TCR_Public/150717.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, July 17, 2015, Vol. 19, No. 198

                            Headlines

1521 WEST SHERWIN: Voluntary Chapter 11 Case Summary
APOLLO MEDICAL: Posts $1.8 Million Net Loss for Fiscal 2015
BLUE RACER: S&P Retains 'B' Rating on $550 Million Add-On Notes
BOART LONGYEAR: S&P Raises CCR to 'CCC+', Outlook Negative
BPZ RESOURCES: Court Approves Sale Deals With Zedd & Zorritos

BPZ RESOURCES: To File Chapter 11 Liquidation Plan by Aug. 6
BRAND ENERGY: Bank Debt Trades at 3% Off
CAESARS ENTERTAINMENT: 2017 Bank Debt Trades at 13% Off
CAL DIVE: Judge Extends Deadline to Remove Suits to Sept. 29
CALIFORNIA RESOURCES: S&P Affirms 'BB+' CCR & Alters Outlook to Neg

CENTRAL OKLAHOMA: Plan Solicitation Period Extended to Sept. 14
CHARLES ROLLINS: Summary Judgment Order in JV Suit Reversed
CLUB AT SHENANDOAH: Aug. 8 Hearing on Bid to Dismiss Ch. 11 Case
CORE ENTERTAINMENT: Moody's Cuts Prob. of Default Rating to 'D-PD'
DORAL FINANCIAL: FDIC Can Repudiate Servicing Agreement with Bank

EAST CAMERON: Goldking Capital's Bid to Withdraw Reference Denied
EFT HOLDINGS: Posts $5.3 Million Net Loss for Fiscal 2015
ELBIT IMAGING: BCBS Plans Provide Benefits for ExAblate Procedure
ELEPHANT TALK: Enters into Amended $6.5 Million Credit Agreement
FORTESCUE METALS: Bank Debt Trades at 17% Off

FRAC TECH: Bank Debt Trades at 25% Off
FREESEAS INC: Regains Compliance with NASDAQ Bid Price Rule
GENESEE & WYOMING: S&P Takes Off 'BB' CCR Watch Negative
GETTY IMAGES: Bank Debt Trades at 26% Off
GO SOLAR: Case Summary & 20 Largest Unsecured Creditors

GOLDEN COUNTY: $33,000 in Claims Transferred From July 5 to 9
GRUDEN ACQUISITION: Moody's Assigns 'B2' Corporate Family Rating
GYMBOREE CORP: Bank Debt Trades at 29% Off
HEALTH DIAGNOSTIC: Judge Sets Sept. 10 as Auction Date
HII TECHNOLOGIES: In Default Under Senior Loan Facility Agreements

HOSTESS HOLDCO: S&P Affirms 'B' CCR & Rates Secured Loans 'B+'
IMRIS INC: Court OKs Bidding Procedures; Bid Deadline Is Today
INT'L MANUFACTURING: Can Use Cash Collateral in Rabobank Account
INTEGRATED FREIGHT: Files Deficient Form 10-K with SEC
J. CREW: Debt Trades at 14% Off

JETBLUE AIRWAYS: Moody's Hikes Corporate Family Rating to 'Ba3'
JW RESOURCES: Seeks to Employ David Stetson as Senior Consultant
KIRKLAND BROS: Voluntary Chapter 11 Case Summary
LEARFIELD COMMUNICATIONS: S&P Retains 'B+' Rating on 1st Lien Loan
LIFE PARTNERS: Trustee Hires Consultant; CEO Objects

LIFE PARTNERS: Trustee Taps Phillips Murrah for Life Settlements
LIFE PARTNERS: Trustee Taps Smith Jackson as Special Tax Consultant
LIFE PARTNERS: Trustee Wins Nod for Thompson & Knight as Counsel
LOCAL CORPORATION: Lender Seeks Additional Adequate Protection
LOCATION BASED: Reports $813,700 Net Loss for Third Quarter

LOUDOUN HEIGHTS: Court Issues Final Decree
LPATH INC: Receives Non-Compliance Notice From NASDAQ
MA LERIN HILLS: Secured Creditor Objects to DIP Financing
MEG ENERGY: Bank Debt Trades at 3% Off
METALICO INC: July 24 is Special Meeting Record Date

MILAGRO OIL: Case Summary & 30 Largest Unsecured Creditors
MOLYCORP INC: Insists Facility Won't Completely Shut Down
MUD KING PRODUCTS: Final Decree Issued, Ch. 11 Case Closed
MURRAY HOLDINGS: Chapter 15 Case Closed
NAARTJIE CUSTOM: Seeks Aug. 10 Extension of Plan Filing Date

NNN 3500: Seeks Entry of Final Decree
NOGALES HOTEL: Case Summary & 6 Largest Unsecured Creditors
NORTH DALLAS LAWN: Case Summary & 20 Largest Unsecured Creditors
OCEAN RIG: Bank Debt Trades at 16% Off
ONE SOURCE: Authorized to Grant Adequate Protection to Mack

PACIFIC DRILLING: Bank Debt Trades at 20% Off
PATRIOT COAL: $1,960 in Claims Switch Hands in June 2015
PEABODY ENERGY: S&P Lowers CCR to 'B', Outlook Stable
PETTERS COMPANY: BMO Harris Settles Ponzi Scheme Suit for $16M
PHARMACYTE BIOTECH: Needs More Time to File Fiscal 2015 Form 10-K

PRINCE INTERNATIONAL: Moody's Affirms 'B3' Corporate Family Rating
PRONERVE HOLDINGS: Taps Katz & Luxenburg as Tax Services Provider
PSL-NORTH AMERICA: Seeks Oct. 12 Extension of Plan Filing Date
QUALITY DISTRIBUTION: S&P Lowers CCR to 'B-', Off CreditWatch Neg
QUICKSILVER RESOURCES: Amends Schedule of Unexpired Leases

RADIOSHACK CORP: Seeks to Use Cash Collateral Up to Aug. 29
RECOVERY CENTERS: Balks at Committee Bid to Hire Accountant
RECOVERY CENTERS: Committee Proposes Chad Waldbaum as Broker
RECOVERY CENTERS: Taps Fairchild for Disputed Wage Claims
SABINE OIL: Files Chapter 11 After Failed Restructuring Talks

SABINE OIL: Moody's Cuts Probability of Default Rating to 'D-PD'
SABINE OIL: Receives Court Approval of First Day Motions
SABINE OIL: S&P Withdraws 'D' Corporate Credit Rating
SABINE OIL: Still In Talks With Lenders on Consensual Restructuring
SANTA CRUZ BERRY: Creditors' Panel Hires Fox Rothschild as Counsel

SEADRILL LTD: 2021 Bank Debt Trades at 25% Off
SILICON GENESIS: Cash Use FirstHand Cash Collateral
SIMPLY FASHION: Committee Gets Approval to File Claims vs. Shah
SUNOCO LP: Moody's Assigns 'Ba3' Rating to New $500-Mil. Notes
SUNOCO LP: S&P Assigns 'BB' Rating on New $500MM Unsecured Notes

TELX GROUP: S&P Puts 'B-' CCR on CreditWatch Positive
TERRA-GEN FINANCE: S&P Affirms 'B+' Corporate Credit Rating
TERVITA CORP: Bank Debt Trades at 7% Off
VARIANT HOLDING: Judge Denies Payment of Claims from Sale Proceeds
WALTER ENERGY: Case Summary & 50 Largest Unsecured Creditors

WAND INTERMEDIATE: S&P Retains 'B+' Rating on 1st Lien Loan
WAYNE MERGER: Moody's Assigns 'B3' Corporate Family Rating
WAYNE MERGER: S&P Assigns 'B' Corporate Credit Rating
WEST CORP: Appoints Diane Offereins as Director
WHISKEY ONE: Case Summary & 5 Largest Unsecured Creditors

WNA HOLDINGS: S&P Puts 'B' CCR on CreditWatch Positive
XZERES CORP: Incurs $1.7 Million Net Loss in First Quarter
ZOGENIX INC: Files Copy of the Presentation Materials with SEC
[*] Asbestos Court Among Nation's Worst "Judicial Hellholes"
[^] BOOK REVIEW: Hospitals, Health and People


                            *********

1521 WEST SHERWIN: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: 1521 West Sherwin LLC
        1608 W. Sherwin Ave.
        Chicago, IL 60626

Case No.: 15-24151

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: July 15, 2015

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Hon. Pamela S. Hollis

Debtor's Counsel: Karen J Porter, Esq.
                  PORTER LAW NETWORK
                  230 West Monroe, Suite 240
                  Chicago, IL 60606
                  Tel: 312-372-4400
                  Fax: 312-372-4160
                  Email: porterlawnetwork@gmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ivan Cico, Jr., manager.

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


APOLLO MEDICAL: Posts $1.8 Million Net Loss for Fiscal 2015
-----------------------------------------------------------
Apollo Medical Holdings, Inc. filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing
a net loss attributable to the Company of $1.8 million on $32.9
million of net revenues for the year ended March 31, 2015, compared
to a net loss attributable to the Company of $5 million on $10.5
million of net revenues for the year ended Jan. 31, 2014.  For the
two months ended March 31, 2014, the Company reported a net loss
attributable to the Company of $766,442 on $2.3 million of net
revenues.

As of March 31, 2015, the Company had $14.9 million in total
assets, $15.9 million in total liabilities and a $990,184 total
stockholders' deficit.

At March 31, 2015, the Company had cash and cash equivalents of
approximately $5 million compared to cash and cash equivalents of
approximately $6.8 million at March 31, 2014.  At March 31, 2015,
the Company had borrowings totaling $8.6 million compared to
borrowings at March 31, 2014 of $6.8 million.

"We believe our cash balances on hand as of March 31, 2015 of $5.0
million and availability under our lines of credit of approximately
$380,000 will be sufficient to meet our working capital
requirements for at least the next twelve months.  Cash flows from
operations is unpredictable.  ApolloMed ACO has limited experience
operating an ACO or managed care organization and its revenues, if
any, are difficult to predict.  Further, MMG is growing rapidly and
received a one-time true-up payment in the fourth quarter of 2015
for services rendered throughout fiscal year 2015.  Such amounts
will be paid as earned on a go-forward basis.  That make it
difficult to predict its future cash flow and results.  As a
result, we may require additional funding to meet certain
obligations until sufficient cash flows are generated from
anticipated operations.  If available funds are not adequate, we
may need to obtain additional sources of funds or reduce
operations.  There is no assurance we will be successful in doing
so."

"We cannot assure that additional funding will be available on
favorable terms, or at all.  If we fail to obtain additional
funding when needed, we may not be able to execute our business
plans and our business may suffer, which would have a material
adverse effect on our financial position, results of operations and
cash flows," the Company said in the Report.

A copy of the Form 10-K is available at http://is.gd/PLXJvu

                       About Apollo Medical

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

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


BLUE RACER: S&P Retains 'B' Rating on $550 Million Add-On Notes
---------------------------------------------------------------
Standard & Poor's Ratings Services said that its 'B' issue-level
rating and '5' recovery rating on U.S. midstream energy company
Blue Racer Midstream LLC's and Blue Racer Finance Corp.'s $550
million, 6.125% senior unsecured notes due 2022 are unchanged after
the company announced its proposal to issue a $300 million add-on
to the notes.  The notes will total $850 million.  S&P's 'B+'
corporate credit rating and stable outlook on Blue Racer are
unchanged.

The '5' recovery rating on the partnership's notes indicates S&P's
expectation of "modest" (30% to 50%; upper half of the range)
recovery if a payment default occurs.  The company intends to use
net proceeds to repay borrowings outstanding under its credit
facility, fund expansion projects, and for general corporate
purposes.

Blue Racer is a joint venture between Caiman Energy II LLC and
Dominion Resources Inc. that specializes in natural gas gathering
and processing and natural gas liquid fractionation in the Utica
and Marcellus shale regions of the U.S.

RATINGS LIST

Ratings Unchanged
Blue Racer Midstream LLC
Corp credit rating                    B+/Stable/--

Blue Racer Midstream LLC
Blue Racer Finance Corp.
$850 mil sr unsecd notes due 2022     B
Recovery rating                       5H



BOART LONGYEAR: S&P Raises CCR to 'CCC+', Outlook Negative
----------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Boart Longyear Ltd. to 'CCC+' from 'CCC' and
removed the rating from CreditWatch, where S&P placed it with
positive implications on Oct. 24, 2014.  The outlook is negative.

At the same time, S&P raised its issue-level ratings on subsidiary
Boart Longyear Management Pty Ltd.'s secured notes to 'B' from 'B-'
and its senior unsecured notes to 'CCC+' from 'CCC' and removed the
ratings from CreditWatch, where S&P placed them with positive
implications on Oct. 24, 2014.  S&P maintained the '1' recovery
rating on the secured notes, which indicates S&P's expectation for
very high (90% to 100%) recovery and the '4' recovery rating on the
unsecured notes, which indicates S&P's expectation for average
(lower half of the 30% to 50% range) recovery in the event of a
payment default.

The upgrade reflects S&P's view that the recapitalization Boart
Longyear completed in the first quarter of 2015 was successful, and
provided the company with cash to finance capital spending and
working capital needs while EBITDA generation remains weak as it
seeks to navigate through the challenging mining environment.  The
recapitalization also gives the company covenant relief, since the
term loans provided by Centerbridge Partners L.P. are covenant-lite
in nature.

"The negative outlook reflects our view that Boart Longyear's
EBITDA will remain low and its leverage very high over the next 12
months, as persistently weak prices for many metals depress
investment by mining companies," said Standard & Poor's credit
analyst Patricia Mendonca.

S&P could lower its ratings by one or more notches if market
conditions worsen and the company experiences cash burn through the
next 12 months, finding itself in the position of having to fund
operating losses and debt services with available cash and
short-term borrowings, which could lead S&P to consider liquidity
as "less than adequate."  S&P could also lower the rating if it
believes that a default, distressed debt exchange, or some other
form of capital restructuring appears to be inevitable within the
next 12 to 18 months, absent unanticipated significantly favorable
changes in the company's circumstances.

An upgrade is unlikely over the next 12 months given S&P's
expectation that gold, copper, and iron ore prices will not improve
significantly in this time period.  S&P expects limited incremental
exploration investment by commodities miners and demand for Boart
Longyear's drilling services and products, which could prevent
notable improvement in the company's key credit ratios and
liquidity position.



BPZ RESOURCES: Court Approves Sale Deals With Zedd & Zorritos
-------------------------------------------------------------
BPZ Resources, Inc. said in a regulatory filing with the Securities
and Exchange Commission that, following a bidding and auction
process, on July 8, 2015, the U.S. Bankruptcy Court for the
Southern District of Texas entered an Order with respect to the
following:

     (i) approving the Purchase and Sale Agreement between the
Company and Zedd Energy Holdco Ltd.;

    (ii) approving the Purchase and Sale Agreement between the
Company and Zorritos Peru Holdings Inc.;

   (iii) authorizing the sale of the Company's assets as
contemplated by the Purchase Agreement and Spin-Off Contract free
and clear of any claims, liens, interests and encumbrances; and

    (iv) authorizing the Company to take any action necessary to
consummate the transactions contemplated by the Purchase Agreement
and the Spin-Off Contract.

The Order expressly is not to be construed as determining,
impairing, restricting, limiting or otherwise waiving any rights,
claims, interests and/or defenses that Pacific Rubiales Energy
Corp. and Pacific Off Shore Peru S.R.L. has or may have with
respect to BPZ Exploracion & Produccion S.R.L. or any other
non-debtor entity under the Joint Operating Agreement and Operating
Services Agreement for Block Z-1, or any other contract or
agreement between PRE and any non-debtor entity. Likewise, all
rights of the Company, the Official Committee of Unsecured
Creditors or any other parties to challenge the assertion of any
such PRE Rights/Claims are also expressly preserved.

                  $8.5 Mil. Sale Deal with Zedd

In connection with the Bankruptcy Case, the Company, as seller, and
Zedd Energy Holdco Ltd., a Cayman Islands exempted limited company,
as purchaser, entered into a Purchase and Sale Agreement pursuant
to which the Company has agreed to sell to Zedd pursuant to Section
105 and 363 of the Bankruptcy Code all of its equity interests in a
new subsidiary holding company structure for its subsidiaries BPZ
Energy, LLC, a Texas limited liability company, BPZ E&P and BPZ
Marine Peru S.R.L., which is required to be implemented to effect
the transfer, subject to satisfaction of certain conditions set
forth in the Purchase Agreement.

Following an internal restructuring and the spin-off transaction
prior to the sale of the equity interests, the assets that will
remain with these entities after the sale to Zedd are:

     * BPZ E&P's 51% working interest in the License Contract
       for offshore Block Z-1 in northwest Peru,

     * all of the Company's marine assets, and

     * any related assets.

The Purchase Agreement provides for a purchase price of $8.5
million in cash, payable upon closing.

Consummation of the Purchase Agreement with Zedd is subject to a
number of customary and other closing conditions, including, among
others, (i) the accuracy of the representation and warranties of
the parties, (ii) material compliance by the parties with their
obligations under the Purchase Agreement, (iii) consummation of the
internal restructuring and (iv) certain tax-related conditions.

              $1 Mil. Spin-Off Contract with Zorritos

In connection with the Bankruptcy Case, the Company, as seller, and
Zorritos Peru Holdings Inc., a Panama corporation, as purchaser,
entered into a Purchase and Sale Agreement dated as of July 8, 2015
pursuant to which the Company has agreed, either directly or
indirectly, to cause the following spin-off transactions to
Zorritos pursuant to Section 105 and 363 of the Bankruptcy Code:

     (i) transfer and assign all of BPZ E&P's rights and
         obligations under the license contracts of onshore
         Blocks XIX, XXII and XXIII in northwestern Peru to
         Upland Oil & Gas, S.R.L. or any other qualified
         operator as defined under Peruvian law as designated
         by Zorritos;

    (ii) all cash and other collateral supporting any corporate
         or financial guarantees granted or issued by BPZ E&P
         with respect to the Onshore Block Licenses;

   (iii) certain material and supplies of BPZ E&P related to
         the Onshore Block Licenses;

    (iv) the intellectual property related to the Onshore Block
         Licenses;

     (v) all equity interests in the Company's power generation
         subsidiary Empresa Electrica Nueva Esperanza S.R.L.,

    (vi) subject to Ecuadorian government approval and
         applicable rights of first refusal, all equity
         interests in the Company's subsidiary SMC Ecuador,
         Inc.; and

   (vii) any other contracts, licenses, permits, orders and
         related rights relating solely to the ownership,
         operation or use of the Spin-Off Assets.

Items (i) to (vi) are the so-called Spin-Off Assets.

The Spin-Off Contract provides for a purchase price of $1.0 million
in cash, payable upon closing, subject to certain adjustments if
the SMC Ecuador, Inc. equity interests are not acquired.

Consummation of the Spin-Off Contract with Zorritos is subject to a
number of customary closing conditions, including, among others,
(i) the accuracy of the representation and warranties of the
parties and (ii) material compliance by the parties with their
obligations under the Spin-Off Contract.

The transactions under the Purchase Agreement and the Spin-Off
Contract are scheduled to close on or before July 24, 2015. If
certain closing conditions under the Purchase Agreement with Zedd
are not met or waived by this date, the Company shall have the
right, in the sole collective discretion of the Company and the
Official Committee of Unsecured Creditors to seek to effect the
transaction under that certain Equity Interest Purchase and Sale
Agreement, dated as of July 8, 2015, by and between the Company and
Zorritos (which is currently the back-up bidder to Zedd in the
auction with respect to the sale of equity interests covered by the
Purchase Agreement). If such right is exercised, Zedd will be
deemed the back-up bidder for five business days after the Final
Closing Date, after which time it may revoke its bid and terminate
the Purchase Agreement.

A copy of the Purchase Agreement with Zedd is available at
http://is.gd/hF0sjo

A copy of the Spin-Off Contract with Zorritos is available at
http://is.gd/yb1sv4


BPZ RESOURCES: To File Chapter 11 Liquidation Plan by Aug. 6
------------------------------------------------------------
BPZ Resources, Inc., said in a regulatory filing with the
Securities and Exchange Commission that, following the closing of
certain sale transactions, the Company will have no further
business operations. The only remaining assets to liquidate are
non-operating assets consisting of the three GE LM 6000 PD gas
fired turbine packaged power units, which have been transferred
from a subsidiary to the Company in preparation for sale and
liquidation. The Company will file a Plan of Liquidation under
Chapter 11 on or before the Bankruptcy Court deadline of August 6,
2015.

As reported elsewhere in today's Troubled Company Reporter, the
Debtor has won Bankruptcy Court approval of:

     (i) a Purchase and Sale Agreement between the Company
         and Zedd Energy Holdco Ltd.; and

    (ii) a Purchase and Sale Agreement between the Company
         and Zorritos Peru Holdings Inc..

The Debtor has agreed to sell to Zedd, a Cayman Islands exempted
limited company, all of its equity interests in a new subsidiary
holding company structure for its subsidiaries BPZ Energy, LLC, a
Texas limited liability company, BPZ E&P and BPZ Marine Peru
S.R.L., for $8.5 million in cash.

Meanwhile, the Debtor has agreed to spin off certain assets and
assign them to sell to Zorritos, a Panama corporation, as
purchaser, in exchange for $1 million cash.

The transactions under the Purchase Agreement and the Spin-Off
Contract are scheduled to close on or before July 24, 2015.


BRAND ENERGY: Bank Debt Trades at 3% Off
----------------------------------------
Participations in a syndicated loan under which Brand Energy &
Infrastructure Services is a borrower traded in the secondary
market at 97.22 cents-on-the-dollar during the week ended Friday,
July 10, 2015, according to data compiled by LSTA/Thomson Reuters
MTM Pricing and reported in the July 14, 2015, edition of The Wall
Street Journal.  This represents a decrease of 0.50 percentage
points from the previous week, The Journal relates.  Brand Energy
pays 375 basis points above LIBOR to borrow under the facility. The
bank loan matures on Nov. 12, 2020, and carries Moody's B1 rating
and Standard & Poor's B rating.  The loan is one of the biggest
gainers and losers among 256 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended July 10.



CAESARS ENTERTAINMENT: 2017 Bank Debt Trades at 13% Off
-------------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
87.30 cents-on-the- dollar during the week ended Friday, July 10,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in the July 14, 2015, edition of The Wall
Street Journal.  This represents a decrease of 0.17 percentage
points from the previous week, The Journal relates. Caesars
Entertainment Inc. pays 875 basis points above LIBOR to borrow
under the facility.  The bank loan matures on March 1, 2017, and
carries Moody's withdraws its rating and Standard & Poor's D
rating.  The loan is one of the biggest gainers and losers among
256 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended July 10.



CAL DIVE: Judge Extends Deadline to Remove Suits to Sept. 29
------------------------------------------------------------
U.S. Bankruptcy Judge Christopher Sontchi has given Cal Dive
International Inc. until Sept. 29, 2015, to file notices of removal
of lawsuits involving the company and its affiliates.

                   About Cal Dive International

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

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

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

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

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

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


CALIFORNIA RESOURCES: S&P Affirms 'BB+' CCR & Alters Outlook to Neg
-------------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB+' corporate
credit rating on independent exploration and production company
California Resources Corp. (CRC) and revised the outlook to
negative from stable.  In addition, S&P affirmed the 'BBB'
issue-level ratings on CRC's $2 billion credit facility and $1
billion term loan, as well as the 'BB' issue-level ratings on its
$5 billion of senior unsecured notes.

"The negative outlook reflects our revised expectation for realized
prices and operating costs, resulting in weaker-than-expected
financial measures over the next 18 months," said Standard & Poor's
credit analyst Paul Havey.

For 2015, S&P now expects funds from operations (FFO) to debt to
fall below 10% and for debt to EBITDAX to exceed 5x.  However, S&P
do expect financial measures to improve in 2016 and 2017 such that
the weighted three-year average FFO/debt should be between 12% and
15% and debt to EBITDAX between 5x and 5.5x.  S&P gives FFO/debt
greater weight in its analysis of CRC because it expects the ratio
to be a better barometer of future cash flow strength when compared
to that of its peers.

The ratings on Los Angeles-based California Resources Corp. reflect
S&P's assessment of the company's "satisfactory" business risk
profile, "aggressive" financial risk profile, and "adequate"
liquidity.  These risk factors incorporate the company's sizable
scale of operations; limited geographic diversity (limited to
California, albeit within four separate basins); oil-focused
reserves and production base; and participation in the
capital-intensive and very cyclical exploration and production
(E&P) industry.

The negative outlook reflects the potential for a downgrade over
the next 12 to 18 months if the company's financial performance
continues to weaken.  S&P currently expects 2015 financial measures
to weaken considerably relative to 2014, including FFO/debt below
12% and debt/EBITDAX above 5x, although improving thereafter as
S&P's price assumptions strengthen.

S&P could lower the ratings if it expects the company to sustain
average FFO to debt below 12% and average debt/EBITDAX above 5x.
This would most likely occur if average crude oil prices are
sustained below $60 per barrel and natural gas falls below $3.00
per mmBtu.  In addition, weaker-than-expected operating performance
or more aggressive-than-expected capital spending could result in a
downgrade.

S&P could stabilize ratings if it expected the company to maintain
FFO/debt comfortably above 12% and debt/EBITDA below 5x.  This
would most likely occur if S&P expected sustained crude oil prices
would average above $60 per barrel and natural gas of about $3.00
per mmBtu.



CENTRAL OKLAHOMA: Plan Solicitation Period Extended to Sept. 14
---------------------------------------------------------------
The Hon. Tom R. Cornish of the U.S. Bankruptcy Court for the
Western District of Oklahoma extended until Sept. 14, 2015, Central
Oklahoma United Methodist Retirement Facility, Inc.'s exclusive
period to solicit acceptances for the First Modified Plan of
Reorganization.

The Debtor, in its third motion, explained it needed additional
time to negotiate with parties-in-interest concerning the terms of
the Modified Plan, to seek approval of the Disclosure Statement by
the Court, and to begin formally soliciting acceptances of the
Modified Plan.

The Court has, on May 7 and June 4, 2015, conducted telephonic
conferences with counsel in the case.  In those conferences, time
requirements for disclosure statement approval proceedings have
been discussed.  Also in those conferences, the Court has advised
counsel for parties-in-interest that a settlement conference may be
ordered with respect to contested issues.  Although the possible
benefit of a settlement conference or mediation is appreciated,
concern has been expressed about the process to be utilized to
identify disputed issues for submission to a settlement conference
judge or mediator.

On June 11, 2015, on the Debtor's application, the Court entered an
order and notice of objection deadline and hearing -- Disclosure
Statement, setting the hearing on approval of the Disclosure
Statement for July 28.

Parties-in-interest that objected to the Debtor's third motion to
extend exclusive period included William Hicks, individually and as
guardian Ad Litem for Virginia Hicks, Kirk Olson, Olson Law Firm,
P.L.L.C., Joe White, and White & Weddle, PC.

Mr. Hicks, in his objection, said that that the Disclosure
Statement has these deficiencies:

   -- complete lack of a substantive liquidation analysis;

   -- failure to adequate disclose the repeated outrageous conduct
of Debtor, both before and during, the litigation that gave rise to
the Hicks' award of punitive damages;

   -- lack of any description of specific assets and their value;
and

   -- lack of appraised values for real property.

Mr. Hicks is represented by:

         Armando J. Rosell, Esq.
         MULINIX OGDEN HALL & LUDLAM, PLLC
         210 Park Avenue, Suite 3030
         Oklahoma City, OK 73102
         Tel: (405) 232-3800
         Fax: (405) 232-8999
         E-mail: rosell@lawokc.com

         Jeffrey E. Tate, Esq.
         CHRISTENSEN LAW GROUP, P.L.L.C.
         The Parkway Building
         3401 N.W. 63rd Street, Suite 600
         Tel: (405) 232-2020
         Fax: (405) 236-1012
         E-mail: jeffrey@christensenlawgroup.com

              About Central Oklahoma United Methodist

Central Oklahoma United Methodist Retirement Facility, Inc., dba
Epworth Villa, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Okla. Case No. 14-12995) on July 18,
2014.  The case is before Judge Sarah A. Hall.

Brandon Craig Bickle, Esq., Sidney K. Swinson, Esq., and Mark D.G.
Sanders, Esq., at Gable & Gotwals, P.C., in Tulsa, Oklahoma; and G.
Blaine Schwabe, III, Esq., at Gable & Gotwals, P.C., in Oklahoma
City, Oklahoma, represent the Debtor in its restructuring effort.

The Debtor reported $118 million in total assets, and $108 million
in total liabilities.



CHARLES ROLLINS: Summary Judgment Order in JV Suit Reversed
-----------------------------------------------------------
Judge William Q. Hayes of the United States District for Southern
District of California reversed an order granting summary judgment
in favor of Elephant Productions, Inc., in a case arising from the
production company's joint venture with Debtor Charles Rollins.

Elephant Productions and Debtor Charles Rollins entered into a
joint venture agreement for production of a golf video produced and
paid for by Elephant Productions, with the Debtor obligated to
distribute the video and pay Elephant Productions a percentage of
the revenues.  A dispute arose between the parties over the joint
venture agreement, and the Debtor filed a complaint in San Diego
County Superior Court against Elephant Productions, alleging nine
claims for relief related to the joint venture.  The San Diego
Superior Court dismissed the case with prejudice.  

