TCR_Public/150821.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, August 21, 2015, Vol. 19, No. 233

                            Headlines

4221 CLEARVALLEY: Case Summary & 13 Largest Unsecured Creditors
8942595 CANADA: Herbal Magic in Bankr; Creditors Meeting Aug. 26
AIR MEDICAL: S&P Withdraws 'B' CCR After Acquisition by Kohlberg
ANAREN INC: S&P Affirms 'B' Corp. Credit Rating, Outlook Stable
ARMETTA LLC: Case Summary & 20 Largest Unsecured Creditors

ARNOLD W. KLEIN: Directed to Show Cause on Appeal
ASSOCIATED WHOLESALERS: Berkeley OK'd as Panel's Financial Advisor
ATLANTIC & PACIFIC: Burning $4.5 Million in Cash Per Week
ATLANTIC & PACIFIC: Meeting of Creditors Set for Oct. 7
ATLANTIC & PACIFIC: U.S. Trustee Forms Seven-Member Committee

AVIS BUDGET: Fitch to Withdraw 'BB-' LT Issuer Default Rating
BAHA MAR: Bradley Roberts Optimistic on Resort Opening by Year-End
BERAU CAPITAL: Court Grants Provisional Relief Under Ch. 15
BOLLINGER INVESTMENT: Court Shortens Notice Period in Stay Bid
BOOMERANG SYSTEMS: In Chapter 11 to Stabilize Business

BOOMERANG SYSTEMS: Proposes $2.5MM Financing from Game Over
BOOMERANG SYSTEMS: Wants September Schedules Deadline
BOOMERANG TUBE: Committee Defends Retention of Morris Nichols
BOOMERANG TUBE: Debevois & Plimpton Okayed as Transactions Counsel
BOOMERANG TUBE: Gets Final OK to Pay Critical Vendors Claims

BOOMERANG TUBE: Lazard Freres Approved as Investment Banker
BOOMERANG TUBE: Obtains Final Approval of $145-Mil. DIP Financing
BOOMERANG TUBE: Zolfo Cooper OK'd to Provide Mgt. Services
CAL DIVE: Akin Gump Says BofA's Bid to Disallow Fees Misplaced
CARETRUST REIT: Moody's Revises Outlook to Pos. & Affirms B2 CFR

CASA MEDIA: Needs Until Oct. 11 to File Plan
CHARTER SCHOOL OF BOYNTON: S&P Cuts Rating on 2012A/B Bonds to 'D'
CITIZENS FINANCIAL: Fitch Affirms 'BB-' Preferred Stock Rating
COCO BEACH: Bank, U.S. Trustee Object to Sale of Property
COMARK INC: Pacific West Acquires Business & Assets

CONGREGATION BIRCHOS: Agrees to Provide Adequate Protection to TCF
COYOTE LOGISTICS: Moody's Confirms 'B2' CFR, Outlook Stable
DAYA MEDICALS: Case Summary & 9 Largest Unsecured Creditors
DETROIT, MI: Sells First Municipal Bonds Since Emerging from Ch. 9
DORAL FINANCIAL: Berkeley OK'd as Committee's New Financial Advisor

ECO SERVICES: Moody's Puts 'B2' CFR on Review for Downgrade
ESTATE FINANCIAL: Has Authority to Sell Calif. Property for $2.4MM
FIBERTECH NETWORKS: Moody's Withdraws B2 Rating on Acquisition
FIRST NICKEL: RCF Demands Repayment of Obligations Under BIA
FORESIGHT APPLICATIONS: Suit vs. Genesee Capital Remanded

FREEDOM INDUSTRIES: Former Pres. Pleads Guilty to Pollution Charges
GLM DFW: Case Summary & 20 Largest Unsecured Creditors
GUP'S HILL PLANTATION: Case Summary & 7 Top Unsecured Creditors
HERCULES OFFSHORE: To Be Delisted From Nasdaq Effective Aug. 24
HILLVIEW, KY: Chapter 9 Case Summary & 20 Top Unsec. Creditors

HOLIDAY MARINAS: Owner Files for Chapter 11 Bankruptcy Protection
HUTCHESON MEDICAL: U.S. Trustee Wants Chapter 11 Case Dismissed
ICEGEN INC: Trustee to Sell Assets on September 3
INTEGRATED FINANCIAL: Award of Attorney's Fees & Costs Affirmed
KEY DISPOSAL: Case Summary & 20 Largest Unsecured Creditors

KU6 MEDIA: Receives Nasdaq Listing Non-Compliance Notice
LEARNING CARE: Moody's Raises CFR to B2, Outlook Stable
LIBERTY INTERACTIVE: S&P Retains 'BB' Corp. Credit Rating
MF GLOBAL: Judge Paves Way for Nearly Full Recoveries for Creditors
MISSISSIPPI PHOSPHATES: Gets Final Approval to Obtain $6M Loan

MISSISSIPPI PHOSPHATES: Pleads Guilty in Pollution Case
MISSISSIPPI PHOSPHATES: Settlement with Lender, EPA Approved
MOSS FAMILY: Can Use Fifth Third's Cash Collateral Until Nov. 13
NATIONWIDE INSURANCE: A.M. Best Hikes FSR to 'B+(Good)'
NEW YORK LIGHT: Creditors' Committee Opposes Use of Cash Collateral

NIRVANA INC: Creditors' Panel Hires Lowenstein Sandler as Counsel
NIRVANA INC: Withdraws Application to Hire Good News as Brokers
NORCAN FLEXIBLE: Files for Bankruptcy; Creditors Meeting Sept. 2
OPTIM ENERGY: Plan Effective Date Milestone Extended to Aug. 21
PACIFIC STEEL: Court OKs Wendel Rosen as Panel's Conflicts Counsel

PENN VIRGINIA: S&P Cuts Corp. Credit Rating to 'B-', Outlook Neg.
POINT BLANK: Jeffrey Brooks Wants 2008 Steel Takeover Investigated
PQ CORP: Moody's Affirms B3 CFR & Revises Outlook to Stable
PUBLIC SERVICE: A.M. Best Lowers Fin. Strength Rating to 'B(fair)'
RELATIVITY FASHION: Meeting of Creditors Slated for September 19

RELATIVITY MEDIA: Manchester Securities Wants Cap on Payments
RHINO EXCAVATING: Case Summary & 8 Largest Unsecured Creditors
SANDRIDGE ENERGY: Moody's Lowers CFR to 'Caa2', Outlook Stable
SHAWNEE AVE: Case Summary & 3 Largest Unsecured Creditors
SINGH AUTO WOLD: Case Summary & 21 Largest Unsecured Creditors

SMITH & MORRIS: Voluntary Chapter 11 Case Summary
SPECTRUM ANALYTICAL: Asset Sale Hearing on Aug. 25
TIERRA DEL REY: Hires Curry Advisors as General Bankruptcy Counsel
TRIBUNE CO: Aurelius Capital's Plea to Undo Plan Component Denied
VISION VENTURES: Providence Bank Acquires Chesterfield Property

WALTER ENERGY: Sept. 2 Hearing Set for Cash Collateral Motion
WILLIAM CONTRACTOR: Case Summary & 13 Largest Unsecured Creditors
[*] Fitch: More US Offshore Drillers Could Follow Hercules in Ch.11
[*] Sandor Frankel Joins Otterbourg as Of Counsel
[*] SRW's Craig Simon Named to Best Lawyers in America 2016 List

[^] BOOK REVIEW: Lost Prophets -- An Insider’s History

                            *********

4221 CLEARVALLEY: Case Summary & 13 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: 4221 Clearvalley, LLC
        14545 Friar Street, Suite 101
        Van Nuys, CA 91411-2357

Case No.: 15-12767

Chapter 11 Petition Date: August 19, 2015

Court: United States Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Hon. Martin R. Barash

Debtor's Counsel: M Jonathan Hayes, Esq.
                  SIMON RESNIK HAYES LLP
                  15233 Ventura Blvd., Suite 250
                  Sherman Oaks, CA 91403
                  Tel: (818) 783-6251
                  Fax: (818) 827-4919
                  Email: jhayes@srhlawfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Arezoo Y Javaheri Merabi, managing
member.

List of Debtor's 13 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
1370 Realty Corp.                                      $260,000
14545 Friar Street, #103
Van Nuys, CA 91411

14545 Friar, LLC                                       $180,000

14628 Sylvan, LLC                                      $156,000

Eli Morim                                              $120,000

Isaac Goldstein & Company                               $40,000

Merabi & Sons, LLC                                     $100,000

Nationstar Mortgage LLC                              $1,289,603
Attn: Bankruptcy
350 Highland Dr
Lewisville, TX 75067

Niloofar Lahijani                                       $52,000

RGR Construction                                        $56,000

Stephen Feder                                           $75,000

Styles BY Hope                                          $51,000

Yona Keyvan Javaheri                                   $200,000

Yoram Kambiz Javaheri                                  $410,000


8942595 CANADA: Herbal Magic in Bankr; Creditors Meeting Aug. 26
----------------------------------------------------------------
The bankruptcy of 8942595 Canada Inc. o/a Herbal Magic Inc. of
Yonge Street, Suite 700 in Toronton, Ontario, occurred on Aug. 7,
2015.  The first meeting of creditors will be held on Aug. 26,
2015, at 10:00 a.m. at the Holiday Inn Toronto Downtown Centre, 30
Carlton Street - Rosedale in Toronto, Ontario.

PricewaterhouseCoopers Inc.
Trustee of the Estate of the Company
18 York Street, Suite 2600
Toronto, ON M5J 0B2
Attn: Evelyn Bowles
Tel: 1-844-201-2824
Email: cmt_processing@ca.pwc.com


AIR MEDICAL: S&P Withdraws 'B' CCR After Acquisition by Kohlberg
----------------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'B' corporate
credit rating on Air Medical Holdings LLC following the entity's
merger into Air Medical Group Holdings Inc. after the acquisition
by Kohlberg Kravis Roberts & Co. in April 2015.

At the same time, S&P has assigned its 'B' corporate credit rating
to Air Medical Group Holdings Inc.  The outlook is stable.  All
issue-level ratings on Air Medical Group Holdings Inc.'s debt
remain unchanged.



ANAREN INC: S&P Affirms 'B' Corp. Credit Rating, Outlook Stable
---------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B'
corporate credit rating on East Syracuse, N.Y.-based Anaren Inc.
The outlook is stable.

At the same time, S&P affirmed its 'B+' issue-level rating on the
company's $175 million first-lien term loan due 2021.  The recovery
rating remains '2', indicating S&P's expectation for substantial
(70% to 90%; lower half of the range) recovery in the event of a
payment default.  S&P also affirmed its 'CCC+' issue-level rating
on the company's $70 million second-lien term loan maturing 2021.
The recovery rating remains '6', indicating S&P's expectation for
negligible (0% to 10%) recovery in the event of a payment default.

"The rating affirmation is based on our expectation that
incremental EBITDA from the company's acquisition target, which is
a manufacturer of RF and microwave power transistors and
amplifiers, specializing in gallium nitrite (GaN) technology, will
enable the firm to maintain pro-forma leverage below 7x," said
Standard & Poor's credit analyst James Thomas.

S&P bases its rating on Anaren on its "weak" business risk profile
and "highly leveraged" financial risk profile, as defined in S&P's
criteria.

S&P's assessment of Anaren's business risk profile reflects the
company's limited scale and reliance on a small number of customers
in both the space and defense (S&D) and wireless businesses

S&P's view of Anaren's financial risk profile reflects S&P's
expectation of pro forma debt to EBITDA in the low-6.0x area by the
end of fiscal 2015 because incremental EBITDA contribution from the
announced acquisition offsets additional debt.

The stable outlook on Anaren reflects S&P's expectation that the
company's involvement in high-priority military radar and
communication modernization contracts, along with continuing
investment in 4G cellular networks, will support moderate revenue
and EBITDA growth over the next 12 months.

S&P could lower the rating if delays and reduced orders on key
defense contracts, or slower adoption of 4G infrastructure outside
the U.S., lead to EBITDA declines and leverage sustained over
7.0x.

An upgrade is unlikely because of Anaren's "highly leveraged"
financial risk profile and S&P's view that private equity ownership
is likely to preclude sustained debt reduction.



ARMETTA LLC: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Armetta, LLC
           fdba Copar Industries, LLC
           fdba Copar Quarries of Westerly, LLC
           fdba Copar Trucking, LLC
           fdba Copar Quarries of RI, LLC
           fdba Copar Quarries of Lisbon, LLC
        90 Industrial Park Road
        Middletown, CT 06457

Case No.: 15-31399

Chapter 11 Petition Date: August 19, 2015

Court: United States Bankruptcy Court
       District of Connecticut (New Haven)

Judge: Hon. Julie A. Manning

Debtor's Counsel: Ronald Chorches, Esq.
                  LAW OFFICES OF RONALD I. CHORCHES, LLC
                  449 Silas Deane Highway, 2nd Floor
                  Wethersfield, CT 06109
                  Tel: 860-563-3955
                  Fax: 860-513-1577
                  Email: ronchorcheslaw@sbcglobal.net

Estimated Assets: $0 to $50,000

Estimated Debts: $1 million to $10 million

The petition was signed by Antonia Armetta, managing member.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Capital One Equipment Finance                          $162,188

Cariati Developers, Inc.                               $116,785

Commercial Credit Group, Inc.                          $429,923
400 Essjay Road - Ste. 340
Buffalo, NY 14221

Commercial Credit Group, Inc.                          $418,050
P. O. Box 60121
Charlotte, NC 28260-0210

Commercial Credit Group, Inc.                          $373,351
400 Essjay Road - Ste. 340
Buffalo, NY 14221

Environmental Protection Agncy                          $33,960

Equipment East                                         $142,936

Grillo Trucking Sevices, LLC                            $64,000

Kennedy Marine, Inc.                 Merchandise        $28,976

Komatsu Financial                                    $1,149,448
P. O. Box 99303
Chicago, IL 60693-9303

Mike Johnson                        Personal Loan       $36,826

Miller Moriarty & Co., LLC             Services         $82,234

Murdo Smith                         Personal Loan       $80,000

Neuco Corp.                            Supplier        $160,000

Randal Roberge                      Personal Loan       $49,936

Signature Financial, LLC                               $513,043
P. O. Box 5524
Hicksville, NY 11802-5524

Sterling Services, LLC                                  $63,595

Town of Westerly                                        $44,740

Travelers                             Insurance         $42,596

Xpress Sweeping, Inc.                  Services         $35,850


ARNOLD W. KLEIN: Directed to Show Cause on Appeal
-------------------------------------------------
Judge Dale S. Fischer of the United States District Court for the
Central District of California, in a memorandum dated Aug. 6, 2015,
ordered Arnold W. Klein, M.D., to show cause, in writing, why his
appeal should not be dismissed for his continued deficiencies.

