TCR_Public/150624.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, June 24, 2015, Vol. 19, No. 175

                            Headlines

ADAMANT DRI: Reports $1.45-Mil. Net Loss in Q1 Ending March 31
AGROFRESH INC: S&P Assigns 'B+' CCR, Outlook Stable
ALLIED NEVADA: Equity Committee Objects to Bidding Protocol
ALPHA PROTECTIVE: Court Rules in Trustee's Suit v. Harrison
ALTEGRITY INC: U.S. May Sue for Damages in USIS Whistleblower Case

AMBER CONSTRUCTION: Ruling in Payroll Tax Dispute Upheld
AMERICAN EAGLE: BlackRock Holds 0.4% of Common Stock
ASG CONSOLIDATED: S&P Lowers CCR to CC & Sec. Debt Rating to CCC
ATLANTIC & PACIFIC: Said to Consider Second Bankruptcy Filing
AWI DELAWARE: Joint Motion to Offset Trade Credits Granted

BANKRATE INC: S&P Affirms 'B+' CCR, Off CreditWatch Negative
BARRY KELLERMAN: Objections to IRA Exemption Sustained
BERNARD L. MADOFF: High Ct. Denies Trustee Appeal in Clawback Suit
BIG JACK: S&P Assigns 'B' CCR & Rates $260MM Secured Loans 'B'
CANOPY FINANCIAL: Partial Summary Judgment Issued in Clawback Suit

CHASSIX HOLDINGS: Creditors' Panel Taps CohnReznick as Tax Advisor
CHASSIX HOLDINGS: July 2 Modified Plan Confirmation Hearing Set
CHASSIX HOLDINGS: Panel Hires Zolfo Cooper as Financial Advisor
CNO FINANCIAL: S&P Revises Outlook to Pos. & Affirms 'BB+' Rating
COLLAVINO CONSTRUCTION: CCCI Has Until July 14 to Propose Plan

COLLEGE PROPERTIES: Summary Judgment in Malpractice Case Affirmed
COLT DEFENSE: Canada Court Issues Recognition Order
COLT DEFENSE: Terms of Cortland's $6.67 Million DIP Loan
COLT DEFENSE: Terms of Wilmington's $13.33 Million DIP Loan
COLT HOLDING: Delays Showdown with Bondholders

COLT HOLDING: Proposes to Sell Assets to Sciens Capital
COLT HOLDING: Seeks to Obtain $20.0-Mil. in DIP Loans
CONSTAR INT'L: Exclusive Solicitation Period Extended to Aug. 19
CORINTHIAN COLLEGES: Few Students Expected to File Claims
CORINTHIAN COLLEGES: Has Nod to Conduct & Consummate Asset Sales

CORINTHIAN COLLEGES: Wants Consulting Pact With Great American
CTPARTNERS EXECUTIVE: Sale Negotiation Exclusivity Period Expires
DAE AVIATION: S&P Assigns 'B-' Rating on New $925MM Secured Loan
DENDREON CORP: Second Amended Plan of Liquidation Effective
DEWEY & LEBOEUF: Former Partner Details Law Firm Infighting

DIGERATI TECHNOLOGIES: Bid to Strike Granted in Fee Dispute
DONALD ALLEN: Sale of American Energy Stock to Creditor Affirmed
DUNE ENERGY: Seeks Oct. 5 Extension of Plan Filing Date
FIRST QUALITY: S&P Affirms 'BB' CCR & Revises Outlook to Negative
FRAC SPECIALISTS: Lessor Seeks $25K Monthly Payment for Equipment

GONZALO SALDANA: Amended Homestead Exemption Partly Allowed
GT ADVANCED: Inks Merlin(TM) Exclusivity Deal with Waare Energies
HERCULES OFFSHORE: S&P Lowers Corporate Credit Rating to 'CC'
HOLOGIC INC: S&P Rates New $1BB Unsecured Notes 'BB'
INTERFACE SECURITY: Obtains Waiver on Credit Facility Default

JAZZ SECURITIES: S&P Assigns 'BB+' Rating on New $1.5BB Facilities
JEFFERY DAVID VOGT: Summary Judgment Order Reversed
JEVIC HOLDING: 3rd Cir. Affirms Deal & Structured Dismissal
LANDAMERICA FINANCIAL: Pa. Court Partially Junks "Germinaro" Suit
LIFE PARTNERS: U.S. Trustee Forms Two More Committee Members

LOCAL CORP: Incurs $4.58-Mil. Net Loss in First Quarter
MARIO FAJARDO: Bankr. Stay Extended to Florida Flexible
MARK LEE RINDLESBACH: Bids to Dismiss Settlement Appeal Granted
MARYMOUNT UNIVERSITY: S&P Assigns 'BB+' Rating on $65.77MM Bonds
MIDWAY GOLD: Proposes Midway US as Foreign Representative

MIDWAY GOLD: Proposes to Use Cash Collateral
MIDWAY GOLD: Seeks to Limit Trading to Protect NOLs
MONTREAL MAINE: Nine Charged Over 2013 Quebec Train Derailment
NIRVANA INC: Creditors Have Until Nov. 30 to File Proofs of Claim
ONE SOURCE: Committee Withdraws Bid to Retain Brinkman as Counsel

PATRIOT COAL: Committee, Pension Plan Object to Bidding Protocol
PLUSFUNDS GROUP: Claims in Suit v. DPM Survive Dismissal Bid
POINT BLANK: Disclosure Statement Hearing Set for July 23
PTC SEAMLESS: Hires Stonecipher Law as Conflicts Counsel
QUICKSILVER RESOURCES: July 31 Fixed as General Claims Bar Date

RADIOSCHACK CORP: Get Approval to Terminate Store Lease With HEB
RADIOSCHACK CORP: Judge Extends Deadline to Remove Suits to Aug. 4
RADIOSCHACK CORP: Sells Boston Store Lease to Sweetwater
RADIOSCHACK CORP: To Sell Properties to B.H. Mg't. for $39.3M
RADIOSCHACK CORP: To Sell Property to SK Realty for $11.4M

RADIOSCHACK CORP: To Terminate Leases With Times Plaza, 2 Others
RADIOSHACK CORP: $26.2M Sale of IP Assets Okayed
RADIOSHACK CORP: Lenders, Retirees Rip Solicitation Procedures
REICHHOLD HOLDINGS: Has Until Sept. 28 to File Liquidating Plan
RESIDENTIAL CAPITAL: Court Rules on Motion to Strike

RODNEY WAYNE WILSON: Settlement with Wife's Mother Denied
SARATOGA RESOURCES: Receives NYSE MKT Delisting Notice
SUMMIT MATERIALS: S&P Affirms 'B+' CCR & Rates $650MM Loan 'BB'
SWEET BRIAR: S&P Lowers Rating on Refunding Bonds to 'CCC'
TRITON EMISSION: Reports $25K Net Income in First Quarter

ULURU INC: Has Insufficient Cash Beyond Second Quarter
UNIVAR INC: S&P Affirms 'B+' CCR & Rates Term Loans 'BB-'
VERDUGO LLC: Court Approves Stipulation Dismissing Chapter 11 Case
WAYNE COUNTY, MI: State Launches Initial Fiscal Review
WEST COAST GROWERS: Wants to Make 1st 2014 Distribution to Growers

WET SEAL: CIT Compromise Approval Sought
WILLIAM PARKER: Court Rules on Cross Motions for Summary Judgment

                            *********

ADAMANT DRI: Reports $1.45-Mil. Net Loss in Q1 Ending March 31
--------------------------------------------------------------
Adamant DRI Processing and Minerals Group filed its quarterly
report on Form 10-Q, disclosing a net loss of $1.45 million on
$244,000 of revenue for the three months ended March 31, 2015,
compared with a net loss of $835,000 on $nil of revenues for the
same period last year.

The Company's balance sheet at March 31, 2015, showed $60.0 million
in total assets, $60.7 million in total liabilities, and a
stockholders' deficit of $752,000.

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

                        http://is.gd/nCmHIQ

Adamant DRI Processing and Minerals Group is engaged in the
mining, processing, and production of iron ore concentrate in
China.  It owns an iron ore concentrate production line on the
Zhuolu Mine, which is located in Zhuolu County, Hebei Province,
China.  Adamant DRI Processing and Minerals Group was founded in
2008 and is based in Zhangjiakou, China.

Kurland and Mohidin LLP expressed substantial doubt about the
Company's ability to continue as a going concern, citing the
Company incurred a net loss of $1.9 million for the year ended Dec.
31, 2014.  It also had negative cash flows from operating
activities of $0.9 million and had a working capital deficiency of
$10.4 million.

The Company's balance sheet at Dec. 31, 2014, showed $60.6 million
in total assets, $59.9 million in total liabilities, and
stockholders' equity of $705,000.


AGROFRESH INC: S&P Assigns 'B+' CCR, Outlook Stable
---------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' corporate
credit rating to pre- and post-harvest food preservation
application solutions provider AgroFresh Inc.  The outlook is
stable.

At the same time, S&P assigned its 'BB-' issue rating (one notch
above the corporate credit rating) to the company's $425 million
term loan with a recovery rating of '2L', indicating that lenders
could expect substantial (lower half of the 70%-90% range) recovery
in the event of payment default or bankruptcy.

"The stable outlook reflects our expectation that the company will
maintain its good market position and operating performance in the
highly niche post-harvest food preservation industry,
notwithstanding near- to mid-term patent expirations and new
entrants to the market, through investment in innovation and
acquisitions," said Standard & Poor's credit analyst Rodney
Olivero.  "We expect the company will sustain FFO to debt in the
low- to mid-teens percent area and liquidity will remain
"adequate," with the potential for temporary FFO to debt
deterioration to pursue acquisitions," he added.

S&P's assessment of a "fair" business risk profile reflects its
view of the company's good market position in a niche segment
providing post-harvest chemical application solutions and services
for fresh produce storage, with well-developed customer
relationships.  S&P views the company's liquidity as "adequate"
with sources of cash that are likely to exceed uses for the next 12
months considering its good free cash flow generation expected in
2015 and 2016 and its proposed revolving credit facility
availability of $25 million.  S&P projects liquidity sources to
exceed uses by more than 1.2x over the next two years.

S&P could lower the rating if the company sustains FFO/debt below
12% with the likelihood of ongoing declines.  This could happen
through the pursuit of larger acquisitions, or a change in
financial policy that increases dividends or return of capital to
shareholders.  S&P could also re-assess the company's business risk
profile if competition increases in the industry, creating pricing
pressure, or operational missteps in transitioning the company to a
stand-alone entity, causing operating performance to decline.  S&P
believes flat revenue growth and a 200 basis point decline in gross
margin will result in an FFO/debt below 12%, indicative of a highly
leveraged financial risk profile.

While unlikely, S&P believes an upgrade would hinge on the
company's ability to improve and sustain FFO/debt above 20%.  This
could occur if the company commits to significant debt reduction,
in the absence of acquisition opportunities.  Alternatively, S&P
could view an acquisition funded with equity, such that acquired
EBITDA effectively reduces leverage, as a credit-positive event.



ALLIED NEVADA: Equity Committee Objects to Bidding Protocol
-----------------------------------------------------------
BankruptcyData reported that Allied Nevada Gold's official
committee of equity security holders objected to proposed stalking
horse purchase agreement and the proposed procedures governing the
bidding and sale of substantially all of the Debtors' assets.

According to BData, the equity committee asserts, "The Motion
should be denied for the following reasons: (a) The Debtors failed
to provide any evidence of the value of the Acquired Assets; (b)
The Debtors failed to establish a sound business purpose justifying
the sale of the Acquired Assets; (c) the Debtors failed to
establish that the proposed purchase price is fair and reasonable;
and (d) the Debtors are not entitled to a waiver of the applicable
stays under Bankruptcy Rules 6004(h) and 6006(d)....The Motion does
not identify whether any drilling has occurred on any of the
Exploration Properties and, if so, the results of such drilling.
The Motion does not identify whether any of the Exploration
Properties contain any mineral reserves or resources....The APA
appears to have tied the Debtors' and Moelis' hands, as the APA did
not permit the typical solicitation and marketing activity that
would generate a competitive auction process. Unsurprisingly, to
the best of the Equity Committee's knowledge, the Debtors' auction
process has not led to any additional potential bidders to late."

                        About Allied Nevada

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

ANV's common stock trades on the NYSE and the TSX.

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

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

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

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


ALPHA PROTECTIVE: Court Rules in Trustee's Suit v. Harrison
-----------------------------------------------------------
Bankruptcy Judge John T. Laney III granted in part and denied in
part the defendants' Motion for Judgment on the Pleadings in the
case captioned NEIL C. GORDON, as Trustee in Bankruptcy For Alpha
Protective Services, Inc., Plaintiff, v. JAMES LEE HARRISON;
HARRISON MANAGEMENT AND CONSULTING, LLC, AND GARY HARRISON, as an
alter-ego of Harrison Management Group, LLC, or as Immediate
Transferee under Harrison Management Group, LLC, Defendants, CASE
NO. 12-70482JTL, ADVERSARY PROCEEDING NO. 14-7019  (Bankr. M.D.
Ga., Valdosta Div.).

On April 1, 2014, the Trustee for Alpha Protective Services, Inc.
("Alpha") filed an adversary proceeding against the defendants
James Lee Harrison ("J. Harrison"), Gary Harrison ("G. Harrison"),
and Harrison Management and Consulting Group ("HMCG"), seeking to
avoid and recover certain allegedly preferential and fraudulent
transfers made by the debtor to the defendants.  On September 30,
2014, the defendants filed a motion seeking judgment on the
pleadings and to have the Trustee's complaint dismissed pursuant to
Federal Rule of Civil Procedure 12(c).

In his May 26, 2015 memorandum opinion which is available at
http://is.gd/dNX4ALfrom Leagle.com, Judge Laney granted the
defendants' motion as to the following counts:

Count III -- Fraudulent transfer claims under 11 U.S.C. Section 548
regarding the J. Harrison Note;

Count IV(a) -- Fraudulent transfer claims 11 U.S.C. Section Section
544 and O.C.G.A. Sections 18-2-74(a)(2) and 18-2-75(a).

To the extent that the Trustee attempted to use 26 U.S.C. Section
6502 to avoid transfers that occurred during the ten years
preceding the filing of Alpha's Chapter 11 petition, the motion was
also granted.

Judge Laney, however, denied the defendants' motion as to:

Count I -- Ordinary preference under 11 U.S.C. Section 547
regarding the J. Harrison promissory note;

Count II -- Insider preference under 11 U.S.C. Section 547
regarding the J. Harrison promissory note;

Count IV -- Fraudulent transfer claims 11 U.S.C. Section 544(a) and
28 U.S.C. Section 3304;

Count V -- Ordinary preference under 11 U.S.C. Section 547
regarding the HMCG promissory note;

Count VI -- Insider preference under 11 U.S.C. Section 547
regarding the HMCG promissory note;

Count VII -- Insider Preference claims under 11 U.S.C. Section 544
and 28 U.S.C. Section 3304(a) regarding HMCG promissory note;

Count VIII -- Recovery against G. Harrison under 11 U.S.C. Section
550(a)(1); and

Count IX -- Recovery against G. Harrison under 11 U.S.C. -- Section
550(a)(2).

              About Alpha Protective Services, Inc.

Alpha Protective Services, Inc. filed a voluntary bankruptcy
petition (Bankr. M.D. Ga. Case No. 12-70482) under Chapter 11 on
April 12, 2012.   It operated as a debtor in possession for
approximately eight months, at which point the United States
Trustee appointed a Chapter 11 Trustee.  On December 20, 2012, the
case was converted to a Chapter 7 liquidation case.


ALTEGRITY INC: U.S. May Sue for Damages in USIS Whistleblower Case
------------------------------------------------------------------
Peg Brickley, writing for The Wall Street Journal, reported that
the U.S. federal government may try to assess damages against
Altegrity Inc., the bankrupt parent of a government security
investigations contracting business that is been accused of fraud
in a whistleblower lawsuit.

According to the report, the business -- US Investigations
Services, or USIS -- is being liquidated, but Altegrity plans to
emerge from bankruptcy with its other businesses intact.

Federal lawyers moved June 19 to block Alegrity's bid to shield
itself and its leaders from liability in the lawsuit, which alleges
USIS raked in tens of millions of taxpayer dollars for work that
was never performed, the Journal related.

                      About Altegrity Inc.

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

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

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

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

Prime Clerk LLC is the Debtors' claims and noticing agent.
PricewaterhouseCoopers LLP serves as the Debtors' independent
auditors.

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

The U.S. Trustee for Region 3 appointed six creditors to serve on
the official committee of unsecured creditors.  The Creditors'
Committee retained Wilmer Cutler Pickering Hale & Dorr LLP, as
lead
counsel, and Bayard, P.A., as Delaware co-counsel.

                           *     *     *

Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware on May 15, 2015, approved the disclosure
statement explaining Altegrity, Inc., et al.'s Joint Chapter 11
Plan and scheduled the confirmation hearing for July 1, 2015, at
10:00 a.m. (prevailing Eastern time).

As reported in the April 1, 2015 edition of the Troubled Company
Reporter, the Debtors filed a Joint Chapter 11 Plan and
accompanying disclosure statement that will delever the Company by
approximately $700 million, or 40% of the Debtors' outstanding
debt.

The Plan provides for a 2.2% estimated recovery of allowed general
unsecured claims, which total approximately $82,510,532.  Holders
of Secured Third Lien Notes Claims are poised to recover 7.7% of
their estimated $66,304,133 total amount of claims.  Holders of
Secured Second Lien Notes Claims are poised to recover 48.4% of
their estimated $519,265,011 total amount of claims.

A full-text copy of the Disclosure Statement dated May 16, 2015,
is
available at http://bankrupt.com/misc/ALTEGRITYds0516.pdf  



AMBER CONSTRUCTION: Ruling in Payroll Tax Dispute Upheld
--------------------------------------------------------
Kathy Riggs was assessed a penalty by the Commissioner of Internal
Revenue for her failure to collect and remit payroll taxes on
behalf of Amber Construction Co., a corporation that she
controlled.  Riggs timely filed a request for a collection due
process hearing before an IRS Appeals officer.  The Appeals officer
sustained the determination.

Riggs appealed to the Tax Court, claiming the IRS Appeals officer
erred by failing to designate her liability for the trust fund
recovery penalty currently not collectible ("CNC").  Finding that
petitioner had substantial equity in a number of assets, the Tax
Court upheld the Appeals officer's denial of CNC status.

The Tax Court also held that the Commissioner of Internal Revenue
had authority to apply the adequate protection payments as the
Commissioner saw fit.

A copy of the May 26, 2015 memorandum is available at
http://is.gd/sTtibdfrom Leagle.com.

The case is, KATHY L. RIGGS, Petitioner v. COMMISSIONER OF INTERNAL
REVENUE, Respondent, DOCKET NO. 16522-13L (Tax)

Kathy L. Riggs, pro se.

Mark J. Tober -- Mark.J.Tober@IRSCounsel.treas.gov -- for
respondent.

Amber Construction Company filed a pro se Chapter 11 bankruptcy
petition (Bankr. M.D. Fla. Case No. 12-00192) on January 13, 2012,
listing under $1 million in both assets and liabilities.


AMERICAN EAGLE: BlackRock Holds 0.4% of Common Stock
----------------------------------------------------
BlackRock, Inc. filed with the Securities and Exchange Commission
an Amendment No. 1 to its Form Schedule 13G, disclosing that it
owns 121,641 shares or roughly 0.4% of the Common Stock of American
Eagle Energy Corp.  A copy of the filing is available at
http://is.gd/SlYX3O

                       About American Eagle

Littleton, Colorado-based American Eagle Energy Corporation is
engaged in the acquisition, exploration and development of oil and
gas properties.  The Company is primarily focused on extracting
proved oil reserves from those properties.

American Eagle Energy Corporation and its wholly-owned subsidiary,
AMZG, Inc., filed on May 8, 2015, voluntary petitions (Bankr. D.
Colo., Case No. 15-15073).  The case is assigned to Judge Howard R.
Tallman.  The Debtors are represented by Elizabeth A. Green, Esq.,
at Baker & Hostetler LLP, in Orlando, Florida.

On May 13, 2015, Judge Tallman granted the Debtors' request for
joint administration.


ASG CONSOLIDATED: S&P Lowers CCR to CC & Sec. Debt Rating to CCC
----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Seattle-based ASG Consolidated LLC to 'CC' from 'CCC-'.
The outlook is negative.

At the same time, S&P lowered its issue-level rating on the
company's senior secured debt to 'CCC' from 'CCC+'.  The recovery
rating remains '1', indicating that lenders could expect very high
(90% to 100%) recovery in the event of a payment default.

S&P also lowered its ratings on ASG's senior subordinated notes to
'CCC-' from 'CCC'.  The recovery rating remains '2', indicating
S&P's expectation for substantial (70% to 90%, at the high end of
the range) recovery in the event of a payment default.

"The downgrades follow ASG's announcement that holders of its
unrated holding company PIK notes have entered into an agreement to
exchange the notes at what we understand to be a substantial
discount for either cash or equity," said Standard & Poor's credit
analyst Kim Logan.  "We view the exchange as distressed and
tantamount to a default."

"We understand that 86% of the noteholders have accepted the
agreement and believe they accepted the offer because of the
perceived risk that ASG may not fulfill its original obligations,"
said Ms. Logan.  "In our view, the offer is distressed rather than
opportunistic because there is a real possibility of a conventional
default over the short term; we see a risk that ASG could fail to
refinance its 2015 and 2016 debt maturities or file for
bankruptcy."

ASG and certain of its affiliates entered into a recapitalization
agreement (CRA) with a potential investor on May 28, 2015.  As part
of the CRA, the company would refinance its credit agreements.  The
company terminated the master waiver agreement that was in place
and entered into an amendment with the senior secured lenders to
provide covenant relief.  The amended credit facility extends the
previously provided covenant relief and requires the company to
provide a commitment letter for a refinancing of the operating
company on or before June 30, 2015. The company expects to
refinance or further extend the senior credit facility by July 15
in order to comply with covenants, and also plans to refinance its
subordinated notes.

Despite EBITDA improvement in the recent quarter, challenges
reflected in ASG's business risk profile include the company's
narrow product focus and participation in the commodity-oriented,
highly regulated, and somewhat volatile commercial fishing
industry.  Also, S&P believes operating performance is subject to
supply-and-demand vagaries related to its products, variable catch
volumes, and worldwide pricing movements that can affect financial
performance.

S&P believes the company's leverage is very high and increasing,
and cash flow-to-debt metrics are thin.  S&P estimates the ratio of
adjusted total debt to EBITDA of over 9x for the 12 months ended
March 31, 2015.  Increases in leverage reflect ASG's contracted
EBITDA and highly leveraged capital structure.



ATLANTIC & PACIFIC: Said to Consider Second Bankruptcy Filing
-------------------------------------------------------------
Lauren Coleman-Lochner and Laura J. Keller, writing for Bloomberg
News, reported that Great Atlantic & Pacific Tea Co. is considering
a bankruptcy filing among possible options as the 156-year-old
grocer works to cut costs, according to people familiar with the
situation.

A filing, which would be the chain's second in five years, could
come as soon as July, said the people, who asked not to be
identified because the discussions aren't public, the report
related.  Bids for A&P were due in May as part of an auction for
the company, but no viable offers for the entire chain were
received, the people said, the report related.

                  About Atlantic and Pacific

Funded in 1859, The Great Atlantic and Pacific Tea Company, Inc.
(A&P), headquartered in Montvale, N.J., is a supermarket chain
operating 301 supermarkets under the A&P, The Food Emporium,
Pathmark, Superfresh, Waldbaums and Foodbasics banners and 18
liquor stores in the Northeast US concentrated in the New York /
New Jersey / Pennsylvania markets.  The company's annual sales are
about $5.8 billion.

A&P and its affiliates filed Chapter 11 petitions (Bankr. S.D.N.Y.
Case No. 10-24549) on Dec. 12, 2010, in White Plains, New York.
Before filing for bankruptcy in 2010, A&P operated 429 stores in
eight states and the District of Columbia under the following
trade names: A&P, Waldbaum's, Pathmark, Pathmark Sav-a-Center,
Best Cellars, The Food Emporium, Super Foodmart, Super Fresh and
Food Basics.  A&P had 41,000 employees prior to the bankruptcy
filing.

In its petition, A&P reported total assets of $2.5 billion and
liabilities of $3.2 billion as of Sept. 11, 2010.

Paul M. Basta, Esq., James H.M. Sprayregen, Esq., and Ray C.
Schrock, Esq., at Kirkland & Ellis, LLP, in New York, and James J.
Mazza, Jr., Esq., at Kirkland & Ellis LLP, in Chicago, Illinois,
served as counsel to the Debtors.  Kurtzman Carson Consultants LLC
acted as the claims and notice agent.  Lazard Freres & Co. LLC
served as the financial advisor.  Huron Consulting Group served as
management consultant.  Dennis F. Dunne, Esq., Matthew S. Barr,
Esq., and Abhilash M. Raval, Esq., at Milbank, Tweed, Hadley &
McCloy LLP, represented the Official Committee of Unsecured
Creditors.

The Bankruptcy Court entered an order Feb. 27, 2012, confirming a
First Amended Joint Plan of Reorganization filed Feb. 17, 2012.
A&P consummated its financial restructuring and emerged from
Chapter 11 as a privately held company in March 2012.

A&P sold or closed stores during the bankruptcy proceedings.  It
emerged from bankruptcy with 320 supermarkets.  Among others, A&P
sold 12 Super-Fresh stores in the Baltimore-Washington area for
$37.83 million, plus the value of inventory.  Thirteen other
locations didn't attract buyers at auction and were closed mid-
July 2011.

Mount Kellett Capital Management LP, The Yucaipa Companies LLC and
investment funds managed by Goldman Sachs Asset Management, L.P.,
provided $490 million in debt and equity financing to sponsor
A&P's reorganization plan and complete its balance sheet
restructuring.  JP Morgan and Credit Suisse arranged a
$645 million exit financing facility.

                           *     *     *

In April 2014, Standard & Poor's Ratings Services revised its
outlook on Montvale, N.J.-based The Great Atlantic & Pacific Tea
Co. (A&P) to developing from negative.  At the same time, S&P
affirmed all ratings, including the 'CCC' corporate credit rating.
The 'CCC' corporate credit rating reflects S&P's view that the
company's overall profits may still be vulnerable to continued
sales declines over the next year, which could strain the
company's liquidity.  S&P also view the company's financial risk
profile as "highly leveraged" and business risk profile as
"vulnerable."

In February 2014, Moody's Investors Service affirmed the company's
Caa2 corporate family rating and Caa2-PD probability of default
rating.  The Caa2 corporate family rating reflects A&P's weak
operating performance, very weak credit metrics and Moody's
opinion that A&P's cash interest coverage and free cash flow will
remain weak over the next year.

The TCR, on Oct. 31, 2014, reported that Standard & Poor's Ratings
Services withdrew its ratings on The Great Atlantic & Pacific Tea
Co. Inc., including its 'CCC' corporate credit rating, at the
company's request.  At the time of the withdrawal the outlook was
developing.


AWI DELAWARE: Joint Motion to Offset Trade Credits Granted
----------------------------------------------------------
Bankruptcy Judge Kevin J. Carey granted a Joint Motion filed by the
debtors and the Official Committee of Unsecured Creditors in the
case captioned Carey In re ADI LIQUIDATION, INC., (f/k/a/ AWI
Delaware, Inc.)., Chapter 11, Debtors, CASE NO. 14-12092 (KJC)
(Bankr. D. Del.).

The Debtors and the Official Committee of Unsecured Creditors (the
"Committee") filed a Joint Motion for an Order (I) Authorizing the
Debtors to Offset Trade Credits, Vendor Overpayments, and/or Other
Amounts Owed to the Debtors First Against the Administrative or
Secured Portion of Creditor's Claims; and (II) Disallowing Claims
for Post-Petition Interest in Connection with Claims Asserted Under
11 U.S.C. Section 503(b)(9).

Judge Carey agreed with the Debtors and the Committee that
applicable case law, the Bankruptcy Code, and equitable
considerations support the position that the Debtors may apply
their setoff or recoupment rights, at their discretion, against
unsecured claims, administrative claims (including the Section
503(b)(9) Claims) or general unsecured claims.

Judge Carey also held that the Bankruptcy Code contains no
provision for the pre-confirmation recovery of interest on Section
503(b)(9) Claims in a chapter 11 case.  Accordingly, the request
for payment of interest on unpaid Section 503(b)(9) Claims was
denied.

A copy of the May 5, 2015 memorandum is available at
http://is.gd/trUP3vfrom Leagle.com.

                   About Associated Wholesalers

Founded in 1962 and headquartered in Robesonia, Pennsylvania,
Associated Wholesalers Inc. serviced 800 supermarkets, specialty
stores, convenience stores and superettes with grocery, meat,
produce, dairy, frozen foods and general merchandise/health and
beauty care products.  AWI, with distribution facilities in
Robesonia, Pennsylvania, and York, Pennsylvania, served the
mid-Atlantic United States.  AWI is owned by its 500 retail
members, who in turn operate supermarkets.  AWI had 1,459
employees.

White Rose Inc. is a food wholesaler and distributor serving the
greater New York metropolitan area.  The company traces its
origins
to 1886, when brothers Joseph and Sigel Seeman founded Seeman
Brothers & Doremus to provide grocery deliveries throughout New
York City.  White Rose carries out its operations through three
leased warehouse and distribution centers, two of which are
located
in Carteret, New Jersey, and one in Woodbridge, New Jersey.  White
Rose has 777 employees.

Associated Wholesalers and its affiliates sought Chapter 11
bankruptcy protection on Sept. 9, 2014, to sell their assets under
11 U.S.C. Sec. 363 to C&S Wholesale Grocers, absent higher and
better offers.  The Debtors were granted joint administration of
their Chapter 11 cases for procedural purposes, under the lead
case
of AWI Delaware, Inc., Bankr. D. Del. Case No. 14-12092.

As of the Petition Date, the Debtors owe the Bank Group
(consisting
of lenders, Bank of America, N.A., Bank of American Securities LLC
as sole lead arranger and joint book runner, Wells Fargo Capital
Finance, LLC as joint book runner and syndication agent, and RBS
Capita, as documentation agent) an aggregate principal amount of
not less than $131,857,966 (inclusive of outstanding letters of
credit), plus accrued interest.  The Debtors estimate trade debt
of
$72 million.  AWI Delaware disclosed $11,440 in assets and
$125,112,386 in liabilities as of the Chapter 11 filing.

Saul Ewing LLP and Rhoads & Sinon LLP are serving as legal
advisors
to the Debtors, Lazard Middle Market is serving as financial
advisor, and Carl Marks Advisors is serving as restructuring
advisor to AWI.  Carl Marks' Douglas A. Booth has been tapped as
chief restructuring officer.  Epiq Systems serves as the claims
agent.

The Official Committee of Unsecured Creditors tapped to retain
Hahn
& Hessen LLP as its lead counsel; Pepper Hamilton LLP as its
co-counsel; and Capstone Advisory Group, LLC, together with its
wholly-owned subsidiary Capstone Valuation Services, LLC, as its
financial advisors.

The Troubled Company Reporter on Nov. 5, 2014, reported that the
Bankruptcy Court authorized Associated Wholesalers, which changed
its name to AWI Delaware, Inc., prior to the approval of the sale,
to sell substantially all of its assets, including their White
Rose
grocery distribution business, to C&S Wholesale Grocers, Inc.

The C&S purchase price consists of the lesser of the amount of the
bank debt, which totals about $18.1 million and $152 million, plus
other liabilities, which amount is valued at $194 million.  C&S,
according to Bill Rochelle and Sherri Toub, bankruptcy columnists
for Bloomberg News, ended up paying $86.5 million more cash to be
anointed as the winner at the auction.

AWI Delaware notified the Bankruptcy Court on Nov. 12, 2014, that
closing occurred in connection with the sale of their assets to
C&S.  AWI Delaware subsequently changed its name to ADI
Liquidation, Inc., following the closing of the sale.


BANKRATE INC: S&P Affirms 'B+' CCR, Off CreditWatch Negative
------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'B+'
corporate credit rating on New York-based Bankrate Inc.  At the
same time, S&P removed its ratings on the company from CreditWatch,
where it placed them with negative implications on Sept. 15, 2014.
The rating outlook is stable.

"The affirmation and CreditWatch action follow our review of
Bankrate's internal review results and the recently released
audited financials dating back to 2011," said Standard & Poor's
credit analyst Heidi Zhang.  The company's restatement and
discontinued operation adjustments together reduced its aggregate
adjusted EBITDA by about $5 million for the period ranging from
2011 to June 30, 2015.  S&P views this as a small amount relative
to the company's aggregate adjusted EBITDA of about $445 million
over the same period.  The full-year 2014 results were in line with
S&P's expectations.

The stable outlook reflects S&P's expectation that Bankrate's
leverage will stay in the mid-2x area over the next year.  It also
reflects S&P's view that there could be modest liquidity impact
from the resolution of the SEC and DOJ investigations, which are
still ongoing and present potential risks and uncertainties.

S&P could raise the rating on Bankrate by one notch after the SEC
and DOJ investigations are resolved and if the company completes
the remedial actions to improve internal controls with minimal
impact on liquidity, if there are no further findings of errors or
control deficiencies, and if there are no meaningful deterioration
in operations.

