TCR_Public/150715.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, July 15, 2015, Vol. 19, No. 196

                            Headlines

ACCIPITER COMMUNICATIONS: Continued Cash Use Hearing on July 29
ALLEGHENY COUNTY: S&P Revises Outlook to Neg. & Affirms BB+ Rating
AM PYROTECHNICS: Cleared to Leave Bankruptcy
ANNA'S LINEN: Meeting of Creditors Set for Aug. 7
ARAMID ENTERTAINMENT: Seeks Oct. 23 Extension of Plan Filing Date

ARIANA PROPERTIES: Case Summary & 3 Largest Unsecured Creditors
ASARCO LLC: Dismissal of Contribution Suit v. Celanese Affirmed
AUDATEX NORTH: Moody's Lowers CFR to 'B1' & Rates New Notes 'B1'
B&G FOODS: Moody's Retains 'Ba3' CFR Over Spartan Foods Deal
BANKERS' BANCORPORATION: Readies August Auction

BANNING LEWIS: Denied Partial Summary in Suit vs. Colorado Springs
BON-TON STORES: Brigade Capital Reports 14.7% Stake as of July 10
BUILDERS FIRSTSOURCE: Moody's Confirms 'B3' CFR, Outlook Stable
BUILDERS FIRSTSOURCE: S&P Raises CCR to 'B+', Outlook Stable
BURLINGTON COAT: Moody's Raises CFR to Ba3, Outlook Positive

CACHE INC: Exclusive Plan Filing Date Extended to Oct. 2
COCO BEACH GOLF: Voluntary Chapter 11 Case Summary
CORINTHIAN COLLEGES: Student Committee Reaches Debt Relief Deal
CORPORATE OFFICE: Fitch Affirms 'BB' Preferred Stock Rating
COUTURE HOTEL: Seeks Extension of Plan Filing Date to Aug. 5

COUTURE HOTEL: Seeks to Pay $18K to Counsel
CURTIS JAMES JACKSON: 50 Cent Files for Bankruptcy
DEMCO INC: Meeting of Creditors Adjourned to Sept. 21
DEWEY & LEBOEUF: Finance Director Testifies on CFO's Actions
DORAL FINANCIAL: Gets More Time to Remove Suits

DORAL FINANCIAL: Needs Until Oct. 7 to Decide on Leases
DORAL FINANCIAL: Seeks Oct. 7 Extension of Plan Filing Date
EAGLEVIEW TECHNOLOGY: Moody's Gives B3 CFR, Rates 1st Lien Loans B2
EAGLEVIEW TECHNOLOGY: S&P Assigns Prelim. 'B' CCR, Outlook Stable
ERG INTERMEDIATE: AP Services' Rebecca Roof Approved as CRO

ERG INTERMEDIATE: Court Sets Claims Bar Dates
ERG INTERMEDIATE: Pachulski Stang Okayed as Panel's Lead Counsel
ERG INTERMEDIATE: Searcy & Searcy OK'd as Committee's Local Counsel
EXTERRAN CORP: S&P Assigns BB- Corp. Credit Rating, Outlook Stable
EXTERRAN ENERGY: Moody's Rates $400MM Sr. Unsecured Notes 'B1'

F&H ACQUISITION: Judge Extends Deadline to Remove Suits to Sept. 8
FANNIE MAE & FREDDIE MAC: Updated Conservatorship Litigation Chart
FIVE S PLUS: US Trustee Unable to Form Creditors' Committee
FRED FULLER: July 15 Filing of Disclosure Statement and Plan
GARY P. ELIOPOULOS: Bankr. Court Dismisses PAH Co.'s Suit

GENERAL MOTORS: Stock Falls, Risk and Vulnerability Rise
GFI GROUP: Fitch Hikes Senior Unsecured Debt Rating From 'BB+'
GFI GROUP: S&P Raises Issuer Credit & Debt Ratings From 'BB+'
GIGAMEDIA LIMITED: Gets Grace Period for Nasdaq Listing Compliance
GRAND CENTRAL FUNDING: Case Summary & Largest Unsecured Creditor

GREEKTOWN HOLDINGS: Dist. Ct. Reverses Ruling Over Tribe Immunity
HERCULES OFFSHORE: Begins Solicitation of Votes for Prepack Plan
HERCULES OFFSHORE: Soliciting Votes for Prepackaged Reorg. Plan
HEWETT'S ISLAND I-R: Moody's Affirms Ba3 Rating on Class E Notes
HOTI ENTERPRISES: 2nd Circ. Affirms $256K Damages Award

IMRIS INC: Meeting of Creditors Set for July 15
IPC INTERNATIONAL: Court Confirms Ch. 11 Plan of Liquidation
J.F MOORE: Files Notice of Proposal Under Bankruptcy
JTS LLC: Has Until July 13 to File Schedules and Statements
JW RESOURCES: Has Until July 15 to File Schedules

JW RESOURCES: Seeks to Obtain $2M DIP Loan from GB Finance
KENAN ADVANTAGE: Moody's Assigns 'B1' CFR, Outlook Negative
KENTUCKY LEAGUE: Moody's Lowers Rating on $3.1MM Debt to 'Ba1'
KEYSTONE MINE: Ch. 7 Trustee Wins Authority to Sell Assets to BMC
LARICINA ENERGY: Enters Into Settlement Term Sheet With CPPIB

LARICINA ENERGY: To Close Pilot Oilsands Project to Save Cash
LEARNING TREE: Shares to Be Delisted From NASDAQ Global Market
LEHMAN BROTHERS: Aims to Return $1.89B More to Brokerage Creditors
LEHMAN BROTHERS: Creditors Balk at Bid to Estimate European Claims
LEHMAN BROTHERS: SIPC Praises Trustee's Interim Distribution Plan

LEHMAN BROTHERS: Trustee Plans Add'l $1.9 Billion Distribution
MARKWEST ENERGY: Moody's Puts 'Ba2' CFR on Review for Upgrade
MARKWEST ENERGY: S&P Puts 'BB' CCR on CreditWatch Positive
MATTRESS FIRM: Moody's Raises CFR to 'B1', Outlook Stable
MIG LLC: Authorized to Access Cash Collateral of Secured Lenders

MISSISSIPPI PHOSPHATES: Pleads Guilty to Fertilizer Spill
MISSISSIPPI PHOSPHATES: Seeks Approval of Settlement Agreement
MOLYCORP INC: Has Interim Approval of Equity Trading Protocol
MOLYCORP INC: Has Interim OK to Pay $3M to Essential Suppliers
MOLYCORP INC: Meeting of Creditors Set for Aug. 13

MOLYCORP INC: Prepetition Lender Seeks Addn'l Adequate Protection
MOLYCORP INC: U.S. Trustee Forms Seven-Member Creditors Committee
MONTREAL MAINE: Canadian Pacific's Settlement Challenge Rejected
NET DATA: Given Until Oct. 21 to File Plan
NEW LOUISIANA: Hearing on Palm Terrace Asset Sale Is on July 28

NEW YORK CITY OPERA: Board Withdraws Plan to Sell Name
NEW YORK MILITARY: ALG Seeks to Pursue State Court Suit
NEW YORK MILITARY: Lender Seeks to Pursue Foreclosure Suit
NORTH AMERICAN TUNGSTEN: Court Approves Callidus Financing Deal
ONE SOURCE: Can Pay Adequate Protection to RBS Citizens Bank

ONE SOURCE: Seeks Approval of Insurance Premium Finance Agreement
ONE SOURCE: To Make Monthly Payments to JPM for Vehicle Use
OXANE MATERIALS: Amends List of 20 Largest Unsecured Creditors
OXANE MATERIALS: Files Schedules of Assets and Liabilities
OXANE MATERIALS: Has Final Authority to Use Cash Collateral

PASTAZIOS PIZZA: Owner Files Chapter 11 Bankruptcy Petition
PLZ AEROSCIENCE: S&P Assigns 'B' Proposed Secured Debt Rating
PROSPECT SQUARE: Proposes to Sell Ohio Shopping Center for $12.2MM
PROSPECT SQUARE: U.S. Trustee Seeks Dismissal of Ch. 11 Cases
RADIOSHACK CORP: Asks Judge to Toss Gift-Card Suit

REMY INTERNATIONAL: S&P Puts 'BB-' CCR on CreditWatch Positive
RESIDENTIAL CAPITAL: Objection to Claim No. 4091 Sustained
RIENZI & SONS: Alma Bank Balks at Bid to Extend Exclusive Periods
RYAN LLC: S&P Assigns 'B' CCR & Rates $300MM Facility 'B'
SALADWORKS LLC: SSG Advises Sale of Assets to Centre Lane

SANTA CRUZ BERRY: US Trustee Appoints One More Committee Member
SIMPLY FASHION: Has Court OK to Sell Alabama FF&E, Automobiles
SIMPLY FASHION: Has Court OK to Sell Real Property Leases
SITEL LLC: Moody's Puts 'Caa1' CFR on Review for Upgrade
SLIGO PARKWAY: Case Summary & 6 Largest Unsecured Creditors

SOLERA HOLDINGS: S&P Revises Outlook to Neg. & Affirms 'BB-' CCR
SPECTRUM ANALYTICAL: Aug. 10 Fixed as Proofs of Claims Bar Date
SPECTRUM ANALYTICAL: Trustee Can Use Cash Collateral Until July 22
SRP PLAZA: Court Okayed Jeffrey S. Susa as Responsible Person
SRP PLAZA: Court OKs Stipulation on Use of Cash Until July 31

STANDARD REGISTER: Deadline to Remove Suits Extended to Sept. 8
STANDARD REGISTER: Hearing on Suit Against Former Workers Is Today
THOMAS R. WRIGHT: Bid to Extend Automatic Stay Denied
THORNBURG MORTGAGE: Bid to Withdraw Bankr. Court Reference Denied
TLC HEALTH: Meeting of Creditors Adjourned to Aug. 17

UNITED PROSPERITY: Case Summary & 20 Largest Unsecured Creditors
UNIVERSAL COOPERATIVES: Seeks Approval of Plan Settlement with PBGC
UNIVERSAL HEALTH: Bids for Withdrawal of Reference Denied
UNIVERSITY GENERAL: Has Final Okay to Obtain Financing From MidCap
XINERGY CORP: Jon Nix's Limited Objections to DIP Loan Denied

XINERGY CORP: McGuireWoods Okayed as Lead Counsel to the Committee
YELLOWSTONE MOUNTAIN: Jailed Founder Files New Release Request
[*] Financial Software, Signature Bank Offer Trustee Services
[*] Wilber Ross's IAC Names Robert Miller as CEO

                            *********

ACCIPITER COMMUNICATIONS: Continued Cash Use Hearing on July 29
---------------------------------------------------------------
Judge George B. Nielsen of the United States Bankruptcy Court for
the District of Arizona will convene a hearing on July 29, 2015, to
consider Accipiter Communications, Inc.'s continued use of cash
collateral and approval of the disclosure statement explaining its
plan.

Judge Nielsen approved a sixth stipulated order authorizing the
Debtor to use cash collateral until the earlier to occur of (i)
October 1, 2015, unless that date is extended in writing by the
Debtor and the Prepetition Lender and (ii) an Event of Default.

The Debtor is represented by:

         Jordan A. Kroop, Esq.
         Bradley A. Cosman, Esq.
         Kirstin Eidenbach, Esq.
         PERKINS COIE LLP
         2901 N. Central Avenue, Suite 2000
         Phoenix, AZ 85012
         Tel: 602 351-8000
         Fax: 602 648-7076
         Email: jkroop@perkinscoie.com
                bcosman@perkinscoie.com

The Official Committee of Unsecured Creditors is represented by:

         Alisa C. Lacey, Esq.
         Christopher C. Simpson, Esq.
         STINSON LEONARD STREET LLP
         1850 N. Central Avenue, Suite 2100
         Phoenix, AZ 85004
         Tel: 602 279-1600
         Email: alias.lacey@stinsonleonard.com
                Christopher.simpson@stinsonleonard.com

The United States of America is represented by:

         Ruth A. Harvey, Esq.
         Lloyd H. Randolph, Esq.
         Jessica S. Wang, Esq.
         United States Department of Justice
         Commercial Litigation Branch
         P.O. Box 875
         Ben Franklin Station
         Washington, DC 20044
         Tel: (202) 307-0356
         Fax: (202) 514-9163
         Email: jessica.s.wang@usdoj.gov

         About Accipiter Communications

Accipiter Communications, Inc., a Phoenix-based company that
provides telecommunications services to unserved or underserved,
mostly rurally-situated residences and businesses in central
Arizona, filed a Chapter 11 bankruptcy petition (Bankr. D. Ariz.
Case No. 14-04372) in its hometown on March 28, 2014.

Accipiter provides telecommunications services to 1,409 residential
subscribers and 231 business subscribers, including an elementary
school, an enforcement agency, a fire station, two municipal water
supply facilities, and a bank.

The Debtor is able to provide telecommunications services to rural
customers only by participating in two federal programs: revenue
subsidies from the federal Universal Service Fund, which is
administered under the authority of the Federal Communications
Commission, and capital debt financing provided under a rural
telecommunications loan program administered by the Rural Utilities
Service, an agency of the U.S. Department of Agriculture.

As of the Petition Date, the Debtor owed $20.8 million in aggregate
principal to the RUS.  The Debtor believes there is approximately
$414,000 in prepetition general unsecured claims held by trade
vendors or other parties against the Debtor.  The Debtor is a
privately held company, with 55.4% of the stock held by Lewis van
Amerongen.  In its schedules, the Debtor listed $31.3 million in
assets and $21.6 million in liabilities.

The bankruptcy case is assigned to Judge George B. Nielsen Jr.

The Debtor has tapped Perkins Coie LLP as counsel.

Ilene J. Lashinsky, U.S. Trustee for Region 14, appointed these
three creditors to serve in the Official Committee of Unsecured
Creditors.  The Committee retained Stinson Leonard Street LLP as
counsel.

The Debtor filed its proposed Plan of Reorganization on Aug. 27,
2014.


ALLEGHENY COUNTY: S&P Revises Outlook to Neg. & Affirms BB+ Rating
------------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to negative
from stable and affirmed its 'BB+' long-term rating on Allegheny
County Industrial Development Authority, Pa.'s series 2013 charter
school revenue bonds, issued on behalf of School Facilities
Development Inc. (SFD) for Propel Schools – Braddock Hills.

"The negative outlook reflects the risk associated with operating
under a charter that expired on June 30, and the uncertainty
regarding renewal," said Standard & Poor's credit analyst Stephanie
Wang.

"It is our understanding that while the school submitted paperwork
for the renewal in July 2014, the local school district and
authorizer, Woodland Hills, has not taken any action.  While the
charter remains in force until the authorizer gives a clear
indication of revocation or nonrenewal according to Pennsylvania
State Charter Law, we believe debt service on the bonds could face
pressure should the charter be revoked or not renewed.  We
understand that the school may appeal to the State Charter Appeal
Board if its charter is not renewed.  The school would remain open
during that time, although we believe the appeal process would be
lengthy.  The school went through the appeal process with the
original charter application which was denied by Woodland Hills in
2009, but approved by the state appeal board in July 2010," S&P
noted.

The 'BB+' rating is based on S&P's view of Braddock Hills' group
credit profile (GCP) and the obligated group's strategically
important status.  Accordingly, S&P rates the bonds one notch below
the GCP ('bbb-') of parent Propel Charter Schools due to credit
weaknesses, which include weak academic performance and a weak cash
position.  The bonds are secured by lease payments made by Propel
Braddock Hills directly to a trustee.  Standard & Poor's analysis
reflects only the obligation of Propel Braddock Hills rather than
the parent, Propel Charter Schools.



AM PYROTECHNICS: Cleared to Leave Bankruptcy
--------------------------------------------
Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
reported that a Missouri bankruptcy judge cleared AM Pyrotechnics
LLC, which makes and choreographs fireworks displays, to get out of
bankruptcy protection with a plan to repay some of its debt over
five years.

According to the DBR, on July 9, Judge Arthur Federman of the U.S.
Bankruptcy Court in Springfield, Ill., signed off on AM
Pyrotechnics' reorganization plan, which said it plans to use
future profit to make quarterly payments to unsecured creditors who
will be repaid 35.5% of their claims.

Buffalo, Missouri-based AM Pyrotechnics, LLC, aka National
Fireworks Importing, LLC, fdba AM Pyrotechnics Displays, LLC, fdba
AM Fireworks, LLC, sought protection under Chapter 11 of the
Bankruptcy Code on July 21, 2014 (Bankr. W.D. Mo., Case No.
14-60959).  The case is assigned to Judge Arthur B. Federman.  The
Debtor's counsel is Raymond I. Plaster, Esq., at Raymond I.
Plaster, PC, in Springfield, Missouri.


ANNA'S LINEN: Meeting of Creditors Set for Aug. 7
-------------------------------------------------
The meeting of creditors of Anna's Linens Inc. is set to be held on
Aug. 7, 2015, at 10:00 a.m. (Pacific Time), according to a filing
with the U.S. Bankruptcy Court for the Central District of
California.

The meeting will be held at the Ronald Reagan Federal Building and
U.S. Courthouse, Room 1-154, 411 West Fourth Street, in Santa Ana,
California.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                       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.


ARAMID ENTERTAINMENT: Seeks Oct. 23 Extension of Plan Filing Date
-----------------------------------------------------------------
Aramid Entertainment Fund Limited and its affiliated debtors ask
the U.S. Bankruptcy Court for the Southern District of New York to
extend the period by which they have exclusive right to file a plan
of reorganization up to October 23, 2015, and the period by which
they have exclusive right to solicit acceptances of that plan up to
January 4, 2016.

James C. McCarroll, Esq., at Reed Smith LLP, in New York, tells the
Court that the Debtors seek an extension of the Exclusive Periods
to allow them to work towards proposing a consensual, confirmable
plan and proceeding towards confirmation as quickly and efficiently
as possible.

The Debtors are represented by:

          James C. McCarroll, Esq.
          Jordan W. Siev, Esq.
          Kurt F. Gwynne, Esq.
          REED SMITH LLP
          599 Lexington Avenue
          New York, NY 10022-7650
          Telephone: (212)521-5400
          Facsimile: (212)521-5450
          Email: jmccarroll@reedsmith.com
                 jsiev@reedsmith.com

                 About Aramid Entertainment

Aramid Entertainment Fund Limited has been engaged in the business

of providing short and medium term liquidity to producers and

distributors of film, television and other media and
entertainment
 content by way of loans and equity
investments.



On May 7, 2014, Geoffrey Varga and Jess Shakespeare of Kinetic

Partners (Cayman) Limited were appointed under Cayman law as
the
joint voluntary liquidators ("JVLs") of AEF and two
affiliates.



On June 13, 2014, the JVLs authorized AEF and two affiliates
to
file for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y.
Lead
Case No. 14-11802) in Manhattan on June 13, 2014.



The Debtors have tapped James C. McCarroll, Esq., Jordan W.
Siev,
Esq., Richard A. Robinson, Esq., and Michael J. Venditto,
Esq. of
 Reed Smith, LLP, in New York, as counsel and Kinetic
Partners
(Cayman) Limited as crisis managers.



AEF estimated at least $100 million in assets and between
 $10
million to $50 million in liabilities.




ARIANA PROPERTIES: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Ariana Properties, LLC
        8245 Bayberry Road
        Jacksonville, FL 32225

Case No.: 15-03146

Chapter 11 Petition Date: July 13, 2015

Court: United States Bankruptcy Court
       Middle District of Florida (Jacksonville)

Debtor's Counsel: Jason A Burgess, Esq.
                  THE LAW OFFICES OF JASON A. BURGESS, LLC
                  118 West Adams Street, Ste. 900
                  Jacksonville, FL 32202
                  Tel: 904-354-5065
                  Email: jason@jasonaburgess.com

Total Assets: $70

Total Liabilities: $1.2 million

The petition was signed by Abdul Kani, RMD, member manager.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/flmb15-03146.pdf


ASARCO LLC: Dismissal of Contribution Suit v. Celanese Affirmed
---------------------------------------------------------------
The United States Court of Appeals, Ninth Circuit, tossed an appeal
by ASARCO, LLC and affirmed the district court's grant of summary
judgment in favor of CNA Holdings, LLC in ASARCO's suit for
contribution under Sec. 113(f)(3)(B) of the Comprehensive
Environmental Response, Compensation, and Liability Act, 42 U.S.C.
Sec. 9613(f)(3)(B).  The district court ruled that ASARCO's
contribution action was time-barred and dismissed the complaint.

A copy of the Ninth Circuit's July 10 Opinion is available at
http://is.gd/gqVDbsfrom Leagle.com.

ASARCO is the corporate successor to a company that owned and
operated a silver and lead smelter on a 66-acre industrial site on
San Pablo Bay in Contra Costa, California. The smelter operated
until 1970, depositing smelting byproducts on its property and the
tideland ASARCO leased from the California State Lands Commission
abutting the property. The smelter was closed after it was named as
the likely source of lead pollution that caused livestock deaths
nearby.

After the smelter closed, ASARCO leased a 1.33 acre parcel of the
Selby Site containing a sulfur dioxide plant that ASARCO had
previously operated to Virginia Chemicals, a corporate predecessor
to CNA. CNA leased and operated the Plant from 1972 until September
1977. As a result of the Plant operations that occurred before and
during CNA's leasehold, the soil in the Selby Site area was
contaminated with sulfuric acid, as discovered by the San Francisco
Bay Regional Water Quality Control Board in April 1976. The Control
Board issued a cleanup and abatement order in August 1976, amended
the order in November 1976, and conditionally rescinded the order
in April 1977.

After the Plant shut down, and long after smelting had ceased,
Wickland Oil Company purchased ASARCO's Selby Site property in
October 1977, and leased the tidelands from State Lands in July
1981 to build and operate a marine fuel terminal. Wickland learned
from the California State Department of Health Services that the
Selby Site contained hazardous substances, and that further
investigation and remediation efforts were required across much of
the site. California DHS had identified the presence of toxic
metals in the slag pile, with high concentrations of lead, zinc,
arsenic, and cadmium. The Selby Site was placed on the California
State Superfund list. Wickland incurred environmental response
costs and looked for other responsible parties to share those
costs.

In 1983, Wickland filed a cost-recovery lawsuit under CERCLA Sec.
107 against ASARCO, as the former owner of part of the Selby Site
and operator of the entire Selby Site, and State Lands, as the
former owner of the remainder of the Selby Site that permitted and
encouraged the disposal by ASARCO of hazardous substances on the
Selby Site. In its lawsuit, Wickland sought to establish ASARCO's
liability for response costs at the Selby Site to address metals
leaching from the slag and causing groundwater contamination.
Wickland sought reimbursement of no less than $400,000 in past
response costs and a declaration that ASARCO and State Lands were
liable for all future response costs at the Selby Site.

After the district court rendered summary judgment in favor of
ASARCO and State Lands in the 1983 case on the grounds that (1) the
cost recovery claim was not ripe and (2) the claims for declarative
and therefore injunctive relief were not ripe, the Ninth Circuit
reversed the district court's judgment and remanded the case so
that Wickland could pursue its claims.  The case is, Wickland Oil
Terminals v. Asarco, Inc., 792 F.2d 887, 892-93 (9th Cir. 1986).

In February 1989, Wickland, ASARCO, and State Lands entered into an
"Agreement for Entry of Consent Judgment" to "settle and compromise
the [district court lawsuit], and to establish a procedure for
allocating past and future costs attributable to the events and
conditions underlying the [district court lawsuit]."  State Lands
entered into the agreement as the former owner of part of the Selby
Site, not as a "Government Agency." Although the Settling Parties
knew that Virginia Chemicals had been named in the 1976 RWQCB Order
and repeatedly referred to in the Wickland lawsuit, Virginia
Chemicals had never been brought into the lawsuit as a party, and
was not a party to the Wickland Agreement. The district court
entered a consent judgment based on the Wickland Agreement on March
13, 1989, and retained jurisdiction over the parties in order to
enforce or amend the terms of the Agreement.

In August 2005, 16 years after the Wickland Agreement settled the
Selby Site litigation, ASARCO filed a Chapter 11 voluntary petition
in the United States Bankruptcy Court for the Southern District of
Texas. State Lands, C.S. Land, Inc. -- Wickland's successor in
interest -- and California Department of Toxic Substances Control
-- California DHS's successor as the administrating regulatory
agency -- asserted claims for ASARCO's share of past and future
Selby Site environmental costs in July 2006 (and amended the claims
in 2007). DTSC's proof of claim indicated that remediation of the
conditions addressed by ASARCO's interim remedial measures was not
complete and sought to recover costs to implement a final remedy at
the Selby Site.

In January 2008, ASARCO moved in the bankruptcy court for approval
of a settlement of the response cost claims asserted by State
Lands, CSLI and DTSC. Notably, ASARCO's parent company filed an
objection to the settlement, contending that the settlement
included costs to remediate contaminated groundwater that ASARCO
had nothing to do with. ASARCO's parent withdrew the objection
after negotiating a stipulation and clarification with the parties
regarding $33 million ASARCO was to pay DTSC under the 2008
Bankruptcy Settlement. The bankruptcy court approved the 2008
Bankruptcy Settlement on March 31, 2008.

On March 23, 2011, ASARCO filed a new lawsuit against CNA to seek
contribution under CERCLA Sec. 113(f). CNA moved for summary
judgment on the ground that ASARCO's suit was barred by the statute
of limitations under CERCLA Sec. 113(g)(3)(B).

On June 6, 2012, the district court entered summary judgment in
favor of CNA. The district court decided that the statute of
limitations for contribution claims following a "judicially
approved settlement" under CERCLA Sec. 113(g)(3)(B) applied to any
judicially approved settlement, whether between private parties or
between a private party and the United States or a State. The
district court determined that the statute of limitations applied
to the Wickland Agreement and that ASARCO's time to file a
contribution claim pursuant to the Wickland Agreement had expired.
The district court also determined that 2008 Bankruptcy Settlement
did not present any new costs not contemplated in the Wickland
Agreement, and therefore a new contribution claim had not accrued
as a result of the 2008 Bankruptcy Settlement.  The appeal
followed.

The case is, ASARCO, LLC, Plaintiff-Appellant, v. CELANESE CHEMICAL
COMPANY, Defendant-Appellee, NO. 12-16832 (9th Cir.).  The case is
before William A. Fletcher and Paul J. Watford, Circuit Judges, and
Kevin Thomas Duffy, District Judge.

Linda R. Larson (argued), Russell C. Prugh, and Meline G. MacCurdy,
Marten Law PLLC, Seattle, Washington; Gregory Evans and James G.
Warren, Integer Law Corporation, Los Angeles, California, for
Plaintiff-Appellant.

John D. Edgcomb (argued) and Michael A.G. Einhorn, Edgcomb Law
Group, P.C., San Francisco, California, for Defendant-Appellee.

                         About Asarco LLC

Based in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/--  
is an integrated copper mining, smelting and refining company.
Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent.

ASARCO LLC filed for Chapter 11 protection (Bankr. S.D. Tex. Case
No. 05-21207) on Aug. 9, 2005.  Attorneys at Baker Botts
L.L.P., and Jordan, Hyden, Womble & Culbreth, P.C., represented
the Debtor in its restructuring efforts.

On Dec. 9, 2009, Asarco Incorporated and Americas Mining
Corporation's Seventh Amended Plan of Reorganization for the
Debtors became effective and the ASARCO Asbestos Personal Injury
Settlement Trust was created and funded with nearly $1 billion in
assets, including more than $650 million in cash plus a $280
million secured note from Reorganized ASARCO.  The Plan, which was
confirmed both by the bankruptcy and district courts, reintegrated
ASARCO LLC back to parent Grupo Mexico concluding the four-year
Chapter 11 proceeding.


AUDATEX NORTH: Moody's Lowers CFR to 'B1' & Rates New Notes 'B1'
----------------------------------------------------------------
Moody's Investors Service downgraded the Corporate Family Rating of
Audatex Holdings, LLC, and the existing senior unsecured notes
rating of Audatex North America, Inc. to B1, from Ba3, upon the
announcement that Audatex will be issuing $850 million of senior
unsecured notes, to which Moody's also assigned a B1 rating.
Proceeds from the new notes will be used to pay down a $200 million
bridge facility that was used for the acquisition of DMEautomotive
and to purchase, for $594 million, the 50% share of Service Repair
Solutions that Audatex does not already own, as well as for fees
and expenses.  Moody's also downgraded Audatex's probability of
default, to Ba3-PD, from Ba2-PD, and affirmed the company's SGL-1
liquidity rating.  The outlook remains stable.

RATINGS RATIONALE

The ongoing, cumulative impacts of debt assumed for acquisitions
and for the buyout of its joint venture partner's 50% share of SRS,
plus ramped up share buybacks and dividends, have pushed Moody's
expectations for Audatex's intermediate-term leverage to
approximately 7.0 times, a level high even for a B1-rated credit.
Audatex has demonstrated an aggressive financial policy marked by
persistently high (above 6.0x) debt-to-EBITDA leverage (including
Moody's adjustments), and declining free cash flow even as the
company's scale grows.  The acquisition of DMEa, which closed last
month, is consistent with the company's strategy of moving beyond
its core expertise in automotive property and casualty claims
processing while staying within an overarching data, software, and
connectivity business model.  Meanwhile, the purchase from a
private equity owner of the portion of SRS that Solera doesn't
already own may serve to simplify the management structure and
bring synergies into sharper focus.  But together the transactions
also cause Solera's pro-forma debt/EBITDA leverage to surge well
beyond levels consistent with a Ba-rated entity, such that Moody's
does not expect the measure to settle back to about 7.0x until the
end of fiscal 2016, one year from now.

In order to realize its stated Mission 2020 goal of $2 billion in
revenue and $840 million in adjusted EBITDA by June 30, 2020, the
company has been actively pursuing debt-funded acquisitions, often
at very high purchase multiples.  While it has thus far realized
noteworthy success in integrating acquisitions and retaining its
strong, high-30%s EBITDA margins, its absolute level of FCF has
fallen steadily over the past several years, even as its top line
and profits have grown.  An escalating level of cash outflows for
dividends and stock repurchases underscores the company's comfort
with shareholder-favorable policies to the detriment of its credit
rating.

Financial policies notwithstanding, Solera enjoys a market-leading
competitive position marked by geographic and customer diversity,
and excellent revenue visibility and recurrence, which are
supported by favorable demographic and technological trends.
Moody's stable outlook anticipates continued, steady organic
revenue growth at the mid-single-digit level with roll-out of added
services to existing customers and growing claims volumes in
developing markets; consistent, high adjusted EBITDA margins
approaching 40%; steady interest coverage of above 2.0 times and
free-cash-flow-to-debt in the low- to mid-single-digit percentages;
and a suspension, over the next two years, of large acquisitions.
A demonstrated commitment by Solera to delever steadily, with debt
to EBITDA falling below 5.5 times on a sustained basis, while
continuing to grow in line with its long-term plan, would be
important considerations for any possible upgrade.  Ratings could
be downgraded if the company undertakes acquisitions that, after
integration, fail to realize targeted margins, if Moody's expects
debt-to-EBITDA to be sustained above 7.0 times, or if Moody's
expects that annual free cash flow will approach breakeven.

Downgrades:

Issuer: Audatex Holdings, LLC

  Corporate Family Rating (Local Currency), downgraded to B1
  from Ba3

  Probability of Default Rating, downgraded to Ba3-PD from Ba2-PD

Issuer:Audatex North America, Inc.

  Senior unsecured notes due 2021, 2023, downgraded to B1 from Ba3

Assignment:

Issuer: Audatex North America, Inc.

  Senior unsecured notes due 2025, assigned B1

Outlook Actions:

Issuer: Audatex Holdings, LLC and Audatex North America, Inc.
  Outlook, remains stable

Affirmations:

Issuer: Audatex Holdings, LLC
  Speculative Grade Liquidity Rating, affirmed SGL-1

Audatex Holdings, LLC is a wholly-owned subsidiary of Solera
Holdings, Inc. ("Solera", ticker: SLH) and a leading provider of
risk and asset management software and services to the automotive
and property marketplace, including the global property and
casualty industry.  Customers for automobile
insurance-claims-processing solutions include automobile insurance
companies, collision repair facilities, appraisers, and dealers.
Moody's expects revenues, with the benefit of significant recent
acquisitions, of approximately $1.3 billion for the 2016 fiscal
year (ending in June 2016).

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



B&G FOODS: Moody's Retains 'Ba3' CFR Over Spartan Foods Deal
------------------------------------------------------------
Moody's says that B&G Foods, Inc.'s acquisition of Spartan Foods of
America, Inc. (dba Mama Mary's) for approximately $50 million in a
fully cash-financed transaction is a moderate credit positive, but
it does not change the company's Ba3 Corporate Family Rating or
stable rating outlook.

B&G Foods ("B&G", NYSE: BGS) based in Parsippany, New Jersey, is a
publicly traded manufacturer and distributor of a diverse portfolio
of largely branded, shelf-stable food products, many of which have
leading regional or national market shares in niche categories.
The company also has a small presence in household products.  B&G's
brands include Cream of Wheat, Ortega, Maple Grove Farms of
Vermont, Polaner, B&M, Las Palmas, Mrs. Dash, Pirate Brands and
Bloch & Guggenheimer among others.  B&G sells to a diversified
customer base including grocery stores, mass merchants,
wholesalers, clubs, dollar stores, drug stores, the military and
other food service providers.  Pro-forma for the acquisition of
Mama Mary's, sales for the twelve months ended April 4, 2015 were
approximately $902 million, the majority of which were derived in
the US and the remainder in Canada.



BANKERS' BANCORPORATION: Readies August Auction
-----------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reported that a bankruptcy judge ruled that a Florida bankers'
bank, which provides credit, investment and payment services to the
state's community banks, may be auctioned next month.

According to the report, Judge Cynthia C. Jackson of the U.S.
Bankruptcy Court in Orlando on July 14 signed off on an Aug. 17
auction of Bankers' Bancorporation of Florida Inc.'s equity in its
bank subsidiary, Independent Bankers' Bank of Florida.

Lake Mary, Florida-based Bankers' Bancorporation of Florida Inc.,
sought protection under Chapter 11 of the Bankruptcy Code on June
29, 2015 (Bankr. M.D. Fla., Case No. 15-05642).

The Debtor's counsel is Ryan E Davis, Esq., at Winderweedle Haines
Ward & Woodman PA, in Orlando, Florida.


BANNING LEWIS: Denied Partial Summary in Suit vs. Colorado Springs
------------------------------------------------------------------
Judge Howard R. Tallman of the United States Bankruptcy Court for
the District of Colorado denied The Banning Lewis Ranch Company, et
al.'s motion for partial summary judgment in the adversary
proceeding captioned THE BANNING LEWIS RANCH COMPANY LLC, BLH NO.
1, LLC, BLH NO. 2, LLC, and BANNING LEWIS HOLDINGS, LLC,
Plaintiffs, v. CITY OF COLORADO SPRINGS, COLORADO, and COLORADO
SPRINGS UTILITIES, Defendants, Adversary Proceeding No. 11-01634
HRT, (D. Co.).

On the Petition Date, the Debtors' assets consisted principally of
real property, including 17,760 acres of mostly vacant land in El
Paso County, Colorado.  In 1988, BLRC's predecessor-in-interest,
Aries Properties, along with others owning property in Banning
Lewis Ranch, entered into an Annexation Agreement with the City of
Colorado Springs, Colorado.  BLRC did not proceed with development,
and the Property remained vacant while residential development
occurred in other areas of Banning Lewis Ranch.

Judge Tallman found that, a matter of law, the Property may not be
sold free and clear of the Annexation Agreement and other
Agreements.  Judge Tallman said that as for Section 363(f)(1) of
the Bankruptcy Code, the Court cannot find that applicable
bankruptcy law would permit the sale of the Property free and clear
of the Annexation Agreement and other Agreements, as the Plaintiffs
have not presented evidence supporting a judgment in their favor on
their claims under the doctrines of unreasonable restraints on
alienation or changed circumstances.

The bankruptcy case is In re: THE BANNING LEWIS RANCH COMPANY, LLC,
et al., Chapter 11, Debtors, Case No. 10-13445 (Bankr. D. Del.).

A full-text copy of the Judge Tallman's Order dated June 22, 2015,
is available at http://is.gd/iAe20sfrom Leagle.com.

                          About Banning Lewis

The Banning Lewis Ranch Co. was the owner of the undeveloped
portion of a 21,000-acre ranch in Colorado Springs, Colo.  The
Banning Lewis Ranch was a master-planned community in Colorado
Springs, Colorado.  The first section built, the 350-acre Northtree
Village, opened in September 2007 and was to have 1,000 homes
priced from the high $100,000s to the mid-$300,000s.

The Banning Lewis Ranch filed for Chapter 11 bankruptcy protection
from creditors (Bankr. D. Del. Case No. 10-13445) on Oct. 28,
2010.  It estimated assets of $50 million to $100 million and debts
of $100 million to $500 million in its Chapter 11 petition.

An affiliate, The Banning Lewis Ranch Development I & II, LLC, also
filed for Chapter 11 (Bankr. D. Del. Case No. 10-13446).

Kevin Scott Mann, Esq., at Cross & Simon, LLC, serves as counsel to
the Debtors.  Edward A. Phillips of Eisner Amper LLP has been
retained as the Company's chief restructuring officer.


BON-TON STORES: Brigade Capital Reports 14.7% Stake as of July 10
-----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Brigade Capital Management, LP and its affiliates
disclosed that as of July 10, 2015, they beneficially own
2,785,000 shares of common stock of The Bon-Ton Stores, Inc., which
represents 14.7 percent of the shares outstanding.  A copy of the
regulatory filing is available at http://is.gd/nbii6y

                        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.


BUILDERS FIRSTSOURCE: Moody's Confirms 'B3' CFR, Outlook Stable
---------------------------------------------------------------
Moody's Investors Service confirmed Builders FirstSource, Inc.'s B3
Corporate Family Rating and B3-PD Probability of Default Rating
following the company's previous announcement that it is acquiring
ProBuild Holdings, LLC for approximately $1.63 billion.  In related
rating actions, Moody's upgraded the company's existing senior
secured notes due 2021 to B3 from Caa1 and assigned a B3 rating to
BLDR's proposed $550 million senior secured term loan due 2022,
since these credit facilities are pari passu to each other in a
recovery scenario.  Moody's also assigned a Caa2 to the proposed
$750 million senior unsecured notes due 2023.  The SGL-3
Speculative Grade Liquidity rating is affirmed as well.  The rating
outlook is stable.  This completes the review Moody's initiated on
April 16, 2015.

BLDR is acquiring ProBuild for approximately $1.63 billion,
creating one of the largest rated building products distributor
based on revenues.  Cash for the transaction will come from a $295
million drawdown under BLDR's new $800 million asset-based
revolving credit facility due 2020(unrated) and $1.3 billion from
the proposed secured term loan and unsecured notes.  Also, about
$100 million in new common equity will be raised to fund the
acquisition.  BLDR will assume approximately $300 million of
ProBuild's capital lease obligations.

These ratings are affected by this action:

-- Corporate Family Rating confirmed at B3;

-- Probability of Default Rating confirmed at
    B3-PD;

-- Senior Secured Notes due 2021 upgraded to B3
    (LGD4) from Caa1 (LGD4);

-- Senior Secured Term Loan due 2022 assigned
    B3 (LGD4);

-- Senior Unsecured Notes due 2023 assigned Caa2 (LGD5);

-- Speculative Grade Liquidity Rating affirmed at SGL-3.