The case is In Re Debtor - Arnold W. Klein, M.D. Arnold W. Klein v.
Landau Gottfried and Berger LLP, CASE NO. CV 15-3465 DSF (Bankr. D.
Calif.).

A full-text copy of Judge Fischer's Decision is available at
http://is.gd/YErNNefrom Leagle.com.

Arnold W. Klein, M.D., Appellant, represented by Steven L Popuch,
Steven L Popuch and Associates & Steffanie Danielle Stelnick , Law
Offices of Steffanie Stelnick.

Bradley D. Sharp, Chapter 11 Trustee, Appellee, represented by
Peter J Gurfein, Esq. -- pgurfein@lgbfirm.com -- Landau Gottfried
and Berger LLP.


ASSOCIATED WHOLESALERS: Berkeley OK'd as Panel's Financial Advisor
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
the Official Committee of Unsecured Creditors in the Chapter 11
cases of ADI Liquidation, Inc., formerly known as AWI Delaware,
Inc., et al., to retain Berkeley Research Group, LLC, as its
financial advisor, nunc pro tunc to June 1, 2015.

The Committee related that on Oct. 27, 2014, the Court authorized
the Committee to retain Capstone Advisory Group, LLC and Capstone
Valuation Services, LLC, as financial advisor.

Effective as of June 1, 2015, many of Capstone's members and
employees, including the Capstone personnel involved in the cases,
joined BRG and ended their affiliation with Capstone.  To ensure
continuity of representation, the Committee has requested that BRG
substitute for Capstone as their financial advisors in the cases,
effective as of June 1, 2015, subject to the Court's approval.  The
terms of the proposed retention are identical in all material
respects to the retention of Capstone, and no less favorable to the
Debtors' estates.

BRG will communicate regularly with the Committee and its legal
advisors to ensure that the actual financial advisory services
performed are appropriate based on the status of the case and needs
of the Committee.

BRG is expected to, among other things:

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

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

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

BRG has agreed to a 20% discount off of the standard hourly rates.
The standard hourly rates for BRG (without discount) are:

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

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

   Jay Borow                                   $875
   David Galfus                                $850
   Norman Haslun                               $635
   Joseph Vizzini                              $580
   Joseph Woodmansee                           $410

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

In relation to the authorization of BRG retention, the Court
ordered that Capstone will no longer act as financial advisor to
the Committee as of May 31, 2015, and Capstone will file a final
fee application seeking allowance of compensation and reimbursement
of expenses rendered during the period Sept. 9, 2014, until May 31,
2015, no later than 120 days after the entry of the order (July 30,
2015).

                   About Associated Wholesalers

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

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

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

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

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

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

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

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

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



ATLANTIC & PACIFIC: Burning $4.5 Million in Cash Per Week
---------------------------------------------------------
The Great Atlantic & Pacific Tea Co. admits in recent court filings
that it's "burning cash at a rate of $4.5 million a week," as it
seeks bankruptcy court rulings that will help it sell 118 of its
301 stores.

"The gap between the Debtors' assets and liabilities is widening,"
Tim McDonagh, a managing director at FTI Consulting Inc. and the
Company's financial adviser, said in a court filing.

Richard Newman at NorthJersey.com relates that as of February 2015,
the Company had assets of about $1.6 billion and liabilities of
about $2.3 billion.

According to court documents, the Company described its worsening
financial condition to support its pending request to be freed from
seniority rights and full severance benefits under union contracts,
and to effectuate the sale of the stores, which include A&Ps and
other supermarket brands.  NorthJersey.com relates that Acme, Stop
& Shop and Key Food have submitted bids totaling almost $570
million to acquire the 118 stores, and each bid includes
prohibitions on bumping, where workers at stores that close are
allowed to displace workers with less seniority at stores that will
remain open under new owners.

Mr. McDonagh said in a court document that if the Company had to
conduct a "fire sale" to liquidate those stores, instead of selling
them under the negotiated purchase agreements, the proceeds would
be about $213 million less.

As reported by the Troubled Company Reporter on Aug. 20, 2015,
Natalie Heard Hackett at Tapinto.net reported that workers at the
Pathmark received termination notices on Monday.  The location
wasn't included in the Company's list of stores to be closed, the
report stated.

Citing people familiar with the matter, Tapinto.net relates that
the letters were 'procedural' and that the Company's officials were
still looking for a buyer for the store as part of their July 19
Chapter 11 bankruptcy proceedings.  TAP into Montclair obtained on
Aug. 19, 2015, a copy of a letter sent to Montclair Mayor Robert
Jackson on Monday which indicates that "as part of the Chapter 11
process, the Company is actively marketing all the stores
identified on Exhibit B."  Exhibit B includes the Montclair
Pathmark, the report adds.

                    About Atlantic & Pacific

Based in Montvale, New Jersey, The Great Atlantic & Pacific Tea
Company, Inc., and its affiliates are one of the nation's oldest
leading supermarket and food retailers, operating approximately
300 supermarkets, beer, wine, and liquor stores, combination food
and drug stores, and limited assortment food stores across six
Northeastern states.  The primary retail operations consist of
supermarkets operated under a variety of well known trade names,
or "banners," including A&P, Waldbaum's, SuperFresh, Pathmark, Food
Basics, The Food Emporium, Best Cellars, and A&P Liquors.  The
Company employs approximately 28,500 employees, over 90% of whom
are members of one of twelve local unions whose members are
employed by the Debtors under the authority of 35 separate
collective bargaining agreements.

Then with 429 stores, A&P and its affiliates filed Chapter 11
petitions (Bankr. S.D.N.Y. Case No. 10-24549) on Dec. 12, 2010,
and in 2012 emerged from Chapter 11 bankruptcy as a privately held
company with 320 supermarkets.

On July 19, 2015, with 300 stores, A&P and 20 affiliated debtors
each filed a Chapter 11 petition (Bankr. S.D.N.Y.) after reaching
deals for the going concern sales of 120 stores.  The Debtors are
seeking joint administration under Case No. 15-23007.

As of Feb. 28, 2015, the Debtors reported total assets of $1.6
billion and liabilities of $2.3 billion.

The Debtors tapped Weil, Gotshal & Manges LLP as counsel, Evercore
Group L.L.C., as investment banker, FTI Consulting, Inc., as
financial advisor, Hilco Real Estate, LLC, as real estate advisor,
and Prime Clerk LLC, as claims and noticing agent.


ATLANTIC & PACIFIC: Meeting of Creditors Set for Oct. 7
-------------------------------------------------------
The meeting of creditors of The Great Atlantic & Pacific Tea Co. is
set to be held on Oct. 7, 2015, at 10:00 a.m. (prevailing Eastern
Time), according to a filing with the U.S. Bankruptcy Court for the
Southern District of New York.

The meeting will be held at the U.S. Bankruptcy Court, 300
Quarropas Street, in White Plains, New York.

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

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

                    About Atlantic & Pacific

Based in Montvale, New Jersey, The Great Atlantic & Pacific Tea
Company, Inc., and its affiliates are one of the nation's oldest
leading supermarket and food retailers, operating approximately 300
supermarkets, beer, wine, and liquor stores, combination food and
drug stores, and limited assortment food stores across six
Northeastern states.  The primary retail operations consist of
supermarkets operated under a variety of well known trade names, or
"banners," including A&P, Waldbaum's, SuperFresh, Pathmark, Food
Basics, The Food Emporium, Best Cellars, and A&P Liquors.  The
Company employs approximately 28,500 employees, over 90% of whom
are members of one of twelve local unions whose members are
employed by the Debtors under the authority of 35 separate
collective bargaining agreements.

Then with 429 stores, A&P and its affiliates filed Chapter 11
petitions (Bankr. S.D.N.Y. Case No. 10-24549) on Dec. 12, 2010, and
in 2012 emerged from Chapter 11 bankruptcy as a privately held
company with 320 supermarkets.

On July 19, 2015, with 300 stores, A&P and 20 affiliated debtors
each filed a Chapter 11 petition (Bankr. S.D.N.Y.) after reaching
deals for the going concern sales of 120 stores.  The Debtors are
seeking joint administration under Case No. 15-23007.

As of Feb. 28, 2015, the Debtors reported total assets of $1.6
billion and liabilities of $2.3 billion.

The Debtors tapped Weil, Gotshal & Manges LLP as counsel, Evercore
Group L.L.C., as investment banker, FTI Consulting, Inc., as
financial advisor, Hilco Real Estate, LLC, as real estate advisor,
and Prime Clerk LLC, as claims and noticing agent.


ATLANTIC & PACIFIC: U.S. Trustee Forms Seven-Member Committee
-------------------------------------------------------------
The U.S. Trustee for Region 2 appointed seven creditors of The
Great Atlantic & Pacific Tea Co. to serve on the official committee
of unsecured creditors.

The unsecured creditors are:

     (1) C&S Wholesale Grocers, Inc.
         7 Corporate Drive
         Keene, New Hampshire 03431
         Attention: William M. Boyd III, General Counsel
         Telephone: (603) 354-5846

     (2) McKesson Corporation
         One Post Street, 20th Floor
         San Francisco, California 94104
         Attention: Jennifer Towlsey, Vice President
         Telephone: (415) 983-9333

     (3) CBA Industries, Inc.
         P.O. Box 1717
         Elmwood Park, New Jersey 07407
         Attention: Barry Schiro, President
         Telephone: (201) 414-5250

     (4) Pension Benefit Guaranty Corporation
         1200 K Street, N.W.
         Washington, DC 2005-4026
         Attention: Michael Strollo
         Telephone: (202) 326-4020

     (5) United Food and Commercial Workers International Union
         219 Patterson Avenue
         Little Falls, New Jersey 07424
         Attention: Thomas P. Clarke, Director, UFCW Region 1
         Telephone: (973) 890-0110

     (6) 1199SEIU Health Care Employees Pension Fund
         330 West 42nd Street
         New York, New York 10036
         Attention: Ann Filloramo, Special Assistant
         Implementation Support
         Telephone: (646) 473-6067

     (7) Basser-Kaufman, Inc.
         151 Irving Place
         Woodmere, New York 11598
         Attention: Marc Kemp, Principal
         Telephone: (516) 569-3700

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

                    About Atlantic & Pacific

Based in Montvale, New Jersey, The Great Atlantic & Pacific Tea
Company, Inc., and its affiliates are one of the nation's oldest
leading supermarket and food retailers, operating approximately 300
supermarkets, beer, wine, and liquor stores, combination food and
drug stores, and limited assortment food stores across six
Northeastern states.  The primary retail operations consist of
supermarkets operated under a variety of well known trade names, or
"banners," including A&P, Waldbaum's, SuperFresh, Pathmark, Food
Basics, The Food Emporium, Best Cellars, and A&P Liquors.  The
Company employs approximately 28,500 employees, over 90% of whom
are members of one of twelve local unions whose members are
employed by the Debtors under the authority of 35 separate
collective bargaining agreements.

Then with 429 stores, A&P and its affiliates filed Chapter 11
petitions (Bankr. S.D.N.Y. Case No. 10-24549) on Dec. 12, 2010, and
in 2012 emerged from Chapter 11 bankruptcy as a privately held
company with 320 supermarkets.

On July 19, 2015, with 300 stores, A&P and 20 affiliated debtors
each filed a Chapter 11 petition (Bankr. S.D.N.Y.) after reaching
deals for the going concern sales of 120 stores.  The Debtors are
seeking joint administration under Case No. 15-23007.

As of Feb. 28, 2015, the Debtors reported total assets of $1.6
billion and liabilities of $2.3 billion.

The Debtors tapped Weil, Gotshal & Manges LLP as counsel, Evercore
Group L.L.C., as investment banker, FTI Consulting, Inc., as
financial advisor, Hilco Real Estate, LLC, as real estate advisor,
and Prime Clerk LLC, as claims and noticing agent.


AVIS BUDGET: Fitch to Withdraw 'BB-' LT Issuer Default Rating
-------------------------------------------------------------
Fitch Ratings plans to withdraw the ratings on Avis Budget Group,
Inc. on or about Sept. 18, 2015, for commercial reasons.

Fitch currently rates Avis Budget Group, Inc. as follows:

Avis Budget Group, Inc.
-- Long-term Issuer Default Rating (IDR) at 'BB-'.

Avis Budget Car Rental, LLC
-- Long-term IDR at 'BB-';
-- Senior secured term loan at 'BBB-';
-- Revolving credit facility at 'BBB-';
-- Senior unsecured debt at 'BB-'.

Avis Budget Finance PLC
-- Long-term IDR at 'BB-';
-- Senior unsecured debt at 'BB-'.

Fitch reserves the right in its sole discretion to withdraw or
maintain any rating at any time for any reason it deems sufficient.
Fitch believes that investors benefit from increased rating
coverage by Fitch and is providing approximately 30 days' notice to
the market on the withdrawal. Ratings are subject to analytical
review and change up to the time Fitch withdraws the ratings.

Fitch's last rating action for the above referenced entities was on
Oct. 14, 2014. The ratings were affirmed with a Stable Outlook.



BAHA MAR: Bradley Roberts Optimistic on Resort Opening by Year-End
------------------------------------------------------------------
The 3.5 billion Baha Mar resort -- which officials say is 97%
complete -- will still open before year-end despite the possibility
of provisional liquidators being appointed at the property, Ava
Turnquest at Tribune 242 reports, citing Progressive Liberal Party
Chairman Bradley Roberts.

Tribune 242 relates that Attorney General Allyson Maynard-Gibson
filed the winding up petition against the Resort to have
provisional liquidators appointed, after negotiations for a way
forward between stakeholders in China failed.

According to Tribune 242, Bahamas Chamber of Commerce and Employers
Confederation chief executive Edison Sumner has warned that the
project will not open in time to catch the peak winter 2015 tourism
season if it is placed under the control of provisional
liquidators.  Three to four months was simply not enough time for
the provisional liquidators -- if appointed -- to "go through the
rubble" and organize the property's construction completion, the
report states, citing Mr. Sumner.

Mr. Roberts said that Baha Mar CEO Sarkis Izmirlian had just hours
left to accept the financing deal brokered in talks between the
Export Import Bank of China and China Construction America, or face
the consequences, Tribune 242 states.  "Failing that, then the
liquidators will come in," the report quoted him as saying.

Khrisna Virgil at Tribune 242 adds that Prime Minister Perry
Christie asked Minister of State for Legal Affairs Damian Gomez to
step down as the government's lead attorney in the Resort's legal
battle insisting that it was important for people to see the
ongoing process in the court as independent of the government's
interference.  Mr. Christie said in an interview broadcasted on
ZNS, "What we were hoping all along is that the developer who put
so much effort into the product itself having, 97% completed it,
would not just allow it to go.  But he would instead find some way
of accommodating himself to the requirements of the China Export
Import Bank and the construction company."

                           About Baha Mar

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

The case is assigned to Judge Kevin J. Carey.

