TCR_Public/150625.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, June 25, 2015, Vol. 19, No. 176

                            Headlines

ADVANCE ENGINEERED: Claims Bar Date Set for July 16
AMERICAN EAGLE: Hires Baker & Hostetler as Counsel
AMERICAN FEDERATED: A.M. Best Lowers Issuer Credit Rating to 'bb'
AMERICAN SUPERCONDUCTOR: Incurs $48.7-Mil. Net Loss for Q1
AOXING PHARMACEUTICAL: May Sell up to $50 Million of Securities

ARCHDIOCESE OF MILWAUKEE: Park Bank Loan Maturity Extended to 2016
ATLANTIC CITY, NJ: Hires Former Spokeman of Detroit Manager
AVMED INC: A.M. Best Lowers Finc'l Strength Rating to 'B'
BALL CORP: Moody's Rates $1 Billion Sr. Secured Notes 'Ba1'
BALL CORP: S&P Assigns 'BB+' Rating on New $1BB Sr. Unsec. Notes

BEHAVIORAL SUPPORT: Amends List 20 Largest Unsecured Creditors
BEHAVIORAL SUPPORT: Files Schedules of Assets and Liabilities
BERNARD L. MADOFF: Bankruptcy Judge Approves Ariel Fund Settlement
BION ENVIRONMENTAL: Defines Objectives of Brand Initiative
BRUSH CREEK: Court Grants Community Banks' Motion for Stay Relief

C. WONDER: Plan Filing Exclusivity Extended to July 21
CAESARS ENTERTAINMENT: Panel Appeals Denial of Reconsideration Bid
CAESARS ENTERTAINMENT: Says Nat'l Retirement Fund Violated Stay
CAESARS ENTERTAINMENT: Signs Non-Disclosure Agreements
CALERES INC: Moody's Raises Corp. Family Rating to 'Ba3'

CAPITAL SAFETY: S&P Puts 'B' CCR on CreditWatch Positive
CENTRO IMAGENES: Case Summary & 20 Largest Unsecured Creditors
CHINA PRECISION: MSPC Quits as Auditors
CHINA RECYCLING: Receives NASDAQ Notice of Bid Price Deficiency
CNH INDUSTRIAL: S&P Assigns 'BB' Rating on New Sr. Unsecured Notes

COLT DEFENSE: S&P Discontinues 'D' CCR Following Bankruptcy
COLT HOLDING: Bondholders Buy $37-Mil. of Senior Debt
CONFIE SEGUROS: S&P Affirms 'B' CCR; Outlook Stable
CORINTHIAN COLLEGES: Court Sets Claims Bar Dates
CORINTHIAN COLLEGES: Files Schedules of Assets and Liabilities

CORINTHIAN COLLEGES: Government Opposes Bid to Freeze Loan
CORINTHIAN COLLEGES: Has Final Court Okay to Use Cash Collateral
CORINTHIAN COLLEGES: Proposes July 20 Claims Bar Date
CORINTHIAN COLLEGES: Reaches Settlement With ECC & Owais Hashmi
CORONADO MACHINE: Case Summary & 20 Largest Unsecured Creditors

CROSSFOOT ENERGY: Fights Frost Bank's Bid for Relief From Stay
CRYOPORT INC: Amends 1.9 Million Units Prospectus
CRYOPORT INC: Amends Preferred Stock Certificate of Designation
CYRUSONE INC: S&P Affirms 'B+' CCR, Off CreditWatch Negative
DAYTON SUPERIOR: S&P Assigns 'B' CCR, Outlook Stable

DIEGO PELLICER: Has Not Collected Any Revenue Since Inception
DRD TECHNOLOGIES: Has Until Sept. 16 to File Plan and Disclosures
DYNCORP INT'L: S&P Puts 'B-' CCR on CreditWatch Negative
EAST ALLEGHENY SCHOOL: Moody's Lowers GO Rating to Ba3; Outlook Neg
EDMENTUM INC: Moody's Withdraws 'Caa1' Corporate Family Rating

EDUCATION MANAGEMENT: Judge Sides with Bondholders in Dispute
EL PASO CHILDREN'S: Files Schedules of Assets and Liabilities
EVERGREEN ACQCO: Moody's Changes Outlook to Neg. & Affirms B3 CFR
EVOKE PHARMA: Funding Problems Raise Going Concern Doubt
FANNIE MAE & FREDDIE MAC: Fresh Report Challenges Need for Bailout

FAR-EASTERN SHIPPING: S&P Raises Corporate Credit Rating to 'B-'
FEDERAL RESOURCES: Files Amended Schedule of Personal Property
FINANCIAL HOLDINGS: Taps Stoll Keenon as Bankruptcy Counsel
FINANCIAL HOLDINGS: Wants to Limit Trading to Protect NOLs
FLY LEASING: Moody's Affirms B1 CFR & Changes Outlook to Positive

FRESH PRODUCE: Court Fixes July 27 as General Claims Bar Date
GENEX HOLDINGS: Moody's Retains B3 CFR After Incremental Term Loan
GREAT BASIN: Reports $71.2-Mil. Net Loss in First Quarter
GREEN EARTH: Jeffrey Loch Quits as Director
GREG DIPAOLO'S: Case Summary & 17 Largest Unsecured Creditors

HALCON RESOURCES: S&P Raises Corporate Credit Rating to 'B-'
HYDROCARB ENERGY: Incurs $3.4 Million Net Loss in Third Quarter
ISTAR FINC'L: Fitch Affirms Then Withdraws B Issuer Default Rating
LANTHEUS MEDICAL: Signs Supply Agreement with Triad Isotopes
LEHMAN BROTHERS: Says Related, Barclays "Manipulated" Swap Deals

LIGHTSQUARED INC: Gets Court Order Granting Protection to Lenders
LIME ENERGY: Stockholders Elect Board Members
LOCAL CORP: Case Summary & 20 Largest Unsecured Creditors
LOCAL CORP: Search Provider Hits Chapter 11 Bankruptcy
LOCAL CORP: Seeks Court Approval to Use Collateral

LYONDELL CHEMICAL: American Casualty Liable Under D&O Policy
MIDWAY GOLD: Proposes Squire as Primary Legal Counsel
MJ HOLDINGS: Reports $64K Net Loss in First Quarter
MOBILICITY: To Sell to Rogers for $355 Million
NEONODE INC: Appoints Thomas Eriksson as President

NEUROTROPE INC: Incurs $2.37-Mil. Net Loss in First Quarter
NGPL PIPECO: S&P Lowers ICR to 'CCC', Outlook Negative
NIRVANA INC: Files Schedules of Assets and Liabilities
OCEAN HARBOR: A.M. Best Alters 'bb+' ICR Outlook to Stable
OCI BEAUMONT: S&P Affirms 'B+' Rating on $450MM Term Loan

ONE SOURCE: Says No Cause for Appointment of Trustee
ORANGE COUNTY: S&P Raises Rating on 1998C Revenue Bonds to 'BB+'
ORLANDO GATEWAY: Wants Access to Lenders' Cash Collateral
PBF HOLDING: Moody's Changes Outlook to Pos. & Affirms 'Ba3' CFR
PENTON BUSINESS: S&P Revises Outlook to Positive & Affirms 'B' CCR

POW! ENTERTAINMENT: Reports $185K Net Income in First Quarter
PREMIER CONSTRUCTION: Bankruptcy Court's Fee Ruling Affirmed
PREMIER DENTAL: S&P Lowers CCR to 'CCC+', Outlook Negative
PROSPECT PARK: Judge Extends Deadline to Remove Suits to July 6
QUICKSILVER RESOURCES: 'Challenge' Period Extended to Aug. 14

QUICKSILVER RESOURCES: Files Schedules of Assets and Liabilities
QUICKSILVER RESOURCES: Gets More Time to Remove Suits
RADIOSHACK CORP: Gets Approval to Assign 6 Store Leases to Spring
RADIOSHACK CORP: Salus Capital Blocks Plan Filing Extension Bid
REICHHOLD HOLDINGS: Judge Extends Deadline to Remove Suits

RITE AID: Files Form 10-Q for Fiscal First Quarter
ROADRUNNER ENTERPRISES: Coldwell Banker OK'd as Real Estate Broker
ROADRUNNER ENTERPRISES: Motleys Auction Approved as Auctioneer
SALON MEDIA: Reports Strong Increase in Traffic in 2015
SEADRILL LTD: Bank Debt Trades at 20% Off

SEBRING SOFTWARE: Defaults on $20.8-Mil. in Notes and Term Loan
SHASTA ENTERPRISES: Trustee Demands Disclosures From Gen. Partners
SNOHOMISH COUNTY: Moody's Affirms B1 Rating on $17.2MM LTGO Bonds
SPJST: A.M. Best Alters 'bb' ICR Outlook to Positive
SS&C TECHNOLOGIES: Moody's Affirms B1 CFR & Alters Outlook to Pos.

STANDARD REGISTER: 400 Jobs Eliminated in Six Months
SWIFT ENERGY: S&P Assigns 'B+' Rating on $640MM Sr. Sec. Loan
TRANSGENOMIC INC: Plans to Launch Liquid Biopsy Cancer Test
UNITED SURGICAL: S&P Affirms 'B' CCR then Withdraws on Acquisition
VANTAGE DRILLING: S&P Lowers Corporate Credit Rating to 'CCC'

VERIFONE SYSTEMS: S&P Raises CCR to 'BB', Outlook Stable
VERMILLION INC: Stockholders Elect Eight Directors
WALTER ENERGY: S&P Lowers CCR to 'D' on Missed Interest Payment
WAYNE CHARTER: S&P Puts 'BB+' Rating on CreditWatch Negative
WBH ENERGY: Court Approves Employment of TenOaks Energy as Broker

WEIGHT WATCHERS: Moody's Retains B3 CFR Over Loans Prepayment
WELLICA INC: Case Summary & 6 Largest Unsecured Creditors
WILLBROS GROUP: Moody's Lowers CFR to Caa1, Outlook Negative
WILLIAMS COS: S&P Affirms 'BB+' CCR, Placed on CreditWatch Dev.
WINTRUST FINC'L: Fitch to Assign 'B+' Preferred Stock Rating

WKI HOLDING: S&P Revises Outlook to Stable & Affirms 'B' CCR
XINERGY CORP: Court Sets July 31, 2015 Gen. Claims Bar Date
XINERGY CORP: Files Schedules of Assets and Liabilities
XINERGY CORP: U.S. Trustee Forms Two-Member Creditors Committee
XINERGY LTD: Can Implement Non-Insider Key Employee Retention Plan

XINERGY LTD: Has Final Court OK to Pay Critical Vendors' Claims
[*] Fitch Says Payroll Gains Easing Bankruptcies
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

ADVANCE ENGINEERED: Claims Bar Date Set for July 16
---------------------------------------------------
The deadline for creditors of Advance Engineered Products Ltd. to
submit proofs of claim against the Company is 4:00 p.m. (Vancouver
Time) on July 16, 2015.

The order establishing the claims process granted by the Hon.
Justice N.G. Gabrielson on June 16, 2015, as well as all relevant
instructions and documents related to the claims process, including
the claim amount notice, list of claims and proof of claim form,
can be obtained from the monitor's webpage at
http://www.ey.com/ca/aeplor by contacting the monitor at:

Ernst & Young Inc.
700 West Georgia Street
P.O. Box 10101
Vancouver, British Columbia V7Y 1C7

English Inquiries:
Attention: Mark Quinlan
Tel: 604.648.3675
Fax: 604.899.3530
Email: mark.quinlan@ca.ey.com

French Inquiries:
Attention: Maxime Deschenes-Trottier
Tel: 514.879.2692
Fax: 604.899.3530
Email: maxime.deschenes-trottier@ca.ey.com

Based in Canada, Advance Engineered Products Ltd. --
http://www.advanceengineeredproducts.com-- makes all types of
truck trailers and semi-trailers, aircraft refuellers, bulk
handling equipment and dry-bulk I.S.O. containers, and vacuum tank
trucks and trailers.


AMERICAN EAGLE: Hires Baker & Hostetler as Counsel
--------------------------------------------------
American Eagle Energy Corporation and AMZG, Inc. seek authorization
from the U.S. Bankruptcy Court for the District of Colorado to
employ Baker & Hostetler LLP as counsel, nunc pro tunc to the May
8, 2015 petition date.

The Debtors require Baker & Hostetler to:

   (a) advise the Debtors of their rights and duties in these
       cases;

   (b) prepare motions and documents related to the sale of the
       Debtors' assets under section 363 of the Bankruptcy Code;

   (c) represent the Debtors in adversary proceedings and
       contested matters that may arise in connection with the
       Debtors' bankruptcy cases;

   (d) prepare pleadings related to these cases, including a
       disclosure statement and plan of reorganization;

   (e) negotiate with creditors in these cases with respect to
       treatment under the plan of reorganization;

   (f) solicit acceptances for the disclosure statement and plan
       of reorganization; and

   (g) take any and all other necessary action incident to the
       proper preservation and administration of these estates.

Prior to the commencement of the case, American Eagle paid an
advance fee to Baker & Hostetler of $350,000 for services adn
expenses to Baker & Hostetler in connection with these cases
("Retainer").  

The Debtors have previously paid Baker & Hostetler $566,084, on a
current basis for services rendered and costs incurred prior to the
petition date in connection with the Insolvency Representation.

Elizabeth A. Green, partner of Baker & Hostetler, 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.

Baker & Hostetler can be reached at:

       Elizabeth A. Green, Esq.
       BAKER & HOSTETLER LLP
       200 South Orange Ave.
       SunTrust Center, Suite 2300
       P.O. Box 112
       Orlando, FL 32801-3432
       Tel: (407) 649-4000
       Fax: (407) 841-0168
       E-mail: egreen@bakerlaw.com

                      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.


AMERICAN FEDERATED: A.M. Best Lowers Issuer Credit Rating to 'bb'
-----------------------------------------------------------------
A.M. Best Co. has downgraded the financial strength rating (FSR) to
B (Fair) from B++ (Good) and the issuer credit rating (ICR) to "bb"
from "bbb" of American Federated Insurance Company (AFIC), and the
FSR to B (Fair) from B+ (Good) and the ICR to "bb" from "bbb-" of
its sister company, American Federated Life Insurance Company
(AFLIC) (both domiciled in Flowood, MS) (known collectively as
American Federated Insurance Companies).  The outlook for all
ratings has been revised to negative from stable.

The American Federated Insurance Companies are indirect, wholly
owned subsidiaries of First Tower Finance Company LLC (First Tower
Finance), a multi-line specialty finance company.  Prospect Capital
Corporation [NASDAQ: PSEC], a publicly traded closed-end investment
company, indirectly owns an 80.05% majority interest in First Tower
Finance and its subsidiaries.

The rating action reflects significant financial leverage that has
resulted in a deficit in members' equity at First Tower Finance,
stemming from a 2014 transaction involving the return of First
Tower Finance's capital to its members.  The outlook reflects the
heavy financial leverage at First Tower Finance, an intermediate
holding company, and the potential for this to create pressure on
AFIC for dividends or increased expense sharing.

The ratings could come under pressure should the financial
condition of First Tower Finance weaken significantly, should the
company's underwriting and overall profitability measures
underperform its peers, should there be a material decline in
risk-adjusted capitalization or should Prospect Capital Corporation
fail to provide adequate support for First Tower Finance and its
subsidiaries.


AMERICAN SUPERCONDUCTOR: Incurs $48.7-Mil. Net Loss for Q1
----------------------------------------------------------
American Superconductor Corporation filed with the U.S. Securities
and Exchange Commission its annual report on Form 10-K for the
fiscal year ended March 31, 2015.

The Company reported a net loss of $48.7 million on $70.5 million
of revenues for the fiscal year ended March 31, 2015, compared with
a net loss of $56.3 million on $84.1 million of revenues in 2014.

The Company's balance sheet at Feb. 28, 2015, showed $134 million
in total assets, $53.9 million in total liabilities, and total
stockholders' equity of $79.9 million.  

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

                       http://is.gd/OmlByd
                          
Devens, Massachusetts-based American Superconductor Corporation is
a leading provider of megawatt-scale solutions that lower the cost
of wind power and enhance the performance of the power grid.  In
the wind power market, the Company enables manufacturers to field
highly competitive wind turbines through its advanced power
electronics products, engineering, and support services.  In the
power grid market, the Company enables electric utilities and
renewable energy project developers to connect, transmit and
distribute power through its transmission planning services and
power electronics and superconductor-based products.


AOXING PHARMACEUTICAL: May Sell up to $50 Million of Securities
---------------------------------------------------------------
Aoxing Pharmaceutical Company, Inc. filed a Form S-3 registration
statement with the Securities and Exchange Commission relating to
the proposed offering of any combination of common stock, preferred
stock, warrants, debt securities, either individually or in units,
with a total value of up to $50,000,000.

The Company may offer and sell these securities, from time to time,
to or through one or more underwriters, dealers and agents, or
directly to purchasers, on a continuous or delayed basis, at prices
and on other terms to be determined at the time of offering.

The Company's common stock is currently traded on the NYSE MKT
under the trading symbol "AXN."  On June 19, 2015, the last
reported sale price for the Company's common stock was $1.80.

A full-text copy of the Form S-3 prospectus is available at:

                       http://is.gd/nygcsl

                          About Aoxing

Aoxing Pharmaceutical Company, Inc., is a Jersey City, New Jersey-
based specialty pharmaceutical company.  The Company is engaged in
the development, production and distribution of pain-management
products, narcotics and other drug-relief medicine.

In its report on the consolidated financial statements for the
year ended June 30, 2014, BDO China Shu Lun Pan Certified Public
Accountants LLP expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company
continues to incur losses from operations, has negative cash flow
from operations and a working capital deficit.

The Company reported a net loss of $8.63 million for the fiscal
year ended June 30, 2014, compared to a net loss of $17.3 million
for the year ended June 30, 2013.


ARCHDIOCESE OF MILWAUKEE: Park Bank Loan Maturity Extended to 2016
------------------------------------------------------------------
Judge Susan V. Kelley of the U.S. Bankruptcy Court for the Eastern
District of Wisconsin authorized the Archdiocese of Milwaukee to
enter into an agreement extending the maturity of its term
indebtedness to Park Bank.

Daryl L. Diesing, Esq., at Whyte Hirschboek Dudek S.C., in
Milwaukee, Wisconsin, tells the Court that Park Bank has offered
the Debtor the opportunity to extend the maturity of its $4,390,000
note to the earlier of June 30, 2016, or the effective date of the
Debtor's plan of reorganization, while maintaining the current
non-default loan interest rate, a fixed rate of 5.25% per annum,
and continuing payment of accrued interest only.

Mr. Diesing further tells the Court that the Debtor wishes to
accept Park Bank's offer and extend the maturity of its debt to
Park Bank on the terms proposed.  He says the rate offered is
favorable to the Debtor, and the interest-only payment structure is
very helpful to the Debtor's cash flow.

Mr. Diesing adds that the Debtor's prepetition, fully-funded
secured term debt to Park Bank has matured, and the Debtor seeks
merely to extend the maturity of the Park Bank Debt, to leave
existing liens in place and to be allowed to pay accrued interest
monthly as it has done throughout the Chapter 11 case.

The Archdiocese of Milwaukee is represented by:

          Daryl L. Diesing, Esq.
          Bruce G. Arnold, Esq.
          Francis H. LoCoco, Esq.
          Lindsey M. Greenawald, Esq.
          WHYTE HIRSCHBOEK DUDEK S.C.
          555 East Wells Street, Suite 1900
          Milwaukee, WI 53202-3819
          Telephone: (414)978-5536
          Facsimile: (414)223-5000
          Email: ddiesing@whdlaw.com
                 barnold@whdlaw.com
                 flococo@whdlaw.com
                 lgreenawald@whdlaw.com

              About the Archdiocese of Milwaukee

The Diocese of Milwaukee was established on Nov. 28, 1843, and
was
elevated to an Archdiocese on Feb. 12, 1875, by Pope Pius IX.
The 
region served by the Archdiocese consists of 4,758 square
miles in
 southeast Wisconsin which includes counties Dodge, Fond
du Lac,
 Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan,
Walworth,
 Washington and Waukesha. There are 657,519 registered
Catholics in
 the Region.



The Catholic Archdiocese of Milwaukee, in Wisconsin, filed for

Chapter 11 bankruptcy protection (Bankr. E.D. Wis. Case
No.
11-20059) on Jan. 4, 2011, to address claims over sexual
abuse by
priests on minors.  

The Archdiocese became at
least the eighth Roman Catholic diocese
 in the U.S. to file for
bankruptcy to settle claims from current
 and former parishioners
who say they were sexually molested by 
priests.



Daryl L. Diesing, Esq., at Whyte Hirschboeck Dudek S.C., in

Milwaukee, Wisconsin, serves as the Archdiocese's counsel.
The
 Official Committee of Unsecured Creditors in the bankruptcy
case
has retained Pachulski Stang Ziehl & Jones LLP as its
counsel, and
 Howard, Solochek & Weber, S.C., as its local
counsel.

  The Archdiocese estimated assets and debts of $10
million to $50
 million in its Chapter 11 petition.



ATLANTIC CITY, NJ: Hires Former Spokeman of Detroit Manager
-----------------------------------------------------------
Romy Varghese, writing for Bloomberg News, reported that Bill
Nowling, who was the spokesman for Detroit's former emergency
manager Kevyn Orr during the city's record municipal bankruptcy,
has been hired by Atlantic City, New Jersey, as the seaside resort
deals with a fiscal crisis.

According to the report, Kevin Lavin, Atlantic City's
state-appointed emergency manager, recommended him, Nowling said on
June 23.  Bloomberg noted that Lavin is working on a blueprint to
address the city's $101 million deficit this year and to shore up
the finances of the gambling hub, where four of 12 casinos closed
last year.

                          *     *     *

The Troubled Company Reporter, on Jan. 23, 2015, citing the
Associated Press reported that New Jersey Gov. Chris Christie
named
an emergency manager for Atlantic City, leaving the door open for
the seaside gambling resort to file for bankruptcy if it can't get
its finances under control.  The Republican governor and likely
presidential candidate appointed a corporate turnaround specialist
as the city's emergency manager, and tabbed the man who led
Detroit
through its municipal bankruptcy as his assistant, the AP said.

The Troubled Company Reporter, on May 5, 2015, reported that
Standard & Poor's Ratings Services' 'BB' rating on Atlantic City,
N.J.'s general obligation (GO) debt remains on CreditWatch, where
it had been placed with negative implications on Jan. 27, 2015.
In
S&P's view, the city is unlikely to pursue bankruptcy as an
immediate course of action.

On Jan. 29, the TCR reported that Standard & Poor's Ratings
Services has lowered its general obligation rating on Atlantic
City, N.J., four notches to 'BB' from 'BBB+' and placed it on
CreditWatch with negative implications.

The day before, the TCR reported that Moody's Investors Service
downgraded Atlantic City's GO debt to Caa1 with a negative outlook
from Ba1, and on Jan. 27, the TCR said Moody's has downgraded
Atlantic City Municipal Utilities Authority's (NJ) water revenue
debt to B2 from Ba1, and assigned a negative outlook.


AVMED INC: A.M. Best Lowers Finc'l Strength Rating to 'B'
---------------------------------------------------------
A.M. Best Co. has downgraded the financial strength rating to B
(Fair) from B+ (Good) and the issuer credit rating to "bb+" from
"bbb-" of AvMed, Inc. (AvMed) (Miami, FL).  The outlook for both
ratings is stable.

The rating actions reflect a significant deterioration in AvMed's
absolute capital and a corresponding decline in its risk-adjusted
capital for year-end 2014, which were beyond A.M. Best's
expectations.  These reductions were driven by a $48.5 million net
loss resulting from unfavorable operating results, primarily in its
Medicare Advantage segment caused by the cumulative effect of
reductions in Centers for Medicare and Medicaid Services (CMS)
reimbursement.  Additionally, the company projects continued
operating losses and only a slight increase in absolute capital for
2015. However, this increase is contingent on certain one-time
strategic initiatives.  Although AvMed currently maintains an
adequate level of risk-adjusted capital, as measured by Best's
Capital Adequacy Ratio (BCAR), A.M. Best believes its risk-adjusted
capital may be subject to volatility in the near term as the
company pursues its capital bolstering initiatives, while at the
same time incurring expenses pertaining to strategic initiatives
aimed at returning the company to profitability.

AvMed's management is currently implementing initiatives to restore
profitability, including a Medicare Advantage performance
improvement action plan and actions to lower its operating cost
structure.

A future positive rating action may occur if AvMed restores and
sustains profitability, exhibits premium and administrative
services only (ASO) fee revenue growth and rebuilds absolute and
risk-adjusted capital.   Future negative rating actions could occur
if operating results, risk-adjusted capital or revenues continue to
decline, or if the company loses one or both of its two large
employer group customers.


BALL CORP: Moody's Rates $1 Billion Sr. Secured Notes 'Ba1'
-----------------------------------------------------------
Moody's Investors Service assigned a Ba1 rating to Ball
Corporation's new $1,000 million senior unsecured notes due June
2025 and concurrently placed the rating under review for downgrade.
Ball's Ba1 corporate family rating, Ba1-PD probability of default
rating, and all other instrument ratings remain under review for
downgrade.

The new $1,000 million senior unsecured notes will term out the
revolver borrowings that were used to redeem two issues of senior
unsecured notes on March 21, 2015 ($500 million senior unsecured
notes due March 2015 and $500 million senior unsecured notes due
September 2015).

Moody's placed Ball under review on Feb. 19, 2015 following the
company's announcement that it had offered to acquire Rexam PLC in
a cash and stock transaction.

Moody's took these rating actions for Ball Corporation:

   -- Assigned Ba1 LGD4 to the $1,000 million senior unsecured
      notes due June 2025
   -- Unchanged Ba1 corporate family rating
   -- Unchanged Ba1-PD probability of default rating
   -- Unchanged Ba1, LGD 4 senior secured credit facilities
   -- Unchanged Ba1, LGD4 senior unsecured notes

The ratings are under review for downgrade.

The ratings are subject to the receipt and review of the final
documentation.

RATINGS RATIONALE

The review for downgrade reflects the significant deterioration in
proforma credit metrics, the extended period of time for the
transaction to close and the uncertainties inherent in the
regulatory process.  Proforma LTM leverage is over 5.0 times
(excluding any divestitures and synergies), but there are
uncertainties regarding the leverage at close and the plan for
deleveraging.  Ball is expected to use all free cash flow for debt
reduction prior to the projected close of the transaction in the
first half of 2016 (as well as post acquisition until unadjusted
leverage declines to 3.5 times).  Additionally, the company is
expected to refinance certain debt at a lower interest rate.
Divestitures and synergies are also expected to have a material
impact on the ability of the combined entity to reduce leverage.
However, the regulatory process is lengthy and Ball will not know
the exact level of divestitures and synergies until the process is
complete.  Additionally, Rexam is allowed to accept other bids
until the process is complete.

Moody's review will focus on the final terms of the deal including
divestitures and synergies, proforma credit metrics at close, and
the plan to deleverage.  The corporate family rating downgrade, if
any, is expected to be no more than one notch.

Ball's Ba1 Corporate Family Rating reflects the company's stable
profitability, well-consolidated industry structure with
long-standing competitive equilibrium and scale.  The Ba1 rating
also reflects the company's high percentage of long-term contracts
with strong cost pass-through provisions, geographic
diversification and continued emphasis on innovation and product
diversification.

The ratings are constrained by Ball's aggressive financial policy,
acquisitiveness and concentration of sales.  The ratings are also
constrained, to a lesser extent, by an EBIT margin that is weak for
the rating category and a primarily commoditized product line.

The ratings could be downgraded should an acquisition, new
shareholder initiative or exogenous shock impair cash generation.
Deterioration in the operating and competitive environment or the
failure to refinance the existing credit facilities in a timely
manner and maintain adequate liquidity could also result in a
downgrade.  Specifically, the ratings could be downgraded if
adjusted total debt to EBITDA rises above 4.0 times, EBIT margins
decline below 9% and/or free cash flow to debt declines below the
high single digits.

Ball's financial aggressiveness is the primary impediment to an
upgrade.  An upgrade in ratings would require a commitment to
maintain less aggressive financial policies or significantly more
cushion within the contemplated higher rating category.
Additionally, an upgrade would require an improvement in the EBIT
margin and continued stability in the competitive and operating
environment.  Specifically, the rating could be upgraded if the
EBIT margin improved to the low teens, adjusted total debt to
EBITDA improved to 3.0 times or better and adjusted free cash flow
to debt remained above 10% on a sustainable basis.

Broomfield, Colorado-based Ball Corporation is a manufacturer of
metal packaging, primarily for beverages, foods and household
products, and a supplier of aerospace and other technologies and
services to government and commercial customers.  The packaging
business generates approximately 90% of revenue, with the aerospace
business contributing the balance.  Ball is one of the world's
largest beverage can producers, with leading positions in North
America and Europe.  The company reports in four segments including
metal beverage packaging Americas and Asia, metal beverage
packaging Europe, metal food and household products packaging
Americas and aerospace and technologies.  Revenue for the twelve
month period ended March 31, 2015 totaled approximately $8.5
billion.

The principal methodology used in this rating was Global Packaging
Manufacturers: Metal, Glass, and Plastic Containers published in
June 2009.  Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.



BALL CORP: S&P Assigns 'BB+' Rating on New $1BB Sr. Unsec. Notes
----------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its 'BB+'
issue-level rating (the same as the corporate credit rating) and
'3' recovery rating (at the lower end of the range) to Ball Corp.'s
proposed $1 billion senior unsecured notes due 2025.  The '3'
recovery rating indicates S&P's expectation of meaningful (50%-70%;
at the lower end of the range) recovery in the event of a payment
default.  All other ratings, including the 'BB+' corporate credit
rating, remain unchanged.  However, S&P notes that the '3' recovery
rating on the existing unsecured debt has moved to the lower half
of the 50%-70% range, largely due to a modest reduction in the
share of enterprise value attributed to the U.S. obligors and a
slight increase in local borrowings at foreign non-guarantor
subsidiaries.  The outlook is negative.

Ball intends to use the proceeds from the proposed notes offering
to repay borrowings under its $3 billion revolving facility due
February 2018.  In February of 2015, the company drew a substantial
amount under its new revolving credit facility to refinance its
$500 million 6.875% senior notes due September 2020 and its $500
million 5.75% senior notes due May 2021.  Upon completion of the
notes offering, the size of the revolving facility will be
permanently reduced by $750 million to $2.25 billion.

The ratings on Broomfield, Colo.-based Ball Corp. reflect its
"satisfactory" business risk profile as a leading global can
manufacturer with last-12-month sales of $8.5 billion and a
"significant" financial risk profile, as defined in S&P's criteria.
The company had $4.2 billion of adjusted debt as of March 31,
2015, including over $680 million of tax-effected unfunded
postretirement liabilities and capitalized operating leases.  This
resulted in an adjusted debt to EBITDA ratio of 3.6x and an
adjusted funds from operations (FFO) to debt ratio of 21%.
Following the proposed acquisition of Rexam PLC, which the company
expects to close in the first half of 2016, S&P expects Ball's FFO
to adjusted debt to initially weaken to the low- to
mid-teens-percentage area, but to then improve toward 20% during
the 12 to 18 month time frame the transaction.

RECOVERY ANALYSIS

Key analytical factors:

   -- S&P's analysis assumes a simulated default in 2020 and
      maintains an estimated gross value given default of $3.45
      billion.  S&P assumes U.S. entities represent slightly less
      than half of the value of the firm, and that there is no
      equity value in Ball's levered Brazilian joint venture.

   -- S&P's analysis reflects the lack of a priority claim on the
      value of the U.S. operations by the senior secured credit
      facility relative to the senior unsecured notes.  This is
      because all domestic entities are borrowers or guarantors on

      both classes of debt, but these entities do not pledge any
      operating assets as collateral.

   -- Despite the weak collateral package, the secured credit
      facility benefits from a pledge of 65% of the foreign
      equity.  Further, S&P assumes the revolving facility's size
      at default is reduced to $1.5 billion and is 85% drawn.  The

      decrease is linked to a required permanent $750 million
      decline in the facility in conjunction with this transaction

      and the fact that the facility is sized to enable Ball to
      repay $750 million in private notes at Rexam.  S&P assumes
      this capacity will remain unused unless the merger is
      consummated, at which time we will re-evaluate recovery
      prospects based on the expected pro forma debt structure of
      the combined entity.

   -- Using these assumptions, S&P estimates the collateral covers

      roughly 55% of the secured facility and that the lenders'
      pro rata share of the value available to unsecured creditors

      (the U.S. value and the 35% unpledged foreign equity value)
      increases the lenders' recovery to about 82%.

Simulated default and valuation assumptions
   -- Simulated year of default: 2020
   -- EBITDA at emergence: $575 mil.
   -- EBITDA multiple: 6x

Simplified waterfall
   -- Net EV (after 5% admin. costs): $3,278 mil.
   -- Valuation split in % (U.S./non-U.S./Brazilian JV): 49/46/5
   -- Collateral value available to secured creditors: $746 mil.
   -- Secured first-lien debt: $1,212 mil.
      --Recovery expectations: 70% to 90% (upper half of the
      range)
   -- Total value available to unsecured claims: $1,922 mil.
   -- Senior unsecured notes: $2,815 mil.
   -- Deficiency claim on the secured debt: $466 mil.
   -- Other pari passu unsecured claims in the U.S.: $150 mil.
      --Recovery expectations: meaningful 50% to 70% (lower half
      of the range) recovery.

Notes: All debt amounts above include six months of prepetition
interest.  S&P assumes accounts receivable securitizations total
about $86 million and treat these as priority claims.  S&P assumes
non-debt unsecured claims in the U.S. consist of underfunded
pension of roughly $150 million and that foreign obligations total
about $360 million, consisting primarily of pensions, plus various
local borrowings.