RATINGS RATIONALE

BLDR's B3 Corporate Family Rating remains appropriate at this time,
since we expect improvement in the combined entities operating
margins over the next 12 to 18 months, returning debt credit
metrics from a pro forma basis at closing to levels more
appropriate for the current ratings.  Moody's estimates adjusted
EBITDA margins could improve modestly and approach 6.0% by year-end
2016, due to higher volumes, some price increases, cost synergies,
and savings that should finally materialize from ProBuild's
previous realignment actions.  Moody's forecasts absolute levels of
adjusted EBITDA could near $420 million by year-end 2016 on
projected revenues of $7.0 billion.  The resulting leverage will be
nearing 5.5x by FYE16 from nearly 9.0x on a pro forma basis at
closing.  Interest coverage, measured as (EBITDA-CAPEX)-to-interest
expense should approach 2.0x over the same time period from 1.0x on
a pro forma basis as well (all ratios incorporate Moody's standard
adjustments).

The combination of BLDR and ProBuild creates a national distributor
with more product offerings, which should give BLDR more exposure
to repair and remodeling activity and reduce reliance on new
residential construction.  New housing construction and repair and
remodeling activity, the main drivers of the combined entities, are
experiencing solid growth trends, which Moody's expects to continue
over the next 12 to 18 months. Expected revolver availability gives
BLDR much needed financial flexibility to contend with its
leveraged debt capital structure and high fixed charge payments.

However, risks remain following the completion of the acquisition.
The integration of the combined entities could stumble, delaying
the realization of anticipated cost synergies.  BLDR indicated that
it has the capacity to achieve $110 million in cost savings over
the next three years, partially offset by one-time costs of $95 -
$100 million; approximately two thirds of which are to be incurred
in the first twelve months after close, with the remainder expected
in the second year after close.  Also, the predominately
debt-financed acquisition of ProBuild will result in balance sheet
debt ballooning by about $1.9 billion to approximately $2.3
billion, making it difficult for BLDR to generate meaningful levels
of cash flow from which optional debt reduction could occur.  Fixed
charge payments including interest and capital lease interest
payments, and term loan amortization will approach $160 million per
year.

The stable rating outlook reflects Moody's view that BLDR will
integrate ProBuild with minimal disruption and realize expected
cost synergies.  Improving operating performance and reducing debt
from free cash flow, should result in adjusted debt-to-EBITDA
leverage approaching 5.5x by year-end 2016.

The upgrade of the senior secured notes due 2021 to B3 from Caa1
and the B3 assigned to the senior secured term loan due 2022 are
the same rating as the Corporate Family Rating, representing the
preponderance of debt in the capital structure, and both are pari
passu to each other in a recovery scenario.  Both credit facilities
are secured by a first lien on all assets and property of BLDR,
excluding any assets securing borrowings under the revolver, and a
second lien on the assets pledged to the revolver. The notes and
term loan are guaranteed by substantially all of BLDR's direct and
indirect domestic subsidiaries.  The notes and term loan benefit
from $750 million of junior unsecured capital, which would absorb
the first losses in a recovery scenario.

The Caa2 assigned to the unsecured notes due 2023 is two notches
below the Corporate Family Rating and results from their position
as the most junior debt BLDR's debt capital structure.  These
notes, which are guaranteed by substantially all of BLDR's direct
and indirect domestic subsidiaries, are effectively subordinated to
almost $2.0 billion (inclusive of about $300 million in capital
leases) of more senior debt, putting them in a first-loss position
in a recovery scenario.

An upgrade is unlikely over the next 12 to 18 months until the
combined have merged and begin to generate cost savings, improving
its operations and validating Moody's forecasts.

The ratings could be negatively impacted if BLDR's operating
performance fails to meet Moody's expectations, cost synergies do
not materialize, or end markets contract such that:

   -- Adjusted debt-to-EBITDA shows no signs of improvement and
      remains above 7.0x (9.0x pro forma)

   -- Excessive usage of the revolver credit facility, the key
      source of liquidity

Builders FirstSource, Inc. ("BLDR"), headquartered in Dallas, TX,
manufactures and supplies structural and related building products
for the domestic residential new construction and repair and
remodeling activity.  Its products include prefabricated
components, windows and exterior doors, lumber and lumber sheet
goods, millwork products, and other building products and services.
JLL Partners and Warburg Pincus, through their respective
affiliates, own in aggregate approximately 50% of BLDR. Annualized
revenues on a pro forma basis inclusive of ProBuild Holdings, LLC
total approximately $6.1 billion.



BUILDERS FIRSTSOURCE: S&P Raises CCR to 'B+', Outlook Stable
------------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Builders FirstSource Inc. to 'B+' from 'B'.  The
outlook is stable.

S&P also raised its issue-level rating on Builders' $350 million
senior secured notes due 2021 to 'BB-' (one notch above the
corporate credit rating) from 'B' and revised its recovery rating
on the notes to '2' from '4'.  The '2' recovery rating indicates
S&P's expectation of substantial (70% to 90%; lower half of the
range) recovery for bondholders in the event of a payment default.

At the same time, S&P assigned its 'BB-' issue-level rating to the
company's proposed $550 million term loan due 2022.  The recovery
rating on the loan is '2', indicating S&P's expectation of
substantial (70% to 90%; lower half of the range) recovery.
Finally, S&P assigned its 'B-' issue-level rating (two notches
below the corporate credit rating) to Builder's proposed $750
million senior unsecured notes due 2023.  The recovery rating on
the notes is '6', indicating S&P's expectation of negligible (0% to
10%) recovery for bondholders in the event of a payment default.

"The stable outlook reflects our view that Builders FirstSource
will continue to increase sales and EBITDA as U.S. residential
construction continues to recover from an historic downturn and the
company realizes significant synergies from the merger.  As a
result, we expect some improvement in the company's leverage
measures over the next 12 to 24 months while it maintains adequate
liquidity," said Standard & Poor's credit analyst Pablo Garces.
"However, the company will remain highly leveraged, with debt to
EBITDA well above 5x. Our view of the company's financial risk as
highly leveraged also incorporates the risk of future volatility in
EBITDA and leverage measures given its correlation to cyclical home
construction as well as the risk of subsequent leveraging in
accordance with our criteria for companies owned by financial
sponsors."

S&P could lower its rating on Builders FirstSource if management
adopted more aggressive financial policies such as leveraged share
repurchases or debt-financed acquisitions that resulted in leverage
in excess of 8x or if liquidity became constrained due to reduced
availability under the company's asset-based lending facility.

S&P believes an upgrade is unlikely.  However, S&P could raise the
rating if leverage dropped and it expected it to stay below 4x
EBITDA or if the company's financial sponsors sold its ownership
stake down below 40%.  In this scenario, S&P would view the
company's financial risk as "significant."  Alternatively, S&P
would raise its rating if the company demonstrated less earnings
volatility and greater end market diversity such that S&P viewed
business risk as "fair."  S&P do not ascribe a high probability to
either upside scenario over the next 12 months.



BURLINGTON COAT: Moody's Raises CFR to Ba3, Outlook Positive
------------------------------------------------------------
Moody's Investors Service upgraded Burlington Coat Factory
Warehouse Corp's Corporate Family Rating to Ba3 and Probability of
Default Rating to Ba3-PD.  In conjunction with the rating action,
the $1.1 billion outstanding term loan was raised a notch to Ba3.
Moody's also affirmed the SGL-2 Speculative Grade Liquidity Rating.
The rating outlook is positive.  This rating action concludes the
review for upgrade initiated on June 16, 2015.

"The upgrade reflects the reduction in adjusted debt due to changes
in Moody's approach for capitalizing operating leases" said Moody's
Vice President Scott Tuhy.  The updated approach for standard
adjustments for operating leases is explained in the cross-sector
rating methodology Financial Statement Adjustments in the Analysis
of Non-Financial Corporations, published on June 15, 2015.  Tuhy
added "The positive outlook incorporates our expectation that
Burlington will further improve credit metrics as it drives recent
merchandising initiatives to increase earnings. The rating action
also incorporates the company's participation in the resilient
off-price retail segment, which Moody's anticipates will continue
to experience faster growth than the broader retail sector."

These ratings were upgraded:

  Corporate Family Rating to Ba3 from B1

  Probability of Default Rating to Ba3-PD from B1-PD

  $1.11 billion senior secured term loan due 2021 to Ba3, LGD3
   from B1, LGD3

  Outlook revised to positive from stable

These ratings were affirmed:

  Speculative Grade Liquidity Rating: SGL-2

RATINGS RATIONALE

BCFW's Ba3 Corporate Family Rating reflects its moderate financial
leverage with debt/EBITDA (including Moody's standard adjustments
for operating leases) at 4.2x and EBITA/interest expense at 2.4x as
of May 2, 2015.  Moody's expects leverage to improve to the mid 3x
range and coverage to improve to the low 3x range through earnings
improvement and some debt repayment over the next 12-18 months.
The rating also reflects our expectations that the company's lower
capex spend going forward will free up capacity to repurchase
shares as well as continue to repay some debt using free cash flow.
The ratings reflect the company's participation in the off-price
retail segment which we consider a resilient segment of retailing
and is expected to grow faster than overall retail sales.  Moody's
believes recent actions, such as improved merchandising
initiatives, are driving sustainable improvement in operating
margins evidenced in recent performance.  The ratings reflect the
company's weak competitive position, as it is still significantly
smaller than its largest peers -- TJX and Ross Stores -- and with
significantly lower operating margins.

The positive outlook reflects Moody's expectations that the company
will continue to drive moderate margin expansion on mid-single
digit revenue increases as Burlington benefits from positive trends
for off price apparel retailing.  The outlook incorporates our
expectations that notwithstanding its recently announced $200
million share repurchase program, the company will see further
improvement in metrics going forward.  Moody's expects leverage to
improve to the mid 3x range and coverage to improve to the low 3x
range over the rating horizon as the company improves earnings and
continues to make modest debt repayments.

Ratings could be upgraded if the company maintains balanced
financial policies and continues to improve operating performance
such that debt/EBITDA approaches 3.5 times and EBITA/interest
expense was above 3 times.

In view of the positive outlook, ratings are unlikely to be
downgraded.  The rating outlook could be stabilized if recent
positive trends in performance were to reverse or financial
policies became more aggressive, such as meaningful additional debt
financed share repurchases.  The rating outlook could be stabilized
if debt/EBITDA remained near 4.0 times.  Ratings could be lowered
if debt/EBITDA was sustained above 4.5 times and EBITA/interest
coverage were to approach 2 times or the company's good liquidity
profile were to erode.

Headquartered in Burlington, NJ, Burlington Stores operates a
national chain of off price retail stores, operating 546 stores as
of May 2, 2015 primarily under the Burlington Stores name.  Bain
Capital took Burlington private through an LBO in April 2006 and
has fully exited its stake on April 1, 2015 following the October
2013 IPO and subsequent secondary offerings.  LTM revenues exceed
$4.9 billion.



CACHE INC: Exclusive Plan Filing Date Extended to Oct. 2
--------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware extended the period by which Cache Inc. has exclusive
right to file a plan of reorganization through and including Oct.
2, 2015, and the period by which the Debtor has exclusive right to
solicit acceptances of that plan through and including Dec. 1,
2015.

According to Laura Davis Jones, Esq., at Pachulski Stang Ziehl &
Jones LLP, in Wilmington, Delaware, the Debtors and Great American
Group WF, LLC, as agent, completed their going-out-of-business
sales under the Agency Agreement.  In addition, the Debtors
negotiated and implemented the settlement memorialized in the Final
DIP Order that will provide up to $950,000 for the payment of
allowed 503(b)(9) claims and stub rent claims.

The Debtors, Ms. Jones told the Court, are in the process of
winding down the remaining issues in these cases that need to be
addressed.  In light of the posture of these chapter 11 cases, the
Debtors believe it is in the best interests for them to remain in
control of the administration and conclusion of these tasks under
the chapter 11 process, including preserving the possibility and
opportunity to propose and confirm a chapter 11 plan to the extent
that is the optimal outcome for creditors and other
parties-in-interest.

                         About Cache, Inc

Cache, Inc., operates 236 women's apparel specialty stores under
the trade name "Cache."  On Dec. 4, 2014, New York-based Cache
announced that it has received an inquiry from a third party
regarding a potential sale of the Company.

Cache, Inc., and its two affiliates sought protection under Chapter
11 of the Bankruptcy Code (Bankr. D. Del. Case No.15-10172) on Feb.
4, 2015. The case is assigned to Judge Mary F. Walrath.

The Debtors are represented by Laura Davis Jones, Esq., Peter J.
Keane, Esq., and Colin R. Robinson, Esq., at Pachulski Stang
Ziehl& Jones LLP, in Wilmington, Delaware. The Debtors'
restructuring advisors is FTI Consulting Inc., while their
investment banker and financial advisor is Janney Montgomery Scott
LLC. Thompson Hine represents the Debtors in corporate and
securities matter, while Jackson Lewis P.C. represents the Debtors
in employment matters.

The Debtors' communications services provider is Epiq Systems,
Inc., while their noticing and claims management services provider
is Kurtzman Carson Consultants. A&G Realty Partners, LLC, serves as
the Debtors' real estate consultants.

The Debtors had total assets of $53.7 million and total liabilities
of $51.1 million as of Sept. 27, 2014. In its schedules, the Debtor
disclosed $38,793,006 in assets and $84,113,066 in liabilities.

The U.S. Trustee for Region 3 has appointed seven members to the
Official Committee of Unsecured Creditors in the Debtors' case. The
Committee retained Bayard, P.A., as local Delaware counsel, and
Otterbourg P.C. as lead bankruptcy counsel.


COCO BEACH GOLF: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Coco Beach Golf & Country Club, S.E.
        PO Box 21420
        San Juan, PR 00928-1420

Case No.: 15-05312

Nature of Business: Golf Course and Club

Chapter 11 Petition Date: July 13, 2015

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

Debtor's Counsel: Charles Alfred Cuprill, Esq.
                  CHARLES A CUPRILL, PSC LAW OFFICE
                  356 Calle Fortaleza
                  Second Floor
                  San Juan, PR 00901
                  Tel: 787 977-0515
                  Email: cacuprill@cuprill.com

Total Assets: $9.2 million

Total Liabilities: $78 million

The petition was signed by Jorge Luis Diaz Irizarry, authorized
individual.

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


CORINTHIAN COLLEGES: Student Committee Reaches Debt Relief Deal
---------------------------------------------------------------
The special Student Committee representing the interests of former
students of Corinthian Colleges, Inc., one of the nation's largest
for-profit college systems before its closure earlier this year, on
July 13 disclosed that it has reached an agreement with the U.S.
Department of Education to work cooperatively on a strategy that
will provide meaningful relief and assistance for all former
Corinthian students impacted by the school's Chapter 11 bankruptcy
filing.

Under the agreement, all pending judicial actions will be suspended
for 120 days.  During that time, the Student Committee intends to
continue to work with the Department of Education to further an
approach that provides the impacted former students with long-term
relief.  In exchange for the temporary stay, the Student Committee
has agreed to withdraw its motion that sought a court-ordered stay
of collection efforts on all Corinthian student loan debt.

"The Department of Education is committed to working with the
Corinthian Student Committee on the debt issues its former students
now face, to ensure that the Committee and those it represents are
treated fairly during the bankruptcy proceedings," said Mark
Rosenbaum, Director of Public Counsel Opportunity Under Law, who
along with attorneys from Robins Kaplan LLP, represents the Student
Committee.  "We are hopeful that this agreement will foster a
strong collaboration that advances our ultimate goal of achieving
meaningful relief for the students."

Hundreds of thousands of former students are adversely affected by
the collapse of Corinthian, which once operated 107 campuses before
shutting its doors in April.  The Student Committee had sought the
imposition of a court-ordered freeze on efforts by any party to
collect on obligations related to federal and private funding of
Corinthian -- funds that would have been advanced for tuition,
fees, and other school-related expenses -- while the responsibility
for the repayment of those funds was determined in Corinthian's
bankruptcy.  The Student Committee believes that a cooperative
effort with the Department of Education provides the most
appropriate path to meaningful relief.

"While, in a perfectly just legal system, we would be eagerly
announcing inclusive and sweeping relief, this agreement is an
important step in the right direction as we work through a complex
and massive bankruptcy to ensure that the rights and interests of
Corinthian's former students are protected," said Scott Gautier of
Robins Kaplan LLP.  "We are hopeful that today's announcement sets
the stage for greater relief on a collective basis in the not so
distant future."

In May, the U.S. Trustee's Office granted the request of an ad-hoc
group to recognize a special committee representing the interests
of students in the proceedings, the first known instance of a
student group being given a seat at the table in the bankruptcy of
an educational institution.

Public Counsel and Robins Kaplan LLP represent the Student
Committee in the Delaware bankruptcy proceedings, with the
assistance of Polsinelli LLP as local Delaware counsel.

                    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.


CORPORATE OFFICE: Fitch Affirms 'BB' Preferred Stock Rating
-----------------------------------------------------------
Fitch Ratings has affirmed the following credit ratings for
Corporate Office Properties Trust (NYSE: OFC) and its operating
partnership, Corporate Office Properties, L.P. (collectively COPT,
or the company):

Corporate Office Properties Trust

-- Issuer Default Rating (IDR) at 'BBB-';
-- Preferred Stock at 'BB'.

Corporate Office Properties, L.P.

-- IDR at 'BBB-';
-- Senior unsecured line of credit at 'BBB-';
-- Senior unsecured term loans at 'BBB-';
-- Senior unsecured notes at 'BBB-'.

The Rating Outlook is Stable.

KEY RATING DRIVERS

Strong Franchise/Defense-Driven Portfolio

COPT generates 79% of net operating income (NOI) from its strategic
tenant niche, which includes properties occupied primarily by
government agencies or defense contractors. As a result, COPT's
assets are generally located near strategic defense locations (e.g.
Fort Meade, Redstone Arsenal), which drives geographic
concentration in the Washington, DC and Baltimore region. These
strategic locations drive strong tenant investment in the assets
and create stickiness, as retention rates have approximated 70%
historically.

Tenant missions also center on R&D and high-tech areas that are
critical to national cyber security in the United States. Together
with COPT's long-standing relationships with the federal government
and contractors, these strategic locations create meaningful
barriers to entry.

Portfolio Realignment Complete

COPT completed its strategic reallocation plan that commenced in
2011 via the sale of non-core assets which, when combined with
follow-on equity issuance, improved its balance sheet to levels
consistent with investment-grade office REITs. The remaining
transaction is the conveyance of a $132 million encumbered
portfolio ($150 million of secured debt) to the special servicer
during 2015. This transaction will further improve financial
flexibility, lower corporate leverage, and facilitate reinvestment
in the company's strategic niche properties.

Uneven Operating Fundamentals

Defense contractor downsizing, offset by good leasing activity,
held same-store occupancy roughly flat since the beginning of 2014
at 90.7% as of March 31, 2015. Fundamentals remain uneven across
COPT's markets, including the Baltimore/Washington Corridor and
Northern Virginia markets, which collectively comprise 67% of
portfolio square feet. The company had soft leasing indicators
evidenced by negative cash leasing spreads in 2014 and first
quarter 2015 (1Q15). However, GAAP leasing spreads continue to be
positive across the portfolio and accelerated to 7.3% in 2014 and
2.7% in 1Q15. Fitch expects that occupancy will remain unchanged as
new leasing activity offsets upcoming vacancies.

Informed Demand Mitigates Development Risk

COPT's growth strategy centers primarily on new development, as it
has a strong relationship with, and insights regarding demand from,
the U.S. Government for new space requirements. The (re)development
pipeline totaled $294 million at March 31, 2015 and the development
pipeline was 65% pre-leased to both government agencies and defense
contractors supporting these entities. The cost to complete the
pipeline is modest at 3.2% and despite potential growth toward 5%,
Fitch expects development risk will continue to be mitigated by
COPT's unique relationships which provide implicit pre-leasing.

The company remains well-positioned to capture future demand from
cyber security-driven growth, which should offset weakness in
regional markets and potential future downsizing from defense
contractors. COPT leased approximately 900,000 square feet of first
generation development and redevelopment space in 2014, which
follows 900,000 in 2013 and a record 1.2 million in 2012.

Fitch expects development to be funded primarily with proceeds from
asset sales. The company plans on selling primarily non-core assets
in markets such as Baltimore and Northern Virginia.

Conveyances Improve Credit Profile

In December 2013, the company sold its 15-asset Colorado Springs
portfolio for $133.9 million and conveyed 14 properties for $146.9
million in December 2013, reflecting the value of in-place debt and
accrued interest. COPT anticipates conveying a separate $132
million portfolio to the special servicer in 2015 following
vacancies by Northrop Grumman and CSC in April 2014, which will
facilitate further headline de-levering. Fitch is not concerned
about potential franchise risk at this time; however, additional
conveyances would be viewed negatively (there are none expected)
given the potential for weakened access to mortgage debt.

Elevated Leverage

Leverage (pro forma for the conveyance of assets encumbered by $150
million of secured debt) was 7.0x as of March 31, 2015, up from
6.5x as of both Dec. 31 2014 and 2013. March 31, 2015 leverage
would have been 6.8x when excluding the debt incurred with an
acquisition that occurred at the end of March 2015. Fitch expects
leverage will remain in the high 6's for 2015 -2017 due to
development assets coming on line and contributing to NOI, offset
by stabilized asset dispositions. Projected leverage is elevated
for the 'BBB-' Issuer Default Rating.

Fixed charge coverage (FCC; pro forma for the conveyance of assets
encumbered by $150 million of secured debt) was 2.3x for the
trailing 12 months (TTM) ended March 31, 2015 and Dec. 31, 2014, an
increase from 2.1x in 2013. Fitch expects that coverage will
approach 2.6x over the next 12-24 months, driven by recurring
operating EBITDA growth via developments and continued access to
debt capital at favorable rates. Projected coverage is good for the
rating.

Adequate Financial Liquidity

COPT has an adequate liquidity profile with total sources of
liquidity covering total uses of liquidity by 1.8x for the April 1,
2015 - Dec. 31, 2016 period.

Fitch defines liquidity coverage as sources of liquidity divided by
uses of liquidity. Sources of liquidity include unrestricted cash,
availability under the unsecured revolving credit facility, and
projected retained cash flow from operating activities after
dividends. Uses of liquidity include pro rata debt maturities,
expected recurring capital expenditures, and remaining development
costs.

Weak Unencumbered Asset Coverage of Unsecured Debt
The company's unencumbered asset coverage of unsecured debt (using
a stressed 9.0% capitalization rate) was 1.7x as of March 31, 2015,
down from 2.2x as of Dec. 31, 2013. Fitch expects this ratio to
improve to around 2.0x over the next several years as acquisition
and development EBITDA come on line.

Conservative AFFO Payout Ratio

COPT's AFFO payout ratio was 77% in 2014, which allows the company
to generate approximately $30 million of internal liquidity to fund
growth and repay debt. Fitch expects the company to increase the
dividend over the next 12 - 24 months; however, Fitch expects the
AFFO ratio to remain below 80%.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for COPT include:

-- Same-store revenue growth between 1.0% to 1.5% from 2015 -
    2017, reflecting expected vacancies and pressure on re-leasing

    spreads given a below-average retention rate;

-- Development spending of $325 million in 2015, followed by $300

    million and $200 million in 2016 - 2017;

-- Portfolio conveyance to the special servicer, reducing secured

    debt by $150 million and net assets by $132 million;

-- $300 million of dispositions in aggregate from 2015 - 2017 to
    partially fund development at 8.0% cap rates;

-- $100 million of common equity issued over the period to help
    fund development; however, equity issuance is at management's
    discretion and Fitch notes that OFC's common shares are
    currently trading at a 19.8% discount to consensus mean net
    asset value according to SNL Financial.

RATING SENSITIVITIES

The following factors may have a positive impact on COPT's ratings
and/or Outlook:

-- Fitch's expectation of net debt to recurring operating EBITDA
    sustaining below 6.0x (pro forma leverage was 7.0x at March
    31, 2015);

-- Fitch's expectation of fixed charge coverage sustaining above
    2.5x (pro forma fixed charge coverage was 2.3x for the
    trailing twelve months ended March 31, 2015);

-- Fitch's expectation of UA/UD maintaining above 2.5x based on a

    stressed 9% cap rate (UA/UD was 1.7x at March 31, 2015).

The following factors may have a negative impact on the company's
ratings and/or Outlook:

-- Fitch's expectation of net debt to recurring operating EBITDA
    sustaining above 7.0x;

-- Fitch's expectation of fixed charge coverage sustaining below
    1.8x;

-- Fitch's expectation of UA/UD sustaining below 1.8x;

-- Material macroeconomic weakness affecting the defense
    industry, such that a larger portion of COPT's portfolio would

    be comprised of traditional suburban office assets.



COUTURE HOTEL: Seeks Extension of Plan Filing Date to Aug. 5
------------------------------------------------------------
Couture Hotel Corporation, a/k/a Hugh Black-St Mary Enterprises
Inc., asks the U.S. Bankruptcy Court for the Northern District of
Texas, Dallas Division, to extend its exclusive period to confirm a
plan of reorganization up to and including August 5, 2015.

According to Gerrit M. Pronske, Esq., at Pronske Goolsby & Kathman,
P.C., in Addison, Texas, since June, the Debtor has learned that
certain creditors may intend to file a competing plan of
reorganization, which has the potential to create confusion within
the estate during the time that the Debtor is soliciting votes in
favor its own Plan of Reorganization, which is set for a
confirmation hearing on July 28.  The Debtor seeks the extension of
the exclusivity period to confirm a plan of reorganization up to
and including Aug. 5 to prevent the confusion caused by a competing
plan.

In addition to revising and edit language related to treatment of
classes of claims, the Debtor continues to negotiate the treatment
of the few classes that have not yet agreed to treatment of their
claims, Mr. Pronske says.  With the additional time, the Debtor
believes it will have not only agreements with regard to the
treatment of claims but also consensual language with regard to
those treatments and will therefore be able to confirm a plan of
reorganization is a timely manner, Mr. Pronske tells the Court.

The Debtor is represented by:

         Gerrit M. Pronske, Esq.
         Jason P. Kathman, Esq.
         PRONSKE GOOLSBY & KATHMAN, P.C.
         15305 Dallas Pkwy, Ste. 300
         Addison, TX 75001
         Tel: 214 658-6500
         Fax: 214 658-6509
         Email: gpronske@pgkpc.com
                jkathman@pgkpc.com

                          About Couture Hotel

Couture Hotel Corporation, fka Hugh Black-St Mary Enterprises,
Inc., owns and operates four hotels: a Wyndham Garden Inn in
Dallas, Texas, consisting of 356 rooms and remodeled in 2013; a
Howard Johnson in Corpus Christi, Texas, consisting of 140 rooms
and remodeled in 2012; a Howard Johnson in Las Vegas, Nevada,
consisting of 110 rooms and remodeled in 2012; and an independent
hotel in Las Vegas, Nevada (formerly branded as a Value Place),
consisting of 121 rooms and also remodeled in 2012. The Las Vegas
hotels are located at one of the entrances to Nellis Air Force base
in North Las Vegas.  The Debtor owns the real property and
improvements, as well as the franchise rights to the hotels (except
for Las Vegas Value Place).

The Company sought Chapter 11 protection (Bankr. N.D. Tex. Case No.
14-34874) in Dallas, Texas, on Oct. 7, 2014.  The case is assigned
to Judge Barbara J. Houser.  The Debtor has tapped Mark Sean
Toronjo, Esq., at Toronjo & Prosser Law, as counsel.

The Debtor, in an amended schedules, disclosed $20.8 million in
assets and $27.8 million in liabilities as of the Chapter 11
filing.

No creditors' committee or other official committee been appointed
in the case.


COUTURE HOTEL: Seeks to Pay $18K to Counsel
-------------------------------------------
Couture Hotel Corporation asks the United States Bankruptcy Court
for the Northern District of Texas, Dallas Division, to determine
that the case that was in its operating accounts on the Petition
Date, in the amount of $70,071, does not constitute cash
collateral.

The Debtor also seeks authority from the Court to pay the
professional fees and expenses of counsel Pronske Goolsby &
Kathman, P.C., in the sum of $18,205 from the prepetition account
and to pay future Court-awarded fees and expenses to the counsel
from the same prepetition account.

The Debtor is represented by:

       Gerrit M. Pronske, Esq.
       Jason P. Kathman, Esq.
       PRONSKE GOOLSBY & KATHMAN, P.C.
       15305 Dallas Pkwy, Ste. 300
       Addison, Texas 75001
       Tel.: 214 658-6500
       Fax: 214 658-6509
       Email: gpronske@pgkpc.com
              jkathman@pgkpc.com

                       About Couture Hotel

Couture Hotel Corporation owns and operates four hotels: a Wyndham
Garden Inn in Dallas, Texas, consisting of 356 rooms and remodeled
in 2013; a Howard Johnson in Corpus Christi, Texas, consisting of
140 rooms and remodeled in 2012; a Howard Johnson in Las Vegas,
Nevada, consisting of 110 rooms and remodeled in 2012; and an
independent hotel in Las Vegas, Nevada (formerly branded as a Value
Place), consisting of 121 rooms and also remodeled in 2012.

The Las Vegas hotels are located at one of the entrances to Nellis
Air Force base in North Las Vegas.  The Debtor owns the real
property and improvements, as well as the franchise rights to the
hotels (except for Las Vegas Value Place).

The Company sought Chapter 11 protection (Bankr. N.D. Tex. Case No.
14-34874) in Dallas, Texas, on Oct. 7, 2014.  The case is assigned
to Judge Barbara J. Houser.  The Debtor has tapped Mark Sean
Toronjo, Esq., at Toronjo & Prosser Law, as counsel.

The Debtor estimated assets and debt in the range of $10 million to
$50 million as of the bankruptcy filing.


CURTIS JAMES JACKSON: 50 Cent Files for Bankruptcy
--------------------------------------------------
Katy Stech, writing for The Wall Street Journal, reported that
rapper rapper 50 Cent, whose real name is Curtis James Jackson III,
filed for bankruptcy protection on July 13, halting a dispute over
a sex tape.

According to the Journal, the 40-year-old rapper filed for chapter
11 protection in the U.S. Bankruptcy Court in Hartford, Conn., on
Monday, the same day he was supposed to appear in a New York state
court to determine whether he owes punitive damages in a 2010
lawsuit filed by Lastonia Leviston, rapper Rick Ross's
ex-girlfriend.


DEMCO INC: Meeting of Creditors Adjourned to Sept. 21
-----------------------------------------------------
U.S. Trustee Joseph Allen adjourned the meeting of creditors of
Demco Inc. to Sept. 21, 2015, at 2:00 p.m.

The meeting will take place at the Office of the U.S. Trustee,
Olympic Towers, in Buffalo, New York.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                         About Demco Inc.

Demco, Inc., aka Decommissioning & Environmental Management
Company, is a specialty trade contractor based in West Seneca, New
York, which provides demolition services, nuclear work,
environmental clean-up, disaster response and a variety of other
services throughout the United States and, on a project-by-project
basis, internationally.  Some of Demco's better known demolition
projects in the past have included the Rocky Flats Nuclear Power
Plant, Yankee Stadium, the Orange Bowl, Buffalo Memorial
Auditorium, and the Sunflower Army Ammunition Plant.

Demco filed for Chapter 11 protection (Bankr. W.D.N.Y. Case No.
12-12465) on Aug. 6, 2012.  Bankruptcy Judge Michael J. Kaplan
presides over the case.  Daniel F. Brown, Esq., at Andreozzi,
Bluestein, Fickess, Muhlbauer Weber, Brown, LLP, represents the
Debtor in its restructuring effort.  Freed Maxick CPAs, P.C. serves
as its accountants, and Horizons Consulting, LLC, serves as its tax
consultants.  The petition was signed by Michael J. Morin,
controller.

Tracy Hope Davis, the U.S. Trustee for Region 2, appointed three
creditors to serve on the Official Committee of Unsecured
Creditors.  The Committee retained Amigone, Sanchez & Mattrey, LLP
as its counsel.

First Niagara Bank, the cash collateral lender, is represented by
William F. Savino, Esq., at Damon Morey.


DEWEY & LEBOEUF: Finance Director Testifies on CFO's Actions
------------------------------------------------------------
Sara Randazzo, writing for The Wall Street Journal, reported that a
key prosecution witness told jurors that Dewey & LeBoeuf LLP's
ex-head of finance played a direct role in manipulating the law
firm's books to appear in compliance with bank loans in what was
among the first testimony pointing directly to actions by a former
leader of the now-defunct firm.

According to the Journal, Francis Canellas, Dewey's former finance
director, said he and his boss, Dewey's ex-Chief Financial Officer
Joel Sanders, discussed ways to make the firm's net income appear
higher than it was.  Not all of the accounting adjustments were
legitimate, Mr. Canellas testified, and he and Mr. Sanders
discussed what they would tell auditors if prodded about the books,
the Journal related, citing Mr. Canellas.

                      About Dewey & LeBoeuf

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

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

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

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

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

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

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

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

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

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


DORAL FINANCIAL: Gets More Time to Remove Suits
-----------------------------------------------
U.S. Bankruptcy Judge Shelley Chapman extended the deadline for
Doral Financial Corp. to remove lawsuits until the earlier of (i)
the date an order is entered confirming a Chapter 11 plan in its
bankruptcy case, or (ii) 60 days after the appointment of a Chapter
7 trustee.

                       About Doral Financial

Doral Financial Corporation is a holding company whose primary
operating asset was equity in Doral Bank.  DFC maintains offices
in New York City, Coral Gables, Florida and San Juan, Puerto Rico.

DFC has three wholly-owned subsidiaries: (i) Doral Properties,
Inc., (ii) Doral Insurance Agency, LLC ("Doral Insurance"), and
(iii) Doral Recovery, Inc.

On Feb. 27, 2015, regulators placed Doral Bank into receivership
and named the Federal Deposit Insurance Corp. as receiver.  Doral
Bank served customers through 26 branches located in New York,
Florida, and Puerto Rico.

DFC sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
15-10573) in Manhattan on March 11, 2015.  The case is assigned to
Judge Shelley C. Chapman.

DFC estimated $50 million to $100 million in assets and $100
million to $500 million in debt as of the bankruptcy filing.

The Debtor tapped Ropes & Gray LLP as counsel.

The Debtor's Chapter 11 plan and Disclosure Statement are due July
9, 2015.  The initial case conference is set for April 10, 2015.

The U.S. trustee overseeing the Chapter 11 case of Doral Financial
Corp. appointed five creditors of the company to serve on the
official committee of unsecured creditors.


DORAL FINANCIAL: Needs Until Oct. 7 to Decide on Leases
-------------------------------------------------------
Doral Financial Corporation asks the United States Bankruptcy Court
for Southern District of New York to extend through and including
October 7, 2015, the time by which the Debtor must assume or reject
leases of nonresidential real property.

The Debtor explains that the Unexpired Leases are one of its
remaining assets that could generate value for its estate and
creditors and it has not yet had time to formulate a plan or to
appraise the potential value of the Unexpired Leases and the impact
of that value on a potential plan.

The Bankruptcy Court will convene a hearing on July 23, 2015 at
10:00 a.m. (Eastern Time) to consider approval of the extension
request.

The Debtor is represented by:
   
         Mark I. Bane, Esq.
         Meredith S. Tinkham, Esq.
         ROPES & GRAY LLP
         1211 Avenue of the Americas
         New York, NY 10036-8704
         Tel: 212 596-9000
         Fax: 212 596-9090
         Email: mark.bane@ropesgray.com
                meredith.tinkham@ropesgray.com

            -- and --

         James A. Wright III, Esq.
         ROPES & GRAY LLP
         Prudential Tower
         800 Boylston Street
         Boston, MA 02199-3600
         Tel: 617 951-7000
         Fax: 617 951-7050
         Email: james.wright@ropesgray.com

                            About Doral Financial

Doral Financial Corporation is a holding company whose primary
operating asset was equity in Doral Bank.  DFC maintains offices in
New York City, Coral Gables, Florida and San Juan, Puerto Rico.  

DFC has three wholly-owned subsidiaries: (i) Doral Properties,
Inc., (ii) Doral Insurance Agency, LLC ("Doral Insurance"), and
(iii) Doral Recovery, Inc.

On Feb. 27, 2015, regulators placed Doral Bank into receivership
and named the Federal Deposit Insurance Corp. as receiver.  Doral
Bank served customers through 26 branches located in New York,
Florida, and Puerto Rico.

DFC sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
15-10573) in Manhattan on March 11, 2015.  The case is assigned to
Judge Shelley C. Chapman.

DFC estimated $50 million to $100 million in assets and $100
to $500 million in debt as of the bankruptcy filing.

The Debtor tapped Ropes & Gray LLP as counsel.

The Debtor's Chapter 11 plan and Disclosure Statement are due July
9, 2015.  The initial case conference is set for April 10, 2015.

The U.S. trustee overseeing the Chapter 11 case of Doral Financial
Corp. appointed five creditors of the company to serve on the
official committee of unsecured creditors.


DORAL FINANCIAL: Seeks Oct. 7 Extension of Plan Filing Date
-----------------------------------------------------------
Doral Financial Corporation asks the United States Bankruptcy Court
for Southern District of New York to extend (1) the time period
during which the Debtor has the exclusive right to file a chapter
11 plan, through and including October 7, 2015, and (2) the period
during which the Debtor has the exclusive right to solicit
acceptances thereof through and including January 5, 2016.

The Debtor explained that though it has made substantial progress
in its case, it requires additional time to sell certain assets and
negotiate a Chapter 11 plan that will best maximize value for
creditors.

Since the appointment of the Official Committee of Unsecured
Creditors, the Debtor has worked closely with the UCC in exploring
opportunities to maximize recoveries for the parties-in-interest.
It is contemplated that this coordination and cooperation shall
continue, the Debtor tells the Court.  The Committee has indicated
it does not oppose the extension sought.

The extension of the Exclusive Periods will ensure that the Debtor
is able to capitalize on the progress it has made to date towards
its goal of successfully reorganizing, the Debtor tells the Court.

The Bankruptcy Court will convene a hearing on July 23, 2015, at
10:00 a.m. (Eastern Time), to consider approval of the extension
request.

The Debtor is represented by:
    
         Mark I. Bane, Esq.
         Meredith S. Tinkham, Esq.
         ROPES & GRAY LLP
         1211 Avenue of the Americas
         New York, NY 10036-8704
         Tel: 212 596-9000
         Fax: 212 596-9090
         Email: mark.bane@ropesgray.com
                meredith.tinkham@ropesgray.com

            -- and --

         James A. Wright III, Esq.
         ROPES & GRAY LLP
         Prudential Tower
         800 Boylston Street
         Boston, MA 02199-3600
         Tel: 617 951-7000
         Fax: 617 951-7050
         Email: james.wright@ropesgray.com

                   About Doral Financial

Doral Financial Corporation is a holding company whose primary
operating asset was equity in Doral Bank.  DFC maintains offices in
New York City, Coral Gables, Florida and San Juan, Puerto Rico.  

DFC has three wholly-owned subsidiaries: (i) Doral Properties,
Inc., (ii) Doral Insurance Agency, LLC ("Doral Insurance"), and
(iii) Doral Recovery, Inc.

On Feb. 27, 2015, regulators placed Doral Bank into receivership
and named the Federal Deposit Insurance Corp. as receiver.  Doral
Bank served customers through 26 branches located in New York,
Florida, and Puerto Rico.

DFC sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
15-10573) in Manhattan on March 11, 2015.  The case is assigned to
Judge Shelley C. Chapman.

DFC estimated $50 million to $100 million in assets and $100
million to $500 million in debt as of the bankruptcy filing.

The Debtor tapped Ropes & Gray LLP as counsel.

The Debtor's Chapter 11 plan and Disclosure Statement are due July
9, 2015.  The initial case conference is set for April 10, 2015.