Elephant Productions filed a separate action in Texas state court
against the Debtor, alleging breach of contract, breach of
fiduciary duty, fraud, and malicious prosecution.  The Debtor
failed to respond, and on November 2, 2011, in the Texas Action,
Elephant Production moved for a default judgment.

Judge Hayes reversed the summary judgment order and remanded the
case to the United States Bankruptcy Court for the Southern
District of California for further proceedings.  The District Court
found that the bankruptcy court did not err by considering the
Debtor's Second Answer but failing to construe it as an
"opposition" in its tentative order, which was later adopted into
its final order.  Judge Hayes further ruled that the record is not
sufficient to conclude that the Debtor's alleged "fraud" or
"malice" was fully and fairly litigated.

The case is CHARLES ROLLINS, Appellant, v. ELEPHANT PRODUCTIONS,
INC., ET AL., Appellees, Civil Case No.: 14CV2849-WQH-JMA, (S.D.
Calif.).

The bankruptcy case is In Re: CHARLES ROLLINS, Debtor, BANKRUPTCY
NO. 13-11744-LA7, (Bankr. S.D. Calif.).

A full-text copy of Judge Hayes' Order dated July 7, 2015, is
available at http://is.gd/VqRN2bfrom Leagle.com.

Charles Rollins, Debtor, In Re, Pro Se.

Ashley Naporlee, Esq. -- ashley@grantlawyers.com -- of The Grant
Law Firm serves as counsel for Appellee Elephant Productions, Inc.


CLUB AT SHENANDOAH: Aug. 8 Hearing on Bid to Dismiss Ch. 11 Case
----------------------------------------------------------------
Judge Mark D. Houle of the United States Bankruptcy Court for the
Central District of California, Riverside Division, will convene a
hearing on Aug. 8, 2015, at 2:00 p.m., for The Club at Shenandoah
Springs Village, Inc., to show cause why its Chapter 11 case must
be dismissed or converted to one under Chapter 7 of the Bankruptcy
Code.

The Debtor explained that sufficient cause exists to grant their
Motion as (1) it Debtor has sold substantially all assets of the
estate; (2) although there are ongoing business operations, there
is no further benefit to be provided by a continuation of the
bankruptcy proceedings; (3) the available funds will be distributed
to creditors; (4) distribution of the available funds to the
estate's creditors will occur much faster through dismissal than
through a plan of reorganization; (5) continuation of the Chapter
11 will provide no additional benefit but will guaranty additional
cost and delay, (6) dismissal will stop the accrual of additional
fees and costs, including quarterly fees for the Office of the
United States Trustee, and other costs associated with the
administration of the Debtor's chapter 11 case; and (7) conversion
of the case to Chapter 7, as opposed to dismissal, would offer no
benefit to creditors of the estate since no purpose would be served
due to the payment of all claims as a condition of dismissal
thereby making administration of the case in a Chapter 7 context
imprudent and unnecessary.

Patricia Wood, a creditor, opposed the Debtor's Motion, saying her
claim is not listed as a claim to be paid as a condition of
dismissal and arguing that there is no reason to dismiss the
present case before the resolution or payment of her claim, to
which Debtor has not objected, and who has been required by the
bankruptcy stay to wait nearly and half years to have her claim
adjudicated/resolved.  

The U.S. Trustee also opposed the Debtor's motion, arguing that the
motion does not explain how the Debtor will address certain claims
like 2014 income taxes, GE Capital, Inc., Rickards & Phillips and
Pegasus Investments.  In addition, the U.S. Trustee complained that
the Debtor's proof of service of the notice of the motion does not
evidence service on Pegasus.  Moreover, the liabilities not
addressed by the motion may prevent the Debtor from paying 100% to
general unsecured creditors, the U.S. Trustee said.

In response, the Debtor argued that the oppositions are without
merit and must be overruled.  The Debtor pointed out that the U.S.
Trustee's is based on false assumptions, a misreading of the motion
and improbable hypotheticals.  The Debtor told the Court that it
has addressed all tax claims, its motion adequately describes the
treatment of GE Capital's claims, and the potential administrative
claim of Rickards & Phillips is de minimis at best.  Moreover, the
Debtor said Pegasus Investments is not a creditor of the estate and
is not entitled to notice of the motion.

The Debtor also told the Court that it has agreed to a settlement
of the Ms. Wood's action and her claim.  In their settlement
agreement, the parties agreed that: (1) the Debtor will pay Ms.
Wood $375,000; (2) Ms. Wood will withdraw her opposition to the
motion; (3) Ms. Wood may withdraw from the settlement if the
compromise is not approved as part of the pending Chapter 11 case;
and (4) upon receipt of payment in full of the settlement proceeds,
Ms. Wood will dismiss, with prejudice, the Wood Action.

The Debtor is represented by:

         Daniel A. Lev, Esq.
         Steven F. Werth, Esq.
         SULMEYERKUPETZ - A PROFESSIONAL CORPORATION
         333 South Hope Street, Thirty-Fifth Floor
         Los Angeles, CA 90071
         Tel: 213 626-2311
         Fax: 213 629-4520
         Email: dlev@sulmeyerlaw.com
                swerth@sulmeyerlaw.com

Patricia Wood is represented by:

         George Hanover, Esq.
         Summer Shaw, Esq.
         LAW OFFICES OF HANOVER & SHAW
         73-710 Fred Waring Drive, Suite 100
         Palm Desert, CA 92260
         Tel: 760 862-1982
         Fax: 760 776-6555

The U.S. Trustee is represented by:

         Abram S. Feuerstein, Esq.
         Jason Schrader, Esq.
         United States Department of Justice
         Office of the United States Trustee
         3801 University Avenue, Suite 720
         Riverside, CA 92501
         Tel: 951 276-6990
         Fax: 951 276-6973
         Email: jason.k.schrader@usdoj.gov

                        About The Club at Shenandoah

The Club at Shenandoah Springs Village, Inc., owns The Club At
Shenandoah Springs Village, a golf and leisure resort in Thousand
Palms, a desert region of central California.  It filed for Chapter
11 protection (Bankr. C.D. Cal. Case No. 12-36723) on Dec. 3,
2012.

The Debtor disclosed $31,280,992 in assets and $12,840,954 in
liabilities as of the Chapter 11 filing.  Judge Mark D. Houle
presides over the case.  Daniel A. Lev, Esq., and Steven Worth,
Esq., at SulmeyerKupetz, in Los Angeles, California represent the
Debtor as counsel.


CORE ENTERTAINMENT: Moody's Cuts Prob. of Default Rating to 'D-PD'
------------------------------------------------------------------
Moody's Investors Service downgraded CORE Entertainment Inc.'s
(CORE) probability of default rating to D-PD from Ca-PD, the
corporate family rating (CFR) to Ca from Caa3 and the 1st lien term
loan was downgraded to Caa2 from Caa1. The Ca rating on the 2nd
lien term loan is affirmed. The outlook remains negative.

The downgrade reflects the expiration of the grace period for the
missed interest payment on the 2nd lien term loan which Moody's
considers a default.

Issuer: CORE Entertainment Inc.

Corporate Family Rating, downgraded to Ca from Caa3

Probability of Default Rating, downgraded to D-PD from Ca-PD

$200 million Senior Secured 1st Lien Term Loan due 2017,
downgraded to Caa2 (LGD2) from Caa1 (LGD2)

$160 million Senior Secured 2nd Lien Term Loan due 2018, Ca (LGD4)
affirmed

Outlook, Negative

RATINGS RATIONALE

CORE's Ca CFR reflects the company's leverage of over 10x as of Q1
2015 (including Moody's standard adjustments), the missed interest
payment on the 2nd lien term loan, and material declines in EBITDA
attributable to its US Idol franchise that will not be renewed on
Fox after the 2016 season. The cash balance has not been used to
acquire EBITDA producing assets to offset the EBITDA lost following
the Elvis Presley Enterprises sale and development of new
programming content has been slower than expected. Following the
2016 season of Idol, the company will be reliant on its So You
Think You Can Dance (Dance), International Idol format revenue, and
its Sharp Entertainment division for earnings which will increase
the unsustainability of its capital structure with debt that starts
to mature in June 2017. Its Dance show that airs during the summer
has been a successful series, but is up for renewal at the end of
each season and an eventual replacement will need to be found for
this show as well. Ratings are also constrained by the company's
very small scale and we anticipate that leverage will remain very
high absent a deleveraging transaction. Core benefits from its $82
million cash balance, but we expect it will continue to decline
going forward from negative free cash flow. The company has a
shared service agreement with Endemol and is owned by a joint
venture between Apollo and Twenty First Century Fox, Inc.

Despite the large cash balance, we consider CORE's liquidity
profile to be weak given the significant negative free cash flow,
the missed interest payment on the 2nd lien term loan, and
approaching maturities of its 1st lien term loan in June 2017 and
2nd lien term loan in June 2018 which elevates the potential for a
restructuring. CORE does not have a revolving credit facility in
place and borrowed $15 million from Apollo to fund the Sharp
acquisition which is payable upon demand.

The negative outlook reflects the very high leverage, the decline
of its Idol franchise, the missed interest payment on the 2nd lien
term loan, and negative free cash flow that elevates restructuring
risk.

CORE Entertainment, Inc. ("CORE") (fka CKX Entertainment, Inc.)
owns and develops entertainment content worldwide. It holds
proprietary rights to the American Idol and So You Think You Can
Dance series through its co-ownership of these brands. The company
also acquired 100% of Sharp Entertainment LLC ("Sharp"), a reality
television production company, in July 2012 for approximately $38.6
million plus preferred stock. For the LTM through Q1, 2015 the
company generated revenue of approximately $157 million.



DORAL FINANCIAL: FDIC Can Repudiate Servicing Agreement with Bank
-----------------------------------------------------------------
Judge Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York modified the automatic stay imposed
in the Chapter 11 case of Doral Financial Corporation to permit the
Federal Deposit Insurance Corporation to exercise its rights to
repudiate a master servicing agreement between the Debtor and Doral
Bank.

The FDIC asserted that it should be permitted to repudiate the
burdensome servicing agreements that interfere with orderly
administration of the failed bank's affairs.

Doral Financial Corporation 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

The FDIC is represented by:
     
         Christopher K. Kiplok, Esq.
         Gabrielle Glemann, Esq.
         HUGHES HUBBARD & REED LLP
         One Battery Park Plaza
         New York, NY 10004-1482
         Tel: (212) 837-6000
         Fax: (212) 422-4726
         Email: gabrielle.glemann@hugheshubbard.com

            -- and --

         B. Amon James, Esq.
         Nicholas Katsonis, Esq.
         FEDERAL DEPOSIT INSURANCE CORPORATION
         501 Fairfax Drive, Room VS-D-7060
         Arlington, VA 22226
         Tel: (703) 562-2089
         Fax: (703) 562-2475
         Email: bajames@FDIC.gov
                nkatsonis@FDIC.gov

                      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.


EAST CAMERON: Goldking Capital's Bid to Withdraw Reference Denied
-----------------------------------------------------------------
Judge Rebecca F. Doherty of the United States District Court for
Western District of Louisiana, Lafayette Division, denied a request
by Goldking Capital Management LLC, et al., to withdraw reference
in the adversary proceeding filed against them by Paul N.
Debaillon, the liquidating trustee for East Cameron Partners, L.P.,
Liquidating Trust.

The Debtor employed Leonard C. Tallerine, Jr., acting through
Goldking Capital Management LLC, as its Chief Restructuring
Officer.

Following the confirmation of the Debtor's plan, the Liquidating
the Trustee initiated the Adversary Proceeding against the
defendants, alleging that "rather than perform the fiduciary duties
with which they had been entrusted, Tallerine, through Goldking,
and with the aid of other Defendants, instead utilized their
position as the Debtor's CRO to raid the Estate through outright
fraud and embezzlement, as well as to employ the Debtor's accounts
as a personal slush fund, 'borrowing' the Estate's cash whenever
they needed it, in clear contravention of the terms of their
employment agreement and numerous Orders of the Bankruptcy Court."

The Defendants asked the District Court to withdraw the adversary
proceeding from the bankruptcy court and allow the matter to
proceed before the District Court.

Judge Doherty denied the Defendants' motion to withdraw reference,
holding that, at this time, the request is premature and the
defendants failed to carry their burden of proof, without prejudice
to the defendants' right to re-urge the motion when the matter is
in proper posture for trial.

The case is PAUL N. DEBAILLON, Liquidating Trustee for the East
Cameron Partners, L.P. Liquidating Trust, v. GOLDKING CAPITAL
MANAGEMENT LLC, ET AL., Civil Action No. 6:14-3008, (W.D. La.).

A full-text copy of Judge Doherty's Memorandum Ruling dated June
17, 2015, is available at http://is.gd/HqGFbhfrom Leagle.com.

                 About East Cameron Partners

Based in Lafayette, Louisiana, East Cameron Partners, LP --
http://www.eastcameronpartners.com/-- is an independent oil and  
gas exploration and production company.  The Company filed for
Chapter 11 relief on Oct. 16, 2008 (Bankr. W.D. La. Case No.
08-51207).

Benjamin W. Kadden, Esq., Christopher T. Caplinger, Esq., and
Stewart F. Peck, Esq., at Lugenbuhl, Wheaton, Peck, Rankin &
Hubbard, represent the Debtor as counsel.

Michael H. Piper, Esq., and William E. Steffes, Esq., at Steffes,
Vingiello & McKenzie, L.L.C., represent the Official Committee of
Unsecured Creditors.

The Debtor estimated assets and debts both in excess of $100
million in its Chapter 11 petition.


EFT HOLDINGS: Posts $5.3 Million Net Loss for Fiscal 2015
---------------------------------------------------------
EFT Holdings, Inc. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$5.30 million on $968,000 of net total revenues for the year ended
March 31, 2015, compared to a net loss of $20.3 million on $1.80
million of net total revenues for the year ended March 31, 2014.

As of March 31, 2015, the Company had $6.90 million in total
assets, $14.4 million in total liabilities and a $7.50 million
total deficiency.

Paritz & Company, P.A., in Hackensack, New Jersey, issued a "going
concern" opinion in its report on the consolidated financial
statements for the year ended March 31, 2015, citing that the
Company has negative working capital of $8,771,507 and an
accumulated deficit of $60,304,126 as of March 31, 2015, reported
net losses and did not generate cash from operations for past two
years.  These circumstances, among others, raise substantial doubt
about the Company's ability to continue as a going concern.

A copy of the Form 10-K is available at http://is.gd/SwBcvM

                        About EFT Holding

California-based EFT Holdings, Inc., is primarily an e-Business
company designed around the "Business-to-Customer" concept, which
means that the Company's products are sold directly to customers
through its web site.  The Company's "Business-to-Customer" model
differs from the traditional "Business to Business" model where
products are sold to distributors who then sell the products to
ultimate customers.


ELBIT IMAGING: BCBS Plans Provide Benefits for ExAblate Procedure
-----------------------------------------------------------------
Elbit Imaging Ltd. said it was informed by InSightec Ltd., that
Blue Cross Blue Shield of Massachusetts, Blue Cross Blue Shield of
Mississippi, Wellmark Blue Cross Blue Shield, Blue Cross of Idaho
and Blue Cross Blue Shield of Arizona have published updates to
their Magnetic Resonance Imaging-guided Focused Ultrasound coverage
policy and are now providing benefits for INSIGHTEC's ExAblate
procedure as a treatment option that is FDA-approved for patients
suffering from pain associated with bone metastases.

InSightec estimates that such favorable policy update will make
available to the members of Blue Cross Blue Shield of
Massachusetts, Blue Cross Blue Shield of Mississippi, Wellmark Blue
Cross Blue Shield, Blue Cross of Idaho and Blue Cross Blue Shield
of Arizona, treatments for painful bone metastases using
InSightec's ExAblate procedure as a treatment option cleared by the
Food and Drug Administration.

Blue Cross Blue Shield of Massachusetts, Blue Cross Blue Shield of
Mississippi, Wellmark Blue Cross Blue Shield, Blue Cross of Idaho
and Blue Cross Blue Shield of Arizona provide benefits to about 6.2
million members combined.

The Company holds approximately 82.7% of the share capital of Elbit
Medical Technologies Ltd. (on a fully diluted basis) which, in
turn, holds approximately 29.6% of the share capital in InSightec
(on a fully diluted basis).

                        About Elbit Imaging

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

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

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

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

As of March 31, 2015, Elbit Imaging had NIS 3.33 billion in total
assets, NIS 2.87 billion in total liabilities and NIS 459 million
in shareholders' equity.


ELEPHANT TALK: Enters into Amended $6.5 Million Credit Agreement
----------------------------------------------------------------
Elephant Talk Communications Corp. announced that as of July 9,
2015, it has entered into an amended credit agreement with its
existing lender for a term loan facility of $6.5 million.

Steven van der Velden, chairman and CEO of Elephant Talk stated,
"We are pleased to enter into an amended long-term credit agreement
with our existing lender for a Term Loan Facility of $6.5 million.
With the completion of this agreement and our recent settlement
with Grupo lusacell which included $12.6 million in cash that was
partially used to retire $5.7 million of the lender's original 2014
$12 million term loan and certain expenses in connection with the
amended $6.5 million loan, we are well positioned to execute on our
strategic growth initiatives currently underway in North America,
Latin America, Europe and the Middle East.  We want to thank our
creditors and our shareholders for their patience and support
during this process."

As part of the amendment dated July 9, 2015, Elephant Talk and its
subsidiaries and Atalaya Administrative LLC, as administrative
agent and collateral agent, entered into a First Amendment to the
Credit Agreement and Waiver, amending certain terms of the Credit
Agreement between the parties dated Nov. 17, 2014.  Pursuant to the
Amendment, Corbin Mezzanine Fund I, L.P., as lender, and the
Administrative Agent agreed to waive the Existing Default as
defined in the Credit Agreement subject to certain terms and
conditions in the Amendment.  The Amendment reduced the term loan
facility to $6.5 million that shall bear interest at the LIBOR rate
plus an applicable margin per annum, which may be decreased under
certain circumstances such as the Company's achievement of certain
adjusted EBITDA during certain periods.  The terms of the original
Credit Agreement and the ancillary agreements including the
Security Agreement remain in effect unless otherwise amended in the
Amendment.

                        About Elephant Talk

Lutz, Fla.-based Elephant Talk Communications, Inc. (OTC BB: ETAK)
-- http://www.elephanttalk.com/-- is an international provider of
business software and services to the telecommunications and
financial services industry.

Elephant Talk reported a net loss of $21.9 million in 2014, a net
loss of $25.5 million in 2013 and a net loss of $23.1 million in
2012.

As of March 31, 2015, the Company had $43.1 million in total
assets, $35.5 million in total liabilities and $7.61 million in
total stockholders' equity.


FORTESCUE METALS: Bank Debt Trades at 17% Off
---------------------------------------------
Participations in a syndicated loan under which Fortescue Metals
Group Corp. is a borrower traded in the secondary market at 83.39
cents-on-the- dollar during the week ended Friday, July 10, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in the July 14, 2015, edition of The Wall Street Journal.
This represents a decrease of 5.19 percentage points from the
previous week, The Journal relates. Fortescue Metals Group Corp.
pays 275 basis points above LIBOR to borrow under the facility. The
bank loan matures on June 13, 2019, and carries Moody's Ba1 rating
and Standard & Poor's BB+ rating.  The loan is one of the biggest
gainers and losers among 256 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended July 10.



FRAC TECH: Bank Debt Trades at 25% Off
--------------------------------------
Participations in a syndicated loan under which Frac Tech Services
Ltd is a borrower traded in the secondary market at 74.80
cents-on-the- dollar during the week ended Friday, July 10, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in the July 14, 2015, edition of The Wall Street Journal.
This represents a decrease of 4.87 percentage points from the
previous week, The Journal relates. Frac Tech Services Ltd. pays
475 basis points above LIBOR to borrow under the facility.  The
bank loan matures on April 3, 2021, and carries Moody's B2 rating
and Standard & Poor's B rating.  The loan is one of the biggest
gainers and losers among 256 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended July 10.



FREESEAS INC: Regains Compliance with NASDAQ Bid Price Rule
-----------------------------------------------------------
FreeSeas Inc. announced that NASDAQ notified the Company that it
had regained compliance with Listing Rule 5550(a)(2), which
requires a minimum bid price of $1.00 for continued listing on the
NASDAQ Stock Market and that the matter is now closed.

The Company previously received notice from NASDAQ that it was not
in compliance with the Minimum Bid Price Rule for continued listing
on NASDAQ, as the bid price of the Company's common stock closed
below the minimum $1.00 per share for the 30 consecutive business
days.

The letter from NASDAQ, received on July 13, 2015, stated that the
Company's common stock closed at or above $1.00 per share for a
minimum of 10 consecutive business days (from June 26, 2015, to
July 10, 2015).

                         About FreeSeas Inc.

Headquartered in Athens, Greece, FreeSeas Inc., formerly known as
Adventure Holdings S.A., was incorporated in the Marshall Islands
on April 23, 2004, for the purpose of being the ultimate holding
company of ship-owning companies.  The management of FreeSeas'
vessels is performed by Free Bulkers S.A., a Marshall Islands
company that is controlled by Ion G. Varouxakis, the Company's
Chairman, President and CEO, and one of the Company's principal
shareholders.

The Company's fleet consists of six Handysize vessels and one
Handymax vessel that carry a variety of drybulk commodities,
including iron ore, grain and coal, which are referred to as
"major bulks," as well as bauxite, phosphate, fertilizers, steel
products, cement, sugar and rice, or "minor bulks."  As of
Oct. 12, 2012, the aggregate dwt of the Company's operational
fleet is approximately 197,200 dwt and the average age of its
fleet is 15 years.

Freeseas reported a net loss of $12.7 million in 2014, a net loss
of $48.7 million in 2013 and a net loss of $30.9 million in 2012.

As of Dec. 31, 2014, the Company had $64.25 million in total
assets, $39.2 million in total liabilities and $25 million total
shareholders' equity.

RBSM LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2014, citing that the Company has incurred recurring operating
losses and has a working capital deficiency.  In addition, the
Company has failed to meet scheduled payment obligations under its
loan facilities and has not complied with certain covenants
included in its loan agreements.  Furthermore, the vast majority of
the Company's assets are considered to be highly illiquid and if
the Company were forced to liquidate, the amount realized by the
Company could be substantially lower that the carrying value of
these assets.  Also, the Company has disclosed alternative methods
of testing the carrying value of its vessels for purposes of
testing for impairment during the year ended December 31, 2014.
These conditions among others raise substantial doubt about the
Company's ability to continue as a going concern.


GENESEE & WYOMING: S&P Takes Off 'BB' CCR Watch Negative
--------------------------------------------------------
Standard & Poor's Ratings Services said that it has affirmed its
'BB' corporate credit rating on Genesee & Wyoming Inc. and removed
the rating from CreditWatch, where S&P had placed it with negative
implications on Feb. 26, 2015.  The outlook is stable.

At the same time, S&P assigned its 'BBB-' issue-level rating and
'1' recovery rating on the company's amended and extended senior
secured credit facility.  The '1' recovery rating on the debt
indicates S&P's expectation that lenders would receive a very high
recovery (90%-100%) in a payment default scenario.

"The affirmation reflects our belief that the initial deterioration
of Genesee's credit metrics from increased debt related to the
Freightliner acquisition will, over time, be offset by solid cash
flow generation and debt reduction, allowing the company to restore
its credit metrics to levels that are consistent with an
"intermediate" financial risk profile over the next two to three
years," said Standard & Poor's credit analyst Tatiana Kleiman.

The stable outlook reflects that, although S&P expects some
weakness in Genesee & Wyoming's credit metrics in 2015 because of
the additional debt from the Freightliner acquisition coupled with
softness in domestic energy-related markets and overseas iron ore
prices, S&P believes the company's credit metrics will stabilize
over the next few years due to organic growth, ongoing debt
reduction, and contributions from its acquisitions.

S&P could lower its rating on the company over the next year if it
undertakes a significant debt-financed acquisition or its earnings
deteriorate such that its FFO-to-total debt ratio falls below 23%
on a sustained basis.

Although unlikely, S&P could raise the rating over the next year if
Genesee's earnings improve and cause its FFO-to-total debt ratio to
rise above 35% area on a sustained basis.



GETTY IMAGES: Bank Debt Trades at 26% Off
-----------------------------------------
Participations in a syndicated loan under which Getty Images Inc.
is a borrower traded in the secondary market at 73.54
cents-on-the-dollar during the week ended Friday, July 10, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in the July 14, 2015, edition of The Wall Street Journal.
This represents an increase of 0.79 percentage points from the
previous week, The Journal relates. Getty Images Inc. pays 350
basis points above LIBOR to borrow under the facility.  The bank
loan matures on October 14, 2019, and carries Moody's B2 rating and
Standard & Poor's B- rating.  The loan is one of the biggest
gainers and losers among 256 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended July 10.



GO SOLAR: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Go Solar, Inc.
           dba Evergreen Sun Power LLC
        6438 S. Quebec Street
        Building 7, Suite 212
        Centennial, CO 80111

Case No.: 15-17912

Chapter 11 Petition Date: July 15, 2015

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Hon. Howard R Tallman

Debtor's Counsel: Lars H. Fuller, Esq.
                  BAKER & HOSTETLER LLP
                  1801 California St., Ste. 4400
                  Denver, CO 80202
                  Tel: 303-764-4114
                  Fax: 303-861-7805
                  Email: lfuller@bakerlaw.com

Total Assets: $2.6 million

Total Debts: $4.5 million

The petition was signed by David Robey, interim president/interim
chief executive officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cob15-17912.pdf


GOLDEN COUNTY: $33,000 in Claims Transferred From July 5 to 9
-------------------------------------------------------------
In the Chapter 11 cases of Golden County and its affiliates GCF
Franchisee, Inc., and GCF Holdings II, Inc., three claims switched
hands between July 5 and 9, 2015:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Argo Partners               Deville Technologies Inc.  $2,970.48
Cedar Glade Capital, LLC    Toufayan Bakeries Inc.    $28,682.00
Liquidity Solutions, Inc.   Fairplay Foods #207        $1,596.15

                  About Golden County Foods

Golden County and its affiliates GCF Franchisee, Inc., and
GCF Holdings II, Inc., filed separate Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 15-11062 to 15-11064) on May
15, 2015.

Mark D. Collins, Esq., and Tyler D. Semmelman, Esq., at
Richards, Layton & Finger, P.A., represent the Debtor in their
restructuring effort.  The Debtors also hired Neligan Foley LLP
as local counsel.

The Debtors estimated assets and debts at $10 million to
$50 million.

The U.S. Trustee for Region 3 appointed seven creditors to serve
on the Official Committee of Unsecured Creditors.


GRUDEN ACQUISITION: Moody's Assigns 'B2' Corporate Family Rating
----------------------------------------------------------------
Moody's Investors Service assigned a B2 Corporate Family Rating and
B2-PD Probability of Default Rating to Gruden Acquisition, Inc.,
the parent of a new entity that will be formed as a result of the
proposed transaction. Gruden Acquisition was formed to effectuate
the acquisition by Apax Partners of Quality Distribution, Inc., the
parent company of Quality Distribution, LLC. Concurrently, Moody's
rated the company's proposed $400 million first lien term loan B1
and $135 million second lien term loan Caa1. The ratings outlook is
stable.

The company intends to use the proceeds from the transaction
together with a $319 million equity contribution from Apax Partners
and its affiliates, to finance the acquisition of Quality
Distribution for approximately $800 million, including the
assumption of debt, or $16.00 per share in cash. Proceeds will also
be used to pay transaction fees and expenses and fund balance sheet
cash. As part of the transaction, the company is putting in place a
five-year (unrated) $100 million ABL revolver, undrawn at
transaction close.

All pre-existing ratings at Quality Distribution, LLC, including
the B2 CFR, remain under review for downgrade. The review was
initiated on May 8, 2015 following the acquisition announcement.
Moody's expects to withdraw all ratings at Quality Distribution
upon closing of the transaction.

The following ratings were assigned to Gruden Acquisition, Inc.
(subject to Moody's review of final documents):

Corporate Family Rating, at B2
Probability of Default Rating, at B2-PD
Proposed $400 million term loan due 2022, at B1, (LGD-3)
Proposed $135 million second lien term loan due 2023, at Caa1
(LGD-5)
Rating outlook: Stable

RATINGS RATIONALE

The B2 CFR reflects Quality Distribution's higher debt levels,
which will increase as a result of Apax's acquisition financing. As
a result, debt/EBITDA pro forma for the transaction is estimated at
5.9 times as of the twelve months ended March 31, 2015 (including
Moody's standard adjustments), which is higher than typical among
B2 rated entities in the transportation sector. As well, the
proposed transaction is expected to increase cash interest expense
by over $10 million, consuming a portion of the company's
anticipated free cash flow generation. However, Moody's expects
that the company will generate sufficient free cash flow to reduce
debt over the next twelve to eighteen months, which could lower
leverage to the 5.5 times range by 2016, more in-line with the B2
rating. Other credit metrics, such as pro forma interest coverage
(EBIT/interest) of 1.6 times, is more in line with the B2 rating
level.

The ratings favorably consider qualitative factors such as Quality
Distribution's strong position within its market niche to service
its primarily blue chip customer base that serves diverse end
markets. In particular, Moody's expects that EBITDA will continue
to grow in the company's core Chemical Logistics business
(comprising approximately 70 percent of revenues) due to healthy
demand for transportation services, augmented by contribution from
acquired affiliates. Nonetheless, despite favorable current
industry trends, Moody's believes that the company's financial
performance remains exposed to domestic economic cycles and driver
turnover in this business segment. In addition, margins in this
segment could be pressured in the near-term to support affiliate
growth and for driver recruitment and retention-related expenses.