RATINGS LIST

Ball Corp.
Corporate credit rating            BB+/Negative/--

New Rating
Ball Corp.
Senior Unsecured
$1 bil notes due 2025             BB+
  Recovery rating                  3L        



BEHAVIORAL SUPPORT: Amends List 20 Largest Unsecured Creditors
--------------------------------------------------------------
Behavioral Support Services, Inc., filed with the U.S. Bankruptcy
Court for the Middle District of Florida amended list of creditors
holding 20 largest unsecured claims, to reflect creditors with wage
claims.

The list disclosed:

   Name of Creditor             Nature of Claim    Amount of Claim
   ----------------             ---------------    ---------------
Agency for Persons with          Contingency          $298,000
Disabilities                     Claim
400 S. Robinson Street,
Suite S430
Orlando, Fl 32801

Amerigroup                       Recoupment Due        $98,000

Ana Ocana                        Wages                  $7,280

Ana Rodriguez                    Wages                  $7,280

Benjamin Lopez                   Wages                  $6,486

Capital One Spark Visa Card      Office Credit Card    $46,140

Craig Norberg                    Wages                 $11,461

Danielle Borieo                  Wages                  $5,720

Esperanza Castrillon             Wages                  $7,288

Gabriel Carraquillo              Wages                  $6,445

Gina Hosmer                      Wages                  $5,843

Jennifer Rosario                 Wages                  $6,442

Johanel Maysonet                 Wages                  $6,180

Milestone Social Services, Inc.  Intercompany Loan      $50,000

Nidia Medina-Ruiz                Wages                   $6,015

Noemi Medina                     Wages                   $6,745

Patricia Bush                    Wages                   $6,050

Terrell Welch                    Wages                   $8,346

Vac Orlando, LLC                 Accounting/Database    $16,316
                                 Services

Yylian Perez                     Wages                   $5,750

                About Behavioral Support Services

Altamonte Springs, Florida-based Behavioral Support Services, Inc.,
is an operator of an out-patient mental health care facility.

The Company sought Chapter 11 protection (Bankr. M.D. Fla. Case No.
15-bk-04855) on June 2, 2015.  The Debtor disclosed $13,969,705 in
assets and $989,929 in liabilities as of the Chapter 11 filing.

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

The Debtor tapped Elizabeth A. Green, Esq., at Baker &
Hostetler LLP, as counsel.



BEHAVIORAL SUPPORT: Files Schedules of Assets and Liabilities
-------------------------------------------------------------
Behavioral Support Services, Inc., filed with the U.S. Bankruptcy
Court for the Middle District of Florida its schedules of assets
and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $13,969,705
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                        $0
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $471,063
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                          $518,865
                                 -----------      -----------
        Total                    $13,969,705         $989,929

A copy of the schedules is available for free at:

      http://bankrupt.com/misc/BehavioralSupport_24_SAL.pdf

                     About Behavioral Support Services

Altamonte Springs, Florida-based Behavioral Support Services, Inc.,
is an operator of an out-patient mental health care facility.

The Company sought Chapter 11 protection (Bankr. M.D. Fla. Case No.
15-bk-04855) on June 2, 2015.

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

The Debtor tapped Elizabeth A. Green, Esq., at Baker &
Hostetler LLP, as counsel.


BERNARD L. MADOFF: Bankruptcy Judge Approves Ariel Fund Settlement
------------------------------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reported that investment funds with ties to financier J. Ezra
Merkin won court approval to settle litigation related to the
millions of dollars they invested with Bernard Madoff.

According to the report, Judge Stuart M. Bernstein of the U.S.
Bankruptcy Court in Manhattan approved the settlement between
trustee Irving Picard and Ariel Fund Ltd. and Gabriel Capital LP,
so-called feeder funds that once pooled investors' cash and
invested it with Mr. Madoff.

                    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.


BION ENVIRONMENTAL: Defines Objectives of Brand Initiative
----------------------------------------------------------
Bion Environmental Technologies, Inc., announced it is on track to
submit its application for a sustainable brand certification
through the USDA Process Verified Program (PVP) in August/September
of this year.  Bion's objective is to secure a sustainable brand
that can be applied to both the livestock protein products (beef,
pork, dairy, poultry) produced on farms that implement Bion’s
technology, as well as the by-products refined in the process, such
as organic fertilizer and soil amendments.

Bion's sustainable brand will have third party verification for:

  - Nutrient reductions (nitrogen and phosphorus) that can have an
    adverse impact on water, soil and air quality.  Excess
    nutrients contaminate groundwater and cause fresh and coastal
    water algal blooms (some toxic), dead zones, loss of
    biodiversity, and pose health risks.

  - Substantial reductions of ammonia emissions that contribute to
    excess nutrients and are a precursor to the formation of PM2.5

   (small, inhalable particulate matter that poses health risks).

  - Substantial reductions of greenhouse gas (methane and nitrous
    oxide) emissions.  Livestock have been identified as one of
    the largest sources of greenhouse gases in the U.S. and the
    world.

  - Substantial reductions of pathogens in the waste stream that
    have been linked to both food borne illnesses, as well as
    increases in antibiotic-resistant strains of bacteria.

  - Water conservation: water discharged from Bion's systems will
    be essentially devoid of solids and nutrients and can be
    reused on-farm, land applied for aquifer recharge, and can   
    potentially be used for drinking water for the herd with
    additional treatment

The potential importance of Bion's branding initiative is
underscored by Whole Foods' new produce rating system, "Responsibly
Grown", which was reported in the New York Times and discussed on
NPR's Morning Edition on June 12, 2015.  According to NPR, "Matt
Rogers, a global produce coordinator for Whole Foods, said the new
system is a way to talk to farmers and customers about things that
the organic rules just don't touch, 'such as water conservation,
energy use in agriculture, farm worker welfare, waste
management'."

Whole Food's move reflects commitments to improve sustainability
from several other major retail food providers, including Walmart,
Costco and McDonalds.  In November 2014, the Global Roundtable of
Sustainable Beef held a summit where leadership (including
McDonalds, JBS, Cargill, and others) established five principles
for sustainable beef production, covering a wide variety of issues
from environmental impact to animal health and food safety.  

Bion sustainable brand will provide a 'backbone' that can be
enhanced by the producer to also reflect producer-specific claims,
such as source and traceability, husbandry practices and other food
safety and sustainability metrics.  The brand will contain a
barcode on the packaging that can be read with a smartphone,
providing the information to the consumer at the point-of-purchase.
Further, the data can be used to compare products based on
widely-accepted standards such as carbon or water footprint. Bion
intends to license its sustainable branding to users of its
technology platform.

Craig Scott, Bion's Communications Director, stated, "Food safety
and sustainability issues are closely related in the eyes of the
consumer and are of growing importance in the U.S. and worldwide.
Whole Foods' successful organic movement and its evolution to a
rating system that includes sustainability, along with recent
commitments from some of the largest food suppliers in the world,
indicate a shift in purchasing habits that support sustainability
and transparency in food production.  Bion's sustainable branding
will provide producers and processors with the ability to
differentiate themselves in the marketplace as a source of safe and
sustainable products."

                     About Bion Environmental

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

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

GHP Horwath, P.C., in Denver, Colorado, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2014, stating that the Company has not generated
significant revenue and has suffered recurring losses from
operations.


BRUSH CREEK: Court Grants Community Banks' Motion for Stay Relief
-----------------------------------------------------------------
The Hon. Michael E. Romero of the U.S. Bankruptcy Court for the
District of Colorado has granted the motion of Community Banks of
Colorado, a division of NBH Bank, N.A., for relief from stay to
foreclose on and take possession and control of Brush Creek
Airport, LLC's 91 real estate development lots located in the
Buckhorn Ranch subdivision, Gunnison County, Colorado.

As reported by the Troubled Company Reporter on Oct. 15, 2014,
Community Banks' relief request is anchored on the fact that the
Debtor is a single assets real estate debtor and has not filed a
plan of reorganization that has a reasonable possibility of being
confirmed.  The Debtor, according to Community Banks, does not
generate sufficient revenues to make interest payments to the bank
and that the Debtor has not demonstrated to generate sufficient
funds.

                    About Brush Creek Airport

Brush Creek Airport, LLC, is the real estate developer of the
Buckhorn Ranch Subdivision in unincorporated Gunnison County, near
Crested Butte, Colorado.  The Buckhorn Ranch Subdivision consists
of 249 lots and features a private airstrip and fishing and
recreational licenses for a portion of the Upper East River.  It
owns 97 improved lots in the Buckhorn Ranch Subdivision that are
available for construction, but upon which no homes have been
built.  It also owns the Upper East River Water Company, LLC, which
provides water taps for lots and water services for homes in the
subdivision.

Brush Creek Airport, LLC filed a Chapter 11 bankruptcy petition
(Bankr. D. Col. Case No. 14-14630) in Denver on April 10, 2014.
The Debtor estimated assets of $10 million to $50 million and debt
of $1 million to $10 million.

The Debtor has employed Sender Wasserman Wadsworth, P.C. as counsel
and 5280 Accounting Services, LLC, as accountants and bookkeepers.


C. WONDER: Plan Filing Exclusivity Extended to July 21
------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey extended
C. Wonder LLC, et al.'s exclusive periods to file a Chapter 11 plan
until July 21, 2015, and solicit acceptances for that plan  until
Sept. 19, 2015.

As reported in the Troubled Company Reporter on April 28, 2015,
Felice R. Yudkin, Esq., at Cole Schotz P.C., explained that dealing
with the sales of their assets and related issues well as making
the transition to Chapter 11 has made it difficult for the Debtors
to finalize a liquidating plan.  She revealed that the Debtors,
however, have already completed an initial draft of their plan of
orderly liquidation, which will provide for the distribution of the
net proceeds of the sales, the liquidation of any remaining assets,
including claims and causes of action, and the distribution of all
resulting proceeds to the Debtors' creditors in accordance with the
statutorily mandated priorities. The Debtors, however, may require
more time to finalize the plan, she avers.

                           GOB Sales

At its peak, in 2014, the Debtors had 29 locations across 13 states
including their flagship location in the Soho section of New York.

The Debtors, however, accumulated significant losses since their
inception due to under performance, reduced margins and lack of
liquidity due to their substantial leasehold obligations.  As a
result, the Debtors downsized the store operations.  As of the
Petition Date, the Debtors offered their products through their
four remaining U.S. retail stores.

Postpetition, the Debtors conducted going out of business sales at
their remaining retail locations.  Those sales concluded on or
about March 11, 2015, when the Debtors closed their last remaining
location.

Additionally, on March 19, 2015, the Court entered an order
authorizing the Debtors' sale of certain of their remaining assets
including their intellectual property to Burch Acquisition LLC on
March 31, 2015.

As a result of the Debtors' concluding their going out of
business sales and closing of the sale to Burch, the Debtors no
longer have any active business operations.

                         About C. Wonder

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

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

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

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

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

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



CAESARS ENTERTAINMENT: Panel Appeals Denial of Reconsideration Bid
------------------------------------------------------------------
The statutory unsecured claimholders' committee of Caesars
Entertainment Operating Company, Inc., et al., appeals from the
order issued by Judge A. Benjamin Goldgar of the U.S. Bankruptcy
Court for the Northern District of Illinois, Eastern Division,
denying the Committee's motion to reconsider the Court's order
motion to compel CEOC to consent to the involuntary Chapter 11
petition.

Judge Goldgar held that the motion for reconsideration did not
establish that the Court made any error of law or fact in its
decision, let alone a manifest one.

The Committee's Motion for Reconsideration enumerated two manifest
errors of law or fact:

   (1) If CEOC, as involuntary debtor, had not subsequently filed
its voluntary petition, the Ruling denying the UCC's motion to
apply Section 363 to CEOC would be correct because Section 303(f)
exempts involuntary debtors from complying with Section 363.  Thus,
if the Court was concerned its Ruling would apply to all
involuntary debtors, Section 303(f) eliminates that worry.  The
first manifest error of law or fact is the Ruling's exemption of
CEOC, as voluntary debtor, from complying with Section 363.  There
is no statutory exemption for voluntary debtors.  CEOC voluntarily
subjected itself to Section 363, which applies to all its property,
including its powers to defend against or to consent to the
Involuntary Petition.

   (2) The second manifest error is the Ruling's failure to account
for the fact that after an involuntary debtor files a voluntary
petition, both remedies for an improper involuntary petition
change.  Staying out of bankruptcy is no longer available, and
money damages for a wrongful petition, if any, are payable to the
estate and not to the debtor.  Thus, the only variable is the
impact on the estate.  This causes the Ruling to produce the
opposite results it was designed to produce, because the Ruling was
designed to protect the debtor that can no longer be the recipient
of any remedy.

The Committee is represented by:

          Martin J. Bienenstock, Esq.
          Judy G.Z. Liu, Esq.
          Philip M. Abelson, Esq.
          Vincent Indelicato, Esq.
          PROSKAUER ROSE LLP
          Eleven Times Square
          New York, NY 10036
          Tel: (212) 969-3000
          Fax: (212) 969-2900
          Email: mbienenstock@proskauer.com
                 jliu@proskauer.com
                 pabelson@proskauer.com
                 vindelicato@proskauer.com

             -- and --

          Mark K. Thomas, Esq.
          Jeff J. Marwil, Esq.
          Paul V. Possinger, Esq.
          Brandon W. Levitan, Esq.
          PROSKAUER ROSE LLP
          Three First National Plaza
          70 West Madison, Suite 3800
          Chicago, IL 60602
          Telephone: (312) 962-3550
          Facsimile: (312) 962-3551
          Email: mthomas@proskauer.com
                 jmarwil@proskauer.com
                 ppossinger@proskauer.com
                 blevitan@proskauer.com

CEOC is represented by:

          James H.M. Sprayregen, Esq.
          David R. Seligman, Esq.
          David J. Zott, Esq.
          Jeffrey J. Zeiger, Esq.
          KIRKLAND & ELLIS LLP
          KIRKLAND & ELLIS INTERNATIONAL LLP
          300 North LaSalle
          Chicago, IL 60654
          Telephone: (312) 862-2000
          Facsimile: (312) 862-2200
          Email: james.sprayregen@kirkland.com
                 david.seligman@kirkland.com
                 david.zott@kirkland.com
                 jeffrey.zeiger@kirkland.com

             -- and --

          Paul M. Basta, Esq.
          Nicole L. Greenblatt, Esq.
          KIRKLAND & ELLIS LLP
          KIRKLAND & ELLIS INTERNATIONAL LLP
          601 Lexington Avenue
          New York, NY 10022-4611
          Telephone: (212) 446-4800
          Facsimile: (212) 446-4900
          Email: paul.basta@kirkland.com
                 nicole.greenblatt@kirkland.com

                About Caesars Entertainment

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

re-branding to Caesar's in mid-November 2010.



In January 2015, Caesars Entertainment and subsidiary Caesars

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



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



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



Delaware Bankruptcy Judge Kevin Gross entered a ruling that the

bankruptcy proceedings will proceed in the U.S. Bankruptcy Court

for the Northern District of Illinois.  

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



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

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



                      *     *     *



The Troubled Company Reporter, on April 27, 2015, reported
that 
Fitch Ratings has affirmed and withdrawn the Issuer
Default
Ratings (IDR) and issue ratings of Caesars Entertainment
Operating Company (CEOC).  These actions follow CEOC's Chapter 11
filing on Jan. 15, 2015.  Accordingly, Fitch will no longer provide
ratings or analytical coverage for CEOC.  

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



CAESARS ENTERTAINMENT: Says Nat'l Retirement Fund Violated Stay
---------------------------------------------------------------
Caesars Entertainment Operating Company, Inc., et al., are accusing
the National Retirement Fund of violating the automatic stay.

The Debtors, which are seeking for court order enforcing the
automatic stay, voiding actions taken in violation of the automatic
stay, for contempt and sanctions against the NRF and the NRF
trustees, say in court filings dated May 11, 2015, that CEOC was
subject to an involuntary bankruptcy petition filed on Jan. 12,
2015, in the Delaware Bankruptcy Court, and that NRF was therefore
subject to the automatic stay on Jan. 12, 2015.  At that time, CEOC
was an employer under three separate collective bargaining
agreements and also under the relevant provisions of ERISA.  CEOC's
rights under those CBAs were assets of its bankruptcy estate on
Jan. 12.  Those CBAs, in turn, required CEOC and its subsidiaries,
if not CEOC itself, to contribute to the NRF.

A copy of the Debtors' May 11 court filings is available for free
at http://is.gd/qLtSkWand http://is.gd/ynQXWY.

According to the Debtors, NRF's purported expulsion violated the
automatic stay.  If the expulsion notices in fact expelled CEOC
together with its subsidiaries from the NRF, then this expulsion
would liquidate withdrawal liability against CEOC and would render
CEOC liable for that claim.

NRF asserts, among other things, that its expulsion notice did not
violate the automatic stay because CEOC was not a participating
employer in the NRF, and thus did not have any right impaired by
the NRF's disputed expulsion.  According to NRF, the expulsion
notices "were not specifically directed to CEOC, and, in any event,
the public interest in preserving the integrity of multiemployer
pension plans impliedly exempts the NRF's actions from the
automatic stay".  NRF argues that, even if the expulsion notices
violated the automatic stay as to CEOC, they remain effective as to
all other controlled group members.

The Debtors say that though NRF agreed by the standstill agreement
entered into by the parties on March 20, 2015, that "it would file
a dispositive motion to resolve the expulsion motion solely on
matters of law, the NRF failed to do so".  As called for under the
standstill agreement approved by the Bankruptcy Court, a discovery
schedule should therefore be set with respect to the factual
disputes raised by the expulsion objection to allow the parties and
the Bankruptcy Court to address the expulsion motion on a complete
record.  

The Debtors also claim that the quarterly payment demand violated
the automatic stay and is void.  The quarterly payment demand seeks
to asses an otherwise contingent claim against the Debtors' estates
and to exercise control over the Debtors' assets.  

The NRF argues that: (a) Section 362 does not apply to non-debtors;
and (b) the Seventh Circuit has held that a multi-employer pension
fund may always seek payment from non-debtor
control group members without violating the automatic stay.  The
NRF further argues that these matters can be resolved as a matter
of law without discovery or a trial by a finder of fact.

The Debtors, according to NRF, seek an unprecedented extension of
Section 362 to invalidate issuance of the withdrawal notice
delivered only to the employers -- none of whom were debtors at the
time -- and the payment demand delivered only to non-debtors in
order to shield non-debtors CEC and CERP from their statutory
obligations to pay withdrawal liability.  

NRF says in a court filing dated May 21, 2015, "The withdrawal
notice and the payment demand are valid as to all the entities on
which they were served, none of which were debtors at the time of
delivery.  The Debtors assert that both notices are void as to
non-debtors, but the Seventh Circuit's Slotky decision expressly
holds otherwise."

A copy of NRF's May 21 court filing is available for free at:

                      http://is.gd/pkbzND

NRF is represented by:

      Ronald Barliant, Esq.
      Goldberg Kohn Ltd.
      55 E. Monroe, Suite 3300
      Chicago, Illinois 60603
      Tel: (312) 201-4000
      Fax: (312) 332-2196

              and

      Ronald E. Richman, Esq.
      Lawrence V. Gelber, Esq.
      Alan R. Glickman, Esq.
      David M. Hillman, Esq.
      Schulte Roth & Zabel LLP
      919 Third Avenue
      New York, New York 10022
      Tel: (212) 756-2000
      Fax: (212) 593-5955

                   About Caesars Entertainment

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

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

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

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

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

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

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

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

                         *     *     *

The Troubled Company Reporter, on April 27, 2015, reported that
Fitch Ratings has affirmed and withdrawn the Issuer Default
Ratings (IDR) and issue ratings of Caesars Entertainment Operating
Company (CEOC).  These actions follow CEOC's Chapter 11 filing on
Jan. 15, 2015.  Accordingly, Fitch will no longer provide ratings
or analytical coverage for CEOC.

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


CAESARS ENTERTAINMENT: Signs Non-Disclosure Agreements
------------------------------------------------------
Caesars Entertainment Corporation and Caesars Entertainment
Operating Company, Inc., a majority owned subsidiary of CEC,
executed non-disclosure agreements with certain beneficial holders
of CEOC's 11.25% senior secured notes due 2017, CEOC's 8.5% senior
secured notes due 2020 and CEOC's 9% senior secured notes due 2020
that are parties to the Third Amended & Restated Restructuring
Support and Forbearance Agreement, dated as of Jan. 14, 2015, in
furtherance of their efforts to reach a mutual agreement with the
First Lien RSA Creditors regarding modifications to the RSA.

                    About Caesars Entertainment

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

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

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

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

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

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

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

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

                         *     *     *

The Troubled Company Reporter, on April 27, 2015, reported that
Fitch Ratings has affirmed and withdrawn the Issuer Default
Ratings (IDR) and issue ratings of Caesars Entertainment Operating
Company (CEOC).  These actions follow CEOC's Chapter 11 filing on
Jan. 15, 2015.  Accordingly, Fitch will no longer provide ratings
or analytical coverage for CEOC.

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


CALERES INC: Moody's Raises Corp. Family Rating to 'Ba3'
--------------------------------------------------------
Moody's Investors Service upgraded the Corporate Family Rating of
Caleres, Inc. ("Caleres", formerly known as Brown Shoe) to Ba3 from
B1, the Probability of Default Rating to Ba3-PD from B1-PD, and the
rating on the senior notes to B1 from B3.  These actions conclude
the review for upgrade initiated on June 16, 2015 upon the adoption
of Moody's updated approach for standard adjustments for operating
leases, which is explained in the cross-sector rating methodology
Financial Statement Adjustments in the Analysis of Non-Financial
Corporations, published on June 15, 2015.  Moody's also affirmed
Caleres' SGL-1 Speculative-Grade Liquidity rating.  The rating
outlook is stable.

The CFR upgrade reflects the approximately 1.3 times decline in
lease-adjusted debt/EBITDA from 4.3 times to 3.0 times (as of May
2, 2015) due to changes in Moody's approach for capitalizing
operating leases.  In addition, the upgrade incorporates the
company's good execution over the past several quarters, which has
resulted in steady growth and margin expansion.

Moody's took these rating actions on Caleres, Inc.:

  Corporate Family Rating, upgraded to Ba3 from B1
  Probability of Default Rating, upgraded to Ba3-PD from B1-PD
  $200 million senior unsecured notes due 2019, upgraded to
   B1 (LGD 5) from B3 (LGD 5)
  Speculative-Grade Liquidity rating, affirmed at SGL-1
   Outlook is stable

RATINGS RATIONALE

Caleres' Ba3 CFR reflects the company's recognized brands, customer
and geographic diversification, and very good liquidity. Caleres'
relatively good credit protection metrics, with debt/EBITDA of 3.0
times and EBITA/interest expense of 2.8 times (Moody's-adjusted, as
of May 2, 2015) position the CFR solidly in the Ba3 category.
However, the rating is constrained by Caleres' active interest in
acquisitions, including relatively large and mostly debt-financed
deals that could materially increase leverage.  The rating also
considers the company's low margins relative to specialty retail
peers, narrow product focus, and the sensitivity to shifts in
fashion and consumer discretionary spending characteristic of an
apparel retailer.

Caleres' SGL-1 liquidity rating reflects the company's very good
liquidity position supported by existing cash of $66 million (as of
5/2/15), Moody's projection for $50-70 million of free cash flow
over the next 12 months, and a lack of meaningful debt maturities
over the next two years.  An undrawn $600 million asset-based
revolver expiring in 2019 with a borrowing base expected to
fluctuate in the $480-530 million range also supports liquidity.
Moody's does not expect net revolver availability to fall below the
10% of the borrowing base level that would trigger the springing
1.0x fixed charge coverage ratio, and believes there is ample
headroom within the covenant.

The stable rating outlook reflects Moody's expectations for modest
revenue growth, sustained or improved profit margins, and a very
good liquidity profile.

The ratings could be upgraded if the company sustains sales growth
and expands EBITA margins towards 9%, while maintaining a very good
liquidity profile.  An upgrade would also require maintenance of
balanced financial policies, including a commitment to maintain
debt/EBITDA at or below 3.0 times and EBITA/interest expense at or
above 3.0 times.

The ratings could be lowered if recent positive trends in revenues
and EBITDA reverse, financial policy becomes more aggressive or
liquidity deteriorates.  Quantitatively, ratings could be lowered
if leverage remains above 4.0 times for an extended period.

Headquartered in St. Louis, Missouri, Caleres, Inc. is a retailer
and a wholesaler of footwear.  Its Famous Footwear chain, which
generates approximately 60% of total revenues, sells moderately
priced branded footwear targeting families through about 1,000
stores in the U.S. and Canada.  Through its Brand Portfolio segment
(approximately 40% of sales), Caleres designs and markets owned and
licensed footwear brands including Sam Edelman, Via Spiga, Franco
Sarto, Vince, Fergie, Naturalizer, Dr. Scholl's, LifeStride, Ryka,
and Carlos.  The brand portfolio also includes about 170 specialty
retail stores mostly under the Naturalizer brand in the US, Canada,
and China.  Revenues for the 12 months ended May 2, 2015 were
approximately $2.6 billion.



CAPITAL SAFETY: S&P Puts 'B' CCR on CreditWatch Positive
--------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings, including
its 'B' corporate credit rating, on Bloomington, Minn.-based fall
protection equipment provider Capital Safety Group S.ar.l. on
CreditWatch with positive implications.

"The rating action follows the announcement that higher-rated 3M
Co. plans to acquire Capital Safety for about $2.5 billion," said
Standard & Poor's credit analyst Svetlana Olsha.  "The transaction
is subject to regulatory approval," she added.

S&P expects that all of Capital Safety's outstanding senior secured
rated debt would be repaid as part of the transaction.

The current corporate credit rating on Capital Safety reflects the
company's "weak" business risk profile, characterized by a narrow
focus in a niche fall protection equipment market, partially offset
by its good market position, brand recognition, and a significant
proportion of recurring revenue.  S&P assess Capital Safety's
financial risk profile as "highly leveraged," as defined in S&P's
criteria, reflecting the sponsor's aggressive financial policy and
S&P's expectations that the company will maintain debt to EBITDA of
about 5x and funds from operations (FFO) to debt of less than 12%
over the next 12 months.

S&P will resolve the CreditWatch when the transaction closes.  S&P
expects to raise the ratings following the close of the
transaction, reflecting S&P's view that its credit quality would be
aligned with that of 3M, at which point S&P also expects to
subsequently withdraw its corporate credit and issue-level ratings
on the company.



CENTRO IMAGENES: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Centro Imagenes Del Noreste, Inc.
        PO Box 20160
        San Juan, PR 00928

Case No.: 15-04746

Nature of Business: Health Care

Chapter 11 Petition Date: June 26, 2015

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

Debtor's Counsel: Luis D Flores Gonzalez, Esq.
                  LUIS D FLORES GONZALEZ LAW OFFICE
                  80 Calle Georgetti Suite 202
                  San Juan, PR 00925-3624
                  Tel: 787 758-3606
                  Fax: 787-753-5317
                  Email: ldfglaw@coqui.net

Total Assets: $1 million

Total Liabilities: $5.7 million

The petition was signed by Rafael Emilio Torres Requena,
president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb15-04746.pdf


CHINA PRECISION: MSPC Quits as Auditors
---------------------------------------
The Board of Directors of China Precision Steel, Inc. has accepted
the resignation of MSPC, Certified Public Accountants and Advisors,
A Professional Corporation, as the Company's auditors on June 18,
2015, according to a document filed with the Securities and
Exchange Commission.

No accountant's report on the financial statements for the past
year contained an adverse opinion or a disclaimer of opinion or was
qualified or modified as to uncertainty, audit scope or accounting
principles, except for a going concern opinion expressing
substantial doubt about the ability of the Company to continue as a
going concern.

During the Company's most recent fiscal year (ended June 30, 2014)
and from July 1, 2014, to June 22, 2015, there were no
disagreements with MSPC on any matter of accounting principles or
practices, financial disclosure, or auditing scope or procedure,
the Company said in the filing.

The Company anticipates appointing successor auditors after its
ongoing restructuring.

                    About China Precision Steel

China Precision Steel -- http://chinaprecisionsteelinc.com/-- is
a niche precision steel processing company principally engaged in
the production and sale of high precision cold-rolled steel
products and provides value added services such as heat treatment
and cutting medium and high carbon hot-rolled steel strips. China
Precision Steel's high precision, ultra-thin, high strength (7.5
mm to 0.05 mm) cold-rolled steel products are mainly used in the
production of automotive components, food packaging materials, saw
blades, steel roofing and textile needles.  The Company sells to
manufacturers in the People's Republic of China as well as
overseas markets such as Nigeria, Ethiopia, Thailand and
Indonesia.  China Precision Steel was incorporated in 2002 and is
headquartered in Sheung Wan, Hong Kong.

China Precision reported a net loss of $37.5 million on
$47.2 million of sales revenues for the year ended June 30, 2014,
compared to a net loss of $68.9 million on $36.5 million of
sales revenues in 2013.

As of Dec. 31, 2014, the Company had $66.3 million in total assets,
$63.7 million in total liabilities, all current, and $2.61 million
in total stockholders' equity.

MSPC Certified Public Accountants and Advisors, A Professional
Corporation, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended
June 30, 2014.  The independent auditors noted that the Company
suffered very significant losses for the years ended June 30, 2014,
and 2013, respectively.  Additionally, the Company defaulted on
interest and principal repayments of bank borrowings that raise
substantial doubt about its ability to continue as a going
concern.


CHINA RECYCLING: Receives NASDAQ Notice of Bid Price Deficiency
---------------------------------------------------------------
China Recycling Energy Corp., an industrial waste-to-energy
solution provider in China, on June 23 disclosed that it received
notice from Nasdaq's Listing Qualifications Department indicating
that the closing bid price of the Company's common stock was below
the minimum requirement of US$1.00 per share for 30 consecutive
business days and the Company was therefore not in compliance with
NASDAQ listing rule 5450(a)(1).

Pursuant to listing rule 5810(c)(3)(A), the Company has 180
calendar days, or until December 16, 2015, to regain compliance
with the minimum bid price rule.  If, at any time during the
180-day period the closing bid price per share of the Company's
common stock is US$1.00 or above for a minimum of ten consecutive
business days, the Nasdaq staff will provide written confirmation
of compliance and this matter will be closed.

The Company is currently looking into various options available
with respect to regaining such compliance.  The notification letter
has no effect at this time on the listing of the Company's common
stock on The NASDAQ Global Market.  CREG's common stock will
continue to trade on The NASDAQ Global Market under the symbol
"CREG".

               About China Recycling Energy Corp.

China Recycling Energy Corp. (NASDAQ: CREG) is based in Xi'an,
China and provides environmentally friendly waste-to-energy
technologies to recycle industrial byproducts for steel mills,
cement factories and coke plants in China.  Byproducts include
heat, steam, pressure, and exhaust to generate large amounts of
lower-cost electricity and reduce the need for outside electrical
sources.  The Chinese government has adopted policies to encourage
the use of recycling technologies to optimize resource allocation
and reduce pollution.  Currently, recycled energy represents only
an estimated 1 percent of total energy consumption and this
renewable energy resource is viewed as a growth market due to
intensified environmental concerns and rising energy costs as the
Chinese economy continues to expand.  The management and
engineering teams have over 20 years of experience in industrial
energy recovery in China.


CNH INDUSTRIAL: S&P Assigns 'BB' Rating on New Sr. Unsecured Notes
------------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB' issue-level
rating to U.S.-based CNH Industrial Capital LLC's proposed senior
unsecured notes.  CNH Industrial Capital America LLC (unrated) and
New Holland Credit Co. LLC, each a wholly owned subsidiary of CNH
Industrial Capital, will guarantee the notes.  The company expects
to use the proceeds from the debt issuance for the purchase of
receivables, working capital, the repayment of maturing debt, or
other general corporate purposes.

The rating on the proposed senior unsecured notes reflects the
company's reliance on secured debt, primarily through asset-backed
security transactions, which S&P believes continues to encumber a
significant majority (62% at the end of 2014) of the assets on its
balance sheet and weakens the recovery prospects for the unsecured
debtholders in the event of a default.  Still, the ratio of secured
debt to assets has declined, the company has access to unsecured
committed credit lines, and we view the proposed notes issuance as
a consistent step toward achieving greater funding diversification.
This should gradually reduce reliance on the asset-backed
securities market, which S&P would consider a positive rating
factor over time.

CNH Industrial Capital, formerly known as CNH Capital LLC, is a
wholly owned subsidiary of Netherlands-based CNH Industrial N.V.
(CNH).  The company is a captive finance company that provides
financial services for CNHI's customers in the U.S. and Canada.

The 'BB+' corporate credit rating on CNH Industrial Capital
reflects the long-term corporate credit rating on CNH, its parent.
S&P views this subsidiary as a core holding of CNH, given its
strategic importance to the parent (financial services are a key
offering that facilitates the sale of CNHI's equipment), CNH's
ability to influence its actions, and S&P's expectation that the
parent would provide financial support to the company in times of
need.  There is a support agreement between the two companies, and
CNH Industrial Capital's receivables account for about half of the
total managed portfolio of CNH's financial services organization
globally.

RATING LIST

CNH Industrial Capital LLC
Corporate Credit Rating                  BB+/Stable/--

New Rating
CNH Industrial Capital LLC
Proposed senior unsecured notes*        BB

* The notes will be guaranteed by CNH Industrial Capital America
LLC
  and New Holland Credit Co. LLC.



COLT DEFENSE: S&P Discontinues 'D' CCR Following Bankruptcy
-----------------------------------------------------------
Standard & Poor's Ratings Services said that it has discontinued
all of its ratings, including its 'D' corporate credit rating, on
U.S. aerospace and defense company Colt Defense LLC.  Colt missed a
May 15, 2015, interest payment on its 8.75% unsecured notes due
November 2017 and is currently in Chapter 11 bankruptcy
proceedings.


COLT HOLDING: Bondholders Buy $37-Mil. of Senior Debt
-----------------------------------------------------
Matt Jarzemsky, writing for The Wall Street Journal, reported that
Colt Defense LLC bondholders have acquired $37 million worth of the
gun maker's senior debt, giving them more ammunition to fight for a
better deal in the company's bankruptcy, according to people
familiar with the matter.

