
DIP financing fr0m Salus CLO 2012-1, Ltd, as lender, and Salus
Capital Partners, LLC, as administrative agent and collateral
agent.  The Debtors have filed a motion asking the Court to include
in the Final DIP Order, among other things, these terms:

  (a) a general release of the DIP Agent, DIP Lenders, the
Prepetition Agent, the Prepetition Lenders excluding FSR as
Prepetition Agent, a Prepetition Lender, or a participant in the
Debtors' obligations under the Prepetition Credit Agreement or
otherwise (collectively, the "Salus Secured Parties") and
Salus Capital Partners, LLC, and Salus CLO 2012-1, Ltd
(collectively, with the Salus Secured Parties, the "Salus
Parties"), each in all capacities as of the entry of the Final
Order, and

  (b) termination of the challenge period as to the Salus Parties.

On April 20, 2015, the Debtors filed with the Court the Original
DIP Financing Motion.  Following a first day hearing to consider
the relief requested in the Original DIP Financing Motion on an
interim basis, on April 21, 2015, the Court entered an interim
order approving the Original DIP Financing Motion to the extent set
forth therein.  On May 18, 2015, the Court entered a second interim
order approving the Original DIP Financing Motion to the extent set
forth therein.  On June 3, 2015, the Court entered a third interim
order approving the Original DIP Financing Motion to the extent set
forth therein.  Each of the Interim Order, Second Interim Order,
and Third Interim Order provided that Challenges could be brought
by no later than 60 days after the date of its formation with
respect to the Committee, and 75 days from the date of entry of the
Interim Order for all other parties-in-interest; provided, however,
that if, prior to the Challenge Deadline, the cases convert to
cases under Chapter 7 or if a Chapter 11 trustee is appointed, the
Challenge Deadline would have been extended to 45 days after such
appointment.  The entry of the Final Order will terminate the
Challenge Period as to the Salus Parties.

Counsel to the Debtors, Joseph C. Barsalona II, Esq., at Richards,
Layton & Finger, PA, explains that since the Petition Date, the
Debtors, the DIP Agent, DIP Lenders, the Prepetition Agent, the
Prepetition Lenders, FSR, the HGI Entities and, after their
appointment, the Committee, have engaged in negotiations that would
allow for a consensual resolution of the chapter 11 cases and the
filing of a plan of liquidation.  

As part of the Settlement, the parties have agreed that, upon the
closing of the sale of substantially all of the Debtors' assets,
all liens securing the DIP Obligations and the Prepetition
Obligations shall be transferred to the proceeds of such sale, and
such proceeds shall be applied at the closing of the sale to
permanently and indefeasibly repay the DIP Obligations and the
Prepetition Obligations related to the Line of Credit (other than
those participated to the Term Lender), as applicable, in full, in
cash (the "Salus Payoff").  In addition, as part of the Settlement,
the Debtors have agreed to fund a Payoff Reserve to cover any fees
and expenses owing to the DIP Agent, DIP Lenders, Prepetition Agent
or Prepetition Lenders that are required to be paid after the
closing of the sale.

Upon the Salus Payoff and the funding of the Payoff Reserve, the
Settlement contemplates that all Obligations to the Salus Secured
Parties will be permanently and indefeasibly repaid in full, in
cash.  As a result, the Salus Secured Parties will no longer have
interest in the Cash Collateral or liens against the Debtors'
assets or property and the Debtors will be free to use Cash
Collateral and otherwise conduct the chapter 11 cases without the
consent of any of the Salus Secured Parties and without
establishing a reserve to cover any further Obligations.

In order to ensure that the Salus Secured Parties are, in fact,
permanently and indefeasibly repaid in full, in cash, as of the
closing of the sale (i.e., to ensure that such cash cannot be
clawed back at a later date), the Salus Secured Parties have
required, as part of the Settlement, a General Release upon entry
of the Final Order.

Mr. Barsalona avers that in the absence of such General Releases
being granted, the Salus Secured Parties may not consent to further
use of Cash Collateral or may require a substantial reserve to be
held back from the Cash Collateral to protect them from a
Challenge.  The Debtors could contest the right of the Salus
Secured Parties to withhold consent or require a significant
reserve, but such a contest would likely result in significant
expense and delay for the Debtors. Moreover, the Committee has
investigated potential claims and causes of action against the
Prepetition Lenders and has determined to resolve such potential
claims and causes of action in exchange for the consideration
embodied in the Settlement.

                        DIP Financing Motion

As previously reported by The Troubled Company Reporter, Salus CLO
2012-1, Ltd, as lender, and Salus Capital Partners, LLC, as
administrative agent and collateral agent, have agreed to provide
the Debtors are revolving credit facility in the maximum committed
amount of $11 million.

The DIP Facility will mature 6 months from the execution of the DIP
Credit Agreement.  The DIP Facility will bear interest at the LIBOR
Rate plus 15.5%.  The DIP Agent will charge an unused line of
credit fee, and collateral monitoring fees.  The DIP Credit
Agreement contains usual and customary events of default.

The Debtors owe the aggregate principal amount of $32,988,000
pursuant to prepetition funded debt provided by lenders and SCP, as
administrative agent and collateral agent.

                         About Frederick's

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

Frederick's of Hollywood and five affiliates each filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 15-10836) on April 19, 2015.  The
cases are before the Honorable Kevin Gross.

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

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

Andrew R. Vara, Acting U.S. Trustee for Region 3, notified the
U.S. Bankruptcy Court in Delaware that he has appointed seven
members to the Official Committee of Unsecured Creditors in the
Chapter 11 cases of Frederick's of Hollywood, Inc., and its debtor
affiliates.


FURNITURE BRANDS: Liquidating Trustee Has Settlement Pact With EPA
------------------------------------------------------------------
On June 3, 2015, the Liquidating Trustee lodged a proposed
stipulation by and between the Liquidating Trustee and the U.S.
Environmental Protection Agency with the U.S. Bankruptcy Court for
the District of Delaware, in the Chapter 11 bankruptcy of FBI Wind
Down, Inc., fka Furniture Brands International, Inc., et al.

The Settlement Agreement resolves the claims of the U.S. set forth
in the proof of claim against Thomasville Furniture Industries,
Inc., for costs incurred and to be incurred in connection with the
Buckingham County Landfill Site, located in Dillwyn, Buckingham
County, Virginia, pursuant to Section 107 of the Comprehensive
Environmental Response, Compensation, and Liability Act, 42 U.S.C.
9607.  Under the Settlement Agreement, the Liquidating Trustee
agrees to an allowed and fixed general unsecured claim in the
amount of $6 million for costs incurred and to be incurred by the
U.S. Environmental Protection Agency at the Site.

                      About Furniture Brands

Furniture Brands International (NYSE:FBN) --
http://www.furniturebrands.com-- engaged in the designing,  
manufacturing, sourcing and retailing home furnishings. Furniture
Brands markets products through a wide range of channels,
including company owned Thomasville retail stores and through
interior designers, multi-line/ independent retailers and mass
merchant stores.  Its brands include Thomasville, Broyhill, Lane,
Drexel Heritage, Henredon, Pearson, Hickory Chair, Lane Venture,
Maitland-Smith and LaBarge.

The balance sheet at June 29, 2013, showed $546.73 million in
total assets against $550.13 million in total liabilities.

On Sept. 9, 2013, Furniture Brands International, Inc. and 18
affiliated companies sought Chapter 11 protection (Bankr. D. Del.
Lead Case No. 13-12329).

Attorneys at Paul Hastings LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  Alvarez and Marsal
North America, LLC, is the restructuring advisors.  Miller
Buckfire & Co., LLC is the investment Banker.  Epiq Systems Inc.
dba Epiq Bankruptcy Solutions is the claims and notice agent.

The official creditor's committee is comprised of the Pension
Benefit Guaranty Corp., Milberg Factors Inc. and five suppliers.
The Committee tapped Blank Rome LLP as co-counsel, Hahn &
Hessen LLP as lead counsel, BDO Consulting as financial advisor,
and Houlihan Lokey Capital, Inc., as investment banker.

In November 2013, Furniture Brands won bankruptcy court approval
to sell the business to KPS Capital Partners LP for $280 million.
Private-equity investor KPS formed a new company named Heritage
Home Group LLC to operate the business.  Furniture Brands changed
its name to FBI Wind Down, Inc., following the sale.

The Debtors on July 14, 2014, won confirmation of their Second
Amended Joint Plan of Liquidation as filed on July 9, 2014.


GBG RANCH: Updates Full-Payment Liquidating Plan
------------------------------------------------
GBG Ranch, Ltd., filed an amended liquidating plan to incorporate
developments in the Chapter 11 case since the filing of the
original iteration of the plan.  The Debtor's plan proposes to pay
all claims in full.

GB Ranch owns three ranches in Laredow, Webb County, Texas: Hill
Ranch, the Corazon Ranch, and the Oilton Ranch.

The Debtor has successfully conducted two auction sales of tracks
on the Hill Ranch. Hill Cuchilla, LLC as assignee of Memo, won the
auction for the Hill Tracts 1, 2, 8 and 9 with its $4,079,542
offer.  Hill Cuchilla, LLC, won the auction for Hill Tracts 3 and 4
with a $5,475,000 bid.  The Debtor still owns 3 Hill Ranch tracts
– Tract 5, Tract 6 and Tract 7.

The Corazon Ranch has been appraised at $13,470,000 or $1,525 per
acre.  Pursuant to the Wind Stipulation, the Debtor intends to
convey the Corazon into the GBG Ranch Trust in order to facilitate
the exploitation of the wind opportunities on the Corazon.

As for the Oilton Ranch, in April 2015, the Debtor, Quita Wind and
Torrecillas Wind Energy, Company, LLC, sought and obtained approval
of the assumption of the Torrecillas Wind Lease dated March 31,
2014 on the Oilton Ranch.  The Debtor received notification on Aril
30, 2015 that the Torrecillas Wind Project is on track for a 2016
construction start date as well as confirmation that the Delay
Rental payable under the Wind Lease has been funded to the IOLTA
account of Clemens & Spencer, P.C.

In accordance with the Wind Stipulation, the Debtor has agreed to
liquidate the non-mineral classified lands located on the Hill
consisting of Tracts 1, 2, 3, 4, 6, 7, 8 and 9, and Transfer the
surface estate, including the mineral classified portion of the
Corazon, the surface estate of the Oilton, and the mineral
classified lands of the Hill (Tract 513) into a Texas domestic
trust (the "GBG Ranch Trust") which shall have two classes of
beneficiaries: "Surface Estate Beneficiaries"; and "Wind Revenue
Beneficiaries".  Alternatively, in the event that the Frost Bank
Trust Department, or another qualified trustee is identified for
the GBG Ranch Trust, but the trustee declines to accept the
Corazon, the Oilton or the Hill Tracts ("Rejected Plan Assets"),
the Debtor will cause the Rejected Plan Assets to be sold.

The Debtor has no secured debt and, therefore, there are no secured
claims scheduled.  According to the Amended Disclosure Statement,
the priority and/or secured claims of taxing authorities (Class 1)
will be paid in full on the effective date of the Plan.  Allowed
general unsecured claims of third parties (Class 2) estimated at
$52,835 will be paid in full from cash on hand on the Effective
Date.  The general unsecured claims of affiliated entities (Class
3) will be paid in full within 30 business days following the day
on which the claims become and allowed pursuant to a final order.
Holders of equity interests will receive their pro rata share
distribution of the cash on hand after payment of all allowed
administrative expenses and all allowed Class 2 and Class 3
claims.

A redlined copy of the disclosure statement explaining the Debtor's
First Amended Plan of Liquidation dated May 19, 2015, is available
for free at:

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

                          About GBG Ranch

GBG Ranch, LTD, a Texas Limited Partnership, owns the surface
estate of three ranches in the vicinity of Laredo, Webb County,
Texas.   

GBG Ranch sought Chapter 11 protection (Bankr. S.D. Tex. Case No.
14-50155) in Laredo, Texas on July 8, 2014, without stating a
reason.  In a schedules filed Dec. 9, 2014, the Debtor disclosed
$54,111,258 in assets and $4,401,493 in liabilities as of the
Chapter 11 filing.

The company is represented by the Law Office of Carl M. Barto.
Leslie M. Luttrell and the Luttrell + Villareal Law Group serve as
special counsel.

In October 2014, the Court, with the agreement of the Debtor, Memo
and Quita Wind, appointed Ronald Hornberger as the Chapter 11
Examiner under 11 U.S.C. Sec. 1106.


GEORGE WASHINGTON ACADEMY: S&P Raises LT Rating From 'BB+'
----------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term rating to
'BBB-' from 'BB+' on George Washington Academy (GWA), Utah's
existing debt.  At the same time, Standard & Poor's assigned its
'BBB-' long-term rating to GWA's series 2015 charter school revenue
bonds.  The outlook is stable.

"The raised rating reflects our view of GWA's stable enrollment and
strong demand, days cash on hand, and high academic performance,"
said Standard & Poor's credit analyst Jessica Matsumori.  "Further
supporting the rating is that GWA has no additional debt plans in
the near term," Ms. Matsumori added.

GWA, located in St. George, Utah, was originally authorized by the
Utah State Charter School Board in 2006 and has been operational
since fiscal 2007.  The school currently serves grades kindergarten
through eighth grade, with an emphasis on CORE Knowledge
curriculum.



GIGGLES N HUGS: Reports $319K Net Loss in March 29 Quarter
----------------------------------------------------------
Giggle N Hugs, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $319,000 on $918,000 of revenue for the 13
weeks ended March 29, 2015, compared with a net loss of $506,000 on
$822,000 of revenue for the same period last year.

The Company's balance sheet at March 29, 2015, showed $2.68 million
in total assets, $2.86 million in total liabilities, and a
stockholders' deficit of $171,000.

The Company has recently sustained operating losses and has an
accumulated deficit of $7.47 million at March 29, 2015.  In
addition, the Company has negative working capital of $843,000 at
March 29, 2015.  These factors raise substantial doubt about the
ability of the Company to continue as a going concern, according to
the regulatory filing.

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

                    http://is.gd/RFTrqa

Los Angeles, Calif.-based Giggle N Hugs, Inc., owns and operates a
kid-friendly restaurant named Giggles N Hugs in the Westfield Mall
in Century City, as well as the new Westfield Topanga Shopping
Center location in Woodland Hills, California and owns the
intellectual property rights for Giggles N Hugs facilities in the
future.

Giggle N Hugs, Inc., reported a net loss of $2.36 million on $3.34
million in revenues for the year ended Dec. 28, 2014, compared to a
net loss of $1.56 million on $2.26 million of revenues in the same
period in 2013.

De Joya Griffith LLC expressed substantial doubt about the
Company's ability to continue as a going concern, citing the
Company has has incurred losses from operations.


GMG CAPITAL: Athenian Says 2nd Amended Plan Unconfirmable
---------------------------------------------------------
Athenian Venture Partners I, L.P. and Athenian Venture Partners II,
L.P., say the latest plan of reorganization proposed by GMG Capital
Partners III, L.P., et al., remains unconfirmable, and the
bankruptcy court should instead grant Athenian's motion dismiss or
convert the Chapter 11 cases.

AVP updated the motion to convert in connection with the filing of
the Disclosure Statement for Second Amended Joint Plan of
Reorganization proposed by debtors GMG Capital, et al.

AVP noted that the Plan is not confirmable and the Disclosure
Statement is not adequate because the Debtors have not secured
sufficient funding for their Plan and cannot demonstrate any
likelihood that sufficient funding will ever be available.

The Plan Debtors claim to have exit funding that will enable them
to borrow a maximum of $6.5 million to fund distributions and
reserves under the Plan.  The Plan Debtors claim that the amount is
sufficient.  While the Plan Debtors claim to have $6.5 million in
financing, they actually need over $8.5 million in financing -- a
funding shortfall of over $2 million.

                    Dismissal/Conversion Motion

As reported in the TCR on Oct 28, 2014, AVP filed a motion seeking
an order to convert the cases the Debtors into chapter 7
proceedings.  Two of the Debtors have finally, after over a year in
bankruptcy, filed a purported chapter 11 plan.  AVP however
complains that the "plan" contains none of the terms most important
to the Debtors' creditors and other stakeholders -- namely, the
amount of the Debtors' assets being sold to fund the plan, the
amount of money the Debtors will receive for that sale and the time
that the sale will close.