The company also conducts its operations through its Intermodal
segment and Energy Logistics businesses. Each of these segments
comprise roughly 16 percent of total revenues, although the
Intermodal segment contributes a greater proportion of EBITDA
relative to the Energy business. The Intermodal segment focuses on
intermodal ISO tank container and depot services for the import and
export of bulk liquids. Intermodal revenue has grown recently on
improving customer demand.

Operating performance in Quality Distribution's Energy business has
lagged that of its other segments, which the company is addressing
by taking actions to streamline costs. Although the ratings
consider expectations for continued headwinds in this sector,
Moody's notes that the company has taken proactive steps to
redeploy assets to post-production rather than drilling-related
work.

The ratings incorporate the expectation of continued moderate
growth in the company's Chemical Logistics and Intermodal segments
and stabilization in the company's Energy Logistics business over
the intermediate term as the company continues efforts to redeploy
assets, affiliate more terminals and streamline costs in this
segment.

The stable outlook is based on the expectation that the company
will de-leverage over the next twelve to eighteen months through
the use of excess cash toward debt reduction while maintaining an
adequate liquidity profile.

Developments that could lower the rating include debt/EBITDA
remaining above 5.5 times or EBIT/interest falling below 1.5 times
on a sustained basis. A deterioration in the company's liquidity
profile including debt-funded shareholder dividends or leveraging
acquisitions could also exert downward pressure on the ratings.

A rating upgrade is unlikely in the intermediate term given the
highly cyclical nature of the company's business. However, ratings
could be upgraded if the company demonstrates a track record of
solid top line growth (excluding fuel surcharges), steady margins
and positive free cash flow, while sustaining debt/EBITDA at about
4.5 times and EBIT/interest coverage at about 2.0 times.

Gruden Acquisition was formed to effectuate the acquisition by Apax
Partners of Quality Distribution, Inc., the parent company Quality
Distribution, LLC. Quality Distribution is headquartered in Tampa,
Florida. The company is a transporter of bulk liquid and dry bulk
chemicals. The company is also a provider of intermodal tank
container and depot services through its wholly owned subsidiary,
Boasso America Corporation. In 2010, Quality Distribution entered
the Energy Logistics business. Revenue for the twelve months ended
March 31, 2015 approximated $988 million.



GYMBOREE CORP: Bank Debt Trades at 29% Off
------------------------------------------
Participations in a syndicated loan under which Gymboree Corp. is a
borrower traded in the secondary market at 70.95
cents-on-the-dollar during the week ended Friday, July 10, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in the July 14, 2015, edition of The Wall Street Journal.
This represents a decrease of 0.60 percentage points from the
previous week, The Journal relates. Gymboree Corp. pays 350 basis
points above LIBOR to borrow under the facility.  The bank loan
matures on February 23, 2018, and carries Moody's B3 rating and
Standard & Poor's CCC+ rating.  The loan is one of the biggest
gainers and losers among 256 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended July 10.



HEALTH DIAGNOSTIC: Judge Sets Sept. 10 as Auction Date
------------------------------------------------------
Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
reported that lawyers for Health Diagnostic Laboratory Inc. are
preparing to hold a Sept. 10 auction to sell the Virginia lab's
operations, which struggled after health regulators accused the
company of paying illegal kickbacks to physicians who send blood
samples.

According to the report, in a court order signed on July 15, Judge
Kevin Huennekens set a Sept. 4 bid deadline for potential buyers
interested in the Richmond company, which employs about 645 people
who help test for cardiovascular diseases like diabetes.

                     About Health Diagnostic

Health Diagnostic Laboratory, Inc., Central Medical Laboratory,
LLC, and Integrated Health Leaders, LLC, are health care businesses
based in Richmond, Virginia.  HDL is a blood testing company.

Health Diagnostic Laboratory, Inc. (Bankr. E.D. Va. Case No.
15-32919) and affiliates Central Medical Laboratory, LLC (Bankr.
E.D. Va. Case No. 15-32920) and Integrated Health Leaders, LLC
(Bankr. E.D. Va. Case No. 15-32921) filed separate Chapter 11
bankruptcy petitions on June 7, 2015, estimating their assets at
between $100 million and $500 million and their debts at between
$100 million and $500 million.  The petitions were signed by Martin
McGahan, chief restructuring officer.

Justin F. Paget, Esq., Tyler P. Brown, Esq., Jason W. Harbour,
Esq., and Henry P. (Toby) Long, III, Esq. At Hunton & Williams LLP
serve as the Debtors' bankruptcy counsel.  Alvarez & Marsal is the
Debtors' financial advisor.  Robert S. Westermann, Esq., at
Hirshler Fleisher, P.C., serve as the Debtors' conflicts counsel.
American Legal Claims Services, LLC, is the Debtors' claims,
noticing and balloting agent.


HII TECHNOLOGIES: In Default Under Senior Loan Facility Agreements
------------------------------------------------------------------
HII Technologies, Inc. on July 15 disclosed that it received notice
from Heartland Bank that it is in default under the loan agreements
for its senior secured credit facility, which consists of a $12
million 3-year term loan and a $6.6 million account purchase
agreement.  This default could lead to a mandated acceleration of
repayment of the $11.46 million of indebtedness currently
outstanding under this facility, of which approximately $9.2
million is outstanding under the term loan and approximately $2.26
million is outstanding under the account purchase agreement, net of
the $1.09 million held in reserve.

While Heartland Bank has not moved to enforce the acceleration of
repayment of the Company's indebtedness at this time, it has
suspended any obligation to advance additional funds for the
purchase of receivables under the account purchase agreement.  HII
Technologies and Heartland Bank are engaged in discussions to
address the default notices and underlying loans.

HII Technologies will provide an update as more information becomes
available.

                  About HII Technologies, Inc.

HII Technologies, Inc. -- http://www.HIITinc.com-- is a Houston,
Texas based, oilfield services company focused on frac water
management, including water transfer and produced water flowback
services, in the Southwest United States.  The Company also
provides emerging water-related Clean Tech cost-saving solutions to
the industry.


HOSTESS HOLDCO: S&P Affirms 'B' CCR & Rates Secured Loans 'B+'
--------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Kansas City, Mo.-based Hostess Holdco LLC.  The
outlook is stable.

At the same time, S&P assigned 'B+' issue-level ratings to the
company's $100 million revolving credit facility due 2020, undrawn
at close, and $825 million first-lien term loan due 2022.  The '2'
recovery rating indicates S&P's expectation of substantial (70% to
90%) recovery, at the higher half of the range, in the event of
payment default.  S&P also assigned a 'CCC+' issue-level rating to
the company's proposed $400 million second-lien facility due 2023.
The '6' recovery rating indicates S&P's expectation of negligible
(0% to 10%) recovery in the event of payment default.

"The ratings affirmation reflects our view that Hostess can support
the substantially higher debt leverage resulting from the proposed
financing because of its demonstrated ability to grow its revenue,
EBITDA, and overall cash flows since its relaunch of the business
during July 2013," said Standard & Poor's credit analyst Bea
Chiem.

The company expects to use proceeds from the debt offering to fund
a $905 million dividend to existing shareholders, refinance its
$344 million first lien term loan, and pay fees and expenses.  At
the close of the transaction, S&P estimates that Hostess will have
$1.225 billion of funded debt outstanding.  S&P will withdraw the
ratings on the company's existing term loan after the deal closes.



IMRIS INC: Court OKs Bidding Procedures; Bid Deadline Is Today
--------------------------------------------------------------
The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court for
the District of Delaware approved IMRIS, Inc., et al.'s procedures
in connection with the sale of substantially all of the Debtors'
assets.

A copy of the approved bidding procedures is available for free
at http://is.gd/bo9iGG

The bid deadline is July 17, 2015, at 5:00 p.m. (prevailing Eastern
Time).  The auction, if necessary, will be held on July 21, 2015,
at 10:00 a.m. (Eastern).  A hearing on the sale is set for July 24,
2015, at 10:00 a.m. (prevailing Eastern Time).  Objections to the
sale must be filed by July 23, 2015, at 4:00 p.m. (prevailing
Eastern Time).  If any counterparty to an assumed executory
contract objects for any reason to the assumption and assignment of
a contract, the objection must be filed by 4:00 p.m. (prevailing
Eastern Time) on July 23, 2015.

If the bid is for all or substantially all of the assets, it must
be greater than or equal to the sum of the value offered under the
stalking horse agreement and $100,000.  If the bid is for less than
all or substantially all of the assets, it must be greater than or
equal to the sum of the value offered under the stalking horse
agreement for the assets sought in the bid plus the $100,000
overbid amount.

The Debtors entered into that an asset purchase agreement, dated
May 25, 2015, with Deerfield Acquisition Corp., the stalking horse
purchaser.

The Stalking Horse Purchaser holds a security interest in the
offered assets and has submitted a credit bid for the assets.  It
may submit additional credit bids for the assets as it deems
necessary.

Andrew R. Vara, Acting United States Trustee for Region 3, stated
in his objection dated June 16, 2015 -- a copy of which is
available for free at http://is.gd/njIkQK-- that the stalking
horse bid is for a purchase price of $9.50 million, all of which is
a credit bid.  The U.S. Trustee said that the Debtors' sale motion,
filed on May 25, 2015, sought a breakup fee of $100,000 and an
expense reimbursement of up to $1 million.

The U.S. Trustee complained in his objection that the Debtors'
motion did not describe the pre-petition process leading to the
selection of the Stalking Horse Purchaser or other efforts to
market the assets.  

The U.S. Trustee said that the Stalking Horse Purchaser, in its
capacity as prepetition lender, is already entitled to receive
reimbursement of all its professional fees.

The U. S. Trustee objected to the Debtors' proposed breakup fee and
expense reimbursement in as much as the Stalking Horse Purchaser is
the Debtors' prepetition secured lender and DIP lender.  As the
Debtors' lender, the Stalking Horse Purchaser does not need a
breakup fee or expense reimbursement to induce it to become a
bidder, the U.S. Trustee complained.  According to the U.S.
Trustee, the proposed breakup fee and expense reimbursement are
interposed here primarily to chill bidding.

The U.S. Trustee added that the Debtors did not file their
schedules of assets and liabilities and statements of financial
affairs with their petitions, and have obtained an extension of
time through July 13, 2015, to file these required documents.

                     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) ETSâˆ'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.


INT'L MANUFACTURING: Can Use Cash Collateral in Rabobank Account
----------------------------------------------------------------
A federal judge has authorized the bankruptcy trustee of
International Manufacturing Group Inc. to use funds held in a
blocked account in Rabobank NA.

U.S. Bankruptcy Judge Robert Bardwil signed off on an order
allowing the trustee to use the funds generated by the sale of the
company's medical, dental and tattoo supply business until March
31, 2016.

Judge Bardwil ordered Rabobank to unblock the account, which
currently has over $612,000.  

A copy of the court order is available without charge at
http://is.gd/HfMTyg

The bankruptcy trustee will use the funds to pay administrative
claims, including professional fees and other expenses, pursuant to
a proposed budget.

Those holding unrecorded liens on the assets sold won't get
"adequate protection" since those liens have been estimated at zero
for "cash collateral purposes," according to a separate order
issued by Judge Bardwil.    

               About International Manufacturing

Deepal Wannakuwatte, the mastermind of a $150 million Ponzi scheme,
put himself and his company, International Manufacturing Group
Inc., into Chapter 11 after he pleaded guilty to one count of wire
fraud and agreed to a 20-year prison sentence.  The bankruptcy
filing was part of his plea bargain with federal prosecutors.  Mr.
Wannakuwatte is the former owner of the Sacramento Capitols tennis
team.

Mr. Wannakuwatte initiated his personal Chapter 11 case on May 30,
2014.  Hank Spacone was appointed as trustee for Wannakuwatte's
Chapter 11 estate.  Betsy Kathryn Wannakuwatte and Sarah Kathryn
Wannakuwatte also have pending Chapter 7 cases.

Mr. Wannakuwatte also submitted a Chapter 11 bankruptcy petition
for IMG on May 30, 2014 (Bankr. E.D. Cal. Case No. 14-25820) in
Sacramento.  The case is assigned to Judge Robert S. Bardwil.
The Debtor tapped Marc A. Caraska, in Sacramento, as counsel.  

In June 2014, Beverly N. McFarland was appointed as Chapter 11
trustee for IMG.  She tapped Felderstein Fitzgerald Willoughby &
Pascuzzi LLP as her bankruptcy counsel; Diamond McCarthy LLP as her
special litigation counsel; Gabrielson & Company as accountant; and
Karen Rushing as bookkeeper outside the ordinary course of
business.  

The U.S. Trustee for Region 7 appointed a three-member unsecured
creditors panel in IMG's case comprising of Byron Younger, Janine
Jones, and Steve Whitesides.


INTEGRATED FREIGHT: Files Deficient Form 10-K with SEC
------------------------------------------------------
Integrated Freight Corporation filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing net
income of $284,000 on $18.9 million of revenue for the year ended
March 31, 2015, compared to a net loss of $1.40 million on $20.2
million of revenue for the year ended March 31, 2014.

As of March 31, 2015, the Company had $3.80 million in total
assets, $14.8 million in total liabilities, and a $10.9 million
total stockholders' deficit.

                           Auditor Resigns

DKM Certified Public Accountants of Clearwater, Florida, resigned
as the Company's independent public accountant as of
July 10, 2015.

During the fiscal years ended March 31, 2014, and 2013, and for the
interim periods through July 10, 2015, the Company said it has had
no disagreements with DKM on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or
procedure.

The reports of DKM on the Company's financial statements for the
past two fiscal years, did not contain an adverse opinion or a
disclaimer of opinion and were not qualified or modified as to
uncertainty, audit scope, or accounting principles, except that
substantial doubt was raised as to the Company's ability to
continue as a going concern.  

The Company has engaged Stevenson & Company CPAS LLC of Tampa,
Florida, as its new auditor, but as a consequence of the timing of
these transactions, the Company has not been able to have the
auditor complete the audit of the financial statements for the year
ended March 31, 2015.

"The Company understands that the staff of the Securities and
Exchange Commission has taken the position that this report is
deficient because the annual financial statements contained in this
report for the year ended March 31, 2015, have not been audited by
an independent registered public accountant as required by Rule
10-01(d) of Regulation S-X.  Pursuant to the position taken by the
staff, the Company is deemed not to be current in its filings
required under the Securities Exchange Act of 1934, as amended.  

"The Company understands that completion of an audit of its annual
financial statements and the filing of an amendment will make this
report current, although it will not be deemed timely for purposes
of the rules governing eligibility to use registration statements
on Forms S-2 and S-3.  When the audit is complete, the Company will
file an amendment to this report which will include the required
certifications of the Company's Principal Executive Officer and
Principal Financial and Accounting Officer as required by Sections
302 and 906 of the Sarbanes-Oxley Act," the Company said in the SEC
filing.

A copy of the Form 10-K is available at http://is.gd/ho1bCp

                     About Integrated Freight

Integrated Freight Corporation, formerly PlanGraphics, Inc., (OTC
BB: IFCR) -- http://www.integrated-freight.com/-- is a Sarasota,
Florida headquartered motor freight company providing long-haul,
regional and local service to its customers.  The Company
specializes in dry freight, refrigerated freight and haz-waste
truckload services, operating primarily in well-established
traffic lanes in the upper mid-West, Texas, California and the
Atlantic seaboard.  IFCR was formed for the purpose of acquiring
and consolidating operating motor freight companies.

Integrated Freight reported a net loss of $1.43 million on $20.2
million of revenue for the year ended March 31, 2014, compared with
net income of $4.81 million on $20.1 million of revenue for the
year ended March 31, 2013.

As of Dec. 31, 2014, the Company had $4.30 million in total assets,
$16.7 million in total liabilities, and a $12.4 million total
stockholders' deficit.

DKM Certified Public Accountants, in Clearwater, Florida, issued a
"going concern" qualification on the consolidated financial
statements for the year ended March 31, 2014, citing that the
Company has significant net losses and cash flow deficiencies.
Those conditions raise substantial doubt about the Company's
ability to continue as a going concern.


J. CREW: Debt Trades at 14% Off
-------------------------------
Participations in a syndicated loan under which J. Crew is a
borrower traded in the secondary market at 86.43 cents-on-the-
dollar during the week ended Friday, July 10, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
the July 14, 2015 edition of The Wall Street Journal.  This
represents an increase of 0.20 percentage points from the previous
week, The Journal relates. J. Crew pays 300 basis points above
LIBOR to borrow under the facility.  The bank loan matures on
February 27, 2021, and carries Moody's B2 rating and Standard &
Poor's B- rating.  The loan is one of the biggest gainers and
losers among 256 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended July 10.



JETBLUE AIRWAYS: Moody's Hikes Corporate Family Rating to 'Ba3'
---------------------------------------------------------------
Moody's Investors Service upgraded the debt ratings of JetBlue
Airways, Corp., including the Corporate Family Rating to Ba3, the
Probability of Default rating to Ba3-PD and the G1 and G2 tranches
of the company's Series 2004-2 Enhanced Equipment Trust Certificate
(EETC) to Baa3 from Ba2. Moody's also affirmed the Speculative
Grade Liquidity Assessment at SGL-2. The outlook is stable. This
action concludes the review for upgrade initiated on 16 June 2015
following the implementation of Moody's change to its approach for
standard adjustments for operating leases.

RATINGS RATIONALE

"The upgrade to Ba3 reflects Moody's view that industry
fundamentals will remain favorable through at least 2016, allowing
JetBlue to maintain competitive, if not leading, traffic and unit
revenue performance as it grows its capacity by more than 6%
annually," said Senior Credit Officer, Jonathan Root. Credit
metrics have meaningfully improved, with Debt to EBITDA of 2.7
times and EBIT to interest of 3.3 times at 31 March 2015. Moody's
anticipates these metrics will strengthen through 2015 as the
company's cost of jet fuel remains below $2.25 per gallon and the
company's network remains attractive, supporting relatively
favorable unit revenues. Initiatives such as the expansion of the
company's premium service, MINT to its focus city, Boston; the
introduction of its new pricing structure, "Fare Options" and
starting in 2016, increasing seat density across the Airbus fleet
should drive revenue and margin expansion, further supporting
operating cash flow in upcoming periods.

The action also considers the decline in financial risk that
accompanies the debt reduction that JetBlue has achieved since 2013
and the benefit of lower adjusted debt with Moody's revised lease
multiple, now at five times for the airline industry. The decline
in debt provides significant cushion for credit metrics to absorb
potentially significant increases in the cost of jet fuel, or a
decline in demand with no noticeable increase in fuel cost. Moody's
debt adjustment now stands at $1.5 billion, down from $2.4 billion,
providing a 0.7 times reduction in Debt-to-EBITDA to 3.7 times at
2014 year end. Moody's expects adjusted debt of about $4.0 billion
at the end of 2015, and a further reduction in 2016, taking Debt to
EBITDA below 2.5 times at the end of 2015 and possibly lower in
2016.

The stable outlook reflects Moody's expectation of sustained demand
for US domestic air travel and a continuing focus by JetBlue on
achieving targeted returns on invested capital, which should allow
the company to sustain the recent improvements in credit metrics.
The stable outlook also reflects Moody's view of JetBlue's smaller
scale and more limited network relative to those of the larger US
airlines, Delta, American, United and Southwest, notwithstanding
the strength of its credit metrics.

The ratings could be upgraded if JetBlue sustains its metrics
profile and maintains good liquidity, particularly while the cost
of oil rises or industry demand weakens. Sustaining Debt to EBITDA
and EBIT to Interest below 3.0 times and above 4.0 times,
respectively could support an upgrade as could sustaining free cash
flow above $500 million per year, which is used to further reduce
funded debt. Demonstrating a commitment to containing financial
risk, by prioritizing debt reduction before repurchasing shares in
amounts that more than offset dilution from exercises of stock
options or puts of the company's remaining convertible debt
securities would be an important consideration for any possible
upgrade. The ratings could be downgraded it unrestricted cash falls
below $500 million or Moody's expects free cash flow that
approaches breakeven. Debt-funding of share repurchases could also
lead to a downgrade, as could Debt to EBITDA above 4.5 times, EBIT
to Interest below 2.0 times, or an EBITDA margin of less than 16%.
Increased competition in its Caribbean franchise could pressure
traffic and unit revenue performance, inciting pressure on margins
and operating cash flow. While not expected, the creation of a hub
in Boston or Fort Lauderdale by a larger competitor could also
pressure the rating as could the inability to grow revenues to help
offset pressure on operating margins that the agreed-upon aggregate
increase in pilot pay of 20% through 2016 will exert.

JetBlue Airways Corp., based in Long Island City, New York,
operates a low-cost, point-to-point airline from its primary focus
city at New York's John F. Kennedy airport. JetBlue serves 90
cities with an average of 875 daily flights.



JW RESOURCES: Seeks to Employ David Stetson as Senior Consultant
----------------------------------------------------------------
JW Resources, Inc., and its affiliated debtors seek authority from
the U.S. Bankruptcy Court for the Eastern District of Kentucky to
employ David Stetson as senior consultant to perform the following
services:

   (a) Assist the Debtors and their professionals to design and
implement a process for the sale of the Debtors' assets;

   (b) Make recommendations on business decisions for the Debtors
in connection with the Debtors' operations, business strategies,
contracts and commitments, and other associated operations of the
Debtors;

   (c) Review initial and final bids for the Debtors' assets;

   (e) Negotiate sale and purchase agreements with support of the
Debtors and their professionals; and

   (f) Testify at any hearings before this Court on the sale
process and any proposed sale of the Debtors' assets.

Paige L. Ellerman, Esq., at Frost Brown Todd LLC, in Cincinnati,
Ohio, tells the Court that Mr. Stetson's depth of experience in
business reorganizations, mergers and acquisitions and financial
management and his familiarity with the Debtors and the coal
industry makes him uniquely qualified to deal effectively with the
issues that may arise in the context of the Debtors' Chapter 11
cases.  Mr. Ellerman believes that Mr. Stetson is well qualified to
serve as the Debtors' Senior Consultant and that his retention is
in the best interests of the estates.  She adds that Mr. Stetson's
services are necessary to enable and assist the Debtors in
performing their duties as debtors and debtors-in-possession
relating to the valuation, marketing and sale of the Debtors'
assets.

The Debtors will compensate Mr. Stetson by paying a consulting fee
of $50,000 per month, payable once every two weeks in advance and
reimbursing him for reasonable out-of-pocket expenses incurred and
paid during the term of the Senior Consulting Agreement.  Mr.
Stetson will also be paid a commission of 1.5% of the proceeds of
all equipment sales, net of auctioneer fees.

Mr. Stetson assures the Court that (a) he does not hold or
represent any interest adverse to the Debtors; (b) has no
connection with the Debtors, any of the Debtors' subsidiaries or
affiliates, any creditors of the Debtors, or any other party in
interest in the Chapter 11 Cases, or their attorneys, accountants
and advisors; and (c) is not so connected with any bankruptcy judge
of the Eastern District of Kentucky or the United States Trustee
for the Eastern District of Kentucky or any assistant United States
Trustee assigned to the case.

The Debtors are represented by:

          Ronald E. Gold, Esq.
          Douglas L. Lutz, Esq.
          Paige L. Ellerman, Esq.
          FROST BROWN TODD LLC
          3300 Great American Tower
          301 East Fourth Street
          Cincinnati, OH 45202
          Telephone: (513)651-6800
          Facsimile: (513)651-6981
          Email: rgold@fbtlaw.com
                 dlutz@fbtlaw.com
                 pellerman@fbtlaw.com

             -- and --

          Adam R. Kegley, Esq.
          FROST BROWN TODD LLC
          250 West Main Street, Suite 2800
          Lexington, KY 40507
          Telephone: (859)231-0000
          Email: akegley@fbtlaw.com

                      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.



KIRKLAND BROS: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Kirkland Bros., Inc.
        PO Box 1392
        Odessa, TX 79760

Case No.: 15-70099

Chapter 11 Petition Date: July 15, 2015

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

Judge: Hon. Ronald B. King

Debtor's Counsel: David D. Ritter, Esq.
                  RITTER LEGAL, PLLC
                  1255 W. 15th Street, Suite 805
                  Plano, TX 75075
                  Tel: 214-532-6813
                  Fax: 214-935-1779
                  Email: dritter@ritter-legal.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Lura Kirkland, president.

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


LEARFIELD COMMUNICATIONS: S&P Retains 'B+' Rating on 1st Lien Loan
------------------------------------------------------------------
Standard & Poor's Ratings Services said its rating on Plano,
Texas-based Learfield Communications Holdings Inc.'s first-lien
term loan remains 'B+', with a recovery rating of '2', following
the company's increase of the first-lien term loan to $328 million
from $320 million.  The '2' recovery rating reflects S&P's
expectation for substantial (70% to 90%; lower half of the range)
recovery for lenders in a payment default.

The 'B' corporate credit rating and stable outlook on Learfield
also remain unchanged.  The issue-level rating on the company's
senior secured second-lien term loan remains 'CCC+', with a
recovery rating of '6', indicating S&P's expectation for negligible
recovery (0%-10%) for lenders in the event of a payment default.

Learfield plans to use incremental net proceeds to repay revolver
borrowings that it used for a tuck-in acquisition and for fees and
expenses.

RECOVERY ANALYSIS

Key Analytical Factors:

   -- S&P's recovery ratings on Learfield's first-lien and second-
      lien credit facilities remain '2' and '6', respectively.

   -- S&P's simulated default scenario contemplates a payment
      default in 2018, reflecting a significant decline in cash
      flow as a result of slower growth in sponsorship revenues
      due to economic weakness, the inability to cover minimum
      rights-fee guarantees on some of the company's contracts,
      and unsuccessful acquisitions.

   -- S&P assumes a reorganization following the default, using an

      emergence EBITDA multiple of 6x to value the company.

Simulated Default Assumptions:

   -- Year of default: 2018
   -- EBITDA at emergence: $45 million
   -- EBITDA multiple: 6x

Simplified Waterfall:

   -- Net enterprise value (after 5% admin. costs): $257 million
      ------------------------------------------------------
   -- Secured debt (first-lien): $360 million
      --Recovery expectation: 70% to 90% (lower half of the range)
   -- Secured debt (second-lien): $110 million
      --Recovery expectation: 0% to 10%

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

RATINGS LIST

Learfield Communications Holdings Inc.
Corporate Credit Rating                 B/Stable/--
  $328 million first-lien term loan
  Senior Secured                         B+
   Recovery Rating                       2L



LIFE PARTNERS: Trustee Hires Consultant; CEO Objects
----------------------------------------------------
H. Thomas Moran II, as chapter 11 trustee for Life Partners
Holdings, Inc., and as the sole director of Life Partners, Inc. and
LPI Financial Services, Inc., asks the U.S. Bankruptcy Court for
the Northern District of Texas for permission to employ Asset
Servicing Group as his consultant, nunc pro tunc to March 13,
2015.

ASG will perform these consulting services, among other things:

   a. overseeing portfolio and policy management, including
training of and assisting the Debtor's employees regarding industry
standards and appropriate premium management;

   b. consulting in connection with the analysis of underfunded,
overfunded, and lapsed policies to assist in the due diligence
efforts associated with evaluating various plans and
investigations; and

   c. gathering and analyzing data regarding the policies' value
and viability.

The hourly rates of ASG employees expected to perform services
are:

         Sheri Townsend                     $180
         Erin Maxwell                       $145
         Ron Kreiter                        $145
         Josh Conner                        $145
         Tim Harder                         $145
         Pamela Harden                      $145
         Lisa Harrell                        $90
         Christie Reid                       $90
         Joyce Brearton                      $90

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

Brian D. Pardo, president and CEO, objected to the trustee's
application to employ ASG stating that the trustee has devoted his
entire career to the insurance industry.  Upon information and
belief Mr. Moran runs an Oklahoma limited liability company called
Asset Servicing Group, LLC, but nothing concerning the corporate
entity designation is set forth in the declaration.

                       About Life Partners

Headquartered in Waco, Texas, Life Partners Holdings, Inc. --
http://www.lphi.com/-- is the parent company engaged in the   
secondary market for life insurance, commonly called "life
settlements."  Since its incorporation in 1991, Life Partners,
Inc., has completed over 162,000 transactions for its worldwide
client base of over 30,000 high net worth individuals and
institutions in connection with the purchase of over 6,500 policies
totaling over $3.2 billion in face value.

LPHI is a publicly traded company incorporated in Texas and its
common stock has been delisted from the NASDAQ (formerly trading
under the symbol LPHI).

Life Partners Holdings sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 15-40289) on Jan. 20,
2015.

The case is assigned to Judge Russell F. Nelms.  J. Robert Forshey,
Esq., at Forshey & Prostok, LLP, serves as counsel to the Debtor.

LPHI disclosed $2,406,137 in assets and $52,722,308 in liabilities
as of the Chapter 11 filing.

The official committee of unsecured creditors formed in the case
tapped Munsch Hardt Kopf & Harr, P.C., as counsel.

Tracy A. Bolt of BDO USA, LLP, was named as examiner for the
Debtor's case.  At the behest of the U.S. Securities and Exchange
Commission, the U.S. Trustee, and the Creditors Committee, the
Court ordered the appointment of a Chapter 11 trustee.  On March
13, 2015, H. Thomas Moran II was appointed as Chapter 11 trustee in
LPHI's case.  The trustee is represented by Thompson & Knight LLP.