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

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


BERAU CAPITAL: Court Grants Provisional Relief Under Ch. 15
-----------------------------------------------------------
The United States Bankruptcy Court of the Southern District of New
York granted provisional relief under Chapter 15 of the Bankruptcy
Code to Berau Capital Resources Pte. Ltd.

The application for provisional relief under Chapter 15 was filed
by Kin Chan, the duly authorized foreign representative, of Berau
Capital.

The Court determined that if the order is not granted, the Foreign
Debtor's assets located in the United States could be subject to
efforts by creditors to control, possess, or execute upon those
assets and those efforts have a material risk of resulting in the
Foreign Debtor suffering immediate and irreparable injury, loss, or
damage by, among other things, (i) interfering with the
jurisdictional mandate of the U.S. Court under Chapter 15 of the
Bankruptcy Code, (ii) interfering with the Foreign Debtor's efforts
to administer its estate and restructure its operations pursuant to
the Foreign Proceeding, and (iii) undermining the Foreign
Representative's efforts to achieve an equitable result for the
benefit of all of the Foreign Debtor's creditors and interest
holders.

The Senior Secured Noteholder Committee is represented by:

          James H.M. Sprayregen, P.C., Esq.
          David S. Meyer, Esq.
          KIRKLAND & ELLIS LLP
          KIRKLAND & ELLIS INTERNATIONAL LLP
          601 Lexington Avenue
          New York, New York 10022
          Tel: (212) 446-4800
          Fax: (212) 446-4900
          Email: james.sprayregen@kirkland.com
                 david.meyer@kirkland.com    
       
             -- and --

          Adam Paul , P.C., Esq.
          Gregory F. Pesce , P.C., Esq.
          KIRKLAND & ELLIS LLP
          KIRKLAND & ELLIS INTERNATIONAL LLP
          300 North LaSalle Street
          Chicago, Illinois 60654
          Tel: (312) 862-2000
          Fax: (312) 862-2200
          Email:  adam.paul@kirkland.com            
                 gregory.pesce@kirkland.com

                       About Berau Capital

Berau Capital Resources Pte Ltd., is incorporated under the laws
of the Republic of Singapore and is a wholly-owned subsidiary of
PT Berau Coal Energy Tbk ("BCE"), a public company incorporated
under the laws of the Republic of Indonesia.  Berau Capital was
incorporated in 2010, by BCE as a special purpose vehicle to raise
funds for and on behalf of the BCE Group.

In order to prevent recovery or enforcement efforts by creditors
that would jeopardize the BCE Group's and BCR's restructuring, on
July 4, 2015, BCR initiated proceedings in the High Court of the
Republic of Singapore (the "Singapore Court").

Berau Capital filed a Chapter 15 petition (Bankr. S.D.N.Y. Case
No. 15-11804) in Manhattan in the United States on July 10, 2015,
to seek recognition of its restructuring proceedings in Singapore.
Kin Chan, the chairman of the board of ARMs, signed the Chapter 15
petition and is serving as foreign representative.

The U.S. case is assigned to Judge Martin Glenn.

The Debtor tapped Edward J. LoBello, Esq., at Meyer, Suozzi,
English & Klein, P.C., in Garden City, New York, as counsel.


BOLLINGER INVESTMENT: Court Shortens Notice Period in Stay Bid
--------------------------------------------------------------
Judge Craig A. Gargotta of the United States Bankruptcy Court for
the Western District of Texas, San Antonio Division, in an order
dated Aug. 4, 2015, shortened the time period for notice with
respect to the emergency motion for a stay pending appeal in the
case captioned IN RE: BOLLINGER INVESTMENT PARTNERS, LTD. DBA TOP
OF THE HILL RV RESORT, Chapter 11 Proceeding, Debtor, BANKRUPTCY
NO. 15-51618 (Bankr. W.D. Tex.).  A full-text copy of Judge
Gargotta's Decision is available at http://is.gd/lI5f5Vfrom
Leagle.com.

Bollinger Investment Partners, Ltd., dba Top of the Hill RV Resort,
sought protection under Chapter 11 of the Bankruptcy Code on July
6, 2015 (Bankr. W.D. Tex., Case No. 15-51618).  The case is
assigned to Judge Craig A. Gargotta.  The Debtor's counsel is Dean
William Greer, Esq., in San Antonio, Texas.


BOOMERANG SYSTEMS: In Chapter 11 to Stabilize Business
------------------------------------------------------
Boomerang Systems, Inc., says it has seen substantial revenue
growth for its robotic parking system named RoboticValet but
operations remained unprofitable.  

The Company sought bankruptcy protection after its lender cut
financing needed to fund operations until later this year.

With $2.5 million of DIP financing in place, Boomerang expects to
file a proposed Chapter 11 plan of reorganization and restructuring
of its business shortly.

Boomerang claims to be on the frontline of automated parking
systems with its robotic parking system, the trademark
"RoboticValet(R)".  The "valet" is a low-profile, omni-directional
robot that carries vehicles parked on steel trays to and from
spaces by "driving" them directly on a concrete slab without use of
a rack, rail or track.  Among other advantages, the RoboticValet
uses half the space of conventional human-parked parking lots.  

Because it's the only company in the world that uses this cutting
edge technology, Boomerang's products are unfamiliar to many of its
prospective customers.  This has required Boomerang to expend
significant capital on marketing and education, including
constructing and maintaining a demonstration facility to showcase
the automated parking systems to customers.  Boomerang has also
spent millions of dollars on research and product development.

Since Boomerang entered the automated parking systems market in
2008, its revenue has grown substantially: from $718,000 in 2010 to
$5.45 million in 2014.

But despite the revenue growth, Boomerang is not yet profitable.
As a result, Boomerang relies on the debt and equity markets to
fund operations during these startup and growth years.  However,
one lender's purposeful refusal to provide necessary funding to
Boomerang pursuant to a loan and security agreement dated June 16,
2013, at a critical juncture of Boomerang's operations has created
a domino effect leading to a rapid, and irreversible, downward
spiral of Boomerang's financial wherewithal.

Beginning in April 2015, Boomerang made repeated requests to
Parking Source, LLC, as the agent and lender, to fund its remaining
$1.6 million obligation.  But, from April 2015 through July 2015,
Parking Source, through its member and manager, Harvey Hernandez,
continued to delay funding its $1.6 million commitment.  On July
16, 2015, Hernandez represented that neither he nor Jesus Quintero
(the only other member of Parking Source) would fund that amount
and indicated their intent to default under the Loan and Security
Agreement.

Boomerang needed that $1.6 million to fund its operations until
later in the year, by which time Boomerang planned to have secured
an additional $10 million to $15 million in an equity offering.  In
fact, Boomerang had been engaged in preparation and marketing of
the equity offering to new investors since March 2015.  Due to
Parking Source's default, however, Boomerang had insufficient
liquidity to complete the equity offering.

Further, on or around April 21, 2015, a final arbitration award for
approximately $1.517 million was issued against Boomerang resolving
a dispute with Crescent Heights R&D LLC, a real estate developer,
over a "rack-and-rail" parking system that it purchased from
Boomerang.  Boomerang made the first payment of this arbitration
award on May 21, 2015, and to date, Boomerang has paid $1.3 million
of the $1.517 million owed.

Because of the lack of liquidity caused by Parking Source's
default, Boomerang Systems and its affiliated debtors have sought
Chapter 11 protection to stabilize their business so they may
continue to develop and sell their innovative robotic parking
systems.

To effectuate the restructuring, Boomerang has obtained
postpetition financing from Game Over Technology Investors, LLC, as
agent for itself and other lenders, in the amount of at least $2.5
million to finance the Debtors' operations pending confirmation of
a Chapter 11 plan of reorganization.

                         First Day Motions

The Debtors on the Petition Date filed motions to:

  -- jointly administer their Chapter 11 cases;
  -- continue their cash management system;
  -- pay sales and use taxes;
  -- pay employee wages and benefits;
  -- prohibit utilities from discontinuing service;
  -- maintain their existing insurance policies;
  -- obtain DIP financing;
  -- appoint The Garden City Group, Inc., as claims agent; and
  -- extend the time to file schedules.

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

     http://bankrupt.com/misc/Saint_M_1st_Day_Affidavit.pdf

                      About Boomerang Systems

Headquartered in Morristown, New Jersey, Boomerang Systems, Inc.
(OTCMKTS: BMER) through its wholly owned subsidiary, Boomerang
Utah, is engaged in the design, development, and marketing of
automated racking and retrieval systems for automobile parking and
automated racking and retrieval of containerized self-storage
units.

Boomerang Systems reported a net loss of $2.66 million for the
fiscal year ended Sept. 30, 2014, a net loss of $11.2 million for
the year ended Sept. 30, 2013 and a net loss of $17.4 million for
the year ended Sept. 30, 2012.

As of March 31, 2015, the Company had $6 million in total assets,
$19.5 million in total liabilities, and a $13.5 million total
stockholders' deficit.

Boomerang Systems, Inc., and three affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 15-11729) on Aug. 18,
2015.

The Company has engaged the law firms of Togut, Segal & Segal LLP
as general bankruptcy counsel, Ciardi, Ciardi & Astin as local
bankruptcy counsel, and Garden City Group, LLC, as claims and
noticing agent.  In addition, the Company has retained the law firm
Berg & Androphy, which filed a lawsuit on Aug. 18, 2015 in the
Southern District of New York against the Company's defaulting
lender.


BOOMERANG SYSTEMS: Proposes $2.5MM Financing from Game Over
-----------------------------------------------------------
Boomerang Systems, Inc., is asking the U.S. Bankruptcy Court for
the District of Delaware for authority to obtain secured
postpetition financing on a superpriority basis of at least $2.5
million from Game Over Technology Investors, LLC, as agent and for
itself and other lenders, and use cash collateral of its
prepetition lender, Parking Source LLC.

The salient terms of the DIP Facility from Game Over are:

   * The DIP Facility will be in the amount of at least $2.5
million, of which up to $1 million will be available upon interim
approval of the financing.

   * The Debtors are required to accomplish these milestones for
the subsequent funding under the DIP facility:

     -- Within 5 days, the Debtors will identify key employees of
the Company required to accomplish the goals set forth in the
Company's business plan;

     -- Within 30 days, the Debtors will deliver to the DIP Agent a
comprehensive business plan;

     -- Within 75 days, the Debtors will have received an order o
the Court approving a disclosure statement in connection with a
Plan; and

     -- Within 120 days, the Debtors will have received an order of
the Court confirming the Plan.

   * Interest will accrue at 20% per annum, compounding daily and
payable-in-kind.  There will be a commitment fee of 0.75% per annum
for unfunded commitments, monthly, in kind.  In addition, there a
facility fee in an amount equal to 3% of the aggregate amount of
the DIP facility.  The Debtors are obligated to pay the
professional fees and expenses of the DIP Agent and DIP Lenders.

   * The DIP Agent will be granted first priority priming liens and
senior security interests, senior to the liens of the prepetition
lenders and first priority liens and security interest on
unencumbered property, and junior priority liens and security
interests, subject only to the payment of the carve-out for fees of
the U.S. Trustee and professional fees.

   * The DIP facility will terminate on Dec. 21, 2015, subject to
conditions.

Parking Source, which is owed $13.35 million for loans provided
prepetition, will receive replacement liens, junior to the liens of
the DIP Lenders.  Parking Source has consented to the use of cash
collateral, according to the Debtors.

                      About Boomerang Systems

Headquartered in Morristown, New Jersey, Boomerang Systems, Inc.
(OTCMKTS: BMER) through its wholly owned subsidiary, Boomerang
Utah, is engaged in the design, development, and marketing of
automated racking and retrieval systems for automobile parking and
automated racking and retrieval of containerized self-storage
units.

Boomerang Systems reported a net loss of $2.66 million for the
fiscal year ended Sept. 30, 2014, a net loss of $11.2 million for
the year ended Sept. 30, 2013 and a net loss of $17.4 million for
the year ended Sept. 30, 2012.

As of March 31, 2015, the Company had $6 million in total assets,
$19.5 million in total liabilities, and a $13.5 million total
stockholders' deficit.

Boomerang Systems, Inc., and three affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 15-11729) on Aug. 18,
2015.

The Company has engaged the law firms Togut, Segal & Segal LLP as
general bankruptcy counsel, Ciardi, Ciardi & Astin as local
bankruptcy counsel, and Garden City Group, LLC, as claims and
noticing agent.  In addition, the Company has retained the law firm
Berg & Androphy, which filed a lawsuit on Aug. 18, 2015 in the
Southern District of New York against the Company's defaulting
lender.


BOOMERANG SYSTEMS: Wants September Schedules Deadline
-----------------------------------------------------
Boomerang Systems, Inc., and its debtor-affiliates are asking the
U.S. Bankruptcy Court for the District of Delaware to enter an
order (i) setting a deadline 30 days after the Petition Date by
which the Debtors must file their respective schedules of assets
and liabilities and statements of financial affairs, and (ii)
waiving the requirement to file the list of equity security
holders.

Joseph J. McMahon, Jr., Esq., at Ciardi, Ciardi & Astin, avers that
given (a) the size and complexity of the Debtors' businesses and
financial affairs, (b) the decentralized nature of the information,
and (c) the critical matters that the Debtors' management and
professionals were required to address prior to the commencement of
the Chapter 11 cases, the requested extension for the Schedules and
Statements are warranted.

As to the list of equity holders, Mr. McMahon points out that
Boomerang Systems is a publicly held Delaware corporation that is
traded over the counter under the ticker symbol BMER.  As of the
Petition Date, Boomerang had 18.2 million shares of its common
stock outstanding.  The Debtors submit that if it becomes necessary
for equity holders to file proofs of interest, the Debtors will
provide them with particularized notice of the deadline and an
opportunity to assert such interests.

                      About Boomerang Systems

Headquartered in Morristown, New Jersey, Boomerang Systems, Inc.
(OTCMKTS: BMER) through its wholly owned subsidiary, Boomerang
Utah, is engaged in the design, development, and marketing of
automated racking and retrieval systems for automobile parking and
automated racking and retrieval of containerized self-storage
units.

Boomerang Systems reported a net loss of $2.66 million for the
fiscal year ended Sept. 30, 2014, a net loss of $11.2 million for
the year ended Sept. 30, 2013 and a net loss of $17.4 million for
the year ended Sept. 30, 2012.

As of March 31, 2015, the Company had $6 million in total assets,
$19.5 million in total liabilities, and a $13.5 million total
stockholders' deficit.

Boomerang Systems, Inc., and three affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 15-11729) on Aug. 18,
2015.

The Company has engaged the law firms Togut, Segal & Segal LLP as
general bankruptcy counsel, Ciardi, Ciardi & Astin as local
bankruptcy counsel, and Garden City Group, LLC, as claims and
noticing agent.  In addition, the Company has retained the law firm
Berg & Androphy, which filed a lawsuit on Aug. 18, 2015 in the
Southern District of New York against the Company's defaulting
lender.