The U.S. trustee overseeing the Chapter 11 case of Doral Financial
Corp. appointed five creditors of the company to serve on the
official committee of unsecured creditors.


EAGLEVIEW TECHNOLOGY: Moody's Gives B3 CFR, Rates 1st Lien Loans B2
-------------------------------------------------------------------
Moody's Investors Service assigned to EagleView Technology
Corporation a first-time B3 Corporate Family Rating (CFR) and B3-PD
Probability of Default Rating (PDR).  Concurrently, Moody's
assigned a B2 rating to the proposed first-lien credit facilities,
consisting of a $240 million senior secured term loan and $20
million senior secured revolving credit facility (RCF), and Caa2
rating to the new $100 million second-lien senior secured term
loan.  The rating outlook is stable.

Proceeds from the credit facilities plus approximately $411 million
of common equity from funds managed by private equity firm Vista
Equity Partners will be used to finance the leveraged buyout (LBO)
of EagleView for a net purchase price of approximately $715 million
(excluding transaction fees, expenses and balance sheet cash).
Initially, the new debt instruments will be issued by a
newly-formed entity named Phoenix Merger Sub, Inc.  This entity
will subsequently merge into EagleView, which will become the
surviving issuer following transaction closing.

Ratings Assigned:

Issuer: EagleView Technology Corporation

  Corporate Family Rating -- B3

  Probability of Default Rating -- B3-PD

  $20 Million Senior Secured Revolver due 2020 -- B2 (LGD-3)

  $240 Million First-Lien Senior Secured Term Loan due 2022
  -- B2 (LGD-3)

  $100 Million Second-Lien Senior Secured Term Loan due 2023 –
   Caa2 (LGD-5)

The assigned ratings are subject to review of final documentation
and no material change in the terms and conditions of the
transaction as advised to Moody's.

RATINGS RATIONALE

The B3 CFR reflects EagleView's small size, high pro forma
leverage, lack of meaningful international diversification,
exposure to the cyclical housing market and majority ownership by a
private equity sponsor.  The rating is supported by EagleView's
position as the leading provider of high resolution aerial imagery
and 3D measurement software solutions to government and commercial
customers with virtually no significant competition, long-standing
and loyal customer relationships, good revenue visibility and an
"asset-lite" operating model with a history of profitability and
free cash flow generation.  EagleView's low production costs for
image capture combined with its patented technology, cumulative R&D
spend and extensive image library help establish a scalable
business model with good operating leverage.

Pro forma for the LBO, leverage is roughly 8x total debt to EBITDA,
which is high for the rating category (as of March 31, 2015,
incorporating Moody's standard operating lease adjustment and
stock-based compensation expense, but excluding non-recurring
litigation costs and transaction fees).  However, Moody's believes
the business can accommodate a more leveraged capital structure due
to EagleView's good revenue visibility and history of positive free
cash flow generation.  This is buttressed by a high margin
services-based revenue model characterized by multi-year contracts
and 99% retention rates in the government business, high
reoccurring revenue streams and high-demand products embedded in
customer workflows, which collectively create a loyal client base.
De-leveraging is expected to be fueled by organic revenue growth
and EBITDA expansion given the favorable opportunities for further
market penetration and growth from new verticals.  Barring another
leveraging event, this should reduce total leverage by mid-2016 to
the 6.5x area, consistent with the median leverage for B3-rated
global cross-industry peers.

Seasonal revenue variation from government and commercial customers
cause free cash flow to be weakest in the fourth fiscal quarter and
strongest in the second fiscal quarter.  Despite this unevenness,
we project EagleView will convert around 30-40% of EBITDA to
positive free cash flow (assuming no cash distributions) enabling
it to comfortably meet cash needs.  The company is expected to
maintain good liquidity with cash balances of at least $20 million
and full access to the $20 million revolving credit facility.

Rating Outlook
The stable rating outlook reflects our view that the US economy
will continue to grow modestly to support organic revenue growth in
the mid-single digit range with 30-35% adjusted EBITDA margins
resulting in de-leveraging to the 6.5x area (Moody's adjusted) over
the rating horizon.  Moody's project positive free cash flow
generation of roughly $15-20 million over the coming year (assuming
no dividends).

What Could Change the Rating -- UP

An upgrade could occur if EagleView exhibits revenue growth and
EBITDA margin expansion leading to consistent and increasing free
cash flow generation and sustained reduction in total debt to
EBITDA leverage below 6.0x (Moody's adjusted) with free cash flow
to adjusted debt of at least 5%.  The company would also need to
maintain a good liquidity position and exhibit prudent financial
policies to be considered for an upgrade.

What Could Change the Rating -- DOWN

Ratings could experience downward pressure if financial leverage is
sustained above 8.5x (Moody's adjusted) or if EBITDA growth is
insufficient to maintain positive free cash flow generation.
EagleView could also be downgraded if market share erodes, services
revenue deteriorates, liquidity weakens, or the company engages in
leveraging acquisitions or significant shareholder distributions.

Headquartered in Seattle, Washington, EagleView Technology
Corporation is a leading provider of 3D aerial measurement services
to the government, property & casualty insurance and residential
construction markets.  The company has over 400 employees and
operates primarily in the US. Reported revenue totaled about $137
million for the twelve months ended March 31, 2015.



EAGLEVIEW TECHNOLOGY: S&P Assigns Prelim. 'B' CCR, Outlook Stable
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned a preliminary 'B'
corporate credit rating to Bothell, Wash.-based EagleView
Technology Corp.  The outlook is stable.

At the same time, S&P assigned a preliminary 'B' issue-level rating
and preliminary '3' recovery rating to the company's $20 million
revolving credit facility due 2020 and its $240 million first-lien
term loan due 2022.  The preliminary '3' recovery rating indicates
S&P's expectation for meaningful (50%-70%; at the higher end of the
range) recovery in the event of payment default.

S&P also assigned its preliminary 'CCC+' issue-level rating and
preliminary '6' recovery rating to the company's proposed $100
million second-lien term loan due 2023.  The preliminary '6'
recovery rating indicates S&P's expectation for negligible (0%-10%)
recovery in the event of a payment default.

S&P will finalize its preliminary ratings following a review of the
executed closing documents.

The preliminary rating on EagleView reflects S&P's pro forma
adjusted leverage near 7x as of May 2015, which we expect will fall
to around 6x during the next 12 months as the company continues to
generate good revenue growth and achieve margin expansion, given
its scalable and recurring business model.

The stable outlook reflects S&P's expectation that EagleView will
continue to generate good revenue growth and positive free
operating cash flow, resulting in EBITDA expansion and modest
deleveraging over the next 12 months.



ERG INTERMEDIATE: AP Services' Rebecca Roof Approved as CRO
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized ERG Intermediate Holdings, LLC, et al., to employ AP
Services, LLC, and designate Rebecca A. Roof as chief restructuring
officer, nunc pro tunc to the Petition Date.

The Official Committee of Unsecured Creditors, in its objection,
related that the regime put in place by the lender is inadequate to
the essential task of maximizing the value of the California assets
in a robust marketing and sale process.  Equally the case, the
Committee does not believe it is appropriate to install a caretaker
for the estate hand-picked by the lender and saddle the estates
with an annualized $2.1 million salary for a CRO who does not have
experience running an E&P company or marketing and selling E&P
assets to maximize their value for all stakeholders.

The Debtors and CLMG Corp. responded to the objection by defending
the hiring of AP Services and Ms. Roof.

CLMG Corp., in its capacities as (a) administrative agent and
collateral agent for itself and on behalf of certain secured
lenders under the Debtors' prepetition secured credit agreement,
and (b) administrative agent under that certain Senior Secured
Superpriority Debtor-in-Possession Credit Agreement, noted that the
Committee's chief objection to Ms. Roof's retention as CRO is that
she is not an investment banker.  In response, CLMG says a person
does not have to be an investment banker to be retained by a
bankruptcy estate.  The Debtors point out that Ms. Roof, is
nationally known and has been involved in notable sophisticated
reorganization and sale cases such as Eastman Kodak Company,
Lyondell Chemical Company, Taro Pharmaceuticals, Anchor Glass and
Atkins Nutritionals.

Additionally, according to CLMG, the Committee did not support with
facts the argument that the Debtors' estates would be better served
by an investment banker than by Ms. Roof because the Debtors are
engaged in a process to sell their assets.

The Debtors, in response to the objection of the Committee, stated
that they believe that they have hired the best candidates to
fulfill the role of trusted advisors under these circumstances.

Contrary to assertions by the Committee, the Debtors say that they
selected AP Services on its own volition.

"It is correct that the secured lender requested that the Debtors
retain a chief restructuring officer and that the secured lender
identified AP Services as an acceptable candidate.  This is a
rather customary and normal practice.  However, the Debtors felt
that if they did not like AP Services or any other candidate
suggested by the secured lender that they could have raised the
possibility of other candidates. In fact, the Debtors interviewed
another candidate that was not identified by the secured lender but
chose AP Services.  In addition, the Debtors also interviewed the
Committee's current financial advisor, Conway McKenzie, Inc., but
did not select them," the Debtors stated.

CLMG Corp. is represented by:

         Thomas E Lauria, Esq.
         WHITE & CASE LLP
         Southeast Financial Center, Suite 4900
         200 South Biscayne Blvd.
         Miami, FL 33131
         Tel: (305) 371-2700
         Fax: (305) 358-5744
         E-mail: tlauria@whitecase.com

              - and -

         Craig H. Averch, Esq.
         Roberto J. Kampfner, Esq.
         WHITE & CASE LLP
         633 West Fifth Street, Suite 1900
         Los Angeles, CA 90071
         Tel: (213) 620-7700
         Fax: (213) 452-2329
         E-mail: caverch@whitecase.com
                  rkampfner@whitecase.com

                       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: Court Sets Claims Bar Dates
---------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
established these deadlines in relation to the Chapter 11 cases of
ERG Intermediate Holdings, LLC, et al.:

   1. June 30, 2015, for any individual or entity to file proofs of
claim against a Debtor that arose or is deemed to have arisen prior
to commencement of the Chapter 11 cases on April 30, 2015; and

   2. Oct. 27, 2015, for governmental units to file proofs of claim
against the Debtor must be filed on or before (the "Government Bar
Date").

Proofs of claim must be filed either by:

   (i) mailing to:

         ERG Intermediate Holdings, LLC Claims Processing Center
         c/o Epiq Bankruptcy Solutions, LLC
         P.O. Box 4419
         Beaverton, OR 97076-4419

                  or

  (ii) delivering the original proof of claim by hand or overnight
courier to:

         ERG Intermediate Holdings, LLC Claims Processing Center
         c/o Epiq Bankruptcy Solutions, LLC
         10300 SW Allen Blvd.
          Beaverton, OR 97005

Proofs of claim submitted by facsimile or electronic mail will not
be accepted and will not be deemed properly filed.

                       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: Pachulski Stang Okayed as Panel's Lead Counsel
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized the Official Committee of Unsecured Creditors in the
Chapter 11 cases of ERG Intermediate Holdings, LLC, et al., to
retain Pachulski Stang Ziehl & Jones LLP as lead counsel nunc pro
tunc to May 12, 2015.

PSZ&J, as its lead counsel, is expected to, among other things:

   1. assist, advise and represent the Committee in any manner
relevant to reviewing and determining the Debtors' rights and
obligations under leases and other executory contracts;

   2. assist, advise and represent the Committee in investigating
the acts, conduct, assets, liabilities and financial condition of
the Debtors, the Debtors' operations and the desirability of the
continuance of any portion of those operations, and any other
matters relevant to these Cases or to the formulation
of a plan; and

   3. assist, advise and represent the Committee in connection
with any sale of the Debtors' assets.

The professionals and paralegals designated to represent the
Committee and their current standard hourly rates are:

         Robert J. Feinstein               $995
         Jeffrey N. Pomerantz              $895
         John A. Morris                    $875
         Shirley S. Cho                    $750
         Maria A. Bove                     $725
         Gail S. Greenwood                 $675
         Patricia Jeffries                 $305

PSZ&J believes that it is more appropriate to charge the expenses
to the clients incurring them than to increase the hourly rates and
spread the expenses among all clients.

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

The firm can be reached at:

         Jeffrey N. Pomerantz, Esq.
         Robert J. Feinstein, Esq.
         PACHULSKI STANG ZIEHL & JONES LLP
         10100 Santa Monica Boulevard, 13th Floor
         Los Angeles, CA 90067
         Tel: (310) 277-6910
         Fax: (310) 201-0760
         E-mail: jpomerantz@pszjlaw.com
                 rfeinstein@pszjlaw.com

                       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: Searcy & Searcy OK'd as Committee's Local Counsel
-------------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized the Official Committee of Unsecured Creditors in the
Chapter 11 cases of ERG Intermediate Holdings, LLC, et al., to
retain Searcy & Searcy, P.C., as its local counsel.

The firm can be reached at:

         Jason R. Searcy, Esq.
         SEARCY & SEARCY P.C.
         446 Forest Square
         P.O. Box 3929
         Longview, TX 75606
         Tel: (903) 757-3399
         Fax: (903-757-9559
         E-mail: jsearcy@jrsearcylaw.com

                       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.


EXTERRAN CORP: S&P Assigns BB- Corp. Credit Rating, Outlook Stable
------------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BB-'
corporate credit rating to Exterran Corp.  The outlook is stable.

At the same time, S&P assigned its 'BB+' issue-level rating to
Exterran Energy Solutions L.P..'s $750 million senior secured
revolving credit facility due 2020.  The recovery rating on the
facility is '1', reflecting S&P's expectation of very high
(90%-100%) recovery in the event of a default.  S&P also assigned
its 'BB-' issue-level rating to its senior unsecured notes due
2022. The recovery rating on the notes is '3', indicating S&P's
expectation for meaningful recovery (50%-70%; lower half of the
range) in the event of a payment default.

"The stable rating outlook reflects our expectation that the
company will sustain strong margins in its contract operations
businesses and continue to execute projects from the backlog in its
fabrication business while maintaining adequate liquidity and
adjusted debt to EBITDA below 3x," said Standard & Poor's credit
analyst Geoffrey Mrema.

S&P could lower the ratings if adjusted debt to EBITDA exceeds 3x
due to operational underperformance, a prolonged period of poor
commodity prices dampen demand for compression services, or
Exterran Corp. primarily debt finances its future growth
initiatives.

Though unlikely in the next few years, S&P could raise the ratings
if it believes the company will sustain debt to EBITDA of about 2x
even under a weak margin environment while improving the business
risk profile as a result of additional long-term contracts or an
improved asset base.



EXTERRAN ENERGY: Moody's Rates $400MM Sr. Unsecured Notes 'B1'
--------------------------------------------------------------
Moody's Investors Service assigned first time ratings to Exterran
Energy Solutions L.P including a B1 for its proposed $400 million
senior unsecured notes.  Moody's also assigned a Ba3 Corporate
Family Rating (CFR), Ba3-PD Probability of Default Rating (PDR) and
a SGL-2 Speculative Grade Liquidity Rating.  The rating outlook is
stable.

The proceeds of the notes along with about $335 million of drawings
under a new five year $750 million secured revolving credit
facility will be used to pay off debt in its entirety at Exterran
Holdings Inc. and to pay fees and expenses.

These ratings were assigned:

Exterran Energy Solutions LP

Corporate Family Rating, assigned Ba3
Probability of Default Rating, assigned Ba3-PD
Speculative Grade Liquidity Rating, assigned SGL-2
$400 million senior unsecured notes, assigned B1 (LGD5)

The outlook is stable.

RATINGS RATIONALE

Exterran Energy's Ba3 Corporate Family Rating (CFR) is supported by
its large fleet size and diversification in terms of customers and
geography.  The company also has moderate leverage and significant
contracted revenue, which makes up about 80% of 2015 EBITDA and
supports leverage metrics in a downturn.  These strengths are
tempered by the company's exposure to fluctuations in natural gas
production and risks associated with conducting operations in
international markets.

Exterran Energy is one of the largest international natural gas
compression services companies with 986 compressor units comprising
approximately 1.2 million aggregate horsepower.  The company
provides contract operations and fabrication services in Latin
American and the Eastern hemisphere.

Pro forma for the $400 million notes issuance, Exterran Energy will
have consolidated debt of approximately $770 million including
operating lease adjustments of $32 million.  The company also plans
to decrease its outstanding revolver balance to around $150 million
by the end of 2016 from approximately $300 million as of June 30,
2015 through the application of anticipated free cash flow.  The
modest amount of debt along with cash flow visibility from the
operations contracts, fabrication backlog, and proceeds from the
Venezuela settlement will maintain moderate debt to EBITDA around
2.4x metrics through 2016.  The company is targeting to maintain
reported debt to EBITDA below 2.5x during this downturn.

Exterran Energy's SGL-2 Speculative Grade Liquidity Rating reflects
good liquidity with approximately $25 million of cash and
anticipated availability of about $315 million (after $89 million
in letters of credit) under its $750 million revolving credit
facility at June 30, 2015.  Moody's expects $165 million of free
cash flow through June 2016, which includes about $100 million of
proceeds from the settlement with the Venezuela government.  The
revolving credit facility matures in July 2020 and will be subject
to three financial covenants: EBITDA to interest of not less than
2.25 to 1; total debt to EBITDA of not greater than 4.5:1 and
senior secured debt to EBITDA of not greater than 2.75:1.  The
company should be well in compliance with the covenants through
June 2016.  Exterran Energy has limited other sources of alternate
liquidity given that its assets are largely encumbered.

Exterran Energy's $750 million revolving credit facility is secured
by a first priority lien on all of its North American assets.  The
credit facility does not have a direct lien on the assets owned by
the foreign subsidiaries, but instead has a pledge on 65% of the
stock of those subsidiaries.  The $400 million of senior notes due
2022 is unsecured.  The $400 million senior notes are rated B1, or
one notch beneath the CFR, because of their junior position to the
credit facility under Moody's Loss Given Default (LGD)
Methodology.

The stable outlook reflects that near term cash flow visibility and
modest debt that will help maintain moderate leverage during the
current commodity price downturn.

The ratings could be considered for an upgrade if Exterran Energy
EBITDA appears sustainable above $300 million while leverage
remains below 2.5x.

The rating could be downgraded if Exterran Energy's if EBITDA
appears unsustainable above $200 million, and leverage appears
likely to be sustained above 3.5x, which is most likely to occur as
a result of a leveraging acquisition or from a disruption in its
international operations.

Exterran Energy Solutions L.P., is a wholly owned subsidiary of
Exterran Corporation, a to be publicly listed international
compression services and global fabrication company based in
Houston, Texas. Exterran Energy is a spin-off of Exterran Holdings,
Inc.'s (Ba2) international services and US-based fabrication
businesses serving the global market.



F&H ACQUISITION: Judge Extends Deadline to Remove Suits to Sept. 8
------------------------------------------------------------------
U.S. Bankruptcy Judge Kevin Gross has given F&H Acquisition Corp.
until Sept. 8, 2015, to file notices of removal of lawsuits
involving the company and its affiliates.

                   About F & H Acquisition Corp.

Wichita, Kansas-based F & H Acquisition Corp., et al., owners of
the Fox & Hound, Champps, and Bailey's Sports Grille casual dining
restaurants, filed sought Chapter 11 protection (Bankr. D. Del.
Lead Case No. 13-13220) on Dec. 16, 2013, to quickly sell their
assets.

As of the bankruptcy filing, the Debtors had 101 restaurants
located in 27 states and 6,000 employees.  F & H disclosed $122
million in assets and $123 million in liabilities as of the Chapter
11 filing.

The Debtors are represented by Robert S. Brady, Esq., Robert F.
Poppiti, Jr., Esq., and Rodney Square, Esq., at Young, Conaway,
Stargatt & Taylor, LLP of Wilmington, DE; and Adam H. Friedman,
Esq., Jordana L. Nadritch, Esq., and Jonathan T. Koevary, Esq. at
Olshan Frome Wolosky, LLP of New York, NY.  Imperial Capital LLC as
financial advisor; and Epiq Bankruptcy Solutions as claims and
noticing agent.

The Official Committee of Unsecured Creditors is represented by
Bradford J. Sandler, Esq., at Pachulski Stang Ziehl & Jones, LLP,
in Wilmington; and Jeffrey N. Pomerantz, Esq., at Pachulski Stang
Ziehl & Jones, LLP, in Los Angeles, California.

By order dated Feb. 28, 2014, the Court approved the sale of
substantially all of the assets pursuant to an Asset Purchase
Agreement, dated as of Feb. 7, 2014, by and among the Debtors and
Cerberus Business Finance, LLC, as buyer.  The sale closed on March
12, 2014.


FANNIE MAE & FREDDIE MAC: Updated Conservatorship Litigation Chart
------------------------------------------------------------------
At http://bankrupt.com/gselitigationsummary201507.pdfeditors of
the Troubled Company Reporter and Class Action Reporter have posted
a chart, updated on July 14, 2015, organizing information about the
25 lawsuits complaining about how the Department of the Treasury
and the Federal Housing Finance Administration are handling Fannie
Mae and Freddie Mac's conservatorship proceedings.  Unaltered, this
chart may be freely shared with anyone for any purpose,
notwithstanding that it is copyrighted by Bankruptcy Creditors'
Service, Inc., and Beard Group, Inc., and all rights are reserved
by the publishers.  For additional information, contact Peter A.
Chapman at peter@beard.com by e-mail or (215) 945-7000 by
telephone.

The newest lawsuit challenging the government's action is Saxton v.
FHFA, Case No. 15-cv-00047 (N.D. Iowa).  The plaintiffs are
represented by Alexander M. Johnson and Sean P. Moore at Brown,
Winick, Graves, Gross, Baskerville and Schoenebaum, P.L.C.  The
government's motions to dismiss are scheduled to be filed by Sept.
4, 2015, and briefing on those motions to dismiss should be
completed by Nov. 23, 2015.

Last week, the Honorable Margaret M. Sweeney entered an order in
Fairholme v. U.S., Case No. 13-465 (Ct. Fed. Cl.), setting Sept. 4,
2015, as the date to complete jurisdictional discovery, and
directing the parties to file a status report by Sept. 18, 2015,
letting her know how they want to proceed.  When jurisdictional
discovery is completed, Fairholme should have what it needs to
respond to the Government's motion to dismiss (Doc. 20, filed Dec.
9, 2013) Fairholme's complaint.  The completion of jurisdictional
discovery in Fairholme v. U.S. will also trigger in the Court of
Federal Claims:

    (A) the filing of the Government's motion to dismiss Arrowood
v. U.S.;

    (B) setting deadlines for the plaintiffs to file their
responses to the Government's motions to dismiss Cacciapalle v.
U.S., Fisher v. U.S., and Washington Federal v. U.S.; and

    (C) the filing of the Government's answers to or motions to
dismiss the complaints filed in Rafter v. U.S. and Reid v. U.S.

In Perry v. Lew, No. 14-5243 (D.C. Cir.), challenging Judge
Lamberth's dismissal of Fannie and Freddie shareholders' lawsuits
filed in the U.S. District Court for the District of Columbia, two
opening briefs have been filed by:

    (1) the Institutional Appellants -- Perry Capital is
represented by Theodore B. Olson and Matthew D. McGill at Gibson,
Dunn & Crutcher LLP; Arrowood Indemnity is represented by Dentons
US LLP; and Fairholme is represented by Charles C. Cooper at Cooper
& Kirk PLLC; and

    (2) the Class Appellants -- the shareholder class is
represented by Hamish P.M. Hume at Boies, Schiller & Flexner LLP,
and lawyers at Bernstein Litowitz Berger & Grossmann LLP; Grant &
Eisenhofer; Kessler Topaz Meltzer & Check, LLP; and Pomerantz
Grossman Hufford Dahlstron & Gross LLP.  

Eight amici curiae have appeared in the appellate proceeding before
the D.C. circuit in support of the shareholder-appellants:

    (a) the Center for Individual Freedom, represented by Myron T.
Steele, Esq., at Potter Anderson & Corroon LLP (former Chief
Justice of the Supreme Court of Delaware, a Judge of the Superior
Court, and a Vice Chancellor of the Delaware Court of Chancery),
arguing that the Net Worth Sweep is unenforceable and void ab
initio under Delaware General Corporation Law Sec. 151(c);

    (b) the Independent Community Bankers of America, the
Association of Mortgage Investors, former FDIC chairman William M.
Isaac, and bank consultant Robert H. Hartheimer at Hartheimer LLC,
represented by Dechert LLP, saying something's very wrong when
shareholders would fair better and their rights are superior in a
liquidation rather than a rehabilitation;

    (c) 60 Plus Association, Inc., represented by Holland & Knight
LLP, examining the conservator-conservatee relationship and the
duties of loyalty and prudence a conservator owes a conservatee;

    (d) the National Black Chamber of Commerce (supporting neither
party), represented by Squire Patton Boggs (US) LLP, tell the court
about Fannie and Freddie's importance in providing affordable
conventional mortgages to African-Americans;

    (e) Investors Unite, represented by Mr. Krimminger, see n. 3,
supra, offering his unique perspective as one of HERA's authors
about how HERA was modeled on FDIC legislation, that nobody
authoring HERA contemplated anything like the Third Amendment, and
the Third Amendment is wrong;

    (f) former Fannie CFO J. Timothy Howard and the Coalition for
Mortgage Security, represented by Consovoy McCarthy Park PLLC,
providing the appellate tribunal with his insights into GSE
accounting, his conclusion that the GSEs didn't need cash from
Treasury to solve a liquidity problem, and how the one-sided nature
of the deal makes it grossly unfair;

    (g) Pershing Square Capital Management, L.P. (the GSEs' largest
shareholder), represented by Jones Day, talking about statutory
construction, suggest rules for reading HERA, and urging the
appeals court to reverse Judge Lamberth's decision and tell him to
tell the conservator to conserve; and

    (h) Prof. Jonathan R, Macey at Yale Law School providing
additional information, based on his research and expertise, about
how the Third Amendment constitutes an improper regulatory takings
by the government from GSE shareholders.  

Final briefs in Perry v. Lew are due Nov. 30, 2015.


FIVE S PLUS: US Trustee Unable to Form Creditors' Committee
-----------------------------------------------------------
The U.S. trustee overseeing the Chapter 11 case of Five S Plus, LLC
wasn't able to form a committee of unsecured creditors due to
insufficient number of creditors willing to serve on the committee,
according to a filing with the U.S. Bankruptcy Court for the
Western District of Louisiana.

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense.  They may investigate the debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

                         About Five S Plus

Five S Plus, LLC, doing business as River Rouge Plantation of
Louisiana, commenced a Chapter 11 bankruptcy case (Bankr. W.D. La.
Case No. 15-80398) on April 10, 2015, in Alexandria, Louisiana,
without stating a reason.  Aaron L. Slayter, Jr., signed the
petition as managing member.  

The case is assigned to Judge Henley A. Hunter.  Laramie Henry,
Esq., serves as counsel to the Debtor.

Five S Plus -- http://www.fivesplus.com/-- owns the River Rouge
Plantation, a 5,000-acre property located on the banks of the Red
River, stretching from Boyce to Colfax, Louisiana.  From then until
now, the property has been used for cattle to graze, farming, and
recreation.  This property, formerly called Mead Plantation, or
Meadland, dates back to the early 1800s, when it was owned by
Joshua R. Mead and his family.  The land changed hands several
times, and in 2003, the farm was purchased by the Slayter family,
owners of Five S Plus cattle company.


FRED FULLER: July 15 Filing of Disclosure Statement and Plan
------------------------------------------------------------
Judge J. Michael Deasy of the U.S. Bankruptcy Court for the
District of New Hampshire, at the behest of Fred Fuller Oil &
Propane Co., Inc., extended the period by which the Debtor must
file its Disclosure Statement and Plan to July 15, 2015.

William S. Gannon, Esq., at William S. Gannon, PLLC, in Manchester,
New Hampshire, said he has prepared and is in the process of
reviewing with the Debtor's Chief Restructuring Officer a draft
Disclosure Statement and Plan of Reorganization and they need a few
days to discuss revisions to the Disclosure Statement and Plan and
finalize the documents.  Mr. Gannon added that since the hearing on
the Disclosure Statement and Plan is not scheduled until October
20, 2015, the extension will not delay the confirmation process or
prejudice any creditor or party in interest.

The Debtor is represented by:

          William S. Ganon, Esq.
          WILLIAM S. GANON, PLLC
          889 Elm Street, 4th Floor
          Manchester NH 03101
          Telephone: (603)621-9500
          Email: bgannon@gannonlawfirm.com
   
                  About Fred Fuller

Hudson, New Hampshire-based Fred Fuller Oil & Propane Co.,
Inc.,
the largest heating oil company in the state, serving about
30,000 
New Hampshire customers.  It sought Chapter 11 protection
(Bankr.
D. N.H. Case No. 14-12188) in Manchester, New Hampshire,
on Nov.
10, 2014, without stating a reason.  It estimated $10
million to 
$50 million in assets and debt.  The Nov. 10, 2014
court filing
 shows that the Debtor has about $13.5 million in
debts.  Jeremy 
Blackman at Concord Monitor reports that the
Debtor owes more than 
$276,000 to Harvard Pilgrim Health Care
and nearly $94,000 to the
 city of Laconia and the towns of
Hudson, Milford and Northfield.



According to Concord Monitor, the bankruptcy case was initially

filed on Nov. 10 under Chapter 7, but that has since
been
terminated and replaced with a Chapter 11 restructuring
proposal.



William S. Gannon, Esq., at William S. Gannon PLLC, in
Manchester,
 serves as counsel to the Debtor.  Fredrick J.
Fuller, the
president, signed the bankruptcy petition.



On Feb. 12, 2015, the Office of the United States Trustee appointed
an Official Committee of Unsecured Creditors.  The Committee
selected Brinkman Portillo Ronk, APC, as its counsel with Deming

Law Office acting "of counsel."


GARY P. ELIOPOULOS: Bankr. Court Dismisses PAH Co.'s Suit
---------------------------------------------------------
Judge Erik P. Kimball of the United States Bankruptcy Court for
South Dakota of Florida, West Palm Beach Division, entered a
judgment in favor of Gary P. Eliopoulus in the adversary complaint
filed by PAH Co. against the Debtor.

In 2000, PAH purchased the historic Leh-O-Mar building at 700 South
Olive Avenue in West Palm Beach, Florida.  PAH contracted with
Europa Building Associates, Inc., a general contractor, to modify
the building.  PAH retained Mr. Eliopoulos' firm, Eliopoulos
Architecture, Inc., to provide architectural services for the
project.  In December, 2001, Europa sued PAH over contract disputes
and to foreclose on a claim of lien.  PAH counter-sued Europa, and
also sued both EA and Mr. Eliopoulos for professional negligence.
In its proof of claim in the Chapter 7 case, PAH alleges damages
against Mr. Eliopoulos in excess of $641,000.

PAH presents six counts in its Complaint: Count I for denial of
discharge under Section 727(a)(2)(A) of the Bankruptcy Code; Count
II for denial of discharge under Section 727(a)(7); and Counts III
through VI for exception from discharge under Section 523(a)(6)
based on fraud in the inducement, intentional interference,
conspiracy and intentional breach of the Florida Building Code.

The adversary case is PAH CO., Plaintiff, v. GARY P. ELIOPOULOS,
Defendant, ADV. CASE NO. 11-02657-EPK (Bankr., S.D. Fla.).

The bankruptcy case is In re: GARY P. ELIOPOULOS, Chapter 7,
Debtor, Case No. 11-19665-EPK, (Bankr. S.D. Fla.).

A full-text copy of Judge Kimball's Memorandum Opinion dated June
26, 2015, is available at http://is.gd/mwWz6dfrom Leagle.com.


GENERAL MOTORS: Stock Falls, Risk and Vulnerability Rise
--------------------------------------------------------
Lou Whiteman, writing for The Deal, reported that shares of General
Motors Co. hit a dubious milestone last week, falling below the
level of the company's 2010 initial public offering price of $33
apiece, highlighting the automaker's continued vulnerability.

According to the report, the weakness, attributable to general
market malaise, fears over slower growth in China and uncertainty
over the sustainability of near-record U.S. auto sales, has erased
all of the gains GM made earlier this year after activists first
pressured the company to return more cash to shareholders.
Detroit-based GM capitulated to some of those demands in March,
increasing its dividend and announcing plans to repurchase $5
billion of its stock, the report noted.

                    About General Motors

With its global headquarters in Detroit, Michigan, General Motors
-- http://www.gm.com/-- is one of the world's largest automakers,


traces its roots back to 1908.

General Motors Co. was formed to acquire the operations of
General Motors Corp. through a sale under 11 U.S.C. Sec. 363
following Old GM's bankruptcy filing.  The U.S. government
provided financing.  The deal was closed July 10, 2009, and Old GM
changed its name to Motors Liquidation Co.

Old GM -- General Motors Corporation -- filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on June 1,
2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  The Debtors tapped Weil, Gotshal & Manges LLP
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel; and Morgan Stanley, Evercore Partners and the Blackstone
Group LLP as financial advisor.  Garden City Group is the claims
and notice agent of the Debtors.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Unsecured
Creditors Holding Asbestos-Related Claims.  Lawyers at Kramer
Levin Naftalis & Frankel LLP served as bankruptcy counsel to the
Creditors Committee.  Attorneys at Butzel Long served as counsel
on supplier contract matters.  FTI Consulting Inc. served as
financial advisors to the Creditors Committee.  Elihu Inselbuch,
Esq., at Caplin & Drysdale, Chartered, represented the Asbestos
Committee.  Legal Analysis Systems, Inc., served as asbestos
valuation analyst.

The Bankruptcy Court entered an order confirming the Debtors'
Second Amended Joint Chapter 11 Plan on March 29, 2011.  The Plan
was declared effect on March 31.

On Dec. 15, 2011, Motors Liquidation was dissolved.  On the
Dissolution Date, pursuant to the Plan and the Motors Liquidation
Company GUC Trust Agreement, dated March 30, 2011, between the
parties thereto, the trust administrator and trustee
-- GUC Trust Administrator -- of the Motors Liquidation Company
GUC Trust, assumed responsibility for the affairs of and certain
claims against MLC and its debtor subsidiaries that were not
concluded prior to the Dissolution Date.


GFI GROUP: Fitch Hikes Senior Unsecured Debt Rating From 'BB+'
--------------------------------------------------------------
Fitch Ratings upgraded GFI Group, Inc.'s senior unsecured debt to
'BBB-' from 'BB+'. GFI's long- and short-term Issuer Default
Ratings (IDRs) remain unchanged at 'BB+/B' and the Rating Outlook
remains Positive.

KEY RATING DRIVERS

SENIOR UNSECURED DEBT

The upgrade reflects the introduction of an irrevocable and
unconditional guarantee provided by BGC Partners, Inc. (BGC,
'BBB-/F3'; Stable Outlook) with respect to GFI's $240 million of
senior unsecured debt due 2018. The guarantee ranks pari passu with
BGC's senior unsecured obligations.

BGC's motivation for the introduction of the guarantee is to obtain
a rating upgrade on GFI's existing $240 million of senior unsecured
debt, which bears interest based on a ratings-based formula.
Depending on the rating actions of other nationally recognized
statistical rating organizations, the interest rate on GFI's debt
may step down to 8.375% from 9.375%, which would result in annual
interest savings of $2.4 million. BGC is the majority owner of
GFI.

GFI's IDRs and Positive Outlook are unaffected at this time given
that the guarantee is specifically applicable to the existing
senior unsecured debt of GFI, and no other current/future
indebtedness or obligations of GFI. For example, at March 31, 2015,
GFI had $60 million outstanding under its bank credit facility.
BGC's ratings are also unaffected by the assumption of the debt
obligations, via the guarantee, as Fitch's analysis of BGC already
considered BGC's leverage and interest coverage on both a
consolidated (inclusive of GFI) and stand-alone basis.

Fitch continues to view GFI as a strategically important subsidiary
of BGC and therefore, GFI's IDR is notched one notch below BGC's.
Fitch's view of GFI as a strategically important subsidiary of BGC
reflects the majority ownership and voting control of GFI by BGC
and the strong financial and strategic synergies between the two
companies. Fitch does not view GFI as a core subsidiary of BGC
given the lack of an explicit assumption of all of GFI's
current/future obligations by BGC and BGC's explicit statement to
maintain, at this time, separately branded operations.

The Positive Outlook continues to reflect the potential for
additional steps that might be taken by BGC and GFI over the
Outlook horizon which could result in an equalization of the
ratings between the two entities, such as a more formal integration
of GFI, a broader guarantee of GFI's current/future obligations,
extinguishment of all of GFI's unguaranteed senior obligations
and/or cessation of operations as separately branded operations.

RATING SENSITIVITIES

SENIOR UNSECURED DEBT

Given the presence of an irrevocable and unconditional guarantee
provided by BGC, GFI's senior unsecured debt rating is expected to
move in step with any changes in BGC's ratings.

BGC's ratings could be negatively impacted by a failure to achieve
planned cost synergies, or an inability to sustain EBITDA or reduce
debt levels, which leads consolidated leverage to increase above
2.5x or consolidated interest coverage to fall below 6.0x, on a
sustained basis. Increased shareholder-friendly activities,
including increased dividends or outsized share buybacks that
materially impact the company's liquidity would also be viewed
negatively from a rating perspective.

BGC's ratings are equalized with those of its parent, Cantor
Fitzgerald, L.P. (Cantor, 'BBB-'; Stable Outlook), as Fitch
considers BGC to be a core subsidiary of Cantor due to the
significant operational and financial linkages between the two
companies. As a result, any changes in Cantor's ratings could also
result in changes to BGC's ratings.

Positive rating momentum for BGC, although limited in the medium
term, could be driven by the successful integration of GFI and a
sustained increase in profit margins, while maintaining
conservative leverage and interest coverage metrics.

Fitch has taken the following rating action:

GFI Group, Inc.

Senior Unsecured Debt upgraded to 'BBB-' from 'BB+'.



GFI GROUP: S&P Raises Issuer Credit & Debt Ratings From 'BB+'
-------------------------------------------------------------
Standard & Poor's Ratings Services said it raised its issuer credit
and debt ratings on GFI Group Inc. to 'BBB-' from 'BB+' and removed
them from CreditWatch.  The ratings were originally placed on
CreditWatch on July 30, 2014, and the implications were revised to
positive on March 9, 2015.  The outlook is stable.

"The rating action is based on our view that BGC Partners Inc.'s
recent announcement that it has put in place a guarantee of GFI's
senior notes, coupled with its controlling ownership and plans to
complete a full merger, demonstrates group support consistent with
"core" group status for GFI," said Standard & Poor's credit analyst
Robert Hoban.

S&P's issuer credit and senior debt ratings on GFI are now one
notch lower than ultimate parent Cantor Fitzgerald's group credit
profile ('bbb'), reflecting GFI's structural subordination as a
nonoperating holding company.

The stable outlook on GFI reflects the stable outlook on Cantor
Fitzgerald.  The stable outlook on Cantor Fitzgerald reflects S&P's
expectation that the company will complete the sale of Trayport and
use the proceeds to restore its risk-adjusted capital ratio above
10% and improve its funding and liquidity metrics over the next six
months.  S&P could lower its ratings on Cantor Fitzgerald if the
company's capital and its funding and liquidity do not improve in
line with its expectations.  Additionally, S&P could lower the
rating if Cantor Fitzgerald significantly increases its principal
risk exposure or suffers an unexpected loss.

S&P could lower the ratings on GFI if BGC or Cantor were to reduce
its commitment to GFI or otherwise cause us to question GFI's core
strategic importance to the group.  This could happen if S&P
believed the merger and ongoing integration of GFI was at risk.
S&P could also lower the ratings if it downgraded BGC or Cantor
Fitzgerald.