Instead, the "plan" is a nearly-blank form that contains nothing
of substance, except perhaps non-consensual third-party releases
for the benefit of the Debtors' insiders, AVG contends.

Moreover, AVG continues, the "plan" only covers two of the
Debtors, GMG III and GMG Companion, and, perhaps most egregiously,
the Debtors have failed to file a disclosure statement concerning
the "plan" in violation of Rule 3016(b) of the Federal Rules of
Bankruptcy Procedure.

AVP relates that the Debtors' cases have now been pending for over
a year and as the monthly operating reports demonstrate, the
Debtors are not operating entities -- they have no employees,
create no goods, provide no services, make no sales, and collect
no revenues; and are not actively investing in any companies or
properties.  Instead, they are fully-invested venture capital
vehicles whose sole purpose is to hold certain speculative
investments, namely stock in several unproven technology
companies, AVP notes.  The Debtors, AVP relays, have held these
stocks for over ten years at this point.

Now, a year into these bankruptcy cases, the Debtors still appear
to be unable to propose a confirmable chapter 11 plan -- leaving
two of the Debtors to file a bare-bones plan with no detail
concerning how distributions will be funded and the other two
Debtors with zero prospects for exiting bankruptcy, AVP maintains.

"The only sensible path forward," AVP argues, "is for the Debtors
to promptly sell sufficient assets to meet their obligations
without further delay."

Consequently, because the Debtors' insiders are not acting with
creditors' best interests at heart, it is time for these cases to
be converted to chapter 7 to allow a neutral fiduciary to
liquidate the estates' assets or be dismissed to allow creditors
to enforce their state law rights, AVP tells the Court.

                    About GMG Capital Partners

GMG Capital Partners III, L.P., and GMG Capital Partners III
Companion Fund, L.P., sought Chapter 11 protection (Bankr.
S.D.N.Y. Case No. 13-12937 and 13-12939) in Manhattan on Sept. 10,
2013.  Stuart M. Bernstein oversees the Debtor's case.  Olshan
Frome Wolosky LLP represents the Debtor its Chapter 11 Bankruptcy
Case.  GMG Capital Partners III disclosed $21,696,757 in assets
and $7,877,498 in liabilities as of the Chapter 11 filing.

GMG Capital Partners III, L.P., filed its First Amended Joint Plan
of Reorganization and explanatory Disclosure Statement dated
Dec. 5, 2014.

The cornerstone of the Plan is the transfer of certain of the
Debtors' assets in Lancope pursuant to the asset purchase
agreement to a third party in exchange for the consideration
necessary to fund the plan.  As part of that transaction, non-
Debtor GMG IIIA, a book entry holder of certain interests in
Lancope, will also transfer certain of its interests in Lancope to
fund the Plan.  The Debtors believe such transfer is entirely
consistent with the expectations of all III Class Partnerships to
be treated equally on a pro rata basis.  GMG LLC is in the process
of contacting the limited partners of GMG IIIA, stating GMG LLC's
intention for GMG IIIA to follow through with the Sale and
otherwise contribute to the Plan expenses and distributions on a
pro rata basis.



GRASS VALLEY: Amends List of Largest Unsecured Creditors
--------------------------------------------------------
Grass Valley Holdings, L.P., filed with the U.S. Bankruptcy Court
for the District of Utah an amended list of creditors holding the
20 largest unsecured claims to provide for (1) the addition of
Standard Plumbing in the list; and (2) the exclusion of these
creditors from the list: (i) Garth O. Green; (ii) GEMSA; (iii)
Michal Green; and (iv) Mountain America Credit Union.  The
creditors' list now consists of these creditors:

         Creditors                     Amount of Claim
         ---------                     ---------------
City of Lehi                                 $1,255
Coldwell Banker                              $3,479
Durham Jones & Pinegar                      $25,000
Garth O. Green Enterprises, Inc.            Unknown
Intermountain Door                             $217
Janna Johnson                                $1,300
Springville City                             $2,254
Squire & Company, P.C.                      $16,298
Standard Plumbing                           Unknown
Veracity                                       $353

                        About Grass Valley

Based in Springville, Utah, Grass Valley Holdings, L.P., is a
holding company for real property located in Utah as well as an
interest in real property located in Idaho Falls, Idaho.

Grass Valley Holdings commenced a Chapter 11 bankruptcy case
(Bankr. D. Utah Case No. 15-24513) in Salt Lake City, Utah, on May
15, 2015.

The Debtor disclosed $21,478,874 in assets and $13,187,245 in
liabilities as of the Chapter 11 filing.

The case is assigned to Judge R. Kimball Mosier.  The Debtor is
represented by Gary E. Jubber, Esq., and Douglas J. Payne, Esq., at
Fabian and Clendinin, in Salt Lake City.


HAAS ENVIRONMENTAL: Pipe Services Sells $73,000 Claim to Sierra
---------------------------------------------------------------
In the Chapter 11 case of Haas Environmental, Inc., one claim
switched hands on March 4, 2015:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Sierra Liquidity Fund, LLC      Pipe Services        $72,676.00

                      About Haas Environmental

With corporate offices located at Vincentown, New Jersey, Haas
Environmental, Inc., performs industrial cleaning and maintenance
at steel mills, and provides support services to companies involved
in "fracking" operations.  The company's steel mill operations are
located in Trinity, Alabama; Armorel, Arkansas; and Burns Harbor,
Indiana.  Eugene Haas is the president.

Haas Environmental filed a Chapter 11 petition (Bankr. D.N.J. Case
No. 13-27297) on Aug. 6, 2013.  Judge Kathryn C. Ferguson presides
over the case.  The Debtor disclosed $10.1 million in assets and
$11.6 million in liabilities as of the Chapter 11 filing.  

The Debtor tapped Cozen O'Conner as counsel from the Petition Date
through Dec. 8, 2013, and Sherman Silverstein from Dec.9, 2013 to
the present.  Woodworth & St. John is the Debtor's accountant;
Guida Realty is the realtor to assist with the sale of the
Seubenville, Ohio property; and Kennen & Kennen, Inc. as realtor
for the sale of the Glen Dale property.

Mary E. Seymour, Esq., at Lowenstein Sandler LLP, serves as counsel
for the Official Committee of Unsecured Creditors.  EisnerAmper LLP
serves as the Committee's financial advisor.


HD SUPPLY: Posts $242 Million Net Income in First Quarter
---------------------------------------------------------
HD Supply Holdings, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $242 million on $2.2 billion of net sales for the three months
ended May 3, 2015, compared to a net loss of $12 million on $2.1
billion of net sales for the three months ended May 4, 2014.

As of May 3, 2015, HD Supply had $6.3 billion in total assets, $6.8
billion in total liabilities and a $498 million total stockholders'
deficit.

"I am very pleased with our solid first quarter performance.  We
delivered 6 percent sales growth, 14 percent Adjusted EBITDA growth
and 94% Adjusted EPS growth," stated Joe DeAngelo, CEO of HD
Supply.  "Despite adverse weather and a challenging environment, we
remained focused on controllable execution to deliver profitable
growth in excess of our market growth estimates while keeping our
teams safe."

The Company said its sources of funds, primarily from operations,
cash on-hand, and, to the extent necessary, from readily available
external financing arrangements, are sufficient to meet all current
obligations on a timely basis.  The Company believes that these
sources of funds will be sufficient to meet the operating needs of
its business for at least the next twelve months.

During the first quarter of fiscal 2015, the Company's generation
of cash was primarily driven by cash receipts from operations, net
debt borrowings, and proceeds from stock option exercises,
partially offset by the payment of interest on debt and capital
expenditures.

As of May 3, 2015, the Company's combined liquidity of
approximately $1,215 million was comprised of $155 million in cash
and cash equivalents and $1,060 million of additional available
borrowings (excluding $41 million of borrowings on available cash
balances) under its Senior ABL Facility, based on qualifying
inventory and receivables.

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

                        http://is.gd/3dErol

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

                           *     *     *

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

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


HORNED DORSET: Creditor's Meeting Slated for July 6
---------------------------------------------------
A meeting of creditors of Horned Dorset Primavera Inc. is set for
July 6, 2015, at 9:00 a.m., at 341 meeting room, Ochoa Building,
500 Tanca Street, First Floor in San Juan, Puerto Rico.

                 About The Horned Dorset Primavera

The Horned Dorset Primavera Inc. operates the Horned Dorset
Primavera, a small luxury hotel located in northwestern Puerto
Rico, two miles from the town of Rincon.  The hotel --
http://www.horneddorset.net/-- is set among rolling hills at the   
edge of the beautiful Caribbean Sea and is known for reserved
European service executed in an atmosphere unique in Puerto Rico
and the award-winning Restaurant Aaron.  The hotel is a member of
Relais & Chateaux.

The Horned Dorset Primavera Inc. commenced a Chapter 11 bankruptcy
case (Bankr. D.P.R. Case No. 15-03837) in Old San Juan, Puerto Rico
on May 22, 2015.

According to the docket, the Debtor's is due Sept. 21, 2015, and
its Chapter 11 plan is due Nov. 18, 2015.

The Debtor has tapped Isabel M Fullana, Esq., at Garcia Arregui &
Fullana PSC, as counsel.


HORNED DORSET: Wilhelm Sack to Serve as Representative
------------------------------------------------------
The Horned Dorset Primavera Inc. obtained approval from the U.S.
Bankruptcy Court for the District of Puerto Rico to allow Wilhelm
Sack to perform all acts to be performed by the Debtor and attend
on behalf of the Debtor any examination, meeting or hearing unless
the Court orders otherwise.

According to the Debtor, Mr. Sack, as General Manager of the
Debtor, is knowledgeable of all pertinent financial information
concerning the Debtor, as well as business operations and its
future rehabilitation.

                 About The Horned Dorset Primavera

The Horned Dorset Primavera Inc. operates the Horned Dorset
Primavera, a small luxury hotel located in northwestern Puerto
Rico, two miles from the town of Rincon.  The hotel --
http://www.horneddorset.net/-- is set among rolling hills at the  

edge of the beautiful Caribbean Sea and is known for reserved
European service executed in an atmosphere unique in Puerto Rico
and the award-winning Restaurant Aaron.  The hotel is a member of
Relais & Chateaux.

The Horned Dorset Primavera Inc. commenced a Chapter 11 bankruptcy
case (Bankr. D.P.R. Case No. 15-03837) in Old San Juan, Puerto Rico
on May 22, 2015.

According to the docket, the Debtor's is due Sept. 21, 2015, and
its Chapter 11 plan is due Nov. 18, 2015.

The Debtor has tapped Isabel M Fullana, Esq., at Garcia Arregui &
Fullana PSC, as counsel.


HOVNANIAN ENTERPRISES: Incurs $19.6 Million Net Loss in Fiscal Q2
-----------------------------------------------------------------
Hovnanian Enterprises, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $19.6 million on $469 million of total revenues for the three
months ended April 30, 2015, compared with a net loss of $7.90
million on $450 million of total revenues for the same period in
2014.

For the six months ended April 30, 2015, the Company reported a net
loss of $33.9 million on $915 million of total revenues compared to
a net loss of $32.4 million on $814 million of total revenues for
the same period last year.

As of April 30, 2015, the Company had $2.50 billion in total
assets, $2.60 billion in total liabilities and a $146 million total
stockholders' deficit.

"As we discussed on our first quarter conference call, we expected
our second quarter gross margin to be adversely affected by
incentives and concessions on started unsold homes.  However, the
impact was greater than we anticipated and we are disappointed with
our second quarter results," stated Ara K. Hovnanian, Chairman of
the Board, president and chief executive officer. "Based on the
higher gross margin in our April 30th backlog we are confident that
our gross margin for the third and fourth quarters of fiscal 2015
will show sequential increases.  While we still feel good about our
ability to grow the top line during fiscal 2015 and still expect to
generate a solid profit during the fourth quarter, we do not expect
it to be sufficient to offset earlier quarterly losses."

"We control enough land today to further grow our community count
and remain focused on improving the operating results of some of
our weaker divisions.  As a result, assuming no changes in current
market conditions, we expect fiscal 2016 to be a breakout year for
deliveries and revenues, which should lead to a substantial
increase in profitability as compared to recent years," concluded
Mr. Hovnanian.

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

                      http://is.gd/lL1w6O

                   About Hovnanian Enterprises

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

                           *     *     *

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

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

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


IBCS MINING: Cash Collateral Hearing Continued Until July 15
------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Virginia,
continued until July 15, 2015, at 10:00 a.m., the hearing to
consider approval of IBCS Mining, Inc., et al.'s continued use of
cash collateral.

At the hearing, the Court will also consider the objections filed
by creditors Wells Fargo Bank Northwest, N.A., as indenture
trustee, Virginia Electric and Power Company, and Branch Banking
and Trust Company.

The Court has already entered interim orders authorizing IBCS
Mining to use the cash collateral of Branch Banking and Trust
Company.

                        About IBCS Mining

IBCS Mining, Inc., and IBCS Mining, Inc., Kentucky Division, filed
Chapter 11 bankruptcy petitions (Bankr. W.D. Va. Case Nos. 14-61215
and 14-61216) on June 27, 2014.  The Court on July 8, 2014,
authorized the joint administration of the cases.  The cases are
assigned to Judge Kevin R. Huennekens.  

IBCS Mining estimated assets and debts of at least $10 million.
IBCS Mining Inc. disclosed $6.91 million in assets and $7.28
million in liabilities.  

Hirschler Fleischer, P.C., serves as the Debtors' counsel.  The
U.S. Trustee for Region 4 appointed two creditors to serves in an
official committee of unsecured creditors.



IBCS MINING: Hearing on Plan Outline Continued Until July 15
------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Virginia
continued until July 15, 2015, at 10:00 a.m., the hearing to
consider approval of the Disclosure Statement explaining IBCS
Mining, Inc., et al.'s Joint Plan of Reorganization.  The hearing
has been continued several times.

As reported in the Troubled Company Reporter on Feb. 2, 2015,
the Debtors submitted a Joint Plan and an explanatory Disclosure
Statement dated Jan. 23, 2015.  According to the Disclosure
Statement, the Joint Plan for each Debtor is separately funded.
The Plan for IBCS will be funded through distributions from IBCS KY
to Holders of Interests in IBCS KY Class 5.  The Plan of
Reorganization for IBCS KY will be funded by cash proceeds from
ongoing operations.

All general working capital requirements of the Reorganized
Debtors on and after the Effective Date will be funded with cash
receipts.

Under the Plan, the Debtors will treat claims as, among other
things:

    * The claim in IBCS KY 2 Class 2 (Mullins Secured Claim) will
be paid through monthly payments.

    * IBCS KY Class 3 (BB&T Secured Claim) will be paid through
monthly payments.  Payments to IBCS KY Class 3 will only commence
after IBCS KY Class 2 Claims are paid in full.

    * IBCS KY Class (General Unsecured Claims 4) will be paid
through monthly payments.  Payments to IBCS KY Class 4 Claims will
only commence after IBCS KY Class 2 Claims and IBCS KY Class 3
Claims are paid in full.

    * IBCS KY Class 5 (Interests) will be paid through monthly
payments.  Payments to holders of interests in IBCS KY Class 5 will
only commence after IBCS KY Class 2 Claims, IBCS KY Class 3 Claims,
and IBCS KY Class 4 Claims are paid in full.

IBCS Class 2 (Secured Claims) will be paid through distributions by
IBCS KY to IBCS KY Class 5 Claims.  Payments to IBCS Class 2
Claims will only commence after IBCS Class 1 Claims are paid
in full.

IBCS Class 3 (General Unsecured Claims) will be paid through
distributions by IBCS KY to IBCS KY Class 5 Claims.  Payments to
IBCS Class 3 Claims will only commence after IBCS Class 1 Claims
and IBCS Class 2 Claims are paid in full.

Holder of IBCS Class 4 (Interests) will receive no distribution
under the Plan on account of the interests.  On the Effective Date,
all Interests in IBCS KY will be cancelled and discharged and will
be of no further force and effect, whether surrendered for
cancellation or otherwise.

