TCR_Public/150714.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, July 14, 2015, Vol. 19, No. 195

                            Headlines

1ST CARRIER: Judgment Upheld in Guaranty Suit v. Officers
ADVANCED EXPLORATIONS: Files BIA Proposal Notice of Intention
AEROGROW INTERNATIONAL: Finalizes $6M Term Loan from Scotts
AFREN PLC: Wants UK Case Recognized as "Foreign Main Proceeding"
ALCOA INC: 2nd Qtr. Performance in Line with Moody's Expectations

ALLIANCE ONE: BlackRock Reports 2.1% Stake as of June 30
ALLIED SECURITY: Moody's Puts B2 CFR Under Review for Downgrade
ALPHA NATURAL: BlackRock Owns 1.8% Stake as of June 30
ANNA'S LINEN: Has Until July 29 to File Schedules and Statements
APOLLO MEDICAL: Amends Agreement with NNA of Nevada

ARABELLA PETROLEUM: Case Summary & 20 Largest Unsecured Creditors
ARCH COAL: BlackRock Reports 1.8% Equity Stake as of June 30
ARMORED AUTOGROUP: S&P Raises Then Withdraws Corp. Credit Rating
ATHERTON FINANCIAL: Reaches Settlement with Bank SinoPac
BAHA MAR: Court Enforces Sec. 362 Automatic Stay

BAHA MAR: Final DIP Hearing Set for Aug. 3
BAHA MAR: Stipulation Clarifying Cash Management Order Approved
BON-TON STORES: Gabelli, et al., Report 12.8% Equity Stake
BROOKLYN RENAISSANCE: Section 341 Meeting Scheduled for Aug. 17
CAESARS ENTERTAINMENT: Creditors Say LBO Shouldn't Be Part of Probe

CAL DIVE: Bid to Form Committee of Maritime Lienholders Denied
CHASSIX HOLDINGS: Benefit Street's Plan Objection Overruled
COLT DEFENSE: Wins Final Approval of DIP Financing
CORINTHIAN COLLEGES: Committee Fights US Objection to Stay Motion
CORINTHIAN COLLEGES: Defaulted Loans Get Temporary Reprieve

CRESCENT & SPRAGUE: Case Summary & 20 Top Unsecured Creditors
DUNE ENERGY: Gets One Week Extension of DIP Loan Maturity Date
ENERGY FUTURE: Bid to Dismiss v. UMB Bank Granted
ENERGY FUTURE: EFH Committee Balks at Asbestos Claims Bar Date
ENERGY FUTURE: Seeks Nod for McDermott Work on Economic Metrics

ERG INTERMEDIATE: Committee Fails in Bid to Move Cases to Calif.
ERG INTERMEDIATE: Epiq Approved as Claims & Noticing Agent
ERG INTERMEDIATE: Has Issues With Conway Retention
ERG INTERMEDIATE: Jones Day Approved as Bankruptcy Counsel
FAIRWAY BURNER: Voluntary Chapter 11 Case Summary

FAME INDUSTRIES: Case Summary & 20 Largest Unsecured Creditors
FLETCHER INCOME: Suit v. CITCO et al. Remanded to District Court
FREEDOM INDUSTRIES: Bids to Disqualify Prosecutors Denied
FULLER BRUSH: GCG, Inc., Terminated as Administrative Agent
GT ADVANCED: Equity Holders Want to Be Included in Plan Talks

HATTERAS MOTEL: Case Summary & 16 Largest Unsecured Creditors
HERCULES OFFSHORE: BlackRock Reports 2.4% Stake as of June 30
ID CONSULTING: Case Summary & 20 Largest Unsecured Creditors
IES GLOBAL: Moody's Changes Outlook to Negative & Affirms B2 CFR
INTELLIPHARMACEUTICS INT'L: Status of Focalin Tentative Approvals

ITUS CORP: Announces Uplisting to NASDAQ
JOE'S JEANS: Posts $3.3 Million Net Loss for Second Quarter
KEMET CORP: BlackRock Reports 3.3% Stake as of June 30
KEMET CORP: Names New Global Sales & Marketing SVP
KENAN ADVANTAGE: S&P Affirms 'B+' CCR & Revises Outlook to Stable

KNOWLEDGE UNIVERSE: S&P Puts 'B' CCR on CreditWatch Negative
LAKESIDE PROFESSIONAL: Case Summary & 2 Top Unsecured Creditors
LEE STEEL: Key Employee Incentive Plan for Non-Insiders Approved
LEGACY RESERVES: S&P Affirms 'B+' CCR, Outlook Negative
LIGHTSTREAM RESOURCES: S&P Raises Corporate Credit Rating to 'B-'

MCCLATCHY CO: BlackRock Holds 2.8% of Class A Shares as of June 30
MCD SPORTS: Case Summary & 20 Largest Unsecured Creditors
MEDIAOCEAN LLC: S&P Assigns Preliminary 'B' CCR, Outlook Stable
MISSISSIPPI PHOSPHATES: Delays Auction to July 31
MISSISSIPPI PHOSPHATES: Govt. & Committee Balk at July Budget

NATIONAL MEDICAL: Tortious Interference Claim v. DVI Dismissed
NATURAL MOLECULAR: Dawson Okayed to File Amendments to Tax Returns
NATURAL MOLECULAR: Trustee Taps Committee's Foster Pepper
NET ELEMENT: Amends 53.6 Million Shares Resale Prospectus
NET ELEMENT: Removes Bylaws' Fee-Shifting Provisions

NICHOLS CREEK: July 28 Hearing on Amended Plan Disclosures
OHCMC OSWEGO: Court Enters Final Decree Closing Case
OHCMC OSWEGO: PNC Bank Withdraws Motion to Turnover Sale Proceeds
OHCMC OSWEGO: PNC Bank's Bid to Turnover Cash Considered Moot
ONE FOR THE MONEY: Sale-Based Plan Accepted by Impaired Creditors

ONE SOURCE: Court Denies Bid to Appoint Chapter 11 Trustee
PLAZE INC: Moody's Assigns B2 Corp. Family Rating, Outlook Stable
PREMIER EXHIBITIONS: Posts $2.5 Million Net Loss for First Quarter
QUEENS BALLPARK: Moody's Retains Ba1 Rating on $512MM PILOT Bonds
REICHHOLD HOLDINGS: Committee Taps BRG as Financial Advisor

RESIDENTIAL CAPITAL: Bids to Junk Suits vs. CMG, Home Loan Denied
RESIDENTIAL CAPITAL: Suit Over Defective Loans May Proceed
RETROPHIN INC: Restates 2013 Periodic Reports
RONALD WILLIAM DEMASI: Damages Claim Not Dischargeable in Ch. 11
RYAN LLC: Moody's Assigns B2 Rating on $50MM 1st Lien Revolver

SA-ENC FORT MYERS: Bankruptcy Stays "Armbrust" Lawsuit
SALADWORKS LLC: Buyer Wants Court to Hold Mixed Greens in Contempt
SARATOGA RESOURCES: Hires Heller Draper as Co-Bankruptcy Counsel
SARATOGA RESOURCES: Proposes to Pay Insiders, Directors
SIGNAL INTERNATIONAL: Case Summary & 30 Top Unsecured Creditors

SIMPLY FASHION: Court OKs $82K Incentive Pay to 9 Key Employees
SPEEDY CASH: Moody's Raises CFR to B3, Outlook Stable
STANDARD REGISTER: Creditors Sue Silver Point Over WorkflowOne Deal
STANDARD REGISTER: Needs Until Oct. 8 to File Liquidating Plan
STERLING MID-HOLDINGS: Moody's Lowers CFR to Caa1, Outlook Neg.

TENET HEALTHCARE: Files Financials of Businesses Acquired
TOLLENAAR HOLSTEINS: Court Approves 2nd Rye Grass Crop Sale
TRACK GROUP: Sapinda Asia Reports 50.9% Stake as of July 7
TRONOX INC: Trustee's Request for Instructions Granted
TRUMP ENTERTAINMENT: Seeks Dec. 3 Extension of Plan Filing Date

UD DISSOLUTION: Wins Confirmation of Liquidation Plan
ULTIMATE NUTRITION: JPMorgan Chase Seeks to Repossess Vehicle
ULTIMATE NUTRITION: Seeks Oct. 12 Extension of Plan Filing Date
ULTIMATE NUTRITION: TD Bank Allowed to Inspect Premises, Inventory
VAUGHAN CO: District Court Affirms Ruling v. Lankford

VICTORY MEDICAL: Case Summary & 20 Largest Unsecured Creditors
WALTER ENERGY: BlackRock Reports 2.1% Stake as of June 30
WASHINGTON MUTUAL: Suit Over Bonus Payments Remanded to FDIC
WEBB BUSINESS: Case Summary & 20 Largest Unsecured Creditors
WENDY'S INTERNATIONAL: Moody's Lowers CFR to B2, Outlook Stable

WILLBROS GROUP: S&P Lowers CCR to 'CCC+', Outlook Developing
WPCS INTERNATIONAL: Issues 476,939 Common Shares
[*] Kirkland & Ellis Snags Vault.com's Top Bankruptcy Firm Ranking
[*] Moody's B3 Negative and Lower Corporate Ratings List Breaks 200
[^] Large Companies With Insolvent Balance Sheet


                            *********

1ST CARRIER: Judgment Upheld in Guaranty Suit v. Officers
---------------------------------------------------------
The Court of Appeals of Ohio, Fourth District, Pickaway County,
tossed an appeal filed by Jeffrey A. Beaver and Jeffrey L. Lanman
from the decision of the Pickaway County Court of Common Pleas
which granted summary judgment in favor of WM Capital Partners,
LLC.

The dispute originally involved two vehicle lease agreements
between 1st Carrier Corp., a company in which Beaver and Lanman
were officers, and Insurlease, LLC. Beaver and Lanman had also
signed personal guaranties in their individual capacities in favor
of Insurlease, LLC. Insurlease, LLC later assigned its rights in
the leases to the Tennessee Commerce Bank.  No separate assignments
appear to exist of the personal guaranties from Insurlease, LLC to
TCB.

1st Carrier Corp. filed a bankruptcy petition after the assignment
of the leases to TCB. Beaver and Lanman, however, did not file a
bankruptcy petition in their individual capacities. In the
bankruptcy proceedings, TCB and 1st Carrier Corp. entered into an
adequate protection agreement with respect to the two leases. TCB
and Beaver and Lanman made no specific provisions for the personal
guaranties.

At some point, the Tennessee Department of Financial Institutions
closed TCB; and the Federal Deposit Insurance Corporation ("FDIC")
was appointed as TCB's receiver. The FDIC then executed assignments
of the leases to the appellee WM Capital Partners, LLC. The
assignments from FDIC to WM Capital Partners, LLC included the
collateral documents.

Due to an alleged default of payments upon the leases, WM Capital
Partners, LLC filed a complaint against Beaver and Lanman based
upon the personal guaranties for the outstanding debt of
approximately $120,731.29. During the proceedings, WM Capital
Partners, LLC filed a motion for summary judgment. The trial court
granted the motion in favor of WM Capital Partners, LLC.

The Court of Appeals finds that Beaver and Lanman have failed to
raise a genuine issue of material fact. Therefore, their sole
assignment of error is overruled; and the judgment of the trial
court is affirmed.

The case is, WM CAPITAL PARTNERS, LLC, Plaintiff-Appellee, v.
JEFFREY A. BEAVER, ET AL., Defendants-Appellants, No. 14CA19 (Ohio
App. Ct.).  A copy of the Appeals Court's July 1 decision is
available at http://is.gd/9dPbDPfrom Leagle.com.


ADVANCED EXPLORATIONS: Files BIA Proposal Notice of Intention
-------------------------------------------------------------
Advanced Explorations Inc. on July 10 disclosed that it has filed
Notice of Intention to Make a Proposal under the provisions of Part
III of the Bankruptcy and Insolvency Act (Canada).

Pursuant to the Notice of Intention, Macpherson & Associates Inc.
has been appointed as the trustee in the Company's proposal
proceedings and will assist the Company in its restructuring
efforts.

The decision to file the Notice of Intention was made by the board
of directors of AEI after extensively exploring restructuring and
refinancing alternatives through consultation with its legal and
financial advisors and its principal lender.  While under BIA
protection, the Company will continue with its efforts to pursue
strategic alternatives, including restructuring its existing debt
obligations and renegotiation of certain terms in respect of its
properties.

A Notice of Intention is the first stage of a restructuring process
under the BIA, which permits the Company to pursue a restructuring
of its financial affairs, through a formal proposal process.  The
filing of the Notice of Intention has the effect of imposing an
automatic stay of proceedings that will protect the Company and its
assets from the claims of creditors and others while the Company
pursues this objective.  The initial Stay period of 30 days can be
extended by court order, during which time the Company will assess
its ability to present a viable proposal to its creditors.

The Company continues to be actively engaged in discussions with
various stakeholders to restructure the Company.  Strategic and
financial alternatives under consideration are focused on relieving
the financial burden of the Company's current debt structure and
obtaining additional financing necessary to seek additional
investment opportunities.  There can be no assurance that the
current process will result in a transaction or, if a transaction
is undertaken, that it will be successfully concluded in a timely
manner or at all.

                About Advanced Explorations Inc.

Advanced Explorations Inc., based in Toronto, Ontario, is a
resource development company focused on developing its Roche Bay
and Tuktu Iron Ore Projects in one of the world's largest
developing iron ore districts, the Melville Peninsula in Nunavut.


AEROGROW INTERNATIONAL: Finalizes $6M Term Loan from Scotts
-----------------------------------------------------------
AeroGrow International, Inc. announced that it has secured
strategic financing in the form of a short term loan from the
Scotts Miracle-Gro Company.  The funding will provide general
working capital to support anticipated growth as the Company
expands its retail and its direct-to-consumer sales channels and
new product introductions.  The proceeds, which total up to $6
million, will be made available as needed in three advances up to
$2 million, $2.5 million, and $1.5 million in July, August, and
September, respectively with a due date of April 15, 2016.

"I am pleased to report that our partners at the Scotts Miracle-Gro
Company have again demonstrated their confidence in the Miracle-Gro
AeroGarden line of products and in the expanding indoor gardening
market, by providing us with the short-term working capital we need
to support our growth and new product introductions in the coming
year," said President and Chief Executive Officer, J. Michael
Wolfe.  "We anticipate taking advantage of the opportunities in the
online and in-store channels as we focus on further building our
brand and improving our margins across the board.  The interest on
this loan will be paid in stock, which we expect to be minimally
dilutive due to the short term nature of the instrument.  Our
anticipated growth, accelerated innovation, and a real focus on
long-term sustainability, combined with our position as the market
leader in the rapidly growing indoor gardening industry while being
on the right side of a lot of powerful trends such as fresh, safe
and local food has set the stage for what we anticipate will be an
exciting fiscal 2016 and beyond."

A copy of the Term Loan and Security Agreement is available at:

                       http://is.gd/dOEYMq

                          About AeroGrow

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

AeroGrow reported a net loss attributable to common shareholders of
$1.5 million on $17.9 million of net revenue for the year ended
March 31, 2015, compared with a net loss attributable to common
shareholders of $4.1 million on $9.3 million of of net revenue for
the year ended March 31, 2014.

As of March 31, 2015, the Company had $5.9 million in total assets,
$4.6 million in total liabilities, all current, and $1.4 million
total stockholders' equity.


AFREN PLC: Wants UK Case Recognized as "Foreign Main Proceeding"
----------------------------------------------------------------
Anne Vallely, duply appointed foreign representative of Afren, plc,
asked the U.S. Bankruptcy Court for the District of Delaware to
recognize the Debtor's proceeding before the Chancery Division
(Companies Court) of the High Court of Justice of England and Wales
as a foreign main proceeding pursuant to Sections 1515 and 1517 of
the U.S. Bankruptcy Code.

According to Ms. Vallely, Afren's assets in the United States
include the Debtor's wholly owned subsidiary, Afren USA, Inc., a
corporation organized, existing and registered under the laws of
Delaware, that provides technical staff and support and is based in
Texas; and its reversionary interest in a $25,000 retainer advanced
to the Debtor's Delaware counsel, Fox Rothschild LLP.

The Hon. Kevin Gross of the U.S. Bankruptcy Court for the District
of Delaware schedule a hearing to consider approval for
recognition
of the UK proceeding as foreign main proceeding of Afren PLC for
July 31, 2015, at 10:00 a.m. (Eastern Time) in Room 3, 824 N.
Market street in Wilmington, Delaware.  Objections, if any, must
be
filed no later than 4:00 p.m. on July 27, 2015.

                       About Afren plc

Afren plc, a London-based company specializing in oil and
gas exploration and production, filed a Chapter 15 bankruptcy
petition (Bankr. D. Del. Case No. 15-11452) on July 2, 2015, in the
United States, to seek recognition of its restructuring proceedings
in England.  Judge Kevin Gross presides over the U.S. case.  L.
John Bird, Esq., and Jeffrey M. Schlerf, Esq., at Fox Rothschild
LLP, serve as counsel to the Debtor in the U.S. case.


ALCOA INC: 2nd Qtr. Performance in Line with Moody's Expectations
-----------------------------------------------------------------
Moody's Investors Service comments that Alcoa Inc.'s (Ba1,
Positive) 2nd quarter performance was in line with expectations and
demonstrates that the company's efforts to transform itself to a
lightweight metals value added company continues to gain traction
despite headwinds.  Additionally, progress in rationalizing its
primary metals segment and achieving lower production costs and
similar improvements in its alumina segment resulted in these 2
segments continuing to report positive ATOI (after tax operating
profit) despite lower LME aluminum prices, the collapse in regional
premiums and a lower API (alumina price index).  Additionally Alcoa
continues to maintain a solid liquidity position.  These trends are
expected to continue and support the recent change in rating
outlook to positive.


ALLIANCE ONE: BlackRock Reports 2.1% Stake as of June 30
--------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, BlackRock, Inc. disclosed that as of June 30, 2015, it
beneficially owned 188,498 shares of common stock of Alliance One
International Inc. which represents 2.1 percent of the shares
outstanding.  A copy of the regulatory filing is available at:

                        http://is.gd/MPO6ft

                         About Alliance One

Alliance One International is a leading global independent leaf
merchant.  Visit the Company's Web site at http://www.aointl.com/


Alliance One reported a net loss of $15.6 million on $2.10 billion
of sales and other operating revenues for the year ended March 31,
2015, compared to a net loss of $87 million on $2.3 billion of
sales and other operating revenues for the year ended March 31,
2014.

As of March 31, 2015, Alliance One had $1.60 billion in total
assets, $1.40 billion in total liabilities and $236 million in
total equity.

                            *    *    *

As reported by the TCR on Feb. 12, 2015, Moody's Investor Service
downgraded the Corporate Family Rating of Alliance One
International, Inc. (AOI) to Caa1 from B3.  The downgrade of AOI's
CFR to Caa1 reflects Moody's expectation that credit metrics will
remain weak over the next 12 - 18 months.

The TCR reported on April 13, 2015, that Standard & Poor's Ratings
Services lowered its corporate credit rating on Morrisville,
N.C.-based Alliance One International Inc. to 'CCC+' from 'B-'.


ALLIED SECURITY: Moody's Puts B2 CFR Under Review for Downgrade
---------------------------------------------------------------
Moody's Investors Service placed the ratings of Allied Security
Holdings LLC, including its B2 Corporate Family and B2-PD
Probability of Default ratings, under review for downgrade
following the announcement by Allied's equity sponsor, The
Blackstone Group, that it has agreed to sell Allied to Wendel SE
for approximately $1.67 billion.  The transaction is expected to
close in the third quarter of 2015.

Moody's has taken these rating actions:

On Review for Possible Downgrade:

Issuer: Allied Security Holdings LLC

  Corporate Family Rating, currently B2
  Probability of Default Rating, currently B2-PD
  Senior Secured First Lien Credit Facilities, currently B1 (LGD3)
  Senior Secured Second Lien Credit Facilities, currently Caa1
   (LGD5)

Outlook Actions:

Issuer: Allied Security Holdings LLC

  Outlook, Changed To Rating Under Review From Negative

RATINGS RATIONALE

Although detailed transaction terms have not been disclosed, the
ratings have been put under review for downgrade due to Moody's
expectation that the proposed private equity transaction could
result in a more highly levered capital structure.  Prior to the
announcement of this transaction, Allied was weakly positioned at
its B2 rating, largely due to high leverage.  On $870 million of
funded debt (as of March 2015), Moody's estimates Allied's leverage
at above-6 times debt to EBITDA (including Moody's adjustments),
which maps more closely to a B3-rated company in the business
services sector.  Any incremental debt that is added to Allied's
capital structure resulting from the Wendel acquisition would put
further pressure on Allied's ratings.

Moody's review of the ratings will focus primarily on the financial
leverage and the capital structure that will result from the sale
to Wendel, as well as ongoing operating trends at Allied. Moody's
will also evaluate current and projected operating performance.
Moody's expects to withdraw the existing credit facility ratings if
the facilities are redeemed as part of the transaction.

The principal methodology used in these ratings was the Business
and Consumer Service Industry published in December 2014.

Allied Security Holdings LLC, headquartered in Conshohocken,
Pennsylvania, is a leading provider of security services in North
America serving approximately 3,400 customers across a variety of
end markets.  Since August 2008, the company has been privately
owned primarily by affiliates of The Blackstone Group.  Allied
reported approximately $2.2 billion of revenue for the twelve
months ended March 31, 2015.



ALPHA NATURAL: BlackRock Owns 1.8% Stake as of June 30
------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, BlackRock, Inc. disclosed that as of June 30, 2015, it
beneficially owned 3,900,243 shares of common stock of Alpha
Natural Resources Inc. which represents 1.8 percent of the shares
outstanding.  A copy of the regulatory filing is available at:

                        http://is.gd/o5H1f7

                        About Alpha Natural

Alpha Natural is a coal supplier, ranked second largest among
publicly traded U.S. coal producers as measured by 2014
consolidated revenues of $4.3 billion.  As of Dec. 31, 2014, the
Company operated 60 mines and 22 coal preparation plants in
Northern and Central Appalachia and the Powder River Basin, with
approximately 8,900 employees.

Alpha Natural reported a net loss of $874.9 million in 2014, a net
loss of $1.1 billion in 2013 and a net loss of $2.4 billion in
2012.

                             *    *    *

As reported by the TCR on June 4, 2015, Standard & Poor's Ratings
Services said it lowered its corporate credit rating on Alpha
Natural Resources Inc. to 'CCC+' from 'B'.

The TCR reported on April 8, 2015, that Moody Investor's Service
downgraded the corporate family rating of Alpha Natural Resources,
Inc. to Caa3 from Caa1 and the probability default rating to
Caa3-PD/LD from Caa1-PD.


ANNA'S LINEN: Has Until July 29 to File Schedules and Statements
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
extended until July 29, 2015, Anna's Linens, Inc.'s time to file
schedules of assets and liabilities and statement of financial
affairs.

                       About Anna's Linens

Anna's Linens is a specialty retailer offering home textiles,
furnishings and decor at attractive prices.  Headquartered in
Costa
Mesa, California, operates a chain of 268 company owned retail
stores throughout 19 states in the United States (including Puerto
Rico and Washington, D.C.) generates over $300 million in annual
revenue and employs a workforce of over 2,500 associates.

Anna's Linens sought Chapter 11 bankruptcy protection (Bankr. C.D.
Cal. Case No. 15-13008) in Santa Ana, California, on June 14,
2015.

The case is assigned to Judge Theodor Albert.  The Debtor tapped
Levene, Neale, Bender, Yoo & Brill LLP as counsel.  The Debtor
estimated assets of $50 million to $100 million and debt of $100
million to $500 million.

The U.S. trustee overseeing the Chapter 11 case of Anna's Linens
Inc. appointed seven creditors to serve on the official committee
of unsecured creditors.


APOLLO MEDICAL: Amends Agreement with NNA of Nevada
---------------------------------------------------
Apollo Medical Holdings, Inc. entered into an amendment to the
First Amendment and Acknowledgement with NNA of Nevada, Inc., an
affiliate of Fresenius Medical Care North America.

The Agreement included (i) an extension until Oct. 15, 2015, of the
deadline previously contemplated by the First Amendment with
respect to the filing of a registration statement exclusively for
the Company's own account, (ii) an extension of the filing deadline
set forth in the Acknowledgement with respect to the filing of a
resale registration statement covering shares held by NNA, and
(iii) an extension of the targeted effectiveness date set forth in
the Acknowledgement with respect to the resale registration
statement covering shares held by NNA.

A copy of the Agreement is available at http://is.gd/6D3hct

                       About Apollo Medical

Glendale, Calif.-based Apollo Medical Holdings, Inc., provides
hospitalist services in the Greater Los Angeles, California area.
Hospitalist medicine is organized around the admission and care of
patients in an inpatient facility such as a hospital or skilled
nursing facility and is focused on providing, managing and
coordinating the care of hospitalized patients.

Apollo Medical reported a net loss of $4.55 million for the year
ended Jan. 31, 2014, following a net loss of $8.90 million for the
year ended Jan. 31, 2013.

As of Dec. 31, 2014, the Company had $15.02 million in total
assets, $16.5 million in total liabilities, and a $1.47 million
total stockholders' deficit.


ARABELLA PETROLEUM: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Arabella Petroleum Company, LLC
        509 Pecan Street, Suite 200
        Fort Worth, TX 76102

Case No.: 15-70098

Chapter 11 Petition Date: July 10, 2015

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

Judge: Hon. Ronald B. King

Debtor's Counsel: Bernard R. Given, II, Esq.
                  LOEB & LOEB LLP
                  10100 Santa Monica Boulevard, Suite 2200
                  Los Angeles, CA 90067
                  Tel: 310-282-2000
                  Fax: 310-282-2200
                  Email: bgiven@loeb.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Jason Hoisager, president/manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txwb15-70098.pdf


ARCH COAL: BlackRock Reports 1.8% Equity Stake as of June 30
------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, BlackRock, Inc. disclosed that as of June 30, 2015, it
beneficially owned 3,733,769 shares of common stock of Arch Coal
Inc. which represents 1.8 percent of the shares outstanding.  A
copy of the regulatory filing is available at http://is.gd/kbXExT

                          About Arch Coal

Arch Coal, Inc.'s primary business is the production of thermal and
metallurgical coal from surface and underground mines located
throughout the United States, for sale to utility, industrial and
steel producers both in the United States and around the world. The
Company currently operates mining complexes in West Virginia,
Maryland, Virginia, Illinois, Wyoming and Colorado.

Arch Coal reported a net loss of $558.3 million in 2014, a net loss
of $641.8 million in 2013 and a net loss of $683.7 million in
2012.

As of March 31, 2015, Arch Coal had $8.3 billion in total assets,
$6.7 billion in total liabilities and $1.5 billion in total
stockholders' equity.


                            *     *     *

The Troubled Company Reporter, on July 8, 2015, reported that
Fitch Ratings has downgraded the Issuer Default Rating of Arch
Coal, Inc. to 'C' from 'CCC'.  The downgrade follows Arch Coal's
announcements of exchange offers which Fitch considers Distressed
Debt Exchanges in accordance with Fitch's Distressed Debt Exchange
criteria.

The TCR, on May 6, 2015, reported that Moody's Investors Service
downgraded the corporate family rating of Arch Coal, Inc to Caa3
from Caa1 and the probability default rating to Caa3-PD from
Caa1-PD.  The downgrade follows the continued stress on the coal
sector, and the resulting deterioration in the company's credit
metrics.  At the same time, Moody's downgraded the ratings on the
senior secured term loan and bank revolving facility to Caa1 from
B2, the second lien notes to Caa3 from Caa1, and all unsecured
notes to Ca, from Caa2.  Moody's also affirmed the Speculative
Grade Liquidity rating of SGL-3.  The outlook is negative.

As reported by the TCR on July 9, 2015, Standard & Poor's Ratings
Services said it lowered its corporate credit rating on St.
Louis-based Arch Coal Inc. to 'CC' from 'CCC+'.  Standard & Poor's
Ratings Services said it lowered its corporate credit rating on St.
Louis-based Arch Coal Inc. to 'CC' from 'CCC+'.  The rating action
reflects Arch Coal's July 3, 2015, announcement of
a private debt exchange offer for its senior unsecured debt.


ARMORED AUTOGROUP: S&P Raises Then Withdraws Corp. Credit Rating
----------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
ratings on both Armored Autogroup Inc. (AAG) and IDQ Holdings Inc.
(IDQ) to 'B+' from 'B-' and assigned stable outlooks following
their acquisition by Spectrum Brands Holdings Inc. (B+/Stable/--).
The actions equalize the ratings on AAG and IDQ with those on
Spectrum Brands.  S&P also discontinued all of its issue-level
ratings on the debt of AAG and IDQ following repayment in full.

S&P subsequently withdrew its 'B+' corporate credit ratings on both
AAG and IDQ at the issuers' requests.



ATHERTON FINANCIAL: Reaches Settlement with Bank SinoPac
--------------------------------------------------------
Judge Thomas B. Donovan of the U.S. Bankruptcy Court for the
Central District of California, Los Angeles Division, approved
Atherton Financial Building, LLC's settlement and compromise with
Bank SinoPac, Los Angeles Branch.

The settlement provides that the Court will enter in favor of the
Bank a stipulated judgment in an adversary proceeding the bank
commenced.  The Stipulated Judgment provides for, among other
things, judgment in favor of the Bank and against all defendants of
the Bank's first claim for relief for declaratory relief and
payment of $1.5 million of the Funds to the Bank, with the amount
representing the amount to which Lucy Gao is entitled based on her
equity interest in the Debtor and to which the Bank is entitled
pursuant to its judgment and charging order against Gao in the
Bank/Gao Action.

After entry of the Stipulated Judgment, the Court will issue an
order dismissing the Debtor's Chapter 11 case.

With exceptions for Gao, Liberty GMC Corporation, 1595 17th Street
LLC, and Progressive Star Management, LLC, and the obligations
created under the Settlement Stipulation, effective upon the
payment of $1.5 million of the Funds to the Bank, the parties to
the stipulation will be deemed to have provided mutual releases to
one another.

The Debtor's counsel, David B. Golubchik, Esq., at Levene, Neale,
Bender, Yoo & Brill L.L.P., in Los Angeles, California, said all
claims of the estate have already been satisfied in full from the
Funds and that the only remaining claims are those of the Debtor's
counsel and the US Trustee and that the only other interests that
remain are equity interests.  Mr. Golubchik added that pursuant to
the Settlement Stipulation, all administrative claims will be paid
in full, the Bank will receive its $1.5 million from Ms. Gao's
portion of the equity in the Debtor and the case will be dismissed
without the need to incur additional time and expense in connection
with the administration of the estate.

Prior to the approval of the settlement, Bank SinoPac filed a
limited objection, requesting that the proposed Compromise Order be
modified to make clear that the Court expressly reserves
jurisdiction over the Adversary Proceeding not only to enter the
Stipulated Judgment against all of the defendants other than PA
One, but also to enter the Default Judgment in favor of the Bank
against PA One.  The Bank concurrently filed a Motion for Default
Judgment on the First Claim for Relief in Favor of the Bank and
Against PA One.

The Debtor is represented by:

          David B. Golubchik, Esq.
          Todd M. Arnold, Esq.
          LEVENE, NEALE, BENDER, YOO & BRILL L.L.P.
          10250 Constellation Boulevard, Suite 1700
          Los Angeles, CA 90067
          Telephone: (310)229-1234
          Facsimile: (310)229-1244
          Email: dgb@lnbyb.com
                 tma@lnbyb.com

Bank SinoPac is represented by:

          Michael Gerard Fletcher, Esq.
          FRANDZEL ROBINS BLOOM & CSATO, L.C.
          6500 Wilshire Boulevard, Seventeenth Floor
          Los Angeles, CA 90048-4920
          Telephone: (323)852-1000
          Facsimile: (323)651-2577
          Email: mfletcher@frandzel.com

             About Atherton Financial

Atherton Financial Building LLC owned a commercial building located
at 1906 El Camino Real, Menlo Park, CA 94027.



Atherton Financial filed a Chapter 11 petition (Bankr. C.D.
Cal.
, Case No. 14-27223) in Los Angeles, on Sept. 9, 2014.
Benjamin Kirk signed the petition as managing member of manager of
Sunshine 
Valley LLC.  The case is assigned to Judge Thomas B.
Donovan.  The 
Debtor tapped David B Golubchik, Esq., at Levene
Neale Bender 
Rankin & Brill LLP, in Los Angeles, as
counsel.



The Company estimated $10 million to $50 million in assets and

debt.



BAHA MAR: Court Enforces Sec. 362 Automatic Stay
------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware issued an order enforcing the automatic stay pursuant
to Section 362 of the Bankruptcy Code in the Chapter 11 cases of
Northshore Mainland Services Inc., et al., and authorizing
Northshore to act as foreign representative.

Subject to the exceptions to the automatic stay contained in
Section 362(b), all persons whether located within the United
States or otherwise, and governmental units, whether of any foreign
country or of the United States, are stayed, restrained and
enjoined from, among other things, taking any action whether inside
or outside the United States to (i) obtain possession of assets or
interests of the Debtors' estates wherever located or (ii) exercise
control over property of the estates wherever located.

                           About Baha Mar

Orlando, Florida-based Northshore Mainland Services Inc., Baha Mar
Enterprises Ltd., and their affiliates sought protection under
Chapter 11 of the Bankruptcy Code on June 29, 2015 (Bankr. D.Del.,
Case No. 15-11402).  Baha Mar owns, and is in the final stages of
developing, a 3.3 million square foot resort complex located in
Cable Beach, Nassau, The Bahamas.

The case is assigned to Judge Kevin J. Carey.

The Debtors are represented by Paul S. Aronzon, Esq., and Mark
Shinderman, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Los
Angeles, California; and Gerard Uzzi, Esq., Thomas J. Matz, Esq.,
and Steven Z. Szanzer, Esq., at Milbank, Tweed, Hadley & McCloy
LLP, in New York.  The Debtors' Delaware counsel are Laura Davis
Jones, Esq., James E. O'Neill, Esq., Colin R. Robinson, Esq., and
Peter J. Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware.  The Debtors' Bahamian counsel is Glinton
Sweeting O'Brien.  The Debtors' special litigation counsel is Kobre
& Kim LLP.  The Debtors' construction counsel is Glaser Weil Fink
Howard Avchen & Shapiro LLP.

The Debtors' investment banker and financial advisor is Moelis
Company LLC.  The Debtors' claims and noticing agent is Prime Clerk
LLC.


BAHA MAR: Final DIP Hearing Set for Aug. 3
------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware will convene a hearing on Aug. 3, 2015, at 1:30 p.m.
(prevailing Eastern Time), to determine final approval of
Northshore Mainland Services Inc., et al.'s request to obtain
postpetition financing and use cash collateral.  Objections are due
July 27.

Judge Carey gave the Debtors interim authority to obtain $30
million of the $80 million postpetition financing extended by
developer Sarkis Izmirlian's Granite Ventures Ltd. and use cash
collateral securing their prepetition indebtedness.

As of the Petition Date, the Debtors' unaudited balance sheets
reflected total assets of approximately $3.1 billion and total
liabilities of approximately $2.7 billion.  The Debtors' material
debt obligations principally consist of approximately $2.4 billion
in loans under a secured credit agreement with CEXIM Bank,
approximately $140 million allegedly owed to CCA under their main
construction contract, and approximately $123 million in trade
debt.

A full-text copy of the Updated DIP Budget is available at
http://bankrupt.com/misc/BAHAdip0701.pdf

Counsel to the DIP Parties:

         Gary L. Kaplan, Esq.
         FRIED, FRANK, HARRIS, SHRIVER & JACOBSON, LLP
         One New York Plaza
         New York, NY 10004
         Tel: (212) 859-8812
         Fax: (212) 859-4000
         E-mail: gary.kaplan@friedfrank.com

            -- and --

         Michael J. Merchant, Esq.
         RICHARDS, LAYTON & FINGER PA
         One Rodney Square
         920 North King Street
         Wilmington, DE 19801
         Tel: (302) 651-7854
         Fax: (302) 498-7854
         E-mail: merchant@rlf.com

                           About Baha Mar

Orlando, Florida-based Northshore Mainland Services Inc., Baha Mar
Enterprises Ltd., and their affiliates sought protection under
Chapter 11 of the Bankruptcy Code on June 29, 2015 (Bankr. D.Del.,
Case No. 15-11402).  Baha Mar owns, and is in the final stages of
developing, a 3.3 million square foot resort complex located in
Cable Beach, Nassau, The Bahamas.

The case is assigned to Judge Kevin J. Carey.

The Debtors are represented by Paul S. Aronzon, Esq., and Mark
Shinderman, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Los
Angeles, California; and Gerard Uzzi, Esq., Thomas J. Matz, Esq.,
and Steven Z. Szanzer, Esq., at Milbank, Tweed, Hadley & McCloy
LLP, in New York.  The Debtors' Delaware counsel are Laura Davis
Jones, Esq., James E. O'Neill, Esq., Colin R. Robinson, Esq., and
Peter J. Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware.  The Debtors' Bahamian counsel is Glinton
Sweeting O'Brien.  The Debtors' special litigation counsel is Kobre
& Kim LLP.  The Debtors' construction counsel is Glaser Weil Fink
Howard Avchen & Shapiro LLP.

The Debtors' investment banker and financial advisor is Moelis
Company LLC.  The Debtors' claims and noticing agent is Prime Clerk
LLC.


BAHA MAR: Stipulation Clarifying Cash Management Order Approved
---------------------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware approved a stipulation between Northshore Mainland
Services Inc., et al., and Citibank, N.A., clarifying certain
provisions of the Cash Management Order.

The parties agreed that Citibank will honor any postpetition or
prepetition check, advice, draft, or other notification drawn or
issued by the Debtors.  Citibank will also honor all
Debtor-directed electronic transfers between accounts maintained by
the Debtors, including the usage of "Citi-direct," initiated either
prepetition or postpetition, at the direction of a representative
of the Debtors who states that the transfer is consistent with the
Cash Management Order.

                           About Baha Mar

Orlando, Florida-based Northshore Mainland Services Inc., Baha Mar
Enterprises Ltd., and their affiliates sought protection under
Chapter 11 of the Bankruptcy Code on June 29, 2015 (Bankr. D.Del.,
Case No. 15-11402).  Baha Mar owns, and is in the final stages of
developing, a 3.3 million square foot resort complex located in
Cable Beach, Nassau, The Bahamas.

The case is assigned to Judge Kevin J. Carey.

The Debtors are represented by Paul S. Aronzon, Esq., and Mark
Shinderman, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Los
Angeles, California; and Gerard Uzzi, Esq., Thomas J. Matz, Esq.,
and Steven Z. Szanzer, Esq., at Milbank, Tweed, Hadley & McCloy
LLP, in New York.  The Debtors' Delaware counsel are Laura Davis
Jones, Esq., James E. O'Neill, Esq., Colin R. Robinson, Esq., and
Peter J. Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware.  The Debtors' Bahamian counsel is Glinton
Sweeting O'Brien.  The Debtors' special litigation counsel is Kobre
& Kim LLP.  The Debtors' construction counsel is Glaser Weil Fink
Howard Avchen & Shapiro LLP.

The Debtors' investment banker and financial advisor is Moelis
Company LLC.  The Debtors' claims and noticing agent is Prime Clerk
LLC.


BON-TON STORES: Gabelli, et al., Report 12.8% Equity Stake
----------------------------------------------------------
Gabelli Funds, LLC, GAMCO Asset Management Inc. and Teton Advisors,
Inc. reported that they beneficially own an aggregate of 2,307,652
shares, representing 12.82% of the approximately 17,996,099 shares
outstanding as reported in The Bon-Ton Stores, Inc.'s most recently
filed Form 10-Q for the quarterly period ended May 2, 2015.  A copy
of the regulatory filing is available for free at
http://is.gd/w8dvVd

                        About Bon-Ton Stores

Bon-Ton Stores, a Pennsylvania corporation, was founded in 1898
and is a department store operator in the United States, offering a
broad assortment of brand-name fashion apparel and accessories for
women, men and children.  The Company's merchandise offerings also
include cosmetics, home furnishings and other goods.  The Company
currently operate 270 stores in 26 states in the Northeast, Midwest
and upper Great Plains under the Bon-Ton, Bergner's, Boston Store,
Carson's, Elder-Beerman, Herberger's and Younkers nameplates,
encompassing a total of approximately 25 million square feet.