BOOMERANG TUBE: Committee Defends Retention of Morris Nichols
-------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Boomerang Tube, LLC, et al., responded to objections to
its applications to retain Brown Rudnick LLP and Morris, Nichols,
Arsht & Tunnell LLP, as its counsel, nunc pro tunc to June 19,
2015.

The Committee explained that in the firms' applications, the
Committee determined to provide reimbursement of the firms' defense
costs if the firms were successful in defending their fees before
the Court.

The Committee also noted that the fee defense provisions are
appropriate under Section 328(a) of the Bankruptcy Code.

Andrew R. Vara, the Acting U.S. Trustee for Region 3l, objected to
the application, stating that the fee defense provisions violate
the Code, ignore the express directives of the U.S. Supreme Court,
and are otherwise unreasonable.

Cortland Capital Market Services LLC, in its capacity as
administrative and collateral agent to the Term Lenders and the
Term DIP Lenders, joined the objection of the U.S. Trustee to
application of the Committee for an order approving the retention
of Morris Nichols.

The retention application provides that the hourly rates of Morris
Nichols range between $305 for the most junior associate to $910
for the most senior partner.  The current hourly rates of the
firm's personnel are:

         Partners                $565 - $910
         Associates              $305 - $525
         Paraprofessionals       $240 - $300
         Case Clerks                 $150

Morris Nichols' statement in relation to the U.S. Trustee's request
for additional information and disclosures is available for free at
http://bankrupt.com/misc/BOOMERANGTUBE_273_morris.pdf

The Committee filed a separate application to retain Brown Rudnick
as lead counsel.

Mark DiGirolamo, the authorized representative of Nucor Steel, a
member of the Committee, stated that the Committee and Morris
Nichols will work together to determine whether any routine matters
may be handled more cost-effectively by other counsel or other
outside counsel.

                        About Boomerang Tube

Boomerang Tube, LLC, is a manufacturer of welded Oil Country
Tubular Goods ("OCTG") in the United States.  OCTG are used by
drillers in exploration and production of oil and natural gas and
consist of drill pipe, casing and tubing.  Boomerang has corporate
offices in Chesterfield, Missouri and manufacturing facilities in
Liberty, Texas, strategically located near major steel production
centers and end-user markets.  With a 487,000 square foot plant
that houses two mills and heat treat lines and a contingent 119
acres, these facilities constitute the second largest alloy OCTG
mill in North America.  Access Tubulars, LLC, owns 81% of the
equity interests in Boomerang.

Boomerang Tube and its subsidiaries BTCSP LLC and BT Financing
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
15-11247) on June 9, 2015, with a deal with lenders on a balance
sheet restructuring that would convert $214 million of debt to
100% of the common stock of the reorganized company.

The Debtor disclosed $272,205,337 in assets and $300,375,946 in
liabilities as of th Chapter 11 filing.

The cases are assigned to Judge Mary F. Walrath.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as
attorneys; Lazard Freres & Co. LLC, as financial advisor; and
Donlin, Recano & Co., Inc., as claims and noticing agent.

Boomerang Tube disclosed $272,205,337 in assets and $300,375,946 in
liabilities as of the Chapter 11fiing

On June 30, 2015, the Debtor filed a bankruptcy-exit plan and
explanatory disclosure statement.  

The U.S. Trustee overseeing the Chapter 11 case appointed five
creditors to serve on an official committee of unsecured
creditors.  The Committee is represented by Brown Rudnick LLP., and
Morris, Nichols, Arsht & Tunnel LLP.



BOOMERANG TUBE: Debevois & Plimpton Okayed as Transactions Counsel
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Boomerang Tube, LLC, et al., to employ Debevoise & Plimpton LLP as
special corporate and transactions counsel.

In a declaration of Kevin Nystrom, a chief restructuring officer,
interim chief executive officer, and president of the Debtors, said
that although the Debtors were seeking to retain Young Conaway
Stargatt & Taylor, LLP as their general bankruptcy counsel, the
Debtors have requested that Debevoise continue to represent them in
connection with:

   i) negotiation and documentation of the Debtors'
debtor-in-possession and exit financings (excluding any
bankruptcy-specific matters relating to such financings);

  ii) negotiation and documentation of any sale transaction
involving the Debtors or their assets (excluding any
bankruptcy-specific matters relating to such sale); and

iii) negotiation and documentation of appropriate corporate
documents to consummate any plan of reorganization or sale
involving the Debtors or their assets (excluding any
bankruptcy-specific matters relating to such documents).

My Chi To, a partner in the law firm of Debevoise, with an office
at 919 Third Avenue, New York City, submitted a supplemental
declaration disclosing that Debevoise and certain of its partners
and associates have in the past provided and may continue to
provide limited tax advice to Access Industries, Inc., in
connection with these case.  Debevoise is not currently providing
any such tax services to Access in connection with the cases.  If
Debevoise were asked to provide such tax services, Debevoise
expects that those services would consist of providing an
explanation of the tax consequences to Access of the cases.

As reported in the Troubled Company Reporter on July 22, 2015,
Andrew R. Vara, Acting U.S. Trustee for Region 3, in his objection

to the Debtors' application, stated that, among other things:

   1. Debevoise's proposed retention concerns the Debtors'
restructuring broadly and therefore is impermissible under Section
327(e) of the Bankruptcy Code.

   2. The Debtors have not shown that postpetition discontinuance
of prepetition discount is reasonable; and

   3. Record of Debevoise's connections must be developed further.

The Official Committee of Unsecured Creditors joined in the
objection of the Acting U.S. Trustee.

The Debtors said they have tapped Debevoise to provide services in
connection with the negotiation and drafting of appropriate
corporate documents with respect to the consummation of a plan of
reorganization, financing and general corporate matters.

Debevoise will bill at its standard hourly rates, which currently
are:

         Billing                    Category Range
         -------                    --------------
         Partners                    $900 - $1,250
         Counsel                     $850 - $1,065
         Associates                  $465 -   $885
         Paraprofessionals           $195 -   $380

These professionals are expected to have primary responsibility
for providing services to the Debtors:

         My Chi To (Partner, Business
           Restructuring and Workouts)           $1,195

         Ramya Tiller (Associate, Finance)         $840

         Patricia Teixeira (Associate, Finance)    $825
         
         Nick S. Kaluk, III (Associate, Business
           Restructuring and Workouts)             $720

To the best of the Debtors' knowledge, Debevoise do not hold or
represent any interest adverse to the Debtors or their estates with
respect to the matters on which Debevoise is to be employed.

                        About Boomerang Tube

Boomerang Tube, LLC, is a manufacturer of welded Oil Country
Tubular Goods ("OCTG") in the United States.  OCTG are used by
drillers in exploration and production of oil and natural gas and
consist of drill pipe, casing and tubing.  Boomerang has corporate
offices in Chesterfield, Missouri and manufacturing facilities in
Liberty, Texas, strategically located near major steel production
centers and end-user markets.  With a 487,000 square foot plant
that houses two mills and heat treat lines and a contingent 119
acres, these facilities constitute the second largest alloy OCTG
mill in North America.  Access Tubulars, LLC, owns 81% of the
equity interests in Boomerang.

Boomerang Tube and its subsidiaries BTCSP LLC and BT Financing
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
15-11247) on June 9, 2015, with a deal with lenders on a balance
sheet restructuring that would convert $214 million of debt to
100% of the common stock of the reorganized company.

The Debtor disclosed $272,205,337 in assets and $300,375,946 in
liabilities as of the Chapter 11 filing.

The cases are assigned to Judge Mary F. Walrath.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as
attorneys; Lazard Freres & Co. LLC, as financial advisor; and
Donlin, Recano & Co., Inc., as claims and noticing agent.

Boomerang Tube disclosed $272,205,337 in assets and $300,375,946 in
liabilities as of the Chapter 11 filing.

On June 30, 2015, the Debtor filed a bankruptcy-exit plan and
explanatory disclosure statement.

The U.S. Trustee overseeing the Chapter 11 case appointed five
creditors to serve on an official committee of unsecured creditors.
The Committee is represented by Brown Rudnick LLP., and Morris,
Nichols, Arsht & Tunnel LLP.



BOOMERANG TUBE: Gets Final OK to Pay Critical Vendors Claims
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware, authorized,
on a final basis, Boomerang Tube, LLC, et al., to:

  (i) pay certain prepetition claims of critical vendors, shippers,
warehousemen and possessory lien holders; and

(ii) authorize financial institutions to honor all related checks
and electronic payment requests.

The Debtors are authorized to use their commercially reasonable
efforts to cause critical vendors to enter into a vendor agreement
with the Debtors as a condition of payment of their prepetition
claim.

Judge Mary F. Walrath earlier gave the Debtors interim authority to
pay the prepetition claims of critical vendors in the aggregate
amount not to exceed $2.0 million.  The Debtors were also given
interim authority to pay shippers and warehousemen on account of
their prepetition claims in an aggregate amount not to exceed
$475,000.

                        About Boomerang Tube

Boomerang Tube, LLC, is a manufacturer of welded Oil Country
Tubular Goods ("OCTG") in the United States.  OCTG are used by
drillers in exploration and production of oil and natural gas and
consist of drill pipe, casing and tubing.  Boomerang has corporate
offices in Chesterfield, Missouri and manufacturing facilities in
Liberty, Texas, strategically located near major steel production
centers and end-user markets.  With a 487,000 square foot plant
that houses two mills and heat treat lines and a contingent 119
acres, these facilities constitute the second largest alloy OCTG
mill in North America.  Access Tubulars, LLC, owns 81% of the
equity interests in Boomerang.

Boomerang Tube and its subsidiaries BTCSP LLC and BT Financing
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
15-11247) on June 9, 2015, with a deal with lenders on a balance
sheet restructuring that would convert $214 million of debt to
100% of the common stock of the reorganized company.

The Debtor disclosed $272,205,337 in assets and $300,375,946 in
liabilities as of the Chapter 11 filing.

The cases are assigned to Judge Mary F. Walrath.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as
attorneys; Lazard Freres & Co. LLC, as financial advisor; and
Donlin, Recano & Co., Inc., as claims and noticing agent.

On June 30, 2015, the Debtor filed a bankruptcy-exit plan and
explanatory disclosure statement.  

The U.S. Trustee overseeing the Chapter 11 case appointed five
creditors to serve on an official committee of unsecured
creditors.  The Committee is represented by Brown Rudnick LLP., and
Morris, Nichols, Arsht & Tunnel LLP.



BOOMERANG TUBE: Lazard Freres Approved as Investment Banker
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Boomerang Tube, LLC, et al., to employ Lazard Freres & Co., LLC, as
investment banker.

Prior to the objection deadline, the Debtors received informal
comments from the Office of the U.S. Trustee.  As a result of
discussions with the U.S. Trustee, the Debtors have revised the
proposed order approving the application.  No other objections or
responses were received, and the Debtors request entry of the
revised proposed order at the earliest convenience of the Court.

At the behest of the U.S. Trustee, the Order provides, "This Order
and the record relating to the Court's consideration of the
Application shall not prejudice or otherwise affect the rights of
the U.S. Trustee to challenge the reasonableness of Lazard's fees
under the standard set forth in section 330 of the Bankruptcy
Code.

Accordingly, nothing in this Order or the record shall constitute
a finding of fact or conclusion of law binding on the U.S. Trustee,
on appeal or otherwise, with respect to the reasonableness of
Lazard's fees based on the standard provided for
in section 330 of the Bankruptcy Code."

As reported in the TCR on July 9, 2015, the Debtors sought
authorization to employ Lazard Freres as investment banker, nunc
pro tunc to the June 9, 2015 petition date.  Lazard Freres is
expected to, among other things:

   (a) assist the Debtors in identifying and evaluating candidates
       for any potential Sale Transaction, advising the Debtors in
       connection with negotiations and aiding in the consummation
       of any Sale Transaction;

   (b) review and analyze the Debtors' business, operations and
       Financial projections; and

   (c) assist in the determination of a range of values for the
       Debtors on a going concern basis.

The Debtors and Lazard have agreed to these terms of compensation
(the "Fee Structure"):

  -- A monthly fee of $150,000 (the "Monthly Fee"), which will
     accrue and be earned commencing with the first day after
     Boomerang Tube, LLC or any of its controlled subsidiaries has
     filed a petition for relief under chapter 11 of the
     Bankruptcy Code (the "Monthly Fee Commencement Date") and
     continuing until the earlier of the completion of the
     Restructuring or Sale Transaction, or the termination of
     Lazard's engagement pursuant to Section 10.

  -- A fee equal to $3,000,000, payable upon the consummation of a
     Restructuring (the "Restructuring Fee"); provided that:

     - If a Restructuring is consummated pursuant to a Prepackaged
       Plan, or the Company completes a Liquidation, the
       Restructuring Fee will be $500,000; and

     - If the Debtors direct Lazard in writing to discontinue
       efforts to market and consummate a Sale Transaction after
       the 31st day and on or before the 60th day after execution
       of this Agreement, and either a Restructuring is
       consummated on an out-of-court basis (without significant
       involvement or advice from Lazard), or pursuant to a
       Prepackaged Plan, or the Debtors complete a Liquidation,
       the Restructuring Fee will be $1,500,000.

     - If, whether in connection with the consummation of a
       Restructuring or otherwise, the Debtors consummate a Sale
       Transaction incorporating all or a majority of the assets
       or all or a majority or controlling interest in the equity
       securities of the Debtors, a fee (the "Sale Transaction
       Fee") equal to the greater of (i) $3,000,000 or (ii) 1.5%
       of the Aggregate Consideration, as defined in Schedule I
       hereto.

     - If a Restructuring Fee and a Sale Transaction Fee are both
       payable under the terms of this Agreement, only the Sale
       Transaction Fee will be payable.

  -- In addition to any fees that may be payable to Lazard and,
     regardless of whether any transaction occurs, the Debtors
     will promptly reimburse Lazard for all reasonable expenses
     incurred by Lazard (including travel and lodging, data
     processing and communications charges, courier services and
     other expenditures) and the reasonable fees and expenses of
     one firm of counsel, if any, retained by Lazard.

Timothy R. Pohl, managing director of Lazard Freres, 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.

                       About Boomerang Tube

Boomerang Tube, LLC, is a manufacturer of welded Oil Country
Tubular Goods ("OCTG") in the United States.  OCTG are used by
drillers in exploration and production of oil and natural gas and
consist of drill pipe, casing and tubing.  Boomerang has corporate
offices in Chesterfield, Missouri and manufacturing facilities in
Liberty, Texas, strategically located near major steel production
centers and end-user markets.  With a 487,000 square foot plant
that houses two mills and heat treat lines and a contingent 119
acres, these facilities constitute the second largest alloy OCTG
mill in North America.  Access Tubulars, LLC, owns 81% of the
equity interests in Boomerang.