Copies of the Disclosure Statement and Plan are available for free
at

               http://bankrupt.com/misc/IBCS_DS.pdf
               http://bankrupt.com/misc/IBCS_PLAN.pdf

                        About IBCS Mining

IBCS Mining, Inc., and IBCS Mining, Inc., Kentucky Division, filed
Chapter 11 bankruptcy petitions (Bankr. W.D. Va. Case Nos. 14-61215
and 14-61216) on June 27, 2014.  The Court on July 8, 2014,
authorized the joint administration of the cases.  The cases are
assigned to Judge Kevin R. Huennekens.  

IBCS Mining estimated assets and debts of at least $10 million.
IBCS Mining Inc. disclosed $6.91 million in assets and $7.28
million in liabilities.  

Hirschler Fleischer, P.C., serves as the Debtors' counsel.  The
U.S. Trustee for Region 4 appointed two creditors to serves in an
official committee of unsecured creditors.



INTERNATIONAL BRIDGE: Can Access Cash Collateral on Interim Basis
-----------------------------------------------------------------
The Hon. Dale L. Somers of the U.S. Bankruptcy Court for the
District of Kansas authorized International Bridge Corporation to
use cash collateral on an interim basis.

The interim order indicates that the Debtor will tender a monthly
payment to Internal Revenue Service ("IRS") in the amount of $2,000
on or before June 1, 2015, and by the first of each month
thereafter, and will grant a continuing and replacement lien in
accounts receivable created post-petition to IRS.

A final hearing is set for June 18, 2015 at 1:30 p.m. in the Kansas
City Division of U.S. Bankruptcy Court located at 500 State Avenue,
Room 151 in Kansas City, Kansas.

As reported in the Troubled Company Reporter on May 12, 2015, the
Debtor intends to use cash collateral for miscellaneous operating
costs, the payment of income to its employees, payment of
attorney's fees, and for payment of the U.S. Trustee's assessments
and other expenses in the Ch. 11 proceeding.

If allowed to use the cash collateral for its operating needs, the
Debtor should not require any additional postpetition financing,
nor should it incur further indebtedness during the pendency of the
case.  The cash collateral will be utilized on an interim, but
likely ongoing basis, with extensions to the motion filed every 90
days, or other period as the Court.

TOA Corporation ("TOA"), the Government of Guam, the Department of
Revenue and Taxation ("Guam") and IRS may claim an interest in the
cash collateral.  The Debtor owes TOA in the amount of $7,769,779
(of which $629,000 is undisputed, and the remainder is disputed),
the IRS the amount of $4,477,161 and Guam in the amount of
$4,822,812.

On Aug. 2, 2011, the IRS filed a notice of federal tax lien with
the register of deeds in Shawnee County, Kansas.  On March 12,
2015, Guam filed a notice of tax lien with the District of Guam.
TOA may assert an interest in the cash collateral by virtue of a
UCC-1 filled with some branch of the Guam Government but the
description of the property that TOA claims an interest in does not
seem to encompass the cash collateral.

The Debtor seeks permission to use cash collateral, only to extent
of the account receivable owed by CaPFA Capital Corp. 2010 for the
month of April and each month thereafter, to continue its business
operations.

The Debtor will grant a continuing and replacement lien in accounts
receivable created postpetition.  However, no further adequate
protection will be provided.

The Debtor contends that IRS and Guam are currently over-secured
based upon the value of its assets and the secured claims as of the
Petition Date, and therefore no additional security or value should
be required for use of the cash collateral.

                     About Int'l Bridge Corp.

International Bridge Corporation, a contractor for government
projects in the South Pacific and Guam, sought Chapter 11
protection (Bankr. D. Kan. Case No. 15-20951) in Kansas City on May
7, 2015.  Robert Toelkes, the sole shareholder and manager, signed
the petition.  The Debtor disclosed total assets of $17.4 million
and total debts of $27.4 million.

The case is assigned to Judge Robert D. Berger.  The Debtor tapped
Stevens & Brand, LLP, as its counsel.  Foulston Siefkin, LLP,
serves as the Debtor's special litigation counsel.  Robert G. Nath,
PLLC, represents the Debtor as special tax counsel.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due by Sept. 4, 2015.


K&K INC: Case Summary & Largest Unsecured Creditor
--------------------------------------------------
Debtor: K&K, Inc.
        6413 N. Park Avenue
        Kansas City, MO 64118

Case No.: 15-41689

Chapter 11 Petition Date: June 10, 2015

Court: United States Bankruptcy Court
       Western District of Missouri (Kansas City)

Judge: Hon. Cynthia A. Norton

Debtor's Counsel: Erlene W. Krigel, Esq.
                  KRIGEL & KRIGEL, P.C.
                  4550 Belleview Ave.
                  Kansas City, MO 64111
                  Tel: 816-756-5800
                  Fax: 816-756-1999
                  Email: ekrigel@krigelandkrigel.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Mia Jamison, president.

The Debtor listed Mia Jamison as its largest unsecured creditor
holding an unknown amount of claim.

A copy of the petition is available for free at:

             http://bankrupt.com/misc/mowb15-41689.pdf


LANGUAGE LINE: S&P Raises CCR to 'B', Outlook Stable
----------------------------------------------------
Standard & Poor's Ratings Services said that it raised its ratings,
including its corporate credit rating, on Monterey, Calif.-based
interpretation service provider Language Line Holdings LLC to 'B'
from 'B-'.  The outlook is stable.

At the same time, S&P assigned its 'B' issue-level rating, with a
recovery rating of '3' to the company's proposed $530 million
senior secured first-lien credit facility.  The '3' recovery rating
indicates S&P's expectation for a meaningful recovery (50%-70%;
upper half of the range) of principal in the event of a payment
default.  The senior secured first-lien credit facility includes a
$50 million revolving credit facility and a $480 million senior
secured first-lien term loan.

S&P also assigned its 'CCC+' issue-level rating, with a recovery
rating of '6' to the company's proposed $160 million senior secured
second-lien term loan.  The '6' recovery rating indicates S&P's
expectation for negligible recovery (0%-10%) of principal in the
event of a payment default.

S&P will withdraw its ratings on the existing senior secured
first-lien credit facility and senior secured second-lien term
loan, both due 2016, when the debt have been repaid.

"The upgrade is based on Language Line's improved margin of
compliance (greater than 15%) with financial covenants under the
proposed refinancing terms," said Standard & Poor's credit analyst
Heidi Zhang.  The company's EBITDA cushion of compliance was less
than 5% as of March 31, 2015, and would have been subject to a
further covenant step-down to 4.5x on Sept. 30, 2015.  The stable
outlook reflects S&P's expectation that the company will maintain
"adequate" liquidity, with at least a 15% EBITDA margin of
compliance against its financial covenants and that leverage will
remain above 5x over the next year.

The stable outlook reflects S&P's expectation that the company will
maintain "adequate" liquidity, with at least a 15% EBITDA margin of
compliance against its financial covenants, and that leverage will
remain above 5x over the next year.

S&P could consider lowering the rating if the company's EBITDA
margin of covenant compliance decreases to less than 15%, which
would likely result from declines in OPI minutes and pricing or
large debt-financed acquisitions.

Although unlikely over the next year, S&P could raise the rating if
it is convinced that company can maintain leverage under 5x on a
sustained basis.  This would likely require continued revenue and
earnings growth, meaningful debt repayment, and a commitment
towards a less aggressive financial policy.



LANTHEUS MEDICAL: Proposes $365M Loan Facility with Credit Suisse
-----------------------------------------------------------------
Lantheus Medical Imaging, Inc., commenced the marketing process for
a proposed new senior secured term loan facility in an amount of up
to $365 million with Credit Suisse AG, Cayman Islands Branch, as
administrative agent and collateral agent, according to a Form 8-K
report filed with the Securities and Exchange Commission.

The net proceeds of the new term facility, together with cash on
hand and the net proceeds of a proposed initial public offering of
common stock of the Company's parent company, would be used to
redeem in full the Company's outstanding $400 million aggregate
principal amount of 9.750% Senior Notes due 2017, to repay amounts
outstanding under its revolving credit facility and to pay related
premiums, interest and expenses.  

The consummation of the new term loan facility will be conditioned
upon the closing of the initial public offering.  There can be no
assurance that the Company will enter into the new credit facility
or that the initial public offering will occur.

                      About Lantheus Medical

Lantheus Medical Imaging, Inc., a wholly-owned operating
subsidiary of parent company, Lantheus MI Intermediate, Inc., is a
global leader in developing, manufacturing, selling and
distributing innovative diagnostic imaging agents.  LMI provides a
broad portfolio of products, which are primarily used for the
diagnosis of cardiovascular diseases.  LMI's key products include
the echocardiography contrast agent DEFINITY(R) Vial for
(Perflutren Lipid Microsphere) Injectable Suspension;
TechneLite(R) (Technetium Tc99m Generator), a technetium-based
generator that provides the essential medical isotope used in
nuclear medicine procedures; and Xenon (Xenon Xe 133 Gas), an
inhaled radiopharmaceutical imaging agent used to evaluate
pulmonary function and for imaging the lungs.

Lantheus Medical reported a net loss of $1.16 million in 2014, a
net loss of $61.7 million in 2013 and a net loss of $42 million in
2012.

As of March 31, 2015, the Company had $249 million in total assets,
$489 million in total liabilities, and a $241 million total
stockholders' deficit.

                            *     *    *

As reported by the TCR on July 1, 2014, Moody's Investors Service
upgraded the ratings of Lantheus  including the Corporate Family
Rating to 'Caa1' from 'Caa2', the Probability of Default Rating to
Caa1-PD from Caa2-PD and the senior unsecured rating to 'Caa1
(LGD4)' from 'Caa2 (LGD4)'.

"The upgrade reflects our outlook for continuing earnings
improvement driven by rising DEFINITY sales and the impact of
ongoing cost reductions, while the positive outlook considers the
potential for deleveraging pending a successful IPO and further
resolution of supply issues," stated Michael Levesque, Senior Vice
President.

In the Nov. 6, 2013, edition of the TCR, Standard & Poor's Ratings
Services said it lowered its corporate credit rating on Lantheus
Medical Imaging Inc. to 'B-' from 'B'.  The outlook is negative.


LERIN HILLS: Proposes DIP Financing From Putnam
-----------------------------------------------
MA Lerin Hills Holder, LP, LH Devco, Inc., and Lerin Hills Utility
Inc., which are being managed by a receiver, are asking the U.S.
Bankruptcy Court for the Western District of Texas to enter interim
and final orders authorizing them to obtain senior secured
superpriority term loans from existing lender Putnam Bridge Funding
III, LLC.

Deborah D. Williamson, Esq., at Dykema Cox Smith, relates that the
Debtors' property -- which produces no cash flow -- has run out of
cash and remains materially unfinished.  The property has no access
to water, and home builders have refused to close building lot
purchases, thus denying access to the Debtors' sole source of
revenue for the property.  The Debtors believe the interests of
their creditors can best be achieved through a sale of the
property.

The Debtors require DIP financing from Putnam to provide them with
the liquidity to maintain their operations throughout the
bankruptcy case sand to fund certain amounts necessary to propose
and consummate a confirmable plan.

The salient terms of the DIP financing are:

   -- Security: The Debtors will grant Putnam a valid and perfected
security interest assets of the Debtors, and the DIP obligations
will constitute allowed administrative claims equal in priority to
a claim under 11 U.S.C. Sec. 364(c)(1).

   -- Interest rate: The interest rate will be 13% per annum.

   -- Sec. 506(c) Waiver:  The Debtors will waive any and all
rights to surcharge the collateral.

   -- Carve-Out: The liens and superpriority claims granted to the
DIP Lender will be subject to a carve-out of the allowed fees and
expenses of professionals, provided that allowed administrative
expenses will not exceed $1 million.

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

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

                         About Lerin Hills

MA Lerin Hills Holder, LP, LH Devco, Inc., and Lerin Hills Utility
Inc., own 867 acres of real property known as the Lerin Hills
residential real estate development located in Boerne, Texas.

The Lerin Hills project currently produces no cash flow, has run
out of cash and remains materially unfinished.  

In December 2014, the companies defaulted on debt to Putnam Funding
III, LLC, which claims to be owed not less than $41.3 million as of
the Petition Date.  On April 7, 2015, at the behest of Putnam, the
216th Judicial District Court in Kendall County, Texas, appointed
Andrew S. Cohen as receiver for the assets.

On June 8, 2015, the Receiver filed Chapter 11 bankruptcy petitions
for MA Lerin Hills and its two affiliates (Bankr. W.D. Tex. Case
Nos. 15-51424 to 15-51426) in San Antonio, Texas.  

The Receiver immediately filed a Joint Chapter 11 Plan of
Liquidating Plan for the Debtors.  The Plan is being sponsored by
Putnam.

The Debtors tapped Cox Smith Matthews Incorporated as attorneys.
Putnam tapped Akin Gump Strauss Hauer & Feld LLP as counsel.


LERIN HILLS: Seeks to Reject Several Contracts
----------------------------------------------
MA Lerin Hills Holder, LP, LH Devco, Inc., and Lerin Hills Utility
Inc., which are being managed by a receiver, are parties to
contracts that no longer provide any benefits of the Debtors.
Accordingly, the Debtors ask the U.S. Bankruptcy Court for the
Western District of Texas for approval to reject certain contracts.
A list of the rejected contracts is available for free at
http://bankrupt.com/misc/Lerin_H_M_Financing.pdf

                         About Lerin Hills

MA Lerin Hills Holder, LP, LH Devco, Inc., and Lerin Hills Utility
Inc., own 867 acres of real property known as the Lerin Hills
residential real estate development located in Boerne, Texas.  The
Lerin Hills project currently produces no cash flow, has run out of
cash and remains materially unfinished.  

In December 2014, the companies defaulted on debt to Putnam Funding
III, LLC, which claims to be owed not less than $41.3 million as of
the Petition Date.  On April 7, 2015, at the behest of Putnam, the
216th Judicial District Court in Kendall County, Texas, appointed
Andrew S. Cohen as receiver for the assets.

On June 8, 2015, the Receiver filed Chapter 11 bankruptcy petitions
for MA Lerin Hills and its two affiliates (Bankr. W.D. Tex. Case
Nos. 15-51424 to 15-51426) in San Antonio, Texas.  

The Receiver immediately filed a Joint Chapter 11 Plan of
Liquidating Plan for the Debtors.  The Plan is being sponsored by
Putnam.

The Debtors tapped Cox Smith Matthews Incorporated as attorneys.
Putnam tapped Akin Gump Strauss Hauer & Feld LLP as counsel.


LERIN HILLS: Wants Notice of MUD Actions
----------------------------------------
MA Lerin Hills Holder, LP, LH Devco, Inc., and Lerin Hills Utility
Inc., which are being managed by a receiver, are asking the U.S.
Bankruptcy Court for the Western District of Texas to enter an
order requiring that the Lerin Hills Municipal Utility District
("MUD") or its directors, as applicable, give the Debtors advanced
notice of any proposed action to be taken by the MUD, or by any of
its directors related to or affecting the operation, development or
value of the Debtors' property or other governance of the MUD.

Deborah D. Williamson, Esq., at Dykema Cox Smith, relates that a
fundamental aspect of the development of the Debtors' primary asset
and fundamental purpose for exiting -- the Lerin Hills residential
development -- is the need to bring full water and wastewater
services to the Debtor's property.  Without these basic utilities,
the property simply cannot be developed: lots cannot be sold, homes
cannot be built, revenue cannot be generated, and the Debtors
cannot repay their prepetition secured lender, Putnam Bridge
Funding III, LLC, or their other creditors.  The procurement of
water and sewer facilities, then, is a vital milestone that must be
met as soon as possible.  In accordance with Texas law, the MUD was
formed to ensure that any such water and sewer facilities are
procured and to facilitate a means by which the Debtors ultimately
can be reimbursed for the significant costs necessary to establish
such systems.

Ms. Williamson avers that the interests of the MUD and the Debtors
therefore are closely aligned, and the operation of the MUD is a
key component to the successful restructuring of the Debtors'
balance sheet development of the property.  Because the success of
the Debtors' efforts are so closely intertwined with the MUD, it is
vital for the Debtors to be aware of any proposed action to be
taken by the MUD, or by any of the MUD directors, which directly or
indirectly could impact the property, Ms. Williamson tells the
Court.