The Journal related that Colt, whose more than 175-year history
includes the development of a revolver it calls "the gun that won
the West," is seeking to slash its roughly $358 million debt load
in Chapter 11 bankruptcy.  Bondholders that had been poised to
receive little in Colt's restructuring have opposed the process, in
part by challenging the company's plan for an early August auction
led by its private-equity backer, Sciens Capital Management LLC,
according to the Journal.

                            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.


CONFIE SEGUROS: S&P Affirms 'B' CCR; Outlook Stable
---------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'B'
long-term corporate credit rating on Confie Seguros Holding II Co.
The outlook is stable.  At the same time, S&P affirmed its 'B' debt
rating on the company's first-lien credit facilities, which include
a $90 million revolver and the upsized $554 million term loan.  The
recovery ratings on these debt issues are '3', which indicates that
lenders can expect a meaningful recovery in the lower half of the
50%-70% range in the event of a default.

S&P also affirmed its 'CCC+' debt rating on the company's upsized
second-lien $261.4 million term loan.  The recovery rating on this
debt issue is '6', which indicates S&P's expectation that lenders
could expect negligible recovery of 0%-10% in the event of a
default.

Confie has signed definitive agreements to acquire a Texas-based
managing general agent (MGA) specializing in nonstandard auto (NSA)
insurance in Texas and Georgia, and the MGAs of publicly listed NSA
insurer Affirmative Insurance Holdings Inc., which operates in
Texas, Louisiana, and Alabama.  This is very much part of Confie's
strategy of expanding geographically and increasing its scale in
the MGA space.  The company has completed seven acquisitions of
MGAs since 2012.  Every acquisition brings integration risk.  At
this time, S&P believes Confie has a proven track record of
successfully integrating its acquisitions, and S&P expects it to do
the same with these two planned transactions.

"The incremental debt increases Confie's leverage above our last
stated expectations, but it remains in the range for the current
rating," said Standard & Poor's credit analyst Hema Singh.
Pro-forma leverage will increase to 6.8x (on our basis) and EBITDA
interest coverage will be 2.4, compared to leverage of 6.4x and
EBITDA interest coverage of 2.2 for year-end 2014.
Post-transaction, the company will have total reported debt of $818
million, including the upsized $816 million term loans and $2.1
million in capital leases.  The term loans will have revised
financial covenants related to maximum leverage.

The corporate credit rating on Confie is based on a fair business
risk profile and a highly leveraged financial risk profile.  Confie
is the leading NSA independent agency in the U.S.  During the past
12-24 months, it has strengthened its market reach in four of the
five largest states (California, Florida, Georgia, and Texas) that
maintain a significant market for NSA policy insureds.

The stable outlook is based on S&P's expectation that the company
will successfully integrate the acquisitions, grow its revenue and
EBITDA base in 2015, and not exceed the current level of leverage.
S&P expects Confie to continue its growth plans and place its
retail outlets (from acquisitions or self-built agency stores) in
strategic locations.  Although S&P expects the company to produce
good free cash flow, it expects it to use available cash for its
growth strategy and acquisitions.

S&P could lower the ratings during the next 12 months if the
company does not meet its expectations, is not successful in its
acquisition strategy, or incurs additional debt not supported by
prospective operating earnings.  In addition, S&P may take a
negative rating action if the company does not maintain an adequate
cushion (15%) compared to its financial maintenance covenants.

It is unlikely that S&P will raise the rating in the next 12
months, given the company's very aggressive financial policies.



CORINTHIAN COLLEGES: Court Sets Claims Bar Dates
------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware on June 18,
2015, entered an order established these deadlines or any
individual or entity to file proofs of claim against Corinthian
Colleges, Inc., et al.

   * The general claims bar date is at least 30 days after the
services of the bar date notice; and

   * The governmental unit bar date is Nov. 2, at 5:00 p.m.

All proofs of claim must be actually received by the Debtors'
claims agent, Rust Consulting/Omni Bankruptcy, either by (i)
mailing the original proof of claim by regular mail to or (ii)
delivering the original proof of claim by overnight mail, courier
service, hand delivery or in person to:

         Corinthian Colleges, Inc. Claims Processing
         c/o Rust Consulting/Omni Bankruptcy
         5955 DeSoto Avenue, Suite 100
         Woodland Hills, CA 91367

                     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, to complete
an orderly wind down of its operations.  The cases are jointly
administered Case No. 15-10952.  

Judge Kevin J. Carey presides over the case.  Richards, Layton &
Finger, P.A., represents the Debtors in their restructuring
efforts; FTI Consulting, Inc., serves as restructuring advisors;
and Rust Consulting/Omni Bankruptcy serves as claims and noticing
agent.

Corinthian Colleges, Inc., disclosed $721,596,789 in assets and
$2,929,448,278 in liabilities as of the Chapter 11 filing.

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



CORINTHIAN COLLEGES: Files Schedules of Assets and Liabilities
--------------------------------------------------------------
Corinthian Colleges, Inc., filed with the U.S. Bankruptcy Court
for the District of Delaware its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property          $721,596,789
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $95,952,140
  E. Creditors Holding
     Unsecured Priority
     Claims                                           $54,291
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                    $2,833,441,847
                                 -----------      -----------
        Total                   $721,596,789   $2,929,448,278

A copy of the schedules is available for free at:

     http://bankrupt.com/misc/CORINTHIANCOLLEGES_290_sal.pdf

                     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, to complete
an orderly wind down of its operations.  The cases are jointly
administered Case No. 15-10952.  

Judge Kevin J. Carey presides over the case.  Richards, Layton &
Finger, P.A., represents the Debtors in their restructuring
efforts; FTI Consulting, Inc., serves as restructuring advisors;
and Rust Consulting/Omni Bankruptcy serves 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: Government Opposes Bid to Freeze Loan
----------------------------------------------------------
Stephanie Gleason, writing for Dow Jones' Daily Bankruptcy Review,
reported that the U.S. Department of Education is opposing a
request from the Corinthian Colleges Inc. student committee to
freeze all student debt collection efforts during Corinthian's
bankruptcy case, saying the motion shouldn't apply to federal
loans.

According to the report, broadly, the federal agency argued that
the halt requested by the student committee is beyond the scope of
what the bankruptcy code can do.  But more practically, the
Education Department noted, there is already a process whereby
students can halt collection efforts by the government, the report
related.

As previously reported by The Troubled Company Reporter, the
Committee of Student Creditors asked the U.S. Bankruptcy Court
for the District of Delaware to issue an order to stay all
entities
from any act to collect, assess or recover a claim or debt which
relates to funds provided pursuant to (i) Title IV of the Higher
Education Act of 1965, as amended, 20 U.S.C. Sections 1070 et
seq.;
and (ii) the Genesis, EducationPlus or other private student loan
programs for the purpose of paying the expenses necessary for
students to attend the Debtors' colleges.

The Committee tells the Court that they seek relief that will (i)
maintain the status quo -- relative debtor/creditor positions of
the debtors, the government, the students and other creditors;
(ii)
preserve the integrity of the Chapter 11 process; and (iii) avoid
a
multiplicity of litigating in various forums that will waste
resources that would be better utilized in addressing creditor
needs and claims.

The Committee's counsel, Christopher A. Ward, Esq., at Polsinelli
PC, in Wilmington, Delaware, alleges that the Debtors consistently
misled prospective and current students, the government, and
accreditation agencies about the value and successes of the
Debtors' programs.  He asserts that the automatic stay must be
applied or extended, as necessary, to maintain the status quo and
promote an efficient resolution of issues related to the Debtors'
obligations with respect to Corinthian Student Loan Debt.

            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.


CORINTHIAN COLLEGES: Has Final Court Okay to Use Cash Collateral
----------------------------------------------------------------
Corinthian Colleges, Inc., et al., obtained final authorization
from the Hon. Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware to use cash collateral and grant adequate
protection to prepetition secured parties.

As of the Petition Date, Corinthian has outstanding obligations of
$94.4 million in aggregate principal amount, in respect of
prepetition domestic loans, $8.9 million in aggregate principal
amount, in respect of domestic letters of credit issued, and
CAD$2.3 million in aggregate principal amount, in respect of
Canadian letters of credit issued under a credit agreement with
Bank of America, N.A., as administrative agent.

The Debtors, in exchange for cash collateral use, will grant the
prepetition secured parties adequate protection, including, inter
alia, replacement liens and superpriority administrative claims.

The Debtors have represented that they lack sufficient available
soures of working capital and financing to effectuate an orderly
wind-down of their remaining business.  The Debtors have further
represented that, without the use of cash collateral, the continued
operation of the Debtors' business and the preservation of the
value of the Debtors' remaining assets would not be possible.  The
Debtors and their estates would suffer immediate and irreparable
harm unless the Debtors are authorized to use cash collateral.

The prepetition secured parties have consented to the Debtors'
proposed cash collateral use.

A copy of the cash collateral budget is available for free at:

                        http://is.gd/hL8o0m

                     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: Proposes July 20 Claims Bar Date
-----------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will convene
a hearing on June 30, 2015 at 11:00 a.m., to consider Corinthian
Colleges, Inc., et al.'s motion to establish deadlines for filing
proofs of claim.

The Debtors propose that the Court set:

   a) July 20, 2015, as the deadline for all persons and entities
(excluding governmental units) holding a claim against any of the
Debtors that arose prior to the Petition Date (general bar date);

   b) Nov. 2, at 5:00 p.m., as the deadline for each governmental
unit to file a proofs of claim (governmental unit bar date).

All proofs of claim must be actually received by the Debtors'
claims agent, Rust Consulting/Omni Bankruptcy, either by (i)
mailing the original proof of claim by regular mail to or (ii)
delivering the original proof of claim by overnight mail, courier
service, hand delivery or in person to:

         Corinthian Colleges, Inc. Claims Processing
         c/o Rust Consulting/Omni Bankruptcy
         5955 DeSoto Avenue, Suite 100
         Woodland Hills, CA 91367

                     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, to complete an orderly
wind down of its operations.  The cases are jointly administered
Case No. 15-10952.  

Judge Kevin J. Carey presides over the case.  Richards, Layton &
Finger, P.A., represents the Debtors in their restructuring
efforts; FTI Consulting, Inc., serves as restructuring advisors;
and Rust Consulting/Omni Bankruptcy serves as claims and noticing
agent.

Corinthian Colleges, Inc., disclosed $721,596,789 in assets and
$2,929,448,278 in liabilities as of the Chapter 11 filing.

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



CORINTHIAN COLLEGES: Reaches Settlement With ECC & Owais Hashmi
---------------------------------------------------------------
The Hon. Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware has approved Corinthian Colleges, Inc., et
al.'s settlement agreement with ECC Acquisition Inc. and Owais
Hashmi.

A copy of the agreement is available for free at:

                       http://is.gd/3MqQY3

The Florida Metropolitan University, Inc., and Corinthian Colleges,
Inc., commenced an action in the Ontario Superior Court of Justice
against ECC Acquisition and Mr. Hashmi on Jan. 28, 2015, alleging,
among other things, breach of contract, breach of the duties to act
in good faith and honestly in the performance of a contract, breach
of confidentiality, and misrepresentation.

The defendants denied the allegations and filed a counterclaim to
the action.  The plaintiffs claim damages in an amount of at least
$500,000 against the defendants.

All parties have carried on settlement negotiations in order to
resolve all matters between them related to the action and the
counterclaim.  The parties agreed to resolve all matters between
them.

                     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.


CORONADO MACHINE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Coronado Machine, Inc.
        A New Mexico Corporation
        1300 and 1308 1st Street NW.
        Albuquerque, NM 87102

Case No.: 15-11674

Chapter 11 Petition Date: June 24, 2015

Court: United States Bankruptcy Court
       New Mexico (Albuquerque)

Debtor's Counsel: James T. Burns, Esq.
                  ALBUQUERQUE BUSINESS LAW, P.C.
                  1803 Rio Grande Blvd NW Suite B
                  Albuquerque, NM 87104
                  Tel: 505-246-2878
                  Fax: 505-246-0900
                  Email: james@abqbizlaw.com

Total Assets: $969,840

Total Liabilities: $428,412

The petition was signed by Dietmar F. Pruessmann, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nmb15-11674.pdf


CROSSFOOT ENERGY: Fights Frost Bank's Bid for Relief From Stay
--------------------------------------------------------------
Crossfoot Operating LLC asks the U.S. Bankruptcy Court for the
Northern District of Texas to deny Frost Bank's motion for relief
from automatic stay.

As reported by the Troubled Company Reporter on June 8, 2015, the
Bank is asking the Court to lift the automatic stay imposed in the
Debtor's Chapter 11 case in order to repossess or foreclose its
interest in the Debtor's collateral.  The Bank is the owner and
holder of a secured claim against the Debtor secured by a 2012
Chevrolet Suburban and a 2012 Ford F-250.  The collateral is valued
at $65,000.  In the initial cash collateral order, the monthly
payment to the Bank was in the budget.  In subsequent budgets the
line item for Frost was left blank.  The Bank has only received the
one postpetition payment.  Through April 29, 2015, the payments to
the Bank are past due $16,642.

The Debtor says that the Bank is not entitled to the relief from
stay.  According to the Debtor, the 2012 Chevrolet Suburban and
2012 Ford F-250 vehicles are essential to the Debtor's business
and, thus, are necessary to an effective reorganization.  The
Debtor claims that it has significant equity in the Vehicles and,
therefore, the Bank's interests are adequately protected by an
equity cushion.

                  About Crossfoot Energy

Based in Fort Worth, Texas, with a field office in Midland,
Texas, CrossFoot Energy, LLC, and its affiliates operate an oil
and gas company focused on the acquisition and improvement of
lower-risk, long live proven reserves. CrossFoot's primary
production occurs out of the Siluro-Devonian formation with
significant additional shallower reserves behind-pipe in the
Spraberry, Wolfcamp, Strawn, Penn Lime and Mississippian
formations.

CrossFoot Energy, LLC, and its affiliates sought Chapter 11
protection (Bankr. N.D. Tex. Case No. 14-44668) in Ft.
Worth, Texas on Nov. 20, 2014. The case is assigned to Judge
Russell F. Nelms.

Jeff P. Prostok, Esq., at Forshey & Prostok, LLP, in Ft. Worth,
Texas, serves as counsel to the Debtors. As of the Petition
Date, secured creditor Prosperity Bank is owed $12.1 million.


CRYOPORT INC: Amends 1.9 Million Units Prospectus
-------------------------------------------------
Cryoport, Inc., filed with the Securities and Exchange Commission
an amended Form S-1 registration statement relating to the firm
commitment public offering of 1,953,125 units.  The Company amended
the Registration Statement to delay its effective date.

Each unit consists of one share of the Company's common stock,
$0.001 par value, and one warrant to purchase one share of its
common stock at an exercise price of 110% of the public offering
price of one unit in this offering.  The common stock and warrants
are immediately separable and will be issued separately.  The
offering also includes the shares issuable from time to time upon
exercise of the warrants.

The Company's common stock is currently traded on the OTC Bulletin
Board under the symbol CYRX.  On May 19, 2015, the Company effected
a reverse stock split on a 12-to-1 basis.  On June 10, 2015, the
last reported sale price for the Company's common stock was $7.68
per share.  The Company received conditional approval to list its
common stock and warrants on the NASDAQ Capital Market under the
symbols "CYRX" and "CYRXW", respectively, subject to the
satisfaction of certain conditions and meeting all of the NASDAQ
Capital Market listing standards on the date of this offering. Such
listing, however, is not guaranteed.

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

                        http://is.gd/x8Ptvq

                           About Cryoport

Lake Forest, Calif.-based CryoPort, Inc. (OTC BB: CYRX) provides
comprehensive solutions for frozen cold chain logistics, primarily
in the life science industries.  Its solutions afford new and
reliable alternatives to currently existing products and services
utilized for bio-pharmaceuticals and biologics, including in-vitro
fertilization, cell lines, vaccines, tissue and other commodities
requiring a reliable frozen solution.

Cryoport reported a net loss attributable to common stockholders of
$12.2 million for the year ended March 31, 2015, compared to a net
loss attributable to common stockholders of $19.6 million for the
year ended March 31, 2014.  As of March 31, 2015, Cryoport had $2.6
million in total assets, $3.02 million in total liabilities and a
$416,000 total stockholders' deficit.

KMJ Corbin & Company LLP, in Costa Mesa, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended March 31, 2015, citing that the
Company has incurred recurring operating losses and has had
negative cash flows from operations since inception.  Although the
Company has cash and cash equivalents of $1.4 million at March 31,
2015, management has estimated that cash on hand, which include
proceeds from Class B convertible preferred stock received
subsequent to the fourth quarter of fiscal 2015, will only be
sufficient to allow the Company to continue its operations into the
third quarter of fiscal 2016.  These matters raise substantial
doubt about the Company's ability to continue as a going concern.


CRYOPORT INC: Amends Preferred Stock Certificate of Designation
---------------------------------------------------------------
Cryoport, Inc., submitted for filing with the Secretary of State of
the State of Nevada an Amendment to the Certificate of Designation
of the Company's Class A Preferred Stock and an Amendment to the
Certificate of Designation of the Company's Class B Preferred
Stock.  Pursuant to those amendments, the provision contained in
each Certificate of Designation relating to a mandatory exchange in
connection with a qualified public offering was modified such that
the mandatory exchange will be effective on the day that is six
months and one day after the closing of that qualified public
offering.

                           About Cryoport

Lake Forest, Calif.-based CryoPort, Inc. (OTC BB: CYRX) provides
comprehensive solutions for frozen cold chain logistics, primarily
in the life science industries.  Its solutions afford new and
reliable alternatives to currently existing products and services
utilized for bio-pharmaceuticals and biologics, including in-vitro
fertilization, cell lines, vaccines, tissue and other commodities
requiring a reliable frozen solution.

Cryoport reported a net loss attributable to common stockholders of
$12.2 million for the year ended March 31, 2015, compared to a net
loss attributable to common stockholders of $19.6 million for the
year ended March 31, 2014.  As of March 31, 2015, Cryoport had $2.6
million in total assets, $3.02 million in total liabilities and a
$416,000 total stockholders' deficit.

KMJ Corbin & Company LLP, in Costa Mesa, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended March 31, 2015, citing that the
Company has incurred recurring operating losses and has had
negative cash flows from operations since inception.  Although the
Company has cash and cash equivalents of $1.4 million at March 31,
2015, management has estimated that cash on hand, which include
proceeds from Class B convertible preferred stock received
subsequent to the fourth quarter of fiscal 2015, will only be
sufficient to allow the Company to continue its operations into the
third quarter of fiscal 2016.  These matters raise substantial
doubt about the Company's ability to continue as a going concern.


CYRUSONE INC: S&P Affirms 'B+' CCR, Off CreditWatch Negative
------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
corporate credit rating on Carrollton, Tex.-based CyrusOne Inc.,
and removed all ratings from CreditWatch, where S&P had originally
placed them with negative implications on April 28, 2015.

In addition, S&P affirmed its 'B+' issue-level rating, with a '3'
recovery rating, on the company's senior unsecured debt following
the company's announcement that it has exercised a $350 million
accordion feature under its senior unsecured credit facilities. The
'3' recovery rating indicates S&P's expectation for meaningful
(50%-70%; upper half of the range) recovery for lenders in the
event of a payment default.  S&P expects the recovery rating will
remain a '3' with the issuance of $100 million in additional debt
financing, although recovery prospects will decline to the lower
end of the 50%-70% range.

"The ratings affirmation follows CyrusOne's announcement that it
will fund 50% of its previously announced $400 million acquisition
of Cervalis LLC with equity, which is more conservative than our
original expectation," said Standard & Poor's credit analyst
Michael Altberg.

In total, the company plans to raise nearly $800 million ($850
million assuming underwriters exercise their options) in capital to
fund the acquisition, replenish liquidity sources for future
growth, and to acquire operating partnership units owned by
Cincinnati Bell Inc.  Pro forma for these transactions, S&P expects
adjusted leverage to increase to about 6x in 2015 from about 4x in
2014.  S&P's adjusted leverage includes financing liabilities under
FASB (Financial Accounting Standards Board) EITF 97-10 lease
accounting rules, where CyrusOne is deemed to be the owner of
facilities to which it is making structural improvements.

The rating outlook is stable, based on S&P's expectation for
continued healthy revenue growth and a relatively stable pricing
environment over the near term.  In addition, based on the proposed
transactions, S&P believes the company will have adequate liquidity
to fund growth initiatives and to fund negative discretionary cash
flow over the next few years.

S&P could lower the rating if operating performance weakens because
of competition or overexpansion, causing pricing pressure or a
decline in utilization that resulted in lower profit margins and
leverage above 7x on a sustained basis.  A downgrade could also
occur if liquidity became a significant risk because the company
was unwilling or unable to scale back capital spending in
conjunction with deteriorating operating trends and adverse credit
market conditions.

S&P could raise the rating if the company maintained leverage below
5x on a sustained basis and continued to successfully increase its
scale, diversify its customer vertical base, and manage churn and
utilization near their current levels.  Any upgrade would require
that the company remain well-capitalized and maintain adequate
liquidity despite capital spending and shareholder distributions.



DAYTON SUPERIOR: S&P Assigns 'B' CCR, Outlook Stable
----------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B'
corporate credit rating to Dayton Superior Corp.  The outlook is
stable.

At the same time, S&P assigned its 'B' issue-level rating (the same
as the corporate credit rating) and '3' recovery rating to Dayton's
proposed $185 million seven-year senior secured term loan.  The '3'
recovery rating on the notes indicates S&P's expectation for
meaningful (50% to 70%; upper end of the range) recovery in the
event of payment default.

"Dayton Superior's favorable market position and portfolio in
concrete products and solutions should result in meaningful revenue
and earnings as the markets it serves--infrastructure, industrial,
and institutional--experience continued growth," said Standard &
Poor's credit analyst Pablo Garces.  "We expect the company to
continue to generate adequate cash flows while discretionary cash
flow will be used to pay down its proposed term loan debt."

S&P could lower the rating if company owners assumed an aggressive
policy with regard to shareholder dividends.  S&P could also lower
the rating if weaker-than-expected market conditions, operational
problems, or higher debt to fund growth initiatives resulted in
constrained interest coverage such that Dayton's interest coverage
ratio fell to less than 2x.  Finally, a downgrade could occur if
liquidity deteriorated to a level S&P considered less than adequate
over the next 12 months.  S&P do not believe a rating downgrade is
likely in the next 12 months.

S&P sees the possibility of an upgrade of Dayton as unlikely over
the next 12 months.  S&P would consider an upgrade if debt to
EBITDA were maintained below 5x and FFO to debt improved to above
12%.  S&P would also have to gain confidence that the company's
private equity sponsors would take less aggressive financial
policies going forward.



DIEGO PELLICER: Has Not Collected Any Revenue Since Inception
-------------------------------------------------------------
Diego Pellicer Worldwide Inc. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing a
net loss of $3.03 million on $13,500 of total revenues for the
three months ended March 31, 2015, compared with a net loss of
$414,000 on $8,067 of total revenues for the same period in the
prior year.

The Company's balance sheet at March 31, 2015, showed $1.28 million
in total assets, $1.04 million in total liabilities, and
stockholders' equity of $243,000.

The Company has not yet collected any revenue since inception.  The
Company has incurred losses since inception and its current
liabilities exceed its current assets by $471,000 and has an
accumulated deficit of $8.21 million as of March 31, 2015.  On May
23, 2014, the Company received a subpoena from the United States
Department of Justice.  Depending on the extent to which the
Department of Justice pursues this matter, the Company may be
required to suspend or cease operations.  These factors among
others raise substantial doubt about the Company's ability to
continue as a going concern, according to the regulatory filing.

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

                       http://is.gd/SSpZ0s

Diego Pellicer Worldwide, Inc., was incorporated on Aug. 26, 2013,
under the laws of the State of Delaware.  The Company acquires and
leases real estate to licensed marijuana operators, including but
not limited to, providing complete turnkey growing space,
processing space, recreational and medical retail sales space and
related facilities to licensed marijuana growers, processors,
dispensary and recreational store operators.  Additionally, the
Company plans to explore ancillary opportunities in the regulated
marijuana industry as well as offering for wholesale distribution
branded non-marijuana clothing and accessories.



DRD TECHNOLOGIES: Has Until Sept. 16 to File Plan and Disclosures
-----------------------------------------------------------------
The Hon. Clifton R. Jessup Jr., of the U.S. Bankruptcy Court for
the Northern District of Alabama extended until Sept. 16, 2015, DRD
Technologies, Inc.'s exclusive periods to file a chapter 11 plan
and explanatory disclosure statement, or, in the alternative, a
motion to dismiss or convert the case.  The Court ordered that if
the Debtor failed to comply, the case will dismissed without
further notice of the Court.

                      About DRD Technologies

Huntsville, Alabama-based logistics provider DRD Technologies,
Inc., sought Chapter 11 protection (Bankr. N.D. Ala. Case No.
15-81366) on May 19, 2015, to halt efforts by creditor ServisFirst
Bank to appoint a receiver.

The Debtor tapped Stuart M. Maples, Esq., at Maples Law Firm, PC,
as counsel.

According to the docket, the Chapter 11 plan and disclosure
statement are due by Sept. 16, 2015.  The Debtor disclosed
$205,849,965 in assets and $4,289,268 in liabilities as of the
Chapter 11 filing.



DYNCORP INT'L: S&P Puts 'B-' CCR on CreditWatch Negative
--------------------------------------------------------
Standard & Poor's Ratings Services said that it has placed all of
its ratings, including its 'B-' corporate credit rating, on
U.S.-based DynCorp International Inc. (DI) on CreditWatch with
negative implications.

"The CreditWatch placement reflects the potential refinancing risks
associated with DI's upcoming debt maturities," said Standard &
Poor's credit analyst Chris Mooney.  The company's $187 million
term loan and undrawn $145 million revolver mature in July 2016
while its $455 million of unsecured notes mature in July 2017.  The
company faces difficult defense market conditions which have
resulted in lower margins, heightened competition, and the
possibility that it may lose a significant contract, INL Air Wing.
"While we believe that the company will generate enough cash to
meet its interest payments over the next 12 months, these factors
could make refinancing its upcoming debt maturities challenging,"
said Mr. Mooney.

S&P plans to resolve the CreditWatch listing following discussions
with management regarding prospects for future earnings and cash
generation, which S&P believes will affect DI's ability to
successfully refinance its upcoming maturities.  S&P could lower
its rating on the company, potentially by more than one notch, if
S&P believes that it will be unable to refinance its upcoming
maturities.  S&P will also take into account the risk that the
company could violate one of the financial covenants under its
credit facility and be unable to cure it or that DI could initiate
a transaction that S&P would view as a distressed exchange or
redemption over the next 12 months.



EAST ALLEGHENY SCHOOL: Moody's Lowers GO Rating to Ba3; Outlook Neg
-------------------------------------------------------------------
Moody's Investors Service has downgraded East Allegheny School
District, PA's general obligation rating to Ba3 from Baa3.
Concurrently, Moody's has downgraded the district's post-default
enhanced rating to Ba1 from Baa1.  The outlook on both ratings is
negative.  The rating actions affect approximately $20 million of
rated debt.

SUMMARY RATING RATIONALE

The downgrade of the underlying rating to Ba3 reflects the
district's negative fund balance and narrow liquidity, driven by a
continued inability to generate new revenues to balance its budget.
The district also faces rising expenditure pressures from pensions
and charter schools.  Recent performance has left the district with
no near-term financial flexibility, and significant challenges to
meeting its operational and contractual obligations. The rating
also reflects the district's modest tax base, below-average
socioeconomic indicators, and elevated debt burden with exposure to
swaps.

The downgrade of the enhanced rating to Ba1 reflects the
deterioration in the underlying credit.  Because of the
post-default nature of Pennsylvania's Act 150 intercept program
(the intercept program has no structural requirement for future
debt service payments to be made prior to default), the enhanced
rating begins with the underlying GO credit quality.  The enhanced
rating recognizes that state aid is sufficient to cover debt
service, and that any missed payments by the underlying are likely
to be swiftly and fully repaid by the state using the district's
revenues (appropriated state aid).

OUTLOOK

The negative outlooks on both the underlying and enhanced ratings
reflect our expectation of another material deficit in 2015, which
will further decrease fund balance, liquidity and flexibility.  The
outlook further incorporates the growing uncertainty surrounding
the district's ability to meet its obligations given a weak revenue
structure and absence of a concrete plan to restore structural
balance.

WHAT COULD MAKE THE RATING GO UP (removal of negative outlook)

   -- Return to structural balance leading to increased reserves
      and liquidity

   -- Material improvement in the district's tax base and
      socioeconomic indicators

WHAT COULD MAKE THE RATING GO DOWN

   -- Any material decrease in fund balance or liquidity over the
      next six months

   -- Continuation of structural imbalance resulting in further
      negative reserve position

   -- Failure to make contractually required payments such as debt

      service, pension or payroll

   -- Further deterioration in the tax base and decline in
      socioeconomic indicators

OBLIGOR PROFILE

East Allegheny School District is located in Allegheny County
approximately 15 miles east of Pittsburgh.

LEGAL SECURITY

The district's rated debt is secured by an unlimited property tax
pledge as debt service is exempt from Special Session Act 1
limitations

USE OF PROCEEDS

Not applicable.

PRINCIPAL METHODOLOGY

The principal methodology used in the underlying rating was US
Local Government General Obligation Debt published in January 2014.
The principal methodology used in the enhanced rating was State
Aid Intercept Programs and Financings: Pre and Post Default
published in July 2013.



EDMENTUM INC: Moody's Withdraws 'Caa1' Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service revised Edmentum Inc.'s probability of
default rating to Ca-PD/LD from Ca-PD.  All of the company's other
ratings are withdrawn.  Edmentum's probability of default rating
and outlook will be subsequently withdrawn.

RATINGS RATIONALE

On June 10, 2015, Edmentum announced that it had completed its
previously announced agreement with its lenders and equity sponsors
to recapitalize its balance sheet.  The recapitalization included
the pay-down of a portion of the company's first lien debt,
cancelation of the company's $140 million second lien debt, and a
commitment of $35 million of new capital from the company's
existing second lien lenders.  The second lien lenders own
substantially all of the equity in the company.

As previously indicated in April 2015, Moody's views the debt for
equity exchange as a distressed debt exchange.  As a result,
Moody's appended Edmentum's probability of default rating with an
"/LD" designation indicating limited default, which will be
withdrawn after three business days.

The recapitalization of Edmentum reduced funded debt by over $140
million and will lower the company's interest burden, improving the
company's leverage and liquidity profile.

Moody's will withdraw the ratings because it believes it has
insufficient or otherwise inadequate information to support the
maintenance of the ratings.

The rating was revised and will subsequently be withdrawn in three
days:

  Probability of Default Rating, to Ca-PD/LD from Ca-PD;

  Outlook, Negative.

The ratings were withdrawn:

  Corporate Family Rating, Caa1;

  First lien senior secured term loan due 2018, B2 (LGD3);

  First lien senior secured revolving credit facility due
  2017, B2 (LGD3);

  Second lien senior secured term loan due 2019, Ca (LGD5);

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

Headquartered in Bloomington, Minnesota, Edmentum, Inc. is a
provider of online instruction, curriculum management, assessment,
and related services to K-12 schools, community colleges, and other
educational institutions.



EDUCATION MANAGEMENT: Judge Sides with Bondholders in Dispute
-------------------------------------------------------------
Stephanie Gleason, writing for The Wall Street Journal, reported
that a federal judge ruled that Education Management Corp.'s debt
restructuring violated the rights of bondholders that didn't
support the deal, forcing the for-profit education company to
continue making payments on bonds owned by a hedge fund.

According to the Journal, Judge Katherine Polk Failla of the U.S.
District Court in New York said Education Management must continue
to make payments on $14 million in bonds held by holdout bondholder
Marblegate Asset Management LLC, finding the for-profit educator
"shall guarantee any past and future payments of principal and
interest to Marblegate" under a bond indenture.

                   About Education Management

Education Management LLC, an indirect subsidiary of Education
Management Corporation based in Pittsburgh, Pennsylvania, is one
of
the largest providers of private post-secondary education in North
America.  The company's education systems (The Art Institutes,
Argosy University, Brown Mackie Colleges and South University)
offer associate through doctorate degrees with approximately
120,000 students.  The company reported revenues of approximately
$2.4 billion for the twelve months ended March 31, 2014.

                           *    *     *

As reported by the TCR on Nov. 19, 2014, Standard & Poor's Ratings
Services said that it lowered its corporate credit rating on
Pittsburgh-based for-profit post-secondary school operator
Education Management LLC (EDMC) to 'D' from 'CC'.  The rating
actions follow the amendment to the company's credit facilities
that waived all financial covenants and substituted the originally
agreed upon cash interest and principal payments for a
payment-in-kind (PIK structure).

Moody's Investors Service has lowered the ratings of for-profit
post-secondary education company Education Management LLC,
including the Corporate Family Rating ("CFR") to Caa3 from Caa1,
and changed the outlook to negative from stable, the TCR reported
on May 6, 2014.  The ratings were downgraded in consideration of a
financial restructuring program that the company intends to
undertake, which Moody's believes could entail a distressed
exchange for debt.


EL PASO CHILDREN'S: Files Schedules of Assets and Liabilities
-------------------------------------------------------------
El Paso Children's Hospital Corporation filed with the U.S.
Bankruptcy Court for the Western District of Texas its schedules of
assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $34,907,119
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                   Unknown
  E. Creditors Holding
     Unsecured Priority
     Claims                                           Unknown
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                       $14,934,578
                                 -----------      -----------
        Total                    $34,907,119      $14,934,578

A copy of the schedules is available for free at

    http://bankrupt.com/misc/ElPasoChildrens_89_SAL.pdf

                About El Paso Children's Hospital

El Paso Children's Hospital Corporation operates the El Paso
Children's Hospital, the only not-for-profit children's hospital in
the El Paso region.  The hospital opened its doors in February
2012, features 122 private pediatric rooms, and is located at the
campus of El Paso County Hospital District dba  University Medical
Center of El Paso.