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



LIFE PARTNERS: Trustee Taps Phillips Murrah for Life Settlements
----------------------------------------------------------------
Thomas Moran II, as Chapter 11 trustee for Life Partners Holdings,
Inc., and as the sole director of Life Partners, Inc. and LPI
Financial Services, Inc., asks the U.S. Bankruptcy Court for the
Northern District of Texas Life Partners Holdings Inc. for
permission to employ Phillips Murrah, P.C. as his and the
Subsidiary Debtors' special counsel, nunc pro tunc to March 19,
2015.

The trustee scheduled July 30, 2015 hearing at 9:30 a.m., on the
matter.

The firm will, among other things:

   a. advise the trustee with respect to life settlements and
viatical policies and insurance-related issues, including policy
sales, and taking such actions with respect to insurance-related
matters as the Trustee deems appropriate;

   b. administer claims, including review of the nature, priority,
validity and enforceability of claims against the estate and
pursuing claim objections, when warranted; and

   c. advise the trustee concerning litigation and actions he might
take to collect and to recover property for the benefit of the
bankruptcy estate, including the assessment and prosecution of
avoidance and other causes of action the estate may hold.

The hourly rates charged by PM are:

         Professional                            Fee Range
         ------------                            ---------
         Directors                              $230 - $425
         Associates                             $175 - $240
         Paralegals                                $100

PM has agreed it will seek reimbursement of expenses advanced
during the course of its representation of the trustee and the
Subsidiary Debtors in accordance with its customary and usual
practices.  PM will maintain detailed records of any actual and
necessary or appropriate costs and expenses incurred in connection
with the legal services it provides to the trustee.

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

                       About Life Partners

Headquartered in Waco, Texas, Life Partners Holdings, Inc. --
http://www.lphi.com/-- is the parent company engaged in the   
secondary market for life insurance, commonly called "life
settlements."  Since its incorporation in 1991, Life Partners,
Inc., has completed over 162,000 transactions for its worldwide
client base of over 30,000 high net worth individuals and
institutions in connection with the purchase of over 6,500 policies
totaling over $3.2 billion in face value.

LPHI is a publicly traded company incorporated in Texas and its
common stock has been delisted from the NASDAQ (formerly trading
under the symbol LPHI).

Life Partners Holdings sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 15-40289) on Jan. 20,
2015.

The case is assigned to Judge Russell F. Nelms.  J. Robert Forshey,
Esq., at Forshey & Prostok, LLP, serves as counsel to the Debtor.

LPHI disclosed $2,406,137 in assets and $52,722,308 in liabilities
as of the Chapter 11 filing.

The official committee of unsecured creditors formed in the case
tapped Munsch Hardt Kopf & Harr, P.C., as counsel.

Tracy A. Bolt of BDO USA, LLP, was named as examiner for the
Debtor's case.  At the behest of the U.S. Securities and Exchange
Commission, the U.S. Trustee, and the Creditors Committee, the
Court ordered the appointment of a Chapter 11 trustee.  On March
13, 2015, H. Thomas Moran II was appointed as Chapter 11 trustee in
LPHI's case.  The trustee is represented by Thompson & Knight LLP.

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


LIFE PARTNERS: Trustee Taps Smith Jackson as Special Tax Consultant
-------------------------------------------------------------------
H. Thomas Moran II, as Chapter 11 trustee for Life Partners
Holdings, Inc., and as the sole director of Life Partners, Inc.,
and LPI Financial Services, Inc. (the subsidiary Debtors), asks the
U.S. Bankruptcy Court for the Northern District of Texas for
permission to employ Smith, Jackson, Boyer & Bovard PLLC as Special
Tax Consultant to the Trustee and as special tax consultant to the
Subsidiary Debtors.

SJBB will, among other things:

   a) prepare LPHI's and LPI's 2014 federal and state tax returns;

   b) provide accounting and bookkeeping assistance related to
taxes; and

   c) provide assistance with a Texas Franchise Tax Audit for
2011-2014.

SJBB will perform the tax management and preparation services
through these employees:

   a. Homer Brown, director, will oversee SJBB's tax management and
preparation services and will be primarily responsible for the
preparation of tax returns, providing accounting and bookkeeping
assistance, and assisting with the Franchise Tax Audit;

   b. Cathy Mason, tax manager, will assist with the preparation of
tax returns, accounting and bookkeeping, and the Franchise Tax
Audit;

   c. Deborah Pritchard, tax manager, will assist with the
preparation of tax returns, accounting and bookkeeping, and the
Franchise Tax Audit; and

   d. Cindy Brown will assist with the administration of the
preparation of tax returns, the accounting and bookkeeping, and the
Franchise Tax Audit.

The hourly rates of SJBB employees expected to perform financial
advisory services are:

         Mr. Brown                         $240
         Ms. Mason                         $150
         Ms. Pritchard                     $165
         Ms. Brown                          $87

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

In the application, the trustee stated that no hearing will be
conducted unless a written response is filed with the Clerk of the
U.S. Bankruptcy Court at 501 W. 10th Street, Room. 147, Fort
Worth, TX 76102-3643 by July 17, 2015.

                       About Life Partners

Headquartered in Waco, Texas, Life Partners Holdings, Inc. --
http://www.lphi.com/-- is the parent company engaged in the   
secondary market for life insurance, commonly called "life
settlements."  Since its incorporation in 1991, Life Partners,
Inc., has completed over 162,000 transactions for its worldwide
client base of over 30,000 high net worth individuals and
institutions in connection with the purchase of over 6,500 policies
totaling over $3.2 billion in face value.

LPHI is a publicly traded company incorporated in Texas and its
common stock has been delisted from the NASDAQ (formerly trading
under the symbol LPHI).

Life Partners Holdings sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 15-40289) on Jan. 20,
2015.

The case is assigned to Judge Russell F. Nelms.  J. Robert Forshey,
Esq., at Forshey & Prostok, LLP, serves as counsel to the Debtor.

LPHI disclosed $2,406,137 in assets and $52,722,308 in liabilities
as of the Chapter 11 filing.

The official committee of unsecured creditors formed in the case
tapped Munsch Hardt Kopf & Harr, P.C., as counsel.

Tracy A. Bolt of BDO USA, LLP, was named as examiner for the
Debtor's case.  At the behest of the U.S. Securities and Exchange
Commission, the U.S. Trustee, and the Creditors Committee, the
Court ordered the appointment of a Chapter 11 trustee.  On March
13, 2015, H. Thomas Moran II was appointed as Chapter 11 trustee in
LPHI's case.  The trustee is represented by Thompson & Knight LLP.

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


LIFE PARTNERS: Trustee Wins Nod for Thompson & Knight as Counsel
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized H. Thomas Moran II, Chapter 11 trustee for Life Partners
Holdings, Inc., to employ Thompson & Knight LLP as his counsel and
for the subsidiary debtors, nunc pro tunc to March 13, 2015.

The Trustee, in his motion as the sole director of Life Partners,
Inc. and LPI Financial Services, Inc., requested for authorization
to amend the governing documents and to file voluntary chapter 11
petitions for the Debtor's subsidiaries.

T&K current hourly rates are expected to be within these ranges:

         Partners                   $515 - $870
         Associates                 $280 - $515
         Paraprofessionals          $140 - $280

These partners are expected to have primary responsibility for
providing the services to the trustee:

         David Bennett                  $845
         Katharine Battaia Clark        $545
         Jennifer Ecklund               $545
         Richard Roper                  $695

T&K's policy is also to charge its clients only the amount actually
incurred by T&K in connection with the services.

To the best of the trustee's knowledge, T&K is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Brian D. Pardo, president, pro se, has filed an emergency motion in
opposition to trustee's motion to employ Thompson & Knight, stating
that Thompson & Knight did not fully disclose its connection with
the parties-in-interest in the case, including the Securities and
Exchange Commission, and the Texas State Securities Board.  T&K has
a practice devoted to SEC receiverships.

The firm can be reached at:

         David M. Bennett, Esq.
         Richard Roper, Esq.
         Katharine Battaia Clark, Esq.
         THOMPSON & KNIGHT LLP
         1722 Routh Street, Suite 1500
         Dallas, TX 75201
         Tel: (214) 969-1700
         Fax: (214) 969-1751
         E-mail: david.bennett@tklaw.com
                 richard.roper@tklaw.com
                 katie.clark@tklaw.com

                       About Life Partners

Headquartered in Waco, Texas, Life Partners Holdings, Inc. --
http://www.lphi.com/-- is the parent company engaged in the   
secondary market for life insurance, commonly called "life
settlements."  Since its incorporation in 1991, Life Partners,
Inc., has completed over 162,000 transactions for its worldwide
client base of over 30,000 high net worth individuals and
institutions in connection with the purchase of over 6,500
policies
totaling over $3.2 billion in face value.

LPHI is a publicly traded company incorporated in Texas and its
common stock has been delisted from the NASDAQ (formerly trading
under the symbol LPHI).

Life Partners Holdings sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 15-40289) on Jan. 20,
2015.

The case is assigned to Judge Russell F. Nelms.  J. Robert Forshey,
Esq., at Forshey & Prostok, LLP, serves as counsel to the Debtor.


LPHI disclosed $2,406,137 in assets and $52,722,308 in liabilities
as of the Chapter 11 filing.

The official committee of unsecured creditors formed in the case
tapped Munsch Hardt Kopf & Harr, P.C., as counsel.

Tracy A. Bolt of BDO USA, LLP, was named as examiner for the
Debtor's case.  At the behest of the U.S. Securities and Exchange
Commission, the U.S. Trustee, and the Creditors Committee, the
Court ordered the appointment of a Chapter 11 trustee.  On March
13, 2015, H. Thomas Moran II was appointed as Chapter 11 trustee in
LPHI's case.  The trustee is represented by Thompson & Knight LLP.

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



LOCAL CORPORATION: Lender Seeks Additional Adequate Protection
--------------------------------------------------------------
Fast Pay Partners LLC asks the United States Bankruptcy Court for
Central District of California – Santa Ana Division to require
Local Corporation to provide adequate protection in line with the
Debtor's use of Fast Pay's cash collateral.

Fast Pay wants the Debtor to provide adequate protection by (i)
valuing Fast Pay's secured claim and (ii) establishing the extent,
validity, and priority of Fast Pay's lien against the following
property/collateral held by the Debtor.  Fast Pay asserts that it
entitled to a determination that it holds an allowed and fully
secured claim in the amount of $2,156,049, plus fees and charges
that continue to accrue under the terms of the parties' prepetition
financing and security agreement.  Fast Pay also asserts that is
entitled to a determination that its Lien validly attaches to the
Collateral to secure its claim, with first priority as to the
Collateral, subject only to the security interest, if any, that
Hewlett-Packard Financial Services Company holds in the Debtor's
computer equipment and software.

The Debtor is authorized to use the cash collateral through July 9,
2015, in an amount not to exceed $1.0 million.

Fast Pay is represented by:

         Scott H. Siegel, Esq.
         Lori E. Eropkin, Esq.
         LEVINSON ARSHONSKY & KURTZ, LLP
         15303 Ventura Blvd., Suite 1650
         Sherman Oaks, CA 91403
         Tel: 818 382-3434
         Fax: 818 382-3433
         E-Mail: ssiegel@laklawyers.com
                 leropkin@laklawyers.com

                       About Local Corporation

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

The Company reported a net loss of $5.50 million on $83.1 million
of revenue for the year ended Dec. 31, 2014, compared with a net
loss of $10.4 million on $94.4 million of revenue in the prior
year. The Company's balance sheet at March 31, 2015, showed $36.8
million in total assets, $25.7 million in total liabilities, and
stockholders' equity of $11.2 million.

Local Corp. filed a Chapter 11 bankruptcy petition (Bankr. C.D.
Cal. Case No. 15-13153) in Santa Ana, California, on June 23,
2015.

The case is assigned to Judge Scott C Clarkson. The Debtor tapped
Winthrop Couchot as counsel.


LOCATION BASED: Reports $813,700 Net Loss for Third Quarter
-----------------------------------------------------------
Location Based Technologies, Inc. filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $813,774 on $551,871 of total net revenue for the
three months ended May 31, 2015, compared to a net loss of $1.5
million on $455,139 of total net revenue for the same period in
2014.

For the nine months ended May 31, 2015, the Company reported a net
loss of $2.8 million on $1.5 million of total net revenue compared
to a net loss of $3.9 million on $1.2 million of total net revenue
for the same period last year.
As of May 31, 2015, the Company had $2.1 million in total assets,
$14.3 million in total liabilities and a $12.2 million total
stockholders' deficit.

"We have not attained profitable operations and are dependent upon
obtaining financing to pursue any extensive acquisitions and
activities.  For these reasons, our auditors stated in their report
on our audited financial statements that they have substantial
doubt that we will be able to continue as a going concern without
further financing," the Company stated in the filing.

A copy of the Form 10-Q is available at http://is.gd/R2smyO

                 About Location Based Technologies

Irvine, Calif.-based Location Based Technologies, Inc., designs,
develops, and sells leading-edge personal locator devices and
services.

Location Based reported a net loss of $5.14 million for the year
ended Aug. 31, 2014, compared to a net loss of $11.04 million for
the year ended Aug. 31, 2013.

As of Feb. 28, 2015, Location Based had $2.24 million in total
assets, $14.3 million in total liabilities, and a $12.02 million
total stockholders' deficit.

Friedman LLP, in East Hanover, New Jersey, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Aug. 31, 2014, citing that the Company's
operating losses raise substantial doubt about its ability to
continue as a going concern.

                        Bankruptcy Warning

"[W]e remain obligated under a significant amount of notes
payable, and Silicon Valley Bank has been granted security
interests in our assets.  If we are unable to pay these or other
obligations, the creditors could take action to enforce their
rights, including foreclosing on their security interests, and we
could be forced into liquidation and dissolution.  We are also
delinquent on a number of our accounts payable.  Our creditors may
be able to force us into involuntary bankruptcy," the Company
warned in the Fiscal 2014 Annual Report.


LOUDOUN HEIGHTS: Court Issues Final Decree
------------------------------------------
Judge Brian F. Kenney of the U.S. Bankruptcy Court for the Eastern
District of Virginia, Alexandria Division, issued a final decree in
the Chapter 11 case of Loudoun Heights, LLC, and approved the
Debtor's final report.

Frank Bredimus, Esq., at the Law Office of Frank Bredimus, in
Hamilton, Virginia, tells the Court that there has been substantial
consummation of the Plan.  He relates that Classes 1
(Administrative Costs), 2 (Ad Valorem Taxes) and 3 (Tax Claims)
will receive 100% of their claims; and Class 5 claims (General
Unsecured Claims) will receive 5% of their claims.  Mr. Bredimus
says that all administrative will be paid, and it is not
anticipated that there will be any further applications for
administrative expenses.  He notes that all property to be
transferred under the Plan has been transferred and no further
transfers are contemplated.  He adds that aside from the pending
fee application submitted on May 29, 2015, for Accounting Services
of Leesburg, Inc., as accountant for the Debtor, all pending
motions, contested matters, fee applications, and adversary
proceedings have been resolved.

Loudoun Heights, LLC, is represented by:

          Frank Bredimus, Esq.
          THE LAW OFFICE OF FRANK BREDIMUS
          P.O. Box 535
          Hamilton, VA 20159
          Telephone: (571)344-2278
          Facsimile: (540)751-1008
          Email: fbredimus@aol.com

                About Loudoun Heights


Loudoun Heights, LLC, filed a Chapter 11 petition (Bankr. E.D.
Va.
Case No. 13-15588) on Dec. 16, 2013.  The Debtor disclosed
total 
assets of $13.1 million and total debt of $4.84 million.
The 
petition was signed by Joe Bane as sole manager.  Frank
Bredimus, 
Esq., at Law Office of Frank Bredimus, serves as the
Debtor's 
counsel.  Judge Brian F. Kenney presides over the
case.



As reported in the Troubled Company Reporter on April 22, 2014, the
Debtor in early April filed an amended disclosure statement

explaining its proposed plan of reorganization.  According to
the
disclosure statement, all classes of creditors will be paid
in
full.  The proceeds from the sale of the Debtor's assets will
be
 sufficient to pay the Claims of all secured, priority
unsecured and general unsecured creditors, and court-approved
professionals. 
The Debtor expects $4.37 million to $9.92 million
in revenue from
 the sale of all assets.


LPATH INC: Receives Non-Compliance Notice From NASDAQ
-----------------------------------------------------
Lpath, Inc., received a notice letter from the Listing
Qualifications Staff of The NASDAQ Stock Market LLC indicating
that, based upon the closing bid price of the Company's common
stock for the last 30 consecutive business days, the Company no
longer meets the requirement to maintain a minimum bid price of $1
per share, as set forth in Nasdaq Listing Rule 5550(a)(2).

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), Nasdaq will
provide the Company with a period of 180 calendar days, or until
Jan. 5, 2016, in which to regain compliance.  In order to regain
compliance with the minimum bid price requirement, the closing bid
price of the Company's common stock must be at least $1 per share
for a minimum of ten consecutive business days during this 180-day
period.  In the event that the Company does not regain compliance
within this 180-day period, the Company may be eligible to seek an
additional compliance period of 180 calendar days if it meets the
continued listing requirement for market value of publicly held
shares and all other initial listing standards for the Nasdaq
Capital Market, with the exception of the bid price requirement,
and provides written notice to Nasdaq of its intent to cure the
deficiency during this second compliance period, by effecting a
reverse stock split, if necessary.  However, if it appears to the
Nasdaq Staff that the Company will not be able to cure the
deficiency, or if the Company is otherwise not eligible, Nasdaq
will provide notice to the Company that its common stock will be
subject to delisting.

The Notice does not result in the immediate delisting of the
Company's common stock from the Nasdaq Capital Market.  The Company
said it will continue to monitor the closing bid price of its
common stock over the 180-day period to see if its closing bid
price may increase based on its future filings with the Securities
and Exchange Commission or any future announcements the Company may
be able to issue regarding its drug development programs and plans.
The Company will also consider its available options to regain
compliance, including effecting a reverse stock split, which would
be subject to the prior approval of the Company's stockholders.
There can be no assurance that the Company will be able to regain
compliance with the minimum bid price requirement or maintain
compliance with the other listing requirements necessary for
Company to maintain the listing of its common stock on the Nasdaq
Capital Market.

                            About LPath

San Diego, Calif.-based Lpath, Inc. is a biotechnology company
focused on the discovery and development of lipidomic-based
therapeutics, an emerging field of medical science whereby
bioactive lipids are targeted to treat human diseases.

LPath reported a net loss of $16.6 million in 2014, a net loss of
$6.56 million in 2013 and a net loss of $2.75 million in 2012.

As of March 31, 2015, the Company had $17.1 million in total
assets, $3.76 million in total liabilities and $13.3 million in
total stockholders' equity.


MA LERIN HILLS: Secured Creditor Objects to DIP Financing
---------------------------------------------------------
Secured creditor Central Texas Water Maintenance, LLC, filed with
the U.S. Bankruptcy Court for the Western District of Texas a
limited objection to MA Lerin Hills Holder, LP's motion for interim
and final orders authorizing the Debtors to obtain postpetition
financing and to use cash collateral, saying that certain aspects
of the motion, the interim order and the proposed final order are
objectionable and should be denied or modified.

As reported by the Troubled Company Reporter on June 19, 2015,
Judge Craig A. Gargotta gave the Debtors interim authority to
obtain senior secured superpriority term loan in the amount of
$500,000 from Putnam Bridge Funding III, LLC.  The Debtors were
also given interim authority to use cash collateral securing their
prepetition indebtedness.  As of the Petition Date, the Debtors
were indebted to Putnam Bridge, as prepetition lender, in an amount
equal to $41,288,034.

CTWM objects to, among other things:

      -- any provision in the Interim or the proposed Final Order
         that would grant liens to the DIP Lender that are
         superior to the liens of CTWM with respect to the above
         identified removables, to the extent that CTWM's liens    
     
         are valid and perfected;

      -- any provision in the Interim or the proposed Final Order
         that would grant any liens, including without limitation,

         replacement liens, to the Prepetition Lender that are
         superior to the liens of CTWM with respect to the above
         identified removables, to the extent that CTWM's liens
         are valid, perfected and superior to those of the
         Prepetition Lender;

      -- any provision in the Interim or the proposed Final Order
         that would find, conclude or otherwise declare that the
         alleged liens of the Prepetition Lender are superior to
         the liens of CTWM with respect to the above identified
         removables, to the extent that CTWM's liens are valid,
         perfected and superior to those of the Prepetition
         Lender; and

      -- any provision in the Interim or the proposed Final Order
         that would provide recourse to the DIP Lender on account
         of the proposed Superpriority Claim to the above
         identified removables, to the extent that CTWM's liens
         are valid and perfected.

A copy of the objection is available for free at:

                        http://is.gd/IFquf1

On June 16, 2014, CTWM entered into a contract with the debtor LH
Devco, Inc., to commence and complete the construction of certain
improvements to the Lerin Hills real estate development project,
the construction of: (1) Recycled Water Plant No. 1, Phase 1; (2)
Domestic Water Plant No.1, Phase 1; and (3) WTM Booster Station No.
1, Phase 1.

As of the Petition Date, exclusive of interest, fees and costs,
CTWM is owed approximately $688,727.54.  CTWM asserts a lien
pursuant to Chapter 53 of the Texas Property Code on the real
property and improvements of LH Devco to secure payment of amounts
due under the Contract.  CTWM also asserts a constitutional lien on
the property pursuant to the provisions of Article 16, Section 37
of the Texas Constitution.  

CTWM is represented by:

      Husch Blackwell LLP
      Kell C. Mercer, Esq.
      111 Congress Avenue, Suite 1400
      Austin, Texas 78701
      Tel: (512) 479-9749
      Fax: (512) 226-7324
      E-mail: kell.mercer@huschblackwell.com

                         About Lerin Hills

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

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

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

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


MEG ENERGY: Bank Debt Trades at 3% Off
--------------------------------------
Participations in a syndicated loan under which MEG Energy Corp is
a borrower traded in the secondary market at 97.52 cents-on-the-
dollar during the week ended Friday, July 10, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
the July 14, 2015 edition of The Wall Street Journal.  This
represents a decrease of 0.30 percentage points from the previous
week, The Journal relates.  MEG Energy Corp pays 275 basis points
above LIBOR to borrow under the facility.  The bank loan matures on

March 16, 2020, and carries Moody's Ba1 rating and Standard &
Poor's BB+ rating.  The loan is one of the biggest gainers and
losers among 256 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended July 10.



METALICO INC: July 24 is Special Meeting Record Date
----------------------------------------------------
The Board of Directors of Metalico, Inc., set a record date of
July 24, 2015, for a special meeting of stockholders.  Stockholders
of record as of the close of business on the record date will be
eligible to vote at the meeting.  The Company and its senior
secured lenders are in discussions on the date of the meeting,
expected to be sometime in the third calendar quarter.

The purpose of the Special Meeting is:

    (1) to consider and vote on a proposal to adopt the Agreement
        and Plan of Merger, dated as of June 15, 2015, by and
        among Total Merchant Limited, TM Merger Sub Corp. and the
        Company, as amended and as such agreement may be further
        amended from time to time; and

    (2) to approve a proposal to adjourn the special meeting if
        there are insufficient votes to adopt the Merger Agreement
        as amended at the time of the Special Meeting.

As of July 14, 2015, the parties to the Merger Agreement as so
amended are in compliance with its terms, expressly including
without limitation the obligation of Parent to deposit $3,119,347,
representing the "Escrow Amount", with Citibank, N.A. as escrow
agent on or before July 6, 2015, and the obligations of the Company
to prepare and file a Proxy Statement with the Securities and
Exchange Commission and to take all action necessary to duly call,
give notice of, convene and hold a stockholders meeting as soon as
reasonably practicable after the date of the Merger Agreement.

                          About Metalico

Metalico, Inc., is a holding company with operations in two
principal business segments: ferrous and non-ferrous scrap metal
recycling, and fabrication of lead-based products.  The Company
operates recycling facilities in New York, Pennsylvania, Ohio,
West Virginia, New Jersey, Texas, and Mississippi and lead
fabricating plants in Alabama, Illinois, and California.
Metalico's common stock is traded on the NYSE MKT under the symbol
MEA.

Metalico reported a net loss attributable to the Company of $44.4
million on $476 million of revenue for the year ended Dec. 31,
2014, compared with a net loss attributable to the Company of $34.8
million on $457 million of revenue for the year ended
Dec. 31, 2013.

As of March 31, 2015, the Company had $191 million in total assets,
$83.1 million in total liabilities and $108 million in total
stockholders' equity.

CohnReznick LLP, in Roseland, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company anticipates that it
will not meet the maximum Leverage Ratio covenant as prescribed by
the Financing Agreement for the quarter ended March 31, 2015, and
there can be no assurance that the Company can resolve any
noncompliance with their lenders.  As a result, the Company's debt
could be declared immediately due and payable which would result in
the Company having insufficient liquidity to pay its debt
obligations and operate its business.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


MILAGRO OIL: Case Summary & 30 Largest Unsecured Creditors
----------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

     Debtor                               Case No.
     ------                               --------
     Milagro Holdings, LLC                15-11520
     1301 McKinney, Suite 500
     Houston, TX 77010

     Milagro Oil & Gas, Inc.              15-11521

     Milagro Exploration, LLC             15-11522

     Milagro Producing, LLC               15-11523

     Milagro Mid-Continent, LLC           15-11524

     Milagro Resources, LLC               15-11525

Type of Business: The Debtors are independent oil and gas
                  companies primarily engaged in the
                  acquisition, exploration, exploitation,
                  development, production and sale of oil and
                  natural gas reserves.

Chapter 11 Petition Date: July 15, 2015

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Debtors'           John F. Higgins, Esq.
General            Eric M. English, Esq.
Counsel:           PORTER HEDGES LLP
                   1000 Main Street, 36th Floor
                   Houston, TX 77002
                   Tel: 713.226.6687
                   Fax: 713.228.1331
                   Email: jhiggins@porterhedges.com
                          eenglish@porterhedges.com

Debtor's           Joel A. Waite, Esq.
Local              Ryan M. Bartley, Esq.
Counsel:           Ian J. Bambrick, Esq.
                   M. Blake Cleary, Esq.
                   YOUNG CONAWAY STARGATT & TAYLOR, LLP
                   1000 N. King Street
                   Rodney Square
                   Wilmington, DE 19801
                   Tel: 302.571.6600
                   Fax: 302.571.1253
                   Email: jwaite@ycst.com
                          rbartley@ycst.com
                          ibambrick@ycst.com
                          mbcleary@ycst.com

Debtors'           Scott Winn
Restructuring      Robert Bingham
Advisors:          Frank Pometti
                   ZOLFO COOPER, LLC
                   Grace Building
                   1114 Avenue of the Americas, 41st Floor
                   New York, NY 10036
                   Tel: 212.561.4000
                   Fax: 212.213.1749
                   Email: swinn@zolfocooper.com
                          bbingham@zolfocooper.com
                          fpometti@zolfocooper.com

Debtors'           PRIME CLERK LLC
Claims
and Noticing
Agent:

Milagro Holdings' Estimated Assets: $0 to $50,000

Milagro Holdings' Estimated Debts: $10 million to $50 million

Milagro Oil & Gas has not submitted a financial report to the U.S.
Securities and Exchange Commission since filing its quarterly
report on Form 10-Q for the quarterly period ended June 30, 2013,
on Aug. 13 that year.  The Company listed $483,834,000 in total
assets and $449,080,000 in total liabilities in that report.

In a Form NT 10-Q filing on Nov. 14, 2013, the Company said the
filing of the quarterly report for the period ended Sept. 30, 2013,
would be delayed and that the Company has limited staffing
resources. The Company intended to submit the report to the SEC by
Nov. 19, 2013, but never did file that report.

The petition was signed by Gary J. Mabie, president.

List of Debtor's 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Wilmington Trust                     2016 10.50%          Unknown
as Indenture Trustee                    Notes
Rodney Square North
1100 N. Market Street
Wilmington, DE 19890
Tel: 302-651-1000
Fax: 302-651-8937

Guerra Brothers Successors Ltd.     Royalty Interest   $3,324,530
P.O. Box 38                         and Litigation
Linn, TX 78563

- and -

36455 US Highway 281
Linn, TX 78563
Tel: 956-383-2602
Email: felogb@aol.com

Exterran Energy Solutions LP          Trade Debt         $155,754

Energy Gas Compression Ltd.           Trade Debt         $135,779

Axip Energy Services, LP              Trade Debt          $93,435

Microsoft Licensing GP                Trade Debt          $90,512

Sparkman Industries, Inc.             Trade Debt          $83,651

Chevron North America              Royalty Interest       $58,421
Exploration & Production Co.