                         About Lerin Hills

MA Lerin Hills Holder, LP, LH Devco, Inc., and Lerin Hills Utility
Inc., own 867 acres of real property known as the Lerin Hills
residential real estate development located in Boerne, Texas.  The
Lerin Hills project currently produces no cash flow, has run out of
cash and remains materially unfinished.  

In December 2014, the companies defaulted on debt to Putnam Funding
III, LLC, which claims to be owed not less than $41.3 million as of
the Petition Date.  On April 7, 2015, at the behest of Putnam, the
216th Judicial District Court in Kendall County, Texas, appointed
Andrew S. Cohen as receiver for the assets.

On June 8, 2015, the Receiver filed Chapter 11 bankruptcy petitions
for MA Lerin Hills and its two affiliates (Bankr. W.D. Tex. Case
Nos. 15-51424 to 15-51426) in San Antonio, Texas.  The Receiver
immediately filed a Joint Chapter 11 Plan of Liquidating Plan for
the Debtors.  The Plan is being sponsored by Putnam.

The Debtors tapped Cox Smith Matthews Incorporated as attorneys.
Putnam tapped Akin Gump Strauss Hauer & Feld LLP as counsel.


LONESTAR GEOPHYSICAL: Amends Application to Hire McAfee & Taft
--------------------------------------------------------------
Gerod Black, chief financial officer for Lonestar Geophysical
Surveys, LLC, asks, in an amended application, the U.S. Bankruptcy
Court for the Western District of Oklahoma for permission to employ
McAfee & Taft A Professional Corporation, as counsel.

Mr. Black disclosed that McAfee & Taft has in the past represented
Frontier State Bank, the primary secured creditor of LSGS.  McAfee
& Taft provided advice regarding Frontier State Bank's mortgage
products during 2010 and 2011.  The attorney who provided the
advice is no longer employed by McAfee & Taft.

The principal attorneys expected to represent LSGS in the matter
and their current hourly rates are:

         Ross A. Plourde               $325
         Steven W. Bugg                $310

In addition, other attorneys and paraprofessionals may from time to
time provide services to LSGS in connection with the bankruptcy
proceedings.  The range of hourly rates for McAfee & Taft's
attorneys and legal assistants are:

         Partners                   $225 - $550
         Associates                 $165 - $275
         Legal Assistants            $55 - $135

As reported in the Troubled Company Reporter on May 29, 2015,
McAfee & Taft may also seek reimbursement or payment of charges for
services and expenses customarily invoiced by law firms in addition
to fees for legal services performed in connection with its
engagement.

Ross A. Plourde, Esq., a member of the law firm McAfee & Taft, A
Professional Corporation, in Oklahoma City, Oklahoma, assures the
Court that his firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

Additionally, from time to time beginning in 1991 McAfee & Taft
provided bank regulatory advice to Frontier State Bank, Mr. Plourde
further discloses.  Any such services terminated prior to 2006, he
says.

Lastly, McAfee & Taft currently represents another bank (which is
not a creditor of the Debtor and has no relationship with the
Debtor), one of the shareholders of which is the shareholder of
Frontier State Bank, with respect to the sale of that bank, Mr.
Plourde further discloses.

                 About Lonestar Geophysical

Lonestar Geophysical Surveys, LLC, which acquires seismic data and
provides services and products to the oil and gas industry, sought
bankruptcy protection (Bankr. W.D. Okla. Case No. 15-11872) in
Oklahoma City on May 18, 2015.

The Debtor tapped Ross A. Plourde, Esq., at McAfee & Taft, as
counsel.

Judge Hon. Sarah A. Hall is assigned to the case.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due Sept. 15, 2015.  Governmental proofs
of claim are due Nov. 16, 2015.


LUMBERMENS UNDERWRITING: Put Into Rehabilitation
------------------------------------------------
A judge has placed Lumbermen's Underwriting Alliance into
rehabilitation and turned it over to regulators at the Missouri
Department of Insurance.  Department Director John M. Huff has been
named receiver of the LUA, which allows the Director, as receiver,
to take over operations of the company.

LUA faced financial difficulty when one of its largest professional
employer organization insureds, TS Employment, failed to fully fund
collateral obligations and filed Chapter 11 bankruptcy.  LUA,
through its attorney-in-fact, U.S. Epperson, consented to the
rehabilitation judgment.

Rehabilitation is a legal step taken by the Court to protect
policyholders by preserving the company's assets.  The Director as
the rehabilitator assumes management of the company, attempts to
correct existing problems, continues operations, maintains
policyholder accounting and develops a plan of rehabilitation or
petitions the Court for liquidation.

With a rehabilitation, the Director's priority will be to process
existing claims.  Policies will continue pursuant to their terms
and conditions.  Policyholders must continue making their premium
payments to keep their insurance coverage intact.  Payments should
continue to be sent to LUA.

"Putting Lumbermen's into rehabilitation allows us to ensure the
company's assets are handled properly, so that claims are paid as
fully as possible," said Mr. Huff.

About the Missouri Department of Insurance, Financial Institutions
& Professional Registration

The Missouri Department of Insurance, Financial Institutions and
Professional Registration is responsible for consumer protection
through the regulation of financial industries and professionals.
The department's seven divisions work to enforce state regulations
both efficiently and effectively while encouraging a competitive
environment for industries and professions to ensure consumers have
access to quality products.

                 About Lumbermen's Underwriting

Lumbermen's Underwriting Alliance --
www.lumbermensunderwriting.com/ -- a Florida-based insurance
company.  It specializes in providing property and casualty
insurance to the forest products industry, generally consisting of
lumber and sawmill operations.  Over time, LUA expanded its
offerings, and therefore its membership, to a broader range of
industries and insurance coverages.  By 2014, LUA was providing
property allied lines, inland marine, earthquake, and workers'
compensation coverage to assisted living facilities and the food
processing industry, as well as the forest products industry.  LUA
also issued large deductible workers' compensation plans for
professional employer organizations.

LUA had approximately 3,000 policyholders and 6,080 open workers
compensation claims with the largest number of claims being in the
State of California.


MARTINSBURG PIKE: Case Summary & 4 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Martinsburg Pike Associates, LLC
        4150 Martinsburg Pike
        P.O. Box 128
        Clear Brook, VA 22624

Case No.: 15-50598

Nature of Business: Mechanical contractor

Chapter 11 Petition Date: June 10, 2015

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

Judge: Hon. Rebecca B. Connelly

Debtor's Counsel: Frank B. Bredimus, Esq.
                  FRANK BREDIMUS
                  P. O. Box 535
                  Hamilton, VA 20159
                  Tel: 571-344-2278
                  Email: Fbredimus@aol.com

Total Assets: $3.5 million

Total Liabilities: $2.3 million

The petition was signed by Thomas J. Dick, vice president.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/vawb15-50598.pdf


MDC PARTNERS: S&P Affirms 'B' CCR, Outlook Remains Stable
---------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'B'
corporate credit rating on New York City-based MDC Partners Inc.
The rating outlook remains stable.

At the same time, S&P raised its issue-level rating on the
company's senior unsecured debt to 'B' from 'B-' and revised the
recovery rating to '4' from '5'.  The '4' recovery ratings
indicates S&P's expectations for average recovery (30%-50%; upper
half of the range) of principal in the event of a payment default.


The revised business risk profile assessment reflects the company's
healthy business prospects, greater scale, and improved margins, in
S&P's view, which are on par with those of its much larger ad
agency peers.

The company has consistently reported organic revenue growth rates
above those of its ad agency peers since 2008, and S&P expects this
trend to continue.  As a result, S&P revised its business risk
profile to "fair" from "weak," according to its criteria.

MDC is a provider of marketing services primarily in the U.S.
(which represented 81% of revenue in 2014), with a presence in
Canada (12%), and other countries (7%).  The company's subsidiaries
provide a comprehensive range of marketing communications and
consulting services.

Although MDC is much smaller than its global ad agency peers, the
company has a well-positioned, defensible position within the
advertising industry.  A number of MDC's key operating
subsidiaries, such as Crispin Porter + Bogusky, 72andSunny, and
Anomaly, have strong creative reputations that differentiate the
company from its larger peers. In addition, the company has grown
organically and through acquisitions, and its strong digital
capabilities positions it well to meet the growing demand for
nontraditional advertising.  These strengths are offset by the
company's relatively small agency network compared to that of the
larger global ad agencies, its limited global presence, and its
smaller exposure to higher-margin media buying business.

"The stable outlook is based on our expectation that MDC will
maintain adjusted leverage in the 5x area over the next year," said
Standard & Poor's credit analyst Naveen Sarma.  "We view an upgrade
as more likely than a downgrade during that time."

S&P could lower the rating on MDC if the SEC issues result in a
loss of clients, management changes, or material financial changes
that hurt the company's credit measures or operating performance.
S&P would then revise its business risk assessment to "weak" from
"fair."

S&P could raise the rating if the SEC issues clear with no material
impact on the company or its credit quality (in which case S&P
could revise the management and governance assessment to "fair"
from "weak"), or if the company lowers and commits to maintaining
adjusted leverage below 5x.



MINT RESTAURANT: Remains Open; IRS Is Among Largest Creditors
-------------------------------------------------------------
Michael Simmons at Madison County Journal reports that Mint the
Restaurant remains open despite filing for Chapter 11 bankruptcy
protection.

As reported by the Troubled Company Reporter on June 4, 2015, Mint
Restaurant, LLC, filed for Chapter 11 bankruptcy protection (Bankr.
S.D. Miss. Case No. 15-01204) on April 10, 2015.  R. Michael Bolen,
Esq., at Hood & Bolen, PLLC, serves as the Company's bankruptcy
counsel.  Judge Edward Ellington presides over the case.

County Journal relates that the Restaurant's yearly income went
from $1.8 million in 2013 to $1.4 million in 2014, and to $345,000
as of the Petition Date.

Court documents show that the Restaurant has up to 49 creditors,
and that it listed $618,400 in total liabilities, with half of that
as unsecured non-priority claims.  County Journal adds that the
Restaurant listed $59,000 in total assets.  The report states that
the largest creditors include the IRS, with debts reported of
$185,000, and the Mississippi Department of Revenue, with debts
reported at $125,000.

Mint Restaurant, LLC, located at the Renaissance in Ridgeland,
Mississippi, is owned by Patrick Kelly.  It was formed in 2007.


MUSCLEPHARM CORPORATION: Shareholders Raise Liquidity Concerns
--------------------------------------------------------------
Wynnefield Capital Management, LLC and its affiliates, significant
shareholders in MusclePharm Corporation, sent a letter to the
Company's Board of Directors requesting that the Board take
immediate action to address their serious concerns with the
Company's deficiencies in the areas of liquidity, corporate
governance, and transparency.

Despite the Company's positive statements regarding its cash
position and liquidity, the Wynnefield Reporting Persons
believe that indicators strongly suggest that the true picture
regarding liquidity may be very different.  They add that the
Company could be out of compliance with certain financial covenants
under its credit facility.

The Wynnefield Reporting Persons are also troubled by the Company's
May 8, 2015, amendments to its By-laws, because of both the new
hurdles and burdens they place on shareholder suffrage; especially
when considered in light of the Company's recent erratic corporate
governance events.  The By-laws were amended:

   i) to require that shareholders of the Company requesting a
      special meeting provide, in their request to the Company,
      certain specified information and set forth other
      requirements regarding delivery of that request;

  ii) to require that shareholders intending to act by written
      consent request a record date from the Company for that
      action, which request must include certain specified
      information and set forth other requirements regarding the
      delivery of written consents;

iii) to require certain shareholder disclosure requirements
      regarding advance notice of shareholder proposals and
      shareholder nominations;

  iv) to provide that only the Board can fill vacancies of the
      Board;

   v) to provide that directors may be removed by a two-thirds (as
      opposed to majority) vote of the shareholders, as
      contemplated by NRS 78.335; and

  vi) to provide that that any person acquiring equity in the
      Company will be deemed to have notice of and consented to
      Article VII, Section 5 of the By-laws, relating to choice of

      forum where to bring disputes.

"We believe these provisions, which are viewed with disfavor by
ISS, are nothing more than a thinly veiled attempt to entrench
management and diminish their accountability to the shareholders of
the Company," they said.

The Wynnefield Reporting Persons believe the fiduciary duties of
the Company's directors require the Board to take immediate action
to address these issues and call upon the Board to take the
following action:

   1) Issue an immediate press release correcting any material
      misstatements regarding the Company's current liquidity and
      cash flow position.

    2) Announce the opening of a window for shareholder submission
      of nominees for election to the Company's Board, including
      nominees to fill the newly created seventh board seat, in
      accordance with Nevada corporate law.

   3) Provide a full explanation surrounding the mass resignation
      and replacement of the three independent directors of the
      Company.
   
   4) Engage a qualified investment bank to assist management and
      the Board to fully explore all strategic opportunities to
      increase shareholder value, including auction of the
      Company.

                         About MusclePharm

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTC BB: MSLP) -- http://www.muslepharm.com/-- is a healthy life-
style company that develops and manufactures a full line of
National Science Foundation approved nutritional supplements that
are 100 percent free of banned substances.  MusclePharm is sold in
over 120 countries and available in over 5,000 U.S. retail
outlets, including GNC and Vitamin Shoppe.  MusclePharm products
are also sold in over 100 online stores, including
bodybuilding.com, Amazon.com and Vitacost.com.

MusclePharm Corporation reported a net loss of $13.8 million in
2014, a net loss of $17.7 million in 2013 and a net loss of $19
million in 2012.

As of March 31, 2015, the Company had $67.9 million in total
assets, $46.9 million in total liabilities, and $20.96 million in
total stockholders' equity.


NATROL INC: $232,000 in Claims Switched Hands in April 2015
-----------------------------------------------------------
In the Chapter 11 cases of LEAF123 Inc. fka Natrol Inc., et al.,
two claims switched hands on April 24, 2015:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Core Opportunities II         Core Opportunities      $4,724.00
Master Fund, LP               Fund, LP  

Core Opportunities II         Core Opportunities    $226,813.00
Master Fund, LP               Qualified Master
                              Fund, LP  

                         About Natrol, Inc.

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

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

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

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

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

                            *     *     *

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

Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the
District of Delaware on April 2, 2015, approved the disclosure
statement explaining the First Amended Joint Liquidating Plan of
Leaf123, Inc., fka Natrol, Inc., and its debtor affiliates.

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


NATROL INC: Kochhar Okayed as Indian Counsel Effective April 21
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware entered a
revised order authorizing Leaf123, Inc., formerly known as Natrol,
Inc., et al., to employ Kochhar & Co., as Indian counsel, nunc pro
tunc to April 21, 2015.

The Court previously authorized the retention of Kochhar & Co.  But
subsequent to the entry of the order, the Debtors realized that the
application inadvertently failed to request that the retention be
approved nunc pro tunc to April 21, 2015.  

In light of this, the Debtors submitted a revised proposed order
providing that the retention is effective as of April 21, 2015.

The Debtors reached out to the U.S. Trustee, explained the issue,
and provided the U.S. Trustee with a copy of the revised order well
as the black-line.  The U.S. Trustee has informed the Debtors that
it has no objection to entry of the revised order without further
notice or hearing.

To the best of the Debtor's knowledge Kochhar does not hold nor
represent an interest adverse to the Debtors' estate or of any
class of creditors.

                        About Natrol, Inc.

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

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

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

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

                            *     *     *

Aurobindo Pharma USA Inc., completed in December 2014 the purchase
of the assets for $132 million cash plus assumption of specified
debt.  Under a settlement between Natrol and the creditors'
committee, secured lender Cerberus Business Finance LLC was paid
in
full from the proceeds of the sale.  The Debtors changed their
names to Leaf123, Inc., et al., following the sale.

Leaf123, Inc., f/k/a Natrol Inc., and its debtor affiliates filed
a
liquidating Chapter 11 plan designed to pay general unsecured
creditors in full, with interest.