Boomerang Tube and its subsidiaries BTCSP LLC and BT Financing
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
15-11247) on June 9, 2015, with a deal with lenders on a balance
sheet restructuring that would convert $214 million of debt to
100% of the common stock of the reorganized company.

The Debtor disclosed $272,205,337 in assets and $300,375,946 in
liabilities as of th Chapter 11 filing.

The cases are assigned to Judge Mary F. Walrath.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as
attorneys; Lazard Freres & Co. LLC, as financial advisor; and
Donlin, Recano & Co., Inc., as claims and noticing agent.

Boomerang Tube disclosed $272,205,337 in assets and $300,375,946 in
liabilities as of the Capter 11fiing

On June 30, 2015, the Debtor filed a bankruptcy-exit plan and
explanatory disclosure statement.  

The U.S. Trustee overseeing the Chapter 11 case appointed five
creditors to serve on an official committee of unsecured
creditors. The Committee is represented by Brown Rudnick LLP., and
Morris, Nichols, Arsht & Tunnel LLP.



BOOMERANG TUBE: Obtains Final Approval of $145-Mil. DIP Financing
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware gave
Boomerang Tube, LLC, et al., final authority to obtain postpetition
financing in the amount of up to $145,000,000 and use cash
collateral securing their prepetition indebtedness.

The postpetition financing would consist of a $60 million new-money
term loan provided by a group of prepetition term lenders and an
asset-based loan of up to $85 million from Wells Fargo Capital
Finance, LLC, and Bank of America, N.A.  Cortland Capital Market
Services LLC would serve as administrative agent on the term loan,
while WFCF would serve as administrative agent on the ABL.

The Term DIP Lenders have agreed to fund $60 million in new money
and the ABL DIP Lenders have agreed to allow the use of cash
collateral to permit the Debtors to operate and fund administrative
expenses pending confirmation of a chapter 11 plan and to advance
up to $85 million under the ABL DIP Facility.

The Official Committee of Unsecured Creditors objected to the final
approval of the motion, stating that the DIP financing, if
approved, would serve only the interests of DIP lenders, placing
Access Tubulars, LLC, and its affiliates, and Black Diamond in
effective control of these cases and, to all other parties in
interest, benefiting them alone.  

Access, the Debtors' private equity sponsor, in response, asserted
that it will continue to support a consensual plan whereby
unsecured creditors will receive a recovery, and Access encourages
the steering committee of Term Loan lenders and the Committee to
put away their litigation arsenal and focus on how reorganized
Boomerang can promptly emerge from Chapter 11 and thrive for the
benefit of the many employees and stakeholders that depend on it.

Cortland Capital Market Services LLC, the collateral agent of the
Term Dip Lenders, responded to the Committee's objection, stating
that without the DIP funding, the Debtors would be forced to shut
their doors and liquidate.  The Term DIP Lenders are undertaking a
significant amount of risk by infusing an additional $60,000,000 of
capital in the Company, a risk that justifies the pricing and
protections required by the Term Dip Lenders, Cortland told the
Court.

The Debtors, also in response to the Committee, argued that they
strongly believed that an out-of-court restructuring was the best
way to inject new capital in the business, restructure their
balance sheet and maximize value for the benefit of all
stakeholders.  To that end, Access offered to make a substantial
new equity investment as part of an out-of-court transaction
conditioned on a significant reduction of the Term Loan Facility,
continuation of the ABL Facility on modified terms, and full
payment of general unsecured creditors, the Debtors said.

The Debtors are represented by:

          Robert S. Brady, Esq.
          Edmon L. Morton, Esq.
          Sean M. Beach, Esq.
          Margaret Whiteman Greecher, Esq.
          Ryan M. Bartley, Esq.
          YOUNG CONAWAY STARGATT & TAYLOR, LLP
          Rodney Square
          1000 North King Street
          Wilmington, Delaware 19801
          Tel: (302) 571-6600
          Fax: (302) 571-1253
          Email: rbrady@ycst.com
                 emorton@ycst.com
                 sbeach@ycst.com
                 mgreecher@ycst.com
                 rbartley@ycst.com

The Committee of Unsecured Creditors is represented by:

          Derrek C. Abbot, Esq.
          Curtis S. Miller, Esq.
          Matthew R. Koch, Esq.
          MORRIS,NICHOLS, ARSHT & TUNNEL LLP
          1201 North, Market Place, Suite 1600
          Wilmington, Delaware, 19801
          Tel: (302) 658-9200
          Fax: (302) 425-4664
          Email:  dabbott@mnat.com
                  cmiller@mnat.com
                  mkoch@mnat.com   


             -- and --

          Steven D. Pohl, Esq.
          Sunni P. Beville, Esq.
          Brian T. Rice, Esq.
          BROWN RUDNICK LLP
          One Financial Center
          Boston, Massachusetts 02111
          Tel: (617) 856-8200
          Fax: (617) 289-0433
          Email: spohl@brownrudnick.com
                 sbeville@brownrudnick.com
                 brice@brownrudnick.com

             -- and --

          Bennet S. Silverberg, Esq.
          BROWN RUDNICK LLP
          Seven Times Square
          New York, New York 10036
          Tel: (212) 209-4800
          Fax: (212) 209-4801
          Email: bsilverberg@brownrudnick.com

Access Tubulars, LLC, Access Tubular Lender LLC, and Access Tubular
Investments LLC is represented by:

          L. Katherine Good, Eqs.
          WHITEFORD, TAYLOR & PRESTON LLC
          The Renaissance Center
          405 North King Street, Suite 500
          Wilmington, Delaware 19801
          Tel: (302) 353-4144
          Fax: (302) 661-7950
          Email: kgood@wtplaw.com

             -- and --

          Susheel Kirpalani, Esq.
          Rex Lee, Esq.
          Daniel Holzman, Esq.
          Kate Scherling, Esq.
          QUINN EMANUEL URQUHART & SULLIVAN, LLP
          51 Madison Avenue
          New York, New York 10010
          Tel: (212) 849-7000
          Fax: (212) 849-7100
          Email: susheelkirpalani@quinnemanuel.com
                 rexlee@quinnemanuel.com
                 danielholzman@quinnemanuel.com  
                 katescherling@quinnemanuel.com

Cortland Capital Market Services LLC is represented by:

          William E. Chipman Jr., Esq.
          CHIPMAN BROWN CICERO & COLE, LLP
          1007 North Orange Street, Suite 1110
          Wilmington, Delaware 19801
          Tel: (302) 295-0191
          Fax: (302) 295-0199
          Email: chipman@chipmanbrown.com

             -- and --

          Michael C. Rupe, P.C., Esq.
          Christopher G. Boies, P.C., Esq.
          KING & SPALDING  LLP
          1185 Avenue of the Americas
          New York, New York 10036
          Tel: (212) 556-2135
          Fax: (212) 556-2222
          Email: cboies@kslaw.com
                 mrupe@kslaw.com

             -- and --

          W. Austin Jowers, P.C., Esq.
          KING & SPALDING  LLP
          1180 Peach Tree
          Atlanta Georgia 30309
          Tel: (404) 572-4600
          Fax: (404) 572-5100
          Email: wjowers@kslaw.com

                          About Boomerang Tube

Boomerang Tube, LLC, is a manufacturer of welded Oil Country
Tubular Goods ("OCTG") in the United States.  OCTG are used by
drillers in exploration and production of oil and natural gas and
consist of drill pipe, casing and tubing.  Boomerang has corporate
offices in Chesterfield, Missouri and manufacturing facilities in
Liberty, Texas, strategically located near major steel production
centers and end-user markets.  With a 487,000 square foot plant
that houses two mills and heat treat lines and a contingent 119
acres, these facilities constitute the second largest alloy OCTG
mill in North America.  Access Tubulars, LLC, owns 81% of the
equity interests in Boomerang.

Boomerang Tube and its subsidiaries BTCSP LLC and BT Financing
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
15-11247) on June 9, 2015, with a deal with lenders on a balance
sheet restructuring that would convert $214 million of debt to
100% of the common stock of the reorganized company. The cases are
assigned to Judge Mary F. Walrath.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as
attorneys; Lazard Freres & Co. LLC, as financial advisor; and
Donlin, Recano & Co., Inc., as claims and noticing agent.


BOOMERANG TUBE: Zolfo Cooper OK'd to Provide Mgt. Services
----------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware authorized Boomerang Tube, LLC, et al., to
employ Zolfo Cooper Management, LLC to:

   -- provide interim management services;

   -- designate Kevin Nystrom as chief restructuring officer,
interim executive officer and president for the Debtors, nunc pro
tunc to the Petition Date; and

   -- provide certain associate directors to assist the CRO,
Interim CEO and president.

Mr. Nystrom will continue to serve as the Debtors' CRO, interim
CEO, and president, and Zolfo Cooper will assign associate
directors to perform other services as needed pursuant to the
agreement.  Zolfo Cooper and Mr. Nystrom will lead the Debtors'
restructuring efforts as directed by the Debtors' Board of
Directors. Some of the specific responsibilities will include:

   (a) leading and directing the implementation of the Debtors'
       business plan;

   (b) meeting and negotiating with creditors and their advisors;

   (c) evaluating restructuring alternatives;

   (d) reviewing and modifying the 13-week cash flow forecast and
       long-term business plan;

   (e) continued development of a Chapter 11 plan and obtaining
       confirmation of a Chapter 11 plan; and

   (f) such other restructuring areas and issues as are
       customarily performed by a chief restructuring officer,
       chief executive officer and president.

As set forth in the Agreement, Zolfo Cooper's, Mr. Nystrom's, and
the Associate Directors' compensation will consist of:

   -- Standard Hourly Rates: Zolfo Cooper's fees for the services
      will be based on the hours charged at their standard hourly
      rates that are in effect when the services are rendered;
      Zolfo Cooper's rates generally are revised semiannually.
      The billing rates for professionals who may be assigned to
      This engagement in effect as of Jan. 1, 2015, are:

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

   -- Expenses: Reimbursement of Mr. Nystrom, Associate Directors,
      and Zolfo Cooper's reasonable out-of-pocket expenses
      including, but not limited to, costs of travel,
      reproduction, legal counsel (including legal counsel
      retained to draft and enforce the Agreement), any applicable
      state sales or excise tax, and other direct expenses.

   -- Advance Payments: The Debtors provided prepetition advance
      payments throughout the course of the prepetition
      engagement. Zolfo Cooper applied prepetition fees and
      expenses against the advance payments.

   -- Retainer: The Debtors provided a prepetition retainer of
      $100,000.

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

                        About Boomerang Tube

Boomerang Tube, LLC, is a manufacturer of welded Oil Country
Tubular Goods ("OCTG") in the United States.  OCTG are used by
drillers in exploration and production of oil and natural gas and
consist of drill pipe, casing and tubing.  Boomerang has corporate
offices in Chesterfield, Missouri and manufacturing facilities in
Liberty, Texas, strategically located near major steel production
centers and end-user markets.  With a 487,000 square foot plant
that houses two mills and heat treat lines and a contingent 119
acres, these facilities constitute the second largest alloy OCTG
mill in North America.  Access Tubulars, LLC, owns 81% of the
equity interests in Boomerang.

Boomerang Tube and its subsidiaries BTCSP LLC and BT Financing
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
15-11247) on June 9, 2015, with a deal with lenders on a balance
sheet restructuring that would convert $214 million of debt to
100% of the common stock of the reorganized company.

The Debtor disclosed $272,205,337 in assets and $300,375,946 in
liabilities as of th Chapter 11 filing.

The cases are assigned to Judge Mary F. Walrath.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as
attorneys; Lazard Freres & Co. LLC, as financial advisor; and
Donlin, Recano & Co., Inc., as claims and noticing agent.

Boomerang Tube disclosed $272,205,337 in assets and $300,375,946 in
liabilities as of the Capter 11fiing

On June 30, 2015, the Debtor filed a bankruptcy-exit plan and
explanatory disclosure statement.  

The U.S. Trustee overseeing the Chapter 11 case appointed five
creditors to serve on an official committee of unsecured
creditors.  The Committee is represented by Brown Rudnick LLP., and
Morris, Nichols, Arsht & Tunnel LLP.



CAL DIVE: Akin Gump Says BofA's Bid to Disallow Fees Misplaced
--------------------------------------------------------------
Bank of America NA's motion to disallow about $397,000 in fees and
expenses is misplaced and reflects frustration with in the Chapter
11 case of Cal Dive International, Inc., Jim Christie at Reuters
reports, citing Akin Gump Strauss Hauer & Feld.

According to Reuters, Akin Gump defended on Aug. 17, 2015, its
billings in the Cal Dive case.  Reuters relates that Bank of
America, the agent for Cal Dive's debtor-in-possession lenders,
called for the cuts and holding Akin Gump's compensation and
expenses in Cal Dive's Chapter 11 case to roughly $576,500.

                         About Cal Dive

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 amended the committee of unsecured
creditors in the case from five-member committee to four members.
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.


CARETRUST REIT: Moody's Revises Outlook to Pos. & Affirms B2 CFR
----------------------------------------------------------------
Moody's Investors Service revised the outlook of CareTrust REIT,
Inc. to positive from stable.  In addition, Moody's affirmed the B2
corporate family rating and B2 senior unsecured rating.

RATINGS RATIONALE

This rating action follows the announcement that CareTrust is under
contract to purchase a portfolio of 14 skilled nursing and senior
housing assets in Ohio for $175 million from Liberty Nursing
Centers.  This transaction, along with other accretive acquisitions
executed over the past 12 months, is expected to meaningfully
reduce the REIT's tenant concentration with Ensign to below 70% of
revenues, a distinct credit positive.  In addition, because all
acquisitions to date have been primarily funded with cash or
equity, the company's key credit metrics are expected to improve
materially.  Leverage, as defined by Net Debt/EBITDA, is expected
to decline to below 6.0x from 6.6x at 2Q15, while Fixed Charge
Coverage is expected to increase to above 2.5x from 2.3x at 2Q15.

CareTrust has grown significantly in the past year, and Moody's
anticipates that the company will continue to actively pursue
acquisitions.  The company recently refinanced its existing secured
revolving credit facility with a new $300 million unsecured
revolving credit facility, which matures in August 2019 with two
six-month extension options and an accordion feature allowing for
an additional $200 million of capacity.  This new facility
unencumbered a significant portion of the portfolio and should
provide the company with more financial flexibility to seek out new
investment opportunities and continue to grow.  Moody's expects
that all future acquisitions will be funded with a conservative mix
of debt and equity.

The positive outlook reflects CareTrust's current and expected
improvement in tenant concentration and credit metrics, which we
anticipate will help the company achieve Moody's stated criteria
for an upgrade.  The REIT has executed or announced a number of
acquisitions this year, all of which represent new operator
relationships.  The positive outlook also reflects the successful
integration of these acquisitions and in particular that of the
Liberty portfolio, which will be run by a new operator Pristine
Senior Living.