S&P is unlikely to upgrade Cantor or GFI over the next 12 to 18
months.  However, S&P would upgrade GFI if it upgraded Cantor
Fitzgerald and BGC.



GIGAMEDIA LIMITED: Gets Grace Period for Nasdaq Listing Compliance
------------------------------------------------------------------
GigaMedia Limited, an online games and computing services provider,
on July 10 disclosed that it has received a positive determination
from the Nasdaq Stock Market on July 9, 2015 granting approval on
the Company's request to an additional 180-day grace period.  The
Company's securities will continue to trade on Nasdaq Capital
Market effective on Tuesday, July 14, 2015 under the symbol
"GIGM."

As previously reported, GigaMedia was notified by Nasdaq on January
14, 2015, that it no longer satisfied the minimum bid price
requirement for continued listing of $1.00 per share, as set forth
in Nasdaq Listing Rule 5450(a)(1).  The Company is being afforded
an additional 180-day grace period to regain compliance with the
Nasdaq's minimum bid price requirement upon transfer to the Capital
Market.  In order to regain compliance, the minimum bid price per
share of the Company's common stock must be at least $1.00 for at
least ten consecutive business days during the additional 180-day
grace period, which will end on January 11, 2016.  If the Company
fails to regain compliance during this second grace period, the
Company's common stock will be subject to delisting by Nasdaq.  The
Company has provided written notice of its intention to cure the
minimum bid price deficiency during the second grace period by
effecting a reverse stock split if necessary.

                        About GigaMedia

Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore
registration number: 199905474H) -- http://www.gigamedia.com-- is
a diversified provider of online games and cloud computing
services.  GigaMedia's online games business is an innovative
leader in Asia with growing game development, distribution and
operation capabilities, as well as platform services for games;
focus is on mobile games and social casino games.  The company's
cloud computing business is focused on providing enterprises in
Greater China with critical communications services and IT
solutions that increase flexibility, efficiency and
competitiveness.


GRAND CENTRAL FUNDING: Case Summary & Largest Unsecured Creditor
----------------------------------------------------------------
Debtor: Grand Central Funding, Inc.
        10 Buckingham Drive
        Alpine, NJ 07620

Case No.: 15-23112

Chapter 11 Petition Date: July 13, 2015

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

Judge: Hon. Vincent F. Papalia

Debtor's Counsel: David L. Stevens, Esq.
                  SCURA, WIGFIELD, HEYER & STEVENS, LLP
                  1599 Hamburg Turnpike
                  Wayne, NJ 07470
                  Tel: 973-696-8391
                  Email: dstevens@scuramealey.com

Total Assets: $0

Total Liabilities: $5.2 million

The petition was signed by Stephanie Wolfer, president.

The Debtor listed Citimortgage, Inc. as its largest unsecured
creditor holding a claim of $5.2 million.

A copy of the petition is available at:

             http://bankrupt.com/misc/njb15-23112.pdf


GREEKTOWN HOLDINGS: Dist. Ct. Reverses Ruling Over Tribe Immunity
-----------------------------------------------------------------
District Judge Paul D. Borman for the Eastern District of Michigan
reversed Bankruptcy Judge Walter J. Shapero's August 13, 2014
Opinion and Order denying a motion to dismiss filed by Sault St.
Marie Tribe of Chippewa Indians and Kewadin Casinos Gaming
Authority in an adversary proceeding in the Chapter 11 case of
Greektown Holdings, LLC.

On May 28, 2010, the Adversary Proceeding was commenced, The
Official Committee of Unsecured Creditors on Behalf of the Estate
of Greektown Holdings, LLC v. Dimitrios ("Jim") Papas, Viola Papas,
Ted Gatzaros, Maria Gatzaros, Barden Development, Inc., Lac Vieux
Desert Band of Lake Superior Chippewa Indians, Sault Ste. Marie
Tribe of Chippewa Indians, Kewadin Casinos Gaming Authority, and
Barden Nevada Gaming, LLC, (E.D. Mich. Bankr. Adv. Pro. No.
10-05712). The Complaint in the Adversary Proceeding alleges that
$177 million was fraudulently transferred by the debtor, Greektown
Holdings, LLC, to the Defendants for no or inadequate
consideration.  The Complaint alleges that the fraudulent transfers
from Holdings may be avoided and recovered under sections 544 and
550 of the Bankruptcy Code, 11 U.S.C. Sec. 101, et seq., and under
the Michigan Uniform Fraudulent Transfers Act (Mich. Comp. Laws
Sec. 566.31, et seq.).

Shortly after the Adversary Proceeding was commenced, on June 25,
2010, the Tribe filed a motion to dismiss the MUFTA claims against
it on the grounds of sovereign immunity.  The Litigation Trustee
opposed the motion and the Tribe replied.  Subsequently the parties
stipulated to bifurcate the hearing on the motion to dismiss to
first decide the purely legal question of whether Congress, in
Section 106(a) of the Bankruptcy Code, abrogated the Tribe's
sovereign immunity and thereafter, if necessary, to decide whether
the Tribe waived its sovereign immunity by participating in the
Bankruptcy proceedings. The Bankruptcy Court heard oral argument on
December 29, 2010, and took the matter under advisement.

While the issue of sovereign immunity was still under advisement in
the Bankruptcy Court, in 2012 the Tribe and the Litigation Trustee
reached a settlement, filed a motion to have the settlement
approved and requested that the Bankruptcy Court hold off ruling on
the Tribe's motion to dismiss pending a decision on the Settlement
Motion.  The District Court approved the Settlement Agreement,
which contained a claims bar order that was an important aspect of
the Settlement Agreement.

The non-settling Defendants in the Adversary Proceeding, Maria
Gatzaros, Ted Gatzaros, Dimitrios Papas and Viola Papas, appealed
the Court's Order approving the Settlement Agreement, objecting to
the inclusion of the claims bar order.  The Sixth Circuit reversed
and remanded with instructions to the District Court to reconsider
the propriety and scope of the claims bar order.

With the claims bar order under fire, the parties stipulated in the
District Court to withdraw the motion for an order approving the
settlement and the case was dismissed.  The parties thereafter
agreed to voluntary mediation before Bankruptcy Chief Judge Phillip
Shefferly in an effort to resolve all of the claims against the all
of the remaining Defendants in the MUFTA Adversary Proceeding.
Despite their efforts under Judge Shefferly's guidance, the parties
were unable to achieve a settlement of the Adversary Proceeding.

To date, a global settlement has not been reached.

On June 9, 2015, with settlement negotiations at a standstill, the
Tribe renewed its 2010 motion to dismiss on the grounds of
sovereign immunity.  On June 27, 2015, the Litigation Trustee
responded and opposed the motion.  The Tribe replied and the
Bankruptcy Court heard oral argument on July 21, 2014.

On August 13, 2014, the Bankruptcy Court issued its Opinion and
Order Denying the Tribe's Renewed and Supplemented Motion,
concluding that "Congress sufficiently, clearly, and unequivocally
intended to abrogate [the Tribe's] sovereign immunity in [section
106 of the Bankruptcy Code]."

On appeal, the Tribe challenges the Bankruptcy Court's ruling in
the adversary proceeding that Congress intended to abrogate tribal
sovereign immunity from suit in section 106(a) of the Bankruptcy
Code when it abrogated the sovereign immunity of "governmental
unit[s]," and further defined a "governmental unit" in section
101(27) of the Bankruptcy Code to include "other . . . domestic
government[s]." The Tribe appeals the Bankruptcy Court's Order
denying its motion to dismiss based on sovereign immunity, arguing
that the failure of the Legislature to clearly and unequivocally
manifest an intent to abrogate tribal sovereign immunity when
describing the entities whose sovereign immunity was abrogated
under the Bankruptcy Code requires dismissal of the claims against
it in the Bankruptcy Court Adversary Proceeding.

The Litigation Trustee responds that the Legislature need not
invoke the magic words "Indian tribes" when intending to remove the
cloak of sovereign immunity that otherwise shields Indian tribes
from suits against them and argues that the Legislature clearly and
equivocally intended just that when it included the catchall phrase
"or other . . . domestic government" in section 101(27) of the
Bankruptcy Code when defining the term "governmental unit."

According to Judge Borman, the District Court cannot say "with
perfect confidence" that Congress intended, by using the generic
phrase "other domestic governments" in Sec. 101(27), to clearly,
unequivocally, unmistakably and without ambiguity abrogate tribal
sovereign immunity in Sec. 106(a) of the Bankruptcy Code.
Accordingly, the Court reverses the Bankruptcy Court's Order, finds
that Congress did not clearly and unequivocally express an intent
to abrogate the sovereign immunity of Indian tribes in section
106(a) of the Bankruptcy Code, and remands this matter to the
Bankruptcy Court for further proceedings to address the limited
factual issue of whether the Tribe, while enjoying sovereign
immunity from suit under the relevant provisions of the Bankruptcy
Code, nonetheless waived that immunity in this proceeding.

The case is, BUCHWALD CAPITAL ADVISORS, LLC, solely in its capacity
as Litigation Trustee for the Greektown Litigation Trust,
Plaintiff, v. DIMITROS ("JIM") PAPAS, et al., Defendants. SAULT
STE. MARIE TRIBE OF CHIPPEWA INDIANS; KEWADIN CASINOS GAMING
AUTHORITY, Appellants, v. BUCHWALD CAPITAL ADVISORS, LLC,
Litigation Trustee for the Greektown Litigation Trust, Appellees,
Adv. Pro. 10-05712, Case No. 14-14103 (E.D. Mich.).

A copy of the District Court's June 9, 2015 Opinion and Order is
available at http://is.gd/lUzwHQfrom Leagle.com.

                 About Greektown Holdings

Based in Detroit, Michigan, Greektown Holdings, LLC, and its
affiliates -- http://www.greektowncasino.com/-- operate world-  
class casino gaming facilities located in Detroit's historic
Greektown district featuring more than 75,000 square feet of
casino gaming space with more than 2,400 slot machines, over 70
tables games, a 12,500-square foot salon dedicated to high limit
gaming and the largest live poker room in the metropolitan Detroit
gaming market.

The Company and seven of its affiliates filed for Chapter 11
protection on May 29, 2008 (Bankr. E.D. Mich. Lead Case No.
08-53104).  The Debtors hired Daniel J. Weiner, Esq., Michael E.
Baum, Esq., and Ryan D. Heilman, Esq., at Schafer and Weiner PLLC,
as their bankruptcy counsel; Judy B. Calton, Esq., at Honigman
Miller Schwartz and Cohn LLP, as their special counsel; Conway
MacKenzie & Dunleavy as their financial advisor, and Kurtzman
Carson Consultants LLC as claims, noticing, and balloting agent.
The Official Committee of Unsecured Creditors tapped Clark Hill
PLC as its counsel.

Greektown Holdings listed assets and debts of $100 million to
$500 million in its bankruptcy petition.

On June 1, 2009, the Debtors filed a proposed Chapter 11 Plan of
Reorganization.  On Dec. 7, 2009, certain noteholder entities, the
Official Committee of Unsecured Creditors of the Debtors, and
Deutsche Bank Trust Company Americas, as indenture trustee,
proposed their own plan of reorganization for the Debtors.  On
Jan. 22, 2010, the Bankruptcy Court entered an order confirming
the Noteholder Plan.  The Plan was declared effective on June 30,
2010, after Greektown Casino Hotel obtained unanimous approval
from the Michigan Gaming Control Board on June 28 of the transfer
of the Company's ownership from the Sault Ste. Marie Tribe of
Chippewa Indian to new investors.


HERCULES OFFSHORE: Begins Solicitation of Votes for Prepack Plan
----------------------------------------------------------------
Hercules Offshore, Inc. on July 13 disclosed that it commenced a
solicitation of votes for a prepackaged plan of reorganization from
holders of its 10.25% senior notes due 2019, 8.75% senior notes due
2021, 7.5% senior notes due 2021, 6.75% senior notes due 2022,
7.375% senior notes due 2018 and 3.375% convertible senior notes
due 2038.  Votes on the prepackaged plan must be received by Prime
Clerk, the Company's voting agent, by August 12, 2015, unless the
deadline is extended.  The record date for voting has been set for
July 13, 2015.  Solicitation materials will be mailed on or about
July 13, 2015 to creditors of record that are entitled to vote.

The prepackaged plan of reorganization provides that claims of
trade creditors, suppliers and employees will be paid in full.

As previously disclosed, on June 17, 2015 the Company entered into
a restructuring support agreement with Noteholders who held
approximately 67% of the aggregate outstanding principal amount of
the Company's notes.  The terms of the consensual financial
restructuring would support a substantial deleveraging transaction
pursuant to which approximately $1.2 billion of the Company's
outstanding notes would be converted to 96.9% of new common equity,
and $450 million in new backstop debt financing would be provided,
which would fully fund the remaining construction cost of the
Hercules Highlander and provide additional liquidity to fund the
Company's operations.  The Company's current shareholders, despite
being substantially "out of the money" as described in the Plan,
would have the opportunity to receive their pro rata portion of the
remaining 3.1% of the new common equity, as well as certain
warrants described in Plan and the Agreement, subject to the
requirements of the Plan.  The Company and the consenting
Noteholders agreed to complete the restructuring through a
prepackaged plan of reorganization.  Assuming the Company receives
the required acceptances, the Company intends to commence a
prepackaged Chapter 11 case shortly after the conclusion of the
solicitation period.

The Company recommends that Noteholders refer to the information
and the limitations and qualifications discussed in the
Solicitation and Disclosure Statement, including the attached Plan.
Information contained in the Solicitation and Disclosure
Statement, including the attached Plan, is subject to change,
whether as a result of amendments, actions of third parties or
otherwise.  There can be no assurances that the Plan will be
approved or confirmed pursuant to the Bankruptcy Code.

This press release is for information purposes only and is not a
solicitation to accept or reject the proposed prepackaged plan of
reorganization referred to herein or an offer to sell or a
solicitation of an offer to buy any securities of the Company.  Any
solicitation or offer to sell will be made pursuant to and in
accordance with the Solicitation and Disclosure Statement
distributed to Noteholders and applicable law.

Noteholders seeking additional information about the balloting
process may contact Prime Clerk, LLC, by phone at +1 (844) 241-2770
(Domestic, Toll Free) or +1 (929) 342-0757 (International), or by
email at herculesballots@primeclerk.com

A form of the Solicitation and Disclosure Statement and Plan of
Reorganization, which provides a substantial description of the
proposed reorganization, can be accessed via the Internet at
http://cases.primeclerk.com/hercules

                     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.


HERCULES OFFSHORE: Soliciting Votes for Prepackaged Reorg. Plan
---------------------------------------------------------------
Hercules Offshore, Inc., announced that it commenced a solicitation
of votes for a prepackaged plan of reorganization from holders of
its 10.25% senior notes due 2019, 8.75% senior notes due 2021, 7.5%
senior notes due 2021, 6.75% senior notes due 2022, 7.375% senior
notes due 2018 and 3.375% convertible senior notes due 2038.  Votes
on the prepackaged plan must be received by Prime Clerk, the
Company's voting agent, by Aug. 12, 2015, unless the deadline is
extended.  The record date for voting has been set for July 13,
2015.  Solicitation materials will be mailed on or about July 13,
2015, to creditors of record that are entitled to vote.

The prepackaged plan of reorganization provides that claims of
trade creditors, suppliers and employees will be paid in full.

As previously disclosed, on June 17, 2015, the Company entered into
a restructuring support agreement with Noteholders who held
approximately 67% of the aggregate outstanding principal amount of
the Company's notes.  The terms of the consensual financial
restructuring would support a substantial deleveraging transaction
pursuant to which approximately $1.2 billion of the Company's
outstanding notes would be converted to 96.9% of new common equity,
and $450 million in new backstop debt financing would be provided,
which would fully fund the remaining construction cost of the
Hercules Highlander and provide additional liquidity to fund the
Company's operations.  The Company's current shareholders, despite
being substantially "out of the money" as described in the Plan,
would have the opportunity to receive their pro rata portion of the
remaining 3.1% of the new common equity, as well as certain
warrants described in Plan and the Agreement, subject to the
requirements of the Plan.  The Company and the consenting
Noteholders agreed to complete the restructuring through a
prepackaged plan of reorganization.  Assuming the Company receives
the required acceptances, the Company intends to commence a
prepackaged Chapter 11 case shortly after the conclusion of the
solicitation period.

The Company recommends that Noteholders refer to the information
and the limitations and qualifications discussed in the
Solicitation and Disclosure Statement, including the attached Plan.
Information contained in the Solicitation and Disclosure
Statement, including the attached Plan, is subject to change,
whether as a result of amendments, actions of third parties or
otherwise.  There can be no assurances that the Plan will be
approved or confirmed pursuant to the Bankruptcy Code.

Noteholders seeking additional information about the balloting
process may contact Prime Clerk, LLC, by phone at +1 (844) 241-2770
(Domestic, Toll Free) or +1 (929) 342-0757 (International), or by
email at herculesballots@primeclerk.com.  A form of the
Solicitation and Disclosure Statement and Plan of Reorganization,
which provides a substantial description of the proposed
reorganization, can be accessed via the Internet at
http://cases.primeclerk.com/hercules.

A copy of the Solicitation and Disclosure Statement for the Joint
Prepackaged Plan of Reorganization is available at:

                        http://is.gd/6yAJYB

                      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.


HEWETT'S ISLAND I-R: Moody's Affirms Ba3 Rating on Class E Notes
----------------------------------------------------------------
Moody's Investors Service has upgraded the ratings on these notes
issued by Hewett's Island CLO I-R, Ltd.:

  $11,250,000 Class C Third Priority Senior Secured Deferrable
  Floating Rate Notes Due 2019, Upgraded to Aa2 (sf); previously
  on October 29, 2014 Upgraded to A1 (sf)

  $9,900,000 Class D Fourth Priority Mezzanine Secured Deferrable
  Floating Rate Notes Due 2019, Upgraded to Baa2 (sf); previously
  on Oct. 29, 2014 Upgraded to Baa3 (sf)

Moody's also affirmed the ratings on these notes:

$195,850,000 Class A First Priority Senior Secured Floating Rate
Notes Due 2019 (current outstanding balance of $75,527,600.52),
Affirmed Aaa (sf); previously on Oct. 29, 2014 Affirmed Aaa (sf)

$15,700,000 Class B Second Priority Senior Secured Floating Rate
Notes Due 2019, Affirmed Aaa (sf); previously on October 29,
2014 Upgraded to Aaa (sf)

$10,300,000 Class E Fifth Priority Mezzanine Secured Deferrable
Floating Rate Notes Due 2019 (current outstanding balance of
$6,900,573.79), Affirmed Ba3 (sf); previously on October 29,
2014 Affirmed Ba3 (sf).

Hewett's Island CLO I-R, Ltd., issued in November 2007, is a
collateralized loan obligation backed primarily by a portfolio of
senior secured loans.  The transaction's reinvestment period ended
in Nov. 2013.

RATINGS RATIONALE

These rating actions are primarily a result of deleveraging of the
senior notes and an increase in the transaction's
over-collateralization ratios since Oct. 2014.  The Class A notes
have been paid down by approximately 36% or $43.3 million since
that time.  Based on the trustee's June 2015 report, the
over-collateralization (OC) ratios for the Class A/B, Class C,
Class D and Class E notes are reported at 137.9%, 122.7%, 111.9%
and 105.4%, respectively, versus October 2014 levels of 125.4%,
115.7%, 108.3% and 103.7% respectively.

Factors that Would Lead to an Upgrade or Downgrade of the Rating:

This transaction is subject to a number of factors and
circumstances that could lead to either an upgrade or downgrade of
the ratings:

  (1) Macroeconomic uncertainty: CLO performance is subject to a)
uncertainty about credit conditions in the general economy and b)
the large concentration of upcoming speculative-grade debt
maturities, which could make refinancing difficult for issuers.

  (2) Collateral Manager: Performance can also be affected
positively or negatively by a) the manager's investment strategy
and behavior and b) differences in the legal interpretation of CLO
documentation by different transactional parties owing to embedded
ambiguities.

  (3) Collateral credit risk: A shift towards collateral of better
credit quality, or better credit performance of assets
collateralizing the transaction than Moody's current expectations,
can lead to positive CLO performance.  Conversely, a negative shift
in credit quality or performance of the collateral can have adverse
consequences for CLO performance.

  (4) Deleveraging: An important source of uncertainty in this
transaction is whether deleveraging from unscheduled principal
proceeds will continue/commence and at what pace.  Deleveraging of
the CLO could accelerate owing to high prepayment levels in the
loan market and/or collateral sales by the manager, which could
have a significant impact on the notes' ratings.  Note repayments
that are faster than Moody's current expectations will usually have
a positive impact on CLO notes, beginning with those with the
highest payment priority.

  (5) Recovery of defaulted assets: Fluctuations in the market
value of defaulted assets reported by the trustee and those that
Moody's assumes as having defaulted could result in volatility in
the deal's OC levels.  Further, the timing of recoveries and
whether a manager decides to work out or sell defaulted assets
create additional uncertainty.  Moody's analyzed defaulted
recoveries assuming the lower of the market price and the recovery
rate in order to account for potential volatility in market prices.
Realization of higher than assumed recoveries would positively
impact the CLO.

  (6) Long-dated assets: The presence of assets that mature after
the CLO's legal maturity date exposes the deal to liquidation risk
on those assets.  This risk is borne first by investors with the
lowest priority in the capital structure.  Moody's assumes that the
terminal value of an asset upon liquidation at maturity will be
equal to the lower of an assumed liquidation value (depending on
the extent to which the asset's maturity lags that of the
liabilities) or the asset's current market value.

In addition to the base case analysis, Moody's also conducted
sensitivity analyses to test the impact of a number of default
probabilities on the rated notes relative to the base case modeling
results, which may be different from the current public ratings of
the notes.  Below is a summary of the impact of different default
probabilities (expressed in terms of WARF) on all of the rated
notes (by the difference in the number of notches versus the
current model output, for which a positive difference corresponds
to lower expected loss):

Moody's Adjusted WARF -- 20% (1921)
Class A: 0
Class B: 0
Class C: +1
Class D: +2
Class E: +2
Moody's Adjusted WARF + 20% (2881)
Class A: 0
Class B: 0
Class C: -2
Class D: -2
Class E: 0
Loss and Cash Flow Analysis:

The key model inputs Moody's used in its analysis, such as par,
weighted average rating factor, diversity score and the weighted
average recovery rate, are based on its published methodology and
could differ from the trustee's reported numbers.  In its base
case, Moody's analyzed the collateral pool as having a performing
par and principal proceeds balance of $124.4 million, defaulted par
of $3.2 million, a weighted average default probability of 11.66%
(implying a WARF of 2401), a weighted average recovery rate upon
default of 51.68%, a diversity score of 29 and a weighted average
spread of 2.76% (before accounting for LIBOR floors).

Moody's incorporates the default and recovery properties of the
collateral pool in cash flow model analysis where they are subject
to stresses as a function of the target rating on each CLO
liability reviewed.  Moody's derives the default probability from
the credit quality of the collateral pool and Moody's expectation
of the remaining life of the collateral pool.  The average recovery
rate for future defaults is based primarily on the seniority of the
assets in the collateral pool.  In each case, historical and market
performance and the collateral manager's latitude for trading the
collateral are also factors.


HOTI ENTERPRISES: 2nd Circ. Affirms $256K Damages Award
-------------------------------------------------------
The United States of Court of Appeals for the Second District
affirmed a district court's order affirming a bankruptcy court's
judgment directing payment of $256,774 in damages by Victor
Dedvukaj and Hoti Enterprises, L.P., for violations of terms of a
previous order confirming a Chapter 11 plan of reorganization and
multiple subsequent contempt orders.

The Second Circuit found that the record reflects that the
Bankruptcy Court carefully and independently reviewed the attorney
time and expense reports to ensure that they were reasonable and
commensurate with the tasks undertaken and the hourly rates of
competitors in the marketplace.  Dedvukaj's claim that the
Bankruptcy Court merely "rubber stamped" the requested fees, is
directly contradicted by the record reflecting the Bankruptcy
Court's thorough assessment of the submitted time records,
identification of vague and unreimbursable entries amounting to
approximately ten percent of requested damages, and commensurate
reduction of the damages awarded in the Payment Order, the Second
Circuit ruled.

The appeals case is VICTOR DEDVUKAJ, Debtor-Appellant, v. GECMC
2007 C-1 BURNETT STREET, LLC, Creditor-Appellee, Case No.
14-996-BK, (2d Circ.).

A full-text copy of the Second Circuit's Summary Order dated July
6, 2015, is available at http://is.gd/kJ4hgnfrom Leagle.com.

Arnold E. DiJoseph, Esq., of Arnold E. DiJoseph, P.C., serves as
counsel for Debtor-Appellant.

George B. South, III, Esq. -- george.south@dlapiper.com -- and
Daniel G. Egan, Esq. (on Brief) -- daniel.egan@dlapiper.com -- of
DLA Piper LLP (US) serve as counsel for Creditor-Appellee.

                  About Hoti Enterprises

Harrison, New York-based Hoti Enterprises, LP, is a single asset
real estate holding company that owns an apartment complex located
at 2801 Fillmore Avenue, 3001 Avenue R and 2719 Fillmore Avenue --
collectively, known as 1865 Burnett Street -- in Brooklyn, New
York.  Hoti Realty Management Co., Inc., was in the business of
owning and operating a management company that managed the
apartment complex.

Hoti filed for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y.
Case No. 10-24129) on Oct. 12, 2010.  Hoti Enterprises estimated
its assets and debts at $10 million to $50 million.  Tanya Dwyer,
Esq., at Dwyer & Associates, LLC, in New York, represents the
Debtors as counsel.

Affiliate Hoti Realty Management Co., Inc. also filed a Chapter 11
petition (Bankr S.D.N.Y. Case No. 10-24130) on the same day,
listing under $1 million in both assets and debts.

A receiver of rents was appointed against Hoti Enterprises pre-
bankruptcy pursuant to a foreclosure proceeding commenced by GECMC
2007-C-1 Burnett Street, Hoti's mortgagee and largest secured
creditor.

No Official Committee of Unsecured Creditors has been appointed in
the case.


IMRIS INC: Meeting of Creditors Set for July 15
-----------------------------------------------
The meeting of creditors of IMRIS Inc. is set to be held on July
15, 2015 at 10:00 a.m. (Eastern Time), according to a filing with
the U.S. Bankruptcy Court in Delaware.

The meeting will be held at J. Caleb Boggs Federal Building, 2nd
Floor, Room 2112, 844 King Street, in Wilmington, Delaware.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                         About IMRIS Inc.

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

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

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

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

On June 4, 2015, the U.S. Trustee appointed three members to the
Official Committee of Unsecured Creditors.  The members of the
Committee are: (i) Trumpf Medical Systems, Inc., (ii) Siemens
Medical Solutions, USA, Inc., and (iii) ETS−Lindgren Inc.
The
Committee selected Steven K. Kortanek, Esq., Kevin J. Mangan, Esq.,
and Thomas M. Horan, Esq., at Womble Carlyle Sandridge & Rice, LLP,
in Wilmington, Delaware, as counsel.


IPC INTERNATIONAL: Court Confirms Ch. 11 Plan of Liquidation
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware, on July 10,
2015, issued a findings of fact, conclusions of law and order
confirming the First Amended Joint Plan of Liquidation of IPC
International Corporation and The Security Network Holdings
Corporation.

Jeffrey R. Miller, a senior consultant with Kurzman Carson
Consultants LLC, filed a declaration stating that 90.20% of Class
IV - General Unsecured Claims -- the only class entitled to vote
under the Plan -- voted to accept the Plan, while 9.80% voted to
reject the Plan.

The Debtors, in support of confirmation of the Plan, stated that
the Plan represents an agreement between the Debtors and their
professionals on the one hand and the Official Committee of
Unsecured Creditors and its professionals on the other hand.  Under
the Plan, holders of impaired claims will obtain a recovery that is
equal to or greater than they would obtain if the cases were
converted to cases under Chapter 7 of the Bankruptcy Code.

Constadinos D. Tsitsis, a managing partner at Silverman Consulting
Group, Inc., who prepared the liquidation analysis included in the
Disclosure Statement explaining the Plan, said that for each class
of claims or interests that is impaired under the Plan, each holder
of a claim in that class has accepted the Plan or will receive or
retain under the Plan on account of that claim property of a value
that is not less than the amount that holder would receive or
retain if the Debtors were liquidated on the effective date under
Chapter 7 of the Bankruptcy Code.

                   About IPC International

Based in Bannockburn, Illinois, IPC International Corp., a
provider of security services for 350 shopping malls, filed a
petition for Chapter 11 protection (Bankr. D. Del. Case No.
13-12050) on Aug. 9, 2013, in Delaware after signing a contract
for Universal Protection Services LLC to buy the business, subject
to higher and better offers at an auction.  Bankruptcy was the
result of losses on a U.K. affiliate that was sold, as well as
competition and the cost of liability insurance.

Scott M. Strong signed the petition as chief financial officer.
The Debtor estimated assets and debts of at least $10 million.
Jeremy William Ryan, Esq., and Etta R. Mayers, Esq., at Potter
Anderson & Corroon, LLP, serves as local counsel.  Paul V.
Possinger, Esq., and Brandon W. Levitan, Esq., at Proskauer Rose,
LLP, serve as the Debtor's general bankruptcy counsel.  Silverman
Consulting, LLC, acts as the Debtor's financial advisor and
Livingstone Partners, LLP, serves as the Debtor's investment
banker.  KCC is the Debtor's noticing, claims and balloting agent.
Judge Mary F. Walrath presides over the case.

The Debtor disclosed $21,959,100 in assets and $31,056,575 in
liabilities as of the Chapter 11 filing.  Liabilities include $6.9
million on a revolving credit and $10.4 million on term loans
owing to PrivateBank & Trust Co., as agent.

PrivateBank also provided a $12 million loan to finance the
Chapter 11 case.  The DIP loan required quick sale.

A three-member panel has been appointed as the official unsecured
creditors committee in the case.  The panel consists of Weinberg,
Wheeler, Hudgins, Gunn & Dial, LLC; Mary Carmona-Rousse; and Drew
Eckl & Farnham, LLP.

In October 2013, IPC International won authorization to sell the
business for $25.4 million to Universal Protection Services.
Allied Security Holdings LLC, a competing bidder, forced Universal
to raise the offer at an auction early in October.  Universal
initially offered $21.3 million plus assumption of specified
liabilities.


J.F MOORE: Files Notice of Proposal Under Bankruptcy
----------------------------------------------------
PrintCAN reports that J. F. Moore Lithographers Inc., filed a
Notice of Intention (NOI) to make a proposal under the Bankruptcy
and Insolvency Act. The NOI was filed on April 13.

It should be noted, that this is not a bankruptcy, PrintCAN says.
The company is still operating.

Under the notice, protection has been sought under the Bankruptcy
and Insolvency Act pending the filing of a reorganizational
proposal to creditors.

Pursuant to the Bankruptcy and Insolvency Act: All proceeding by
creditors are stayed as of April 13; the Companies are required to
file a proposal within 30 days of the filing of the NOI, subject to
an extension of the court; and a meeting of the creditors to
consider the proposal to be held within 21 days of the filing of a
proposal. An extension to the NOI was filed on June 23 with an
August 10 deadline, according to PrintCAN.

Major creditors include Dean Baxendale, owner of J.F. Moore, and
Frank Pantaleo, one of the founders of the company and Business
Development Bank of Canada, PrintCAN discloses.

J.F. Moore Lithographers Inc. is based in Ontario, Toronto, Canada.


JTS LLC: Has Until July 13 to File Schedules and Statements
-----------------------------------------------------------
The Hon. Gary Spraker of the U.S. Bankruptcy Court for the District
of Alaska authorized JTS, LLC, doing business as Johnson's Tire
Service to file its schedules of assets and liabilities, and
statement of affairs until July 13, 2105.

JTS, LLC, doing business as Johnson's Tire Service, sought Chapter
11 protection (Bankr. D. Alaska Case No. 15-00167) in Anchorage,
Alaska, on June 15, 2015, without stating a reason.  JTS, in the
business of retail tire sales and automobile maintenance and
repair, estimated $10 million to $50 million in assets and debt.
The formal schedules of assets and liabilities and the statement
of
financial affairs are due June 29, 2015.  The Debtor tapped David
H. Bundy, Esq., at David H. Bundy, PC, in Anchorage, as counsel.


JW RESOURCES: Has Until July 15 to File Schedules
-------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Kentucky
directed JW Resources, Inc., et al., to file until July 15, 2015,
their schedules of assets and liabilities and statements of
financial affairs.

                        About JW Resources

JW Resources Inc. and its subsidiaries are U.S. producers of
thermal coal with mineral reserves, mining operations and coal
properties located in the Central Appalachian ("CAPP") regions of
Kentucky.  JW acquired the thermal coal mining operations of
Xinergy in eastern Kentucky for $47.2 million in February 2013.
JW's business operations comprise what is known as the "Straight
Creek" operations located in Bell, Leslie and Harlan Counties,
Kentucky, and the "Red Bird" operations located in Bell, Leslie,
Knox, and Clay Counties, Kentucky.  JW Resources is the parent and
sole shareholder of SCRB Properties, Inc., Straight Creek Coal
Mining, Inc. and SCRB Processing, Inc.

JW Resources and its subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. E.D. Ky. Lead Case No. 15-60831) in London,
Kentucky on June 30, 2015.

The Debtors tapped Frost Brown Todd LLC as counsel, and Energy
Ventures Analysis, Inc., as sale advisor.

JW Resources estimated $1 million to $10 million in assets and $50
million to $100 million in debt.  Straight Creek estimated $10
million to $50 million in assets and $50 million to $100 million in
debt.


JW RESOURCES: Seeks to Obtain $2M DIP Loan from GB Finance
----------------------------------------------------------
JW Resources, Inc., et al., seek authority from the U.S. Bankruptcy
Court for the Eastern District of Kentucky to obtain postpetition
secured financing from Gordon Brothers Finance Company, as
administrative agent, up to the amount of the prepetition revolver
of $2.0 million.

For each loan disbursed pursuant to the DIP Facility, the Debtors
promise to pay at a rate per annum equal to the LIBOR Rate plus
6.75% with an interest rate floor of 1%.

The Debtors also seek authority to use cash collateral securing
their prepetition indebtedness.  As of the Petition Date, the
Debtors are indebted to the following creditors:

      GB Credit Partners, LLC            $11,000,000
      Bayside JW Resources, Inc.         $55,000,000
      Bell County (Tax Liens)               $420,867
      Harlan County (Tax Liens)                 $393

                        About JW Resources

JW Resources Inc. and its subsidiaries are U.S. producers of
thermal coal with mineral reserves, mining operations and coal
properties located in the Central Appalachian ("CAPP") regions of
Kentucky.  JW acquired the thermal coal mining operations of
Xinergy in eastern Kentucky for $47.2 million in February 2013.
JW's business operations comprise what is known as the "Straight
Creek" operations located in Bell, Leslie and Harlan Counties,
Kentucky, and the "Red Bird" operations located in Bell, Leslie,
Knox, and Clay Counties, Kentucky.  JW Resources is the parent and
sole shareholder of SCRB Properties, Inc., Straight Creek Coal
Mining, Inc. and SCRB Processing, Inc.

JW Resources and its subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. E.D. Ky. Lead Case No. 15-60831) in London,
Kentucky on June 30, 2015.

The Debtors tapped Frost Brown Todd LLC as counsel, and Energy
Ventures Analysis, Inc., as sale advisor.

JW Resources estimated $1 million to $10 million in assets and $50
million to $100 million in debt.  Straight Creek estimated $10
million to $50 million in assets and $50 million to $100 million in
debt.


KENAN ADVANTAGE: Moody's Assigns 'B1' CFR, Outlook Negative
-----------------------------------------------------------
Moody's Investors Service assigned a B1 Corporate Family Rating to
Kenan Advantage Group, Inc. and a B1-PD Probability of Default
Rating, in connection with the sale of the company to OMERS Private
Equity.  Concurrently, Moody's assigned a Ba3 rating to the new
$1.0 billion senior secured credit facility that the company
intends to arrange and a B3 rating to the new $405 million senior
unsecured notes due 2023 that it plans to issue.  The rating
outlook is negative.

RATINGS RATIONALE

The revised rating outlook reflects the heightened risks associated
with the increase in funded debt in the planned funding structure
to almost $1.2 billion from less than $0.9 billion as of March
2015.  As a result, Moody's expects debt-to-EBITDA to increase to
at least 5 times in 2015, from 4.0 times for the last 12 months
ended March 2015.

Notwithstanding the material increase in leverage, the B1 CFR takes
into account Moody's expectation that the improvements in operating
margins and cash flow generation that Kenan has demonstrated are
sustainable and, over time, will result in credit metrics that are
more supportive of the company's B1 CFR. Operating margins
increased to 5.6% in 2014, from only 4.0 to 4.5% in previous years,
calculated on a Moody's adjusted basis.  At current levels of
profitability, Kenan should be able to generate consistently
positive free cash flow of at least $30 million annually.  However,
Moody's anticipates that a substantial portion of any accumulating
cash balances will be deployed towards executing Kenan's
acquisitive growth strategy, as opposed to debt repayment.

The B1 CFR also considers Kenan's position as a leading
truck-transporter of liquid bulk products throughout the United
States and western Canada.  Kenan's acquisitions enhance the
company's scale, geographic footprint and end market exposure, but
sizeable acquisitions are likely funded with additional debt,
possibly decelerating the pace with which leverage moderates.  At
the same time, Moody's believes that Kenan's fuel delivery services
and transportation services in the food sector make the company
less susceptible to an economic downturn compared to other trucking
companies.

Moody's expects that Kenan's liquidity profile will remain
adequate.  While cash balances are modest, Moody's anticipates that
Kenan will generate ample cash flow from operations to fund
sizeable investments in its fleet and network.  Kenan's liquidity
position is further supported by an estimated $50 million of
availability under the new revolving credit facility, net of
letters of credit.

The Ba3 rating of the new $1.0 billion senior secured credit
facility is one notch above the B1 CFR.  This reflects the senior
position that this class of debt will hold in Kenan's capital
structure, which results in a higher estimated recovery rate for
this secured facility as assessed using Moody's Loss Given Default
("LGD") methodology.  The B3 rating of the new $405 million senior
unsecured notes due 2023 is two notches below the CFR, reflecting
the substantial level of secured debt that will be senior in claim
to these notes.  Moody's estimates that the notes would incur
substantial loss in the event of default, as implied by a Loss
Given Default assessment of LGD5.

The ratings could be downgraded if Moody's expects debt-to-EBITDA
to exceed 5.0 times on a sustained basis, EBIT-to-interest to be
below 1.5 times, or if Moody's expects availability under the
revolving credit facility to diminish.  Operational challenges that
pressure margins and result in free cash flow below Moody's
expectation of at least $30 million annually could also pressure
the ratings.

Ratings could be upgraded if the company demonstrates improving
margins, cash flow and leverage through earnings growth or
reduction of debt through the use of free cash flow.
Debt-to-EBITDA would need to be sustained below 4.0 times and
EBIT-to-interest would need to exceed 2.5 times to warrant an
upgrade of the CFR.

Assignments:

Issuer: Kenan Advantage Group, Inc. (New)

  Corporate Family Rating, Assigned B1
  Probability of Default Rating, Assigned B1-PD
  Senior Secured Bank Credit Facilities, Assigned Ba3 LGD3
  Senior Unsecured Regular Bond/Debenture, Assigned B3 LGD5

Outlook Actions:

Issuer: Kenan Advantage Group, Inc. (New)

  Outlook, Assigned Negative

All existing ratings of Kenan Advantage Group, Inc. will be
withdrawn upon closing of the planned financing.