The Company sought Chapter 11 protection (Bankr. W.D. Tex. Case No.
15-30784) on May 19, 2015.  The case is assigned to Judge H.
Christopher Mott, following disputes with UMC.  The Debtor tapped
Jackson Walker LLP as counsel.



EVERGREEN ACQCO: Moody's Changes Outlook to Neg. & Affirms B3 CFR
-----------------------------------------------------------------
Moody's Investors Service changed Evergreen AcqCo 1 LP's ("Savers")
outlook to negative from stable.  Concurrently, Moody's affirmed
the company's B3 Corporate Family Rating, B3-PD Probability of
Default Rating, and B1 rating of the senior secured credit
facilities.

The change in outlook to negative reflects the risk that the
Minnesota Attorney General lawsuits against Savers and charity
partner Epilepsy Foundation of Minnesota may result in further
negative publicity, regulatory and legal challenges in Minnesota or
other states, or adverse changes in Savers' operations that lower
profitability.  Such changes include utilizing more supply from the
credential market or additional buy-sell arrangements with
charities, or reducing its overall revenue base at least
temporarily during the transition period.  In Moody's view, if
Savers does not resolve its regulatory challenges favorably, as
well as return to earnings growth in the near term, the company may
face challenges refinancing its 2017 revolver maturity in a timely
and economical manner.

Moody's took these rating actions on Evergreen AcqCo 1 LP:

   -- Corporate Family Rating, affirmed at B3
   -- Probability of Default Rating, affirmed at B3-PD
   -- $75 million senior secured revolver, affirmed at B1 (LGD3)
   -- $715 million term loan, affirmed at B1 (LGD3)
   -- Outlook changed to Negative from Stable

RATINGS RATIONALE

The B3 Corporate Family Rating reflects the company's weak
operating performance, which Moody's expects will result in
continuing interest coverage near 1.1 times EBITA/interest expense
and leverage in the mid-6 times in 2015.  In addition, the company
faces regulatory challenges from the Minnesota Attorney General
lawsuit, in connection with which the company has suspended
solicitation activities in the state.  While Savers generates less
than 5% of total revenues from Minnesota, and continues to operate
retail stores and a recycling business there, there is a risk that
the lawsuit could cause Savers to make changes to its operations,
or result in adverse changes to revenue or costs that lowers
profitability.  Further, while regulatory activity in other states
has been limited, there is risk for further losses of charity
partners and negative publicity.  Moody's expects the company to
have negative free cash flow in the next 12 months and less than
20% cushion under the springing fixed charge covenant, which may be
tested over the next 12-18 months.  The rating also considers
Savers' modest scale and the high degree of competition in the
off-price retail segment, mitigated by the low fashion risk and
limited seasonality of the business.  Moody's believes that if
current regulatory challenges are resolved, Savers' strong business
fundamentals, including its long-term earnings generation ability,
resilience throughout economic cycles, and favorable growth
prospects, would remain unchanged.

The ratings could be downgraded if the Minnesota AG lawsuit is not
resolved in a timely manner with limited damage to Savers, or if
the company encounters further regulatory challenges including from
other states.  The ratings could also be downgraded if earnings
growth does not resume by late 2015 or liquidity deteriorates for
any reason.  Quantitatively, debt/EBITDA (Moody's-adjusted) near 7
times or EBITA/ interest expense below 1 time could lead to a
downgrade.

The ratings could be upgraded if the company resumes strong
earnings growth, resolves its regulatory and legal challenges with
minimal effect on operations and profitability, and reduces
leverage.  Savers would also need to improve its liquidity position
including addressing its maturities and returning to positive free
cash flow.

The principal methodology used in these ratings was Global Retail
Industry published in June 2011.  Other methodologies used include
Loss Given Default for Speculative-Grade Non-Financial Companies in
the U.S., Canada and EMEA published in June 2009.

Headquartered in Bellevue, Washington, Evergreen AcqCo 1 LP
("Savers") operates roughly 335 for-profit thrift stores in the
United States, Canada, and Australia under the Savers, Value
Village, and Village des Valeurs banners.  Revenues for the twelve
months ended April 2015 were approximately $1.2 billion.  Since its
July 2012 LBO, Savers has been owned by Leonard Green & Partners,
L.P. and TPG Capital (approximately 45.5% in aggregate, split
evenly between the two) in partnership with Savers' chairman Thomas
Ellison (45.5%), and management and others (9%).



EVOKE PHARMA: Funding Problems Raise Going Concern Doubt
--------------------------------------------------------
Evoke Pharma, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $3.52 million on $nil of revenues for the
three months ended March 31, 2015, compared with a net loss of
$2.96 million on $nil of revenues for the same period last year.

The Company's balance sheet at March 31, 2015, showed $12.62
million in total assets, $6.19 million in total liabilities, and
stockholders' equity of $6.43 million.

The Company has incurred significant losses since inception and
have never been profitable, and it is possible it will never
achieve profitability.  Based upon currently expected level of
operating expenditures, the Company expect to be able to fund
operations through March 31, 2016.  This period could be shortened
if there are any significant increases in planned spending on the
EVK-001 development program or more rapid progress of ongoing Phase
3 clinical trial than anticipated.  There is no assurance that
other financing will be available when needed to allow the Company
to continue as a going concern.

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

                        http://is.gd/0N59vf

Solana Beach, Calif.-based Evoke Pharma, Inc., is a specialty
pharmaceutical company.  The Company is focused primarily on the
development of drugs to treat gastrointestinal (GI), disorders and
diseases.  The Company is developing EVK-001, a metoclopramide
nasal spray for the relief of symptoms associated with acute and
recurrent diabetic gastroparesis in women with diabetes mellitus.


FANNIE MAE & FREDDIE MAC: Fresh Report Challenges Need for Bailout
------------------------------------------------------------------
Trey Garrison at HousingWire.com reports that a forensic look at
the complex legerdemain that was federal government putting the
GSEs in conservatorship reveals some head-scratching accounting and
some three-card Monte-style mathematics.

Serving as a guide in all this is a new report that, admittedly,
comes from a source with skin in the game.  But they're willing to
put their names and professional reputations to it, and if whole
and accurate, is pretty damning for the Treasury Department.

The full 27-page report -- available at http://is.gd/T8Eqd0-- is
from two activist investors involved in the FannieGate controversy
with extensive legal and business backgrounds, Adam Spittler CPA,
MS and Mike Ciklin JD, MBA, MRE.

Here's what they say they've found.

For starters, they say, Treasury justified the conservatorship of
the GSEs via accounting gimmicks since they faced  no liquidity
issue at the time of the crisis and recession. They note that
Fannie Mae's Cash Net Income, adjusted for non-cash items, was
positive throughout entire crisis and recession.

In the third quarter of 2008, the financials should have looked
like an abattoir floor. But it didn't.

    Accounting net loss for the quarter was $29b. Loan loss reserve
for the quarter was $8.7b and FHFA forced Fannie to write off
$21.4b of Deferred Tax Asset.  To put this into perspective, the
FHFA basically said that in spite of 80 years of profitability,
after controlling the operations of Fannie Mae for exactly 23 days,
we feel that it will never, ever, return to profitability (ever)
and therefore the tax benefit will not be realized.

    The manufactured $29b loss "wow" factor was an attempt to
overcompensate for the shaky legal justification for the
conservatorship.

    Deduct the two massive -- and unnecessary as proven in later
years -- non cash expenses of $21.4b and $8.7b, Fannie's Cash Net
Income = 1.1b. Fannie, in the quarter it was taken into
conservatorship, generated $1.1b of cash.

Okay, you say, but what about liquidity?

Fannie Mae disclosed they held $36.3 billion cash in the bank on
September 30, 2008 with a maximum exposure of roughly $6 billion
per quarter. That was enough liquidity to survive over 18 months,
assuming it didn't bring in another dime.

Then there's the Treasury Draw Trigger.

    Treasury Draw Trigger =  "Net Assets" instead of cash, or fair
market value, or even current or quick ratio.  Why?

    Net Assets is by far the easiest measure to manipulate. With
it, Treasury can push reserves onto the balance sheet to impair
assets while liabilities remain untouched. In effect, it gives
Treasury the power to force the GSEs to take funding via aggressive
reserve assumptions.  If Treasury had picked a true cash or
liquidity measure to serve as the draw trigger, none of the draws
would ever have been required.

All of which leads to a number of questions the report poses.

    Q: "What company requires 116b [sic] of a bailout but then pays
it back in full within a 2 year period of 'returning; to
profitability?"

    A:  "One that non-cash based accounting gimmicks made it seem
like it needed in the first place; in terms of operations and cash,
it needed nothing."

In other words, these accounting gimmicks would made it seem that
HERA conservatorship criteria had been met, but it looks like, if
the authors are right, none of them were.

In fact, they argue quite compellingly that the Treasury could have
provided GSEs with line of credit and they never would have had to
borrow a penny.

    President Bush despised the GSEs (as did HP & TG) and they
wanted GSE balance sheets to help TBTF banks and support housing.

    Federal Accounting Standards Advisory Board (FASAB) Meeting
held from December 17-18 2008 [FASAB "serves the public interest by
improving federal financial reporting . . . essential for public
accountability"]

    Treasury's Deputy CFO, Director of Accounting, and a rep from
the Office of the Inspector General all appeared. No one from
FHFA.

Then they offer this bombshell -- the GSE bailout number of $200
billion “was not an accounting estimate . . . figure developed
from a public policy perspective . . . not developed based on any
type of analysis of future (i.e. cash flow) needs."

Buried in Fannie's 2009 10k was this:

"On April 1, 2009, we adopted (management [Treasury/FHFA] elected)
the FASB modified standard on the model for assessing
other-than-temporary impairments, applicable to existing and new
debt securities held by us as of April 1, 2009."

Prior accounting (Q1 09 and before) provided for exclusion of a
reserve if the Enterprise intended to hold the security until it
recovered.

The capital markets retained portfolio of Fannie Mae on December
31, 2008 was $765.1 billion. (Not a typo. Three-quarters of a
trillion dollars.)

    The US Treasury has required Fannie Mae to liquidate 100% of
its retained portfolio by 2018.

    By changing this accounting method, Treasury created an
unbelievably powerful mechanism to mercilessly write down the
retained portfolio. Treasury, racing to the scene, then forces the
GSEs to draw down funds to repair the phantom accounting damage it
engineered.

Then there's this.

"Within 15 business days following the determination of the
deficiency amount, if any, as of the end of each fiscal quarter of
Seller which ends on or before the Liquidation End Date. . . .
Purchaser shall provide such funds within 60 days of its receipt of
such request."

Ponder that one.   

The quarter end close in a normal company takes about three weeks,
right?

At day 21, the GSEs are able to determine if there is a deficiency
(negative net assets).  At which point they have 15 days to request
funds.  At this point, they are 5 weeks into the process, paying
payables every single day.

Then, Treasury has a full 60 days or 8 and a half weeks to fund. At
this point, the Bailout Funds are now available 13-1/2 weeks after
the date of determination for the supposed cash needs.

If, the authors argue, the GSEs were on the verge of diabetic coma
and they needed their insulin from Treasury, they'd be stone cold
dead.

So how did Fannie or Freddie keep operations going while they were
supposedly insolvent?

    The answer is simple: they were never insolvent . . . the smoke
and mirrors of accounting reserves were used to make them appear
that way.

    Loan loss and FMV reserves were materially overstated in 2008
and 2009 then reversed in 2013 and beyond.

    Rep and Warrant accounting was incorrect.  Never recorded any
receivable from the banks, only impaired the defaulted loan

If everything in the whole report -- and I urge you to look the
full thing, with its extensive research and footnoting -- then
there's an amazing amount of gymnastics you have to go through to
get to where the Treasury stands today.

The Deferred Tax Asset Reserve should have never been booked in the
first place.  Using the uncertainty of conservatorship as a reason
to impair while ignoring the previous 18 years of profitability is
unreasonable and incorrect.   On the flip side, ignoring the
uncertainty of conservatorship in 2013 to reverse the reserve is
cherry picking and also incorrect.

What they're saying -- and I can't find a good counterargument
otherwise -- is that the Treasury can't use the argument to its
advantage on the front end and ignore its existence on the back
end.

    Deloitte knew or should have known better . . . and they should
be on the hook for the cost of a full restatement. In addition, all
non-cash inflated reserves that were historically unnecessary must
be reversed and pushed back into Net Income. Deloitte simply has no
margin for error based on Treasury's imposed "Net Asset" trigger
for borrowing funds.

    R&W estimate was $50b, 41.5b above settlements to date, yet
another back door bailout of banks]

None of it adds up, and someone isn't being candid or straight.


FAR-EASTERN SHIPPING: S&P Raises Corporate Credit Rating to 'B-'
----------------------------------------------------------------
Standard & Poor's Ratings Services said that it has raised its
long-term corporate credit rating on Russian integrated logistics,
rail, and port operator Far-Eastern Shipping Co. PLC (FESCO) to
'B-' from 'SD' (selective default).

At the same time, S&P raised the issue ratings on the existing
senior secured notes to 'B-' from 'D' (default).  The recovery
ratings on these notes remain unchanged at '4' and continue to
reflect S&P's expectation of average (30%-50%) recovery in the
event of a conventional default.

The rating action follows the completion of a voluntary cash
buyback transaction of FESCO's outstanding senior secured notes due
in 2018 and 2020 as well as its 2017 Russian ruble bonds.  The
upgrade incorporates the impact of this transaction on FESCO's
credit profile.  S&P previously downgraded FESCO to 'SD' from 'CC'
when it made the buyback offer to investors, which S&P considered
to be a distressed exchange.

"We base our 'B-' rating on FESCO on our 'b' anchor for the
company, based on our assessment of its business risk profile as
being at the low end of "fair" and its financial risk profile as
"highly leveraged," as our criteria define these terms.  The rating
incorporates a one-notch downward adjustment to the anchor to
reflect our concerns that credit metrics and liquidity could
potentially deteriorate if FESCO's business environment does not
improve from mid-2015.  FESCO continues to face a challenging
macroeconomic and political environment, exacerbated by the
devaluation in the ruble, which has pressured earnings in relation
to the company's largely U.S. dollar-denominated debt," S&P said.

"We consider that FESCO is exposed to revenue volatility inherent
to the freight transportation industry, which is closely linked to
the commodity-dependent Russian economy and its trade with Asia,
including pressure on rates for its rail division.  Its business is
also constrained by the fact that the company is increasing the
contribution of its bunkering business to more than 20% of total
group revenue in the near future, which could affect its
consolidated profitability because bunkering has a low EBITDA
margin.  Our business risk profile assessment also incorporates the
currently weaker-than-expected operating environment owing to
FESCO's exposure to a high-risk country, currency devaluation, and
some competition.  That said, FESCO operates in one of the most
important maritime gateways in Russia, the Far Eastern Basin, and
it has a strong market position as an integrated rail, port, and
logistics operator, providing services along the transportation
chain.  Additional considerations include the company's revenue
diversification--the result of its various businesses and large
customer base," S&P noted.

S&P's base-case scenario assumes:

   -- EBITDA to decline by more than 10% in 2015, with some
      recovery in 2016.  The EBITDA margin to increase to at least

      16%-17% thanks to the company's cost-cutting measures.

   -- Maintenance capital expenditure (capex) of about
      $15 million-$20 million per year.

   -- No dividend payouts.

Based on these assumptions, S&P arrives at these credit measures:

   -- Standard & Poor's-adjusted funds from operations (FFO) to
      debt of 3%-4% in 2015 and 4%-6% the following year.

   -- Adjusted debt to EBITDA of about 6x-6.5x in 2015 and 5x-6x
      the following year.

The ratios support S&P's assessment of FESCO's financial risk
profile as "highly leveraged."  In S&P's opinion, the main impact
of the recent cash buyback transaction is to reduce yearly interest
costs by about $20 million-$25 million.  Combined with cost-cutting
measures and lower capital expenditures, S&P expects this should to
result in at least break-even free operating cash flow for
2015/2016.

The stable outlook reflects S&P's view that, over the next 12
months, FESCO's financial risk profile will remain "highly
leveraged" and, following the recent cash buyback, liquidity will
be sufficient for its financing needs.

S&P could consider a downgrade if liquidity weakens materially and
S&P believes FESCO's capital structure to be unsustainable.  S&P
could also lower the rating if FESCO announces another cash buyback
offer that S&P views as distressed.

An upgrade would require FESCO to deleverage further or improve its
operating performance, resulting in FFO to debt above 9%.  



FEDERAL RESOURCES: Files Amended Schedule of Personal Property
--------------------------------------------------------------
Federal Resources Corporation filed with the U.S. Bankruptcy Court
for the District of Utah a second amended Schedule B -- Personal
Property.  Copies of the schedules are available for free at:

    http://bankrupt.com/misc/FederalResources_136_amendedSAL.pdf
    http://bankrupt.com/misc/FederalResources_SAL.pdf

                         About the Debtors

Federal Resources Corporation, along with subsidiary Camp Bird
Colorado, Inc., sought Chapter 11 bankruptcy protection (Bankr. D.
Utah Case No. 14-33427 and 14-33428) in Salt Lake City on Dec. 29,
2014.  The Debtors are represented by David E. Leta, Esq., at Snell
& Wilmer, in Salt Lake City.

Federal and Camp Bird each estimated $10 million to $50 million in
asset and debt.  

The Debtors sought Chapter 11 bankruptcy protection with plans to
sell subsidiary Camp Bird's gold mine in Ouray, Colorado to pay off
creditors.

Federal Resources is a Nevada Corporation that was formed in 1960
as a result of a merger between Radorock Resources, Inc., and
Federal Uranium Corporation.  Federal currently has only two
assets: (1) 100% of the stock of Camp Bird, a Colorado corporation
and (2) 100% interest in a Madawaska Mines Limited, a Canadian
corporation doing business in Ontario Canada.

Camp Bird's principal assets consist of patented gold mining claims
and related land located in Ouray, Colorado.  Camp Bird also is the
sole owner of Camp Bird Tunnel, Mining and Transportation Company
("CTMT"), which owns various water and tunnel rights used and
associated with the Camp Bird properties.

Madawaska Mines owns a 5l% interest in a joint venture, which holds
the Madawaska Mine near Bancroft, Ontario.


FINANCIAL HOLDINGS: Taps Stoll Keenon as Bankruptcy Counsel
-----------------------------------------------------------
Financial Holdings, Inc. is asking the U.S. Bankruptcy Court for
the Eastern District of Kentucky for approval to employ Stoll
Keenon Ogden PLLC as its general bankruptcy counsel, effective as
of the Petition Date.

In order to preserve the value of the Debtor's assets and
operations, legal representation is crucial for the Debtor to
assure compliance with the Court's operating order and to represent
the Debtor at the initial debtor interview and meeting of
creditors.

The Debtor proposes to pay SKO at its customary rates for work of
the type and to reimburse SKO according to the firm's customary
reimbursement policies.

SKO and the Debtor have agreed that, assuming the anticipated sale
pursuant to 11 U.S.C. Sec. 363 is completed, the total SKO fee in
the case will be capped at $45,000, except that the capped fee will
not include: (i) any matters following the completion of the sale
including any appeals; (ii) litigation that arises during or after
the bankruptcy case; and (iii) any contested matters in the
bankruptcy case that involve litigation-type work (i.e.,
depositions and other discovery, and extended briefing and
evidentiary hearings).

Prior to the Petition Date, the Debtor provided SKO with a retainer
in the amount of $20,000, which amount was held in SKO's escrow
account.

To the best of the Debtor's knowledge and belief, SKO (i) is
"disinterested" as that term is defined in 11 U.S.C. Sec. 101(14)
and 1107(b); (ii) neither holds nor represents any interest adverse
to the Debtor or its estate as required by 11 U.S.C. Sec. 327(a);
and (iii) and except as otherwise disclosed, has no relevant
connection to the Debtor or its significant creditors and owners
whose names were supplied to SKO by the Debtor.

                     About Financial Holdings

Financial Holdings, Inc., is a bank holding company, organized
under the laws of the Commonwealth of Kentucky, that owns 100% of
the common stock of two subsidiaries: (i) American Founders Bank,
Inc. and (ii) American Founders Statutory Trust I.  The Bank, in
turn, owns 100% of the voting common stock of American Founders
Loan Corporation.

Financial Holdings sought Chapter 11 protection (Bankr. E.D. Ky.
Case No. 15-51187) on June 16, 2015, in Lexington, Kentucky.  The
Bank, Statutory Trust, and AFLC, are not debtors in the Chapter 11
case.

The Debtor disclosed total assets of $11.9 million and total
liabilities of $40.6 million.

The case is assigned to Judge Gregory R. Schaaf.

The Debtor tapped Stoll Keenon Ogden, PLLC, as counsel, and Austin
Associates, LLC, as financial advisors.


FINANCIAL HOLDINGS: Wants to Limit Trading to Protect NOLs
----------------------------------------------------------
Financial Holdings, Inc. is asking the U.S. Bankruptcy Court for
the Eastern District of Kentucky to set notification and hearing
procedures for transfers of beneficial interests in equity
securities.

The Debtor seeks to preserve its valuable net operating losses
("NOLs") belonging to the Debtor's estate.  Without proposed
trading restrictions, prohibitions, and procedures, the Debtor may
risk an "ownership change" under certain provisions of the Internal
Revenue Code ("IRC") which would jeopardize -- if not altogether
destroy -- the value of the NOLs.

The Debtor and its non-debtor subsidiaries file a consolidated
federal tax return.  The Debtor estimates that, as of Dec. 31,
2014, they had a consolidated NOL of $52,000,000, which is
attributable to the members of the consolidated group as follows:

     Debtor - $13,000,000,
     Bank - $29,000,000, and
     AFLC - $10,000,000.

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

   * Any "substantial equity holder" -- any person or entity that
beneficially owns at least 4.5% of all issued and outstanding FHI
common stock -- must serve and file a declaration within 20 days
after the date of a final order approving the procedures and the
date within which a person or entity becomes a substantial equity
holder.

   * Prior to effectuating any transfer of the equity securities
that would result in a decrease in the amount of common stock that
is beneficially owned by a substantial equity holder or would
result in a person or entity ceasing to be a substantial equity
holder, the parties to such transaction must serve and file an
advanced 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.

The Debtor believes that the trading procedures are only applicable
to six shareholders:

   a. AFB Partners (Limited Partnership) William P. Butler, General
Partner; 100 E. River Center Blvd., Covington, KY 41011;
approximately 4.56% equity interest;

   b. Howard M. and Lee B. Allen; 229 Stonehedge St., Frankfort, KY
40601; approximately 6.49% equity interest;

   c. William P. Butler c/o Corporex Companies; 100 E. River Center
Blvd., Covington, KY 41011; approximately 10.18% equity interest;

   d. Cede & Co.; PO Box 222, Bowling Green Station, NY 10274;
approximately 5.06% equity interest;

    e. Brereton C. Jones; PO Box 487, Midway, KY 40347;
approximately 16.77% equity interest; and

    f. Clayton B. Patrick; 1095 Bittersweet Ln., Frankfort, KY
40601; approximately 16.96% equity interest.

                     About Financial Holdings

Financial Holdings, Inc., is a bank holding company, organized
under the laws of the Commonwealth of Kentucky, that owns 100% of
the common stock of two subsidiaries: (i) American Founders Bank,
Inc. and (ii) American Founders Statutory Trust I.  The Bank, in
turn, owns 100% of the voting common stock of American Founders
Loan Corporation.

Financial Holdings sought Chapter 11 protection (Bankr. E.D. Ky.
Case No. 15-51187) on June 16, 2015, in Lexington, Kentucky.  The
Bank, Statutory Trust, and AFLC, are not debtors in the Chapter 11
case.

The Debtor disclosed total assets of $11.9 million and total
liabilities of $40.6 million.

The case is assigned to Judge Gregory R. Schaaf.

The Debtor tapped Stoll Keenon Ogden, PLLC, as counsel, and Austin
Associates, LLC, as financial advisors.


FLY LEASING: Moody's Affirms B1 CFR & Changes Outlook to Positive
-----------------------------------------------------------------
Moody's Investors Service affirmed the B1 corporate family and B2
senior unsecured ratings Fly Leasing Limited (Fly) and changed the
rating outlook to positive from stable.  Moody's action follows
Fly's announcement that it will sell a portfolio of 33 older
aircraft during 2015 for $985 million, including a pre-tax gain of
$35 million.

RATINGS RATIONALE

Moody's revised Fly's outlook to positive because the company's
aircraft sales will reduce aircraft remarketing and residual risks
and lead to more predictable profitability, as the company
redeploys capital toward the acquisition of newer aircraft placed
into longer leases.  The aircraft sales will reduce the number of
aircraft aged over 10 years in Fly's fleet to 33 from 61, resulting
in a pro forma reduction in fleet average age to 7.7 years from 8.1
years at March 30, 2015, and an increase in fleet average remaining
lease term to 5.4 years from 5.1 years. Additionally, the sales
will reduce Fly's revenue concentration to certain airline
customers.  The transaction will generate $425 million in net cash
proceeds after repayment of $495 million of secured debt and
associated expenses.

The company will use sale proceeds to invest in newer aircraft,
primarily acquired through sale-leaseback transactions with
airlines, that should further improve the residual risk
characteristics of the fleet.  Fly expects to acquire $750 million
of aircraft during 2015, about $450 million of which has either
closed or is in the company's pipeline.  Moody's expects that Fly's
aircraft acquisitions will continue at this pace in 2016. The firm
is focused on acquiring newer, widely-operated narrow-body aircraft
and select wide-body models, while maintaining overall wide-body
exposure of not more than 25% of fleet carrying value.
Fly also announced that its external manager, BBAM LP, will reduce
its annual management fee by 47% to $5.7 million.  BBAM will
continue to collect servicing fees at a rate of 3.5% of revenues.
The management fee reduction, improvements in Fly's fleet
composition, and fleet growth strengthen the firm's earnings
outlook and should result in less earnings volatility over time.

Moody's affirmed FLY's B1 corporate family rating on the basis of
its modest but growing competitive positioning in the commercial
aircraft leasing business, fleet composition that is transitioning
toward newer models, high though moderating lessee concentrations,
and leverage higher than certain peers.  Fly has taken steps in
recent quarters to improve its funding diversification through the
issuance of unsecured debt, supported by an adequate base of
unencumbered aircraft, though secured debt will likely remain the
dominant form of debt funding in the company's capital structure,
which is a rating constraint.  Moody's expects that Fly's
debt/tangible equity leverage ratio will measure higher than
certain rated peers, nearing 4.0x as it deploys capital toward
fleet growth.

Moody's could upgrade FLY's ratings if the company achieves further
meaningful funding diversification, including reduced reliance on
secured financing, and if the company's leverage (D/E) declines to
3.5x or less.

FLY's ratings could be downgraded if its leverage increases
materially above 4.0x including as a result of rapid debt-funded
growth, or if its profitability and liquidity positions weaken
materially.

Ratings affirmed:

Fly Leasing Limited:

Corporate Family Rating: B1
Senior unsecured: B2
Senior Unsecured shelf: (P)B2
Subordinated: (P)B3
Cumulative Preferred Stock: (P)Caa1
Non-Cumulative Preferred Stock: (P)Caa2

Fly Funding II S.a.r.l.:

Senior secured: Ba3



FRESH PRODUCE: Court Fixes July 27 as General Claims Bar Date
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Colorado established
July 27, 2015, as the deadline for any individual or entity to file
proofs of claim against Fresh Produce Holdings, LLC, et al.

The Court also ordered that that proofs of claim by a governmental
unit must be filed by Oct. 1, 2015.

All proofs of claim must be filed with the Clerk of the Bankruptcy
Court by e-filing, by mail or in person, such that they are
received no later than the applicable bar date at this address:

         Clerk of the U.S. Bankruptcy Court
         United States Custom House         
         721 19th Street
         Denver, CO 80202

                   About Fresh Produce Holdings

Fresh Produce Holdings, LLC, and five separate entities filed
Chapter 11 petitions in the U.S. Bankruptcy Court for the District
of Colorado on April 4, 2015.  Holdings is the parent company, and
the various related or subsidiary entities include: Fresh Produce
Retail, LLC, Fresh Produce Sportswear, LLC, Fresh Produce of St.
Armands, LLC, FP Brogan-Sanibel Island, LLC, and Fresh Produce of
Coconut Point, LLC.  All of the cases are jointly administered
under Case No. 15-13485.

Headquartered in Boulder, Colorado Fresh Produce --
http://www.freshproduceclothes.com/-- designs, develops and    
markets women's apparel and accessories.  The company says its
collections of tops, pants, skirts and dresses feature a signature
garment dye process with more than 80 percent produced in the
United States.  It says products are available in 26 company-owned
boutiques located across the United States, as well as 400
independent retail locations.

Fresh Produce Holdings disclosed $15,657,041 in assets and
$13,320,303 in liabilities as of the Chapter 11 filing.

The Debtors are represented by Michael J. Pankow, Esq., at
Brownstein Hyatt Farber Schreck, in Denver. The bankruptcy cases
are assigned to Judge Sidney B. Brooks.

The Debtor's subsidiary earlier commenced bankruptcy cases on
April
2, 2015: FP Brogan-Sanibel Island, LLC (Case No. 15-13420), Fresh
Produce Coconut Point, LLC (Case No. 15-13421), Fresh Produce of
St. Armands, LLC (Case No. 15-13417), Fresh Produce Retail, LLC
(15-13415), and Fresh Produce Sportswear, LLC (15-13416).

The U.S. Trustee for Region 19 amended the membership of the
Official Committee of Unsecured Creditors.  The Committee is
consist of four unsecured creditors.


GENEX HOLDINGS: Moody's Retains B3 CFR After Incremental Term Loan
------------------------------------------------------------------
Moody's Investors Service is maintaining the B3 corporate family
rating and B3-PD probability of default rating of GENEX Holdings,
Inc. following plans to borrow an incremental $55 million under its
senior secured first-lien and $22.5 million under its second-lien
term loan.  Net proceeds from the offering will be used to fund
acquisitions.  The transaction does not affect Genex's corporate
family or its debt ratings, which include a B1 rating on its
first-lien term loan and a Caa2 rating on its second-lien term
loan.  The outlook for the ratings is stable.

RATINGS RATIONALE

GENEX's ratings reflect the company's strong market position in
workers' compensation case management services, national network of
nurses and case managers, stable revenues, and healthy free cash
flow.  The managed care business provides GENEX with consistent
fee-based revenue based on multi-year contracts with its customers.
These strengths are offset by aggressive financial leverage and
limited fixed charge coverage as well as relatively high
concentration of revenue tied to claims volume in the workers'
compensation insurance market.  The rating agency expects that
Genex will continue to pursue a combination of organic revenue
growth and acquisitions, the latter giving rise to integration and
contingent risks.

Giving effect to the proposed financing, GENEX's debt-to-EBITDA
ratio will be in the range of 7.5-8x and interest coverage of
nearly 2x, based on Moody's estimates.  Such leverage is aggressive
for the firm's rating category, but Moody's expects it to decline
over the next 12-18 months through a combination of organic growth
and through the recognition of acquired EBITDA.

Factors that could lead to an upgrade of GENEX's ratings include:

   (i) debt-to-EBITDA ratio below 6x,
  (ii) (EBITDA - capex) coverage of interest exceeding 2x, and
(iii) free-cash-flow-to-debt ratio greater than 4%.

Factors that could lead to a rating downgrade include:

   (i) debt-to-EBITDA ratio above 8x on a sustained basis,
  (ii) (EBITDA - capex) coverage of interest less than 1.2x, and
(iii) free-cash-flow-to-debt ratio below 2%.

Furthermore, the first-lien credit facility rating could be
downgraded if the proportion of first-lien debt relative to
second-lien debt in the capital structure is increased.

Giving effect to the incremental borrowing, GENEX's ratings (and
loss given default (LGD) assessments) are:

  Corporate family rating B3;

  Probability of default rating B3-PD;

  $30 million first-lien revolving credit facility B1 (to
  LGD3, 32% from LGD3, 33%);

  $270 million (including incremental borrowing) first-lien
  term loan B1 (to LGD3, 32% from LGD3, 33%);

  $115 million (including incremental borrowing) second-lien
  term loan Caa2 (to LGD5, 84% from LGD5, 85%).

Based in Wayne, PA, GENEX is a leading provider of managed care
services nationally.  In addition to its case management services,
GENEX provides medical cost containment and related services.  For
the trailing twelve months ended March 2015, GENEX generated total
consolidated GAAP revenues of $377 million.

The principal methodology used in these ratings was Moody's Global
Rating Methodology for Insurance Brokers & Service Companies
published in February 2012.  Other methodologies used include Loss
Given Default for Speculative-Grade Non-Financial Companies in the
U.S., Canada and EMEA published in June 2009.



GREAT BASIN: Reports $71.2-Mil. Net Loss in First Quarter
---------------------------------------------------------
Great Basin Scientific, Inc., filed its quarterly report on Form
10-Q, disclosing a net loss of $71.2 million on $459,000 of
revenues for the three months ended March 31, 2015, compared with a
net loss of $4.04 million on $349,000 of revenues for the same
period last year.

The Company's balance sheet at March 31, 2015, showed $26.6 million
in total assets, $106 million in total liabilities, and a
stockholders' deficit of $79.1 million.

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

                        http://is.gd/JAvzay

                   About Great Basin Scientific

Great Basin Scientific, Inc., doing business as Great Basin
Corporation, is a commercial-stage molecular diagnostic testing
company.  The Salt Lake City-based Company aims to improve patient
care through the development and commercialization of its patented
molecular diagnostic platform for testing infectious diseases,
especially hospital-acquired infections.

The Company reported a net loss of $21.7 million on $1.61 million
of revenues for the year ended Dec. 31, 2014, compared to a net
loss of $9.56 million on $761,000 of revenues for the same period
in 2013.

Mantyla McReynolds, LLC, expressed substantial doubt about the
Company's ability to continue as a going concern, citing that the
Company has incurred substantial losses from operations causing
negative working capital and negative operating cash flows.

The Company's balance sheet at Dec. 31, 2014, showed $7.57 million
in total assets, $15.6 million in total liabilities, and a
stockholders' deficit of $8.01 million.