NEONODE INC: Stockholders Reelect 2 Directors
---------------------------------------------
Neonode, Inc., held its annual meeting of stockholders on June 8,
2015, at which the stockholders:

   1. reelected Per Bystedt to the Board of Directors for a three
       year term;

   2. reelected Thomas Eriksson to the Board of Directors for a
      three year term;

   3. approved, on an advisory basis, the compensation of  
      executive officers;

   4. approved the 2015 Stock Incentive Plan; and

   5. ratified the appointment of KMJ Corbin & Company LLC to
      serve as the Company's independent auditors for the year
      ended Dec. 31, 2015.

                         About Neonode Inc.

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

Neonode reported a net loss of $14.2 million in 2014, a net loss of
$13.08 million in 2013 and a net loss of $9.28 million in 2012.


NET ELEMENT: Registers 53.6 Million Shares for Resale
-----------------------------------------------------
Net Element, Inc. filed with the Securities and Exchange Commission
a Form S-3 registration statement relating to the resale, from time
to time, in one or more offerings, by Candlewood Special Situations
Master Fund, Ltd., CWD OC 522 Master Fund, Ltd., Flagler Master
Fund SPC Ltd. - Class A Portfolio and Tenor Special Situations Fund
LP of up to 53,600,000 shares of Common Stock of the Company.

The Company's Common Stock is listed on The NASDAQ Capital Market
under the symbol "NETE."  On June 8, 2015, the last reported price
of a share of the Company's Common Stock on The NASDAQ Capital
Market was $0.63.

A full-text copy of the preliminary prospectus is available at:

                        http://is.gd/3ykhz4

                         About Net Element

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

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

As of March 31, 2015, the Company had $14.02 million in total
assets, $10.3 million in total liabilities and $3.73 million in
total stockholders' equity.

BDO USA, LLP, in Miami, Florida, issued a "going concern"
qualification in its report on the consolidated financial
statements for the year ended Dec. 31, 2014.  The accounting firm
said that the Company has suffered recurring losses from
operations and has used substantial amounts of cash to fund its
operating activities that raise substantial doubt about its ability
to continue as a going concern.


NORTHWEST BANCORP: Oct. 26 Set as Bar Date for Governmental Units
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois has
established Oct. 26, 2015, as the deadline for governmental units
to file prepetition claims against Northwest Bancorporation of
Illinois, Inc.  The Court also set May 29, 2015, as the general
deadline for all claimants, other than governmental units, to file
prepetition claims.

                  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.

The Debtor disclosed $20.3 million in assets and $51.3 million in
liabilities as of the Chapter 11 filing.

Northwest Bancorporation 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.



PACIFIC STEEL: Snow And Galgiani Sells $8.9K Claim to Sonar Credit
------------------------------------------------------------------
In the Chapter 11 cases of Pacific Steel Casting Company, nka
Second Street Properties, et al., one claim switched hands on April
9, 2015:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Sonar Credit Partners     Snow And Galgiani Company   $8,884.30
III, LLC

                    About Pacific Steel Casting,
                         Berkeley Properties

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

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

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

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

Bankruptcy Judge Roger L. Efremsky authorized the Debtors to revise
case caption to reflect the name change after the sale of assets.
The case caption now reflects: Second Street Properties, and
Berkeley Properties, LLC.  The Debtors stated that the assets sold
included the trade name "Pacific Steel Casting Company" and the
commonly used abbreviation and trademark "PSC".   The Debtors
agreed with the buyer that the Debtors would stop using that name
immediately after the closing.


PELICAN CAY: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Pelican Cay Harbor LLC
        299 Morris Avenue
        Key Largo, FL 33037

Case No.: 15-20557

Chapter 11 Petition Date: June 10, 2015

Court: United States Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Hon. Laurel M Isicoff

Debtor's Counsel: Joel M. Aresty, Esq.
                  JOEL M. ARESTY P.A.
                  309 1st Ave S
                  Tierra Verde, FL 33715
                  Tel: 305.899.9876
                  Fax: 305.723.7893
                  Email: aresty@mac.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Suzan Wiese, authorized representative.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/flsb15-20557.pdf


PHILLIPS INVESTMENTS: Plan Filing Date Extended to July 31
----------------------------------------------------------
Judge Mary Grace Diehl of the U.S. Bankruptcy Court for the
Northern District of Georgia, Atlanta Division, extended the period
by which Phillips Investments, LLC, has exclusive right to file a
Chapter 11 plan through and including July 31, 2015, and the period
by which the Debtor has exclusive right to solicit acceptances of
the plan through and including Sept. 29, 2015.

In support of its extension request, the Debtor explained that it
is attempting to negotiate either a sale of its remaining real
estate or a refinancing of its indebtedness to its secured
creditor.  The Debtor said it believes it is close to achieving at
least one of these two goals, subject to the approval of the Court.
The secured creditor agreed that the Debtor extend the use of cash
collateral through July 31, 2015.  If the exclusivity period were
to terminate before that date, the termination would constitute a
default under the provisions of the cash collateral order, the
Debtor told the Court.

The Debtor is represented by:

         J. Robert Williamson, Esq.
         J. Hayden Kepner, Jr., Esq.
         Ashley Reynolds Ray, Esq.
         SCROGGINS & WILLIAMSON, P.C.
         1500 Candler Building
         127 Peachtree Street, NE
         Atlanta, GA 30303
         Tel: (404) 893-3880
         Fax: (404) 893-3886
         Email: rwilliamson@swlawfirm.com
                hkepner@swlawfirm.com
                aray@swlawfirm.com

                     About Phillips Investments

Phillips Investments, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Ga. Case No. 14-61444) on June 11, 2014.  Ly Phillips
signed the petition as managing member.

Phillips Investments owns several parcels of improved commercial
real estate from which it operates two retail shopping centers.
The Debtor disclosed $29,558,424 in assets and $28,667,234 in
liabilities as of the Chapter 11 filing.  Scroggins & Williamson,
P.C., serves as the Debtor's counsel.  Judge Mary Grace Diehl
presides over the case.


QUICKSILVER RESOURCES: Incurs $116-Mil. Net Loss for Q1
-------------------------------------------------------
Quicksilver Resources Inc. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing a
net loss of $116 million on $105 million of total revenue for the
three months ended March 31, 2015, compared with a net loss of
$58.8 million on $91.8 million of total revenue for the same period
in 2014.

The Company's balance sheet at March 31, 2015, showed
$1.08 billion in total assets, $2.35 billion in total liabilities,
and a stockholders' deficit of $1.26 billion.

As a result of sustained losses and the Company's Chapter 11
proceedings, the realization of assets and satisfaction of
liabilities, without substantial adjustments and/or changes in
ownership, are subject to uncertainty.  Given the uncertainty
surrounding its Chapter 11 proceedings, there is substantial doubt
about the Company's ability to continue as a going concern.

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

                       http://is.gd/Jarc5C

                   About Quicksilver Resources

Quicksilver Resources Inc. (OTCQB: KWKA) is an exploration and
production company engaged in the development and production of
long-lived natural gas and oil properties onshore North America.
Based in Fort Worth, Texas, the company claims to be a leader in
the development and production from unconventional reservoirs
including shale gas, and coal bed methane.  Following more than 30
years of operating as a private company, Quicksilver became public
in 1999.

The company has U.S. offices in Fort Worth, Texas; Glen Rose,
Texas; Steamboat Springs, Colorado; Craig, Colorado and Cut Bank,
Montana.  The Company's Canadian subsidiary, Quicksilver Resources
Canada Inc., is headquartered in Calgary, Alberta.

On March 17, 2015, Quicksilver Resources Inc. and certain of its
affiliates filed voluntary petitions for relief under Chapter 11
of
title 11 of the United States Code in Delaware.  The Debtors are
seeking joint administration under the main case, In re
Quicksilver Resources Inc. Case No. 15-10585.  Quicksilver's
Canadian subsidiaries were not included in the chapter 11 filing.

The Company's legal advisors are Akin Gump Strauss Hauer & Feld
LLP in the U.S. and Bennett Jones in Canada.  Richards Layton &
Finger, P.A., is legal co-counsel in the Chapter 11 cases.
Houlihan Lokey Capital, Inc. is serving as financial advisor.
Garden City Group Inc. is the claims and noticing agent.

The Company's balance sheet at Dec. 31, 2014, showed $1.21 billion
in total assets, $2.35 billion in total liabilities and total
stockholders' deficit of $1.14 billion.

The U.S. Trustee for Region 3 appointed five creditors of
Quicksilver Resources Inc. to serve on the official committee of
unsecured creditors.

                          *     *     *

The Company reported a net loss of $103.1 million on $569 million
of total revenue for the year ended Dec. 31, 2014, compared with
net income of $162 million on $562 million of total revenue in
2013.



R & S ST. ROSE: Hearing on Plan Continued to July 1
---------------------------------------------------
The U.S. Bankruptcy Court continued the June 10 hearing on R & S St
Rose Lenders, LLC's Amended Chapter 11 Plan until July 1, 2015, at
9:30 a.m.  The hearing has been continued several times.

According to the Fourth Amended Disclosure Statement explaining
Debtor's Plan of Liquidation, the General Unsecured Claims will be
paid on the Effective Date, or as otherwise provided in the
Confirmation Order, in the following manner: $520,000 will be paid
to the General Unsecured Claims Pro Rata.  Thus, each claimant will
receive payment equal to approximately 43.3% of their claim.

The proposed payments to Holders of Class 1 Lender Claims and Class
2 General Unsecured Claims total $12,197,000.  The Debtor possesses
funds sufficient to make these payments.  The funds derive from the
sale proceeds distributed to Debtor from the sale of real property
in satisfaction of the Promissory Note.  After deducting the
estimated  amount necessary to pay Administrative Expenses, and
reserving funds sufficient to pay the ongoing legal expenses
associated with two appeals that Debtor is presently a party to,
the Debtor will have the requisite $12,197,000 to pay the Allowed
Class 1 and Class 2 claims as anticipated under the Plan.

A Liquidation Trust will be established with the primary purpose of
providing legal representation and defense of the Debtor in any and
all litigation appeals in which Debtor is named.

Copies of the Amended Disclosure Statements are available for free
at:

          http://bankrupt.com/misc/R&SStRose_347_2DS.pdf
          http://bankrupt.com/misc/R&SStRose_371_4DS.pdf

                    About R & S St. Rose Lenders

R & S St. Rose Lenders, LLC, filed for Chapter 11 bankruptcy
protection (Bankr. D. Nev. Case No. 11-14973) on April 4, 2011.
Zachariah Larson, Esq., and Sarah Larson, Esq., at Larson &
Stephens, LLC, in Las Vegas, serve as bankruptcy counsel.  David
J. Merrill, P.C. serves as special counsel.  The Debtor, in its
amended schedules, disclosed $12.04 million in assets and
$24.5 million in liabilities.


REED AND BARTON: Gets Final Approval to Access $2.3-Mil. DIP Loan
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts
authorized Reed and Barton Corporation to obtain $2,371,810 in
debtor-in-possession postpetition financing from Rockland Trust
Company, which loan will be used to fund the Debtor's day-to-day
operations and working capital needs.

Furthermore, the Court authorized the Debtor to use cash collateral
from the DIP lender.  The Debtor granted the DIP lender certain
adequate protection including, among other things, adequate
protection replacement liens and adequate protection superpriority
claims.

According to the Debtor, an immediate need exist for it to obtain
funds from the DIP facility in order to continue operations and
administer and preserve the value of its estate.  The ability of
the Debtor to finance its operations, to preserve and maintain the
value of the Debtor's assets, and to maximize a return for all
creditors requires the availability of working capital from the DIP
facility, the absence of which would immediately and irreparably
harm the Debtor, its estate, creditors, equity holders, and the
possibility for a successful reorganization or sale of the Debtor's
assets.

The Debtor granted the DIP lender first priority priming, valid,
perfected, and enforceable lien, subject only to the professional
expense carve out, and the permitted prior liens, upon
substantially all of the Debtor's real and personal property as
provided in and as contemplated by the final order and DIP
financing agreements.  In addition, the Debtor granted the DIP
lender a superpriority administrative claims in respect of all
obligations under the DIP agreements.

                       About Reed and Barton

Founded in 1824, Reed and Barton Corporation is a designer and
distributor of high quality silverware and tableware, along with
flatware, crystal drinkware, picture frames, ornaments, and baby
giftware.  Reed and Barton, which sells products with the Reed &
Barton, Lunt, R&B EveryDay, and Williamsburg brands, is based in
Taunton, Massachusetts.  The privately held company's stock is
owned by 28 record shareholders who either are descendants of Henry
Reed or trusts for their benefit.  Aside from selling its products
in department stores and TV shopping networks, the company has an
on-site factory store in Taunton and a showroom in Atlanta,
Georgia.

Reed and Barton sought Chapter 11 bankruptcy protection (Bankr. D.
Mass. Case No. 15-10534) in Boston, Massachusetts, on Feb. 17,
2015.  The case is assigned to Judge Henry J. Boroff.

The Debtor has tapped Holland & Knight, in Boston, as counsel;
Financo, LLC, as investment banker; and Verdolino & Lowey, P.C., as
accountant.

The Debtor disclosed $18.3 million in assets and $25.7 million in
liabilities as of the Chapter 11 filing.

The U.S. Trustee for Region 1 appointed three creditors to serve on
the official committee of unsecured creditors.


ROOMLINX INC: KMJ Corbin Expresses Going Concern Doubt
------------------------------------------------------
Roomlinx, Inc., reported a net loss of $2.67 million on $7.37
million of total revenues in 2014, compared with a net loss of
$4.15 million on $9.45 million of total revenues in 2013.

KMJ Corbin & Company LLP expressed substantial doubt about the
Company's ability to continue as a going concern, citing that the
Company has incurred significant losses, has had negative cash
flows from operations, and at Dec. 31, 2014, has an accumulated
deficit of $44.4 million.

The Company's balance sheet at Dec. 31, 2014, showed $3.87 million
in total assets, $10.2 million in total liabilities, and a total
deficit of $6.29 million.

A copy of the Form 10-K filed with the U.S. Securities and Exchange
Commission is available at http://is.gd/C4fax7

Headquartered in Bloomfield, Colorado, RoomLinX, Inc. (PINKSHEETS:
RMLX) -- http://www.roomlinx.com/-- is a pioneer in Broadband   
High Speed Wireless Internet connectivity, specializing in
providing the most advanced Wi-Fi Wireless and Wired networking
solutions for High Speed Internet access to Hotel Guests,
Convention Center Exhibitors, Corporate Apartments, and Special
Event participants.  Designing, deploying and servicing site-
specific wireless networks for the hospitality industry is
RoomLinX's core competency.



RYNARD PROPERTIES:  Seeks Authority to Amend Cash Collateral Budget
-------------------------------------------------------------------
Rynard Properties Ridgecrest, LP, seeks authority from the U.S.
Bankruptcy Court for the Western District of Tennessee, Western
Division, to amend the budget governing the use of its cash
collateral to include the administrative costs of its accountant.

The Debtor tells the Court that it sought to employ The Marston
Group, PLC, as its accountants to complete and correct all of the
monthly operating report and file corrected reports and ongoing
monthly operating reports.  Marston Group sought a retainer and
estimated work at approximately $1,000 per month, saying its work
is necessary and the fees sought are reasonable under the
circumstances.  In that regard, the Debtor says it needs to amend
the Budget under the cash collateral order to include the
administrative costs of the retainer and the monthly budget for the
fees and expenses from the application of Marston.

The Debtor is indebted to Fannie Mae in the approximate amount of
$6,000,000 and Tennessee Housing Development Agency holds second
mortgage behind Fannie Mae in the approximate amount of $2,500,000.
Fannie Mae holds a security interest in all the Debtor's accounts,
accounts receivable, rents and real property.  The Debtor's cash,
accounts receivable and rents constitute cash collateral. Fannie
Mae is the Debtor's primary lender.

The Court sets the motion for hearing on June 17, 2015, at 10:00
a.m., and deadline to file objections on June 16.

The Debtor is represented by:

         Toni Campbell Parker, Esq.
         LAW OFFICE OF TONI CAMPBELL PARKER
         615 Oakleaf Office Lane
         Memphis, TN 38117
         Tel: (901) 683-0099
         Fax: (866) 489-7938
         Email: tparker002@att.net

               About Rynard Properties Ridgecrest

Rynard Properties Ridgecrest LP is a Tennessee limited
partnership.  Its principal place of business is 2881 Rangeline
Road, Memphis, TN 38127, and the Debtor operates a 256 unit
multifamily apartment complex of Section 8 housing named
Ridgecrest Apartments and currently has TESCO operating the
complex as leasing agent.