Bon-Ton Stores reported a net loss of $6.97 million on $2.75
billion of net sales for the fiscal year ended Jan. 31, 2015,
compared to a net loss of $3.55 million on $2.77 billion of net
sales for the fiscal year ended Feb. 1, 2014.  The Company reported
a net loss of $21.6 million for the fiscal year ended Feb. 2,
2013.

As of May 2, 2015, the Company had $1.6 billion in total assets,
$1.5 billion in total liabilities and $54.4 million in total
shareholders' equity.

                           *     *     *

As reported by the TCR on May 15, 2013, Moody's Investors Service
upgraded Bon-Ton Stores's Corporate Family Rating to 'B3' from
'Caa1' and its Probability of Default Rating to 'B3-PD' from
'Caa1-PD'.

"The upgrade of Bon-Ton's Corporate Family Rating considers the
company's ability to drive modest same store sales growth as well
as operating margin expansion beginning in the second half of 2012
and that these positive trends have continued, with the company
reporting that its same store were positive, and EBITDA margins
expanded, in the first fiscal quarter of 2013," said Moody's Vice
President Scott Tuhy.

As reported by the TCR on May 17, 2013, Standard & Poor's Ratings
Services affirmed the 'B-' corporate credit rating on Bon-Ton
Stores.


BROOKLYN RENAISSANCE: Section 341 Meeting Scheduled for Aug. 17
---------------------------------------------------------------
A meeting of creditors in the bankruptcy case of Brooklyn
Renaissance, LLC has been set for Aug. 17, 2015, at 2:00 p.m. at
Room 2579, 271-C Cadman Plaza East, in Brooklyn, New York.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Brooklyn Renaissance, LLC, sought Chapter 11 bankruptcy protection
(Bankr. E.D.N.Y. Case No. 15-43122) on July 6, 2015 in Brooklyn,
without stating a reason.  The Debtor estimated $10 million to $50
million in assets and less than $10 million in debt.  James McGown,
the managing member, signed the petition.  The case is assigned to
Judge Nancy Hershey Lord.  The Debtor tapped Jonathan S Pasternak,
Esq., at DelBello Donnellan Weingarten Wise & Wiederkehr, LLP, in
White Plains, New York, as counsel.  According to the docket, the
Debtor's Chapter 11 plan and disclosure statement are due Nov. 3,
2015.


CAESARS ENTERTAINMENT: Creditors Say LBO Shouldn't Be Part of Probe
-------------------------------------------------------------------
Joseph Checkler, writing for Dow Jones' Daily Bankruptcy Review,
reported that Caesars Entertainment Operating Co. creditors say its
bid to expand an independent examiner's investigation to include
the gambling company's 2008 leveraged buyout is actually designed
to halt the creditors' own probe into the LBO and is "neither
efficient not helpful."

According to the report, in a July 9 filing with U.S. Bankruptcy
Court in Chicago, Caesars' official committee of unsecured
creditors said if a judge orders examiner Richard Davis to look at
the 2008 Caesars private-equity buyout by Apollo Management LP and
TPG Capital, it would automatically halt the creditors' own probe
of the deal that has already begun.

                    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.


CAL DIVE: Bid to Form Committee of Maritime Lienholders Denied
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware denied the
motion of certain maritime claimants on vessels owned by Cal Dive
International, et al., for entry of an order directing the
appointment of an Official Committee of Maritime Lienholders.

As reported in the TCR on June 4, 2015, the Maritime Claimants,
namely, Doerle Food Services, Inc., McDonough Marine Service, and
MacTech Offshore, Inc., said they requested the Office of the U.S.
Trustee for the appointment but the U.S. Trustee responded with a
letter denying the request without explanation and without first
soliciting comment from other parties-in-interest.

The maritime lienholders are not adequately represented in the
Debtor's case, the Maritime Claimants tell the Court.

                   About Cal Dive International

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

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

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

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

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

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


CHASSIX HOLDINGS: Benefit Street's Plan Objection Overruled
-----------------------------------------------------------
Bankruptcy Judge Michael E. Wiles of the Southern District of New
York tossed out objections filed by Benefit Street Credit Alpha
Master Fund Ltd. and PECM Strategic Funding LP against the Modified
Second Amended Joint Plan of Reorganization for Chassix Holdings
Inc., based on evidence and arguments of counsel at a hearing on
July 2, 2015.

In a July 9 Opinion regarding the Benefit Street Objections, Judge
Wiles said he will confirm the Second Amended Plan, subject to
modification and clarification of certain release provisions; and
overrule the objections.

Chassix Holdings ultimately is owned by accounts and entities
managed by Platinum Equity Advisors LLC.  Holdings conducts no
operations of its own. The assets of Holdings (with the exception
of possible litigation claims) consist of the equity in Holdings'
subsidiaries.

On December 10, 2013, Holdings issued $150 million of 10%/10.75%
Senior PIK Toggle Notes Due 2018.  Holdings is the only obligor
with respect to the Unsecured Notes. Approximately $140 million of
the proceeds from the issuance of the Unsecured Notes were used to
pay a dividend to Platinum.

The Debtors filed voluntary Chapter11 petitions on March 12, 2015.
Prior to that date, the Debtors and their advisors negotiated the
terms of a proposed plan of reorganization with major creditors,
customers and other parties in interest. The parties to those
negotiations included (i) certain holders of the 9-1/4% Senior
Secured Notes due 2018 issued by Chassix Inc. and guaranteed by
certain subsidiaries of Chassix Inc.; (ii) certain holders of the
Unsecured Notes (most of whom also held Secured Notes); (iii) the
Debtors' largest customers, including General Motors, LLC, Ford
Motor Company, FCA US LLC f/k/a Chrysler Group LLC, Nissan North
America, Inc. and BMW Manufacturing Co. (the "OEM Customers"); and
(iv) Platinum. More recently the Debtors and other parties agreed
with the Official Committee of Unsecured Creditors to make
additional modifications to the Plan to increase the proposed
distributions to unsecured creditors.

The key terms of the modified proposed Plan include:

     (a) The elimination of approximately $396 million of Secured
Notes and $161 million of Unsecured Notes, and the conversion of
those debts to equity;

     (b) Agreements with the OEM Customers to pricing and other
accommodations, including approximately $45 million in price
increases and new business and programs, plus waivers of certain
setoffs and other claims;

     (c) New financing for the Debtors' operations after emergence
from bankruptcy;

     (d) Cash distributions to trade creditors with an estimated
value equal to approximately 35% to 40% of the amounts of their
allowed claims;

     (e) Cash distributions to other unsecured creditors of the
Debtors' operating companies with an estimated value equal to
approximately 10% of the amounts of their allowed claims;

     (f) Distributions of stock, warrants and cash to the holders
of the Unsecured Notes, having an estimated value equal to 11.9% of
their claims; and

     (g) Releases of claims against Platinum and other parties,
including not only releases of claims belonging to the Debtors but
also of "third party" claims that might be asserted by creditors of
the Debtors.

All classes of creditors that were entitled to vote have voted to
approve the Plan.

Benefit Street filed the only remaining objections. Benefit Street
argues that Holdings owns valuable litigation claims against
Platinum with respect to the 2013 dividend; that the proposed
settlement of those claims is not on reasonable terms; that the
litigation claims (if pursued) would provide holders of the
Unsecured Notes with recoveries that are greater than the
recoveries they will receive under the Plan, and that the Plan
therefore fails to satisfy the requirements of Section 1129(a)(7)
of the Bankruptcy Code; that the proposed third party releases in
favor of Platinum and other parties are unwarranted; and that the
Plan allegedly was not filed in good faith.

Benefit Street asks the Court to deny confirmation of the Plan, to
sever Holdings' case from the other Debtors' cases and to appoint a
trustee for Holdings.

At the hearing on July 2, 2015, Benefit Street and all other
parties present agreed that the Declarations of David J. Woodward;
Howard Tucker; Bryan P. Collins; David A. Hall; and Christine
Pullo; and the exhibits to those declarations, would be received
into evidence, and those witnesses were cross-examined by Benefit
Street's counsel (with the exception of Mr. Collins and Ms. Pullo,
as to whom cross-examination was waived). The Court also heard the
testimony of Brendan T. Joyce on direct examination and on
cross-examination and received additional exhibits during his
testimony.

Mr. Woodward -- david.woodward@fticonsulting.com -- the interim
Chief Financial Officer of Holdings and of its domestic
subsidiaries and also a Senior Managing Director at FTI Consulting,
Inc., said the potential claims against Platinum regarding the
December 2013 dividend had been reviewed by the Debtors' counsel,
Weil Gotshal & Manges LLP.  However, the Debtors elected not to
waive the attorney-client privilege and did not produce counsel's
report or analysis of the claims at the hearing. Mr. Woodward
stated that after considering the matter thoroughly, the Debtors
and the Informal Committee of Noteholders had each determined that
the settlement with Platinum was appropriate. On cross-examination,
Mr. Woodward admitted that he himself did not participate in the
negotiation of the settlement or in the review of the potential
claims against Platinum, except that Mr. Woodward was present
during a presentation by the Debtors' counsel to the board of
directors.

Mr. Woodward stated that the members of the Informal Committee of
Noteholders held 73% of the Secured Notes and 80% of the Unsecured
Notes. Mr. Woodward noted that in addition to the tax waivers,
Platinum had agreed to contribute $1 million to the amounts to be
distributed under the Plan, to waive approximately $10 million of
intercompany claims that it owned, and to waive its potential right
to reimbursement of $1.25 million of restructuring-related
expenses.

Mr. Joyce -- brendan.joyce@fticonsulting.com -- a Managing Director
of FTI and a temporary employee in the Finance Department of
Chassix, Inc., testified that the holders of Unsecured Notes have
total claims of approximately $160 million against Holdings and
that other creditors had filed claims against Holdings totaling
approximately $140 million, including (a) a litigation claim by
Allison Transmission, Inc.; (b) intercompany claims asserted by
Platinum; (c) various claims asserted by the OEM Customers; and (d)
other small claims. Mr. Joyce also testified that the Debtors
estimated that Holdings would likely incur additional
administrative expenses (including trustee fees and litigation
costs) if it were to pursue litigation against Platinum, and that
Holdings would likely need to employ counsel on a contingency fee
basis for that purpose. Based on these assumptions, Mr. Joyce
testified that Holdings would need to recover at least $19 million
from litigation against Platinum before it would have any funds
left (after payment of a one-third contingency fee and payment of
administrative expenses) for distribution to the unsecured
creditors of Holdings, and that Holdings would need to recover at
least $80 million before the distributions to the holders of
Unsecured Notes would equal the distributions to be made under the
Plan. (Mathematically these calculations presume that expenses,
apart from contingency fees, would be approximately $12.66
million.) Mr. Joyce testified that he had been instructed by
counsel to presume that litigation claims against Platinum would
have no value for purposes of his liquidation analyses, but that he
himself had not analyzed or valued those claims.

On cross-examination Mr. Joyce acknowledged that the Disclosure
Statement did not include a "stand-alone" liquidation analysis for
Holdings and that his analysis as to Holdings had been prepared
more recently. In response to questions by the Court, Mr. Joyce
testified that his calculations presumed that all of the filed
claims against Holdings would be allowed and therefore that
potential recoveries by Holdings would have to be distributed among
creditors holding $300 million of claims (and not just to holders
of the Unsecured Notes), but that he had not reviewed the other
filed claims to determine if that assumption was reasonable.

Mr. Hall -- DHall@alvarezandmarsal.com -- a Managing Director of
Alvarez & Marsal Global Forensic Dispute Services, said he had
analyzed the financial condition of Holdings at the time the 2013
dividend was paid. Mr. Hall calculated the enterprise value of
Holdings and its subsidiaries on a "discounted cash flow" and
"market multiple" basis. The discounted cash flow calculations were
based on December 2013 cash flow forecasts that the Debtors had
prepared. Mr. Hall testified at the hearing (in response to
questions by the Court) that he had reviewed those forecasts and
determined that they were reasonable, and noted that they were less
optimistic than the forecasts that had been prepared earlier in
2013.

Mr. Hall's declaration concluded that Holdings had a value of
$549.9 million on a discounted cash flow basis (excluding cash on
hand) and a value of $619.2 million on a "market multiple" basis
(again excluding cash on hand), from which Mr. Hall concluded that
Holdings likely had an enterprise value (excluding cash on hand) of
$584.5 million as of December 2013. Mr. Hall also concluded that
the total value (including cash on hand) was $615.4 million, which
resulted in a "surplus of between $96.1 and $124.5 million over the
$519.4 million in debt that was outstanding (taking into account
the dividend transaction)."

On cross-examination, Mr. Hall acknowledged that in his Declaration
he had concluded that it was "more likely than not" that Chassix
was solvent as of the December Dividend Dates. He also stated that
he had not been provided with a copy of any solvency analysis that
had been done at the time the dividend was paid.

Mr. Tucker is a Tax Partner in the New York area Transaction Tax
Group of Ernst & Young LLP, and Mr. Collins is a senior partner
with Deloitte Tax LLP. They submitted evidence, in their
declarations, as to the values of certain tax benefits that were
being made available to Holdings and its subsidiaries as a result
of the settlements with Platinum. One feature of the settlement is
an agreement by Platinum to waive the ability to take certain stock
losses with respect to the investments in the Debtors. Mr. Tucker
and Mr. Collins testified that the waiver would produce positive
tax benefits for the reorganized Debtors having a total present
value of approximately $19.8 million.

Ms. Pullo is the Senior Director of Solicitation at Prime Clerk
LLC, the firm which tabulated ballots in connection with the Plan.
Her declaration showed that all classes of creditors that were
entitled to vote had accepted the Plan.

Benefit Street contends that the Debtors were controlled by
Platinum and that Platinum therefore allegedly dictated the terms
of the settlement. However, the Court has no reason to question the
testimony by Mr. Woodward that the release of Platinum was
negotiated at arm's-length by the Informal Committee of
Noteholders, and not by the Debtors.

In addition, the members of the Informal Committee of Noteholders
(who hold 73% of the Secured Notes and 80% of the Unsecured Notes)
continue to support the settlement. Their support is a strong
indication of the reasonableness of the negotiated terms.

Benefit Street argued that the support of the Informal Committee
should be discounted because its members own Secured Notes as well
as Unsecured Notes, but that argument makes no economic sense. The
value of the settlement with Platinum consisted of the tax benefits
and other financial concessions made by Platinum. If the other
holders of Unsecured Notes believed that the claims against
Platinum were worth more than was being provided through the
settlement, then as the holders of 80% of the Unsecured Notes they
would have had every economic incentive to insist that Holdings
pursue the claims against Platinum, and that is true regardless of
whether they also owned some of the Secured Notes. Benefit Street
offered no reason to think otherwise.

In overruling Benefit Street's Objection, Judge Wiles said the
settlement with Platinum has the overwhelming approval of the
Debtors' creditors, including the other holders of Unsecured Notes.
"The evidence before the Court suggests no reason to believe that
the claims against Platinum have any value, and the Court concludes
(exercising its own independent judgment) that the settlement of
the dividend claims is reasonable and that the Plan provides the
holders of Unsecured Notes with recoveries that exceed the amounts
they would receive in a Chapter 7 liquidation of Holdings," Judge
Wiles said.

In the same ruling, Judge Wiles said the definition of "Consenting
Creditors" in the Plan must be replaced by the following
definition: "1.27 Consenting Creditors means (a) any Released
Party, (b) any holder of a Claim who voted to accept the Plan, and
(c) any holder of a Claim who voted to reject the Plan but who
affirmatively elected to provide releases by checking the
appropriate box on the ballot form."

The judge also said the releases set forth in Section 10.7 must be
modified to make clear that the only creditors and holders of
interests who are granting those releases are Consenting Creditors.
These changes will be incorporated into the Confirmation Order and
will be deemed to be modifications to the proposed Plan.

A copy of Judge Wiles' July 9, 2015 Opinion is available at
http://is.gd/X6Ki93from Leagle.com.

Ray C. Schrock, Esq., Richard W. Slack, Esq., Richard L. Levine,
Esq., Matthew P. Goren, Esq., WEIL, GOTSHAL & MANGES LLP, New York,
New York, Counsel for the Debtors.

Andrew M. LeBlanc, Esq., Sam Khalil, Esq., MILBANK, TWEED, HADLEY &
McCLOY LLP, New York, New York, Counsel for Platinum Equity
Advisors, LLC

Arik Preis, Esq., Jason P. Rubin, Esq., Deborah Newman, Esq., AKIN
GUMP STRAUSS HAUER & FELD LLP, New York, New York, Counsel for the
Official Committee of Unsecured Creditors.

Emanuel C. Grillo, Esq., Christopher Newcomb, Esq., BAKER BOTTS
LLP, New York, New York, Counsel for Benefit Street Credit Alpha
Master Fund Ltd. and PECM Strategic Funding LP.

Alice Belisle Eaton, Esq., Andrew Rosenberg, Esq., Kyle Kimpur,
Esq., PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP, New York, New
York, Counsel for the Informal Committee of Noteholders.

Andrea B. Schwartz, Esq., Susan Golden, Esq., WILLIAM K.
HARRINGTON, UNITED STATES TRUSTEE, New York, New York.

                       About Chassix Holdings

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

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

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

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

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

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


COLT DEFENSE: Wins Final Approval of DIP Financing
--------------------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review,
reported that deals with key creditors cleared the way July 10 for
gun maker Colt Defense LLC to receive final court approval on
financing to get it through bankruptcy.

According to the report, Judge Laurie Selber Silverstein approved
the rescue-loan package at a hearing in the U.S. Bankruptcy Court
in Wilmington, Del., over the objection of Sciens Capital
Management, the troubled company's majority owner.

The Term DIP Loan Agreement with Wilmington Savings Fund Society,
FSB, as agent, and certain lenders, provides for a term loan
commitment of up to approximately $33.33 million consisting of an
initial term loan of approximately $4.00 million which was drawn on
June 17, 2015, a second term loan of approximately $2.67 million
which was drawn on June 25, 2015, and, subject to certain
conditions being met, including the entry of certain orders by the
bankruptcy court, a subsequent additional draw of approximately
$6.67 million (collectively, the "Tranche A Term Loans") and a
deemed term loan of approximately $20.00 million (the "Tranche B
Term Loan") which will be substituted and exchanged for (and deemed
to have prepaid) approximately $20.00 million of the Company's
existing debt under the Term Loan Agreement, as amended, dated as
of November 17, 2014 with Wilmington, as agent, and the lenders
party thereto.

The Senior DIP Credit Agreement with Cortland Capital Market
Services LLC, as agent, and certain lenders, provides for a term
loan commitment of up to approximately $41.67 million consisting
of:

     -- an initial term loan of approximately $2.00 million which
was drawn on June 17, 2015, a second term loan of approximately
$1.33 million which was drawn on June 26, 2015, and,

     -- subject to certain conditions being met, including the
entry of certain orders by the bankruptcy court, a subsequent
additional draw of approximately $3.33 million (collectively, the
"Tranche A Loans"), and

     -- a deemed term loan (the "Tranche B Loan") of approximately
$35.00 million which will be substituted and exchanged for (and
deemed to have prepaid) approximately $35.00 million of the
Company's existing debt under the Credit Agreement dated as of
February 9, 2015, as amended, with Cortland, as agent, and the
lenders party thereto.  

                        About Colt Defense

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 12, 2015, Colt's exchange offer, consent solicitation and
solicitation of acceptances of a prepackaged plan of
reorganization, dated April 14, 2015, as supplemented, with respect
to its $250 million in 8.75% Senior Notes due 2017 expired. The
conditions to the exchange offer, the consent solicitation and the
prepackaged plan of reorganization were not satisfied, and those
conditions were not waived by Colt.  Colt's restructuring support
agreement with Marblegate Special Opportunities Master Fund, L.P.
and Morgan Stanley Senior Funding, Inc., the Company's senior
secured term loan lenders, requires it to file for Chapter 11
bankruptcy.

Accordingly, Colt Holding Company LLC and nine affiliates,
including Colt Defense LLC, on June 14, 2015, filed voluntary
petitions (Bankr. D. Del. Lead Case No. 15-11296) for relief under
Chapter 11 of the Bankruptcy Code to pursue a sale of the assets as
a going concern.  Colt Defense estimated $100 million to $500
million in assets and debt.

On June 16, 2015, the Court directed the joined administration of
the assets.

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.  Perella Weinberg Partners L.P. is
acting as financial advisor of the Company, and Mackinac Partners
LLC is acting as its restructuring advisor.

Wilmington Savings Fund Society, FSB, as agent under the $13.33
million Term DIP Loan Agreement, is represented by Pryor Cashman
LLP's Eric M. Hellige, Esq.; and Willkie Farr & Gallagher LLP's
Leonard Klingbaum, Esq.

Cortland Capital Market Services LLC, as agent under the $6.67
million Senior DIP Credit Agreement, is represented by Holland &
Knight LLP's Joshua M. Spencer, Esq.; Stroock & Stroock & Lavan
LLP's Brett Lawrence, Esq.; and Osler, Hoskin & Harcourt LLP's
Richard Borins, Esq., and Tracy Sandler, Esq.

The U.S. Trustee for Region 3 appointed five creditors of Colt
Defense Inc. and its affiliates to serve on the official committee
of unsecured creditors.

                           *     *     *

Colt's equity sponsor, Sciens Capital Management, has agreed to act
as a stalking horse bidder in the proposed asset sale. Details of
the deal were not provided in Colt's news statement announcing the
Chapter 11 filing.  Colt, however, said it would be soliciting
competing bids and has appointed an independent committee of its
board of managers to manage the process and evaluate bids.  Colt
expects to complete the entire Chapter 11 process in 60-90 days.

Sciens Capital is represented by Skadden, Arps, Slate, Meagher &
Flom LLP's Anthony W. Clark, Esq., and Jason M. Liberi, Esq.


CORINTHIAN COLLEGES: Committee Fights US Objection to Stay Motion
-----------------------------------------------------------------
The Committee of Student Creditors in the Chapter 11 cases of
Corinthian Colleges, Inc., et al., asks that the U.S. Bankruptcy
Court for the District of Delaware enter an amended proposed order
granting the Committee's request to extend the scope of the
automatic stay.

The Committee filed on June 26, 2015, an omnibus response -- a copy
of which is available for free at http://is.gd/Ee6SQd-- to the
United States' June 23, 2015 objection to the motion of the
Committee for an order applying the automatic stay, saying that the
objection is based largely upon the incorrect assertion that the
Higher Education Act provides the exclusive process by which the
Debtors and the students' relative liability to ED and each other
can be resolved.  The objection, according to the Committee,
necessarily fails because the bankruptcy process is the proper
forum for recognizing the extent of the Debtors' liability and the
treatment of the claims that arise therefrom.

In its June 8, 2015 motion, the Committee doesn't seek application
or extension of the stay to interfere with any administrative
proceeding that relates solely to the cancellation of alleged
student loan debt.  The Committee states that it is only seeking
the application or extension of the automatic stay to prevent the
collection of the alleged obligations.  To the extent that the
motion or the amended proposed order provides otherwise, the
Committee says that it will make the appropriate modifications and
submit a revised proposed order.

According to the Committee, the application or extension of the
automatic stay as necessary to stay enforcement and collection of
alleged student loan debt is essential to facilitating a meaningful
Chapter 11 process in these cases and the circumstances presented
justify extension of the automatic stay.  The motion seeks to stop
the Department of Education from coming after students for alleged
loans that were not legally issued or are not legally binding
because of the Debtors' misconduct.  The Debtors' estates are
solely responsible for these alleged 'student loans' and that
liability will be addressed in the Debtors’ bankruptcy cases.

The United States claims in its objection -- a copy of which is
available for free at http://is.gd/ZCr8HX-- that for several
reasons, the Department of Education should not be enjoined from
participating in any proceeding concerning the loans -- including
the Department of Education's ongoing administrative proceedings to
determine whether the students should be relieved from repaying
this debt.  Any action to collect, assess or adjust the students'
loan debt to the United States would not violate the automatic stay
of the U.S. Bankruptcy Code because it would not address or affect
an obligation or asset of any of the Debtors.  The requested stay,
according to the United States, should be denied because no unity
of interest between students and the Debtors exists, and the
Debtors do not appear to need the stay to reorganize.

The Debtors responded on June 24, 2015, to the Committee's stay
motion, to address the many baseless allegations contained in the
motion.  The Committee, the Debtors claim, relies upon the
unsupported allegations while ignoring the evidence and positive
outcomes generated by the Debtors' schools and without any
reference to the responsive documents filed by the Debtors in the
proceedings.  A copy of the response is available for free at:

                        http://is.gd/x9EuPs

                     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
the official committee of unsecured creditors.


CORINTHIAN COLLEGES: Defaulted Loans Get Temporary Reprieve
-----------------------------------------------------------
Stephanie Gleason, writing for Dow Jones' Daily Bankruptcy Review,
reported that the U.S. Department of Education will temporarily
cease collection efforts on 40,000 defaulted Corinthian Colleges
Inc. student loans, according to documents filed on July 10.

According to the report, the agreement comes at the urging of a
bankruptcy judge, who declined to order the government to take this
action but strongly encouraged a voluntary resolution.

                    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
the official committee of unsecured creditors.


CRESCENT & SPRAGUE: Case Summary & 20 Top Unsecured Creditors
-------------------------------------------------------------
Debtor: Crescent & Sprague Supply Co., Inc.
        PO Box 1027
        Marietta, OH 45750

Case No.: 15-54509

Chapter 11 Petition Date: July 10, 2015

Court: United States Bankruptcy Court
       Southern District of Ohio (Columbus)

Judge: Hon. Charles M Caldwell

Debtor's Counsel: Khadine L. Ritter, Esq.
                  THEISEN BROCK
                  424 Second Street
                  PO Box 739
                  Marietta, OH 45750
                  Tel: 740-373-5455
                  Fax: 740-373-4409
                  Email: ritter@theisenbrock.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Brce R. Brunton, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ohsb15-54509.pdf


DUNE ENERGY: Gets One Week Extension of DIP Loan Maturity Date
--------------------------------------------------------------
Dune Energy, Inc. and the company's DIP Lenders and the DIP Agent
on July 6, 2015, entered into Amendment No. 1 to the DIP Credit
Agreement to extend the maturity date of the DIP Financing to the
earlier of (a) July 24, 2015, (b) the occurrence of an event of
default under the DIP Credit Agreement, and (c) the date which is
the closing date of the sale of all or substantially all of the
assets of the Debtors pursuant to Section 363 of the Bankruptcy
Code as contemplated in the DIP Credit Agreement.

The Debtors entered into a credit agreement dated March 10, 2015
among the Company, the Lenders from time to time party thereto and
Bank of Montreal, as administrative agent.  The DIP Lenders agreed
to provide up to $10 million of senior secured super priority
debtor-in-possession financing to be used for post-petition
operating expenses of the Debtors, certain cost and expense
reimbursement obligations owed under the Pre-Petition Credit
Agreement (as defined in the DIP Credit Agreement), and other costs
and expenses of administration of the Chapter 11 Cases in
accordance with the budget agreed upon by the Company and the DIP
Lenders.

Under the prior agreement, the maturity date of the DIP Financing
is the earlier of (a) April 7, 2015, unless the final financing
order shall have been entered by the Bankruptcy Court on or before
such date, in which case the maturity date shall be July 16, 2015,
and (b) the date on which the sale of all or substantially all of
the assets of the Debtors is consummated pursuant to Section 363 of
the Bankruptcy Code as contemplated in the DIP Credit Agreement.

Based on the Company’s debt and other obligations, the Company
does not expect to be able to distribute any proceeds as a result
of the Chapter 11 Cases to the Company’s stockholders and
therefore believes that the shares of its common stock are
worthless.

The lenders under the DIP facility are Bank of Montreal and CIT
Bank.

A copy of Amendment No. 1 is available at http://is.gd/CffYRs

As reported by the Troubled Company Reporter on June 30, Bankruptcy
Judge Judge H. Christopher Mott in Austin, Texas, has extended Dune
Energy's deadline to exclusively file a Chapter 11 plan to and
including October 5, 2015.  The Debtors' exclusive period to
solicit votes in favor of a Chapter 11 plan is extended to and
including December 3, 2015.

The Debtors said in court papers they have been diligently pursuing
a sale of all or substantially all of their assets for the benefit
of their estates and creditors and they are currently working on a
Chapter 11 plan and disclosure statement, the mechanics of which
will depend in part on the results of the sale process.

                        About Dune Energy

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

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

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

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

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

                        *   *   *

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


ENERGY FUTURE: Bid to Dismiss v. UMB Bank Granted
-------------------------------------------------
The Bankruptcy Court in the District of Delaware granted the motion
to dismiss the case captioned ENERGY FUTURE INTERMEDIATE HOLDING
COMPANY LLC AND EFIH FINANCE INC., Plaintiffs, v. UMB BANK, N.A.,
AS INDENTURE TRUSTEE, Defendant, CASE NO. 14-10979 (CSS), ADV. PRO.
NO. 14-51002 (CSS)(Bankr. D. Del.).

Energy Future Intermediate Holding Company LL and EFIH Finance Inc.
sought declaratory judgment related to prepayment penalties and
post-petition interest in connection with the repayment of
unsecured 11.25%/12.25% Senior Toggle Notes Due 2018.

UMB Bank, N.A., as Indenture Trustee for the PIK Notes, asserted
that the EFIH Debtors have not paid the PIK Notes and the
circumstances of such payment, if any, cannot be known at this
time. Thus, the Trustee moved for the dismissal of the Complaint
for lack of subject matter jurisdiction, alleging that the EFIH
Debtors have presented no case or controversy in the Complaint, and
thus, the issue are not ripe for adjudication.

The Court granted the Motion to Dismiss as there are too many
unknown factors relating to the repayment of the PIK Notes to
determine whether prepayment penalties and post-petition interest
would be due under the terms of the PIK Note Indenture. It added,
however, that the EFIH Debtors are not prevented from objecting to
the proof of claim filed by the Trustee on behalf of the PIK Notes,
which asserts claims for prepayment penalties and post-petition
interest.

A copy of the June 15, 2015 opinion is available at
http://is.gd/k9QvPWfrom Leagle.com.

                        About Energy Future

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

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

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

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

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

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

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

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

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


ENERGY FUTURE: EFH Committee Balks at Asbestos Claims Bar Date
--------------------------------------------------------------
The EFH Official Committee in the Chapter 11 cases of Energy Future
Holdings Corp., et al., objected to the Debtors' proposed order (a)
setting bar date for filing asbestos proofs of claim, and (b)
approving the form and manner for filing asbestos proofs of claim.

The EFH Committee continues to view the Debtors' determination to
proceed with the establishment of an Asbestos Bar Date in the case
as ill-advised and wasteful.  The EFH Committee notes the Debtors
have not provided the Court with any evidence or basis upon which
an Asbestos Bar Date is a reasonable exercise of business judgment
on the facts of the cases.

According to the EFH Committee, the Debtors' proposed order is
improper because it not only seeks to bar claimants from voting and
from distributions from the Debtors' estates, but also to discharge
Asbestos Claims.

                        About Energy Future

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

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

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

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

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

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

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

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

As reported in the Troubled Company Reporter on June 30, 2015,
Energy Future Holdings Corp., has scrapped a bankruptcy exit plan
centered on the sale of its multibillion dollar power line stake
and instead will pursue a reorganization.

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



ENERGY FUTURE: Seeks Nod for McDermott Work on Economic Metrics
---------------------------------------------------------------
Energy Future Holdings Corp., et al., ask the U.S. Bankruptcy Court
for the District of Delaware for permission to expand the scope of
the retention and employment of McDermott Will & Emery LLP, nunc
pro tunc to June 2, 2015.

McDermott will, among other things:

   a. review and evaluate potential asset, income, and other
economic metrics with respect to the potential restructuring of
Oncor Electric Delivery Holdings Company LLC and its affiliated
companies into a property company and a separate operating company
to enable EFH's economic interest in Oncor to be held in a real
estate investment trust structure; and

   b. apply transfer pricing principles to these economic metrics
to develop potential models for rent payments between PropCo and
OpCo.

McDermott will continue to use its reasonable efforts to avoid any
duplication of services provided to the Debtors by any of the
Debtors' other retained professionals in the cases.

Iskender H. Catto, a partner with the law firm of McDermott, which
maintains offices throughout the world, including at 340 Madison
Avenue, New York City, tells the Court that the firm will apply for
compensation for the additional services under the same terms set
forth in the original order, subject to the Court's approval and in
compliance with applicable provisions of the Bankruptcy Code, the
Bankruptcy Rules, the Local Bankruptcy Rules, guidelines
established by the U.S. Trustee, and any other applicable
procedures and orders of the Court.

To the best of the Debtors' knowledge, McDermott continues to
neither hold nor represent any interest adverse to the Debtors.

The Debtors propose that the Court consider the matter on July 16,
2015, at 9:30 a.m.  Objections, if any, are due July 9, at
4:00 p.m.

                        About Energy Future

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

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

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

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

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

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

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

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

As reported in the Troubled Company Reporter on June 30, 2015,
Energy Future Holdings Corp., has scrapped a bankruptcy exit plan
centered on the sale of its multibillion dollar power line stake
and instead will pursue a reorganization.

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



ERG INTERMEDIATE: Committee Fails in Bid to Move Cases to Calif.
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
denied, with prejudice, the motion of the Official Committee of
Unsecured Creditors in the Chapter 11 cases of ERG Intermediate
Holdings, LLC, et al., to transfer the venue of the cases.

Objections to the motion were filed by the Debtors, CLMG Corp., and
Chevron U.S.A. Inc. and Union Oil Company of California.

The Committee said the cases should be moved to the Central
District of California where ERG has the vast majority of its
assets -- oil and gas assets to be sold in the cases -- and the
majority of its employees and creditors are located.

According to the Committee, the cases were filed in the Northern
District of Texas at the direction of the Debtors' secured lender,
CLMG.  The Committee avers that the Debtors were forced to file
here as a condition to obtaining DIP financing and notwithstanding
the location of the Debtors' headquarters in Houston, in the
Southern District, and the location of their principal assets in
California.

The Committee also noted that permitting the cases to remain in the
District would improperly reward the Debtors for their decision to
file in any District in Texas that the lender mandated when
virtually all of the Debtors' -- and the lender's -- connections
are to other Districts within the state.

                       About ERG Resources

ERG Resources, LLC, is a privately owned oil & gas producer that
was formed in 1996.  Since 2010, ERG Resources and ERG Operating
Co. have been primarily engaged in the exploration and production
of crude oil and natural gas in the Cat Canyon Field in Santa
Barbara County, California.  ERG Resources owns 19,027 gross lease
acreage in the Cat Canyon Field.  ERG Resources also owns and
operates oil & gas leases representing 683 gross acres of leasehold
located in Liberty County, Texas.  The Company's corporate
headquarters is located in Houston, Texas.  Scott Y. Wood, through
two of his affiliates, owns 100% of the membership units in ERG
Intermediate Holdings LLC, the parent company.

ERG Intermediate Holdings, ERG Resources and three affiliates
sought Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No.
15-31858) on April 30, 2015, in Dallas, Texas.

The Debtors tapped Jones Day as counsel; DLA Piper as co-counsel;
and Epiq Bankruptcy Solutions, LLC.  Rebecca A. Roof of AP
Services, LLC was designated as chief restructuring officer.

ERG Intermediate estimated $100 million to $500 million in assets
and debt.  ERG Intermediate Holdings, LLC disclosed $0 in total
assets and $400,000,000 in liabilities as of the Chapter 11
filing.

The U.S. Trustee appointed five creditors of the company to serve
on the official committee of unsecured creditors.  The Committee
tapped to retain Pachulski Stang Ziehl & Jones LLP as lead counsel,
Searcy & Searcy P.C., as local counsel, and Conway Mackenzie, Inc.
as its financial advisor.



ERG INTERMEDIATE: Epiq Approved as Claims & Noticing Agent
----------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized, in a final order, ERG Intermediate Holdings, LLC, et
al., to employ Epiq Bankruptcy Solutions, LLC, as claims, noticing
and balloting agent.

                       About ERG Resources

ERG Resources, LLC, is a privately owned oil & gas producer that
was formed in 1996.  Since 2010, ERG Resources and ERG Operating
Co. have been primarily engaged in the exploration and production
of crude oil and natural gas in the Cat Canyon Field in Santa
Barbara County, California.  ERG Resources owns 19,027 gross lease
acreage in the Cat Canyon Field.  ERG Resources also owns and
operates oil & gas leases representing 683 gross acres of leasehold
located in Liberty County, Texas.  The Company's corporate
headquarters is located in Houston, Texas.  Scott Y. Wood, through
two of his affiliates, owns 100% of the membership units in ERG
Intermediate Holdings LLC, the parent company.

ERG Intermediate Holdings, ERG Resources and three affiliates
sought Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No.
15-31858) on April 30, 2015, in Dallas, Texas.

The Debtors tapped Jones Day as counsel; DLA Piper as co-counsel;
and Epiq Bankruptcy Solutions, LLC.  Rebecca A. Roof of AP
Services, LLC was designated as chief restructuring officer.

ERG Intermediate estimated $100 million to $500 million in assets
and debt.  ERG Intermediate Holdings, LLC disclosed $0 in total
assets and $400,000,000 in liabilities as of the Chapter 11
filing.

The U.S. Trustee appointed five creditors of the company to serve
on the official committee of unsecured creditors.  The Committee
tapped to retain Pachulski Stang Ziehl & Jones LLP as lead counsel,
Searcy & Searcy P.C., as local counsel, and Conway Mackenzie, Inc.
as its financial advisor.


ERG INTERMEDIATE: Has Issues With Conway Retention
--------------------------------------------------
ERG Intermediate Holdings, LLC, et al., have objections to the
application of the Official Unsecured Creditors Committee to retain
Conway Mackenzie, Inc. as its financial advisor.

The Debtors specifically objects to the proposed indemnification,
contribution and release provisions.  According to the Debtors, CM
has unilaterally included indemnity and other related protection
provisions in its retention package that may create unnecessary and
additional exposure to the estates.  None of the provisions were
raised in advance with the Debtors, according to ERG.

                         Retention of CM

The Committee is seeking approval to retain CM to provide, among
other things:

   a. assistance in the analysis, review and monitoring of the
restructuring process, including, but not limited to an assessment
of potential recoveries for general unsecured creditors;

   b. assistance in the review of financial information prepared by
the Debtors, including, but not limited to, cash flow projections
and budgets, business plans, cash receipts and disbursement
analysis, asset and liability analysis, and the economic analysis
of proposed transactions for which Court
approval is sought; and

   c. assistance with the review of the Debtors' analysis of core
and non-core business assets and the potential disposition or
liquidation of the same.

Subject to the Court's approval, CM proposes to render its services
on an hourly fee basis according to its customary hourly rates,
which range from $400 (senior associate) to $795 (senior managing
director).

CM will be reimbursed for its reasonable and necessary
out-of-pocket expenses incurred in connection with this
engagement.

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

                       About ERG Resources

ERG Resources, LLC, is a privately owned oil & gas producer that
was formed in 1996.  Since 2010, ERG Resources and ERG Operating
Co. have been primarily engaged in the exploration and production
of crude oil and natural gas in the Cat Canyon Field in Santa
Barbara County, California.  ERG Resources owns 19,027 gross lease
acreage in the Cat Canyon Field.  ERG Resources also owns and
operates oil & gas leases representing 683 gross acres of leasehold
located in Liberty County, Texas.  The Company's corporate
headquarters is located in Houston, Texas.  Scott Y. Wood, through
two of his affiliates, owns 100% of the membership units in ERG
Intermediate Holdings LLC, the parent company.