Matagorda Oilfield Specialty Inc.     Trade Debt          $57,104

Enerquest Oil & Gas                   Trade Debt          $45,437

Gulf Coast Lease Service, Inc.        Trade Debt          $41,495

Liberty Swabbing Inc.                 Trade Debt          $40,707

Arkos Field Services LP               Trade Debt          $39,945

ES&H Consulting Services, Inc.        Trade Debt          $37,495

W.E. Hayden Lease Service Inc.        Trade Debt          $34,298

KEM Energy Management              Royalty Interest       $32,550

Dnow L.P.                             Trade Debt          $32,746

Ted Collins, Jr.                   Royalty Interest       $31,316

Basic Energy Services, LP             Trade Debt          $31,077

Oates Oilfield Construction Co.       Trade Debt          $29,635

Rodgers Gauging Services LLC          Trade Debt          $28,250

C&D Production Specialist Co. Inc.    Trade Debt          $27,737

Legacy Well Service, LLC              Trade Debt          $22,203

Kline Trust                        Royalty Interest       $20,348

Johnson & Lindley, Inc.            Royalty Interest       $19,828

T. Baker Smith Inc.                   Trade Debt          $19,698

X-Chem, LLC                           Trade Debt          $18,951

BKB Oilfield, Inc.                    Trade Debt          $18,254

Conoco Phillips Company            Royalty Interest       $18,139

ASRM, LLC                             Trade Debt          $17,443


MOLYCORP INC: Insists Facility Won't Completely Shut Down
---------------------------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review,
reported that Molycorp Inc. said the fate of its Mountain Pass
rare-earths facility is still up in the air, but a complete
shutdown is not an option.

According to the report, in a bankruptcy-court filing, the troubled
company said it is weighing a number of options for the California
operation, which has consistently lost money.  From 40 to 200 of
the 400 jobs at the facility could be saved, depending on how much
of the Mountain Pass facility Molycorp decides to keep running
while it addresses a $1.7 billion pile of debt, the DBR report
said, citing court papers filed on July 15.

                        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.

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.


MUD KING PRODUCTS: Final Decree Issued, Ch. 11 Case Closed
----------------------------------------------------------
Judge Karen K. Brown of the U.S. Bankruptcy Court for the Southern
District of Texas, Houston Division, issued a Final Decree, dated
May 29, 2015, ordering that the Chapter 11 case of Mud King
Products, Inc. be closed.

The Debtor filed a notice reflecting May 5, 2015, as the Effective
Date for its Second Amended Plan of Reorganization.  On May 7,
2015, the Debtor filed its Post-Confirmation Certificate.

According to the Debtor, the confirmation order is final, the
Chapter 11 plan is effective, payments to creditors have commenced
and U.S. Trustee fees are current.  The status report also stated
that no claim objections or avoidance actions are required to be
filed in the case and not contested matters are pending before the
Court.  The only remaining matters are approval of fee applications
filed by various Debtor's professionals.

Mud King Products, Inc. is represented by:

          Edward L. Rothberg, Esq.
          Melissa A. Haselden, Esq.
          HOOVER SLOVACEK LLP
          Galleria Tower II
          5051 Westheimer, Suite 1200
          Houston, Texas 77056
          Telephone: (713)977-8686
          Facsimile: (713)977-5395
          Email: rothberg@hooverslovacek.com
                 haselden@hooverslovacek.com

              About Mud King Products

Mud King Products, Inc., filed a Chapter 11 petition (Bank. S.D.

Tex. Case No. 13-32101) on April 5, 2013.  The petition was
signed
 by Erich Mundinger as vice president.  The Debtor
disclosed 
$18,959,158 in assets and $3,351,216 in liabilities as
of the
 Chapter 11 filing.  Annie E Catmull, Esq., Melissa Anne
Haselden,
 Esq., Mazelle Sara Krasoff, Esq., and Edward L.
Rothberg, Esq., at
 Hoover Slovacek, LLP, represent the Debtor in
its restructuring
 effort.  Judge Karen K. Brown presides over
the case.


The U.S. Trustee was unable to appoint an official committee of

unsecured creditor.



MURRAY HOLDINGS: Chapter 15 Case Closed
---------------------------------------
Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern
District of New York, on June 25, 2015, issued an order (a)
recognizing Murray Holdings Limited's Isle of Man Scheme Proceeding
as a foreign main proceeding under Chapter 15 of the U.S.
Bankruptcy Code, (b) recognizing, enforcing and effecting the Isle
of Man Scheme and the Isle of Man Sanction Order in the United
States, and (c) closing the Chapter 15 Case.

Danielle E. Perlman, Esq., at Sidley Austin LLP, in New York, said
the principal purpose of the Chapter 15 proceeding is to enforce
the Isle of Man Scheme in the United States and thereby protect one
of the Company's most valuable assets -- the Spirit Shares, which
had a trading value of approximately $114 million as of the
Petition Date and generate substantial annual dividends for the
Company.  Ms. Perlman added that Arnaldur Jon Gunnarsson and Arnar
Scheving Thorsteinsson, as foreign representatives, believe that,
upon entry of the Proposed Recognition and Enforcement Order, there
will be no further restructuring activity for the Court to consider
in the context of the Chapter 15 Case.

The Foreign Representatives are represented by:

          Jessica C.K. Boelter, Esq.
          Matthew G. Martinez, Esq.
          Matthew E. Linder, Esq.
          SIDLEY AUSTIN LLP
          One South Dearborn
          Chicago, Illinois 60603
          Telephone: (312)853-7000
          Email: jboelter@sidley.com
                 matthew.martinez@sidley.com
                 mlinder@sidley.com

             -- and --

          Danielle E. Perlman, Esq.
          SIDLEY AUSTIN LLP
          787 Seventh Avenue
          New York, NY 10019
          Telephone: (212)839-5300
          Email: dperlman@sidley.com

                  About Murray Holdings


Andrew Paul Shimmin, on March 8, 2010, was appointed as
liquidator
 provisional of Murray Holdings Limited by the Isle of
Man Court pursuant to an
 application filed by Kaupthing hf., a
company incorporated in 
Iceland, and the ultimate parent of the
Company.  On March 29, 
2010, the Company was wound up by the
Isle of Man Court and an 
order was made appointing Shimmin as
liquidator.



On Nov. 18, 2014, the Company commenced solicitation of votes for

or against sanctioning the Isle of Man Scheme.  On Dec. 22,
2014,
 the Isle of Man Court held a hearing to consider
sanctioning the 
Isle of Man Scheme.  On the same day, the Isle
of Man Court entered the Isle of Man Sanction Order.  The
"Effective Date" occurred on Dec. 23, 2014.



Arnaldur Jon Gunnarsson and Arnar Scheving Thorsteinsson were

appointed as Nominated Directors by written resolution of
Kirna
ehf, dated March 19, 2015.  Also pursuant to the Kirna
Resolution,
 on March 19, 2015, the Company, which was formerly
named Isis 
Investments Limited (in liquidation), legally changed
its name to 
Murray Holdings Limited.  The appointment of the
Nominated
 Directors and the name change took effect at midnight
on March 31,
 2015 pursuant to an order made on March 26, 2015,
by the Isle of
 Man Court.



On May 11, 2015, the Nominated Directors, as Foreign

Representatives, commenced the Chapter 15 case in the U.S. to
seek
 recognition of the Isle of Man Scheme Proceeding as a
foreign main 
proceeding.



A copy of the Nominated Directors' verified petition for

recognition of the Isle of Man proceeding is available for free
at 
http://bankrupt.com/misc/Murray_H_Recog_Petition.pdf


NAARTJIE CUSTOM: Seeks Aug. 10 Extension of Plan Filing Date
------------------------------------------------------------
Naartjie Custom Kids, Inc., asks the U.S. Bankruptcy Court for the
District of Utah, Central Division, for the third time, to extend
its exclusive plan filing period up to August 10, 2015, and its
exclusive solicitation period up to October 9, 2015.

Jeffrey M. Armington, Esq., at Dorsey & Whitney LLP, in Salt Lake
City, Utah, tells the Court that the Debtor has spent substantial
time seeking to sell its assets to maximize value before the value
of those assets diminished.  Mr. Armington further tells the Court
that the Debtor is working to conclude its case through a
structured dismissal, or if necessary through the plan confirmation
process, to complete the claims reconciliation and objection
process, and to wind up the Debtor's affairs.  He asserts that the
Debtor is in need of additional time to consensually resolve its
case either through structured dismissal as proposed in the
Structured Dismissal Motion or through a Chapter 11 plan.

The Debtor is represented by:

          Annette W. Jarvis, Esq.
          Peggy Hunt, Esq.
          Michael F. Thomson, Esq.
          Jeffrey M. Armington, Esq.
          DORSEY & WHITNEY LLP
          136 South Main Street, Suite 1000
          Salt Lake City, UT 84101-1685
          Telephone: (801)933-7360
          Facsimile: (801)933-7373
          Email: jarvis.annette@dorsey.com
                 hunt.peggy@dorsey.com
                 thomson.michael@dorsey.com
                 armington.jeff@dorsey.com
          
               About Naartjie Custom Kids

Naartjie Custom Kids, Inc., which designs, manufactures and sells

children's clothing, accessories and footwear for ages newborn

through 10 years old, sought protection under Chapter 11 of
the
 Bankruptcy Code on Sept. 12, 2014 (Bankr. D. Utah Case No.
14-
29666).  The case is assigned to Judge William T.
Thurman.



The Debtor's counsel is Annette W. Jarvis, Esq., Jeffrey M.

Armington, Esq., Benjamin J. Kotter, Esq., and Michael F.
Thomson,
Esq., at Dorsey & Whitney LLP, in Salt Lake City,
Utah.



The Official Committee of Unsecured Creditors is represented by

Pachulski Stang Ziehl & Jones LLP as its counsel.  Ray Quinney
&
 Nebeker P.C. serves as local counsel.  FTI Consulting, Inc.
serves
as its financial advisor.




NNN 3500: Seeks Entry of Final Decree
-------------------------------------
NNN 3500 Maple 1, LLC, and its affiliated reorganized debtors ask
the U.S. Bankruptcy Court for the Northern District of Texas,
Dallas Division, to enter a final decree.

Michelle V. Larson, Esq., at Andrews Kurth LLP, in Dallas, Texas,
tells the Court that the Reorganized Debtors ask that the Court
enter the Final Decree following the successful confirmation and
consummation of the Chapter 11 Plan, together with the full and
complete resolution of the remaining issues.  Ms. Larson further
tells the Court that the Reorganized Debtors will timely pay all
quarterly fees owed to the U.S. Trustee for periods through the
quarter ending June 30, 2015.  She adds that upon the payment, the
Court's role in administering the Chapter 11 cases is complete.

The hearing on the Motion is scheduled for July 31, 2015 at 9:00
am.  The deadline for the filing of objections to the Motion is
July 30.

The Reorganized Debtors are represented by:

          Michelle V. Larson, Esq.
          ANDREWS KURTH LLP
          1717 Main Street, Suite 3700
          Dallas, TX 75201
          Telephone: (214)659-4400
          Facsimile: (214)659-4401
          Email: michellelarson@andrewskurth.com

           -- and --

          Jeremy B. Reckmeyer, Esq.
          ANDREWS KURTH LLP
          450 Lexington Avenue, 15th Floor
          New York, NY 10017
          Telephone: (212)850-2800
          Facsimile: (212)850-2929
          Email: jeremyreckmeyer@andrewskurth.com
         
                     About NNN 3500 Maple 26




NNN 3500 Maple 26, LLC, based in Costa Mesa, Calif., filed
for 
Chapter 11 bankruptcy (Bankr. C.D. Calif. Case No. 12-23718)
on
 Nov. 30, 2012.  Judge Scott C. Clarkson presided over the
case.
  In its schedules, the Debtor disclosed $45,563,241 in
total assets 
and $46,658,593 in total liabilities.



On Jan. 23, 2013, the California Bankruptcy Court entered an
order
 transferring venue of the bankruptcy case to the U.S.
Bankruptcy 
Court for the Northern District of Texas (Case No.
13-30402).
  Judge Harlin DeWayne Hale in Dallas presides over
the case.



On Aug. 29, 2013, 26 other affiliates filed separate Chapter 11

petitions.  These entities are: NNN 3500 Maple 1, LLC, NNN 3500

Maple 2, LLC, NNN 3500 Maple 3, LLC, NNN 3500 Maple 4, LLC,
NNN
 3500 Maple 5, LLC, NNN 3500 Maple 6, LLC, NNN 3500 Maple 7,
LLC, 
NNN 3500 Maple 10, LLC, NNN 3500 Maple 12, LLC, NNN 3500
Maple 13,
LLC, NNN 3500 Maple 14, LLC, NNN 3500 Maple 15, LLC,
NNN 3500
 Maple 16, LLC, NNN 3500 Maple 17, LLC, NNN 3500 Maple
18, LLC, NNN
 3500 Maple 20, LLC, NNN 3500 Maple 22, LLC, NNN
3500 Maple 23,
 LLC, NNN 3500 Maple 24, LLC, NNN 3500 Maple 27,
LLC, NNN 3500 
Maple 28, LLC, NNN 3500 Maple 29, LLC, NNN 3500
Maple 30, LLC, NNN 
3500 Maple 31, LLC, NNN 3500 Maple 32, LLC,
and NNN 3500 Maple 34.



Each Debtor holds an ownership interest as a tenant in common in

an 18-story commercial office building commonly known as 3500

Maple Avenue, Dallas, Texas 75219.



These TICs have not filed for bankruptcy: NNN 3500 Maple 0, LLC,

NNN 3500 Maple 8, LLC, NNN 3500 Maple 9, LLC, NNN 3500 Maple
11,
 LLC, NNN 3500 Maple 25, LLC, and NNN 3500 Maple 35,
LLC.



Bankruptcy Judge Harlin DeWane Hale denied confirmation of two

competing reorganization plans filed in the Chapter 11 cases
of
 NNN 3500 Maple 26 LLC and its affiliated debtors.



The Plan is to be funded by an $8.5 million "Cash Infusion" and

"Additional Equity Contributions" of around $10 million.  Under

the Debtors' Plan, the building will undergo substantial

rehabilitation.



The Plan propose by Strategic Acquisition Partners, LLC, a party

that acquired a claim in the case, similar to the Debtors', in
an
 attempted cure and restatement, will replace the Borrower
with 
NewCo under the Loan Documents.  NewCo will be divided into
Class  
A and Class B membership interests.



An official creditors' committee has not been appointed in this

case.  Neither a trustee nor an examiner has been
appointed.



The Debtors are represented by Michelle V. Larson, Esq., at

ANDREWS KURTH LLP, and Jeremy B. Reckmeyer, Esq., at ANDREWS KURTH

LLP.



Strategic Acquisition Partners LLC is represented by Joseph J.

Wielebinski, Esq., Davor Rukavina, Esq., Zachery Z. Annable,
Esq.,
and Thomas D. Berghman, Esq., at MUNSCH HARDT KOPF & HARR,
P.C.



William B. Finkelstein, Esq., Esq., and Jeffrey R. Fine, Esq., at

DYKEMA GOSSETT PLLC serve as counsel to Maple Avenue Tower,
LLC.



As reported by the Troubled Company Reporter on Jan. 19, 2015, the

Debtors notified the U.S. Bankruptcy Court that the Effective
Date 
of the Joint Chapter 11 Plan occurred on Dec. 23, 2014,
and, as a 
result, the Plan has been substantially consummated.
The Court in
 November 2014 entered an order confirming the
Debtors' Plan.



NOGALES HOTEL: Case Summary & 6 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Nogales Hotel Company, LLC
        100 S Hammons Drive
        Junction City, KS 66441

Case No.: 15-40712

Chapter 11 Petition Date: July 15, 2015

Court: United States Bankruptcy Court
       District of Kansas (Topeka)

Debtor's        Joyce Lindauer, Esq.
Counsel:        JOYCE W. LINDAUER ATTORNEY, PLLC
                12720 Hillcrest Road, Suite 625
                Dallas, TX 75230
                Tel: (972) 503-4033
                Fax: (972) 503-4034

Debtor's        Paul D. Post, Esq.
Co-Counsel:     5897 SW 29th St
                Topeka, KS 66614
                Tel: (785) 273-1353
                Fax: (785) 273-1301
                Email: paulpost@paulpost.com

Total Assets: $3.4 million

Total Liabilities: $4.8 million

The petition was signed by Rajinder Bal, president.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/ksb15-40712.pdf


NORTH DALLAS LAWN: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: North Dallas Lawn Care & Landscape, Inc.
        10900 Petal Street
        Dallas, TX 75238

Case No.: 15-41268

Chapter 11 Petition Date: July 15, 2015

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Judge: Hon. Brenda T. Rhoades

Debtor's Counsel: Robert T. DeMarco, Esq.
                  DEMARCO-MITCHELL, PLLC
                  1255 West 15th St., 805
                  Plano, TX 75075
                  Tel: 972-578-1400
                  Fax: 972-346-6791
                  Email: robert@demarcomitchell.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by James Wendell Norris, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txeb15-41268.pdf


OCEAN RIG: Bank Debt Trades at 16% Off
--------------------------------------
Participations in a syndicated loan under which Ocean Rig is a
borrower traded in the secondary market at 83.55 cents-on-the-
dollar during the week ended Friday, July 10, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
the July 14, 2015 edition of The Wall Street Journal.  This
represents an increase of 1.44 percentage points from the
previous week, The Journal relates. Ocean Rig pays 450 basis
points above LIBOR to borrow under the facility. The bank loan
matures on July 17, 2021, and carries Moody's withdrawn rating
and Standard & Poor's B+ rating.  The loan is one of the biggest
gainers and losers among 256 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended July 10.



ONE SOURCE: Authorized to Grant Adequate Protection to Mack
-----------------------------------------------------------
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 make adequate protection payments to Mack
Financial Services, a Division of VFS US LLC.

As of the Petition Date, the Debtor was indebted to Mack Financial
pursuant to the Direct Loan Contract dated April 24, 2012 which
Mack Financial alleges has a Petition Date payoff of $255,892.20
secured by four Mack vehicles.  The Debtor was in default as of the
Petition Date in an amount which Mack Financial alleges to be
$26,219.00.

Under the agreed order, the Debtor will maintain current and valid
comprehensive insurance coverage on the Collateral naming Mack
Financial as loss payee pursuant to the terms of the Schedules.

The Debtor will pay Mack Financial $9,358 as adequate protection
payments to be applied ratably among the Schedules.   On July 10,
2015 and continuing on the 10th day of each month thereafter until
a Plan of Reorganization is confirmed, the Debtor will pay Mack
Financial $14,038 as adequate protection payments to be applied
ratably among the Schedules.

                       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.



PACIFIC DRILLING: Bank Debt Trades at 20% Off
---------------------------------------------
Participations in a syndicated loan under which Pacific Drilling
Ltd. is a borrower traded in the secondary market at 80.00
cents-on-the- dollar during the week ended Friday, July 10, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in the July 14, 2015 edition of The Wall Street Journal.
This represents a decrease of 0.44 percentage points from the
previous week, The Journal relates. Pacific Drilling Ltd. pays 350
basis points above LIBOR to borrow under the facility.  The bank
loan matures on May 15, 2018, and carries Moody's B1 rating and
Standard & Poor's B+ rating.  The loan is one of the biggest
gainers and losers among 256 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended July 10.



PATRIOT COAL: $1,960 in Claims Switch Hands in June 2015
--------------------------------------------------------
In the Chapter 11 cases of Patriot Coal Corporation et al., one
claim switched hands between June 9, 2015:

     Transferee                   Transferor        Claim Amount
     ----------                   ----------        ------------
Sierra Liquidity Fund, LLC     Stateline Sales &       $1,960.00
                               Service

                        About Patriot Coal

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

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

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

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

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

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

                        *     *     *

Patriot Coal on June 3 disclosed that it has filed with the
Bankruptcy Court a letter of intent for a proposed sale of a
substantial majority of its operating assets to Blackhawk Mining,
LLC, as well as a motion outlining bidding procedures.  The
contemplated transaction would be consummated pursuant to a Chapter
11 plan and is subject to documentation of a definitive asset
purchase agreement, bankruptcy court approval of the sale,
confirmation of a Chapter 11 plan, and other customary conditions.

Patriot's mining operations and customer shipments will continue in
the ordinary course during the sale process.

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


PEABODY ENERGY: S&P Lowers CCR to 'B', Outlook Stable
-----------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on St. Louis-based Peabody Energy Corp. to 'B' from
'BB-'.  The outlook is stable.

At the same time, S&P lowered the issue-level rating on the
company's senior secured debt to 'BB-' from 'BB+'.  The '1'
recovery rating on the debt remains unchanged and indicates S&P's
expectation of substantial (90% to 100%) recovery in the event of a
payment default.  In addition, S&P lowered the issue-level rating
on the company's senior unsecured debt to 'B-' from 'B+'. The '5'
recovery rating on the debt remains unchanged and indicates S&P's
expectation of modest (10% to 30%; upper half of the range)
recovery in the event of a payment default.  S&P also lowered the
issue-level rating on the company's junior subordinated debt to
'CCC' from 'B-'; it remains three notches below the corporate
credit rating in accordance with S&P's notching guidelines.

Although it has been S&P's view that coal industry operating
conditions would remain weak in 2015, pricing for met coal has
contracted more than S&P expected, with the met coal benchmark
falling to $93 per metric tonne (Mt) for the third quarter of 2015.
In addition, S&P anticipates that the oversupply in the met coal
markets will take at least a year to clear and a price recovery
will be prolonged and capped around $125/Mt in the medium term,
well below previous highs.

"The stable outlook is based on our view that -- potential
restructuring costs notwithstanding -- there is limited additional
downside to Peabody's Australian metallurgical coal business," said
Standard & Poor's credit analyst Chiza Vitta.  "In addition, we
expect the western U.S. mining segment, which has emerged as the
largest EBITDA contributor, will continue to operate at relatively
steady levels of profitability and production.  As a result, we
expect credit measures to remain within current ranges over the
next 12 months."

S&P could lower the rating if it no longer considered liquidity to
be strong.  This could happen if the cushions relating to secured
debt leverage or interest coverage covenants dropped below 30%.
S&P could also lower the rating if it no longer considered the
company's business risk profile to be fair due to permanent shifts
in the competitive environment.

S&P could raise the rating if EBITDA margins rise above 25% or
leverage drops below 5x, while maintaining strong liquidity.  This
could happen if coal prices improve more quickly than S&P currently
anticipates or if the company's efforts to cut costs and shed less
profitable operations have enough of an impact.



PETTERS COMPANY: BMO Harris Settles Ponzi Scheme Suit for $16M
--------------------------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reported that BMO Harris Bank agreed to pay $16 million to settle
litigation tied to a Minnesota Ponzi scheme that cheated investors
out of several billion dollars.

According to the report, the settlement, filed on July 16 in a
Florida bankruptcy court, would free Chicago-based BMO Harris from
a lawsuit seeking nearly $24 billion in connection with accusations
that M&I Bank, which BMO acquired in 2011, was complicit in a
massive fraud orchestrated by Minnesota businessman Tom Petters.

                      About Petters Company

Based in Minnetonka, Minn., Petters Group Worldwide LLC is a
collection of some 20 companies, most of which make and market
consumer products.  It also works with existing brands through
licensing agreements to further extend those brands into new
product lines and markets.  Holdings include Fingerhut (consumer
products via its catalog and Web site), SoniqCast (maker of
portable, WiFi MP3 devices), leading instant film and camera
company Polaroid (purchased for $426 million in 2005), Sun Country
Airlines (acquired in 2006), and Enable Holdings (online
marketplace and auction for consumers and manufacturers' overstock
inventory).  Founder and chairman Tom Petters formed the company in
1988.

Petters Company, Inc., is the financing and capital-raising unit of
Petters Group Worldwide.

Thomas Petters, the founder and former CEO of Petters Group, has
been indicted and a criminal proceeding against him is proceeding
in the U.S. District Court for the District of Minnesota.

Petters Company, Petters Group Worldwide and eight other
affiliates filed separate petitions for Chapter 11 protection
(Bankr. D. Minn. Lead Case No. 08-45257) on Oct. 11, 2008.  In its
petition, Petters Company estimated its debts at $500 million and
$1 billion.  Parent Petters Group Worldwide estimated its debts at
not more than $50,000.

Petters Aviation, LLC, and affiliates MN Airlines, LLC, doing
business as Sun Country Airlines, Inc., and MN Airline Holdings,
Inc., filed separate petitions for Chapter 11 bankruptcy protection
(Bankr. D. Minn. Case Nos. 08-45136, 08-35197 and 08-35198) on Oct.
6, 2008.  Petters Aviation is a wholly owned unit of Thomas Petters
Inc. and owner of MN Airline Holdings, Sun Country's parent
company.

The Official Committee of Unsecured Creditors is represented by
David E. Runck, Esq., Lorie A. Klein, Esq., at Fafinski Mark &
Johnson, P.A.

Trustee Douglas A. Kelley is represented by James A. Lodoen, Esq.,
Mark D. Larsen, Esq., Kirstin D. Kanski, Esq., Adam C. Ballinger,
Esq., at Lindquist & Vennum LLP.


PHARMACYTE BIOTECH: Needs More Time to File Fiscal 2015 Form 10-K
-----------------------------------------------------------------
PharmaCyte Biotech, Inc., disclosed with the Securities and
Exchange Commission that it has experienced a delay in completing
the necessary disclosures and finalizing its financial statements
with its independent public accountant in connection with its
annual report on Form 10-K for the year ended April 30, 2015.  As a
result of this delay, the Company was unable to file the Annual
Report by the prescribed filing date without unreasonable effort or
expense.

                   About PharmaCyte Biotech, Inc.

PharmaCyte Biotech, Inc., formerly known as Nuvilex Inc, is
dedicated to bringing to market scientifically derived products
designed to improve the health, condition and well-being of those
who use them.  The Company is a clinical stage biotechnology
company focused on developing and preparing to commercialize
treatments for cancer and diabetes based upon a proprietary
cellulose-based live-cell encapsulation technology known as
Cell-in-a-Box.  The Company intends to use this unique and patented
technology as a platform upon which to build treatments for several
types of cancer, including advanced, inoperable pancreatic cancer,
and diabetes.

Nuvilex incurred a net loss of $1.59 million on $12,200 of product
sales for the 12 months ended April 30, 2013, as compared with a
net loss of $1.89 million on $66,600 of total revenue during the
prior year.

As of Jan. 31, 2015, the Company had $6.62 million in total assets,
$379,000 in total liabilities and $6.24 million in total
stockholders' equity.

Robison, Hill & Co., in Salt Lake City, Utah, issued a "going
concern" qualification on the consolidated financial statements
for the year ended April 30, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations
which raises substantial doubt about its ability to continue as a
going concern.


PRINCE INTERNATIONAL: Moody's Affirms 'B3' Corporate Family Rating
------------------------------------------------------------------
Moody's Investors Service changed Prince International
Corporation's (Prince Mineral Holding Corp.) outlook to negative
from stable. At the same time, Moody's affirmed the B3 corporate
family rating, B3-PD probability of default rating and the Caa1
rating on Prince's senior secured notes. The change in outlook
reflects the recent deterioration in Prince International's
operating results and credit metrics and the expectation this will
persist in the near term due to continued weakness in the upstream
energy sector.

The following ratings were affected in this rating action:

Outlook Actions:

  Changed To Negative From Stable

Affirmations:

  Probability of Default Rating, Affirmed B3-PD

  Corporate Family Rating, Affirmed B3

  $285 Million Senior Secured Notes due 2019, Affirmed Caa1 (LGD4)

RATINGS RATIONALE

Prince International's B3 corporate family rating reflects its
small size, elevated leverage, inconsistent free cash flow and
significant exposure to the cyclical oil & gas and steel sectors.
The rating also reflects the company's acquisitive history and the
likelihood of further acquisitions, which could limit future
deleveraging. These factors are somewhat balanced by the company's
above average margins relative to other steel and energy sector
distributors, long-term relationships with large and
well-established customers and the diverse mix of products
distributed by the company.

Prince's operating results are expected to decline materially in
2015 due to the significant decline in drilling activity resulting
from the substantial decline in oil and natural gas prices, along
with softer demand from the steel sector. This was exhibited during
the first quarter when the company's revenues declined by 19% and
its adjusted EBITDA plunged by about 47% due to substantially lower
volumes and pricing in its Energy segment. As a result, the
company's credit metrics deteriorated substantially with its
leverage ratio (Debt/EBITDA) rising to 5.6x and its interest
coverage ratio ((EBITDA-CapEx)/Interest Expense) declining to 1.0x
as of March 2015.

Moody's expects the weak trends in Prince International's business
to persist in the near term as oil and natural gas prices are
expected to improve only modestly over the next 12 to 18 months and
the steel sector remains under intense competitive pressure. This
will be somewhat tempered by the company's focus on cost cutting
initiatives. However, Moody's still expects Prince's operating
results to deteriorate substantially in 2015 and for its credit
metrics to weaken further with its leverage ratio rising to about
6.0x and its interest coverage remaining weak at about 1.0x.
Prince's credit metrics will remain weak until it is able to grow
its operating earnings since its ability to deleverage is limited
by its low amount of pre-payable debt ($3 million as of March 31,
2015). It cannot redeem any of its senior secured notes until
December 2015 and would have to pay a substantial make whole
premium at that time and the notes do not mature until December
2019.

Prince International has a good liquidity profile and no near-term
debt maturities. The company amended its credit facility in June
2015 and increased the size of the facility to $85 million from $50
million and extended the maturity to 2019 from 2017. The company
had about $10 million of cash and no outstanding borrowings on its
$50 million senior secured asset-based revolving credit facility as
of March 31, 2015. The company is anticipated to have availability
of about $65 million to $70 million on the new credit facility.
Prince is likely to use the revolver to support seasonal and
cyclical working capital needs and to fund acquisitions.

Prince's outlook could return to stable if the company's liquidity
remains adequate and operating results improve over the next 12 to
18 months resulting in stronger credit metrics. This would include
the leverage ratio declining below 5.0x and the interest coverage
ratio ((EBITDA-CapEx)/Interest Expense) rising to about 1.5x.