S&P could lower the rating by one notch if the conclusion of the
SEC or DOJ investigations result in higher-than-expected legal
costs or fines or if leverage rises above 5x on sustained basis due
to a meaningful deterioration in operating performance, new
competitors aggressively taking away market share, or large
debt-financed acquisitions.



BARRY KELLERMAN: Objections to IRA Exemption Sustained
------------------------------------------------------
Bankruptcy Judge Richard D. Taylor sustained the objections to the
exemption of a debtor's IRA in the case captioned IN RE: BARRY K.
KELLERMAN and DANA M. KELLERMAN, CHAPTER 7, Debtors, CASE NO.
4:09-BK-13935 (Bankr. E.D. Ark., Little Rock Div.).

At the commencement of their case, the debtors valued Barry
Kellerman's individual retirement account ("IRA") at $180,000 and
claimed the entire fund as exempt.  The Trustee, M. Randy Rice, and
creditor Arvest Bank objected, arguing that the IRA was no longer
exempt from taxation under the Internal Revenue Code as of the
commencement of the case and, accordingly, is not eligible for
exemption under 11 U.S.C. Section 522(d)(12).  They alleged that
the IRA lost its exempt status in 2007 because Barry Kellerman
directed the IRA to engage in prohibited transactions involving
disqualified persons as defined by the Internal Revenue Code.

The alleged prohibited transactions involve the 2007 acquisition of
approximately four acres of real property located near Maumelle,
Arkansas.  The debtors conceded that they are "disqualified
persons" pursuant to subsection 4975(e)(2), and Judge Taylor found
that the transactions constitute "prohibited transactions" with
disqualified persons pursuant to subsections 4975(c)(1)(B), (D),
and (E), which renders the IRA non-exempt.

A copy of the May 26, 2015 memorandum opinion is available at
http://is.gd/SG2tSAfrom Leagle.com.

          About Barry K. Kellerman and Dana M. Kellerman

Barry and Dana Kellerman filed their voluntary Chapter 11
bankruptcy petition in the United States Bankruptcy Court, Eastern
District of Arkansas (Bankr. E.D. Ark. Case No. 09-13935) on June
3, 2009.  On motion and with the debtors' consent, the court
converted their case to a Chapter 7 proceeding on January 28, 2014,
and appointed M. Randy Rice as trustee of the debtors' estate.


BERNARD L. MADOFF: High Ct. Denies Trustee Appeal in Clawback Suit
------------------------------------------------------------------
Brent Kendall, writing for The Wall Street Journal, reported that
the Supreme Court on June 22 said it wouldn't consider a bid by a
court-appointed trustee to claw back money from hundreds of
investors who profited from Bernard Madoff's Ponzi scheme.

According to the report, the justices, without comment, left in
place a ruling by the New York-based Second U.S. Circuit Court of
Appeals from December.  That ruling said the fictitious profits
paid out to those Madoff investors were shielded by a provision of
federal bankruptcy law that prohibits recovery of
securities-related payments made by a stockbroker, the Journal
related.

Trustee Irving Picard had sought to recoup nearly $2 billion in
payments to customers so he could redistribute the funds to
thousands of other investors who lost money in Mr. Madoff's fraud,
the Journal further related.

                    About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC and Bernard L. Madoff
orchestrated the largest Ponzi scheme in history, with losses
topping US$50 billion.  On Dec. 15, 2008, the Honorable Louis A.
Stanton of the U.S. District Court for the Southern District of
New
York granted the application of the Securities Investor Protection
Corporation for a decree adjudicating that the customers of BLMIS
are in need of the protection afforded by the Securities Investor
Protection Act of 1970.  The District Court's Protective Order (i)
appointed Irving H. Picard, Esq., as trustee for the liquidation
of
BLMIS, (ii) appointed Baker & Hostetler LLP as his counsel, and
(iii) removed the SIPA Liquidation proceeding to the Bankruptcy
Court (Bankr. S.D.N.Y. Adv. Pro. No. 08-01789) (Lifland, J.).  Mr.
Picard has retained AlixPartners LLP as claims agent.

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The petitioning creditors -- Blumenthal &
Associates Florida General Partnership, Martin Rappaport
Charitable
Remainder Unitrust, Martin Rappaport, Marc Cherno, and Steven
Morganstern -- assert US$64 million in claims against  Mr. Madoff
based on the balances contained in the last statements they got
from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).

The Chapter 15 case was later transferred to Manhattan.  In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to 150
years of life imprisonment for defrauding investors in United
States v. Madoff, No. 09-CR-213 (S.D.N.Y.).

From recoveries in lawsuits coupled with money advanced by SIPC,
Mr. Picard has commenced  distributions to victims.  As of the end
of May 2015, the SIPA Trustee has recovered more than $10.699
billion and has distributed approximately $7.576 billion.  When
additional settlements awaiting distribution are taken into
account, the recovery in the Madoff liquidation proceeding totals
$10.734 billion.


BIG JACK: S&P Assigns 'B' CCR & Rates $260MM Secured Loans 'B'
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned a 'B' corporate credit
rating to quick service restaurant operator, Big Jack Holdings LP.
The outlook is stable.

At the same time, S&P assigned a 'B' issue-level rating to the
company's proposed senior secured credit facility with a recovery
rating of '3', indicating S&P's expectation for meaningful recovery
for lenders in the event of a payment default.  S&P's recovery
expectations are in the higher half of the 50% to 70% range.  The
senior secured credit facility consists of a $30 million revolving
credit facility due 2020 and a $230 million term loan B due 2022.

Proceeds from the proposed transaction and equity will be used to
fund the acquisition of Big Jack Holdings (Jack's) by Onex Partners
Manager LP (Onex), and pay related fees and expenses. Following the
close of the transaction, S&P expects the company to execute sale
leaseback transactions with proceeds going to Onex (subject to a
pro forma total first lien net leverage ratio), which will reduce
the equity contribution toward the purchase price.

"The rating on Homewood, Ala.-based Big Jack Holdings LP reflects
the company's small-sized position with about 129 locations,
limited product offering, geographic concentration in Alabama,
exposure to volatile commodity costs, and a highly leveraged
balance sheet following the acquisition.  Leverage is 4.2x pro
forma for the acquisition," said credit analyst Samantha Stone.
"The ratings also incorporate our expectation that the company will
complete sale leaseback transactions on most of its company-owned
restaurants after the acquisition closes.  We forecast leverage in
the mid-to-high 5x, assuming the transaction occurs in fiscal 2016.
A key rating risk is that operating strategies could deviate
following the change in ownership."

The rating outlook is stable.  S&P expects Jack's operating
performance will continue to improve from positive same-store sales
and store unit growth.  S&P thinks the company will pursue a
manageable store growth strategy with new units in the
mid-single-digit area.  S&P thinks the company will maintain
sufficient access to the revolving credit facility for operating
needs despite increased interest and rent expenses resulting from
the proposed acquisition and potential sale leaseback
arrangements.

S&P could consider a downgrade if liquidity becomes constrained or
if operating performance and credit measures deteriorate such that
leverage increases to over 6.5x and EBITDA interest coverage
declines below 2x.  Events that could cause a downgrade include a
sharp deterioration in operating performance or significant changes
in financial policy that leads to large debt financed dividends.

An upgrade is unlikely over the next 12 months, given the company's
ownership by financial sponsors that dictate financial policy.
Still, S&P could raise the ratings if the company meaningfully
builds scale while pursuing a prudent growth strategy, debt to
EBITDA is sustained below 5x, and funds from operations to debt
above 20%.



CANOPY FINANCIAL: Partial Summary Judgment Issued in Clawback Suit
------------------------------------------------------------------
Judge Andrea R. Wood of the United States District Court for the
Northern District of Illinois, Eastern Division, in a memorandum
opinion and order dated June 2, 2015, granted in part and denied in
part the motion for summary judgment filed in the adversary case
captioned GUS A. PALOIAN, not individually but solely as Chapter 7
trustee for Canopy Financial, Inc., Plaintiff, v. FIFTH THIRD BANK,
FIFTH THIRD INVESTMENT COMPANY, and CHARLES DRUCKER, Defendants,
NO. 12-CV-04646, (N.D. IL), In re: CANOPY FINANCIAL, INC., Debtor,
Bankruptcy No.: 09-44943 (Bankr. N.D. Ill.).

Gus Paloian, as trustee of the bankruptcy estate of Canopy
Financial, Inc., filed suit to recover funds from one of Canopy's
bankers, Fifth Third Bank, one of its shareholders, Fifth Third
Investment Company, and one of its board members, Charles Drucker,
for their alleged roles in a fraud committed against Canopy by two
of its officers.

The fraud involved the officers' use of a corporate credit card for
personal spending sprees.  Fifth Third, the issuer of the credit
card, also held Canopy's operating accounts and took payment for
the outstanding credit card balances from the company's operating
funds.  Mr. Paloian seeks to recover the transfers to Fifth Third
and to receive damages from the bank for unjust enrichment and from
Drucker and FTIC for alleged breach of fiduciary duty.

On the other hand, the Defendants contend that the credit card
account balances were debts properly charged to Canopy and properly
paid from the company's funds, and that these facts defeat Mr.
Paloian's claims to recover the funds and for unjust enrichment
damages.  The Defendants also assert that Mr. Drucker breached no
fiduciary duty owed to Canopy.  The Defendants seek summary
judgment on nine of the ten claims of Mr. Paloian's complaint.

Judge Wood denied the Defendants' motion for summary judgment as to
the Counts 2, 3, 4, 5, 6, 7, and 12, and granted as to Counts 8, 9,
10, and 11.  Judge Wood ruled that the Defendants offer no evidence
other than Kashyap's invocation of the privilege to show that he
knew about the account.  His failure to answer, standing alone, is
insufficient to permit a conclusion at this stage that he knew of
the credit card account under circumstances that should have
prompted him to dispute its propriety, Judge Wood said.  Although
the fraud committed by Blackburn and Banas was clearly significant
to Canopy, Mr. Paloian has not presented evidence that its
seriousness was demonstrated to Mr. Drucker on any sustained or
systematic basis, Judge Wood added.  The other corporate failures
alleged by Mr. Paloian to be red flags that should have been
identified by Mr. Drucker were of no greater magnitude or
frequency, the Court said.  Mr. Paloian has not produced evidence
of disputed material facts sufficient to defeat the Defendants'
motion for summary judgment on the claims against Mr. Drucker for
breach of fiduciary duty, Judge Wood further ruled.

This finding dictates an identical disposition of Mr. Paloian's
related claim that Fifth Third and FTIC aided and abetted Mr.
Drucker's breaches of fiduciary duty.  The Court concluded that
disputed issues of material fact preclude a finding that Blackburn
was authorized to bind Canopy to the credit card agreement.  The
Defendants are not entitled to a determination at this stage that,
as a matter of law, the transfers from Canopy to pay the card
balances were in satisfaction of the company's debts and were
exchanges for reasonably equivalent value, Judge Wood further
ruled.

A full-text copy of Judge Wood's Memorandum Opinion and Order is
available at http://is.gd/aqsevffrom Leagle.com.

Christopher James Harney, Esq. -- charney@seyfarth.com --
Christopher F. Robertson, Esq. -- crobertson@seyfarth.com -- Jason
Jon DeJonker, Esq. -- jdejonker@seyfarth.com -- Michael Ryan
Pinkston, Esq. -- rpinkston@seyfarth.com -- and Ryan Pinkston, Esq.
-- rpinkston@seyfarth.com -- of Seyfarth Shaw LLP, and Andrew
Vernon Banas, Esq., at Squire Sanders (US) LLP serve as counsel for
Plaintiff Gus A Paloian, not individually but sole as Chapter 7
trustee for Canopy Financial, Inc.

Daniel C. Morgenstern, Esq. -- dcmorgenstern@vorys.com -- Kent A.
Britt, Esq. -- kabritt@vorys.com -- and Victor A. Walton, Jr., Esq.
-- vawalton@vorys.com -- of Vorys, Sater, Seymour and Pease LLP;
Junilla Sledziewski, Esq. -- jsledziewski@statmanharris.com -- of
Statman Harris & Eyrich, LLC; and Marc Ira Fenton, Esq. --
mfenton@bupdlaw.com -- of Brown, Udell, Pomerantz & Delrahim, Ltd.
serve as counsel for Defendant Fifth Third Bank.

                        About Canopy Financial

Canopy Financial Inc., based in Chicago, provided financial
processing services for the health-care industry.  Canopy filed
for Chapter 11 bankruptcy after discovering financial and
accounting irregularities.  Canopy Financial sought Chapter 11
bankruptcy protection (Bankr. N.D. Ill. Case No. 09-44943) on Nov.
25, 2009.  The petition says assets are less than $10 million
while debt exceeds $50 million.  At the end of the year, the Court
ordered the conversion of the case to a Chapter 7 liquidation.
Gus Paloian was appointed as Chapter 7 trustee.


CHASSIX HOLDINGS: Creditors' Panel Taps CohnReznick as Tax Advisor
------------------------------------------------------------------
The Official Committee of Unsecured Creditors of Chassix Holdings,
Inc. and its debtor-affiliates seeks authorization from the U.S.
Bankruptcy Court for the Southern District of New York to retain
CohnReznick LLP as its potential testifying expert and tax advisor
with respect to the Global Settlement, nunc pro tunc to May 15,
2015.

The Committee requires CohnReznick LLP to:

   (a) review, analyze and advise the Committee on the value of
       the Debtors' tax attributes, including reported net
       operating losses or NOLs, that the Debtors will be able
       to preserve pursuant to the Global Settlement;

   (b) review, analyze and advise the Committee on the value of
       the consideration provided by Platinum Equity as a result
       of its agreement under the Global Settlement to take, or
       not to take, certain actions that could impact the tax
       attributes of the Reorganized Debtors;

   (c) prepare an expert report and/or testify as to its findings
       regarding the value of the Debtors' tax attributes,
       including NOLs, and the value of the consideration provided

       by Platinum Equity pursuant to the Global Settlement; and

   (d) render other such services and assistance regarding tax
       issues in the Global Settlement as the Committee and Akin
       Gump may deem necessary with respect to which the Committee

       is not otherwise receiving advice and assistance from Teneo

       or the other Committee professionals.

CohnReznick LLP will be paid at these hourly rates:

       Partner                      $600-$810
       Managers, Senior Managers,
       Directors                    $440-$630
       Other Professional Staff     $295-$430
       Paraprofessionals            $195

CohnReznick LLP will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Joseph C. Baum, director of CohnReznick LLP, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

CohnReznick LLP can be reached at:

       Joseph C. Baum
       COHNREZNICK LLP
       1212 Avenue of the Americas
       New York, NY 10036
       Tel: (212) 297-0400

                       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, Inc., disclosed $5,880,354 in assets and $624,719,658 in
liabilities as of the Chapter 11 filing.  Its parent, Chassix
Holdings, Inc., disclosed $0 assets and $165,571,125 in liabilities
in its schedules.

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.

The Official Committee of Unsecured Creditors appointed in the case
has retained Akin Gump Strauss Hauer & Feld LLP as counsel; Teneo
Securities LLC as financial advisor; and Kurtzman Carson
Consultants LLC as information and noticing agent.


CHASSIX HOLDINGS: July 2 Modified Plan Confirmation Hearing Set
---------------------------------------------------------------
Chassix Holdings, Inc. on June 22 disclosed that Chassix and its
U.S. subsidiaries have reached agreement with the Official
Committee of Unsecured Creditors, the Company's existing private
equity sponsor, and the informal group representing more than 73%
of the Company's secured and 80% of the Company's unsecured
bondholders regarding the terms of a modified restructuring and
recapitalization plan for the Company.  The agreement, which will
result in enhanced recoveries to the Company's general unsecured
creditors and unsecured noteholders, resolves potential objections
to the Plan by the Committee and moves the Company one step closer
to confirmation of the modified Plan.

The terms of the agreement are to be incorporated on Tuesday, June
23, 2015, into a modified Plan and will be described in a
supplement to the Company's Disclosure Statement; the original
Disclosure Statement was approved by the United States Bankruptcy
Court for the Southern District of New York.  A hearing for the
Court to consider confirmation of the modified Plan is scheduled to
commence on July 2, 2015.

"We are pleased to have reached this agreement with our creditor
groups, and we believe there is now a clear path to complete
Chassix's restructuring and recapitalization and emerge from
Chapter 11 this summer," said Mark Allan, Chassix Chief Executive
Officer.  "The progress we are making in our restructuring has been
further supported by our ability to improve our performance across
our operations.  We continue to be relentless in our efforts to
provide our customers with the high-quality products they expect,
and we look forward to emerging as a robust, well-capitalized
global automotive supplier."

The modified Plan is supported by approximately 80% of the
Company's unsecured bondholders and approximately 73% of the
Company's senior secured bondholders, the Unsecured Creditors
Committee, the Company's existing sponsor, and all of the Company's
largest customers.  In addition to the enhancements described
above, the modified Plan, among other things, provides for a
debt-for-equity swap that will significantly reduce the Company's
outstanding bond debt and debt payment obligations.

Additional information regarding Chassix's restructuring is
available at www.chassix.com

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

Weil, Gotshal & Manges LLP is serving as legal counsel and Lazard
Freres & Co. LLC is serving as financial advisor to Chassix.  FTI
Consulting is providing interim management services to Chassix,
including operational evaluation, business plan development and
strategy implementation.  This release is not intended as a
solicitation for a vote on the modified Plan.

                      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.

The Official Committee of Unsecured Creditors appointed in the case
has retained Akin Gump Strauss Hauer & Feld LLP as counsel; Teneo
Securities LLC as financial advisor; and Kurtzman Carson
Consultants LLC as information and noticing agent.


CHASSIX HOLDINGS: Panel Hires Zolfo Cooper as Financial Advisor
---------------------------------------------------------------
The Official Committee of Unsecured Creditors of Chassix Holdings,
Inc. and its debtor-affiliates seeks authorization from the U.S.
Bankruptcy Court for the Southern District of New York to retain
Zolfo Cooper, LLC as its potential testifying expert and limited
financial advisor with respect to the Global Settlement, nunc pro
tunc to May 11, 2015.

The Committee requires Zolfo Cooper to:

   (a) advise and assist Akin Gump and the Committee on those
       matters relating to the Global Settlement with respect to
       which the Committee is not otherwise receiving advice and
       assistance from Teneo;

   (b) evaluate and advise the Committee with respect to the
       financial condition of the Debtors at and around the time
       of the payment of the Special Dividend to Platinum Equity,
       which was paid in or around December 2013;

   (c) provide an expert report and/or expert testimony as to the
       Debtors' financial condition at the time of, and/or as a
       result of, the Special Dividend; and

   (d) provide other services as requested by Akin Gump and the
       Committee in respect of the Global Settlement with respect
       to which the Committee is not otherwise receiving advice
       and assistance from Teneo.

Zolfo Cooper will be paid at these hourly rates:

       Managing Directors        $775-$925
       Professional Staff        $265-$770
       Support Personnel         $60-$310

Zolfo Cooper will also be reimbursed for reasonable out-of-pocket
expenses incurred.

David MacGreevey, managing director of Zolfo Cooper, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

Zolfo Cooper can be reached at:

       David MacGreevey
       ZOLFO COOPER, LLC
       Grace Building
       1114 Avenue of the Americas
       41st Floor
       New York, NY 10036
       Tel: (212) 561-4187
       E-mail: dmacgreevey@zolfocooper.com

                       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, Inc., disclosed $5,880,354 in assets and $624,719,658 in
liabilities as of the Chapter 11 filing.  Its parent, Chassix
Holdings, Inc., disclosed $0 assets and $165,571,125 in liabilities
in its schedules.

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.

The Official Committee of Unsecured Creditors appointed in the case
has retained Akin Gump Strauss Hauer & Feld LLP as counsel; Teneo
Securities LLC as financial advisor; and Kurtzman Carson
Consultants LLC as information and noticing agent.


CNO FINANCIAL: S&P Revises Outlook to Pos. & Affirms 'BB+' Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised the outlook
on CNO Financial Group to positive from stable.  At the same time,
S&P affirmed its ratings on the group and its core operating
subsidiaries, including the 'BB+' long-term counterparty credit
rating and 'BBB+' financial strength rating on CNO Financial Group.
S&P's ratings on CNO Financial include its operating subsidiaries
Bankers Conseco Life Insurance Co., Bankers Life & Casualty Co.,
Washington National Insurance Co., and Colonial Penn Life Insurance
Co.

"The positive outlook reflects CNO Financial's continued
improvement of its business and financial risk profiles," said
Standard & Poor's credit analyst Anthony Beato.  This has been
achieved through various de-risking initiatives to reduce legacy
related exposures from Conseco Life Insurance Co., while reducing
exposure to lifetime benefit long-term care product offerings.  CNO
Financial also continues to grow its sales (with a market focus on
life, annuity, Medicare supplement, and supplemental health
products), as measured by net annualized premiums of more than $425
million as of year-end 2014.  This growth in sales continues to
improve the organization's operating performance, leading to a
generally accepted accounting principles (GAAP) adjusted EBIT as of
year-end 2014 of $434 million, up about 31% since 2010.  The
organization also is focused on the profitability and margins of
its product lines, reserving conservatively where necessary.

The positive outlook reflects S&P's view that it could raise the
ratings on CNO Financial Group in the next 18-24 months.  This is
based on S&P's expectation that the company will sustain its
position in the middle and senior markets while further improving
its robust sales growth at profitable margins, potentially through
agent productivity gains.  S&P also expects CNO Financial to
further improve its operating performance on a GAAP basis,
reporting consistent return on equity metrics in excess of 7%. This
would be accomplished by reporting GAAP adjusted EBIT in excess of
$375 million consistently, with expected increases in premiums
earned translating to revenue in excess of $2.7 billion.

"We could affirm our ratings on CNO Financial with a stable outlook
if, contrary to our expectations, CNO Financial's operating
performance as measured by adjusted EBIT, return on revenue, return
on assets, and operating margin were to deteriorate to
significantly less than our expectations for a prolonged period
outside of our two-year ratings horizon.  Such could be caused by
significant decreases in earned premium or investment yield, by
significant increases in claims incurred, or through reserve
charges related to long-term care.  We could also affirm the
current ratings if CNO Financial were to adopt more-aggressive
financial policies resulting in increases in share repurchase
guidance, financial leverage metrics in excess of 35%, and EBITDA
fixed-charge coverage of less than 5.0x for a prolonged period of
time," S&P said.

"We expect CNO Financial to maintain its upper adequate financial
risk profile, as it further de-risks certain business lines while
investing in operational efficiencies to improve margin across the
enterprise.  Through 2016, we expect CNO Financial to report
top-line margin growth due to continued investment in
care-management protocols in its Medicare supplement and long-term
care lines of business, while improving its life sales through its
operating subsidiaries.  This will translate to a statutory
adjusted EBIT in excess of $315 million annually, with growth in
overall assets, resulting in a return on assets in excess of 175
basis points.  We also expect CNO Financial to become more
conservative with its capital management and deployment strategies,
decreasing dividends from its operating subsidiaries to help foster
growth and defend against the low interest rate environment.  We
expect CNO Financial to maintain capital within or above our 'BBB'
ratings confidence level as measured by our risk-based capital
model for the next 18-24 months.  We also expect the company to
maintain financial leverage of less than 35% and EBITDA
fixed-charge coverage in excess of 7.0x," S&P added.



COLLAVINO CONSTRUCTION: CCCI Has Until July 14 to Propose Plan
--------------------------------------------------------------
The Hon. Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York granted Collavino Construction
Company Inc. an extension of its exclusive period to file a chapter
11 plan until July 14, 2015, and the time to solicit acceptances
for that plan until Sept. 14.

                   About Collavino Construction

Family-owned The Collavino Group owns entities that operate in
various sectors of the construction industry in the New York-New
Jersey metropolitan area, Canada, and the Detroit metropolitan
area. The Collavino Group performs contracts in both the public and
private sectors as a general contractor, design-build consultant,
construction manager and prime subcontractor for
cast-in-place and precast concrete works.

CCCI sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
14-12908) on Oct. 17, 2014  CCCL sought Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 15-10344) on Feb. 18, 2015.

CCCL disclosed $88,418,514 in assets and $6,274,097 in liabilities
as of the Chapter 11 filing.

Judge Shelley C. Chapman presides over the cases.  The Court has
entered an order approving joint administration of the two cases.
The Debtors tapped Cullen and Dykman LLP as counsel, and Peckar &
Abramson, P.C., as special litigation counsel.



COLLEGE PROPERTIES: Summary Judgment in Malpractice Case Affirmed
-----------------------------------------------------------------
The Court of Appeals of Arizona, Division One, affirmed the
superior court's grant of summary judgment in the case captioned
ANTHONY DE PETRIS, an individual, and PATRICIA PALMER, an
individual, Plaintiffs/Appellants, v. CLIFFORD B. ALTFELD; JOHN F.
BATTAILE; ALTFELD, BATTAILE & GOLDMAN, P.C., Defendants/Appellees,
NO. 1 CA-CV 13-0740 (Ariz. Ct. App., Div. One)

Anthony De Petris and Patricia Palmer filed a legal malpractice
action against their former lawyers Clifford B. Altfeld, John F.
Battaile, and the law firm of Altfeld, Battaile & Goldman, P.C.
("law firm"), alleging that the lawyers abandoned them to become
special counsel to the Bankruptcy Trustee in the Chapter 11 case of
the defendants in a lawsuit they filed in Pinal County.

The lawyers and the law firm successfully moved for summary
judgment arguing that De Petris and Palmer had failed to
demonstrate a genuine issue of material fact on the issue of
causation and damages.

De Petris and Palmer appealed, arguing that they presented
sufficient evidence to support their contention that when their
lawyers switched sides, they were abandoned, which, as a result,
contributed to their damages.

The appellate court, however, disagreed.  It held that De Petris'
deposition testimony and expert's affidavit did not establish that
"but for" the lawyers switching sides to be special counsel, De
Petris and Palmer would have been more successful in the Bankruptcy
Court proceedings.

                            Background

De Petris and Palmer, amongst others, invested in two limited
partnerships established to acquire real property for investment
purposes.  Years later they subsequently became concerned that the
general partner of the limited partnerships, Thomas D'Ambrosino,
had transferred property from the limited partnerships into other
entities he controlled and, as a result, they hired a law firm in
2004 to sue D'Ambrosino and others. Altfeld and Battaile
subsequently filed a complaint and an application for temporary
restraining order and preliminary injunction in Pinal County
against College Properties, D'Ambrosino, Black Mountain Estates,
Montage, Inc., and others.

Some ten months later, the limited partnership defendants in that
lawsuit sought bankruptcy protection by filing Chapter 11
bankruptcy petitions that were consolidated. As a result of the
automatic stay, the litigation in Pinal County was stayed until the
lawyers had it removed to the Bankruptcy Court as an adversary
proceeding.

The lawyer for the Bankruptcy Trustee, recognizing the ground work
the lawyers had done in the state court litigation, moved to
appoint the lawyers and their law firm as special counsel to the
Trustee to prosecute that litigation in Bankruptcy Court. The
motion was granted in June 2006 subject to the law firm severing
their legal relationship with their clients. The lawyers then sent
De Petris and Palmer a letter informing them of the order, with a
copy of the order, and advising them that they needed to hire new
counsel to handle their interests in the Bankruptcy Court. De
Petris and Palmer retained new counsel.

The Bankruptcy Court subsequently approved the sale of the real
property. Four months later, De Petris and Palmer, along with
others, attended a settlement conference; the discussion continued
and eventually led to a written settlement and comprehensive
release. Although they objected to the terms of the proposed
settlement, the proposal included sufficient funds to allow De
Petris and Palmer to recover their investment and some interest.
Despite their objection and opting out of the agreement, the
settlement was approved by the Bankruptcy Court.  Although the
funds were later disbursed, the court retained the settlement funds
for De Petris and Palmer.

De Petris and Palmer unsuccessfully appealed the approved
settlement to the United States Bankruptcy Appellate Panel of the
Ninth Circuit. The Trustee, as a result, was allowed to levy
surcharges against their share of the settlement funds for
unnecessarily increasing the cost of litigation, which depleted
nearly all of their $128,680.20 in retained funds.

De Petris and Palmer then filed the legal malpractice action.

A copy of the May 26, 2015 memorandum decision is available at
http://is.gd/6rVwVyfrom Leagle.com.

The Nathanson Law Firm, Scottsdale, By Philip J. Nathanson, Alon
Stein, Counsel for Plaintiffs/Appellants.

Broening, Oberg, Woods & Wilson, PC, Phoenix, By Donald Wilson, Jr.
-- dwj@bowwlaw.com -- Jathan P. McLaughlin -- jpm@bowwlaw.com --
Counsel for Defendants/Appellees.

Headquartered in Phoenix, Arizona, College Properties 1 & 2
Limited Partners filed for chapter 11 protection on June 3, 2005
(Bankr. D. Ariz. Case No. 05-10095).  John T. Ryan, Esq., of
Phoenix, Arizona, represented the Debtor in its restructuring
efforts.  When the Debtor filed for protection from its creditors,
it estimated assets and debts between $1 million to $10 million.

The Bankruptcy Court later named Brian Mullen as the Chapter 11
Trustee and authorized him to employ Osborn Maledon P.A. as his
counsel.


COLT DEFENSE: Canada Court Issues Recognition Order
---------------------------------------------------
The Ontario Superior Court of Justice issued an initial recognition
order and a supplemental order recognizing the Chapter 11 cases of
Colt Holding Company LLC and its debtor-affiliates as "foreign main
proceeding"; and named Colt Holding as the foreign representative
of the Chapter 11 Debtors.

Counsel to the foreign representative is:

Gowling Lafleur Henderson LLP
100 King Street West, Suite 1600
Toronto, Ontario M5X 1G5
Attention: Jennifer Stam
Tel: 416.862.5697
Fax: 416.862.7661
Email: jennifer.stam@gowlings.com

                            About Colt

Colt Defense LLC is one of the world's oldest and most iconic
designers, developers, and manufacturers of firearms for military,
law enforcement, personal defense, and recreational purposes and
was founded over 175 years ago by Samuel Colt, who patented the
first commercial successful revolving cylinder firearm in 1836 and
began supplying U.S. and international military customers with
firearms in 1847.  Colt is incorporated in Delaware and
headquartered in West Hartford, Connecticut.

In 1992, Colt Manufacturing Company, then the principal operating
subsidiary, filed chapter 11 petitions in the U.S. Bankruptcy
Court
for the District of Connecticut.  An investment by Zilkha & Co.
allowed CMC to confirm a chapter 11 plan and emerge from
bankruptcy
in 1994.

Sometime after 1994, majority ownership of the Company
transitioned
from Zilkha & Co. to Sciens Capital Management.

On June 14, 2015, Colt Holding Company LLC and 9 affiliates,
including Colt Defense LLC, filed voluntary petitions for relief
under Chapter 11 of the United States Bankruptcy Code to pursue a
sale of the assets as a going concern.  The cases are pending
joint
administration under Case No. 15-11296 (Bankr. D. Del.).

Colt Defense estimated $100 million to $500 million in assets and
debt.

The Debtors tapped Richards, Layton & Finger, P.A., and O'Melveny
&
Myers LLP, as attorneys, and Kurtzman Carson Consultants LLC as
claims and noticing agent.


COLT DEFENSE: Terms of Cortland's $6.67 Million DIP Loan
--------------------------------------------------------
Colt Defense LLC and certain of its subsidiaries and affiliates on
June 16, 2015, entered into a Senior Secured Super-Priority
Debtor-in-Possession Credit Agreement dated as of June 16, 2015
with Cortland Capital Market Services LLC, as agent, and certain
lenders party thereto from time to time.  The Senior DIP Credit
Agreement provides for a term loan commitment of up to
approximately $6.67 million consisting of an initial term loan of
approximately $2.00 million and, subject to certain conditions
being met, including the entry of certain orders by the bankruptcy
court, subsequent additional draws of approximately $1.33 million
and $3.33 million.  

Under the Senior DIP Credit Agreement, the Company's obligations
are secured by a first-priority security interest in substantially
all of its assets (other than intellectual property), including
accounts receivable, inventory and certain other collateral, and a
second-priority security interest in the intellectual property. The
Senior DIP Credit Agreement provides for the accrual of interest at
a fixed rate of 12.5% per annum payable in cash monthly in arrears.
The Senior DIP Credit Agreement matures on the earliest of:

     (i) October 14, 2015,

    (ii) the closing date of the Company's previously disclosed
contemplated Section 363 sale,

   (iii) the substantial consummation of a plan of reorganization
or liquidation filed in the chapter 11 cases that is confirmed by
the bankruptcy court and recognized by the Ontario Superior Court
of Justice (Commercial List), and

    (iv) the date of acceleration of the term loan under the Senior
DIP Credit Agreement.

The Senior DIP Credit Agreement limits the Company's ability to
incur additional indebtedness, make certain investments or
restricted payments, pay dividends and merge, acquire or sell
assets.  The Senior DIP Credit Agreement requires the Company to
comply with financial covenants which primarily relate to limiting
the amount of capital expenditures of the Company, maintaining a
minimum amount of collateral (measured as the sum of cash and cash
equivalents, undrawn commitments under the Senior DIP Credit
Agreement and the Term DIP Loan Agreement, inventory and accounts
receivable, each as determined in accordance with the Senior DIP
Credit Agreement) and a minimum amount of inventory.  The Senior
DIP Credit Agreement also requires the Company to comply with an
approved budget subject to limited variances in respect of its
disbursements and receipts.