ERG Intermediate Holdings, ERG Resources and three affiliates
sought Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No.
15-31858) on April 30, 2015, in Dallas, Texas.

The Debtors tapped Jones Day as counsel; DLA Piper as co-counsel;
and Epiq Bankruptcy Solutions, LLC.  Rebecca A. Roof of AP
Services, LLC was designated as chief restructuring officer.

ERG Intermediate estimated $100 million to $500 million in assets
and debt.  ERG Intermediate Holdings, LLC disclosed $0 in total
assets and $400,000,000 in liabilities as of the Chapter 11
filing.

The U.S. Trustee appointed five creditors of the company to serve
on the official committee of unsecured creditors.  The Committee
tapped to retain Pachulski Stang Ziehl & Jones LLP as lead counsel,
Searcy & Searcy P.C., as local counsel, and Conway Mackenzie, Inc.
as its financial advisor.



ERG INTERMEDIATE: Jones Day Approved as Bankruptcy Counsel
----------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized ERG Intermediate Holdings, LLC, et al., to employ Jones
Day as counsel nunc pro tunc to the Petition Date.

The Debtors, or any one of them individually should the need arise,
will retain separate counsel to represent their interests with
respect to any matter that involves direct adverse litigation
against the interests of Chevron U.S.A. Inc. or Union Oil Company
of California either in an adversary proceeding or, in the main
case, in the form of a direct objection to a proof of claim filed
by Chevron or in the form of the initiation of a contested matter
which relates solely or directly to Chevron. In the event separate
counsel is retained for such purpose, Jones Day will not advise,
participate or otherwise engage in the direct adverse action on the
Debtors' behalf.  Chevron reserves the right to object to any
separate counsel selected by Debtors.

Jones Day is expected to:

   a) complete its reconciliation of prepetition fees and expenses
actually incurred through the Petition Date no later than the
filing of its first interim fee application; and

   b) make a corresponding adjustment to the amount and application
of the retainer.

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

                       About ERG Resources

ERG Resources, LLC, is a privately owned oil & gas producer that
was formed in 1996.  Since 2010, ERG Resources and ERG Operating
Co. have been primarily engaged in the exploration and production
of crude oil and natural gas in the Cat Canyon Field in Santa
Barbara County, California.  ERG Resources owns 19,027 gross lease
acreage in the Cat Canyon Field.  ERG Resources also owns and
operates oil & gas leases representing 683 gross acres of leasehold
located in Liberty County, Texas.  The Company's corporate
headquarters is located in Houston, Texas.  Scott Y. Wood, through
two of his affiliates, owns 100% of the membership units in ERG
Intermediate Holdings LLC, the parent company.

ERG Intermediate Holdings, ERG Resources and three affiliates
sought Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No.
15-31858) on April 30, 2015, in Dallas, Texas.

The Debtors tapped Jones Day as counsel; DLA Piper as co-counsel;
and Epiq Bankruptcy Solutions, LLC.  Rebecca A. Roof of AP
Services, LLC was designated as chief restructuring officer.

ERG Intermediate estimated $100 million to $500 million in assets
and debt.  ERG Intermediate Holdings, LLC disclosed $0 in total
assets and $400,000,000 in liabilities as of the Chapter 11
filing.

The U.S. Trustee appointed five creditors of the company to serve
on the official committee of unsecured creditors.  The Committee
tapped to retain Pachulski Stang Ziehl & Jones LLP as lead counsel,
Searcy & Searcy P.C., as local counsel, and Conway Mackenzie, Inc.
as its financial advisor.


FAIRWAY BURNER: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Fairway Burner Service, Inc.
        620 Johnson Avenue, Unit 3
        Bohemia, NY 11716

Case No.: 15-72952

Chapter 11 Petition Date: July 10, 2015

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

Judge: Hon. Alan S Trust

Debtor's Counsel: Fredrick P Stern, Esq.
                  FREDRICK P STERN & ASSOCIATES PC
                  2163 Sunrise Highway
                  Islip, NY 11751
                  Tel: (631) 650-9260
                  Fax: (631) 650-9259
                  Email: FredPStern@netscape.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Bradley J. Galoppe, Sr., president.

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


FAME INDUSTRIES: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Fame Industries, Inc.
        51100 Grand River Avenue
        Wixom, MI 48393

Case No.: 15-50410

Chapter 11 Petition Date: July 10, 2015

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

Judge: Hon. Walter Shapero

Debtor's Counsel: Steven J. Cohen, Esq.
                  LIEBARMAN, GIES & COHEN, PLLC
                  31313 Northwestern Hwy., Suite 200
                  Farmington Hills, MI 48334
                  Tel: (248) 539-5500
                  Email: Steve@lgcpllc.com

Total Assets: $187,317

Total Liabilities: $1.8 million

The petition was signed by Joseph G. Tranchida, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mieb15-50410.pdf


FLETCHER INCOME: Suit v. CITCO et al. Remanded to District Court
----------------------------------------------------------------
In the case captioned FIREFIGHTERS' RETIREMENT SYSTEM; MUNICIPAL
EMPLOYEES RETIREMENT SYSTEM OF LOUISIANA; NEW ORLEANS FIREFIGHTERS'
PENSION & RELIEF FUND, Plaintiffs-Appellees, v. CITCO GROUP
LIMITED; CITCO FUND SERVICES (CAYMAN ISLANDS), LIMITED; CITCO
BANKING CORPORATION, N.V.; CITCO FUND SERVICES (EUROPE), BV; CITCO
(CANADA), INCORPORATED; CITCO TECHNOLOGY MANAGEMENT, INCORPORATED;
CITCO BANK NEDERLAND, N.V. DUBLIN BRANCH; CITCO GLOBAL CUSTODY,
N.V.; CITCO FUND SERVICES (BERMUDA), LIMITED; FLETCHER ASSET
MANAGEMENT, INCORPORATED; ALPHONSE FLETCHER, JR., also known as
Buddy; DENIS KIELY; DUHALLOW FINANCIAL SERVICES, L.L.C.; PETER
ZAYFERT; CONSULTING SERVICES GROUP, L.L.C.; JOE MEALS; SKADDEN,
ARPS, SLATE, MEAGHER & FLOM, L.L.P.; GRANT THORNTON INTERNATIONAL,
LIMITED, Defendants-Appellants, NO. 14-30857 (5th Cir.), the United
States Court of Appeals, Fifth Circuit reversed the district
court's decision to remand the case to state court and remanded the
case to the district court for consideration under its bankruptcy
jurisdiction.

Plaintiffs are Louisiana resident pension funds that invested in a
leveraged feeder fund located in the Cayman Islands (the "Leveraged
Fund"), which was part of a larger fund, the Fletcher Income
Arbitrage Fund, Ltd. (the "Arbitrage Fund").

In March 2013, Plaintiffs sued the Defendants in Louisiana state
court. Defendants were accused of violating various Louisiana
securities laws, among other state claims. Defendants removed the
case to federal district court based on a related Chapter 11
bankruptcy.

In January 2014, the Leveraged Fund and the Arbitrage Fund filed
voluntary petitions under Chapter 15 in the S.D.N.Y. Bankruptcy
Court.

The district court adopted the report and recommendation of the
magistrate judge and stated that it would remand the case "pursuant
to 28 U.S.C. Section 1334(c)(1) and 28 U.S.C. Section 1452(b)." The
district court, however, did not address diversity jurisdiction or
the Chapter 15 bankruptcies in the order.

On appeal, the 5th Circuit held that a district court cannot
permissively abstain from exercising jurisdiction in proceedings
related to Chapter 15 cases. It concluded that the district court
erred by permissively abstaining and equitably remanding the case
in the face of the Chapter 15 bankruptcies.

A copy of the June 5, 2015 opinion is available at
http://is.gd/CG9z0Vfrom Leagle.com.

Fletcher Income Arbitrage Fund Ltd. and FIA Leveraged Fund Ltd.
filed Chapter 15 bankruptcy petitions (Bankr. S.D.N.Y. Case No.
14-10094) on Jan. 17, 2014.  Timothy T. Brock, Esq., at Satterlee
Stephens Burke & Burke LLP serves as counsel. Fletcher Income
listed $1 million to $10 million in assets and $100 million to
$500
million in debt in its Chapter 15 petition.

Arbitrage is an "intermediate fund" in a multi-level
"master-feeder" fund structure involving companies variously
incorporated in the Cayman Islands, Delaware, and Bermuda
(Structure). Leveraged was a feeder fund at the base of the
Structure.


FREEDOM INDUSTRIES: Bids to Disqualify Prosecutors Denied
---------------------------------------------------------
Judge Thomas E. Johnston of the United States District Court for
Southern District of West Virginia, Charleston Division, denied
motions to disqualify the U.S. Attorney's Office for the Southern
District of West Virginia Office in the lawsuit filed by the U.S.
Government in connection with the 2014 chemical leak that
contaminated the city of Charleston's water supply.

Defendants Dennis P. Farrell and Gary L. Southern, both former
officials of Freedom Industries, Inc., allege that the supervisory
attorneys for United States, and most if not all of the members
U.S. Attorney's Office for the Southern District of West Virginia,
as well as their family members, have economic interests in the
outcome of the case and are victims of the environmental crimes
with which the Defendants have been charged.  Messrs. Farrell and
Southern argued that the entire U.S. Attorney's Office for the
Southern District of West Virginia should have recused itself from
prosecuting the case and, having failed to do so, should be
disqualified by the Court.

Judge Johnston denied the motions to disqualify, finding that the
supervisory prosecutors' continued participation in the case
despite the pendency of the class action lawsuit in which they are
putative members neither violates due process nor rises to the
level of an actual conflict of interest.  The harms suffered by the
supervising attorneys do not undermine the Court's confidence that
the prosecution of Messrs. Southern and Farrell can be conducted in
a disinterested fashion, or suggest that the supervisory attorneys
possesses anything more than "the appropriate interest that members
of society have in bringing a Defendant to justice with respect to
the crime with which he is charged."  

The Court does not find a basis for imposing the drastic remedy of
disqualifying the entire U.S. Attorney's Office for the Southern
District of West Virginia.

The case is UNITED STATES OF AMERICA, Plaintiff, v. DENNIS P.
FARRELL and GARY L. SOUTHERN, Defendants, Criminal Action No.
2:14-CR-00264, (S.D. W. Wa.).

A full-text copy of Judge Johnston's Memorandum Opinion and Order
dated June 24, 2015, is available at http://is.gd/axFoCKfrom
Leagle.com.

                      About Freedom Industries

Freedom Industries Inc. is engaged principally in the business of
producing specialty chemicals for the mining, steel and cement
industries.  The Debtor operates two production facilities located
in (a) Nitro, West Virginia; and (b) Charleston, West Virginia.

The company, connected to a chemical spill that tainted the water
supply in West Virginia, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. W.Va. Case No. 14-bk-20017) on
Jan. 17, 2014.  The case is assigned to Judge Ronald G. Pearson.
The petition was signed by Gary Southern, president.

The Debtor is represented by Mark E Freedlander, Esq., at McGuire
Woods LLP, in Pittsburgh, Pennsylvania; and Stephen L. Thompson,
Esq., at Barth & Thompson, in Charleston, West Virginia.

On Dec. 31, 2013, four companies merged under the umbrella of
Freedom Industries: Freedom Industries Inc., Etowah River Terminal
LLC, Poca Blending LLC and Crete Technologies LLC.

As reported in the Troubled Company Reporter on Feb. 20, 2014,
Kate White, writing for The Charleston Gazette, reported that the
Debtor disclosed $16 million in assets and $6 million in
liabilities when it filed for bankruptcy.

On Feb. 5, 2014, the U.S. Trustee appointed an official committee
of unsecured creditors.  The Committee retained Frost Brown Todd
LLC as counsel.

On March 18, 2014, the Bankruptcy Court approved the hiring of
Mark Welch at MorrisAnderson in Chicago as Freedom's chief
restructuring officer.

                            *     *     *

U.S. Bankruptcy Judge Ronald Pearson on May 13, 2015, entered an
order denying Freedom Industries Inc.'s bid to move forward with
its Plan of Liquidation dated April 30, 2015.

The judge sustained the objection of the West Virginia Department
of Environmental Protection ("WVDEP"), which strongly took issue
with the Plan's treatment of environmental remediation and argued
that the Plan did not provide for adequate funding in that regard.

The Plan is a result of negotiations with: (a) the Official
Committee of Unsecured Creditors which is comprised of trade
creditors, spill claim creditors and the West Virginia-American
Water Company ("WVAWC"), (b) counsel to certain class action
claimants, including those representing parties in what is referred
to in the Plan as the Bar 101 Case and the Good Case, (c) the
current equity owner of the Debtor and affiliated parties, (d) Gary
Southern and affiliated parties, (e) Dennis Farrell, William Tis
and Charles Herzing and their respective affiliated parties, who
collectively are the former owners and board members of Freedom.
However, absent from the list of parties coming to affirmative
agreement under the Plan was the WVDEP.


FULLER BRUSH: GCG, Inc., Terminated as Administrative Agent
-----------------------------------------------------------
The Hon. Sean H. Lane of the U.S. Bankruptcy Court for the Southern
District of New York entered an amended order terminating the
services of GCG, Inc., as administrative agent for The Fuller Brush
Company, Inc., et al.

GCG, Inc. has acted as the administrative agent by assuming full
responsibility for noticing, processing of claims, preparation and
maintenance of a claims register and providing custody of all
proofs of claim.

The Debtors, in consultation with the Clerk of Court, determined
that the requirement for an administrative agent no longer exists
in the Chapter 11 cases.

In this relation, GCG, Inc. will, among other things:

   -- prepare final claims registers for the Clerk's Office;

   -- box and transport all claims to the Federal Archives, at the
direction of the Clerk's Office; and

   -- the services to be rendered by GCG, Inc. will be a charge to
the estate.

                       About Fuller Brush

Great Bend, Kansas-based The Fuller Brush Company --
http://www.fuller.com/-- founded in 1906, sells branded and
private label products for personal care, commercial and household
cleaning.

The Company, and its parent, CPAC, Inc., filed for Chapter 11
protection (Bankr. S.D.N.Y. Case Nos. 12-10714 and 12-10715) on
Feb. 21, 2012.  Fuller Brush filed for bankruptcy five years after
the company was taken over by private equity firm Buckingham
Capital Partners.  Fuller disclosed $22.9 million in assets and
$50.9 million in debt.  

Herrick Feinstein LP represents the Debtors in their restructuring
effort.  

The Court in April 2015 confirmed Fuller Brush, and CPAC, Inc.'s
Modified Joint Chapter 11 Plan dated Feb. 19, 2013.

The Official Committee Of Unsecured Creditors has tapped the
law firm of Kelley Drye & Warren LLP as counsel.


GT ADVANCED: Equity Holders Want to Be Included in Plan Talks
-------------------------------------------------------------
The Ad Hoc Committee of Equity Interest Holders in the Chapter 11
cases of GT Advanced Technologies Inc., et al., objected to the
second motion for order extending exclusive periods to file a
chapter 11 plan and solicit acceptances for that plan.

On June 2, 2015, the Debtors filed the exclusivity motion, which is
set for hearing on July 16, 2015, at 10:00 a.m.

The Debtors' requested that the Court extend the exclusive periods
to file a plan until Sept. 30, 2015, and solicit acceptances for
that plan until Nov. 30, 2015.

According to the Committee, the Debtors have consistently refused
to include equity holders or their counsel in the purported ongoing
negotiations with creditors regarding the structure of a potential
plan.  Although there is substantial evidence that the Debtors are
solvent, there has been a consistent refusal to include all
parties.

Thus, the Court must direct the Debtors and their counsel to
include the Ad Hoc Committee in continuing plan negotiations.

The Ad Hoc Committee is represented by Bernkorpf Goodman LLP and
Polsinelli P.C.

                   About GT Advanced

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

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

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

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

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

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

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

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

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



HATTERAS MOTEL: Case Summary & 16 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Cape Hatteras Motel, Inc.
        P.O. Box 339
        Buxton, NC 27920

Case No.: 15-03804

Chapter 11 Petition Date: July 10, 2015

Court: United States Bankruptcy Court
       Eastern District of North Carolina

Judge: Hon. Stephani W. Humrickhouse

Debtor's Counsel: William H. Kroll, Esq.
                  STUBBS & PERDUE, P.A.
                  9208 Falls of Neuse Road, Suite 201
                  Raleigh, NC 27615
                  Tel: 919 870-6258
                  Fax: 919 870-6259
                  Email: efile@stubbsperdue.com

                     - and -

                  Trawick H Stubbs, Jr., Esq.
                  STUBBS & PERDUE, P.A.
                  P. O. Drawer 1654
                  New Bern, NC 28563
                  Tel: 252 633-2700
                  Fax: 252 633-9600
                  Email: efile@stubbsperdue.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Vernon D. Dawson, Jr., president.

A list of the Debtor's 16 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nceb15-03804.pdf


HERCULES OFFSHORE: BlackRock Reports 2.4% Stake as of June 30
-------------------------------------------------------------
BlackRock, Inc. disclosed in an amended Schedule 13G filed with the
Securities and Exchange Commission that as of June 30, 2015, it
beneficially owned 3,937,089 shares of common stock of Hercules
Offshore, Inc. which represents 2.4 percent of the shares
outstanding.  A copy of the regulatory filing is available at:

                         http://is.gd/PZYKz6

                       About Hercules Offshore

Hercules Offshore Inc. (NASDAQ: HERO) --
http://www.herculesoffshore.com/-- provides shallow-water         

drilling and marine services to the oil and natural gas
exploration and production industry in the United States, Gulf of
Mexico and internationally.  The Company provides these services
to integrated energy companies, independent oil and natural gas
operators and national oil companies.  The Company operates in six
business segments: Domestic Offshore, International Offshore,
Inland, Domestic Liftboats, International Liftboats and Delta
Towing.

Hercules Offshore reported a net loss of $216 million in 2014,
compared with a net loss of $68.1 million in 2013.

As of March 31, 2015, the Company had $1.93 billion in total
assets, $1.37 billion in total liabilities and $559 million in
stockholders' equity.

                           *     *     *

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

As reported by the TCR on June 22, 2015, Standard & Poor's Ratings
Services lowered its corporate credit rating on Houston-based
offshore driller Hercules Offshore Inc. to 'CC' from 'CCC+'.
The downgrade follows the Company's announcement that it has
entered into a restructuring support agreement with a steering
group of the company's senior noteholders, collectively owning or
controlling in excess of 67% of the aggregate outstanding principal
amount of the company's 10.25% senior notes due 2019, 8.75% senior
notes due 2021, 7.5% senior notes due 2021, and 6.75% senior notes
due 2022.


ID CONSULTING: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: ID Consulting Solutions LLC
        775 E. Riverside Drive, Suite 200
        Eagle, ID 83616

Case No.: 15-00918

Chapter 11 Petition Date: July 10, 2015

Court: United States Bankruptcy Court
       District of Idaho (Boise)

Judge: Hon. Terry L Myers

Debtor's Counsel: Blair D. Clark, Esq.
                  LAW OFFICES OF D. BLAIR CLARK PC
                  1513 Tyrell Lane, Suite 130
                  Boise, ID 83706
                  Tel: (208) 475-2050
                  Fax: (208) 475-2055
                  Email: dbc@dbclarklaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ronald Ivie, member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/idb15-00918.pdf


IES GLOBAL: Moody's Changes Outlook to Negative & Affirms B2 CFR
----------------------------------------------------------------
Moody's Investors Service changed the outlook for IES Global B.V.
to negative from stable.  Concurrently, Moody's affirmed IES' B2
Corporate Family Rating B2-PD Probability of Default Rating, and B2
rating on the $270 million first lien term loan.  The rating
outlook was changed to negative primarily because IES' Brazilian
operations are weighing down its consolidated results.

Moody's took these rating actions on IES Global B.V.:

Ratings Affirmed:

Corporate Family Rating, B2;
Probability of Default Rating, B2-PD;
$270 million first lien term loan, B2 (LGD-4).
The ratings outlook was changed to negative from stable.

RATINGS RATIONALE

The change in the rating outlook to negative from stable reflects
the deterioration in the profitability of IES' Brazilian
operations, as well as ongoing weakness in IES's cyclical end
markets including mining, agriculture, and energy.  IES' weakened
performance has resulted in elevated leverage and reduced the level
of cushion under its financial covenants.  Moreover, the company
has been performing below Moody's expectations and weakness in a
number of its core markets makes the timing and magnitude of a
rebound less certain.

The affirmation of the company's B2 CFR reflects the expectation
that the company's credit metrics will likely remain in line with
its B2 peers for 2015 with 2016 being more uncertain.  The rating
considers the company's small scale, high product concentration,
and elevated leverage weighed against adequate liquidity, an
international operating footprint, and long established
relationships with large heavy equipment manufacturers and dealers
across the globe.  Moody's also expects IES to continue to focus on
cost restructuring activities to mitigate a portion of the revenue
pressure.

IES' liquidity profile is characterized by Moody's as adequate,
because the company may find it difficult to remain compliant with
its net leverage covenant in 2015 due to covenant step downs and
the operating pressures.  Although at March 31, 2015, IES was in
compliance with its net leverage threshold of 4.5 times, Moody's
believes there is little room for further additional operating
weakness before the company has to seek a waiver or the sponsor
converts some of its second lien term loan to equity.  Moreover,
IES has the ability to address its covenant tightness, if
necessary, through a pre-negotiated mechanism.

The rating would come under pressure if IES' credit metrics
weakened so that debt-to-EBITDA leverage was anticipated to exceed
5.5 times and EBITDA to interest was to fall below 2.0 times.
Moreover, free cash flow to debt forecasted below 5%, on a
sustained basis or a deterioration of liquidity would also create
ratings pressure.

A ratings upgrade is unlikely in the next few years given the
company's small size, limited product diversification, and exposure
to cyclical risk.  A ratings upgrade could occur if debt-to-EBITDA
leverage was expected to fall below 4.0 times and to improve
thereafter.

The principal methodology used in these ratings was Global
Manufacturing Companies published in July 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.

IES Global B.V., located in Oak Brook, IL is a manufacturer of
attachments and cab enclosures for heavy machinery.  The company
was created in 2011 with the combination of Paladin Brands (incl.
Paladin Attachments, Genesis, Pengo, Jewell) and Crenlo, while Siac
do Brasil and CWS were acquired in 2012 and Kodiak Mfg was acquired
in 2015.  Total revenues generated over the last twelve months
ended March 31, 2015 totaled $590 million.  IES is owned by KPS
Capital Partners, L.P., a manager of a family of private equity
funds.



INTELLIPHARMACEUTICS INT'L: Status of Focalin Tentative Approvals
-----------------------------------------------------------------
Intellipharmaceutics International Inc. advised that the United
States Food and Drug Administration has indicated to the Company
that it has rescinded its previous requirement that the Company
meet newly-imposed conditions for bioequivalence prior to receiving
final approval for the Company's tentatively-approved strengths of
its generic Focalin XR (dexmethylphenidate hydrochloride
extended-release) capsules (the “Product”).  The strengths
affected include 5 mg, 10 mg, 20 mg and 40 mg.  The
already-approved 15 mg and 30 mg strengths now in the market are
not affected.

The FDA, in November 2013, had previously granted the Company
tentative approvals for the 5 mg, 10 mg, 20 mg, and 40 mg strengths
of its generic Focalin XR.  Subsequently, the Company announced in
a press release dated June 18, 2015, that the FDA had indicated
that the Company would be required to meet newly-imposed guidelines
before the affected strengths of the Product could receive final
approval.  The FDA has now rescinded that requirement.

The Company is not aware of any further action required of it in
respect of its Abbreviated New Drug Application for the Product.
The Company is therefore hopeful that the FDA will shortly grant
final approval for the 5 mg strength of the Product which is not
subject to the six months of market exclusivity accorded to the
first-filer of an ANDA.  There can be no assurance that such final
approval will be granted within a short time, or at all, or that
further conditions will not be imposed for that strength or any of
the other tentatively approved strengths.

                      About Intellipharmaceutics

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

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

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

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


ITUS CORP: Announces Uplisting to NASDAQ
----------------------------------------
ITUS Corporation announced that The NASDAQ Stock Market LLC has
approved the listing of the Company's stock for trading on The
NASDAQ Capital Market.  Trading of the Company's securities on The
NASDAQ Capital Market will commence effective with the opening of
business on Friday, July 10, 2015.

Robert Berman, ITUS's president and CEO, stated, "NASDAQ is the
market where shares of the world's most innovative and successful,
high-tech companies are traded.  With the potentially life saving
technologies we are developing at Anixa, our cancer diagnostic
subsidiary, and plans for other high-tech initiatives, NASDAQ is
exactly where we want to be, and where ITUS belongs."

Shares of the Company's common stock will trade on NASDAQ under the
stock symbol "ITUS".

                       About ITUS Corporation

ITUS Corp. -- http://www.ITUScorp.com/-- develops and acquires
patented technologies for the purposes of patent monetization and
patent assertion.  The company currently has 10 patent portfolios
in the areas of Key Based Web Conferencing Encryption, Encrypted
Cellular Communications, E-Paper(R) Electrophoretic Display, Nano
Field Emission Display ("nFED"), Micro Electro Mechanical Systems
Display ("MEMS"), Loyalty Conversion Systems, J-Channel Window
Frame Construction, VPN Multicast Communications, Internet
Telephonic Gateway, and Enhanced Auction Technologies.

CopyTele changed its name to "ITUS Corporation" on Sept. 2, 2014,
to reflect the Company's change in its business operations.

ITUS Corporation reported a net loss of $9.60 million on $3.66
million of total revenue for the year ended Oct. 31, 2014, compared
to a net loss of $10.08 million on $389,000 of total revenue for
the year ended Oct. 31, 2013.  The Company also reported a net loss
of $4.25 million for the year ended Oct. 31, 2012, and a net loss
of $7.37 million for the year ended Oct. 31, 2011.

As of April 30, 2015, the Company had $11.1 million in total
assets, $4.14 million in total liabilities and $6.99 million in
total shareholders' equity.


JOE'S JEANS: Posts $3.3 Million Net Loss for Second Quarter
-----------------------------------------------------------
Joe's Jeans Inc. filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss and
comprehensive loss of $3.3 million on $47.2 million of net sales
for the three months ended May 31, 2015, compared to net income and
comprehensive income of $2.3 million on $48.1 million of net sales
for the same period in 2014.

For the six months ended May 31, 2015, the Company reported a net
loss and comprehensive loss of $24.9 million on $90.2 million of
net sales compared to net income and comprehensive income of
$161,000 on $95.5 million of net sales for the same period during
the prior year.

As of May 31, 2015, the Company had $173.4 million in total assets,
$156.7 million in total liabilities and $16.7 million in total
stockholders' equity.

A copy of the Form 10-Q is available at http://is.gd/yGYJG7

                        About Joe's Jeans

Joe's Jeans Inc. -- http://www.joesjeans.com/-- designs, produces  

and sells apparel and apparel-related products to the retail and
premium markets under the Joe's(R) brand and related trademarks.

In its audit report on the consolidated financial statements for
the year ended Nov. 30, 2014, Moss Adams LLP expressed substantial
doubt about the Company's ability to continue as a going concern,
citing that the Company has a net working capital deficiency due
to debt covenant violations and has suffered recurring losses from
operations.

The Company reported a net loss of $27.7 million on $189 million
of net sales for the fiscal year ended Nov. 30, 2014, compared with
a net loss of $7.31 million on $140 million of net sales in 2013.

The Troubled Company Reporter, on June 9, 2015, reported that Joe's
Jeans on June 4 disclosed that the Company received a letter on May
29, 2015, from The Nasdaq Stock Market indicating that the Company
had received an additional 180 days, or until November 23, 2015, to
regain compliance with Nasdaq Listing Rule 5550(a)(2) by
maintaining a closing bid price per share of its common stock at
$1.00 per share or more for a minimum of 10 consecutive trading
days.


KEMET CORP: BlackRock Reports 3.3% Stake as of June 30
------------------------------------------------------
BlackRock, Inc. disclosed in an amended Schedule 13G filed with the
Securities and Exchange Commission that as of June 30, 2015, it
beneficially owned 1,495,503 shares of common stock of KEMET Corp
which represents 3.3 percent of the shares outstanding.  A copy of
the regulatory filing is available at http://is.gd/yoQ9b5

                            About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

As of March 31, 2015, the Company had $753 million in total assets,
$588 million in total liabilities, and $165 million in total
stockholders' equity.

                           *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to 'Caa1'
from 'B2' and the Probability of Default Rating to 'Caa1-PD' from
'B2- PD' based on Moody's expectation that KEMET's liquidity will
be pressured by maturing liabilities and negative free cash flow
due to the interest burden and continued operating losses at the
Film and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on KEMET to 'B-' from
'B+'.  "The downgrade is based on continued top-line and margin
pressures and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.

The TCR reported in August 2014 that S&P revised its outlook on
KEMET to 'stable' from 'negative'.  S&P affirmed the ratings,
including the 'B-' corporate credit rating.


KEMET CORP: Names New Global Sales & Marketing SVP
--------------------------------------------------
KEMET Corporation announced that Claudio Lollini is appointed
senior vice president of Global Sales and Marketing, reporting to
Per Loof, chief executive officer.  He will be based in KEMET's
Fort Lauderdale, Florida, office.

Mr. Lollini joined Arcotronics Italia S.p.A. in 2005 as a sales
manager in Taiwan and became part of KEMET during its acquisition
of Arcotronics in 2007.  Since that time, he has been an integral
part of the KEMET Asia Team and has held positions of increasing
responsibility in Sales and Product Management.  His most recent
position was vice president of sales for Asia Pacific.  Mr. Lollini
graduated with a degree in Engineering Management from the
University of Bologna.

Emilio Ghilardi will not join KEMET as previously announced.

                            About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

As of March 31, 2015, the Company had $753 million in total assets,
$588 million in total liabilities, and $165 million in total
stockholders' equity.

                           *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to 'Caa1'
from 'B2' and the Probability of Default Rating to 'Caa1-PD' from
'B2- PD' based on Moody's expectation that KEMET's liquidity will
be pressured by maturing liabilities and negative free cash flow
due to the interest burden and continued operating losses at the
Film and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on KEMET to 'B-' from
'B+'.  "The downgrade is based on continued top-line and margin
pressures and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.

The TCR reported in August 2014 that S&P revised its outlook on
KEMET to 'stable' from 'negative'.  S&P affirmed the ratings,
including the 'B-' corporate credit rating.


KENAN ADVANTAGE: S&P Affirms 'B+' CCR & Revises Outlook to Stable
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it has affirmed its
'B+' corporate credit rating on North Canton, Ohio-based
transportation and logistics services provider Kenan Advantage
Group Inc. (Kenan) and revised the outlook on the rating to stable
from negative.

At the same time, S&P assigned its 'BB' issue-level rating and '1'
recovery rating to Kenan's proposed senior secured credit
facilities.  The senior secured credit facilities consist of a
revolver (composed of a $110 million tranche and C$15 million
tranche), a $750 million term loan B, and a $150 million
delayed-draw term loan.  The '1' recovery rating indicates S&P's
expectation for very high recovery (90%-100%) in the event of a
default.

Additionally, S&P assigned its 'B-' issue-level rating and '6'
recovery rating to Kenan's $405 million senior unsecured note
issuance.  The '6' recovery rating indicates S&P's expectation for
negligible recovery (0-10%) in the event of a default.

"The outlook revision reflects our expectation that Kenan Advantage
will maintain its debt-to-EBITDA metric below 6x for a sustained
period," said Standard & Poor's credit analyst Michael Durand.
Over the next year, S&P continues to expect that stable demand for
petroleum products and bolt-on accretive acquisitions will improve
Kenan Advantage's credit metrics.  Pro forma for the transaction,
the company's funds from operations (FFO)-to-total debt ratio is
modestly above 10% and its debt-to-EBITDA metric is in the high-5x
area.

The stable outlook on Kenan Advantage reflects that S&P expects the
company to continue making acquisitions that could increase its
debt levels, but that the firm's gradually increasing internal cash
flows will enable it to maintain a FFO-to-debt ratio in the
low-teens percent area.

S&P could lower its ratings on the company if it overpays for an
acquisition or its earnings deteriorate, causing its debt-to-EBITDA
metric to climb meaningfully above 6x, or if its liquidity
deteriorates such that S&P revises its assessment to "less than
adequate".

An upgrade is unlikely given the company's acquisitive growth
strategy and financial sponsor ownership.



KNOWLEDGE UNIVERSE: S&P Puts 'B' CCR on CreditWatch Negative
------------------------------------------------------------
Standard & Poor's Ratings Services said that it placed its ratings,
including its 'B' corporate credit rating, on Knowledge Universe
Education LLC on CreditWatch with negative implications.

"The CreditWatch placement follows the announcement that Partners
Group will be acquiring Knowledge Universe in a partially
debt-financed transaction," said Standard & Poor's credit analyst
Scott Zari.  "We believe that the transaction will likely increase
the level of debt in the company's capital structure."  S&P views
the company's financial risk profile as "highly leveraged,"
reflecting its high lease-adjusted debt to EBITDA of nearly 6x as
of
March 31, 2015, its moderate capital expenditure requirements, and
high lease-termination and center tenancy costs.

S&P aims to resolve the CreditWatch placement as soon as the
details of the transaction and financing are disclosed.  S& could
lower the rating if the company's debt leverage level increases
substantially due to the leveraged buyout.  S&P will evaluate any
business strategy or operational changes, but it is unlikely that
S&P will revise its view of the company's business risk profile as
a result of the acquisition.

On the other hand, S&P could revise the outlook to stable if the
transaction closes with a capital structure that it views as
appropriate, given the current rating level.



LAKESIDE PROFESSIONAL: Case Summary & 2 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Lakeside Professional Center, LLC
        3735 Lakeside Drive
        Reno, NV 89509

Case No.: 15-50951

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: July 10, 2015

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Judge: Hon. Bruce T. Beesley

Debtor's Counsel: Stephen R Harris, Esq.
                  HARRIS LAW PRACTICE LLC
                  6151 Lakeside Dr, Ste 2100
                  Reno, NV 89511
                  Tel: (775) 786-7600
                  Fax: (775) 786-7764
                  Email: steve@harrislawreno.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Donald A. Chang, member manager.

A list of the Debtor's two largest unsecured creditors is available
for free at http://bankrupt.com/misc/nvb15-50951.pdf


LEE STEEL: Key Employee Incentive Plan for Non-Insiders Approved
----------------------------------------------------------------
The Hon. Marci B. McIvor of the U.S. Bankruptcy Court for the
Eastern District of Michigan authorized Lee Steel Corporation, et
al., to (i) implement a key employee incentive plan for certain
non-insiders; and (ii) pay any obligations arising thereunder as
administrative expenses.

According to the Debtors, the KEIP is simple and straightforward in
its structure and is intended to provide the participants with
additional compensation for their efforts in assisting in Debtors'
sales efforts by providing incentive payments to the participants
who continue to diligently perform their duties and assist in the
maintaining Debtor Lee Steel Corporation's sales during the sale or
wind-down efforts of the Debtors such that the Debtors maintain
adjusted sales of 85% or greater than sales from the prior year.

The KEIP is structured such that and eligible participant would
eligible to receive bonus payments as:

   a) a payment equal to $5,000 if adjusted sales procured by the
participant during the period from the date of the incentive bonus
agreement until July 15, 2015 (the initial incentive period) are
equal to or greater than 85% of sales from the same period during
the 2014 calendar year (the initial incentive bonus).  If adjusted
sales procured by the participant during the initial incentive
period are equal to or greater than 120% of sales from the same
period during the 2014 calendar year, participant would receive an
amount equal to the initial incentive bonus plus an additional
premium of $2,500.

   b) a $5,000 payment if adjusted sales procured by participant
during the period from the July 15, 2015 until Aug. 28, 2015 (the
final incentive period) are equal to or greater than 85% of
adjusted sales from the same period during the 2014 calendar year
(the final incentive bonus).  If adjusted sales procured by the
participant during the final incentive period are equal to or
greater than 120% of sales from the same period during the 2014
calendar year, participant will receive an amount equal to the
final incentive bonus plus an additional premium of $2,500.

Jayson B. Ruff, Esq., at McDonald Hopkins PLC filed a certificate
of no response to corrected motion for order authorizing the
Debtors to implement KEIP.

                          About Lee Steel

Novi, Michigan-based Lee Steel Corp., provides flat rolled steel,
including hot rolled steel, cold rolled steel, and exposed coated
products for automotive and other manufacturing industries.

Lee Steel and 2 affiliated companies -- Taylor Industrial
Properties, L.L.C., and 4L Ventures, LLC -- filed for separate
bankruptcy protection (Bankr. D. Del. Case No. 15-45784) on
April 13, 2015.  

The Hon. Marci B. McIvor presides over the cases.  Joshua A.
Gadharf, Esq., at McDonald Hopkins PLC, represents the Debtor.
Huron Business Advisory, serves as financial advisor; and Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Lee Steel disclosed $63,206,282 in total assets and $62,659,806 in
total liabilities.

The U.S. Trustee for Region 9 appointed three creditors to serve on
the official committee of unsecured creditors.  Conway
Mackenzie, Inc., serves as its financial advisor.



LEGACY RESERVES: S&P Affirms 'B+' CCR, Outlook Negative
-------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B+' corporate
credit rating on Midland, Texas-based oil and gas exploration and
production MLP Legacy Reserves L.P.  S&P also affirmed the 'B'
issue-level rating and '5' recovery rating on the company's senior
unsecured notes.  The '5' recovery rating indicates S&P's
expectation of modest (10% to 30%, lower end of the range) recovery
in the event of a default.  The outlook is negative.

"The negative outlook reflects our view that leverage could exceed
levels we view as appropriate for the rating over the next two
years," said Standard & Poor's credit analyst Carin Dehne-Kiley.
"We expect FFO to debt to remain close to 12% and debt to EBITDA to
exceed 6x in 2016," she added.

Legacy Reserves L.P. announced that it has agreed to acquire
natural gas properties and midstream assets in East Texas from
Anadarko Petroleum and Western Gas Partners L.P. for $440 million.
The assets include 420 billion cubic feet (bcfe) of proved reserves
(100% natural gas, 95% proved developed), 70 million cubic feet
equivalent (mmcfe) of daily production, 567 miles of pipeline and
gathering lines, and a 502 mmcfe/d processing plant. East Texas is
a new operating area for Legacy, but the properties are a good fit
for an MLP given the high percentage of proved developed reserves
and long reserve life (16 years).  The company has put in place
hedges for 2016-2019 covering nearly 83% of the expected acquired
production.  The gathering and processing business is also a new
operating segment for the company, but it is also one that fits
well within an MLP structure.  Legacy will fund the acquisition by
drawing down on its borrowing base, which currently stands at $700
million (with $112 million outstanding). The company expects its
borrowing base to increase to $975 million pro-forma for the
transaction.  

At the same time, Legacy announced it has entered into a joint
venture agreement with TPG Special Situations Partners (TSSP) to
fund horizontal development of a portion of Legacy's acreage in the
Permian Basin.

S&P could lower the rating if it believed FFO to debt would remain
below 12% on a sustained basis.  S&P believes this would most
likely occur if the company assumed a more aggressive capital
spending program, entered into additional debt-funded acquisitions,
or if its production were weaker than S&P's current projections.

S&P could revise the outlook to stable if the company can maintain
FFO to debt above 12% on a sustained basis, while maintaining
adequate liquidity.



LIGHTSTREAM RESOURCES: S&P Raises Corporate Credit Rating to 'B-'
-----------------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term corporate
credit rating on Calgary, Alta.-based oil and gas exploration and
production company Lightstream Resources Ltd to 'B-' from 'SD'
(selective default).

The issue-level rating on the company's unsecured notes remains 'D'
while the recovery rating remains at '6', indicating negligible
(0%-10%) recovery in a default scenario.