Kenan is a provider of liquid bulk transportation and logistics
services to the fuels, chemicals, liquid food and merchant gas
markets.  Utilizing a dedicated contract carriage model, Kenan
offers transportation services throughout the U.S. and in western
Canada.  Revenues for the last 12 months ended March 2015 were
approximately $1.5 billion.



KENTUCKY LEAGUE: Moody's Lowers Rating on $3.1MM Debt to 'Ba1'
--------------------------------------------------------------
Moody's Investors Service has downgraded to Ba1 from Baa2 the
rating on the Kentucky League of Cities Funding Trust Series 2003A
affecting $3.1 million in outstanding debt.  Moody's is withdrawing
the rating at this time due to insufficient information.

SUMMARY RATING RATIONALE

The downgrade to Ba1 reflects the weakened credit quality of the
pool given our assessment of the unrated participants and the
maturation of stronger participants prior to full maturity.  The
withdrawal reflects the lack of verifiable financial information
available for the city of Middlesboro, an unrated participant
representing 7.5% of the pool.  The rating was placed under review
on May 1, 2015 due to the lack of sufficient information.  The
Kentucky League of Cities Funding Trust Series 2003A is an
unenhanced pool given the absence of step up provisions or a common
debt service reserve.  The rating is determined using the "Weak
Link Plus" approach.  Middlesboro has not provided verifiable
information for fiscal year 2013 or 2014 with the last audited
financial statements available for fiscal year 2012.  While
additional information was provided, the rating has been withdrawn
because this information does not meet Moody's standards for
timeliness, sufficiency, and reliability as would information
verified by a third party.

Moody's has withdrawn the rating because it believes it has
insufficient or otherwise inadequate information to support the
maintenance of the rating.

LEGAL SECURITY

The certificates are ultimately secured by the general obligation
full faith, credit and taxing power of each city pledged to the
bonds.  The obligation is several and not joint.  Each city is
obligated for their proportional debt service, and there are no
obligations to make up shortfalls for other cities.



KEYSTONE MINE: Ch. 7 Trustee Wins Authority to Sell Assets to BMC
-----------------------------------------------------------------
Judge W. Richard Lee of the United States Bankruptcy Court for
Eastern District of California, Fresno Division, authorized Vincent
Gorski, Chapter 7 trustee for Keystone Mine Management II, to sell
substantially all of the Debtor's assets.

Judge Lee granted the Chapter 7 Trustee's motion for authority to
sell assets, finding that the sale is an appropriate exercise of
the Trustee's business judgment, his marketing efforts and notice
of sale were adequate, Bush Management Company is a good faith
purchaser under Section 363(m) of the Bankruptcy Code, and the
asset sale under Section 363 is in the best interest of the
bankruptcy estate and its creditors.

The bankruptcy case is In re KEYSTONE MINE MANAGEMENT II, Chapter
7, Debtor, Case No. 13-16845-B-7, (Bankr. E.D. Calif.).

A full-text copy of Judge Lee's Memorandum Decision dated July 8,
2015, is available at http://is.gd/jDNHg3from Leagle.com.

Lisa Holder, Esq. -- lisaholder@yahoo.com -- of the law firm of
Klein, DeNatale, Goldner, Cooper, Rosenlieb & Kimball, LLP serves
as counsel for Vincent Gorski, Chapter 7 trustee.

Phillip Gillet, Jr., Esq. -- lawyer@bak.rr.com -- of Attorney at
Law serves as counsel for debtor Keystone Mine Management II.

Meir J. Westreich, Esq. -- meirjw@aol.com -- of Attorney at Law
serves as counsel for Keystone Mining Company, Ltd., Keystone Mine
Management, Ltd., Kirk Du Shane, Patrick O'Brien, and Roger Smith.

                      About Keystone Mine Management

Keystone Mine Management II filed a chapter 11 petition (Bankr.
E.D. Cal. Case No. 13-16845) on October 21, 2013. The case was
converted to chapter 7 on February 7, 2014.  Vincent Gorski was
appointed chapter 7 trustee.


LARICINA ENERGY: Enters Into Settlement Term Sheet With CPPIB
-------------------------------------------------------------
Laricina Energy Ltd. announced on July 9 that it has entered into a
term sheet in respect of a settlement transaction with CPPIB Credit
Investments Inc., the sole holder of the Company's 11.5% senior
secured notes and payment-in-kind notes issued pursuant to the
trust indenture dated March 20, 2014.

The Company also announced it was granted a further order by the
Court of Queen's Bench of Alberta, Judicial Centre of Calgary to
extend creditor protection under the previously announced
Companies' Creditors Arrangement Act (Canada) until and including
August 7, 2015.

The Settlement Transaction contemplates that the Company will make
an initial payment and two subsequent scheduled payments, the
latter subject to adjustment, and certain anticipated receivables
will also be used to repay the Notes when received. The principal
amount owing under the Notes as at July 6, 2015 is $142.4 million.

Under the terms of the Settlement Transaction, and when approved by
the Court, Laricina shall pay immediately to CPP Credit $31.4
million from its cash on hand on account of firstly, accrued and
unpaid interest, secondly, reasonable costs reimbursable pursuant
to the Indenture and, thirdly with the remainder applied as a
partial repayment of principal outstanding under the Notes.
Following this payment the outstanding principal amount of the
Notes is forecasted to be $113.7 million subject to adjustment for
interest which may be paid in cash or added to the principal amount
of the Notes.

Thereafter the Settlement Transaction contemplates that such
remaining outstanding principal amount of the Notes owing to CPP
Credit will be dealt with by:

  * a further partial repayment of $8.7 million from Laricina's
cash on hand on completion of the Settlement Transaction expected
on or about September 30, 2015 (but may be as late as November 30,
2015), $3.4 million following completion of certain events, and 50%
of net proceeds of certain anticipated receivables when they are
received;  

   * $30 million of the Notes will continue to be outstanding on
the balance sheet and shall be governed by the Indenture, as
amended by a supplemental indenture which will simplify the
Indenture covenants and eliminate financial maintenance covenants
and approval rights. Further, the remaining 50% of net proceeds of
certain anticipated receivables when they are received will be
applied against the remaining outstanding Notes. Future interest
payable pursuant to the terms of the Notes and CPP Credit's costs
and expenses reimbursable pursuant to the terms of the Indenture
until December 31, 2015 shall be added to the principal amount of
the Notes; and

   * the remaining amount that has not otherwise been repaid will
be converted into common shares of the Company at a price of $0.12
per common share. Prior to the Effective Date, and if the Notes
have not otherwise been repaid in full, the Company intends to
offer existing shareholders the pre-emptive opportunity to
subscribe for common shares of the Company on a pro rata basis at
$0.12 per common share such that if all shareholders subscribed for
equity, the proceeds would be sufficient to repay all of the Notes
that would otherwise be converted to common shares of the Company
as described above.

CPP Credit may terminate the Settlement Transaction if the
Effective Date has not occurred by November 30, 2015.

The Settlement Transaction specifically provides that Laricina may
undertake a capital repayment process and seek transactions which
may include selling assets or the entire company, in order to raise
sufficient funds to repay CPP Credit. The Company intends to
conduct the Capital Repayment Process to solicit transactions for
that purpose. In the event Laricina is successful in identifying
one or a number of Alternative Transactions that are sufficient to
repay CPP Credit, it may terminate the Settlement Transaction at
any time on or before November 30, 2015 in order to complete those
Alternative Transactions. CPP Credit has also agreed to cooperate
to implement certain potential transactions that could result in a
partial repayment of the Notes in conjunction with the Settlement
Transaction.

As previously communicated to shareholders, BMO Capital Markets,
Morgan Stanley Canada Limited and Peters & Co. Limited have been
engaged as financial advisors to assist the Company in the Capital
Repayment Process and with seeking Alternative Transactions.
Laricina and its advisors have prepared an asset and corporate sale
process information memorandum and a fully-updated virtual data
room for access to due diligence materials concerning the Company
and its assets and will canvas interested parties to sign
non-disclosure agreements and receive access to the data.

The Company remains committed to continuing to work hard to achieve
the best outcome for all stakeholders.

Pursuant to the Order, on July 22, 2015 the Company will present
its application for approval by the Court in Laricina's ongoing
proceedings under the CCAA of i) a claims process, ii) payment to
CPP Credit of $31.4 million as described above, and iii) Laricina's
proposed Capital Repayment Process. A definitive agreement in
respect of the Settlement Transaction is to be completed before the
end of July 2015 and together with the Term Sheet will be presented
for approval by the Court on August 5, 2015. In the interim,
Laricina will finalize its claims process, Capital Repayment
Process and work with CPP Credit to prepare the Settlement
Agreement, and related definitive documentation required to
implement the Settlement Transaction, work with the Monitor
regarding its intended restructuring process and matters related
thereto and continue to update shareholders accordingly.

With the continued stay of proceedings pursuant to the Order, the
Company has sufficient liquidity, with estimated cash and cash
equivalents as of June 30, 2015 of approximately $104.6 million,
for the extended stay period which expires on August 7, 2015 and,
which may be extended thereafter as the Court deems appropriate.

Under the CCAA proceedings the Company's operations are continuing
uninterrupted and it is expected that obligations to employees and
key suppliers of goods and services will continue to be met on an
ongoing basis and that the Company's management will remain
responsible for the day-to-day operations of the Company.

At the time of Laricina's application for the Order under the CCAA,
CPP Credit made a cross application which was adjourned
indefinitely by the Court.

On April 22, 2015 the Company was granted a second stay of CCAA
proceedings until and including July 7, 2015 following the initial
order granted effective March 26, 2015 (the “Initial Order”)
after seeking protection under the CCAA following receipt of a
Demand for Payment in full by March 26, 2015 from CPP Credit of all
amounts due under the Indenture.

In conjunction with the Initial Order, PricewaterhouseCoopers Inc.
was appointed by the Court as monitor under the CCAA proceedings.
All of the materials filed with the Court are available on the
Monitor's website (www.pwc.com/car-laricina).

Calgary-based Laricina Energy is an oilsands producer.


LARICINA ENERGY: To Close Pilot Oilsands Project to Save Cash
-------------------------------------------------------------
Dan Healing at Calgary Herald reports that insolvent Laricina
Energy Ltd. plans to close its Saleski pilot oilsands project by
fall to save money, according to a report filed online by its
court-appointed monitor, PricewaterhouseCoopers.

According to Calgary Herald, the report said Laricina has
successfully shut down its 100-per-cent-owned Germain commercial
demonstration project -- as it announced it would in February --
and is negotiating with 40 per cent partner Osum Oil Sands Corp. to
close Saleski after the gathering of production data is complete in
August or, at the latest, in September.  

"The monitor understands Laricina has informed Osum that in any
event shut-in will occur at the latest by September 2015," PwC said
in the report dated June 26. "To date, the monitor understands that
Osum has not yet agreed to this request."

Calgary Herald relates that Osum spokesman Justin Robinson
confirmed the talks are ongoing but couldn't say when a decision
will be made, nor would he give his company's position on the
matter. He wouldn't comment when asked if Osum was contemplating
buying out Laricina and taking over the project, Calgary Herald
states.

"We are in discussions with our partner to basically determine what
are the right next steps for the pilot," Calgary Herald quotes Mr.
Robinson as saying. "Until we determine what those next steps are,
there's not much I can say."

Laricina is the operator of the pilot which represents one of the
most advanced efforts to try to produce bitumen from the Grosmont
carbonate formation (most existing projects target the sandstone
McMurray formation), Calgary Herald discloses.

Calgary Herald recalls that the companies had announced plans and
had regulatory approval for a $520-million, 10,700-barrel-per-day
Saleski commercial project but preliminary work was put on hold
earlier this year due to Laricina's inability to raise capital.

In March, Laricina was granted Companies' Creditors Arrangement Act
protection by the Court of Queen's Bench after it received a demand
for payment in full from CPPIB Credit Investments Inc., the holder
of $150 million in senior secured notes issued in
March 2014 and a subsidiary of the Canada Pension Plan Investment
Board, Calgary Herald relates.

According to Calgary Herald, Laricina had warned in January it was
in technical default after fourth-quarter production of 1,255
barrels per day of bitumen missed the level promised under
covenants attached to the notes.

CPPIB is Laricina's largest individual shareholder with 15.3 per
cent of its shares.

Calgary-based Laricina Energy is an oilsands producer.


LEARNING TREE: Shares to Be Delisted From NASDAQ Global Market
--------------------------------------------------------------
Learning Tree International, Inc. on July 13 notified The NASDAQ
Stock Market LLC that the Company's shares of common stock would be
delisted from the NASDAQ Global Market since the Company no longer
satisfies the Global Market's listing requirements.  The Company's
common stock is currently traded on the Global Market under the
trading symbol "LTRE."  The Company is taking the steps necessary
to have its common stock quoted for trading in the OTCQX US Market,
operated by OTC Markets, Inc., under the same trading symbol of
"LTRE."

As previously disclosed, on May 20, 2015, the Company received a
notice from NASDAQ that the Company was not in compliance with the
minimum stockholders' equity requirement of $10.0 million for
continued listing on the Global Market under NASDAQ Listing Rule
5450.  Based on the listing requirements of NASDAQ and the expected
financial performance of the Company in the near term, the
Company's common stock will be delisted from the Global Market.
The Company has filed an application to have its common stock
quoted on the OTCQX.

In accordance with the rules of the Securities and Exchange
Commission, the Company will file a notification of removal from
listing on the Global Market and deregistration of the Company's
common stock under Section 12(b) of the Securities Exchange Act of
1934, as amended, on Form 25 with the SEC on or about July 23,
2015.  As a result, the Company expects that the last day of
trading of its common stock on the Global Market will be on or
about July 22, 2015, with trading to commence on the OTCQX the next
trading day.

Following commencement of trading of its common stock on the OTCQX,
the Company's common stock will continue to be registered under the
Exchange Act and the Company will continue to file financial
reports that will be available on the SEC's website, www.sec.gov

              About Learning Tree International

Established in 1974, Learning Tree International --
http://www.learningtree.com-- is a worldwide vendor-independent
provider to business and government organizations for the training
and education of their information technology professionals and
managers.


LEHMAN BROTHERS: Aims to Return $1.89B More to Brokerage Creditors
------------------------------------------------------------------
Joseph Checkler, writing for Dow Jones' Daily Bankruptcy Review,
reported that the trustee unwinding Lehman Brothers Inc. is seeking
court permission to pay nearly $2 billion more to the defunct
brokerage's unsecured creditors, which would be the third such
distribution since he paid off the brokerage's customers.

According to the report, in a July 14 filing with U.S. Bankruptcy
Court in Manhattan, trustee James W. Giddens said he wants to pay
$1.89 billion to the creditors.  If approved, that would bring the
total amount returned to more than $8 billion, a recovery of about
35 cents on the dollar, the DBR report noted.  Combined with
distributions made to customers, the total amount recovered in the
brokerage's liquidation would be around $114 billion, the DBR
report further noted.

                     About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the

fourth largest investment bank in the United States.  For more
than
150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and
individuals worldwide.

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

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

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

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

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

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

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

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


LEHMAN BROTHERS: Creditors Balk at Bid to Estimate European Claims
------------------------------------------------------------------
Joseph Checkler, writing for Dow Jones' Daily Bankruptcy Review,
reported that Citigroup Inc. and other Lehman Brothers Holdings
Inc. creditors are balking at the failed investment bank's bid to
estimate billions of claims from its European arm at zero dollars,
saying they still haven't gotten all the money they are owed.

According to the report, in its objection filed on July 10 with
U.S. Bankruptcy Court in Manhattan, Citi said Lehman's contention
that some so-called guarantee claims are "expected to be satisfied"
isn't enough. Citi said it already has recovered 87% on the claims,
and just wants protection that it will get the other 13%.

                     About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the

fourth largest investment bank in the United States.  For more
than
150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and
individuals worldwide.

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

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

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

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

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

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

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

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


LEHMAN BROTHERS: SIPC Praises Trustee's Interim Distribution Plan
-----------------------------------------------------------------
The Securities Investor Protection Corporation (SIPC) praised the
latest achievement of Lehman Brothers Inc. Trustee James W.
Giddens, who on July 13 filed a motion with the United States
Bankruptcy Court seeking approval to make a third interim
distribution totaling $1.89 billion to unsecured general creditors
with allowed claims.

If the Court approves the third interim distribution, the
cumulative payout to unsecured general creditors will reach 35
percent and total approximately $7.8 billion.  Total distributions
to all creditors, which include unsecured general creditors and
secured, priority, and administrative creditors, will come to more
than $8 billion.

SIPC President Stephen Harbeck said: "The results achieved to date
have exceeded expectations.  The professionals from Hughes Hubbard
& Reed demonstrated that the Securities Investor Protection Act was
suited for dealing with the most complex insolvency in history."


In total, customers have received more than $106 billion, fully
satisfying the 111,000 customer claims. Secured, priority, and
administrative creditors have also received 100 percent
distributions.

                        About SIPC

The Securities Investor Protection Corporation
--http://www.sipc.org-- is the U.S. investor's first line of
defense in the event of the failure of a brokerage firm owing
customers cash and securities that are missing from customer
accounts.  SIPC either acts as trustee or works with an independent
court-appointed trustee in a brokerage insolvency case to recover
funds.

The statute that created SIPC provides that customers of a failed
brokerage firm receive all non-negotiable securities -- such as
stocks or bonds -- that are already registered in their names or in
the process of being registered.  At the same time, funds from the
SIPC reserve are available to satisfy the remaining claims for
customer cash and/or securities held in custody with the broker for
up to a maximum of $500,000 per customer.  This figure includes a
maximum of $250,000 on claims for cash.  From the time Congress
created it in 1970 through December 2014, SIPC has advanced $ 2.3
billion in order to make possible the recovery of $134 billion in
assets for an estimated 773,000 investors.

                       About Lehman Brothers

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

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

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

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

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

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

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

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

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


LEHMAN BROTHERS: Trustee Plans Add'l $1.9 Billion Distribution
--------------------------------------------------------------
James W. Giddens, Trustee for the liquidation of Lehman Brothers
Inc. under the Securities Investor Protection Act, on July 13 filed
a motion with the Bankruptcy Court seeking approval to make a third
interim distribution totaling $1.89 billion to unsecured general
creditors with allowed claims.

If the third interim distribution is approved by the Court, the
cumulative payout to unsecured general creditors will reach 35
percent and total approximately $7.8 billion.  Total distributions
to all creditors, which include unsecured general creditors and
secured, priority, and administrative creditors, will come to more
than $8 billion.

"With this third distribution to unsecured general creditors of
nearly two billion dollars, we have come a long way from the
beginning of the liquidation when the mere existence of a general
estate was in doubt," Mr. Giddens said.  "The wind down of the
estate continues in earnest, and we will continue to resolve
outstanding issues so that all remaining available assets can be
fully distributed."

The potential for any additional distribution from the general
estate is contingent on resolution of outstanding claims and the
outcomes of various ongoing litigations.

In total, customers have received more than $106 billion, fully
satisfying the 111,000 customer claims.  Secured, priority, and
administrative creditors have also received 100 percent
distributions.

Together, the LBI customer and creditor distributions represent the
largest distributions across the worldwide Lehman insolvency
proceedings.  These achievements would not have been possible
without the assistance of the Securities Investor Protection
Corporation and the Securities and Exchange Commission, and the
oversight of United States Bankruptcy Court judges, the Honorable
James M. Peck and the Honorable Shelley C. Chapman.

The Trustee is represented by Hughes Hubbard & Reed LLP.

                       About Lehman Brothers

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

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

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

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

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

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

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

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

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


MARKWEST ENERGY: Moody's Puts 'Ba2' CFR on Review for Upgrade
-------------------------------------------------------------
Moody's Investors Service placed MarkWest Energy Partners, L.P.'s
ratings on review for upgrade, including its Ba2 Corporate Family
Rating, Ba2-PD Probability of Default Rating, Ba3 senior unsecured
rating, and (P)Ba3 Shelf.  The outlook was previously stable.  The
SGL-3 liquidity rating remains unchanged.

This rating action was in response to the announcement that MPLX LP
(MPLX, Baa3 stable) will acquire MarkWest in a transaction valued
at roughly $20 billion, including the assumption of MarkWest's debt
of roughly $4.2 billion.  The transaction is expected to close in
the third quarter of 2015.

The review for upgrade is based on the potential benefit of
MarkWest's debt being supported by the stronger credit profile and
greater financial flexibility of MPLX.

RATINGS RATIONALE

The review will focus on the pro forma capital structure of the
combined company, and whether the debt is guaranteed.  It will also
cover the management and operation of the MarkWest and MPLX assets,
the execution risks of combining the two companies.

If the MarkWest notes are guaranteed, they could be equalized with
MPLX's notes resulting in a potential multi-notch upgrade to Baa3.
Otherwise, the possible ratings uplift will depend on our view of
MPLX's level of support for MarkWest and the notes structural
position in the combined company's pro-forma capital structure.
Without a guarantee, MarkWest's rating will not be equalized with
MPLX's rating.

MarkWest Energy Partners is a Denver-based publicly traded master
limited partnership engaged primarily in natural gas and natural
gas liquids gathering and processing and other midstream activities
with principal operations in the Marcellus and Utica shales and in
the US mid-continent.



MARKWEST ENERGY: S&P Puts 'BB' CCR on CreditWatch Positive
----------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BBB-'
corporate credit rating on Findlay, Ohio-based MPLX L.P. and its
'BBB' rating on Marathon Petroleum Corp.  The rating outlook on
both companies is stable.  At the same time, S&P placed the ratings
on MarkWest Energy Partners L.P., including its 'BB' corporate
credit rating and senior unsecured debt rating, on CreditWatch with
positive implications.

The positive CreditWatch listing of MarkWest and its unsecured debt
reflects S&P's expectation that we will raise the ratings in line
with those of MPLX.  MarkWest will become a wholly owned subsidiary
of MPLX and its operations will be integrated with MPLX's, with
MPLX assuming MarkWest's debt of about $4.2 billion. S&P believes
the acquisition will also enable the pro forma partnership to
finance its significant capital requirements through MPLX's lower
cost of capital and the support of its strong sponsor, Marathon,
which MarkWest was unable to do on its own due to balance sheet
constraints.  S&P expects pro forma partnership to have EBITDA of
about $1.5 billion, debt to EBITDA of about 4x, and EBITDA interest
coverage of about 5.5x in 2016.

"The stable rating outlook on MPLX reflects our belief that the
company will successfully integrate the acquisition and maintain
total debt to EBITDA of about 4x and adequate liquidity as it funds
organic growth and acquires assets from Marathon," said Standard &
Poor's credit analyst Michael Grande.

The most likely downside scenario would stem from a downgrade of
Marathon, which would likely result in a downgrade of MPLX.  S&P
could lower the ratings on Marathon if S&P expected the company's
financial risk profile to weaken to one S&P considers
"significant," marked by consolidated debt to EBITDA approaching 3x
under a midcycle margin environment for the refining sector. This
could occur if S&P revised its midcycle expectations for refining
profitability significantly lower or if management increased
leverage by aggressively funding acquisitions or capital spending
with debt.

The most likely upside scenario would stem from an upgrade of
Marathon, which would likely result in an upgrade of MPLX.  An
upgrade could occur if Marathon materially increased the share of
EBITDA contributed by more stable operations like its retail and
fee-based midstream logistics segments, which S&P believes could
reduce cash flow volatility, while maintaining consolidated
leverage consistently under 3x through the commodity cycle.

The stable rating outlook on Marathon reflects that MPLX's
acquisition will not materially increase consolidated financial
leverage and that Marathon will maintain strong liquidity and
robust refining margins.



MATTRESS FIRM: Moody's Raises CFR to 'B1', Outlook Stable
---------------------------------------------------------
Moody's Investors Service upgraded Mattress Firm Holding Corp's
Corporate Family Rating to B1 from B2 and Probability of Default
Rating to B1-PD from B2-PD.  Moody's also upgraded to Ba3 from B1
the rating on the senior secured term loan of Mattress Holding
Corp., a subsidiary of Mattress Firm Holding Corp. and parent
company of the primary operating entity, Mattress Firm, Inc.  These
actions conclude the review for upgrade initiated on June 16, 2015
upon the adoption of Moody's updated approach for standard
adjustments for operating leases, which is explained in the
cross-sector rating methodology Financial Statement Adjustments in
the Analysis of Non-Financial Corporations, published on June 15,
2015.  Moody's also affirmed Mattress Firm's SGL-2 Speculative
Grade Liquidity Rating. The rating outlook is stable.

The upgrade reflects Mattress Firm's approximately 1.7 times
decline in lease-adjusted debt/EBITDA from 6.2 times to 4.5 times
(as of May 5, 2015) due to changes in Moody's approach for
capitalizing operating leases.  Moody's expects that the company
will continue to integrate its Sleep Train and Back to Bed
acquisitions with no meaningful issues and achieve growth through
new store openings and low-single-digit same store sales
increases.

Moody's took these rating actions:

Issuer: Mattress Firm Holding Corp.

  Corporate Family Rating, upgraded to B1 from B2
  Probability of Default Rating, upgraded to B1-PD from B2-PD
  Speculative Grade Liquidity rating, affirmed at SGL-2
  Rating outlook is stable

Issuer: Mattress Holding Corp.

  720 million first lien senior secured term loan due 2021,
   upgraded to Ba3 (LGD3) from B1 (LGD3)

Moody's will shortly move the Corporate Family Rating, Probability
of Default Rating, Speculative Grade Liquidity Rating and rating
outlook to Mattress Holding Corp. from Mattress Firm Holding Corp.

RATINGS RATIONALE

The B1 Corporate Family Rating reflects the company's position as
the largest specialty mattress retailer with coast-to-coast reach
in the highly fragmented U.S. market, credible growth opportunities
from new store expansion, and good liquidity.  The company's
debt/EBITDA stood at 4.5 times and EBITA/interest expense at 2.1
times (Moody's-adjusted, as of May 5, 2015).  At the same time, the
rating considers Mattress Firm's dependence on cyclical
discretionary consumer spending, narrow product focus as a mattress
retailer, and aggressive expansion strategy, which leads to
elevated event and operational risk and limits the pace of
de-leveraging.  Limited organic growth in the highly competitive
mattress retailing industry creates dependence on continual
investment in new store openings and acquisitions to generate
growth.

The SGL-2 speculative grade liquidity rating reflects Moody's
expectations for positive cash flow generation, sufficient revolver
availability and a springing-covenant only capital structure.

The stable rating outlook reflects Moody's expectation that
Mattress Firm will reduce leverage to the low-4 times range in 2015
driven by earnings growth primarily from store expansion and the
run rate impact of 2014 acquisitions.  The outlook also reflects
Moody's view that the company will maintain a good liquidity
profile, including positive free cash flow generation, but will
continue to prioritize the use of cash towards bolt-on acquisitions
rather than debt reduction.

The ratings could be downgraded if the company faces challenges
integrating Sleep Train and Back to Bed, if revenue and earnings
decline, or the company's liquidity profile deteriorates for any
reason.  Quantitatively, ratings could be downgraded if debt/EBITDA
is sustained above 5.0 times or EBITA/Interest is sustained below
2.0 times.

The ratings could be upgraded if the company achieves planned
synergies through the integration of its 2014 acquisitions and
demonstrates solid same store sales, revenue and earnings growth,
such that lease-adjusted leverage is sustained at or below 4.0
times and EBITA/interest expense above 2.75 times.  An upgrade
would also require a commitment to more conservative financial
policies, including the lack of meaningful debt-financed
acquisitions.

The principal methodology used in these ratings was Global Retail
Industry published in June 2011.

Mattress Firm Holding Corp. is a specialty mattress retailer with
2,279 stores (as of May 5, 2015 including franchise locations). The
company is publicly traded but J.W. Childs owns approximately 36%.
The company's subsidiary Mattress Holding Corp. is the borrower
under the bank credit facilities.  Revenues for the 12 months ended
May 5, 2015 were approximately $2 billion.



MIG LLC: Authorized to Access Cash Collateral of Secured Lenders
----------------------------------------------------------------
The Hon. Kevin Gross of the U.S. Bankruptcy Court for the District
of Delaware signed off an agreed order authorizing MIG, LLC, and
ITC Cellular, LLC, to use cash collateral of its existing secured
lenders.

The stipulation entered among the Debtors and The Bank of New York
Mellon, as trustee, collateral agent, registrar, paying agent and
note accounts bank, provides for, among other things:

   1. as of the Petition Date, the Debtor are indebted and liable
to the indenture trustee and the holders of the notes in the
aggregate principal amount of not less than $252.4 million, plus
accrued interests; and

   2. the Debtors will provide adequate protection liens on real
and personal property and proceeds therefrom, superpriority
administrative expense claim, subject to carve out on certain
expenses.

                          About MIG LLC

Formerly operating under the name "Metromedia International Group,
Inc.," MIG LLC -- http://www.migllc-group.com/-- owned and    
operated and sold dozens of companies in diverse industries,
including entertainment, photo finishing, garden equipment and
sporting goods, until the late 1990s.  In 1997 and 1998, MIG
consummated the sale of substantially all of its U.S.-based
entertainment assets and began focusing on expanding into emerging
communications and media businesses.  By 2005, all of MIG's
operating businesses were located in the Republic of Georgia and
operated through its subsidiaries.

MIG LLC and affiliate ITC Cellular, LLC, filed for Chapter 11
bankruptcy protection on June 30, 2014.  The cases are currently
jointly administered under Bankr. D. Del. Lead Case No. 14-11605.
As of the bankruptcy filing, MIG's sole valuable asset, beyond its
existing cash, is its indirect interest in Magticom Ltd.  The
cases
are assigned to Judge Kevin Gross.  MIG LLC disclosed $15.9
million
in assets and $254 million in liabilities.

Headquartered in Tbilisi, Georgia, Magticom is the leading mobile
telephony operator in Georgia and is also the largest telephone
operator in Georgia.  Magticom serves 2.4 million subscribers with
a network that covers 97% of the populated regions in Georgia.
Magticom is owned by International Telcell Cellular, LLC, which is
46% owned by MIG unit ITC Cellular, 51% owned by Dr. George
Jokhtaberidze, and 3% owned by Gemstone Management Ltd.

Formerly known as MIG, Inc., MIG was a debtor in a previous case
(Bankr. D. Del. Case NO. 09-12118). It obtained approval of its
reorganization plan in November 2010.

The Debtors have tapped Greenberg Traurig LLP as counsel, Fox
Rothschild Inc. as financial advisor; Cousins Chipman and Brown,
LLP as conflicts counsel; and Prime Clerk LLC as claims and notice
agent and administrative advisor.  The Debtors have retained
Natalia Alexeeva as chief restructuring officer.

A three-member panel has been appointed in these cases to serve as
the official committee of unsecured creditors, consisting of
Walter
M. Grant, Paul N. Kiel, and Lawrence P. Klamon.  McKenna
Long and Aldridge LLP as its bankruptcy counsel, Cole, Schotz,
Meisel, Forman & Leonard, P.A., as its
Delaware counsel.



MISSISSIPPI PHOSPHATES: Pleads Guilty to Fertilizer Spill
---------------------------------------------------------
Joseph Checkler, writing for Dow Jones' Daily Bankruptcy Review,
reported that Mississippi Phosphates Corp. has pleaded guilty to
Justice Department charges that it knowingly discharged pollutants
from its fertilizer plant into Mississippi's Bayou Casotte.

According to the report, in a July 14 filing with U.S. Bankruptcy
Court in Gulfport, Miss., the company said it needs its bankruptcy
judge to approve the plea agreement, which as a Clean Water Act
violation carries a maximum fine of $500,000 or the greater of
twice the gain made by Mississippi Phosphates or twice the harm
done to another party.

The company will also give the 320 acres of land adjacent to the
plant to the Mississippi Department of Marine Resources, which will
make it part of the Grand Bay National Estuarine Research Reserve,
the report said.

                   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.


MISSISSIPPI PHOSPHATES: Seeks Approval of Settlement Agreement
--------------------------------------------------------------
Mississippi Phosphates Corporation ask the Bankruptcy Court to
approve a Settlement Agreement between the Debtors, Phosphate
Holdings, Inc., STUW LLC, as administrative agent for the
pre-petition lenders and post-petition lenders, the United States
of America, on behalf of the Environmental Protection Agency (EPA)
the Mississippi Department of Environmental Quality.

The proposed Settlement Agreement, in general terms, provides
either a sales process for all or substantially all of the assets
of the bankruptcy estates, including but not limited to the
phosphogypsum stacks and related process water management system to
a qualified buyer whose bid includes a component providing for at
least $15,000,000 cash consideration to be paid to the Lender
Parties for their collateral in addition to any other consideration
or liabilities assumed or paid by the proposed purchaser, as well
as the assumption of environmental liabilities to the Environmental
Agencies related to the Debtors’ assets, including without
limitation, the Gyp Stacks, and satisfaction of the financial
assurance requirements of the Environmental Agencies under
non-bankruptcy law of which shall be subject to the approval of the
Environmental Agencies.  In the alternative, an “Alternative
Transaction” providing for a transfer of the assets of the
bankruptcy estates to two trusts (Liquidation Trust and
Environmental Trust) one of which, the Liquidation Trust, receives
substantially all assets other than the Gyp Stacks to market for
sale with a distribution structure for sales proceeds for payment
of the claims of the Lenders, for funding Environmental Actions
taken by the Environmental Trust (which takes ownership of the Gyp
Stacks), and for distribution to the bankruptcy estates.  

The Debtors will also receive up to $6,000,000 in DIP/Exit
Obligations by the Post-Petition Lenders for the Debtors’
operations and waste water processing through the Sale Deadline or
Closing Date, as applicable; a distribution structure for the
proceeds of the BP Claim or Protective Claim to the Lenders, the
Environmental Trust and the bankruptcy estates; and a covenant not
to sue or assert any civil claims or causes of action or to take
administrative action against the Lender Parties, and PHI, as well
as certain officers, directors and employees of the Debtors.

The Debtors believe that the proposed Settlement Agreement
maximizes the value of the bankruptcy estates by ensuring the
environmental issues are properly addressed through a flexible
sales process.  The Settlement Agreement accomplishes these
objectives by: (i) resolving the claims of the Environmental
Agencies against the Estate Parties and the Lender Parties with
respect to the Facility; (ii) providing additional time and
financing for the Debtors to market the assets of the bankruptcy
estates through a potential Debtor All- Asset Sale; and (iii)
offering an Alternative Transaction if no Debtor All-Asset Sale is
consummated.

                    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 has 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.

The Debtors have tapped Stephen W. Rosenblatt, Esq., at Butler Snow
LLP as counsel.  The official committee of unsecured creditors
tapped Burr & Forman LLP as its counsel.



MOLYCORP INC: Has Interim Approval of Equity Trading Protocol
-------------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware gave Molycorp, Inc., et al., interim authority
to establish notice and objection procedures for the transfers of
equity securities.

The Debtors proposed these procedures:

   * Any "substantial equityholder" -- entity that has direct or
indirect beneficial ownership of at least 11,894,228 shares
(representing 4.5% of the 264,316,184 issued and outstanding shares
of common stock) of Molycorp -- must serve and file a declaration
on or before the later of (i) 14 days after the date of the interim
order approving the procedures and (ii) 14 days after becoming a
substantial equityholder.

   * At least 28 days prior to effectuating any transfer of the
equity securities that would result in another entity becoming a
substantial shareholder, the parties to such transaction must serve
and file a notice of the intended stock transaction.

   * The Debtors have 21 days after receipt of the stock
transaction notice to object to the proposed transaction.

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

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

The final hearing to consider approval of the proposed procedures
will be at a date yet to be determined.

                        About Molycorp

Molycorp Inc. -- http://www.molycorp.com/-- is a global rare   
earths and rare metals producer.  Molycorp owns several prominent
rare earth processing facilities around the world.  It has a
workforce of 2,530 employees at locations on three continents.
Molycorp's Mountain Pass Rare Earth Facility in San Bernadino
County, California, is home to one of the world's largest and
richest deposits of rare earths.

Molycorp has corporate offices in the United States, Canada and
China.  CEO Geoffrey R. Bedford, and other senior management
members are located in Molycorp's corporate offices in Toronto,
Canada.  Other senior manageemnt members are located at its U.S.
corporate headquarters in Greendwood Village, Colorado.

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

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

Molycorp and its North American subsidiaries, together with
certain of its non-operating subsidiaries outside of North America,
filed Chapter 11 voluntary petitions in Delaware (Bankr. D. Del.
Lead Case No. 15-11357) on June 25, 2015, after reaching agreement
with a group of lenders on a financial restructuring.  The Chapter
11 cases of Molycorp and 20 affiliated debts are pending before
Judge Christopher S. Sontchi.

The agreement provides for a financial restructuring of the
Company's $1.7 billion in debt and provides up to $225 million in
gross proceeds in new financing to support operations while the
Company completes negotiations with creditors.

The Company's operations outside of North America, with the
exception of non-operating companies in Luxembourg and Barbados,
are excluded from the filings.  Molycorp Rare Metals (Oklahoma),
LLC, with operations in Quapaw, Oklahoma, also is excluded from the
filings as it is not 100% owned by the Company.

Molycorp is being advised by the investment banking firm of Miller
Buckfire & Co. and is receiving financial advice from AlixPartners,
LLP.  Jones Day and Young, Conaway, Stargatt & Taylor LLP act as
legal counsel to the Company in this process.  Prime Clerk serves
as claims and noticing agent.


MOLYCORP INC: Has Interim OK to Pay $3M to Essential Suppliers
--------------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware gave Molycorp, Inc., et al., interim authority
to pay prepetition claims of certain unsecured essential suppliers
in an aggregate amount not to exceed $3.0 million.

A hearing to approve the motion on a final basis will be conducted
on a date to be determined.

                        About Molycorp

Molycorp Inc. -- http://www.molycorp.com/-- is a global rare   
earths and rare metals producer.  Molycorp owns several prominent
rare earth processing facilities around the world.  It has a
workforce of 2,530 employees at locations on three continents.
Molycorp's Mountain Pass Rare Earth Facility in San Bernadino
County, California, is home to one of the world's largest and
richest deposits of rare earths.

Molycorp has corporate offices in the United States, Canada and
China.  CEO Geoffrey R. Bedford, and other senior management
members are located in Molycorp's corporate offices in Toronto,
Canada.  Other senior manageemnt members are located at its U.S.
corporate headquarters in Greendwood Village, Colorado.

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

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

Molycorp and its North American subsidiaries, together with
certain of its non-operating subsidiaries outside of North America,
filed Chapter 11 voluntary petitions in Delaware (Bankr. D. Del.
Lead Case No. 15-11357) on June 25, 2015, after reaching agreement
with a group of lenders on a financial restructuring.  The Chapter
11 cases of Molycorp and 20 affiliated debts are pending before
Judge Christopher S. Sontchi.

The agreement provides for a financial restructuring of the
Company's $1.7 billion in debt and provides up to $225 million in
gross proceeds in new financing to support operations while the
Company completes negotiations with creditors.

The Company's operations outside of North America, with the
exception of non-operating companies in Luxembourg and Barbados,
are excluded from the filings.  Molycorp Rare Metals (Oklahoma),
LLC, with operations in Quapaw, Oklahoma, also is excluded from the
filings as it is not 100% owned by the Company.

Molycorp is being advised by the investment banking firm of Miller
Buckfire & Co. and is receiving financial advice from AlixPartners,
LLP.  Jones Day and Young, Conaway, Stargatt & Taylor LLP act as
legal counsel to the Company in this process.  Prime Clerk serves
as claims and noticing agent.