The Company is in compliance with the financial covenants.

The Senior DIP Credit Agreement also contains customary events of
default including, but not limited to, no material litigation or
defaults under material contracts and no material adverse change,
as well as events of default involving cases under chapter 11 of
title 11 of the United States Code, including but not limited to,
the Company's compliance with orders of the bankruptcy court.

Proceeds from the term loan under the Senior DIP Credit Agreement
will be used to provide liquidity for the Company, including
liquidity to allow the Company to continue to manage its properties
and operate its business as debtor-in-possession in accordance with
the applicable provisions of the Bankruptcy Code and the orders of
the bankruptcy court while implementing the Section 363 sale
process; provided that the use of proceeds is limited by a budget
that is subject to the approval of the lenders party to the Senior
DIP Credit Agreement.

A copy of the Senior Secured Super-Priority Debtor-in-Possession
Credit Agreement, dated as of June 16, 2015, by and among the
Company, Cortland, as agent, and certain lenders party thereto from
time to time, is available at http://is.gd/8UiwCp

Cortland may be reached at:

     Cortland Capital Market Services LLC
     225 W. Washington Street, Suite 2100
     Chicago, IL 60606
     Attn: Ryan Morick and Legal Department
     Fax: (312) 376-0751
     E-mail: ryan.morick@cortlandglobal.com
            legal@cortlandglobal.com

Cortland is represented by:

     HOLLAND & KNIGHT LLP
     131 S. Dearborn Street, 30th Floor
     Chicago, IL 60603
     Attn: Joshua M. Spencer, Esq.
     Fax: (312) 578-6666
     E-mail: Joshua.spencer@hklaw.com

          - and -

     STROOCK & STROOCK & LAVAN LLP
     180 Maiden Lane
     New York, NY 10038
     Attn: Brett Lawrence, Esq.
     Fax: (212) 806-6006

          - and -

     OSLER, HOSKIN & HARCOURT LLP
     Box 50, 1 First Canadian Place
     Toronto, ON M5X 1B8
     Attn: Richard Borins, Esq.
           Tracy Sandler, Esq.
     Fax: 416-862-6666
     E-mail: rborins@osler.com
             tsandler@osler.com

                            About Colt

Colt Defense LLC is one of the world's oldest and most iconic
designers, developers, and manufacturers of firearms for military,
law enforcement, personal defense, and recreational purposes and
was founded over 175 years ago by Samuel Colt, who patented the
first commercial successful revolving cylinder firearm in 1836 and
began supplying U.S. and international military customers with
firearms in 1847.  Colt is incorporated in Delaware and
headquartered in West Hartford, Connecticut.

In 1992, Colt Manufacturing Company, then the principal operating
subsidiary, filed chapter 11 petitions in the U.S. Bankruptcy
Court for the District of Connecticut.  An investment by Zilkha &
Co. allowed CMC to confirm a chapter 11 plan and emerge from
bankruptcy in 1994.

Sometime after 1994, majority ownership of the Company transitioned
from Zilkha & Co. to Sciens Capital Management.

On June 14, 2015, Colt Holding Company LLC and 9 affiliates,
including Colt Defense LLC, filed voluntary petitions for relief
under Chapter 11 of the United States Bankruptcy Code to pursue a
sale of the assets as a going concern.  The cases are pending
joint administration under Case No. 15-11296 (Bankr. D. Del.).

Colt Defense estimated $100 million to $500 million in assets and
debt.

The Debtors tapped Richards, Layton & Finger, P.A., and O'Melveny
& Myers LLP, as attorneys, and Kurtzman Carson Consultants LLC as
claims and noticing agent.


COLT DEFENSE: Terms of Wilmington's $13.33 Million DIP Loan
-----------------------------------------------------------
Colt Defense LLC and certain of its subsidiaries and affiliates on
June 16, 2015, entered into a Senior Secured Superpriority
Debtor-in-Possession Term Loan Agreement dated as of June 16, 2015
with Wilmington Savings Fund Society, FSB, as agent, and certain
lenders party thereto from time to time.  The Term DIP Loan
Agreement provides for a term loan commitment of up to
approximately $13.33 million consisting of an initial term loan of
approximately $4.00 million and, subject to certain conditions
being met, including the entry of certain orders by the bankruptcy
court, subsequent additional draws of approximately $2.67 million
and $6.67 million.

Under the Term DIP Loan Agreement, the Company's obligations are
secured by a first-priority security interest in its intellectual
property and a second-priority security interest in substantially
all of its assets other than its intellectual property, including
accounts receivable, inventory and certain other collateral. The
Term DIP Loan Agreement provides for the accrual of interest at a
fixed rate of 12.5% per annum payable in cash monthly in arrears.
The Senior DIP Credit Agreement matures on the earliest of:

     (i) October 14, 2015,

    (ii) the closing date of the Company's previously disclosed
contemplated Section 363 sale,

    (iii) the substantial consummation of a plan of reorganization
or liquidation filed in the chapter 11 cases that is confirmed by
the bankruptcy court and recognized by the Ontario Superior Court
of Justice (Commercial List) and

     (iv) the date of acceleration of the term loan under the Term
DIP Loan Agreement.

The Term DIP Loan Agreement limits the Company's ability to incur
additional indebtedness, make certain investments or restricted
payments, pay dividends and merge, acquire or sell assets. The Term
DIP Loan Agreement requires the Company to comply with financial
covenants which primarily relate to limiting the amount of capital
expenditures of the Company, maintaining a minimum amount of
collateral (measured as the sum of cash and cash equivalents,
undrawn commitments under the Senior DIP Credit Agreement and the
Term DIP Loan Agreement, inventory and accounts receivable, each as
determined in accordance with the Term DIP Loan Agreement) and a
minimum amount of inventory. The Term DIP Loan Agreement also
requires the Company to comply with an approved budget subject to
limited variances in respect of its disbursements and receipts.  

The Company is in compliance with the financial covenants.

The Term DIP Loan Agreement also contains customary events of
default including, but not limited to, no material litigation or
defaults under material contracts and no material adverse change,
as well as events of default involving cases under the Bankruptcy
Code, including but not limited to, the Company's compliance with
orders of the bankruptcy court.

Proceeds from the term loan under the Term DIP Loan Agreement will
be used to provide liquidity for the Company, including liquidity
to allow the Company to continue to manage its properties and
operate its business as debtor-in-possession in accordance the
applicable provisions of the Bankruptcy Code and the orders of the
bankruptcy court while implementing the Section 363 sale process;
provided that the use of proceeds is limited by a budget that is
subject to the approval of the lenders party to the Term DIP Loan
Agreement.

A copy of the Senior Secured Superpriority Debtor-in-Possession
Term Loan Agreement, dated as of June 16, 2015, by and among the
Company, Wilmington, as agent, and certain lenders party thereto
from time to time, is available at http://is.gd/1qQO8T

Wilmington may be reached at:

     Wilmington Savings Fund Society, FSB
     500 Delaware Avenue, 11th Floor
     Wilmington, DE 19801
     Attn: Kristin Moore
     Fax: (302) 421-9137
     Tel: (302) 573-3239
     E-mail: kmoore@wsfsbank.com

Wilmington is represented by:

     PRYOR CASHMAN LLP
     7 Times Square
     New York, NY 10036
     Attn: Eric M. Hellige, Esq.
     Fax: (212) 798-6380
     Tel: (212) 326-0846
     E-mail: ehellige@pryorcashman.com

          - and -

     WILLKIE FARR & GALLAGHER LLP
     787 Seventh Avenue
     New York, NY 10019
     Attn: Leonard Klingbaum, Esq.
     Fax: (212) 728-9290
     Tel: (212) 728-8290
     E-mail: lklingbaum@willkie.com

                            About Colt

Colt Defense LLC is one of the world's oldest and most iconic
designers, developers, and manufacturers of firearms for military,
law enforcement, personal defense, and recreational purposes and
was founded over 175 years ago by Samuel Colt, who patented the
first commercial successful revolving cylinder firearm in 1836 and
began supplying U.S. and international military customers with
firearms in 1847.  Colt is incorporated in Delaware and
headquartered in West Hartford, Connecticut.

In 1992, Colt Manufacturing Company, then the principal operating
subsidiary, filed chapter 11 petitions in the U.S. Bankruptcy
Court for the District of Connecticut.  An investment by Zilkha &
Co. allowed CMC to confirm a chapter 11 plan and emerge from
bankruptcy in 1994.

Sometime after 1994, majority ownership of the Company transitioned
from Zilkha & Co. to Sciens Capital Management.

On June 14, 2015, Colt Holding Company LLC and 9 affiliates,
including Colt Defense LLC, filed voluntary petitions for relief
under Chapter 11 of the United States Bankruptcy Code to pursue a
sale of the assets as a going concern.  The cases are pending
joint administration under Case No. 15-11296 (Bankr. D. Del.).

Colt Defense estimated $100 million to $500 million in assets and
debt.

The Debtors tapped Richards, Layton & Finger, P.A., and O'Melveny
& Myers LLP, as attorneys, and Kurtzman Carson Consultants LLC as
claims and noticing agent.


COLT HOLDING: Delays Showdown with Bondholders
----------------------------------------------
Peg Brickley and Stephanie Gleason, writing for The Wall Street
Journal, reported that Colt Defense LLC has pushed back until
today, June 24, a planned showdown with bondholders that are
offering what they say is a superior financing package to get the
company through bankruptcy.

According to the report, Colt's lawyers say it wants to take more
time to review the loan offer from bondholders, which is an
alternative to a deal the company brought with it to bankruptcy
court last week.  Colt asked for the adjournment in an emergency
hearing last June 19 before Judge Laurie Silverstein, seeking
"additional time for a consensual resolution of the otherwise
costly litigation," in the words of company lawyer John Rapisardi,
the Journal related.

                            About Colt

Colt Defense LLC is one of the world's oldest and most iconic
designers, developers, and manufacturers of firearms for military,
law enforcement, personal defense, and recreational purposes and
was founded over 175 years ago by Samuel Colt, who patented the
first commercial successful revolving cylinder firearm in 1836 and
began supplying U.S. and international military customers with
firearms in 1847.  Colt is incorporated in Delaware and
headquartered in West Hartford, Connecticut.

In 1992, Colt Manufacturing Company, then the principal operating
subsidiary, filed chapter 11 petitions in the U.S. Bankruptcy Court
for the District of Connecticut.  An investment by Zilkha & Co.
allowed CMC to confirm a chapter 11 plan and emerge from bankruptcy
in 1994.

Sometime after 1994, majority ownership of the Company transitioned
from Zilkha & Co. to Sciens Capital Management.

On June 14, 2015, Colt Holding Company LLC and 9 affiliates,
including Colt Defense LLC, filed voluntary petitions for relief
under Chapter 11 of the United States Bankruptcy Code to pursue a
sale of the assets as a going concern.  The cases are pending joint
administration under Case No. 15-11296 (Bankr. D. Del.).

Colt Defense estimated $100 million to $500 million in assets and
debt.

The Debtors tapped Richards, Layton & Finger, P.A., and O'Melveny &
Myers LLP, as attorneys, and Kurtzman Carson Consultants LLC as
claims and noticing agent.


COLT HOLDING: Proposes to Sell Assets to Sciens Capital
-------------------------------------------------------
Colt Holding Company LLC, et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to sell substantially
all of their assets to Sciens Capital Management.

The aggregate consideration the Debtors will receive under the
Stalking Horse Agreement will be: (i) the assumption of the Senior
Loan, the Term Loan and DIP Facccilllity; (ii) the assumption of
certain liabilities, and (iii) the assumption of certain executory
contracts and unexpired leases.

Prior to the Petition Date, Sciens indicated that it will
contribute $5 million in incremental capital in the form of
non-cash pay preferred equity and an increase in the amount of
notes offered to Senior Noteholders by approximately $34 million,
from $78.3 million to $112.5 million.  Scien's sponsorship was
included in a restructuring support agreement, which served as the
backbond of a prepackaged plan.  The prepackaged plan, however, was
rejected by Senior Noteholders.

In order to maximize the value of the Debtors' assets, the Debtors
propose to sell the assets through a public auction.  The deadline
for a potential bidder to submit bids is July 30.  If two or more
bids are received, an auction will be conducted at the offices of
O'Melveny & Myers LLP, in New York, and commence on Aug. 3, at
10:00 a.m. (EDT).

The Debtors propose that the sale hearing be conducted by the Court
on Aug. 7.  Objections must be filed no later than July 31.

                            About Colt

Colt Defense LLC is one of the world's oldest and most iconic
designers, developers, and manufacturers of firearms for military,
law enforcement, personal defense, and recreational purposes and
was founded over 175 years ago by Samuel Colt, who patented the
first commercial successful revolving cylinder firearm in 1836 and
began supplying U.S. and international military customers with
firearms in 1847.  Colt is incorporated in Delaware and
headquartered in West Hartford, Connecticut.

In 1992, Colt Manufacturing Company, then the principal operating
subsidiary, filed chapter 11 petitions in the U.S. Bankruptcy Court
for the District of Connecticut.  An investment by Zilkha & Co.
allowed CMC to confirm a chapter 11 plan and emerge from bankruptcy
in 1994.

Sometime after 1994, majority ownership of the Company transitioned
from Zilkha & Co. to Sciens Capital Management.

On June 14, 2015, Colt Holding Company LLC and 9 affiliates,
including Colt Defense LLC, filed voluntary petitions for relief
under Chapter 11 of the United States Bankruptcy Code to pursue a
sale of the assets as a going concern.  The cases are pending
joint administration under Case No. 15-11296 (Bankr. D. Del.).

Colt Defense estimated $100 million to $500 million in assets and
debt.

The Debtors tapped Richards, Layton & Finger, P.A., and O'Melveny &
Myers LLP, as attorneys, and Kurtzman Carson Consultants LLC as
claims and noticing agent.


COLT HOLDING: Seeks to Obtain $20.0-Mil. in DIP Loans
-----------------------------------------------------
Colt Holding Company LLC, et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to obtain
postpetition secured debtor-in-possession financing in an aggregate
principal amount of up to $20.0 million.

The DIP Loan consists of (i) a $6,666,667 DIP Facility from
Cortland Capital Market Services, LLC, as agent for a consortium of
lenders; and (ii) a $13,333,333 DIP Facility from Wilmington
Savings Fund Society, FSB, as agent for a consortium of lenders.
The DIP Facilities accrue interest at 12.5% per annum.

The Debtors also seek authority to use cash collateral securing
their prepetition indebtedness.  As of June 15, 2015, the Debtors'
funded debt totals approximately $357.6 million.

According to John J. Rapisardi, Esq., at O'Melveny & Myers LLP, in
New York, the Debtors cannot continue to both compete in a
competitive marketplace and service existing orders without the
liquidity and working capital offered by the DIP Facilities.

Nikhil Menon, a managing director of Perella Weinberg Partners LP,
which is one of the lead restructuring advisors involved in the
Debtors' bankruptcy cases, filed a declaration stating that of the
lenders that expressed an interest in providing postpetition
financing to the Debtors, none offered terms that were as
favorable, let along more favorable, than the terms of the DIP
Facilities.  Mr. Menon says no lender was willing to provide
financing backed by junior liens on the Debtors' collateral.

In connection with the proposed DIP Facilities, the Debtors also
seek Court authority to file under seal letters to pay certain
non-refundable fees to the DIP Agents or lenders.  Due to the
sensitive and confidential nature of the contents of the Fee
Letters, the DIP Agents and Lenders have required that the Fee
Letters not be disclosed publicly, but have consented to the
Debtors' provision of the Fee Letters on a confidential basis to
the U.S. Trustee and counsel to the Prepetition Lenders, and the
filing of the Fee Letters under seal.

The Debtors are also represented by Mark D. Collins, Esq., and
Jason M. Madron, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware; and Peter Friedman, Esq., and Joseph
Zujkowski, Esq., at O'Melveny & Myers LLP, in New York.

                            About Colt

Colt Defense LLC is one of the world's oldest and most iconic
designers, developers, and manufacturers of firearms for military,
law enforcement, personal defense, and recreational purposes and
was founded over 175 years ago by Samuel Colt, who patented the
first commercial successful revolving cylinder firearm in 1836 and
began supplying U.S. and international military customers with
firearms in 1847.  Colt is incorporated in Delaware and
headquartered in West Hartford, Connecticut.

In 1992, Colt Manufacturing Company, then the principal operating
subsidiary, filed chapter 11 petitions in the U.S. Bankruptcy Court
for the District of Connecticut.  An investment by Zilkha & Co.
allowed CMC to confirm a chapter 11 plan and emerge from bankruptcy
in 1994.

Sometime after 1994, majority ownership of the Company transitioned
from Zilkha & Co. to Sciens Capital Management.

On June 14, 2015, Colt Holding Company LLC and 9 affiliates,
including Colt Defense LLC, filed voluntary petitions for relief
under Chapter 11 of the United States Bankruptcy Code to pursue a
sale of the assets as a going concern.  The cases are pending
joint administration under Case No. 15-11296 (Bankr. D. Del.).

Colt Defense estimated $100 million to $500 million in assets and
debt.

The Debtors tapped Richards, Layton & Finger, P.A., and O'Melveny &
Myers LLP, as attorneys, and Kurtzman Carson Consultants LLC as
claims and noticing agent.


CONSTAR INT'L: Exclusive Solicitation Period Extended to Aug. 19
----------------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware extended the exclusive filing period of
Capsule International Holdings LLC, f/k/a Constar International
Holdings LLC, et al., through and including June 19, 2015, and
their exclusive solicitation period through and including Aug. 19,
2015.

The Debtors' exclusive right to file a plan and solicit acceptances
of a Chapter 11 plan continues to be terminated solely to the
extent necessary to permit the Official Committee of Unsecured
Creditors to propose and solicit votes to accept a Chapter 11 plan
for the Debtors.

According to the Debtors' counsel, Evan T. Miller, Esq., at Bayard,
P.A., in Wilmington, Delaware, "[t]he Debtors believe that ample
cause exists to further extend their Exclusive Periods.  Since the
entry of the First, Second, Third, Fourth, Fifth, and Sixth
Exclusivity Orders, the Debtors have been working diligently with
the Creditors' Committee and their retained professionals to
liquidate the Debtors' remaining assets, reconcile claims, and
investigate potential claims and causes of action held by the
Debtors' estates, which the Committee believes are the main issues
that must be resolved before the Committee may propose a
confirmable chapter 11 plan.  The Debtors and the Committee,
through, inter alia, their joint retention of Diamond, have made
and continue to make substantial progress in their ongoing
investigation and effort to liquidate the Lender KEIP claims."

Mr. Miller adds that as a result, the Debtors are seeking an
extension of their Exclusive Periods in order to effectuate the
Committee's proposal of the Plan and solicitation of votes in
support thereof as contemplated by the Term Sheet.

                   About Constar International

Privately held Constar International Holdings and nine affiliated
debtors (nka Capsule International Holdings, et al.) filed for
Chapter 11 protection (Bankr. D. Del. Lead Case No. 13-13281) on
Dec. 19, 2013.

Constar, which manufactures plastic containers, is represented by
Michael J. Sage, Esq., Brian E. Greer, Esq., Stephen M. Wolpert,
Esq., and Janet Bollinger Doherty, Esq., at Dechert LLP; and Robert
S. Brady, Esq., and Sean T. Greecher, Esq., at Young Conaway
Stargatt & Taylor, LLP.  Prime Clerk LLC serves as the Debtors'
claims and noticing agent, and administrative advisor.  Lincoln
Partners Advisors LLC serves as the Debtors' financial advisor.

Judge Christopher S. Sontchi oversees the 2013 case.

This is Constar International's third bankruptcy.  Constar first
filed for Chapter 11 protection (Bankr. D. Del. Lead Case No.
08-13432) in December 2008, with a pre-negotiated Chapter 11 Plan
and emerged from bankruptcy in May 2009.  Constar and its
affiliates returned to Chapter 11 protection (Bankr. D. Del. Case
No. 11-10109) on Jan. 11, 2011, with a pre-negotiated Chapter 11
plan and emerged from bankruptcy in June 2011.

The new petition listed assets worth less than $100 million against
$123 million on three layers of secured debt.

Attorneys at Brown Rudnick LLP represent the official committee of
unsecured creditors.  The Committee retained Alvarez & Marsal North
America LLC as its financial advisor.

Counsel to Wells Fargo Capital Finance, LLC, the revolving loan
agent, is Andrew M. Kramer, Esq., at Otterbourg P.C.

On Feb. 10, 2014, the Bankruptcy Court authorized Constar to sell
certain assets to Plastipak Packaging, Inc., a global manufacturer
of rigid plastic packaging.  The Court determined that Plastipak's
$102,450,000 offer for the Debtors' U.S. assets bested the offers
from Amcor Rigid Plastics USA, Inc., and Envases Universales De
Mexico S.A.P.I. De C.V. during a Feb. 6 auction.

Separately, the Court authorized Constar to sell a facility in
Havre de Grace, Maryland, to Smucker Natural Foods, Inc., for
$3 million.  There was no other bidder for the Maryland
facility.

The sole director of debtor Constar International U.K. Limited has
appointed Daniel Francis Butters and Nicolas Guy Edwards of
Deloitte LLP as administrators.  The U.K. Administration Proceeding
follows the closing of the sale of the U.K. assets to Sherburn
Acquisition Limited.  The Delaware Bankruptcy Judge authorized the
U.S. Debtors to sell the U.K. Assets to Sherburn for GBP3,512,727,
(or US$7,046,000), less the deposit in the sum of US$1,250,000.

Secured lender Black Diamond Commercial Finance, LLC, as DIP note
agent, and Wells Fargo Capital Finance, LLC, as DIP revolving agent
and agent under the revolving loan facility, consented to the
administration of Constar U.K. and the appointment of the Joint
Administrators.

In view of the asset sales in the U.S. and the U.K., the Debtors
changed their corporate trade names -- and with the Bankruptcy
Court's consent, their bankruptcy case caption -- to Capsule Group
Holdings, Inc.; Capsule Intermediate Holdings, Inc.; Capsule Group,
Inc.; Capsule International LLC; Capsule DE I, Inc.; Capsule DE II,
Inc.; Capsule PA, Inc.; Capsule Foreign Holdings, Inc.; and Capsule
International U.K. Limited (Foreign).


CORINTHIAN COLLEGES: Few Students Expected to File Claims
---------------------------------------------------------
Stephanie Gleason, writing for The Wall Street Journal, reported
that only a fraction of former students are likely to file a claim
in Corinthian Colleges Inc.'s bankruptcy case, according to a law
firm representing them, as students armed with little information
face numerous administrative tasks to recoup losses.

"If the process goes as it is, maybe 6% of students will file the
appropriate papers," Mark Rosenbaum of Public Counsel, which is one
of the law firms representing students in Corinthian's bankruptcy
case, told the Journal.

Students have until July 20 to complete the forms, or they could
forfeit their right to any recovery in Corinthian's bankruptcy
case, the Journal noted.

                     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: Has Nod to Conduct & Consummate Asset Sales
----------------------------------------------------------------
The Hon. Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware has authorized Corinthian Colleges, Inc., et
al., to conduct and consummate asset sales exceeding the thresholds
set forth in the de minimis asset sale order.

On May 6, 2015, the Debtors sought the Court's authorization ton
conduct and consummate the asset sales.

On May 12, 2015, San Joaquin Valley College, Inc., offered to
purchase from Debtor Rhodes College, Inc., assets as described at:

                     http://is.gd/euhbdG

The aggregate purchase price for the purchased assets is $200,000.

On May 27, the Court also authorized the retention and employment
of FTI Consulting, Inc., as crisis manager and designation of
William J. Nolan as chief restructuring officer nunc pro tunc to
the Petition Date.  As reported by the Troubled Company Reporter on
May 22, 2015, the Debtors wanted FTI Consulting to, among other
things: (a) assist the Debtors in connection with their efforts in
their Chapter 11 cases; (b) lead sale processes for the Debtors'
assets; and (c) negotiate, on behalf of the Debtors, proposals
received for the purchase of the Debtors' assets;

                     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: Wants Consulting Pact With Great American
--------------------------------------------------------------
Corinthian Colleges, Inc., et al., are seeking the permission of
the U.S. Bankruptcy Court for the District of Delaware to enter
into consulting/auction agreement with Great American Global
Partners, LLC, and selling its assets in accordance with the
agreement.

A hearing on the Debtors' request is set for June 30, 2015, at 2:00
p.m. (ET).  Any objection to the motion must be filed by June 23,
2015, at 4:00 p.m. (ET).

Pursuant to the terms of the Consulting Agreement, GAGP will serve
as an independent consultant to the Debtors in connection with an
orderly liquidation sale of the Debtors' assets and equipment at
the facilities located at 2131 Technology Place, Long Beach, CA
90810, and 420 Whitney Place, Fremont, CA 94539, to be conducted by
GAGP on behalf of the Debtors, followed by an auction of the Assets
at the Fremont and Long Beach locations and/or on the Internet.  

GAGP anticipates that the auction of the Assets will begin on the
date that the Court enters an order approving the Debtors' motion
for authorization to enter into the Consulting Agreement, and last
no more than 60 days; provided that the sale termination date may
be changed or extended if mutually agreed upon in writing by the
Debtors and GAGP.  

Among other things, GAGP will: (i) provide full time supervisors to
supervise and conduct the sale; (ii) lot, tag, photograph and
catalogue the Assets; (iii) oversee the liquidation and disposal of
the Assets from the Facilities; provided, however, the consultant
reserves the right to abandon at the Facilities any Assets that
have not been sold by the sale termination date; (iv) determine and
implement appropriate marketing to effectively sell the Assets
during the sale term; (v) determine pricing of the Assets if sold
prior to the auction; (vi) oversee execution of the Sale, invoicing
and collection of proceeds from buyers; (vii) provide other related
services deemed necessary or prudent by the Debtors and the
consultant under the circumstances; and (viii) provide the Debtors
with reporting and reconciliation of all accounting information.

Under the terms of the Consulting Agreement, GAGP has guaranteed
the Debtors that the proceeds generated from the sale of the Assets
will be no less than $1.535 million.  GAGP is required to pay the
guaranteed amount to the Debtors within 48 hours of the Court
entering the approval order; which will subsequently be paid to
GAGP from the first $1.535 million in proceeds collected from the
sale of the Assets.  The next available proceeds in the amount of
an additional $100,000 will be used to reimburse
GAGP for the payment of sale expenses.  The sale expenses include
actual direct operating expenses reasonably incurred by GAGP in
connection with the sale, provided that GAGP will not be
responsible for occupancy or related costs for the Facilities
unless the sale extends beyond the anticipated sale termination
date.  Any additional proceeds received from the sale (above $1.635
million) will be split 95% to the Debtors and 5% to GAGP.  GAGP
will also charge buyers (i) a 15% buyer's premium with regards to
Assets sold and (ii) a 3% bidding surcharge with regards to Assets
sold pursuant to online bidding.

A copy of the Consulting Agreement is available for free at:

                        http://is.gd/PqD0G7

                     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.


CTPARTNERS EXECUTIVE: Sale Negotiation Exclusivity Period Expires
-----------------------------------------------------------------
CTPartners Executive Search, Inc., on June 22 disclosed that the
exclusivity period for its negotiations with DHR International Inc.
regarding an acquisition of the Company expired late last week with
no definitive agreement for the sale of the Company as a whole
having been reached.

The Company's business and financial condition have continued to
deteriorate as consultant departures have continued through the
second quarter of 2015.  The Company has been informed that DHR is
seeking to acquire certain of the Company's assets in a transaction
with the Company's lenders, who have the right to acquire those
assets pursuant to the underlying debt documents. DHR has indicated
that it expects to employ many of the Company's consultants and
employees.  There is no assurance that any such transaction will be
completed, and, if completed, the proceeds of such a transaction
are not likely to be sufficient to satisfy all of the Company's
obligations to its lenders and other creditors, and are not
expected to result in any payment to the Company's shareholders.

The Company expects that it would need additional funding to
continue operating beyond June 30, 2015 but does not anticipate
obtaining adequate funds from its current lenders or otherwise.
Consequently, the Company intends to wind down its remaining
operations in an orderly manner, but it may be required cease
operations entirely or seek bankruptcy protection.

                         About CTPartners

CTPartners is a global executive search firm that is designed to
deliver in-depth expertise, creative strategies, and outstanding
results to clients worldwide.  Committed to a philosophy of
partnering with its clients, CTPartners offers a proven track
record in C-Suite, top executive, and board searches, as well as
extensive experience in serving private equity and venture capital
firms.

From its 44 offices in 24 countries, CTPartners serves clients with
a global organization of more than 500 professionals and employees,
offering expertise in board advisory services, key leadership
functions, and executive recruiting services in the financial
services, life sciences, industrial, professional services, retail
and consumer, and technology, media and telecom industries.


DAE AVIATION: S&P Assigns 'B-' Rating on New $925MM Secured Loan
----------------------------------------------------------------
Standard & Poor's Ratings Services said that it has assigned its
'B-' issue-level rating and '3' recovery rating on DAE Aviation
Holdings Inc.'s proposed $925 million secured term loan due 2022.
The '3' recovery rating indicates S&P's expectations of average
(50%-70%; lower end of the range) recovery in the event of a
default.

At the same time, S&P assigned its 'CCC' issue-level rating and '6'
recovery rating on the company's proposed $485 million senior
unsecured notes due 2023.  The '6' recovery rating on the notes
indicates S&P's expectations of negligible (0%-10%) recovery in the
event of a default.  The issue ratings on the term loan and the
notes are based on our likely downgrade of DAE to 'B-' and are not
being placed on CreditWatch.  These ratings will be withdrawn if
the deal does not close.

S&P's 'B' corporate credit rating on DAE Aviation Holdings Inc.
remains on CreditWatch, where it was placed with negative
implications on May 27, 2015.  If the terms of the deal are similar
to those presented to S&P's by management, it expects to lower its
rating on DAE to 'B-' when the deal closes and assign a stable
outlook.

"Our likely downgrade of DAE Aviation Holdings Inc. reflects our
expectation that the company's leverage will increase significantly
following its acquisition by funds affiliated with private equity
firm Veritas Capital," said Standard & Poor's credit analyst
Christopher Denicolo. Veritas is paying approximately $2.1 billion
for the company and will finance the transaction with a $925
million term loan, $485 million of unsecured notes, $20 million of
borrowings from a new $150 million asset-based lending (ABL)
revolver, and $845 million of sponsor equity.  The higher debt
levels will cause DAE's pro forma debt-to-EBITDA metric to increase
to 7.5x-8.0x from 4.7x for the 12 months ended March 31, 2015.  S&P
expects the company's leverage to remain high, with a
debt-to-EBITDA metric of around 7x in 2016, despite its growing
earnings and its use of excess cash flow for debt reduction.

S&P plans to resolve the CreditWatch placement when DAE's
acquisition by Veritas closes.  At that time, S&P will likely lower
its corporate credit rating on the company to 'B-' and assign a
stable outlook if the deal closes on terms that are substantially
the same as those presented to us by management.  The likely
downgrade reflects that the company's debt-to-EBITDA metric will
remain above 6.5x through at least 2017.  S&P's ratings on the
company's proposed term loan and unsecured notes are based on the
lower rating and will not change unless the terms of the
instruments change materially from those presented.



DENDREON CORP: Second Amended Plan of Liquidation Effective
-----------------------------------------------------------
BankruptcyData reported that Dendreon's Second Amended Plan of
Liquidation became effective, and the Company emerged from Chapter
11 protection.

According to BData, documents filed with the U.S. Securities and
Exchange Commission stated, "Subject to the terms and conditions of
the Plan, the Company's 2.875% Convertible Senior Notes due 2016
have been cancelled as of the Effective Date. The consideration
distributable to Holders under the Plan who present their current
2016 Notes as part of the mandatory exchange consists of common
stock of Valeant Pharmaceuticals International, Inc. and
cash....The Company's common stock has been eliminated, cancelled
and extinguished as of the Effective Date. Under the Plan, in the
event that holders of claims on account of the 2016 Notes and
holders of general unsecured claims receive a 100% recovery
(including all accrued but unpaid postpetition interest) pursuant
to the Plan, and all wind-down costs of the Chapter 11 Cases are
satisfied, then the Company's equity security holders shall be
entitled to any residual recovery pursuant to certain procedures
set forth in the Plan, and holders of allowed subordinated claims
shall be entitled to a distribution pari passu with any such
distribution to the Company's equity security holders. The Debtors
do not anticipate that there will be any residual recovery for the
Company's equity security holders.

As of the effective date, Craig Jalbert will be sole director of
the Company and will serve as the Company's sole officer in his
capacity as president, treasurer and secretary, BData said.

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

                         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.


DEWEY & LEBOEUF: Former Partner Details Law Firm Infighting
-----------------------------------------------------------
Sara Randazzo, writing for The Wall Street Journal, reported that
an influential former partner of Dewey & LeBoeuf LLP told a jury on
June 22 that just over three months before the firm fell into
bankruptcy, a meeting of the law firm's key business generators
devolved into finger pointing that presaged the death of the firm.