Lightstream has completed its debt for debt exchange, issuing
9.875% US$395 million second-lien notes due 2019 in exchange for
8.625% US$465 million unsecured notes due 2020.  The company,
however, may issue an additional US$54.75 million second lien notes
in exchange for unsecured notes.  S&P would raise the issue-level
rating when it believes there will be no further additional
debt-for-debt exchange.

"The upgrade follows our assessment of Lightstream's debt-for-debt
transaction, which we view as a distressed exchange, as almost
complete," said Standard & Poor's credit analyst Aniki
Saha-Yannopoulos.  Following completion of the proposed US$200
million additional second-lien notes, the company's liquidity will
improve to C$350 million-C$375 million under its C$750 million
credit facility.  Although the transaction has reduced
Lightstream's balance sheet debt by about C$90 million, S&P
forecasts the company's financial leverage to remain high at 5%-10%
funds from operations (FFO)-to-debt through 2016, and unlikely to
improve unless oil prices rise.

The stable outlook reflects Standard & Poor's expectation that
Lightstream's credit metrics will remain high but the company will
continue to maintain adequate liquidity, as defined in S&P's
liquidity criteria, as well as achieve the production and cash flow
generation targets incorporated in its base-case scenario.

S&P could consider a negative rating action if Lightstream's
operational performance deteriorates such that production and
revenue declines would result in unsustainable leverage, or if
liquidity deteriorated such that EBITDA to interest reduces below
1.5x, which could also stem from potential operational issues.  S&P
might also consider a negative action should the company sell its
Bakken assets without any associated improvement in its financial
risk profile following the asset sale.

S&P could consider a positive rating action, although it views the
possibility as unlikely during its outlook period, if Lightstream
was to continue increasing production and cash flow such that FFO
to debt stayed above 20% under current industry conditions, while
maintaining adequate liquidity, as defined in S&P's criteria.  An
improvement in credit measures just due to commodity price
improvements would not be sufficient to warrant a positive rating
action.



MCCLATCHY CO: BlackRock Holds 2.8% of Class A Shares as of June 30
------------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, BlackRock, Inc. disclosed that as of June 30, 2015, it
beneficially owned 1,730,017 shares of Class A Common Stock of
The McClatchy Company which represents 2.8 per cent of the shares
outstanding.  A copy of the regulatory filing is available at:

                         http://is.gd/m9bGVn

                     About The McClatchy Company

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

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

As of March 29, 2015, the Company had $2.35 billion in total
assets, $1.85 billion in total liabilities, and $496 million in
stockholders' equity.

                           *     *     *

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

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


MCD SPORTS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: MCD Sports, LLC
          dba Parkway Lanes
        200 Route 46 East
        Elmwood Park, NJ 07407

Case No.: 15-22986

Chapter 11 Petition Date: July 10, 2015

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Hon. Rosemary Gambardella

Debtor's Counsel: Michael J. Connolly, Esq.
                  FORMAN HOLT ELIADES & YOUNGMAN LLC
                  80 Route 4 East
                  Paramus, NJ 07652
                  Tel: (201) 845-1000
                  Fax: (201) 845-9112
                  Email: mconnolly@formanlaw.com

Total Assets: $1.6 million

Total Liabilities: $540,827

The petition was signed by Cecile Cassirer, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/njb15-22986.pdf


MEDIAOCEAN LLC: S&P Assigns Preliminary 'B' CCR, Outlook Stable
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its
preliminary 'B' corporate credit rating to New York City-based
Mediaocean LLC.  The rating outlook is stable.

At the same time, S&P assigned its preliminary 'B' issue-level
rating and preliminary '3' recovery rating to the company's
proposed $20 million revolving credit facility due 2020 and $225
million first-lien term loan due 2022.  The preliminary '3'
recovery rating indicates S&P's expectation for meaningful recovery
(50%-70%; upper half of the range) of principal in the event of a
payment default.

S&P also assigned its preliminary 'CCC+' issue-level rating and
preliminary '6' recovery rating to the company's proposed $90
million second-lien term loan due 2023.  The preliminary '6'
recovery rating indicates S&P's expectation for negligible recovery
(0%-10%) of principal in the event of payment default.

"The preliminary 'B' corporate credit rating on Mediaocean reflects
the company's small revenue base and very high pro forma high debt
leverage," said Standard & Poor's credit analyst Heidi Zhang.
Excluding projected cost savings, pro forma adjusted debt leverage
was greater than 10x (or in the mid-7x area including projected
cost savings) as of March 31, 2015.  This is minimally offset by
Mediaocean's long-term relationship with its major ad agency
holding companies, S&P's expectation for moderate positive
discretionary cash flow in 2016, and the company's "adequate"
liquidity.

"The stable rating outlook on Mediaocean reflects our expectation
that the company will maintain 'adequate' liquidity over the next
12 months, with adjusted leverage declining to the mid-7x area over
the next two years, driven by cost-saving initiatives," said Ms.
Zhang.

S&P could lower the rating if Mediaocean's leverage does not
decline as S&P expects due to lower-than-expected cost savings,
debt-financed acquisitions, pricing pressure from new competitors,
or loss of key customers.  Additionally, S&P could lower the rating
if underperformance causes the company's discretionary cash flow to
narrow to $10 million or less, which S&P believes could begin to
pressure liquidity.

Although unlikely, S&P could raise the rating if the company
reduces leverage to below 5x on a sustained basis and commits to a
less aggressive financial policy.



MISSISSIPPI PHOSPHATES: Delays Auction to July 31
-------------------------------------------------
Mississippi Phosphates Corporation, et al., filed with the U.S.
Bankruptcy Court for the Southern District of Mississippi revised
bidding and sale procedures that further delay the proposed auction
of their assets to July 31, 2015.

The Debtors originally contemplated an auction in April but have
revised the sale timeline several times.  The Debtors now propose
this time-line as part of their efforts to ensure that "the highest
or otherwise best offer is received" for the assets:

   * Entry of the amended sales and bidding procedures order no
later than Friday, July 24, 2015, at 5:00 p.m. (prevailing Central
Time);

   * Submission deadline for bids will be Friday, July 24, 2015, at
5:00 p.m. (prevailing Central Time);

   * The Debtors will determine which competing bids are qualified
bids on or before Tuesday, July 28, 2015, at 12:00 p.m. noon
(prevailing Central Time);

   * The Debtors will provide to each qualified bidder notice of
the terms of the highest or otherwise best qualified bid or
qualified bids received not later than Tuesday, July 28, 2015, at
5:00 p.m. (prevailing Central Time);

   * In the event that there is more than one qualified bidder, the
Debtors will conduct the auction on Friday, July 31, 2015,
beginning at 9:30 a.m. (prevailing Central Time);

   * The final hearing to approve the sale of the assets to the
prevailing purchaser is scheduled to take place on Thursday, Aug.
6, 2015, beginning at 9:30 a.m. (prevailing Central Time); and

    * The Sale of the assets is to be closed and consummated on or
before Tuesday, Sept. 1, 2015, provided that the parties may, by
mutual agreement, extend the closing deadline subject to any
required approval by the Bankruptcy Court.

A copy of the revised bidding procedures motion filed June 22, 2015
is available for free at:

     http://bankrupt.com/misc/MP_Sale_Motion_Jun_2015.pdf

The Debtors' attorneys can be reached at:

         BUTLER SNOW LLP
         1020 Highland Colony Parkway, Suite 1400
         Ridgeland, MS 39157
         Attn: Stephen W. Rosenblatt
               Christopher R. Maddux
         E-mail: steve.rosenblatt@butlersnow.com
                 chris.maddux@butlersnow.com

The Debtors' investment banker can be reached at:

         SANDLER O'NEILL + PARTNERS, L.P.
         1251 Avenue of the Americas, 6th Floor
         New York, NY 10020
         Attn: Sunny Cheung
               Timur Hubey
               scheung@sandleroneill.com
               thubey@sandleroneill.com

                   About Mississippi Phosphates

Mississippi Phosphates Corporation is a major United States
producer and marketer of diammonium phosphate ("DAP"), one of the
most common types of phosphate fertilizer.  MPC, which was formed
is a Delaware corporation in October 1990, owns a DAP facility in
Pascagoula, Mississippi, which was acquired from Nu-South, Inc. in
its 1990 bankruptcy.  Phosphate rock, the primary raw material
used
in the production of DAP, is being supplied by OCP S.A., a
corporation owned by the Kingdom of Morocco.

The parent, Phosphate Holdings, Inc., was formed in December 2004
in connection with the bankruptcy reorganization of MPC and its
then-parent Mississippi Chemical Corporation, the first fertilizer
cooperative in the United States.

As of Oct. 27, 2014, MPC had a work force of 250 employees, broken
into 224 regular employees and 26 "nested" third-party contract
employees.

MPC and its subsidiaries, namely Ammonia Tank Subsidiary, Inc., and
Sulfuric Acid Tanks Subsidiary, Inc., sought Chapter 11 bankruptcy
protection (Bankr. S.D. Miss. Lead Case No. 14-51667) on Oct. 27,
2014.  Judge Katharine M. Samson is assigned to the cases.

Mississippi Phosphates disclosed $98.8 million in assets and $141
million plus an unknown amount in liabilities.  Affiliates Ammonia
Tank and Sulfuric Acid Tanks each estimated $1 million to $10
million in both assets and liabilities.

Jonathan J. Nash serves as the CRO and Robert P. Kerley the CFO of
the Debtors.

The Debtors have tapped Butler Snow LLP as counsel and Sandler
O'Neill + Partners, L.P., as investment banker.  The official
committee of unsecured creditors tapped Burr & Forman LLP as its
counsel and Capstone/BRG as financial advisor.  The lender parties
tapped Haynes and Boone, LLP, and Byrd & Wiser, as attorneys.


MISSISSIPPI PHOSPHATES: Govt. & Committee Balk at July Budget
-------------------------------------------------------------
Mississippi Phosphates Corporation, et al., filed with the U.S.
Bankruptcy Court for the Southern District of Mississippi a motion
seeking approval of a fourth amended budget for the proposed
financing and use of cash collateral through July 31, 2015.

The interim order authorizing the use of cash collateral and access
to financing has been renewed and extended on several occasions.
The Court on June 15, 2015, entered a Third DIP Extension Order,
which extended access to cash and borrowings until July 31, 2015.

The Debtors have served notices of additional borrowings pursuant
to the Interim DIP Order, the latest of which (the fifth) increased
the aggregate amount of borrowings to $3.3 million:

                      Additional     Aggregate Amount
     Date of Notice   Borrowings      of Borrowings
     --------------   ----------     -------------
     June 5, 2015       $500,000       $1,500,000
     June 12, 2015      $800,000       $2,300,000
     June 29, 2015    $1,000,000       $3,300,000

The Lenders have agreed to the Fourth Amended Proposed Budget, but
the statutory committee of unsecured creditors and the State of
Mississippi have not agreed.

The Official Committee of Unsecured Creditors points out that the
proposed budget, which would expire Aug. 2, 2015, has allotted only
an additional $120,000 for Committee professional expenses, which
brings the total to only $600,000.  The Committee says the amount
is insufficient as through May 31, 2015, its counsel has already
incurred $560,913 in fees and its financial advisor has incurred
$202,000 in fees and expenses.  The Committee avers that the
Debtors should not be permitted to take advantage of chapter 11
protections by paying other fees and expenses, including the fees
and expenses of their own professionals, over and against paying
the fees and expenses incurred by the Committee.

The Mississippi Department of Environmental Quality ("MDEQ"), on
behalf of the Mississippi Commission on Environmental Quality, has
no objection to the amount of financing provided by the Lenders but
raises objections with respect to the proposed allocation of
available funds.

MPC proposed, and MDEQ accepted, quarterly payments in the amount
of $199,000 each quarter, to a trust fund established to assure the
proper closure and post-closure of the East Stack located at MPC's
facility.  The trust fund value currently stands at approximately
$11,100,000.  MPC's current estimate for the costs associated with
closure and post-closure at the facility is approximately
$80,000,000, and the actual costs could potentially exceed this
amount.  MPC failed to make the required quarterly payments due on
March 31, 2015, and June 30, 2015.  MDEQ says certain of the
additional funds should be used to pay the overdue quarterly
payments.

A copy of the Fourth Amended Proposed Budget filed together with
the motion is available for free at:

       http://bankrupt.com/misc/MP_4th_Am_Budget_M.pdf

Attorneys for the Committee can be reached at:

         Bess M. Parrish Creswell, Esq.
         Kasee Sparks Heisterhagen, Esq.
         BURR & FORMAN, LLP
         RSA Tower
         11 North Water Street, Suite 22200
         Mobile, AL 36602
         Telephone: (251) 344-5151
         Facsimile: (251) 344-9696
         E-mail: bcreswell@burr.com
                 ksparks@burr.com

              - and -

         Derek M. Meek, Esq.
         Marc P. Solomon, Esq.
         BURR & FORMAN, LLP
         420 North 20th Street
         Birmingham, AL 35203
         Telephone: (205) 251-3000
         Facsimile: (205) 458-5100
         E-mail: dmeek@burr.com
                 msolomon@burr.com

Counsel for the MDEQ can be reached at:

         MISSISSIPPI DEPARTMENT OF ENVIRONMENTAL QUALITY
         Post Office Box 2261
         Jackson, MS 39225-2261
         Attn: Roy H. Furrh
               Theodore D. Lampton
         E-mail: roy_furrh@deq.state.ms.us
                 ted_lampton@deq.state.ms.us

                   About Mississippi Phosphates

Mississippi Phosphates Corporation is a major United States
producer and marketer of diammonium phosphate ("DAP"), one of the
most common types of phosphate fertilizer.  MPC, which was formed
is a Delaware corporation in October 1990, owns a DAP facility in
Pascagoula, Mississippi, which was acquired from Nu-South, Inc. in
its 1990 bankruptcy.  Phosphate rock, the primary raw material
used
in the production of DAP, is being supplied by OCP S.A., a
corporation owned by the Kingdom of Morocco.

The parent, Phosphate Holdings, Inc., was formed in December 2004
in connection with the bankruptcy reorganization of MPC and its
then-parent Mississippi Chemical Corporation, the first fertilizer
cooperative in the United States.

As of Oct. 27, 2014, MPC had a work force of 250 employees, broken
into 224 regular employees and 26 "nested" third-party contract
employees.

MPC and its subsidiaries, namely Ammonia Tank Subsidiary, Inc., and
Sulfuric Acid Tanks Subsidiary, Inc., sought Chapter 11 bankruptcy
protection (Bankr. S.D. Miss. Lead Case No. 14-51667) on Oct. 27,
2014.  Judge Katharine M. Samson is assigned to the cases.

Mississippi Phosphates disclosed $98.8 million in assets and $141
million plus an unknown amount in liabilities.  Affiliates Ammonia
Tank and Sulfuric Acid Tanks each estimated $1 million to $10
million in both assets and liabilities.

Jonathan J. Nash -- jonnash@deloitte.com -- is the CRO and Robert
P. Kerley --r.kerley@missphosphates.com -- is the CFO of the
Debtors.

The Debtors have tapped Butler Snow LLP as counsel and Sandler
O'Neill + Partners, L.P., as investment banker.  The official
committee of unsecured creditors tapped Burr & Forman LLP as its
counsel and Capstone/BRG as financial advisor.  The lender parties
tapped Haynes and Boone, LLP, and Byrd & Wiser, as attorneys.


NATIONAL MEDICAL: Tortious Interference Claim v. DVI Dismissed
--------------------------------------------------------------
District Judge Cynthia M. Rufe dismissed the plaintiffs' tortious
interference claim in the case captioned SARA ROSENBERG, et al.,
Plaintiffs, v. DVI RECEIVABLES, XIV, LLC, et al., Defendants, CIVIL
ACTION NO. 14-5608 (E.D. Pa.).

The plaintiffs filed a tortious interference claim against the
defendants, alleging that they suffered monetary losses as a result
of the filing by the defendants of the involuntary bankruptcy
petitions in bad faith against Maury Rosenberg and his businesses,
National Medical Imaging, LLC ("NMI") and National Medical Imaging
Holding Company, LLC ("NMI Holding"). When the involuntary
bankruptcy petitions were filed on November 7, 2008, the plaintiffs
had close business and personal relationships with Rosenberg and
NMI.

In dismissing the claim, Judge Rufe held that plaintiffs' tortious
interference claim is preempted by 11 U.S.C. Section 303(i) which
provides a remedy against bad faith filing of involuntary
bankruptcy petitions only to the debtors themselves, but not to
third parties.

A copy of the June 4, 2015 memorandum opinion is available at
http://is.gd/SMTRgrfrom Leagle.com.

SARA ROSENBERG, Plaintiff, represented by DAMIEN HUNTER PROSSER,
BAKER & HOSTETLER, SCOTTIE N. MCPHERSON, TUCKER H. BYRD, TUCKER H.
BYRD & ASSOCIATES, P.A., JEFFREY A. KRAWITZ --
jkrawitz@stark-stark.com -- STARK & STARK & JOHN F. CORDISCO --
jcordisco@cordiscolaw.com -- STARK & STARK PC.

DOUGLAS ROSENBERG 2004 TRUST, 209 CHESTNUT ST. ASSOC., LP, 1501
EDGEMONT ASSOCIATES, LP, 1538 DEKALB ASSOCIATES, LP, 1561 MEDICAL
DRIVE ASSOCIATES, LP, IMAGING PROPERTIES OF ILLINOIS, LP, IMAGING
PROPERTIES OF PHILADELPHIA, LP, IMAGING PROPERTIES OF ROXBOROUGH,
LP, LANE LIMITED PARTNERSHIP IV, LP, 1561 MEDICAL DRIVE ASSOCIATES,
LP, Plaintiff, represented by SCOTTIE N. MCPHERSON, TUCKER H. BYRD,
TUCKER H. BYRD & ASSOCIATES, P.A., JEFFREY A. KRAWITZ, STARK &
STARK & JOHN F. CORDISCO, STARK & STARK PC.

DVI RECEIVABLES, XVII, LLC, DVI FUNDING, LLC, JANE FOX, LYON
FINANCIAL SERVICES, INC., U.S. BANK, N.A., Defendant, represented
by PETER H. LEVITT -- plevitt@shutts.com -- SHUTTS & BOWEN, CRAIG
A. HIRNEISEN -- cah@stevenslee.com -- STEVENS & LEE & STACEY A.
SCRIVANI -- sasc@stevenslee.com -- STEVENS & LEE.

DVI Receivables Trusts and other alleged creditors filed
involuntary chapter 11 petitions (Bankr. E.D. Pa. Case Nos. 05-
12714 and 05-12719) against Philadelphia, Pa.-based National
Medical Imaging, L.L.C., and National Medical Imaging Holding
Company, L.L.C., on March 3, 2005.  The Creditors amended the
involuntary petitions three times: on Nov. 10, 2008; April 10,
2009; and on Aug. 26, 2009, following a contested hearing.


NATURAL MOLECULAR: Dawson Okayed to File Amendments to Tax Returns
------------------------------------------------------------------
The Hon. Marc Barreca Bankruptcy Court for the Western District of
Washington authorized Mark Calvert, the Chapter 11 trustee for
National Molecular Testing Corporation to expand the scope of the
retention of and pay retainer to The Dawson Group, PS.

Dawson is expected to review and file potential amendments to the
Debtor's 2012 and 2013 tax returns and prepare and file the tax
returns on behalf of the estate for 2014 and future years as
necessary.

The trustee is authorized to pay Dawson a retainer in the amount of
$10,000 for future services.  Such retainer may be applied by
Dawson after performing work for the trustee at Dawson's standard
hourly rate of $200, without further order of the Court provided
that (1) the trustee consents to such application of the retainer,
and (2) all fees are subject to review upon eventual fee
application to the Court.

On March 10, 2014, the Court authorized the employment of the
Dawson Group, PS as accountants for the Debtor to prepare tax
returns and to assist the Debtor generally during the pendency of
the bankruptcy.

The Dawson Group's services were expected to include but not be
limited to providing assistance to the Debtor and Debtor's counsel
with respect to the preparation and filing of the state and federal
tax returns.

                     About Natural Molecular

Natural Molecular Testing Corp., which provides molecular
diagnostic-testing services, including testing for sexually
transmitted diseases and screening and counseling about cystic
fibrosis, filed a petition for Chapter 11 protection (Bankr. W.D.
Wash. Case No. 13-19298) on Oct. 21, 2013, in Seattle.  Hacker &
Willig, Inc., P.S., serves as its bankruptcy counsel.  The closely

held company said assets are worth more than $100 million while
debt is less than $50 million.

Gail Brehm Geiger, Acting U.S. Trustee for Region 18, appointed a
five-member Committee of Unsecured Creditors.  Foster Pepper's Jane

Pearson, Esq.; Christopher M. Alston, Esq., and Terrance Keenan,
Esq., serve as the Committee's attorneys.


NATURAL MOLECULAR: Trustee Taps Committee's Foster Pepper
---------------------------------------------------------
Mark Calvert, the Chapter 11 trustee for Natural Molecular Testing
Corporation, asks the U.S. Bankruptcy Court for Western District of
Washington for permission to employ Foster Pepper PLLC as his
special counsel.

The firm will represent the Trustee in the adversary proceeding of
Mark Calvert, in his capacity as Chapter 11 trustee for Natural
Molecular Testing Corporation V. Beau R. Fessenden, Adv. No.
14-01087.

On Feb. 20, 2014, the Official Unsecured Creditors' Committee filed
the complaint to avoid and recover transfers, to recover unlawful
distributions, and for breach of fiduciary duties initiating the
lawsuit.  From that time through June 4, 2015, the Committee,
through its counsel Foster Pepper, has been prosecuting the Lawsuit
on behalf of the estate, in the Debtor's name.

On Sept. 29, 2014, the Court entered an order appointing the
Trustee.  On June 4, 2015, the Court, on the Committee's motion in
the Lawsuit, entered an order substituting parties and amending
captions, substituting the trustee for the Committee as plaintiff
in the lawsuit.

Jane Pearson will be the responsible attorney, with assistance, as
needed and as appropriate, from associates and legal assistants.
Ms. Pearson's current regular hourly rate is $515; for the lawsuit
her time will be billed at the reduced hourly rate of $475, which
is the same rate the Committee is billed for her work.  Any
associate or paralegal providing services in the lawsuit will bill
at an hourly rate of not more than $360 and $150, respectively.

The source of payment to Foster Pepper will be assets of the
bankruptcy estate in the case.

The Trustee believes Foster Pepper is a "disinterested person" as
that term is defined in Section 101(14) of the Bankruptcy Code.

According to the Trustee, Foster Pepper's prior and concurrent
representation of the Committee does not render it not
disinterested, given that the interests of the Trustee and
Committee are aligned with respect to the lawsuit.

The Court will convene a hearing on July 17, 2015, at 1:30 p.m., to
consider the matter.  Objections, if any, are due July 10.

Jane Pearson, Esq., a member of Foster Pepper, which maintains
offices at 1111 Third Avenue, Suite 3400, Seattle, Washington
submitted with the Court a declaration in support of application.

The trustee is represented by:

         John S. Kaplan, Esq.
         PERKINS COIE LLP
         1201 Third Avenue, Suite 4900
         Seattle, WA 98101-3099
         Tel: (206) 359-8000
         Fax: (206) 359-9000
         E-mail: JKaplan@perkinscoie.com



NET ELEMENT: Amends 53.6 Million Shares Resale Prospectus
---------------------------------------------------------
Net Element, Inc. filed an amended Form S-3 registration statement
with the Securities and Exchange Commission relating to the resale,
from time to time, in one or more offerings, by certain selling
securityholders of up to 53,600,000 shares of Common Stock of the
Company.  The Registration Statement was amended to delay its
effective date.

The Company's Common Stock is listed on The NASDAQ Capital Market
under the symbol "NETE."  On July 8, 2015, the last reported price
of a share of the Company's Common Stock on The NASDAQ Capital
Market was $0.35.

A copy of the Form S-3 prospectus, as amended, is available at:

                        http://is.gd/JMMhOQ

                         About Net Element

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

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

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

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


NET ELEMENT: Removes Bylaws' Fee-Shifting Provisions
----------------------------------------------------
To preemptively comply with the State of Delaware legislation that
has been passed to amend the Delaware General Corporation Law to
prohibit Delaware stock corporations from adopting bylaws with
fee-shifting provisions, Net Element, Inc. amended on July 10,
2015, to remove the fee-shifting provisions by deleting Sections
6.07 and 6.08 of the Company bylaws.  The Amendment removing the
fee-shifting provisions is effective as of June 15, 2015, the same
date as the date of the adoption of the fee-shifting provisions in
the Company's bylaws.  As the fee-shifting provisions were removed
as of the same date they were adopted, there will be no effect of
the fee-shifting provisions with respect to the Company or its
shareholders.

                         About Net Element

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

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

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

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


NICHOLS CREEK: July 28 Hearing on Amended Plan Disclosures
----------------------------------------------------------
U.S. Bankruptcy Judge Jerry. A Funk scheduled a hearing on July 28,
2015, to consider approval of the amended disclosure statement
explaining Nichols Creek Development, LLC's proposed Chapter 11
plan of liquidation.

Objections to the adequacy of the information in the disclosure
statement are due 7 days before the hearing.

The judge ordered that applications of attorneys and other
professionals for compensation must be submitted 30 days prior to
the hearing to consider confirmation of the Plan.

The Debtor has filed a liquidating plan that intends to pay off
secured creditors from the proceeds of the auction for its 270-acre
property in Jacksonville, Florida.  According to the Amended
Disclosure Statement, the Debtor now contemplates an auction to be
held within 90 days following confirmation of the Plan.

The Debtor will hire Hudson & Marshall to work in conjunction with
Bobby Gatling of CBRE to market and ultimately conduct an auction.

The Debtor previously announced a deal to sell its property to a
third party for the gross sales price of $14.9 million.  The buyer
deposited $75,000 in escrow and the sale was scheduled to close
March 23, 2015.  But the Debtor later withdrew its motion to
proceed with the sale.

The Amended Plan classifies claims as follows:

   * Class 1: Secured Claim of the Duval County Tax Collector.
   * Class 2: Secured Claim of the Whitney Bank, N.A.
   * Class 3: Secured Claim of Stokes Holding, LLLP.
   * Class 4: Second Secured Claim of Whitney Bank, N.A.
   * Class 5: Secured Claim of Hawkins Avenue Corp.
   * Class 6: Secured Claim of R2S, LLC.
   * Class 7: All remaining secured claims.
   * Class 8: General Unsecured Claims.

The proceeds will be distributed to creditors according to the
priorities established in the Bankruptcy Code.  Administrative
claims and Duval County Tax Collector's claim for ad valorem taxes
are unimpaired.  

According to the Amended Disclosure Statement, the Debtor will pay
Class 2 - secured Claim of Whitney Bank in full from the remaining
proceeds of the sale of all of the assets of the Debtor within 45
days of the auction or within 45 days from the date of the entry of
an order adjudicating any objections to its proof of claim becomes
final and non-appealable, whichever is later.  

Whitney Bank's Class 1 claim will be paid ahead of other secured
claims.  Lower ranked creditors won't be paid unless and until
higher ranked creditors are paid in full.  No distributions to
creditors of the estate will occur until claims with senior status
are adjudicated and allowed.

There are no allowed General Unsecured Creditors and therefore
there will be no distribution under the Plan.

A copy of the Combined Amended Disclosure Statement and Amended
Chapter 11 Plan of Liquidation dated May 23, 2015, is available for
free at:

   http://bankrupt.com/misc/Nichols_Creek_83_Am_DS_May_2015.pdf

                      About Nichols Creek

Nichols Creek Development, LLC, sought Chapter 11 bankruptcy for
protection (Bankr. M.D. Fla. Case No. 14-04699) on Sept. 26, 2014,
in Jacksonville, Florida.  R.L. Mitchell signed the petition as
member manager.  

The Debtor owns 270+ acre parcel of river front real property
commonly known as 9595 New Berlin Road Court, Jacksonville,
Florida.  In its schedules, the Debtor said the property is valued
at $21.8 million and pledged as collateral to secured creditors
owed a total of $11.6 million.

The Law Offices of Jason A. Burgess, LLC, serves as the Debtor's
counsel.


OHCMC OSWEGO: Court Enters Final Decree Closing Case
----------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
entered a final decree closing the Chapter 11 case of OHCMC-OSWEGO,
LLC.

As reported in the Troubled Company Reporter on June 2, 2015,
Richard S. Lauter, Esq., at Freeborn & Peters LLP, in Chicago,
Illinois, told the Court that the Debtor's estate has been
administered and the Debtor's Modified Plan of Liquidation has been
substantially consummated.

Mr. Lauter added that pursuant to the Plan, the Debtor has sold
substantially all of its assets -- three parcels of real property
-- to REO Funding Solutions V, LLC for $11,125,000.00.

Mr. Lauter told the Court that PNC Bank, N.A., has filed a motion
asking the Court to compel the Debtor to comply with the terms of
the Confirmed Plan and requested the entry of an order requiring
the Debtor to turn over $43,741 that PNC asserted constituted its
cash collateral.  Mr. Lauter further tells the Court that the
Debtor has filed a motion for surcharge against BMO Harris Bank,
N.A., and PNC Bank, the Debtors' pre-petition secured lenders, in
order to pay outstanding U.S. Trustee fees, which total $13,325 for
the third and fourth quarter of 2014, and additional amounts that
will be due for the first and second quarters of 2015.  The Debtor,
BMO, and PNC have reached an agreement in principal to resolve the
Surcharge Motion and the motion to compel and are in the process of
documenting that agreement through a stipulation.

Mr. Lauter said the Debtor, PNC, and BMO have agreed to resolve the
surcharge motion and the motion to compel so long as a final decree
is entered by May 31, 2015.  The Debtor was unable to timely file
its motion in order to give sufficient notice to all creditors.
Nevertheless, the motion will be served via ECF notice upon the
U.S. Trustee and all parties-in-interest who have filed an
appearance in this case and mailed to all parties in interest.  

                    About OHCMC-OSWEGO, LLC

OHCMC-Oswego, LLC, is an Illinois limited liability company that
was formed on July 12, 2005 to, inter alia, acquire, develop and
sell a series of real estate developments. It is wholly owned by
Oliver-Hoffman Corporation. Its principal place of business is
located at 3108 S. Rt. 59, Ste. 124-373, Naperville, Illinois.

OHCMC-Oswego filed a Chapter 11 bankruptcy petition (Bankr.
N.D.Ill. Case No. 14-05349) in Chicago on Feb. 19, 2014, with
plans to sell its assets. Camille O. Hoffmann signed the petition
as president of managing and sole member.  The Debtor disclosed
$92,268 plus an unknown amount in assets and $56,782,127 in
liabilities.  The Hon. Carol A. Doyle presides over the case.  The
Debtor is represented by David C. Gustman, Esq., at Freeborn
&Peters LLP.

The U.S. Bankruptcy Court confirmed the Debtor's Modified Plan
of Liquidation dated June 30, 2014, which contemplates a sale of
the Debtors' assets.

No trustee, examiner or creditors' committee has been appointed in
the case.



OHCMC OSWEGO: PNC Bank Withdraws Motion to Turnover Sale Proceeds
-----------------------------------------------------------------
Francis J. Pendergast III, on behalf of PNC Bank, National
Association, notified the U.S. Bankruptcy Court for the Northern
District of Illinois that PNC has withdrawn its motion to compel
OHCMC-Oswego, LLC, to turn over sale proceeds to PNC.

                        About OHCMC-Oswego

OHCMC-Oswego, LLC, is an Illinois limited liability company that
was formed on July 12, 2005 to, inter alia, acquire, develop and
sell a series of real estate developments. It is wholly owned by
Oliver-Hoffman Corporation. Its principal place of business is
located at 3108 S. Rt. 59, Ste. 124-373, Naperville, Illinois.

OHCMC-Oswego filed a Chapter 11 bankruptcy petition (Bankr. N.D.
Ill. Case No. 14-05349) in Chicago on Feb. 19, 2014, with plans to
sell its assets. Camille O. Hoffmann signed the petition as
president of managing and sole member. The Debtor disclosed
$92,268
plus an unknown amount in assets and $56,782,127 in liabilities.
The Hon. Carol A. Doyle presides over the case.  The Debtor is
represented by David C. Gustman, Esq., at Freeborn & Peters LLP.  

No trustee, examiner or creditors' committee has been appointed in
the case.

The U.S. Bankruptcy Court confirmed the Debtor's Modified Plan of
Liquidation dated June 30, 2014, which contemplates a sale of the
Debtors' assets.



OHCMC OSWEGO: PNC Bank's Bid to Turnover Cash Considered Moot
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
entered an order mooting the motion for turnover of cash collateral
from OHCMC-Oswego LLC to PNC Bank, National Association.

The motion was filed by Francis J. Pendergast III on behalf of PNC
Bank.  PNC Bank had asked the Court to compel the Debtor to turn
over more than $43,000 it earned from renting out a property in
Oswego, Illinois.  PNC Bank claimed the company violated the terms
of its liquidating plan when it failed to turn over to the bank the
payments it received during the period Feb. 28 to Oct. 31, 2014.

                        About OHCMC-Oswego

OHCMC-Oswego, LLC, is an Illinois limited liability company that
was formed on July 12, 2005 to, inter alia, acquire, develop and
sell a series of real estate developments.  It is wholly owned by
Oliver-Hoffman Corporation.  Its principal place of business is
located at 3108 S. Rt. 59, Ste. 124-373, Naperville, Illinois.

OHCMC-Oswego filed a Chapter 11 bankruptcy petition (Bankr. N.D.
Ill. Case No. 14-05349) in Chicago on Feb. 19, 2014, with plans to
sell its assets.  Camille O. Hoffmann signed the petition as
president of managing and sole member.  The Debtor disclosed
$92,268 plus an unknown amount in assets and $56,782,127 in
liabilities.  The Hon. Carol A. Doyle presides over the case.  The
Debtor is represented by David C. Gustman,, Esq., at Freeborn &
Peters LLP.

The U.S. Bankruptcy Court confirmed the Debtor's Modified Plan of
Liquidation dated June 30, 2014, which contemplates a sale of the
Debtors' assets.

No trustee, examiner or creditors' committee has been appointed in
the case.



ONE FOR THE MONEY: Sale-Based Plan Accepted by Impaired Creditors
-----------------------------------------------------------------
Anthony M. Marano, managing member of debtor One For The Money,
LLC, says in a filing with the U.S. Bankruptcy Court for the
Southern District of New York that all classes of non-insider
impaired creditors have voted to accept the Debtor's Liquidating
Chapter 11 Plan.  

The Plan designates six classes of Claims as Impaired: Class 1
(Allowed Secured Claims of Sutherland Asset I, LLC), Class 2
(Allowed Secured Claim of 75, LLC), Class 3 (Allowed Secured Claim
of Petros M. Beys), Class 4 (Allowed General Non-Insider Unsecured
Claims), Class 5 (Allowed General Insider Unsecured Claims).

Class 1 returned one timely ballot, totaling $12,648,808.56 voting
in favor of the Plan.  Class 2 returned one timely ballot, totaling
$8,000,000.  Class 3 returned one timely ballot, totaling
$3,037,201.09, voting in favor of the Plan.  Class 4 returned one
timely ballot, totaling $98,569.04, voting in favor of the Plan. No
ballots have been returned voting against the Plan.  As acceptances
were received by more than one half in number and more than two
thirds in amount of claims that voted, Class 1, 2, 3, and 4 have
voted to accept the Plan.

Mr. Marano says that the Plan also satisfies the other requirements
for confirmation.  

A copy of Mr. Marano's declaration is available for free at:

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

                        The Chapter 11 Plan

As reported in the June 3, 2015 edition of the TCR, One For The
Money, LLC, which originally intended to build a high-rise
condominium building on its vacant lot in 75 First Avenue, New
York, has filed with the Bankruptcy Court a liquidating plan that
contemplates the sale of its property for $12.9 million.

The Debtor, in its business judgment, has elected to go to contract
with 75 First Avenue Club, LLC, an entity wholly unrelated to the
Debtor or any of its insiders.

The purchase price of $12.9 million will be used to satisfy the
discounted and compromised claims of: (a) Sutherland Asset I, LLC,
the current first mortgage holder; (b) 75, LLC, its contemplated
assignee and, from the personal contribution of the non- Andrew
Bradfield members of 75, LLC, (c) the junior lien claim of Petros
Beys.

The Debtor seeks to sell the property absent competitive bidding
procedures under Sec. 363 of the Bankruptcy Code.  

Prior to the Chapter 11 case, AMB Partners and Andrew Bradfield,
its principal, commenced an arbitration against the other members
of 75 First Avenue, LLC ("75 LLC") seeking various forms of relief
and assertion of claims, including but not limited to claims
against the Debtor.  The Debtor's principals have recently reached
a global settlement/resolution with, inter alia, the members of 75
LLC, which settlement resolves, inter alia, the inter se disputes
among the 75, LLC members, settles the arbitration in full and
paves the way for a global consensual sale process in the Chapter
11 case.

                Treatment of Claims and Interests

The Plan proposes to treat claims and interests as follows:

   -- Allowed administrative claims of professionals estimated at
$125,000, unpaid U.S. Trustee estimated at $13,650, and allowed
priority claims estimated to be less than $25,000 will be paid, in
full, in cash.

   -- Class 1: The allowed secured claim of Sutherland Asset I, LLC
will be paid, in cash, from the sale proceeds, on the sale closing
date, the discounted amount of $4,113,195 together with per diem
interest and other required fees from April 23, 2015 at the rate
provided under the Option Extension Letter Agreement dated April
18, 2015.

   -- Class 2: The allowed secured claim of 75, LLC as assignee of
Sutherland Asset I, LLC will receive, in cash, from the sale
proceeds, on the sale closing date, the remaining net proceeds from
the sale after payment in full of (a) all unclassified Claims, (b)
all Allowed Administrative Expense Claims, (c) all Allowed Claims
of Professionals, (d) all Allowed Priority Claims, if any, (e) the
Allowed Class 3 Secured Claim in the amount of $1,250,000 and (f)
the Post-Confirmation Reserve on the later of the Sale Closing Date
or the Effective Date, in full and final satisfaction of all claims
against the Debtor.  Class 2 is anticipated to receive
approximately $6,750,000 from the sale Proceeds.  The members of
75, LLC shall, in turn, each receive distribution in accordance
with the 75 LLC Settlement Agreement.  

   -- Class 3: The Allowed Secured Claim of Petros M. Beys will be
paid in the discounted amount of $1,250,000, in cash, from the Sale
Proceeds, on the Sale Closing Date, in full and final satisfaction
of any and all Claims against the Debtor, its members, officers,
agents, representatives and assigns, including but not limited to
Anthony M. Marano, Anthony C. Marano and Scott A. Marano.  

   -- Class 4: The Allowed General Non-Insider Unsecured Claims, if
any, will be paid in full, in cash, without interest, within 15
days of the later of the (a) Sale Closing Date or (b) the Effective
Date, in full and final satisfaction of all Claims against the
Debtor.  The Debtor believes such claims do not exceed $50,000.  

   -- Class 5: The Allowed General Insider Unsecured Claims will
not receive a distribution under the Plan.  Class 5 Claims total
approximately $600,000.

   -- Class 6: The Allowed Interests will not receive any
distribution under the Plan.  The Class 6 Interest holders are
impaired under this Plan and are deemed to reject the Plan.

A copy of the Disclosure Statement dated May 27, 2015, is available
for free at:

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

                      About One For The Money

One For The Money, LLC is a single asset real estate entity that
owns a vacant lot located at 75 First Avenue, New York, New York
10003, Block 00446, Lot 0032.  The property located on the corner
of First Avenue and East 5th Street in the East Village
neighborhood of downtown Manhattan. The area is characterized by a
mixture of residential loft buildings, trendy restaurants, 'quick'
food stores, a wide variety of high-end retail establishments, and
food and dry goods wholesalers.