MOLYCORP INC: Meeting of Creditors Set for Aug. 13
--------------------------------------------------
The meeting of creditors of Molycorp Inc. is set to be held on Aug.
13, 2015, at 10:00 a.m., according to a filing with the U.S.
Bankruptcy Court in Delaware.

The meeting will be held at J. Caleb Boggs Federal Building, 2nd
Floor, Room 2112, 844 North King Street, in Wilmington, Delaware.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                        About Molycorp

Molycorp Inc. -- http://www.molycorp.com/-- is a global rare
earths and rare metals producer.  Molycorp owns several prominent
rare earth processing facilities around the world.  It has a
workforce of 2,530 employees at locations on three continents.
Molycorp's Mountain Pass Rare Earth Facility in San Bernadino
County, California, is home to one of the world's largest and
richest deposits of rare earths.

Molycorp has corporate offices in the United States, Canada and
China.  CEO Geoffrey R. Bedford, and other senior management
members are located in Molycorp's corporate offices in Toronto,
Canada.  Other senior manageemnt members are located at its U.S.
corporate headquarters in Greendwood Village, Colorado.

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

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

Molycorp and its North American subsidiaries, together with certain
of its non-operating subsidiaries outside of North America, filed
Chapter 11 voluntary petitions in Delaware (Bankr.  D. Del. Lead
Case No. 15-11357) on June 25, 2015, after reaching agreement with
a group of lenders on a financial restructuring.  The Chapter 11
cases of Molycorp and 20 affiliated debts are pending before Judge
Christopher S. Sontchi.

The agreement provides for a financial restructuring of the
Company's $1.7 billion in debt and provides up to $225 million in
gross proceeds in new financing to support operations while the
Company completes negotiations with creditors.

The Company's operations outside of North America, with the
exception of non-operating companies in Luxembourg and Barbados,
are excluded from the filings.  Molycorp Rare Metals (Oklahoma),
LLC, with operations in Quapaw, Oklahoma, also is excluded from the
filings as it is not 100% owned by the Company.

Molycorp is being advised by the investment banking firm of Miller
Buckfire & Co. and is receiving financial advice from
AlixPartners, LLP.  Jones Day and Young, Conaway, Stargatt & Taylor
LLP act as legal counsel to the Company in this process.  Prime
Clerk serves as claims and noticing agent.


MOLYCORP INC: Prepetition Lender Seeks Addn'l Adequate Protection
-----------------------------------------------------------------
OCM MLYCo CTB Ltd., asks the U.S. Bankruptcy Court for the District
of Delaware to lift the automatic stay imposed in the Chapter 11
cases of Molycorp, Inc., et al., and grant additional adequate
protection to OCM.

OCM MLY, which serves as (a) the administrative agent, collateral
agent, and lender under the OCM MLY Facility Agreements and (b)
lessor under an equipment lease agreement, asserts that the
proposed actions that the Debtors contemplate in connection with
the DIP Financing alone constitute an immediate threat to the value
of OCM MLY's collateral that justifies waiving the stay.

The need for prompt relief is heightened as certain of the Neo
Assets consist of equity interests in a non-Debtor subsidiary owned
by a Neo Debtor organized in a different foreign jurisdiction, OCM
MLY further asserts.  Thus, there is a risk that creditors or other
actors in either of those jurisdictions who are not subject to the
jurisdiction of the Bankruptcy Court could seek to act with respect
to the equity interests, causing further injury to OCM MLY, the
prepetition lender argues.

OCM MLY is represented by:

         Robert J. Dehney, Esq.
         Gregory W. Werkheiser, Esq.
         Andrew R. Remming, Esq.
         MORRIS, NICHOLS, ARSHT & TUNNELL LLP
         1201 North Market Street, 16th Floor
         P.O. Box 1347
         Wilmington, DE 19899
         Tel: (302) 658-9200
         Fax: (302) 658-3989
         Email: rdehney@mnat.com
                gwerkheiser@mnat.com
                aremming@mnat.com

            -- and --

         Dennis F. Dunne, Esq.
         Samuel A. Khalil, Esq.
         Lauren C. Doyle, Esq.
         MILBANK TWEED HADLEY & MCCLOY LLP
         28 Liberty Street
         New York, NY 10005
         Tel: (212) 530-5000
         Fax: (212) 530-5219
         Email: ddunne@milbank.com
                skhalil@milbank.com
                ldoyle@milbank.com

            -- and --

         Andrew M. Leblanc, Esq.
         MILBANK TWEED HADLEY & MCCLOY LLP
         1850 K Street, NW, Suite 1100
         Washington, DC 20006
         Tel: (202) 835-7500
         Fax: (202) 263-7586
         Email: aleblanc@milbank.com

                        About Molycorp

Molycorp Inc. -- http://www.molycorp.com/-- is a global rare   
earths and rare metals producer.  Molycorp owns several prominent
rare earth processing facilities around the world.  It has a
workforce of 2,530 employees at locations on three continents.
Molycorp's Mountain Pass Rare Earth Facility in San Bernadino
County, California, is home to one of the world's largest and
richest deposits of rare earths.

Molycorp has corporate offices in the United States, Canada and
China.  CEO Geoffrey R. Bedford, and other senior management
members are located in Molycorp's corporate offices in Toronto,
Canada.  Other senior manageemnt members are located at its U.S.
corporate headquarters in Greendwood Village, Colorado.

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

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

Molycorp and its North American subsidiaries, together with
certain of its non-operating subsidiaries outside of North America,
filed Chapter 11 voluntary petitions in Delaware (Bankr. D. Del.
Lead Case No. 15-11357) on June 25, 2015, after reaching agreement
with a group of lenders on a financial restructuring.  The Chapter
11 cases of Molycorp and 20 affiliated debts are pending before
Judge Christopher S. Sontchi.

The agreement provides for a financial restructuring of the
Company's $1.7 billion in debt and provides up to $225 million in
gross proceeds in new financing to support operations while the
Company completes negotiations with creditors.

The Company's operations outside of North America, with the
exception of non-operating companies in Luxembourg and Barbados,
are excluded from the filings.  Molycorp Rare Metals (Oklahoma),
LLC, with operations in Quapaw, Oklahoma, also is excluded from the
filings as it is not 100% owned by the Company.

Molycorp is being advised by the investment banking firm of Miller
Buckfire & Co. and is receiving financial advice from AlixPartners,
LLP.  Jones Day and Young, Conaway, Stargatt & Taylor LLP act as
legal counsel to the Company in this process.  Prime Clerk serves
as claims and noticing agent.


MOLYCORP INC: U.S. Trustee Forms Seven-Member Creditors Committee
-----------------------------------------------------------------
The U.S. trustee overseeing the Chapter 11 case of Molycorp Inc.
appointed seven creditors of the company to serve on the official
committee of unsecured creditors.

The unsecured creditors are:

     (1) Wilmington Savings Fund Society, FSB
         Attn: Patrick Healy
         500 Delaware Ave.
         Wilmington, DE 19801
         Phone: 302-888-7420
         Fax: 302-421-9137

     (2) MP Environmental Services, Inc.
         Attn: Richard Turner
         3400 Manor St.
         Bakersfield, CA 93308
         Phone: 661-393-1151
         Fax: 661-392-1726

     (3) Computershare Trust Company of Canada
         Attn: Shelley Bloomberg
         100 University Ave., 11th Floor
         Toronto, Ontario, M5J 2Y1
         Phone: 212-238-3148

     (4) Veolia Water North America Operating Services LLC
         Attn: Van A. Cates
         14055 Riveredge Dr., Ste. 240
         Tampa, FL 33637
         Phone: 813-983-2804
         Fax: 813-983-2821

     (5) Delaware Trust Company as Indenture Trustee
         Attn: Sandra E. Horwitz
         2711 Centerville Rd.
         Wilmington, DE 19808
         Phone: 877-374-6010 x 62412
         Fax: 302-636-8666

     (6) Wazee Street Capital Management
         Attn: Michael Collins
         7900 E. Union Ave., Ste. 1100
         Denver, CO 80237
         Phone: 303-217-4506
         Fax: 303-843-9111

     (7) Plymouth Lane Partners (Master) LP
         Attn: Mark Kronfeld
         717 5th Ave., 11th Floor
         New York, NY 10022
         Phone: 212-235-2275

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense.  They may investigate the debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

                        About Molycorp

Molycorp Inc. -- http://www.molycorp.com/-- is a global rare
earths and rare metals producer.  Molycorp owns several prominent
rare earth processing facilities around the world.  It has a
workforce of 2,530 employees at locations on three continents.
Molycorp's Mountain Pass Rare Earth Facility in San Bernadino
County, California, is home to one of the world's largest and
richest deposits of rare earths.

Molycorp has corporate offices in the United States, Canada and
China.  CEO Geoffrey R. Bedford, and other senior management
members are located in Molycorp's corporate offices in Toronto,
Canada.  Other senior manageemnt members are located at its U.S.
corporate headquarters in Greendwood Village, Colorado.

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

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

Molycorp and its North American subsidiaries, together with certain
of its non-operating subsidiaries outside of North America, filed
Chapter 11 voluntary petitions in Delaware (Bankr.  D. Del. Lead
Case No. 15-11357) on June 25, 2015, after reaching agreement with
a group of lenders on a financial restructuring.  The Chapter 11
cases of Molycorp and 20 affiliated debts are pending before Judge
Christopher S. Sontchi.

The agreement provides for a financial restructuring of the
Company's $1.7 billion in debt and provides up to $225 million in
gross proceeds in new financing to support operations while the
Company completes negotiations with creditors.

The Company's operations outside of North America, with the
exception of non-operating companies in Luxembourg and Barbados,
are excluded from the filings.  Molycorp Rare Metals (Oklahoma),
LLC, with operations in Quapaw, Oklahoma, also is excluded from the
filings as it is not 100% owned by the Company.

Molycorp is being advised by the investment banking firm of Miller
Buckfire & Co. and is receiving financial advice from
AlixPartners, LLP.  Jones Day and Young, Conaway, Stargatt & Taylor
LLP act as legal counsel to the Company in this process.  Prime
Clerk serves as claims and noticing agent.


MONTREAL MAINE: Canadian Pacific's Settlement Challenge Rejected
----------------------------------------------------------------
The Globe and Mail reported that Canadian Pacific Railway Ltd. has
failed in its attempt to block a court settlement that could pay
millions of dollars in compensation to families of the victims of
the 2013 Lac-Megantic, Quebec, oil-train disaster after Quebec
Superior Court Justice Gaetan Dumas rejected CP's challenge of the
settlement.

As previously reported by The Troubled Company Reporter, a lawyer
for the defunct railroad at the centre of the Lac-Megantic train
derailment said Canadian Pacific is acting deplorably and
offensively by attempting to shut down proceedings to distribute
over $430 million to victims and creditors of the 2013 tragedy.

Most of the roughly 25 companies accused of responsibility in the
July 6, 2013, derailment in Lac-Megantic, Que. that killed 47
people, have agreed to pay money into a settlement fund.  Canadian
Pacific is the only company accused in the tragedy that has refused
to participate in the fund and argued on June 15 the current
settlement process is illegitimate.

                      About Montreal Maine

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

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

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

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

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

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

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

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

                            *     *     *

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

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

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

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

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


NET DATA: Given Until Oct. 21 to File Plan
------------------------------------------
Judge Sheri Bluebond of the U.S. Bankruptcy Court for the Central
District of California, Los Angeles Division, at the behest of Net
Data Centers, Inc., extend the Debtor's exclusive plan filing
period to October 21, 2015, and exclusive solicitation period to
December 21, 2015.

Lewis R. Landau, Esq., at the Law Offices of Paul A. Beck, APC, in
Sherman Oaks, California, tells the Court that the Debtor intends
to seek approval of a disclosure statement and confirmation of a
plan of reorganization that will be designed to pay allowed claims
and interests.  Mr. Landau further tells the Court that the Debtor
intends to utilize the proceeds of its business plan to allocate
pro rata payments to its unsecured creditors, after paying priority
and administrative claims in full.  He says that the Debtor intends
to propose a disclosure statement and plan of reorganization based
on appropriate projections with respect to its anticipated revenues
over the course of the next three to five years.  Mr. Landau notes
that maintaining exclusivity for an additional 120 days will
facilitate moving the case forward toward a fair and equitable
resolution.

The DuPont Fabros Technology, L.P., and its affiliated lessor
entities, also known as the DuPont Parties, objected to the
Debtor's Motion, complaining that the Debtor cannot reorganize by
failing to pay postpetition rent as required by Section 365(d)(3)
of the Bankruptcy Code.  The DuPont Parties' counsel, Robert L.
Eisenbach III, Esq., at Cooley LLP, in San Francisco, California,
relates that the DuPont Parties are landlords to the Debtor under
leases for 4 data centers, three located in Northern Virginia and 1
in New Jersey and the DuPont Parties are owed more than $1.8
million in prepetition rent under these leases, plus an additional
approximately $6.6 million on a promissory note.

In reply to the DuPont Parties' objection, Mr. Landau tells the
Court that the Debtor timely cured any DFT rent owed for June and
was never in default.  He further tells the Court that the Debtor
is now moving to reject DFT’s leases as of July 1, 2015.  He says
that contrary to DFT’s allegations, Debtor has expeditiously
shifted into a business plan to stem accruing losses once lease
negotiations proved unsuccessful.  Mr. Landaue asserts that the
Debtor is duly administering its case and is entering into a
challenging and demanding period of transitioning through the DFT
and Charter lease rejections.  He adds that the transition will
result in Debtor emerging with stabilized and profitable operations
sufficient to support a feasible chapter 11 plan.  Mr. Landau
asserts that this is precisely the period during which exclusivity
should be maintained to facilitate moving the case forward toward a
fair and equitable resolution.

The Official Committee of Creditors Holding Unsecured Claims
supports the Debtor's requested extension so the Debtor can focus
on the successful implementation of the downsizing and
stabilization process before preparing a chapter 11 plan.

The Debtor is represented by:

          Paul A. Beck, Esq.
          Lewis R. Landau, Esq.
          LAW OFFICES OF PAUL A. BECK, APC
          13701 Riverside Drive, Suite 701
          Sherman Oaks, CA 91423
          Telephone: (818)501-1141
          Facsimile: (818)501-1241
          Email: pab@pablaw.org
                 lew@landaunet.com

The DuPont Parties are represented by:

          Robert L. Eisenbach III, Esq.
          J. Michael Kelly, Esq.
          COOLEY LLP
          101 California Street, 5th Floor
          San Francisco, CA 94111-5800
          Telephone: (415)693-2000
          Facsimile: (415)693-2222
          Email: reisenbach@cooley.com
                 kelleyjm@cooley.com

The Committee is represented by:

          Steven M. Spector, Esq.
          Brian T. Harvey, Esq.
          BUCHALTER NEMER, APC
          1000 Wilshire Boulevard, Suite 1500
          Los Angeles, CA 90017-2457
          Telephone: (213)891-0700
          Facsimile: (213)896-0400
          Email: sspector@buchalter.com
                 bharvey@buchalter.com

                    About Net Data Centers

Net Data Centers, Inc. filed a Chapter 11 bankruptcy petition

(Bankr. C.D. Cal. Case No. 15-12690) on Feb. 23, 2015.  Pervez
P.
 Delawalla, the president & CEO, signed the petition.  The
Hon. 
Sheri Bluebond is assigned to the case.  William F Govier,
Esq., at Lesnick Prince & Pappas LLP, serves as counsel to the
Debtor.



The Debtor disclosed $9,110,070 in assets and $5,236,687 in

liabilities as of the Chapter 11 filing.



The U.S. trustee appointed three creditors to serve on the

Official Committee Of Unsecured Creditors.
  The Committee is
represented by Buchalter Nemer, APC.


NEW LOUISIANA: Hearing on Palm Terrace Asset Sale Is on July 28
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Louisiana
will continue on July 28, 2015, at 1:30 p.m. the hearing to
consider New Louisiana Holdings LLC's motion to sell the assets of
the Palm Terrace debtors SA-Lakeland, LLC; SA-Clewiston, LLC; and
SA-St. Petersburg, LLC.

On Jan. 23, 2015, the Palm Terrace Debtors filed a motion seeking,
among other things, authority to assume and assign certain
agreements in connection with the sale of substantially all of the
Palm Terrace Debtors' assets.  On March 20, 2015, the Court entered
an amended order granting the Palm Terrace Debtors' sale motion and
establishing procedures for the assumption and assignment of
executory contracts and unexpired leases.  With respect to the
assumption and assignment of executory contracts and unexpired
leases, the March 20, 2015 amended order provides that the Palm
Terrace Debtors are to file with the Court and serve proper notice
of each executory contract and unexpired lease that the Palm
Terrace Debtors intend be assumed and assigned, along with what the
Palm Terrace Debtors' records show to be the applicable cure
amounts.

On May 11, 2015, the Palm Terrace Debtors served upon the creditor
tort claimants  injured by the Florida nursing homes operated by
the Palm Terrace Debtors a notice of executory contracts and
unexpired leases that may be assumed and assigned, in connection
with the sale, and the proposed cure amounts.  Pursuant to the cure
notice, the Palm Terrace Debtors indicate that they may seek to
assume and assign certain agreements to a potential purchaser of
their assets.  Under the cure notice, the deadline to file
objections to the Palm Terrace Debtors' proposed assumption and
assignment of certain executory contracts was May 26, 2015.

On May 22, 2015, the Claimants filed a preliminary objection to the
notice of executory contracts and unexpired leases that may be
assumed and assigned, in connection with the sale of the assets,
and proposed cure amounts.  The Claimants claim that the assumption
and assignment of the contracts, and in particular the Halcyon
Rehabilitation, LLC contracts, do not enhance the Palm Terrace
Debtors' estate.  According to the Claimants, the Palm Terrace
Debtors fail to provide sufficient information to determine whether
the contracts are executory.

A copy of the objection is available for free at:

                      http://is.gd/IdrjaJ

On May 24, 2015, the Debtors filed a notice of extension of
deadlines to select stalking horse bidder and to submit qualified
bids and rescheduled dates for auctin and sale hearing.

The sale hearing, among other things, was rescheduled to July 7,
2015 at 10:00 a.m. (CT).

The Court also set for July 28 the hearing to consider SA-Lakeland,
LLC's motion for order approving collective bargaining agreement
with United Food and Commercial Workers Union Local 1625 and the
motion to extend the time or limit the exclusivity periods within
which the Debtors may file and solicit acceptances of a plan of
reorganization on behalf of New Lousiana Holdings.

The Court will consider in a hearing on July 21, 2015, at 10:00
a.m. the motion for authorization to implement certain procedures
to employ and compensate professionals in the ordinary course of
business on behalf of New Louisiana Holdings.

The Claimants are represented by:

      James L. Wilkes, II, Esq.
      Bennie Lazzara, Jr., Esq.
      Joanna M. Greber, Esq.
      Katherine A. McFarland, Esq.
      kmcfarland@wilkesmchugh.com
      Wilkes & McHugh, P.A.
      One North Dale Mabry, Suite 800
      Tampa, Florida 33609
      Tel: (813) 873-0026
      Fax: (813) 286-8820
      E-mail: jwilkes@wilkesmchugh.com
              bennie@wilkesmchugh.com
              jgreber@wilkesmchugh.com

               and

      Donohue Patrick & Scott, PLLC
      Kirk A. Patrick, III, Esq.
      450 Laurel Street, Suite 1600
      Baton Rouge, LA 70801
      Tel: (225) 214-1908
      Fax: (225) 214-3551
      E-mail: kpatrick@dps-law.com

                    About New Louisiana Holdings

New Louisiana Holdings LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. La. Case No. 14-50756), on June
25, 2014.

Ten affiliates of New Louisiana -- Acadian 4005 Tenant, LLC (Case
No. 14-50850), Atrium 6555 Tenant, LLC, dba The Atrium at
Lafreniere Assisted Living (Case No. 14-50851), Citiscape 5010
Tenant, LLC, dba Citiscape Apartments (Case No. 14-50853), Lakewood
Quarters Assisted 8585 Tenant, LLC (Case No. 14-50854), Lakewood
Quarters Rehab 8225 Tenant, LLC (Case No. 14-50855), Panola 501
Partners, LP (Case No. 14-50862), Regency 14333 Tenant, LLC (Case
No. 14-50861), Retirement Center 14686 Tenant, LLC (Case No.
14-50856), Sherwood 2828 Tenant, LLC (Case No. 14-50857), St.
Charles 1539 Tenant, LLC (Case No. 14-50858) and Woodland Village
5301 Tenant, LLC (Case No. 14-50859) filed Chapter 11 bankruptcy
petitions on July 16, 2014.

Fifteen additional affiliates of New Louisiana -- SA-PG Ocala LLC
(Case No. 14-50909), SA-PG Operator Holdings LLC (Case No.
14-50912), SA-PG Clearwater LLC (Case No. 14-50913), SA-PG
Gainesville LLC (Case No. 14-50914), SA-PG Jacksonville LLC (Case
No. 14-50915), SA-PG Largo LLC (Case No. 14-50916), SA-PG North
Miami LLC (Case No. 14-50917), SA-PG Orlando LLC (Case No.
14-50918), SA-PG Pinellas LLC (Case No. 14-50919), SA-PG Port St.
Lucie LLC (Case No. 14-50920), SA-PG Sun City Center LLC (Case No.
14-50921), SA-PG Tampa LLC (Case No. 14-50922), SA-PG Vero Beach
LLC (Case No. 14-50923), SA-PG West Palm Beach LLC (Case No.
14-50924) and SA-PG Winterhaven LLC (Case No. 14-50925) filed
separate Chapter 11 bankruptcy petitions on July 28, 2014.

Four more affiliates of New Louisiana -- CHC-CLP Operator Holding
LLC (Case No. 14-51104), SA-St. Petersburg LLC (Case No. 14-51101),
SA-Clewiston LLC (Case No. 14-51102) and SA-Lakeland LLC (Case No.
14-51103) -- that operate skilled nursing facilities located in
Lakeland, Clewiston and St. Peterburg, Florida, sought protection
under Chapter 11 of the Bankruptcy Code on Sept. 3, 2014.

The Chapter 11 cases are jointly consolidated with New Louisiana's
Chapter 11 case at Case No. 14-50756 before Judge Robert Summerhays
of the United States Bankruptcy Court for the Western District of
Louisiana (Lafayette).

The Debtors are represented by Patrick J. Neligan, Jr., Esq., at
Neligan Foley LLP, in Dallas, Texas.  Jan M. Hayden and Baker
Donelson Bearman Caldwell & Berkowitz, P.C. serves as local
counsel.

The U.S. Trustee for Region 5 on Oct. 3, 2014, appointed three
creditors of New Louisiana Holdings, LLC, to serve on the official
committee of unsecured creditors.  Pepper Hamilton LLP and
McGlinchey Stafford PLLC serve as counsel to the Committee.


NEW YORK CITY OPERA: Board Withdraws Plan to Sell Name
------------------------------------------------------
Jennifer Smith, writing for The Wall Street Journal, reported that
a plan to sell off New York City Opera's name and other assets has
been withdrawn by the defunct opera company's board, following
months of legal wrangling between two bidders who both hope to
revive the scrappy company once known as "The People's Opera."

According to the Journal, the opera's board has recently been
weighing another option: reorganizing the company through the
bankruptcy process, with one of the bidders serving as a plan
sponsor.

                     About New York City Opera

New York City Opera, Inc., sought Chapter 11 bankruptcy protection
(Bankr. S.D.N.Y. Case No. 13-13240) on Oct. 3, 2013.  Created 70
years ago, the company was once dubbed "the people's opera" by
Mayor Fiorello LaGuardia, and was a breeding ground for young
talent that included Beverly Sills and Placido Domingo.

The Opera estimated between $1 million and $10 million in both
assets and debt.

The petition was signed by George Steel, general manager and
artistic director.  Kenneth A. Rosen, Esq., at Lowenstein Sandler
LLP, serves as the opera's counsel.  Ewenstein Young & Roth LLP
serves as special counsel.


NEW YORK MILITARY: ALG Seeks to Pursue State Court Suit
-------------------------------------------------------
Advanced Learning Group, LLC, asks the U.S. Bankruptcy Court for
the Southern District of New York, Poughkeepsie Division, to modify
the automatic stay imposed in the Chapter 11 case of New York
Military Academy, in order to proceed with a lawsuit pending in a
state court.

Advanced Learning is represented by:

          Brian J. Butler, Esq.
          BOND, SCHOENECK & KING, PLLC
          One Lincoln Center
          Syracuse, New York 13202
          Telephone: (315)218-8000
          Facsimile: (315)218-8100
          Email: bbutler@bsk.com

                   About New York Military Academy

New York Military Academy, a private coeducational boarding school,
filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case No.
15-35379) on March 3, 2015.  David B. Fields signed the petition as
first vice-president.  The Debtor reported total assets of $10.5
million and total debts of $10.9 million.



Lewis D. Wrobel, Esq., at Lewis D. Wrobel, represents the Debtor as
counsel.



The U.S. Trustee for Region 2 appointed three unsecured
creditors
to serve on the Official Committee of Unsecured
Creditors.



NEW YORK MILITARY: Lender Seeks to Pursue Foreclosure Suit
----------------------------------------------------------
Cornwall Improvement, LLC, asks the U.S. Bankruptcy Court for the
Southern District of New York to lift the automatic stay imposed in
the Chapter 11 case of New York Military Academy to allow it to
continue to prosecute the foreclosure action initiated in state
court.

Cornwall lent the Debtor $5,850,000, with the obligation secured by
a first mortgage on the Debtor's real property located at 78
Academy Avenue, in Cornwall, New York, as well as a security
interest in all of its personal property and fixtures.  

Cornwall's counsel, Thomas Genova, Esq., at Genova & Malin, in
Wappingers Falls, New York, tells the Bankruptcy Court that the
obligations owed to Cornwall Improvement fell into default and a
foreclosure action was commenced in the New York State Supreme
Court, County of Orange.  As of July 1, 2015, the Debtor owes
Cornwall Improvement approximately $8,300,000.  The Debtor has not
filed a Plan of Reorganization and Disclosure Statement, and
neither has the Debtor obtained an Order approving a Sale.  Mr.
Genova sayd Cornwall Improvement's collateral is not adequately
protected, as the Debtor currently maintains no operations and has
been almost wholly dependent on Cornwall Improvement's
debtor-in-possession loan to survive, and that it would be unfair
and inequitable to delay Cornwall Improvement in the foreclosure of
the Debtor's real property.  He adds that the Debtor is unable, on
a cash flow basis, to pay its insurance, property maintenance, or
any adequate protection payments.

Cornwall is represented by:

          Thomas Genova, Esq.
          Andrea B. Malin, Esq.
          GENOVA & MALIN
          Hampton Business Center
          1136 Route 9
          Wappingers Falls, New York 12590
          Telephone: (845)298-1600

                  About New York Military Academy

New York Military Academy, a private coeducational boarding school,
filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case No.
15-35379) on March 3, 2015.  David B. Fields signed the petition as
first vice-president.  The Debtor reported total assets of $10.5
million and total debts of $10.9 million.



Lewis D. Wrobel, Esq., at Lewis D. Wrobel, represents the Debtor as
counsel.



The U.S. Trustee for Region 2 appointed three unsecured
creditors
to serve on the Official Committee of Unsecured
Creditors.


NORTH AMERICAN TUNGSTEN: Court Approves Callidus Financing Deal
---------------------------------------------------------------
North American Tungsten Corporation Ltd. on July 10 disclosed that
it has entered into a $2.5 million interim financing with Callidus
Capital Corporation, which was approved by the Supreme Court of
British Columbia on July 9, 2015.

Under the terms of the Interim Facility, Callidus has agreed to
lend to the Company $2.5 million, to be drawn down in accordance
with the Company's cash flow statement that has been provided to
Callidus.  The interest rate for the Interim Facility is 21% per
annum, subject to an additional 2% default interest rate.  The
Interim Facility will mature on the earlier of November 15, 2015
and the end of the stay of proceedings pursuant to the initial
Court order under the Companies' Creditors Arrangement Act.  The
Interim Facility is secured by a first-ranking super priority
charge against all assets of NATC.  The Company also entered into a
forbearance agreement with Callidus pursuant to which the Company
has agreed to continue to make payments to Callidus in respect of
its existing loans and other covenants in return for Callidus
forbearing from exercising its rights and remedies under its
existing loans.

On June 9, 2015, NATC commenced restructuring proceedings under the
CCAA pursuant to the Initial Order.  NATC's need to restructure
under the CCAA was attributable to a number of factors including
the continuation of low prevailing market prices of APT, high debt
service payments, insufficient capitalization, and operational
issues.

While NATC had successfully stabilized its business operations
after the initial filing and had implemented certain cost-saving
measures to substantially cover its operating costs, the Company
required interim financing to provide sufficient capital to effect
an orderly restructuring of the operations.

In addition to approving the Interim Facility, the Court also
extended the relief under the Initial Order to July 17, 2015.  The
Company anticipates seeking a further extension at that time, in
conjunction with approval of a Sale and Investor Solicitation
Process.  The Company will release further details regarding the
SISP in due course.

In the interim, while under CCAA protection, creditors and others
are stayed from pursuing any claims or enforcing any rights against
NATC.  During this time, and with the benefit of the Interim
Facility, NATC expects operations will continue uninterrupted and
all obligations to employees and suppliers of goods and services
provided after the filing date will continue to be met.

All inquiries regarding the CCAA proceeding should be directed to
Alvarez & Marsal Canada Inc., the Court appointed monitor in the
CCAA proceeding (Marianna Lee, (604) 639-0845).  Information about
the Company's CCAA proceeding, including all Court Orders and the
Monitor's reports, will be available on the Monitor's website at
www.alvarezandmarsal.com/northamerican

          About North American Tungsten Corporation Ltd.

The Company is a publicly listed Tier 1 Junior Resource Company
engaged primarily in the operation, development, and acquisition of
tungsten and other related mineral properties in Canada.  The
Company's 100% owned Cantung mine and Mactung development project
make it one of the few tungsten producers with a strategic asset in
the western world.  Mactung is one of the world's largest known
undeveloped high grade tungsten-skarn deposits.



ONE SOURCE: Can Pay Adequate Protection to RBS Citizens Bank
------------------------------------------------------------
U.S. Bankruptcy Judge Russell F. Nelms has signed off on an agreed
order authorizing One Source Industrial Holdings, LLC, and One
Source Industrial LLC to grant adequate protection to RBS Citizens
Bank N.A.

Prior to the Petition Date, RBS Citizens claims a security interest
against One Source in a 2013 Dodge Ram 1500 truck to secure claims
of $27,949.74, which is disputed by the Debtors.

Under the agreed order, the automatic stay currently in effect in
the Chapter 11 cases will remain in effect with respect to Citizens
contingent upon Holdings making monthly adequate protection
payments to Citizens in the amount of $190.94 each, with such
adequate protection payments being due and payable by Holdings to
Citizens on the 10th day of each month, beginning on July 10, 2015,
and continuing until the confirmation of the Debtors' plan of
reorganization.  Holdings shall have a 7-calendar day grace period
from the due date in which to make each payment without being in
breach of the Order.

                    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.



ONE SOURCE: Seeks Approval of Insurance Premium Finance Agreement
-----------------------------------------------------------------
One Source Industrial Holdings, LLC, ask the Bankruptcy Court to
approve Postpetition Insurance Premium Finance and Security
Agreement and authorizing payment of flat fee to Insurance Broker.

The Debtors obtained new policies for their Insurance on June 10,
2015.  However, the Debtors have not yet made payment for the
premiums on the new policies.  The premiums for all Insurance total
over $1.6 million. The Debtors are not able to pay the premiums in
a lump sum and must therefore finance the premiums.  The Debtor and
BankDirect Capital Finance, a division of Texas Capital Bank, have
negotiated the terms of a Commercial Insurance Premium Finance and
Security Agreement.

Under the Loan Agreement, BankDirect will finance the Debtors'
purchase of the Insurance.  Under the Loan Agreement, a $250,000
down payment is required and the amount financed is $1,360,513.47.
The Debtors are required to make 10 monthly installment payments to
BankDirect in the amount of $139,247.93 each, with the first such
payment due on July 1, 2015 and subsequent payments due on the
first day of each succeeding month.

As collateral to secure repayment of the indebtedness due under the
Loan Agreement, the Debtors grant to BankDirect a security interest
in, among other things, the Insurance policies and any unearned
premiums of the Insurance policies.  Under the Loan Agreement,
BankDirect is appointed as the Debtors' attorney-in-fact with the
irrevocable power to cancel the Insurance policies and collect the
unearned premiums in the event that the Debtors default on their
obligations under the Loan Agreement.

The Debtors and BankDirect have also agreed to the following
additional form of adequate protection not expressly stated in the
Loan Agreement: if the Debtors do not timely make any of the
payments due under the Loan Agreement as they become due, the
automatic stay of section 362 of the Bankruptcy Code shall
automatically lift to enable BankDirect and/or third parties,
including insurance companies providing the coverage under the
Insurance policies, to take all steps necessary and appropriate to
cancel the Insurance policies, collect the collateral and apply
such collateral to the indebtedness owed to BankDirect by the
Debtors; provided, however, that in exercising such rights,
BankDirect and/or third parties shall comply with the notice
requirements and other relevant provisions of the Loan Agreement.

In the past, Industrial utilized insurance brokers to procure
policies and paid on a commission basis.  Industrial changed
brokers for purposes of obtaining the new Insurance policies.
Industrial's new broker is Willis of Texas, Inc.  Industrial
negotiated an Insurance Procurement Service Agreement.

The Procurement Agreement requires Industrial to pay a flat fee to
Willis of $100,000 in exchange for Willis's services in procuring
the Insurance for the Debtors.  The Flat Fee is payable in four
monthly installments of $25,000 each, with such installments due on
the following days: August 31, 2015; September 30, 2015; October
31, 2015; and November 30, 2015.  Willis will also provide a number
of other ancillary services free of charge.

The Flat Fee is akin to a typical commission charged by an
insurance broker.  However, Industrial believes that the Flat Fee
negotiated with Willis is less than what Industrial would have to
pay to a broker on a commission basis. Therefore, not only is the
Flat Fee a normal expense associated with the essential insurance
procurement services provided by Willis, it amounts to a discounted
expenses that will result in overall savings for Industrial's
estate.

                       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.



ONE SOURCE: To Make Monthly Payments to JPM for Vehicle Use
-----------------------------------------------------------
U.S. Bankruptcy Judge Judge Russell F. Nelms has signed off on an
agreed order authorizing One Source Industrial Holdings, LLC, and
One Source Industrial LLC to grant adequate protection to JPMorgan
Chase Bank, N.A.

JPMorgan Chase Bank, as creditor, asserts a perfected purchase
money security interest in a 2012 Dodge Ram 3500, Vehicle
Identification Number 3C7WDTCL2CG198119.  Creditor Midland County
has also asserted an interest in the Vehicle on account of a tax
lien.

As a condition for the use of the Vehicle, the Debtor will pay
adequate protection payments of $325.78 monthly beginning June 20,
2015 and will continue to pay on the 20th day of each consecutive
month until the Effective Date of Debtor's Chapter 11 Plan or as
provided in any order regarding confirmation of the Debtor’s
Chapter 11 Plan.  In the event that Debtor surrenders the Vehicle
or files a Chapter 11 Plan to surrender the Vehicle, the automatic
stay will immediately terminate as to the Vehicle.

                       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.



OXANE MATERIALS: Amends List of 20 Largest Unsecured Creditors
--------------------------------------------------------------
Oxane Materials, Inc., filed with the U.S. Bankruptcy Court for the
Southern District of Texas amended list of creditors holding 20
largest unsecured claims, which (i) includes Comerica Bank and
Northern Metalic Sales Ltd.; and (ii) excludes TEC Staffing
Services and Eutectic Corporation from the list.

  Name of creditor            Nature of claim    Amount of Claim
  ----------------            ---------------    ---------------
Total Energy Ventures         Investor            $1,707,345
International (SAS
2 place Jean Millier
La Defense 6
92078 Paris La Defense Cedex
France

Comerica Bank                 Loans               $7,027,122
333 West Santa Clar St.
12th Floor
San Jose, CA 95113

BP Alternative Energy         Investor              $720,417
International Ltd
150 West Warrenville Road, J-8
Naperville, IL 60563

Zschimmer & Schwarz Inc.      Services              $555,102
70 GA Highway 22W
Milledgeville, GA 31061

Alan L. Sarroff               Investor              $353,820
43 Meadow Woods Road
Great Neck, NY 11020-1324

Arkansas Economic             Note                  $259,999
Development Commission
900 West Capitol Avenue
Suite 400
Little Rock, AR 72201

Thermal Specialties           Services              $235,765
Construction

Aluchem Inc.                  Materials             $209,550

Crawford County Tax           Property Taxes        $184,683
Collector

Paresh D. Kanani              Investor              $175,000
41 Holmead Road  

Equipment Pro, Inc.          Services               $163,959

Hess Pumice Products, Inc.   Materials              $150,474

Glencore Ltd.                Services               $147,889

Schneck Process, LLC         Services               $147,045

Spraying Systems Co.         Services               $139,191

Cockrum Welding Fabrication, Services               $137,218
Inc.

Savino Del Bene USA, Inc.    Services                $82,416

Lazard Freres & Co. LLC      Services                $72,882

Northern Metalic Sales Ltd.  Railcar                 $70,035

Staccato International Co.   Services                $65,093

                      About Oxane Materials

Oxane Materials, Inc., a developer of nanotechnologies based in
Houston, Texas, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex., Case No. 15-32940), on May 31,
2015.  The case is assigned to Judge Jeff Bohm.

The Debtor tapped to employ Morris Dean Weiss, Esq., at Taube
Summers Harrison Taylor Meinzer Brown LLP as bankruptcy counsel;
Gregory S. Milligan of Harney Management Partners, LLC, as chief
restructuring officer.

The Debtor sought authorization to sell all of its intellectual
property assets to Halliburton Energy Services Inc. for
$2,500,000.

The Debtor's prepetition lender Comerica Bank is represented by J.
Frasher Murphy, Esq., and Sean B. Davis, Esq., at Winstead PC.



OXANE MATERIALS: Files Schedules of Assets and Liabilities
----------------------------------------------------------
Oxane Materials, Inc., filed with the U.S. Bankruptcy Court for the
Southern District of Texas its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                  $450,000
  B. Personal Property            $5,398,972
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $39,615,372
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $211,025
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                        $3,196,844
                                 -----------      -----------
        Total                     $5,848,972      $43,023,241

A copy of the schedules is available for free at:

        http://bankrupt.com/misc/OxaneMaterials_95_SAL.pdf

                      About Oxane Materials

Oxane Materials, Inc., a developer of nanotechnologies based in
Houston, Texas, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex., Case No. 15-32940), on May 31,
2015.  The case is assigned to Judge Jeff Bohm.

The Debtor tapped to employ Morris Dean Weiss, Esq., at Taube
Summers Harrison Taylor Meinzer Brown LLP as bankruptcy counsel;
Gregory S. Milligan of Harney Management Partners, LLC, as chief
restructuring officer.

The Debtor sought authorization to sell all of its intellectual
property assets to Halliburton Energy Services Inc. for
$2,500,000.

The Debtor's prepetition lender Comerica Bank is represented by J.
Frasher Murphy, Esq., and Sean B. Davis, Esq., at Winstead PC.



OXANE MATERIALS: Has Final Authority to Use Cash Collateral
-----------------------------------------------------------
Judge Jeff Bohm of the United States Bankruptcy Court for Southern
District of Texas, Houston Division, gave Oxane Materials, Inc.,
final authority to use cash collateral securing its prepetition
indedtedness from Comerica Bank.