GREEN EARTH: Jeffrey Loch Quits as Director
-------------------------------------------
Jeffrey Loch resigned as a director of Green Earth Technologies,
Inc. on June 15, 2015, according to a document filed with the
Securities and Exchange Commission.  In connection with his
resignation, Mr. Loch noted that the Company had terminated its
marketing services agreement with Marketiquette, Inc., a company of
which he was a co-owner.

On June 16, 2015, the board of directors of the Company terminated
Mr. Loch as the president and chief marketing officer of the
Company as a result of the termination of the Marketiquette
agreement.  

The Company appointed Walter Raquet as its chief executive officer
and president.  Mr. Raquet has been functioning as the Company's
interim chief executive officer.  Mr. Raquet is also a member of
the Company's board of directors.

"Walter Raquet has been a director since June 2012 and was
appointed Interim Chief Executive Officer in May 2014.  Mr. Raquet
is currently Chairman of Bolton LLC an investment management
company.  He is currently a director for Liquid Holdings Group, LLC
(LIQD).  He was Chairman of WR Platform Advisors LP, a technology
platform and service provider of managed accounts for hedge fund
investments from 2004 to 2011.  Mr. Raquet was also a co-founder of
Knight Securities.  He served as Knight's Chief Operating Officer
from its inception in 1995 until 2000 and as its Executive Vice
President from 1998 through 2002.  He also served as a member of
Knight's board of directors from 1995 through 2002.  Prior to
Knight, Mr. Raquet was a Senior Vice President with Spear, Leeds &
Kellogg/Troster Singer and a Partner at Herzog Heine & Geduld,
Inc., where he directed the firm's technology and marketing
efforts.  Also, Mr. Raquet was Corporate Controller for PaineWebber
Incorporated, Executive Vice President of Cantor Fitzgerald and
Controller for Weeden & Co.  Mr. Raquet is a certified public
accountant and practiced at the accounting firm of Price
Waterhouse.  Mr. Raquet received a B.S. degree in Accounting from
New York University.  Mr. Raquet was selected as a director because
we believe that his background and experience provides the Board
with a perspective on corporate finance matters."

                   About Green Earth Technologies

White Plains, N.Y.-based Green Earth Technologies, Inc. (OTC QB:
GETG) -- http://www.getg.com/-- markets, sells and distributes
bio-degradable performance and cleaning products.  The Company's
product line crosses multiple industries including the automotive
aftermarket, marine and outdoor power equipment markets.

Green Earth incurred a net loss of $6.84 million for the year
ended June 30, 2014, compared to a net loss of $6.59 million
for the year ended June 30, 2013.

As of March 31, 2015, the Company had $14.9 million in total
assets, $29.5 million in total liabilities, and a $14.7 million
total stockholders' deficit.

Friedman LLP, in East Hanover, New Jersey, issued a "going
concern" qualification on the consolidated financial statements
for the year ended June 30, 2014.  The independent auditors noted
that the Company's losses, negative cash flows from operations,
working capital deficit, related party note in default payable
upon demand and its ability to pay its outstanding liabilities
through fiscal 2014 raise substantial doubt about its ability to
continue as a going concern.


GREG DIPAOLO'S: Case Summary & 17 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Greg DiPaolo's Pro Am Golf, LLC
           dba Sugar Hill Golf Course
        7060 East Lake Road
        Westfield, NY 14787

Case No.: 15-11354

Chapter 11 Petition Date: June 23, 2015

Court: United States Bankruptcy Court
       Western District of New York (Buffalo)

Judge: Hon. Carl L. Bucki

Debtor's Counsel: Robert B. Gleichenhaus, Esq.
                  GELICHENHAUS, MARCHESE & WEISHAAR, P.C.
                  930 Convention Tower
                  43 Court Street
                  Buffalo, NY 14202
                  Tel: (716) 845-6446
                  Fax: 716-845-6475
                  Email: RBG_GMF@hotmail.com

Total Assets: $1.7 million

Total Liabilities: $2.6 million

The petition was signed by Patti Ann Brown, managing member.

A list of the Debtor's 17 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nywb15-11354.pdf


HALCON RESOURCES: S&P Raises Corporate Credit Rating to 'B-'
------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Houston-based Halcon Resources Corp. to 'B-' from 'SD'
(selective default).  S&P also raised the issue-level rating on the
company's senior unsecured notes to 'CCC' from 'D'.  The recovery
rating on the senior unsecured notes remains '6', reflecting S&P's
expectation of negligible (0%-10%) recovery in the event of a
conventional default.  S&P also raised the issue-level rating on
Halcon's senior secured second-lien notes to 'CCC+' from 'CCC'.
The recovery rating on the second-lien notes is '5' reflecting
S&P's expectation of modest (10%-30%, lower half of the range)
recovery in the event of a conventional default.

"The upgrade follows our assessment that Halcon is unlikely to
enter into additional debt-for-equity transactions, which we could
potentially view as distressed exchanges, because of its low stock
price and diminished market appetite," said Standard & Poor's
credit analyst Ben Tsocanos.

S&P's assessment of Halcon's business risk as "weak," as defined in
S&P's criteria, reflects the company's small proved reserve base
and limited production, historically aggressive growth strategy,
and participation in the volatile and capital-intensive oil and gas
industry.  These weaknesses are adequately offset at the rating
level by an oil-weighted reserve profile, an experienced management
team, and extensive acreage holdings in multiple onshore
liquids-rich U.S. basins.  S&P characterizes Halcon's financial
risk as "highly leveraged" and view Halcon's liquidity as
"adequate" based on S&P's expectation that liquidity sources will
cover uses by at least 1.2x for the next 12 to 18 months.

The negative outlook reflects S&P's view that Halcon's leverage
could deteriorate beyond S&P's current expectations, approaching
levels S&P would view as unsustainable.  S&P estimates that the
company's leverage will rise above 6x debt to EBITDA and below 12%
FFO to debt in 2016, which S&P views as high for the rating.  S&P
projects that leverage will begin to decline in 2017, reflecting
its higher oil price assumption.

S&P would consider a downgrade if the company faced material
liquidity issues that limited its access to its credit facility or
if S&P did not expect leverage to decline after peaking next year.
S&P would also downgrade the ratings if the company entered into
additional debt exchanges that it views as distressed.

S&P would consider revising the outlook to stable if Halcon is able
to reduce financial leverage to below 5x debt to EBITDA and above
12% FFO to debt while maintaining adequate liquidity.



HYDROCARB ENERGY: Incurs $3.4 Million Net Loss in Third Quarter
---------------------------------------------------------------
Hydrocarb Energy Corp. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $3.4 million on $1.1 million of revenues for the three months
ended April 30, 2015, compared to a net loss of $1.6 million on $1
million of revenues for the same period in 2014.

For the nine months ended April 30, 2015, the Company reported a
net loss of $7.2 million on $2.9 million of revenues compared to a
net loss of $4.5 million on $3.8 million of revenues for the same
period last year.

As of April 30, 2015, the Company had $27.6 million in total
assets, $24.2 million in total liabilities and $3.4 million in
total equity.

At April 30, 2015, the Company had $90,261 of cash on hand and a
working capital deficit of $5,939,054.  The Company has accumulated
losses since inception.  These factors raise substantial doubt
about the Company's ability to continue as a going concern.  

"It is the intent of the Company to maximize shareholder value by,
among other things, increasing production by developing its
acreage, increasing profit margins by evaluating and optimizing its
production, and executing its business plan to increase property
values, prove its reserves, and expand its asset base," the Company
said in the filing.

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

                        http://is.gd/LhVmJT

                       About Hydrocarb Energy

Hydrocarb Energy, formerly known as Duma Energy Corp, is a
publicly-traded Domestic and International energy exploration and
production company targeting major under-explored oil and gas
projects in emerging, highly prospective regions of the world.
With exploration concessions in Africa, production in Galveston
Bay and Oil Field Services in the United Arab Emirates, the
Company maintain offices in Houston, Texas, Abu Dhabi, UAE and
Windhoek, Namibia.

Hydrocarb Energy reported a net loss of $6.55 million on $5.06
million of revenues for the year ended July 31, 2014, compared to
a net loss of $37.5 million on $7.07 million of revenues for the
year ended July 31, 2013.

"A decline in the price of our common stock could result in a
reduction in the liquidity of our common stock and a reduction in
our ability to raise additional capital for our operations.
Because our operations to date have been largely financed through
the sale of equity securities, a decline in the price of our
common stock could have an adverse effect upon our liquidity and
our continued operations.  A reduction in our ability to raise
equity capital in the future could have a material adverse effect
upon our business plan and operations, including our ability to
continue our current operations," the Company stated in its
annual report for the year ended July 31, 2014.


ISTAR FINC'L: Fitch Affirms Then Withdraws B Issuer Default Rating
------------------------------------------------------------------
Fitch Ratings has chosen to withdraw the ratings for iStar
Financial for commercial reasons.

Fitch has affirmed and withdrawn the following ratings:

-- Issuer Default Rating (IDR) at 'B';
-- 2012 senior secured tranche A-2 due March 2017 at 'BB/RR1';
-- Senior unsecured notes at 'BB-/RR2';
-- Convertible senior notes at 'BB-/RR2';
-- Preferred stock at 'CCC/RR6'.

The Rating Outlook is Positive.

KEY RATING DRIVERS

The 'B' IDR is driven by lower leverage and material reductions in
non-performing loans (NPLs). Further improvements in the company's
land and operating property portfolios will likely increase the
company's earnings power and cash flows. Stronger performance
should be driven by the mild improvement in commercial real estate
fundamentals, value stabilization, and financing markets, which
increases the likelihood of iStar's borrowers repaying their debt.

Improving Non-Performing Loan Monetizations

The company reduced its gross NPL portfolio 75% from Dec. 31, 2013
to March 31, 2015 through a combination of loans returning to
performing status, loan sales and foreclosures. The ability for the
company to monetize its NPLs has generated additional cash flow to
repay debt and fund new investments. Gross NPLs represented only
8.9% of the total gross loan balance as of March 31, 2015.

Land Portfolio Currently an Earnings and Leverage Drag

The land segment comprises approximately 29% of the book value of
the company's cost value of real estate, but generates minimal
revenue and a significant segment loss. The segment is currently a
cash flow drain as the company invests capital towards improving
the land for development and/or sale.

High Leverage

Despite an improved debt maturity profile due to several 2014
refinancings, the company's leverage on a net debt/recurring EBITDA
basis was approximately 10x at March 31, 2015 (15x as of Dec. 31,
2013), due to the weak earnings power of the overall portfolio.

On a net debt/undepreciated equity basis, leverage has stabilized
at 2.2x at March 31, 2015 (2.1x as of Dec. 31, 2013 and 2.8x as of
Dec. 31, 2012 and 2011, respectively.)

Improving Coverage

Fixed charge coverage was only 1.4x for the TTM ended March 31,
2015, albeit improved compared with 0.8x and 0.8x for both years
ended Dec. 31, 2013 and 2012. Fitch expects this ratio to
strengthen as the company reduces debt from proceeds of loan
resolutions and asset sales and begins to recognize additional GAAP
earnings from lease-up of assets within its operating property
segment, sales of residential properties and land monetization.

RECOVERIES

While concepts of Fitch's Recovery Rating methodology are
considered for all companies, explicit Recovery Ratings are
assigned only to those companies with an IDR of 'B+' or below. At
the lower IDR levels, there is greater probability of default so
the impact of potential recovery prospects on issue-specific
ratings becomes more meaningful and is more explicitly reflected in
the ratings dispersion relative to the IDR.

The 2012 senior secured tranche A-2 secured credit facility rating
of 'BB/RR1', or a three-notch positive differential from iStar's
'B' IDR, is based on Fitch's estimate of outstanding recovery in
the 91%-100% range. These obligations represent first-lien security
claims on collateral pools comprising primarily performing loans,
credit tenant lease assets and operating properties.

The senior unsecured notes and senior convertible notes ratings of
'BB-/RR2' or a two-notch positive differential from iStar's 'B'
IDR, are based on Fitch's estimate of superior recovery in the 71%
- 90% range based on iStar's current capital structure.

The preferred stock rating of 'CCC/RR6' or a three-notch negative
differential from iStar's 'B' IDR, is based on Fitch's estimate of
poor recovery based on iStar's current capital structure. Fitch's
Recovery Rating criteria provide flexibility for a two- or
three-notch negative differential between the IDR and instrument
rating. A three-notch negative differential is based on the nature
of iStar's perpetual preferred stock -- a deeply subordinated
security that has weak terms and remedies available both before and
after a general corporate default (e.g. no stated maturity, an
inability for holders to put the security back to the company, and
iStar has the ability to defer dividends indefinitely without
triggering a corporate default).

KEY ASSUMPTIONS

-- Loan repayments, REO and other asset sales assume
    monetizations between $800 - 850 million annually, offset by
    $50 million of annual future funding obligations;

-- No common stock dividends, as the Company has significant net
    operating losses, and thus no REIT taxable income for the
    projection period.



LANTHEUS MEDICAL: Signs Supply Agreement with Triad Isotopes
------------------------------------------------------------
Lantheus Medical Imaging, Inc., on June 19, 2015, entered into a
commercial supply agreement pursuant to which it will supply Triad
Isotopes, Inc. with Xenon, Neurolite and Cardiolite products and,
beginning in 2016, TechneLite generators, according to a Form 8-K
document filed with the Securities and Exchange Commission.  The
agreement specifies pricing levels and requires Triad to purchase
minimum volumes of certain products from the Company.

The agreement expires on Dec. 31, 2017, and may be terminated upon
the occurrence of specified events, including a material breach by
the other party and certain force majeure events.

                      About Lantheus Medical

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

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

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

                            *     *    *

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

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

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


LEHMAN BROTHERS: Says Related, Barclays "Manipulated" Swap Deals
----------------------------------------------------------------
Joseph Checkler, writing for Dow Jones' Daily Bankruptcy Review,
reported that Lehman Brothers Holdings Inc. says Stephen Ross's
Related Cos. and Barclays Group PLC were part of a group of swaps
market players that "manipulated" the closeouts of derivatives
contracts at the expense of Lehman and its creditors.

According to the report, in an amended complaint filed June 23 with
U.S. Bankruptcy Court in New York, Lehman said that after it
collapsed in 2008, LCOR Alexandria LLC -- a firm partially owned by
Related -- sought about $6.7 million from Lehman to close out a
derivatives contract, even though Lehman was actually the one owed
about $42 million.

                      About Lehman Brothers

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

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

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

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

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

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

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

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

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


LIGHTSQUARED INC: Gets Court Order Granting Protection to Lenders
-----------------------------------------------------------------
A federal judge approved the new terms proposed by LightSquared to
protect lenders that will finance the company's exit from
bankruptcy through their $1.75 billion loan.

U.S. Bankruptcy Judge Shelley Chapman on June 19 issued a revised
order approving the new terms included in the $1.75 million loan
agreement to be entered into by LightSquared and the lenders on the
effective date of the company's Chapter 11 reorganization plan.

The new terms require LightSquared to close the loan within 10 days
after receiving all regulatory approval required for it to exit
bankruptcy.  

The new terms only allow the company to enter into first lien exit
financing in connection with the plan on terms (vis-à-vis the
lenders) equal to, or more favorable than, those contemplated under
the loan agreement until at least Dec. 15, 2016.  

Moreover, LightSquared is required to provide lenders with the
opportunity to participate, up to the ratable share of their
commitments, in any such alternative financing arrangement.

The initial order issued on June 2 by Judge Chapman authorized the
company to engage Credit Suisse Securities (USA) LLC, Jefferies
Finance LLC and Morgan Stanley Senior Funding Inc. to arrange the
$1.75 billion loan and to pay fees and expenses associated with the
financing.

                      About LightSquared Inc.

LightSquared Inc. and 19 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 12-12080) on
May 14, 2012, to resolve regulatory issues that have prevented it
from building its coast-to-coast integrated satellite 4G wireless
network.

LightSquared had invested more than $4 billion to deploy an
integrated satellite-terrestrial network.  In February 2012,
however, the U.S. Federal Communications Commission told
LightSquared the agency would revoke a license to build out the
network as it would interfere with global positioning systems used
by the military and various industries.  In March 2012, the
Company's partner, Sprint, canceled a master services agreement.
LightSquared's lenders deemed the termination of the Sprint
agreement would trigger cross-defaults under LightSquared's
prepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with liquidity
and runway necessary to resolve its issues with the FCC.

Despite working diligently and in good faith, however, LightSquared
and the lenders were not able to consummate a global restructuring
on terms acceptable to all interested parties.

Lawyers at Milbank, Tweed, Hadley & McCloy LLP serve as counsel to
the Debtors.  Alvarez & Marsal North America, LLC, is the financial
advisor.  Kurtzman Carson Consultants LLC serves as claims and
notice agent.

                          *     *     *

Bankruptcy Judge Shelley C. Chapman in late March 2015, approved
LightSquared Inc.'s Chapter 11 reorganization plan.  As previously
reported by The Troubled Company Reporter, the Debtors, in
December, filed a joint plan and disclosure statement, which
contemplate, among other things, (A) new money investments by the
New Investors in exchange for a combination of preferred and common
equity, (B) the conversion of the Prepetition LP Facility Claims
into new second lien debt obligations, (C) the repayment in full,
in cash, of the Inc. Facility Prepetition Inc. Facility
NonSubordinated Claims immediately following confirmation of the
Plan, (D) the payment in full, in cash, of LightSquared's general
unsecured claims, (E) the provision of $1.25 billion in new money
working capital for the Reorganized Debtors, (F) the assumption of
certain liabilities, (G) the resolution of all inter-Estate
disputes, and (H) the contribution by Harbinger of the Harbinger
Litigations.


LIME ENERGY: Stockholders Elect Board Members
---------------------------------------------
The annual meeting of stockholders of Lime Energy Co. was held on
June 18, 2015, at which the Company's stockholders:

   (i) elected Gregory T. Barnum, Christopher W. Capps,
       Richard P. Kiphart, Adam C. Procell and Tommy Pappas
       as directors for terms initially expiring at the annual
       meeting of stockholders in 2016;

  (ii) elected Andreas Hildebrand and Peter Macdonald as directors

       for a one-year term ending at the Company's 2016 annual
       meeting of stockholders or until their respective
       successors are duly elected and qualified; and

(iii) ratified the appointment of BDO USA, LLP as the Company's
       independent registered public accounting firm for the
       fiscal year 2015.

In addition, the Annual Meeting also covered (i) the approval of an
amendment to the Company's 2010 Non-Employee Directors Stock Plan
to increase the maximum number of shares of common stock available
for issuance under the Plan from 250,000 shares to 500,000 shares
and (ii) the approval of the Lime Energy Co. 2015 Employee Stock
Purchase Plan which had been approved in an action by written
consent by holders of a majority of the Company's common stock and
Series C Convertible Preferred Stock.

                         About Lime Energy

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

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

As of March 31, 2015, the Company had $53.81 million in total
assets, $38.04 million in total liabilities, $9.38 million in
contingently redeemable series C preferred stock, and $6.38 million
in total stockholders' equity.


LOCAL CORP: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Local Corporation, a Delaware corporation
           dba Local.Com Corporation
        7555 Irvine Center Drive
        Irvine, CA 92618

Case No.: 15-13153

Type of Business: Advertising Technology Company

Chapter 11 Petition Date: June 23, 2015

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Hon. Scott C Clarkson

Debtor's Counsel: Garrick A Hollander, Esq.
                  WINTHROP COUCHOT PROFESSIONAL CORPORATION
                  660 Newport Center Dr Ste 400
                  Newport Beach, CA 92660
                  Tel: 949-720-4150
                  Fax: 949-720-4111
                  Email: ghollander@winthropcouchot.com

                     - and -

                  Marc J Winthrop, Esq.
                  WINTHROP COUCHOT PROFESSIONAL CORPORATION
                  660 Newport Center Dr Ste 400
                  Newport Beach, CA 92660
                  Tel: 949-720-4100
                  Email: mwinthrop@winthropcouchot.com

Total Assets: $38.1 million

Total Debts: $8.8 million

The petition was signed by Kenneth S. Cragun, chief financial
officer.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
U.S. Bank National Association        Finance          $8,685,055  

(as Trustee)
633 West Fifth Street, 24th Floor
Los Angeles, California 90071
Georgina Thomas
Tel: (213) 615-6001
Email: georgina.thomas@usbank.com

Google Inc.                            Trade           $6,639,914
Dept 33654 P.O. Box 39000
San Francisco CA 94139
Romar Cruz
Tel: 661-294-4324 ext 413
Email: romar@google.com

Online Equity Ventures, LLC            Trade           $2,431,644
1812 Cowan, Suite 175
Irvine, CA 92614
Matt Hopkins
Tel: 949-540-9004
Email: matt@klickthru.com

Spacejet Media                         Trade           $1,134,706
1514 McDonald St.
Houston, TX 77007
Brady Moritz
Tel: 713-291-2145
Email: brady@spacejetmedia.com

Shopping Cheapest LLC                  Trade           $1,059,566  

c/o Ying Jian Liu, Esq.
1 Park Plaza, Suite 600
Irvine, CA 92614
Allan Liang (attorney)
Tel: 949-852-7332
Email: mail@allanliang.com

Adap.TV                                Trade             $454,253
General Post Office PO Box 5696
New York NY 100875696
Nicole Rogers
Tel: 757-320-4733
Email: nicole.rogers@teamaol.com

Engage BDR                             Trade             $388,646
9000 W. Sunset Blvd. Suite 500
West Hollywood CA 90069
Li Chen
Tel: 310-954-0751 (ext 721)
Email: li@engage-bdr.com

American Express                       Trade             $281,038
Box 0001
Los Angeles CA 90096-8000
Lance R. Thomas
Tel: 760-602-9717
Email: lance.r.thomas@aexp.com

Advertise.com/Merino Yebri, LLP        Trade             $266,963
Attn: Alexander Merino
1925 Century Park East, Suite 2140
Los Angeles CA 90067
Vic Tomaszewski
Tel: 310-359-5007
Email: vic@advertise.com

Tracfone Mobile/Textopoly Inc.          Trade            $226,140

Lanthrop & Gage                         Trade            $203,041

Rocket Fuel Inc.                        Trade            $190,544

Inner-Active                            Trade            $138,686

Admarketplace                           Trade            $103,178

MatchFlow Media LLC                     Trade             $92,564

Realistic Media                         Trade             $89,813

Bearing Media, Inc.                     Trade             $79,652

Forensiq                                Trade             $74,123

RR Donnelley Financial, Inc.            Trade             $73,645

Phoenix Media reviewz central           Trade             $70,783


LOCAL CORP: Search Provider Hits Chapter 11 Bankruptcy
------------------------------------------------------
Local Corporation, an Irvine, California-based company that
provides local search results and generates revenues from the ads
placed alongside those search results, has sought bankruptcy
protection due to liquidity woes.

The Debtor's expertise in the areas of local search, search engine
marketing, search engine optimization, search syndication/analysis
and reporting at large scale, internet indexing and normalizing has
enabled the company to develop and deploy new technologies and
products.  At present, the Debtor holds 13 patents, and a number of
additional patent applications are pending. These technologies have
enabled the Company to achieve great success in growing the number
of consumers that its media reaches. By the end of 2013, the
Company had reached record levels of traffic in the mobile search
space.

In calendar year 2014, the Debtor generated $82.0 million in
revenues, $2.2 million in adjusted EBITDA and a net loss of
approximately $5.0 million.  The Debtor has generated positive
EBITDA for eight of the last nine quarters.  As of June 22, 2015,
the Debtor had $20,000 in cash, $8.8 million in accounts
receivables, plus intellectual property assets with significant
value.

The Debtor's Chapter 11 filing was precipitated by its short term
cash flow needs.  This problem was caused by the following
developments:

   1. Clawbacks.  The Debtor's network partners, including Yahoo
and Google, pay the Debtor based upon the amount of "traffic" that
is generated by or through the Debtor's services and technologies.
In the first quarter of 2014, the Debtor was anticipating $1.6
million of revenue from these sources based upon "traffic" that was
later determined to be of too low a quality to justify this
payment.  As a result, this $1.6 million in revenue was not
collected;

   2. Operational Results.  Like most growing technology companies,
the Debtor periodically expends more cash that it takes in from
operations. This "burn" factor is largely attributable to the fact
that a significant amount of corporate revenues are expended on
developing and enhancing technological platforms and products.
Although these platforms and products will generate revenues in the
future, the product cost is front-loaded and consequently this
product development expense can create, or in this case, add to, a
near term liquidity problem.

                        First Day Motions

The Debtor on the Petition Date filed a motion to use cash
collateral, as well as a motion to pay prepetition payroll and
implement an employee retention program for essential non-insider
employees.

The Debtor has 48 full-time, salaried employees.  On or about March
27, 2015, the Debtor entered into a "Retention Agreement" with 41
non-insider employees.  In anticipation of a potential change in
control of the Debtor's business, the Debtor entered into the
Retention Agreements in an effort to retain employees that the
Debtor believed were critical to the preservation of the Debtor's
customers, daily operations, and going concern value of its
business.  The key terms of the Retention Agreement provide that,
if a retained employee remains in the Debtor's employ through the
date that is six months after a CIC Transaction, the Debtor will
pay to the retained employee a "Retention Bonus" in the amount of
25% of the retained employee's then-current annual salary.  The
Debtor agreed to pay to the retained employees the Retention Bonus
in addition to the retained employee's annual salary and other
bonus amounts payable to the employee.

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

   http://bankrupt.com/misc/Local_Corp_1st_Day_Affidavit.pdf

                     About Local Corporation

Local Corporation, a publicly traded Delaware corporation (NASDAQ
symbol LOCM), is in the business of providing search results to
consumers who are searching online for local businesses, products
and services.  Founded in 1999, the Irvine, California-based
company went public in 2004 and has been one of the fastest growing
online local media businesses for a number of years, and for the
past four years it has been listed by Deloitte on its Technology
Fast 500.  The Company's search results are provided through the
Company's flagship Local.com Web site and through other proprietary
Web sites, and they are also delivered to a network of over 1,600
other Web sites that rely on search syndication services to provide
local search results to their own users.  The 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.

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.

Local Corp. filed a Chapter 11 bankruptcy petition (Bankr. C.D.
Cal. Case No. 15-13153) in Santa Ana, California, on June 23, 2015.
The case is assigned to Judge Scott C Clarkson.

The Debtor tapped Winthrop Couchot as counsel.

The official schedules of assets and liabilities and statement of
financial affairs are due July 7, 2015.


LOCAL CORP: Seeks Court Approval to Use Collateral
--------------------------------------------------
Local Corporation is asking the U.S. Bankruptcy Court for the
Central District of California to enter interim and final orders
authorizing its use of cash collateral.

Garrick H. Hollander, Esq., at Winthrop Couchot, explains that the
Debtor's cash and cash equivalents are subject to a purported
"lien" in favor of lender Fast Pay Partners, LLC.  This lien
secures a credit facility with an outstanding balance of
approximately $2.3 million.  The collateral base securing Fast
Pay's debt includes, but is not limited to approximately $8.4
million in accounts receivable, and a suite of intellectual
property assets, which includes 13 valuable patents.  Accordingly,
the Debtor believes the Lender is adequately protected by a
substantial equity cushion.  

Moreover, the Debtor projects that it will generate positive EBITDA
through postpetition operations, as it has successfully done for
the eight of the last nine quarters. Accordingly, no depletion of
the Lender's collateral base is expected to occur postpetition.

The value of the Debtor's business lies in its technologies, unique
products, scalable platforms, extensive partner network, employees,
and the thousands of customers and clients who use its services
daily. In order to preserve and maintain the value of its business
for the benefit of its creditors and shareholders, the Debtor must
have immediate access to the use of all cash collateral.

As of the Petition Date, the Debtor had approximately $20 million
of unsecured debt.  The unsecured debt is comprised of $11 million
in accounts payable, and approximately $9 million of unsecured
financing.

The Debtor proposes to use cash collateral on these terms:

   * Budget.  The Debtor will be authorized to make the
expenditures provided for in each budget monthly, and if necessary,
to exceed the amounts set forth in each respective budget by as
much as 15% of budget total;

   * Replacement Lien.  As and for adequate protection of the
Debtor's use of any cash collateral, the Lender will be granted a
replacement lien in the Debtor's post-petition cash, accounts
receivable and inventory, and the proceeds of each of the
foregoing, to the same extent and priority as any duly perfected
and unavoidable liens in cash collateral held by the Lender as of
the Petition Date.

   * Reservation of Rights. The Debtor, the Committee, once
appointed, and all other parties-in-interest reserve any and all
rights that they may have to object to the claims of the Lender and
to object to the validity, priority and extent of the Lender's
liens, if any, encumbering the Debtor's assets.

   * Financial Reporting.  The Debtor will provide to the Lender
all monthly operating reports required to be submitted to the
Office of the United States Trustee, and monthly cash flow reports,
broken down by the expense line items contained in the budget,
within 25 days after the end of each calendar month following the
Petition Date.

   * Final Hearing on this Motion.  The Debtor reserves the right
to seek, at the final hearing on the cash collateral motion, use of
cash collateral on different terms.

                     About Local Corporation

Local Corporation, a publicly traded Delaware corporation (NASDAQ
symbol LOCM), is in the business of providing search results to
consumers who are searching online for local businesses, products
and services.  Founded in 1999, the Irvine, California-based
company went public in 2004 and has been one of the fastest growing
online local media businesses for a number of years, and for the
past four years it has been listed by Deloitte on its Technology
Fast 500.  The Company's search results are provided through the
Company's flagship Local.com Web site and through other proprietary
Web sites, and they are also delivered to a network of over 1,600
other Web sites that rely on search syndication services to provide
local search results to their own users.  The 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.

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.

Local Corp. filed a Chapter 11 bankruptcy petition (Bankr. C.D.
Cal. Case No. 15-13153) in Santa Ana, California, on June 23, 2015.
The case is assigned to Judge Scott C Clarkson.

The Debtor tapped Winthrop Couchot as counsel.

The official schedules of assets and liabilities and statement of
financial affairs are due July 7, 2015.


LYONDELL CHEMICAL: American Casualty Liable Under D&O Policy
------------------------------------------------------------
In AMERICAN CASUALTY COMPANY OF READING, P.A., ET AL.,
Plaintiffs-Appellants, v. MORRIS GELB, ET AL.,
Defendants-Respondents, 15335, 653280/11. 2015 NY Slip Op 04724,
Defendants are former directors and officers of Lyondell Chemical
Company who seek insurance coverage for their defense of an
adversary proceeding commenced by the creditors committee in
Lyondell's bankruptcy proceeding. The bankruptcy proceeding was
commenced in 2009 by Lyondell, a company with which it had merged
in 2007, and about 90 of their subsidiaries. Before the merger was
consummated, a shareholder brought a putative class action
challenging the merger price and alleging that Lyondell's directors
and officers had failed to get the best price possible for the
company. Plaintiffs provided a defense for the directors and
officers in that action, which eventually was dismissed (Lyondell
Chem. Co. v Ryan, 970 A.2d 235 [Del 2009]). For the purpose of
prosecuting the adversary proceeding, the creditors committee's
claims were assigned to a litigation trust, which alleged in its
complaint that the merger price set by the directors resulted in a
windfall to them, that the price was derived from misleading
financial data, and that the financing arranged to consummate the
merger was over-leveraged, leading to the bankruptcy.

Defendants seek coverage for the adversary proceeding under excess
directors and officers liability policies issued by plaintiffs to
Lyondell in various layers over the course of two separate policy
periods running from 2006 to 2007 and from 2007 to 2013. This
excess coverage was to follow form to Lyondell's primary coverage.

The primary insurer provided a defense for the directors and
officers in the adversary proceeding. However, after the primary
policies were exhausted and the defense was tendered to plaintiffs,
plaintiffs commenced this action for a declaration that they have
no obligation to defend defendants in that proceeding.

Plaintiffs argue that both the merger litigation commenced in 2007
and the adversary proceeding commenced in July 2009 arose out of
the merger transaction and therefore must be treated as a single,
unified claim that came into existence when the merger litigation
was commenced, and that since that claim came into existence during
the 2006-2007 policy period, it is subject to the exclusion in the
2006-2007 policies for claims brought by or on behalf of Lyondell
against any of its own directors or officers (the "insured versus
insured" [IVI] exclusion). In April 2009, the IVI exclusion was
narrowed, as announced by the primary insurer as part of its
"Select Form," so that it no longer excluded claims brought or
maintained by, inter alia, a bankruptcy creditors committee.

In its decision dated June 4, 2015, a copy of which is available at
http://bit.ly/1H2Lq33from Leagle.com, the Appellate Division of
the Supreme Court of New York, First Department, rejected the
plaintiffs' argument that the merger litigation and the adversary
proceeding constitute one continuous claim. It pointed out that the
two proceedings, while arising from the merger, are wholly
different, with different parties, different allegations, and
different causes of action. In essence, the Court added, the merger
litigation was premised on the allegation that the price per share
set by Lyondell's directors and officers was too low, while the
adversary proceeding is premised on the allegation that the price
was in a sense too high, supported by unsustainable revenue
projections and requiring excessive leverage by Lyondell to finance
and consummate the transaction. Thus, the adversary proceeding
claim came into existence in July 2009, after the Select Form had
been announced, and is not subject to the IVI exclusion.

"We have considered plaintiffs' remaining arguments and find them
unavailing," ruled the Appellate Court.

DLA Piper (US) LLP, New York (Joseph G. Finnerty III of counsel),
for appellants.

Dickstein Shapiro LLP, New York (James R. Murray of counsel), for
respondents.


MIDWAY GOLD: Proposes Squire as Primary Legal Counsel
-----------------------------------------------------
Midway Gold US Inc. and the affiliated debtors ask the U.S.
Bankruptcy Court for the District of Colorado for authority to
employ Squire Patton Boggs (US) LLP as primary legal counsel in
accordance with the terms of an Engagement Letter dated June 9,
2015.

With 44 offices in 21 countries, Squire has broad-based practice
groups with expertise in virtually all areas of law that may be
significant in the Debtors' Chapter 11 cases, including, for
example, bankruptcy and restructuring, transactional, securities,
tax, and mergers and acquisitions.