One For The Money sought Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Case No. 15-10188) in Manhattan on Jan. 28, 2015, without
stating a reason.  The petition was signed by Anthony M. Marano as
managing member.  The Debtor is owned by the Maranos and the
Galassos.  The largest shareholder is Anthony C. Marano, who owns
42%.  The Debtor reported $12,500,000 in total assets, and
$15,927,306 in total liabilities.

Jonathan S. Pasternak and the law firm of DelBello Donnellan
Weingarten Wise & Wiederkehr, LLP, in White Plains, New York, has
been tapped as counsel.


ONE SOURCE: Court Denies Bid to Appoint Chapter 11 Trustee
----------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas denied
the U.S. Trustee's motion for an order directing the appointment of
a Chapter 11 trustee in the case of One Source Industrial Holdings,
LLC.

The order is subject to these conditions:

   a) Neither the Debtors nor their operating affiliates will make
any further payment for the criminal legal expenses of Scott Jordan
without first (i) obtaining the approval of the Official Committee
of Unsecured Creditors for the making of the payment, or (ii)
filing a motion and, after appropriate notice and hearing, securing
approval from the Court to make such payment; and

   b) Neither the Debtors nor their operating affiliates will make
any further payment to Exxon Mobil Chemical Company, a division of
Exxon Mobil Corporation, pursuant to a settlement agreement dated
April 27, 2015, between certain of the Operating Affiliates and
Exxon without first (i) obtaining the approval of the Committee for
the making of such payment, or (ii) filing a motion and, after
appropriate notice and hearing, securing approval from the Court to
make the payment.

As reported in the Troubled Company Reporter on June 25, 2015, the
Debtor opposed the U.S. Trustee's motion for a Chapter 11 trustee,
citing that:

   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.

                          *     *     *

The Debtor filed amended Schedule D -- Creditors Holding Unsecured
Priority Claims.  A copy is available for free at:

  http://bankrupt.com/misc/OneSourceIndustrial_302_amendedSAL.pdf

                   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.



PLAZE INC: Moody's Assigns B2 Corp. Family Rating, Outlook Stable
-----------------------------------------------------------------
Moody's Investors Service assigned a B2 corporate family rating and
B2-PD probability of default rating to Plaze, Inc., and a B2 rating
to the company's proposed first lien senior secured credit
facilities, including a $315 million term loan due 2022 and a $30
million revolver due 2020.  The ratings outlook is stable.

Plaze has entered into a definitive agreement whereby Pritzker
Group will acquire the company from its current owners Olympus
Partners.  The acquisition will be funded with the proceeds of the
proposed $315 million first lien term loan and an equity
contribution from the new equity sponsor and management rollover
shareholders.  Plaze's existing indebtedness, consisting of $230
million term loan and borrowings under its revolving credit
facilities, will be repaid with the proceeds of this transaction.

The transaction results in approximately $80 million of incremental
debt and increases Plaze's pro forma leverage (Moody's-adjusted) to
5.5x from approximately 4.1x at March 31, 2015.  While this level
of leverage is elevated, the rating reflects the relative stability
of the company's operating performance due to the stability of its
end market demand given the consumable nature of product offerings,
its good competitive position, and Moody's belief that Plaze will
be able to de-lever towards 5.0x over the next 12 to 18 months.
The rating also reflects the company's solid interest coverage of
pro forma 2.9x adjusted EBITA to interest.

These rating actions were taken:

Issuer: Plaze, Inc. (New):

  Corporate family rating, assigned B2;
  Probability of default rating, assigned B2-PD;
  Proposed $315 million first lien senior secured term loan due
   2022, assigned a B2 (LGD4) rating;
  Proposed $30 million first lien senior secured revolving credit
   facility due 2020, assigned a B2 (LGD4) rating;
   Stable rating outlook.

All ratings are subject to the execution of the transaction as
currently proposed and Moody's review of final documentation.  The
instrument ratings are subject to change if the proposed capital
structure is modified.

The company's existing ratings, including on its first lien term
loan and revolving credit facility, have not been changed and will
be withdrawn upon closing of the transaction.

RATINGS RATIONALE

The B2 corporate family rating reflects Plaze's relatively small
scale compared to other manufacturing companies, niche focus in the
mature and highly competitive North American aerosol market,
history of debt-financed acquisitions, and high leverage resulting
from the proposed LBO transaction.  The rating is supported by the
stability of demand in many of the company's end markets due to the
consumable nature of the product offerings, which include household
and personal care products, along with the company's flexible
manufacturing capabilities, long-standing relationships with a
diversified customer base, and a good competitive position relative
to smaller specialty aerosol manufacturers.

The stable outlook reflects Moody's expectations of low- to
mid-single digit organic revenue and earnings growth at stable
margins.  The outlook also presumes that the company will maintain
a conservative approach to acquisitions and an adequate liquidity
position.

The ratings could be downgraded if the company experiences a
significant decline in revenues or margins, including from a
potential loss of significant customer accounts.  Negative ratings
pressure would also arise from sizeable debt-financed acquisitions
or other shareholder-friendly activities including dividend
payouts, or a liquidity deterioration.  Debt to EBITDA sustained
above 5.5x or retained cash flow to debt below 5% would warrant a
lower rating consideration.

The ratings could be upgraded if the company achieves robust
revenue growth while increasing operating margins, resulting in
strong free cash flow generation and debt reduction.  A
demonstrated commitment to conservative financial policies, strong
liquidity, and a modest and manageable pace of acquisitions will
also be key factors to a higher rating consideration.  Credit
metrics sustained at the following levels would support an upgrade:
adjusted debt to EBITDA below 4.0x, EBITA to interest in excess of
3.0x, and retained cash flow to debt of above 15%.

The principal methodology used in these ratings was Global
Manufacturing Companies published in July 2014.

Plaze, Inc., headquartered in Addison, Illinois, is a manufacturer
and marketer of specialty aerosol products, including cleaners,
disinfectants, lubricants, air fresheners, antiperspirants,
sunscreen, polishes, adhesives and insecticides for the North
American market.  The company has approximately 350 proprietary
aerosol formulations and serves janitorial, sanitation, industrial,
automotive, paint, glass, personal care and other end markets.
Plaze is being acquired by the Pritzker Group.  In the LTM period
ending March 31, 2015, the company generated approximately $394
million in revenues.



PREMIER EXHIBITIONS: Posts $2.5 Million Net Loss for First Quarter
------------------------------------------------------------------
Premier Exhibitions, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $2.5 million on $7.2 million of total revenue for the three
months ended May 31, 2015, compared to a net loss of $1.4 million
on $7.5 million of total revenue for the same period in 2014.

As of May 31, 2015, the Company had $38.4 million in total assets,
$31.3 million in total liabilities, $5.7 million in equity
attributable to shareholders of the Company and $1.4 million in
equity attributable to non-controlling interest.

Michael Little, Premier's interim president and chief executive
officer, stated, "Our disappointing performance during the quarter
is due to underutilization of our Bodies and Titanic exhibitions
coupled with rent expenses for 'Saturday Night Live: The
Exhibition' that were only modestly offset by revenues since the
exhibition opened in late May.  On the top-line, fewer overall
exhibitions presented resulted in a decrease in total exhibition
days as well as lower merchandise sales.  This in turn resulted in
lower gross profit and a higher net loss compared to the year-ago
period."

Little continued, "In the face of these challenges, our focus
remains reducing all non-essential expenses, including G&A, and
managing liquidity.  Although we incurred professional fees related
to the pending merger, we reduced our overall compensation expenses
to better align our base business cost structure with revenues.  We
are also doing everything possible to minimize our cash-burn given
our liquidity constraints."

A copy of the Form 10-Q is available at http://is.gd/uoXbtq

                     About Premier Exhibitions

Premier Exhibitions, Inc., develops, deploys and operates
exhibition products that are presented to the public in exhibition
centers, museums and non-traditional venues.  The Atlanta-based
Company's exhibitions generate income primarily through ticket
sales, third-party licensing, sponsorships and merchandise sales.

Premier Exhibitions reported a net loss of $11.7 million on $29.4
million of total revenue for the year ended Feb. 28, 2015, compared
with a net loss of $778,000 on $29.3 million of total revenue for
the year ended Feb. 28, 2014.

                        Bankruptcy Warning

On April 2, 2015 the Company announced that it had entered into a
definitive merger agreement whereby it plans to combine with
Dinoking Tech Inc.  Under the Merger Agreement, the DK shareholders
will be entitled to up to 24% of the fully diluted ownership of the
Company for all of the issued and outstanding shares of DK.  In
addition, an investor group has agreed to provide up to $13.5
million in convertible debt funding to Premier to repay $8 million
of existing debt and $5.5 million for corporate purposes including
the completion of the development of "Saturday Night Live: The
Exhibition" and "Premier Exhibitions 5th Avenue," the Company's
state-of-the-art exhibition and special events center located in
New York City.  To date the investor group has provided $11.5
million of this funding, which was used to retire the debt owed to
Pentwater Capital, to continue funding improvements on the building
at 417 Fifth Avenue, and to complete the Company's Saturday Night
Live Exhibition.  The transaction has been approved by the Board of
Directors of Premier.  Premier's principal shareholder, Sellers
Capital, LLC, and the directors and officers of the Company have
entered into agreements to vote in favor of the transaction.  The
completion of the transaction is subject to Premier shareholder
approval among other customary closing conditions.  The shareholder
meeting to approve the transaction is expected to be held no later
than September 2015. The merger is expected to be completed in
September 2015.

While the Company recently repaid a loan of $8 million, the Company
will have to repay these amounts to DK if the merger transaction
does not close.  As a result, the Company will have to refinance
the debt or obtain funds to repay the debt in full if that occurs.
The Company could be capital constrained and unable to fulfill the
terms of this and other agreements if its access to capital sources
does not improve in the near term.  Management believes that the
Company's access to capital depends on near-term improvement to its
operating results.

"If the Merger Agreement is not approved, or a public or private
placement of equity securities or of convertible promissory notes,
including potentially to some of the Company's existing
shareholders, is not completed, the Company may have to seek the
protection of the U.S. bankruptcy laws and/or cease operating as a
going concern.  In addition, if the Company does not meet its
payment obligations to third parties as they come due, the Company
may be subject to an involuntary bankruptcy proceeding or other
litigation claims.  Even if the Company were successful in
defending against these potential claims and proceedings, such
claims and proceedings could result in substantial costs and be a
distraction to management, and may result in unfavorable results
that could further adversely impact our financial condition," the
Company said in its annual report for the year ended Feb. 28, 2015.


QUEENS BALLPARK: Moody's Retains Ba1 Rating on $512MM PILOT Bonds
-----------------------------------------------------------------
Moody's Investors Service maintains Queens Ballpark Company, LLC's
Ba1 rating and stable outlook on the outstanding $512 million PILOT
Revenue Bonds, Series 2006; the $78 million PILOT Revenue Bonds,
Series 2009; the $53 million Installment Purchase Bonds, Series
2006; and the $7 million Lease Revenue Bonds, Series 2006, all
issued by the New York City Industrial Development Agency's.
Queens Ballpark Company, LLC is the obligor for these bonds issued
by the NYC IDA.

RATING RATIONALE

The Ba1 rating reflects the average cash flow predictability of
Ballpark with just over half of its revenues derived from medium to
long-term contracts with a stable underlying cost structure and a
level debt service amortization schedule.  The rating recognizes
the strength of the Mets baseball franchise as one of the most
valuable in the league and the Mets team non-relocation agreement.
The rating also reflects Ballpark's underperformance to its initial
revenue forecasts due to materially lower revenues as a result of
lower attendance levels compared to the original forecast.

The Ba1 rating further incorporates Ballpark's weak liquidity
profile given the lack of a strike reserve, minimal excess cash
held at Ballpark level due to monthly distributions to the parent
owner, and a weak Ambac surety policy funding the 2006 bonds' debt
service reserve funds (DSRF).  Of note, the DSRF for the 2006 PILOT
bonds is gradually being cash funded on an annual basis and has a
current balance of $21.4 million.  The 2006 PILOT Bonds comprise
the majority of annual debt service and nearly 80% of debt
outstanding and it will take several years before its DSRF is fully
cash funded to the required level.

OUTLOOK
The stable outlook reflects our expectation of continued stable
financial performance with debt service coverage in the 1.7 to 1.9
times range for the next couple of years due to partially
contracted cash flows and predictable costs.

What Could Change the Rating - Up
The rating could face upward pressure once all reserves are fully
cash funded and annual financial performance improves with higher
sustained annual debt service coverage ratios closer to the initial
forecast.

What Could Change the Rating - Down
The rating could face downward pressure if performance weakens due
to further declines in attendance or weaker contracted revenues
resulting in debt service coverage falling below 1.5 times.

ISSUER PROFILE

Queens Ballpark Company, LLC is a special purpose entity created to
lease, operate, maintain and manage the construction of Citi Field,
the home stadium of the New York Mets.  Queens Ballpark Company,
LLC is an indirect wholly owned subsidiary of Sterling Mets, L.P.
The New York City Industrial Development Authority acts as a
conduit issuer for the outstanding bonds, owns the facilities, and
has a 99-year ground lease with New York City for the land.  The
NYC IDA subleases Citi Field to Ballpark, who makes it available
for the Mets use under the stadium use agreement. Ballpark is
obligated to make Payments in Lieu of Taxes and rental payments to
the NYC IDA in an amount no greater than what the property taxes
would be on the property.  Ballpark also purchases, on an
installment basis, from the NYC IDA certain equipment, fixtures and
severable tenant improvements to be used in conjunction with its
use of the stadium.  The NYC IDA has pledged the PILOTS,
installment purchase payments and rental payments to the PILOT
bonds, installment purchase revenue bonds and the lease revenue
bonds, respectively.  Ballpark transfers its semi-annual PILOT
payment owed to NYC IDA to the trustee prior to debt service
payments in January and July.

LEGAL SECURITY FEATURES

No cash flow distributions to the Mets or rebates due on contract
revenues will be made unless Ballpark reasonably believes that
sufficient funds will be available to meet both current and
succeeding fiscal year obligations.  There is a non-relocation
agreement that extends beyond the final maturity date of the bonds,
which states that the Mets must play substantially all of its home
games at Citi Field.

PILOT Bonds

These bonds are secured by the annual payments in lieu of real
estate taxes and assessments (PILOTs) paid to NYC IDA by Ballpark.
Ballpark revenues used to pay these PILOTs are derived from the
premium portion of standard luxury suite revenue (not including
ticket sales portion of standard luxury suites), revenues from
party suites, ticket sales associated with a total of approximately
10,635 club and premium seats in designated areas of the new
stadium (retained seats), concessions and merchandise, parking,
signage and advertising and naming rights.  Ballpark retains the
right to these revenues for the term of the stadium lease and the
NYC IDA bonds.

Each annual obligation to make PILOTs is secured by a separate
leasehold PILOT mortgage, imposing a lien on Ballpark's leasehold
interest in the stadium.  Failure to make a PILOT, if not cured,
could trigger a foreclosure of Ballpark's leasehold of the stadium
by the NYC IDA.  A debt service reserve fund (DSRF) requirement
equal to 150% of maximum annual debt service is met by a surety
provided by Ambac Assurance Corp. with respect to the Series 2006
PILOT Bonds and Assured Guaranty Corp. (A3,Negative) with respect
to the Series 2009 PILOT Bonds.  The 2006 DSRF is gradually being
cash funded, as described above, given Ambac was downgraded below
investment grade and its surety policy no longer qualifies as a
funding source.

Lease Revenue Bond

The taxable lease revenue bonds are secured by minimum annual base
rent payments of $500,000 to $1,000,000 due to the NYC IDA pursuant
to the lease with Ballpark.  Rent payments are made to the NYC IDA
from Ballpark revenues.  The rental payment obligation is secured
by a leasehold rental mortgage, subordinate to the PILOT mortgages.
A DSRF requirement equal to 150% of maximum annual debt service is
met by a surety provided by Ambac with no requirement to replace
with cash.

Installment Purchase Bonds

The taxable installment purchase bonds are secured by installment
purchase payments due to the NYC IDA pursuant to an installment
sale agreement for certain stadium equipment with Ballpark.  These
payments are also made from Ballpark revenues and are secured by a
priority lien on the stadium equipment purchased with the bonds.  A
DSRF requirement equal to 150% of maximum annual debt service is
met with a surety provided by Ambac with no requirement to replace
with cash.

PRINCIPAL METHODOLOGY

The principal methodology used in this rating was Generic Project
Finance Methodology published in December 2010.



REICHHOLD HOLDINGS: Committee Taps BRG as Financial Advisor
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will convene
a hearing on Aug. 4, 2015, at 10:30 a.m., to consider the motion of
the Official Committee of Unsecured Creditors in the Reichhold
Holdings US, Inc., et al., to retain Berkeley Research Group, LLC,
as its substitute financial advisor.  Objections, if any, are due
July 16, at 4:00 p.m.

According to the Committee, on the formation date, the Committee
selected Hahn & Hessen LLP to serve as its lead counsel, Blank Rome
LLP to serve as its Delaware counsel, and Capstone Advisory Group,
LLC, together with its wholly owned subsidiary Capstone Valuation
Services, LLC to serve as its financial advisor.  

Effective June 1, 2015, many of Capstone's members and employees,
including the Capstone personnel involved in the chapter 11 cases
joined BRG and ended their affiliation with Capstone.  To ensure
continuity of representation, the Committee has requested that BRG
substitute for Capstone as their financial advisors in the cases,
effective as of June 1, 2015.

BRG will, among other things:

   a. advise and assist the Committee in its analysis and
monitoring of the Debtors' historical, current and projected
financial affairs, including, schedules of assets and liabilities
and statement of financial affairs;

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

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

BRG has agreed to a 15% discount off of its standard hourly rates.
The proposed rates of compensation, subject to final Court
approval, are the customary hourly rates in effect when services
are performed by the professionals and paraprofessionals who
provide services to the Committee.  The current standard hourly
rates for BRG (without discount) are:

                                           2015
                                           ----
   Managing Director                   $350 - $1,250
   Director                            $475 -   $640
   Staff                               $250 -   $475
   Support staff                       $125 -   $325

The current standard hourly rates for the BRG professionals
anticipated to be assigned to the engagement are:

   David Galfus                            $870
   Finbarr O'Connor                        $825
   Rick Wright                             $595
   Joseph Woodmansee                       $425

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

                          About Reichhold

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

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

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

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

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

The cases are assigned to Judge Mary F. Walrath.

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

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

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



RESIDENTIAL CAPITAL: Bids to Junk Suits vs. CMG, Home Loan Denied
-----------------------------------------------------------------
Judge Susan Richard Nelson of the United States District Court of
District of Minnesota denied CMG Mortgage, Inc., and Home Loan
Center, Inc.'s motions to dismiss the adversary proceedings filed
against them arising out of the sale of allegedly defective
mortgage loans.

The Plaintiffs assert breach of contract and indemnification
claims, seeking to recover damages based on their Chapter 11
bankruptcy losses and liabilities that the Plaintiffs allege were
caused by the Defendants.

Judge Nelson found that the Plaintiffs have sufficiently alleged a
claim for breach of contract, accordingly, the Defendant's motion
to dismiss the breach of contract claim is denied.  Because the
Defendants' motion to dismiss the Plaintiffs' indemnification claim
is conditioned on the successful dismissal of the breach of
contract claim, the dismissal of the indemnification claim is also
denied, Judge Nelson ruled.

The case is In Re: RFC and RESCAP Liquidating Trust Actions,
relating to ResCap Liquidating Trust v. CMG Mortgage, Inc., No.
14-CV-3522 (ADM) Residential Funding Company, LLC v. Home Loan
Center, Inc., No. 14-CV-1716 (DWF/JJK) (D. Minn.).

A full-text copy of Judge Nelson's Memorandum Opinion and Order
dated June 25, 2015, is available at http://is.gd/13lzYefrom
Leagle.com.

Anthony Alden, Esq. --  anthonyalden@quinnemanuel.com -- of Quinn
Emanuel Urquhart & Sullivan -- Bradley T. Smith, Esq. -- of
Felhaber Larson -- David Elsberg, Esq. --
davidelsberg@quinnemanuel.com -- of Quinn Emanuel Urquhart &
Sullivan LLP; David L. Hashmall, Esq., of Felhaber Larson; Donald
G. Heeman, Esq., of Felhaber Larson; Gabriel F. Soledad, Esq. --
gabrielsoledad@quinnemanuel.com -- of Quinn Emanuel Urquhart &
Sullivan; Isaac Nesser, Esq., of Quinn Emanuel Urquhart & Sullivan;
Jeffrey A. Lipps, Esq. -- lipps@carpenterlipps.com -- of Carpenter
Lipps & Leland LLP -- Jennifer A. L. Battle, Esq. --
battle@carpenterlipps.com -- of Carpenter Lipps & Leland LLP --
Johanna Ong, Esq. -- johannaong@quinnemanuel.com -- of Quinn
Emanuel Urquhart & Sullivan, LLP; Marnie E. Fearon, Esq., of
Felhaber Larson; Matthew R. Scheck, Esq. --
matthewscheck@quinnemanuel.com -- of Quinn Emanuel Urquhart &
Sullivan; Peter E. Calamari, Esq. -- petercalamari@quinnemanuel.com
-- of Quinn Emanuel Urquhart & Sullivan LLP; Richard R. Voelbel,
Esq., of Felhaber Larson; Ryan A. Olson, Esq., of Felhaber Larson;
Jessica J. Nelson, Esq., of Felhaber Larson; and Daniel R. Kelly,
Esq., of Felhaber Larson. serve as counsel for ResCap Liquidating
Trust.

David M. Souders, Esq. -- souders@thewbkfirm.com -- and Tessa K.
Somers, Esq. -- somers@thewbkfirm.com -- of Weiner Brodsky Kider
PC; Daniel J. Supalla, Esq. -- dsupalla@briggs.com -- of Briggs &
Morgan, PA; and James L. Forman, Esq. --
jforman@obermanthompson.com -- of Oberman Thompson, LLC; serve as
counsel for Defendant Academy Mortgage Corporation.

                     About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.

Neither Ally Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.7 billion in assets and $15.3 billion in
liabilities at March 31, 2012.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the
conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

ResCap sold most of the businesses for a combined $4.5 billion.
The Bankruptcy Court in November 2012 approved ResCap's sale of
its
mortgage servicing and origination platform assets to Ocwen Loan
Servicing, LLC and Walter Investment Management Corporation for $3
billion; and its portfolio of roughly 50,000 whole loans to
Berkshire Hathaway for $1.5 billion.

Judge Martin Glenn in December 2013 confirmed the Joint Chapter 11
Plan co-proposed by Residential Capital and the Official Committee
of Unsecured Creditors.


RESIDENTIAL CAPITAL: Suit Over Defective Loans May Proceed
----------------------------------------------------------
District Judge Susan Richard Nelson denied the defendants' Motion
to Dismiss in the case captioned In re: RFC and ResCap Liquidating
Trust Litigation This document relates to: Residential Funding
Company, LLC v. Mortgage Network, Inc., No. 13-cv-3491 (DWF/HB)
Residential Funding Company, LLC v. Lake Forest Bank & Trust
Company, No. 13-cv-3497 (PAM/FLN) Residential Funding Company, LLC
v. DB Structured Products, Inc. and MortgageIT, Inc., No. 14-cv-143
(ADM/TNL) Residential Funding Company, LLC v. Home Loan Center,
Inc., No. 14-cv-1716 (DWF/JJK), Residential Funding Company, LLC v.
Decision One Mortgage Company, LLC and HSBC Finance Corporation,
No. 14-cv-1737 (MJD/JSM), Residential Funding Company, LLC v.
E-Loan, Inc., No. 14-cv-1739 (PAM/JJK), Residential Funding
Company, LLC v. RBC Mortgage Company, No. 14-cv-3093 (PJS/BRT),
Residential Funding Company, LLC v. CMG Mortgage, Inc., 14-cv-3522
(ADM), Residential Funding Company, LLC v. Synovus Mortgage Corp.,
No. 14-cv-3525 (DWF/BRT), Residential Funding Company, LLC v. Honor
Bank f/k/a The Honor State Bank, No. 14-cv-3942 (DWF), Residential
Funding Company, LLC v. Primary Capital Advisors, LLC, No.
14-cv-3950 (DWF), Residential Funding Company, LLC v. PHH Mortgage
Corporation, No. 14-cv-4701 (JRT), Residential Funding Company, LLC
v. First Mariner Bank, No. 15-cv-92 (SRN/JJK), CASE NO. 13-CV-3451
(SRN/JJK/HB) (D. Minn.).

Residential Funding, LLC ("RFC") sued the defendants for the
latter's sale of allegedly defective mortgage loans to RFC. RFC
asserted two causes of action against each defendant: (1) a claim
for breach of contract based on alleged breaches of representations
and warranties; and (2) a claim for indemnification from the
defendants for losses and liabilities related to the defective
loans, as well as losses associated with defending the lawsuits and
proofs of claim that stem from those loans.

Defendants filed a Motion to Dismiss, arguing that: (1) RFC's
claims fail because it did not provide the contractually-required
notice and opportunity to repurchase or cure prior to bringing the
lawsuit; (2) RFC cannot bring suit on liquidated loans; (3) RFC is
not entitled to relief with respect to claims brought against it
for which it incurred no actual losses; and (4) the statute of
limitations precludes recovery on loans purchased prior to May 14,
2006.

In denying the Motion to Dismiss, Judge Nelson held that
satisfaction of conditions precedent is not an element of RFC's
claims that RFC is required to plead. She also held that the court
cannot properly dismiss RFC's claims based on liquidated loans at
this stage of the proceedings, because the contractual language
relied upon by the defendants is ambiguous, and its interpretation
cannot be resolved on a motion to dismiss. Neither can she resolve
at this stage, the issue concerning loans purchased prior to May
14, 2006 because the date upon which any defendant allegedly
breached Section A201(M) is a question of fact that goes beyond the
pleadings.

A copy of the June 16, 2015 amended memorandum opinion and order is
available at http://is.gd/fbW5K3from Leagle.com.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Universal American Mortgage Company, LLC, and Standard Pacific
Mortgage, Inc., Defendants, represented by Enza G Boderone, Bilzin
Sumberg Baena Price & Axelrod LLP, Erin Sindberg Porter, Greene
Espel PLLP, Janine Wetzel Kimble, Greene Espel PLLP, Jenny
Gassman-Pines, Greene Espel PLLP, Philip R. Stein, Bilzin Sumberg
Baena Price & Axelrod LLP, Shalia M Sakona, Bilzin Sumberg Baena
Price & Axelrod LLP & Daniel J Supalla, Briggs & Morgan, PA.

Wells Fargo Bank, N.A., formerly known as Wachovia Mortgage
Corporation formerly known as First Union National Bank formerly
known as First Union Mortgage Corporation, Defendant, represented
by Amy L Schwartz, Lapp Libra Thomson Stoebner & Pusch, Chartered,
Eric P Tuttle, Munger, Tolles & Olson LLP,Gregory D Phillips,
Munger, Tolles & Olson, LLP, Marc T G Dworsky, Munger, Tolles &
Olson, LLP,Michael E Soloff, Munger, Tolles & Olson LLP, Richard C
St John, Munger Tolles & Olson, Richard T Thomson, Lapp Libra
Thomson Stoebner & Pusch, Chartered, Thomas Jacob, Wells Fargo Law
Department, Todd J Rosen, Munger Tolles & Olson LLP & Daniel J
Supalla, Briggs & Morgan, PA.

BMO Harris Bank, N.A., doing business as M&I Bank, FSB, Defendant,
represented by Amanda Raines Lawrence, BuckleySandler LLP, Brett J
Natarelli, BuckleySandler LLP, Daniel J Supalla, Briggs & Morgan,
PA, David A Schooler, Briggs & Morgan, PA, Fredrick S Levin,
BuckleySandler LLP, Kristopher Knabe, BuckleySandler LLP, Michael
A. Rome, BuckleySandler LLP & Richard E Gottlieb, BuckleySandler
LLP.

Wells Fargo Financial Retail Credit, Inc., formerly known as
Norwest Financial Acceptance, Inc ., Defendant, represented by Eric
P Tuttle, Munger, Tolles & Olson LLP, Gregory D Phillips, Munger,
Tolles & Olson, LLP, Kristopher Knabe, BuckleySandler LLP, Marc T G
Dworsky, Munger, Tolles & Olson, LLP,Michael E Soloff, Munger,
Tolles & Olson LLP, Richard C St John, Munger Tolles & Olson,
Richard T Thomson, Lapp Libra Thomson Stoebner & Pusch, Chartered,
Thomas Jacob, Wells Fargo Law Department, Todd J Rosen, Munger
Tolles & Olson LLP, Amy L Schwartz, Lapp Libra Thomson Stoebner &
Pusch, Chartered & Daniel J Supalla, Briggs & Morgan, PA.

National Bank of Kansas City, Defendant, represented by Nancy A
Temple, Katten & Temple LLP, Scott N Gilbert, Katten & Temple LLP,
Seth J S Leventhal, LEVENTHAL pllc & Daniel J Supalla, Briggs &
Morgan, PA.

iServe Residential Lending, LLC, Defendant, represented by Erin
Sindberg Porter, Greene Espel PLLP,Janine Wetzel Kimble, Greene
Espel PLLP, Jeanette M. Bazis, Greene Espel PLLP, Peter L Loh,
Gardere Wynne Sewell LLP, Randy D Gordon, Gardere Wynne Sewell LLP
& Daniel J Supalla, Briggs & Morgan, PA.

United Fidelity Funding Corp, Defendant, represented by Michael J
Steinlage, Larson King, LLP.

DB Structured Products, Inc., Defendant, represented by Danielle
Kantor, Simpson Thacher & Bartlett LLP, David J Woll, Simpson
Thacher & Bartlett LLP, Isaac M Rethy, Simpson Thacher & Bartlett
LLP,Jonathan Nussbaum, Simpson Thacher & Bartlett LLP, William A
McNab, Winthrop & Weinstine, PA,William T Russell, Jr, Simpson
Thacher & Bartlett LLP & Daniel J Supalla, Briggs & Morgan, PA.

MortgageIT, Inc., Defendant, represented by David J Woll, Simpson
Thacher & Bartlett LLP, Isaac M Rethy, Simpson Thacher & Bartlett
LLP, William A McNab, Winthrop & Weinstine, PA & Daniel J Supalla,
Briggs & Morgan, PA.

CTX Mortgage Company, LLC, Defendant, represented by Benjamin E
Gurstelle, Briggs & Morgan, PA,Paul J Hemming, Briggs & Morgan, PA
& Daniel J Supalla, Briggs & Morgan, PA.

Pulte Homes, Inc., and PulteGroup, Inc., Defendants, represented by
Benjamin E Gurstelle, Briggs & Morgan, PA & Paul J Hemming, Briggs
& Morgan, PA.

Home Loan Center, Inc., Defendant, represented by Andrew Steinfeld,
American Morgage Law Group, P.C., Carol R M Moss, Hellmuth &
Johnson PLLC, Edward Page Allinson, American Mortgage Law Group,
P.C., J Robert Keena, Hellmuth & Johnson PLLC, Jack V Valinoti,
American Mortgage Law Group, P.C.,James W. Brody, American Mortgage
Law Group, Kyle E. Thomason, Williams & Connolly LLP, Daniel J
Supalla, Briggs & Morgan, PA, Elizabeth V Kniffen, Zelle Hofmann
Voelbel & Mason LLP & Matthew Van Johnson, Williams & Connolly
LLP.

Decision One Mortgage Company, LLC, Defendant, represented by Beth
A Stewart, Williams & Connolly LLP, Daniel J Millea, Zelle Hofmann
Voelbel & Mason LLP, Elizabeth V Kniffen, Zelle Hofmann Voelbel &
Mason LLP, Jesse T Smallwood, Williams & Connolly LLP, Matthew V
Johnson, Williams & Connolly LLP,Noorudin Mahmood Ahmad, Williams &
Connolly LLP, R. Hackney Wiegmann, Williams & Connolly LLP &Daniel
J Supalla, Briggs & Morgan, PA.

HSBC Finance Corporation, Defendant, represented by David J
Stagman, Katten Muchin Rosenman LLP,Gregory S Korman, Katten Muchin
Rosenman LLP, Nicole M Moen, Fredrikson & Byron, PA, Stuart M
Richter, Katten Muchin Rosenman LLP, Todd A Wind, Fredrikson &
Byron, PA & Daniel J Supalla, Briggs & Morgan, PA.

E-Loan, Inc., Defendant, represented by Sharda R Kneen, Lindquist &
Vennum PLLP, Terrence J Fleming, Lindquist & Vennum PLLP, Brooke D
Anthony, Anthony Ostlund Baer & Louwagie PA & Daniel J Supalla,
Briggs & Morgan, PA.

Rescue Mortgage, Inc., Defendant, represented by Christopher R
Morris, Bassford Remele, PA, Daniel R Olson, Bassford Remele, PA,
Jeffrey D. Klobucar, Bassford Remele, PA, Mark D Covin, Bassford
Remele, PA & Daniel J Supalla, Briggs & Morgan, PA.

American Mortgage Network, LLC, formerly known as American Mortgage
Network, Inc. doing business as Vertice, Defendant, represented by
Daniel J Supalla, Briggs & Morgan, PA.

RBC Mortgage Company, Defendant, represented by Amanda Raines
Lawrence, BuckleySandler LLP,Brian Wegrzyn, BuckleySandler LLP,
Daniel J Supalla, Briggs & Morgan, PA, David A Schooler, Briggs &
Morgan, PA & Matthew P Previn, BuckleySandler LLP.

CMG Mortgage, Inc, Defendant, represented by Andrew Steinfeld,
American Morgage Law Group, P.C.,Carol R M Moss, Hellmuth & Johnson
PLLC, Edward Page Allinson, American Mortgage Law Group, P.C.,J
Robert Keena, Hellmuth & Johnson PLLC, Jack V Valinoti, American
Mortgage Law Group, P.C., James W. Brody, American Mortgage Law
Group & Daniel J Supalla, Briggs & Morgan, PA.

Synovus Mortgage Corp., Defendant, represented by Brent D Hitson,
Burr & Forman LLP, Daniel J Supalla, Briggs & Morgan, PA, Mark G
Schroeder, Briggs & Morgan, PA & Victor L Hayslip, Burr & Forman
LLP.

Honor Bank, formerly known as The Honor State Bank, Defendant,
represented by Garth G Gavenda, Anastasi Jellum, PA, Lindsay W
Cremona, Anastasi Jellum, P.A., Susan Jill Rice, Alward Fisher Rice
Rowe & Graf, PLC, T Christopher Stewart, Anastasi Jellum, PA &
Daniel J Supalla, Briggs & Morgan, PA.

Primary Capital Advisors LLC, Defendant, represented by Daniel J
Supalla, Briggs & Morgan, PA, John O'Shea Sullivan, Burr & Forman
LLP, Mark G Schroeder, Briggs & Morgan, PA & Tala Amirfazli, Burr &
Forman LLP.

PHH Mortgage Corp., Defendant, represented by David T Schultz,
Maslon LLP, David M Souders, Weiner Brodsky Kider PC, Nicole E
Narotzky, Maslon LLP, Tessa K Somers, Weiner Brodsky Kider PC &
Daniel J Supalla, Briggs & Morgan, PA.

Global Advisory Group, Inc., Defendant, represented by Lance T
Bonner, Lindquist & Vennum PLLP.

Freedom Mortgage Corporation, Defendant, represented by Enza G
Boderone, Bilzin Sumberg Baena Price & Axelrod LLP, Erin Sindberg
Porter, Greene Espel PLLP, Janine Wetzel Kimble, Greene Espel
PLLP,Jenny Gassman-Pines, Greene Espel PLLP, Philip R. Stein,
Bilzin Sumberg Baena Price & Axelrod LLP &Daniel J Supalla, Briggs
& Morgan, PA.

Monarch Bank, Defendant, represented by Beth A Jenson Prouty,
Bassford Remele, PA & Daniel J Supalla, Briggs & Morgan, PA.

First Mariner Bank, Defendant, represented by Joel L Perrell, Jr.,
Miles & Stockbridge P.C., Michael E Blumenfeld, Miles &Stockbridge
P.C., Nicole M Moen, Fredrikson & Byron, PA, Timothy M Hurley,
Miles & Stockbridge P.C., Todd A Wind, Fredrikson & Byron, PA &
Daniel J Supalla, Briggs & Morgan, PA.

Sierra Pacific Mortgage Company, Inc., Counter Claimant,
represented by Navdeep Singh, Jenkins Kayayan LLP.


RETROPHIN INC: Restates 2013 Periodic Reports
---------------------------------------------
Retrophin, Inc. filed an amended annual report on Form 10-K/A for
the year ended Dec. 31, 2013, originally filed with the Securities
and Exchange Commission on March 28, 2014, to restate its
consolidated financial statements and related footnote disclosures
for that period.

In September 2013 and December 2013, the Company entered into two
consulting agreements and releases with individuals or entities
that had been investors in investment funds previously managed by
Martin Shkreli, the Company's former chief executive officer, or
that otherwise had financial dealings with Mr. Shkreli.  The
agreements provided for the issuance of a total of 346,500 shares
of common stock of the Company, and a total of $200,000 in cash
payments by the Company.  As their predominant purpose appears to
have been to settle and release claims against the MSMB Entities or
Mr. Shkreli personally, and not to provide meaningful and sustained
consulting services to the Company, it was concluded that the
Company should not treat these agreements as consulting agreements.
In addition, the Company paid approximately $165,000 of legal
fees, and $135,000 of other professional fees on behalf of the MSMB
Entities that requires disclosure.

The Company previously recognized expense related to the stock
issued pursuant to those consulting agreements over the term of
each such agreement.  Had the Company accounted for these
arrangements as settlements, the Company would have recorded, as of
the date of each such agreement, an expense and a settlement
liability related to the entire amount of the stock to be issued
under such agreement.  The settlement liability would have been
revalued at each reporting period based on changes in the Company's
stock price until the stock had been entirely issued.

In addition to the Amended Annual Report, the Company concurrently
filed an amendment to its quarterly report on Form 10-Q for the
quarter ended Sept. 30, 2013.  The Company filed the Form 10-Q/A to
restate its unaudited condensed consolidated financial statements
and related financial information for the periods contained in
those reports and to amend certain other items within those
reports.

As restated, the Company reported a net loss of $34.6 million for
the year ended Dec. 31, 2013, compared to a net loss of $33.8
million as previously reported.  The Company's amended balance
sheet at Dec. 31, 2013, showed $20.5 million in total assets, $40.2
million in total liabilities and a $19.7 million total
stockholders' deficit.

For the three months ended Sept. 30, 2013, the Company reported a
restated net loss of $12 million as compared with a net loss of
$10.8 million as reported.

Copies of the amended financial statements are available at:

                         http://is.gd/8Hiryk
                         http://is.gd/rmAsbt

                           About Retrophin

Retrophin, Inc., develops, acquires and commercializes therapies
for the treatment of serious, catastrophic or rare diseases.  The
Company offers Chenodal(R), a treatment for gallstones;
Vecamyl(R), a treatment for moderately severe to severe essential
hypertension and uncomplicated cases of malignant hypertension;
and Thiola, for the prevention of kidney stone formation in
patients with severe homozygous cystinuria.

Retrophin reported a net loss of $111 million in 2014 following a
net loss of $34.6 million in 2013.

As of March 31, 2015, the Company had $415.98 million in total
assets, $247 million in total liabilities and $169 million in total
stockholders' equity.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2014.  The accounting firm noted that the Company has
suffered recurring losses from operations, used significant amounts
of cash in its operations, and expects continuing future losses.
In addition, at Dec. 31, 2014, the Company had deficiencies in
working capital and net assets of $70.2 million and $37.3 million,
respectively.  Finally, while the Company was in compliance with
its debt covenants at Dec. 31, 2014, it expects to not be in
compliance with these covenants in 2015.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern, the auditors said.