The Debtor filed a Chapter 11 bankruptcy petition (Bankr. W.D.
Tenn. Case No. 14-22674) on March 13, 2014.  John Bartle signed
the petition as secretary/treasurer of Ridgecrest LLC, general
partner of the Debtor.  In its schedules, the Debtor disclosed
$16.2 million in total assets and $8.73 million in total
liabilities.  Toni Campbell Parker serves as the Debtor's counsel.
Judge Jennie D. Latta oversees the case.

The U.S. Trustee for Region 8 has notified the Bankruptcy Court
that it was unable to appoint an official committee of unsecured
creditors.


SEARS HOLDINGS: Announces Commencement of Seritage Rights Offering
------------------------------------------------------------------
Sears Holdings Corporation announced that Seritage Growth
Properties has commenced a rights offering for at least 53,298,899
Class A common shares of Seritage pursuant to a Registration
Statement on Form S-11 filed with the Securities and Exchange
Commission.  The SEC declared the Registration Statement effective
on June 9, 2015.

Under the terms of the rights offering, Sears Holdings is
distributing to its stockholders, at no charge, one transferable
subscription right for every share of Sears Holdings common stock
held of record as of 5:00 p.m., New York City time, on June 11,
2015, the previously announced record date.  Each subscription
right entitles the holder thereof to purchase one half of one
common share of Seritage for each share of Sears Holdings common
stock owned as of the record date at a purchase price of $29.58 per
whole share.  In addition to being able to purchase their pro rata
portion of the shares offered based on their ownership as of the
record date for the rights offering, Sears Holdings stockholders
may oversubscribe for additional Seritage common shares as
described in the Registration Statement.

The proceeds from the rights offering will be used to fund a
portion of the purchase price for the acquisition from Sears
Holdings of 235 Sears- and Kmart-branded stores and Sears Holdings'
50% interests in joint ventures with each of Simon Property Group,
Inc., General Growth Properties, Inc. and The Macerich Company,
which joint ventures collectively hold an additional 31
properties.

Seritage intends to lease the substantial majority of the acquired
properties, including those owned by the joint ventures, back to
Sears Holdings, with the remaining stores being leased to third
parties.  Under the terms of the master leases with Sears Holdings
and the joint ventures, Seritage has the right to recapture space
from Sears Holdings, allowing Seritage to reconfigure and rent the
recaptured space to third-party tenants over time.

The subscription rights are listed on the New York Stock Exchange
under the symbol "SRGRT."  Unless the rights offering is extended,
trading of the subscription rights on the NYSE will cease at the
close of business on June 26, 2015.

As soon as practicable after June 11, 2015, the record date for the
rights offering, Sears Holdings will distribute subscription rights
certificates to individuals who owned Sears Holdings common stock
at 5:00 p.m., New York City time, on June 11, 2015.  The rights
offering will expire at 5:00 p.m., New York City time, on July 2,
2015, unless extended.

The rights offering will be made only by means of a prospectus
filed with the SEC.  The prospectus, including any supplements or
amendments thereto, contains important information about the rights
offering and Seritage, and holders of subscription rights are urged
to read the prospectus carefully.  Questions about the rights
offering or requests for additional copies of the rights offering
documents may be directed to Georgeson Inc., Sears Holdings'
information agent for the rights offering, by calling (866)
257-5415 (toll-free) or emailing SearsSeritageOffer@georgeson.com.


                            About Sears

Sears Holdings Corporation (NASDAQ: SHLD) --
http://www.searsholdings.com/-- is an integrated retailer focused
on seamlessly connecting the digital and physical shopping
experiences to serve members.  Sears Holdings is home to Shop Your
Waytm, a social shopping platform offering members rewards for
shopping at Sears and Kmart as well as with other retail partners
across categories important to them.

The Company operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation, with more than 2,000 full-
line and specialty retail stores in the United States and Canada.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  Skadden, Arps, Slate, Meagher & Flom, LLP,
represented Kmart in its restructuring efforts.  Its balance sheet
showed $16,287,000,000 in assets and $10,348,000,000 in debts when
it sought chapter 11 protection.

Kmart bought Sears, Roebuck & Co., for $11 billion to create the
third-largest U.S. retailer, behind Wal-Mart and Target, and
generate $55 billion in annual revenues.  Kmart completed its
merger with Sears on March 24, 2005.

For the year ended Jan. 31, 2015, the Company reported a net loss
attributable to Holdings' shareholders of $1.68 billion compared
to a net loss attributable to Holdings' shareholders of $1.36
billion for the year ended Feb. 1, 2014.  As of Jan. 31, 2015, the
Company had $13.20 billion in total assets, $14.15 billion in total
liabilities and a $945 million total deficit.

                            *     *     *

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to 'Caa1' from 'B3'.  The rating
outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year.  The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period.  For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year.  Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014.  "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy.  He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."

As reported by the TCR on March 26, 2014, Standard & Poor's
Ratings Services affirmed its ratings on the Hoffman Estate, Ill.-
based Sears Holdings Corp., including the 'CCC+' corporate credit
rating.

Fitch Ratings had downgraded its long-term Issuer Default Ratings
(IDR) on Sears Holdings Corporation (Holdings) and its various
subsidiary entities (collectively, Sears) to 'CC' from 'CCC',
according to a TCR report dated Sept. 12, 2014.


SG BLOCKS: Incurs $357K Net Loss in First Quarter
-------------------------------------------------
SG Blocks, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net loss
of $357,000 on $402,000 of revenue for the three months ended March
31, 2015, compared to a net loss of $518,000 on $1.03 million for
the same period in the prior year.

The Company's balance sheet at March 31, 2015, showed $1.58 million
in total assets, $5.22 million in total liabilities and total
stockholders' deficit of $3.64 million.

Through March 31, 2015, the Company has incurred an accumulated
deficiency since inception of $11.09 million.  At March 31, 2015,
the Company had a cash balance of $578,592.  The Company expects
that through the next 10 to 16 months, the capital requirements to
fund the Company's growth will consume all of the cash flows that
it expects to generate from its operations, as well as any proceeds
of any other issuances of senior convertible debt securities.  The
Company further believes that during this period, while the Company
is focusing on the growth and expansion of its business, the gross
profit that it expects to generate from operations will not
generate sufficient funds to cover expected operating costs.
Accordingly, the Company requires further external funding to
sustain operations and to follow through on the execution of its
business plan.  There is no assurance that the Company's plans will
materialize and/or that the Company will be successful in funding
estimated cash shortfalls through additional debt or equity capital
and through the cash generated by the Company's operations.  Given
these conditions, the Company's ability to continue as a going
concern is contingent upon it being able to secure an adequate
amount of debt or equity capital to enable it to meet its cash
requirements.  In addition, the Company's ability to continue as a
going concern must be considered in light of the problems, expenses
and complications frequently encountered by entrants into
established markets, the competitive environment in which the
Company operates and the current capital raising environment.
Since inception, the Company's operations have primarily been
funded through proceeds from equity and debt financings and sales
activity.  Although management believes that the Company has access
to capital resources, there are currently no commitments in place
for additional financing at this time, and there is no assurance
that the Company will be able to obtain funds on commercially
acceptable terms, if at all.  These factors, among others, raise
substantial doubt about the Company's ability to continue as a
going concern.

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

                       http://is.gd/FCC6FN
                          
New York-based SG Blocks, Inc., provides code engineered cargo
shipping containers.

Marcum LLP expressed substantial doubt about the Company's ability
to continue as a going concern, citing the Company's significant
operating losses.

The Company reported a net loss of $1.54 million on $6.04 million
of revenue for the year ended Dec. 31, 2014, compared with a net
loss of $2.16 million on $5.73 million of revenue in the prior
year.

The Company's balance sheet at Dec. 31, 2014, showed $1.35 million
in total assets, $4.68 million in total liabilities and total
stockholders' deficit of $3.33 million.


SOCKET MOBILE: Reports $71.6K Net Loss in First Quarter
-------------------------------------------------------
Socket Mobile, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $71,600 on $4 million of revenue for the
three months ended March 31, 2015, compared with a net loss of
$71,424 on $3.8 million of revenues for the same period in the
prior year.

The Company's balance sheet at March 31, 2015, showed $8.05 million
in total assets, $6.89 million in total liabilities, and
stockholders' equity of $1.16 million.

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

                         http://is.gd/hNIV6F

Socket Mobile, Inc., is a producer of mobile cordless barcode
scanners and handheld computers for the business mobility markets.
The Newark, California-based Company offers easy-to-use software
developer kits to application developers that enable the
integration of its barcode scanning software into mobile
applications running on smart phones, tablets and mobile
computers.

Following the 2014 results, Sadler, Gibb & Associates, LLC,
expressed substantial doubt about the Company's ability to continue
as a going concern, citing that the Company has an accumulated
deficit of $60.7 million and a working capital deficit.

The Company reported net income of $432,000 on $17.02 million of
revenues for the year ended Dec. 31, 2014, compared with a net loss
of $620,000 on $15.7 million of revenues in the prior year.



SOLAR POWER: Announces $50 Million Share Repurchase Program
-----------------------------------------------------------
Solar Power, Inc.'s Board of Directors has approved a program to
repurchase up to US$50 million of SPI's common stocks over the next
six-month period, ending on Dec. 7, 2015.

SPI expects to purchase its common stock on the open market, in
negotiated transactions or otherwise in compliance with all of the
conditions of Rule 10b-18 and Rule 10b5-1 under the Securities
Exchange Act of 1934, as amended.  The timing of the common stocks
repurchased will be at the discretion of management and will depend
on a number of factors, including price, market conditions and
regulatory requirements.  SPI retains the right to limit, terminate
or extend the share repurchase program at any time without prior
notice.

Xiaofeng Peng, chairman of SPI stated, "The implementation of our
share repurchase program reflects the confidence that our Board and
management have in SPI's growth prospects and our commitment to
enhance value for our shareholders while retaining adequate
flexibility for future growth."

                         About Solar Power

Roseville, Cal.-based Solar Power, Inc., is a global solar
energy facility developer offering its own brand of high-
quality, low-cost distributed generation and utility-scale SEF
development services.  Primarily, the Company works directly with
and for developers around the world who hold large portfolios of
SEF projects for whom it serves as an engineering, procurement and
construction contractor.  The Company also performs as an
independent, turnkey SEF developer for one-off distributed
generation and utility-scale SEFs.

Solar Power reported a net loss of $5.19 million in 2014, a net
loss of $32.2 million in 2013 and a net loss of $25.4 million in
2012.

As of March 31, 2015, the Company had $649 million in total assets,
$379 million in total liabilities and $270 million in total equity.


SPHERIX INC: Reports $4.09-Mil. Loss in First Quarter
-----------------------------------------------------
Spherix Incorporated filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net loss
of $4.09 million on $2,000 of revenues for the three months ended
March 31, 2015, compared with a net loss of $7.96 million on $4,000
of revenues for the same period last year.

The Company's balance sheet at March 31, 2015, showed $57.4 million
in total assets, $1.84 million in total liabilities, $5.93 million
in redeemable preferred stock, and total stockholders' equity of
$49.6 million.

As a result of the Company's recurring operating losses, net
operating cash flow deficits and remaining obligations relating to
the redemption of its Series I preferred Stock, there is
substantial doubt about the Company's ability to continue as a
going concern.

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

                       http://is.gd/zTOvqu
                          
                   About Spherix Incorporated

Bethesda, Md.-based Spherix Incorporated (NASDAQ CM: SPEX)
-- http://www.spherix.com/-- was launched in 1967 as a scientific
research company, under the name Biospherics Research.  The
Company now leverages its scientific and technical expertise and
experience through its two subsidiaries -- Biospherics
Incorporated and Spherix Consulting, Inc.  Biospherics is
currently running a Phase 3 clinical trial to study the use of
D-tagatose as a treatment for Type 2 diabetes.  Its Spherix
Consulting subsidiary provides scientific and strategic support
for suppliers, manufacturers, distributors and retailers of
conventional foods, biotechnology-derived foods, medical foods,
infant formulas, food ingredients, dietary supplements, food
contact substances, pharmaceuticals, medical devices, consumer
products, and industrial chemicals and pesticides.

The Company reported a net loss of $30.5 million on $10,000 of
revenues for the year ended Dec. 31, 2014, compared to a net loss
of $18.0 million on $27,000 of revenues in the prior year.

Marcum LLP expressed substantial doubt about the Company's ability
to continue as a going concern, citing that the Company has
incurred significant losses and needs to raise additional funds to
meet its obligations and sustain its operations.





STANDARD REGISTER: Files Schedules of Assets and Liabilities
------------------------------------------------------------
The Standard Register Company filed with the U.S. Bankruptcy Court
for the District of Delaware its schedules of assets and
liabilities, and statement of financial affairs, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $22,021,326
  B. Personal Property          $251,926,260
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                              $310,154,411
  E. Creditors Holding
     Unsecured Priority
     Claims                                        
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $68,853,101
                                 -----------      -----------
        TOTAL                   $273,947,586     $379,007,512

A full-text copy of the Debtor's schedules and statements is
available for free at http://is.gd/PE0a0L

                     About Standard Register

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

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

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

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

Andrew R. Vara, U.S. trustee for Region 3, appointed seven
creditors to serve on the Official Committee of Unsecured Creditors
for the Debtors' bankruptcy cases.  Lowenstein Sandler LLP
represents the Committee.


STANDARD REGISTER: Proposes Up to $4.3MM Bonuses to Key Employees
-----------------------------------------------------------------
The Standard Register Company and its affiliated debtors seek
permission from the U.S. Bankruptcy Court for the District of
Delaware to pay incentive bonuses to certain employees through
their s key employee incentive plan.

The Debtors explained that they need approval of the key employee
incentive plan (KEIP) to maximize their financial condition, sell
the so-called "Transferred Assets," and meet their
debtor-in-possession duties during their Chapter 11 cases.  These
needs cannot be met without the support of the KEIP Participants as
the KEIP Participants' advanced skill and institutional knowledge
are critical to the Debtors' efforts to maximize value for all
interested parties, Michael R. Nestor, Esq., at Young Conaway
Stargatt & Taylor, LLP, in Wilmington, Delaware, tells the Court.

Mr. Nestor assures the Court that the KEIP is designed to "achieve
the desired performance."  The maximum amount that could
potentially be paid under the KEIP is approximately $4.3 million,
and payments under the KEIP would only reach that amount in the
event that the Debtors' ambitious revenue and EBITDARP goals are
not only met, but surpassed.  Moreover, any payout under the KEIP
will ultimately be the Buyer's responsibility, as payment is
contingent on the Buyer making KEIP payments or assuming these
responsibilities in conjunction with the Sale, Mr. Nestor says.  He
asserts that the KEIP is properly characterized as a
performance-based, EBITDARP and revenue driven incentive plan --
not a retention plan for insiders.

Andrew R. Vara, Acting United States Trustee for Region 3, objects
to the motion, complaining that the Debtors did not disclose
publicly in the KEIP motion the KEIP participants' names, job
titles, responsibilities, current salaries, and proposed incentive
payment amounts, nor do they disclose the actual revenue and
EBITDARP goals that will entitle KEIP participants to incentive
payments.  Further, the U.S. Trustee complains that the Debtors do
not explain in the KEIP Motion how the revenue and EBITDARP targets
were established, leaving the U.S. Trustee, the Court, and other
parties-in-interest to speculate on the degree of difficulty in
achieving those targets and whether those performance goals
virtually guarantee the KEIP Participants will receive payments
under the KEIP.

Moreover, the U.S. Trustee argues that the Debtors did not provide
information on any possible correlation or difference between the
financial performance goals under the KEIP and the financial
performance covenants established under the extant
debtor-in-possession financing.  The Debtors do not disclose in the
KEIP Motion the dates and amounts of any bonuses or incentive
compensation already paid to KEIP Participants during the one-year
period preceding the petition date and disclose whether the KEIP is
in lieu of, or in addition to, other bonuses or incentive
compensation that may be earned by KEIP Participants, the U.S.
Trustee says.