Moody's stated that an upgrade would result from increased size in
gross assets to above $800 million, Net Debt/EBITDA below 5.5x, a
reduction in tenant concentration such that no tenant represents
>80% of revenues, fixed charge coverage above 2.5x and effective
leverage below 50% of gross assets.  A downgrade would be likely
should the company experience a substantial deterioration in
EBITDAR coverage ratios on a sustained basis, fixed charge coverage
below 2.0x on a sustained basis and/or material increases in
secured debt could create subordination and pressure on the senior
unsecured debt rating.

Moody's last rating action with respect to CareTrust REIT was on
May 13, 2014 when Moody's assigned a first time issuer rating and
senior unsecured rating with a stable outlook.

CareTrust REIT, Inc specializes in the ownership and management of
triple-net leased senior housing facilities in the western U.S.  As
of 2Q15 CareTrust's portfolio consisted 107 real estate properties
located in twelve states.  The company's gross asset value as of
2Q15 was $626 million.

The principal methodology used in these ratings was Global Rating
Methodology for REITs and Other Commercial Property Firms published
in July 2010.



CASA MEDIA: Needs Until Oct. 11 to File Plan
--------------------------------------------
Casa Media Partners, LLC and Casa en Denver, Inc., ask the United
States Bankruptcy Court for Southern District of Florida, Miami
Division, for a 60-day extension of their exclusive periods to file
a disclosure statement and plan and solicit and obtain acceptances
of that plan.

Specifically, the Debtors ask the Court to extend until Oct. 11,
2015, their exclusive period to file a plan and until Dec. 11,
2015, their exclusive period to solicit acceptances of that plan.

In an agreed motion, the Debtors relate that they and Bank of
Commerce have been involved in substantive settlement discussions
stemming from an in-person settlement conference held between the
Parties.  Due to the nature and size of Bank of Commerce's claim as
a secured creditor, potential settlement terms could involve the
avoidance of claims or, altogether, negate the necessity for
bankruptcy protection.

Casa Media Partners, LLC, and Casa en Denver, Inc., are represented
by:

          Kristopher E. Aungst, Esq.
          Michael C. Foster, Esq.
          TRIPP SCOTT, P.A.
          110 S.E. 6th Street, 15th Floor
          Fort Lauderdale, FL 33301
          Tel: 954-525-7500
          Fax: 954-761-7500
          Email: kea@trippscott.com
                 mcf@trippscott.com

                 About Casa Media

Casa Media Partners, LLC, and Casa en Denver, Inc. commenced
Chapter 11 bankruptcy cases (Bankr. S.D. Fla. Case Nos. 15-16741
and 15-16746) in Miami, Florida on April 15, 2015.  The petition
was signed by Juan Salvador Gonzalez, the chief financial officer.

Judge Hon. Robert A Mark presides over the cases.  The Debtors are
represented by Kristopher Aungst, Esq., at Tripp Scott, P.A., as
their counsel.  According to the docket, the deadline to file
claims for governmental units is on Oct. 13, 2015.


CHARTER SCHOOL OF BOYNTON: S&P Cuts Rating on 2012A/B Bonds to 'D'
------------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating to
'D' from 'CC' on Boynton Beach, Fla.'s series 2012A tax-exempt and
2012B taxable revenue bonds, issued for and supported by the
Charter School of Boynton Beach.

"The downgrade reflects the school's missed payments on its bonds
due June 1, 2015," said Standard & Poor's credit analyst Carolyn
McLean.  The fully funded debt service reserve fund funded previous
payments as well as legal fees and other fees associated with the
closure of the school.

The charter authorizer, the School District of Palm Beach, voted
unanimously to revoke the school's charter on July 30, 2014.  The
charter revocation is based on Florida State statute that requires
the sponsor to terminate a school's charter if the school receives
a grade of 'F' for two consecutive years and has been in operation
for more than five years.  The Charter School of Boynton Beach had
a score of 'F' for the 2012-2013 and 2013-2014 school years.  S&P
expected that the bonds would likely default within the 24 months
of closure given that the charter school no longer had access to
operating revenue once the charter was revoked.



CITIZENS FINANCIAL: Fitch Affirms 'BB-' Preferred Stock Rating
--------------------------------------------------------------
Fitch Ratings has affirmed the long-term and short-term Issuer
Default Ratings (IDRs) of Citizens Financial Group, Inc. (CFG) and
its subsidiaries at 'BBB+' and 'F2', respectively.  The Rating
Outlook is Stable.  CFG's Viability Rating (VR) has also been
affirmed at 'bbb+'.

CFG is an indirect subsidiary of the Royal Bank of Scotland Group
plc (RBS), rated 'BBB+' by Fitch.  Following last year's initial
public offering (IPO), and subsequent stock repurchase activity,
RBS' remaining ownership interest in CFG has declined to 20.9%.
Reflecting the planned separation from RBS, to be completed by
year-end (YE) 2016, and the diminishing ownership interest, Fitch
has downgraded CFG's Support Rating to '5' from '2' indicating that
support can no longer be relied upon.  The downgrade in Support
ratings had no impact on any of CFG's other ratings as its ratings
are based on its stand-alone strength.

KEY RATING DRIVERS

VRs, IDRs and Senior Unsecured Debt

The affirmation of CFG's IDR and VR is driven by the entity's good
capital profile, improving asset quality, and attractive deposit
franchise in its core operating footprint.  Fitch views favorably
CFG's capital targets, including a Tier 1 common equity ratio of
11% over the near term.  However, over the longer term Fitch
expects capital will be managed lower given higher targeted pay-out
goals, though the company plans to maintain a cushion over
regulatory minimums until its performance is relatively in line
with peers.  Additionally, CFG's historical loan losses tend to
track around the large regional peer averages, but asset quality
has improved since the financial crisis.

CFG continues to report good capital ratios with Common Equity Tier
1 ratio of 11.8%, at the end of second quarter 2015 (2Q'15), down
approximately 4 basis points (bps) on a linked-quarter basis due
primarily to some balance sheet growth.  This and other capital
ratios compare favourably relative to large regional bank peer
averages.  As noted, Fitch expects CFG's capital ratios will
decrease over time, but believes the company will remain
appropriately capitalized for its risk profile.

CFG's asset quality continues to improve in terms of
Fitch-calculated nonperforming assets (NPAs) and the steady run-off
of non-core assets.  CFG's Fitch-calculated NPA ratio at the end
1Q'15 was 2.16%, an improvement from 3.04% recorded at the YE2010.
Though improved, CFG's NPAs, both including and excluding TDRs, are
moderately higher than the large regional peer average, primarily
attributed to large balances of residential mortgage and home
equity problem assets, which have improved with higher home prices
nationally, and are largely first lien secured.

Additionally, CFG's funding profile is considered somewhat weaker
relative to large regional peer averages given a higher loan to
deposit ratio, and higher portion of short-term borrowings.
However, Fitch notes deposit costs hover around large regional peer
averages, and CFG, since becoming public, has demonstrated
successful access to the capital markets through recent debt
raising activities.

It is also noteworthy that CFG maintains a strong presence in its
core operating footprint, ranking in the top three for deposit
market share in Rhode Island, New Hampshire, Massachusetts, and
Pennsylvania.  Such solid positioning in its operating footprint
has transitioned into a favorable cost of funds relative to large
regional peer averages.

CFG's strengths are primarily offset by its comparatively weaker
earnings profile.  CFG's reported return on assets (ROA) in 2Q'15
was 56bps, well below the large regional peer average of
approximately 100bps.  Profitability in the past has been impacted
by the lack of investment in the franchise given issues at the
parent company.

CFG's profitability continues to lag large regional peers due
primarily to lower loan yields, as well as lower relative
contribution from fee income lines of business.  Further, fixed
costs remain relatively high due to the company's sizable retail
banking operations.  Following CFG's 2014 IPO, management outlined
a number of key initiatives aimed at improving profitability. Given
the earnings differential between CFG and its large regional peers,
Fitch expects CFG's earnings will not converge to peer averages
over the near-to-medium term time horizon without a meaningful
increase in short-term interest rates.  Recent strategic objectives
aimed at improving fee income may aid the company's earnings
profile over time as well.

Fitch notes that CFG's balance sheet is fairly asset sensitive and
well-positioned to aid earnings, should short-term interest rates
meaningfully rise.  Fitch expects that CFG may be well positioned
under a rising rate scenario with a greater ability to manage its
deposit costs given the make-up of the deposit footprint; however,
there is still a great deal of uncertainty regarding depositor
behavior under higher rates.

As the company continues the process of separating from the Royal
Bank of Scotland (rated 'BBB+'), its strategy has shifted.  Going
forward, CFG's strategy includes greater focus on expanding its
consumer lending capabilities and continuing momentum in commercial
lending noted above, while at the same time trying to improve
efficiencies and enhance returns.

Fitch does not view CFG's separation from RBS as having a material
impact on the company's franchise and profile.  CFG's strategy
historically relied more on the strength of its regional footprint,
as opposed to cross selling into RBS' international clients in the
U.S.  Further, CFG branding remained distinct from RBS, and at
times, its growth was curtailed by idiosyncratic issues at its
parent.

SUPPORT RATING

Prior to the divesture, CFG's Support Rating was based on
Institutional Support from RBS.  Given the limited interest (20.9%)
in CFG now owned by RBS, Fitch has changed the Support Rating from
Institutional Support to Sovereign Support.

CFG's Support Rating has been downgraded to '5' from '2' reflecting
the view that support can no longer be relied upon.  The IDRs and
VRs do not incorporate any support.  Fitch has assigned a Support
Rating Floor of 'No Floor' as the company's support rating is now
based on Sovereign Support, and no longer considered Institutional
Support.  In Fitch's view, CFG is not systemically important and
therefore, the probability of support is unlikely.

SUBORDINATED DEBT AND OTHER HYBRID SECURITIES

CFG's subordinated debt is notched one level below its VR.  CFG's
preferred stock is notched five levels below its VR.  These ratings
are in accordance with Fitch's criteria and assessment of the
instruments' non-performance and loss severity risk profiles. Thus,
these ratings have been affirmed due to the affirmation of the VR.
CFG's subordinated debt is notched two times from the VR for loss
severity, and two times for non-performance.  Conversely, CFG's
preferred stock is notched two times from the VR for loss severity,
and three times for non-performance.

LONG- AND SHORT-TERM DEPOSIT RATINGS

The uninsured deposit ratings of Citizens Bank, N.A. and Citizens
Bank of Pennsylvania are rated one notch higher than CFG's IDR and
senior unsecured debt because U.S. uninsured deposits benefit from
depositor preference.  U.S. depositor preference gives deposit
liabilities superior recovery prospects in the event of default.

HOLDING COMPANY

The IDR and VR of CFG are equalized with its two operating
companies, Citizens Bank, N.A. and Citizens Bank of Pennsylvania,
reflecting its role as a bank holding company, which is mandated in
the U.S. to act as a source of strength for its bank subsidiaries.

RATING SENSITIVITIES

VR, IDRs and Senior Unsecured Debt

Fitch views CFG's VR as currently well-situated at their current
levels, and likely to remain as such over the near term.

Going forward, positive rating momentum could emerge should
management continue to execute on its strategic initiatives and
enhance its franchise in key markets and products.  The key to this
would be whether execution of these strategies results in improved
profitability commensurate with higher rated peers. Coupled with
strategic execution and improved profitability, positive rating
momentum would incorporate an expectation that CFG maintains sound
asset quality and solid capital levels, consistent with higher
rated peers.

Negative rating action could arise should medium- to long-term
earnings remain below peer averages.  An inability by management at
CFG to align the company's earnings profile with large regional
averages would suggest a lack of execution and, thus, present
negative rating pressure.  Fitch believes CFG's earnings are likely
to remain below peer averages over the near term, which is why the
ratings are more sensitive to longer-term factors.  In addition,
Fitch views CFG's capital levels as a relative rating strength,
therefore, any a material reduction in capital levels which is not
offset by internal capital generation would be a negative rating
sensitivity.

Additionally, deterioration in asset quality or aggressive
reductions in capital ratios are factors that could lead to
negative ratings pressure.  Current ratings reflect Fitch's view
that there will continue to be some declines in CFG's capital
profile, though that it will be maintained at generally above peer
levels to compensate for lower capital generation capabilities.

Although CFG passed its most recent CCAR and DFAST reviews, Fitch
notes the company did fail its initial CCAR review during 2014
based on qualitative factors, and thus its ratings are sensitive
should it not pass either quantitatively or qualitatively.

SUPPORT

Since CFG's Support and Support Rating Floors are now '5' and 'NF',
respectively, there is limited likelihood that these ratings will
change over the foreseeable future.

SUBORDINATED DEBT AND OTHER HYBRID SECURITIES

The ratings for CFG and its operating companies' subordinated debt
and preferred stock are sensitive to any change to CFG's VR.

LONG- AND SHORT-TERM DEPOSIT RATINGS

The long-and short-term deposit ratings for Citizens Bank, N.A. and
Citizens Bank of Pennsylvania are sensitive to any change to CFG's
long- and short-term IDR.

SUBSIDIARY AND AFFILIATED COMPANIES

The IDRs and VRs of Citizens, N.A. and Citizens Bank of
Pennsylvania are equal to those of CFG, therefore they are broadly
sensitive to the same considerations that might affect CFG's IDR
and VR.

HOLDING COMPANY

Fitch could notch the holding company's ratings from the operating
companies if holding company liquidity were to deteriorate
materially, and raise concerns relative to the parent's ability to
meet its obligations.

Fitch has taken these rating actions:

Citizens Financial Group, Inc.

   -- Long-term IDR affirmed at 'BBB+'; Outlook Stable;
   -- Short-term IDR affirmed at 'F2';
   -- Viability rating affirmed at 'bbb+';
   -- Subordinated debt affirmed at 'BBB';
   -- Preferred stock affirmed at 'BB-';
   -- Support rating downgraded to '5' from '2'.
   -- Support rating floor assigned at 'NF.'

Citizens, NA

   -- Long-term IDR affirmed at 'BBB+'; Outlook Stable;
   -- Short-term IDR affirmed at 'F2';
   -- Viability rating affirmed at 'bbb+';
   -- Support rating downgraded to '5' from '2';
   -- Long-term deposits affirmed at 'A-';
   -- Senior unsecured affirmed at 'BBB+';
   -- Short-term deposits affirmed at 'F2';
   -- Support rating floor assigned at 'NF.'

Citizens Bank of Pennsylvania

   -- Long-term IDR affirmed at 'BBB+'; Outlook Stable;
   -- Short-term IDR affirmed at 'F2';
   -- Viability rating affirmed at 'bbb+';
   -- Support rating downgraded to '5' from '2';
   -- Long-term deposits affirmed at 'A-';
   -- Short-term deposits affirmed at 'F2';
   -- Support rating floor assigned at 'NF.'