According to the report, the testimony by Washington, D.C.,
securities lawyer Ralph Ferrara came during the fifth week of a
trial over whether Dewey's three former leaders conspired to commit
financial fraud by lying to lenders and creditors in the run-up to
its May 2012 collapse.

The defendants, former Chairman Steven Davis, ex-Chief Financial
Officer Joel Sanders, and former Executive Director Stephen
DiCarmine, have denied any guilt, the Journal noted.

                      About Dewey & LeBoeuf

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

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

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

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

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

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

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

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

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

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


DIGERATI TECHNOLOGIES: Bid to Strike Granted in Fee Dispute
-----------------------------------------------------------
Bankruptcy Judge Jeff Bohm granted the Motion to Strike Certain
Items from Herrera's Amended Designation of Clerk's Record filed by
secured creditors in the case captioned In re: DIGERATI
TECHNOLOGIES, INC., Chapter 11 Debtor, CASE NO. 13-33264  (Bankr.
S.D. Tex., Houston Div.).

Gilbert A. Herrera and Herrera Partners were employed by debtor
Digerati Technologies, Inc. as investment banker.

On appeal from the order denying his Fee Application, Herrera filed
his Amended Designation of Clerk's Record on February 20, 2015.  On
March 4, 2015, the secured creditors Terry Dishon, Hurley Fairview,
LLC, and Sheyenne Rae Nelson Hurley filed their Motion to Strike
Certain Items from Herrera's Amended Designation of Clerk's Record.
They objected to 60 of the items designated by Herrera.

Applying Fed.R.Bankr.P. Rule 8009(E)(1), Judge Bohm decided to
grant the Motion to Strike.  He found that the 60 items should be
stricken because: (1) Herrera failed to introduce them as exhibits
at the hearing on the Fee Application; (2) this Court did not
consider them in issuing its ruling denying the Fee Application;
(3) Herrera has failed to meet his burden to explain why he did not
introduce them as exhibits at the hearing on the Fee Application;
(4) Herrera has failed to meet his burden to show how striking the
60 Items would prejudice his appeal; and (5) the Secured Creditors
would be prejudiced if the 60 Items are not stricken.

A copy of the May 21, 2015 memorandum opinion is available at
http://is.gd/Unslhqfrom Leagle.com.

                 About Digerati Technologies, Inc.

Digerati Technologies, Inc., filed a Chapter 11 petition (Bankr.
S.D. Tex. Case No. 13-33264) in Houston, on May 30, 2013.  At the
time of its Chapter 11 filing, Digerati --
http://www.digerati-inc.com/-- was a publicly held company whose
primary assets were 100% stock ownership of two oilfield services
companies that the Debtor valued at $30 million each: Hurley
Enterprises, Inc.; and Dishon Disposal, Inc.  The Debtor also owned
Shift 8 Networks, a cloud communication service.  The Debtor has no
independent operations apart from its subsidiaries.

Digerati disclosed $60 million in assets and $62.5 million in
liabilities as of May 29, 2013.

Bankruptcy Judge Jeff Bohm oversees the Chapter 11 case.  Deirdre
Carey Brown, Esq., Annie E. Catmull, Esq., Melissa Anne Haselden,
Esq., Mazelle Sara Krasoff, Esq., and Edward L Rothberg, at Hoover
Slovacek, LLP, in Houston, represent the Debtor as counsel.  The
Debtor tapped Gilbert A. Herrera and Herrera Partners as the
investment banker.

Earlier in the case, Rhode Holdings, LLC, sought the transfer of
venue of Digerati's Chapter 11 case to the U.S. Bankruptcy Court
for the Western District of Texas, San Antonio Division.  The
case, however, remained in the Houston Bankruptcy Court.

Hurley Enterprises and Dishon Disposal sold for approximately $41
million.  Dishon was sold to Buckhorn Disposal, LLC at auction on
June 19, 2014 for $27 million.  The only other bidder was Terry
Dishon with a credit bid of $12.3 million.  The Hurleys submitted
the winning bid for Hurley at auction, with a credit bid of $14
million.

The bankruptcy court confirmed the Debtor's Joint Plan of
Reorganization in an order dated April 4, 2014.  Digerati notified
the Court that the Effective Date of its Joint Plan occurred on
Dec. 31, 2014.  The Plan was proposed by the Debtor, Riverfront
Capital, LLC, Recap Marketing and Consulting, LLP, Rainmaker
Ventures II, Ltd. and WEM Equity Capital Investments, Ltd., Hurley
Fairview, LLC, Terry Dishon, and Sheyenne Rae Nelson Hurley.


DONALD ALLEN: Sale of American Energy Stock to Creditor Affirmed
----------------------------------------------------------------
The United States Court of Appeals, Tenth Circuit affirmed the
district court's order in the case captioned DONALD HARRY ALLEN,
Appellant, v. KAREN ABSHER, Receiver; DELANGHE/BUYSSE, LLC;
ROBERTSON B. COHEN, as Chapter 7 Trustee, Appellees, NO. 14-1242
(10th Cir.).

Debtor Donald Harry Allen appealed the district court's order
affirming the bankruptcy court's order approving the sale of his
remaining stocks in American Energy Resource Corporation ("AERC")
and H&M Petroleum Corporation ("H&M") to his creditor,
DeLanghe/Buysse, LLC ("DL/B").

Allen argued that the business judgment test was not met, because
(1) the bankruptcy court overlooked evidence of bad faith, and (2)
DL/B violated the provision in the term sheet for the loans that he
obtained from DL/B.

The appellate court, however, rejected Allen's arguments because he
failed to support his allegations.  He presented no evidence of bad
faith, collusion, misconduct, or fraud, nor evidence that the sale
was not an arm's-length transaction.  He also did not provide
evidence that DL/B breached the term sheet, prevented him from
repaying the loan or from regaining control of AERC and H&M, or
inappropriately colluded with the trustee for his estate or the
trustee for AERC's and H&M's bankruptcy estates.

A copy of the May 27, 2015 order and judgment is available at
http://is.gd/WjYs4rfrom Leagle.com.

In July 2012, Donald Harry Allen filed a Chapter 7 liquidation
proceeding after failing to make payments due to his creditor,
DeLanghe/Buysse, LLC.  Robertson B. Cohen was appointed as trustee
for Mr. Allen's bankruptcy estate.


DUNE ENERGY: Seeks Oct. 5 Extension of Plan Filing Date
-------------------------------------------------------
BankruptcyData reported that Dune Energy asked the U.S. Bankruptcy
Court to extend the exclusive period during which it can file a
Chapter 11 plan and solicit acceptances thereof through and
including October 5, 2015 and December 3, 2015, respectively.

According to BData, the motion explains, "The Debtors have been
diligently pursuing a sale of all or substantially all of their
assets for the benefit of their estates and creditors. The Debtors
are currently working on a Chapter 11 plan and disclosure
statement, the mechanics of which will depend in part on the
results of the sale process. Considering the current timeline for
approval of the sale and the complexities of the Debtors' Chapter
11 cases, neither the Debtors nor any other party in interest will
be in a position to formulate, promulgate and build consensus for a
Chapter 11 plan before the expiration of the Debtors' exclusive
period to file a Chapter 11 plan on July 6, 2015. By this Motion,
the Debtors seek the entry of an order extending the periods under
Section 1121(b) and (c) of the Bankruptcy Code in which the Debtors
have the exclusive right to file a Chapter 11 plan and to solicit
acceptances of such plan for ninety (90) days, up to and including
October 5, 2015 and December 3, 2015, respectively. The requested
extension is reasonable and necessary given the tasks to be
completed and issues to be resolved before a confirmable Chapter 11
plan can be negotiated and proposed."

                        About Dune Energy

Dune Energy, Inc. (NYSE AMEX: DNE), is an independent energy
company based in Houston, Texas.  Since May 2004, the Company has
been engaged in the exploration, development, acquisition and
exploitation of natural gas and crude oil properties, with
interests along the Louisiana/Texas Gulf Coast.  The Company's
properties cover over 90,000 gross acres across 27 producing oil
and natural gas fields.

Affiliates Dune Energy, Inc. (Bankr. W.D. Tex. Case No. 15-10336),
Dune Operating Company (Bankr. W.D. Tex. Case No. 15-10337), and
Dune Properties, Inc. (Bankr. W.D. Tex. Case No. 15-10338) filed
separate Chapter 11 bankruptcy petitions on March 8, 2015.  The
petitions were signed by James A. Watt, president and chief
executive officer.

Judge Christopher H. Mott presides over the case.  Charles A.
Beckham, Jr., Esq., Kourtney P. Lyda, Esq., and Kelli M.
Stephenson, Esq., at Haynes And Boone, LLP, serve as the Debtors'
bankruptcy counsel.  Deloitte Transactions And Business Analytics
LLP is the Debtors' restructuring advisors.  Parkman Whaling LLC
is
the Debtors' sale professionals.

The Debtors listed $229 million in total assets and $144 million
in
total debts as of Sept. 30, 2014.  In their schedules, Dune Energy
Inc., et al., disclosed $263,337,172 in assets and $107,981,306 in
liabilities.

The U.S. trustee overseeing the Chapter 11 case of Dune Energy
appointed three creditors to serve on the official committee of
unsecured creditors.

                        *   *   *

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


FIRST QUALITY: S&P Affirms 'BB' CCR & Revises Outlook to Negative
-----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed all of its ratings on
Great Neck, N.Y.-based First Quality Enterprises Inc., including
the 'BB' corporate credit rating, and revised the rating outlook to
negative from stable.

At the same time, S&P affirmed its 'BBB-' issue-level rating on the
company's $1.6 billion senior secured bank credit facilities due
2019 with a recovery rating of '1', indicating that lenders could
expect very high (90% to 100%) recovery in the event of a payment
default.  S&P also affirmed its 'BB' issue-level rating on the
company's $600 million senior unsecured notes due 2021 with a
recovery rating of '4', indicating that lenders could expect
average (30% to 50%, in the upper half of the range) recovery in
the event of a payment default.

"The outlook revision to negative from stable reflects the recent
increase in competition in First Quality's segments, our
expectation that the company will continue to generate meaningful
negative discretionary cash flow over the next two years, and
credit ratios that we expect to remain close to levels previously
specified for a downgrade, which included around 4x adjusted
leverage," said Standard & Poor's credit analyst Gerald Phelan.

Based on Standard & Poor's criteria, S&P assess First Quality's
liquidity as "adequate"; however, a revision to "less than
adequate" and resultant one-notch downgrade is possible if the
company becomes contractually required to make meaningful equipment
purchases in 2016 without, in S&P's view, sufficient funding
sources.

S&P's ratings on First Quality reflect the company's defensible
position primarily as a private-label products manufacturer in
categories with stable end-user demand (notably adult care, towel
and tissue, and infant care), and its satisfactory track record of
organic earnings growth over the last few years (excluding recall
and litigation charges in 2014), primarily driven by utilization of
new capacity.  S&P considers the company to be a relatively
efficient operator, with operating profit margins similar to peers'
and working capital turnover generally consistent with industry
norms.

S&P has also factored into its rating First Quality's customer
concentration and weak bargaining power with significant customers,
particularly with Wal-Mart and Sam's Club.  Moreover, the company
faces intense competition from solid, well-established branded and
private-label manufacturers such as Kimberly-Clark Corp., Procter &
Gamble Co., Clearwater Paper Corp., Georgia-Pacific LLC, and
Svenska Cellulosa Aktiebolaget SCA.

The negative outlook reflects the recent increase in competition in
First Quality's segments, S&P's expectation that the company will
continue to generate meaningful negative discretionary cash flow
over the next two years due to ongoing investments to expand
capacity and make dividend payments, and S&P's expectation that
credit ratios will remain close to levels previously specified for
a downgrade, which include around 4x adjusted leverage.  S&P could
lower the ratings if it forecasts the company will sustain leverage
above 4x, which could occur if EBITDA declines by a mid- to
high-single-digit rate, potentially owing to customer losses,
difficulties finding sufficient business to fill new capacity, or
intensifying competition.  S&P could also lower its ratings if it
reassess its view of First Quality's liquidity to "less than
adequate" from "adequate", which could occur if the company becomes
contractually obligated for large equipment purchases without, in
S&P's view, sufficient committed financing in place.

S&P could revise the outlook to stable if it believes the company
will maintain "adequate" liquidity while successfully bringing on
new capacity such that credit ratios improve, including leverage
steadily declining towards the mid-3x area.  S&P estimates this
could occur if EBITDA -- which was weakened in 2014 by special
charges -- grows by about 20%.



FRAC SPECIALISTS: Lessor Seeks $25K Monthly Payment for Equipment
-----------------------------------------------------------------
People's Capital and Leasing Corp. asks the U.S. Bankruptcy Court
for the Northern District of Texas, Fort Worth Division, to lift
the automatic stay imposed in the Chapter 11 cases of Frac
Specialists, LLC, and its debtor affiliates.

PCLC explained that the automatic stay should be lifted for cause
with regard to a master lease and because the Debtors do not have
equity in the equipment subject to the master lease.  In the
alternative, PCLC asks the Court to require the Debtors to make
adequate protection payments in the amount of $25,350 per month in
connection with the master lease.

The average monthly rent due to PCLC from the Debtors is $173,570,
and, according to PCLC, the Debtors have not made the monthly
rental payment due in May 2015.

PCLC is represented by:

         J. Scott Rose, Esq.
         Jeffrey G. Hamilton, Esq.
         Jennifer F. Wertz, Esq.
         JACKSON WALKER L.L.P.
         901 Main Street, Suite 6000
         Dallas, TX 75202
         Tel: (214) 953-6000
         Fax: (214) 214-953-5822
         Email: srose@jw.com
                jhamilton@jw.com
                jwertz@jw.com

                       About Frac Specialists

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

The Companies are oilfield service providers serving the
exploration and production industry within the Permian Basin. 
Noble Natural Resources, LLC, Javier Urias and Alex Hinojos
collectively own 100% of the membership interests in the
Companies.

The Debtors tapped Lynda L. Lankford, Esq., and Jeff P. Prostok,
Esq., at Forshey & Prostok, LLP, as their counsel.  Judge Michael
Lynn presides over the cases.

The U.S. trustee appointed five creditors to serve on an official
committee of unsecured creditors.


GONZALO SALDANA: Amended Homestead Exemption Partly Allowed
-----------------------------------------------------------
Bankruptcy Judge Stacey G. C. Jernigan partly allowed the debtor's
amended homestead exemption but imposed sanctions on the debtor and
his counsel in the case captioned In Re: GONZALO SALDANA, Debtor,
13-34861-SGJ-7 (Bankr. N.D. Tex., Dallas Div.).

More than three months after receiving objections to his homestead
exemption from the Chapter 7 Trustee and his former spouse, debtor
Gonzalo Saldana announced that he would exercise his right to amend
his exemptions, and would claim: (a) two different parcels of real
property in Freestone County, Texas that he had been both residing
on and using for business purposes as his exempt homestead (the
"Business Properties - 60 Acres"), along with (b) one of the four
parcels that he had originally claimed as part of his exempt
homestead ("Parcel 4 of the French Properties").

Judge Jernigan sustained in part and overruled in part the
objections to the amended homestead exemption.  She allowed on the
merits Saldana's amended homestead exemption as to the "Business
Properties - 60 Acres" but disallowed on the merits the homestead
exemption as to the non-contiguous "Parcel 4 of the French
Properties."

However, pursuant to the court's inherent power to sanction, under
section 105(a) of the Bankruptcy Code, the Judge Jernigan further
ordered that Saldana and his counsel reimburse: (a) the Trustee and
his counsel for $25,245 in total fees, and (b) his former wife,
Estela and her counsel for $5,109.50 in total fees.  These were
determined by the court to have been incurred as a result of
Saldana's bad faith actions in abruptly amending his homestead
exemption only after the Trustee, Estela, and the court had
experienced significant resources in preparing for a contested
hearing that should have never gone forward.

A copy of the May 22, 2015 memorandum opinion and order is
available at http://is.gd/ufYtclfrom Leagle.com.

                      About Gonzalo Saldana

Gonzalo Saldana filed a voluntary Chapter 11 petition (Bankr. N.D.
Tex. Case No. 13-34861-SGJ-7) on September 23, 2013.  At the same
time, his two businesses, Mexia Nursery & Tree Farm, Inc. and Mexia
Tire Company, LLC also each filed voluntary petitions for relief
under Chapter 11.  After several months of attempting to
reorganize, Saldana and his businesses are now in Chapter 7
liquidation cases.  John H. Litzler was appointed as the Chapter 7
Trustee of the Saldana's bankruptcy case and continues to serve in
that capacity.  The two business entities each have their own
separate Chapter 7 trustees.


GT ADVANCED: Inks Merlin(TM) Exclusivity Deal with Waare Energies
-----------------------------------------------------------------
GT Advanced Technologies Inc. and its affiliated debtors seek
authority from the U.S. Bankruptcy Court for the District of New
Hampshire to to enter into a conditional exclusivity agreement with
Waaree Energies Limited.

Pursuant to the Agreement, Waaree will purchase certain tools from
GT Corp and purchase Merlin(TM) grids in order to produce certain
modules that it intends to sell within India.

The relevant provisions of the Agreement are as follows:

   (a) As a pass-through sale, GT Corp who will purchase one attach
tool and one peel tool from a third-party vendor and sell the Tools
to Waaree at a price that equals the cost to GT Corp;

   (b) Subject to completing the Tools Purchase, GT Corp will
supply Merlin(TM) grids to Waaree at prices no less favorable than
those offered to GT Corp's other customers;

   (c) GT Corp will provide certain support services to Waaree in
order for Waaree to achieve its performance targets;

   (d) Provided that Waaree achieves a minimum run rate of 1 GW per
year by December 31, 2018, and complies with the other terms in the
Agreement, GT Corp will grant to Waaree exclusive rights to
manufacture, market and sell modules incorporating Merlin(TM) grid
technology including any improvements thereto within India for a
period of ten years from the effective date of the Agreement;

   (e) Until the time as GT Corp emerges from Bankruptcy, GT Corp
will grant to Waaree a non-exclusive, non-transferable,
royalty-bearing license under GT Corp intellectual property and
technology to (a) make Merlin(TM) grids to be utilized by Waaree
only in the production of Advanced Technology Merlin(TM) Modules to
be sold in India; and (b) procure the tools necessary to
manufacture Advanced Technology Merlin(TM) Modules from GT's
vendors; provided that the Contingent License will not be exercised
by Waaree unless GT Corp is unable to fulfill orders for Merlin(TM)
grids for Waaree for reasons state din the Agreement.  The
nonexclusive license will include a royalty to be paid by Waaree to
GT Corp in an amount equal to 5% of gross sales of Advanced
Technology Merlin(TM) Modules.  The Contingent License will
automatically terminate at the time that GT emerges from these
Chapter 11 cases.

The Debtors explained that entering into the Agreement is a vital
step in their business strategy to commercialize the Merlin(TM)
technology and, as such, it is a vital step in their overall
reorganization process.  The Debtors believe that entering into the
Agreement will enhance the value of the estates and benefit their
creditors because it will create an additional revenue stream going
forward, thus, augmenting the ability of the Debtors to propose and
confirm a plan.

The Debtors are represented by:

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

            -- and --

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

                   About GT Advanced

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

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

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

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

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

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

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

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

The bankruptcy case is assigned to Judge Henry J. Boroff.


HERCULES OFFSHORE: S&P Lowers Corporate Credit Rating to 'CC'
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Houston-based offshore driller Hercules Offshore Inc. to
'CC' from 'CCC+', and its issue-level rating on the company's
senior unsecured notes to 'CC' from 'CCC+'.  At the same time, S&P
placed the ratings on CreditWatch with negative implications.  The
'4' recovery rating on the senior unsecured notes is unchanged,
reflecting S&P's expectation of average (lower end of the 30% to
50% range) recovery for lenders in the event of a payment default.

The downgrade follows HERO's announcement that it has entered into
a restructuring support agreement with a steering group of the
company's senior noteholders, collectively owning or controlling in
excess of 67% of the aggregate outstanding principal amount of the
company's 10.25% senior notes due 2019, 8.75% senior notes due
2021, 7.5% senior notes due 2021, and 6.75% senior notes due 2022.
Pursuant to the agreement, the noteholders have agreed to support a
deleveraging transaction pursuant to which approximately $1.2
billion of the company's outstanding notes will be converted to new
common equity, and backstop $450 million of new debt financing,
which will fund the remaining construction cost of the Hercules
Highlander and provide additional liquidity.  Under the agreement,
the company and the noteholders will seek to implement this balance
sheet restructuring through either a Chapter 11 case or prepackaged
plan of reorganization.

S&P will re-evaluate the company's corporate credit rating upon
implementation of the restructuring or filing Chapter 11 of the
U.S. Bankruptcy Code.

The CreditWatch placement reflects the possibility that S&P will
lower ratings further on the implementation of a prepackaged plan
of reorganization or commencement of a Chapter 11 proceeding, and
we expect bondholders to receive less than what they were
originally promised on the securities.  S&P expects this to be
resolved early in the third quarter of 2015.

Subsequently, S&P will re-evaluate HERO's corporate credit rating
and proposed $450 million notes issue-level rating under its new
capital structure.



HOLOGIC INC: S&P Rates New $1BB Unsecured Notes 'BB'
-----------------------------------------------------
Standard & Poor's Ratings Services said that it assigned a 'BB'
issue-level rating and '3' recovery rating to Bedford, Mass.-based
medical device manufacturer Hologic Inc.'s new $1 billion unsecured
notes that mature in 2022.  The notes will replace the company's
existing $1 billion notes that mature in 2020.  The recovery rating
on the new notes is capped at a '3', reflecting S&P's expectation
for meaningful (50% to 70%; at the high end of the range) recovery
in the event of default.

S&P's 'BB' corporate credit rating on Hologic is unaffected by this
leverage-neutral refinancing, and reflects S&P's assessments of a
"fair" business risk profile and a "significant" financial risk
profile.  The business risk assessment reflects the company's
moderate product and geographic diversity and solid profitability.
The financial risk assessment reflects S&P's expectation for debt
leverage of 3.7x by 2015.

RATINGS LIST

Hologic Inc.
Corporate Credit Rating             BB/Stable/--

New Rating

Hologic Inc.
$1 Bil. Unsecured Notes Due 2022    BB
   Recovery Rating                   3H



INTERFACE SECURITY: Obtains Waiver on Credit Facility Default
-------------------------------------------------------------
Interface Security Systems Holdings, Inc., filed its quarterly
report on Form 10-Q, disclosing a net loss of $16.8 million on
$32.9 million of revenues for the three months ended March 31,
2015, compared with net income of $27.7 million on $28.7 million of
revenues for the same period last year.

The Company's balance sheet at Mar. 31, 2015, showed $147 million
in total assets, $312.58 million in total liabilities, and a
stockholders' deficit of $328.98 million.

In March 2015, the Company received a waiver of any default under
the $45.0 million revolving credit facility resulting from the
going concern emphasis in the audit report for the year ended Dec.
31, 2014.

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

                         http://is.gd/dDTzfN

Interface Security Systems Holdings, Inc., through its subsidiary
Interface Security Systems, LLC, provides electronic-security
services.  The company provides intrusion alarms, fire/life safety
and evacuation systems, fire sprinkler monitoring, access control,
camera surveillance, integrated systems, remote video solutions,
GPS tracking, music and home theater, electronics networks, U.L.
certification, testing and maintenance services.  The company
serves commercial and residential customers in Illinois, Indiana,
Missouri, Arkansas, Tennessee, Louisiana, Mississippi and Texas,
and California.  Interface Security Systems Holdings, Inc. is
based in Earth City, Missouri.



JAZZ SECURITIES: S&P Assigns 'BB+' Rating on New $1.5BB Facilities
------------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB+' issue-level
rating to Jazz Securities Ltd.'s new $1.5 billion senior secured
credit facilities.  The new credit facilities will be guaranteed by
Jazz Pharmaceuticals PLC, and certain of its wholly owned
subsidiaries.

The recovery rating on the new credit facilities is '2', reflecting
S&P's expectation for substantial (in the upper half of the 70% to
90% band) recovery in the event of default.  The company will use
the new credit facilities to repay the existing credit facilities
and to provide for general corporate purposes including potential
business development activities.

S&P is withdrawing its issue-level rating on Jazz Pharmaceuticals
Inc.'s existing credit facilities because they are being repaid.

The corporate credit rating on Jazz Pharmaceuticals PLC is 'BB' and
the outlook is stable.

RATINGS LIST

Jazz Pharmaceuticals PLC
Corporate Credit Rating           BB/Stable/--

New Rating

Jazz Securities Ltd.
$1.5 Bil. Senior Secured
  Credit Facilities*               BB+
   Recovery Rating                 2H

*Guaranteed by Jazz Pharmaceuticals PLC

Ratings Withdrawn
                                    To            From
Jazz Pharmaceuticals Inc.
Senior Secured
  Credit Facilities                 NR            BB+
   Recovery Rating                  NR            2L



JEFFERY DAVID VOGT: Summary Judgment Order Reversed
---------------------------------------------------
District Judge James S. Moody, Jr. reversed the bankruptcy court's
Order Granting Amended Motion for Partial Summary Judgment and
Denying Cross-Motion for Summary Judgment and Memorandum Opinion
and Order Denying Motion for Reconsideration of Summary Judgment in
the case captioned CABUYA CHEROKEE, SA, CABUYA DELAWARE, SA, CABUYA
FLORIDA, SA, CABUYA SOLUE, SA, CABUYA SPRUCE, SA, CABUYA SUWANEE,
SA, CIRCUITO INICIAL CUATRO HAS, SA, DULCE VERDE TROPICAL DEL
PACIFICO, SA, EL AREA FINAL, SA, FRENTE VERDE, SA, INMOBILIARIA
CEROS Y UNOS, SA, INVERSIONES FONDO AZUL DEL PACIFICO, SA, PLAYA
COCOS DE MONTEZUMA, SA, PLAZA ARENA SOL, SA, TERRENO JOTA ZETA, SA,
VISTA CABUYA JG, SA, VO Y ZETA TERRENOS, SA, VESPER BELL, LIMITADA,
JERRY SARBO, AMERICAN TRANSWORLD CORPORATION and BETH BASHAM,
Appellants, v. JEFFREY DAVID VOGT, JEANETTE MELANIE VOGT, CHED
EDWARD VOGT and SUSAN K. WOODARD, Appellees, CASE NO.
8:13-CV-2942-T-30 (M.D. Fla., Tampa Div.)

The Summary Judgment Order was entered in an adversary proceeding
filed by the Appellants, seeking a declaratory judgment that a
settlement agreement executed in 2009 between the debtor Jeffery
David Vogt, his brother, and American Transworld Corporation
("ATWC") in an earlier Chapter 11 case was enforceable.

The bankruptcy court concluded that the settlement agreement was
unenforceable because the creditors were not given "notice of the
compromise and an opportunity to object to it," thereby denying the
creditors due process.

Judge Moody, however, reversed the bankruptcy court's decision.
Based on the records, he found that in the Chapter 11 case, the
settlement agreement was referenced and discussed at multiple
hearings, in multiple motions, and in the bankruptcy court's own
enforcement orders issued prior to the entry of the Confirmation
Order.  The creditors in the Chapter 11 case received notice of all
of these events.  Thus they had actual notice of the settlement
agreement that was sufficient to apprise them of the pendency of
the settlement agreement and afford them an opportunity to present
an objection.

A copy of the May 26, 2015 order is available at
http://is.gd/Sw0VJwfrom Leagle.com.

Cabuya Cherokee, SA, Cabuya Delaware, SA, Cabuya Florida, SA,
Cabuya Solue, SA, Cabuya Spruce, SA, Cabuya Suwanee, SA, Circuito
Inicial Cuatro Has, SA, Dulce Verde Tropical del Pacifico, SA, El
Area Final, SA, Frente Verde, SA, Inmobiliaria Ceros y Unos, SA,
Inversiones Fondo Azul del Pacifico, SA, Playa Cocos de Montezuma,
SA, Plaza Arena Sol, SA, Terreno Jota Zeta, SA, Vista Cabuya JG,
SA, Vo y Zeta Terrenos, SA, Vesper Bell, Limitada, Jerry Sarbo, and
American Transworld Corporation, Appellants, Beth Basham, 3rd Party
Defendant, Appellant, represented by Michael C. Markham --
mikem@jpfirm.com -- Johnson, Pope, Bokor, Ruppel & Burns, LLP.

Jeffrey David Vogt, Jeanette Melanie Vogt, and Ched Edward Vogt,
Appellee, represented by Jason H. Baruch, Trenam Kemker & Paul B.
Thanasides -- paul@mcintyrefirm.com -- McIntyre, Panzarella,
Thanasides, Bringgold & Todd, PA.

Susan K. Woodard, Appellee, represented by Jason H. Baruch, Trenam
Kemker, Paul B. Thanasides, McIntyre, Panzarella, Thanasides,
Bringgold & Todd, PA & Jennifer Erin Jone --
jennifer@mcintyrefirm.com -- McIntyre Thanasides Bringgold Elliott
Grimaldi & Guito, PA.

                     About Jeffery David Vogt

Jeffery David Vogt filed for Chapter 11 bankruptcy on February 27,
2009 when he was presumably faced with an inability to repay a 2006
loan agreement and the potential loss of his interest in a variety
of Costa Rican companies.


JEVIC HOLDING: 3rd Cir. Affirms Deal & Structured Dismissal
-----------------------------------------------------------
The United States Court of Appeals, Third Circuit affirmed the
approval of a settlement in, and the structured dismissal of the
Chapter 11 bankruptcy case of Jevic Holding Corp., et al.

The case before the Third Circuit is captioned, OFFICIAL COMMITTEE
OF UNSECURED CREDITORS on behalf of the bankruptcy estates of Jevic
Holding Corp., et al., v. CIT GROUP/BUSINESS CREDIT INC., in its
capacity as Agent; SUN CAPITAL PARTNERS, INC.; SUN CAPITAL PARTNERS
IV, LP; SUN CAPITAL PARTNERS MANAGEMENT IV, LLC CASIMIR CZYZEWSKI;
MELVIN L. MYERS; JEFFREY OEHLERS; ARTHUR E. PERIGARD and DANIEL C.
RICHARDS, on behalf of themselves and all others similarly
situated, Appellants, NO.
14-1465 (3d Cir.).

A group of Jevic Transportation, Inc.'s terminated truck drivers
and the United States Trustee objected to the approval of a
settlement agreement and the structured dismissal of Jevic's
Chapter 11 case, mainly because it distributed assets of the estate
to creditors of lower priority than the Drivers under Section 507
of the Bankruptcy Code in violation of the Code's "absolute
priority rule."

The Third Circuit, however, concluded that the Bankruptcy Court had
sufficient reason to approve the settlement and structured
dismissal of Jevic's Chapter 11 case.  It held that this
disposition remained the least bad alternative since there was "no
prospect" of a plan of reorganization being confirmed and
conversion to Chapter 7 would have resulted in the secured
creditors taking all that remained of the estate in "short order."
The appellate court believed that the Bankruptcy Code permits a
structured dismissal, even one that deviates from the Section 507
priorities, when a bankruptcy judge makes sound findings of fact
that the traditional routes out of Chapter 11 are unavailable and
the settlement is the best feasible way of serving the interests of
the estate and its creditors.

A copy of the May 21, 2015 opinion is available at
http://is.gd/8ARpInfrom Leagle.com.

Attorneys for Appellants:

     Jack A. Raisner, Esq.
     Rene S. Roupinian, Esq.
     OUTTEN & GOLDEN
     3 Park Avenue, 29th Floor
     New York, NY 10016
     E-mail: jar@outtengolden.com
             RSR@outtengolden.com

          - and -

     Christopher D. Loizides, Esq.
     LOIZIDES, P.A.
     1225 King Street, Suite 800
     Wilmington, DE 19801

Attorneys for Appellee Debtors:

     Domenic E. Pacitti, Esq.
     Linda Richenderfer, Esq.
     KLEHR HARRISON HARVEY BRANZBURG
     919 Market Street, Suite 1000
     Wilmington, DE 19801
     E-mail: dpacitti@klehr.com
             lrichenderfer@klehr.com

Attorneys for Appellee Official Committee of, Unsecured Creditors:

     Robert J. Feinstein, Esq.
     PACHULSKI STANG ZIEHL & JONES
     780 Third Avenue, 36th Floor
     New York, NY 10017
     E-mail: rfeinstein@pszjlaw.com

          - and -

     James E. O'Neill III, Esq.
     PACHULSKI STANG ZIEHL & JONES
     919 North Market Street, P.O. Box 8705, 17th Floor
     Wilmington, DE 19801
     E-mail: joneill@pszjlaw.com

Attorneys for Appellee Sun Capital Partners IV, LP, Sun Capital
Partners, Inc., Sun Capital Partners, Management IV, LLC:

     Christopher Landau, Esq.
     James P. Gillespie, Esq.
     Jason R. Parish, Esq.
     KIRKLAND & ELLIS
     655 15th Street, N.W., Suite 1200
     Washington, DC 20005
     E-mail: christopher.landau@kirkland.com
             james.gillespie@kirkland.com  
             jason.parish@kirkland.com

          - and -

     Danielle R. Sassoon, Esq.
     E-mail: danielle.sassoon@kirkland.com
     KIRKLAND & ELLIS
     601 Lexington Avenue
     New York, NY 10022

          - and -

     Curtis S. Miller, Esq.
     MORRIS, NICHOLS, ARSHT & TUNNELL
     1201 North Market Street, P.O. Box 1347
     Wilmington, DE 19899
     E-mail: cmiller@mnat.com

Attorneys for Appellee CIT Group Business Credit Inc.:

     Tyler P. Brown, Esq.
     Shannon E. Daily, Esq.
     HUNTON & WILLIAMS
     951 East Byrd Street, 13th Floor
     East Tower, Riverfront Plaza
     Richmond, VA 23219
     E-mail: tpbrown@hunton.com
             sdaily@hunton.com

          - and -

     Richard P. Norton, Esq.
     HUNTON & WILLIAMS
     200 Park Avenue, 52nd Floor
     New York, NY 10166
     E-mail: rnorton@hunton.com

Attorneys for Amicus Curiae:

     Ramona D. Elliott, Esq.
     P. Matthew Sutko, Esq.
     Wendy L. Cox, Esq.
     United States Department of Justice
     441 G Street, N.W., Suite 6150
     Washington, DC 20530

                    About Jevic Transportation

Based in Delanco, New Jersey, Jevic Transportation Inc. --
http://www.jevic.com/-- provided trucking services.  Two
affiliates -- Jevic Holding Corp. and Creek Road Properties -- have
no assets or operations.  Jevic et al. sought Chapter 11 protection
(Bankr. D. Del. Case No. 08-11008) on May 20, 2008.  Domenic E.
Pacitti, Esq., and Michael W. Yurkewicz, Esq., at Klehr Harrison
Harvey Branzburg & Ellers, in Wilmington, Del., represent the
Debtors.  The U.S. Trustee for Region 3 appointed five creditors to
serve on an Official Committee of Unsecured Creditors.  Robert J.
Feinstein, Esq., Bruce Grohsgal, Esq., and Maria A. Bove, Esq., at
Pachulski Stang Ziehl & Jones LLP, in Wilmington, Del., represent
the Official Committee of Unsecured Creditors.