The Debtors, in response to the U.S. Trustee's objection, explain
that the KEIP was developed as a reasonable, cost-effective way to
appropriately incentivize certain personnel who are essential to
realizing the Debtors' goals.  The Debtors argue that the KEIP
meets the business judgment standard and is justified by the unique
facts and circumstances of the Chapter 11 Cases.

Mr. Nestor asserts that the Debtors' ability to preserve the value
of their assets would be severely undermined if they are unable to
properly incentivize certain critical employees as these
individuals are intimately familiar with Debtors' business and the
Sale Process, which makes them so critical to the Debtors' business
that the Debtors must retain them even if they are not fully
committed to the job.  Moreover, Mr. Nestor says the cost of the
KEIP is minimal, especially given (i) the value to be realized from
the achievement of the Debtors' Revenue and EBITDARP goals, (ii)
the potential for securing higher or otherwise better offers for
the Transferred Assets, and (iii) the fact that the Buyer will bear
the cost of the KEIP.  The KEIP Participants are essential to
preserving the Debtors' business value pending the Sale and the
KEIP will properly incentivize the KEIP Participants to do
everything in their power to maintain and increase business
performance and stem any further business deterioration, Mr. Nestor
adds.

The Debtors are represented by:

         Michael R. Nestor, Esq.
         Kara Hammond Coyle, Esq.
         Maris J. Kandestin, Esq.
         Andrew L. Magaziner, Esq.
         YOUNG CONAWAY STARGATT & TAYLOR, LLP
         Rodney Square
         1000 North King Street
         Wilmington, DE 19801
         Tel: (302) 571-6600
         Fax: (302) 571-1253
         Email: mnestor@ycst.com
                kcoyle@ycst.com
                mkandestin@ycst.com
                amagaziner@ycst.com

            -- and --

         Michael A. Rosenthal, Esq.
         Robert A. Klyman, Esq.
         Samuel A. Newman, Esq.
         Jeremy L. Graves, Esq.
         Sabina Jacobs, Esq.
         GIBSON, DUNN & CRUTCHER LLP
         333 South Grand Avenue
         Los Angeles, CA 90071
         Tel: (213) 229-7000
         Fax: (213) 229-7520
         Email: mrosenthal@gibsondunn.com
                rklyman@gibsondunn.com
                snewman@gibsondunn.com
                jgraves@gibsondunn.com
                sjacobs@gibsondunn.com

The U.S. Trustee is represented by:

          Mark S. Kenney, Esq.
          Office of the United States Trustee
          J. Caleb Boggs Federal Building
          844 King Street, Suite 2207, Lockbox 35
          Wilmington, DE 19801
          Tel: (302) 573-6491
          Fax: (302) 573-6497

                  About Standard Register

                     About Standard Register

Standard Register -- http://www.standardregister.com/-- provides  


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

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

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

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

Andrew R. Vara, Acting United States Trustee for Region 3, has
appointed seven members to the official committee of unsecured
creditors in the Chapter 11 cases of The Standard Register Company
and its debtor affiliates.  The Committee is represented by Kenneth
A. Rosen, Esq., Sharon L. Levine, Esq., Andrew Behlmann, Esq., at
Lowenstein Sandler LLP, in Roseland, New Jersey; Gerald C. Bender,
Esq., at Lowenstein Sandler LLP, in New York; and Christopher A.
Ward, Esq., and Justin K. Edelson, Esq., at Polsinelli PC, in
Wilmington, Delaware.


TELEXFREE LLC: Meeting of Creditors May Be Scheduled in Two Months
------------------------------------------------------------------
Stephen B. Darr, trustee in the Chapter 11 bankruptcy case of
TelexFree LLC, said that he now has enough information to schedule
a creditors meeting in the next two months, Lisa Eckelbecker,
writing for Telegram.com, reports.

Telegram.com relates that the U.S. Securities and Exchange
Commission is pursuing civil charges against the Company.  The
report says that the U.S. attorney in Boston has accused the
Company's principals, Carlos Wanzeler and James Merrill, of wire
fraud.  According to the report, Mr. Wanzeler allegedly fled to his
native Brazil in 2014 and remains at large, while Mr. Merrill is
free on house arrest until trial.

U.S. Bankruptcy judge Melvin S. Hoffman has approved Mr. Darr's
requests for $3 million in fees and expenses for the lawyers and
financial consulting firms that have been assisting him,
Telegram.com adds.

                         About TelexFREE

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

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

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

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

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

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

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

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

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


TEXAS REGENCY: Apartment Files for Ch. 11 with $11.4MM Debt
-----------------------------------------------------------
Texas Regency Apartments, L.P., owner of the Regency Square
Apartments at 7222 Bellerive Dr., Houston, Texas, sought Chapter 11
protection (Bankr. S.D. Tex. Case No. 15-33188) in Houston, Texas,
on June 10, 2015.

The Debtor immediately filed schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $10,600,000
  B. Personal Property              $521,707
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $10,838,852
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $175,257
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                          $391,344
                                 -----------      -----------
        TOTAL                    $11,121,707      $11,405,453

The largest secured creditor is TD Bank, N.A., which is owed
$9,683,298.

A copy of the schedules is available for free at:

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

The Debtor tapped Matthew Hoffman, Esq., at the Law Offices of
Matthew Hoffman, p.c., as counsel.


TEXAS REGENCY: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Texas Regency Apartments, L.P.
        7222 Bellerive Dr.
        Houston, TX 77036

Case No.: 15-33188

Chapter 11 Petition Date: June 10, 2015

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

Judge: Hon. David R. Jones

Debtor's Counsel: Matthew Hoffman, Esq.
                  LAW OFFICES OF MATTHEW HOFFMAN, P.C.
                  2777 Allen Parkway, Suite 1000
                  Houston, TX 77019
                  Tel: 713-654-9990
                  Fax: 713-654-0038
                  Email: mhecf@aol.com

Total Assets: $11.1 million

Total Debts: $11.4 million

The petition was signed by Gordon Steele, chief financial officer.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Mike Sullivan-Tax Assessor         Ad valorem           $171,259
Harris County                      Property tax

TD Bank, N.A.                      Fee Simple         $1,007,491
2307 West Kennedy Blvd.
Tampa, FL 33609

Lopez Carpet Care, Inc.            Trade Debt            $70,349

Express Painting Services          Trade Debt            $41,327

Contello Plumbing Co. Inc.         Trade Debt            $37,692

Elite Apartment Services           Trade Debt            $32,608

Three Amigos Painting              Trade Debt            $22,602

Southwest Painting Contractors     Trade Debt            $21,609
Inc.

Roto Rooter                        Trade Debt            $20,001

Pavecon                            Trade Debt            $19,831

AAA Plumbers                       Trade Debt            $19,648

Presto Maintenance & Supply        Trade Debt            $19,273

Property Solutions                 Trade Debt            $18,434

Amerifactors Financial             Trade Debt            $17,298
Group, LLC

Keylo Painting & Construction      Trade Debt            $13,942

Alex Painting and Services         Trade Debt            $12,162

E.H.L. Construction and Painting   Trade Debt            $11,216

Green Tree Lawn & Special Designs  Trade Debt            $10,800

Green Mountain Energy, Co.         Utility Service       $10,781

Prestige Restoration, Inc.          Trade Debt           $9,523


THERAPEUTICSMD INC: Completes Enrollment in The Rejoice Trial
-------------------------------------------------------------
TherapeuticsMD Inc. has completed patient enrollment in The Rejoice
Trial, a phase 3 clinical trial of TX-004HR (estradiol in VagiCap)
to evaluate multiple doses of an investigational, applicator-free
vaginal estradiol for the treatment of pain during sexual
intercourse (dyspareunia), a symptom of vulvar and vaginal atrophy
(VVA), due to menopause.

TX-004HR is an investigational bio-identical estradiol softgel
capsule administered vaginally without the need for an applicator.
The Rejoice Trial is also collecting efficacy data on vaginal
dryness, and vaginal and/or vulvar itching or burning.

"Recent studies have shown that current therapies used to treat VVA
generate some concerns from women with respect to their efficacy,
convenience and safety," stated Sebastian Mirkin, MD., chief
medical officer of TherapeuticsMD.  "TX-004HR was designed to try
to address these unmet needs. Completion of patient recruitment in
the Rejoice Trial marks an important milestone in our development
efforts and we look forward to disclosing topline results from the
Rejoice Trial later this year."

Trial Design

A pivotal safety and efficacy study, the Rejoice Trial is a
randomized, multicenter, double-blind, placebo-controlled study
evaluating three strengths of TX-004HR - 4 mcg, 10 mcg and 25 mcg.
The 4 mcg strength represents a new low-dose option.  The 12-week
trial enrolled over 700 participants in approximately 100 sites
across the United States and Canada.
  
About Vulvar and Vaginal Atrophy (VVA)

VVA is a chronic condition resulting from the decrease in naturally
occurring estrogen during menopause, resulting in thinning of the
vaginal lining and an increase in vaginal pH levels.  Approximately
half of postmenopausal women report having symptoms of VVA.[1] In
total, an estimated 32 million women in the United States are
currently suffering from symptoms of VVA[2], and only 2.3 million
(7%) are currently being treated with prescription therapy.1,[3]
The burden of VVA in the United States is likely to increase due to
aging of the population.[4] Furthermore, due to increasing
longevity, women may now suffer from VVA or other conditions
related to decreased reproductive hormone levels for over one-third
of their lives.

                       About TherapeuticsMD

Boca Raton, Florida-based TherapeuticsMD, Inc. (OTC QB: TXMD) is a
women's healthcare product company focused on creating and
commercializing products targeted exclusively for women.  The
Company currently manufactures and distributes branded and generic
prescription prenatal vitamins as well as over-the-counter
vitamins and cosmetics.  The Company is currently focused on
conducting the clinical trials necessary for regulatory approval
and commercialization of advanced hormone therapy pharmaceutical
products designed to alleviate the symptoms of and reduce the
health risks resulting from menopause-related hormone
deficiencies.

TherapeuticsMD reported a net loss of $54.2 million on $15.02
million of net revenues for the year ended Dec. 31, 2014, compared
with a net loss of $28.4 million on $8.77 million of net revenues
for the year ended Dec. 31, 2013.

As of March 31, 2015, the Company had $99.5 million in total
assets, $11.8 million in total liabilities, and $87.7 million in
total stockholders' equity.


TRANSGENOMIC INC: Expands Board of Directors and Executive Team
---------------------------------------------------------------
Transgenomic, Inc., announced that Mya Thomae has been named to its
Board of Directors and Harjit Kullar, PhD, has been appointed vice
president of marketing for the Biomarker Discovery and Genetic
Assays and Platforms business units.  

Ms. Thomae is currently vice president of regulatory affairs at
Illumina, which acquired her regulatory and quality consulting firm
in 2014.  Dr. Kullar joins Transgenomic from Bio-Rad Laboratories.

"Mya Thomae is a terrific addition to our Board, and we are very
happy to have her as a director," said Robert Patzig, Chairman of
Transgenomic.  "Mya's reputation for regulatory expertise and
insight is well known within the industry.  Her knowledge and
experience will be especially valuable as we continue to expand the
market for use of our revolutionary Multiplexed ICE COLD-PCR
technology into the clinical diagnostics arena."

"Harjit Kullar's record of success at industry leaders Thermo
Fisher, Life Technologies and Bio-Rad makes him a terrific recruit
for Transgenomic," noted Paul Kinnon, president and CEO of
Transgenomic.  "His marketing and business development experience
are at the forefront of the genomics tools and services industry
and will be invaluable as we bring MX-ICP technologies and products
online."

Before joining Illumina, Ms. Thomae was founder and chief executive
officer of Myraqa, a boutique diagnostics regulatory consulting
firm.  Myraqa provides counsel on regulatory development and
clinical validation of in vitro and laboratory-developed diagnostic
products.  Myraqa was acquired by Illumina in 2014 and continues to
offer regulatory consulting services under the Myraqa brand.
Previously, Ms. Thomae served as an independent regulatory
consultant to diagnostics companies. Earlier in her career, she was
a regulatory affairs manager at Chiron Corporation and at Epitope,
Inc.  Ms. Thomae received a bachelor's degree from the University
of Wisconsin-Madison.

Ms. Thomae stated, "This is an exciting time in our industry, with
rapid technology advances and the advent of personalized and
precision medicine making diagnostics ever more central to 21st
century healthcare.  Transgenomic is committed to using its unique
ICE COLD-PCR technology to help speed widespread adoption of
precision medicine as part of routine care, and I look forward to
the opportunity to contribute at this important time for the
company."

Dr. Kullar joins Transgenomic from Bio-Rad, where he served as
Content Marketing Leader for cross-functional global digital and
web-based initiatives.  Prior to Bio-Rad, he was Director of
Product Marketing, Genomics, at Thermo Fisher Scientific, where he
led a global marketing team that successfully launched more than 30
product lines, including PCR, gene expression and other molecular
biology products.  Previously, Dr. Kullar was promoted from Manager
to Director of Market Development, Primary & Stem Cell Systems, at
Life Technologies, where he and his global marketing team
successfully launched more than 16 new product lines and played a
key role in the success of initiatives to deliver commercial
programs with annual growth approaching 25%. Dr. Kullar began his
commercial career as Director of Sales at LifeSpan Biosciences,
where he closed the single largest sale in the company's history
and negotiated more than 50 contract research studies in a two-year
period.  Dr. Kullar received a BSc. degree from the University of
Southampton, a PhD in Cancer Biology from the University of
Birmingham and an MBA from the Judge Business School, University of
Cambridge, all in the UK. He did post-doctoral research at Cancer
Research UK and at the Fox Chase Cancer Center.

Dr. Kullar noted, "With the launch of its first products and
services based on ICE COLD-PCR, I believe Transgenomic has the
opportunity to achieve important gains in the marketplace, while
helping to speed industry adoption of genomic-based personalized
approaches in R&D and clinical practice.  I welcome the chance to
contribute to the ongoing transformation of both the company and
the markets we serve."

Transgenomic also announced the launch of a new corporate website.
Mr. Kinnon commented, "Our ongoing process of transforming
Transgenomic into a provider of innovative biotechnology-based,
products and services requires a website that provides ready access
to information about our growing portfolio of products and services
in an attractive and highly functional format.  We are delighted
with our new portal and invite our many customers, collaborators,
industry colleagues and investors to visit, take a 'test drive,'
and let us know what you think."

On June 8, 2015, in connection with her appointment to the Board,
Ms. Thomae was granted an option to purchase 5,000 shares of
Transgenomic's common stock with an exercise price of $1.98, which
will vest in full on the one-year anniversary of the date of grant,
subject to Ms. Thomae's continued service with Transgenomic through
the vesting date.  In accordance with Transgenomic's independent
director compensation policy, Ms. Thomae will be entitled to
receive an annual retainer of $20,000 for her service on the Board
and reimbursement for out-of-pocket expenses related to attendance
at Board meetings.

                         About Transgenomic

Transgenomic, Inc. -- http://www.transgenomic.com/-- is a global  

biotechnology company advancing personalized medicine in
cardiology, oncology, and inherited diseases through its
proprietary molecular technologies and world-class clinical and
research services.  The Company is a global leader in cardiac
genetic testing with a family of innovative products, including
its C-GAAP test, designed to detect gene mutations which indicate
cardiac disorders, or which can lead to serious adverse events.
Transgenomic has three complementary business divisions:
Transgenomic Clinical Laboratories, which specializes in molecular
diagnostics for cardiology, oncology, neurology, and mitochondrial
disorders; Transgenomic Pharmacogenomic Services, a contract
research laboratory that specializes in supporting all phases of
pre-clinical and clinical trials for oncology drugs in
development; and Transgenomic Diagnostic Tools, which produces
equipment, reagents, and other consumables that empower clinical
and research applications in molecular testing and cytogenetics.
Transgenomic believes there is significant opportunity for
continued growth across all three businesses by leveraging their
synergistic capabilities, technologies, and expertise.  The
Company actively develops and acquires new technology and other
intellectual property that strengthens its leadership in
personalized medicine.

Transgenomic reported a net loss available to common stockholders
of $15.1 million in 2014, a net loss available to common
stockholders of $16.7 million in 2013 and a net loss available to
common stockholders of $8.98 million in 2012.