Squire has been serving as the Debtors' restructuring counsel since
June 9, 2015 and is already very familiar with the Debtors'
business and affairs, the restructuring transactions and strategies
that the Debtors intend to pursue in these cases, and other issues
that will need to be addressed in these cases.  In addition, Squire
has been directly involved in prepetition discussions and
negotiations with key parties in interest, including the Debtors'
prepetition senior secured lender, Commonwealth Bank of Australia
("CBA"), and is in the best position to continue engaging with
these parties postpetition on behalf of the Debtors in as efficient
a way as possible.

For professional services, Squire's fees are based primarily on its
customary hourly rates, which are periodically adjusted in
accordance with Squire's policy, as determined by the billing rate
for each person devoting time to this matter.  Inside the United
States, Squire's hourly rates for associates, partners and
non-attorney personnel currently range from $130 for new associates
to $1,150 or higher for most senior partners and from $80 for new
project assistants to $420 for experienced senior paralegals, with
most non-attorney billing rates falling within the range of $180 to
$315 per hour. The following are the current rates for certain of
the attorneys expected to work on these cases: Stephen D. Lerner,
$970; Nava Hazan, $750; Elliot M. Smith, $545; Andrew M. Simon,
$490; and Peter Morrison, $400.

Squire received a total retainer of $400,000 from the Debtors prior
to the Petition Date.  A total of $247,228 was applied in payment
of a prepetition invoice.

As of the Petition Date, the Debtors have paid Squire in full for
all known fees, expenses, and other disbursements incurred prior to
the Petition Date.  However, Squire reserves the right to apply the
Retainer to any other prepetition fees, expenses, or disbursements
that may have accrued prior to the Petition Date but were not
discovered or otherwise accounted for until after the Petition
Date.

Based on the declaration of Stephen D. Lerner --
stephen.lerner@squirepb.com -- the Debtors believe that Squire does
not hold or represent an interest adverse to the Debtors' estates
and is a "disinterested person," as that term is defined in 11
U.S.C. Sec. 101(14) as modified by Sec. 1107(b), with respect to
the matters for which it is to be retained.

                         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,
with 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.


MJ HOLDINGS: Reports $64K Net Loss in First Quarter
---------------------------------------------------
MJ Holdings, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $64,000 on $133,000 of revenue for the
three months ended March 31, 2015, compared with a net loss of
$14,000 on $nil of revenue for the same period in 2014.

The Company's balance sheet at March 31, 2015, showed $3.36 million
in total assets, $2.09 million in total liabilities, and
stockholders' equity of $1.27 million.

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

                         http://is.gd/ouxJxl

MJ Holdings, Inc., acquires and leases real estate to licensed
marijuana operators, including but not limited to providing
complete turnkey growing space and related facilities to licensed
marijuana growers and dispensary owners.

The Company reported a net loss of $1.16 million on $108,900 of
rental income for the year ended Dec. 31, 2014, compared to a net
loss of $32,900 on $nil of rental income in 2013.

Paritz & Company, P.A., expressed substantial doubt about the
Company's ability to continue as a going concern, citing that there
is no guarantee that the Company will be able to raise additional
capital or sell any of its products or services at a profit.  The
Company also had an accumulated deficit of $1.34 million as of Dec.
31, 2014.

The Company's balance sheet at Dec. 31, 2014, showed $3.41 million
in total assets, $2.1 million in total liabilities, and
stockholders' equity of $1.32 million.



MOBILICITY: To Sell to Rogers for $355 Million
----------------------------------------------
Gerrit De Vynck, writing for Bloomberg News, reported that Rogers
Communications Inc., Canada's biggest wireless operator, agreed to
buy bankrupt rival Mobilicity for C$440 million ($355 million) to
boost service in the west of the country and southern Ontario.

In a press release dated June 24, 2015, Data & Audio-Visual
Enterprises Holdings Inc. and its affiliates, which include
Mobilicity, said the Sale Approval Motion, in regard to the sale
transaction between Mobilicity and Rogers Communications was
approved by Mr. Justice Frank Newbould of the Ontario Superior
Court of Justice (Commercial List).

According to the company statement, the Rogers Sale, whereby Rogers
Communications will purchase Mobilicity for a purchase price of
$465 million, subject to certain adjustments, is the best available
way to realize value for Mobilicity's stakeholders.

The Journal related that the deal, backed by Mobilicity creditors
Catalyst Capital Group Inc., will be offset by tax losses of about
C$175 million.  In addition, Rogers will pay C$100 million, as well
as downpayments, to complete a spectrum acquisition from Shaw
Communications Inc. and divest certain airwaves to Wind Mobile, the
Journal further related.

Pursuant to the Rogers Sale, Mobilicity's trade liabilities will
continue to be dealt with in the ordinary course, all employees,
dealers and other obligations will be assumed by Rogers
Communications and services for subscribers will continue
uninterrupted, the company statement said.  The transaction is
subject to approval by Industry Canada and the Competition Bureau.
Mobilicity intends to seek a vesting and distribution order on
Monday, June 29, 2015, the company added.

                 About Mobilicity (DAVE Wireless)

Mobilicity -- http://www.mobilicity.ca/-- Canada's smart mobile
carrier, was created to bring down the cost of wireless with
unlimited talk, text and data plans, affordable North American
coverage, plus popular handsets and smartphones -- without locking
customers into contracts or charging extra or hidden fees.  It was
formerly known as Data & Audio-Visual Enterprises Wireless Inc.
(DAVE Wireless).


NEONODE INC: Appoints Thomas Eriksson as President
--------------------------------------------------
The Board of Directors of Neonode Inc. designated Thomas Eriksson
as president of the Company in addition to his current title of
chief executive officer, according to a Form 8-K report filed with
the Securities and Exchange Commission.  

The Board also determined that Thomas Eriksson and Lars Lindqvist,
vice president, finance, chief financial officer, treasurer and
secretary, are the Company's only "executive officers" within the
meaning of Rule 3b-7 under the Securities Exchange Act of 1934, as
amended.

                         About Neonode Inc.

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

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

As of March 31, 2015, the Company had $8.19 million in total
assets, $6.39 million in total liabilities and $1.79 million in
total stockholders' equity.


NEUROTROPE INC: Incurs $2.37-Mil. Net Loss in First Quarter
-----------------------------------------------------------
Neurotrope, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $2.37 million on $nil of revenues for the
three months ended March 31, 2015, compared with a net loss of
$1.69 million on $nil of revenues for the same period last year.

The Company's balance sheet at March 31, 2015, showed $5.59 million
in total assets, $1.02 million in total liabilities, and a
stockholders' deficit of $11.7 million.

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

                        http://is.gd/xxtReZ

Neurotrope, Inc., operates as a clinical stage biopharmaceutical
and diagnostics company.  It focuses on developing and marketing
two product platforms, including a minimally-invasive diagnostic
test for Alzheimer's disease and a drug candidate, known as
bryostatin for the treatment of Alzheimer's disease, both of which
are in the clinical testing stage.  The company was founded in 2012
and is based in Newark, New Jersey.

The Company reported a net loss of $9.25 million for the year ended
Dec. 31, 2014, compared to a net loss of $7.59 million in the prior
year.

Friedman LLP expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company has
sustained recurring losses from operations, has significant
contractual commitments, and has not yet generated any revenues.

The Company's balance sheet at Dec. 31, 2014, showed $8.16 million
in total assets, $1.29 million in total liabilities, $18.5 million
in convertible redeemable preferred stock, and a stockholders'
deficit of $11.7 million.


NGPL PIPECO: S&P Lowers ICR to 'CCC', Outlook Negative
------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its issuer
credit and senior secured ratings on NGPL PipeCo LLC to 'CCC' from
'CCC+'.  The outlook is negative.  The recovery rating is unchanged
at '3'.  The '3' indicates "meaningful" (50% to 70%; lower half of
the range) expectation of principal recovery if a default occurs.

The downgrade stems from a combination of related factors.  During
the past two and a half years, NGPL's financial performance has
declined considerably due to reduced throughput on the Louisiana
Line.  This has stemmed from lower demand for Gulf Coast gas,
driven by sharply increased supply from the Marcellus and Utica
shale gas-producing areas.  Utilization rates have thus been below
our expectations, resulting in adjusted debt to EBITDA of more than
10x for the 12 months ended March 31, 2015.  S&P expects that
leverage will remain around this level through the end of the year.


"As a result, liquidity has continued to suffer, and we now believe
that the company may begin to rely on its revolving credit facility
to meet debt payments and maintenance-related capital spending,
potentially exhausting its cash and available credit in early 2016
under our base case," said Standard & Poor's credit analyst Michael
Ferguson.

Somewhat further out, S&P also anticipates that -- absent a marked
improvement in financial results -- the company will face
considerable refinancing risk during the latter part of 2017, with
a total of almost $2 billion of debt coming due.  Lenders have
waived financial covenants through the end of the second quarter of
2015.  S&P assumes that they will resume thereafter, at which point
the issuer could be in jeopardy of breaching these covenants,
though the company has a limited number of opportunities to remedy
breaches with equity cures.

Standard & Poor's bases its ratings on NGPL on its stand-alone
credit quality.  The rating does not address any credit risks of
its shareholders.  Myria Acquisition LLC (an unrated consortium of
investors) owns 80% of NGPL and Kinder Morgan Inc. (KMI) owns 20%.
S&P considers NGPL bankruptcy-remote from its owners, because a
bankruptcy filing requires near-unanimous approval and all
significant operating decisions require unanimous shareholder
approval.  As of March 31, 2015, NGPL had about $2.9 billion of
reported debt.

The negative outlook on NGPL reflects S&P's expectation that the
company will continue to face challenging business conditions,
leading to adjusted debt to EBITDA and EBITDA-to-interest ratios in
the 10x and 1.2x areas, respectively.  Its liquidity profile could
weaken further during 2015 due to continued market pressure, though
covenants have been temporarily lifted.



NIRVANA INC: Files Schedules of Assets and Liabilities
------------------------------------------------------
Nirvana, Inc., filed with the U.S. Bankruptcy Court for the
Northern District of New York its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $12,498,533
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $27,204,092
  E. Creditors Holding
     Unsecured Priority
     Claims                                        $2,336,390
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                        $5,978,347
                                 -----------      -----------
        Total                    $12,498,533      $35,518,829

A copy of the schedules is available for free at:

            http://bankrupt.com/misc/Nirvana_55_SAL.pdf

                         About Nirvana Inc.

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

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

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

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

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


OCEAN HARBOR: A.M. Best Alters 'bb+' ICR Outlook to Stable
----------------------------------------------------------
A.M. Best Co. has revised the outlook for the issuer credit rating
(ICR) to stable from negative and affirmed the financial strength
rating (FSR) of B (Fair) and the ICR of "bb+" of Ocean Harbor
Casualty Insurance Company (OHCIC) (headquartered in New York City,
NY) and its affiliates, Great Northwest Insurance Company (GNIC)
(St. Paul, MN) and Hawaiian Insurance and Guaranty Insurance
Company, Limited (HIG) (Honolulu, HI).  The outlook for the FSR
remains stable.

The revised outlook reflects OHCIC's trend of positive consolidated
five-year pre-tax operating performance, improved overall
capitalization and reduced net leverage, which includes the
five-year operating results of GNIC and HIG.  Operating
profitability was derived primarily from the group's conservative
bond portfolio that generated consistent investment income over the
latest period, which offset underwriting losses.  Additionally,
OHCIC has historically had favorable loss reserve development.

There may be positive future rating or outlook changes, if the
group generates sustained operating income that grows
policyholders' surplus and increases risk-adjusted capitalization
as reflected by Best's Capital Adequacy Ratio (BCAR).

However, there may be future potential negative rating actions if
the group's operating performance deteriorates and erodes
policyholders' surplus, or there is increased underwriting leverage
that causes a further decline in its risk-adjusted capitalization
as reflected in the BCAR score.


OCI BEAUMONT: S&P Affirms 'B+' Rating on $450MM Term Loan
---------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
issue-level rating on OCI Beaumont LLC's $450 million term loan
including a proposed $50 million add-on.  The company had
previously borrowed approximately $400 million under its term loan
B.  The proposed $50 million add-on is under the existing credit
agreement and terms and conditions remain unchanged.

S&P assumes an increase in emergence EBITDA to $70 million from $60
million in its simulated default assumptions as part of S&P's
recovery analysis.  This increase incorporates OCI Beaumont's
recent completion of a large capacity expansion project, which S&P
believes will increase the company's enterprise value on
emergence.

The ratings reflect S&P's assessment of the company's financial
risk profile as "significant" and business risk profile as
"vulnerable", as defined in S&P's criteria, which results in an
anchor score of 'b+'.  S&P lowered the initial rating outcome
(anchor) of 'b+' by 1 notch, under its financial policy modifier to
reach the 'B' corporate credit rating.  A key reason for this
outcome is S&P's view of the potential for OCI to participate in
its parent's growth initiatives in a manner that increases debt at
OCI.

RATINGS LIST

OCI Beaumont LLC
Corporate credit rating                    B/Stable/--

Issue-Level Rating Affirmed; Recovery Rating Unchanged
OCI Beaumont LLC
Secured term loan                         B+
  Recovery rating                          2L



ONE SOURCE: Says No Cause for Appointment of Trustee
----------------------------------------------------
One Source Industrial Holdings, LLC, et al., are opposing the U.S.
Trustee's motion for the appointment of a Chapter 11 trustee.  The
Debtor says:

   1. there is no cause to appoint a trustee;

   2. Scott Jordan, as the manager and majority owner of the
Debtors, is presumed to be innocent unless and until he is actually
convicted; and

   3. Mr. Jordan has relinquished control over the Debtors'
finances of both the Debtors and the operating affiliates.  Mark
Braux, the chief financial officer, has been designated as the sole
financial manager and oversees all of the funds and finances both
the Debtors and the operating affiliates.

William T. Neary, the U.S. Trustee, in his motion, stated that on
March 23, 2015, the U.S. Attorney for the Southern District of
Texas indicted the Debtors' managing member and 85% interest holder
Mr. Jordan for defrauding ExxonMobil of more than $5.5 million, and
the release conditions bar from controlling the Debtor and from
contacting employees outside the presence of an attorney.

                   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.



ORANGE COUNTY: S&P Raises Rating on 1998C Revenue Bonds to 'BB+'
----------------------------------------------------------------
Standard & Poor's Ratings Services raised its rating on Orange
County Housing Finance Authority, Fla.'s (Green Gables Apartments
project) series 1998C multifamily housing revenue bonds three
notches to 'BB+' from 'B+'.  The outlook is stable.

This action reflects Standard & Poor's view of continued
improvement in the project's financial position in recent years.

"Sustained improvement in operating performance may further enhance
the issue's credit quality," said Standard & Poor's credit analyst
Renee Berson.  "Conversely, any significant drop in debt service
coverage may lead to a lower rating."

The bonds are secured by revenues from the 95-unit Green Gables
Apartments (formerly the Alhambra Trance Apartments) project,
located in Orlando, Fla.



ORLANDO GATEWAY: Wants Access to Lenders' Cash Collateral
---------------------------------------------------------
Orlando Gateway Partners, LLC, asks the U.S. Bankruptcy Court for
the Middle District of Florida, Orlando Division, for authorization
to use the cash collateral in which Branch Banking & Trust, Nilhan
Financial, LLC, Good Gateway, LLC, and SEG Gateway, LLC, assert an
interest.

The Debtor would use the rents receivable for cash collateral to
pay ordinary and necessary expenses for the continuance its
business for the period from the Petition Date through December
2015.

As adequate protection from any diminution in value of the
collateral, the Debtor proposes to grant BB&T, Financial and any
other creditor a replacement lien on property acquired postpetition
to the same extent and with the same priority as the secured
creditor's prepetition lien.  Furthermore, the Debtor will grant
BB&T, Financial and any other creditor the right to inspect the
collateral, upon reasonable notice.

The Debtor is represented by:

         Kenneth D. (Chip) Herron, Jr., Esq.
         WOLFF, HILL, MCFARLIN & HERRON, P.A.
         1851 W. Colonial Dr.
         Orlando, FL 32804
         Tel: (407) 648-0058
         Fax: (407) 648-0681
         E-mail: kherron@whmh.com
                 kmaples@whmh.com

                         About Orlando Gateway
   
Nilhan Hospitality, LLC, and Orlando Gateway Partners, LLC
commenced Chapter 11 bankruptcy cases (Bankr. M.D. Fla. Case No.
15-03447 and 15-03448, respectively) in Orlando, Florida on April
20, 2015.  Chittranjan Thakkar, the manager, signed the
petitions.

Orlando Gateway, Orlando Sentinel states, is a $500 million retail
and residential complex -- which includes two restaurants, a
Bonefish Grill and Carraba's, and plans for additional commercial
and residential build out -- near Orlando International Airport.

Nilhan estimated $1 million to $10 million in assets and $10
million to $50 million in debt while Orlando Gateway estimated at
least $10 million in assets and debt.

The Debtors are represented by Kenneth D Herron, Jr., Esq., at
Wolff, Hill, McFarlin & Herron, P.A. 

According to the docket, the Debtors' Chapter 11 plan and
disclosure statement are due Aug. 18, 2015.


PBF HOLDING: Moody's Changes Outlook to Pos. & Affirms 'Ba3' CFR
----------------------------------------------------------------
Moody's Investors Service changed PBF Holding Company LLC's rating
outlook to positive from stable.  Moody's also affirmed PBF's Ba3
Corporate Family Rating (CFR), Ba3-PD Probability of Default
Rating, and Ba3 senior secured notes ratings following its
announced acquisition of the Chalmette refinery.

"PBF's positive rating outlook reflects the expected increase in
refining scale and geographic diversification, and the potential
for better crude sourcing and product distribution ability if the
Chalmette refinery acquisition closes as anticipated in 2015," said
Arvinder Saluja, Moody's Vice President.  "This acquisition builds
on PBF's four year track record of operating its existing three
refineries."

On June 19, 2015, PBF's parent, PBF Energy Inc. (PBF Energy),
announced that it has signed an agreement to purchase the Chalmette
refinery with 189,000 barrel per day (bbl/day) throughput capacity
from subsidiaries of ExxonMobil (Aaa stable) and Petroleos de
Venezuela, S.A. (Caa3 stable).  The $322 million purchase price
plus an estimated $300 million - $500 million of working capital
will be funded using a combination of cash and debt.  The
transaction is subject to customary closing conditions and
regulatory approvals, and is expected to close in the fourth
quarter of 2015.

RATINGS RATIONALE

Moody's could upgrade the ratings if PBF develops a longer track
record of profitable operations at the Delaware City refinery,
appears able to maintain RCF / debt above 50%, and demonstrates
financial and operational ability to manage environmental risks at
the Chalmette refinery after closing the acquisition.  Moody's
could downgrade the ratings if Chalmette or other acquisitions
materially increase business risk or decrease profitability, or if
RCF / debt is expected to decrease to below 10%.

Upon close of the acquisition, the Chalmette refinery will increase
PBF's total throughput capacity by 35% to 729,000 bbl/day and is
expected to be accretive to PBF's earnings and cash flow. The
addition of a dual-train coking refinery with a Nelson Complexity
of 12.7 will improve the company's weighted average Nelson
Complexity to 11.7 from 11.3.  The facility is located near New
Orleans, LA on the Gulf Coast adding a PADD III refinery to the
existing two PADD I refineries in Delaware City, DE and Paulsboro,
NJ and to the PADD II refinery in Toledo, OH.  This acquisition
will make PBF one of only two refiners with a presence in PADD I,
II, and III.  However, Moody's also notes the potential risk of
environmental liability at Chalmette as the sellers have not
provided indemnification beyond certain representations and
warranties in the purchase and sale agreement and as there is no
ceiling on the liability in the agreement.

PBF's Ba3 CFR reflects its scale, which is larger than other
refiners within the Ba rating category, potential increase in
geographic diversification with the Chalmette refinery acquisition,
an ability to process a high proportion of heavy and medium sour
crude on the East Coast and Gulf Coast and WTI-priced crude in the
Mid-Continent, low leverage relative to Ba refining peers, and a
seasoned management team with a strong industry track record prior
to joining PBF.  The rating is restrained by significant proportion
of cash flows from the highly competitive Northeast market, and the
current uncertainty pertaining to environmental liabilities at
Chalmette.

The principal methodology used in these ratings was Global Refining
and Marketing Rating Methodology published in December 2009.  Other
methodologies used include Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009.  PBF is an independent North American refining and
wholesale marketing company.



PENTON BUSINESS: S&P Revises Outlook to Positive & Affirms 'B' CCR
------------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised its rating
outlook on New York City-based business-to-business media company
Penton Business Media Holdings Inc. to positive from stable.  At
the same time, S&P affirmed its 'B' corporate credit rating on the
company.

S&P also revised its recovery rating on the company's senior
secured credit facility to '1' from '2' and subsequently raised the
issue-level rating to 'BB-' from 'B+'.  The '1' recovery indicates
S&P's expectation for very high recovery (90%-100%) of principal in
the event of a default.

"The outlook revision reflects Penton's continued successful
transition away from print-based advertising (which now represents
one-third of revenue, down from about 50% two years ago), its trade
show and digital products' continued organic growth, and its
improving EBITDA margin profile and lower adjusted leverage due to
EBITDA growth and debt repayments," said Standard & Poor's credit
analyst Jawad Hussain.

The positive rating outlook reflects S&P's expectation that
Penton's leverage will gradually moderate to about 5x as the
company continues to grow EBITDA and expand EBITDA margin by
shifting its business toward digital products and trade show events
while reducing print-based advertising revenue.

S&P could raise the rating on Penton if it become convinced that
the company can maintain consistent organic revenue and EBITDA
growth, with a stable or improving EBITDA margin, and lower
lease-adjusted debt leverage to about 5x while maintaining positive
discretionary cash flow.  This could occur if the company continues
to reduce its exposure to print advertising and becomes more
reliant on its higher-margin digital products and trade show
segments.  For an upgrade, the company would need to demonstrate a
commitment to a financial policy that keeps leverage at or below 5x
on a sustained basis.

S&P could revise the outlook to stable if the company pursues a
financial policy where adjusted leverage remains above 5.5x on a
sustained basis due to weaker-than-expected operating performance,
large debt financed acquisitions, or a debt-financed dividend to
its financial sponsors.



POW! ENTERTAINMENT: Reports $185K Net Income in First Quarter
-------------------------------------------------------------
POW! Entertainment, Inc., filed its quarterly report on Form 10-Q,
disclosing a net income of $186,000 on $753,000 of revenues for the
three months ended March 31, 2015, compared with a net loss of
$181,000 on $558,000 of revenue for the same period last year.

The Company's balance sheet at March 31, 2015, showed $1.20 million
in total assets, $5.80 million in total liabilities, and a
stockholders' deficit of $4.60 million.

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

                        http://is.gd/7U4Ari

POW! Entertainment, Inc., a multimedia production and licensing
company, creates and licenses animated and live-action fantasy and
superhero entertainment content and merchandise.  It develops
originally created franchises for new media, such as online digital
content and video games, as well as for traditional entertainment
media, such as feature length films in live action and animation,
DVD, live entertainment, television programming, merchandising, and
related ancillary markets.  The company was incorporated in 1998
and is based in Beverly Hills, California.

Rose, Snyder & Jacobs LLP expressed substantial doubt about the
Company's ability to continue as a going concern, citing that the
Company has incurred recurring net losses and has been reliant on
the annual cash flows from its contract with Silver Creek Pictures,
which expired in December 2014.

The Company's balance sheet at Dec. 31, 2014, showed $1 million in
total assets, $4.56 million in total liabilities, $1.23 million in
long term deferred compensation, and a stockholders' deficit of
$4.79 million.



PREMIER CONSTRUCTION: Bankruptcy Court's Fee Ruling Affirmed
------------------------------------------------------------
Senior District Judge WM. Terrell Hodges affirmed the bankruptcy
court's ruling on the applications for fees and expenses submitted
by four separate law firms in the case captioned In re: PREMIER
CONSTRUCTION GROUP, LLC, PREMIER CONSTRUCTION GROUP, LLC,
Appellant, v. AMY DENTON HARRIS, BRETT A. MEARKLE, JOEL S.
TREUHAFT, BUDDY D. FORD, and STICHTER RIEDEL BLAIN & PROSSER, P.A.,
Appellees, BR CASE NO. 3:11-BK-4441-JAF, CASE NO.
5:14-CV-175-OC-PRL (M.D. Fla., Ocala Div.).

The debtor in the completed Chapter 11 case sought a review of
separate orders disposing of fee and expense applications submitted
by the four law firms that sequentially represented the debtor
during the Chapter 11 proceeding.

In affirming the bankruptcy court, Judge Hodges held that the
debtor failed to demonstrate that the bankruptcy court abused its
substantial judicial discretion in deciding the attorney fees
without a hearing. He found that the records were sufficient to
enable the bankruptcy court to make an evaluation and there was no
clear error of judgment with respect to the amount awarded or the
manner in which the award was made.

A copy of the May 27, 2015 memorandum opinion is available at
http://is.gd/JyRJblfrom Leagle.com.

Premier Construction Group, LLC, In Re, represented by William
Edward Doyle, William E. Doyle, PA.

Premier Construction Group, LLC, Debtor, Appellant, represented by
William Edward Doyle, William E. Doyle, PA.

Amy Denton Harris, Esq., Appellee, represented by Michael J. Hooi
-- mhooi@srbp.com -- Stichter, Riedel, Blain & Prosser, PA &
Stephen D. Busey -- busey@smithhulsey.com -- Smith, Hulsey &
Busey.

Brett A. Mearkle, Appellee, represented by Brett A. Mearkle,
Mearkle & Trueblood & Adam.

Joel S. Treuhaft, Appellee, represented by Joel S. Treuhaft --
joel@palmharborlaw.com -- Palm Harbor Law Group, PA.

Buddy D. Ford, Appellee, represented by Buddy D. Ford, Buddy D.
Ford, PA.

Stichter Riedel Blain & Prosser, P.A., Appellee, represented by Amy
D. Harris -- aharris@srbp.com -- Stichter, Riedel, Blain & Prosser,
PA & Michael J. Hooi, Stichter, Riedel, Blain & Prosser, PA.

US Trustee, Trustee, represented by Elena L. Escamilla, US
Trustee's Office & Jill Ellen Kelso, US Trustee's Office.

Premier Construction Group, LLC filed for Chapter 11 bankruptcy
protection (Bankr. M.D. Fla. Case No. 11-04441) on June 16, 2011,
listing under $1 million in both assets and liabilities.  

A copy of the petition is available at
http://bankrupt.com/misc/flmb11-04441.pdf


PREMIER DENTAL: S&P Lowers CCR to 'CCC+', Outlook Negative
----------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit and
senior secured debt ratings on Premier Dental Services Inc. to
'CCC+' from 'B'.  The outlook is negative.  The recovery rating on
the senior secured debt remains a '3', indicating expectations of
meaningful (50% to 70%; at the lower end of the range) recovery in
a payment default.

"The downgrade reflects the deterioration in Premier Dental's
operating margins and credit measures, due to the continued
challenging reimbursement environment in its core markets, and the
need to receive a $10.4 million equity cure from its sponsor to
resolve an anticipated noncompliance with its financial covenant in
first-quarter 2015," said Standard & Poor's credit analyst Arthur
Wong.  S&P believes the company will find it difficult to increase
its EBITDA margin and cash flows in the next year.

Premier Dental and its affiliates operate about 190 dental care
offices in California, Arizona, and Nevada.  The company generates
approximately 90% of revenue in California.  Medicaid and other
government payments accounted for about 20% of Premier's revenue,
well above the 8% level for the total U.S. dental industry.  The
industry is extremely fragmented and highly competitive, with
relatively low barriers to entry. Premier's narrow focus, heavy
geographic concentration, and unfavorable payor mix relative to
other dental service providers characterize the company's
"vulnerable" business risk profile.

S&P's negative outlook reflects Premier's need to reverse operating
trends, its constrained liquidity, and its need to address
continued tight loan covenants.

Should Premier be unsuccessful in achieving efficiency improvements
that lead to improved margins and free cash flows, and without an
additional sponsor equity infusion, the company may breach
covenants, prompting a downgrade.

An upgrade would be predicated on Premier accelerating revenue
growth and generating a sustained improvement in margins and cash
flow generation, enabling a steady de-levering and restoration of
its cushion on its covenants.



PROSPECT PARK: Judge Extends Deadline to Remove Suits to July 6
---------------------------------------------------------------
U.S. Bankruptcy Judge Mary Walrath has given Prospect Park Networks
LLC until July 6, 2015, to file notices of removal of lawsuits
involving the company.

                   About Prospect Park Networks

Prospect Park Networks, LLC, a Los Angeles, Calif.-based talent and
management company, filed for Chapter 11 bankruptcy (Bankr. D. Del.
Case No. 14-10520) in Wilmington, on March 10, 2014, estimating $50
million to $100 million in assets, and $10 million to $50 million
in debts.  The petition was signed by Jeffrey Kwatinetz,
president.

William E. Chipman, Jr., Esq., and Mark D. Olivere, Esq., at
Cousins Chipman & Brown LLP, in Wilmington, Delaware; and John H.
Genovese, Esq., Michael Schuster, Esq., and Heather L. Harmon,
Esq., at Genovese Joblove & Battista, P.A., serve as the Debtor's
bankruptcy counsel.  The Debtor also hired Cohn Reznick LLP as an
ordinary course professional.

The U.S. Trustee for Region 3 selected three creditors to serve on
the Official Committee of Unsecured Creditors.  Cole, Schotz,
Meisel, Forman & Leonard, P.A., serves as the Committee's counsel.


QUICKSILVER RESOURCES: 'Challenge' Period Extended to Aug. 14
-------------------------------------------------------------
A federal judge approved an agreement which extends the deadline
for Quicksilver Resources Inc.'s official committee of unsecured
creditors to challenge claims of its pre-bankruptcy lenders.

The agreement, entered into by the committee, The Bank of New York
Mellon Trust Company N.A. and the administrative agents for the
lenders, extends the deadline to August 14, 2015.  

The agreement was approved by U.S. Bankruptcy Judge Laurie
Silverstein who oversees the Chapter 11 cases of Quicksilver
Resources and its affiliates.

On May 1, the company received final approval from the bankruptcy
judge to use the cash collateral of its pre-bankruptcy lenders to
fund its operations.  The final order also allowed the unsecured
creditors' committee to challenge claims of the lenders.

                    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.


QUICKSILVER RESOURCES: Files Schedules of Assets and Liabilities
----------------------------------------------------------------
Quicksilver Resources Inc. filed with the U.S. Bankruptcy Court for
the District of Delaware its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $23,455,277
  B. Personal Property          $741,946,209
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                            $1,098,174,135
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                      $976,022,953
                                 -----------      -----------
        Total                   $765,401,486   $2,074,197,088

A copy of the schedules is available for free at:

    http://bankrupt.com/misc/QuicksilverResources_384_SAL.pdf

                 About Quicksilver Resources Inc.

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.


QUICKSILVER RESOURCES: Gets More Time to Remove Suits
-----------------------------------------------------
U.S. Bankruptcy Judge Laurie Silverstein has given Quicksilver
Resources Inc. until Dec. 14, 2015, to file notices of removal of
lawsuits involving the company and its affiliates.

                    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.


RADIOSHACK CORP: Gets Approval to Assign 6 Store Leases to Spring
-----------------------------------------------------------------
RadioShack Corp. received approval from U.S. Bankruptcy Judge
Brendan Shannon to assign leases on six stores to Spring
Communications Holding Inc.

The court order requires the electronics retailer to complete the
assignment on or before June 30.  

Spring Communications offered $25,000 for each RadioShack store
lease.  The leases are for store numbers 2601, 3647, 3819, 4052,
8756 and 8815, according to court filings.

Spring Communications earlier withdrew its bid for the leases for
store numbers 1242, 2268, 2945, 3076, 3145, 3575, 3621, 3735, 4203,
8803, 9055 and 9533.

                  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: Salus Capital Blocks Plan Filing Extension Bid
---------------------------------------------------------------
Lender Salus Capital Partners, LLC, filed an objection to
RadioShack Corp., et al.'s motion to extend their exclusive periods
to file a Chapter 11 plan and solicit acceptances for that plan.

As reported by the Troubled Company Reporter on June 23, 2015, the
Debtors ask the U.S. Bankruptcy Court for the District of Delaware
to further extend (i) the period during which the Debtors have the
exclusive right to file a Chapter 11 plan through and including
July 6, 2015, and (ii) the period during which the Debtors have the
exclusive right to solicit acceptances thereof through and
including Sept. 4, 2015.

Salus Capital moved to convert the Debtors' Chapter 11 cases to on
under Chapter 7 on June 2, 2015.  

Salus Capital says that the Debtors have sold substantially all of
their assets and have no viable business to reorganize, yet the
Debtors continue to incur significant and unnecessary
administrative costs which jeopardize creditors' recoveries in
these cases.  Rather than voluntarily converting these cases to
Chapter 7 to conserve what little value remains for the benefit of
their creditors, the Debtors now seek to extend their exclusive
periods, Salus Capital states.

Salus Capital claims that even a short extension of the Debtors'
exclusive periods imposes risks and costs of delay that will be
borne by Salus Capital.  The Debtors, according to Salus Capital,
cannot demonstrate cause for an extension of exclusivity to pursue
an unnecessary and costly plan process that will diminish
creditors' recoveries in these cases.  

A copy of the objection is available for free at:

                        http://is.gd/lVhUqu

Salus Capital is represented by:

      Skadden, Arps, Slate, Meagher & Flom LLP
      Anthony W. Clark, Esq.
      Jason M. Liberi, Esq.
      One Rodney Square
      P.O. Box 636
      Wilmington, Delaware 19899-0636
      Tel: (302) 651-3000
      Fax: (302) 651-3001
      E-mail: anthony.clark@skadden.com
              jason.liberi@skadden.com

               and

      Skadden, Arps, Slate, Meagher & Flom LLP
      Jay M. Goffman, Esq.
      Mark A. McDermott, Esq.
      Christine A. Okike
      Four Times Square
      New York, New York 10036
      Tel.: (212) 735-3000
      Fax: (212) 735-2000
      E-mail: jay.goffman@skadden.com
              mark.mcdermott@skadden.com
              christine.okike@skadden.com

                  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: Judge Extends Deadline to Remove Suits
----------------------------------------------------------
U.S. Bankruptcy Judge Mary Walrath has given Reichhold Holdings US,
Inc. until Oct. 27, 2015, to file notices of removal of lawsuits
involving the company and its affiliates.