Before filing for bankruptcy, the Debtors initiated an orderly
wind-down process.  As a part of the wind-down process, the
Debtors ceased substantially all of their business and
terminated roughly 90% of their employees.  The Debtors continue
to manage the wind-down process in an attempt to deliver all
freight in their system and to retrieve their assets.

When the Debtors sought protection from their creditors, they
estimated assets and debts between $50 million and $100 million.
At Oct. 31, 2010, the Debtor had total assets of $425,000, total
liabilities of $12.2 million, and a stockholders' deficit of
$11.8 million.  The Debtor ended the period with $362,000 in cash,
which includes restricted cash of $67,000.


LANDAMERICA FINANCIAL: Pa. Court Partially Junks "Germinaro" Suit
-----------------------------------------------------------------
Judge Nora Barry Fischer of the United States District Court for
the Western District of Pennsylvania, in a memorandum opinion dated
May 27, 2015, granted in part and denied in part defendants
Fidelity National Title Insurance Company and Commonwealth Land
Title Insurance Company's motion for judgment on the pleadings in
the case captioned JOSEPH J. GERMINARO, an individual, and
GABRIELLA P. GERMINARO, an individual, Plaintiffs, v. FIDELITY
NATIONAL TITLE INSURANCE COMPANY, and COMMONWEALTH LAND TITLE
INSURANCE COMPANY, Defendants, Civil Action No. 14-1202 (W.D. PA).

Plaintiffs Joseph and Gabriella Germinaro filed a complaint in the
Los Angeles Superior against Lawyers Title Insurance Company,
Lawyers Title Insurance Corporation, Commonwealth Land Title
Insurance Corporation, and Does 1 through 100 on February 6, 2014.
The Plaintiffs amended their complaint and, thereafter, the matter
was removed to the United States District Court for the Central
District of California.

On May 14, 2014, the Plaintiffs filed their second amended
complaint.  They dropped the Doe defendants.  The second amended
complaint asserts claims against the named Defendants for:  (1)
aiding and abetting fraud; (2) fraud; (3) violation of the
Racketeer Influenced and Corrupt Organizations Act; (4) breach of
fiduciary duty; (5) aiding and abetting breach of fiduciary duty;
(6) conversion of trust funds; (7) aiding and abetting conversion
of trust funds; (8) intentional interference with a contract; (9)
breach of the implied covenant of good faith and fair dealing; (10)
breach of contract; and (11) negligence.  The causes of action
arise from the Plaintiffs' attempt to effectuate a tax-deferred
land exchange.  In that, the Plaintiffs entrusted approximately
$831,187 to LandAmerica 1031 Exchange Services, Inc., an entity
which filed for bankruptcy relief less than a week after the money
in question was transferred.

The Plaintiffs allege that LTIC, CLTIC, and LES -- together with
their parent company, LandAmerica Financial Group, Inc. (LFG) --
operated a Ponzi scheme.  The Plaintiffs claim that, as part of
this scheme, Defendants LTIC and CLTIC induced the Plaintiffs to
entrust their money to LES while making misrepresentations about
and/or fraudulently concealing the fact that: (a) LES was on the
brink of insolvency; (b) Plaintiffs' funds were being commingled
with those of other LES clients; (c) Plaintiffs' funds were being
used to complete the exchanges of LES' pre-existing clients; and
(d) Plaintiffs were at substantial risk of losing their funds by
placing them with LES.  The Defendants' filed their motion for
judgment on the pleadings.

In her Memorandum Opinion, Judge Fischer denied Defendants' motion
for judgment on the pleadings with respect to Count 3 of the SAC
and granted as to all other claims.  The denial of the Defendants'
motion is without prejudice to the Defendants' right to renew their
challenges to the RICO count at a later juncture, if appropriate,
with the benefit of discovery.  The Defendants' motion does not
address these allegations or the implication they may have
concerning the purported distinction between the Defendants and the
alleged "enterprise."  The Court said it is satisfied that the
Plaintiffs have pled a fraudulent scheme with sufficient
particularity.  The Plaintiffs' allegations and referenced exhibits
inject sufficient "precision" and a sufficient enough "measure of
substantiation" so as to satisfy Rule 9's heightened pleading
standard and to place the Defendants "on notice of the precise
misconduct with which they are charged," Judge Fischer ruled.

A full-text copy of the Memorandum Opinion is available at
http://is.gd/C4PpUtfrom Leagle.com.

Michael P. Denver, Esq., of Hollister & Brace serves as counsel for
Plaintiffs Joseph J. Germinaro and Gabriella P. Germinaro.

James E. Heffner, Esq. -- jheffner@hahnlaw.com -- Charles W. Pugh,
Esq. -- cpugh@hahnlaw.com -- Erica L. Calderas, Esq. --
elcalderas@hahnlaw.com -- Michael J. Gleason, Esq. --
mgleason@hahnlaw.com -- of Hahn Loeser & Parks LLP serve as counsel
for Defendants Fidelity National Title Insurance Company and
Commonwealth and Title Insurance Company.

                  About LandAmerica Financial

LandAmerica Financial Group, Inc., provided real estate
transaction services with offices nationwide and a vast network of
active agents.  LandAmerica Financial Group and its affiliate
LandAmerica 1031 Exchange Services Inc. filed for Chapter 11
protection (Bankr. E.D. Va. Lead Case No. 08-35994) on Nov. 26,
2008.  Attorneys at Willkie Farr & Gallagher LLP and McGuireWoods
LLP served as co-counsel.  Zolfo Cooper served as restructuring
advisor.  Epiq Bankruptcy Solutions served as claims and notice
agent.

Attorneys at Akin Gump Strauss Hauer & Feld LLP and Tavenner &
Beran PLC served as counsel to the Creditors Committee of 1031
Exchange.  Bingham McCutchen LLP and LeClair Ryan served as
counsel to the Creditors Committee of LFG.

In its bankruptcy petition, LFG reported total assets of
$3.325 billion and total debts of $2.839 billion as of Sept. 30,
2008.

On March 6, 2009, March 27, 2009, March 31, 2009, July 17, 2009,
Oct. 12, 2009, and Nov. 4, 2009, various LFG affiliates --
LandAmerica Assessment Corporation, LandAmerica Title Company,
Southland Title Corporation, Southland Title of Orange County,
Southland Title of San Diego, LandAmerica Credit Services, Inc.,
Capital Title Group, Inc., and LandAmerica OneStop Inc. -- also
commenced voluntary Chapter 11 cases.  The Chapter 11 cases of
LFG, LES, and the LFG Affiliates are jointly administered under
case number 08-35994.

LandAmerica filed a Joint Plan of Liquidation on Sept. 9, 2009.
The Court on Nov. 23, 2009, entered an order confirming the Joint
Chapter 11 Plan of LFG and its Affiliated Debtors, dated Nov. 16,
2009, as to all Debtors other than OneStop.  The effective date
with respect to the Plan was Dec. 7, 2009.  Plan trustees were
appointed for LFG and LES.


LIFE PARTNERS: U.S. Trustee Forms Two More Committee Members
------------------------------------------------------------
The U.S. Trustee for Region 6 appointed Marc Redus and Robert
Trimble to serve on Life Partners Holdings Inc.'s official
committee of unsecured creditors.  

The unsecured creditors' committee is now composed of:

     (1) Bert Scalzo
         2917 Elmridge Drive
         Flower Mound, Texas 75022
         Phone: 469-693-3300

     (2) Glenda Pirie
         128 PR 4831
         Newark, Texas 76071
         Phone: 817-489-2334

     (3) Adriana Atchley
         235 Zachary Walk
         Murphy, Texas 75094
         Phone: 972-423-7146

     (4) Marc Redus
         6741 Prestonshire
         Dallas, Texas 75225
         Phone: 972-322-8021

     (5) Robert Trimble
         8333 Douglas Ave., Ste 1350
         Dallas, Texas 75225
         Phone: 214-855-2960

                       About Life Partners

Life Partners Holdings, Inc. is the parent company of the world's
oldest company engaged in the secondary market for life insurance,
commonly called "life settlements."  Since its incorporation in
1991, Life Partners, Inc. has completed over 162,000 transactions
for its worldwide client base of over 30,000 high net worth
individuals and institutions in connection with the purchase of
over 6,500 policies totaling over $3.2 billion in face value.

Waco, Texas-based Life Partners Holdings -- http://www.lphi.com/--
is a financial services company engaged in the secondary market for
life insurance known as life settlements.

Life Partners Holdings sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 15-40289) on Jan. 20,
2015.  The case is assigned to Judge Russell F. Nelms.

J. Robert Forshey, Esq., at Forshey & Prostok, LLP, serves as
counsel to the Debtor.  The official committee of unsecured
creditors formed in the case tapped Munsch Hardt Kopf & Harr, P.C.,
as counsel.

Tracy A. Bolt of BDO USA, LLP, was named as examiner for the
Debtor's case.

At the behest of the U.S. Securities and Exchange Commission, the
U.S. Trustee, and the Creditors Committee, the Court ordered the
appointment of a Chapter 11 trustee.  On March 13, 2015, H. Thomas
Moran II was appointed as Chapter 11 trustee in LPHI's case.

The Chapter 11 Trustee signed Chapter 11 bankruptcy petitions for
LPHI's subsidiaries on May 19, 2015: Life Partners Inc. (Case No.
15-41995) and LPI Financial Services, Inc. (Case No. 15-41996).
Life Partners is estimated to have $100 million to $500 million in
assets and more than $1 billion in debt.  LPI Financial estimated
less than $50,000

The Trustee is represented by:

         THOMPSON & KNIGHT LLP
         David M. Bennett, Esq.
         Richard B. Roper, Esq.
         Katharine Battaia Clark, Esq.
         1722 Routh Street, Suite 1500
         Dallas, TX 75201
         Telephone: 214-969-1700
         Facsimile: 214-969-1751


LOCAL CORP: Incurs $4.58-Mil. Net Loss in First Quarter
-------------------------------------------------------
Local Corporation filed its quarterly report on Form 10-Q,
disclosing a net loss of $4.58 million on $13.1 million of revenues
for the three months ended March 31, 2015, compared with a net loss
of $2.83 million on $26.2 million of revenues for the same period
in 2014.

The Company's balance sheet at March 31, 2015, showed $36.8 million
in total assets, $25.7 million in total liabilities, and
stockholders' equity of $11.2 million.

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

                        http://is.gd/zfFAgy

                     About Local Corporation

Local Corporation helps consumers search and find local businesses,
products and services online through Local.com and its other
websites.  The Irvine California-based Company generates revenue
from ad units placed alongside its search results, which include
pay-per-click, pay-per-call, and display ad units.

The Company reported a net loss of $5.50 million on $83.1 million
of revenue for the year ended Dec. 31, 2014, compared with a net
loss of $10.4 million on $94.4 million of revenue in the prior
year.

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

The Company's balance sheet at Dec. 31, 2014, showed $38.1 million
in total assets, $22.5 million in total liabilities, and total
stockholders' equity of $15.6 million.



MARIO FAJARDO: Bankr. Stay Extended to Florida Flexible
-------------------------------------------------------
District Judge Marcia G. Cooke granted Florida Flexible Printing
Products, Inc.'s Motion to Extend Automatic Stay to Florida
Flexible Printing Products, Inc., a defendant in the case captioned
POLYONE CORPORATION, an Ohio Corporation, Plaintiff, v. FLORIDA
FLEXIBLE PRINTING PRODUCTS, INC., MARIO FAJARDO, and DAYLIN
FAJARDO, Defendants, CASE NO. 14-24813-CIV-COOKE/TORRES (S.D.
Fla.).

A suit was filed by PolyOne against Mario and Daylin Fajardo for
breach of a promissory note and settlement agreement, and against
Florida Flexible for fraudulent transfer of assets.  PolyOne
alleged that Florida Flexible is the successor-in-interest to
Florida Flex Ink Distributors, Inc. ("FFID") and was currently
owned, operated, and managed by the Fajardos.

On April 8, 2015, the Fajardos filed their Suggestion of
Bankruptcy. On April 10, 2015, Judge Cooke entered an Order Staying
Case as to the Fajardos.

On motion, Judge Cooke extended the stay as to the non-debtor
defendant, Florida Flexible, for the reason that the present
dispute essentially stems from a prior dispute between PolyOne and
the Fajardos, and includes assets allegedly fraudulently
transferred by the Fajardos into their alleged new corporation,
Florida Flexible.

A copy of the May 21, 2015 order is available at
http://is.gd/puWvb0from Leagle.com.

Polyone Corporation, a Delaware Corporation, Plaintiff, represented
by Robert Houpt Thornburg -- rthornburg@addmg.com -- Allen, Dyer,
Doppelt, Milbrath & Gilchrist P.A.

Florida Flexible Printing Products, Inc., a Florida Corporation,
Defendant, represented by Charles Michael Baron, Charles M. Baron,
P.A..

Mario Fajardo, an individual, Defendant, represented by Stuart
Allen Lipson.

Daylin Fajardo, an individual, Defendant, represented by Stuart
Allen Lipson.


MARK LEE RINDLESBACH: Bids to Dismiss Settlement Appeal Granted
---------------------------------------------------------------
Judge Clark Waddoups of the United States District Court for the
District of Utah, Central Division, granted the motion to dismiss
filed by Philip G. Jones, Chapter 7 Trustee for the bankruptcy
estate of Mark Lee Rindlesbach; and The Ruth B. Hardy Revocable
Trust, Delcon Corporation Profit Sharing Plan fbo A. Wesley Hardy,
Finesse P.S.P., MJS Real Properties, LLC, Uintah Investments, LLC,
David D. Smith, Steven Condie, David L. Johnson, Berrett PSP, VW
Professional Homes PSP, Ty Thomas, and D.R.P. Management PSP, the
appeals case captioned MARK LEE RINDLESBACH, et al., Appellants, v.
PHILIP G. JONES, et al., Appellees, Case No. 2:14-CV-00577, (D.
UT).

The appeal arises out of Mr. Rindlesbach's bankruptcy and Mr.
Jones', as bankruptcy trustee, settlement of the Hardy Lenders'
claims.  On May 25, 2007, the Hardy Lenders made a loan of $3.3
million to Eagle Mountain Lots, LLC, for the acquisition of land in
Eagle Mountain, Utah.  The Debtor, as trustee for the Rindlesbach
Construction Inc. Profit Sharing Plan, was one of the guarantors
for the loan.  When Eagle Mountain Lots defaulted, the Hardy
Lenders filed suit against the guarantors in July 2008, and after
amending the complaint, against the Debtor in his personal
capacity.  Prior to and during the pendency of the suit, the Debtor
transferred various parcels of real property from his ownership, as
well as from various entities where the Debtor was a partial owner.
The state trial court granted summary judgment in favor of the
Debtor, finding that he was not personally liable on the guaranty.
The Hardy Lenders have appealed that decision, which is now pending
in the Utah Court of Appeals.  A jury rendered a verdict in favor
of the Hardy Lenders for their claim against the Plan, and on
December 3, 2012, the state court entered a judgment in the amount
of $6,367,203.  In the absence of a stay, the bankruptcy court
approved the Trustee's Final Report on March 10, 2015, and the
Trustee made final distribution of the assets to the allowed claims
and as provided in the settlement agreement.

The Trustee moved the District Court to dismiss the appeal on the
grounds of constitutional and equitable mootness.  The Hardy
Lenders also moved to dismiss on the additional grounds that the
appellants lack standing; that the claims concerning the Assignment
Provision are not ripe; and that the appeal is statutorily,
constitutionally, and equitably moot.

Judge Waddoups granted the motions to dismiss after finding that
the appeal is not justiciable.  Judge Waddoups ruled that the
Appellant's failure to object, and thus preserve their arguments,
prevents them from appealing the correctness of the decision.  The
post-discharge judgment in the Guaranty Action appears to be
necessary to prosecute third party fraudulent transfers, and will
not compromise the Debtor's discharge, Judge Waddoups further
ruled.  With regards to the Assignment Provision, the Tenth Circuit
has not directly spoken on the question of whether a creditor may
derivatively prosecute estate causes of action, Judge Waddoups
pointed out.

The court recognizes that no party made a request for the
bankruptcy court to make a specific finding of good faith.
Accordingly, even were the appeal not constitutionally or equitably
moot, the appropriate remedy would be a remand to the bankruptcy
court for specific findings with regards to the Hardy Lenders' good
faith, Judge Waddoups said.

A full-text copy of Judge Waddoups's Memorandum Decision and Order
dated May 28, 2015, is available at http://is.gd/TlG3F4from
Leagle.com.

Paul James Toscano, Esq., of Paul Toscano PC; James K. Tracy, Esq.
-- jtracy@btjd.com -- Peter W. Guyon, Esq., and Stacy J. McNeill,
Esq. -- smcneill@btjd.com -- of Bennett Tueller Johnson & Deere PC
serve as counsel for Appellant Mark L. Rindlesbach.

Benjamin J. Kotter, Esq. -- bjk@pkhlawyers.com -- George B.
Hofmann, IV, Esq. -- gbh@pkhlawyers.com -- and Steven C. Strong,
Esq. -- sstrong@cohnekinghorn.com -- of Cohne Kinghorn PC serve as
counsel for Appellee Philip G. Jones


MARYMOUNT UNIVERSITY: S&P Assigns 'BB+' Rating on $65.77MM Bonds
----------------------------------------------------------------
Standard & Poor's Rating Services assigned its 'BB+' long-term
rating to the Virginia College Building Authority's $65.77 million
series 2015B educational facilities revenue bonds issued for
Marymount University (MU).  The outlook is stable.

In addition, Standard & Poor's affirmed its 'BB+' rating on the
authority's $65.01 million series 2015A revenue and refunding
bonds, also issued for MU.

"The rating reflects MU's significantly increased debt leverage as
it more than doubles its outstanding debt from $60.6 million
outstanding at fiscal year end June 30, 2014, to slightly over $153
million with the current issuance and an $18 million bank loan to a
special purpose entity whose sole member is MU that is expected to
close shortly," said Standard & Poor's credit analyst Ken Rodgers.
"Also, MU's debt burden, in our view, becomes fairly high rising to
10.7% post debt issuance from 6.4% at fiscal year-end 2014."  MU is
using money from both debt obligations to fund construction of a
$75 million new academic building at the university's Ballston
Center campus.

"The rating also reflects the effect the current debt issues have
on MU's financial resource ratios with its expendable resources to
pro forma debt dropping to a low 25.1% from the 63.6% historical
ratio at fiscal year-end June 30, 2014," added Mr. Rodgers.  Also,
reflected in the rating is S&P's view that MU's enrollment is under
some pressure having declined in each of the past two fall
enrollment periods and some uncertainty exists about whether fall
2015 enrollment will stabilize as management indicated
undergraduate enrollment is expected to improve slightly but
graduate enrollment may be down.  The rating remains at the high
end of the speculative grade ratings spectrum reflecting MU's good
financial operating performance on a full-accrual basis and a $37.8
million endowment as of fiscal year end 2014 reflecting a
successful six-year fundraising campaign that concluded in 2011 and
raised $22.4 million with the university currently in the silent
phase of its next campaign.

The stable outlook reflects S&P's view that Marymount University
has some flexibility at the assigned rating, in terms of its
student demand and financial performance, to enable it to undertake
the Ballston Center campus project with its inherent risks and
altering university financial profile.  An anticipated improved
student demand trend, a demonstrated track record of solid
operating performance, and weak though adequate financial resources
for the rating lead S&P to conclude the present rating could be
maintained for the next two years absent any significant problems
associated with the project.

Credit factors that could result in a negative action include
unanticipated management instability, a decline in enrollment or
operating performance, further decreases in financial resource
ratios, additional debt without a commensurate growth in resources
or any indication that the project is not on time or within budget.


A positive rating action over the next two years is unlikely, given
what S&P views as limited balance-sheet flexibility for the rating.
However, a higher rating could be considered if enrollment
strengthens considerably, financial results remain positive and
financial resources improve significantly so as to mitigate some of
the risk associated with the high debt burden and project risk.

Marymount University is a private, nonprofit coeducational
institution of higher education.  Founded in 1950 as a two-year
women's college by the Religious of the Sacred Heart of Mary, it
has subsequently grown to become a comprehensive, coeducational
university serving approximately 3,400 undergraduate and graduate
students.  The student base is regional, with nearly 75% of the
total student population coming from Virginia, D.C., and Maryland.
Marymount's main campus, in Arlington, is approximately six miles
from D.C. and it has two other, satellite, campuses at Ballston and
Reston.



MIDWAY GOLD: Proposes Midway US as Foreign Representative
---------------------------------------------------------
Midway Gold US Inc. and the affiliated debtors ask the U.S.
Bankruptcy Court for the District of Colorado to authorize Midway
US to act as the "foreign representative" of the Debtors' estates
in Canadian proceedings involving certain of the Debtors.

Three of the Debtors, Midway Gold Corporation, GEH (BC) Holding
Inc. and MDW Mine ULC -- Canadian Debtors -- are incorporated in
British Colombia, Canada.  Section 109(a) of the Bankruptcy Code
sets forth the basic requirements for a "person" to commence a case
under the Bankruptcy Code and provides as follows: "Notwithstanding
any other provision of this section, only a person that resides or
has a domicile, a place of business, or property in the United
States, or a municipality, may be a debtor under this title."

Each of the Canadian Debtors owns property in the United States and
maintains a place of business in the United States.  First, each of
the Canadian Debtors has sent retainers to their United States
counsel, which retainer is kept on behalf of each of the Debtors,
including the Canadian Debtors, by the Debtors' two United States
counsel. Second, the Canadian Debtors have their principal "place
of business" in the United States because, among other things, (i)
the Debtors are U.S.-based gold producers and all the Debtors'
mineral properties are located in Nevada and Washington, (ii) the
Debtors' corporate group is an integrated group with the nerve
center of all operations in the state of Colorado, where the
Debtors' executive management and headquarters is located, and in
the state of Nevada, where most of the Debtors' mineral properties
are located, (iii) the seat of the enterprise's management
functions is in the state of Colorado, where all corporate and
strategic decisions are made, and (iv) all of the Debtors'
employees are located in the United States.

The Debtors also have certain assets and operations in Canada.  For
example, common stock of Midway Gold Corp. trades publicly on the
Toronto Stock Exchange.  In connection with the commencement of
these chapter 11 cases, each of the Canadian Debtors has filed a
chapter 11 petition with the Court.  In addition, Midway US, as the
proposed Foreign Representative, intends to seek ancillary relief
in Canada on behalf of all Debtors, pursuant to the Companies'
Creditors Arrangement Act (Canada) R.S.C. 1985, c. C-36 as amended
(the "CCAA") in the Supreme Court of British Columbia (the
"Canadian Court") in Vancouver, British Columbia, Canada.  The
purpose of the ancillary proceedings will be to request that the
Canadian Court recognize the chapter 11 cases as a "foreign main
proceeding" under the applicable provisions of the CCAA -- Canadian
Proceedings -- in order to, among other things, protect the
Debtors' assets and operations in Canada.

Section 46 of the CCAA provides:

    1) Application for recognition of a foreign proceeding.  A
foreign representative may apply to the court for recognition of
the foreign proceeding in respect of which he or she is a foreign
representative.

    2) Documents that must accompany application. . . . the
application must be accompanied by. . . (b) a certified copy of the
instrument, however designated, authorizing the foreign
representative to act in that capacity or a certificate from the
foreign court affirming the foreign representative's authority to
act in that capacity. . .

Stephen D. Lerner, Esq., at Squire Patton Boggs (US) LLP, avers
that Authorizing Midway US to act as Foreign Representative on
behalf of the Debtors' estates in the Canadian Proceedings will
allow coordination of these Chapter 11 cases and the Canadian
Proceedings, and provide an effective mechanism to protect and
maximize the value of the Debtors' assets on both sides of the
border.

                         About Midway Gold

Midway Gold Corp., incorporated on May 14, 1996 under the laws of
the Province of British Columbia, Canada, is engaged in the
acquisition, exploration and development of mineral properties
located in the state of Nevada and Washington.  Midway Gold's stock
traded on the NYSE MKT and the Toronto Stock Exchange under the
symbol "MDW."

Midway Gold operates primarily through its wholly-owned subsidiary
located in the United States, Midway Gold US Inc.  The executive
offices are in Englewood, Colorado.  Midway US currently has one
gold producing property: the Pan gold mine located in White Pine
County, Nevada.  Midway also has gold properties which are
exploratory stage projects where gold mineralization has been
identified, such as the Tonopah project in Nye County, Nevada, the
Gold Rock project in White Pine County, Nevada, and the Golden
Eagle project in Ferry County, Washington.  Out of these projects,
a permitting process has been undertaken only for the Gold Rock
project.  Finally, Midway's Spring Valley property, another gold
property located in Pershing County, Nevada, is subject to a joint
venture with Barrick Gold Exploration Inc.

On June 22, 2015, Midway Gold US Inc. and 12 related entities,
including parent Midway Gold Corp. each filed a petition in the
U.S. Bankruptcy Court for the District of Colorado seeking relief
under Chapter 11 of the U.S. Bankruptcy Code.  The Debtors' cases
have been assigned to Judge Michael E. Romero.  The Debtors sought
to have their cases jointly administered for procedural purposes;
all pleadings will be maintained on the case docket for Midway Gold
US Inc., Case No. 15-16835.

The Debtors tapped Squire Patton Boggs (US) LLP as bankruptcy
counsel; Sender Wasserman Wadsworth, P.C., as special bankruptcy
and restructuring counsel; DLA Piper (Canada) LLP, as Canadian
bankruptcy counsel; Ernst & Young Inc., as information officer of
Canadian court; RBC Capital Markets, as investment banker; FTI
Consulting as financial advisor; and Epiq Solutions, as claims and
noticing agent.

Midway Gold disclosed $184 million in assets and $62.4 million in
liabilities as of March 31, 2015.


MIDWAY GOLD: Proposes to Use Cash Collateral
--------------------------------------------
Midway Gold US Inc. and the affiliated debtors ask the U.S.
Bankruptcy Court for the District of Colorado to enter interim and
final orders authorizing the use of cash collateral.  The Debtors
said they have the consent from secured lenders to use cash
collateral.

Stephen D. Lerner, Esq., at Squire Patton Boggs (US) LLP, explains
that as with any large chapter 11 cases, the use of cash collateral
is essential to the Debtors' ability to continue their business
operations and to preserve and maximize the value of their assets
as they transition into Chapter 11.  The Debtors anticipate that,
with access to their cash collateral and with the support of their
secured lenders and other creditors, they will be able to utilize
the Chapter 11 cases to maximize the value of their assets.

Although most of their mining operations are in the exploration and
development phase, the Debtors accomplished their first gold pour
at the Pan gold mine on March 26, 2015 and they have commenced
limited production at the mine.  As of March 31, 2015,
approximately 3.6 million tons of ore have been stacked on a leach
pad at the mine and about 2.6 million tons are under leach.  The
Debtors' source of cash collateral and their ability to maximize
value in the Chapter 11 cases are dependent upon the continued
production at the Pan gold mine and keeping the gold mine operating
as a going concern.

In an effort to identify and evaluate all potential restructuring
alternatives, the Debtors and their investment bankers conducted a
six-week transaction process to identify possible equity and/or
asset transactions, including with respect to the Debtors' 30%
ownership interest in the Spring Valley project pursuant to their
joint venture with Barrick Gold Exploration, Inc.  That process
generated interest from prospective purchasers but did not result
in any binding offers, although some bidders expressed potential
interest in a transaction in the context of a formal restructuring
proceeding.

With the benefit of the automatic stay and access to cash
collateral, the Debtors intend to focus on remedying some of the
factors that negatively impacted the prepetition transaction
process.  Among other things, the Debtors anticipate completing an
updated mine plan for their Pan gold mine by the end of June and
plan to engage Barrick about the possibility of a consensual
process through which the entirety of the Spring Valley project,
including the Debtors' "Participating Interest" will be sold.

Without access to cash collateral at this critical point in their
cases, however, the Debtors will be unable to continue operating
and to pursue their efforts to maximize value -- efforts that will
inure to the benefit of the Debtors' prepetition secured lenders as
well as all other creditors and stakeholders.

As of the Petition Date, the Debtors had total principal
outstanding funded indebtedness of (a) $47.5 million of borrowings
under a three-year senior secured project finance facility pursuant
to a Credit Agreement, dated as of July 18, 2014, with the lenders
from time to time party thereto, and Commonwealth Bank of
Australia, in its capacity as administrative agent, (b) $7.85
million in borrowings under a subordinate secured credit facility
pursuant to a Subordinate Credit Agreement, dated as of April 17,
2015, with the lenders from time to time party thereto and Hale
Capital Partners, L.P., as administrative agent and collateral
agent.

The Debtors, in consultation with their advisors and the Secured
Parties, have developed a 60-day cash flow budget, which covers the
period from the Petition Date through Aug. 21, 2015.  On an interim
basis, the Debtors project that they will utilize approximately
$6.1 million in cash collateral to fund their operations through
the approximately 60-day Interim Budget Period.

During the Interim Budget Period, the Debtors project that they
will have sufficient proceeds from gold sales to pay all projected
operating costs and expenses of the Debtors and all administrative
expenses incurred during that time period in accordance with the
Budget.  As such, the Debtors are not seeking to obtain any
postpetition financing at this point in the cases.

The Secured Parties have consented to the Debtors' use of cash
collateral for a period of at least 60 days, subject to certain
customary events that could cause an earlier termination, in
accordance with the Budget.  The Debtors propose to provide the
Secured Parties with, among other things, a superpriority claim and
replacement liens (including on some unencumbered property but
excluding the Debtors' interest in the Spring Valley related
assets) as adequate protection of the Senior Agent's interests in
the cash collateral solely to secure any diminution in the value of
their prepetition collateral from and after the Petition Date.

The claims, liens, rights and interest granted to the Subordinate
Secured Parties are junior and subordinate to that of the Senior
Secured Parties pursuant to a Subordination Agreement dated April
17, 2015, among the Secured Parties.  As adequate protection, the
Debtors propose to grant the Subordinate Agent a superpriority
claim, and senior replacement liens on unencumbered property.

All components of the adequate protection will be subject to a
carve-out consisting of:

   i. all fees required to be paid to the clerk of the Court and to
the U.S. Trustee under Section 1930(a) of title 28 of the United
States Code plus interest at the statutory rate;

  ii. fees and expenses of up to $25,000 incurred by a trustee
under Section 726(b) of the Bankruptcy Code;

iii. subject to a monthly cap of $40,000 for professionals
retained by the Committee and up to the amounts set forth in the
Budget for professionals retained by the Debtors, to the extent
allowed by the Court, all fees, costs, and expenses (the
"Professional Fees") incurred by persons or firms retained by the
Debtors or the Creditors' Committee pursuant to Section 327, 328,
or 363 of the Bankruptcy Code at any time before the delivery by
the Senior Agent of a Carve-Out Trigger Notice (the "Pre-Trigger
Date Fees");

iv. after the delivery by the Senior Agent of the Carve-Out
Trigger Notice (the "Trigger Date"), to the extent allowed by the
Court, the payment of (x) all Professional Fees of Professional
Persons retained by the Debtors and (y) the payment of Professional
Fees of Professional Persons incurred by the Creditors' Committee,
in an aggregate amount for clauses (x) and (y) not to exceed
$500,000 incurred on and after the Trigger Date (the "Post-Carve
Out Trigger Notice Cap").