As of the Petition Date, the Debtor's indebtedness to the Lender
includes unpaid principal in the amount of at least $7,027,122,
accrued but unpaid interest in the amount of at least $128,752,
credit card indebtedness in the amount of $6,003, and other unpaid
fees and expenses.  

The Debtor also notified that it has completed on July 1, 2015, the
investigation as defined in the Final Cash Collateral Order.

The Debtor is represented by:

         Eric J. Taube, Esq.
         Morris D. Weiss, Esq.
         Christopher G. Bradley, Esq.
         TAUBE SUMMERS HARRISON TAYLOR MEINZER BROWN LLP
         100 Congress Avenue, Suite 1800
         Austin, TX 78701
         Tel: 512  472-5997
         Fax: 512 472-5248
         Email: etaube@taubesummers.com
                mweiss@taubesummers.com
                cbradley@taubesummers.com

               About Oxane Materials

Oxane Materials, Inc., a developer of nanotechnologies based in
Houston, Texas, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex., Case No. 15-32940), on May 31,
2015.  The case is assigned to Judge Jeff Bohm. The Debtor's
counsel is Morris Dean Weiss, Esq., at Taube Summers Harrison
Taylor Meinzer Brown LLP, in Austin, Texas.


PASTAZIOS PIZZA: Owner Files Chapter 11 Bankruptcy Petition
-----------------------------------------------------------
Gruber Hurst Elrod Johansen Hail Shank on July 10 disclosed that a
young woman who was sexually assaulted in 2011 by the owner of a
popular pizza restaurant in Addison, Texas, has been awarded $21.43
million following a four-day bench trial heard in the 193rd
District Court in Dallas.

Judge Carl Ginsberg issued the award on July 9 after hearing
evidence that Ajredin "Danny" Deari, owner of co-defendant
Pastazios Pizza in Addison, served the then-18-year-old victim
multiple rounds of beer and whiskey at the restaurant under the
pretext of a job interview.

The victim eventually passed out and awoke in a nearby hotel room
while she was being sexually assaulted by Mr. Deari, who then fled
the scene.  Subsequent physical examinations determined that
Mr. Deari had infected her with herpes during the assault.

The woman, who is identified as "Jane Doe" due to the nature of the
assault and her age at that time, was in Judge Ginsberg's courtroom
throughout the trial.

"The judge called this the most offensive set of facts he had ever
seen during his time on the bench," says Dallas attorney Trey
Crawford of Gruber Hurst Elrod Johansen Hail Shank, who represented
the woman at trial with co-counsel Royce West of Dallas' West &
Associates L.L.P. and Gruber Hurst Elrod co-founder Michael
Gruber.

Mr. Deari pleaded no contest to criminal charges and the next day
filed for personal and business bankruptcy protection.  Pastazios
continues to operate under Chapter 11 status.

"This is certainly one of the largest bench trial judgments in
Dallas County in recent memory," says Mr. West.  "This young woman
has been waiting for justice for four long years, and she's fought
very hard to make sure that every business owner is aware of the
consequences of their actions."

Gruber Hurst Elrod attorney Brian Mason also represented the woman
at trial.

The case is Jane Doe v. Pastazios Pizza, Inc.; and Ajredin "Danny"
Deari, No. 13-04564.


PLZ AEROSCIENCE: S&P Assigns 'B' Proposed Secured Debt Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it is assigning a 'B'
issue-level rating to Plaze Inc.'s (a wholly owned subsidiary of
PLZ Aeroscience Corp.) proposed secured debt to be issued for PLZ
Aeroscience Corp. composed of a first lien $30 million revolver and
a $315 million term loan following the announcement that a new
financial sponsor, Pritzker Group Private Capital, is acquiring the
company.  At the same time, S&P is assigning a '3' recovery rating
to the proposed first-lien debt indicating its expectation of
meaningful (lower half of the 50% to 70% range) recovery in the
event of default.  S&P changed the EBITDA multiple to 5.5x from 5x
to account for the company's stronger operating margins relative to
its peers'.  Pritzker is buying the business from Olympus Partners,
which acquired a majority stake in the company in 2011 from AEA
Investors.

The 'B' corporate credit rating and stable outlook is unchanged.
The ratings on PLZ Aeroscience reflect Standard & Poor's assessment
of the company's "weak" business risk, "highly leveraged" financial
risk, and "adequate" liquidity.

Simulated default and valuation assumptions
   -- Simulated year of default: 2018
   -- EBITDA at emergence: $35 million
   -- EBITDA multiple: 5.5x

Simplified waterfall:
   -- Net enterprise value (after 5% administrative costs): $183
      million
   -- Valuation split in % (obligors/nonobligors): 75/25
   -- Value available to first-lien debt claims
       (collateral/noncollateral):
   -- $169 million/$14 million
   -- Secured first-lien debt claims: $352 million
   -- Recovery expectations: 50% to 70% (lower half of the range)
   -- Total value available to unsecured claims: $14 million
   -- Recovery expectations: Not applicable

Notes: All debt amounts include six months of prepetition interest.
Collateral value equals asset pledge from obligors after priority
claims plus equity pledge from nonobligors after nonobligor debt.

RATINGS LIST

PLZ Aeroscience Corp.
Corporate credit rating                    B/Stable/--

New Rating
Plaze Inc.
Senior secured
$30 million revolver first-lien debt      B
$315 million term loan                    B
  Recovery rating                          3



PROSPECT SQUARE: Proposes to Sell Ohio Shopping Center for $12.2MM
------------------------------------------------------------------
Prospect Square 07 A, LLC, and its affiliated debtors seek
permission from the U.S. Bankruptcy Court for the District of
Colorado to sell their retail shopping center at 9690 Colerain
Ave., in Cincinnati, Ohio, to ACF Property Management, Inc., for
$12,200,000.

The parties agreed that the sale closing date would be July 31,
2015, or an earlier date designated by the Buyer up to not less
than 5 business days' prior written notice.

The Debtors' counsel, Leigh A. Flanagan, Esq., at Kurtner Brinen
Garber, P.C., in Denver, Colorado, asserts that if approved, the
sale will allow the Debtors to comply with the Settlement Agreement
which represents a global and reasonable resolution of the issues
that are involved in the bankruptcy proceeding, receivership and
foreclosure proceeding.  Ms. Flanagan adds that the sale will
result in a work-out between the parties and a consensual sale of
the Property, without need for further expense in the pending
proceedings.

The Debtors are represented by:

          Lee M. Kutner, Esq.
          Leigh A. Flanagan, Esq.
          KURTNER BRINEN GARBER, P.C.
          1660 Lincoln Street, Suite 1850
          Denver, CO 80264
          Telephone: (303)832-2400
          Facsimile: (303)832-1510
          Email: lmk@kurtnerlaw.com
                 laf@kurtnerlaw.com

                 About Prospect Square

Prospect Square 07 A, LLC, and related entities sought Chapter
11
bankruptcy protection from creditors (Bankr. D. Colo. Lead
Case
No. 14-10896) in Denver on Jan. 29, 2014.



Prospect Square 07 A is a Single Asset Real Estate as defined
in
11 U.S.C. Sec. 101(51B) with principal assets located at 9690

Colerain Avenue, Cincinnati, Ohio.  The Debtor listed $16
million
in assets and more than $12 million in liabilities.  Lee
M. 
Kutner, Esq., at Kutner Brinen Garber, P.C., in Denver,
serves as 
the Debtors' counsel.



Lender MSCI 2007-IQ16 Retail 9654, LLC, is represented by James T.

Markus, Esq., and Jeffery O. McAnallen, Esq., at Markus
Williams
 Young & Zimmermann LLC.



The U.S. Trustee for Region 19 said that no committee of unsecured

creditors for the case was formed since there were too few

creditors who are willing to serve on the committee.



PROSPECT SQUARE: U.S. Trustee Seeks Dismissal of Ch. 11 Cases
-------------------------------------------------------------
Patrick S. Layng, U.S. Trustee for Region 19, asks the U.S.
Bankruptcy Court for the District of Colorado to dismiss the
Chapter 11 cases of Prospect Square 07 A, LLC, and its debtor
affiliates, as there appears to be no assets that can be
administered for the benefit of unsecured creditors.

Daniel Morse, Assistant U.S. Trustee, tells the Court that as a
result of an order granting the motion for relief from stay on the
Debtors' primary asset dated February 17, 2015, there appears to
have been a substantial diminishment of the bankruptcy estate.  Mr.
Morse further tells the Court that the continued accrual of
administrative expenses, including U.S. Trustee quarterly fees and
professional fees, is also diminishing the bankruptcy estate.  He
adds that the entry of the Stay Relief Order leaves Debtor unable
to rehabilitate itself.

MSCI 2007-IQ16 Retail 9654, LLC, Lender, tells the Court that while
the Lender does not object to the dismissal of the bankruptcy case
as requested by the U.S. Trustee, it objects to the form of the
order and request that the Court enter an order specifically
providing that the order approving its Settlement with the Debtors
and the Settlement Agreement survive the dismissal of the
bankruptcy cases.

The Dismissal Motion and the Limited Objection are scheduled for a
non-evidentiary hearing on July 22, 2015.

MSCI 2007 is represented by:

          James T. Markus, Esq.
          Jeffrey O. McAnallen, Esq.
          MARKUS WILLIAMS YOUNG & ZIMMERMANN LLC
          1700 Lincoln, Suite 4550
          Denver, CO 80203
          Telephone: (303)830-0800
          Facsimile: (303)830-0809
          Email: jmarkus@markuswilliams.com
                 jmcanallen@markuswilliams.com

                   About Prospect Square

Prospect Square 07 A, LLC, and related entities sought Chapter
11
bankruptcy protection from creditors (Bankr. D. Colo. Lead
Case
No. 14-10896) in Denver on Jan. 29, 2014.



Prospect Square 07 A is a Single Asset Real Estate as defined
in
11 U.S.C. Sec. 101(51B) with principal assets located at 9690

Colerain Avenue, Cincinnati, Ohio.  The Debtor listed $16
million
in assets and more than $12 million in liabilities.  Lee
M.
Kutner, Esq., at Kutner Brinen Garber, P.C., in Denver, serves
as 
the Debtors' counsel.



Lender MSCI 2007-IQ16 Retail 9654, LLC, is represented by James
T.
 Markus, Esq., and Jeffery O. McAnallen, Esq., at Markus
Williams
 Young & Zimmermann LLC.



The U.S. Trustee for Region 19 said that no committee of
unsecured
 creditors for the case was formed since there were too
few
 creditors who are willing to serve on the committee.



RADIOSHACK CORP: Asks Judge to Toss Gift-Card Suit
--------------------------------------------------
Tom Corrigan, writing for Dow Jones' Daily Bankruptcy Review,
reported that lawyers for the former RadioShack Corp. have asked a
bankruptcy judge to throw out a lawsuit brought by the Texas
attorney general over the retailer's unredeemed gift cards.

According to the report, in papers filed on July 14 with the U.S.
Bankruptcy Court in Wilmington, Del., the former RadioShack said
the rights of its gift-card holders are fully protected under a
liquidation plan it hopes to present for court approval in August.

                   About RadioShack Corporation

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

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

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

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

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

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

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


REMY INTERNATIONAL: S&P Puts 'BB-' CCR on CreditWatch Positive
--------------------------------------------------------------
Standard & Poor's Ratings Services said that it has placed its
ratings on Pendleton, Ind.-based rotating electrical component
producer Remy International Inc., including S&P's 'BB-' corporate
credit rating on the company, on CreditWatch with positive
implications.

"The CreditWatch placement follows BorgWarner Inc.'s announcement
that it plans to acquire Remy International for about $1.2
billion," said Standard & Poor's credit analyst Naomi Dsouza.  The
transaction is subject to customary terms and conditions, including
antitrust and regulatory clearances in the U.S. and abroad.  S&P
expects that all of Remy's outstanding senior secured debt that S&P
rates will be repaid as part of this transaction.

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



RESIDENTIAL CAPITAL: Objection to Claim No. 4091 Sustained
----------------------------------------------------------
Judge Martin Glenn of the United States Bankruptcy Court for
Southern District of New York sustained ResCap Borrower Claims
Trust's objection to claim no. 4091 filed by Joycelyn W. Unciano.

Claim No. 4091 is based on state law causes of action that Unciano
had previously asserted against Debtor GMAC Mortgage, LLC, in an
action removed to Hawaii federal court.  The Trust, in an omnibus
objection to similar claims, argued that Unciano's Claim is barred
by the doctrine of res judicata because her action was dismissed
with prejudice and the dismissal was affirmed on appeal.

Judge Glenn said claim is disallowed and expunged in its entirety.
Unciano's ongoing Land Court action is not an action for damages
and does not carve out an exception to res judicata, Judge Glenn
ruled.  Because Unciano's Claim seeking money damages against GMACM
is based solely on the Unciano Action, which has been finally
adjudicated on the merits by the District Court, her Claim is
barred by the doctrine of res judicata, Judge Glenn concluded.

The bankruptcy case is In re: RESIDENTIAL CAPITAL, LLC, et al.,
Chapter 11, Debtors, Case No. 12-12020 (MG), JOINTLY ADMINISTERED
(Bankr. S.D.N.Y.).

A full-text copy of Judge Glenn's Memorandum Opinion and Order
dated June 26, 2015, available at http://is.gd/kZddvWfrom
Leagle.com.

Norman S. Rosenbaum, Esq. -- nrosenbaum@mofo.com -- Jordan A.
Wishnew, Esq. -- jwishnew@mofo.com -- Jessica J. Arett, Esq. --
jarett@mofo.com -- of Morrison & Foerster LLP serve as counsel for
The ResCap Borrower Claims Trust.

Joycelyn W. Unciano Pro Se.

                     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.


RIENZI & SONS: Alma Bank Balks at Bid to Extend Exclusive Periods
-----------------------------------------------------------------
Alma Bank, a secured creditor of Rienzi & Sons, Inc., objected to
Rienzi's motion seeking an extension of its exclusive periods to
file and solicit acceptances for a plan of reorganization.

According to Alma Bank, the motion must be denied because:

   A) Rienzi failed to prove that cause exists to grant the
motion;

   B) the real basis for extending the exclusivity periods is the
Debtor's desire to await the outcome of its pending actions,
which is not cause; and

   C) Rienzi did not demonstrate reasonable prospects for filing a
viable plan.

As reported in the Troubled Company Reporter on June 8, 2015, the
Debtor is asking that the Court extend its exclusive plan filing
date until Sept. 29, 2015, and its exclusive solicitation period
through and including Nov. 28.

According to Vincent J. Roldan, Esq., at Ballon Stoll Bader &
Nadler, P.C., in New York, the Debtor believes that its business
operations are strong in that it has been profitable, has not lost
any major suppliers or customers, and is able to pay its
postpetition expenses.  The Debtor, Mr. Roldan says, has been
focusing on obtaining financing in order to grow its business and
is operating on cash collateral with Court approval on an interim
basis.  The final hearing on cash collateral, however, has been
adjourned four times thus far in part because the Debtor has not
been able to find financing, and thus it is unclear what the
Debtor's business operations will look like in the near future, Mr.
Roldan told the Court.  For related reasons, the Debtor has not had
a meaningful opportunity to negotiate a plan of reorganization.
The Debtor anticipated that once it receives postpetition
financing, it will be in a better position to provide relevant
financial information to creditors, and hopefully negotiate a
consensual plan of reorganization.

Mr. Roldan said the Debtor anticipates negotiating a plan of
reorganization with its creditors which could be filed in July or
August 2015.

                    About Rienzi & Sons

Rienzi & Sons filed a Chapter 11 bankruptcy petition
(Bankr.E.D.N.Y. Case No. 15-40926) on March 3, 2015.  The petition
wassigned by Michael Rienzi as president.  The Debtor disclosed
assets of approximately $13,349,383 and total liabilities of
$24,965,511.

Vincent J Roldan, Esq., and Michael J. Sheppeard, Esq., at Ballon
Stoll Bader & Nadler P.C., serve as counsel to the Debtor.  Judge
Nancy Hershey Lord presides over the Chapter 11 case.

Lender Alma Bank consented to the interim use of cash collateral.

The U.S. Trustee for for Region 2 appointed five creditors to serve
in the Official Committee of Unsecured Creditors.  Klestadt Winters
Jureller Southard & Stevens LLP represents the Committee.



RYAN LLC: S&P Assigns 'B' CCR & Rates $300MM Facility 'B'
---------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its 'B'
corporate credit rating to Dallas-based tax service provider Ryan
LLC.  The rating outlook is stable.

At the same time, S&P assigned its 'B' issue-level rating and '3'
recovery rating to the company's $300 million senior secured
first-lien credit facility, which consists of a $50 million
revolving credit facility due 2020 and a $250 million senior
secured term loan due 2020.  The '3' recovery rating indicates
S&P's expectation for meaningful recovery (50%-70%; lower half of
the range) of principal in the event of a payment default.

"The 'B' corporate credit rating on Ryan reflects our expectation
that the company will continue to grow revenue and EBITDA in both
domestic and international markets, while maintaining 'adequate'
liquidity and beginning to generate positive discretionary cash
flow," said Standard & Poor's credit analyst Elton Cerda.

Ryan is a global provider of tax services.  Although the company
has offices in 13 countries and serves clients in 40 countries, it
generates the vast majority of its revenue from the U.S. and
Canada.  Ryan has a large and diverse client base, with minimum
customer concentration.  Transaction and property tax services are
the company's largest practice areas, accounting for almost 70% of
revenues.

The stable rating outlook on Ryan reflects S&P's expectation that
the company will continue to grow its revenue and EBITDA, begin to
generate positive discretionary cash flow, and maintain "adequate"
liquidity over the next 12-18 months.

S&P could lower the rating one notch to 'B-' if the demand for tax
services declines or if the company's international expansion
proves to be unsuccessful.  This could result from high startup
cost without commensurate revenue growth, causing debt leverage to
exceed 5x, or if negative (or near breakeven) discretionary cash
flows persist in 2016.

S&P is unlikely to raise the rating on Ryan over the next 12-18
months because of risks regarding the company's international
expansion and ability to generate sustained discretionary cash
flow.  An upgrade would likely entail the company generating
meaningful, sustained discretionary cash flow and reducing its
average days sales outstanding on it unbilled revenue to more
manageable levels.



SALADWORKS LLC: SSG Advises Sale of Assets to Centre Lane
---------------------------------------------------------
SSG Capital Advisors, LLC, acted as the investment banker to
Saladworks, LLC in the sale of substantially all of its assets to
an affiliate of Centre Lane Partners, LLC.  The sale was
effectuated through a Chapter 11 Section 363 process in the U.S.
Bankruptcy Court for the District of Delaware and closed in June
2015.

Saladworks, the nation's first and largest fresh-tossed salad
franchise concept operates over 100 franchise locations throughout
the U.S. and internationally.  The company was founded in New
Jersey in 1986 and began franchising in 2001.  Saladworks remains
the leader in the made to order, entree sized salad category with a
health conscious consumer base that lends itself to a fast casual
atmosphere.

Saladworks had a stable 29-year financial history; however the
Company filed for Chapter 11 protection in February 2015 following
years of litigation with a minority shareholder and certain
lenders.  The litigation made it impossible to sell additional
franchises, restructure, find a buyer or execute the Company's
growth plan.  SSG was retained as the Company's investment banker
for the purpose of marketing the business for sale and soliciting
offers.  SSG conducted a comprehensive marketing process which
resulted in a wide range of interest from potential strategic and
financial buyers and ten stalking horse offers were received.
Centre Lane's offer was ultimately deemed to be the highest and
best price.  SSG's experience in running efficient and timely
Chapter 11 sales processes enabled the Company to maximize the
value of the assets while preserving the Company's operations as a
going-concern.  With the litigation and bankruptcy behind it and
the investment and support of Centre Lane, Saladworks is preparing
for growth with such initiatives as new store design, menu
enhancement and an increase in support to its franchisees.

Centre Lane is focused on making equity and debt, control and
non-control, investments in North American middle market companies.
Centre Lane targets companies with revenues between $20 and $500
million that have leading market positions and sustainable
competitive advantages in their respective niches.  Industries
targeted for investment are broad and diverse with no industry
excluded from their consideration.

Other professionals who worked on the transaction include:

    * Adam G. Landis, Kerri K. Mumford and Kimberly A. Brown of
Landis Rath & Cobb LLP, counsel to Saladworks, LLC;

    * Edward A. Phillips and Ryan W. Farley of EisnerAmper LLP,
financial advisors to Saladworks, LLC;

    * Richard M. Beck and Sally E. Veghte of Klehr Harrison Harvey
Branzburg LLP, counsel to the Official Committee of Unsecured
Creditors;

    * D. Stephen Antion, Paige E. Barr, John P. Sieger, Logan J.
Dolph and Scott C. Cutrow of Katten Muchin Rosenman LLP, counsel to
Centre Lane Partners, LLC;

    * Walter Weir, Jr., Jeffrey S. Cianciulli and Kenneth E. Aaron
of Weir & Partners LLP, counsel to creditors, JVSW, LLC and WS
Finance, LLC; and

    * Norman L. Pernick, Stuart Komrower and David W. Giattino of
Cole Schotz P.C., counsel to CEO of Saladworks, LLC.

                 About SSG Capital Advisors, LLC

SSG Capital Advisors is an independent boutique investment bank
that assists middle-market companies and their stakeholders in
completing special situation transactions.  It provides its clients
with comprehensive investment banking services in the areas of
mergers and acquisitions, private placements, financial
restructurings, valuations, litigation and strategic advisory.  SSG
has a proven track record of closing over 250 transactions in North
America and Europe and is one of the leaders in the industry.

SSG Capital Advisors, LLC (Member FINRA, SIPC) is a wholly owned
broker dealer of SSG Holdings, LLC. SSG is a registered trademark
for SSG Capital Advisors, LLC.  SSG provides investment banking,
restructuring advisory, merger, acquisition and divestiture
services, private placement services and valuation opinions.

                      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.

The case is In re: Pennysaver USA LLC, case number 1:15-bk-11196,
in the U.S. Bankruptcy Court for the District of Delaware.


SANTA CRUZ BERRY: US Trustee Appoints One More Committee Member
---------------------------------------------------------------
The U.S. Trustee for Region 17 appointed Quiedan Company to Santa
Cruz Berry Farming Company LLC's official committee of unsecured
creditors.  

The unsecured creditors' committee is now composed of:

     (1) Cedar Point Nursery
         P.O. Box 1447
         Klamath Falls, OR 97601
         Attention: Chuck Paulsen, CFO
         Phone: (541) 880-8826
         Fax: (541) 883-8727
         E-mail: cpaulsen@cedarpointnursery.net

     (2) FMG Farm Contracting Inc.
         P.O. Box 1582
         Gonzales, CA 93926
         Attention: Francisco Mora Gonzalez, President
         Phone: (831) 675-0007
         Fax: (831) 675-0003
         E-mail: fmguno@outlook.com

     (3) Sambrailo Packaging
         P.O. Box 50090
         Watsonville, CA 95077-5090
         Attention: Rachel M. Montoya, Controller
         Phone: (831) 763-7502
         Fax: (831) 763-7541
         E-mail: Rachel@sambrailo.com

     (4) Sturdy Oil Company
         P.O. Box 90
         Salinas, CA 93902-0090
         Attention: Thomas Fanoe, Owner
         Phone: (831) 422-8801
         Fax: (831) 422-4121

     (5) Quiedan Company
         15400 Meridian Road
         Salinas, CA 93907
         Attention: Juan C. Batista, Partner/CFO
         Phone: (831) 663-0770
         Fax: (831) 663-0777
         E-mail: juan@quiedan.com

The four other unsecured creditors were appointed on June 9 by the
U.S. trustee, according to a filing with the U.S. Bankruptcy Court
for the Northern District of California.

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense.  They may investigate the debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.
  
                 About Santa Cruz Berry Farming

Watsonville, California-based Santa Cruz Berry Farming grows
conventional and organic strawberries.  The privately owned company
was founded by and is currently managed by Fritz Koontz.  Seven
Seas Berry Sales, a division of the Tom Lange Co., is the sales
agent for the Company.

Santa Cruz Berry Farming Company, LLC, and Corralitos Farms, LLC,
commenced Chapter 11 bankruptcy cases (Bankr. N.D. Cal. Case Nos.
15-51771 and 15-51772) in San Jose, California, on May 25, 2015.

The Debtors tapped Thomas A. Vogele, Esq., at Thomas Vogele and
Associates, APC, in Costa Mesa, California, as counsel.


SIMPLY FASHION: Has Court OK to Sell Alabama FF&E, Automobiles
--------------------------------------------------------------
Simply Fashion Stores, Ltd., and Adinath Corp., sought and obtained
authority from Judge Laurel M. Isicoff of the U.S. Bankruptcy Court
for the Southern District of Florida, Miami Division, to sell
furniture, fixtures and equipment located at their distribution
center and fixture storage facilities in Alabama via public
auction, as well as 24 automobiles.

The Debtors also sought and obtained authority to pay a national
car carrier to facilitate the retrieval of the Net Automobiles
located oustide Alabama so that they can be sold at the auction.
The Debtors have negotiated a flat fee price for $14,500 for Nation
Trucking LLC to retrieve these vehicles and bring them to the
Alabama Premises for the contemplated auction.

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.



SIMPLY FASHION: Has Court OK to Sell Real Property Leases
---------------------------------------------------------
Simply Fashion Stores, Ltd., and Adinath Corp. sought and obtained
from Judge Laurel M. Isicoff of the U.S. Bankruptcy Court for the
Southern District of Florida, Miami Division, authority to sell
unexpired leases for non-residential real property leases.

According to the Debtors, once their inventory is liquidated, they
will have no need for the leased spaces, and, once the liquidating
agent has designated stores it no longer needs in order to
liquidate the inventory, the rent obligations will fall to the
Debtors.  Delay in implementing the sale of the leases could result
in a diminishment in value of the leases, the Debtors said.

Christopher A. Jarvinen, Esq., at Berger Singerman LLP, in Miami,
Florida, said certain of the Debtors' 195 leases may have value
that can be monetized through a sale process.  The Debtors, Mr.
Jarvinen noted, need to implement an efficient and expedient
process for (i) obtaining value for the Leases and avoiding the
accrual of unnecessary administrative claims and/or (ii) seeking to
reach agreements eliminating or reducing potential rejection damage
claims that will likely be asserted by the landlords.

Adinath Corp. and Simply Fashion Stores, Ltd. are represented by:

          Paul Steven Singerman, Esq.
          Christopher A. Jarvinen, Esq.
          Debi Evans Galler, Esq.
          BERGER SINGERMAN LLP
          1450 Brickell Avenue, Ste. 1900
          Miami, FL 33131
          Telephone: (305)755-9500
          Facsimile: (305)714-4340
          Email: singerman@bergersingerman.com
                 cjarvinen@bergersingerman.com
                 dgaller@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.


SITEL LLC: Moody's Puts 'Caa1' CFR on Review for Upgrade
--------------------------------------------------------
Moody's Investors Service placed Sitel LLC's Caa1 Corporate Family
rating and Caa1-PD Probability of Default Rating under review for
upgrade following the company's announcement of its plan to be
acquired by Groupe Acticall, a customer relationship management
company headquartered in France, for approximately $830 million.

Under the terms of the proposed transaction, a newly formed
indirect subsidiary of Acticall will merge with and into Sitel,
whereupon the merger sub will cease to exist, and Sitel will become
the surviving company and an indirect wholly owned subsidiary of
Acticall.  The transaction, which Acticall expects to be completed
by November 2015, is subject to customary closing conditions,
including shareholder approval and regulatory clearances.  Acticall
plans to repay Sitel's existing indebtedness (approximately $775
million) at the close of transaction.

"The review for upgrade reflects Moody's expectation that Sitel
will benefit from lower debt and leverage, reduced cash interest
expense, and greater financial flexibility while addressing a key
liquidity concern," said Moody's analyst Oleg Markin.

Moody's took these rating actions on Sitel LLC:

Ratings placed under review for upgrade:
   -- Corporate Family Rating at Caa1
   -- Probability of Default Rating at Caa1-PD

Ratings affirmed:
   -- Speculative Grade Liquidity Rating at SGL-4

Ratings not affected:
  -- $61.25 million first lien revolving credit facility due 2016
     at B2 (LGD2)
  -- $227 million first lien term loan due 2017 at B2 (LGD2)
  -- $200 million senior secured notes due 2017 at B2 (LGD2)
  -- $300 million senior unsecured notes due 2018 at Caa2 (LGD5)

RATINGS RATIONALE
According to the merger agreement, Acticall will provide
approximately $400 million of equity financing from its financial
sponsor (Creadev) and will be required to obtain new debt financing
for the remainder of the purchase price.  Moody's estimates that
Sitel's pro forma leverage as of March 31, 2015 will be reduced to
a mid-to-high 3.0 times range from in excess of 6.0 times.
Acticall intends to finance Sitel separately from its other
operations.

Moody's review will focus primarily on Sitel's financing terms and
prospective capitalization, the operational and financial benefits,
opportunities and risks associated with Acticall's ownership of
Sitel, and management's longer term plan for improving earnings to
achieve and sustain positive free cash flow. If Moody's changes its
view that the acquisition has a high probability of closing,
Sitel's existing ratings will face negative pressure in part due to
upcoming maturities including the expiration of its partially drawn
revolver in January 2016.

Moody's took no action on Sitel's existing rated debt instruments
because they are expected to be repaid as part of the transaction,
which would lead to a withdrawal of the instrument ratings.

The SGL-4 Speculative-Grade Liquidity rating continues to reflect
the company's negative projected free cash flow, modest cash
balance, and reliance on a partially drawn revolver that expires in
January 2016.  The SGL-4 is based on Sitel's existing capital
structure and does not incorporate the potential liquidity benefits
from the proposed acquisition by Acticall.



SLIGO PARKWAY: Case Summary & 6 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Sligo Parkway LLC
        415 Firestone Drive
        Silver Spring, MD 20905

Case No.: 15-19754

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: July 13, 2015

Court: United States Bankruptcy Court
       District of Maryland (Greenbelt)

Judge: Hon. Thomas J. Catliota

Debtor's Counsel: Richard S. Basile, Esq.
                  6305 Ivy Lane, Ste. 416
                  Greenbelt, MD 20770
                  Tel: (301) 441-4900
                  Fax: (301) 441-2404
                  Email: rearsb@gmail.com

Total Assets: $896,559

Total Liabilities: $1.1 million

The petition was signed by Edward Woody, managing member.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/mdb15-19754.pdf


SOLERA HOLDINGS: S&P Revises Outlook to Neg. & Affirms 'BB-' CCR
----------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised its rating
outlook on Westlake, Texas-based Solera Holdings Inc. to negative
from stable.  At the same time, S&P affirmed its 'BB-' corporate
credit rating on the company.

S&P also assigned its 'BB-' issue-level and '4' recovery ratings to
the company's proposed $850 million senior unsecured notes, which
consists of an add-on to the existing senior unsecured notes due
2023 and newly assigned senior unsecured notes due 2025.  The '4'
recovery rating indicates S&P's expectation for average recovery
(50%-70%; lower half of the range) of principal in the event of a
payment default. The borrower of the debt is Audatex North America
Inc.

Solera's proposed $850 million senior unsecured note issuance
increases its total debt to $3.1 billion and raises leverage pro
forma for the issuance and recent acquisitions to 5.4x from roughly
5x as of March 31, 2015.  The company made about $900 million of
acquisitions in the fiscal year ended June 30, 2015, as well as
$100 million of share repurchases.  Organic revenue growth has
remained in the mid- to high-single-digit percent area, with EBITDA
margins in the 40% area, and free operating cash flow generation of
$200 million to $225 million in fiscal 2015 and 2014.  Solera's
leverage level is high for the rating, at above 5x, and it may
remain above 5x over the next 12 months, depending on the company's
future leverage tolerance.

"The negative rating outlook on Solera reflects the company's pro
forma leverage increasing to about 5.4x, which is high for our
'BB-' rating," said Standard & Poor's credit analyst Peter Bourdon.
"The rating outlook also reflects the potential for further
acquisitions that may result in Solera's leverage remaining above
5x over the next 12 months."

S&P could lower the rating on Solera if its leverage does not
improve from current levels to 5x or below.  Given its high growth
expectations, a downgrade could occur if the company completes
further debt financed acquisitions or if its EBITDA growth stalls.


S&P could revise the outlook to stable if Solera's business
performance proceeds as S&P expects, with leverage declining to and
sustaining at 5x or below.



SPECTRUM ANALYTICAL: Aug. 10 Fixed as Proofs of Claims Bar Date
---------------------------------------------------------------
The Hon. Henry J. Borroff of the U.S. Bankruptcy Court for the
District of Massachusetts established Aug. 10, 2015, at 4:30 p.m.,
as the deadine for any individual or entity to file proofs of claim
against Spectrum Analytical, Inc., et al.

Proofs of claim must be filed with:

         The Clerk's Office
         U.S. Bankruptcy Court for the District of Massachusetts   
      
         300 State Street
         Springfield, MA 01105

                       About Spectrum Analytical

Spectrum Analytical Inc. provides testing and analytical data for
environmental interests.  Hanibal Technology LLC serves as
Spectrum's exclusive international marketing and sales agent, and
focuses on education, research, and development in environmental
technology.  Spectrum maintains offices in Agawam, Massachusetts,
Tampa, Florida, North Kingstown, Rhode Island, and Syracuse, New
York.

Spectrum Analytical and Hanibal Technology commenced Chapter 11
bankruptcy cases (Bankr. D. Mass. Case Nos. 15-30404 and 15-30405)
on April 30, 2015, to retake management of their business and
assets from the receiver installed by their lender.  Hanibal
Tayeh,
the sole member, signed the bankruptcy petitions.

Spectrum disclosed $8,658,751 in assets and $1,987,714 in
liabilities as of the Chapter 11 filing.  Hanibal estimated less
than $10 million in assets and debt.

Bacon Wilson, P.C., serves as the Debtors' counsel.

Steven Weiss, the Chapter 11 trustee tapped Seth Schalow as
restructuring consultant for the estate.  TechKnowledgey Strategic
Group, serves as his business broker, and Shatz Schwartz and
Fentin. P.C., as his counsel.


SPECTRUM ANALYTICAL: Trustee Can Use Cash Collateral Until July 22
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts entered
a consent second interim order authorizing Steven Weiss, the
Chapter 11 trustee for Spectrum Analytical, Inc., et al., to use of
cash collateral until July 22, 2015, and provide adequate
protection to the prepetition secured party.

A continued hearing on the Trustee's use of cash collateral is
scheduled for July 22, 2015, at 11:30 a.m.

The Court also ordered that the Trustee will have until July 29,
2015, to file a complaint or other pleading against the prepetition
lender raising any claims or defenses.

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

  http://bankrupt.com/misc/Spectrum_122_73_order_CC_June10.pdf

                       About Spectrum Analytical

Spectrum Analytical Inc. provides testing and analytical data for
environmental interests.  Hanibal Technology LLC serves as
Spectrum's exclusive international marketing and sales agent, and
focuses on education, research, and development in environmental
technology.  Spectrum maintains offices in Agawam, Massachusetts,
Tampa, Florida, North Kingstown, Rhode Island, and Syracuse, New
York.

Spectrum Analytical and Hanibal Technology commenced Chapter 11
bankruptcy cases (Bankr. D. Mass. Case Nos. 15-30404 and 15-30405)
on April 30, 2015, to retake management of their business and
assets from the receiver installed by their lender.  Hanibal
Tayeh,
the sole member, signed the bankruptcy petitions.

Spectrum disclosed $8,658,751 in assets and $1,987,714 in
liabilities as of the Chapter 11 filing.  Hanibal estimated less
than $10 million in assets and debt.

Bacon Wilson, P.C., serves as the Debtors' counsel.

Steven Weiss, the Chapter 11 trustee tapped Seth Schalow as
restructuring consultant for the estate.  TechKnowledgey Strategic
Group, serves as his business broker, and Shatz Schwartz and
Fentin. P.C., as his counsel.



SRP PLAZA: Court Okayed Jeffrey S. Susa as Responsible Person
-------------------------------------------------------------
The Hon. August B. Landis of the U.S. Bankruptcy Court for the
District of Nevada approved the designation of Jeffrey S. Susa as
designated responsible person in Chapter 11 case of SRP Plaza LP.
The Debtor told the Court that Mr. Susa is readily familiar with
the Debtor's business, operational, and financial affairs.

                       About SRP Plaza, L.P.

SRP Plaza, L.P., is the owner of a retail shopping center commonly
known as "Mission Paseo Shopping Center" with addresses of 6985
and 7005 West Sahara Avenue and 2555 and 2585 South Rainbow
Boulevard, Las Vegas, Nevada.  SRP Plaza, L.P., a Single Asset Real
Estate, filed a Chapter 11 petition (Bankr. D. Nev. Case No.
15-12127) in Las Vegas, Nevada, on April 16, 2015, to halt a
receiver from taking control of the property.

U.S. Bank National Association, as successor trustee for the
registered holders of Bear Stearns Commercial Mortgage Securities,
Inc., Commercial Pass-Through Certificates, Series 20015-PW37,
declared an event of default under a Deed of Trust dated on
Dec. 7, 2004, and recorded against the real property of SRP on Dec.
9, 2004 as Instrument No. 20041209-0003438.

On March 31, 2014, the Bank filed a complaint for appointment of a
receiver in the Eight Judicial District Court, Clark County,
Nevada, being Case No. A-15-71622 against SRP, and on April 9,
2015, filed an application for the appointment of a receiver
seeking the potential seizure of control of SRP's property, which
actions, if allowed to proceed, would cause significant and
irreparable harm to SPR, its creditors and other
parties-in-interest.

The bankruptcy case is assigned to Judge August B. Landis.  The
Debtor disclosed $10,481,975 in total assets and $7,327,546 in
total liabilities as of the Chapter 11 filing.

SRP Plaza is represented by Zachariah Larson, Esq., Matthew C.
Zirzow, Esq. and Shara L. Larson, Esq. at Larson & Zirzow, LLC in
Las Vegas, Nevada.


SRP PLAZA: Court OKs Stipulation on Use of Cash Until July 31
-------------------------------------------------------------
The Hon. August B. Landis of the U.S. Bankruptcy Court for the
District of Nevada approved a stipulation authorizing SRP Plaza,
L.P., to use cash collateral until July 31, 2015, and provide
adequate protection.

The stipulation was entered between the Debtor and U.S. Bank, N.A.,
solely in its capacity as successor trustee for the registered
holders of Bear Sterns Commercial Mortgage Securities, Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2005PWR7
(secured lender).

As reported in the Troubled Company Reporter on May 14, 2015, the
Debtor explained that the use of cash collateral is necessary since
the Debtor has ongoing obligations including paying
utilities, real estate taxes, insurance, and other maintenance and
operating expenses.  Further, the Debtor needs to pay all items in
the Budget set forth as "Tenant Expenses" which include critical
expenses necessary to the basic maintenance and operation of the
Mission Paseo Shopping Center, and serve to preserve and protect
the Center and its value pending a final hearing.

In December 2004, SRP executed a promissory note in favor of Bear
Stearns Commercial Mortgage Inc., pursuant to which it promised to
pay the Original Lender, or its assignee, the principal sum of $8.7
million, with an interest rate of 5.585% per annum.  The Note is
for a 10-year term.  On Jan. 1, 2015, the entire outstanding
principal balance was allegedly due and payable in full.  From an
after the event of default, the Note provides that interest will
accrue on the outstanding principal balance at a rate equal to
10.585%.