RONALD WILLIAM DEMASI: Damages Claim Not Dischargeable in Ch. 11
----------------------------------------------------------------
Judge Michael G. Williamson of the United States Bankruptcy Court
for Middle District of Florida, Tampa Division, granted summary
judgment to Ravi Kondapalli, M.D., and Gulf Coast Digestive Health
Center, PL, in its adversary proceeding against Ronald William
DeMasi and Susan J. DeMasi.

In December 2012, a Florida state court determined that Dr. Ronald
DeMasi was liable for defrauding Gulf Coast.  Dr. Kondapalli seeks
a determination that Dr. DeMasi's state court liability is
non-dischargeable as a matter of law.

Judge Williamson determined that the claim arising under an award
for damages by the state court State Court, as subsequently amended
to the amount of $205,714, plus any post-judgment interest, is
non-dischargeable, therefore, Dr. Kondapalli is entitled to summary
judgment.

The adversary proceeding is Ravi Kondapalli, M.D., individually,
and Ravi Kondapalli, M.D., by and on behalf of Gulf Coast Digestive
Health Center, PL, Plaintiffs, v. Ronald William DeMasi, Defendant,
ADV. NO. 8:13-AP-00889-MGW (Bankr. M.D. Fla.).

The bankruptcy case is In re: Ronald William DeMasi and Susan J.
DeMasi, Chapter 11, Debtors, CASE NO. 8:13-BK-08406-MGW (Bankr.
M.D. Fla.).

A full-text copy of Judge Williamson's amended memorandum opinion
and order dated June 26, 2015, is available at http://is.gd/I99MRG
from Leagle.com.

Zala L. Forizs, Esq. -- zala@mcintyrefirm.com -- of McIntyre,
Thanasides, et al., serve as counsel for Plaintiff.

David S. Jennis, Esq., and Kathleen L. DiSanto, Esq., of Jennis &
Bowen serve as counsel for Defendant.


RYAN LLC: Moody's Assigns B2 Rating on $50MM 1st Lien Revolver
--------------------------------------------------------------
Moody's Investors Service has assigned a B2 rating to Ryan, LLC's
proposed $50 million first lien revolver and $250 million first
lien term loan, which mature in 2020.  Proceeds from the term loan
offering will be used to repay existing debt, as well as provide a
small amount of cash reserves for acquisitions.  At the same time,
Moody's has assigned a first time Corporate Family Rating of B3 to
Ryan and a Probability of Default Rating (PDR) of Caa1-PD.  The
ratings outlook is stable.

These ratings have been assigned at Ryan, LLC:

Corporate Family Rating at B3;
Probability of Default Rating at Caa1-PD;
$50 million senior secured revolver at B2 (LGD 3);
$250 million senior secured term loan at B2 (LGD 3);
The outlook is stable

RATINGS RATIONALE

The B3 Corporate Family Rating (CFR) reflects Ryan's modest size
with a short history of operating at its current revenue base, its
narrow service offering and its geographic concentration.  Ryan's
revenue base is approximately $400 million, over 70% of which is
derived in the US and Canada.  Although the company is larger than
most competitors in the corporate tax advisory services sector, it
is modestly sized in comparison to the broader range of business
service providers globally.  Moreover, the company has operated at
its current size only since 2012, when it purchased the Thomson
Property Tax Service Business, which added approximately $97
million in annual revenue and effectively provided the majority of
the company's Property Tax practices segment.  The rating also
reflects potential revenue and earnings volatility due to the
transactional nature of Ryan's business model.  Approximately 75%
of the company's revenue is based on performance fees, the primary
source of revenue in Ryan's two largest segments: Transaction Tax
and Property Tax practices.

The B3 rating also takes into account vulnerability in the
company's liquidity profile.  Ryan's liquidity is adequate to meet
its projected operating and debt service needs, but could
deteriorate if operating performance falls behind plans.  After
applying cash balances residual to the proposed refinancing towards
contemplated acquisitions in the second half of 2015, the company
is expected to maintain only minimal cash balances over the near
term.  At the same time, Ryan is expected to generate only a modest
level of free cash flow over the next 18 months, despite
projections of significant EBITDA levels, as CAPEX, working
capital, earn-out payments, cash interest expense, and the 8%
preferred shares coupon impose a substantial burden on cash flows.
Ryan's proposed $50 million revolver is appropriate for a company
of this size.  The revolver will be un-drawn on close, but it is
likely that the company will use a substantial portion of revolver
capacity to partially fund contemplated acquisitions in the second
half of 2015.  The company plans to repay these drawings by year
end through internally-generated cash flow, although Moody's
believes that this would be difficult if revenue growth, operating
margins, or the timing or amount of contribution from acquisitions
do not materialize as planned.

Moody's views favorably the company's relatively modest debt
levels, which result in credit metrics that are strong relative to
the ratings.  Ryan will have approximately $250 million of funded
debt on close of the refinancing transaction, which represents
about 60% of the company's LTM March 2015 revenue.  Moody's
estimates leverage (debt to EBITDA, pro forma for recent
acquisitions and including Moody's standard adjustments) of
approximately 4.1 times, interest coverage as measured by EBITA to
interest of roughly 2.7 times, and EBITDA margins in excess of 15%.
However, Moody's notes that Ryan's capital structure includes $75
million of preferred equity paying cash dividends at 8% annually.
Although Moody's treats preferred stock as equity in its
calculation of credit metrics, this instrument presents a weakness
in Ryan's capital structure, as the dividends will be a constraint
on free cash flow.

The company's credit profile is enhanced by its strong position in
the specialty tax service industry in the US, with a diverse
customer base that includes large blue chip companies that service
a variety of end markets.  Moody's views positively Ryan's size
relative to other accounting firms specializing in tax, which
allows the company to provide comprehensive multi-jurisdictional
tax, litigation, and other related services for clients.  Moreover,
Moody expects that the industry will continue to grow as more
companies move towards outsourcing tax services as the required
expertise can be significant and complex stemming from changes in
tax codes and regulatory requirements.  However, Ryan's growth will
likely involve the pursuit of further acquisitions, which entails
on-going integration risk and increasing use of debt.

The stable rating outlook reflects our expectation that the company
will grow its revenues and profitability moderately over the near
term, generating free cash flow of at least $20 million annually
which will be applied towards a modest amount of debt reduction.
Moody's expects that Ryan will continue to expand through small,
tuck-in acquisitions, which would be funded primarily through use
of free cash flow or temporary drawings on the revolver.

The ratings could be downgraded if revenue or margins decline,
possibly due to the of loss of clients or an increasing competitive
landscape, or if the company encounters material difficulty in
integrating acquisitions.  Acceleration in debt-financed
acquisitions, or the undertaking of an aggressive shareholder
return policy could also warrant a downgrade.  Lower ratings would
be considered if liquidity weakens materially, evidenced by
sustained weak free cash flow generation or increased borrowings
under the revolver.

A ratings upgrade would require the company to experience strong
revenue growth and stability over a wider geographic range, while
maintaining operating margins and significantly improving
liquidity.  The company would need to demonstrate successful
integration of acquired businesses over this period, with a
commitment to reduce debt through use of free cash flow.  Sustained
robust cash reserves along with a restoration of essentially full
availability to the revolver would be important for higher rating
consideration.

The company's $300 million first lien senior secured credit
facility is rated B2 (LGD3), which is one notch above Ryan's B3
CFR.  These facilities effectively comprise the company's entire
debt structure.  Accordingly, Ryan has been assigned a Family
Recovery Rate of 65% under Moody's Loss Given Default Methodology,
resulting in a an estimated loss in the event of default for these
facilities that supports a higher rating than the CFR.

The principal methodology used in these ratings was the Business
and Consumer Service Industry published in December 2014.

Ryan, LLC, headquartered in Dallas, TX, is a provider of tax
services across North America, Europe, Asia, Australia and Latin
America, with its largest tax practice located in the United
States.  The company provides a wide variety of tax services
related to, among others, transactional and property tax to over
12,000 clients in 13 countries.  Ryan generated sales for the
twelve months ended March 31, 2015 of nearly $404 million.



SA-ENC FORT MYERS: Bankruptcy Stays "Armbrust" Lawsuit
------------------------------------------------------
District Judge Sheri Polster Chappell in Fort Myers, Florida, said
the lawsuit filed by Ronald Armbrust against SA-ENC Fort Myers, LLC
d/b/a Citrus Gardens of Fort Myers, will be stayed pending the
resolution of Citrus Garden's bankruptcy proceedings.

The case is, RONALD ARMBRUST, Plaintiff, v. SA-ENC OPERATOR
HOLDINGS, LLC, Defendant, Case No. 2:14-cv-55-FtM-38CM (M.D. Fla.).
A copy of the District Court's June 23, 2015 Order is available at
http://bit.ly/1HS6Qi2from Leagle.com.

Ronald Armbrust, Plaintiff, represented by Jason L. Gunter, Jason
L. Gunter, PA.

SA-ENC Operator Holdings, LLC, a Florida limited liability company
doing business as Citrus Gardens of Fort Myers, Defendant,
represented by Jeremy Chase Branning, Clark, Partington, Hart,
Larry, Bond & Stackhouse & Daniel E. Harrell, Clark, Partington,
Hart, Larry, Bond & Stackhouse.

White Plains, New York-based SA-ENC Blu Fountain, LLC, SA-ENC Fort
Myers, LLC and several affiliated entities filed separate Chapter
11 bankruptcy petitions (Bankr. W.D. La. Case No. 15-50613 to
15-50622) on May 20, 2015.  The Debtors are affiliated with New
Louisiana Holdings LLC, which is a debtor in its own Chapter 11
case (Case No. 15-50756).  SA-ENC et al are represented by Patrick
J. Neligan, Jr., Esq., at Neligan Foley LLP, in Dallas.  SA-ENC Blu
Fountain listed $100,000 to $500,000 in estimated assets and $1
million to $10 million in estimated liabilities.  SA-ENC Fort Myers
estimated $1 million to $10 million in both assets and liabilities.
The petitions were signed by Raymond Mulry, designated officer.

A list of SA-ENC Blu Fountain's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/lawb15-50613.pdf

A list of SA-ENC Fort Myers, LLC's 20 largest unsecured creditors
is available for free at http://bankrupt.com/misc/lawb15-50614.pdf


SALADWORKS LLC: Buyer Wants Court to Hold Mixed Greens in Contempt
------------------------------------------------------------------
Saladworks, LLC, f/k/a SW Acquisition Complany, LLC, asks the U.S.
Bankruptcy Court for the District of Delaware to hold Mixed Greens,
LLC, and V&C Salads, LLC, in contempt for disregarding the order
approving the sale of substantially all of SW Liquidation, LLC's
assets.

Saladworks, LLC, which purchased the assets, relates that on June
17, 2015, it discovered that Mixed Greens continued to operate the
Mixed Greens Franchise as Saladworks and had not removed the
Saladworks' signage from the property, in violation of the Sale
Order.  The Purchaser adds that despite having promptly
communicated to Mixed Greens, via counsel, that its actions were in
violation of the Sale Order and requesting immediate compliance
with the Sale Order, Mixed Greens did not remove its Saladworks'
signage outside of the store.

The Purchaser's counsel, Ericka F. Johnson, Esq., at Womble Carlyle
Sandridge & Rice, LLP, in Wilmington, Delaware, a visit to the
Mixed Greens franchise on June 26 revealed numerous blatant
violations of the Sale Order, including the following: (a) All
decals on the outside windows & blade sign outside display
Saladworks' product pictures & trademarked sign; (b) Saladworks'
trademark protected green "fanatic'ly fresh" wallpaper is still
covering the walls of the store; (c) Saladworks' unique and custom
made purple wallpaper is still covering the walls of the store; (d)
Saladworks' proprietary salad cards are displayed in the salad
case; (e) Saladworks' proprietary soup card announcing the day's
soups was displayed on the store counter; (f) Saladworks'
trademarked 3 carrot-design is being used; (g) Saladworks' name was
on cookie packaging on the counter of the store; (h) a customer
leaving the store was carrying a carry-out bag with the Saladworks'
trademarked logo on it; (i) the Saladworks' menu was being used in
the store; and (j) use of Saladworks' proprietary Honest Tea
advertisements.

Ms. Johnson adds that V&C failed to pay its outstanding obligations
under the V&C Franchise Agreement by June 26, 2015.  She says that
as of June 30, 2015, V&C owes New Saladworks at least $14,237 under
the V&C Franchise Agreement.

The Purchaser also seeks payment of costs and attorneys' fees
incurred in having to pursue enforcement of the Sale Order.  The
Purchaser incurred $1,182 in costs for having to send a
representative to the Mixed Greens Franchise to determine whether
Mixed Greens was in compliance with the Sale Order.

The Purchaser is represented by:

          Mark L. Desgrosseilliers, Esq.
          Ericka F. Johnson, Esq.
          WOMBLE CARLYLE SANDRIDGE & RICE, LLP
          222 Delaware Avenue, Suite 1501
          Wilmington, DE 19801
          Telephone: (302)252-4320
          Facsimile: (302)252-4330
          Email: mdesgrosseilliers@wcsr.com
                 erjohnson@wcsr.com

             -- and --

          Paige E. Barr, Esq.
          KATTEN MUCHIN ROSENMAN LLP
          525 W. Monroe Street
          Chicago, IL 60661-3693
          Telephone: (312)902-5644
          Facsimile: (312)902-1061
          Email: paige.barr@kattenlaw.com

                 About Saladworks, LLC

Developed in 1986, Saladworks, LLC, is the first and largest

fresh-salad franchise concept in the United States.  From its

beginning in the Cherry Hill Mall, Saladworks quickly expanded
to 
12 additional locations in area malls and soon thereafter
began 
franchising.  The company has franchise agreements with
162 
different franchisees.  The equity owners are J Scar
Holdings,
Inc., (70%) and JVSW LLC (30%).



Saladworks, LLC, sought Chapter 11 bankruptcy protection (Bankr.
D.Del. Case No. 15-10327) on Feb. 17, 2015.  The case assigned to

Judge Laurie Selber Silverstein.



The Debtor has tapped Landis Rath & Cobb LLP as counsel; SSG

Advisors, LLC, as investment banker; EisnerAmper LLP, as financial

advisor; and Upshot Services LLC, as claims and noticing
agent.



Saladworks, LLC, disclosed $2,303,632 in assets and $14,220,722 in

liabilities as of the Chapter 11 filing.




SARATOGA RESOURCES: Hires Heller Draper as Co-Bankruptcy Counsel
----------------------------------------------------------------
Harvest Oil & Gas, LLC, et al., seek authority from the U.S.
Bankruptcy Court for the Western District of Louisiana, LaFayette
Division, to employ Heller, Draper, Patrick, Horn & Dabney, L.L.C.,
as co-bankruptcy counsel.

Heller Draper will render the following professional services:

   (a) advising the Debtors with respect to their rights, powers
       and duties as Debtor and Debtors-in-Possession in the
       continued operation and management of the businesses and
       properties;

   (b) preparing and pursuing confirmation of a plan of
       reorganization and approval of a disclosure statement;

   (c) preparing on behalf of the Debtors all necessary
       applications, motions, answers, proposed orders, other
       pleadings, notices, schedules and other documents, and
       reviewing all financial and other reports to be filed;

   (d) advising the Debtors concerning and preparing responses to
       applications, motions, pleadings, notices and other
       documents which may be filed by other parties herein;

   (e) appearing in Court to protect the interests of the Debtors
       before the Court;

   (f) representing the Debtors in connection with use of cash
       collateral and/or obtaining post petition financing;

   (g) advising the Debtors concerning and assisting in the
       negotiation and documentation of financing agreements, cash
       collateral orders and related transactions;

   (h) investigating the nature and validity of liens asserted
       against the property of the Debtors, and advising the
       Debtors concerning the enforceability of said liens;

   (i) investigating and advising the Debtors concerning, and
       taking such action as may be necessary to collect income
       and assets in accordance with applicable law, and the
       recovery of property for the benefit of the Debtors'
       estates;

   (j) advising and assisting the Debtors in connection with any
       potential property dispositions;

   (k) advising the Debtors concerning executory contract and
       unexpired lease assumptions, assignments and rejections and
       lease restructuring, and recharacterizations;

   (l) assisting the Debtors in reviewing, estimating and
       resolving claims asserted against the Debtors' estates;

   (m) commencing and conducting litigation necessary and
       appropriate to assert rights held by the Debtors, protect
       assets of the Debtors' Chapter 11 estates or otherwise
       further the goal of completing the Debtors' successful
       reorganization; and

   (n) to perform all other legal services for the Debtors which
       may be necessary and proper in the case.

The compensation of Heller Draper's attorneys and paraprofessionals
are proposed at varying rates currently ranging from $80.00 per
hour to $120.00 per hour for paraprofessionals, ranging from
$225.00 per hour to $275.00 per hour for associates, and from
$375.00 per hour to $450.00 per hour for members of Heller Draper.
Heller Draper will also seek reimbursement for actual and necessary
expenses incurred in connection with its engagement by the Debtors
in the Chapter 11 Cases.

Heller Draper understands that its compensation is subject to prior
Court approval.  Heller Draper says it will also make reasonable
efforts to comply with the U.S. Trustee's Appendix B Guidelines,
which are applicable in large cases.

Up to and including the Petition Date, Heller Draper provided
prepetition services and incurred prepetition expenses in
connection with the Debtors' Chapter 11 Cases.  Within the one year
period immediately preceding the Petition Date, the Debtors paid
Heller Draper a total of $242,404, of which $183,819 has been paid
for prepetition services and expenses, $8,585 for filing fees and
$50,000 for a retainer.

William H. Patrick, III, Esq., a member of the law firm of Heller,
Draper, Patrick, Horn & Dabney L.L.C., in New Orleans, Louisiana,
assures the Court that his firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtors and their
estates.

Mr. Patrick discloses that in the 2009 Bankruptcy, Heller Draper
represented the official committee of equity security holders in In
re: Harvest Oil & Gas, LLC, jointly administered with Saratoga
Resources, Inc., The Harvest, Group, LLC, LOBO Operating Inc., and
LOBO Resources, Inc., Chapter 11 Bankruptcy Case Nos. 09-50397
through 09-50401, filed in the Court.  The representation of the
equity committee concluded upon the effective date of the 2010 Plan
on May 14, 2010, when the equity committee was disbanded.  Heller
Draper has also represented the Debtors in certain limited matters
unrelated to this filing.  These matters are no longer on going.

Mr. Patrick further discloses that Heller Draper has been working
as local counsel with Latham & Watkins, LLP, counsel for the
holders of the Debtors' secured debt in these cases, in the
largely-concluded bankruptcy case of In re Piccadilly Restaurants,
LLC, et al, Case No. 12-51127, United States Bankruptcy Court,
Western District of Louisiana.  In addition, Heller Draper has
represented parties adverse to parties who are represented by
Latham in other unrelated cases.  Heller Draper has also in the
past and currently represents parties with adverse interests to
parties represented by its co-counsel in these cases, Gordon Arata,
in other unrelated cases.  None of these relationships will impair
the ability of Heller Draper to effectively represent the Debtors
in these cases, Mr. Patrick assures the Court.

The firm may be reached at:

         William H. Patrick, III, Esq.
         Tristan E. Manthey, Esq.
         Cherie Dessauer Nobles, Esq.
         HELLER, DRAPER, PATRICK, HORN & DABNEY L.L.C.
         650 Poydras Street, Suite 2500
         New Orleans, LA 70130
         Tel: (504) 299-3345
         Email: wpatrick@hellerdraper.com
                tmanthey@hellerdraper.com
                cnobles@hellerdraper.com

                     About Saratoga Resources

Saratoga Resources -- http://www.saratogaresources.com-- is an    
independent exploration and production company with offices in
Houston, Texas and Covington, Louisiana.  Principal holdings cover
approximately 51,500 gross/net acres, mostly held by production,
located in the transitional coastline and protected in-bay
environment on parish and state leases of south Louisiana and in
the shallow Gulf of Mexico Shelf.  Most of the company's large
drilling inventory has multiple pay objectives that range from as
shallow as 1,000 feet to the ultra-deep prospects below 20,000
feet
in water depths ranging from less than 10 feet to a maximum of
approximately 80 feet.

Saratoga Resources, Inc., Harvest Oil & Gas, LLC, and their
affiliated debtors sought protection under Chapter 11 of the
Bankruptcy Code on June 18, 2015.  The lead case is In re Harvest
Oil & Gas, LLC, Case No. 15-50748 (Bankr. W.D. La.).

The Debtors are represented by William H. Patrick, III, Esq., at
Heller, Draper, Patrick, Horn & Dabney, LLC, in New Orleans,
Louisiana.


SARATOGA RESOURCES: Proposes to Pay Insiders, Directors
-------------------------------------------------------
Harvest Oil & Gas, LLC, et al., seek authority from the U.S.
Bankruptcy Court for the Western District of Louisiana, LaFayette
Division, to pay the following insiders:

   -- Thomas F. Cooke, Chairman and Chief Executive Officer of each
of the Debtors;

   -- Andrew C. Clifford, President of each of the Debtors;

   -- Randal B. McDonald, Jr. Vice President - Finance;

   -- John W. Rhea, IV, Board of Directors and Independent
Directors Committee;

   -- Rex H. White, Jr., Board of Directors and Independent
Directors Committee;

   -- Kevin Smith, Board of Directors and Independent Directors
Committee; and

   -- Richard Nevins, Board of Directors and Independent Directors
Committee.

According to Tristan E. Manthey, Esq., at Heller, Draper, Patrick,
Horn & Dabney, L.L.C., in New Orleans, Louisiana, the identified
insiders, directors, officers and equity security holders of the
Debtors are compensated for their services at a rate at or below
that which is paid employees in comparable positions with other
businesses similar to the Debtors.

As of the Petition Date, the identified insiders receive the
following as salary for services performed:

   * Thomas F. Cooke - $329,888 annual salary with an automatic
      annual cost of living increases of 4% on July 1 of each
     succeeding year;

   * Andrew C. Clifford - $329,888 annual salary with an automatic
     annual cost of living increases of 4% on July 1 of each
     succeeding year;

   * Randal B. McDonald, Jr. - $176,000 annual salary;

   * John W. Rhea, IV - $16,000 (Board of Director fees) and
     $48,000 (Independent Directors Committee);

   * Rex H. White, Jr. - $14,000 (Board of Director fees) and
     $24,000 (Independent Directors Committee fees);

   * Kevin Smith - $10,000 (Board of Director fees) and $24,000
     (Independent Directors Committee fees); and

   * Richard Nevins - $100,000 (Independent Directors Committee
     fees).

The insiders also receive other benefits, such as cash bonus,
performance compensation, vacation pay, car allowance, home office
expense reimbursement, medical, dental and life insurance, and
stock option to purchase shares of common stock of Saratoga.

Mr. Manthey asserts that the services of all of the identified
insiders are vital for the Debtors to continue their operations and
necessary for the Debtors to have the chance to successfully
reorganize.  The Debtors, according to Mr. Manthey, have sufficient
revenue from their business operations to compensate the identified
insiders at the identified rates of pay, and have requested
authority to use cash collateral to pay necessary expenses and
costs of operation and preservation of their estates, including the
insiders' salaries and benefits.

The Debtors are also represented by William H. Patrick, III, Esq.,
and Cherie Dessauer Nobles, Esq., at Heller, Draper, Patrick, Horn
& Dabney, L.L.C., in New Orleans, Louisiana; and Louis Phillips,
Esq., at Gordon, Arata, McCollam, Duplantis & Eagan, LLC, in Baton
Rouge, Louisiana.

                     About Saratoga Resources

Saratoga Resources -- http://www.saratogaresources.com-- is an    
independent exploration and production company with offices in
Houston, Texas and Covington, Louisiana.  Principal holdings cover
approximately 51,500 gross/net acres, mostly held by production,
located in the transitional coastline and protected in-bay
environment on parish and state leases of south Louisiana and in
the shallow Gulf of Mexico Shelf.  Most of the company's large
drilling inventory has multiple pay objectives that range from as
shallow as 1,000 feet to the ultra-deep prospects below 20,000 feet
in water depths ranging from less than 10 feet to a maximum of
approximately 80 feet.

Saratoga Resources, Inc., Harvest Oil & Gas, LLC, and their
affiliated debtors sought protection under Chapter 11 of the
Bankruptcy Code on June 18, 2015.  The lead case is In re Harvest
Oil & Gas, LLC, Case No. 15-50748 (Bankr. W.D. La.).

The Debtors are represented by William H. Patrick, III, Esq., at
Heller, Draper, Patrick, Horn & Dabney, LLC, in New Orleans,
Louisiana.


SIGNAL INTERNATIONAL: Case Summary & 30 Top Unsecured Creditors
---------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

       Debtor                                    Case No.
       ------                                    --------
       Signal International, Inc.                15-11498
          RSA Battle House Tower
          11 North Water Street
          Mobile, AL 36602
       Signal Ship Repair, LLC                   15-11499
       Signal International, LLC                 15-11500
       Signal International Texas GP, LLC        15-11501
       Signal International Texas, L.P.          15-11502

Type of Business: Signal primarily engages in the business of
                  offshore drilling rig overhaul, repair,
                  upgrade, and conversion, as well as new
                  shipbuilding construction.

Chapter 11 Petition Date: July 12, 2015

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Debtors'          HOGAN LOVELLS US LLP
General
Counsel:

Debtors'          Blake M. Cleary, Esq.
Local             YOUNG, CONAWAY, STARGATT & TAYLOR, LLP
Counsel:          1000 North King Street
                  Wilmington, DE 19801
                  Tel: 302-571-6600
                  Fax: 302-571-1253
                  Email: mbcleary@ycst.com

                     - and -

                  Jaime Luton Chapman, Esq.
                  YOUNG CONAWAY STARGATT & TAYLOR, LLP
                  1000 West Street, 17th Fl.
                  P.O. Box 391
                  Wilmington, DE 19899-0951
                  Tel: 302-571-6600
                  Email: jchapman@ycst.com

Debtors'          GGG Partners, LLC
Restructuring
Advisors:

Debtors'          SSG CAPITAL ADVISORS, LLC
Sale
Advisors:

Debtors'          KURTZMAN CARSON CONSULTANTS LLC
Claims and
Noticing
Agent:

Total Assets: $102.4 million

Estimated Debts: $50 million to $100 million

The petition was signed by Christopher S. Cunningham, chief
financial officer.

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Max Specialty Insurance Company       Judgment        $3,976,362
c/o Stephen D. Straus
Traub LibermanStraus &
Shrewsberry LLP
Mid-Westchester Exectuive Park
Seven Skyline Drive
Hawthorne, NY
Fax: 914-347-8898

Jacob Joseph Kadakkarappa LLY          Judgment       $3,716,400
c/o Alan Bruce Howard (lead attorney)
Crowell & Moring, LLP
590 Madison Ave.
New York, NY 10022
Fax: 212-223-4134

Padavettiyil Isaac Andres              Judgment       $2,211,000
c/o Alan Bruce Howard (lead attorney)
Crowell & Moring, LLP
590 Madison Ave.
New York, NY 10022
Fax: 212-223-4134

Palanyandi Thangamani                  Judgment       $2,210,200
c/o Alan Bruce Howard (lead attorney)
Crowell & Moring, LLP
590 Madison Ave.
New York, NY 10022
Fax: 212-223-4134

Hemant Khuttan                          Judgment       $2,197,800
c/o Alan Bruce Howard (lead attorney)
Crowell & Moring, LLP
590 Madison Ave.
New York, NY 10022
Fax: 212-223-4134

Sony Vasudevan Sulekha                  Judgment       $1,923,200
c/o Alan Bruce Howard (lead attorney)
Crowell & Moring, LLP
590 Madison Ave.
New York, NY 10022
Fax: 212-223-4134

Port of Pascagoula                      Landlord         $595,645
Jackson County Port Authority
Post Office Box 70
Pascagoula, MS 39568
Fax: 228-762-7476

Meitec, Inc.                           Trade Debt        $468,111
1314 Underwood Rd.
Laporte, TX 77571
Fax: 504-888-1428

Willis of Alabama, Inc.             Insurance Broker     $362,230
PO Box 730416
Dallas, TX 75373-0416
Fax: 251-432-7241

Jamestown Metal Marine                 Trade Debt        $256,872
Sales Inc.
c/o Allen Powell
4710 NW Boca Raton Blvd., Suite 400
Boca Raton, FL 33431
Fax: 561-994-3969

Jackson County Tax Collector              Taxes          $218,105

MMIF, LLC                              Trade Debt        $186,493

McDonough Marine Service               Trade Debt        $176,012

Signet Maritime Corporation            Trade Debt        $145,258

Worldwide Diesel Power, Inc.           Trade Debt        $142,301

Southern Gas and Supply                Trade Debt        $133,008

Aaron Oil Company Inc.                 Trade Debt        $132,021

Gulf South Services, Inc.              Trade Debt        $130,640

Surfacejet, Inc.                       Trade Debt        $128,109

Consolidated Pipe & Supply Co.         Trade Debt        $118,611

Canal Barge Co. Inc.                   Trade Debt        $107,876

Jotun Paints, Inc.                     Trade Debt        $106,026

Jordan Pile Driving Inc.               Trade Debt         $98,931

Walashek Industries /                  Trade Debt         $83,921
Seattle Operation

Oil Recovery Co., Inc. of Alabama      Trade Debt         $85,681

Wesco Gas & Welding Supply Inc.        Trade Debt         $84,446

Empire Scaffold LLC                    Trade Debt         $72,474

Marine Contracting Group, LLC          Trade Debt         $68,588

Maritech Marine & Industrial           Trade Debt         $68,190
Services

D4, LLC                                Trade Debt         $67,559


SIMPLY FASHION: Court OKs $82K Incentive Pay to 9 Key Employees
---------------------------------------------------------------
Simply Fashion Stores, Ltd., sought and obtained from Judge Laurel
M. Isicoff of the U.S. Bankruptcy Court for the Southern District
of Florida, Miami Division, authority to implement its key employee
incentive program for nine non-insider employees and pay
approximately $82,000 in aggregate to the nine key employees.

The salient terms of the Incentive Program are as follows:

   (1) Base Salary. For so long as each Plan Participant remains
employed, salary and hourly rates for all Plan Participants will be
maintained at the current levels. In addition, each Plan
Participant will continue to receive his or her usual and customary
benefits, including health insurance.

   (2) Severance. Subject to the terms of the Incentive Program,
six of the Plan Participant will be entitled to receive a severance
of 10% of their Base Compensation and three Plan Participants will
be entitled to receive a severance of 15% of their Base
Compensation.

   (3) Incentive Payout. The Severance will be paid by the Debtor
on the last scheduled payment date of the Plan Participant's
employment by the Debtor, as determined by the Debtor in its sole
discretion. A Plan Participant who resigns prior to his or her
scheduled Termination Date will waive his or her right to
Severance. A Plan Participant that is terminated for cause will be
deemed to have waived his or her right to Severance. For purposes
of the Incentive Program, "cause" will mean termination resulting
from theft, fraud, gross negligence of the Plan Participant, or
failure of the Plan Participant to perform his or her duties.

   (4) Escrow of Funds. Immediately following the entry of an order
by the Court approving the Incentive Program, the Debtor will place
into escrow the amount of $82,271.  The funding for the incentive
payouts to the Plan Participants will be made via disbursements
from the Escrow Account.

   (5) None of the Plan Participants are directors or equity
security holders of the Debtor. Each Plan Participant remains
employed by the Debtor.

Christopher A. Jarvinen, Esq., at Berger Singerman LLP, in Miami,
Florida, said the Incentive Program is intended to retain the Plan
Participants during the liquidation process by providing these key
employees with a reasonable degree of certainty with respect to
their remaining tenure with the Debtor with respect to compensation
and timing.  He added that by reducing uncertainty among this group
of key employees by providing them with the compensation proposed
herein, the Debtor believes that the Incentive Plan provides
benefits to the affected employees sufficient to retain them which,
in turn, will allow them to focus their efforts in successfully
undertaking the additional work being asked of them, and
effectively manage the Debtor's operations and systems, during the
liquidation process.

The Debtors are represented by:

          Christopher A. Jarvinen, Esq.
          Paul Steven Singerman, Esq.
          BERGER SINGERMAN LLP
          1450 Brickell Avenue, Ste. 1900
          Miami, FL 33131
          Telephone: (305)755-9500
          Facsimile: (305)714-4340
          Email: cjarvinen@bergersingerman.com
                 singerman@bergersingerman.com

                 About Simply Fashion

Owned by the Shah family, Simply Fashion has 247 stores in 25

states across the country in major markets such as Detroit,
Miami, 
New Orleans, St. Louis, Chicago, Atlanta, Baltimore,
Nashville and
 Dallas. Founded in 1991, Simply Fashion is
primarily a brick and 
mortar retailer of Junior, Plus and Super
Plus women's fashion 
catering to African-American women between
the ages of 25 and 55, 
with locations in 25 states. 



Adinath Corp. is the general partner of Simply Fashion.  It is

owned 100% by Bhavana Shah.



On April 16, 2015, Adinath and Simply Fashion Stores, Ltd., each

filed a voluntary petition for relief under Chapter 11 of the

United States Bankruptcy Code in Miami, Florida (Bankr.
S.D.
Fla.). The cases are pending before the Honorable Laurel M.
Isicoff, and the Debtors have requested joint administration of the
cases under Case No. 15-16885.



The Debtors have tapped Berger Singerman LLP as counsel; 
Kapila
Mukamal, LLP, as restructuring advisor; and Prime Clerk LLC
as
claims and noticing agent.



Simply Fashion estimated $10 million to $50 million in assets
and
 debt.



The U.S. Trustee for Region 21 appointed five creditors to serve
on
 the official committee of unsecured creditors.
  The
Creditors' Committee retains Cooley LLP as counsel; Robert A.
Schatzman and the law firm GrayRobinson, P.A. as local counsel; and
Charles Berk and the firm of CBIZ Accounting, Tax & Advisory of New
York, LLC and CBIZ, Inc. as financial advisors.


SPEEDY CASH: Moody's Raises CFR to B3, Outlook Stable
-----------------------------------------------------
Moody's Investors Service upgraded Speedy Group Holdings Corp's
corporate family to B3 from Caa1 and senior unsecured ratings to
Caa2 from Caa3, as well as Speedy Cash Intermediate Holdings Corp's
senior secured rating to B3 from Caa1.  The outlook is stable.
These actions conclude the review for upgrade initiated on April
29, 2015.

RATINGS RATIONALE

The upgrades mainly reflect the company's stable operating
profitability, improved asset quality, and reduced leverage.

Speedy reported solid profitability with a ROAA of 15% in the first
quarter in 2015, which is higher than most of its rated peers.  The
company's gross margin increased to 48% in the 1Q15 from 43% in
1Q14 primarily reflecting improved asset quality as a result of
seasoning internet lending portfolio and enhanced underwriting
measures launched in mid-2014.  Provision for credit losses in 1Q15
declined by 35% year over year while net charge-offs to lending
revenues ratio declined to 21% in 1Q15 from 31% in 1Q14, which is
lower than median of other rated peers.

The company's leverage continued to decline as a result of stable
earnings.  Speedy's debt to EBITDA ratio was 3.1x as of 31 December
2014 declining from 5.4x as of Dec. 31, 2013.  In addition, the
company maintains a solid interest coverage ratio, which measured
3.8x at March end 2015.  These ratios were stronger than those of
most rated peers.  In addition, Speedy has accumulated positive
shareholder's equity since a sizable dividend payout in early
2013.

Rating challenges include Speedy's incremental credit risk from
material growth in internet lending, aggressive capital practices
as a result of sizable debt-financed dividends, geographic
concentration at state and city-level in the US, and heightened
political and regulatory pressure from the regulator of each key
market (e.g. US, Canada, and UK).

The stable outlook reflects our expectation that the company will
maintain stable profitability with continued capital growth and
prudently manage its liquidity and leverage levels.

Positive rating action could materialize if the company can
diversify its geographic as well as payday product concentrations.

Negative rating action could develop if the company does not
maintain conservative capital policy or if debt to EBITDA ratio
increases to above 5x.  Furthermore, the ratings could be
downgraded in case of a new regulation that may adversely impact
the company's business.

The principal methodology used in these ratings was Finance Company
Global Rating Methodology published in March 2012.



STANDARD REGISTER: Creditors Sue Silver Point Over WorkflowOne Deal
-------------------------------------------------------------------
The Official Committee of Unsecured Creditors in Standard
Register's Chapter 11 cases in June filed a lawsuit against
Company's board and officers, as well as equity firm Silver Point
Capital, L.P., and other firms.  The Committee claims that the
Company received "less than reasonably equivalent value" in
connection with its assumption of $210 million of secured debt
related to its acquisition of WorkflowOne, LLC, in 2013.

"These Chapter 11 Cases are the final act in a strategy
orchestrated by Silver Point to obtain ownership of the Debtors'
business, eviscerate hundreds of millions of dollars of unsecured
claims, offload liability for the Debtors' underfunded defined
benefit pension plan onto the PBGC, and reap the resulting cash
flow benefits entirely for itself at the expense of the Debtors'
other creditors and stakeholders," the Committee's attorney,
Kenneth A. Rosen, Esq., at Lowenstein Sandler LLP, says in the
lawsuit.

Through the adversary proceeding commenced in the U.S. Bankruptcy
Court for the District of Delaware, the Creditors Committee, on
behalf of the Debtors' estates, seeks to (among other things):

   * avoid and unwind, pursuant to sections 544 and 548 of the
Bankruptcy Code and applicable state law, the fraudulent transfers
made and obligations incurred by certain Debtors, in their largest
acquisition ever, in exchange for ownership of their deeply
insolvent competitor WorkflowOne in a lopsided transaction in which
the Debtors received less than reasonably equivalent value and were
left insolvent, undercapitalized, and unable to pay their debts as
they came due;

   * recover damages from the Debtors' board of directors and
certain key officers for the breach of their fiduciary duties in
approving the wasteful acquisition of WorkflowOne;

   * recover fees and transaction bonuses paid in connection with
the WorkflowOne acquisition;

   * avoid liens on certain of the Debtors' assets that were not
properly perfected prior to the commencement of the Chapter 11
Cases; and

   * obtain a judgment declaring that certain of the Debtors'
assets were unencumbered prior to the commencement of the Chapter
11 cases.

The Committee says the relief it seeks through the adversary
proceeding will, among other things, substantially reduce the
Debtors' obligations, preserve the value of the Debtors'
unencumbered assets for the benefit of unsecured creditors, provide
meaningful financial recoveries for the Debtors' estates, and
prevent Silver Point from obtaining all of the value of the
Debtors' business at the expense of the Debtors' other
stakeholders, including unsecured creditors.

Workflow, a competitor of Standard Register, filed for Chapter 11
bankruptcy in September 2010.  It emerged from bankruptcy in
February 2011 with a plan pursuant to which, (i) WF Holdings, an
entity affiliated with Silver Point, acquired all of the assets,
and (ii) the Workflow secured loans were converted into first and
second lien notes issued by WF Holdings.  

Standard Register in 2013 acquired WorkflowOne by agreeing to pay
$218 million, notwithstanding WorkflowOne's deteriorating revenues.
Standard Register incurred $210 million of new term loan
obligations as of the closing of the acquisition.

According to the Committee, prior to the WorkflowOne acquisition,
Standard Register had very little interest-bearing debt.  Although
its defined benefit pension plan was underfunded, its capital
structure was manageable.   Immediately following the acquisition,
the Debtors' liabilities exceeded the fair value of their assets.

Because Silver Point knew that the acquisition would leave the
Debtors overleveraged and that the Debtors would thereafter need to
use a chapter 11 proceeding to eliminate their pension liability
(in addition to other liabilities), the Committee contends that
Silver Point did not act in good faith in extending the terms loans
to the Debtors through the WorkflowOne acquisition.

The Committee says that Silver Point, as it had done with the
Workflow Debtors, caused the Standard Register to commence the
Chapter 11 cases on March 12, 2015 to effectuate an acquisition of
the Debtors' assets free and clear of liens and claims (including
but not limited to the Debtors' underfunded pension liability)
pursuant to section 363 of the Bankruptcy Code, with a Silver Point
affiliate credit bidding a substantial portion of the prepetition
term loans as the stalking horse purchaser.