In the case of any adversary proceeding filed by a party in
interest with requisite standing other than the Creditors'
Committee, the Challenge Period is 75 days after the Petition Date.
In the case of any adversary proceeding filed by the Creditors'
Committee, the Challenge Period is 90 days after the appointment of
the Creditors' Committee.

                      Other First Day Motions

The Debtors on the Petition Date also filed motions to:

  -- jointly administer their Chapter 11 cases;

  -- establish procedures for transfers of equity securities;

  -- authorize Midway Gold US, Inc. to act as the foreign
representative in ancillary Canadian insolvency proceedings;

  -- maintain their existing bank accounts;

  -- pay prepetition taxes and fees;

  -- continue utility service under Sec. 366(b) of the Bankruptcy
Code; and

  -- pay prepetition wages and benefits.

A copy of Bradley J. Blacketor's declaration in support of the
first day motions is available for free at:

    http://bankrupt.com/misc/Midway_G_1st_Day_Affidavit.pdf

                         About Midway Gold

Midway Gold Corp., incorporated on May 14, 1996 under the laws of
the Province of British Columbia, Canada, is engaged in the
acquisition, exploration and development of mineral properties
located in the state of Nevada and Washington.  Midway Gold's stock
traded on the NYSE MKT and the Toronto Stock Exchange under the
symbol "MDW."

Midway Gold operates primarily through its wholly-owned subsidiary
located in the United States, Midway Gold US Inc.  The executive
offices are in Englewood, Colorado.  Midway US currently has one
gold producing property: the Pan gold mine located in White Pine
County, Nevada.  Midway also has gold properties which are
exploratory stage projects where gold mineralization has been
identified, such as the Tonopah project in Nye County, Nevada, the
Gold Rock project in White Pine County, Nevada, and the Golden
Eagle project in Ferry County, Washington.  Out of these projects,
a permitting process has been undertaken only for the Gold Rock
project.  Finally, Midway's Spring Valley property, another gold
property located in Pershing County, Nevada, is subject to a joint
venture with Barrick Gold Exploration Inc.

On June 22, 2015, Midway Gold US Inc. and 12 related entities,
including parent Midway Gold Corp. each filed a petition in the
U.S. Bankruptcy Court for the District of Colorado seeking relief
under Chapter 11 of the U.S. Bankruptcy Code.  The Debtors' cases
have been assigned to Judge Michael E. Romero.  The Debtors sought
to have their cases jointly administered for procedural purposes;
all pleadings will be maintained on the case docket for Midway Gold
US Inc., Case No. 15-16835.

The Debtors tapped Squire Patton Boggs (US) LLP as bankruptcy
counsel; Sender Wasserman Wadsworth, P.C., as special bankruptcy
and restructuring counsel; DLA Piper (Canada) LLP, as Canadian
bankruptcy counsel; Ernst & Young Inc., as information officer of
Canadian court; RBC Capital Markets, as investment banker; FTI
Consulting as financial advisor; and Epiq Solutions, as claims and
noticing agent.

Midway Gold disclosed $184 million in assets and $62.4 million in
liabilities as of March 31, 2015.


MIDWAY GOLD: Seeks to Limit Trading to Protect NOLs
---------------------------------------------------
Midway Gold US Inc. and the affiliated debtors ask the U.S.
Bankruptcy Court for the District of Colorado to set notification
and hearing procedures for transfers of beneficial interests in
equity securities.

The Debtors have experienced recent and historic losses from the
operation of their business. As a result, the Debtors estimate
that, as of the Petition Date, their federal income tax net
operating losses (the "NOLs") are in the amount of approximately
$29 million for the Debtors incorporated in the United States and
approximately $19 million for the Debtors incorporated in Canada.

In the event of a change in ownership of more than fifty percent of
the stock of Midway Gold, the Canadian parent of Debtor Midway Gold
US Inc. ("Midway US"), the utilization of the $29 million of NOLs
of Midway US will be severely restricted for US federal income tax
purposes pursuant to Section 382 of the Internal Revenue Code, and
accordingly, the value of such NOLs would be substantially reduced.
Thus, any change of control relating to the common stock of Midway
Gold, the Canadian parent, will impact the value of the NOLs of
Midway US and the other US Debtors.

Because an "ownership change" may negatively impact the Debtors'
utilization of their NOLs, the Debtors proposed these procedures:

   * Any "substantial shareholder" -- entity that has direct or
indirect beneficial ownership of at least 5,994,000 shares of
common stock (representing 4.75% of the outstanding shares of
common stock) of NII Holdings -- must serve and file a declaration
on or before the later of (i) 21 days after the date of the interim
order approving the procedures and (ii) 10 days after becoming a
substantial shareholder.

   * Prior to effectuating any transfer of the equity securities
that would result in another entity becoming a substantial
shareholder, the parties to such transaction must serve and file a
notice of the intended stock transaction.

   * The Debtors have 30 calendar days after receipt of the notice
of the proposed stock transaction notice to object to the proposed
transaction.

   * If the Debtors do not object, the proposed transaction may
proceed.

   * Any transfer of the equity securities in violation of the
procedures will be null and void ab initio.

                         About Midway Gold

Midway Gold Corp., incorporated on May 14, 1996 under the laws of
the Province of British Columbia, Canada, is engaged in the
acquisition, exploration and development of mineral properties
located in the state of Nevada and Washington.  Midway Gold's stock
traded on the NYSE MKT and the Toronto Stock Exchange under the
symbol "MDW."

Midway Gold operates primarily through its wholly-owned subsidiary
located in the United States, Midway Gold US Inc.  The executive
offices are in Englewood, Colorado.  Midway US currently has one
gold producing property: the Pan gold mine located in White Pine
County, Nevada.  Midway also has gold properties which are
exploratory stage projects where gold mineralization has been
identified, such as the Tonopah project in Nye County, Nevada, the
Gold Rock project in White Pine County, Nevada, and the Golden
Eagle project in Ferry County, Washington.  Out of these projects,
a permitting process has been undertaken only for the Gold Rock
project.  Finally, Midway's Spring Valley property, another gold
property located in Pershing County, Nevada, is subject to a joint
venture with Barrick Gold Exploration Inc.

On June 22, 2015, Midway Gold US Inc. and 12 related entities,
including parent Midway Gold Corp. each filed a petition in the
U.S. Bankruptcy Court for the District of Colorado seeking relief
under Chapter 11 of the U.S. Bankruptcy Code.  The Debtors' cases
have been assigned to Judge Michael E. Romero.  The Debtors sought
to have their cases jointly administered for procedural purposes;
all pleadings will be maintained on the case docket for Midway Gold
US Inc., Case No. 15-16835.

The Debtors tapped Squire Patton Boggs (US) LLP as bankruptcy
counsel; Sender Wasserman Wadsworth, P.C., as special bankruptcy
and restructuring counsel; DLA Piper (Canada) LLP, as Canadian
bankruptcy counsel; Ernst & Young Inc., as information officer of
Canadian court; RBC Capital Markets, as investment banker; FTI
Consulting as financial advisor; and Epiq Solutions, as claims and
noticing agent.

Midway Gold disclosed $184 million in assets and $62.4 million in
liabilities as of March 31, 2015.


MONTREAL MAINE: Nine Charged Over 2013 Quebec Train Derailment
--------------------------------------------------------------
David George-Cosh, writing for The Wall Street Journal, reported
that the Canadian government said it had laid charges against nine
parties in connection with the deadly derailment of a
crude-carrying train in Lac-Megantic, Quebec, in July 2013.

According to the Journal, citing Canada's transportation ministry,
eight parties were charged with violating the Railway Safety Act,
after an investigation found the train's hand brakes hadn't been
properly applied.  The country's environment ministry, meanwhile,
laid nine charges related to the unlawful dumping of crude oil into
the town's lake and a nearby river, the Journal related.

                      About Montreal Maine

Montreal, Maine & Atlantic Railway Ltd., operated the train that
derailed and exploded in July 2013, killing 47 people and
destroying part of Lac-Megantic, Quebec.

The Company sought bankruptcy protection (Bankr. D. Maine Case No.
13-10670) on Aug. 7, 2013, with the aim of selling its business.
Its Canadian counterpart, Montreal, Maine & Atlantic Canada Co.,
meanwhile, filed for protection from creditors in Superior Court
of
Quebec in Montreal.

Robert J. Keach, Esq., at Bernstein, Shur, Sawyer, and Nelson,
P.A., serves as Chapter 11 trustee.  Michael A. Fagone, Esq., and
D. Sam Anderson, Esq. serves as his counsel.  Development
Specialists, Inc., serves as his financial advisor; and Gordian
Group, LLC, serves as the trustee's investment banker.

Bankruptcy Judge Louis H. Kornreich presides over the U.S. case.
The law firm of Verrill Dana represents the Debtor in its
restructuring effort.

Justice Martin Castonguay oversees the case in Canada.  Andrew
Adessky at Richter Consulting was named CCAA monitor.  The CCAA
Monitor is represented by Sylvain Vauclair at Woods LLP.  MM&A
Canada is represented by Patrice Benoit, Esq., at Gowling LaFleur
Henderson LLP.

The U.S. Trustee appointed a four-member official committee of
derailment victims.  The Official Committee is represented by
Richard P. Olson, Esq., at Perkins Olson; and Luc A. Despins,
Esq., at Paul Hastings LLP.

The unofficial committee of wrongful death claimants is
represented
by George W. Kurr, Jr., Esq., at Gross, Minsky & Mogul, P.A.;
Daniel C. Cohn, Esq., at Murtha Cullina LLP; Peter J. Flowers,
Esq., at Meyers & Flowers, LLC; Jason C. Webster,
Esq., at The Webster Law Firm; and Mitchell A. Toups, Esq., at
Weller, Green Toups & Terrell LLP.

On Jan. 29, 2014, an ad hoc group of wrongful-death claimants
submitted a plan, which would give 75% of the $25 million in
available insurance to the families of those who died after an
unattended train derailed in Lac-Megantic, Quebec, in July.

                            *     *     *

As reported by the Troubled Company Reporter, Robert J. Keach, the
Chapter 11 trustee, will ask the Maine Bankruptcy Court at a
hearing on June 23, 2015, at 10:30 a.m., to approve the disclosure
statement explaining his proposed Plan of Liquidation that
proposes
to distribute C$275 million (US$220 million) to creditors,
including families of the 48 people who died during the 2013 trail
derailment accident.  The hearing on the Disclosure Statement was
originally set for May 19 but has been reset several times.

The Trustee also has proposed this timeline in connection with the
solicitation of votes and confirmation of the Plan:

       Event                                   Time or Deadline
       -----                                   ----------------
    Disclosure Statement Hearing                 June 23, 2015
    Voting Record Date                           June 23, 2015
    Solicitation Date                            July 7, 2015
    Rule 3018 Motion Filing Deadline             July 31, 2015
    Voting Deadline                              Aug. 10, 2015
    Confirmation Objection Deadline              Aug. 10, 2015
    Voting Certification Deadline                Aug. 13, 2015
    Confirmation Reply Deadline                  Aug. 14, 2015
    Confirmation Hearing                         Aug. 20, 2015

The Trustee filed the Plan on March 31, 2015.  The Plan proposes a
liquidation of the Debtor's assets and the creation,
implementation
and distribution of a substantial settlement fund (known as the
indemnity fund under the CCAA Plan) for the benefit of all victims
of the train derailment in 2013 that killed 47 people.  The Plan
is
funded in part by contributions and settlement agreements with
various parties with potential liability arising out of the
derailment, and including, without limitation, such parties'
insurance companies.  In exchange for their contributions, claims
against such parties will be released, and future claims enjoined.

In May 2014, Mr. Keach oversaw the sale of the Debtor's operating
railroad assets for $15.85 million to a unit of New York-based
Fortress Investment Group.  Both the U.S. and Canadian bankruptcy
judges approved the deal.  According to Bloomberg News, Mr. Keach
said the sale proceeds, valued by the trustee at only about $15.9
million, would go entirely to secured creditors, after money that
went into escrow and fees are carved out to pay professionals.


NIRVANA INC: Creditors Have Until Nov. 30 to File Proofs of Claim
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of New York
established Nov. 30, 2015, as the deadline for any individual or
entity to file proofs of claim against Nirvana Inc, and Millers
Wood Development Corp., et al.

                        About Nirvana Inc.

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

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

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

Bankruptcy Judge Diane Davis presides over the case.  The Debtors
tapped Bond, Schoeneck & King, PLLC, as general counsel, and
Teitelbaum & Baskin, LLC, as special counsel.

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



ONE SOURCE: Committee Withdraws Bid to Retain Brinkman as Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of One Source Industrial Holdings, LLC, and One Source
Industrial LLC, notified the U.S. Bankruptcy Court for the Northern
District of Texas of its withdrawal of the motion to retain
Brinkman Portillo Ronk, APC, as its counsel nunc pro tunc to March
31, 2015.

The U.S. Trustee filed an objection to the application to retain
Brinkman Portillo.  The U.S. Trustee said the application failed to
disclose adequately the firm's improper attempts to solicit a
committee.

The U.S. Trustee claims that prior to the United States Trustee
appointing an official committee of unsecured creditors, the law
firm Brinkman Portillo Ronk, APC contacted creditors via telephone
without a prior client relationship.  Improper solicitation of
clients constitutes cause for denying the Applicant's employment
under 11 U.S.C. section 1103(b). The U.S. Trustee said the
Applicant failed to disclose adequately its improper attempts to
solicit a committee on its employment application. Cause exists to
deny applicant employment.

                    About One Source Industrial

One Source Industrial Holdings, LLC, and One Source Industrial LLC
are both limited liability companies.  One Source Industrial
Holdings holds equipment utilized by various related entities which
provide rental equipment and industrial services to businesses in
the oil and gas, refining, manufacturing, pipeline, shipping, and
construction industries.  Industrial provides executive management,
accounting, and overhead services for Holdings.

One Source Holdings sought Chapter 11 bankruptcy protection (Bankr.
N.D. Tex. Case No. 14-44996) on Dec. 16, 2014.  One Industrial
sought Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No.
15-400038) on Jan. 4, 2015.  

Judge Russell F. Nelms presides over the Holdings' case.  J. Robert
Forshey, Esq., and Suzanne K. Rosen, Esq., at Forshey & Prostok,
LLP, represents the Debtors.  The Debtors tapped EJC Ventures LP as
financial consultant.

The Debtor disclosed $12,036,897 in assets and $15,890,063 in
liabilities as of the Chapter 11 filing.

The U.S. Trustee appointed five creditors to serve on the official
committee of unsecured creditors.



PATRIOT COAL: Committee, Pension Plan Object to Bidding Protocol
----------------------------------------------------------------
BankruptcyData reported that Patriot Coal's official committee of
unsecured creditors, the United Mine Workers of America 1974
Pension Plan and Trust, and the United Mine Workers of America,
object to the proposed procedures governing the bidding and sale of
the Debtors' assets.

According to BData, the committee asserts, "The auction process and
bidding procedures presently before the Court are inadequate as
proposed and will impede the Debtors' ability to run a competitive
sale process if approved. The truncated timeline proposed by the
Debtors (and orchestrated by Blackhawk) forecloses any realistic
possibility of a sale of the Debtors' assets to an alternative,
higher and better bidder. Moreover, the proposed bidding
protections, which are far from customary and contain unreasonably
high hurdles for interested parties to become qualified bidders,
will undeniably chill, if not altogether freeze, competitive
bidding on the Debtors' assets....The stalking horse protections
are also onerous and will chill competitive bidding. In particular,
the Debtors have requested this Court's approval of: (a) a $19
million cash breakup fee; (b) up to $5 million in expense
reimbursements; and (c) a $5 million minimum overbid....This
minimum overbid is unreasonable for a transaction of this size,
particularly in light of the fact that no cash consideration is
coming into the estates...The conditionality of the Blackhawk Bid
is further compounded by the lack of a deposit by Blackhawk."

UMWA asserts, "The UMWA supports a fair and open auction process to
maximize value for all constituents, to protect jobs and promised
employee and retiree benefits, and to preserve a going concern
operation. However, simply put, this is not that process. At a
minimum, the sale, auction, and plan confirmation processes must be
extended and start only after the data room is fully populated to
provide potential bidders with enough time to evaluate these
assets, sure up funding and structure binding offers. This requires
more than even the additional six (6) to eight (8) weeks in the
dates current set forth in the Final DIP Order, let alone this
renewed attempt to shorten the Final DIP Order deadlines. The
Breakup Fee must be denied or significantly modified to prevent any
payment to Blackhawk unless and until the offer is firm, supported
by documented and committed financing and backstop documentation,
and not subject to modification, conditions to closing or other
execution risk....Finally, because the identity of the successful
bidder(s) and the ultimate terms of any winning bid(s) are not
presently before the Court, the UMWA reserves the right to object
to any proposed sale(s) at the appropriate time," BData related.  

                        About Patriot Coal

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

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

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

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

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

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

                        *     *     *

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

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


PLUSFUNDS GROUP: Claims in Suit v. DPM Survive Dismissal Bid
------------------------------------------------------------
Chief District Judge Jerome B. Simandle denied the defendants'
motion to eliminate the PlusFunds' causes of action in the case
captioned KENNETH M. KRYS, MARGOT MACINNIS, and THE HARBOUR TRUST
CO. LTD., Plaintiffs, v. ROBERT AARON, DERIVATIVE PORTFOLIO
MANAGEMENT LLC, DPM-MELLON, LLC, DERIVATIVE PORTFOLIO MANAGEMENT,
LTD., DPM-MELLON, LTD, and BANK OF NEW YORK MELLON CORPORATION,
Defendants, CIVIL ACTION NO. 14-2098 (JBS/AMD) (D.N.J.)

The restructuring officer of PlusFunds Group, Inc. entered into an
asset sale agreement with the Joint Official Liquidators ("JOLs")
of SPhinX Funds ("SphinX"), in which PlusFunds assigned its rights
in the PlusFunds' Causes of Actions ("Causes of Action") to a
SphinX liquidating trust for the sole and exclusive benefit of the
JOLs.

Defendants moved to dismiss the PlusFunds' Causes of Action,
arguing that the expiration of the Trust automatically divested the
Trustee and the Trust itself of standing to prosecute the Causes of
Action.  Thus, the Causes of Action should be eliminated and
dismissed as moot.

Judge Simandle, however, held that the Trustee has standing to
pursue the Causes of Action in litigation.  Even if the Trust
terminated, Judge Simandle found that the Trustee's
post-termination wind up authority permits it to prosecute the
PlusFunds' claims.

A copy of the May 22, 2015 opinion is available at
http://is.gd/Ak58nZfrom Leagle.com.

David J. Molton, Esq. -- dmolton@brownrudnick.com --  Andrew S.
Dash, Esq., Mason C. Simpson, Esq. -- msimpson@brownrudnick.com
-- BROWN RUDNICK LLP, New York, N.Y., and Leo R. Beus, Esq., L.
Richard Williams, Esq., Malcolm Loeb, Esq., Thomas A. Gilson, Esq.,
Lee M. Andelin, Esq., BEUS GILBERT PLLC, Phoenix, A.Z., Attorneys
for Plaintiffs.

B. John Pendleton, Jr., Esq., Andrew O. Bunn, Esq., Kristin A.
Pacio, Esq., Gina Trimarco, Esq., DLA PIPER LLP (US), Short Hills,
N.J., Attorneys for Defendants.

                   About PlusFunds Group, Inc.

Headquartered in New York, New York, PlusFunds Group, Inc. --
http://www.plusfunds.com/-- provided hedge funds and other
financial services for individual and corporate investors.  The
Debtor filed for chapter 11 protection on March 6, 2006 (Bankr.
S.D.N.Y. Case No. 06-10402).  James David Leamon, Esq., and Steven
J. Reisman, Esq., at Curtis, Mallet-Prevost, Colt & Mosle
represented the Debtor.  When the Debtor filed for protection from
its creditors, it estimated assets and debt between $1 million and
$10 million.


POINT BLANK: Disclosure Statement Hearing Set for July 23
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
commence a hearing to consider approval of the disclosure statement
explaining the Amended Joint Chapter 11 Plan of Liquidation
proposed by SS Body Armor I, Inc., et al., and the Official
Committee of Unsecured Creditors on July 23, 2015, at 2:00  p.m.
(prevailing Eastern time).

An Amended Disclosure Statement filed June 18, 2015, provides that
each holder of an Allowed General Unsecured Claim will receive an
allocated Class 3 Trust Interest, which will entitle the holder its
pro rata share of funds available to holders of Class 3 Trust
Interests pursuant to the Recovery Trust Agreement.

Any objection or response of a party regarding the approval of the
Disclosure Statement must be filed on or before July 16.

A full-text copy of the June 18 Amended Disclosure Statement is
available at http://bankrupt.com/misc/SSBODYds0618.pdf

                            About Point Blank

Headquartered in Pompano Beach, Florida, Point Blank Solutions,
Inc. -- http://www.pointblanksolutionsinc.com/-- designs and    
produces body armor systems for the U.S. Military, Government and
law enforcement agencies, as well as select international markets.

The Company maintains facilities in Pompano Beach, Florida, and
Jacksboro, Tennessee.

The Company's former chief executive officer and chief operating
officer were convicted in September 2010 of orchestrating a $185
million fraud.

Point Blank Solutions, formerly DHB Industries, filed for Chapter
11 protection (Bankr. D. Del. Case No. 10-11255) on April 14,
2010.

Laura Davis Jones, Esq., Alan J. Kornfeld, Esq., David M.
Bertenthal, Esq., and Timothy P. Cairns, Esq., at Pachulski Stang
Ziehl & Jones LLP, serve as bankruptcy counsel to the Debtor.
Olshan Grundman Frome Rosenweig & Wolosky LLP serves as corporate
counsel.  Epiq Bankruptcy Solutions serves as claims and notice
agent.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Equity Security
Holders in the case.  Ian Connor Bifferato, Esq., and Thomas F.
Driscoll III, Esq., at Bifferato LLC; and Carmen H. Lonstein, Esq.,
Andrew P.R. McDermott, Esq., and Lawrence P. Vonckx, Esq., at Baker
& McKenzie LLP, serve as counsel for the Official Committee of
Equity Security Holders.  Robert M. Hirsh, Esq., and George P.
Angelich, Esq., at Arent Fox LLP, serve as counsel to the Creditors
Committee, and Frederick B. Rosner, Esq., and Brian L. Arban, Esq.,
at the Rosner Law Group LLC, serve as co-counsel.

In October 2011, the Debtors sold substantially all assets to Point
Blank Enterprises, Inc.  The lead debtor changed its name to SS
Body Armor I, Inc., following the sale.


PTC SEAMLESS: Hires Stonecipher Law as Conflicts Counsel
--------------------------------------------------------
PTC Seamless Tube Corp., fka PTC Alliance Pipe Acquisition LLC,
seeks authorization from the U.S. Bankruptcy Court for the Western
District of Pennsylvania to employ Stonecipher Law Firm as
conflicts counsel, nunc pro tunc to May 21, 2015 application date.

The Debtor requires Stonecipher Law to:

   (a) attend meetings and negotiate with representatives of
       creditors and other parties in interest involving Conflict
       Matters;

   (b) take all necessary action to protect and preserve the
       Debtor's estate with respect to Conflict Matters, only,
       Including:

       (i) the prosecution of actions on its behalf,

      (ii) the defense of any actions commenced against the
           estate,
      
     (iii) negotiations concerning litigation in which the Debtor
           may be involved; and

      (iv) objections to claims filed against the estate;

   (c) prepare on behalf of the Debtor all motions, applications,
       answers, orders, reports, and papers necessary for the
       resolution of Conflict Matters;

   (d) appear in the Bankruptcy Court and any appellate courts and

       before the U.S. Trustee, and protect the interests of the
       Debtor's estate before such courts and the U.S. Trustee
       with respect to Conflict Matters; and

   (e) perform all other necessary legal services and provide all
       other necessary legal advice to the Debtor in connection
       with the foregoing and with respect to Conflict Matters,
       only.

Stonecipher Law will be paid at these hourly rates:

       George T. Snyder, Partner       $400
       Ronald B. Roteman, Partner      $400
       Roy E. Leonard, Partner         $410
       Jeanne S. Lofgren, Associate    $325
       Jaclyn E. Faulds, Associate     $185
       Partners                        $400-$440
       Counsel                         $350-$390
       Associates                      $185-$325
       Legal Assistants, Paralegals,
       and Support Staff               $90-$130

Stonecipher Law will also be reimbursed for reasonable
out-of-pocket expenses incurred.

George T. Snyder, attorney at Stonecipher Law, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Stonecipher Law provided the following information in response to
the request for additional information set forth in paragraph D.1.
the Guidelines for Reviewing Applications for Compensation and
Reimbursement of Expenses Filed under 11 U.S.C. section 330 by
Attorneys in Larger Chapter 11 Cases (the "U.S. Trustee
Guidelines").

  -- The hourly rates set forth herein are consistent with the
     Rates that Stonecipher charges other comparable chapter 11
     clients, and the rate structure provided by Stonecipher is
     appropriate and is not significantly different from (a) the
     rates that Stonecipher charges in other non-bankruptcy
     representations or (b) the rates of other comparably skilled
     professionals for similar engagements.

  -- Stonecipher has not represented the Debtor in the 12 months
     prior to the Petition Date.

  -- As conflicts counsel for the Debtor's estate, the extent to
     which Stonecipher may be called upon to render services to
     the Debtor is uncertain and unpredictable. The Debtor has
     reviewed and approved the proposed rates for the Stonecipher
     attorneys staffing this matter.

Stonecipher Law can be reached at:

     George T. Snyder
     STONECIPHER LAW FIRM
     125 First Ave.
     Pittsburgh, PA 15222-1590
     Tel: (412) 391-8510
     Fax: (412) 391-8522
     E-mail: gsnyder@stonecipherlaw.com

                           About PTC Seamless

PTC Seamless Tube Corp. was created by PTC Group Holdings Corp. to
enter into the seamless tube market, a new type of manufacturing
for PTC.  Seamless's executive and financial operations are based
in Wexford, Pennsylvania.  Seamless has a single plant located in
Hopkinsville, Kentucky, which is under construction.

PTC Group and its subsidiaries are leading manufacturers and
marketers of steel tubing, tubular shapes, bar products, fabricated
parts, and precision components.  PTC Group was formed in 2000 by
the merger of the Pittsburgh Tube Company and J.H. Roberts
Industries, Inc.  PTC Group has two direct subsidiaries: Seamless
and PTC Alliance Corp.

Seamless sought Chapter 11 bankruptcy protection (Bankr. W.D. Pa.
Case No. 15-21445) in Pittsburgh, Pennsylvania, on April 26, 2015.

Judge Carlota M. Bohm presides over the case.  PTC Group and
Alliance have not commenced Chapter 11 cases.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due Aug. 24, 2015.  The deadline for
governmental entities to file claims is Oct. 23, 2015.

The Debtor tapped Reed Smith, LLP as counsel; Candlewood Partners,
LLC as investment banker and financial advisor; and Logan &
Company, Inc., as claims, noticing, and balloting agent.

The Debtor disclosed $99,347,576 in total assets and $280,030,034
in liabilities in its schedules.

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


QUICKSILVER RESOURCES: July 31 Fixed as General Claims Bar Date
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware established
July 31, 2015, at 5:00 p.m. as the deadline for creditors -- other
than governmental units -- to file proofs of claim against
Quicksilver Resources Inc., et al.  The Court set a Sept. 14, 2015,
at 5:00 p.m. governmental claims bar date.

Proofs of claim must be submitted to the Debtors' claims agent:

if sent via first class mail:

         Quicksilver Resources Inc., et al.,
         c/o GCG
         P.O. Box 10155
         Dublin, OH 43017-3155

if sent via had delivery or overnight mail:

         Quicksilver Resources Inc., et al.,
         c/o GCG
         5151 Blazer parkway, Suite A
         Dublin, OH 43017

                    About Quicksilver Resources

Quicksilver Resources Inc. (OTCMKTS: KWKAQ) is an exploration and
production company engaged in the development and production of
long-lived natural gas and oil properties onshore North America
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.

Quicksilver Resources Inc. and certain of its affiliates filed
voluntary Chapter 11 petitions (Bankr. D. Del. Lead Case No.
15-10585) on March 17, 2015.  Quicksilver's Canadian
subsidiaries were not included in the chapter 11 filing.

The bankruptcy cases are assigned to Judge Laurie Selber
Silverstein.  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 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 to serve on
the official committee
of unsecured creditors.  The Committee retained Paul, Weiss,
Rifkind, Wharton & Garrison LLP as counsel; and Landis Rath & Cobb
LLP as Delaware counsel.  It retained Capstone Advisory Group, LLC
and Capstone Valuation Services, LLC as financial advisors; and
Moelis & Company LLC as investment banker.



RADIOSCHACK CORP: Get Approval to Terminate Store Lease With HEB
----------------------------------------------------------------
U.S. Bankruptcy Judge Brendan Shannon approved RadioShack Corp.'s
agreement with HEB Grocery Company LP to terminate its store
lease.

Under the deal, HEB Grocery agreed to waive its claims for February
and June 2015 lease obligations in return for the termination of
the lease.    

HEB Grocery emerged as the winning bidder for the store lease at a
bankruptcy auction conducted by the electronics retailer.  The
store, located in San Antonio, Texas, was identified in court
papers as Store No. 9291.

                  About RadioShack Corporation

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

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

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

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

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

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

The bankruptcy case is assigned to Judge Brendan L. Shannon.


RADIOSCHACK CORP: Judge Extends Deadline to Remove Suits to Aug. 4
------------------------------------------------------------------
U.S. Bankruptcy Judge Brendan Shannon has given RadioShack Corp.
until August 4, 2015, to file notices of removal of lawsuits
involving the company and its affiliates.

                  About RadioShack Corporation

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

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

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

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

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

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

The bankruptcy case is assigned to Judge Brendan L. Shannon.


RADIOSCHACK CORP: Sells Boston Store Lease to Sweetwater
--------------------------------------------------------
RadioShack Corp. received approval from U.S. Bankruptcy Judge
Brendan Shannon to sell a store lease to Sweetwater Boston LLC.

Sweetwater offered to acquire the lease on a RadioShack store
located at 13-15 School Street, in Boston, Massachusetts.
The store was identified in court papers as Store No. 1153.

The Boston store lease is one of the 32 leases identified in
RadioShack's initial report for the third bidding round for its
leases.  Judge Shannon approved the bidding process on April 28.

                  About RadioShack Corporation

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

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

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

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

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

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

The bankruptcy case is assigned to Judge Brendan L. Shannon.


RADIOSCHACK CORP: To Sell Properties to B.H. Mg't. for $39.3M
-------------------------------------------------------------
RadioShack Corp. received court approval to sell its real
properties to B.H. Management Inc. for $39.29 million.

U.S. Bankruptcy Judge Brendan Shannon on June 19 gave approval to
the deal, allowing RadioShack to sell real properties owned by the
company and its affiliate TE Electronics LP.

The properties, located in Forth Worth, Texas, and Woodland,
California, were supposed to be sold at an auction on June 11, with
B.H. Management's $39.29 million offer serving as the stalking
horse bid.  The auction was canceled on June 10.

RadioShack earlier resolved an objection from Tarrant County's tax
office by inserting language in the court order, clarifying that
the agency's liens "shall remain attached to the properties."  The
agency holds tax claims aggregating $950,000, court filings show.

The electronics retailer also received an objection from the U.S.
Environmental Protection Agency in which the latter opposed any
move to exempt the buyer from its obligation to comply with
environmental law.

                  About RadioShack Corporation

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

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

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

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

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

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

The bankruptcy case is assigned to Judge Brendan L. Shannon.


RADIOSCHACK CORP: To Sell Property to SK Realty for $11.4M
----------------------------------------------------------
U.S. Bankruptcy Judge Brendan Shannon has given RadioShack Corp.
the green light to sell a real property to SK Realty Management
LLP.

SK Realty offered $11.4 million for the property located along
Tandy Drive, in Hagerstown, Maryland.  

The property was supposed to be sold at an auction on June 11, with
SK Realty's offer serving as the stalking horse bid.  RadioShack,
however, canceled the auction on June 10, court filings show.

                  About RadioShack Corporation

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

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

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

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

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

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

The bankruptcy case is assigned to Judge Brendan L. Shannon.


RADIOSCHACK CORP: To Terminate Leases With Times Plaza, 2 Others
----------------------------------------------------------------
U.S. Bankruptcy Judge Brendan Shannon approved RadioShack Corp.'s
three separate agreements with Times Plaza Development LP and two
other landlords.

The agreements call for the termination of RadioShack's store
leases with Times Plaza, Powell-Lehi LLC and Midland Tarkenton LLC.
RadioShack will receive payments from the landlords in the total
amount of $54,766, according to court filings.  

The landlords emerged as the winning bidders for the leases on
three RadioShack stores at a bankruptcy auction held on May 14.

The stores located in New York, Utah and Iowa were identified in
court papers as Store Nos. 2822, 4258 and 6110.

                  About RadioShack Corporation

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

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

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

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

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

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

The bankruptcy case is assigned to Judge Brendan L. Shannon.


RADIOSHACK CORP: $26.2M Sale of IP Assets Okayed
------------------------------------------------
RadioShack Corporation earlier this month won approval from the
U.S. Bankruptcy Court for the District of Delaware of the Purchase
Agreement for the sale to General Wireless Operations Inc. of the
Company's brand name and customer data for $26.2 million in cash
and the assumption of specified liabilities.