COCO BEACH: Bank, U.S. Trustee Object to Sale of Property
---------------------------------------------------------
Guy G. Gebhardt, Acting U.S. Trustee for Region 21, Banco Popular
de Puerto Rico, and the Puerto Rico Tourism Development Fund oppose
Coco Beach Golf's motion to sell its property and asked the United
States Bankruptcy Court for the District of Puerto Rico to deny
approval of the sale.

The U.S. Trustee asserts that the Motion to Sell is unclear as to
what will happen to the carcass of the Debtor if the sale is
consummated, whether there is a carve-out being considered for the
benefit of unsecured creditors, and whether the Debtor will be
seeking conversion, dismissal, or a liquidated plan, after the
sale.  The property to be sold is subject to a $26,400,000 million
bond-issuing government loan now in default at $32,600,000, which
will be paid by all taxpayers.  Under the circumstances, the Debtor
has not established that the price to be paid for the real property
is fair and reasonable, the U.S. Trustee further asserts.

BPPR, as Trustee of the bondholders of the Tourism Revenue
Refunding Bonds, 2011 Series A of Puerto Rico Industrial, Tourist,
Educational, Medical and Environmental Control Facilities Financing
Authority, complains that it was not notified of the petition nor
of the Motion to Sell the Property.  BPPR joins the U.S. Trustee's
Objection and Opposition principally due to the Debtor's failure to
notify BPPR of the petition and the proposed disposition of the
bondholders' collateral.

The Debtor, in response to the U.S. Trustee's objection, argued
that the Sale satisfies the "sound business purpose test," is a
proper exercise of its business judgment, and is in the best
interest of the estate.  The operations of the Golf & Country Club
are no longer sustainable, thus the Sale will ensure that the
continuance of the operations of the Golf & Country Club, avoiding
the closing of the Golf & Country Club, maintaining jobs in Puerto
Rico's depressed economy and will inure to the benefit of the
estate and the Commonwealth of Puerto Rico, the Debtor tells the
Court.  Certainly, waiting to sell the Golf & Country Club under a
plan will be detrimental to all creditors, parties in interest and
to the bankruptcy estate, the Debtor argues.

The Debtor, in response to TDF's opposition, explains that it has
provided TDF with the information requested thereby during the
meeting held on July 28, 2015 and will work in conjunction
therewith for an expeditious resolution of the case, with the best
interest of all parties in interest in mind, including those of the
Commonwealth of Puerto Rico of boosting its economy by promoting
economic development, tourism
and generating jobs.

The Debtor is represented by:

          Charles A. Cuprill-Hernández, Esq.
          CHARLES A. CUPRILL, P.S.C., LAW OFFICES
          356 Fortaleza Street - Second Floor
          San Juan, PR 00901
          Tel: (787) 977-0515
          Fax: (787) 977-0518
          E-Mail: ccuprill@cuprill.com

Banco Popular de Puerto Rico is represented by:

          Jorge I. Peirats, Esq.
          PIETRANTONI MENDEZ & ALVAREZ LLC
          Banco Popular Center, 19th Floor   
          208 Ponce de León Avenue
          San Juan, Puerto Rico 00918
          Tel: (787) 274-1212
          Fax: (787) 274-1470           
          Email:  jpeirats@pmalaw.com

                      About Coco Beach Golf

Coco Beach Golf & Country Club, S.E., owner of a first class golf
and country club in Rio Grande, Puerto Rico, currently operating
under the name of Trump International Golf Club Puerto Rico,
sought Chapter 11 protection (Bankr. D.P.R. Case No. 15-05312) in
Old San Juan, Puerto Rico, on July 13, 2015, and immediately filed
a motion seeking to sell most of the assets for $2.04 million in
cash to OHorizons Global, LLC, subject to higher and better
offers.

Charles Alfred Cuprill, Esq., at Charles A Cuprill, P.S.C. Law
Offices, serves as counsel to the Debtor.


COMARK INC: Pacific West Acquires Business & Assets
---------------------------------------------------
Pacific West Commercial Corporation, an affiliate of
Vancouver-based Stern Partners Inc., on Aug. 20 announced the
closing of the previously announced acquisition of the business and
assets of Comark Inc. Comark, a leading Canadian specialty fashion
retailer serving customers through its 300 stores operating under
the Ricki's, Bootlegger and cleo banners, had sales of
approximately $344 million in its fiscal year ended 2015.  As a
result of the acquisition, Comark's retail banners will carry on
business as separate affiliates of Stern Partners.  The new owners
have offered jobs to nearly all of Comark's more than 3,000
employees.
Terms were not disclosed by the private parties.

"We are excited about the future prospects of Ricki's, Bootlegger
and cleo and the specialty retail fashion market in Canada," said
Ronald N. Stern, President of Stern Partners.  "We are confident in
the underlying business and believe that, with Comark's liquidity
issues behind it, the business is poised for success.  We are
excited about growing the business with the companies' valued
employees, customers and suppliers across Canada.  We also wish to
welcome the employees to our group.  The strong employee talent
pool represents one of the key elements that attracted us to this
acquisition."

Stern Partners has significant retail experience with controlling
interests in two national retailers, Warehouse One and Urban Barn.
Additional information about Warehouse One and Urban Barn can be
found at www.warehouseone.com and www.urbanbarn.com

Comark President and CEO Gerry Bachynski said: "I'm pleased that
the purchase means almost all of the Ricki's, Bootlegger and cleo
stores across Canada are remaining open, and I'm equally pleased
that substantially all of our dedicated employees continue to have
the opportunity to work with the new Canadian owners."  

Mr. Bachynski will continue in a senior leadership position with
the business.  "I wish to again thank our loyal employees,
customers and suppliers for continuing to support us as we exit the
restructuring process.  I believe Stern Partners will be a great
owner for this business due to its significant retail experience,
its Canadian heritage and its commitment to building growth and
value with a long-term investment horizon."

A portion of the cash proceeds received by the Company on closing
of the acquisition will be used to satisfy amounts owing to the
Company's secured lender, Salus Capital Partners.  The remainder of
those proceeds are being held by Alvarez & Marsal Canada Inc., the
Companies' Creditors Arrangement Act ("CCAA") Court-appointed
monitor.  Any remaining proceeds, after customary adjustments for
working capital and other items, would be available for unsecured
creditors.

Pacific West's legal and financial advisors included Fasken
Martineau DuMoulin LLP, Lawson Lundell LLP, and
PricewaterhouseCoopers.  In addition to Alvarez & Marsal, Comark's
legal and financial advisors included Osler, Hoskin, Hoskin &
Harcourt LLP, Houlihan Lockey and KPMG.  Goodmans LLP acted as
legal counsel to Alvarez & Marsal and Aird & Berlis LLP acted as
legal counsel to Salus.

Additional information regarding the Company's CCAA proceedings,
including court materials, is publicly available on the Monitor's
website at www.alvarezandmarsal.com/comark-inc

                      About Stern Partners

Stern Partners -- http://www.sternpartners.com-- is the lead
investor in a diverse range of operating companies across a variety
of industries, including multi-location retailing, manufacturing,
distribution, packaging, publishing and printing, environmental
services, real estate and other investments.  Stern's current
investments include over 14 stand-alone businesses with annual
revenues ranging from $20 million to $300mm.  The group has
significant retail investing experience in Canada with interests in
two national retailers, Warehouse One and Urban Barn.

                      About Comark Inc.

Comark -- http://www.comark.ca-- is one of Canada's leading
specialty apparel retailers. Established in 1976, the Company today
has approximately 300 stores operating under three divisions:
Ricki's, Bootlegger and cleo.  Comark stores are located in
shopping malls, big box power centres and strategic suburban plazas
across Canada.  The Company's long history throughout the country
has fostered tremendous customer loyalty within each division's
target market.  Each of the divisions targets a segment of Comark's
clearly defined customer base, ranging from young adults to the
New50 Woman, with a mix of exclusive private-label and nationally
branded products.


CONGREGATION BIRCHOS: Agrees to Provide Adequate Protection to TCF
------------------------------------------------------------------
Congregation Birchos Yosef asks the United States Bankruptcy Court
for the Southern District of New York to approve a stipulation
under which the Debtor agrees to have the automatic stay modified
to provide additional adequate protection to TCF Equipment
Finance.

TCF Equipment Finance previously filed a motion to vacate the
automatic stay in relation to the collateral securing the loan it
granted to the Debtor.  In its Motion, TCF asserted that the Debtor
is delinquent under Note #1 and Note #2 as follows: (a) $13,827
arising after the Petition Date under Note #1 and representing
monthly payments due March 24, 2015, April 24, 2015, May 24, 2015,
June 24, 2015 and July 24, 2015; and (b) $18,990 arising after the
Petition Date under Note #2 and representing monthly payments due
March 6, 2015, April 6, 2015, May 6, 2015, June 6, 2015 and July 6,
2015.

Pursuant to the Stipulation, the Debtor will provide proof of
insurance to TCF concerning the Collateral immediately after
approval of the Stipulation and agrees to maintain property
insurance coverage with respect to the Collateral.  The parties
also agreed that monthly payments of $2,000 against the Arrears
starting August 1, 2015 and continuing on the 1st day of each and
every month thereafter until the Post-Petition Arrears are paid in
full.

The failure of the Debtor to make any of the payments due to TCF
for the Collateral or maintain proof of adequate insurance on the
Collateral or failure to provide notice of insurance change
information or make the payments due under the Stipulation will
constitute a default.  Notice of the default will be sent by TCF or
its counsel via regular mail to the Debtor and by electronic and
regular mail to the Debtor's attorney.  If the Debtor fails to cure
a default within 10 days of the notice of default being sent to the
Debtor and Debtor’s counsel, TCF will be permitted to settle an
order vacating the stay vis-a-vis the Collateral with 7 days notice
to the Debtor, the Debtor’s attorney and the United States
Trustee.

Congregation Birchos Yosef is represented by:

          Eric Zabicki, Esq.
          PICK & ZABICKI LLP
          369 Lexington Avenue, 12th Floor
          New York, NY 10017
          Tel: (646) 561-9365
          Fax: (212) 695 6007

TCF Equipment Finance, a division of TCF National Bank is
represented by:

          Michael C. D'Aries, Esq.
          HELFAND & HELFAND
          350 Fifth Avenue, Suite 5330
          New York, NY 10118
          Tel: (212) 599-3303
          Fax: (212) 599-3029
          Email: mdaries@helfandlaw.com

                     About Congregation Birchos Yosef

Congregation Birchos Yosef is a religious corporation which was
formed on Jan. 16, 1985 for the purposes of creating and
maintaining a "House of Worship" in accordance with the traditions
of the Hebrew faith and to serve and advance the affairs of the
surrounding community under the leadership of the Grand Rebbe of
Nikolsburg.  Its principal office is located at 201 Route 306,
Monsey, New York.  It has real properties located in Spring Valley
and Monsey, New York.

Congregation Birchos Yosef sought bankruptcy protection (Bankr.
S.D.N.Y. Case No. 15-22254) in White Plains, New York, on Feb. 26,
2015.  Breindy Lebovits signed the petition as vice-president. The
Debtor estimated assets and debt of $10 million to $50 million.

Douglas J. Pick, Esq., at Pick & Zabicki LLP, in New York,
represents the Debtor as counsel.

The Debtor has until June 26, 2015, to exclusively file a Chapter
11 plan and disclosure statement.


COYOTE LOGISTICS: Moody's Confirms 'B2' CFR, Outlook Stable
-----------------------------------------------------------
Moody's Investors Service confirmed the ratings of Coyote
Logistics, LLC including its B2 Corporate Family Rating (CFR),
B2-PD Probability of Default Rating, and B2 instrument rating for
its $360 million Term Loan B (amount at initial rating in March
2015) and revised the rating outlook to Stable from Rating Under
Review-Up.  The conclusion of the review follows the Aug. 19
announcement that United Parcel Service, Inc (Aa3 negative)
successfully completed its $1.8 billion acquisition of Coyote from
Warburg Pincus.  Moody's expects to withdraw Coyote's ratings as a
result of the debt's retirement.

Confirmations:

Issuer: Coyote Logistics, LLC

  Corporate Family Rating, Confirmed at B2
  Probability of Default Rating, Confirmed at B2-PD
  Senior Secured Bank Credit Facility, Confirmed at B2(LGD3)

Outlook Actions:

Issuer: Coyote Logistics, LLC

  Outlook, Changed To Stable From Rating Under Review

RATINGS RATIONALE

The B2 CFR reflects Coyote's modest scale in terms of net revenue
as well as its limited operating history at its current size.  The
B2 rating also considers the company's strong position within the
trucking and logistics service provider industry (Coyote is one of
the top three truck brokers in the US), its blue-chip customer
base, and end market diversification across a number of sectors
characterized by stable demand.  The CFR incorporates Moody's
expectation that Coyote will operate as a wholly owned subsidiary
of UPS.

The principal methodology used in these ratings was Global Surface
Transportation and Logistics Companies published in April 2013.

Headquartered in Chicago, Illinois, Coyote Logistics, LLC is a
leading provider of trucking and logistics services within the
third-party logistics industry.



DAYA MEDICALS: Case Summary & 9 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Daya Medicals, Inc.
        5139 Pointe Alexis Drive
        Boca Raton, FL 33486

Case No.: 15-24931

Chapter 11 Petition Date: August 18, 2015

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Hon. Erik P. Kimball

Debtor's Counsel: Michael D. Moccia, Esq.
                  LAW OFFICE OF MICHAEL D. MOCCIA, PA
                  1200 N Federal Hwy #200
                  Boca Raton, FL 33432
                  Tel: 561-210-8510
                  Email: mdm@moccialaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Justin K. Daya, chief executive
officer.

List of Debtor's nine Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Dana L. Klein                      Judgment dated      $889,698
1435 Yellowheart Way                 2/18/2015
Hollywood, FL 33019

DKMC, Inc.                            Judgment               $0

Wexford Science &                   Unpaid Loan        $600,000
Technology, LLC
801 W Baltimore St
Baltimore, MD 21201

The Cullen Law Firm, PA             Unpaid Legal         $25,000
                                      services


Saliwanchik, Lloyd &                Unpaid Legal         $60,000
Eisenschenk, a Professional           services
Association

McDonald Hopkins LLC                Unpaid Legal         $15,000
                                      services

Law Office of Barry S.              Unpaid Legal         $25,000
Mittelberg, PA                       services

Roth, Jonas, Mittelberg &        Unpaid accounting        $5,000
Hartney, C.P.A.'S, P.A.               services

Internal Revenue Service            Unpaid taxes         $12,000
Central Insolvency Operation


DETROIT, MI: Sells First Municipal Bonds Since Emerging from Ch. 9
------------------------------------------------------------------
Aaron Kuriloff, writing for The Wall Street Journal, reported that
Detroit returned to the municipal-bond market for the first time
since the city emerged from bankruptcy, selling $245 million of
bonds to investors demanding a premium for the securities despite
extra protections for bondholders.