                          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.


RITE AID: Files Form 10-Q for Fiscal First Quarter
--------------------------------------------------
Rite Aid Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $18.8 million on $6.6 billion of revenues for the 13 week period
ended May 30, 2015, compared to net income of $41.4 million on $6.4
billion of revenues for the 13 week period ended May 31, 2014.

As of May 30, 2015, the Company had $10.5 billion in total assets,
$10.4 billion in total liabilities and $152.7 million in total
stockholders' equity.

                          Future Liquidity

"We are highly leveraged.  Our high level of indebtedness could:
(i) limit our ability to obtain additional financing; (ii) limit
our flexibility in planning for, or reacting to, changes in our
business and the industry; (iii) place us at a competitive
disadvantage relative to our competitors with less debt; (iv)
render us more vulnerable to general adverse economic and industry
conditions; and (v) require us to dedicate a substantial portion of
our cash flow to service our debt.  

Based upon our current levels of operations, we believe that cash
flow from operations together with available borrowings under the
revolving credit facility and other sources of liquidity will be
adequate to meet our requirements for working capital, debt service
and capital expenditures at least for the next twelve months
(including if the acquisition of EnvisionRx occurs).  Based on our
liquidity position, which we expect to remain strong throughout the
year, we do not expect to be subject to the fixed charge covenant
in our senior secured credit facility in the next twelve months.
We will continue to assess our liquidity position and potential
sources of supplemental liquidity in light of our operating
performance, and other relevant circumstances.  From time to time,
we may seek deleveraging transactions, including entering into
transactions to exchange debt for shares of common stock, issuance
of equity (including preferred stock and convertible securities),
repurchase or redemption of outstanding indebtedness, or seek to
refinance our outstanding debt (including our revolving credit
facility) or may otherwise seek transactions to reduce interest
expense and extend debt maturities.  Any of these transactions
could impact our financial results," the Company said in the
report.

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

                        http://is.gd/mKAqxz

                        About Rite Aid Corp.

Rite Aid is a drugstore chain with 4,570 stores in 31 states and
the District of Columbia.

The Company disclosed in its annual report for the year ended
Feb. 28, 2015, that it is highly leveraged.  Its substantial
indebtedness could limit cash flow available for its operations and
could adversely affect its ability to service debt or obtain
additional financing if necessary.

                           *     *     *

In March 2015, Moody's Investor Service confirmed its 'B2'
Corporate Family Rating of Rite Aid.  The confirmation reflects
Moody's expectation that Rite Aid will maintain debt to EBITDA
below 7.0 times after closing the acquisition of Envision
Pharmaceutical Holdings, Inc.

As reported by the TCR on Oct. 2, 2013, Standard & Poor's Ratings
Services said it raised its ratings on Rite Aid, including the
corporate credit rating, which S&P raised to 'B' from 'B-'.

In April 2014, Fitch Ratings upgraded its ratings on Rite Aid,
including its Issuer Default Rating to 'B' from 'B-'.  The upgrades
reflect the material improvement in the company's operating
performance, credit metrics and liquidity profile over the past 24
months.


ROADRUNNER ENTERPRISES: Coldwell Banker OK'd as Real Estate Broker
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia
authorized Roadrunner Enterprises Inc., to employ Coldwell Banker
Dew Realty Inc. as real estate broker.

In connection with the Bankruptcy Case, the Debtor seeks to sell
certain of the real property through a variety of auctions and
tradition sale methods.

Coldwell Banker will market and sell the Debtor's real property.

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

                   About Roadrunner Enterprises

Headquartered in Chesterfield County, Virginia, Roadrunner
Enterprises Inc. owns the Roadrunner Campground and more than 70
rental properties, lots, and other real estate interests.

Roadrunner Enterprises filed for Chapter 11 bankruptcy protection
(Bank. E.D. Va. Case No. 15-30604) on Feb. 6, 2015.  The petition
was signed by Carl Adenauer, president.  David K. Spiro, Esq., at
Hirschler Fleischer, P.C., serves as the Debtor's counsel.  Judge
Kevin R. Huennekens presides over the case.  The Debtor estimated
assets and liabilities of at least $10 million.



ROADRUNNER ENTERPRISES: Motleys Auction Approved as Auctioneer
--------------------------------------------------------------
The Hon. Kevin Huennekens of the U.S. Bankruptcy Court for the
Eastern District of Virginia authorized Roadrunner Enterprises,
Inc., to employ Motley's auction t/a Motleys Asset Disposition
Group as auctioneer.

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

Towne Bank, in its response, said that it supports the Debtor's
plan to sell real property, but would like clarification on how
these sales will be conducted before the Court grants Debtor's
application, as no motion to sell has been filed.  

Towne Bank pointed out that the application stated that Motley's
will receive a commission of 10%, which is higher than appropriate
given the circumstances of the case.  Further, it said that the
application does not clarify if the commission would be paid
through a buyer's premium and would be netted from auction price.
The application states that Debtor proposes to pay a broker's
commission of 3%, but the application is not clear if the is part
of Motley's proposed 10% commission, Towne Bank pointed out.

The Bank of Southside Virginia joined in the response and
reservation of rights of Bank of McKenney and TowneBank to the
Debtor's application.

As reported in the TCR on April 21, 2015, the Debtor has tapped
Motley's to market and auction certain parcels of the real
property.  The Debtor agrees to pay Motleys a commission of 10%,
with such commission due and payable at closing without further
need for Bankruptcy Court approval.  Motleys will also be entitled
to reimbursement for advertising expenses from the sales proceeds.

BSV is the holder of numerous claims secured by security interests
in various parcels of real property located in Chesterfield County,
Sussex County and the City of Hopewell, Virginia.  The total of
these claims is approximately $2,038,726 plus interest, fees and
costs.

                   About Roadrunner Enterprises

Headquartered in Chesterfield County, Virginia, Roadrunner
Enterprises Inc. owns the Roadrunner Campground and more than 70
rental properties, lots, and other real estate interests.

Roadrunner Enterprises filed for Chapter 11 bankruptcy protection
(Bank. E.D. Va. Case No. 15-30604) on Feb. 6, 2015.  The petition
was signed by Carl Adenauer, president.  David K. Spiro, Esq., at
Hirschler Fleischer, P.C., serves as the Debtor's counsel.  Judge
Kevin R. Huennekens presides over the case.  The Debtor estimated
assets and liabilities of at least $10 million.



SALON MEDIA: Reports Strong Increase in Traffic in 2015
-------------------------------------------------------
Salon Media Group, Inc. announced its results for the twelve months
ended March 31, 2015.

A key component of Salon's business strategy has been to drive
audience growth across Salon's platforms on desktop, tablet and
mobile because achieving scale should increase the Website's
attractiveness to advertisers.  For the fiscal year 2015, unique
visitors to the Salon.com Website averaged 17 million per month
according to data compiled by Google Analytics, which is a 52%
increase from an 11.2 million average in fiscal year 2014.
According to comScore Media Metrix (U.S. only, includes mobile),
fiscal year 2015 unique visitors increased 40% to 12.9 million per
month, compared to 9.2 million in March 2014.  Subsequent to the
fiscal yearend, Salon reached a new traffic milestone in April
2015, when it recorded monthly users for the Salon.com website of
19.3 million users, as measured by Google Analytics, and 14.5
million users as measured by comScore.

Salon continues to experience strong increases in mobile browser
traffic, which grew 59% in the March 2015 quarter as compared to
the same quarter last year.  The Company continues to see a
significant shift to users accessing Salon from mobile devices,
with 59% of users visiting the Website from mobile devices in March
2014.

Salon's traffic has also been fuelled by social media referral
traffic, which grew 37% in March 2015 compared to March 2014.
Facebook continues to be the largest social media referral, growing
56% compared to March 31, 2014.  At the fiscal year end of March
2015, the Company surpassed 718,000 Facebook "likes" and 479,000
Twitter followers, and during the fiscal year launched on visual
platforms Tumblr, Instagram and Snapchat.

"The continued traffic growth, especially from mobile devices and
social referrers, speaks to the type of high quality content that
has allowed us to retain our core users as well as attract new
ones," said Cynthia Jeffers, CEO of Salon Media Group.  "As we look
to the next fiscal year, our focus is on creating a video offering
to enable us to dive deeper into stories via multimedia we believe
will be embraced by both users and advertisers."

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

                         http://is.gd/pNZQHS

                          About Salon Media

San Francisco, Calif.-based Salon Media Group (OTC BB: SLNM.OB)
-- http://www.Salon.com/-- is an online news and social
networking company and an Internet publishing pioneer.

Salon Media reported a net loss of $3.9 million on $4.9 million of
net revenues for the year ended March 31, 2015, compared to a net
loss of $2.2 million on $6 million of net revenues for the year
ended March 31, 2014.

As of March 31, 2015, the Company had $1.6 million in total assets,
$8.2 million in total liabilities and a $6.6 million total
stockholders' deficit.

Burr Pilger Mayer, Inc., in San Francisco, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended March 31, 2015, citing that  the
Company has suffered recurring losses and negative cash flows from
operations and has an accumulated deficit of $122.6 million as of
March 31, 2015.  These conditions raise substantial doubt about its
ability to continue as a going concern.


SEADRILL LTD: Bank Debt Trades at 20% Off
-----------------------------------------
Participations in a syndicated loan under which Seadrill Ltd. is a
borrower traded in the secondary market at 79.61 cents-on-the-
dollar during the week ended Friday, June 12, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
the June 17, 2015, edition of The Wall Street Journal.  This
represents a decrease of 1.14 percentage points from the previous
week, The Journal relates. Seadrill Ltd. pays 300 basis points
above LIBOR to borrow under the facility.  The bank loan matures on
February 17, 2021, and carries Moody's Ba3 rating and Standard &
Poor's BB- rating.  The loan is one of the biggest gainers and
losers among 263 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.


SEBRING SOFTWARE: Defaults on $20.8-Mil. in Notes and Term Loan
---------------------------------------------------------------
Sebring Software, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $1.31 million on $5.25 million of revenues
for the three months ended March 31, 2015, compared with a net loss
of $780,000 on $5.11 million of revenues for the same period last
year.

The Company's balance sheet at March 31, 2015, showed $19.4 million
in total assets, $35.0 million in total liabilities, and a
stockholders' deficit of $15.6 million.

As of March 31, 2015 there was a working capital deficit of $20.9
million, an accumulated deficit of $26.9 million and a
stockholders' deficit of $17.8 million.  Furthermore, because the
Company was unable to make the required principal and interest
payments under its term loan and a number of notes payable, it was
in potential default (subject to lender notifying the Company of
default) on approximately $17.3 million in principal and $3.5
million in accrued interest as of March 31, 2015.  The Company is
working with its creditors and potential investors to restructure
its debt and provide financing to fund expansion through
acquisition of additional dental practices, however as of the date
of the report there are no such agreements in place.  These matters
raise substantial doubt about the Company's ability to continue as
a going concern.

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

                        http://is.gd/xbGFfs

Sarasota, Fla.-based Sebring Software, Inc., is a provider of
dental (primarily orthodontic) management services, based in
Sarasota, Florida.  The Company has 38 affiliated practices in
Florida and Arizona.


SHASTA ENTERPRISES: Trustee Demands Disclosures From Gen. Partners
-------------------------------------------------------------------
Hank M. Spacone, the Chapter 11 trustee for Shasta Enterprises,
requested that the U.S. Bankruptcy Court for the Eastern District
of California compel Antonio Rodriguez, Jr. and Lorraine Rodriguez,
the Debtor's general partners, to file with the Court a complete
disclosure of the general partners' assets and liabilities by July
10, 2015.

According to the Trustee, if it is determined that there are
insufficient assets to pay the Debtor's creditors in full,
disclosure of the general partners' assets and liabilities is
necessary to determine the minimum amount creditors would receive
in a chapter 7 liquidation of the Debtor Shasta Enterprises for
purposes of evaluating possible Chapter 11 plans of
reorganization.

The Trustee intends to file a Plan and Disclosure Statement by the
end of July 2015.

The Trustee is represented by:

         Donald W. Fitzgerald, Esq.
         Jason E. Rios, Esq.
         Holly A. Estioko, Esq.
         FELDERSTEIN FITZGERALD WILLOUGHBY & PASCUZZI LLP
         400 Capitol Mall, Suite 1750
         Sacramento, CA 95814
         Tel: (916) 329-7400
         Fax: (916) 329-7435
         E-mails: dfitzgerald@ffwplaw.com
                  jrios@ffwplaw.com
                  hestioko@ffwplaw.com

                     About Shasta Enterprises

Redding, California-based Shasta Enterprises, dba Vidal Vineyards,
dba Silverado Knolls, dba Villa Vidal Vineyards, sought bankruptcy
protection (Bankr. E.D. Cal. Case No. 14-30833) on Oct. 31, 2014.
The petition was signed by Antonio Rodriguez, general partner.

Judge Michael S. McManus presides over the case.  The Debtor's
counsel is David M. Brady, Esq., at Law Office of Cowan & Brady, in
Redding, California.

The Debtor listed total assets of $33.42 million and total debts of
$21.49 million.  

The Court, on Dec. 29, 2014, approved the appointment of Hank
Spacone as the Chapter 11 trustee of the Debtor's estate.



SNOHOMISH COUNTY: Moody's Affirms B1 Rating on $17.2MM LTGO Bonds
-----------------------------------------------------------------
Moody's Investors Service has affirmed the B1 rating on Snohomish
County Public Hospital District 1 (Valley General), Washington's
limited tax general obligation (LTGO) bonds.  Moody's has revised
the outlook to positive from negative.  The rating action affects
$17.2 million of debt outstanding.

SUMMARY RATING RATIONALE

Affirmation of the B1 rating reflects the district's weak financial
profile, which has been challenged by declining patient volumes
that have contributed to negative operating margins and weak
internal cash levels.  The district's further integration into a
strategic alliance with the much stronger EvergreenHealth is a
positive, providing financial stability through shared management,
strategy and use of resources.  The district's tax base is
recovering and a recent levy increase has significantly improved
debt service coverage, but the rating remains pressured by a
negative operating trajectory that has eroded the district's
financial position to date and, while indicating signs of
improvement lately, leaves little capacity for further negative
performance.

OUTLOOK

The positive outlook reflects our view that near-term operations
will stabilize given an improved trend in patient volumes
year-to-date and ongoing integration into, and financial support
provided by, the strategic affiliation with EvergreenHealth.
However, Moody's expects a reversal of the recent financial
imbalance and evidence of a more stable operating profile to emerge
relatively gradually.  A rebound in property values, expanded debt
service coverage and improved tax rate headroom exert upward
pressure on the LTGO rating.

WHAT COULD MAKE THE RATING GO UP

-- Sustained trend of structurally balanced operations

-- Significant improvement in liquidity and operating margin

WHAT COULD MAKE THE RATING GO DOWN

-- Depletion of assets and liquidity

OBLIGOR PROFILE

The district's primary facilities include the Valley General
Hospital, an acute care facility licensed for 72 beds, and the
Valley General Addiction Recovery Center, licensed for 8 detox and
32 residential treatment facility beds, both located in the City of
Monroe.  The hospital is located 15 miles southeast of Everett and
20 miles northeast of Kirkland (Aa2).

LEGAL SECURITY

The bonds are secured by the district's limited tax general
obligation (LTGO) pledge.  The bonds are payable on parity with
other unsecured claims against the district's resources, such as
employee wages, trade payables, and capital and operating lease
payments.  The LTGO security does not benefit from a priority
lien.

USE OF PROCEEDS

N/A

PRINCIPAL METHODOLOGY

The principal methodology used in this rating was US Local
Government General Obligation Debt published in January 2014.  The
additional methodology used in this rating was Not-for-Profit
Healthcare Rating Methodology published in March 2012.



SPJST: A.M. Best Alters 'bb' ICR Outlook to Positive
----------------------------------------------------
A.M. Best Co. has revised the issuer credit rating (ICR) outlook to
positive from stable and affirmed the financial strength rating
(FSR) of B (Fair) and the ICR of "bb" of SPJST (Temple, TX).  The
outlook for the FSR remains stable.

The positive outlook reflects increasing risk-adjusted
capitalization, a return to positive earnings, improvements in
SPJST's business mix and enhancements to the nascent enterprise
risk management (ERM) program.  Continued increases in unassigned
funds, along with reduced allocations to higher risk assets in the
investment portfolio, have led to increases in risk-adjusted
capital in recent years.  The society has reported generally
positive earnings as the life and annuity segments have been
profitable, but are offset by large fraternal expenses.  SPJST has
moderated its annuity production in recent years due to the low
interest rate environment, as well as adjusted the policy features,
in order to reduce the society's risk profile and improve the
premium mix.  A.M. Best would need to see continued progress in
SPJST's ERM for further positive rating action to occur.

Offsetting these positive rating factors are SPJST's narrow
business profile and high concentration risk.  SPJST operates
solely in the state of Texas, exposing the company to geographic
concentration and increased sensitivity to regulatory changes and
economic events.  The society also has some concentration within
the investment portfolio, as demonstrated by several large
fixed-income holdings in the financial sector.  The majority of the
society's product reserves are related to interest-sensitive fixed
annuities with relatively high guaranteed crediting rates and low
surrender charge protection, exposing the society to spread
compression if interest rates remain low and disintermediation if
rates rise rapidly.


SS&C TECHNOLOGIES: Moody's Affirms B1 CFR & Alters Outlook to Pos.
------------------------------------------------------------------
Moody's Investors Service affirmed SS&C Technologies Holdings,
Inc.'s (SS&C) B1 Corporate Family Rating (CFR), B1-PD Probability
of Default Rating (PDR) and the (P)Ba3 and (P)B3 ratings for the
its senior secured credit facilities and senior unsecured notes,
respectively.  Moody's changed SS&C and its subsidiaries' ratings
outlook to positive, from stable, following the company's
announcement that it will raise $650 million in proceeds from
equity offering of its common stock, $250 million higher than
previously expected.  SS&C will use net proceeds from $3.1 billion
of new debt issuances and the equity offering to finance its
pending acquisition of Advent Software, Inc., and for general
corporate purposes.

RATINGS RATIONALE

The positive outlook reflects SS&C's robust liquidity and Moody's
view that SS&C will have ample flexibility to reduce debt at an
accelerated pace and maintain capacity to fund moderate size
acquisitions.

The B1 CFR reflects SS&C's elevated financial risk over the next 12
to 18 months and management's high financial risk tolerance and
acquisitive growth strategy.  The acquisition of Advent will
increase SS&C's operating scale and the combination of Advent's
software offerings with SS&C's software-enabled-services will
generate cross-selling opportunities to a combined base of over
10,000 customers.  However, SS&C's leverage at the close of the
acquisition will be about 6.4x (Moody's adjusted, total debt to
EBITDA), before including approximately $46 million of planned cost
savings that will be fully reflected in the earnings only over the
next 3 years.  Depending upon the levels of voluntary debt
repayment and spending on acquisitions, Moody's expects that SS&C's
total debt to EBITDA will decline to 4.5x over the next 18 to 24
months, and its financial risk will remain elevated over this
period while the company will be integrating its largest
acquisition to date.

At the same time, both SS&C and Advent generate very good levels of
free cash flow and a high proportion of the pro forma revenues are
recurring.  Moody's believes that targeted synergies of $45 million
are achievable and the company has a good track record of
integrating a number of acquisitions and reducing debt.  The B1 CFR
is supported by Moody's expectations that SS&C should produce
revenue growth of at least 5% and free cash flow of about 10% of
total debt over the next 12 to 18 months.

The SGL-1 liquidity rating reflects SS&C's very good liquidity
comprising cash balances, projected free cash flow and borrowing
capacity under the new $150 million revolving credit facility.

Moody's could raise SS&C's ratings if the company maintains good
revenue growth, free cash flow increases to about 13% to 15% of
total debt, and Moody's believes that total debt to EBITDA (Moody's
adjusted) could be sustained below 4.5x, including capacity to fund
moderate size acquisitions.

Moody's could downgrade SS&C's ratings if financial policies become
more aggressive or revenue and earnings growth falters such that
total debt to EBITDA is expected to be sustained above 5.5x
(Moody's adjusted) or free cash flow below 5% of total debt.

Moody's has affirmed these ratings:

Issuer: SS&C Technologies Holdings, Inc.

  Corporate Family Rating, B1
  Probability of Default Rating, B1-PD
  New Senior Unsecured Notes, (P)B3 (LGD 6)
  Speculative Grade Liquidity, SGL-1

Issuer: SS&C Technologies, Inc.

  New $150 million Senior Secured Revolving Credit Facility,
   (P)Ba3 (LGD 3)
  New $1,820 million Senior Secured Term Loan Facility,
   (P)Ba3 (LGD 3)

Issuer: SS&C Technologies Holdings Europe S.a.r.l.

  New $160 million Senior Secured Term Loan Facility,
   (P)Ba3 (LGD 3)

Issuer: SS&C European Holdings S.a.r.l.

  New $40 million Senior Secured Term Loan Facility,
   (P)Ba3 (LGD 3)
  New $460 million Senior Secured Term Loan Facility,
   (P)Ba3 (LGD 3)

Outlook Actions:

Issuer: SS&C Technologies Holdings, Inc.
  Outlook, Changed to Positive, from Stable

Issuer: SS&C Technologies, Inc.
  Outlook, Changed To Positive, from Stable

Issuer: SS&C Technologies Holdings Europe S.a.r.l.
  Outlook, Changed To Positive, from Stable

Issuer: SS&C European Holdings S.a.r.l.
  Outlook, Changed to Positive, from Stable

Headquartered in Windsor, CT, SS&C provides software products and
software-enabled services mainly to customers in the institutional
asset management, alternative asset management, alternative
investment management and financial institutions vertical markets.



STANDARD REGISTER: 400 Jobs Eliminated in Six Months
----------------------------------------------------
Joe Cogliano at Dayton Business Journal reports that in the last
six months, Standard Register Co. let go of more than 80 of its
Dayton workers and 400 of its workers company wide.  Business
Journal says that as of June 22, 2015, the Company has 765 workers
in Dayton and 3,200 workers company wide.

According to Business Journal, officials say the decline in
employment from last year is mostly a result of attrition.  The
report states that the Company implemented a hiring freeze prior to
its bankruptcy filing in March and has not filled some vacant
positions.

                      About Standard Register

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

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

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

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


SWIFT ENERGY: S&P Assigns 'B+' Rating on $640MM Sr. Sec. Loan
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' issue-level
rating to Swift Energy Co.'s proposed $640 million senior secured
term loan due 2020.  The recovery rating on the proposed term loan
is '1', indicating S&P's expectation of very high (90% to 100%)
recovery in the event of payment default.

S&P placed the 'CCC+' issue-level ratings on the company's senior
unsecured notes on CreditWatch with negative implications.  The
recovery rating is '5', indicating S&P's expectation of modest (10%
to 30%; lower half of the range) recovery in the event of a payment
default.  However, S&P will likely lower the issue-level and
recovery ratings if the company completes the proposed transaction,
reflecting the impact of more senior debt obligations.

At the same time, S&P revised the rating outlook to negative from
stable and affirmed the 'B-' corporate credit rating on the
company.

"The negative rating outlook on Swift Energy reflects the
possibility that leverage could deteriorate beyond our current
expectations, remaining at levels we would view as unsustainable in
2016," said Standard & Poor's credit analyst John Rogers.

Swift Energy announced a proposed $640 million senior secured term
loan with plans to use proceeds to repay outstanding borrowings
under its existing credit facility, as well as for general
corporate purposes.  Upon closing of the proposed transaction S&P
expects the existing credit facility will be retired.  The proposed
transaction will improve near-term liquidity, as cash is added to
the balance sheet.  However, S&P expects leverage to increase
substantially and remain high for the rating over the next one to
two years as the company outspends operating cash flows.

S&P assess Swift Energy's business risk profile as "weak," the
financial risk profile as "highly leveraged," and liquidity as
"adequate," as defined in S&P's criteria.

S&P could lower the rating if it no longer expected leverage to
improve in 2016, which would most likely occur if capital spending
exceeded S&P's estimates without an improvement in margins or if
Swift were unable to meet S&P's production expectations.  In
addition, if the company were unable to complete the proposed
transaction then S&P could consider lowering the rating if
liquidity deteriorated, which would most likely be due to reduced
availability under the existing credit facility.

S&P could consider revising the outlook to stable if Swift Energy
were able to bring and maintain FFO to debt above 12% for a
sustained period, which would most likely occur if the company sold
noncore assets and used proceeds to reduce debt.



TRANSGENOMIC INC: Plans to Launch Liquid Biopsy Cancer Test
-----------------------------------------------------------
Transgenomic, Inc., is planning to launch up to six new genetic
cancer tests this year based on its Multiplexed ICE COLD-PCR
(MX-ICP) technology.  The new tests will focus on actionable
genetic mutations and alterations in patients with melanoma,
non-small cell lung cancer and colorectal cancer, and will include
both single tests and multi-gene panels.  Transgenomic's MX-ICP
technology has demonstrated exceptional sensitivity and accuracy
using either standard tissue or liquid biopsy samples such as blood
and plasma.  The tests are expected to be available for diagnostic
use through Transgenomic's CLIA-certified laboratory.

"We are ahead of schedule in commercializing our pipeline of
laboratory-based cancer tests to meet the growing demand for
targeted and personalized cancer treatments," said Paul Kinnon,
president and chief executive officer of Transgenomic.  "The
unsurpassed accuracy of our Multiplexed ICE COLD-PCR technology and
its ability to produce highly sensitive and accurate results from
small amounts of virtually any type of patient sample enable its
broad use for tumor detection and monitoring.  The fact that MX-ICP
is a platform technology is also facilitating the rapid development
of our pipeline.  We intend to release two or three new single and
panel tests per quarter for the remainder of this year, focusing on
the two most prevalent cancers--colorectal and lung, as well as
melanoma, which is especially amenable to targeted therapies."

Transgenomic's current product pipeline includes additional
MX-ICP-based patient tests for clinically-relevant actionable
mutations such as EGFR mutations, colorectal cancer mutations,
NSCLC and melanoma resistance, colorectal cancer prognosis and
NSCLC plasma monitoring.

Multiplexed ICE COLD-PCR identifies tumor mutations with up to a
500-fold increase in sensitivity over conventional methods and with
the most precise sequence alteration detection rates
available--down to 0.01% frequency from as little as 4-5 ml of
plasma sample, making it possible to obtain accurate and sensitive
biopsies using either liquid or tissue specimens.  ICE COLD-PCR was
originally developed by the laboratory of Dr. Mike Makrigiorgos at
the Dana-Farber Cancer Institute, which has exclusively licensed
rights to the technology to Transgenomic.

                         About Transgenomic

Transgenomic, Inc. -- http://www.transgenomic.com/-- is a global  

biotechnology company advancing personalized medicine in
cardiology, oncology, and inherited diseases through its
proprietary molecular technologies and world-class clinical and
research services.  The Company is a global leader in cardiac
genetic testing with a family of innovative products, including
its C-GAAP test, designed to detect gene mutations which indicate
cardiac disorders, or which can lead to serious adverse events.
Transgenomic has three complementary business divisions:
Transgenomic Clinical Laboratories, which specializes in molecular
diagnostics for cardiology, oncology, neurology, and mitochondrial
disorders; Transgenomic Pharmacogenomic Services, a contract
research laboratory that specializes in supporting all phases of
pre-clinical and clinical trials for oncology drugs in
development; and Transgenomic Diagnostic Tools, which produces
equipment, reagents, and other consumables that empower clinical
and research applications in molecular testing and cytogenetics.
Transgenomic believes there is significant opportunity for
continued growth across all three businesses by leveraging their
synergistic capabilities, technologies, and expertise.  The
Company actively develops and acquires new technology and other
intellectual property that strengthens its leadership in
personalized medicine.

Transgenomic reported a net loss available to common stockholders
of $15.1 million in 2014, a net loss available to common
stockholders of $16.7 million in 2013 and a net loss available to
common stockholders of $8.98 million in 2012.

As of March 31, 2015, the Company had $34.5 million in total
assets, $24.4 million in total liabilities and $10 million in
total stockholders' equity.

Ernst & Young LLP, in Hartford, Connecticut, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has recurring
losses from operations that raise substantial doubt about its
ability to continue as a going concern.


UNITED SURGICAL: S&P Affirms 'B' CCR then Withdraws on Acquisition
------------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on U.S.-based surgery center operator United Surgical
Partners International Inc. (USPI) after Tenet Healthcare Corp.
announced that it has completed its acquisition of a majority stake
in the company.  The outlook is stable.  The affirmation is based
on S&P's view that USPI is a core subsidiary of Tenet Healthcare
Corp. (also B/Stable/--) and as a result, the ratings have been
equalized.  S&P subsequently withdrew the 'B' corporate credit
rating on USPI, along with the issue-level ratings on its debt. All
of USPI's rated debt was repaid.


VANTAGE DRILLING: S&P Lowers Corporate Credit Rating to 'CCC'
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Houston-based Vantage Drilling Co. to 'CCC' from 'B-'. At
the same time, S&P lowered its issue-level rating on the company's
secured debt to 'CCC' from 'B-'.  The recovery rating on the debt
remains '3', indicating S&P's expectation of meaningful (50% to
70%, higher end of the range) recovery in the event of a payment
default.

The downgrade follows Vantage's announcement that it has retained
Lazard Freres & Co. to assist in reviewing financing and strategic
opportunities.  The company's debt trades substantially below par
value and S&P believes that the company could consider a distressed
exchange, which S&P would view as tantamount to default.

"The negative outlook reflects the potential for a downgrade if the
company announced a distressed exchange," said Standard & Poor's
credit analyst Stephen Scovotti.

S&P could lower the rating if the company announced a distressed
exchange of its debt.

S&P could consider a positive rating action if it no longer
believed the company would consider a distressed exchange.



VERIFONE SYSTEMS: S&P Raises CCR to 'BB', Outlook Stable
--------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on San Jose, Calif.-based VeriFone Systems Inc. to
'BB' from 'BB-'.  The outlook is stable.

At the same time, S&P raised its issue-level ratings on the
company's first-lien credit facilities to 'BB+' from 'BB' as a
result of the upgrade.  The recovery ratings remain '2,' indicating
S&P's expectation for substantial (70% to 90%; upper half of the
range) recovery in the event of a payment default.

"We base the upgrade primarily on the company's improved credit
metrics, supported by revenue and earnings growth and steady
decline in adjusted leverage (net of surplus cash) over the past
year to the mid-2x area as of April 30, 2015," said Standard &
Poor's credit analyst Jenny Chang.

The stable outlook reflects S&P's expectation that VeriFone's
shared leading position in the global payment systems markets will
translate into healthy revenue growth and EBITDA expansion, such
that adjusted leverage will remain between 2x and 3x over the
coming year.

S&P could lower the ratings if increased competition or adoption of
alternative payment technologies result in weak operating
performance, or an aggressive financial policy including large
debt-financed acquisitions, leading to adjusted leverage sustained
above 3x.

Ratings upside is constrained by the company's scale, narrow
product focus, and a largely hardware-centric revenue base.



VERMILLION INC: Stockholders Elect Eight Directors
--------------------------------------------------
Vermillion, Inc., held its annual meeting of stockholders on
June 18, 2015, at which the stockholders:

   (1) elected James S. Burns, Veronica G.H. Jordan, Ph.D.,
       James T. LaFrance, Valerie B. Palmieri, Peter S. Roddy,
       David R. Schreiber, Carl Severinghaus and Eric Varma, M.D.
       as directors each to serve until his/her successor is duly
       elected and qualified;

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

   (3) approved the second amendment of the Company's
       Amended and Restated 2010 Stock Incentive Plan; and

    4) ratified the Board's selection of BDO USA, LLP as the
       Company's independent registered public accounting firm for
       the fiscal year ending Dec. 31, 2015.

The Plan Amendment (i) increased the number of shares of the
Company's common stock available for issuance under the Amended
Plan from 3,622,983 shares to 8,122,983 shares, (ii) increased the
maximum number of shares with respect to which stock options or
stock appreciation rights, or a combination thereof, may be granted
during any fiscal year of the Company to any person from 500,000
shares to 1,000,000 shares, and (iii) made certain other
administrative changes.

                          About Vermillion

Vermillion, Inc., is dedicated to the discovery, development and
commercialization of novel high-value diagnostic tests that help
physicians diagnose, treat and improve outcomes for patients.
Vermillion, along with its prestigious scientific collaborators,
has diagnostic programs in oncology, hematology, cardiology and
women's health.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 09-11091) on March 30, 2009.  Vermillion's legal
advisor in connection with its successful reorganization efforts
wass Paul, Hastings, Janofsky & Walker LLP.  Vermillion emerged
from bankruptcy in January 2010.  The Plan called for the Company
to pay all claims in full and equity holders to retain control of
the Company.

Vermillion reported a net loss of $19.2 million in 2014, a net loss
of $8.81 million in 2013 and a net loss of $7.14 million in 2012.

As of March 31, 2015, the Company had $18.67 million in total
assets, $3.48 million in total liabilities and $15.19 million in
total stockholders' equity.


WALTER ENERGY: S&P Lowers CCR to 'D' on Missed Interest Payment
---------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Walter Energy Inc. to 'D' from 'CCC-'.  S&P also
lowered its issue-level ratings on the company to 'D'.  The
recovery rating on the company's senior secured debt is '2', which
indicates S&P's expectation for recovery at the lower half of the
substantial (70% to 90%) recovery range.  The recovery rating on
the second-lien debt and the senior unsecured obligations is '6',
which indicates S&P's expectation for negligible (0% to 10%)
recovery.