The Committee claims that CEO Joseph P. Morgan, Jr., and CFO Robert
M. Ginnan had a significant personal interest in pursuing the
WorfklowOne acquisition by virtue of their interest in maintaining
their senior officer positions and receiving significant bonuses
and other compensation upon consummation of the transaction.

A copy of the complaint is available for free at:

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

                         *     *     *

The Committee in June 2015 won approval of its motion for standing
to pursue the lawsuit against the Company's board and Silver Point
Capital, L.P., an equity firm that agreed to acquire the Company,
over the acquisition of WorkflowOne in 2013.  The Debtors, Bank of
America, N.A., as agent for the prepetition and postpetition ABL
lenders, Silver Point, strongly opposed the Committee's plans to
sue, noting, among other things, that the value of Standard
Register's common stock increased 380%, from $3 per share to $14.40
per share following the announcement of the WorkflowOne
transaction.

                     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.


STANDARD REGISTER: Needs Until Oct. 8 to File Liquidating Plan
--------------------------------------------------------------
The Standard Register Company, et al., ask the U.S. Bankruptcy
Court for the District of Delaware to further extend their
exclusive plan filing period to October 8, 2015, and their
exclusive solicitation period to December 7, 2015, to give them
time to close the sale of substantially all of their assets, and,
subsequent thereto, wind down their estates.

According to the Debtors, following the closing, they intend to
pursue a Chapter 11 plan of liquidation to efficiently and
expeditiously conclude the proceedings.

The extension motion was filed by Andrew L. Magaziner, Esq.,
Michael R. Nestor, Esq., and Kara Hammond Coyle, Esq., at Young,
Conaway Stargatt & Taylor, LLP, in Wilmington, Delaware; and
Michael A. Rosenthal, Esq., Samuel A. Newman, Esq., Jeremy L.
Graves, Esq., and Matthew G. Bouslog, Esq., at Gibson, Dunn &
Crutcher LLP, in New York, on behalf of the Debtors.

                     About Standard Register

Standard Register 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.

The Official Committee of Unsecured Creditors tapped Lowenstein
Sandler LLP as its counsel, Polsinelli PC as Delaware counsel and
conflicts counsel, Jefferies LLC as its exclusive investment
banker, and Zolfo Cooper, LLC, as its financial and forensic
advisors.


STERLING MID-HOLDINGS: Moody's Lowers CFR to Caa1, Outlook Neg.
---------------------------------------------------------------
Moody's Investors Service downgraded Sterling Mid-Holdings
Limited's corporate family and DFC Finance Corp.'s senior secured
ratings by one notch to Caa1 from B3.  The outlook is negative.
These actions conclude the review for downgrade initiated on
April 29, 2015.

RATINGS RATIONALE

The downgrade is mainly driven by Sterling's weak profitability,
high leverage, and uncertainties over the company's ongoing
restructuring efforts in the UK.

Since 2014 Sterling's credit metrics has been weaker than those of
most rated peers reflecting sizable net losses and higher leverage
as a result of lower loan volume due to regulatory transition in
the UK.  Furthermore, the weaker profitability and higher leverage
while expected by Moody's has been more pronounced.

To cope with weak financial performance in the UK after more
restrictive regulations on short-term credit products, in the
quarter ended March 2015 the company began a review of its global
operation to improve its costs structure as well as operations and
expects to close approximately 240 stores or about 44% of total
stores in the UK and reduce approximately 33% of the UK workforce.
Moody's notes that as the company is still in the process of store
consolidation, uncertainties over future restructuring charges,
store closing costs, and cost savings remain.  Additionally, in
late 2014 the company launched new installment loan products in the
UK.  Despite the new product offering, we do not expect the total
loan volume to significantly rebound in the near future.

Moody's expected the company to de-lever starting mid-year 2015.
However, due to weaker than expected performance, we do not expect
the company to achieve noticeable improvement in financial leverage
over the next 12 months.

The negative outlook reflects Moody's continued concern regarding
Sterling's weak profitability and high leverage as well as
uncertainties over the company's ongoing restructuring efforts in
the UK.

The Company's weak performance in the UK is partially offset by
relatively stable operations in the U.S. and Canada which continue
to generate positive EBITDA and account for about 17% and 43% of
Sterling's total revenue, respectively.  Sterling's ratings also
reflect the company's leading market position in Canada as well as
diversified product offerings.  In addition, the acquisition of DFC
Finance by Lone Star Funds has improved the company's capital
position and extended the company's debt maturities to 2020, thus
reducing near-term refinancing risk.

Sterling's ratings are unlikely to be upgraded given the negative
outlook.  The outlook could return to stable if the company
successfully stabilizes its revenue and earnings.



TENET HEALTHCARE: Files Financials of Businesses Acquired
---------------------------------------------------------
Tenet Healthcare Corporation, on June 16, 2015, filed with the
Securities and Exchange Commission a current report on Form 8-K to
disclose, among other things:

    (i) the consummation of the transactions contemplated by the
        Contribution and Purchase Agreement, dated as of March 23,
        2015, as amended, by and among Tenet and USPI Group
        Holdings, Inc., Ulysses JV Holding I L.P., Ulysses JV
        Holding II L.P. and USPI Holding Company, Inc.; and

   (ii) the completion of the acquisition of European Surgical
        Partners Limited pursuant to the terms of the Share
        Purchase Agreement, dated as of March 23, 2015, between
        HCN European Surgery Center Holdings Limited and WCAS X
        Aspen UK LP and the other seller parties thereto.

On July 8, 2015, the Company filed an amended Form 8-K to provide
the financial statements and pro forma financial information
of USPI and Aspen as of Dec. 31, 2014, and 2013 and for the years
ended Dec. 31, 2014, 2013 and 2012.

   * Audited Combined Financial Statements of USPI and Aspen

                        http://is.gd/ygtRNe

   * Unaudited Combined Financial Statements of USPI and Aspen

                        http://is.gd/Lps0JC

   * Unaudited Pro Forma Condensed Combined Financial Information

                         http://is.gd/cTy8nd

                             About Tenet

Tenet Healthcare Corporation -- http://www.tenethealth.com/-- is a
national, diversified healthcare services company with 110,000
employees united around a common mission: to help people live
happier, healthier lives.  The company operates 80 hospitals, 214
outpatient centers, six health plans and Conifer Health Solutions,
a leading provider of healthcare business process services in the
areas of revenue cycle management, value based care and patient
communications.

Tenet Healthcare reported net income attributable to the Company's
shareholders of $12 million for the year ended Dec. 31, 2014,
compared to a net loss attributable to the Company's shareholders
of $134 million during the prior year.

As of March 31, 2015, the Company had $18.42 billion in total
assets, $17.2 billion in total liabilities, $208 million in
redeemable noncontrolling interests in equity of consolidated
subsidiaries and $972 million in total equity.

                         *    *    *

Tenet carries a 'B' IDR from Fitch Ratings, 'B' corporate credit
rating from Standard & Poor's Ratings Services and 'B1' Corporate
Family Rating from Moody's Investors Service.


TOLLENAAR HOLSTEINS: Court Approves 2nd Rye Grass Crop Sale
-----------------------------------------------------------
Russel K. Burbank, Chapter 11 Trustee for Tollenaar Holsteins,
sought and obtained authority from Judge Christopher D. Jaime of
the U.S. Bankruptcy Court for the Eastern District of California,
Sacramento Division, to sell the second cutting of rye grass
harvested by the end of the week of May 18, 2015, on the real
property occupied by the Debtor located in or near Elk Grove,
California.

Richard A. Lapping, Esq., at the Law Office of Richard A. Lapping,
in San Francisco, California, tells the Court that while the
Chapter 11 Trustee has not currently identified a buyer, both Bank
of the West and Jon Tollenaar have identified interested parties.
Mr. Lapping further tells the Court that the terms of the sale will
be at market price and, if more than one party is interested, to
the highest bidder, and will generally conform to the terms
approved by the Court in connection with the first cuttings.  He
says the proposed sale was consented to and requested by Bank of
the West and Jon Tollenaar, both of whom have an interest in the
Rye Grass.

Mr. Lapping says all proceeds of the sales will be deposited in the
Chapter 11 Trustee's bank accounts for the applicable Debtor and
retained pending further of the Court.  He explains that these
funds will be treated as contested funds not subject to
distribution to Bank of the West's distribution motion, which
accords the same treatment to the proceeds of the prior sale of Rye
Grass.

The Chapter 11 Trustee asked that the stay imposed upon orders
authorizing the use, sale or lease of property be waived in order
to allow the sales to proceed expeditiously and proposes that the
Court grant replacement liens to the Bank and any other party
asserting a lien or an interest in the cash sale proceeds to the
same extent, validity and priority as the secured or interested
parties hold on the Rye Grass.

The Chapter 11 Trustee is represented by:

          Richard A. Lapping, Esq.
          LAW OFFICE OF RICHARD A. LAPPING
          540 Pacific Avenue
          San Francisco, CA 94133
          Telephone: (415)399-1015
          Facsimile: (415)399-1038
          Email: Richard@LappingLegal.com
                 
                 About Tollenaar Holsteins

Tollenaar Holsteins and its affiliates Friendly Pastures, LLC,
and
T Bar M Ranch, LLC, sought protection under Chapter 11 of the

Bankruptcy Code (Bankr. E.D. Cal. Case No. 15-20840) on Feb.
4,
2015. The case is assigned to Judge Christopher D. Jaime.
The
 Debtors' counsel is Jason E. Rios, Esq., at Felderstein
Fitzgerald
 Willoughby & Pascuzzi LLP, in Sacramento, California.
The
 Bankruptcy Court approved the joint administration of the
cases of 
Tollenaar Holsteins, Friendly Pastures, LLC, and T Bar
M Ranch,
LLC, are jointly administered under the lead case of
Tollenaar 
Holsteins, Case No. 15-20840.



Russell K. Burbank was appointed as the Chapter 11 trustee for
the
Debtor.



TRACK GROUP: Sapinda Asia Reports 50.9% Stake as of July 7
----------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Sapinda Asia Limited and Lars Windhorst disclosed that
as of July 7, 2015, they beneficially owned 5,172,214 shares of
common stock of Track Group, Inc., which represents 50.9 percent of
the shares outstanding.  

Sapinda Asia directly owned 5,072,018 Shares, constituting
approximately 49.9% of the Shares outstanding.  In addition, Mr.
Windhorst directly owned 100,196 Shares, or approximately 1.0% of
the Shares outstanding.

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

                       http://is.gd/vItO1S

                         About Track Group

Track Group (formerly SecureAlert) -- http://www.trackgrp.com/--
is a global provider of customizable tracking solutions that
leverage real-time tracking data, best-practice monitoring, and
analytics capabilities to create complete, end-to-end solutions.

SecureAlert incurred a net loss attributable to the Company's
common stockholders of $18.9 million for the year ended Sept. 30,
2013, following a net loss attributable to the Company's common
stockholders of $19.9 million for the fiscal year ended Sept. 30,
2012.

As of March 31, 2015, SecureAlert had $58.3 million in total
assets, $38.9 million in total liabilities, and $19.3 million in
total equity.

Hansen, Barnett & Maxwell, P.C., in Salt Lake City, Utah, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Sept. 30, 2013.  The independent
auditors noted that the Company has incurred losses, negative cash
flows from operating activities, notes payable in default and has
an accumulated deficit.  These conditions raise substantial doubt
about its ability to continue as a going concern.


TRONOX INC: Trustee's Request for Instructions Granted
------------------------------------------------------
Bankruptcy Judge Michael E. Wiles granted the Tort Claims Trustee's
Motion for Instructions in the case captioned In re: TRONOX
INCORPORATED, et al., Chapter 11, Reorganized Debtors, CASE NO.
09-10156 (MEW) JOINTLY ADMINISTERED, (Bankr. S.D.N.Y.).

The Garretson Resolution Group, Inc., the Trustee for the Tronox
Incorporated Tort Claims Trust, filed a motion seeking instructions
as to claims made by individuals who were plaintiffs in many
pre-bankruptcy lawsuits relating to releases of creosote from a
plant in Columbus, Mississippi. The Trustee sought instructions as
to whether it was correct in permitting Mississippi Claimants who
had asserted "nuisance" claims to seek compensation from the Trust
for alleged personal injury, wrongful death, sickness or disease,
and/or whether the Tort Claims Trust Distribution Procedures (the
"TDPs") should be amended to allow the Trustee to undo its prior
notices of determination that allowed those claims.

Judge Wiles granted the Trustee's request for instructions, and
held that the Trustee properly allowed the Mississippi Claimants
who had timely filed "nuisance" claims in the bankruptcy case to
file claims seeking compensation from the Trust for personal
injury, wrongful death, sickness or disease.

A copy of the June 17, 2015 memorandum opinion is available at
http://is.gd/r9Re76from Leagle.com.

KEATING MUETHING & KLEKAMP PLL, By: Robert G. Sanker, Esq. --
rsanker@kmklaw.com -- Cincinnati, Ohio, Counsel for the Debtors.

BROWN RUDNICK, By: Edward S. Weisfelner, Esq. --
eweisfelner@brownrudnick.com -- Bennett S. Silverberg, Esq. --
bsilverberg@brownrudnick.com -- New York, New York, Counsel for the
Avoca Plaintiffs.

JENNER & BLOCK, By: Richard Levin, Esq. -- rlevin@jenner.com -- New
York, New York, Counsel for the Mississippi Claimants.

HAL L. McCLANAHAN, III, By: Hal L. McClanahan, III, Esq., Columbus,
Mississippi, Counsel for Maranatha Faith Center.

                         About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection (Bankr. S.D.N.Y. Case No.
09-10156) on Jan. 13, 2009, before Hon. Allan L. Gropper.  Richard
M. Cieri, Esq., Jonathan S. Henes, Esq., and Colin M. Adams, Esq.,
at Kirkland & Ellis LLP in New York, represented the Debtors.  The
Debtors also tapped Togut, Segal & Segal LLP as conflicts counsel;
Rothschild Inc. as investment bankers; Alvarez & Marsal North
America LLC, as restructuring consultants; and Kurtzman Carson
Consultants served as notice and claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders were appointed in the cases.
The Creditors Committee retained Paul, Weiss, Rifkind, Wharton &
Garrison LLP as counsel.

Until Sept. 30, 2008, Tronox was publicly traded on the New
York Stock Exchange under the symbols TRX and TRX.B.  Since then,
Tronox has traded on the Over the Counter Bulletin Board under the
symbols TROX.A.PK and TROX.B.PK.  As of Dec. 31, 2008, Tronox
had 19,107,367 outstanding shares of class A common stock and
22,889,431 outstanding shares of class B common stock.

On Nov. 17, 2010, the Bankruptcy Court confirmed the Debtors'
First Amended Joint Plan of Reorganization under Chapter 11 of the
Bankruptcy Code, dated Nov. 5, 2010.  Under the Plan, Tronox
reorganized around its existing operating businesses, including
its facilities at Oklahoma City, Oklahoma; Hamilton, Mississippi;
Henderson, Nevada; Botlek, The Netherlands and Kwinana, Australia.


TRUMP ENTERTAINMENT: Seeks Dec. 3 Extension of Plan Filing Date
---------------------------------------------------------------
Trump Entertainment Resorts, Inc., et al., ask the U.S. Bankruptcy
Court for the District of Delaware to further extend their
exclusive plan filing period through and including Dec. 3, 2015,
and their exclusive solicitation period through and including
Feb. 3, 2016, to allow them to maintain the Exclusive Periods in
the unlikely event that the Plan of Reorganization does not become
effective.

On March 12, 2015, the Court entered an order confirming the
Debtors’ Third Amended Joint Plan of Reorganization.  The
Effective Date has not yet occurred, as certain conditions
precedent to  the occurrence of the Effective Date, including the
CBA Order having become a Final Order, have not yet been met.
Although the Debtors believe that these conditions precedent will
ultimately be met, out of an abundance of caution, the Debtors seek
an extension of their exclusive periods.

The extension motion was filed by Matthew B. Lunn, Esq., Robert F.
Poppiti, Jr., Esq., Ian J. Bambrick, Esq., and Ashley E. Markow,
Esq., at Young Conaway Stargatt & Taylor, LLP, in Wilmington,
Delaware; and Kristopher M. Hansen, Esq., Erez E. Gilad, Esq., and
Gabriel E. Sasson, Esq., at Stroock & Stroock & Lavan LLP, in New
York.

               About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on
Sept. 9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13, 2104.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first
lien debt issued under their 2010 bankruptcy-exit plan.  The
Debtors also have trade debt in the amount of $13.5 million.

                         *     *     *

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware on March 12, 2015, confirmed Trump Entertainment Resorts,
Inc., et al.'s Third Amended Joint Plan of Reorganization and
Disclosure Statement pursuant to Section 1129 of the Bankruptcy
Code.

The Debtors filed on January 5, 2015, the Plan and accompanying
Disclosure Statement to, among other things, provide that holders
of General Unsecured Claims will receive Distribution Trust
Interests, which will include $1 million in cash and the proceeds,
if any, of certain avoidance actions.  Under the revised plan,
holders of general unsecured claims are estimated to recover 0.47%
to 0.43% of their total allowed claim amount.  The Amended Plan
also includes language reflecting the recently-approved $20
million loan from Carl Icahn.

A full-text copy of the Findings of Fact is available for free at:
http://bankrupt.com/misc/TRUMPENTERTAINMENT_Plan_Findings.pdf


UD DISSOLUTION: Wins Confirmation of Liquidation Plan
-----------------------------------------------------
Utah Bankruptcy Judge Joel T. Marker issued Findings of Fact and
Conclusions of Law, confirming the Plan of Liquidation, dated May
7, 2015, filed by UD Dissolution Corp.

The hearing to confirm the Plan was held July 9, 2015 at 10:00 a.m.
Blake D. Miller and Deborah R. Chandler of Miller Toone, P.C.
appeared on behalf of the Debtor; Peter W. Billings of Fabian
Clendenin appeared on behalf of the Official Committee of Unsecured
Creditors; Kenneth L. Cannon of Durham Jones & Pinegar appeared on
behalf of Abundance Private Opportunity Fund, LP; Laurie A. Cayton
appeared on behalf of the United States Trustee.

A copy of the Court's July 9, 2015 Findings of Fact and Conclusions
of Law is available at http://is.gd/fggzBqfrom Leagle.com.

UD Dissolution Corp., (fka V3 Systems, Inc.), based in Draper,
Utah, filed for Chapter 11 (Bankr. D. Utah Case No. 14-32546) on
Nov. 26, 2014.  Judge Joel T. Marker presides over the case.
Deborah Rae Chandler, Esq., at Miller Toone, P.C., serves as the
Debtor's counsel.  In its petition, UD estimated under $50,000 in
assets and $1 million to $10 million in liabilities.  The petition
was signed by Eric Lindstrom, trustee.  A list of the Debtor's 20
largest unsecured creditors is available for free at
http://bankrupt.com/misc/utb14-32546.pdf


ULTIMATE NUTRITION: JPMorgan Chase Seeks to Repossess Vehicle
-------------------------------------------------------------
JPMorgan Chase Bank, N.A., asks the U.S. Bankruptcy Court for the
District of Connecticut, Hartford Division, for lift the automatic
stay imposed in the Chapter 11 cases of Ultimate Nutrition, Inc.,
and Prostar, Inc., in order to obtain possession and dispose of its
vehicle, a 2013 Jaguar Xj Series.

JPMorgan's counsel, Mitchell J. Levine, Esq., at Nair & Levin,
P.C., in Bloomfield, Connecticut, tells the Court that the Lease
Agreement between Euro Performance Cars, Inc., and Ultimate
Nutrition, Inc., and Elizabeth A. Rubino was assigned by the dealer
to JPMorgan Chase Bank, which is now the holder and owner of the
same.

As of June 19, 2015, Ultimate and Rubino were in default of the
payment obligations to JPMorgan, pursuant to the terms and
conditions of the Lease Agreement, as follows: (a) Balance Due:
$58,248.16, (b) Arrears: $5,448.10 for the months of January 22,
2015 through and including May 22, 2015.

Mr. Levine tells the Court that the Debtors continue to enjoy the
use and possession of the leased property subjecting the same to
normal occupational wear and tear thereby causing the leased
property to depreciate in value.  The continued use of the vehicle
without payment of rental charges to JPMorgan pursuant to the terms
and provisions of the Lease Agreement, will eventually render the
vehicle valueless, causing JPMorgan Chase Bank irreparable damage
to its interest in the same, Mr. Levine asserts.

Mr. Levine further asserts that JPMorgan's interest in the vehicle
will not be adequately protected if the automatic stay is allowed
to remain in effect.

JPMorgan is represented by:

          Mitchell J. Levine, Esq.
          NAIR & LEVIN, P.C.
          707 Bloomfield Avenue
          Bloomfield, CT 06002
          Telephone: (860)692-3164
          Facsimile: (860)242-2980
          Email: Mlevine@nairlevin.com

                About Ultimate Nutrition

Ultimate Nutrition, Inc., develops and distributes nutritional

supplements for body building, enhanced athletic performance
and
 fitness.  The products are sold worldwide in over 100
countries. 
The business was founded in 1979 by the late Victor
H. Rubino, one 
of the top amateur power lifters in the United
States at that 
time.



The company has two facilities located in
Farmington,
Connecticut, one product distribution center in New
Britain, 
Connecticut and a research and development center in
West Palm
 Beach, Florida.



Ultimate Nutrition and affiliate Prostar, Inc., sought Chapter
11
 bankruptcy protection (Bankr. D. Conn. Case Nos. 14-22402
and
14-22403) on Dec. 17, 2014.


On Dec. 19, 2014, the Court entered an order directing the joint

administration of the Debtors' cases for procedural
purposes.



The Debtors have tapped Pullman & Comley, in Bridgeport,

Connecticut, as counsel; LaQuerre Michaud & Company, LLC, as

accountant; and Marcum LLP, as financial advisor.



Ultimate Nutrition disclosed $20,157,424 in assets and $19,885,142

in liabilities as of the Chapter 11 filing.



The U.S. Trustee for Region 2 appointed three creditors of to serve
on the official committee of unsecured creditors.  The Committee
has selected Lowenstein Sandler, LLP to serve as its counsel, and
Neubert, Pepe & Monteith, P.C. to serve as its local counsel.
GlassRatner Advisory & Capital Group LLC, serves as its financial

advisor.



ULTIMATE NUTRITION: Seeks Oct. 12 Extension of Plan Filing Date
---------------------------------------------------------------
Ultimate Nutrition, Inc., and Prostar, Inc., filed a second motion
asking the U.S. Bankruptcy Court for the District of Connecticut,
Hartford Division, to extend the period by which they have
exclusive right to file a plan through and including Oct. 12, 2015,
and the period by which they have exclusive right to solicit
acceptances of the plan through and including Nov. 12, 2015.

Irve J. Goldman, Esq., at Pullman & Comley, LLC, in Bridgeport,
Connecticut, asserts that the loss of exclusivity would have a
deleterious effect on the Debtors, their estates, the creditors,
and all parties in interest.  He says that it would be nearly
impossible for the Debtors to dedicate sufficient resources to
formulating a plan if the Debtors were required to focus on
analyzing and responding to competing plans submitted by other
parties.

If the Debtors cannot preserve the exclusive right to present and
file a plan of reorganization, the Debtors may not be able to
continue to implement changes to their business and at the same
time construct a plan of reorganization while addressing competing
plans of reorganization, Mr. Goldman further asserts.

The Debtors are represented by:

          Irve J. Goldman, Esq.
          Jessica Grossarth, Esq.
          PULLMAN & COMLEY, LLC
          850 Main Street, P.O. Box 7006
          Bridgeport, CT 06601-7006
          Telephone: (203)330-2000
          Facsimile: (203)576-8888
          Email: igoldman@pullcom.com
                 jgrossarth@pullcom.com

               About Ultimate Nutrition

Ultimate Nutrition, Inc., develops and distributes nutritional

supplements for body building, enhanced athletic performance
and
 fitness.  The products are sold worldwide in over 100
countries. 
The business was founded in 1979 by the late Victor
H. Rubino, one
of the top amateur power lifters in the United
States at that 
time.



The company has two facilities located in
Farmington,
Connecticut, one product distribution center in New
Britain,
Connecticut and a research and development center in
West Palm
 Beach, Florida.



Ultimate Nutrition and affiliate Prostar, Inc., sought Chapter
11
 bankruptcy protection (Bankr. D. Conn. Case Nos. 14-22402
and
 14-22403) on Dec. 17, 2014.



On Dec. 19, 2014, the Court entered an order directing the joint

administration of the Debtors' cases for procedural
purposes.



The Debtors have tapped Pullman & Comley, in Bridgeport,

Connecticut, as counsel; LaQuerre Michaud & Company, LLC, as

accountant; and Marcum LLP, as financial advisor.



Ultimate Nutrition disclosed $20,157,424 in assets and $19,885,142

in liabilities as of the Chapter 11 filing.


The U.S. Trustee for Region 2 appointed three creditors of to serve
on the official committee of unsecured creditors.  The Committee
has selected Lowenstein Sandler, LLP to serve as its counsel, and
Neubert, Pepe & Monteith, P.C. to serve as its local counsel.
GlassRatner Advisory & Capital Group LLC, serves as its financial

advisor.



ULTIMATE NUTRITION: TD Bank Allowed to Inspect Premises, Inventory
------------------------------------------------------------------
Judge Ann M. Nevins of the United States Bankruptcy Court for the
District of Connecticut granted TD Bank, N.A., access to the
business premises of Ultimate Nutrition and affiliate Prostar,
Inc., for the purpose of conducting a physical inventory of the
Debtors' raw materials, work in process, and finished product, all
of which consist collateral securing the Debtors' indebtedness from
TD Bank.

Judge Nevins also gave the Bank authority to require Capital
Recovery Group to prepare and deliver a written report detailing
the method used for conducting the inventory, the steps taken, the
documents and records reviewed, the content of any interviews
conducted during the inventory process, any photographs created,
and any testing or sampling results conducted as part of the
inventory process.  The Bank will provide a complete copy of the
entire report to counsel for the Debtors and the Official Committee
of Unsecured Creditors.

Judge Nevins further directed the Debtors to provide the Bank or
Capital Recovery Group with copies of all purchase orders for raw
materials relating to the period from June 19, 2015 through June
18, 2015, and provide a budget forecast relating to the Debtors'
anticipated use of cash collateral during the period August 1, 2015
through January 31, 2016, to counsel for the Bank and the
Committee.

TD Bank sought authority to access to the Debtors' buildings and
property in order to inspect the collateral of Debtor in connection
with its objection to the Debtors' request for use of the cash
collateral.  According to TD Bank, the Cash Collateral Motion is
based on, among other things, a documented decline in collateral
comprised of raw materials and finished goods, GNC consignables and
both foreign and domestic accounts receivable in the amount of
$608,181 from December 17, 2014, through May 31; and an unexplained
loss in raw materials between October 31, 2014, and December 17,
2014, in the amount of $3,841,558 translating to a reduction of 40%
which was not disclosed until December 17, 2014.

In response to TD Bank's motion, the Debtors told the Court that
they have been conducting operations and financial reporting in
essentially the same manner since well before the start of their
lending relationship with TD in March 2009 and, for the most part,
have been highly profitable.  Since that time, TD has conducted at
least annual field examinations of the Debtors' facilities and
books and records, and has received on a monthly basis Borrowing
Base Certificates with substantial supporting documentation.  The
Debtors said they have operated profitably for many years prior to
the
Petition Date according to audited financial statements, all while
keeping their loan payment obligations to TD current.  The Debtors
asserted that TD relied on unenforceable authority to support an
inventory count and such request is beyond the scope of the
5/8/2015 cash collateral order.  TD's request for an inventory
inspection and count, if granted, would be totally disruptive to
business operations as an inventory count will harm business and is
not in the best interests of the estates and the creditors at this
juncture, the Debtors argued.

The Creditors' Committee joined in the Debtors' reply and asked the
Bankruptcy Court to overrule the Objection to cash collateral, and
grant the Debtors' authority to use cash collateral for the month
of July 2015.

The Debtors are represented by:

         Jessica Grossarth, Esq.
         PULLMAN & COMLEY, LLC
         850 Main Street, P.O. Box 7006
         Bridgeport, CT 06601-7006
         Tel.: 203 330 2000
         Fax: 203 576 8888
         Email: igoldman@pullcom.com
                jgrossarth@pullcom.com

TD Bank is represented by:

         Scott C. DeLaura, Esq.
         PALUMBO & DELAURA, LLC
         528 Chapel Street
         New Haven, CT 06511
         Tel: 203 773-1113
         Fax: 203 773-1597
         Email: sdelaura@palumboanddelaura.com

The Creditors' Committee is represented by:

         Douglas S. Skalka, Esq.
         NEUBERT, PEPE & MONTEITH, P.C.
         195 Church Street
         New Haven, CT 06510
         Tel: (203) 821-2000
         Email: dskalka@npmlaw.com

            -- and --

         Bruce S. Nathan, Esq.
         Barry Z. Bazian, Esq.
         LOWENSTEIN SANDLER LLP
         1251 Avenue of the Americas
         New York, NY 10020
         Tel: (212) 262-6700
         Fax: (212) 262-7402
         Email: bnathan@lowenstein.com
                bbazian@lowenstein.com

            -- and --

         Bruce D. Buechler, Esq.
         LOWENSTEIN SANDLER LLP
         65 Livingston Avenue
         Roseland, NJ 07068
         Tel: (973) 597-2500
         Fax: (973) 597-2400
         Email: bbuechler@lowenstein.com

               About Ultimate Nutrition

Ultimate Nutrition, Inc., develops and distributes nutritional
supplements for body building, enhanced athletic performance and
fitness.  The products are sold worldwide in over 100 countries.
The business was founded in 1979 by the late Victor H. Rubino, one
of the top amateur power lifters in the United States at that time.
The company has two facilities located in Farmington, Connecticut,
one product distribution center in New Britain, Connecticut and a
research and development center in West Palm Beach, Florida.

Ultimate Nutrition and affiliate Prostar, Inc., sought Chapter 11
bankruptcy protection (Bankr. D. Conn. Case Nos. 14-22402 and
14-22403) on Dec. 17, 2014. On Dec. 19, 2014, the Court entered an
order directing the joint administration of the Debtors' cases for
procedural purposes.

The Debtors have tapped Pullman & Comley, in Bridgeport,
Connecticut, as counsel; LaQuerre Michaud & Company, LLC, as
accountant; and Marcum LLP, as financial advisor.

Ultimate Nutrition disclosed $20,157,424 in assets and $19,885,142
in liabilities as of the Chapter 11 filing.

The U.S. Trustee for Region 2 appointed three creditors of to serve
on the official committee of unsecured creditors.  The Committee
has selected Lowenstein Sandler, LLP to serve as its counsel, and
Neubert, Pepe & Monteith, P.C. to serve as its local counsel.
GlassRatner Advisory & Capital Group LLC, serves as its financial
advisor.


VAUGHAN CO: District Court Affirms Ruling v. Lankford
-----------------------------------------------------
In the appealed case captioned, JUDITH A. WAGNER, as Chapter 11
Trustee of the bankruptcy estate of the Vaughan Company, Realtors,
Plaintiff/Appellee, v. DAVID LANKFORD and LEE ANN LANKFORD, husband
and wife, Defendants/Appellants, NOS. 14-CV-01153-RB-CG,
10-10759-J11, ADVERSARY NO. 12-1139-J (D.N.M.), Magistrate Judge
Carmen E. Garza recommended that the appeal be denied and the
Bankruptcy Court's Order be affirmed.

The Bankruptcy Court had found that the Vaughan Company, Realtors
("VCR") operated a promissory note program as a Ponzi scheme and,
therefore, VCR's transfers to its investors were made with actual
intent to defraud its creditors as these transfers were made in
furtherance of the Ponzi scheme. Appellants David Lankford and Lee
Ann Lankford were investors in VCR's note program.

On May 27, 2014, the Bankruptcy Court entered judgment in favor of
the Trustee, and declared that she was entitled to money judgments
against the Appellants in the amount in excess of their original
investments with VCR.

On December 1, 2014, Appellants filed their Motion to Vacate,
asking the Bankruptcy Court to vacate the judgment on the basis
that the Trustee committed fraud and fraud on the court by
initially miscalculating the total amount of their joint transfers
received from VCR. The motion was denied by the Bankruptcy Court.
On December 24, 2014, Appellants sought to vacate the Order denying
their Motion to Vacate under Rule 60(b)(3) and Rule 60(d)(3).

Judge Garza found that the appeal is without merit. She held that
the Appellants have not demonstrated by clear and convincing
evidence that the Trustee's alleged fraudulent conduct
substantially interfered with their ability to fully and fairly
prepare for and proceed at trial, or that her conduct was directed
to the judicial machinery itself.

A copy of the June 4, 2015 proposed findings and recommended
disposition is available at http://is.gd/C7syyTfrom Leagle.com.

David Lankford, Appellant, Pro Se.

Lee Ann Lankford, Appellant, Pro Se.

Judith A. Wagner, Appellee, represented by Mark Walsh Allen –
mallen@thearlandlawfirm.com -- Arland & Associates, LLC, Maureen A
Sanders, Sanders & Westbrook, PC, Daniel A White --
dwhite@askewmazelfirm.com -- Askew & Mazel, LLC, Edward A. Mazel
–- edmazel@askewmazelfirm.com -- Askew & Mazel, LLC & James A.
Askew -- jaskew@askewmazelfirm.com -- Askew & Mazel, LLC.

United States Trustee, Trustee, represented by Ronald Andazola, US
Trustee's Office.

About the Vaughan Company, Realtors

On February 22, 2010, the Vaughan Company, Realtors filed a
voluntary petition under Chapter 11 of the Bankruptcy Code.  Judith
A. Wagner was subsequently appointed as trustee of the bankruptcy
estate.

             About The Vaughan Company Realtors

The Vaughan Company Realtors filed for Chapter 11 protection
(Bankr. N.M. Case No. 10-10759) on Feb. 22, 2010.  George D.
Giddens, Jr., Esq., represents the Debtor in its restructuring
efforts.  The Company estimated both assets and debts of between
$1 million and $10 million.  Judith A. Wagner was appointed as
Chapter 11 Trustee.

Mr. Vaughan filed a separate Chapter 11 petition (Bankr. D. N.M.
Case No. 10-10763) on Feb. 22, 2010.  The case was converted to a
chapter 7 proceeding on May 20, 2010.  Yvette Gonzales is the duly
appointed trustee of the Chapter 7 estate.


VICTORY MEDICAL: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Victory Medical Center Southcross, LP
           fdba Innova Hospital San Antonio, LP
        2201 Timberloch, Suite 200
        The Woodlands, TX 77380

Case No.: 15-42818

Nature of Business: Health Care

Chapter 11 Petition Date: July 10, 2015

Court: United States Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: Hon. Michael D. Lynn

Debtor's Counsel: Melissa A. Haselden, Esq.
                  HOOVER SLOVACEK, LLP
                  Galleria Tower II
                  5051 Westheimer, Suite 1200
                  Houston, TX 77057
                  Tel: 713.977.8686
                  Fax: 713.977.5395
                  Email: Haselden@hooverslovacek.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Robert N. Helms, Jr., manager of its GP,
Victory Medical Center Southcross GP, J.LC.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txnb15-42818.pdf


WALTER ENERGY: BlackRock Reports 2.1% Stake as of June 30
---------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, BlackRock, Inc. disclosed that as of June 30, 2015, it
beneficially owned 1,679,647 shares of common stock of Walter
Energy Inc. which represents 2.1 percent of the shares outstanding.
A copy of the regulatory filing is available at:

                        http://is.gd/OQoqGC

                        About Walter Energy

Walter Energy -- http://www.walterenergy.com/-- is a publicly
traded "pure-play" metallurgical coal producer for the global steel
industry with strategic access to steel producers in Europe,
Asia and South America.  The Company also produces thermal coal,
anthracite, metallurgical coke and coal bed methane gas.  Walter
Energy employs approximately 2,700 employees, with operations in
the United States, Canada and the United Kingdom.

For the year ended Dec. 31, 2014, the Company reported a net loss
of $471 million following a net loss of $359 million in 2013.
As of Dec. 31, 2014, Walter Energy had $5.38 billion in total
assets, $5.10 billion in total liabilities, and $282 million in
stockholders' equity.

                            *    *    *

As reported by the TCR on June 25, 2015, Standard & Poor's Ratings
Services said it lowered its corporate credit rating on Walter
Energy Inc. to 'D' from 'CCC-'.  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.

The TCR reported on July 10, 2014, that Moody's downgraded the
Corporate Family Rating of Walter Energy to 'Caa2' from 'Caa1'.
"The downgrade in the corporate family rating reflects the
anticipated deterioration in performance, increased cash burn and
increase in leverage, given the recent met coal benchmark
settlement of $120 per tonne for high quality coking coal and our
expectation that meaningful recovery in metallurgical coal markets
is twelve to eighteen months away."


WASHINGTON MUTUAL: Suit Over Bonus Payments Remanded to FDIC
------------------------------------------------------------
District Judge Reggie B. Walton ruled on the cross-motions for
summary judgment filed in the case captioned WMI LIQUIDATING TRUST,
Plaintiff, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Defendant,
CIVIL ACTION NO. 14-1816 (RBW) (Columbia), and remanded the case to
the FDIC for further consideration.

WMI Liquidating Trust, the successor-in-interest to Washington
Mutual, Inc., a now-defunct multiple savings and loan holding
company that owned Washington Mutual Bank ("WMB") and WMI
Investment Corporation ("WMI"), filed a civil suit against the
Federal Deposit Insurance Corporation ("FDIC"), seeking judicial
review under the Administrative Procedure Act ("APA"), 5 U.S.C.
Section 706(2)(2012), and relief from the FDIC's refusal to approve
"golden parachute payments" that the plaintiff propose to pay
former employees and officers of the debtors.

The parties filed cross-motions for summary judgment.

Judge Walton concluded that it must remand the case to the FDIC so
that it can, at a minimum: (1) clarify why the plaintiff's apparent
failure to comply with the certification requirements of 12 C.F.R.
Section 359.4(a)(4) is insufficient alone to deny the plaintiff's
golden parachute payment application; and (2)consider further the
Retention Bonus component of the proposed payment to William
Finzer. Count two of the Complaint was dismissed for being
duplicative of Count one.

A copy of the June 16, 2015 memorandum opinion is available at
http://is.gd/4ct7wCfrom Leagle.com.

WMI LIQUIDATING TRUST, Plaintiff, represented by David Bruce Hird
-- david.hird@weil.com -- WEIL, GOTSHAL & MANGES, L.L.P., Brian S.
Rosen -- brian.rosen@weil.com -- WEIL, GOTSHAL & MANGES, LLP,
Cheryl A. James, WEIL, GOTSHAL & MANGES, LLP & John P. Mastando,
III -- john.mastando@weil.com -- WEIL, GOTSHAL & MANGES, LLP.

FEDERAL DEPOSIT INSURANCE CORPORATION, In its Corporate Capacity,
Defendant, represented by Erik Bond, FEDERAL DEPOSIT INSURANCE
CORPORATION.

                    About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- was the holding company for Washington    
Mutual Bank as well as numerous non-bank subsidiaries.

Washington Mutual Bank was taken over on Sept. 25, 2008, by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  WaMu owns
100% of the equity in WMI Investment.