An upgrade is not likely in the near term, but could occur if the
company maintains above average EBITDA margins and achieves
improved free cash flow and credit metrics. This would include
consistently generating free cash flow of at least $50 million,
reducing its leverage ratio below 4.0x and raising its interest
coverage above 2.0x.

Negative rating pressure could develop if operating results remain
weak or debt financed acquisitions or shareholder distributions
result in its leverage ratio remaining above 6.0x or its interest
coverage ratio declining below 1.0x. A significant reduction in
borrowing availability or liquidity could also result in a
downgrade.

Prince International Corporation, headquartered in New York, New
York is a processor and distributor of specialty minerals, raw
materials, and niche industrial additives. Prince Minerals operates
out of 20 facilities located in the United States, South America,
Europe and Africa and reports its revenues in three market
segments. Its Americas segment manufactures and distributes
value-added mineral based products, engineered additives, and
specialty coatings in North and South America. Prince's
International segment manufactures and distributes value-added
mineral based products, engineered additives, and specialty
coatings throughout Europe, the Middle East, Africa, and the Asia
Pacific region. Its Energy segment manufactures and distributes
specialty additives and chemicals used in oilfield drilling and
cementing fluids primarily in the United States and Canada. The
company generated sales of $405 million during the twelve months
ended March 31, 2015. The company was formed in 2003 and is owned
by affiliates of Palladium Equity Partners.



PRONERVE HOLDINGS: Taps Katz & Luxenburg as Tax Services Provider
-----------------------------------------------------------------
ProNerve Holdings, LLC and its debtor-affiliates seek authorization
from the U.S. Bankruptcy Court for the District of Delaware to
employ Katz & Luxenburg, LLC to provide tax preparation services.

Katz & Luxenburg will prepare certain of the Debtors' 2015 federal
and state income tax returns, as set forth in the Engagement
Letter.

Katz & Luxenburg's requested compensation for preparing the
requested 2015 income tax returns is a flat fee in the amount of
$15,000.

Samuel N. Luxenburg of Katz & Luxenburg assured the Court that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtors and their estates.

The Court for the District of Delaware will hold a hearing on the
application on July 20, 2015, at 11:00 a.m.  Objections were due
July 13, 2015.

Katz & Luxenburg can be reached at:

       Samuel N. Luxenburg
       KATZ & LUXENBURG
       1212 Reisterstown Rd. Suite 100
       Baltimore, MD 21208
       Tel: (410) 480-4900
       Fax: (410) 782-3199

                        About ProNerve Holdings

Founded in 2008, ProNerve is headquartered in a suburb of Denver,
Colorado.  ProNerve and certain affiliated practice entities
provide intraoperative neurophysiologic monitoring ("IOM") services
to health systems, acute care hospitals, specialty hospitals,
ambulatory surgical centers, surgeons, and physician groups in more
than 25 states.

ProNerve Holdings, LLC and its affiliates sought Chapter 11
protection (Bankr. D. Del. Case No. 15-10373) on Feb. 24, 2015,
with a deal to sell assets to SpecialtyCare IOM Services, LLC for
a credit bid of $35 million.

The cases are assigned to Judge Kevin J. Carey.

The Debtors filed a Chapter 11 plan of liquidation
and accompanying disclosure statement, following the sale of
substantially all of the Debtors' assets to SpecialtyCare IOM
Services LLC in a $35 million debt-for-equity swap.

The combined Plan and Disclosure Statement provides for the
proceeds from the Debtors' assets already liquidated or to be
liquidated over time to be distributed to holders of allowed
claims.

The Debtor tapped Pepper Hamilton LLP as counsel, and The Garden
City Group, Inc., as claims and noticing agent.


PSL-NORTH AMERICA: Seeks Oct. 12 Extension of Plan Filing Date
--------------------------------------------------------------
PSL-North America LLC and its affiliated debtors ask the U.S.
Bankruptcy Court for the District of Delaware, for the third time,
to extend their exclusive period to file a Chapter 11 plan to
October 12, 2015, and their exclusive period to solicit acceptances
of that plan to December 13, 2015.

Joseph C. Barsalona II, Esq., at Richards, Layton & Finger, P.A.,
in Wilmington, Delaware, tells the Court that the Debtors have been
operating under the protection of Chapter 11 for approximately
thirteen months.  Mr. Barsalona further tells the Court that during
this time, the Debtors have (a) stabilized their businesses after
the filing of their Chapter 11 Cases and responded to myriad
requests and inquiries from vendors, customers, employees and other
creditors, (b) negotiated and drafted the Asset Purchase Agreement,
(c) prepared and filed the Sale Motion, (d) prepared and filed
schedules of assets and liabilities and statements of financial
affairs for each of the Debtors, (e) reviewed executory contracts
and worked to determine the appropriate cure amounts related
thereto, (f) filed notices of assumption and assignment of
executory contracts, (g) closed the Sale, (h) set bar dates and
finalized a bar date process, and (i) assisted in the transition of
the Debtors' former business operations and assets to the
purchaser.  He says that since the Bar Dates ran in these cases,
the Debtors have been in the process of evaluating the potential
claims and preparing a plan of liquidation and related disclosure
statement for what the Debtors hope to be a consensual result of
these Chapter 11 Cases.  He says the Debtors intend to be in a
position to file a plan in the next few weeks.

The Motion is scheduled for hearing on August 18, 2015 at 2:00 p.m.
The deadline for the filing of objections to the Motion is set on
July 27.

The Debtors are represented by:

          John H. Knight, Esq.
          Paul N. Heath, Esq.
          Amanda R. Steele, Esq.
          RICHARDS, LAYTON & FINGER, P.A.
          920 N. King Street
          Wilmington, DE 19801
          Telephone: (302)651-7700
          Facsimile: (302)651-7701
          Email: knight@rlf.com
                 heath@rlf.com
                 steele@rlf.com
                 barsalona@rlf.com

                  About PSL-North America


Founded in 2006, PSL-North America LLC is a manufacturer and

coater of large diameter steel pipes.  The company has a

state-of-the-art facility located in Bay St. Louis,
Mississippi,
 with the land leased for 99 years.  The company is
an
 American-based partially owned subsidiary of India's
largest
 producer and manufacturer of steel piping, PSL
Limited.



On June 16, 2014, PSL-North America LLC and PSL USA Inc., filed

voluntary petitions in Delaware (Lead Case No. 14-11477) seeking

relief under chapter 11 of the United States Bankruptcy Code.
The
 Debtors' cases have been assigned to Judge Peter J.
Walsh.



The Debtors seek to have their cases jointly administered 
for
procedural purposes.



PSL-North America LL disclosed $93.3 million in assets and $204

million in liabilities as of the Chapter 11 filing.  As of
the
 Petition Date, the company had total outstanding debt
obligations 
of $130 million, according to a court filing.



Counsel for the Debtor are John H. Knight, Esq., Paul N.
Heath,
Esq., Tyler D. Semmelman, Esq., Amanda R. Steele, Esq. and
William
 A. Romanowicz, Esq. at Richards, Layton & Finger, P.A.
of 
Wilmington, Delaware.  Epiq Bankruptcy Solutions serves as
claims
 agent.




QUALITY DISTRIBUTION: S&P Lowers CCR to 'B-', Off CreditWatch Neg
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it has lowered its
corporate credit rating on Tampa-based transportation and logistics
provider Quality Distribution Inc. to 'B-' from 'B' and removed the
ratings from CreditWatch, where S&P had placed them with negative
implications on May 8, 2015.  The outlook is stable.

At the same time, S&P assigned its 'B-' issue-level rating and '3'
recovery rating to Quality Distribution's proposed $400 million
first-lien term loan due 2022.  The '3' recovery rating indicates
S&P's expectation for meaningful recovery (50-70%; lower end of the
range) in the event of a payment default.

Additionally, S&P assigned its 'CCC' issue-level rating and '6'
recovery rating to the company's proposed $135 million second-lien
term loan due 2023.  The '6' recovery rating indicates S&P's
expectation for negligible recovery (0-10%) in the event of a
payment default.

"The downgrade reflects Quality Distribution's higher debt-leverage
pro forma for its acquisition by Apax Partners," said Standard &
Poor's credit analyst Michael Durand.  "Our ratings on Quality
Distribution also reflect the company's market position as the
largest bulk tank truck carrier in North America."  The company's
low margins, participation in a highly fragmented industry, and
significant debt burden offset this strength.  S&P expects Quality
Distribution to generate a funds from operations (FFO)-to-total
adjusted debt ratio in the high-single-digit percentage area in
2015.

The stable outlook reflects that S&P expects Quality Distribution's
revenue and cash flow to remain relatively consistent over the next
year.  S&P's expectations for the current rating include a
FFO-to-total adjusted debt ratio below 12% and a total
debt-to-EBITDA metric of between 6x and 7x.

S&P could raise its rating on Quality Distribution if the company's
improved earnings cause its debt-to-EBITDA metric to fall below 6x
for a sustained period.  This could occur if the company posts
strong operating results or pays down its debt.

Although not likely over the next 12 months, S&P could lower the
rating if Quality Distribution's liquidity becomes constrained, if
its earnings deteriorate, or if debt-financed acquisitions cause
the company's capital structure to become unsustainable over the
long term.



QUICKSILVER RESOURCES: Amends Schedule of Unexpired Leases
----------------------------------------------------------
Quicksilver Resources Inc., et al., filed with the U.S. Bankruptcy
Court for the District of Delaware Amended Schedule G -- Executory
Contracts and Unexpired Lease to disclose certain contracts that
were previously redacted.  A copy of Schedule G is available for
free at:

      
http://bankrupt.com/misc/QuicksilverResources_443_amendedSAL.pdf

As reported in the Troubled Company Reporter on June 25, 2015,
Quicksilver Resources Inc. filed its schedules of assets and
liabilities, disclosing:

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

A copy of the schedules is available for free at:

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

                 About Quicksilver Resources Inc.

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

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

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

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

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

The U.S. Trustee for Region 3 appointed five creditors to serve on
the official committee of unsecured creditors.  The Committee
retained Paul, Weiss, Rifkind, Wharton & Garrison LLP as counsel;
and Landis Rath & Cobb LLP as Delaware counsel.  It retained
Capstone Advisory Group, LLC and Capstone Valuation Services, LLC
as financial advisors; and Moelis & Company LLC as investment
banker.


RADIOSHACK CORP: Seeks to Use Cash Collateral Up to Aug. 29
-----------------------------------------------------------
RS Legacy Corporation, f/k/a RadioShack Corporation, and its
affiliated Debtors seek authority from the U.S. Bankruptcy Court
for the District of Delaware to continue to use Cash Collateral up
to August 29, 2015.

Evelyn J. Meltzer, Esq., at Pepper Hamilton LLP, in Wilmington,
Delaware, tells the Court that following the expiration of the Cash
Collateral Stipulation on July 23, 2015, the Debtors will continue
to require access to the Cash Collateral to complete a variety of
tasks associated with the wind down of the estates, including (i)
the collection or monetization of their remaining assets, (ii) the
wind down of their remaining business operations, and (iii) the
pursuit of confirmation of a plan of liquidation.  Ms. Meltzer adds
that without immediate access to funds, including any Cash
Collateral, following the expiration of the Stipulation, the
Debtors will be unable to fund the costs of the Chapter 11 cases
and unable to pursue a path forward in completing the wind down
that they believe is in the best interests of their creditors.

The Cash Collateral Motion is scheduled for hearing on July 22,
2015 at 11:00 a.m.  The deadline for the filing of objections to
the Motion is July 20.

The Debtors are represented by:

          David M. Fournier, Esq.
          Evelyn J. Meltzer, Esq.
          Michael J. Custer, Esq.
          PEPPER HAMILTON LLP
          Hercules Plaza, Suite 5100
          1313 N. Market Street
          P.O. Box 1709
          Wilmington, DE 19899-1709
          Telephone: (302)777- 6500
          Facsimile: (302)421-8390
          Email: fournierd@pepperlaw.com
                 meltzere@pepperlaw.com
                 custerm@pepperlaw.com

             -- and --

          David G. Heiman, Esq.
          JONES DAY
          901 Lakeside Avenue
          Cleveland, OH 44114
          Telephone: (216)586-3939
          Facsimile: (216)579-0212
          Email: dgheiman@jonesday.com

             -- and --

          Gregory M. Gordon, Esq.
          Dan B. Prieto, Esq.
          JONES DAY
          2727 N. Harwood Street
          Dallas, TX 75201
          Telephone: (214)220-3939
          Facsimile: (214)969-5100
          Email: gmgordon@jonesday.com
                 dbprieto@jonesday.com

             -- and --

          Thomas A. Howley, Esq.
          Paul M. Green, Esq.
          JONES DAY
          717 Texas Suite 3300
          Houston, TX 77002
          Telephone: (832)239-3939
          Facsimile: (832)239-3600
          Email: tahowley@jonesday.com
                
                 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.



RECOVERY CENTERS: Balks at Committee Bid to Hire Accountant
-----------------------------------------------------------
Recovery Centers of King County is opposing the Unsecured
Creditors' Committee's proposal to retain accountant and broker.

The UCC wants to retain Richard Ginnis, a certified public
accountant, as accountant.  He will be compensated at $200 per
hour, he has not received any retainer.

According to the Debtor, the UCC appears to request employment of
an accountant to seek out alleged unknown potential additional
assets of the Debtor (presumably recoverable fraudulent transfers
or preference payments), which would be relevant in the event that
the Debtor's real estate does not ultimately generate sufficient
funds to pay 100% of claims.  However, according to the Debtor, the
stated desire alone does not support employment by the UCC of an
accountant at this time.

The UCC discusses only a general need to review "pre- and
post-petition financial matters," but cites no specific fact as to
why such a review is necessary or why it thinks there may be
additional assets to discover, other than a reference to disclosed
potential wage claimants.  However it is unclear how the potential
wage claims by former employees has anything to do with potential
assets, the Debtor tells the Court.

Further, according to the Debtor, a separate accountant for the UCC
is unnecessary as the Debtor would propose to provide access to its
records including the ability to confer and meet with its CFO,
Mary-Ann Taja, at the UCC's discretion, such that the Debtor's
prepetition financials would be readily available to the UCC.  The
Debtor's current executive director, Carole Hayes, has only been
with the company since January of 2015.  She has no apparent
disincentive to cooperate fully with turning over information to
the UCC, especially in light of the fact that she was not involved
in the bulk of its prepetition activities.

                      About Recovery Centers

Recovery Centers of King County -- http://www.rckc.org/-- provided
Central Seattle and South King County residents with a continuum of
care for those who suffer with alcoholism or other drug addiction.

RCKC filed a Chapter 11 case (Bankr. W.D. Wash. Case No. 15-13060)
on May 15, 2015.  

Judge Timothy W. Dore presides over the case.  The Debtor tapped
Jeffrey B Wells, Esq., at Wells and Jarvis, P.S., in Seattle, as
counsel.

The Debtor's Chapter 11 plan contemplates the sale of its real
estate located at 464 - 12th Ave S, Seattle, Washington, 1701 18th
Ave. S, Seattle, WA and 505 Washington Ave. S., Kent, Washington.
The Debtor will sell real property located at 464 12th Avenue, in
Seattle, Washington, to Low Income Housing Institute for $4.1
million.

Bank of America, N.A., is the Debtor's secured lender.

The U.S. Trustee for Region 18 appointed five creditors to serve in
the Official Unsecured Creditors Committee.  The Committee is
represented by Nagler Law Group, P.S.



RECOVERY CENTERS: Committee Proposes Chad Waldbaum as Broker
------------------------------------------------------------
The Unsecured Creditors' Committee in the Chapter 11 case of
Recovery Centers of King County asks the U.S. Bankruptcy Court for
the Western District of Washington for permission to retain Chad
Waldbaum as real estate broker, nunc pro tunc to the formation of
UCC on June 3, 2015.

The broker will review the proposed sales contemplated in the
Debtor's First Amended Plan and advise the UCC on matters
relating to the proposed sales.

Mr. Waldbaum will be compensated at his current rate of $450 per
hour.  He has agreed to cap fees at $4,000 per transaction reviewed
with a minimum of $2,000.

The Debtor is opposing the Committee's proposal to hire a broker

                      About Recovery Centers

Recovery Centers of King County -- http://www.rckc.org/-- provided
Central Seattle and South King County residents with a continuum of
care for those who suffer with alcoholism or other drug addiction.

RCKC filed a Chapter 11 case (Bankr. W.D. Wash. Case No. 15-13060)
on May 15, 2015.  

Judge Timothy W. Dore presides over the case.  The Debtor tapped
Jeffrey B Wells, Esq., at Wells and Jarvis, P.S., in Seattle, as
counsel.

The Debtor's Chapter 11 plan contemplates the sale of its real
estate located at 464 - 12th Ave S, Seattle, Washington, 1701 18th
Ave. S, Seattle, WA and 505 Washington Ave. S., Kent, Washington.
The Debtor will sell real property located at 464 12th Avenue, in
Seattle, Washington, to Low Income Housing Institute for $4.1
million.

Bank of America, N.A., is the Debtor's secured lender.

The U.S. Trustee for Region 18 appointed five creditors to serve in
the Official Unsecured Creditors Committee.  The Committee is
represented by Nagler Law Group, P.S.



RECOVERY CENTERS: Taps Fairchild for Disputed Wage Claims
---------------------------------------------------------
The Hon. Timothy W. Dore of the U.S. Bankruptcy Court for the
Western District of Washington authorized Recovery Centers of King
County to employ Jeffrey Fairchild as special counsel specifically
in relation to disputed wage claims by former employees.

Mr. Fairchild represents the Debtor in its state court litigation
surrounding the former employees' wage dispute, filed under cause
number 14-2-32248-8 SEA.  In addition to employing Mr. Fairchild to
handle the pending state court proceeding if need be, the Debtor
would likely seek his assistance as appropriate with claims
objections in the bankruptcy case stemming from the disputed wage
claims.

In his declaration, Mr. Fairchild said that he is owed some
prepetition fees and thus is a creditor.

                      About Recovery Centers

Recovery Centers of King County -- http://www.rckc.org/-- provided
Central Seattle and South King County residents with a continuum of
care for those who suffer with alcoholism or other drug addiction.

RCKC filed a Chapter 11 case (Bankr. W.D. Wash. Case No. 15-13060)
on May 15, 2015.  

Judge Timothy W. Dore presides over the case.  The Debtor tapped
Jeffrey B Wells, Esq., at Wells and Jarvis, P.S., in Seattle, as
counsel.

The Debtor's Chapter 11 plan contemplates the sale of its real
estate located at 464 - 12th Ave S, Seattle, Washington, 1701 18th
Ave. S, Seattle, WA and 505 Washington Ave. S., Kent, Washington.
The Debtor will sell real property located at 464 12th Avenue, in
Seattle, Washington, to Low Income Housing Institute for $4.1
million.

Bank of America, N.A., is the Debtor's secured lender.

The U.S. Trustee for Region 18 appointed five creditors to serve in
the Official Unsecured Creditors Committee.  The Committee is
represented by Nagler Law Group, P.S.



SABINE OIL: Files Chapter 11 After Failed Restructuring Talks
-------------------------------------------------------------
Sabine Oil & Gas Corp. sought Chapter 11 bankruptcy protection only
six months since its merger with Forest Oil Corp.

Before filing for bankruptcy, Sabine engaged in talks with
creditors but they weren't able to reach any agreement on the terms
of a restructuring.

Sabine drills for oil and gas in the Haynesville Shale in east
Texas and Louisiana, and the Eagle Ford Shale and the Granite Wash
in Texas.

Michael Magilton, senior vice president and CFO, explains in a
court filing that the Company's operations have been significantly
impacted by the recent and dramatic decline in oil prices, the
continued low prices of natural gas, and general uncertainty in the
energy market.  These macro-economic factors, coupled with the
Company's substantial debt obligations, have pushed the limits of
the Company's ability to sustain the weight of its capital
structure and devote capital needed to maintain and grow its
business.  The decline in the price of oil and natural gas has also
affected the Company's ability to effectuate certain asset sales
that could otherwise alleviate its increasing near-term liquidity
problems.

As a result of this confluence of factors, the Debtors -- like many
other similarly situated exploration and production companies --
had no choice but to commence the chapter 11 cases to implement
court-supervised restructurings of their outsized debt obligations,
thereby allowing them to move forward in a drastically changed
economic landscape.

The Company disclosed $2.48 billion in assets and $2.91 billion as
of May 31.

The Company said that during 2014 and continuing through the first
quarter of 2015, revenues fell sharply as a result of the
significant downturn in oil and natural gas prices, which were
caused in part by a surplus of domestic crude production coupled
with OPEC's decision not to reduce production quotas.

Other U.S. oil producers that have sought bankruptcy protection due
to the cheap oil prices are Quicksilver Resources, Saratoga
Resources, BPZ Resources, Dune Energy and American Eagle Energy
Corp.

                       Forest Oil Combination

The Company is the surviving business from the business combination
of Forest Oil Corporation and Sabine Oil & Gas LLC ("Old Sabine")
first announced in May 2014 and consummated in December 2014.
Forest Oil was founded in 1916 in Pennsylvania and was known for
inventing the "waterflooding" technique to initiate secondary
recovery of oil.  In contrast, Old Sabine was founded in 2007 and
primarily has been focused on shale oil and gas since its
inception.

Mr. Magilton says that notwithstanding certain anticipated
long-term cost savings and operational synergies resulting from the
combination, the significant decline in revenue paired with a
decreased borrowing base and increased debt capital structure,
including two additional notes issuances, resulting from the
combination strained the Debtors' liquidity and their ability to
meet their anticipated working capital, debt service, and other
liquidity needs.

On Feb. 26, 2015, the Company was served with a complaint
concerning the 2019 Notes Indenture.  The Complaint generally
alleges that certain events of default had occurred with respect to
the 2019 Notes due to the Combination.  More specifically, the
Complaint alleges that the Combination constituted a change of
control under the 2019 Notes Indenture that required the Company to
offer to purchase the 2019 Notes at 101 percent of the outstanding
principal, plus accrued and outstanding interest.  The Company also
received a notice of default and acceleration from the 2019 Notes
trustee with respect to the 2019 Notes containing similar
allegations.

In May 2015, the Board of Directors of Sabine established an
independent committee to conduct and oversee the investigation of
potential legal claims and causes of action that the Debtors and/or
certain of their stakeholders may possess against creditors and
equity holders related to or arising from the Forest Oil
combination.  The Investigation Committee, with the assistance of
its advisors, is continuing to investigate certain potential claims
that belong to the Debtors, including other fraudulent-transfer
theories and fiduciary-breach claims, that creditor groups have
threatened to pursue themselves.

                       Creditor Negotiations

Prior to the Petition Date, the Debtors engaged in discussions with
various creditor constituencies.  In connection with such
discussions, the Debtors entered into forbearance agreements with
first lien lenders and second lien lenders, and amendments thereto.
Additionally, the Debtors engaged in discussions with advisors for
various creditor constituencies regarding parties' views with
respect to valuation, debt capacity, potential pro forma capital
structures, and the effect of potential litigation claims on
potential creditor recoveries.

While productive, such discussions did not lead to a comprehensive
out-of-court solution or prearranged chapter 11 plan for
right-sizing the Debtors' balance sheet.  In light of the Debtors'
need for a comprehensive deleveraging and resolution of currently
pending litigation and potential claims, the Debtors determined to
commence these chapter 11 cases.  The Debtors hope and expect that
these discussions will continue and will provide the framework for
an efficient and effective consensual restructuring.

                    Prepetition Debt Obligations

As of June 30, 2015, the Debtors have outstanding prepetition debt
obligations of approximately $2.77 billion, consisting of:

  (a) $927 million of obligations under a revolving credit facility
pursuant to an Amended and Restated Credit Agreement, dated April
28, 2009, between Old Sabine as borrower, Wells Fargo Bank,
National Association, as successor administrative agent, the
lenders and other parties thereto.

  (b) $700 million of obligations under a second lien term loan
pursuant to a second lien term loan agreement dated Dec. 14, 2012,
by and among Old Sabine, as borrower, Bank of America, as
administrative agent, and the lender parties thereto.

  (c) $350 million of obligations under 9.75 percent senior
unsecured notes due 2017 (the "2017 Notes") co-issued in 2010 by
Old Sabine, formerly NFR Energy LLC, and Sabine Oil & Gas Finance
Corporation, formerly NFR Energy Finance Corporation.

  (d) $578 million under 7.25 percent senior unsecured notes due
2019 (the "2019 Notes") issued by Forest Oil in 2007 and 2008 and
governed under an indenture dated June 6, 2007, with Wilmington
Savings Fund Society, FSB, as successor indenture trustee to U.S.
Bank National Association.

  (e) $222 million under 7.5 percent senior unsecured notes due
2020 (the "2020 Notes") issued by Forest Oil pursuant to an
indenture dated Sept. 17, 2012, with Delaware Trust Company as
successor indenture trustee to U.S. Bank N.A.

On June 15, 2015, the Debtors elected not to make the $20.95
million interest payment on the 2019 notes.

Approximately 73.5 percent of the economic interests and 49.9
percent of the voting interest in Sabine are held by Sabine
Investor Holdings LLC, with the remainder owned by public
shareholders.

                         First Day Motions

The Debtors have filed a number of first day motions in the Chapter
11 cases seeking orders granting various forms of relief intended
to stabilize the Debtors' business operations, facilitate the
efficient administration of the Chapter 11 cases, and expedite a
swift and smooth restructuring of the Debtors' balance sheet.  

Mr. Magilton says the relief requested in the first day motions is
necessary to allow the Debtors to operate with minimal disruption
during the pendency of the Chapter 11 cases.

The Debtors are seeking approval to:

  -- jointly administer their Chapter 11 cases;
  -- hire Prime Clerk LLC as claims and noticing agent;
  -- tap professionals utilized in the ordinary course;
  -- use cash collateral and grant adequate protection;
  -- maintain their bank accounts;
  -- pay prepetition wages and benefits;
  -- make working interest disbursements and royalty payments;
  -- pay prepetition shipper and warehousemen claims;
  -- pay prepetition taxes and fees;
  -- prohibit utilities from discontinuing service;
  -- honor obligations under insurance policies;
  -- continue their surety bond program;
  -- authorize the rejection of certain contracts;
  -- set notification procedures for transfers of stock; and
  -- extend the time to file schedules and statements.

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

    http://bankrupt.com/misc/Sabine_1st_Day_Affidavit.pdf

                       About Sabine Oil & Gas

Sabine Oil & Gas Corp. is an independent energy company engaged in
the acquisition, production, exploration, and development of
onshore oil and natural gas properties in the U.S.  The Company's
current operations are principally located in the Cotton Valley
Sand and Haynesville Shale in East Texas, the Eagle Ford Shale in
South Texas, the Granite Wash in the Texas Panhandle, and the North
Louisiana Haynesville.  The Company operates, or has joint working
interests in, approximately 2,100 oil and gas production sites
(approximately 1,800 operating and approximately 315 non-operating)
and has approximately 165 full-time employees.

Sabine Oil and its affiliated entities sought Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 15-11835) in Manhattan on July 15,
2015.

The Debtors have engaged Kirkland & Ellis LLP and Kirkland & Ellis
International LLP, as counsel; Lazard Freres & Co. LLC, as
investment banker, and Prime Clerk LLC as notice, claims and
balloting agent.  The Debtors also tapped Zolfo Cooper Management,
LLC, to provide Jonathan A. Mitchell as CRO and other additional
personnel.


SABINE OIL: Moody's Cuts Probability of Default Rating to 'D-PD'
----------------------------------------------------------------
Moody's Investors Service downgraded Sabine Oil & Gas Corporation's
Probability of Default Rating (PDR) to D-PD from C-PD following the
company's announcement that it had filed voluntary petitions for
relief under Chapter 11 of the United States Bankruptcy Code in the
US Bankruptcy Court for the Southern District of New York to
facilitate the restructuring of its balance sheet. Moody's will
withdraw all ratings for the company in the near future.

Downgrades:

Probability of Default Rating, Downgraded to D-PD from C-PD

Ratings and outlook to be withdrawn in the near future:

Issuer: Sabine Oil & Gas Corporation

Corporate Family Rating, at C
Probability of Default Rating, at D-PD
Senior Unsecured Regular Bond/Debenture due 2019, at C(LGD5)
Senior Unsecured Regular Bond/Debenture due 2020, at C(LGD5)
Speculative Grade Liquidity Rating, at SGL-4

Issuer: Sabine Oil & Gas LLC

Senior Secured Bank Credit Facility, at C(LGD5)
Senior Unsecured Regular Bond/Debenture due 2017, at C(LGD5)

Issuer: Sabine Oil & Gas Corporation

Outlook, Negative

RATINGS RATIONALE

A bankruptcy filing by Sabine has resulted in its PDR being changed
to D-PD. No action has been taken on any of the other ratings since
the rating action taken on May 22, 2015 already incorporated the
company's limited default, potential to file for bankruptcy, and
Moody's view on the potential recoveries for each security. Shortly
following this rating action, Moody's will withdraw Sabine's
ratings.

Sabine Oil & Gas Corporation is an independent exploration and
production company headquartered in Houston, Texas.