Pursuant to the stipulation, the Debtor's right to use cash
collateral may terminate on, among other things, July 31, 2015; or
the Debtor's failure to make any adequate protection payment to
U.S. Bank.

U.S. Bank serves in its capacity as successor trustee for the
Registered Holders of Bear Stearns Commercial Mortgage Securities,
Inc., Commercial Mortgage Pass-Through Certificates, Series
2005-PWR7.

                       About SRP Plaza, L.P.

SRP Plaza, L.P., is the owner of a retail shopping center commonly
known as "Mission Paseo Shopping Center" with addresses of 6985
and 7005 West Sahara Avenue and 2555 and 2585 South Rainbow
Boulevard, Las Vegas, Nevada.  SRP Plaza, L.P., a Single Asset Real
Estate, filed a Chapter 11 petition (Bankr. D. Nev. Case No.
15-12127) on April 16, 2015, to halt a receiver from taking control
of the property.

U.S. Bank National Association, as successor trustee for the
registered holders of Bear Stearns Commercial Mortgage Securities,
Inc., Commercial Pass-Through Certificates, Series 20015-PW37,
declared an event of default under a Deed of Trust dated on Dec. 7,
2004, and recorded against the real property of SRP on Dec. 9, 2004
as Instrument No. 20041209-0003438.

On March 31, 2014, the Bank filed a complaint for appointment of a
receiver in the Eight Judicial District Court, Clark County,
Nevada, being Case No. A-15-71622 against SRP, and on April 9,
2015, filed an application for the appointment of a receiver
seeking the potential seizure of control of SRP's property, which
actions, if allowed to proceed, would cause significant and
irreparable harm to SPR, its creditors and other
parties-in-interest.

The bankruptcy case is assigned to Judge August B. Landis.  The
Debtor disclosed $10,481,975 in assets and $7,327,546 in
liabilities as of the Chapter 11 filing.

SRP Plaza is represented by Zachariah Larson, Esq., Matthew C.
Zirzow, Esq. and Shara L. Larson, Esq. at Larson & Zirzow, LLC in
Las Vegas, Nevada.



STANDARD REGISTER: Deadline to Remove Suits Extended to Sept. 8
---------------------------------------------------------------
U.S. Bankruptcy Judge Brendan Shannon has given Standard Register
Company until Sept. 8, 2015, to file notices of removal of lawsuits
involving the company and its affiliates.

                     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 and Jefferies LLC as its exclusive
investment banker.


STANDARD REGISTER: Hearing on Suit Against Former Workers Is Today
------------------------------------------------------------------
Asicentral.com reports that the U.S. Bankruptcy Court for the
District of Delaware has issued a restraining order against
Standard Register Company's former sales employees Craig Stockmal
and Lynn Smith, scheduling a hearing for July 15, 2015.

Asicentral.com relates that the Company sued Mr. Stockmal and Ms.
Smith, accusing the two of breach of contract and misappropriation
of trade secrets, among other counts.  David Rich, Esq., the
attorney for Ms. Smith and Mr. Stockmal said that the interim order
prevents his clients from contacting Standard Register customers
during that time, but "the Court had 'significant reservations'
about the plaintiff's claims."

The Company claims in documents filed with the U.S. Bankruptcy
Court for the District of Delaware that Ms. Smith and Mr. Stockmal
used trade secrets and customer contacts to start a similar
company.  According to Asicentral.com, the Company says the
resulting loss of key customers could threaten its $307 million
sale to Taylor Corp., the top bidder in its recent bankruptcy court
auction.  The Company states in court documents that "Stockmal and
Smith are now leading Focused Impressions, having secretly served
as its founders, officers, executives and operatives while still
employees at Standard Register, and using this misappropriated
information to attempt to steal key Standard Register customers."

Ms. Smith and Mr. Stockmal, Asicentral.com relates, contend that
Focused Impressions is solely a software company, and does not
compete with their former employer.

                     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.


THOMAS R. WRIGHT: Bid to Extend Automatic Stay Denied
-----------------------------------------------------
Judge Jeff Bohm of the United States Bankruptcy Court for the
Southern District of Texas, Houston Division, refused to extend the
automatic stay imposed in the Chapter 11 case of Thomas R. Wright
beyond the 30th day of his bankruptcy case, adopting the Expansive
View and concluding that in the case at bar, if the Court denies
the Debtor's request to extend the stay, then there will be no stay
in place on the 30th day as to any property of the Debtor's Chapter
11 estate.

According to Judge Bohm, bankruptcy is a very deadline-oriented
area of the law.  The Bankruptcy Code and the Federal Rules of
Bankruptcy Procedure impose numerous -- and sometimes tight --
deadlines and debtors need to move with alacrity to comply with
these provisions.  When the Debtor, in his first bankruptcy case,
failed to timely file his schedules and statement of financial
affairs and other documents, the Bankruptcy Court dismissed his
case.  And, because of this dismissal, when the Debtor filed his
second bankruptcy petition to initiate the pending Chapter 11 case,
he was saddled with having to affirmatively obtain an extension of
the stay beyond the 30th day of this case by proving, with clear
and convincing evidence, that he filed this pending case in good
faith, Judge Bohm said.  He has been unable to satisfy this very
high burden -- in part because he failed to move swiftly after the
issuance of the May 26 Order to provide PCB with documentation
showing specifically how he spent the rental proceeds that he
collected from January of 2013 through May of 2015.  Thus, the stay
will not be extended beyond the 30th day of this Chapter 11 case,
Judge Bohm ruled.

The bankruptcy case is In re: THOMAS R. WRIGHT, Chapter 11, Debtor,
Case No. 15-33036, (Bankr., S.D. Tex.).

A full-text copy of Judge Bohm's Memorandum Opinion dated July 1,
2015, is available at http://is.gd/3XkXuFfrom Leagle.com.


THORNBURG MORTGAGE: Bid to Withdraw Bankr. Court Reference Denied
-----------------------------------------------------------------
Judge James K. Bredar of the United States District Court for the
District of Maryland denied a motion to withdraw the reference to
the bankruptcy court in the case captioned JOEL I. SHER in his
capacity as Chapter 11 Trustee for TMST, INC., et al., Plaintiff,
JPMORGAN CHASE FUNDING INC., et al., Defendants, ADVERSARY
PROCEEDING CASE NO. 11-00340 (NVA), CIVIL NO. JKB-15-75, (D. Md.).

In 2011, the Trustee commenced the adversarial proceeding asserting
31 claims against JPMorgan Chase Funding Inc., Citigroup Global
Markets Limited, Citigroup Global  Markets Inc., Credit Suisse
Securities (USA) LLC, Credit Suisse International, RBS Securities
Inc., Greenwich Capital Derivatives, Inc., Royal Bank of Scotland
plc, and UBS AG.  The adversarial proceeding was automatically
referred to the bankruptcy court, pursuant to Local Rule 402.  Now
pending before the District Court is the Defendants' motion to
withdraw the reference to the Bankruptcy Court.

Judge Bredar held that the Defendants have not satisfied their
burden to show that withdrawing the reference is appropriate.  In
addition, Judge Bredar says the District Court does not go beyond
what is necessary to decide the instant motion, and it does not
finally decide which claims are core proceedings, but leaves that
initial determination in the skilled hands of the Bankruptcy Judge,
subject to review on appeal.

The bankruptcy case is In re TMST, INC. (f/k/a/THORNBURG MORTGAGE,
INC.), et al., Debtors, Case No.:  09-17787 (NVA) JOINTLY
ADMINISTERED, (Bankr., D. Md.).

A full-text copy of Judge Bredar's Memorandum dated on July 6,
2015, is available at http://is.gd/ypDOOgfrom Leagle.com.

Lori S. Simpson, Esq. -- lsimpson@lsimpsonlaw.com -- of Law Office
of Lori Simpson LLC serves as counsel for Appellant JP Morgan Chase
Funding Inc.

Anastasia L. McCusker, Esq. -- alm@shapirosher.com -- Daniel Joseph
Zeller, Esq. -- djz@shapirosher.com -- and Joel I. Sher, Esq. --
jis@shapirosher.com -- of Shapiro Sher Guinot & Sandler serve as
counsel for Appellee Joel I. Sher, Chapter 11 Trustee.
                            About Thornburg Mortgage

Based in Santa Fe, New Mexico, Thornburg Mortgage Inc. was a
single-family residential mortgage lender focused principally on
prime and super-prime borrowers seeking jumbo and super-jumbo
adjustable rate mortgages.  It originated, acquired, and retained
investments in adjustable and variable rate mortgage assets.  Its
ARM assets comprised of purchased ARM assets and ARM loans,
including traditional ARM assets and hybrid ARM assets.

Thornburg Mortgage and its four affiliates filed for Chapter 11
bankruptcy (Bankr. D. Md. Lead Case No. 09-17787) on May 1, 2009.
Thornburg changed its name to TMST, Inc.

Judge Duncan W. Keir is handling the case.  David E. Rice, Esq., at
Venable LLP, in Baltimore, Maryland, served as counsel to Thornburg
Mortgage.  Orrick, Herrington & Sutcliffe LLP served as special
counsel.  Jim Murray and David Hilty of Houlihan Lokey Howard &
Zukin Capital, Inc., served as investment banker and financial
advisor.  Protiviti Inc. served as financial advisory services.
KPMG LLP served as the tax consultant.  Epiq Systems, Inc., serves
claims and noticing agent.  Thornburg disclosed total assets of
$24.4 billion and total debts of $24.7 billion, as of Jan. 31,
2009.

On Oct. 28, 2009, the Court approved the appointment of Joel I.
Sher as the Chapter 11 Trustee for the Company, TMST Acquisition
Subsidiary, Inc., TMST Home Loans, Inc., and TMST Hedging
Strategies, Inc.  He is represented by his firm, Shapiro Sher
Guinot & Sandler.


TLC HEALTH: Meeting of Creditors Adjourned to Aug. 17
-----------------------------------------------------
U.S. Trustee Joseph Allen adjourned the meeting of creditors of TLC
Health Network to Aug. 17, 2015, at 12:15 p.m.

The meeting will take place at the Office of the U.S. Trustee,
Olympic Towers, in Buffalo, New York.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                     About TLC Health Network

TLC Health Network filed a Chapter 11 petition (Bankr. W.D.N.Y.
Case No. 13-13294) on Dec. 16, 2013.  The petition was signed by
Timothy Cooper as Chairman of the Board.  The Debtor estimated
assets of at least $10 million and debt of at least $1 million.
Jeffrey A. Dove, Esq., at Menter, Rudin & Trivelpiece, P.C., serves
as the Debtor's counsel.  Damon & Morey LLP is the Debtor's special
health care law and corporate counsel.  The Bonadio Group is the
Debtor's accountants.  Howard P. Schultz & Associates, LLC is the
Debtor's appraiser.

The case is assigned to the Hon. Carl L. Bucki.

A three-member panel composed of Cannon Design, Chautauqua
Opportunities, Inc., and Jamestown Rehab Services has been
appointed as the official unsecured creditors committee.  Bond,
Schoeneck & King, PLLC is the counsel to the Committee.  The
Committee has tapped NextPoint LLC as financial advisor.

Gleichenhaus, Marchese & Weishaar, PC is the general counsel for
Linda Scharf, the Patient Care Ombudsman of TLC Health.


UNITED PROSPERITY: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: United Prosperity Group, Inc.
           dba The Produce Company
        60 Airport Blvd.
        South San Francisco, CA 94080

Case No.: 15-30897

Chapter 11 Petition Date: July 13, 2015

Court: United States Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Hon. Hannah L. Blumenstiel

Debtor's Counsel: Todd M. Arnold, Esq.
                  LEVENE, NEALE, BENDER, YOO & BRILL LLP
                  10250 Constellation Blvd. #1700
                  Los Angeles, CA 90067
                  Tel: (310) 229-1234
                  Email: TMA@lnbrb.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Soo Ming Yee, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/canb15-30897.pdf


UNIVERSAL COOPERATIVES: Seeks Approval of Plan Settlement with PBGC
-------------------------------------------------------------------
Universal Cooperatives, Inc., and its affiliated debtors, and the
Official Committee of Unsecured Creditors ask the U.S. Bankruptcy
Court for the District of Delaware to approve a plan settlement
agreement with Pension Benefit Guaranty Corporation.

The Plan Settlement Agreement includes, among others, the following
salient terms:

   (a) On account of the PBGC Liens and the Pension Claims for
unpaid minimum funding contributions to the Pension Plan, PBGC is
allowed the PBGC Allowed Administrative Claim in the amount of
$1,084,101, which claim will be paid in full on or prior to the
Effective Date.

   (b) PBGC is allowed the Allowed PBGC GUC Claims in the amount of
$14,277,666, which Claims are Allowed against each Debtor.

   (c) PBGC's $14,277,666 Allowed PBGC GUC Claims will recover pari
passu the recovery percentage for holders of other Allowed non-PBGC
General Unsecured Claims against Universal and Bridon, and holders
of Allowed non-PBGC General Unsecured Claims against Heritage and
UCPA will receive a recovery of up to and including 3% prior to the
PBGC's receiving any recovery from the estates of Heritage and
UCPA; and upon the receipt of 3% by holders of Allowed non-PBGC
General Unsecured Claims against Heritage and UCPA, all holders of
Allowed General Unsecured Claims against Heritage and UCPA
(including PBGC on account of its Allowed PBGC GUC Claims) will
share on a pro rata basis in any additional recoveries.

   (d) PBGC will vote each of its Allowed PBGC GUC Claims asserted
against each Debtor in favor of confirmation of the Plan.

The Plan Settlement also provides for cross-debtor subsidies
contributed from the Estates of Universal and Bridon, respectively,
in the aggregate amount of $515,000 ($430,000 contributed from the
Estate of Bridon, and $85,000 from the Estate of Universal) to the
Estates of Heritage and UCPA.  The Settlement Subsidy is in full
and complete resolution of issues related to the allocation of
Assets among the Estates and the nature and amount of the Pension
Claims and PBGC Liens, and will enhance the pro rata distributions
to holders of Allowed General Unsecured Claims against Heritage and
UCPA.

The Debtors and the Creditors' Committee estimate that $245,000 of
the Settlement Subsidy will be allocated to Heritage and $270,000
to UCPA, though the precise allocation will be determined based on
the sale of any remaining assets owned by UCPA and certain
administrative liabilities of UCPA.  

The Debtors' counsel, Andrew L. Magaziner, Esq., at Young Conaway
Stargatt & Taylor, LLP, in Wilmington, Delaware, tells the Court
that after extensive, good-faith and arm's-length negotiations, the
Parties ultimately reached a global compromise that (a) reduces the
amount of distributions to be made on account of the PBGC Claims,
subject to PBGC's ability to recover certain additional amounts, if
any, from the Debtors' Foreign Non-Debtor Affiliates, (b) secures
support for the Plan from PBGC and the Creditors' Committee; and
(c) provides for the Settlement Subsidy to increase recoveries to
creditors of the Estates of Heritage and UCPA.

Mr. Magaziner adds that without the Settlement Subsidy, creditors
of the Estates of Heritage and UCPA would stand to receive very
minimal distributions, if any.  Mr. Magaziner says the Plan
Settlement Agreement materially and meaningfully increases the
amount of funds available for distribution to holders of non-PBGC
General Unsecured Claims, as the distributable assets made
available by the reduction in PBGC's distributions will be
allocated to such non-PBGC creditors.  The Debtors and the
Creditors' Committee estimate that the anticipated distributions
provided based on the Plan Settlement Agreement will generally
improve anticipated recoveries to creditors holding Allowed General
Unsecured Claims against Bridon, Heritage, and UCPA.

The Joint Motion is scheduled for hearing on July 22, 2015 at 10:30
a.m.  The deadline for filing of objections to the Joint Motion is
set on July 15.

The Debtors are represented by:

          Robert S. Brady, Esq.
          Andrew L. Magaziner, Esq.
          Travis G. Buchanan, Esq.
          YOUNG CONAWAY STARGATT & TAYLOR, LLP
          Rodney Square
          1000 North King Street
          Wilmington, DE 19899-0391
          Telephone: (302)571-6600
          Facsimile: (302)571-1253
          Email: rbrady@ycst.com
                 amagaziner@ycst.com
                 tbuchanan@ysct.com

             -- and --

          Mark L. Prager, Esq.
          Michael J. Small, Esq.
          Emil P. Khatchatourian, Esq.
          FOLEY & LARDNER LLP
          321 North Clark Street, Suite 2800
          Chicago, IL 60654
          Telephone: (312)832-4500
          Facsimile: (312)832-4700

The Creditors' Committee is represented by:

          Jamie L. Edmonson, Esq.
          Daniel A. O'Brien, Esq.
          VENABLE LLP
          1201 North Market Street, Suite 1400
          Wilmington, DE 19899
          Telephone: (302)298-3535
          Facsimile: (302)298-3550
          Email: jledmonson@Venable.com
                  dao'brien@Venable.com

             -- and --

          Sharon Levine, Esq.
          Philip J. Gross, Esq.
          Anthony De Leo, Esq.
          LOWENSTEIN SANDLER LLP
          65 Livingston Avenue
          Roseland, NJ 07068
          Email: slevine@lowenstein.com
                 pgross@lowenstein.com
                 adeleo@lowenstein.com

             -- and --

          Bruce S. Nathan, Esq.
          LOWENSTEIN SANDLER LLP
          1251 Avenue of the Americas
          New York, NY 10020
          Telephone: (212)262-6700
          Facsimile: (212)262-7402
          Email: bnathan@lowenstein.com

                  About Universal Cooperatives

As an inter-regional farm supply cooperative, Universal

Cooperatives, Inc. consolidates the purchasing power of its members
to procure, and/or manufacture, and distribute high quality
products at competitive prices. Universal has 14 voting members and
over 50 associate members.



Eagan, Minnesota-based Universal Cooperatives and its affiliates

sought Chapter 11 protection (Bankr. D. Del. Lead Case
No.
14-11187) on May 11, 2014.  The debtor-affiliates are
Heritage
 Trading Company, LLC; Bridon Cordage LLC; Universal
Crop Protection Alliance, LLC; Agrilon International, LLC; and
zavalon, Inc.  UCI do Brasil, a majority-owned subsidiary located
in Brazil, is not a debtor in the Chapter 11 cases.



The cases are assigned to Judge Mary F. Walrath.



Universal Cooperatives disclosed $12.09 million in assets and $29.3
million in liabilities as of the Chapter 11 filing.



The Debtors have tapped Travis G. Buchanan, Esq., Robert S.
Brady,
 Esq., Andrew L. Magaziner, Esq., and Travis G. Buchanan,
Esq., at 
Young Conaway Stargatt & Taylor, LLP; and Mark L.
Prager, Esq., 
Michael J. Small, Esq., and Emil P.
Khatchatourian, Esq., at Foley
 & Lardner LLP, as counsel; The
Keystone Group, as financial advisor and Prime Clerk as notice and
claims agent.



Bank of America, N.A., as agent for the DIP Lenders, is represented
by Daniel J. McGuire, Edward Kosmowski, Esq., and Gregory M.
Gartland, Esq., at Winston & Strawn, LLP.



The United States Trustee for Region 3 appointed seven members
to
the Official Committee of Unsecured Creditors, which is
represented by Sharon Levine, Esq., Bruce S. Nathan, Esq., and
Timothy R. Wheeler, Esq., at Lowenstein Sandler LLP, in Roseland,
New Jersey; and Jamie L. Edmonson, Esq., and Daniel A. O'Brien,
Esq., at
 Venable LLP, in Wilmington, Delaware.


UNIVERSAL HEALTH: Bids for Withdrawal of Reference Denied
---------------------------------------------------------
Judge Charlene Edwards Honeywell of the United State District Court
for the Middle District of Florida, Tampa Division, denied a motion
for immediate withdrawal of reference to the bankruptcy court of
the adversary proceeding captioned SONEET KAPILA, as Chapter 11
Trustee of UNIVERSAL HEALTH CARE GROUP, INC., Plaintiff, v. WARBERG
PINCUS, LLC; WARBURG PINCUS PRIVATE EQUITY FUND IX, L.P.; ALLEN
WISE; and ALOK SANGHVI, Defendants, Case No. 8:15-CV-636-T-36,
(M.D. Fla.).

The Adversary Proceeding was initiated by the Chapter 11 Trustee
seeking to avoid a stock redemption transaction and an assessment
of damages related to that transaction.  The Plaintiff's claims are
predicated on theories of fraudulent transfer, unfair transaction,
and breach of fiduciary duty.  The Plaintiff demands trial by jury
as to all issues so triable.  The Defendants seek to withdraw, in
its entirety and for all purposes, the reference of the Adversary
Proceeding.  The Plaintiff, on the other hand, seeks to withdraw
the reference only for the limited purpose of conducting a jury
trial, and seeks to maintain the Adversary Proceeding in the
Bankruptcy Court for all pretrial matters.

Judge Honeywell denied the Defendants' Motion for Immediate
Withdrawal of the Reference of this Adversary Proceeding in its
Entirety, without prejudice, and denied the Plaintiff's Limited
Motion to Withdraw the Reference, without prejudice, to either
party reasserting their requests for withdrawal of the reference at
the conclusion of all pretrial matters.

Judge Honeywell ruled that the significant benefits of permitting
the Bankruptcy Court to preside over all pretrial matters outweigh
any potential harm that may arise should the District Court
ultimately be called upon to preside over a jury trial on the same
action.  Accordingly, the District Court declined to withdraw the
reference for pretrial purposes on the basis that the parties have
demanded a jury trial before the district court.  To the extent the
parties seek withdrawal of the reference for the limited purpose of
conducting a jury trial, the District Court declined to rule on
that issue today.  Rather, the Court will permit the parties to
reassert their positions upon the conclusion of all pretrial
matters in the Bankruptcy Court.

The bankruptcy case is IN RE: UNIVERSAL HEALTH CARE GROUP, INC.
AMERICAN MANAGED CARE, LLC, Debtors, Case No. 13-01520 (Bankr. M.D.
Fla.).

A full-text copy of Judge Honeywell's Order dated July 2, 2015, is
available at http://is.gd/yYeSaYfrom Leagle.com.

Charles Franklin Ketchey, Jr., Esq. -- cketchey@trenam.com -- Lori
Virginia Vaughan, Esq. -- lvaughan@trenam.com -- and Rhys P.
Leonard, Esq. -- rleonard@trenam.com -- of Trenam Kemker serve as
counsel for Plaintiff Soneet Kapila.

Paul Andrew McDermott, Esq. -- paul.mcdermott@hklaw.com -- and
William Keith Fendrick, Esq. -- keith.fendrick@hklaw.com -- of
Holland & Knight, LLP serve as counsel for Defendant Warburg
Pincus, LLC.

                   About Universal Health Care Group

Universal Health Care Group, Inc., owns an insurance company and
three health-maintenance organizations that provide managed care
services for government sponsored health care programs, focusing on
Medicare and Medicaid.

Universal Health was founded in 2002 by Dr. A.K. Desai and grew its
operations of offering Medicare plans to more than 37,000 ¨members
to over 20 states.

Universal Health filed a Chapter 11 bankruptcy protection (Bankr.
M.D. Fla. Case No. 13-01520) on Feb. 6, 2013, after Florida
regulators moved to put two of the company's subsidiaries in a
receivership. Universal Health Care estimated assets of up to¨$100
million and debt of less than $50 million in court filings in a
Tampa, Florida.  Harley E. Riedel, Esq., at Stichter Riedel Blain &
Prosser serves as counsel to the Debtor

Soneet R. Kapila has been appointed the Chapter 11 Trustee in the
¨Debtor's case. He is represented by Roberta A. Colton, Esq., at
Trenam, Kemker, Scharf, Barkin, Frye, O'Neill & Mullis, PA.
Dennis¨S. Jennis, Esq., and Jennis & Bowen, P.L., serve as special
conflicts counsel and E-Hounds, Inc., serves as a forensic imaging
¨consultant to the Chapter 11 trustee.


UNIVERSITY GENERAL: Has Final Okay to Obtain Financing From MidCap
------------------------------------------------------------------
The Hon. Letitia Z. Paul of the U.S. Bankruptcy Court for the
Southern District of Texas entered on July 13, 2015, a final order
authorizing up to $16 million in secured post-petition financing
for University General Health System, Inc., et al., from MidCap
Funding IV Trust, on a super priority basis, and granting relief
from the automatic stay.

The Court entered on July 6, 2015, an order continuing the final
hearing to July 13, 2015, at 1:00 p.m. on the Debtors' financing
and stay motions.  The Court previously reset the final hearing for
July 6, 2015, as agreed between the Official Committee of Unsecured
Creditors, the Debtors, and MidCap to allow the parties to continue
negotiations towards a potential resolution of the Committee's
concerns.  The Committee, after an interim order allowing the
financing was entered on March 4, 2015, filed an objection to the
financing on May 5, 2015.

The final hearing had been set for April 13, 2015, April 27, 2015,
May 11, 2015, May 18, 2015, and June 22, 2015.  

The Debtors say they do not have sufficient available sources of
working capital and financing to carry on the operation of their
businesses without the post-petition financing.  Given the Debtors'
current financial condition and capital structure, the Debtors are
unable to sustain their operations with the use of cash collateral
and are unable to obtain unsecured credit allowable under the U.S.
Bankruptcy Code as an administrative expense.

Prior to the bankruptcy filing date, certain of the Debtors entered
into that certain credit and security agreement, as amended,
modified, or supplemented from time to time.  The Prepetition
Credit Agreement provided for: (i) secured revolving credit
facility of up to an aggregate principal amount of $22.50 million,
and (ii) a secured term loan in the principal amount of up to $4
million.  The Prepetition Obligations are guaranteed by debtor
University General Health System, Inc.  

The Debtors admit that as of Feb. 27, 2015, they were indebted to
MidCap on the Prepetition Obligations in an amount in excess of
$15,362,630.52, comprised of the unpaid principal amount of
$14,846,699.24, plus accrued interest in the amount of $66,878.65,
plus accrued fees and costs in the amount of $449,052.63, plus
other accrued and accruing interest, cost, fees, and other amounts
chargeable under the prepetition loan documents.

The Debtors stipulate that as security for repayment of the
Prepetition Obligations, MidCap holds valid, perfected, and
enforceable liens and security interest in all of the collateral.

A copy of the court order, together with an amendment to the credit
and security agreement, is available for free at:

                    http://is.gd/VfmlCQ

                  About University General

University General Health System, Inc., with headquarters in
Houston, Texas, is a multi-specialty health care provider that
delivers concierge physician- and patient-oriented services. UGHS
and its consolidated subsidiaries operate, amongst others, a
general acute care hospital, ambulatory surgical centers,
hyperbaric wound care centers, diagnostic imaging centers, physical
therapy centers, and senior living centers.

UGHS owns the University General Hospital, a 72-bed, general acute
care hospital in the heart of the Texas Medical Center in Houston,
Texas.

UGHS and its affiliated entities sought Chapter 11 protection
(Bankr. S.D. Tex. Lead Case No. 15-31086) in Houston, Texas, on
Feb. 27, 2015. The case is assigned to Judge Letitia Z. Paul.

The Debtors have tapped John F Higgins, IV, Esq., Aaron James
Power, Esq., and Joshua W. Wolfshohl, Esq., at Porter Hedges LLP,
in Houston, Texas, as counsel. Upshot Services, LLC, is the claims
and noticing agent.

U.S. Trustee Judy A. Robbins formed a nine-member panel of
unsecured creditors in the Chapter 11 cases of the Debtors.


XINERGY CORP: Jon Nix's Limited Objections to DIP Loan Denied
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Virginia,
overruled Jon Nix's limited objections to Xinergy Ltd.'s motion
for:

   i) authorization to obtain postpetition financing, and utilize
cash collateral, and grant adequate protection to prepetition
secured lenders;

  ii) entry of final order authorizing (i) payment of certain
prepetition claims of critical vendors, (ii) payment of 503(b)(9)
claims to certain critical vendors and (iii) financial institutions
to honor and process related checks and transfers.

Mr. Nix, the holder of approximately 18.5% of the issued and
outstanding voting shares of Xinergy Ltd., filed a limited
objection to the Debtor's motion to (i) incur financing, (ii) to
pay certain critical vendors; and (iii) employ professionals in the
cases.

Mr. Nix and certain other shareholders were compelled by the
board's refusal to act to pursue appropriate relief in the Superior
Court of Justice, Ontario to compel a shareholder
meeting to consider a vote on the replacement of certain of
Xinergy's board members.

In light of the shareholder meeting and ongoing dispute over
Xinergy's board's composition, Mr. Nix filed a limited objection to
address certain discrete issues in the chapter 11 cases and to
obtain additional information regarding certain of the relief
requested by the Debtors.

Wells Fargo Bank, National Association, as collateral trustee (the
Informal Prepetition Noteholder Committee) and the lenders under
the Debtors' postpetition senior secured term loan credit facility,
submitted to the Court a verified statement.  A copy of the
verified statement is available for free at:

    http://bankrupt.com/misc/XINERGYCORP_176_2019statement.pdf

The Informal Prepetition Noteholder Committee is represented by:

         Brian S. Hermann, Esq.
         Sarah Harnett, Esq.
         PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP
         1285 Avenue of the Americas
         New York, NY 10019-6064
         Te: (212) 373-3000
         E-mails: bhermann@paulweiss.com
                  sharnett@paulweiss.com

         Peter J. Barrett
         KUTAK ROCK LLP
         Jeremy S. Williams, Esq.
         1111 East Main Street, Suite 800
         Richmond, VA 23219-3500
         Tel: (804) 644-1700
         E-mail: peter.barrett@kutakrock.com
                 jeremy.williams@kutakrock.com

                        About Xinergy Ltd.

Xinergy is a U.S. producer of metallurgical and thermal coal with
mineral reserves, mining operations and coal properties located in
the Central Appalachian ("CAPP") regions of West Virginia and
Virginia.  Xinergy's operations principally include two active
mining complexes known as South Fork and Raven Crest located in
Greenbrier and Boone Counties, West Virginia.  Xinergy also leases
or owns the mineral rights to properties located in Fayette,
Nicholas and Greenbrier Counties, West Virginia and Wise County,
Virginia. Collectively, Xinergy leases or owns mineral rights to
approximately 72,000 acres with proven and probable coal reserves
of approximately 77 million tons and additional estimated reserves
of 40 million tons.

Xinergy Ltd. and 25 subsidiaries commenced Chapter 11 bankruptcy
cases (Bankr. W.D. Va. Lead Case No. 15-70444) on April 6, 2015.
The cases have been assigned to Judge Paul M. Black.  The cases are
being jointly administered for procedural purposes.

Xinergy Ltd. disclosed $36,968,445 in assets and $215,000,000 in
liabilities as of the Chapter 11 filing.

The Debtors tapped Hunton & Williams LLP as attorneys; Global
Hunter Securities, as financial advisor, and American Legal Claims
Services, LLC as claims, noticing and balloting agent.

The U.S. Trustee appointed a two member official committee of
unsecured creditors.  The Committee tapped to retain McGuireWoods
LLP as lead counsel, and Whiteford, Taylor & Preston, LLP as its
local counsel.


XINERGY CORP: McGuireWoods Okayed as Lead Counsel to the Committee
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Virginia
authorized the Official Committee of Unsecured Creditors in the
Chapter 11 cases of Xinergy Ltd., et al., to retain McGuireWoods
LLP as its lead counsel.

On May 11, 2015, the Committee also selected the law firm of
Whiteford Taylor Preston LLP as its local/conflicts counsel.

Michael J. Roeschenthaler, Esq., a partner in the law firm of
McGuireWoods with an office address of McGuireWoods LLP, 625
Liberty Avenue, 23rd Floor, Pittsburgh, Pennsylvania, told the
Court that McGuireWoods' current customary hourly rates for the
individuals expected to participate in the cases are between $450
to $745 for attorneys and $255 for paralegals.

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

                        About Xinergy Ltd.

Xinergy is a U.S. producer of metallurgical and thermal coal with
mineral reserves, mining operations and coal properties located in
the Central Appalachian ("CAPP") regions of West Virginia and
Virginia.  Xinergy's operations principally include two active
mining complexes known as South Fork and Raven Crest located in
Greenbrier and Boone Counties, West Virginia.  Xinergy also leases
or owns the mineral rights to properties located in Fayette,
Nicholas and Greenbrier Counties, West Virginia and Wise County,
Virginia. Collectively, Xinergy leases or owns mineral rights to
approximately 72,000 acres with proven and probable coal reserves
of approximately 77 million tons and additional estimated reserves
of 40 million tons.

Xinergy Ltd. and 25 subsidiaries commenced Chapter 11 bankruptcy
cases (Bankr. W.D. Va. Lead Case No. 15-70444) on April 6, 2015.
The cases have been assigned to Judge Paul M. Black.  The cases are
being jointly administered for procedural purposes.

Xinergy Ltd. disclosed $36,968,445 in assets and $215,000,000 in
liabilities as of the Chapter 11 filing.

The Debtors tapped Hunton & Williams LLP as attorneys; Global
Hunter Securities, as financial advisor, and American Legal Claims
Services, LLC as claims, noticing and balloting agent.

The U.S. Trustee appointed a two member official committee of
unsecured creditors.  The Committee tapped to retain McGuireWoods
LLP as lead counsel, and Whiteford, Taylor & Preston, LLP as its
local counsel.


YELLOWSTONE MOUNTAIN: Jailed Founder Files New Release Request
--------------------------------------------------------------
The Associated Press reported that an attorney for jailed
Yellowstone Club founder Tim Blixseth asked a federal appeals court
to release his client following two prior requests that the court
turned down.

As previously reported by The Troubled Company Reporter, in May,
the U.S. Supreme Court denied the petition to be freed from jail
filed by Mr. Blixseth.

The former billionaire property developer has been held in the
Cascade County Detention Center in Great Falls, Mont., since April
20 after a district court judge found him in contempt for failing
to account for millions of dollars he owes creditors.

                     About Yellowstone Mountain

Located near Big Sky, Montana, Yellowstone Mountain Club LLC --
http://www.theyellowstoneclub.com/-- is a private golf and ski    


community with more than 350 members, including Bill Gates and Dan
Quayle.  The Company was founded in 1999.

Yellowstone Club and its affiliates filed for Chapter 11
bankruptcy (Bankr. D. Montana, Case No. 08-61570) on Nov. 10,
2008.  The Company's owner affiliate, Edra D. Blixseth, filed
a separate Chapter 11 petition on March 27, 2009 (Case No.
09-60452).

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & Green
PLLC represented Yellowstone.  The Debtors hired FTI Consulting
Inc. and Ronald Greenspan as CRO.  The official committee of
unsecured creditors were represented by Parsons, Behle and
Latimer; and James H. Cossitt, Esq., as counsel.  Credit Suisse,
the prepetition first lien lender, was represented by Skadden,
Arps, Slate, Meagher & Flom.

In June 2009, the Bankruptcy Court entered an order confirming
Yellowstone's Chapter 11 Plan.  Pursuant to the Plan, CrossHarbor
Capital Partners LLC acquired equity ownership in the reorganized
Club for $115 million.

Marc S. Kirschner, Esq., was appointed the Trustee of the
Yellowstone Club Liquidating Trust created under the Plan.


[*] Financial Software, Signature Bank Offer Trustee Services
-------------------------------------------------------------
Financial Software Solutions, LLC, the technology leader providing
cloud-based and mobile case management solutions to bankruptcy
trustees, and Signature Bank, a New York-based full-service
commercial bank, on July 13 announced their agreement to jointly
offer depository and technology services to trustees and other
fiduciaries administering bankruptcy and receivership cases.

Financial Software Solutions is the provider of the
TrusteSolutions(TM) and BlueStylus(R) SAAS product lines, which are
known industry wide for their robust, high-performing and secure
platforms.  FSS's commitment to product innovation and superior
service has resulted in steady year-over-year growth for the last
10 years.

Signature Bank's Bankruptcy Services group focuses on providing
comprehensive, customized cash management and investment solutions
that support all stages of Chapter 7 and Chapter 11 bankruptcy
proceedings.  Over the past few years, the Bank has expanded its
Bankruptcy Services capabilities by attracting industry-leading
professionals and entering into various related business lines.
This has enabled Signature Bank to emerge as one of the leaders in
this specialized arena.

"We are pleased to have Signature Bank as our newest partner bank.
They share the same commitment to service and quality product as we
do.  This partnership is an excellent opportunity for both
organizations to further expand our reach into these markets," says
Kristi Singal, president and CEO of FSS.

"We look forward to this alliance with Financial Software Solutions
as we further enhance our bankruptcy services offering.  This
agreement allows us to better serve bankruptcy trustees and
professionals, an area in which the Bank has expanded its efforts
over the past several years when we made a commitment to
specifically cater to this fiduciary services market niche.  We
have added talented bankers to our private client banking network
whose vast experience quickly positioned Signature Bank as one of
the leaders in the provision of bankruptcy services and solutions.
Our alignment with Financial Software Solutions helps round out the
services we bring to our clients," explained Joseph J. DePaolo,
President and Chief Executive Officer.

                      About Signature Bank

Signature Bank -- http://www.signatureny.com-- member FDIC, is a
New York-based full-service commercial bank with 29 private client
offices throughout the New York metropolitan area, including those
in Manhattan, Brooklyn, Westchester, Long Island, Queens, the
Bronx, Staten Island and Connecticut.  The Bank's growing network
of private client banking teams serves the needs of privately owned
businesses, their owners and senior managers.

Signature Bank offers a wide variety of business and personal
banking products and services.  Its specialty finance subsidiary,
Signature Financial, LLC, provides equipment finance and leasing.
Signature Securities Group Corporation, a wholly owned Bank
subsidiary, is a licensed broker-dealer, investment adviser and
member FINRA/SIPC, offering investment, brokerage, asset management
and insurance products and services.

Since commencing operations in May 2001, the Bank has grown to
$28.6 billion in assets, $24.0 billion in deposits, $2.6 billion in
equity capital and $3.6 billion in other assets under management as
of March 31, 2015.  Signature Bank's Tier 1 and risk-based capital
ratios are significantly above the levels required to be considered
well capitalized.

Signature Bank was named the Best Bank in America by Forbes for
2015 and the only large cap bank to appear on Forbes' list of
America's 50 Most Trustworthy Financial Companies.  Signature Bank
also was voted Best Business Bank by the New York Law Journal in
the publication's fifth annual reader survey; named the nation's
fifth top-performing bank by ABA Banking Journal; and ranked
seventh on Bank Director magazine's 2014 Bank Performance Scorecard
for banks with assets between $5 and $50 billion.

                About TrusteSolutions(TM) and FSS

TrusteSolutions(TM) is a division of Financial Software Solutions,
LLC, a Houston-based software company that provides cloud-based
enterprise software to professionals across the United States.  FSS
also offers a suite of Web-based apps for legal professionals
through its BlueStylus(R) division, which includes time and billing
tools and document-sharing solutions.  FSS is dedicated to
providing enterprise-level software that is easy to learn and easy
to use, helping businesses do more with fewer resources for
enhanced productivity.


[*] Wilber Ross's IAC Names Robert Miller as CEO
------------------------------------------------
Jeff Bennett and Chelsey Dulaney, writing for The Wall Street
Journal, reported that turnaround expert Robert "Steve" Miller, who
last decade successfully restructured one of the largest U.S.
auto-parts makers, will take over the global automotive interiors
company of billionaire investor Wilbur Ross.

According to the report, Mr. Miller, 73 years old, is charged with
mapping a new strategy for International Automotive Components
Group that could include moving forward with a long-delayed initial
public offering, acquiring additional businesses or finding a
partner.

IAC is a global auto-industry supplier that last year generated
almost $6 billion in annual revenue selling instrument panels,
cockpits, doors and trim, headliners and other exterior components,
the Journal said.


                            *********

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 ***