As of March 31, 2015, the Company had $34.5 million in total
assets, $24.4 million in total liabilities and $10 million in
total stockholders' equity.

Ernst & Young LLP, in Hartford, Connecticut, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has recurring
losses from operations that raise substantial doubt about its
ability to continue as a going concern.


TRUE DRINKS: Reports $2.28-Mil. Net Loss in First Quarter
---------------------------------------------------------
True Drinks Holdings, Inc., filed its quarterly report on Form
10-Q, disclosing a net loss of $2.28 million on $765,000 of
revenues for the three months ended March 31, 2015, compared with a
net loss of $3.60 million on $651,000 of revenue for the same
period in 2014.

The Company's balance sheet at March 31, 2015, showed $7.53 million
in total assets, $5.09 million in total liabilities, and
stockholders' equity of $2.43 million.

The Company's auditors have included a paragraph in their report on
consolidated financial statements, included in its annual report on
Form 10-K for the fiscal year ended Dec. 31, 2014, indicating that
there is substantial doubt as to the ability of the Company to
continue as a going concern.  For the three months ended March 31,
2015, the Company incurred a net loss of $2.27 million.  At March
31, 2015, the Company has negative working capital of $2.36 million
and an accumulated deficit of $20.6 million.

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

                        http://is.gd/6lIgbI

Irvine, California-based True Drinks Holdings, Inc. (TRUU:OTC US)
develops, markets, sells and distributes its flagship product,
AquaBall(TM) Naturally Flavored Water, a vitamin-enhanced,
naturally flavored water drink packaged in its patented stacking
spherical bottles.  The Company operates through the beverage
company True Drinks, Inc.


TRUMP ENTERTAINMENT: Regulator Allows Carl Icahn to Own Taj Mahal
-----------------------------------------------------------------
David Madden, writing for CBS Philly, reports that New Jersey's
Casino Control Commission voted unanimously to approve the
application of Carl Ichan, who is trading $286 million in debt into
ownership of Trump Entertainment, to take control of the Trump Taj
Mahal.

CBS quoted Commission Chairman Matt Levinson as saying, "Does he
qualify to hold a license in the state of New Jersey to run the Taj
Mahal.  With integrity, financial stability, we found that him and
his corporation were."

CBS relates that Mr. Icahn plans to spend up to a $100 million to
improve Taj Mahal.

According to the Associated Press, Mr. Ichan has been locked in a
battle with Local 54 of the Unite-HERE, the city's main casino
workers' union, over the elimination of health insurance and
pension plans that Trump Entertainment made in October 2014, and
has threatened to close down the casino if the Union succeeds in
getting a court to restore the benefits, which he describes as
unaffordable.

                 About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on Sept.
9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13, 2104.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first lien
debt issued under their 2010 bankruptcy-exit plan.  The Debtors
also have trade debt in the amount of $13.5 million.


TRUMP ENTERTAINMENT: Regulators Bless Icahn's Purchase of Taj Mahal
-------------------------------------------------------------------
The Associated Press reported that New Jersey gambling regulators
are allowing Carl Icahn to double down on his casino holdings in
Atlantic City.

According to AP, the Casino Control Commission on June 10 approved
the billionaire investor to own the Trump Taj Mahal Casino Resort,
which he is acquiring from bankruptcy court.

               About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on
Sept. 9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13, 2104.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first
lien debt issued under their 2010 bankruptcy-exit plan.  The
Debtors also have trade debt in the amount of $13.5 million.


TWIN RINKS: Proposes Jones & Schwartz as Counsel
------------------------------------------------
Twin Rinks At Eisenhower, LLC, asks the U.S. Bankruptcy Court for
the Eastern District of New York for approval to employ Jones &
Schwartz, P.C., as counsel.

J&S has extensive experience and knowledge in the field of debtor's
and creditors' rights and is well-qualified to represent the Debtor
in the Chapter 11 case.

J&S will charge the Estate for its legal services on an hourly
basis in accordance with its ordinary and customary rates:

                                       Hourly Rate
                                       -----------
         Partners and of Counsel          $630
         Paralegals                       $255

The Debtor believes that J&S is a disinterested person for the
Estate as defined in Section 101(14) of the Bankruptcy Code.

J&S will apply to the Court for allowance of compensation and
reimbursement of expenses in accordance with applicable provisions
of the Bankruptcy Code, the Bankruptcy Rules, the Local Bankruptcy
Rules and orders of the Court.

                         About Twin Rinks

Twin Rinks At Eisenhower, LLC, an East Meadow, New York-based ice
skating rink operator and entertainment business, sought Chapter 11
bankruptcy protection (Bankr. E.D.N.Y. Case No. 15-72466) on June
8, 2015, with plans to sell its business and its assets as a going
concern.

The Debtor disclosed $52.4 million in assets and $55.2 million in
debt as of May 25, 2015.

The Debtor tapped Jones & Schwartz, P.C., as counsel, and Greenspan
Associates, CPAs, as accountants.


TWIN RINKS: Taps Greenspan as Accountants
-----------------------------------------
Twin Rinks At Eisenhower, LLC, asks the U.S. Bankruptcy Court for
the Eastern District of New York for approval to employ Greenspan
Associates, CPAs, PC, as accountants, under a general retainer,
pursuant to Section 327(a) of the Bankruptcy Code.

Greenspan will be required to render, among other things, these
services to the Debtor:

  (a) to give accounting advice with respect to the Debtor’s
powers and duties;

  (b) to analyze all transfers pre- and post-petition that may be
avoidable by the Debtor;

  (c) to analyze all claims filed against the Debtor’s estate;

  (d) to prepare all necessary operating statements, schedules and
tax documents for filing and reviewing proposed transactions
concerning any tax consequences; and

  (e) to perform any other accounting services for the Debtor in
connection with the Chapter 11 cases.

The current hourly rates which Greenspan has informed the Debtor it
charges for the accounting services of its professionals are:

                                       Hourly Rate
                                       -----------
         Principals                       $275
         Senior Staff                 $100 to $200

Greenspan has informed the Debtor that it is a "disinterested
person" as defined by Section 101(14), and used in Section 327(a)
of the Bankruptcy Code.

                         About Twin Rinks

Twin Rinks At Eisenhower, LLC, an East Meadow, New York-based ice
skating rink operator and entertainment business, sought Chapter
11
bankruptcy protection (Bankr. E.D.N.Y. Case No. 15-72466) on June
8, 2015, with plans to sell its business and its assets as a going
concern.

The Debtor disclosed $52.4 million in assets and $55.2 million in
debt as of May 25, 2015.  

The Debtor tapped Jones & Schwartz, P.C., as counsel, and Greenspan
Associates, CPAs, as accountants.


UROLOGIX INC: Has $349K Net Loss in Q3 Ended March 31
-----------------------------------------------------
Urologix, Inc., filed its quarterly report on Form 10-Q, disclosing
a net loss of $349,000 on $2.8 million of revenues for the three
months ended March 31, 2015, compared with a net loss of $1.66
million on $3.36 million of revenues for the same period in the
prior year.

The Company's balance sheet at March 31, 2015, showed $5.02 million
in total assets, $13.09 million in total liabilities, and a
stockholders' deficit of $8.06 million.

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

                       http://is.gd/zFgdts

                       About Urologix, Inc.

Urologix, Inc., develops, manufactures, and markets non-surgical,
office-based therapies for the treatment of the symptoms and
obstruction resulting from non-cancerous prostate enlargement.
The Company's products include the Cooled ThermoTherapy(TM) (CTT)
product line and the Prostiva(R) Radio Frequency (RF) Therapy
System.

The Company reported a net loss of $7.61 million on $14.23 million
of sales for the fiscal year ended June 30, 2014, compared with a
net loss of $4.29 million on $16.59 million of sales last year.

Baker Tilly Virchow Krause, LLP, expressed substantial doubt about
the Company's ability to continue as a going concern, citing that
the company has suffered recurring operating losses and negative
cash flows from operations, and needs additional working capital
to support future operations.



VISITING NURSE: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Visiting Nurse Association of Long Island, Inc.
        100 Garden City Plaza, Suite 100
        Garden City, NY 11530

Case No.: 15-72490

Nature of Business: Health Care

Chapter 11 Petition Date: June 10, 2015

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

Judge: Hon. Louis A. Scarcella

Debtor's Counsel: Adam P. Wofse, Esq.
                  LAMONICA HERBST & MANISCALCO LLP
                  3305 Jerusalem Avenue
                  Wantagh, NY 11793
                  Tel: (516) 826-6500
                  Fax: (516) 826-0222
                  Email: AWofse@lhmlawfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Orael M. Keenan, chief executive
officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nyeb15-72490.pdf


WBH ENERGY: Castlelake Withdraws Bid to Convert Case to Chapter 7
-----------------------------------------------------------------
CL III Funding Holding Company, LLC (Castlelake) notified the U.S.
Bankruptcy Court for the Western District of Texas that it has
withdrawn the motion to convert the Chapter 11 case of WBH Energy
LP, et al., to that under Chapter 7 of the Bankruptcy Code.
In seeking the conversion, Castlake had stated that there is no
reasonable possibility of a successful reorganization of the
Debtors, as the Debtor LLC's limited unencumbered assets cannot
properly fund a plan of reorganization that is confirmable.  It
pointed out that Debtor LLC's principal assets -- joint interest
billing accounts receivables -- are fully encumbered by
Castlelake's valid, perfected liens and security interests.  The
liens and security interests secure over $30 million of unpaid loan
debt -- an amount far in excess of the collateral value.  

                         About WBH Energy

WBH Energy Partners LLC (Bankr. W.D. Tex. Case No. 15-10004) and
its affiliates -- WBH Energy, LP (Bankr. W.D. Tex. Case No.
15-10003) and WBH Energy GP, LLC (Bankr. W.D. Tex. Case No.
15-10005) separately filed for Chapter 11 bankruptcy protection on
Jan. 4, 2015.  The petitions were signed by Joseph S. Warnock, vice
president.

Judge Christopher Mott presides over WBH Energy, LP's case, while
Judge Tony M. Davis presides over WBH Energy Partners' and WBH
Energy GP's cases.

William A. (Trey) Wood, III, Esq., at Bracewell & Giuliani LLP,
serves as the Debtors' bankruptcy counsel.

WBH Energy, LP, and WBH Energy Partners estimated their assets and
liabilities at between $10 million and $50 million each.  WBH
Energy, LP disclosed $557,045 plus an unknown amount and
$48,950,652 in liabilities as of the Chapter 11 filing.  WBH
Energy
GP estimated its assets at up to $50,000, and its liabilities at
between $10 million and $50 million.

The U.S. Trustee for Region 7 appointed seven creditors to serve on
the official committee of unsecured creditors.


WET SEAL: No Objection to Plan Exclusivity Extension
----------------------------------------------------
Travis G. Buchanan, Esq., at Young Conaway Stargatt & Taylor, LLP,
counsel for Seal123, Inc., f/k/a The Wet Seal, Inc., et al.,
certified that as of the May 26, 2015 deadline, no objection was
filed to the Debtors' request for an extension of their exclusive
period to propose a Chapter 11 plan.

The Debtors filed a motion asking the Court to extend their
exclusive periods to file a plan of liquidation until Aug. 13,
2015, and solicit acceptances for that plan until 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, are
currently exchanging drafts of the plan.  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.


[^] BOOK REVIEW: EPIDEMIC OF CARE
---------------------------------
Author:     George C. Halvorson
            George J. Isham, M.D.
Publisher:  Jossey-Bass; 1st edition
Hardcover:  271 pages
List Price: $28.20

Order your personal copy today at
http://www.amazon.com/exec/obidos/ASIN/0787968889/internetbankrupt

Halvorson and Isham worked together as leaders of the Minneapolis
health-care organization HealthPartners; Halvorson as chairman and
CEO, and Isham as medical director and chief health officer. From
their positions as leaders in the health-care field, they have
gained a broad, thorough understanding of the structure, workings,
and the problems of America's health-care system. Their "Epidemic
of Care" written in a readable, lucid, jargon-free style is a
timely work for anyone interested in the pressing matter of
satisfactory health care in America. This includes government
workers, politicians, executives of HMOs and hospitals, and
critics of health care, to individuals making choices about their
own health care. It is a notable work both practical and visionary
that one hopes legislators and heads of HMOs will take in. For
Halvorson and Isham make their way through the daunting
complexities of today's health-care system to put their finger on
its core problems and offer practicable solutions to these.
     
The two main problematic issues of contemporary health care are
health-care costs and quality of care. These two authors offer
solutions taking into consideration both of these. They put forth
balanced proposals instead of the many one-sided ones which stress
cutting costs at the expense of care or favor care regardless of
costs, costs usually born by government from tax revenues. In the
authors' comprehensive, balanced proposals, corporations and
businesses of all sizes, government agencies, health-care
organizations of all types, state and local governments and health
organizations, and also individuals work together cooperatively
for the goal of affordable, effective, and widespread up-to-date
health care.
     
Before outlining their program for dealing with the problems in
health care, which are only growing worse in the present system,
the authors relate information on different parts of today's
system most readers would not be aware of. Then they analyze it to
focus in on what is causing the problems in the particular area of
health care. In some cases, misconceptions held among the public
are cleared up, paving the way toward agreement on what are the
real problems and coming up with acceptable solutions for them.
The percentage of the cost of HMO membership and insurance
premiums going for administration is one such misconception.
"People guess, in fact, that HMO and insurance administration
costs are about 30 to 40 percent of premiums and that insurer
profits add another 10 to 20 percent of the total cost." This
means that anywhere from about 40 percent to 60 percent of
payments for HMOs or insurance doesn't go for health care. The
authors clear up this misconception giving rise to much confusion
in trying to deal with the serious problems facing the health-care
field, as well as a good deal of resentment against HMOs and
insurance companies, by citing that "health plan administrative
costs, including profits and marketing, average from 5 to 30
percent of total premium, depending on the plan." This leads to
the conclusion that it is not a sudden rise in administrative
costs or the greed of health-care providers that is mainly
responsible for driving up the costs of health care and will
continue to do so for the foreseeable future without effective
change in the field. Rising costs of health care from new
technologies, consumer expectations and demands, and also misuse
of drugs and treatments making patients worse or prolonging their
medical problems are the main reason for the rising costs. The
frequent misuse of modern-day medicines and treatments cited by
the authors is an issue that is starting to receive attention in
the media.
   
The price of prescription drugs is one health-care issue already
receiving much attention that the authors address. In this
discussion, they note that because of committees of physicians and
pharmacologists set up by HMOs to identify which drugs were most
effective for specific medical problems and set standards for
prescribing these according to HMO policies, "all Americans
benefited from the new focus on drugs that actually work." Before
these committees, eighty-four percent of drugs developed by the
pharmaceutical companies were what were know as "class C" drugs
that were little better than placebos. As the authors note, in
those days not so long ago, drugs were being developed and
marketed more to generate sales than remedy medical conditions.
The high cost Americans pay for prescription compared to buyers in
other countries is another matter the two authors take up. In
this, they take the position of American buyers of prescription
drugs by making the point that they should not be singled out to
bear the disproportionate share of the research and marketing
costs going into the drug prices since numbers of persons in
countries around the world gain health benefits from the drugs.
The wasteful similarities between some prescription drugs, the
misuse of some, and growing concerns over costs and use of the
drugs with persons under sixty-five are other topics dealt with in
the discussion and analysis of the issue of prescription drugs.
     
Halvorson and Isham's fair-minded overview and critique of today's
heath-care field should be read by anyone with an interest in and
concern about this field central to the quality of life of
Americans and the economy. While they recognize that the field's
dysfunctions have such deep roots and thorny complexities that
"there is no single villain responsible for our troubles and no
silver bullet to cure them," undoubtedly some and likely a number
of the two authors' approaches to resolving particular troubles or
even their solutions to certain problems will be adopted. There is
just no way out of the current health-care crisis other than the
clear-sighted, comprehensive, cooperative way Halvorson and Isham
present.

George Halvorson is currently chairman and CEO of Kaiser
Permanente, one of the U. S.'s largest health-care organizations.
Isham continues as medical director and chief health officer of
HealthPartners.


                            *********

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
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are $25 each.  For subscription information, contact Peter A.
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                   *** End of Transmission ***