S&P lowered the ratings on Birmingham, Ala.-based coal miner Walter
Energy after the company elected not to pay approximately $19
million in aggregate interest payments on its 9.875% senior notes
due 2020.  A payment default has not occurred under the indentures
governing the notes, which provide a 30-day grace period.  However,
S&P considers a default to have occurred because it do not expect a
payment to be made within the stated grace period given the
company's heavy debt burden, which S&P views to be unsustainable.
In S&P's opinion, the company will exhaust its sources of liquidity
within six months.  Cash and investments totaled approximately $435
million on March 31, 2015.



WAYNE CHARTER: S&P Puts 'BB+' Rating on CreditWatch Negative
------------------------------------------------------------
Standard & Poor's Ratings Services has placed its 'BB+' rating on
Wayne Charter County, Mich.'s limited-tax general obligation (GO)
bonds, on CreditWatch with negative implications.

"The CreditWatch placement reflects our expectation that with the
onset of actions under Michigan Act 436, the county could lose some
of the autonomy currently held by the CEO and his staff," said
Standard & Poor's credit analyst Jane Ridley.

On June 17, Wayne County's CEO Warren Evans submitted a letter to
the treasurer of the State of Michigan requesting a preliminary
financial review of the county, as described in Michigan Act 436.
If the governor accepts the county's request for a financial review
and the process continues as described in Act 436, the Wayne County
board could choose one of four possible outcomes: (1) a consent
agreement; (2) an emergency manager; (3) a neutral evaluation; or
(4) a move to file for Chapter 9 bankruptcy.

In S&P's previous GO analysis, it stated that starting with
negotiations and using all other actions allowable Michigan law,
Wayne County plans to use all of its possible negotiating power to
close the structural imbalance and address the low pension funding
levels and outstanding other postemployment benefits unfunded
accrued actuarial liability.  In S&P's view, the county's request
for financial review does not signal the start of filing for
bankruptcy, but rather a step in its stated goal of using all
possible tools to regain structural balance.

However, given the uncertainty associated with these four options
-- as well as the potential for a prolonged time frame to make
additional meaningful structural changes while this process is
underway -- S&P has placed the rating on CreditWatch.

The negative CreditWatch reflects Standard & Poor's expectation
that with the onset of actions under Michigan Act 436, the county's
autonomy to self-direct its restructuring could be diminished if an
emergency manager is ultimately selected.  In S&P's view, this
could mean that making the significant, meaningful adjustments
necessary could be delayed or adjusted, which would have an impact
on the county's long-term financial health.  Should the county
retain control over its restructuring--such as via a consent
agreement-- S&P could remove the rating from CreditWatch and assign
a negative outlook, reflecting the long-term budget pressures the
county is facing.  In S&P's view, the appointment of an emergency
manager would not leave as much control with the county staff--and
potentially could open the possibility for the county to veer off
course to regaining structural balance--in which case, S&P could
lower the rating. Regardless, if the timeframe of changes slows
markedly, we could lower the rating.

Notwithstanding the uncertainty of the county's near-term
management control, without the county's clear, demonstrable
progress in the next year to regain structural balance and reduce
its sizable pension burden, S&P could lower the rating.  In
addition, should Wayne County's liquidity position deteriorate
significantly, S&P could lower the rating.  Without Standard &
Poor's seeing clear evidence of the county's ability to execute
structural reforms and the elimination of political gridlock within
the county's operations, the rating is precluded from going any
higher, and could well be lowered.

Standard & Poor's expects to resolve the CreditWatch within the
next 90 days.



WBH ENERGY: Court Approves Employment of TenOaks Energy as Broker
-----------------------------------------------------------------
The Hon. H. Christopher Mott of the U.S. Bankruptcy Court for the
Western District of Texas approved the employment of TenOaks Energy
Advisors, LLC, as broker for WBH Energy, LP and WBH Energy Partners
LLC.

TenOaks is expected to, among other things:

   1. serve as the exclusive agent to the Company for the
transaction(s);

   2. familiarize itself to the extent it deems appropriate and
feasible with the properties, in the course of the familiarization,
rely entirely upon information supplied by the Company and its
agents without independent investigation; and

   3. advise and assist the Company in and developing a strategy
for accomplishing the transaction(s), including the possible terms
and conditions of the transaction(s).

The Court also ordered that TenOaks will not be required to file
any application in connection with any commission, compensation or
fee sought in connection with the engagement agreement.

Among other things, the Debtors agreed to pay TenOaks a cash
success fee for a transaction involving a sale to Castlelake, L.P.
pursuant to the stalking horse bid or otherwise constituting an
approved sale transaction under the approved bid procedures will be
equal to (a) $105,000 upon closing of the sale of the oil and gas
properties, plus (b) $70,000 upon closing of the sale of the
personal property.

In the event of a foreclosure under the agreed automatic stay
order, the Company will pay or cause TenOaks to be paid a cash
breakage fee of $100,000.

The Company also agreed to pay TenOaks $20,000 to cover all direct
out-of-pocket expenses which are incurred by in connection with its
engagement.

The term of the agreement will terminate on either the bid deadline
under the approved bid procedures or alternatively
Sept. 1, 2015, whichever is later.  

                         About WBH Energy

WBH Energy Partners LLC (Bankr. W.D. Tex. Case No. 15-10004) and
its affiliates -- WBH Energy, LP (Bankr. W.D. Tex. Case No.
15-10003) and WBH Energy GP, LLC (Bankr. W.D. Tex. Case No.
15-10005) separately filed for Chapter 11 bankruptcy protection on
Jan. 4, 2015.  The petitions were signed by Joseph S. Warnock, vice
president.

Judge Christopher Mott presides over WBH Energy, LP's case, while
Judge Tony M. Davis presides over WBH Energy Partners' and WBH
Energy GP's cases.

William A. (Trey) Wood, III, Esq., at Bracewell & Giuliani LLP,
serves as the Debtors' bankruptcy counsel.

WBH Energy, LP, and WBH Energy Partners estimated their assets and
liabilities at between $10 million and $50 million each.  WBH
Energy, LP disclosed $557,045 plus an unknown amount and
$48,950,652 in liabilities as of the Chapter 11 filing.  WBH
Energy GP estimated its assets at up to $50,000, and its
liabilities at between $10 million and $50 million.

The U.S. Trustee for Region 7 appointed seven creditors to serve
On the official committee of unsecured creditors.



WEIGHT WATCHERS: Moody's Retains B3 CFR Over Loans Prepayment
-------------------------------------------------------------
Moody's Investors Service said Weight Watchers International,
Inc.'s announced prepayment of term loans due in 2016 at a 9%
discount does not affect the B3 Corporate Family and bank debt
ratings or the negative ratings outlook at this time.


WELLICA INC: Case Summary & 6 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Wellica, Inc.
        22410 Caroline Cove Lane
        Katy, TX 77450

Case No.: 15-33328

Chapter 11 Petition Date: June 23, 2015

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

Judge: Hon. Jeff Bohm

Debtor's Counsel: Marcus Jermaine Watson, Esq.
                  M. J. WATSON & ASSOCIATES, P.C.
                  325 N. Saint Paul Street, Suite 2200
                  Dallas, TX 75201
                  Tel: 214-965-8240
                  Fax: 214-999-1384
                  Email: jwatson@mjwatsonlaw.com

Total Assets: $376,626

Total Liabilities: $1.5 million

The petition was signed by E. Scott Drawdy, president.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/txsb15-33328.pdf


WILLBROS GROUP: Moody's Lowers CFR to Caa1, Outlook Negative
------------------------------------------------------------
Moody's Investors Service downgraded Willbros Group, Inc.'s
corporate family rating to Caa1 from B3, its probability of default
rating to Caa1-PD from B3-PD and its asset-based revolving credit
facility rating to B3 from B1.  The rating downgrades reflect
Willbros' inconsistent project execution, recent poor operating
results and weak credit metrics, which are expected to persist over
the next 12 to 18 months.  Moody's affirmed Wiilbros' Speculative
Grade Liquidity Rating of SGL-3.  The ratings outlook is negative.

These actions were taken:

Issuer: Willbros Group, Inc.

Downgrades:

Corporate Family Rating, Downgraded to Caa1 from B3;
Probability of Default Rating, Downgraded to Caa1-PD from B3-PD;

Affirmations:

Speculative Grade Liquidity Rating, Affirmed at SGL-3

Outlook Actions:

Outlook, Assigned Negative Outlook

Issuer: Willbros United States Holdings Inc.

Downgrades:

  $150 Million Asset-Based Lending Facility, Downgraded to B3 from
B1

RATINGS RATIONALE

Willbros' Caa1 corporate family rating reflects its small size, low
profit margins, high leverage, weak interest coverage, modest
short-term backlog, exposure to highly competitive and cyclical end
markets and track record of inconsistent project execution. The
company has historically struggled to generate consistent
profitability and has produced very weak EBITDA margins due to the
competitive nature of the engineering and construction industry,
periodic execution and productivity issues and its inability to
effectively execute its growth strategy.

Willbros had to delay SEC filings and restate its financial results
twice in 2014 to account for higher than anticipated costs on a few
projects.  This was another example of the company's inability to
consistently bid and execute on projects within its budgeted cost
and time frame.  The company has also suffered from a poorly
executed strategy to expand its focus on regional project work in
the shale basins and from less project opportunities due to
plunging oil and natural gas prices.  As a result, Willbros
incurred operating losses of $54 million in its oil & gas segment
in 2014, which weighed heavily on its operating performance.  The
company reported adjusted EBITDA of only $72 million in 2014 versus
$109 million in the prior year.

Willbros has been selling assets to offset the impact of negative
cash generation, cover the final payment of $32.7 million in
connection with the settlement of the WAPCo project litigation, to
assuage customers concerned about its credit profile and hold down
its debt level in an attempt to stay in compliance with debt
covenants.  However, despite proceeds of about $133 million between
January 2014 and March 2015, the company was still on course to
breach its covenants due to its poor operating performance.
Therefore, it had to issue 10.1 million shares of common stock, or
19.9% of its outstanding shares, to term-loan lender KKR Credit
Advisers in March 2015 to obtain an amendment that included the
suspension of financial covenants through March 2016.

Willbros profitability will remain poor in 2015 as weak upstream
oil & gas spending in North America and lost EBITDA from sold
businesses more than offset the benefit from the company's decision
to shrink the footprint of its oil & gas regional field offices and
to pursue other cost cuts.  Therefore, Moody's anticipates the
company will generate EBITDA in the range of $15 million to $30
million.  This will result in very weak credit metrics with
negative interest coverage (EBITA/Interest Expense) and a leverage
ratio (Debt/EBITDA) of more than 8.0x.

Willbros speculative grade liquidity rating of SGL-3 reflects its
adequate liquidity.  The company had $123 million of liquidity as
of March 31, 2015 consisting of about $39 million in cash and $84
million of borrowing availability.  The company is expected to
maintain adequate liquidity over the next 12 months as it pursues
additional asset sales to pay down debt and to offset modestly
negative free cash flow.  However, the company's operating
performance will have to improve substantially to avoid breaching
the debt covenants on its revolver.  The company will have to
achieve a maximum leverage ratio of 3.0x and a minimum interest
coverage ratio of 3.0x when the covenants are reinstated for the
twelve month period ending June 2016.

Willbros asset-based revolving credit facility is rated B3, one
notch above the corporate family rating due to its first priority
lien on the more liquid and sizeable current assets of the company.
The revolver has a first priority security interest in all assets
except real property, machinery and equipment.  The term loan has a
first priority lien on all assets not included in the ABL revolver
borrowing base and a second priority lien on the ABL collateral.
Therefore, the term loan lenders would disproportionately absorb
creditor losses in the event of default. The two notch rating
downgrade reflects the recent pay down of term loan debt and the
reduction in this loss absorbing buffer.

Willbros negative outlook reflects the risk that its operating
performance will remain weak due to persistently low oil and
natural gas prices or continued execution issues, leading to
sustained metrics that are consistent with a lower rating and
increasing the likelihood of a covenant breach in 2016.

Willbros rating is not likely to experience upward pressure in the
near term, but could be upgraded should the company grow its
backlog of orders and sustain adjusted leverage (Debt/EBITDA) below
6.5x, interest coverage (EBITA/Interest Expense) above 1.0x and
maintain an adequate liquidity profile.

Downward rating pressure could develop if Willbros sustains its
adjusted leverage above 7.5x or its interest coverage below 0.5x.
Downward rating action could also occur if the company generates
negative EBITDA, its liquidity is significantly reduced or the
company does not maintain compliance with its bank covenants.

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

Willbros Group, Inc., headquartered in Houston, Texas, provides
engineering and construction (E&C) services to the oil, gas and
power industries primarily in North America. Willbros reports its
results in four segments: Oil & Gas (38% of revenues; 8% of
backlog) is focused on the US market and specializes in pipelines
and associated facilities and provides maintenance and turnaround
services for refineries; Utility T&D (20%; 69%) provides end-to-end
infrastructure construction services, primarily for the electric
and natural gas utility end-markets; Canada (20%; 15%) provides
maintenance and E&C services to the oil sands industry; and
Professional Services (22%; 8%) provides engineering and design,
project management, line locating and pipeline integrity services.
Willbros' revenue for the 12 months ended March 31, 2015 was $1.9
billion and its backlog totaled $1.2 billion, of which $600 million
was expected to be realized over the next twelve months.
Approximately 85% of Willbros' backlog is in the US and 15% in
Canada.



WILLIAMS COS: S&P Affirms 'BB+' CCR, Placed on CreditWatch Dev.
---------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB+'
corporate credit and senior unsecured debt ratings on The Williams
Cos. Inc. and placed them on CreditWatch with developing
implications.

At the same time, S&P also affirmed the 'BBB' long-term corporate
credit rating and 'A-2' short-term rating on Williams Partners L.P.
and placed them on CreditWatch developing.

S&P also affirmed the 'BBB' corporate credit ratings on operating
subsidiaries Northwest Pipeline LLC and Transcontinental Gas Pipe
Line Co. LLC and placed them on CreditWatch developing.

The developing CreditWatch indicates that S&P could raise, lower,
or leave the rating unchanged.

"We expect to resolve the developing CreditWatch when we obtain
greater clarity into recent events," said Standard & Poor's credit
analyst Nora Pickens.

Williams announced that its board of directors is considering
several alternatives following receipt of an unsolicited proposal
to acquire Williams in an all-equity transaction at a slated per
share price of $64, a 32% premium to the Williams share closing
price on June 19, 2015.  The offer would be contingent on the
termination of the pending merger between Williams and Williams
Partners.  Williams also stated that the $64 offer significantly
undervalues the company.

In a separate press release, Energy Transfer Equity (ETE) confirmed
that it had proposed to acquire Williams at $64 per Williams
share.

S&P currently cannot assess the probability of Williams' next
steps, including whether the previously announced merger with
Williams Partners would go through or whether the ETE proposal may
be ultimately considered.  As a result, S&P placed its ratings on
Williams on CreditWatch developing until S&P gains greater
clarity.

S&P's ratings on ETE and its related corporate entities are
unaffected at this time.



WINTRUST FINC'L: Fitch to Assign 'B+' Preferred Stock Rating
------------------------------------------------------------
Fitch Ratings expects to assign a 'B+' rating to Wintrust Financial
Corp.'s (WTFC) $125 million Series D non-cumulative perpetual
preferred stock issuance.

Dividends will be payable at a fixed rate of 6.50% per annum from
the original issue date to, but excluding, July 15, 2025 and
thereafter at a floating rate of three-month LIBOR plus a spread of
4.06% per annum. The proceeds will be used for general corporate
purposes, which may include, investments at the holding company
level, providing capital to support growth, acquisitions or other
business combinations, including FDIC-assisted acquisitions and
reducing or refinancing existing debt.

KEY RATING DRIVERS

SUBORDINATED DEBT AND OTHER HYBRID SECURITIES

The hybrid instrument is expected to be rated five notches lower
than WTFC's Viability rating of 'bbb' in accordance with Fitch's
'Global Bank Rating Criteria' dated March 20, 2015. The preferred
stock rating includes two notches for loss severity given these
securities' deep subordination in the capital structure, and three
notches for non-performance given that the coupon of the securities
is non-cumulative and fully discretionary.

RATING SENSITIVITIES

SUBORDINATED DEBT AND OTHER HYBRID SECURITIES

WTFC's preferred issuances are sensitive to changes in its VR, and
would move in tandem with any changes to its VR.

Fitch expects to assign the following rating:

Wintrust Financial Corp

-- Non-cumulative preferred at 'B+ (EXP)'.



WKI HOLDING: S&P Revises Outlook to Stable & Affirms 'B' CCR
------------------------------------------------------------
Standard & Poor's Ratings services revised the outlook to stable
from negative and affirmed its 'B' corporate credit rating on
Rosemount, Ill.-based WKI Holding Co. Inc. (World Kitchen) and the
'B' issue-level ratings on World Kitchen's $342 million senior
secured facilities, which consist of a $90 million revolving
facility due 2018 and a $252 million term loan due 2019.  The
recovery rating remains '3' (upper half of the range), indicating
S&P's belief that lenders could expect meaningful (50% to 70%,
upper half of the range) recovery in the event of payment default
or bankruptcy.

"The outlook revision reflects our view of World Kitchen's improved
cushion on its financial maintenance covenants and our forecast for
the company to improve EBITDA and generate higher free operating
cash flow," said Standard & Poor's credit analyst Beverly Correa.



XINERGY CORP: Court Sets July 31, 2015 Gen. Claims Bar Date
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Virginia
established a July 31, 2015, at 4:00 p.m., deadline for creditors,
excluding governmental entities, to file proofs of claim.  The
Court set a Sept. 23, 2015, at 4:00 p.m. deadline for governmental
entities to file proofs of claim.

Proofs of claim must be submitted  

   i) if via mail:

         c/o American Legal Claim Services, LLC
         P.O. Box 23650
         Jacksonville, FL 32241-3650

  ii) if via delivery by hand, courier or overnight service:

         c/o American Legal Claim Services, LLC
         5985 Richard St., Suite 3
         Jacksonville, FL 32216

The Court considered the matter at a hearing held June 9.

                        About Xinergy Ltd.

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

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

Xinergy Ltd. disclosed $36,968,445 in assets and $215,000,000 in
liabilities as of the Chapter 11 filing.

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



XINERGY CORP: Files Schedules of Assets and Liabilities
-------------------------------------------------------
Xinergy Ltd., filed with the U.S. Bankruptcy Court for the Western
District of Virginia its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $36,968,445
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                              $215,000,000
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                                $0
                                 -----------      -----------
        Total                    $36,968,445     $215,000,000

A copy of the schedules is available for free at:

         http://bankrupt.com/misc/XINERGYCORP_289_sal.pdf

                        About Xinergy Ltd.

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

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

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


XINERGY CORP: U.S. Trustee Forms Two-Member Creditors Committee
---------------------------------------------------------------
Judy A. Robbins, U.S. Trustee for Region 4, appointed two creditors
to serve in an official committee of unsecured creditors in the
Chapter 11 case of Xinergy, Ltd, et al.:

         1. Christopher Signorelli
            Security America, Inc.
            3412 Chesterfield Ave.
            Charleston, WV 25304

         2. Gary Stover
            Penn Virginia Operating Co., LLC
            Suite 100, One Carbon Center
            Chesapeake, WV 25315

According to a docket entry, the U.S. Trustee scheduled a June 23,
2015 meeting of creditors in the case.  The deadline to file a
complaint to determine dischargeability of certain debts is Aug.
24.

                        About Xinergy Ltd.

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

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

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


XINERGY LTD: Can Implement Non-Insider Key Employee Retention Plan
------------------------------------------------------------------
Xinergy Ltd. and its affiliated debtors sought and obtained from
Judge Paul M. Black of the U.S. Bankruptcy Court for the Western
District of Virginia, Roanoke Division, authority to implement a
non-insider key employee retention plan for six non-insider
employees who have been determined to be vital to the Debtors'
restructuring efforts and to the continued operation of the
Debtors' businesses.

The Debtors propose to pay the KERP Participants in the aggregate
$180,000 upon the effective date of a Chapter 11 plan; provided,
however, that the KERP Participant must (i) be employed by the
Debtors on the effective date of a Chapter 11 plan and (ii) meet
certain other criteria related to job performance.  The proposed
individual KERP payments range from $10,000 to $50,000, and equal
approximately 9% to 33% of each KERP Participant's annual salary.

According to Henry P. (Toby) Long, III, Esq., at Hunton & Williams,
LLP, in Richmond, Virginia, the KERP has been tailored to encourage
the KERP Participants to continue to work for the Debtors through
the reorganization process and to achieve a successful emergence
from Chapter 11.

Mr. Long says the KERP Participants work across various departments
within the Debtors' business, including, sales, mine management,
operations and accounting.  The KERP Participants have been
carefully selected by the Debtors' senior management team as
persons who are critical to maximizing the value of the Debtors'
estates in the period leading up to consummation of a Chapter 11
plan.

Mr. Long tells the Court that as part of the Debtors'
reorganization efforts, the KERP Participants have been called upon
to undertake additional responsibilities and expend significantly
more working hours than contemplated by the normal terms of their
employment.  None of the KERP Participants are "insiders" of the
Debtors, as the term is defined in the Bankruptcy Code, Mr. Long
further tells the Court.

In the event that a KERP Participant no longer is employed by the
Debtors prior to payment of their KERP Payment, the Debtors may, in
their discretion and in consultation with the Informal Committee,
the DIP Lenders and the Official Committee of Unsecured Creditors
Committee either (i) substitute as a KERP Participant an incumbent
or newly hired employee of the Debtors in place of the departing
KERP Participant or (ii) increase the KERP Payment level for an
existing KERP Participant; provided, however, that in no event will
the aggregate amount of the KERP Payments exceed $180,000.

Mr. Long asserts that given the uncertainties and demands that
accompany the Chapter 11 process, the Debtors believe that the KERP
is appropriately tailored to encourage the KERP Participants, who
are essential to the Debtors' ability to meet business objectives
and complete a successful restructuring, to not only remain with
the Debtors through the effective date of a Chapter 11 plan, but
also to maximize value for the Debtors' stakeholders in the
process.

Michael R. Castle, Chief Financial Officer of Xinergy Ltd., filed a
declaration in support of the KERP motion.  Mr. Castle states tthat
along with the other members of the Debtors' senior management
team, he selected the KERP Participants as persons who are critical
to maximizing the value of the Debtors' estates in the period
leading up to consummation of a Chapter 11 plan.  None of the
Debtors' senior management team are to become KERP Participants
under the proposed program, Mr. Castle tells the Court.

The Debtors are represented by:

          Tyler P. Brown, Esq.
          Henry P. (Toby) Long, Esq.
          Justin F. Paget, Esq.
          HUNTON & WILLIAMS LLP
          951 East Byrd Street
          Richmond, VA 23219
          Telephone: (804)788-8200
          Facsimile: (804)788-8218
          Email: tpbrown@hunton.com
                 hlong@hunton.com
                 jpaget@hunton.com

                   About Xinergy LTD

Xinergy is a U.S. producer of metallurgical and thermal coal with

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



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

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


XINERGY LTD: Has Final Court OK to Pay Critical Vendors' Claims
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia
entered a final order authorizing Xinergy Ltd., et al.'s payment of
claims to certain critical vendors in an amount not to exceed $7.5
million.

As reported by the Troubled Company Reporter on April 29, 2015, the
Court gave the Debtors interim authority to pay some or all of the
prepetition claims of critical vendors.

The Debtors may condition payment of any Critical Vendor Claims
upon agreement by the Critical Vendor to continue to supply goods
or services to the Debtors on the Critical Vendor's customary trade
terms for a period following the date of the agreement or on other
terms and conditions as are acceptable to the Debtors.

As a further condition of receiving payment on a Critical Vendor
Claim, the Debtors are authorized to require that the Critical
Vendor agree to take whatever action is necessary to remove any
existing trade liens at the Critical Vendor's sole cost and expense
and waive any right to assert a trade lien on account of the paid
Critical Vendor claim.

                        About Xinergy Ltd.

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

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

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


[*] Fitch Says Payroll Gains Easing Bankruptcies
------------------------------------------------
Recent gains in the labor market are helping drive down the level
of U.S. personal bankruptcy filings, according to Fitch Ratings in
its latest U.S. ABS chart of the month.

Aggregate bankruptcy filings are still falling steadily, posting
year over year double-digit declines. Total filings for the six
months of this year are 12% lower than the same period in 2014.
"With the U.S. labor market continuing to tighten, personal
bankruptcy filings are on pace to decline for a record fifth
consecutive year," said Director Herman Poon.

A key development to watch in the coming months will be to what
extent credit card issuers will further loosen underwriting
standards and expand credit usage. "If and when loosening credit
standards take hold, a logical question will be what effect, if
any, it has on the rate of personal bankruptcy filings over time,"
said Poon.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Ministerios Vida Abundante
   Bankr. D. Ariz. Case No. 15-07405
      Chapter 11 Petition filed June 15, 2015
         See http://bankrupt.com/misc/azb15-07405.pdf
         represented by: Eric Slocum Sparks, Esq.
                         ERIC SLOCUM SPARKS, P.C.
                         E-mail: law@ericslocumsparkspc.com

In re Shelley C. Hill
   Bankr. C.D. Cal. Case No. 15-12072
      Chapter 11 Petition filed June 15, 2015

In re William Camacho
   Bankr. C.D. Cal. Case No. 15-12090
      Chapter 11 Petition filed June 15, 2015

In re Lisa Diane Bacciarini
   Bankr. E.D. Cal. Case No. 15-24819
      Chapter 11 Petition filed June 15, 2015

In re 1601 West Sunnyside Drive #106 LLC
   Bankr. D. Idaho Case No. 15-40587
      Chapter 11 Petition filed June 15, 2015
         See http://bankrupt.com/misc/idb15-40587.pdf
         represented by: Randal J. French, Esq.
                         BAUER & FRENCH                         
E-mail: rfrench@bauerandfrench.com

In re Raymond L. Dettmering and Kathy M. Dettmering
   Bankr. N.D. Ill. Case No. 15-20741
      Chapter 11 Petition filed June 15, 2015

In re Stageright Productions, Inc.
   Bankr. M.D. La. Case No. 15-10694
      Chapter 11 Petition filed June 15, 2015
         See http://bankrupt.com/misc/lamb15-10694.pdf
         represented by: John C. Anderson, Esq.
                         ANDERSON FIRM, LLC
                         E-mail: jca@andersonfirm.net

In re Rudy Yusico and Corazon D. Yusico
   Bankr. D. Nev. Case No. 15-13450
      Chapter 11 Petition filed June 15, 2015

In re Nikolaos Garbidakis
   Bankr. D.N.J. Case No. 15-21227
      Chapter 11 Petition filed June 15, 2015

In re Cliff T.M. Chan
   Bankr. E.D.N.Y. Case No. 15-72572
      Chapter 11 Petition filed June 15, 2015

In re House Pro Inc.
   Bankr. S.D. Tex. Case No. 15-33249
      Chapter 11 Petition filed June 15, 2015
         Filed Pro Se

In re Marvcus Raymond Patton
   Bankr. E.D. Va. Case No. 15-12070
      Chapter 11 Petition filed June 15, 2015

In re Emmanuel Louis
   Bankr. C.D. Cal. Case No. 15-12112
      Chapter 11 Petition filed June 16, 2015

In re Yolanda Flynn Collins
   Bankr. C.D. Cal. Case No. 15-19622
      Chapter 11 Petition filed June 16, 2015

In re Victor Padilla
   Bankr. S.D. Fla. Case No. 15-20876
      Chapter 11 Petition filed June 16, 2015

In re The Errict Rhett Foundation, Inc.
   Bankr. S.D. Fla. Case No. 15-20930
      Chapter 11 Petition filed June 16, 2015
         See http://bankrupt.com/misc/flsb15-20930.pdf
         represented by: Brett A. Elam, Esq.
                         FARBER + ELAM, LLC
                         E-mail: belam@brettelamlaw.com

In re Slabbed New Media, LLC
   Bankr. S.D. Miss. Case No. 15-50963
      Chapter 11 Petition filed June 16, 2015
         See http://bankrupt.com/misc/mssb15-50963.pdf
         represented by: Craig M. Geno, Esq.
                         LAW OFFICES OF CRAIG M. GENO, PLLC
                         E-mail: cmgeno@cmgenolaw.com

In re Richard Brian Valentine and Carisa Kay Valentine
   Bankr. D. Neb. Case No. 15-40968
      Chapter 11 Petition filed June 16, 2015

In re Erick Allan Lindgren
   Bankr. D. Nev. Case No. 15-13475
      Chapter 11 Petition filed June 16, 2015

In re CJWA, Inc.
   Bankr. W.D. Va. Case No. 15-70825
      Chapter 11 Petition filed June 16, 2015
         See http://bankrupt.com/misc/vawb15-70825.pdf
         represented by: Mark A. Black, Esq.
                         BRUMBERG MACKEY & WALL, PLC
                         E-mail: mblack@bmwlaw.com


In re Charlie's Bar-B-Q, Inc.
   Bankr. S.D. Fla. Case No. 15-20977
      Chapter 11 Petition filed June 17, 2015
         See http://bankrupt.com/misc/flsb15-20977.pdf
         represented by: Richard Siegmeister, Esq.
                         E-mail: rspa111@att.net

In re Snow's Mill Springs, LLC
   Bankr. M.D. Ga. Case No. 15-30632
      Chapter 11 Petition filed June 17, 2015
         See http://bankrupt.com/misc/gamb15-30632.pdf
         represented by: Ernest V. Harris, Esq.
                         HARRIS & LIKEN, LLP
                         E-mail: eharris@harrisliken.com

In re Luis Burgos and Dorian Alicia Burgos
   Bankr. D. Nev. Case No. 15-13490
      Chapter 11 Petition filed June 17, 2015

In re 2301 Investors, L.P.
   Bankr. E.D. Pa. Case No. 15-14255
      Chapter 11 Petition filed June 17, 2015
         See http://bankrupt.com/misc/paeb15-14255.pdf
         represented by: Demetrius J. Parrish, Esq.
                         The Law Offices of Demetrius J. Parrish
                         E-mail: djp711@aol.com

In re Timothy D. Binkley and Penny Lewis Binkley
   Bankr. M.D. Tenn. Case No. 15-04144
      Chapter 11 Petition filed June 17, 2015

In re Macon Road Landscape, LLC
   Bankr. W.D. Tenn. Case No. 15-25596
      Chapter 11 Petition filed June 17, 2015
         See http://bankrupt.com/misc/tnwb15-25596.pdf
         represented by: John Edward Dunlap, Esq.
                         LAW OFFICES OF JOHN E. DUNLAP
                         E-mail: jdunlap00@gmail.com

In re Moon Electric Comany, Inc.
   Bankr. W.D. Wash. Case No. 15-13720
      Chapter 11 Petition filed June 17, 2015
         See http://bankrupt.com/misc/wawb15-13720.pdf
         represented by: Thomas D. Neeleman, Esq.
                         E-mail: courtmail@expresslaw.com

In re Sofia 42 Restaurant Corp.
   Bankr. S.D.N.Y. Case No. 15-11587
      Chapter 11 Petition filed June 18, 2015
         See http://bankrupt.com/misc/nysb15-11587.pdf
         represented by: Francisco Egbert Mundaca, Esq.
                         MUNDACA ARTESE, LLP
                         E-mail: mundaca@mundaca-artese.com

In re Alvin Hawsey
   Bankr. S.D. Ala. Case No. 15-01921
      Chapter 11 Petition filed June 18, 2015

In re Lovely Auto Sales, Inc.
   Bankr. E.D. Ky. Case No. 15-70380
      Chapter 11 Petition filed June 18, 2015
         See http://bankrupt.com/misc/kyeb15-70380.pdf
         represented by: Joseph W. Caldwell, Esq.
                         CALDWELL & RIFFEE
                         E-mail: joecaldwell@frontier.com

In re Galaxy Travel, Inc.
   Bankr. D. Mass. Case No. 15-12420
      Chapter 11 Petition filed June 18, 2015
         See http://bankrupt.com/misc/mab15-12420.pdf
         represented by: Timothy M. Mauser, Esq.
                         LAW OFFICE OF TIMOTHY MAUSER, ESQ.
                         E-mail: tmauser@mauserlaw.com

In re Comanche Realty, LLC, beneficiary of G&H Comanche Realty
Trust
   Bankr. D. Mass. Case No. 15-12419
      Chapter 11 Petition filed June 18, 2015
         See http://bankrupt.com/misc/prb15-12419.pdf
         represented by: Gary M. Hogan, Esq.
                         GILMORE, REES & CARLSON, P.C.
                         E-mail: ghogan@grcpc.com

In re Michael J. Mazzaglia
   Bankr. D.N.H. Case No. 15-10972
      Chapter 11 Petition filed June 18, 2015

In re Sammy El Jamal
   Bankr. S.D.N.Y. Case No. 15-22872
      Chapter 11 Petition filed June 18, 2015

In re Two Kings Realty, LLC
   Bankr. M.D. Pa. Case No. 15-02585
      Chapter 11 Petition filed June 18, 2015
         See http://bankrupt.com/misc/pamb15-02585.pdf
         represented by: David J. Harris, Esq.
                         LAW OFFICE OF DAVID J. HARRIS             
            E-mail: davidharrisesq@epix.net

In re Kristal C. Owens-Gayle
   Bankr. W.D. Pa. Case No. 15-22220
      Chapter 11 Petition filed June 18, 2015

In re Victor G. Torres Perez and Annette Y. Fuster Padilla
   Bankr. D.P.R. Case No. 15-04620
      Chapter 11 Petition filed June 18, 2015

In re Victory Maga, Inc.
   Bankr. D.P.R. Case No. 15-04621
      Chapter 11 Petition filed June 18, 2015
         See http://bankrupt.com/misc/prb15-04621.pdf
         represented by: Carmen D. Conde Torres, Esq.
                         E-mail: notices@condelaw.com

In re Eric R. Shibley
   Bankr. W.D. Wash. Case No. 15-13725
      Chapter 11 Petition filed June 18, 2015



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2015.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***