SABINE OIL: Receives Court Approval of First Day Motions
--------------------------------------------------------
Sabine Oil & Gas Corporation on July 16 disclosed that the Company
has received approval from the United States Bankruptcy Court for
the Southern District of New York for a variety of First Day
motions related to its voluntary Chapter 11 restructuring.
Collectively, the First Day orders issued by the Court on either an
interim or final basis will help Sabine continue operating its
business in the ordinary course as it seeks to restructure its
balance sheet.

"The Court's approval of the First Day motions represents an
important, positive step forward in our efforts to strengthen
Sabine's financial condition," said David Sambrooks, President and
Chief Executive Officer of Sabine.  "With these approvals, Sabine
will continue operating and funding its business operations in the
ordinary course.  Our objective moving forward is to strengthen our
Company's capital structure and address our balance sheet, allowing
us to operate more efficiently in the future, and ultimately, make
us a stronger business partner going forward."

The Court approved motions that give Sabine authority to, among
other things, pay employee wages and benefits without interruption
throughout the financial restructuring process, access its cash and
cash collateral and continue its current cash management system,
continue making royalty payments, and continue paying claims to
certain of the Company's oil and gas vendors.  As of the filing
date, the Company had a cash balance of approximately $253 million,
which provides substantial liquidity to fund its current
operations.

As previously announced, on July 15, 2015, Sabine filed voluntary
petitions for relief under Chapter 11 to facilitate the
restructuring of its balance sheet.  Sabine continues to evaluate
and discuss alternatives with its stakeholders and believes that
its in-court financial restructuring will position Sabine for
profitability and long-term success.

Additional information about Sabine's restructuring is available at
http://www.sabineoil.com/restructuring-info/

Court filings and other information related to the restructuring
proceedings are available at a website administered by the
Company's claims agent, Prime Clerk, at
https://cases.primeclerk.com/sabine


              About Sabine Oil & Gas Corporation

Sabine Oil & Gas Corporation -- http://www.sabineoil.com-- is an
independent energy company engaged in the acquisition, production,
exploration and development of onshore oil and natural gas
properties in the United States.  Sabine's current operations are
principally located in the Cotton Valley Sand and Haynesville Shale
in East Texas, the Eagle Ford Shale in South Texas, the Granite
Wash in the Texas Panhandle and the North Louisiana Haynesville.



SABINE OIL: S&P Withdraws 'D' Corporate Credit Rating
-----------------------------------------------------
Standard & Poor's Rating's Service withdrew its ratings on North
American oil and gas exploration and production (E&P) company
Sabine Oil & Gas Corp., including its 'D' corporate credit rating
and 'D' issue-level ratings on the company's first-lien credit
facility, second-lien term loan, and unsecured notes.

"We withdrew the ratings because the original default occurred more
than 30 days ago and we have no expectation of raising the rating
over the near term," said Standard & Poor's credit analyst Aaron
McLean.

S&P had lowered its corporate credit rating and issue-level ratings
to 'D' on April 22, 2015, following the company's failure to pay
interest on its second-lien term loan.



SABINE OIL: Still In Talks With Lenders on Consensual Restructuring
-------------------------------------------------------------------
Sabine Oil & Gas Corporation on July 15 disclosed that it has filed
voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code in the U.S. Bankruptcy Court for the
Southern District of New York to facilitate the restructuring of
its balance sheet.  Sabine continues to engage in constructive
discussions with its lenders and debt holders regarding the terms
of a consensual financial restructuring plan and is focused on
achieving a resolution as expeditiously as possible.  

David Sambrooks, President and Chief Executive Officer of Sabine,
said, "The actions we are announcing today represent an important
step forward in our efforts to strengthen the Company's capital
structure.  Following a comprehensive review of our alternatives,
the Board of Directors and management team determined that this
process would produce the best outcome for Sabine and its
stakeholders.  Undertaking this process provides an orderly path
forward to better align the Company's balance sheet with changing
market dynamics."   

Mr. Sambrooks continued, "We remain committed to maintaining
operational excellence and executing within our current strategy
– and importantly, we fully expect to continue operating in the
ordinary course.  We want to thank our employees for their
continued dedication during this time as well as our service
providers and suppliers for their ongoing support.  We intend to
emerge with increased financial flexibility and a sustainable
capital structure that will enable us to devote capital to grow our
business."

The Company expects that its cash on hand, combined with funds
generated from ongoing operations, will provide sufficient
liquidity to support the business during the balance sheet
restructuring process.

Like many other exploration and production companies, Sabine's
operations have been significantly impacted by the recent and
dramatic decline in oil prices, the continued low prices of natural
gas, and general uncertainty in the energy market.  These
macro-economic factors, coupled with Sabine's substantial debt
obligations, resulted in the Company's decision to explore
strategic restructuring alternatives to reduce its debt and achieve
a sustainable capital structure.  Sabine continues to evaluate and
discuss alternatives with its stakeholders and believes that its
in-court financial restructuring will position Sabine for
profitability and long-term success.

Court filings and other information related to the restructuring
proceedings are available at a website administered by the
Company's claims agent, Prime Clerk, at
https://cases.primeclerk.com/sabine

Lazard is serving as financial advisor to Sabine, and Kirkland &
Ellis LLP is serving as legal counsel.

              About Sabine Oil & Gas Corporation

Sabine Oil & Gas Corporation -- http://www.sabineoil.com-- is an
independent energy company engaged in the acquisition, production,
exploration and development of onshore oil and natural gas
properties in the United States.  Sabine's current operations are
principally located in the Cotton Valley Sand and Haynesville Shale
in East Texas, the Eagle Ford Shale in South Texas, the Granite
Wash in the Texas Panhandle and the North Louisiana Haynesville.  


SANTA CRUZ BERRY: Creditors' Panel Hires Fox Rothschild as Counsel
------------------------------------------------------------------
The Official Committee of Unsecured Creditors of Santa Cruz Berry
Farming Company, LLC seeks authorization from the Hon. M. Elaine
Hammond of the U.S. Bankruptcy Court for the Northern District of
California to retain Fox Rothschild LLP as counsel to the
Committee.

The Committee requires Fox Rothschild to:

   (a) advise regarding bankruptcy law;

   (b) advise with respect to the Committee's powers and duties in

       the Debtor's bankruptcy case;

   (c) attend Committee meetings;

   (d) review financial information furnished by the Debtor to the

       Committee and investigating various potential claims;

   (e) assist in the investigation of the acts, conduct, assets,
       liabilities and financial condition of the Debtor;

   (f) provide aid and assistance in monitoring the progress of
       the Debtor and administration of this Chapter 11 case;

   (g) advise and assist the Committee in understanding the
       Debtor's ongoing operations;

   (h) advise and assist the Committee in understanding the value
       of the Debtor's assets;

   (i) advise, and negotiate on behalf of, the Committee as to
       debtor-in-possession financing, exit financing, and any
       other form of financing the Debtor may require in this case

       or in connection with any plan or plans of reorganization;

   (j) negotiate, draft and pursue confirmation of a plan of
       reorganization and approval of a disclosure statement or
       statements, whether proposed by the Debtor, the Committee,
       or any other party in interest;

   (k) review and analyze the validity of liens against assets of
       the estate;

   (l) prepare, on behalf of the Committee, any necessary
       applications, motions, oppositions, complaints, answers,
       orders, reports, and other legal papers related to the
       foregoing duties;

   (m) appear in Court and protect the interests of the Committee
       before the Court in connection with the foregoing duties;

   (n) monitor the conduct of the case to ensure that the Debtor's

       actions in the case promote the best interest of its
       unsecured creditors;

   (o) advise as to the possible appointment of a Chapter 11
       trustee or examiner if such becomes appropriate;

   (p) participate, as appropriate, in main case discovery (2004
       Examinations) and adversary proceedings initiated by other
       parties as necessary to protect the interests of the
       Committee;

   (q) object to claims asserted against the estate as and if
       appropriate;

   (r) if so directed by the Debtor, a subsequently-appointed
       Chapter 11 trustee, or order of the Court, prosecuting any
       cause of action held by the estate; and

   (s) perform all the legal services for the Committee that may
       be necessary and proper in furtherance of the foregoing
       duties or other matters provided for in Section 1103(c)
       of the Bankruptcy Code.

Fox Rothschild will be paid at these hourly rates:

       Michael A. Sweet, Partner       $575
       Dale L. Bratton, Counsel        $505
       Audrey Noll, Counsel            $530
       John H. Strock, Associate       $425
       Jack C. Praetzellis, Associate  $330
       Paralegals & Law Clerks         $145-$345

Fox Rothschild will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Michael A. Sweet, partner of Fox Rothschild, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Fox Rothschild can be reached at:

       Michael A. Sweet, Esq.
       FOX ROTHSCHILD LLP
       345 California Street, Suite 2200
       San Francisco, CA 94104
       Tel: (415) 364-5540
       Fax: (415) 391-4436
       E-mail: msweet@foxrothschild.com

                   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.


SEADRILL LTD: 2021 Bank Debt Trades at 25% Off
----------------------------------------------
Participations in a syndicated loan under which Seadrill Ltd. is a
borrower traded in the secondary market at 75.17 cents-on-the-
dollar during the week ended Friday, July 10, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
the July 14, 2015, edition of The Wall Street Journal.  This
represents a decrease of 0.33 percentage points from the previous
week, The Journal relates. Seadrill Ltd. pays 300 basis points
above LIBOR to borrow under the facility.  The bank loan matures on
February 17, 2021, and carries Moody's Ba3 rating and Standard &
Poor's BB- rating.  The loan is one of the biggest gainers and
losers among 256 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended July 10.




SILICON GENESIS: Cash Use FirstHand Cash Collateral
----------------------------------------------------
Judge M. Elaine Hammond of the U.S. Bankruptcy Court for the
Northern District of California, San Jose Division, issued a
stipulated order authorizing Silicon Genesis Corporation to use
cash collateral to pay up to $50,000 in costs that must be incurred
to fulfill a purchase order for a used rT-CCP cleaving tool
received from SunEdison Semiconductor LLC.

The Debtor filed a motion seeking authority to use cash collateral.
Firsthand Technology Value Fund, Inc., which asserts a security
interest in the Debtor's cash collateral and certain other assets,
including equipment, opposed the motion, telling the Court that
certain amounts of funds were provided for professionals in the
cash collateral budget on the premise that the discovery requested
by Firsthand would be forthcoming.  Until the requests have been
complied with fully, and Firsthand has had sufficient time to
review and investigate the discovery, it respectfully requests the
motion for use of cash collateral to be denied, FirstHand said.

The Debtor's counsel, Todd B. Holvick, Esq., at Schnader Harrison
Segal & Lewis LLP, in San Francisco, California, relates that in
the course of the trial over use of cash collateral, Firsthand
contended that the used rT-CCP cleaving tool SunEdison seeks to
purchase was worth $25,000 in a forced liquidation sale.  He
further tells the Court that after accounting for the
reconditioning/reconfiguration costs, the value of the rT-CCP
cleaving tool will be increased by approximately $620,000 over what
Firsthand claims it is worth.  He says increase in value is more
than sufficient to provide adequate protection of Firsthand's
interest in the cash collateral proposed to be expended.

The Debtor and FirstHand entered into the stipulation allowing the
Debtor to use cash collateral to a limited extent.

The Debtor is represented by:

          Kevin W. Coleman, Esq.
          Todd B. Holvick, Esq.
          SCHNADER HARRISON SEGAL & LEWIS LLP
          650 California Street, 19th Floor
          San Francisco, California 94108
          Telephone: (415)364-6700
          Facsimile: (415)364-6785
          Email: kcoleman@schnader.com
                 tholvick@schander.com

Firsthand is represented by:

          Kathryn S. Diemer, Esq.
          DIEMER, WHITMAN & CARDOSI, LLP
          75 E. Santa Clara Street, Suite 290
          San Jose, California 95113
          Telephone: (408)971-6270
          Facsimile: (408)971-6271

                  About Silicon Genesis

Silicon Genesis Corporation filed a Chapter 11 bankruptcy
petition
 (N.D. Cal. Case No. 15-50525) on Feb. 17, 2015.
Theodore E. Fong,
 president and CEO, signed the petition.



Judge Elaine Hammond presides over the case.  Kevin W. Coleman,

Esq., Schnader Harrison Segal and Lewis LLP represents the
Debtor 
as counsel.



The Debtor disclosed $16,559,802 in assets and $7,951,043 in

liabilities.



SIMPLY FASHION: Committee Gets Approval to File Claims vs. Shah
---------------------------------------------------------------
Simply Fashion Stores Ltd.'s official committee of unsecured
creditors received court approval to prosecute claims on behalf of
the Birmingham-based urban fashion retailer.

The order, issued by U.S. Bankruptcy Judge Laurel Isicoff, allowed
the unsecured creditors' committee to file claims against Swapnil
Shah, chief executive officer of Simply Fashion, and affiliates of
the retailer.

                    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.


SUNOCO LP: Moody's Assigns 'Ba3' Rating to New $500-Mil. Notes
--------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to Sunoco LP's
proposed $500 million note offering. SUN's Ba2 Corporate Family
Rating, Ba2-PD Probability of Default Rating and SGL-3 Speculative
Grade Liquidity rating is unchanged. Additionally, the Ba3 rating
of the company's existing senior unsecured notes is also unchanged.
The rating outlook remains stable. The proceeds of the offering
will be used to partially fund the consideration for the asset
dropdown of Susser Holdings Corporation's ("SHC") retail assets
into Susser Petroleum Property Co. LLC, a wholly owned subsidiary
SUN from its general partner Energy Transfer Partners, L.P.
("ETP"). The remaining portion of the approximately $1.94 billion
transaction will be funded through a combination of revolver
borrowings and issuance of approximately $967 million in new SUN
units to ETP. ETP acquired SHC in August 2014.

"The proposed transaction continues the anticipated process of
financing the separation of the retail motor fuels business from
Energy Transfer Partners, L.P. (ETP, Baa3 stable) into SUN in a
tax-efficient manner," commented Mickey Chadha, Senior Analyst at
Moody's Investors Service. "Through 2016, in a series of sequenced
asset dropdowns, ETP intends to contribute all of the remaining
retail and wholesale assets to SUN and we continue to expect future
dropdowns to be financed with a balanced mix of debt and equity
with debt leverage falling to 4.0 times or lower once the planned
asset dropdowns have been completed", Chadha further stated.

The following ratings are assigned:

  Proposed new $500 million senior unsecured notes maturing 2020 at
Ba3 (LGD5)

The following ratings are unchanged:

  Corporate Family Rating at Ba2
  Probability of Default Rating at Ba2-PD
  $800 mil. senior unsecured notes maturing 2023 at Ba3(LGD5)
  Speculative Grade Liquidity Rating, at SGL-3

Rating Rationale

The Ba2 Corporate Family Rating (CFR) reflects the growing size,
scale and geographic reach of SUN's wholesale and retail motor
fuels business through the sequenced dropdown of assets from its
general partner and ETP, as well as prospectively improving credit
metrics. While a planned sequencing of asset dropdowns into SUN
adds structural complexity we expect the company to complete this
expansion strategy methodically and successfully. SUN's earnings
stream is likely to evidence resilience to cyclical economic
conditions reflecting relatively stable consumer demand for motor
fuels and value priced convenience items. The ratings are
constrained by the execution risk associated with the rapid growth
trajectory and continuing acquisition appetite on the part of SUN
and its general partner, as well as the incremental complexity and
calls on cash flow characterizing SUN's MLP structure, a structure
typically not shared by competing motor fuels retailers. The
ratings are also constrained by the company's susceptibility to
swings in profitability due to the volatility in fuel volumes and
prices.

SUN's proposed senior unsecured notes are rated Ba3, one notch
below its Ba2 CFR, reflecting their effective subordination to the
company's senior secured revolving credit facility under Moody's
Loss Given Default (LGD) Methodology.

The stable outlook continues to reflect Moody's expectation that
ETP will successfully execute on its dropdown strategy to grow the
size and scope of SUN's motor fuels footprint, financing this
growth with a balanced mix of debt and equity while maintaining
debt leverage in a 4.0x-4.5x range during the dropdown period. Once
the planned asset dropdowns have been completed, Moody's expect
debt leverage to subside to levels falling consistently to 4.0
times or below. Moody's expects interest coverage to exceed 5.0
times.

Presuming a well-executed growth trajectory, an upgrade could be
considered should debt/EBITDA improve to a sustained level of 3.0
times or below.

Deterioration in operating performance resulting in weakening of
liquidity or credit metrics could result in a downgrade. Growth
strategy that negatively impacts liquidity or metrics could also
pressure ratings. Ratings could be downgraded if debt/EBITDA is
sustained above 4.0 times following the two-year dropdown period
expected to end in 2016.

Sunoco LP is a publicly traded master limited partnership (MLP)
primarily engaged in wholesale distribution of motor fuels and
operating convenience stores. At the end of 2016 the company will
operate over 6,500 convenience stores in 30 states.



SUNOCO LP: S&P Assigns 'BB' Rating on New $500MM Unsecured Notes
----------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BB'
issue-level rating and '4' recovery rating to Sunoco L.P. and
Sunoco Finance Corp.'s proposed $500 million senior unsecured notes
due 2020.  The '4' recovery rating reflects S&P's expectation of
average (30% to 50%; in the lower half of the range) recovery if a
default occurs.  The partnership intends to use net note proceeds
to fund the pending Susser Holdings Corp. acquisition.  As of March
31, 2015, Sunoco had about $870 million of reported debt on a
stand-alone basis.  Sunoco is a publicly traded U.S. master limited
partnership focused in the wholesale and retail gasoline business.

Ratings List

Sunoco L.P.
Corporate Credit Rating                       BB/Stable/--

New Rating

Sunoco L.P.
Sunoco Finance Corp.
$500 mil sr unsecd notes due 2020             BB
  Recovery Rating                              4L



TELX GROUP: S&P Puts 'B-' CCR on CreditWatch Positive
-----------------------------------------------------
Standard & Poor's Ratings Services said it placed its ratings,
including its 'B-' corporate credit rating, on New York City-based
The Telx Group Inc. on CreditWatch with positive implications.

"The CreditWatch placement follows the announcement that Telx has
entered into a definitive agreement to be acquired by Digital
Realty in a transaction valued at approximately $1.886 billion,"
said Standard & Poor's credit analyst Michael Altberg.

"We expect all existing debt at Telx to be repaid upon the
completion of the transaction," he added.

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



TERRA-GEN FINANCE: S&P Affirms 'B+' Corporate Credit Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
corporate credit rating on Terra-Gen Finance Co. LLC (TGF).  At the
same time, S&P affirmed its 'BB-' issue-level rating and '2'
recovery rating on the company's $300 million senior secured term
loan B due 2021 and $25 million revolving credit facility due 2019.
The '2' recovery rating indicates "substantial" (70% to 90%; upper
half of the range) recovery if a default occurs.  The outlook is
stable.

"The stable outlook reflects our view that the change in ownership
will not affect the company's operations," said Standard & Poor's
credit analyst Trevor D'Olier-Lees.

TGF's parent Terra-Gen Power LLC (TGP) announced that it has
entered into an agreement with affiliates of Energy Capital
Partners (ECP) to sell the bulk of its assets, including TGF.  The
transaction is expected to close in third-quarter 2015 after
various conditions are met that are precedent to this sale,
including an approval from the Federal Energy Regulatory
Commission.  After the sale, existing management and the operations
team will continue to manage and operate the assets.

A new entity, Terra-Gen LLC, will be formed as a subsidiary of TGP.
TGP's ownership of TGF as well as the various other business lines
currently held by TGP included in the sale will then be transferred
to Terra-Gen LLC.  Finally, the membership interests in Terra-Gen
LLC will be sold to ECP.  With this, Terra-Gen LLC will become the
new parent company of TGF and it will then provide a pledge of its
membership interests in TGF to the lenders.  The existing pledge
from TGP will be terminated.

S&P rates TGF based on the consolidated credit profile of its
indirect parent, Terra-Gen Power Holdings (the parent of TGP).  As
contemplated, the transaction is neutral to TGF's credit quality.
There are no changes to assessments of TGF under S&P's Corporate
Methodology and S&P's forecast has not changed.  Furthermore, S&P
continues to assess financial policy as "neutral" under ECP, which
S&P considers to be an infrastructure fund sponsor.

The stable outlook reflects S&P's expectation of fairly predictable
revenues driven by TGF's highly contracted revenue coming from
operating renewable assets and the company's position in
California.  Under S&P's base case forecast, it expects that FFO to
total debt and total debt to EBITDA will improve to 9.1% and 6.7x,
respectively, in 2016 from 6.4% and 8.3x, respectively, in 2015.
S&P expects financial measures to continue to improve over time as
the company pays down debt with excess cash.



TERVITA CORP: Bank Debt Trades at 7% Off
----------------------------------------
Participations in a syndicated loan under which Tervita Corp is a
borrower traded in the secondary market at 92.95 cents-on-the-
dollar during the week ended Friday, July 10, 2015, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
the July 14, 2015, edition of The Wall Street Journal.  This
represents a decrease of 0.59 percentage points from the previous
week, The Journal relates. Tervita Corp pays 500 basis points above
LIBOR to borrow under the facility.  The bank loan matures on
January 24, 2018, and carries Moody's B3 rating and Standard &
Poor's B- rating.  The loan is one of the biggest gainers and
losers among 256 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended July 10.



VARIANT HOLDING: Judge Denies Payment of Claims from Sale Proceeds
------------------------------------------------------------------
A federal judge denied a request by Variant Holding Company LLC's
chief executive officer and several other claimants who sought
payments from the proceeds of the sale of its non-debtor
subsidiaries.

The claimants in April asked U.S. Bankruptcy Judge Brendan Shannon
to force Variant Holding to pay back the money that its non-debtor
subsidiaries received and used to pay their contractors and
suppliers.

The claimants had said the payments were made to protect their
interests in the real estate assets owned by the company's
non-debtor subsidiaries.

Variant Holding and its secured creditor Beach Point Capital
Management LP opposed the payment, saying it would violate the
terms of their settlement agreement.

Under the agreement, Variant Holding CEO Courtland Gettel and the
other claimants won't receive any proceeds from the sale unless
there is approval from the secured creditor.

Meanwhile, Snowdon Partners Properties 15 LLC, one of the largest
unsecured creditors of Variant Holding, called for discovery on
issues raised by the claimants, court filings show.

                      About Variant Holding

Variant Holding Company, LLC, commenced bankruptcy proceedings
under Chapter 11 of the U.S. Bankruptcy Code in Delaware (Case No.
14-12021) on Aug. 28, 2014, without stating a reason.

Tucson, Arizona-based Variant Holding estimated $100 million to
$500 million in assets and less than $100 million in debt.

The Debtor has tapped Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, as counsel.

Members holding the majority of the interests in the company,
namely Conix WH Holdings, LLC, Conix Inc., Numeric Holding Company,
LLC, Walkers Dream Trust, and Variant Royalty Group, LP, signed the
resolution authorizing the bankruptcy filing.


WALTER ENERGY: Case Summary & 50 Largest Unsecured Creditors
------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                      Case No.
      ------                                      --------
      Walter Energy, Inc.                         15-02741
         aka Walter Industries, Inc.
      3000 Riverchase Galleria, Suite 1700
      Birmingham, AL 35244-2359
  
      Jim Walter Resources, Inc.                  15-02743
      Walter Coke, Inc.                           15-02744
      SP Machine, Inc.                            15-02746
      Atlantic Development & Capital, LLC         15-02747
      Blue Creek Coal Sales, Inc.                 15-02750
      Taft Coal Sales & Associates, Inc.          15-02751
      Blue Creek Energy, Inc.                     15-02752
      Tuscaloosa Resources, Inc.                  15-02753
      V Manufacturing Company                     15-02754
      J.W. Walter, Inc.                           15-02755
      Walter Black Warrior Basin, LLC             15-02756
      Walter Exploration & Production LLC         15-02757
      Walter Energy Holdings, LLC                 15-02758
      Jefferson Warrior Railroad Company Inc.     15-02759
      Walter Home Improvement, Inc.               15-02760
      Walter Land Company                         15-02761
      Jim Walter Homes, LLC                       15-02762
      Walter Minerals, Inc.                       15-02763
      Maple Coal Co., LLC                         15-02764
      Walter Natural Gas, LLC                     15-02765
      Sloss-Sheffield Steel & Iron Company        15-02766
      Atlantic Leaseco, LLC                       15-02773       

Type of Business: Producer and exporter of metallurgical coal for
                  the global steel industry from underground and
                  surface mines with mineral reserves located in
                  the United States, Canada and the United  
                  Kingdom.

Chapter 11 Petition Date: July 15, 2015

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

Judge: Hon. Tamara O Mitchell

Debtors'          Stephen J. Shimshak, Esq.
Counsel:          Kelley A. Cornish, Esq.
                  Claudia R. Tobler, Esq.
                  Ann K. Young, Esq.
                  Michael S. Rudnick, Esq.
                  PAUL, WEISS, RIFKIND, WHARTON & GARRISON
                  1285 Avenue of the Americas
                  New York, NY 10019
                  Tel: (212) 373-3000
                  Email: sshimshak@paulweiss.com
                         kcornish@paulweiss.com
                         ctobler@paulweiss.com
                         ayoung@paulweiss.com
                         mrudnick@paulweiss.com

Debtors'          Patrick Darby, Esq.
Co-Counsel:       Jay Bender, Esq.
                  Cathleen Moore, Esq.
                  James Bailey, Esq.
                  BRADLEY ARANT BOULT CUMMINGS LLP
                  One Federal Place
                  1819 Fifth Avenue North
                  Birmingham, AL 35203
                  Tel: (205) 521-8000
                  Email: pdarby@babc.com
                         jbender@babc.com
                         jbailey@babc.com
                         ccmoore@babc.com

Debtors'          OGLETREE DEAKINS LLP
Labor &
Employment
Counsel:

Debtors'          MAYNARD, COOPER & GALE, P.C.
Special
Counsel:

Debtors'          BLACKSTONE ADVISORY SERVICES, L.P.
Investment
Banker:

Debtors'          ALIXPARTNERS, LLP
Financial
Advisor:

Debtors'          KURTZMAN CARSON CONSULTANTS LLC
Claims,
Notice &
Balloting
Agent:

Steering          Ira Dizengoff, Esq.
Committee's       AKIN GUMP STRAUSS HAUER & FELD LLP
Legal             One Bryant Park
Advisor:          New York, NY 10036
                  Tel: 212-872-8076
                  Email: idizengoff@akingump.com

                     - and -
       
                  Kristine Manoukian, Esq.
                  AKIN GUMP STRAUSS HAUER & FELD LLP
                  One Bryant Park
                  New York, NY 10036
                  Tel: 212-872-8076
                  Email: kmanoukian@akingump.com

                     - and -

                  James Savin, Esq.
                  AKIN GUMP STRAUSS HAUER & FELD LLP
                  1333 New Hampshire Ave NW
                  Washington, DC 20036
                  Tel: 202-887-4000
                  Email: jsavin@akingump.com

Steering          LAZARD FRERES & CO. LLC
Committee's
Financial
Advisor:

Total Assets: $5.2 billion as of March 31, 2015

Total Debts: $5 billion as of March 31, 2015

The petition was signed by William Harvey, executive vice president
and chief financial officer.

List of Debtor's 50 Largest Unsecured Creditors:

   Entity                          Nature of Claim  Claim Amount
   ------                          ---------------  ------------
Wilmington Trust, N.A.              Unsecured Debt  $450,000,000
Lynn. M. Steiner
Vice President, Global
Capital Markets
50 S. 6th Street, Suite 1290
Minneapolis, MN 55402
Tel: (612) 217-5667
Fax: (612) 217-5651
Email: lsteiner@wilmingtontrust.com

Wilmington Trust, N.A.              Unsecured Debt   $388,000,000
Lynn. M. Steiner
ice President, Global
Capital Markets
50 S. 6th Street, Suite 1290
Minneapolis, MN 55402
Tel: (612) 217-5667
Fax: (612) 217-5651
Email: lsteiner@wilmingtontrust.com

Joy Global Underground Mining LLC         Trade        $1,342,707
4111 North Watertower Place
Suite B Mount Vernon, IL 62864

Alabama State Port Authority              Trade        $1,152,798
P O Drawer 1588
Mobile, AL 36633

Mayer Electric Supply                     Trade          $471,756
P.O. Box 2153
Birmingham, AL 35287-1440

Cowin & Company                           Trade          $465,950
P.O. Box 19009
Birmingham, AL 35219

Consolidated Pipe & Supply Co.            Trade          $378,404
P.O. Box 2472
Birmingham, AL 35201

Brockhouse Group Limited                  Trade          $310,762
Howard Street, Hill Top
West Midlands, B70 OSN

Pioneer Conveyor, LLC                     Trade          $267,955
P.O. Box 2446
Mt. Lake Park, MD 21550

Parker Towing Company, Inc.               Trade          $256,455
P.O. Box 20908
Tuscaloosa, AL 35402-0908

Hager Oil Company Inc.                    Trade          $230,201

Kaman Industrial Technologies             Trade          $220,771

Thompson Tractor Co. Inc.                 Trade          $194,820

Industrial Mining Supply, Inc.            Trade          $194,287

Kronos Incorporated                       Trade          $155,285

Jim House & Associates, Inc.              Trade          $134,047

Eickhoff Corporation                      Trade          $130,024

Safety Solutions Inc.                     Trade          $112,892

Sandvik Mining & Construction, LLC        Trade          $112,546

Pardee Minerals, LLC                      Trade          $112,501

Heintzmann Corporation                    Trade          $105,680

Carroll Enginnering Company               Trade          $103,555

Layne Christensen Company                 Trade           $94,763

Jones Heaing, A/C and Plumbing Inc.       Trade           $91,136

United Central Industrial                 Trade           $85,921

National Belt Service Inc.                Trade           $83,031

Southeast Fabricators Inc.                Trade           $82,820

Petroleum Products, Inc.                  Trade           $79,820

Hager Equipment Co. of Al, Inc.           Trade           $78,227

Siemens Industry, Inc.                    Trade           $77,716

Birmingham Rail & Locomotive Co.          Trade           $77,148

Rockwood Casualty Insurance Company       Trade           $74,672

Nelson Brothers LLC                       Trade           $70,853

Hibbs Electric, Inc.                      Trade           $69,180

Alabama Sling Center                      Trade           $68,545

Mato Corporation                          Trade           $64,948

Kykenkee, Inc.                            Trade           $63,596

AL Power Company                          Trade           $58,434

IT Convergence                            Trade           $57,758

Lee Hect Harrison LLC                     Trade           $56,000

Jennmar Corporation                       Trade           $54,086

R3 Steel                                  Trade           $49,173

Horton Contruction & Fabrication          Trade           $48,524

Quaker Chemical Corporation               Trade           $46,418

Bama Mine & Mill, Inc.                    Trade           $45,991

Mike Dover Corp.                          Trade           $44,957

Little Creek Dock, LLC                    Trade           $43,784

Shook & Fletcher Supply Company           Trade           $43,341

Internal Revenue Service               Litigation    Undetermined

Pension Benefit Guaranty Corporation     Pension     Undetermined


WAND INTERMEDIATE: S&P Retains 'B+' Rating on 1st Lien Loan
-----------------------------------------------------------
Standard & Poor's Ratings Services said that its 'B+' issue-level
rating and '2' recovery rating on Wand Intermediate I L.P.'s
first-lien term loan due 2021 and its 'CCC+' issue-level rating and
'6' recovery rating on the company's second-lien term loan due 2022
are unchanged following Wand's announcement of a $25 million add-on
to each term loan.  The '2' recovery rating on the first-lien term
loan indicates S&P's expectation of substantial (70%-90%; lower
half of the range) recovery in the event of a default. The '6'
recovery rating on the second-lien term loan indicates S&P's
expectation of negligible (0%-10%) recovery in the event of a
default.  S&P's 'B' corporate credit rating and stable outlook on
Wand Intermediate also remain unchanged.