The parties entered into the sale deal on May 15, 2015.  The Court
approved the sale on June 4, 2015 and the IP Purchase Agreement
became enforceable against the Company. The Bankruptcy Court order
approving the IP Purchase Agreement and Sale was entered following
the completion of an auction process in which the Buyer was
declared the winning bidder.

The IP Purchase Agreement contains customary representations,
warranties and covenants and is subject to customary closing
conditions, including receipt of Bankruptcy Court approvals. The IP
Purchase Agreement allows the Buyer a period of up to 90 days
following the closing date of the Sale to select contracts to be
assumed by the Buyer in the Bankruptcy Cases and allows the Buyer
to defer the closing date with respect to the Assumed Contacts,
specified assets related to the Company's Asia sourcing business
and specified trademarks registered in the United Kingdom for a
period of up to six months following the closing date of the Sale.
In addition, pursuant to the order of the Bankruptcy Court
approving the IP Purchase Agreement and Sale, the Debtors are
obligated to change each of their respective names to a name that
does not contain any Trademark (as defined in the IP Purchase
Agreement) upon and in connection with the closing of the Sale.

The IP Purchase Agreement may be terminated by either party in
specified circumstances, including by the Buyer if the closing of
the Sale does not occur on or prior to June 19, 2015.

The Company is currently unable in good faith to make a
determination of an estimate of the amount or range of amounts
expected to be incurred in connection with the Sale and the Chapter
11 Cases, both with respect to each major type of cost associated
therewith and with respect to the total cost, or an estimate of the
amount or range of amounts that will result in future cash
expenditures for such transactions.

RadioShack noted in a regulatory filing that holders of the
Company's common stock have no interest in the Buyer or the assets
acquired by the Buyer in the Sale.  The Company believes that there
will be no value for common stockholders of the Company following
completion of the bankruptcy liquidation process. Equity holders of
a company in Chapter 11 bankruptcy generally receive value only if
all claims of the company's secured and unsecured creditors are
fully satisfied. The Company believes that the claims of its
secured and unsecured creditors will not be fully satisfied
following completion of the Sale and the liquidation of the
Company's remaining assets.

RadioShack has filed a bankruptcy liquidation plan explaining how
its remaining assets will be distributed.  The Plan follows the
sale of about 1,700 of the chain's stores and the IP assets to
General Wireless, a unit of the New York hedge fund Standard
General.  The Plan was filed June 12.  The Plan, according to a
Bloomberg News report, doesn't include specific distribution
amounts, but general unsecured creditors and other claimholders
will get a pro rata share of the assets remaining in a liquidating
trust.

Standard General may be reached at:

     General Wireless Operations Inc.
     c/o Standard General L.P.
     767 Fifth Avenue, 12th Floor
     New York, NY 10153
     Attention: Gail Steiner
     Fax: (212) 257-4709

Standard General is represented in the case by:

     DEBEVOISE & PLIMPTON LLP
     919 Third Avenue
     New York, NY 10022
     Attention: Jonathan E. Levitsky
     Fax: (212) 909-6836

A copy of the sale agreement is available at http://is.gd/ElVtve

                   About RadioShack Corporation

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

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

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

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

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

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


RADIOSHACK CORP: Lenders, Retirees Rip Solicitation Procedures
--------------------------------------------------------------
Radioshack Corporation, et al.'s proposed procedures governing the
solicitation of votes and confirmation of their Joint Plan of
Liquidation met objections raised by Salus Capital Partners, LLC, a
lender under the SCP Credit Agreement; Cantor Fitzgerald Securities
LLC, as DIP Agent and Pre-Petition ABL Agent and the First Out ABL
Lenders; and Manoj P. Singh, Jeffrey Snyder, William A. Gerhart and
Steven Wolpin, on behalf of the RadioShack 401(k) Plan and the
RadioShack 1165(e) Plan, themselves and a class of similarly
situated participants and beneficiaries of the ERISA Plans.

The Disclosure Statement, filed six days after the Plan was filed,
provides that holders of Class 1 - Priority Claims and Class 2 -
Secured Claims will recover 100% od their allowed claims, while
holders of Class 4 - Dark Store Claims will recover 75% of their
allowed claims.  The Disclosure Statement leaves blank the
estimated recovery of holders of Class 5 - General Unsecured Claims
but provides that general unsecured creditors will receive a pro
rata share, with allowed claims in Classes 6 and 7, of the
remaining liquidating trust assets.

Salus, which filed a motion to convert the Debtors' Chapter 11
cases to ones under Chapter 7 of the Bankruptcy Code, objects to
the Debtors' Solicitation Procedures Motion and the proposed
timetable, which would unnecessarily extend the Debtors' time in
Chapter 11.  Prolonging the Chapter 11 cases so that the Debtors
can pursue a plan process will significantly increase the
substantial costs that have already been incurred by the Debtors --
costs which are largely being borne by Salus, the secured lender
complains.  With the sale of substantially all of the Debtors'
assets complete, Salus should not be forced to fund a costly and
unnecessary plan process for the purpose of monetizing speculative
litigation claims which, to the extent a trustee and the creditors
find them to be worthwhile, can be pursued in a Chapter 7
proceeding, the secured lender further complains.

The ABL Parties complain that no plan can be confirmed, and no
disclosure statement approved, without adequate procedures to
properly treat the Debtors' superpriority administrative expense
obligations owing to the ABL Parties.

The ERISA Plaintiffs, whose objection was filed before the filing
of the Disclosure Statement, complain that the motion seeking
approval of the solicitation procedures is an inappropriate and
unnecessary rush to commence a confirmation process solely to fend
off Salus' conversion attempt.  The ERISA Plaintiffs further
complain that since the General Bar Date is still one month away,
neither parties-in-interest nor the Court have competent
information with respect to the size and composition of the claims
asserted against the Debtors' assets.  This information, according
to the ERISA Plaintiffs, is crucial to any analysis of the
Disclosure Statement and, therefore, to any consideration of
whether it is appropriate to combine a hearing to approve the
Disclosure Statement with a hearing to confirm the Plan.

A full-text copy of the Disclosure Statement dated June 18, 2015,
is available at http://bankrupt.com/misc/RADIOSHACKds0618.pdf

Salus is represented by Anthony W. Clark, Esq., and Jason M.
Liberi, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, in
Wilmington, Delaware; and Jay M. Goffman, Esq., Mark A. McDermott,
Esq., and Christine A. Okike, Esq., at Skadden, Arps, Slate,
Meagher & Flom LLP, in New York.

Funds managed or advised by BlueCrest Capital Management (New York)
LP; DW Partners, L.P.; Macquarie Credit Investment Management Inc.,
Mudrick Capital Management, LP; Saba Capital Management, L.P.; T.
Rowe Price Associates, Inc. and Taconic Capital Advisors L.P.,
which are part of the ABL Parties, are represented by:

         Damian S. Schaible, Esq.
         Elliot Moskowitz, Esq.
         Darren S. Klein, Esq.
         DAVIS POLK & WARDWELL LLP
         450 Lexington Avenue
         New York, NY 10017
         Tel: (212) 450-4000
         Fax: (212) 710-5800

            -- and --

         Stanley B. Tarr, Esq.
         Victoria Guilfoyle, Esq.
         BLANK ROME LLP
         1201 N. Market Street, Suite 800
         Wilmington, DE 19801
         Tel: (302) 425-6400
         Fax: (302) 425-6464
         Email: tarr@blankrome.com
                guilfoyle@blankrome.com

            -- and --

         Lawrence F. Flick II, Esq.
         Rick Antonoff, Esq.
         Michael Kim, Esq.
         BLANK ROME LLP
         The Chrysler Building
         405 Lexington Avenue
         New York, NY 10174-0208
         Tel: (212) 885-5000
         Fax: (212) 885-5001
         Email: flick@blankrome.com
                rantonoff@blankrome.com
                mkim@blankrome.com

Cantor Fitzgerald is represented by:


         Scott D. Talmadge, Esq.
         Stephen Castro, Esq.
         KAYE SCHOLER LLP
         250 West 55th Street
         New York, NY 10019-9710
         Tel: (212) 836-7039
         Fax: (212) 836-6540
         Email: scott.talmadge@kayescholer.com

            -- and --

         Jeremy W. Ryan, Esq.
         R. Stephen McNeill, Esq.
         POTTER ANDERSON & CORROON LLP
         1313 North Market Street, Sixth Floor
         P.O. Box 951
         Wilmington, DE 19899-0951
         Tel: (302) 984-6000
         Fax: (302) 658-1192

The ERISA Plaintiffs are represented by Christopher P. Simon, Esq.,
at Cross & Simon, LLC, in Wilmington, Delaware; Michael S. Etkin,
Esq., and S. Jason Teele, Esq., at Lowenstein Sandler LLP, in
Roseland, New Jersey; and Edward W. Ciolko, Esq., and Mark K.
Gyandoh, Esq., at Kessler Topaz Meltzer & Check LLP, in Radnor,
Pennsylvania.

                     About RadioShack Corporation

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

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

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

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

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

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

The bankruptcy case is assigned to Judge Brendan L. Shannon.


REICHHOLD HOLDINGS: Has Until Sept. 28 to File Liquidating Plan
---------------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware issued a second order ruling that no party, other than
Reichhold Holdings US, Inc., et al., may file a Chapter 11 plan
through and including Sept. 28, 2015.

Judge Walrath also ruled that no party, other than the Debtors, may
solicit votes to accept a proposed Chapter 11 plan through and
including Nov. 26, 2015.

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

                          About Reichhold

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

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

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

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

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

The cases are assigned to Judge Mary F. Walrath.

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

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

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


RESIDENTIAL CAPITAL: Court Rules on Motion to Strike
----------------------------------------------------
District Judge Susan Richard Nelson granted in part and denied
without prejudice in part the plaintiffs' Motion to Strike or in
the alternative, for Judgment on the Pleadings as to Ten of
Defendants' Affirmative Defenses in the case captioned In re: RFC
and ResCap Liquidating Trust Litigation. This document relates to:
Residential Funding Company, LLC v. Ark-La-Tex Financial Services,
LLC, No. 13-cv-3448 (DWF/TNL) Residential Funding Company, LLC v.
Academy Mortgage Corporation, No. 13-cv-3451 (SRN/BRT) Residential
Funding Company, LLC v. First California Mortgage Company, No.
13-cv-3453 (SRN/JJK) Residential Funding Company, LLC v. Community
West Bank, N.A., No. 13-cv-3468 (JRT/JJK) Residential Funding
Company, LLC and ResCap Liquidating Trust v. Provident Funding
Associates, L.P., No. 13-cv-3485 (SRN/TNL) Residential Funding
Company, LLC v. E*Trade Bank, No. 13-cv-3496 (JNE/HB) Residential
Funding Company, LLC v. PNC Bank, N.A., No. 13-cv-3498 (JRT/BRT)
Residential Funding Company, LLC v. Branch Banking & Trust Company,
No. 13-cv-3513 (PJS/BRT) Residential Funding Company, LLC v. T.J.
Financial, Inc., No. 13-cv-3515 (SRN/SER) Residential Funding
Company, LLC v. Universal American Mortgage Company, LLC, No.
13-cv-3519 (SRN/JSM) Residential Funding Company, LLC v. BMO Harris
Bank, N.A. d/b/a M&I Bank, FSB, No. 13-cv-3523 (JNE/FLN)
Residential Funding Company, LLC v. Wells Fargo Financial Retail
Credit, Inc., No. 13-cv-3525 (SRN/JSM). Residential Funding
Company, LLC and ResCap Liquidating Trust v. Standard Pacific
Mortgage, Inc., No. 13-cv-3526 (JRT/JJK) Residential Funding
Company, LLC v. iServe Residential Lending, LLC, No. 13-cv-3531
(PJS/TNL) Residential Funding Company, LLC v. CTX Mortgage Company,
LLC, No. 14-cv-1710 (DSD/TNL) Residential Funding Company, LLC v.
American Mortgage Network, LLC., No. 14-cv-1760 (PJS/TNL) ResCap
Liquidating Trust v. Freedom Mortgage Corporation, No. 14-cv-5101
(MJD/HB) Residential Funding Company, LLC v. Homestead Funding
Corp., No. 13-cv 3520 (JRT/HB), CIV. NO. 13-3451 (SRN/JJK/HB) (D.
Minn.)

Lawsuits were filed against the defendants for their sale of
allegedly defective mortgage loans to Residential Funding Company
("RFC").  The plaintiffs asserted two causes of action against each
defendant: (1) a claim for breach of contract, based on alleged
breaches of representations and warranties; and (2) indemnification
from defendants for losses and liabilities related to the defective
loans.

The Motion challenged ten of the affirmative defenses asserted in
the Answers filed by the defendants.  Plaintiffs sought to strike
or, alternatively, dismiss the following defenses: (1) reliance-
and knowledge-based defenses that RFC either knew of the
defendants' breaches of representations or warranties at the time
of entering into the parties' contracts or did not rely on the
defendants' representations or warranties; (2) equitable defenses
of unclean hands, laches, and in pari delicto; and (3) defenses
based on the satisfaction of conditions precedent prior to imposing
upon the defendants liability for breach of contract or
indemnification.

Judge Nelson denied without prejudice the plaintiffs' motion to
strike the defenses based on knowledge and reliance, as she is
unable to rule that no genuine issues of fact remain in dispute as
to these affirmative defenses given the limited development of the
record at this point.

However, the plaintiffs' motion to strike the reliance- and
knowledge-based assumption of the risk defense was granted because
it is inapplicable in a breach of contract action.

Judge Nelson granted the plaintiffs' motion to strike the defense
based on the failure to comply with any conditions precedent,
although the defendants may re-plead this defense should the
particular agreements in question contain such language and
assuming that the pleading of the defense satisfies the
particularity requirements of Rule 9(c).  

Finally, the plaintiffs' motion to strike the defenses of unclean
hands, laches, and in pari delicto was granted because they were
inapplicable to the plaintiffs' claims as a matter of law.

A copy of the May 21, 2015 amended memorandum opinion and order is
available at http://is.gd/o41ed6from Leagle.com.

Residential Funding Company, LLC, Plaintiff, represented by Anthony
Alden -- anthonyalden@quinnemanuel.com -- Quinn Emanuel Urquhart &
Sullivan, David Elsberg -- davidelsberg@quinnemanuel.com -- Quinn
Emanuel Urquhart & Sullivan LLP, David L Hashmall, Felhaber Larson,
Donald G Heeman, Felhaber Larson, Edward P Sheu --
esheu@bestlaw.com -- Best & Flanagan LLP, Gabriel F Soledad --
gabrielsoledad@quinnemanuel.com -- Quinn Emanuel Urquhart &
Sullivan, Isaac Nesser -- isaacnesser@quinnemanuel.com -- Quinn
Emanuel Urquhart & Sullivan, Jeffrey A Lipps --
lipps@carpenterlipps.com -- Carpenter Lipps & Leland LLP, Jennifer
A L Battle -- battle@carpenterlipps.com -- Carpenter Lipps & Leland
LLP, Johanna Ong -- johannaong@quinnemanuel.com -- Quinn Emanuel
Urquhart & Sullivan, LLP, Marnie E Fearon, Felhaber Larson, Matthew
R Scheck -- matthewscheck@quinnemanuel.com -- Quinn Emanuel
Urquhart & Sullivan, Peter E. Calamari --
petercalamari@quinnemanuel.com -- Quinn Emanuel Urquhart & Sullivan
LLP, Richard R Voelbel, Felhaber Larson, Ryan A Olson, Felhaber
Larson, Thomas G Garry -- tgarry@bestlaw.com -- Best & Flanagan
LLP, Bradley T Smith, Felhaber Larson, Jessica J Nelson, Felhaber
Larson & Daniel R Kelly, Felhaber Larson.

ResCap Liquidating Trust, Plaintiff, represented by Anthony Alden,
Quinn Emanuel Urquhart & Sullivan,Bradley T Smith, Felhaber Larson,
David Elsberg, Quinn Emanuel Urquhart & Sullivan LLP, David L
Hashmall, Felhaber Larson, Donald G Heeman, Felhaber Larson,
Gabriel F Soledad, Quinn Emanuel Urquhart & Sullivan, Isaac Nesser,
Quinn Emanuel Urquhart & Sullivan, Jeffrey A Lipps, Carpenter Lipps
& Leland LLP, Jennifer A L Battle, Carpenter Lipps & Leland LLP,
Johanna Ong, Quinn Emanuel Urquhart & Sullivan, LLP, Marnie E
Fearon, Felhaber Larson, Matthew R Scheck, Quinn Emanuel Urquhart &
Sullivan,Peter E. Calamari, Quinn Emanuel Urquhart & Sullivan LLP,
Richard R Voelbel, Felhaber Larson, Ryan A Olson, Felhaber Larson,
Jessica J Nelson, Felhaber Larson & Daniel R Kelly, Felhaber
Larson.

Academy Mortgage Corporation, Defendant, represented by David M
Souders -- souders@thewbkfirm.com -- Weiner Brodsky Kider PC, Tessa
K Somers -- somers@thewbkfirm.com -- Weiner Brodsky Kider PC,
Daniel J Supalla, Briggs & Morgan, PA & James L Forman --
jforman@obermanthompson.com -- Oberman Thompson, LLC.

Mortgage Outlet, Inc., The, Defendant, represented by Eldon J
Spencer, Jr -- espencer@losgs.com -- Leonard, O'Brien, Spencer,
Gale & Sayre, Ltd, Stacey L Drentlaw -- sdrentlaw@losgs.com --
Leonard, O'Brien, Spencer, Gale & Sayre, Ltd & Daniel J Supalla,
Briggs & Morgan, PA.

Ark-La-Tex Financial Services, LLC, Defendant, represented by Mark
J Carpenter -- mark@carpenter-law-firm.com -- Carpenter Law Firm
PLLC & Daniel J Supalla, Briggs & Morgan, PA.

Cherry Creek Mortgage Co., Inc., and Fremont Bank, Defendants,
represented by Eldon J Spencer, Jr, Leonard, O'Brien, Spencer, Gale
& Sayre, Ltd, James M Jorissen -- jjorissen@losgs.com -- Leonard,
O'Brien, Spencer, Gale & Sayre, Ltd, Stacey L Drentlaw, Leonard,
O'Brien, Spencer, Gale & Sayre, Ltd & Daniel J Supalla, Briggs &
Morgan, PA.

Guaranty Bank, Defendant, represented by Gregory A Bromen --
gbromen@nilanjohnson.com -- Nilan Johnson Lewis PA, Matthew S.
Vignali -- mvignali@bcblaw.net -- Beck Chaet Bamberger & Polksy SC,
Steven W Jelenchick -- sjelenchick@bcblaw.net -- Beck Chaet
Bamberger & Polsky SC & Daniel J Supalla, Briggs & Morgan, PA.

First California Mortgage Company, Americash, Broadview Mortgage
Corp., Central Pacific Homeloans, Inc., Central Pacific Bank,
Central Pacific Financial Corp., Mortgage Network, Inc., doing
business as MNET Mortgage Corporation, Mortgage Access Corp., doing
business as Weichert Financial Services, Wallick & Volk, Inc., and
Gateway Bank, F.S.B., Defendants, represented by Andrew Steinfeld
-- asteinfeld@americanmlg.com -- American Morgage Law Group, P.C.,
Carol R M Moss -- cmoss@hjlawfirm.com -- Hellmuth & Johnson PLLC,
Edward Page Allinson -- eallinson@americanmlg.com -- American
Mortgage Law Group, P.C., Evans D Prieston, American Mortgage Law
Group, P.C., J Robert Keena -- jkeena@hjlawfirm.com -- Hellmuth &
Johnson PLLC, Jack V Valinoti -- jvalinoti@americanmlg.com --
American Mortgage Law Group, P.C., James W. Brody --
jbrody@americanmlg.com -- American Mortgage Law Group & Daniel J
Supalla, Briggs & Morgan, PA.

Golden Empire Mortgage, Inc., Defendant, represented by Erin
Sindberg Porter -- esindbergporter@greeneespel.com -- Greene Espel
PLLP, Janine Wetzel Kimble -- jkimble@greeneespel.com -- Greene
Espel PLLP, Jenny Gassman-Pines -- jgassman-pines@greeneespel.com
-- Greene Espel PLLP, Philip R. Stein – pstein@bilzin.com --
Bilzin Sumberg Baena Price & Axelrod LLP, Shalia M Sakona --
ssakona@bilzin.com -- Bilzin Sumberg Baena Price & Axelrod LLP &
Daniel J Supalla -- dsupalla@briggs.com -- Briggs & Morgan, PA.

Community West Bank, N.A., Defendant, represented by Christina
Rieck Loukas -– cloukas@winthrop.com -- Winthrop & Weinstine, PA,
Christopher A Camardello – ccamardello@winthrop.com -- Winthrop &
Weinstine, PA, Jeffrey R Ansel -- jansel@winthrop.com -- Winthrop &
Weinstine, PA, Michael A Rosow -- mrosow@winthrop.com -- Winthrop &
Weinstine, PA & Daniel J Supalla, Briggs & Morgan, PA.

First Equity Mortgage Bankers, Inc., Mortgage Capital Associates,
Inc., and E Trade Bank, as successor to United Medical Bank, FSB,
Defendants, represented by Amelia R Selvig --
aselvig@anthonyostlund.com -- Anthony Ostlund Baer & Louwagie PA,
Brooke D Anthony – banthony@anthonyostlund.com -- Anthony Ostlund
Baer & Louwagie PA, Joseph W Anthony -- janthony@anthonyostlund.com
-- Anthony Ostlund Baer & Louwagie PA, Philip R. Stein, Bilzin
Sumberg Baena Price & Axelrod LLP, Shalia M Sakona, Bilzin Sumberg
Baena Price & Axelrod LLP & Daniel J Supalla, Briggs & Morgan, PA.

Colonial Savings, F.A., Defendant, represented by Daniel N Moak
-- dmoak@briggs.com -- Briggs & Morgan, PA, Daniel J Supalla,
Briggs & Morgan, PA & Mark G Schroeder, Briggs & Morgan, PA.

First Guaranty Mortgage Corporation, Defendant, represented by
Kevin J Dunlevy -- kevind@bdmnlaw.com -- Beisel & Dunlevy, PA,
Michael E Kreun -- michaelk@bdmnlaw.com -- Beisel & Dunlevy, PA &
Daniel J Supalla, Briggs & Morgan, PA.

Provident Funding Associates, L.P., Defendant, represented by
Daniel N Moak, Briggs & Morgan, PA, Daniel J Supalla, Briggs &
Morgan, PA, Mark G Schroeder –- mschroeder@briggs.com -- Briggs &
Morgan, PA & Neil R O'Hanlon -- neil.ohanlon@hoganlovells.com --
Hogan Lovells US LLP.

First Mortgage Corporation, Defendant, represented by Gene A Hoff,
Minenko & Hoff, Michael J Minenko, Minenko & Hoff, P.A. & Daniel J
Supalla, Briggs & Morgan, PA.

Lenox Financial Mortgage Corp., Defendant, represented by Gina L
Albertson, Albertson Law, Michael D O'Neill, Martin & Squires, P.A.
& Daniel J Supalla, Briggs & Morgan, PA.

Lake Forest Bank & Trust Company, Defendant, represented by Amelia
R Selvig, Anthony Ostlund Baer & Louwagie PA, Amy Y Cho, Shook,
Hardy & Bacon LLP, Brooke D Anthony, Anthony Ostlund Baer &
Louwagie PA, Michael P Conway, Shook, Hardy & Bacon LLP & Daniel J
Supalla, Briggs & Morgan, PA.

PNC Bank, N.A., as successor in interest to National City Mortgage
Co., NCMC Newco, Inc. and North Central Financial Corporation,
Defendant, represented by Adam M Gogolak, Wachtell, Lipton, Rosen &
Katz, Amanda Raines Lawrence, BuckleySandler LLP, Brett J
Natarelli, BuckleySandler LLP, Daniel J Supalla, Briggs & Morgan,
PA, David A Schooler, Briggs & Morgan, PA, Elaine P Golin,
Wachtell, Lipton, Rosen & Katz, Fredrick S Levin, BuckleySandler
LLP, Jonathan M Moses, Wachtell, Lipton, Rosen & Katz, Justin V
Rodriguez, Wachtell, Lipton, Rosen & Katz, Mark G Schroeder, Briggs
& Morgan, PA,Michael A. Rome, BuckleySandler LLP & Richard E
Gottlieb, BuckleySandler LLP.

Cornerstone Home Lending, Inc., formerly known as Cornerstone
Mortgage Company, and Stearns Lending, LLC, formerly known as First
Pacific Financial, Inc., Defendants, represented by Alan H Maclin,
Briggs & Morgan, PA, Daniel J Supalla, Briggs & Morgan, PA & Mark G
Schroeder, Briggs & Morgan, PA.

Impac Funding Corporation, Defendant, represented by Erin Sindberg
Porter, Greene Espel PLLP, Jenny Gassman-Pines, Greene Espel PLLP,
Katherine M. Swenson, Greene Espel PLLP, Daniel J Supalla, Briggs &
Morgan, PA & Janine Wetzel Kimble, Greene Espel PLLP.

Plaza Home Mortgage, Inc., Defendant, represented by Amelia R
Selvig, Anthony Ostlund Baer & Louwagie PA, Brooke D Anthony,
Anthony Ostlund Baer & Louwagie PA, Joseph W Anthony, Anthony
Ostlund Baer & Louwagie PA & Daniel J Supalla, Briggs & Morgan,
PA.

Hometown Mortgage Services, Inc., Defendant, represented by Andrew
Steinfeld, American Morgage Law Group, P.C., Carol R M Moss,
Hellmuth & Johnson PLLC, Edward Page Allinson, American Mortgage
Law Group, P.C., Evans D Prieston, American Mortgage Law Group,
P.C., J Robert Keena, Hellmuth & Johnson PLLC, Jack V Valinoti,
American Mortgage Law Group, P.C., James W. Brody, American
Mortgage Law Group, Brooke D Anthony, Anthony Ostlund Baer &
Louwagie PA & Daniel J Supalla, Briggs & Morgan, PA.

Sierra Pacific Mortgage Company, Inc., Defendant, represented by
Amy L Schwartz, Lapp Libra Thomson Stoebner & Pusch, Chartered,
Jonathan M Jenkins, JENKINS KAYAYAN LLP, Lara Kayayan, Jenkins LLP,
Navdeep Singh, Jenkins Kayayan LLP, Richard T Thomson, Lapp Libra
Thomson Stoebner & Pusch, Chartered & Daniel J Supalla, Briggs &
Morgan, PA.

Branch Banking & Trust Co., Defendant, represented by Jason D
Evans, McGuire Woods LLP, Kelly G Laudon, Lindquist & Vennum PLLP,
Mark A Jacobson, Lindquist & Vennum PLLP, T Richmond McPherson,
III, McGuire Woods LLP, William C Mayberry, Mcguire Woods LLP &
Daniel J Supalla, Briggs & Morgan, PA.

T.J. Financial, Inc., Defendant, represented by Erin Sindberg
Porter, Greene Espel PLLP, Janine Wetzel Kimble, Greene Espel PLLP,
Jenny Gassman-Pines, Greene Espel PLLP, Philip R. Stein, Bilzin
Sumberg Baena Price & Axelrod LLP, Shalia M Sakona, Bilzin Sumberg
Baena Price & Axelrod LLP & Daniel J Supalla, Briggs & Morgan, PA.

Terrace Mortgage Company, Defendant, represented by Aaron P M Tady,
Coles Barton LLP, C J Schoenwetter, Bowman & Brooke LLP, John D
Sear, Bowman & Brooke LLP, Thomas M Barton, Coles Barton LLP,
Daniel J Supalla, Briggs & Morgan, PA & Rachelle A Velgersdyk,
Bowman & Brooke LLP.

Universal American Mortgage Company, LLC, and Standard Pacific
Mortgage, Inc., Defendants, represented by Enza G Boderone, Bilzin
Sumberg Baena Price & Axelrod LLP, Erin Sindberg Porter, Greene
Espel PLLP, Janine Wetzel Kimble, Greene Espel PLLP, Jenny
Gassman-Pines, Greene Espel PLLP, Philip R. Stein, Bilzin Sumberg
Baena Price & Axelrod LLP, Shalia M Sakona, Bilzin Sumberg Baena
Price & Axelrod LLP & Daniel J Supalla, Briggs & Morgan, PA.

Wells Fargo Bank, N.A., formerly known as Wachovia Mortgage
Corporation formerly known as First Union National Bank formerly
known as First Union Mortgage Corporation, Defendant, represented
by Amy L Schwartz, Lapp Libra Thomson Stoebner & Pusch, Chartered,
Eric P Tuttle, Munger, Tolles & Olson LLP,Gregory D Phillips,
Munger, Tolles & Olson, LLP, Marc T G Dworsky, Munger, Tolles &
Olson, LLP,Michael E Soloff, Munger, Tolles & Olson LLP, Richard C
St John, Munger Tolles & Olson, Richard T Thomson, Lapp Libra
Thomson Stoebner & Pusch, Chartered, Thomas Jacob, Wells Fargo Law
Department, Todd J Rosen, Munger Tolles & Olson LLP & Daniel J
Supalla, Briggs & Morgan, PA.

BMO Harris Bank, N.A., doing business as M&I Bank, FSB, Defendant,
represented by Amanda Raines Lawrence, BuckleySandler LLP, Brett J
Natarelli, BuckleySandler LLP, Daniel J Supalla, Briggs & Morgan,
PA, David A Schooler, Briggs & Morgan, PA, Fredrick S Levin,
BuckleySandler LLP, Kristopher Knabe, BuckleySandler LLP, Michael
A. Rome, BuckleySandler LLP & Richard E Gottlieb, BuckleySandler
LLP.

Wells Fargo Financial Retail Credit, Inc., formerly known as
Norwest Financial Acceptance, Inc ., Defendant, represented by Eric
P Tuttle, Munger, Tolles & Olson LLP, Gregory D Phillips, Munger,
Tolles & Olson, LLP, Kristopher Knabe, BuckleySandler LLP, Marc T G
Dworsky, Munger, Tolles & Olson, LLP,Michael E Soloff, Munger,
Tolles & Olson LLP, Richard C St John, Munger Tolles & Olson,
Richard T Thomson, Lapp Libra Thomson Stoebner & Pusch, Chartered,
Thomas Jacob, Wells Fargo Law Department, Todd J Rosen, Munger
Tolles & Olson LLP, Amy L Schwartz, Lapp Libra Thomson Stoebner &
Pusch, Chartered & Daniel J Supalla, Briggs & Morgan, PA.

National Bank of Kansas City, Defendant, represented by Nancy A
Temple, Katten & Temple LLP, Scott N Gilbert, Katten & Temple LLP,
Seth J S Leventhal, LEVENTHAL pllc & Daniel J Supalla, Briggs &
Morgan, PA.

iServe Residential Lending, LLC, Defendant, represented by Erin
Sindberg Porter, Greene Espel PLLP,Janine Wetzel Kimble, Greene
Espel PLLP, Jeanette M. Bazis, Greene Espel PLLP, Peter L Loh,
Gardere Wynne Sewell LLP, Randy D Gordon, Gardere Wynne Sewell LLP
& Daniel J Supalla, Briggs & Morgan, PA.

United Fidelity Funding Corp, Defendant, represented by Michael J
Steinlage, Larson King, LLP.

DB Structured Products, Inc., Defendant, represented by Danielle
Kantor, Simpson Thacher & Bartlett LLP, David J Woll, Simpson
Thacher & Bartlett LLP, Isaac M Rethy, Simpson Thacher & Bartlett
LLP,Jonathan Nussbaum, Simpson Thacher & Bartlett LLP, William A
McNab, Winthrop & Weinstine, PA,William T Russell, Jr, Simpson
Thacher & Bartlett LLP & Daniel J Supalla, Briggs & Morgan, PA.

MortgageIT, Inc., Defendant, represented by David J Woll, Simpson
Thacher & Bartlett LLP, Isaac M Rethy, Simpson Thacher & Bartlett
LLP, William A McNab, Winthrop & Weinstine, PA & Daniel J Supalla,
Briggs & Morgan, PA.

CTX Mortgage Company, LLC, Defendant, represented by Benjamin E
Gurstelle, Briggs & Morgan, PA,Paul J Hemming, Briggs & Morgan, PA
& Daniel J Supalla, Briggs & Morgan, PA.

Pulte Homes, Inc., and PulteGroup, Inc., Defendants, represented by
Benjamin E Gurstelle, Briggs & Morgan, PA & Paul J Hemming, Briggs
& Morgan, PA.

Home Loan Center, Inc., Defendant, represented by Andrew Steinfeld,
American Morgage Law Group, P.C., Carol R M Moss, Hellmuth &
Johnson PLLC, Edward Page Allinson, American Mortgage Law Group,
P.C., J Robert Keena, Hellmuth & Johnson PLLC, Jack V Valinoti,
American Mortgage Law Group, P.C.,James W. Brody, American Mortgage
Law Group, Kyle E. Thomason, Williams & Connolly LLP, Daniel J
Supalla, Briggs & Morgan, PA, Elizabeth V Kniffen, Zelle Hofmann
Voelbel & Mason LLP & Matthew Van Johnson, Williams & Connolly
LLP.