WEBB BUSINESS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Webb Business Promotions, Inc.
          dba Webb Candy
        980 Aldrin Drive
        Eagan, MN 55121

Case No.: 15-32536

Chapter 11 Petition Date: July 10, 2015

Court: United States Bankruptcy Court
       District of Minnesota (St Paul)

Judge: Hon. Kathleen H Sanberg

Debtor's Counsel: Thomas Flynn, Esq.
                  LARKIN HOFFMAN DALY & LINDGREN LTD.
                  8300 Norman Center Dr, Ste 1000
                  Bloomington, MN 55437
                  Tel: 952-896-3362
                  Email: tflynn@larkinhoffman.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Alan Webb, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mnb15-32536.pdf


WENDY'S INTERNATIONAL: Moody's Lowers CFR to B2, Outlook Stable
---------------------------------------------------------------
Moody's Investors Service downgraded the ratings of Wendy's
International, LLC, including its Corporate Family Rating to B2
from B1, Probability of Default rating to B2-PD from B1-PD and
senior unsecured notes rating to Caa1 from B3.  The rating outlook
is stable.  In addition, Moody's will move the B2 CFR and B2-PD PDR
to Wendy's Company, the parent company of Wendy's.

RATINGS RATIONALE

The downgrade was driven by Wendy's recapitalization that resulted
in a material deterioration in credit metrics with leverage on a
debt to EBITDA basis of around 6.0 times.  Moody's also views the
recapitalization as an adoption of a more aggressive financial
policy given that the aggregate net proceeds from the transaction
is being used to fund share buybacks.

For the LTM period ending March 29, 2015, Moody's calculated
Wendy's lease adjusted leverage at approximately 4.1 times.
However, after incorporating the company's new capital structure
leverage would increase to around 6.0 times.  This compares to
Moody's publicly stated comment that a downgrade could occur if
debt to EBITDA were sustained above 5.0 times.

Ratings downgraded are:

Corporate Family Rating to B2 from B1
Probability of Default Rating to B2-PD from B1-PD
$100 million 7% senior unsecured notes due 12/15/2025 to Caa1
(LGD6) from B3 (LGD6)

The B2 Corporate Family Rating reflects Wendy's high leverage
driven by the adoption of a more aggressive financial policy,
significant capital expenditure requirements to reimage restaurants
and Moody's view that soft consumer spending and high level of
promotions and discounting by competitors will continue to pressure
earnings.  The ratings also consider Wendy's strong brand
awareness, meaningful scale and good liquidity.

The stable outlook reflects Moody's view that Wendy's credit
metrics will not materially deteriorate from current levels as
operating performance and earnings will benefit from new unit
growth and positive same store sales trends despite refranchising
initiatives and an aggressive financial policy that will likely
continue.

Factors that could result in a downgrade would include a
deterioration in operating performance or earnings or higher
corporate debt levels that cause a sustained deterioration in
credit metrics.  Specifically, a downgrade could occur if EBIT
coverage of interest fell below 1.75 times on a sustained basis.  A
more aggressive financial policy towards dividends and share
repurchases or deterioration in liquidity for any reason could also
result in negative ratings pressure.

A ratings upgrade would require a sustained improvement in
operating performance, driven in part by positive traffic and
average check that results in stronger earnings, operating margins
and debt protection metrics.  Specifically, ratings could be
upgraded if debt to EBITDA fell below 5.0 times and EBIT coverage
of interest exceeded 2.5 times on a sustained basis.  A higher
rating would also require good liquidity.

Wendy's International, LLC, a wholly owned subsidiary of The
Wendy's Company, owns, operates and franchises approximately 6,488
quick-service hamburger restaurants.  Annual revenues are
approximately $2.0 billion.


WILLBROS GROUP: S&P Lowers CCR to 'CCC+', Outlook Developing
------------------------------------------------------------
Standard & Poor's Ratings Services said that it has lowered its
corporate credit rating on Houston-based E&C company Willbros Group
Inc. to 'CCC+' from 'B-'.  The outlook is developing.

"The downgrade reflects that while we still anticipate that the
company's operating performance will improve incrementally in the
second half of 2015 relative to the first, we do not expect that it
will improve by as much as we had previously anticipated," said
Standard & Poor's credit analyst Robyn Shapiro.  The decline in
crude oil prices, combined with the drop in the U.S. rig count and
the reduced capital budgets of many producers and transporters,
continues to negatively impact Willbros' customers and its
end-market demand.  In S&P's view, this will likely lead to
continued pressure on the company's profitability and operating
performance in 2015, causing its credit measures to deteriorate.
Although Willbros has retained an outside party to manage the sale
of its additional assets and will likely use the proceeds from the
sale to reduce its debt balances, the company has not set a
definitive timetable for the completion of the sale process.

The developing outlook reflects the possibility that S&P could
raise or lower its ratings on Willbros based on the results of the
company's ongoing efforts to sell additional assets, further reduce
its debt balances, and improve the profitability of its remaining
businesses.  S&P's assessment will be based on its view of the
sustainability of the company's capital structure over the long
term.

S&P could lower the ratings if the company's proposed asset sales
are unexpectedly delayed or if Willbros' earnings and cash flow
deteriorate more than S&P had expected, such that it believes a
default is likely to occur within 12 months absent unexpected
favorable events.  S&P could also lower the ratings if it believes
that the company will not be able to get financial covenant relief
when the tests resume on their term loan next year.

S&P could raise the rating in the next 12 months if the company
successfully executes its proposed asset sales, reduces its debt
balances, and improves its operating performance such that S&P
believes the company can fund its operating and financing needs
with internally generated cash from its remaining businesses.  S&P
would also need to be confident that the company could obtain
covenant relief in a timely manner.



WPCS INTERNATIONAL: Issues 476,939 Common Shares
------------------------------------------------
WPCS International Incorporated issued 476,939 shares of its common
stock, par value $0.0001 per share, in transactions that were not
registered under the Securities Act of 1933, from July 1, 2015,
through July 10, 2015, according to a Form 8-K document filed with
the Securities and Exchange Commission.

The issuances on July 7, 2015, resulted in an increase in the
number of shares of Common Stock outstanding by more than 5%
compared to the number of shares of Common Stock reported
outstanding in the Current Report on Form 8-K filed by the Company
with the SEC on June 30, 2015.

The Company has issued a total of 1,253,409 shares of Common Stock
to holders of its Series F, F-1, G, G-1 and Series H Convertible
Preferred Stock upon the conversion of shares of Series F,
F-1,G,G-1 and Series H Convertible Preferred Stock.  As of July 10,
2015, the Company has 1,885,826 shares of Common Stock
outstanding.

                About WPCS International Incorporated

WPCS -- http://www.wpcs.com/-- operates in two business segments
including: (1) providing communications infrastructure contracting
services to the public services, healthcare, energy and corporate
enterprise markets worldwide; and (2) developing a Bitcoin trading
platform.

WPCS International incurred a net loss attributable to common
shareholders of $11.2 million for the year ended April 30, 2014,
as compared with a net loss attributable to common shareholders of
$6.91 million for the year ended April 30, 2013.

As of Jan. 31, 2015, the Company had $14.8 million in total assets,
$14.8 million in total liabilities and a $36,000 total deficit.

Marcum LLP, in New York, NY, issued a "going concern"
qualification on the consolidated financial statements for the
year ended April 30, 2014.  The independent auditing firm
noted that the Company has incurred significant losses and needs
to raise additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


[*] Kirkland & Ellis Snags Vault.com's Top Bankruptcy Firm Ranking
------------------------------------------------------------------
Offering deeper insight into the legal industry, Vault.com released
its Law Practice Area Rankings for 2016, examining how associates
rate peer firms in areas such as bankruptcy law.  This year saw a
major upset as Kirkland & Ellis snagged the No. 1 spot for
bankruptcy and restructuring that Weil, Gotshal & Manges had
occupied for the past six years.

Kirkland currently represents several high profile bankruptcy
clients, including Energy Future Holdings in the sixth largest
bankruptcy by debt and eighth largest by assets in U.S. history,
and Caesar's Entertainment Operating Company in its ongoing Chapter
11 case­which is among the 25 largest Chapter 11 cases ever filed
in the United States.  The firm also handles international
restructurings in Europe, Asia, Canada and Latin America.  Vault
survey respondents describe Kirkland as "insanely profitable" and
full of "hard-working," "meticulous" attorneys.

"Students who are looking for a fast-paced practice area that
offers courtroom experience often consider bankruptcy law," said
Nicole Weber, Law Editor at Vault.  "With significant resources
devoted to this practice and the most high profile matters, any of
these firms would be a great place to begin a career in bankruptcy
and restructuring."

In order to determine the Vault Practice Area Rankings, more than
17,000 associates were asked to vote for up to three firms they
consider strongest in their own practice area, but associates were
not permitted to vote for their own firm.  Vault's rankings feature
the firms that received the highest percentage of votes from survey
respondents.

The Top 10 Law Firms for Bankruptcy are:

    * Kirkland & Ellis
    * Weil, Gotshal & Manges
    * Jones Day
    * Skadden, Arps, Slate, Meagher & Flom
    * Akin Gump Strauss Hauer & Feld
    * Milbank, Tweed, Hadley & McCloy
    * Davis Polk & Wardwell
    * Kramer Levin Naftalis & Frankel
    * Paul, Weiss, Rifkind, Wharton & Garrison
    * Pachulski Stang Ziehl & Jones

Kramer Levin Naftalis & Frankel made the biggest move of any firm,
climbing five spots to No. 8.  This is the first year that Kramer
Levin has appeared in the Top 10.  Two new firms joined the
top-ranked bankruptcy firms this year: Willkie Farr & Gallagher, at
No. 13, and Simpson Thacher & Barlett, at No. 15.  Willkie shares
the No. 13 spot with three other firms: Cleary Gottlieb Steen &
Hamilton, Latham & Watkins and White & Case.  Meanwhile, Cravath,
Swaine & Moore and King & Spalding fell off this year's Best Law
Firms for Bankruptcy list.

View the entire Vault Law Practice Area Rankings at

                       http://is.gd/nKhwyT

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[*] Moody's B3 Negative and Lower Corporate Ratings List Breaks 200
-------------------------------------------------------------------
Moody's Investors Service, on July 7, 2015, related in a new report
that the number of companies on its B3 Negative and Lower Corporate
Ratings List has surpassed 200 for the first time since mid-2010.
The last time the list included so many names was in July that
year.

Moody's B3 Negative and Lower Corporate Ratings List includes all
US non-financial companies with a probability of default rating of
B3 negative or below.

"The number of issuers on our B3 Negative and Lower Corporate
Ratings list totaled 206 as of June 1, up 12% from 184 a quarter
earlier," says Senior Vice President, David Keisman.  "This
continues a trend of consecutive quarterly upticks that began in
the third quarter of 2013."

Today the companies on the list represent just 14% of all
Moody's-rated US speculative-grade issuers, compared with 25% in
the first quarter of 2009, Keisman says in "List Breaks 200 but
Remains Far from Credit Crisis Peak."  While this is positive,
Moody's also notes that the percentage of companies on the
lower-rated rungs of the speculative-grade universe is increasing.
Companies rated B1, B2 or B3 represented 71% of the US
speculative-grade population as of June 1, against 58% in the first
quarter of 2009.

"During a credit crisis, companies rated B1 or lower are more
likely to default," Keisman says. "And the increased percentage of
issuers at B1 or below indicates that defaults could occur at a
quicker pace during the next default cycle than in 2009."

Of the 24 companies that left Moody's B3 Negative and Lower List in
the past three months, 50% had a bankruptcy or distressed exchange,
or missed an interest payment, while the ratings of 17% were
withdrawn and 33% were upgraded or their outlooks were revised
higher.

If companies continue to leave the B3 Negative and Lower list via
defaults and withdrawals rather than rating upgrades, it could
signal tough times ahead for speculative-grade issuers.

Despite some slight deterioration, Moody's proprietary indicators
of speculative-grade credit quality, including the Liquidity Stress
Index and Covenant Stress Index, continue to point to stable credit
conditions overall and support a default forecast of 3.08% in May
2016, up from 1.91% currently, but still below its long-term
average of 4.4%.

Moody's new report includes the full list of companies rated B3
negative and lower.



[^] Large Companies With Insolvent Balance Sheet
------------------------------------------------
                                               Total
                                              Share-      Total
                                   Total    Holders'    Working
                                  Assets      Equity    Capital
  Company         Ticker            ($MM)       ($MM)      ($MM)
  -------         ------          ------    --------    -------
ABSOLUTE SOFTWRE  ABT CN           111.9        (5.5)      (0.6)
ABSOLUTE SOFTWRE  ALSWF US         111.9        (5.5)      (0.6)
ABSOLUTE SOFTWRE  OU1 GR           111.9        (5.5)      (0.6)
AC SIMMONDS & SO  ACSX US            1.4        (0.4)      (1.5)
ACCRETIVE HEALTH  ACHI US          447.0      (170.5)     (44.8)
ADVANCED EMISSIO  ADES US          106.4       (46.1)     (15.3)
ADVANCED EMISSIO  OXQ1 GR          106.4       (46.1)     (15.3)
ADVENT SOFTWARE   ADVS US          424.8       (50.1)    (110.8)
ADVENT SOFTWARE   AXQ GR           424.8       (50.1)    (110.8)
AEROJET ROCKETDY  GCY GR         1,911.7      (126.4)     109.8
AEROJET ROCKETDY  AJRD US        1,911.7      (126.4)     109.8
AEROJET ROCKETDY  GCY TH         1,911.7      (126.4)     109.8
AIR CANADA        ACDVF US      11,581.0    (1,213.0)     (95.0)
AIR CANADA        AC CN         11,581.0    (1,213.0)     (95.0)
AIR CANADA        ADH2 GR       11,581.0    (1,213.0)     (95.0)
AIR CANADA        ADH2 TH       11,581.0    (1,213.0)     (95.0)
AIR CANADA        ACEUR EU      11,581.0    (1,213.0)     (95.0)
AK STEEL HLDG     AKS US         4,556.3      (392.9)     949.0
AK STEEL HLDG     AKS* MM        4,556.3      (392.9)     949.0
ALLIANCE HEALTHC  AIQ US           551.6       (88.9)      46.7
AMC NETWORKS-A    9AC GR         4,049.4       (89.4)     597.5
AMC NETWORKS-A    AMCX US        4,049.4       (89.4)     597.5
AMC NETWORKS-A    AMCX* MM       4,049.4       (89.4)     597.5
AMER RESTAUR-LP   ICTPU US          33.5        (4.0)      (6.2)
AMYLIN PHARMACEU  AMLN US        1,998.7       (42.4)     263.0
ANGIE'S LIST INC  8AL GR           178.8       (15.6)     (13.1)
ANGIE'S LIST INC  ANGI US          178.8       (15.6)     (13.1)
ARCADIA BIOSCIEN  17D GR            19.4        (7.3)       0.3
ARCADIA BIOSCIEN  RKDA US           19.4        (7.3)       0.3
ASPEN TECHNOLOGY  AZPN US          317.1       (26.8)     (17.4)
ASPEN TECHNOLOGY  AST GR           317.1       (26.8)     (17.4)
AUTOZONE INC      AZO US         8,032.4    (1,643.2)    (742.6)
AUTOZONE INC      AZOEUR EU      8,032.4    (1,643.2)    (742.6)
AUTOZONE INC      AZ5 TH         8,032.4    (1,643.2)    (742.6)
AUTOZONE INC      AZ5 GR         8,032.4    (1,643.2)    (742.6)
AVID TECHNOLOGY   AVD GR           182.0      (344.7)    (165.7)
AVID TECHNOLOGY   AVID US          182.0      (344.7)    (165.7)
AVINGER INC       AVGR US           23.1       (16.1)      13.3
AVINTIV SPECIALT  POLGA US       1,901.8       (12.6)     315.2
BARRACUDA NETWOR  CUDA US          400.4       (31.3)      36.9
BARRACUDA NETWOR  7BM GR           400.4       (31.3)      36.9
BARRACUDA NETWOR  CUDAEUR EU       400.4       (31.3)      36.9
BERRY PLASTICS G  BERY US        5,214.0       (73.0)     758.0
BERRY PLASTICS G  BP0 GR         5,214.0       (73.0)     758.0
BRINKER INTL      EAT US         1,437.3       (32.1)    (216.6)
BRINKER INTL      BKJ GR         1,437.3       (32.1)    (216.6)
BURLINGTON STORE  BURL US        2,683.1       (30.4)     161.9
BURLINGTON STORE  BURL* MM       2,683.1       (30.4)     161.9
BURLINGTON STORE  BUI GR         2,683.1       (30.4)     161.9
CABLEVISION SY-A  CVY GR         6,701.2    (5,022.6)      50.8
CABLEVISION SY-A  CVY TH         6,701.2    (5,022.6)      50.8
CABLEVISION SY-A  CVCEUR EU      6,701.2    (5,022.6)      50.8
CABLEVISION SY-A  CVC US         6,701.2    (5,022.6)      50.8
CABLEVISION-W/I   8441293Q US    6,701.2    (5,022.6)      50.8
CABLEVISION-W/I   CVC-W US       6,701.2    (5,022.6)      50.8
CADIZ INC         CDZI US           66.0       (44.1)     (22.9)
CAMBIUM LEARNING  ABCD US          154.9       (77.3)     (19.9)
CARBYLAN THERAPE  CBYL US            7.7        (9.4)      (6.7)
CASELLA WASTE     WA3 GR           654.4       (20.9)       4.9
CASELLA WASTE     CWST US          654.4       (20.9)       4.9
CEDAR FAIR LP     7CF GR         2,005.9       (21.2)     (74.4)
CEDAR FAIR LP     FUN US         2,005.9       (21.2)     (74.4)
CENTENNIAL COMM   CYCL US        1,480.9      (925.9)     (52.1)
CHOICE HOTELS     CZH GR           661.1      (413.5)     175.4
CHOICE HOTELS     CHH US           661.1      (413.5)     175.4
CINCINNATI BELL   CBB US         1,733.0      (599.6)      46.3
CINCINNATI BELL   CIB GR         1,733.0      (599.6)      46.3
CLEAR CHANNEL-A   CCO US         6,179.8      (255.3)     410.7
CLEAR CHANNEL-A   C7C GR         6,179.8      (255.3)     410.7
CLIFFS NATURAL R  CLF* MM        2,702.6    (1,782.1)     677.9
CLIFFS NATURAL R  CLF US         2,702.6    (1,782.1)     677.9
CODE REBEL CORP   CDRB US            0.5        (1.6)      (1.4)
COLLEGIUM PHARMA  COLL US            5.1       (12.2)      (5.9)
COMVERSE INC      CNSI US          577.9        (7.2)      59.9
COMVERSE INC      CM1 GR           577.9        (7.2)      59.9
CONNECTURE INC    2U7 GR            96.0       (33.2)     (24.9)
CONNECTURE INC    CNXR US           96.0       (33.2)     (24.9)
CORIUM INTERNATI  6CU GR            62.7        (0.4)      35.9
CORIUM INTERNATI  CORI US           62.7        (0.4)      35.9
CYAN INC          CYNI US          112.1       (18.4)      56.9
CYAN INC          YCN GR           112.1       (18.4)      56.9
DELEK LOGISTICS   DKL US           332.6       (20.6)      11.8
DELEK LOGISTICS   D6L GR           332.6       (20.6)      11.8
DIRECTV           DTV US        24,301.0    (4,280.0)     482.0
DIRECTV           DIG1 GR       24,301.0    (4,280.0)     482.0
DIRECTV           DTVEUR EU     24,301.0    (4,280.0)     482.0
DIRECTV           DTV CI        24,301.0    (4,280.0)     482.0
DOMINO'S PIZZA    EZV TH           637.0    (1,213.6)     170.7
DOMINO'S PIZZA    EZV GR           637.0    (1,213.6)     170.7
DOMINO'S PIZZA    DPZ US           637.0    (1,213.6)     170.7
DUN & BRADSTREET  DB5 GR         2,027.7    (1,201.3)    (276.7)
DUN & BRADSTREET  DNB1EUR EU     2,027.7    (1,201.3)    (276.7)
DUN & BRADSTREET  DB5 TH         2,027.7    (1,201.3)    (276.7)
DUN & BRADSTREET  DNB US         2,027.7    (1,201.3)    (276.7)
DUNKIN' BRANDS G  2DB TH         3,360.1       (84.9)     278.7
DUNKIN' BRANDS G  2DB GR         3,360.1       (84.9)     278.7
DUNKIN' BRANDS G  DNKN US        3,360.1       (84.9)     278.7
DURATA THERAPEUT  DTA GR            82.1       (16.1)      11.7
DURATA THERAPEUT  DRTXEUR EU        82.1       (16.1)      11.7
DURATA THERAPEUT  DRTX US           82.1       (16.1)      11.7
EDGEN GROUP INC   EDG US           883.8        (0.8)     409.2
EXELIXIS INC      EXELEUR EU       282.9      (146.8)      66.4
EXELIXIS INC      EX9 TH           282.9      (146.8)      66.4
EXELIXIS INC      EXEL US          282.9      (146.8)      66.4
EXELIXIS INC      EX9 GR           282.9      (146.8)      66.4
FENIX PARTS INC   9FP GR             0.9        (1.9)      (1.9)
FENIX PARTS INC   FENX US            0.9        (1.9)      (1.9)
FERRELLGAS-LP     FEG GR         1,592.9      (103.4)      23.7
FERRELLGAS-LP     FGP US         1,592.9      (103.4)      23.7
FREESCALE SEMICO  FSL US         3,096.0    (3,454.0)   1,174.0
FREESCALE SEMICO  1FS GR         3,096.0    (3,454.0)   1,174.0
FREESCALE SEMICO  1FS TH         3,096.0    (3,454.0)   1,174.0
FREESCALE SEMICO  FSLEUR EU      3,096.0    (3,454.0)   1,174.0
GAMING AND LEISU  2GL GR         2,552.5      (125.5)       1.1
GAMING AND LEISU  GLPI US        2,552.5      (125.5)       1.1
GARDA WRLD -CL A  GW CN          1,401.9      (325.2)      39.5
GARTNER INC       IT US          1,789.4      (139.5)    (420.1)
GARTNER INC       GGRA GR        1,789.4      (139.5)    (420.1)
GENESIS HEALTHCA  SH11 GR        6,031.4      (205.5)     209.3
GENESIS HEALTHCA  GEN US         6,031.4      (205.5)     209.3
GENTIVA HEALTH    GTIV US        1,225.2      (285.2)     130.0
GENTIVA HEALTH    GHT GR         1,225.2      (285.2)     130.0
GLAUKOS CORP      6GJ GR            28.3        (4.4)      (4.9)
GLAUKOS CORP      GKOS US           28.3        (4.4)      (4.9)
GLG PARTNERS INC  GLG US           400.0      (285.6)     156.9
GLG PARTNERS-UTS  GLG/U US         400.0      (285.6)     156.9
GOLD RESERVE INC  GRZ CN            17.9       (24.6)     (35.0)
GOLD RESERVE INC  GOD GR            17.9       (24.6)     (35.0)
GOLD RESERVE INC  GDRZF US          17.9       (24.6)     (35.0)
GRAHAM PACKAGING  GRM US         2,947.5      (520.8)     298.5
GREENSHIFT CORP   VD4B GR            1.3       (40.7)     (39.9)
GYMBOREE CORP/TH  GYMB US        1,206.6      (352.8)      30.7
HCA HOLDINGS INC  2BH TH        31,288.0    (6,222.0)   1,958.0
HCA HOLDINGS INC  HCAEUR EU     31,288.0    (6,222.0)   1,958.0
HCA HOLDINGS INC  HCA US        31,288.0    (6,222.0)   1,958.0
HCA HOLDINGS INC  2BH GR        31,288.0    (6,222.0)   1,958.0
HD SUPPLY HOLDIN  HDS US         6,321.0      (498.0)   1,400.0
HD SUPPLY HOLDIN  5HD GR         6,321.0      (498.0)   1,400.0
HERBALIFE LTD     HLF US         2,388.9      (301.2)     259.3
HERBALIFE LTD     HOO QT         2,388.9      (301.2)     259.3
HERBALIFE LTD     HLFEUR EU      2,388.9      (301.2)     259.3
HERBALIFE LTD     HOO GR         2,388.9      (301.2)     259.3
HOVNANIAN-A-WI    HOV-W US       2,517.0      (146.3)   1,516.6
HUGHES TELEMATIC  HUTCU US         110.2      (101.6)    (113.8)
IEG HOLDINGS COR  IEGHD US           -          (3.8)      (0.6)
IHEARTMEDIA INC   IHRT US       13,581.9   (10,153.7)     683.9
INCYTE CORP       INCY US          862.6       (41.4)     466.6
INCYTE CORP       INCYEUR EU       862.6       (41.4)     466.6
INCYTE CORP       ICY GR           862.6       (41.4)     466.6
INCYTE CORP       ICY TH           862.6       (41.4)     466.6
INFOR US INC      LWSN US        6,778.1      (460.0)    (305.9)
INVENTIV HEALTH   VTIV US        2,154.4      (613.8)      84.5
IPCS INC          IPCS US          559.2       (33.0)      72.1
ISTA PHARMACEUTI  ISTA US          124.7       (64.8)       2.2
JUST ENERGY GROU  1JE GR         1,297.2      (638.8)     (87.0)
JUST ENERGY GROU  JE US          1,297.2      (638.8)     (87.0)
JUST ENERGY GROU  JE CN          1,297.2      (638.8)     (87.0)
KEMPHARM INC      KMPH US           14.1       (26.1)       6.3
KEMPHARM INC      1GD GR            14.1       (26.1)       6.3
L BRANDS INC      LB* MM         6,638.0      (606.0)     927.0
L BRANDS INC      LBEUR EU       6,638.0      (606.0)     927.0
L BRANDS INC      LTD GR         6,638.0      (606.0)     927.0
L BRANDS INC      LTD TH         6,638.0      (606.0)     927.0
L BRANDS INC      LB US          6,638.0      (606.0)     927.0
L BRANDS INC      LTD QT         6,638.0      (606.0)     927.0
LANTHEUS HOLDING  0L8 GR           248.7      (240.5)      37.4
LANTHEUS HOLDING  LNTH US          248.7      (240.5)      37.4
LEAP WIRELESS     LWI TH         4,662.9      (125.1)     346.9
LEAP WIRELESS     LWI GR         4,662.9      (125.1)     346.9
LEAP WIRELESS     LEAP US        4,662.9      (125.1)     346.9
LEE ENTERPRISES   LEE US           779.6      (165.1)     (20.2)
LENNOX INTL INC   LXI GR         1,879.5       (16.2)     369.8
LENNOX INTL INC   LII US         1,879.5       (16.2)     369.8
LORILLARD INC     LLV TH         4,154.0    (2,134.0)   1,135.0
LORILLARD INC     LO US          4,154.0    (2,134.0)   1,135.0
LORILLARD INC     LLV GR         4,154.0    (2,134.0)   1,135.0
MAJESCOR RESOURC  MJXEUR EU          0.1        (3.2)      (3.2)
MANNKIND CORP     MNKDEUR EU       360.0       (97.0)    (222.5)
MANNKIND CORP     MNKD US          360.0       (97.0)    (222.5)
MANNKIND CORP     NNF1 GR          360.0       (97.0)    (222.5)
MANNKIND CORP     NNF1 TH          360.0       (97.0)    (222.5)
MARRIOTT INTL-A   MAR US         6,803.0    (2,537.0)  (1,202.0)
MARRIOTT INTL-A   MAQ TH         6,803.0    (2,537.0)  (1,202.0)
MARRIOTT INTL-A   MAQ GR         6,803.0    (2,537.0)  (1,202.0)
MARRIOTT INTL-A   MAQ QT         6,803.0    (2,537.0)  (1,202.0)
MDC COMM-W/I      MDZ/W CN       1,640.1      (196.6)    (284.0)
MDC PARTNERS-A    MDCA US        1,640.1      (196.6)    (284.0)
MDC PARTNERS-A    MDZ/A CN       1,640.1      (196.6)    (284.0)
MDC PARTNERS-A    MD7A GR        1,640.1      (196.6)    (284.0)
MDC PARTNERS-EXC  MDZ/N CN       1,640.1      (196.6)    (284.0)
MERITOR INC       AID1 GR        2,317.0      (570.0)     268.0
MERITOR INC       MTOR US        2,317.0      (570.0)     268.0
MERRIMACK PHARMA  MP6 GR           127.0      (128.8)      (4.4)
MERRIMACK PHARMA  MACK US          127.0      (128.8)      (4.4)
MICHAELS COS INC  MIM GR         1,922.7    (2,031.3)     471.7
MICHAELS COS INC  MIK US         1,922.7    (2,031.3)     471.7
MONEYGRAM INTERN  MGI US         4,578.9      (261.8)     (45.4)
MOODY'S CORP      DUT GR         4,976.0      (146.2)   1,901.1
MOODY'S CORP      DUT TH         4,976.0      (146.2)   1,901.1
MOODY'S CORP      MCO US         4,976.0      (146.2)   1,901.1
MOODY'S CORP      DUT QT         4,976.0      (146.2)   1,901.1
MOODY'S CORP      MCOEUR EU      4,976.0      (146.2)   1,901.1
MORGANS HOTEL GR  M1U GR           532.4      (246.2)      31.0
MORGANS HOTEL GR  MHGC US          532.4      (246.2)      31.0
MOXIAN CHINA INC  MOXC US            9.5        (6.4)     (13.7)
MPG OFFICE TRUST  1052394D US    1,280.0      (437.3)       -
NATHANS FAMOUS    NATH US           84.7       (59.9)      61.6
NATIONAL CINEMED  XWM GR           985.6      (219.8)      63.5
NATIONAL CINEMED  NCMI US          985.6      (219.8)      63.5
NAVISTAR INTL     IHR TH         6,925.0    (4,744.0)     770.0
NAVISTAR INTL     NAV US         6,925.0    (4,744.0)     770.0
NAVISTAR INTL     IHR GR         6,925.0    (4,744.0)     770.0
NEFF CORP-CL A    NEFF US          634.4      (202.7)     (12.8)
NEW ENG RLTY-LP   NEN US           175.7       (29.1)       -
NII HOLDINGS INC  NIHD US        4,897.0    (2,504.0)     (68.7)
NORTHWEST BIO     NWBO US           49.4       (70.7)     (86.3)
NORTHWEST BIO     NBYA GR           49.4       (70.7)     (86.3)
OCATA THERAPEUTI  T2N1 GR            4.9        (2.1)      (0.3)
OCATA THERAPEUTI  OCAT US            4.9        (2.1)      (0.3)
OMTHERA PHARMACE  OMTH US           18.3        (8.5)     (12.0)
PALM INC          PALM US        1,007.2        (6.2)     141.7
PBF LOGISTICS LP  PBFX US          402.3      (112.0)      30.1
PBF LOGISTICS LP  11P GR           402.3      (112.0)      30.1
PHILIP MORRIS IN  PMI SW        33,255.0   (12,246.0)    (705.0)
PHILIP MORRIS IN  PM1CHF EU     33,255.0   (12,246.0)    (705.0)
PHILIP MORRIS IN  4I1 QT        33,255.0   (12,246.0)    (705.0)
PHILIP MORRIS IN  PM US         33,255.0   (12,246.0)    (705.0)
PHILIP MORRIS IN  PM1EUR EU     33,255.0   (12,246.0)    (705.0)
PHILIP MORRIS IN  PM FP         33,255.0   (12,246.0)    (705.0)
PHILIP MORRIS IN  PM1 TE        33,255.0   (12,246.0)    (705.0)
PHILIP MORRIS IN  4I1 TH        33,255.0   (12,246.0)    (705.0)
PHILIP MORRIS IN  4I1 GR        33,255.0   (12,246.0)    (705.0)
PLAYBOY ENTERP-A  PLA/A US         165.8       (54.4)     (16.9)
PLAYBOY ENTERP-B  PLA US           165.8       (54.4)     (16.9)
PLY GEM HOLDINGS  PGEM US        1,231.9      (150.1)     241.4
PLY GEM HOLDINGS  PG6 GR         1,231.9      (150.1)     241.4
POLYMER GROUP-B   POLGB US       1,901.8       (12.6)     315.2
PROTALEX INC      PRTX US            0.6       (11.5)       0.0
PROTECTION ONE    PONE US          562.9       (61.8)      (7.6)
PURETECH HEALTH   PRTC LN            -           -          -
PURETECH HEALTH   PRTCGBX EU         -           -          -
QUALITY DISTRIBU  QLTY US          417.9       (26.9)     110.6
QUALITY DISTRIBU  QDZ GR           417.9       (26.9)     110.6
QUINTILES TRANSN  QTS GR         3,236.7      (612.3)     778.1
QUINTILES TRANSN  Q US           3,236.7      (612.3)     778.1
RAYONIER ADV      RYQ GR         1,281.8       (52.6)     179.2
RAYONIER ADV      RYAM US        1,281.8       (52.6)     179.2
RE/MAX HOLDINGS   RMAX US          362.5        (0.2)      41.0
RE/MAX HOLDINGS   2RM GR           362.5        (0.2)      41.0
REGAL ENTERTAI-A  RETA GR        2,484.4      (911.5)    (118.6)
REGAL ENTERTAI-A  RGC* MM        2,484.4      (911.5)    (118.6)
REGAL ENTERTAI-A  RGC US         2,484.4      (911.5)    (118.6)
RENAISSANCE LEA   RLRN US           57.0       (28.2)     (31.4)
RENTPATH INC      PRM US           208.0       (91.7)       3.6
REVLON INC-A      REV US         1,873.7      (658.9)     315.1
REVLON INC-A      RVL1 GR        1,873.7      (658.9)     315.1
ROUNDY'S INC      RNDY US        1,112.5       (87.0)      80.0
RURAL/METRO CORP  RURL US          303.7       (92.1)      72.4
RYERSON HOLDING   RYI US         1,903.2      (135.0)     706.3
RYERSON HOLDING   7RY GR         1,903.2      (135.0)     706.3
SALLY BEAUTY HOL  S7V GR         2,134.9      (261.0)     766.9
SALLY BEAUTY HOL  SBH US         2,134.9      (261.0)     766.9
SBA COMM CORP-A   SBAC US        7,527.3    (1,036.8)      38.5
SBA COMM CORP-A   SBACEUR EU     7,527.3    (1,036.8)      38.5
SBA COMM CORP-A   SBJ GR         7,527.3    (1,036.8)      38.5
SBA COMM CORP-A   SBJ TH         7,527.3    (1,036.8)      38.5
SCIENTIFIC GAM-A  SGMS US        9,703.4      (189.4)     686.9
SCIENTIFIC GAM-A  TJW GR         9,703.4      (189.4)     686.9
SEARS HOLDINGS    SHLD US       13,290.0    (1,182.0)      24.0
SEARS HOLDINGS    SEE QT        13,290.0    (1,182.0)      24.0
SEARS HOLDINGS    SEE GR        13,290.0    (1,182.0)      24.0
SEARS HOLDINGS    SEE TH        13,290.0    (1,182.0)      24.0
SILVER SPRING NE  9SI GR           528.2       (94.3)     (10.2)
SILVER SPRING NE  9SI TH           528.2       (94.3)     (10.2)
SILVER SPRING NE  SSNI US          528.2       (94.3)     (10.2)
SIRIUS XM CANADA  XSR CN           298.2      (128.5)    (173.7)
SIRIUS XM CANADA  SIICF US         298.2      (128.5)    (173.7)
SPORTSMAN'S WARE  SPWH US          305.8       (32.8)      77.8
SPORTSMAN'S WARE  06S GR           305.8       (32.8)      77.8
STINGRAY - SUB V  RAY/A CN         128.2       (17.8)     (41.0)
STINGRAY DIG-VSV  RAY/B CN         128.2       (17.8)     (41.0)
SUPERVALU INC     SJ1 GR         4,485.0      (636.0)     167.0
SUPERVALU INC     SVU US         4,485.0      (636.0)     167.0
SUPERVALU INC     SJ1 TH         4,485.0      (636.0)     167.0
SYNERGY PHARMACE  SGYP US          194.8       (24.7)     163.1
SYNERGY PHARMACE  S90 GR           194.8       (24.7)     163.1
SYNERGY PHARMACE  SGYPEUR EU       194.8       (24.7)     163.1
SYNTHETIC BIOLOG  SYN US            13.7        (1.6)      (1.7)
THERAVANCE        THRX US          488.7      (260.1)     251.4
THERAVANCE        HVE GR           488.7      (260.1)     251.4
THRESHOLD PHARMA  NZW1 GR           88.0       (19.9)      53.1
THRESHOLD PHARMA  THLD US           88.0       (19.9)      53.1
TRANSDIGM GROUP   T7D GR         7,226.2    (1,326.2)     853.8
TRANSDIGM GROUP   TDG US         7,226.2    (1,326.2)     853.8
TRINET GROUP INC  TN3 TH         1,620.2       (15.1)      15.2
TRINET GROUP INC  TN3 GR         1,620.2       (15.1)      15.2
TRINET GROUP INC  TNET US        1,620.2       (15.1)      15.2
TRINET GROUP INC  TNETEUR EU     1,620.2       (15.1)      15.2
UNISYS CORP       USY1 TH        2,131.5    (1,421.3)     242.8
UNISYS CORP       UIS US         2,131.5    (1,421.3)     242.8
UNISYS CORP       UISEUR EU      2,131.5    (1,421.3)     242.8
UNISYS CORP       UIS1 SW        2,131.5    (1,421.3)     242.8
UNISYS CORP       UISCHF EU      2,131.5    (1,421.3)     242.8
UNISYS CORP       USY1 GR        2,131.5    (1,421.3)     242.8
VENOCO INC        VQ US            596.0       (31.1)      52.2
VERISIGN INC      VRS GR         2,607.7      (947.9)      17.8
VERISIGN INC      VRSN US        2,607.7      (947.9)      17.8
VERISIGN INC      VRS TH         2,607.7      (947.9)      17.8
VERIZON TELEMATI  HUTC US          110.2      (101.6)    (113.8)
VERSEON CORP      VSN LN             -           -          -
VIRGIN MOBILE-A   VM US            307.4      (244.2)    (138.3)
WEIGHT WATCHERS   WW6 GR         1,446.4    (1,385.2)    (260.9)
WEIGHT WATCHERS   WW6 TH         1,446.4    (1,385.2)    (260.9)
WEIGHT WATCHERS   WTWEUR EU      1,446.4    (1,385.2)    (260.9)
WEIGHT WATCHERS   WTW US         1,446.4    (1,385.2)    (260.9)
WEST CORP         WSTC US        3,546.2      (647.7)     247.3
WEST CORP         WT2 GR         3,546.2      (647.7)     247.3
WESTERN REFINING  WR2 GR           434.0       (27.4)      71.5
WESTERN REFINING  WNRL US          434.0       (27.4)      71.5
WESTMORELAND COA  WLB US         1,829.7      (388.7)      59.0
WESTMORELAND COA  WME GR         1,829.7      (388.7)      59.0
WINGSTOP INC      EWG GR           114.1       (54.0)      (4.6)
WINGSTOP INC      WING US          114.1       (54.0)      (4.6)
WYNN RESORTS LTD  WYNN* MM       9,151.7      (147.2)   1,135.3
WYNN RESORTS LTD  WYR GR         9,151.7      (147.2)   1,135.3
WYNN RESORTS LTD  WYNN US        9,151.7      (147.2)   1,135.3
WYNN RESORTS LTD  WYR TH         9,151.7      (147.2)   1,135.3
WYNN RESORTS LTD  WYNN SW        9,151.7      (147.2)   1,135.3
WYNN RESORTS LTD  WYNNCHF EU     9,151.7      (147.2)   1,135.3
XACTLY CORP       XTLY US           52.7       (25.4)      (6.8)
XACTLY CORP       XT4Y GR           52.7       (25.4)      (6.8)
XERIUM TECHNOLOG  XRM US           561.0      (102.9)      81.5
XERIUM TECHNOLOG  TXRN GR          561.0      (102.9)      81.5
XOMA CORP         XOMA US           78.1       (13.4)      46.2
XOMA CORP         XOMA TH           78.1       (13.4)      46.2
XOMA CORP         XOMA GR           78.1       (13.4)      46.2
YRC WORLDWIDE IN  YRCW US        1,966.2      (479.7)     148.7
YRC WORLDWIDE IN  YEL1 GR        1,966.2      (479.7)     148.7
YRC WORLDWIDE IN  YEL1 TH        1,966.2      (479.7)     148.7


                            *********

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 ***