The company will use the proceeds from these add-ons to fund its
acquisition of Kadel's Auto Body LLC.

S&P's assessment of Wand's business risk profile reflects the
company's economically resilient business model.  However, the
firm's aggressive expansion strategy, which entails some
integration risk, and its relatively narrow scope, scale, and
diversity (the company only conducts business in certain locales in
the U.S. and only offers collision repair services) offset this
resilience somewhat.

S&P's assessment of Wand's financial risk profile is based on S&P's
expectation that the company's leverage will remain above 5x
because it will continue to make acquisitions and face risks
associated with integrating them.  This is partly offset by the
company's negative working capital position.

S&P still believes that the company's track record of successfully
integrating its acquired repair centers over the past several years
demonstrates its ability to move forward with its market
consolidation strategy; however, S&P will continue to monitor the
consolidated enterprise's performance going forward--particularly
with respect to whether it maintains or improves its current gross
margins and whether it is generating positive free operating cash
flow (FOCF).

RECOVERY ANALYSIS

Key analytical factors

S&P previously completed a recovery analysis and assigned
issue-level and recovery ratings on Wand Intermediate I L.P.'s
existing first-lien revolving credit facility and first- and
second-lien term loans.  The existing issue-level and recovery
ratings remain unchanged following the add-ons to the first- and
second-lien term loans.  S&P's simulated default scenario envisions
a payment default in 2018 as a result of a combination of the
following: an inability to successfully integrate acquisitions;
operational missteps that weaken the company's relationships with
key insurance carriers such that it loses its status in the direct
repair programs; increased pressure from insurance companies to
further reduce the prices of aftermarket and replacement parts; and
new regulatory or legal requirements (for example, the National
Stolen Passenger Motor Vehicle Information System) that result in
increased compliance costs or decreased product demand. Other key
assumptions include: an increase in LIBOR to 250 basis points
(bps); a fully drawn $70 million revolving credit facility at
default to reflect the possibility of drawdowns for ongoing
acquisitions (consistent with historical usage under the revolver);
a 125 bps increase in the margin on the first-lien credit
facilities as a result of credit deterioration; and all debt
outstanding at default includes six months of accrued interest.

Simulated default assumptions:

   -- Simulated year of default: 2018
   -- EBITDA at emergence: $55.0 million
   -- EBITDA multiple: 6.0x

Simplified waterfall:

   -- Gross enterprise value: $330 million
   -- Administrative expenses: $17 million
   -- Net enterprise value: $314 million
   -- Valuation split (obligors/nonobligors): 100%/0%
   -- Priority claims: $1 million
   -- Value available to first-lien debt
      (collateral/noncollateral): $312 million/$0
   -- Secured first-lien debt claims: $429 million
      -- Recovery expectations: 70%-90% (lower half of the range)
   -- Secured second-lien debt claims: $161 million
      -- Recovery expectations: 0%-10%

RATINGS LIST

Wand Intermediate I L.P.
Corporate Credit Rating                       B/Stable/--

Ratings Unchanged

Wand Intermediate I L.P.
Senior Secured
  First-lien term loan due 2021                B+
   Recovery Rating                             2L
  Second-lien term loan due 2022               CCC+
   Recovery Rating                             6



WAYNE MERGER: Moody's Assigns 'B3' Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service has assigned a B3 corporate family rating
and B3-PD probability of default rating to Wayne Merger Sub, LLC, a
newly formed holding company affiliated with Alliant Holdings I,
LLC. The rating agency also assigned ratings to the credit
facilities to be issued in connection with the company's proposed
$3.4 billion recapitalization following an agreement by private
equity firm Stone Point Capital to acquire just over 50% of the
company's equity from private equity firm KKR and Alliant
management. Total funding sources will include new equity from
Stone Point, rollover equity from KKR and Alliant management, and
borrowings of $1,875 million. The recapitalization is expected to
close in August, subject to customary closing conditions. The
outlook for the ratings is stable.

RATINGS RATIONALE

Alliant's ratings reflect its leading position in several niche
markets, steady organic revenue growth and strong operating
margins. A key strength is the company's emphasis on specialty
programs, where the broker offers distinct value both to insurance
buyers and insurance carriers. These strengths are offset by the
company's aggressive financial leverage and moderate interest
coverage, along with its contingent/litigation risk related to
"leveraged hires" (recruiting seasoned producers with specialty
books of business) and acquisitions. The company also faces
potential liabilities from errors and omissions, a risk inherent in
professional services.

Giving effect to the proposed financing, Alliant's debt-to-EBITDA
ratio will be between 8x and 8.5x following the recapitalization,
based on Moody's estimates (which differ from company and covenant
calculations). The rating agency views such leverage as aggressive
for the rating category and expects it to drop below 8x over the
next 12 to 18 months through a combination of organic growth, the
realization of acquired EBITDA and lower costs associated with
leveraged hires.

Upon closing of the transaction, Moody's expects to withdraw the
existing ratings of Alliant Holdings I, LLC, which include: B3
corporate family rating, B3-PD probability of default rating, B2
first-lien facility ratings and Caa2 senior unsecured debt ratings,
as the credit facilities will be repaid and terminated.

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


  (i) debt-to-EBITDA ratio below 5.5x,
(ii) (EBITDA - capex) coverage of interest exceeding 2x, and
(iii) free-cash-flow-to-debt ratio exceeding 5%.

Factors that could lead to a rating downgrade include:

  (i) debt-to-EBITDA ratio remaining above 8x,
(ii) (EBITDA - capex) coverage of interest below 1.2x, and
(iii) free-cash-flow-to-debt ratio below 2%.

Moody's has assigned the following ratings and loss given default
(LGD) assessments:

  Corporate family rating B3;
  Probability of default rating B3-PD;
  $200 million five-year senior secured revolving credit
    facility B2 (LGD3);
  $1,340 million seven-year first-lien term loan B2 (LGD3);
  $535 million eight-year senior unsecured notes Caa2 (LGD5);
   (Co-issuer: Alliant Holdings Co-Issuer, Inc.).

Alliant, based in Newport Beach, California, is a specialty
oriented insurance broker providing property & casualty and
employee benefits products and services to middle-market clients
across the US. For the 12 months through March 2015, Alliant
generated revenues of approximately $664 million.



WAYNE MERGER: S&P Assigns 'B' Corporate Credit Rating
-----------------------------------------------------
Standard & Poor's Ratings Services said that it has assigned its
'B' corporate credit rating to Wayne Merger Sub LLC.  Wayne Merger
Sub, a new entity formed in conjunction with the proposed debt
transaction, will be merged into the existing Alliant Holdings I
L.P. shortly following the close of the transaction.  Wayne Merger
Sub will issue all debt related to the transaction (Alliant
Holdings Co-Issuer Inc. will be co-issuer on the senior notes).

S&P has also assigned its 'B' debt rating with a '3' recovery
rating, indicating its expectation for meaningful (50%-70%)
recovery of principal in the event of a default, to the company's
proposed senior secured facilities consisting of a $1.34 billion
term loan due 2022 and a $200 million revolver (undrawn at close)
due 2020.  S&P has also assigned its 'CCC+' debt rating with a '6'
recovery rating, indicating its expectation for negligible
(0%-10%) recovery of principal in the event of a default, to the
proposed $535 million unsecured notes due 2023.

At the same time, S&P affirmed its ratings on Alliant Holdings I
LLC and removed them from CreditWatch Negative, where S&P placed
them on June 24, 2015, following the announced investment by Stone
Point Capital LLC, and affirmed them.  Alliant Holdings I LLC is
the current issuer of the existing debt.  S&P expects to withdraw
all ratings on Alliant Holdings I following close of the
transaction.

The rating actions reflect S&P's belief that, although the proposed
recapitalization under Stone Point results in modestly weaker
credit-protection measures, Alliant's sustained competitive
position and improving earnings and cash-flow generating
capabilities will enable it to carry this increased debt load and
delever modestly during the next year.

Alliant's financial profile is highly leveraged given its weak
credit-protection measures and very aggressive financial policy
stemming from private equity ownership under new sponsor Stone
Point.  Following the transaction, Stone Point will have a 50%
equity stake in Alliant, making it the largest institutional
shareholder, while existing sponsor Kohlberg Kravis Roberts (KKR)
will remain a significant shareholder (19% equity stake).

Following the proposed debt issuance, Alliant's credit quality
deteriorates somewhat, as the investment is being funded through
$1.88 billion in new debt (with $1.56 billion of existing debt
being retired) and an equity contribution of $750 million by Stone
Point.  As a result of the increased debt load, S&P's adjusted
total debt-to-EBITDA ratio for the 12 months ended March 31, 2015,
pro forma for the transaction, weakens to 8.5x (7.2x including
annualized earnings from acquisitions closed in the past 12 months)
from 7.6x before the transaction (6.4x including annualized
acquisitions).  However, mitigating the credit deterioration, S&P
believes Alliant's favorable performance will enable it to absorb
this increased debt level and modestly de-lever during the coming
year.  The company has continually proven its ability to delever,
most recently after the buyout by KKR in December 2012, after which
leverage declined to 6.3x by year-end 2014 from 7.3x as of year-end
2012. Based on similar performance trend expectations including
continued organic and inorganic earnings growth momentum, S&P
expects Alliant's debt-to-EBITDA ratio to decline to the 7x-8x
range by year-end 2015 and to the 6.5x-7.5x range by year-end
2016.

The stable outlook on Alliant reflects S&P's expectation that the
company's expertise in its niche specialty markets will enable it
to maintain growing earnings and cash flows, with organic revenue
growth in the mid to high single digits and margins in the 32%-34%
range.  Although S&P expects the company's financial profile to
remain highly levered, it expects a trend of de-levering, with a
debt-to-EBITDA ratio of 7x-8x by year-end 2015 and near 6.5x-7.5x
by year-end 2016.  For the next two years, S&P also expects a
FFO-to-debt ratio in the 5%-10% range and EBITDA coverage of more
than 2x.

S&P could consider negative rating movement if the company displays
earnings deterioration or if management takes a more aggressive
approach to financial policy through additional debt financing for
acquisitions or reinvestment in the business above a level
appropriate for the rating, including a debt-to-EBITDA ratio of
more than 8.5x by year-end 2015.  S&P would also consider a
downgrade if Alliant's business profile deteriorates and becomes
weak, which would be demonstrated through deteriorating organic
growth and declining performance trends.

Although unlikely in the next 12 months given the company's high
leverage levels, S&P may consider an upgrade if Alliant is able to
continue to grow and diversify its business model profitably and
its financial policies become sustainably less aggressive, for
example, if leverage falls to less than 5.0x on a sustained basis.
This may occur through a combination of earnings growth and debt
pay-down.



WEST CORP: Appoints Diane Offereins as Director
-----------------------------------------------
The Board of Directors of West Corporation increased the size of
the Board by one to a total of nine members and elected Diane
Offereins as a member of the Board to a term expiring at the annual
meeting of stockholders to be held in 2017.

Since April 2010, Ms. Offereins has served as executive vice
president and president - Payment Services of Discover Financial
Services, a direct banking and payment services company.
Previously, she served as executive vice president, Payment
Services (2008 to 2010) and executive vice president and chief
information officer (1998 to 2010) for Discover Financial
Services.

The Board has determined that Ms. Offereins is independent in
accordance with the requirements of the NASDAQ Stock Market.  Ms.
Offereins will receive the compensation established by the Company
from time-to-time for non-employee directors (excluding
non-employee directors affiliated with the Company's sponsors),
including an annual cash retainer fee of $75,000 and an equity
grant of shares of the Company's common stock with a fair market
value equal to $100,000.

                      About West Corporation

Omaha, Neb.-based West Corporation is a global provider of
communication and network infrastructure solutions.  West helps
manage or support essential enterprise communications with
services that include conferencing and collaboration, public safety
services, IP communications, interactive services such as automated
notifications, large-scale agent services and telecom services.

West Corp reported net income of $158 million in 2014 following
net income of $143 million in 2013.

As of March 31, 2015, the Company had $3.54 billion in total
assets, $4.19 billion in total liabilities, and a $648 million
total stockholders' deficit.

                         Bankruptcy Warning

"Our failure to comply with these debt covenants may result in an
event of default which, if not cured or waived, could accelerate
the maturity of our indebtedness.  If our indebtedness is
accelerated, we may not have sufficient cash resources to satisfy
our debt obligations and we may not be able to continue our
operations as planned.  If our cash flows and capital resources are
insufficient to fund our debt service obligations and keep us in
compliance with the covenants under our Amended Credit Agreement or
to fund our other liquidity needs, we may be forced to reduce or
delay capital expenditures, sell assets or operations, seek
additional capital or restructure or refinance our indebtedness
including the notes.  We cannot ensure that we would be able to
take any of these actions, that these actions would be successful
and would permit us to meet our scheduled debt service obligations
or that these actions would be permitted under the terms of our
existing or future debt agreements, including our Senior Secured
Credit Facilities and the indenture that governs the notes.  The
Amended Credit Agreement and the indenture that governs the notes
restrict our ability to dispose of assets and use the proceeds from
the disposition.  As a result, we may not be able to consummate
those dispositions or use the proceeds to meet our debt service or
other obligations, and any proceeds that are available may not be
adequate to meet any debt service or other obligations then due.

If we cannot make scheduled payments on our debt, we will be in
default, and as a result:

   * our debt holders could declare all outstanding principal and
     interest to be due and payable;

   * the lenders under our Senior Secured Credit Facilities could
     terminate their commitments to lend us money and foreclose
     against the assets securing our borrowings; and

   * we could be forced into bankruptcy or liquidation," the
     Company said in its quarterly report for the period ended
     March 31, 2015.

                          *     *     *

As reported by the TCR on June 21, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on West Corp. to 'BB-'
from 'B+'.  The upgrade reflects Standard & Poor's view that lower
debt leverage and a less aggressive financial policy will
strengthen the company's financial profile.

In the April 4, 2013, edition of the TCR, Moody's Investor Service
upgraded West Corporation's Corporate Family Rating to 'B1' from
'B2'.  "The CFR upgrade to B1 reflects West's shift to a more
conservative capital structure and financial policies as a publicly
owned company," stated Moody's analyst Suzanne Wingo.


WHISKEY ONE: Case Summary & 5 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Whiskey One Eight, LLC
        3 Church Circle
        Annapolis, MD 21401

Case No.: 15-19885

Chapter 11 Petition Date: July 15, 2015

Court: United States Bankruptcy Court
       District of Maryland (Baltimore)

Judge: Hon. David E. Rice

Debtor's Counsel: Lawrence Joseph Yumkas, Esq.
                  YUMKAS, VIDMAR & SWEENEY, LLC
                  10211 Wincopin Circle, Suite 500
                  Columbia, MD 21044
                  Tel: (443) 569-0758
                  Fax: (410) 571-2798
                  Email: lyumkas@yvslaw.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Andrew Zois, managing member.

List of Debtor's five Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Bay Engineering                    Civil Engineering     $36,441

Lessans, Praley & McCormick         Legal services       $17,140

The Martin Architectural Group PC    Land Planning        $9,000

Staiano Engineering                Sound Engineering      $3,190

McCarthy & Associates              Wetland Delineation    $2,503


WNA HOLDINGS: S&P Puts 'B' CCR on CreditWatch Positive
------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings, including
its 'B' corporate credit rating, on WNA Holdings Inc. on
CreditWatch with positive implications.

The CreditWatch placement reflects the likelihood that Jarden Corp.
will acquire Covington, Ky.-based The Waddington Group Inc., the
parent holding company of WNA Holdings Inc. for $1.35 billion.
Jarden will fund the acquisition through a combination of cash,
debt, and equity.  The transaction, which S&P expects to close
during the third quarter, is subject to customary terms and
conditions, including antitrust and regulatory clearances in the
U.S. and abroad.  S&P expects that all of WNA Holdings will repay
the outstanding senior secured debt that we rate as part of this
transaction.

"We will resolve the CreditWatch placement when the transaction
closes," said Standard & Poor's credit analyst James Siahaan.

S&P expects to raise its rating on the WNA Holding Inc. following
the close of the transaction, reflecting S&P's view that the
company's credit quality would be aligned with that of Jarden
Corp., at which point S&P also expects to subsequently withdraw its
corporate credit and issue-level ratings on WNA Holding and its
debt.



XZERES CORP: Incurs $1.7 Million Net Loss in First Quarter
----------------------------------------------------------
Xzeres Corp. filed with the Securities and Exchange Commission its
quarterly report on Form 10-Q disclosing a net loss attributable to
common stockholders of $1.7 million on $617,000 of gross revenues
for the three months ended May 31, 2015, compared with a net loss
attributable to common stockholders of $3 million on $502,000 of
gross revenue for the same period in 2014.

As of May 31, 2015, the Company had $6.80 million in total assets,
$18.2 million in total liabilities, and a stockholders' deficit of
$11.4 million.

"We have incurred losses since inception, and have not yet received
sufficient revenues from sales of products or services to reach
profitability.  These factors create substantial doubt about our
ability to continue as a going concern.  The financial statements
do not include any adjustment that might be necessary if we are
unable to continue as a going concern.

"Our ability to continue as a going concern is dependent on
generating cash from the sale of our common stock and/or obtaining
debt financing and attaining future profitable operations.
Management's plans include selling our equity securities and
obtaining debt financing to fund our capital requirement and
ongoing operations; however, there can be no assurance we will be
successful in these efforts," the Company said in the report.

A copy of the Form 10-Q is available at http://is.gd/oh4mda

                         About XZERES Corp.

Headquartered in Wilsonville, Oregon, XZERES Corp. designs,
develops, and markets distributed generation, wind power systems
for the small wind (2.5kW-100kW) market as well as power
management solutions.

Xzeres reported a net loss of $10.7 million on $4.4 million of
gross revenues for the year ended Feb. 28, 2015, compared to a net
loss of $9.5 million on $4 million of gross revenues for the year
ended Feb. 28, 2014.

KLJ & Associates, LLP, in Edina, MN, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Feb. 28, 2015, citing that the Company has incurred losses
from operations, has negative working capital and is in need of
additional capital to grow its operations.  These factors raise
substantial doubt about the Company's ability to continue as a
going concern.


ZOGENIX INC: Files Copy of the Presentation Materials with SEC
--------------------------------------------------------------
Zogenix, Inc. plans to host a meeting featuring presentations by
members of its management team and key opinion leaders in the field
related to Dravet syndrome.  The presentations will include the
slides which is available at http://is.gd/icaNP1

                         About Zogenix Inc.

Zogenix, Inc. (NASDAQ: ZGNX), with offices in San Diego and
Emeryville, California, is a pharmaceutical company
commercializing and developing products for the treatment of
central nervous system disorders and pain.

Zogenix reported net income of $8.58 million in 2014 following a
net loss of $80.85 million in 2013.

As of March 31, 2015, the Company had $180 million in total assets,
$146 million in total liabilities, and $34.3 million in total
stockholders' equity.

Ernst & Young LLP, in San Diego, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2014, citing that the Company's
recurring losses from operations and negative cash flows from
operating activities raise substantial doubt about its ability to
continue as a going concern.


[*] Asbestos Court Among Nation's Worst "Judicial Hellholes"
------------------------------------------------------------
American Tort Reform Association disclosed that in making a rare
midyear adjustment to its annual "Judicial Hellholes" report, the
American Tort Reform Foundation on July 15 elevated the Circuit
Court for Newport News, Virginia, from the report's less critical
Watch List to the more onerous ranking as a full " judicial
hellhole."  Newport News joins a handful of other civil court
jurisdictions known as the nation's least fair and balanced.

"Our report, released each December, has documented imbalances in
Newport News asbestos litigation in the past," began ATRA president
Tiger Joyce.  "But additional research since we placed Newport News
on our Watch List late last year indicates that the jurisdiction's
plaintiff-favoring rules and procedures are worse than we thought
and now warrant a ranking among the worst of the Judicial
Hellholes.

"We're issuing a paper [Wednes]day that details our research,
justifies the new 'hellholes' status for Newport News and refutes
some of the recent pushback our report's criticisms of the
jurisdiction have received from local plaintiffs' lawyers,"
Mr. Joyce continued.

"Our paper emphasizes that asbestos defendants are more likely to
lose at trial in Newport News than in any other jurisdiction in the
country.  This is due to a number of factors, including an
extremely lax causation standard and blatant favoring of plaintiffs
by way of evidentiary rules and double standards."

Mr. Joyce said the July 15 paper also constructively identifies
three reforms that would help create a more level playing field for
all parties to asbestos litigation in Newport News.  They are:

  -- Mainstream instruction on causation in maritime cases.  A
meaningful review and overhaul of what constitutes a "substantial
factor" for causation purposes in maritime asbestos cases in
Newport News.

  -- Consistent application of the rules of evidence. Whatever the
issue, plaintiffs should not be permitted to use the rules of
evidence as both a sword and a shield on the same factual question.
Instead, juries should be permitted to hear fully from both sides
all of the relevant evidence that the parties have to present.

  -- Greater asbestos bankruptcy trust claim transparency. In
recent years, and particularly in the wake of revelations about
evidence manipulation arising from the Garlock Technologies
bankruptcy proceedings in North Carolina, a growing number of
states have enacted laws requiring plaintiffs to file asbestos
bankruptcy trust claims before proceeding to a civil trial.  In
addition, some state courts have adopted case management orders
that provide greater transparency between the asbestos bankruptcy
trusts and civil tort systems.  Virginia should adopt such reforms
to promote asbestos bankruptcy trust claim transparency.

Since 2002, the Judicial Hellholes program has documented
developments in civil courts where judges systematically apply laws
and court procedures in an unfair and unbalanced way, generally to
the disadvantage of defendants.  And for the past two years, the
report had specifically criticized the handling of asbestos
litigation in counting Newport News among its Watch List
jurisdictions.

"Until judges in Newport News act to balance the scales of justice
themselves, or until lawmakers in Richmond act to do it for them,
this jurisdiction's lopsided management of its asbestos docket is
likely to keep it ranked among the nation's most unfair Judicial
Hellholes," Mr. Joyce concluded.

The American Tort Reform Association, based in Washington, D.C., is
the only national organization dedicated exclusively to tort and
liability reform through public education and the enactment of
legislation.  Its members include nonprofit organizations and small
and large companies, as well as trade, business and professional
associations from the state and national level.



[^] BOOK REVIEW: Hospitals, Health and People
---------------------------------------------
Author:      Albert W. Snoke, M.D.
Publisher:   Beard Books
Softcover:   232 pages
List Price:  $34.95
Review by Francoise C. Arsenault

Order your personal copy today at
http://www.beardbooks.com/beardbooks/hospitals_health_and_people.html

Hospitals, Health and People is an interesting and very readable
account of the career of a hospital administrator and physician
from the 1930's through the 1980's, the formative years of
today's health care system. Although much has changed in
hospital administration and health care since the book was first
published in 1987, Dr. Snoke's discussion of the evolution of
the modern hospital provides a unique and very valuable
perspective for readers who wish to better understand the forces
at work in our current health care system.

The first half of Hospitals, Health and People is devoted to the
functional parts of the hospital system, as observed by Dr.
Snoke between the late 1930's through 1969, when he served first
as assistant director of the Strong Memorial Hospital in
Rochester, New York, and then as the director of the Grace-New
Haven Hospital in Connecticut.  In these first chapters, Dr.
Snoke examines the evolution and institutionalization of a
number of aspects of the hospital system, including the
financial and community responsibilities of the hospital
administrator, education and training in hospital
administration, the role of the governing board of a hospital,
the dynamics between the hospital administrator and the medical
staff, and the unique role of the teaching hospital.  

The importance of Hospitals, Health and People for today's
readers is due in large part to the author's pivotal role in
creating the modern-day hospital.  Dr. Snoke and others in
similar positions played a large part in advocating or forcing
change in our hospital system, particularly in recognizing the
importance of the nursing profession and the contributions of
non-physician professionals, such as psychologists, hearing and
speech specialists, and social workers, to the overall care of
the patient.  Throughout the first chapters, there are also many
observations on the factors that are contributing to today's
cost of care.  Malpractice is just one example.  According to
Dr. Snoke, "malpractice premiums were negligible in the 1950's
and 1960's.  In 1970, Yale-New Haven's annual malpractice
premiums had mounted to about $150,000."  By the time of the
first publication of the book, the hospital's premiums were
costing about $10 million a year.   

In the second half of Hospitals, Health and People, Dr. Snoke
addresses the national health care system as we've come to know
it, including insurance and cost containment; the role of the
government in health care; health care for the elderly; home
health care; and the changing role of ethics in health care.  It
is particularly interesting to note the role that Senator Wilbur
Mills from Arkansas played in the allocation of costs of
hospital-based specialty components under Part B rather than
Part A of the Medicare bill.  Dr. Snoke comments: "This was
considered a great victory by the hospital-based specialists.  I
was disappointed because I knew it would cause confusion in
working relationships between hospitals and specialists and
among patients covered by Medicare.  I was also concerned about
potential cost increases.  My fears were realized.  Not only
have health costs increased in certain areas more than
anticipated, but confusion is rampant among the elderly patients
and their families, as well as in hospital business offices and
among physicians' secretaries."  This aspect of Medicare caused
such confusion that Congress amended Medicare in 1967 to provide
that the professional components of radiological and
pathological in-hospital services be reimbursed as if they were
hospital services under Part A rather than part of the co-
payment provisions of Part B.

At the start of his book, Dr. Snoke refers to a small statue,
Discharged Cured, which was given to him in the late 1940's by a
fellow physician, Dr. Jack Masur.  Dr. Snoke explains the
significance the statue held for him throughout his professional
career by quoting from an article by Dr. Masur: "The whole
question of the responsibility of the physician, of the
hospital, of the health agency, brings vividly to mind a small
statue which I saw a great many years ago.it is a pathetic
little figure of a man, coat collar turned up and shoulders
hunched against the chill winds, clutching his belongings in a
paper bag-shaking, tremulous, discouraged.  He's clearly unfit
for work-no employer would dare to take a chance on hiring him.  
You know that he will need much more help before he can face the
world with shoulders back and confidence in himself.  The
statuette epitomizes the task of medical rehabilitation: to
bridge the gap between the sick and a job."  

It is clear that Dr. Snoke devoted his life to exactly that
purpose.  Although there is much to criticize in our current
healthcare system, the wellness concept that we expect and
accept today as part of our medical care was almost nonexistent
when Dr. Snoke began his career in the 1930's.  Throughout his
50 years in hospital administration, Dr. Snoke frequently had to
focus on the big picture and the bottom line.  He never forgot
the importance of Discharged Cured, however, and his book
provides us with a great appreciation of how compassionate
administrators such as Dr. Snoke have contributed to the state
of patient care today.     

Albert Waldo Snoke was director of the Grace-New Haven Hospital
in New Haven, Connecticut from 1946 until 1969.  In New Haven,
Dr. Snoke also taught hospital administration at Yale University
and oversaw the development of the Yale-New Haven Hospital,
serving as its executive director from 1965-1968.  From 1969-
1973, Dr. Snoke worked in Illinois as coordinator of health
services in the Office of the Governor and later as acting
executive director of the Illinois Comprehensive State Health
Planning Agency. Dr. Snoke died in April 1988.


                            *********

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 ***