Decision One Mortgage Company, LLC, Defendant, represented by Beth
A Stewart, Williams & Connolly LLP, Daniel J Millea, Zelle Hofmann
Voelbel & Mason LLP, Elizabeth V Kniffen, Zelle Hofmann Voelbel &
Mason LLP, Jesse T Smallwood, Williams & Connolly LLP, Matthew V
Johnson, Williams & Connolly LLP,Noorudin Mahmood Ahmad, Williams &
Connolly LLP, R. Hackney Wiegmann, Williams & Connolly LLP &Daniel
J Supalla, Briggs & Morgan, PA.

HSBC Finance Corporation, Defendant, represented by David J
Stagman, Katten Muchin Rosenman LLP,Gregory S Korman, Katten Muchin
Rosenman LLP, Nicole M Moen, Fredrikson & Byron, PA, Stuart M
Richter, Katten Muchin Rosenman LLP, Todd A Wind, Fredrikson &
Byron, PA & Daniel J Supalla, Briggs & Morgan, PA.

E-Loan, Inc., Defendant, represented by Sharda R Kneen, Lindquist &
Vennum PLLP, Terrence J Fleming, Lindquist & Vennum PLLP, Brooke D
Anthony, Anthony Ostlund Baer & Louwagie PA & Daniel J Supalla,
Briggs & Morgan, PA.

Rescue Mortgage, Inc., Defendant, represented by Christopher R
Morris, Bassford Remele, PA, Daniel R Olson, Bassford Remele, PA,
Jeffrey D. Klobucar, Bassford Remele, PA, Mark D Covin, Bassford
Remele, PA & Daniel J Supalla, Briggs & Morgan, PA.

American Mortgage Network, LLC, formerly known as American Mortgage
Network, Inc. doing business as Vertice, Defendant, represented by
Daniel J Supalla, Briggs & Morgan, PA.

RBC Mortgage Company, Defendant, represented by Amanda Raines
Lawrence, BuckleySandler LLP,Brian Wegrzyn, BuckleySandler LLP,
Daniel J Supalla, Briggs & Morgan, PA, David A Schooler, Briggs &
Morgan, PA & Matthew P Previn, BuckleySandler LLP.

CMG Mortgage, Inc, Defendant, represented by Andrew Steinfeld,
American Morgage Law Group, P.C.,Carol R M Moss, Hellmuth & Johnson
PLLC, Edward Page Allinson, American Mortgage Law Group, P.C.,J
Robert Keena, Hellmuth & Johnson PLLC, Jack V Valinoti, American
Mortgage Law Group, P.C., James W. Brody, American Mortgage Law
Group & Daniel J Supalla, Briggs & Morgan, PA.

Synovus Mortgage Corp., Defendant, represented by Brent D Hitson,
Burr & Forman LLP, Daniel J Supalla, Briggs & Morgan, PA, Mark G
Schroeder, Briggs & Morgan, PA & Victor L Hayslip, Burr & Forman
LLP.

Honor Bank, formerly known as The Honor State Bank, Defendant,
represented by Garth G Gavenda, Anastasi Jellum, PA, Lindsay W
Cremona, Anastasi Jellum, P.A., Susan Jill Rice, Alward Fisher Rice
Rowe & Graf, PLC, T Christopher Stewart, Anastasi Jellum, PA &
Daniel J Supalla, Briggs & Morgan, PA.

Primary Capital Advisors LLC, Defendant, represented by Daniel J
Supalla, Briggs & Morgan, PA, John O'Shea Sullivan, Burr & Forman
LLP, Mark G Schroeder, Briggs & Morgan, PA & Tala Amirfazli, Burr &
Forman LLP.

PHH Mortgage Corp., Defendant, represented by David T Schultz,
Maslon LLP, David M Souders, Weiner Brodsky Kider PC, Nicole E
Narotzky, Maslon LLP, Tessa K Somers, Weiner Brodsky Kider PC &
Daniel J Supalla, Briggs & Morgan, PA.

Global Advisory Group, Inc., Defendant, represented by Lance T
Bonner, Lindquist & Vennum PLLP.

Freedom Mortgage Corporation, Defendant, represented by Enza G
Boderone, Bilzin Sumberg Baena Price & Axelrod LLP, Erin Sindberg
Porter, Greene Espel PLLP, Janine Wetzel Kimble, Greene Espel
PLLP,Jenny Gassman-Pines, Greene Espel PLLP, Philip R. Stein,
Bilzin Sumberg Baena Price & Axelrod LLP &Daniel J Supalla, Briggs
& Morgan, PA.

Monarch Bank, Defendant, represented by Beth A Jenson Prouty,
Bassford Remele, PA & Daniel J Supalla, Briggs & Morgan, PA.

First Mariner Bank, Defendant, represented by Joel L Perrell, Jr.,
Miles & Stockbridge P.C., Michael E Blumenfeld, Miles &Stockbridge
P.C., Nicole M Moen, Fredrikson & Byron, PA, Timothy M Hurley,
Miles & Stockbridge P.C., Todd A Wind, Fredrikson & Byron, PA &
Daniel J Supalla, Briggs & Morgan, PA.

Sierra Pacific Mortgage Company, Inc., Counter Claimant,
represented by Navdeep Singh, Jenkins Kayayan LLP.


RODNEY WAYNE WILSON: Settlement with Wife's Mother Denied
---------------------------------------------------------
Judge Robert L. Jones of the United States Bankruptcy Court for the
Northern District of Texas, Lubbock Division, in a memorandum
opinion dated June 17, 2015, denied the motion to approve
settlement agreement between Myrtle McDonald, the chapter 7 trustee
for Rodney Wayne Wilson and Donna Lynn Wilson, and Jonell
McCulloch.

On September 9, 2011, less than one month prior to filing for
bankruptcy, the Wilsons sold a house to McCulloch for $130,000.
McCulloch is the mother of Donna Wilson.  Throughout the Wilsons'
bankruptcy case, Custom Food Group, the largest unsecured creditor
of the Wilsons contended that the sale was a fraudulent transfer
and pushed for the avoidance of the transfer.

On September 25, 2014, the trustee initiated an adversary
proceeding by filing a complaint to avoid the transaction as a
fraudulent conveyance, contending that the Property has a value
of $189,216.  The trustee and Ms. McCulloch settled and agreed that
the trustee will receive $25,000, with mutual releases issued by
the parties.  CFG objected to the proposed settlement.

Judge Jones, in denying approval of the settlement agreement, ruled
that "the trustee's assumptions for the settlement are, with one
exception, fair within the context of the settlement and its
possible approval.  The one problem area, however, accounts for a
major part of the settlement.  The trustee, without explanation,
discounts the settlement amount by $130,000, the amount ostensibly
paid upon the transfer by McCulloch.  This is proper if McCulloch
acquired the property in good faith for the $130,000.  McCulloch is
Donna Wilson's mother.  Whether the $130,000 is fair value may be
subject to debate, but one can easily suspect that McCulloch knew
why the Wilsons were in need of money.  There is also reasonable
suspicion that the property will revert back to the Wilsons.  These
concerns are not relevant if McCulloch paid the $130,000 and such
amount was fair value for the property.  But if it is not, and if
she did not take the property for the $130,000 in good faith, she
is not entitled to the good faith defense, which is, in essence,
the justification for discounting the settlement by the $130,000.
The trustee offered no explanation or evidence on this important
point."

In declining approval, the Court is not saying that the trustee
must proceed to trial. The ruling is made without prejudice to
submission of another, or better justified, settlement proposal.

A copy of Judge Jones' Memorandum Opinion is available at
http://is.gd/yCq52Ufrom Leagle.com.

The case is IN RE: RODNEY WAYNE WILSON and DONNA LYNN WILSON,
Debtors, Case No. 11-50396-RLJ-7 (Bankr. N.D. Tex.).


SARATOGA RESOURCES: Receives NYSE MKT Delisting Notice
------------------------------------------------------
Saratoga Resources, Inc. on June 23 announced receipt of notice
that the staff of NYSE Regulation, Inc. has determined to commence
proceedings to delist the Company's common stock from NYSE MKT LLC.
Trading in the Company's common stock was suspended prior to the
open of the market on June 19, 2015.

NYSE MKT determined that the Company was no longer suitable for
listing in light of the filing by the Company and certain of its
subsidiaries of voluntary petitions for relief under Chapter 11 of
the Bankruptcy Code in the United States Bankruptcy Court for the
Western District of Louisiana and the resulting uncertainty as to
the timing and outcome of the bankruptcy process as well as the
ultimate effect of the process on the value of the Company's common
stock.

The Company does not presently anticipate exercising its right to
appeal the Staff's delisting determination.

The Company's common stock is presently quoted on the OTC Pink
market under the symbol "SARAQ".

                     About Saratoga Resources

Saratoga Resources -- http://www.saratogaresources.com-- is an
independent exploration and production company with offices in
Houston, Texas and Covington, Louisiana.  Principal holdings cover
approximately 51,500 gross/net acres, mostly held by production,
located in the transitional coastline and protected in-bay
environment on parish and state leases of south Louisiana and in
the shallow Gulf of Mexico Shelf.  Most of the company's large
drilling inventory has multiple pay objectives that range from as
shallow as 1,000 feet to the ultra-deep prospects below 20,000 feet
in water depths ranging from less than 10 feet to a maximum of
approximately 80 feet.


SUMMIT MATERIALS: S&P Affirms 'B+' CCR & Rates $650MM Loan 'BB'
---------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
corporate credit rating on Summit Materials LLC.  The outlook is
stable.

At the same time, S&P assigned its 'BB' issue-level rating to the
company's proposed $650 million term loan (two-notches above the
corporate credit rating).  The '1' recovery rating on the loan
reflects S&P's expectations of very high recovery (90% to 100%
range) in the event of a default.

Finally, S&P assigned its 'B' issue-level rating to the company's
proposed $275 million senior unsecured notes (one-notch above the
corporate credit rating), which will be issued by Summit Materials
LLC and Summit Materials Finance Corp.  The '5' recovery rating on
these notes reflects S&P's expectations of modest recovery (10% to
30%; higher end of range) in the event of a default.  S&P also
raised its issue-level rating on Summit's existing 10.5% senior
unsecured notes to 'B' from 'B-' due to its revision of the
recovery rating to '5' from '6'.

S&P expects the Davenport acquisition to further improve Summit's
EBITDA generation in 2015 and 2016.  Combined with the company's
anticipated continued appetite for acquisitions, organic growth,
and improved operating margins, S&P projects pro forma EBITDA for
2015 to exceed $250 million and 2015 leverage to be approximately
5.4x.  In addition, S&P expects interest coverage of approximately
3x and liquidity to remain adequate.

"Given the company's private equity ownership, we expect the
company to remain highly leveraged over the next 12 months, and any
positive cash flow from operations is likely to be used to help
fund additional acquisitions," said Standard & Poor's credit
analyst Pablo Garces.  "Our outlook assumes spending levels under
the Federal Highway Trust Fund will continue uninterrupted at
current levels over the next 12-24 months."

S&P considers a downgrade to be unlikely over the next 12 months
given its expectation that aggregates markets will continue to
slowly improve as states increase infrastructure spending and
residential construction continues its slow, if choppy,
improvement.  A downgrade could occur if the company materially
increased leverage on a pro forma basis to fund additional
acquisitions or if operating results unexpectedly deteriorated such
that pro forma interest coverage fell below 2x.  A long-term
failure to renew funding under the Federal Highway Program (MAP-21)
could also lead to a negative rating action, but S&P views this as
a low probability event.

S&P would consider raising its rating on Summit in the next 12
months if it is able to perform ahead of its operating performance
goals for 2015 and lowers its leverage level to below 5x on a
sustained basis.  S&P would also consider raising its rating if the
company's sponsor owners committed to selling their stake in the
company with their resulting interest representing less than 40% of
the company.  While S&P believes Summit will continue to pursue
debt-financed acquisitions as part of its strategy to expand the
scale and scope of its operations, an upgrade could occur if the
company permanently lowered debt leverage below 5x through an
additional public offering or other equity injection from its
owners.



SWEET BRIAR: S&P Lowers Rating on Refunding Bonds to 'CCC'
----------------------------------------------------------
Standard & Poor's Ratings Services has lowered its rating on
Amherst Industrial Development Authority, Va.'s series 2006
educational facilities revenue refunding bonds, issued for Sweet
Briar College to 'CCC' from 'B-'.  The outlook is negative.
Standard & Poor's removed the rating from CreditWatch, where it had
been placed with negative implications March 3, 2015.

"The rating action reflects our view that Sweet Briar's obligations
are vulnerable to nonpayment and depend upon favorable business,
financial, or economic conditions for the college to meet its
commitment on the bonds," said Standard & Poor's credit analyst
Sussan Corson.  In S&P's view, Sweet Briar is likely to face a
liquidity crisis and nonpayment in the near term should a covenant
default or other events of default under the documents trigger
principal acceleration on bonds outstanding.  Pending litigation
could continue to delay the college's timely access to temporarily
restricted assets that it might need to accommodate potential
principal acceleration.

In early March 2014, Sweet Briar announced it will close at the end
of the current academic year.  A recent state supreme court ruling
extended a temporary injunction that restricts the college from
using certain solicited donations until June 24 and referred
litigation back to a lower court.  Pending litigation seeks to stop
Sweet Briar from closing and appoint a special fiduciary to assess
and run college operations.  The ongoing litigation adds to
uncertainty related to the timing of a potential closure and the
college's ability to manage its remaining assets to meet its
liquidity covenants and contingent liquidity obligations.

As of the end of fiscal 2014, the college had almost $26 million of
debt, including about $9 million in series 2011 debt placed
directly with a bank (not rated) and $16.5 million of series 2006
bonds.  An unconditional general obligation pledge by Sweet Briar
secures all debt.  Payments on the 2011 bank debt are due
quarterly; principal and interest payments on the series 2006
bonds, Sept. 1; and interest payments, on March 1.  S&P understands
the college had made its regularly scheduled debt service payments
through March 2015.  However, the 2011 debt includes event of
default provisions that could trigger principal acceleration,
including the college's covenant to maintain liquid assets that
cover debt 1.1x at the end of each fiscal year.  Liquid assets
include cash and investments and temporarily restricted cash and
investments as then recorded on the college's balance sheet.  As of
audited June 30, 2014, cash, unrestricted endowment assets and
temporarily restricted endowment assets covered debt outstanding by
1.69x; however, Sweet Briar does not have estimates for June 30,
2015, to confirm its ability to meet this covenant.  Should the
ratio for fiscal 2015 fall below 1.1x, S&P understands the
simultaneous violation of this liquidity covenant and a bond rating
below 'BBB' would allow for acceleration of principal on the 2011
bonds after notice of default and a 30-day cure period.  Other bond
covenants require the college to maintain its existence as a
nonprofit corporation exempt from federal income taxation, maintain
its accreditation, and maintain and operate the facilities as a
nonprofit institution of higher education.  The appointment of a
receiver or similar official for Sweet Briar could also potentially
allow for principal acceleration under bond documents.  Given the
college's plans to cease operations as well as pending litigation
that seeks to appoint a special fiduciary, S&P believes other
events default under the documents could also trigger principal
acceleration on bonds outstanding. Furthermore, bond documents for
both the series 2006 and 2011 bonds include cross-default
provisions.

The negative outlook reflects S&P's view of the ongoing uncertainty
surrounding the availability of the college's unrestricted
resources on hand to make timely payments in the event of a
principal acceleration.  In the event covenant violations or other
events trigger principal acceleration provisions and Sweet Briar is
unable to meet its obligations on time, or if the college were to
enter into a distressed exchange, S&P would lower the rating.
Should the college successfully demonstrate that it has sufficient
available resources to meet contingent liquidity risk from
principal acceleration in the next 12 months and an event of
default is unlikely, S&P could revise the outlook to stable.



TRITON EMISSION: Reports $25K Net Income in First Quarter
---------------------------------------------------------
Triton Emission Solutions, Inc., filed its quarterly report on Form
10-Q, disclosing net income of $25,000 on $15,200 of revenues for
the three months ended March 31, 2015, compared with a net loss of
$10.6 million on $24,900 of revenues for the same period last
year.

The Company's balance sheet at March 31, 2015, showed $1.64 million
in total assets, $5.13 million in total liabilities, and a
stockholders' deficit of $3.48 million.

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

                        http://is.gd/sMqRfI

Triton Emission Solutions, Inc., develops and markets environmental
and pollution emission control solutions such as the DSOX-15 and
DSOX-20 fuel purification systems.  The company was founded on
March 2, 2000 and is headquartered in San Juan, Puerto Rico.

Dale Matheson Carr-Hilton Labonte LLP expressed substantial doubt
about the Company's ability to continue as a going concern citing
that the Company has incurred losses and further losses are
anticipated.  The Company requires additional funds to meet its
obligations and the costs of its operations.

The Company reported a net loss of $61.8 million on $39,300 in
revenue for the year ended Dec. 31, 2014, compared with a net loss
of $2.19 million on $321,000 of revenue in the same period last
year.

The Company's balance sheet at Dec. 31, 2014, showed $2.22 million
in total assets, $6 million in total liabilities, and stockholders'
deficit of $3.78 million.



ULURU INC: Has Insufficient Cash Beyond Second Quarter
------------------------------------------------------
ULURU Inc. filed its quarterly report on Form 10-Q, disclosing a
net loss of $738,000 on $295,000 of revenues for the three months
ended March 31, 2015, compared with a net loss of $868,000 on
$102,000 of revenues for the same period last year.

The Company's balance sheet at March 31, 2015, showed $4.91 million
in total assets, $2.81 million in total liabilities, and
stockholders' equity of $2.1 million.

The Company is unable to assert that its financial position is
sufficient to fund operations beyond the second quarter of 2015.
As a result, there is substantial doubt about its ability to
continue as a going concern beyond the second quarter of 2015.

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

                        http://is.gd/5C2PqZ

ULURU Inc. is a diversified specialty pharmaceutical company based
in Addison, Texas.  The Company develops and commercializes wound
care and mucoadhesive film products based on its Nanoflex(R) and
OraDisc(TM) technologies.



UNIVAR INC: S&P Affirms 'B+' CCR & Rates Term Loans 'BB-'
---------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
corporate credit rating on Illinois-based chemical distributor
Univar Inc.  The outlook is stable.

At the same time, S&P assigned its 'BB-' issue-level rating and '2'
recovery rating to the company's proposed $2.05 billion and EUR250
million term loans.  The '2' recovery rating indicates S&P's
expectation for substantial (higher end of the 70% to 90% range)
recovery in the event of a payment default.  S&P is also assigning
a 'B' issue-level rating and '5' recovery rating to the company's
proposed $400 million senior unsecured notes.  The '5' recovery
rating indicates S&P's expectation for modest (lower end of the 10%
to 30% range) recovery in the event of a payment default.

"The stable outlook reflects our expectation that the recent IPO
and subsequent debt reduction should allow the company to improve
credit measures to levels in line with our expectations in 2015,"
said Standard & Poor's credit analyst Daniel Krauss.

S&P's ratings, including its issue-level ratings, are based on
preliminary terms and conditions.  S&P expects the company to use
the majority of the proceeds from the debt issuance to repay
amounts outstanding under its existing U.S. dollar-based and
euro-based term loans.  S&P plans to withdraw the ratings on the
existing debt once it has been fully repaid.

S&P's assessment of Univar's business risk profile as
"satisfactory" reflects the company's position as one of the two
largest global players in the stable but fragmented chemicals
distribution industry.  S&P's assessment of Univar's financial risk
profile as "highly leveraged" reflects the company's still majority
private equity ownership and highly leveraged credit measures.  S&P
considers Univar's liquidity to be "strong," with expected cash
sources exceeding cash uses by more than 1.5x over the next 12
months.

S&P's base case assumes that the company will continue to generate
positive free cash flow and maintain adequate liquidity.  At the
current rating S&P would expect Univar to maintain FFO to debt of
10%-12% and debt to EBITDA in the 5x to 6x range.

S&P could consider raising the ratings modestly if it expects FFO
to debt to approach 15% and debt to EBITDA to remain below 5x on a
sustained basis.  This scenario could arise if revenue grows by
over 5% annually and EBITDA margins increased by over 100 basis
points.  S&P could also consider an upgrade if the company
completed secondary equity offerings and used the proceeds to
reduce debt leverage below 5x, and S&P expected it to remain at
that level.

While less likely, S&P could lower the ratings if adjusted EBITDA
margins decline by more than 100 basis points without offsetting
volume growth.  At that point, S&P expects the company's credit
measures would weaken, including debt to EBITDA deteriorating to
above 6.5x for an extended period.  S&P could also lower the
ratings if unexpected cash outlays or aggressive financial policy
decisions significantly reduce the company's liquidity or strain
its financial profile.



VERDUGO LLC: Court Approves Stipulation Dismissing Chapter 11 Case
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
approved a stipulation dismissing the Chapter 11 case of Verdugo
LLC.

The Debtor will pay to the Office of the U.S. Trustee fees in the
amount of $925.

The stipulation was entered among Todd C. Ringstad, Esq., at
Ringstad & Sanders LLP on behalf of the Debtor; James C. Bastian,
Jr., Esq., at Shulman Hodges & Bastian LLP on behalf of secured
creditor D & A. Semi-Annual Mortgage Fund, L.P.; and Kathryn M.S.
Catherwood, Esq., at Foley & Lardner LLP on behalf of secured
creditor Bank of Southern California.

                       About Verdugo, LLC

Irvine, California-based Verdugo, LLC, is a single asset real
estate.

The Company filed for a bankruptcy petition (Bank. C.D. Cal. Case
No. 15-10701) on Feb. 12, 2015.  James Hurn signed the petition as
vice president.  

Judge Scott C. Clarkson presides over the case.  Todd C. Ringstad,
Esq.
, at Ringstad & Sanders LLP represented the Debtor in its
restructuring effort.

The Debtor estimated assets at$10 million to $50 million and
liabilities at $1 million to $10 million.


WAYNE COUNTY, MI: State Launches Initial Fiscal Review
------------------------------------------------------
Reuters reported that Michigan will immediately begin a preliminary
review of the troubled finances of Wayne County, home to Detroit, a
state treasury spokesman said on June 19.

According to the report, Terry Stanton, the spokesman, said county
officials were notified of the action in a letter on June 18 from
State Treasurer Nick Khouri.  Wayne County Executive Warren Evans
on June 17 asked the state for a fiscal emergency declaration to
deal with a chronic budget deficit.

Under Michigan law, state officials have 30 days to complete the
review of Wayne County that began on June 19, Reuters noted.  The
initial findings will be presented to county officials before a
final report goes to Michigan's Local Emergency Financial
Assistance Loan Board, which will determine if an in-depth review
is warranted to determine if a financial emergency exists, the news
agency said.

                         *     *     *

The Troubled Company Reporter, on March 16, 2015, reported that
Fitch Ratings has downgraded the ratings for the following Wayne
County, Michigan bonds:

-- $186.3 million limited tax general obligation (LTGO) bonds
    issued by Wayne County to 'B' from 'BB-';

-- $51.3 million building authority (stadium) refunding bonds,
   series 2012 (Wayne County LTGO) issued by Detroit/Wayne County
   Stadium Authority to 'B' from 'BB-';

-- $203.5 million building authority bonds issued by Wayne County
   Building Authority to 'B' from 'BB-';

-- Wayne County unlimited tax general obligation (ULTGO) (implied)
   to 'B' from 'BB'.

On Feb. 10, 2015, the TCR reported that Moody's Investors Services
has downgraded to Ba3 from Baa3 the rating on the general
obligation limited tax (GOLT) debt of Wayne County, MI. The county
has a total of $695 million of long-term GOLT debt outstanding, of
which $336 million is rated by Moody's.  An additional $302
million
of short-term GOLT delinquent tax anticipation notes are
outstanding. The outlook remains negative.

The TCR, on Feb. 9, 2015, also reported that Fitch Ratings has
placed the following Wayne County ratings on Rating Watch
Negative:

  -- $190.9 million limited tax general obligation (LTGO) bonds
     issued by Wayne County 'BB-';

  -- $54.9 million building authority (stadium) refunding bonds,
     series 2012 (Wayne County LTGO) issued by Detroit/Wayne
     County Stadium Authority 'BB-';

  -- $207.2 million building authority bonds issued by Wayne
     County Building Authority 'BB-';

  -- Wayne County unlimited tax general obligation (ULTGO)
     (implied) 'BB'.


WEST COAST GROWERS: Wants to Make 1st 2014 Distribution to Growers
------------------------------------------------------------------
West Coast Growers, Inc., filed with the U.S. Bankruptcy Court for
the Eastern District of California a motion for order authorizing
the Debtor to make first interim distribution for 2014 growers.

A copy of the Motion is available for free at http://is.gd/XJdFvS

At a May 28 hearing on the Motion, the Court indicated a preference
for increasing the proposed distribution to the "underpaid" 2014
growers from the current $1 million to an amount closer to $2
million.  The Court also indicated that it was not
inclined to approve a distribution scheme that would offset
potentially avoidable transfers against payments that would
otherwise be made to the "underpaid" 2014 growers by way of the
Motion without resolution of each dispute with each 2014 grower.

The Court indicated that the amounts that would otherwise be due to
the "underpaid" 2014 growers, but for the "offset" due to potential
avoidable transfers, should be set aside pending resolution of each
dispute and possibly redistributed to the undisputed "underpaid"
2014 growers.

The Debtor has prepared detailed revised spreadsheets that indicate
proposed distributions to the 2014 growers assuming a total
distribution of just under $2 million.

The proposed amount of the initial distributions to the "underpaid"
2014 growers is $1,993,382.61.  But for the holdbacks due to
offsets based upon the potential recovery of avoidable transfers,
the Proposed Distribution will equalize the payments to date to all
of the 2014 growers.  The Debtor says it is prepared to make an
immediate distribution to those "underpaid" 2014 growers in the
amount of $1,256,397.30, while holding back $736,985.31 on account
of stated offsets due to the potential avoidable transfers.

The Debtor said in a response dated May 11, 2015, to growers'
support of motion for order authorizing the Debtor to make the
first interim distribution, that "while it is true CVCB allowed
about one-half million in checks to clear the bank post-petition,
the half million dollars was advanced by CVCB.  Because the funds
originated from CVCB, and not from the sale of growers' raisins, a
finding that the half million dollars is growers' collateral is not
supported by the facts or the producer's lien law."  A copy of the
response is available for free at http://is.gd/1Q3YU3

On May 13, 2015, the Committee of Unsecured Creditors objected to
the motion, saying that the Committee has serious questions
regarding the Debtor's intentions with this case, including the
Motion.  According to the Committee, "the Motion makes it clear to
the Committee that this case is being operated solely for the
benefit of the purported secured creditors of the Debtor.  If the
Debtor has its way in this case, it will liquidate substantially
all of its assets, pay its secured creditors with the sale
proceeds, and then hand over an administratively insolvent estate
to a Chapter 7 trustee.  The Committee believes that this Motion
will be followed by others."  A copy of the Committee's objection
is available for free at http://is.gd/FSPOil

Riley C. Walter, Esq., at Walter & Wilhelm Law Group, the attorney
for the growers, filed on May 27, 2015, a report saying that his
clients met with Gregory Powell, Scott Belden, Ronald Clifford,
Kurt Vote and Hagop Bedoyan to address several points.  Growers
suggest that a provision must be included that says that a grower
who cashes a distribution check understands and agrees that there
may be an effort to recover monies from that grower once further
investigation as to any recovery rights is made by the Debtor.  A
copy of the report is available for free at http://is.gd/7dcFNC

Mr. Walter can be reached at:

      Walter & Wilhelm Law Group
      A Professional Corporation
      205 East River Park Circle, Suite 410
      Fresno, CA 93720
      Tel: (559) 435-9800
      Fax: (559) 435-9868
      E-mail: rileywalter@W2LG.com

                      About West Coast Growers

West Coast Growers, Inc., a Kerman, California-based processor and
distributor of California raisins, sought Chapter 11 bankruptcy
protection (Bankr. E.D. Cal. Case No. 15-11079) on March 20, 2015,
in Fresno, California.  The case is assigned to Judge W. Richard
Lee.

Related entity Salwasser, Inc. (the 100% shareholder of WCG) also
sought bankruptcy protection on March 20, 2015 (Case No.
15-11080).  Charlotte Ellen Salwasser filed a Chapter 11 petition
(Case No. 15-10705) on Feb. 26, 2015.  Ms. Salwasser an husband
George Salwasser are the principals and 50% shareholders of
Salwasser, Inc.  Mr. Salwasser is the president of WCG, and Ms.
Salwasser is the vice president and secretary of WCG.

West Coast Growers disclosed, in its schedules, $12,091,374 in
assets and $59,616,599 in liabilities as of the Chapter 11 filing.
As reported by the Troubled Company Reporter on June 11, 2015, the
Company filed with Court an amendment to its schedules of assets
and liabilities, disclosing the same amount of total assets and
total liabilities of $60,426,210.

Hagop T. Bedoyan, Esq., Jacob L. Eaton, Esq., at Lisa A. Holder,
Esq., at Klein, Denatale, Goldner, Cooper, Rosenlieb & Kimball,
LLP, serve as West Coast Growers' attorneys.  Peter L. Fear, Esq.,
at Fear Law Group, P.C., represents Salwasser as counsel.

The U.S. Trustee for Region 17 appointed two creditors to serve on
the official committee of unsecured creditors.


WET SEAL: CIT Compromise Approval Sought
----------------------------------------
BankruptcyData reported that Wet Seal filed with the U.S.
Bankruptcy Court a motion to approve a compromise, under Rule 9019,
and motion, pursuant to Section 105(a) of the Bankruptcy Code and
Bankruptcy Rule 9019, for an order approving and authorizing the
stipulation approving remittance of letter of credit proceeds'
balance and the release of claims.

According to BData, the motion explains, "Following the Petition
Date, CIT drew on the Letter of Credit in full and received
$6,000,000...from the Bank. CIT has applied the LOC proceeds to the
payment of certain Factored Accounts which have not been charged
back to the Clients....After such application, $4,042,802.93 of the
LOC Proceeds remain....The Debtors have asserted that they have an
interest in the right to receive the LOC Proceeds
Balance....Pursuant to Section 9.5 of the APA, Mador assigned to
the Buyer all of Mador's right to receive certain assets under the
APA, including the Acquired Avoidance Actions and the LOC
Balance."

BData relates that under the stipulation, CIT will return to Mador
Lending the balance of the letter within seven business days of
Court order approving the motion.  The stipulation also releases
both the parties' from current or future claims against each other,
BData further relates.

                        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.


WILLIAM PARKER: Court Rules on Cross Motions for Summary Judgment
-----------------------------------------------------------------
Bankruptcy Judge Stephani W. Humrickhouse ruled on the cross
motions for summary judgment filed in the case captioned IN RE:
WILLIAM DOUGLAS PARKER, JR. DIANA LYNNE PARKER DEBTOR. CONAN R.
McCLAIN Plaintiff, v. WILLIAM DOUGLAS PARKER, JR. DIANA LYNN PARKER
Defendants, CASE NO. 12-03128-8-SWH, ADVERSARY PROCEEDING NO.
12-00238-8-SWH-AP (E.D.N.C., Raleigh Div.).

On September 17, 2012, Conan McClain initiated an adversary
proceeding objecting to the discharge of William Douglas Parker,
Jr. and Diana Lynne Parker under 11 U.S.C. Sections 727(a)(4)(A)
and (a)(2), alleging, respectively, that the Parkers "knowingly
omitted and/or intentionally misrepresented the true nature,
extent, and/or value of personal property," and "knowingly and
fraudulently transferred, removed, and concealed personal property,
including valuable coins and firearms" from his business office to
his personal residence in order to conceal such property from the
Bankruptcy Administrator.

On July 8, 2013, the Parkers moved for summary judgment as to all
of McClain's claims against them, and McClain moved for partial
summary judgment as to his claim under Section 727(a)(4)(A).

Judge Humrickhouse found summary judgment to be proper for Mr.
Parker as to the claim under Section 727(a)(2), there being no
genuine factual issue as to whether Mr. Parker acted with the
requisite intent.  Judge Humrickhouse held that it is only logical
that Mr. Parker would separate his personal property from the
company property prior to the Bankruptcy Administrator's visit.

As to the Section 727(a)(4)(A) claim, Judge Humrickhouse found
there to be no genuine issue of material fact as to whether the
Parkers' omission of certain items in their schedule and their
vague labeling and listing of the value of their military relic
collection as "unknown", was knowing and fraudulent, and concluded
that it was not.  The court reached this conclusion in light of
several considerations, among which was the fact that the Parkers
solicited help from McClain in preparing their schedules, in
addition to aid of counsel, evidencing that they acted carefully
and without reckless disregard.  Judge Humrickhouse also found it
pertinent that Mr. Parker never possessed any inventory of the
collection, and further, that he had never had it appraised.

McClain's motion for summary judgment was thus denied, while the
Parkers' motion as to McClain's claims was granted.

A copy of the May 22, 2015 order is available at
http://is.gd/f6GdJ5from Leagle.com.

          About William Douglas Jr. and Diana Lynne Parker

William Douglas Parker, Jr. and Diana Lynne Parker filed a chapter
11 petition (Bankr. E.D.N.C. Case No. 12-03128-8-SWH) on April 25,
2012.  The Parkers are represented in their cases by Samantha Y.
Moore, Esq.


                            *********

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 ***