According to the report, citing Thomson Reuters Municipal Market
Data, the tax-exempt bonds, maturing in 2029, sold through the
Michigan Finance Authority, yielded 4.5%, more than a percentage
point higher than other single-A rated debt.  The bonds' safeguards
include a first claim on city income taxes, earning an
investment-grade rating from Standard & Poor's Ratings Services,
despite the city's credit rating, which is in junk territory, the
report related.

                   About the City of Detroit

The City of Detroit, Michigan, weighed down by more than $18
billion in accrued obligations, sought municipal bankruptcy
protection on July 18, 2013, by filing a voluntary Chapter 9
petition (Bankr. E.D. Mich. Case No. 13-53846).  Detroit estimated
more than $1 billion in both assets and debts.

Kevyn Orr, who was appointed in March 2013 as Detroit's emergency
manager, signed the petition.  Detroit is represented by lawyers
at
Jones Day and Miller Canfield Paddock and Stone PLC.

Michigan Governor Rick Snyder authorized the bankruptcy filing.

The filing makes Detroit the largest American city to seek
bankruptcy, in terms of population and the size of the debts and
liabilities involved.

The City's $18 billion in debt includes $5.85 billion in special
revenue obligations, $6.4 billion in post-employment benefits,
$3.5
billion for underfunded pensions, $1.13 billion on secured and
unsecured general obligations, and $1.43 billion on
pension-related
debt, according to a court filing.  Debt service consumes 42.5
percent of revenue.  The city has 100,000 creditors and 20,000
retirees.

Detroit is represented by David G. Heiman, Esq., and Heather
Lennox, Esq., at Jones Day, in Cleveland, Ohio; Bruce Bennett,
Esq., at Jones Day, in Los Angeles, California; and Jonathan S.
Green, Esq., and Stephen S. LaPlante, Esq., at Miller Canfield
Paddock and Stone PLC, in Detroit, Michigan.

Sharon Levine, Esq., at Lowenstein Sandler LLP, is representing
the
American Federation of State, County and Municipal Employees and
the International Union.

Babette Ceccotti, Esq., at Cohen, Weiss & Simon LLP, is
representing the United Automobile, Aerospace and Agricultural
Implement Workers of America.

A nine-member official committee of retired workers appointed in
the case is represented by Dentons US LLP.  Lazard Freres & Co.
LLC
serves as the Retiree Committee's financial advisor.

Detroit filed a notice that the effective date of its
bankruptcy-exit plan occurred on Dec. 10, 2014.  Judge Steven
Rhodes on Nov. 12, 2014, entered an order confirming the Eighth
Amended Plan for the Adjustment of Debts of the City of Detroit.

Thomas Tucker, a federal bankruptcy judge since 2003, took over
Detroit's landmark bankruptcy case following the retirement of
Judge Rhodes.


DORAL FINANCIAL: Berkeley OK'd as Committee's New Financial Advisor
-------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
authorized the Official Committee of Unsecured Creditors in the
Chapter 11 case of Doral Financial Corporation to retain Berkeley
Research Group, LLC, as substitute financial advisor, nunc pro tunc
to June 1, 2015.

Counsel for the Committee filed a certificate of no objection
regarding the application to retain Berkeley Research.

                      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 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.

The Committee's counsel can be reached at:

         Brian D. Pfeiffer, Esq.
         Taejin Kim, Esq.
         SCHULTE ROTH & ZABEL LLP
         919 Third Avenue
         New York, NY 10022
         Tel: (212) 756-2000
         Fax: (212) 593-5955



ECO SERVICES: Moody's Puts 'B2' CFR on Review for Downgrade
-----------------------------------------------------------
Moody's Investors Service has placed all ratings for Eco Services
Operations LLC on review for possible downgrade following PQ
Corporation's announcement that it intends to merge with Eco
Services in an equity-for-equity transaction expected to close in
the fourth quarter of 2015.  Affiliates of the private equity firm
CCMP Capital Advisors own large equity stakes in both companies and
will be the largest shareholder of the combined entity.  PQ has
stated that this transaction will not trigger the "change of
control" clause in Eco Services' notes, so they are likely to
remain outstanding at the close of the merger.  However, this
transaction will trigger the "change of control" clause in PQ's
debt.

Actions:

Issuer: Eco Services Operations LLC

  Corporate Family Rating, Placed on Review for Downgrade,
   currently B2;

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B2-PD;

  Senior Secured Revolving Credit Facility due 2019, Placed on
   Review for Downgrade, currently B1, LGD3;

  Senior Secured Term Loan B due 2021, Placed on Review for
   Downgrade, currently B1, LGD3;

  Senior Unsecured Global Notes due 2022, Placed on Review for
   Downgrade, currently Caa1, LGD5;

  Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

The review will focus on the capital structure of the new combined
company, its debt structure and where Eco Services' debt will rank
relative to any new debt added to refinance PQ's debt.  In
addition, the review will examine if there are any differences
between the guarantees provided to any new debt versus Eco
Services' guarantees at the close of the transaction or if Eco
Services will be set up as a "ring-fenced" entity independent of
PQ's debt.  However, if markets are supportive of refinancing this
debt and it is repaid, all ratings on Eco Services likely will be
withdrawn.

The principal methodology used in these ratings was Global Chemical
Industry Rating Methodology published in December 2013.

Eco Services is a sulfuric acid manufacturer.  The company is
privately-owned by private equity sponsor CCMP Capital Advisors
following the completion of a proposed carve-out transaction from
Solvay S.A in 2014.  Headquartered in Cranbury, N.J., the company
generated revenue of just under $400 million of revenue and $103
million of EBITDA (management-adjusted) for the twelve months ended
March 31, 2015.

PQ Corporation is a leading provider of inorganic specialty
chemicals, including sodium silicates, silicate derivatives,
catalysts, reflective glass spheres, and engineered glass
materials.  CCMP Capital Advisors purchased a stake in the company
in late 2014.  Affiliates of The Carlyle Group previously purchased
the company in a secondary leveraged buyout from CCMP in July 2007.
The company acquired INEOS' silica business through a leveraged
transaction in July 2008.  INEOS and members of management own the
remainder of the company.  Headquartered in Malvern, Pa., the
company generates revenues of about $1.1 billion annually.



ESTATE FINANCIAL: Has Authority to Sell Calif. Property for $2.4MM
------------------------------------------------------------------
The United States Bankruptcy Court for the Central District of
California, Northern Division, authorized Thomas P. Jeremiassen,
the duly appointed Chapter 11 trustee for Estate Financial, Inc.,
to sell the interests in the real property known as 4210 Ramada
Drive, in Templeton, California, including equitable interests of
others as to which the estate may be merely the legal holder, and
the Subject Investors, to GV4, LLC, for $2,400,000.  

The Chapter 11 Trustee is also authorized to consummate and
implement the Sale, and may execute all additional instruments and
documents that may be reasonably necessary or desirable to
implement the Sale.  Additionally, the Court approved the
employment of the Chapter 11 Trustee's brokers and the Winning
Bidder's broker.

The EFI trustee is represented by:

          Robert B. Orgel, Esq.
          Jeffrey L. Kandel, Esq.
          Cia H. Mackle, P.C., Esq.
          PACHULSKI STANG ZIEHL & JONES LLP
          10100 Santa Monica Blvd., 13th Floor
          Los Angeles, California 90067-4003
          Tel: (310) 277-6910
          Fax: (310) 201-0760
          Email: jkandel@pszjlaw.com

                       About Estate Financial

Estate Financial, Inc., was a licensed real estate brokerage firm
since the later 1980's.  EFI solicited funding for, and arranged
and made, loans secured by various real property.  EFI also was the
sole manager of Estate Financial Mortgage Fund LLC, which was
organized for the purpose of investing in and funding loans
originated by EFI which were secured by first deeds of trust
encumbering commercial and real estate located primarily in
California and has been funding such mortgage loans since 2002.

Five creditors of EFI filed an involuntary Chapter 11 petition
against the real estate broker (Bankr. C.D. Cal. Case No. 08-11457)
on June 25, 2008.  EFI consented to the bankruptcy petition on July
16, 2008.

Robert B. Orgel, Esq., at Pachulski Stang Ziehl & Jones LLP, and
William C. Beall, Esq., at Beall and Burkhardt, represented the
Debtor as counsel.  A Chapter 11 trustee, Thomas P. Jeremiassen,
was appointed by the Court on July 23, 2008.  Robyn B. Sokol,
Esq., and Steven T. Gubner, Esq., at Ezra Brutzkus & Gubner,
represent the official committee of unsecured creditors as
counsel.  In its schedules, Estate Financial disclosed total
assets of $27.4 million, and total debt of $7.32 million.


FIBERTECH NETWORKS: Moody's Withdraws B2 Rating on Acquisition
--------------------------------------------------------------
Moody's Investors Service withdrew all of Fibertech Networks, LLC's
ratings subsequent to the company's debts being discharged as a
result of its acquisition by Lightower Fiber Networks (LTS Group
Holdings LLC, B2 stable) on Aug. 13, 2015.

RATINGS RATIONALE

These summarizes Fibertech's ratings and the rating actions:

Withdrawals:

Issuer: Fibertech Holding Corp.
  Corporate Family Rating, Withdrawn , previously rated B2
   Probability of Default Rating, Withdrawn , previously rated
   B2-PD

Issuer: Fibertech Networks, LLC
  Senior Secured Bank Credit Facilities, Withdrawn, previously
   rated B2 (LGD3)

Outlook Actions:

Issuer: Fibertech Holding Corp.
  Outlook, Changed To Rating Withdrawn From Developing

Company Profile

Fibertech Networks, LLC, a Rochester, New York-headquartered
builder/operator of last mile fiber optic networks in mid-size
cities in the Eastern and Central United States, was acquired by
LTS Group Holdings LLC, a Boxborough, MA-based broadband
infrastructure provider.



FIRST NICKEL: RCF Demands Repayment of Obligations Under BIA
------------------------------------------------------------
First Nickel Inc. on Aug. 20 disclosed that the Corporation's
principal secured lender, Resource Capital Fund V L.P. ("RCF V"),
has demanded repayment of all of the obligations owing to it by the
Corporation and issued a notice of intention to enforce its
security under the Bankruptcy and Insolvency Act (Canada) (the
"BIA").  RCF V has brought an application for the appointment of
KSV Kofman Inc. as a receiver of First Nickel under the BIA and the
Courts of Justice Act (Ontario).

Following discussions between the Corporation and RCF V, the
directors of First Nickel have consented to the early enforcement
by RCF V of its security and to the appointment of a receiver over
the property of First Nickel.  The application for the appointment
of a receiver was heard on Aug. 20 in Toronto at the Ontario
Superior Court of Justice (Commercial List).  Further information
will be provided in due course.

                          About FNI

FNI is a Canadian mining and exploration company.  FNI's mission is
to be the most dynamic North American emerging base metal mining
company in which to work and invest and to be respected in the
communities in which it operates.  FNI owns and operates the
Lockerby Mine in the Sudbury Basin in northern Ontario, which
reached full production during 2013.



FORESIGHT APPLICATIONS: Suit vs. Genesee Capital Remanded
---------------------------------------------------------
Judge Robert E. Blackburn of the  United States District Court for
the District of Colorado, in an order dated Aug. 14, 2015, sent
back to the bankruptcy court the case captioned FORESIGHT
APPLICATIONS & SYSTEMS TECHNOLOGIES, LLC, Chapter 11, Plaintiff, v.
GENESEE CAPITAL CORPORATION, Defendant, CIVIL ACTION NO.
14-CV-03164-REB (D. Colo.), for consideration and resolution of all
pretrial issues, including, among others, scheduling, discovery,
non-dispositive motions, dispositive motions, and entry of a final
pretrial order.

Judge Blackburn said all parties must direct Ms. Nel Steffens on
September 4, 2015, at 9:30 a.m. (MDT), to set the matter for trial
preparation conference and jury trial; provided, that counsel for
the plaintiff/debtor will arrange, initiate, and coordinate the
conference call necessary to facilitate the telephone setting
conference.

The trial on the merits will proceed in the United States District
Court for the District of Colorado under Civil Action No.
14-cv-03164-REB, Judge Blackburn held.

The bankruptcy case is In re: FORESIGHT APPLICATIONS & SYSTEMS
TECHNOLOGIES, LLC, Debtor, BANKRUPTCY CASE NO. 13-13290-SBB (Bankr.
D. Colo.).

A full-text copy of Judge Blackburn's Decision is available at
http://is.gd/ifZAZVfrom Leagle.com.

Foresight Applications & Systems Technologies, LLC, sought
protection under Chapter 11 of the Bankruptcy Code on March 7, 2013
(Bankr. D. Colo., Case No. 13-13290).  The case is assigned to
Judge Sidney B. Brooks.  The Debtor's counsel is John C. Smiley,
Esq., at Lindquist & Vennum PLLP, in Denver, Colorado.


FREEDOM INDUSTRIES: Former Pres. Pleads Guilty to Pollution Charges
-------------------------------------------------------------------
Associated Press reported that the last of six company officials
charged in a chemical spill that contaminated drinking water for
300,000 people in West Virginia has pleaded guilty to pollution
charges.

According to the report, former Freedom Industries President Gary
Southern pleaded guilty in federal court in Charleston and could
face up to three years in prison.  Mr. Southern pleaded guilty to
three pollution charges and faces a minimum of 30 days in prison
and a maximum of three years in a plea deal, the report said.  He
also faces a fine of up to $300,000 and perhaps restitution, the
report said.

                      About Freedom Industries

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

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

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

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

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

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

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

                            *     *     *

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

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

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


GLM DFW: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------
Debtor: GLM DFW, Inc.
        17300 Preston Road, Suite 300
        Dallas, TX 75252

Case No.: 15-41480

Chapter 11 Petition Date: August 19, 2015

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

Judge: Hon. Brenda T. Rhoades

Debtor's Counsel: Davor Rukavina, Esq.
                  MUNSCH HARDT KOPF & HARR, P.C.
                  3800 Lincoln Plaza
                  500 North Akard Street
                  Dallas, TX 75201-6659
                  Tel: 214-855-7587
                  Fax: 214-978-5359
                  Email: drukavina@munsch.com

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

The petition was signed by Mary J. Galvan, president.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
ONCOR                                                 $1,508,398
1616 Woodal Rogers
Dallas, TX 75202

Capital One Bank                                        $250,844
P.O. Box 85617
Richmond, VA 23285-5617

Capital One Corporate Card                              $227,566

Chase Bank                                               $97,841

John Theil                                               $65,000

Marathon Equipment Company                               $32,000

Floyd R. Hartley, Jr.                                    $29,295

AIMCO                                                    $24,978

BlueCross BlueShield of Texas                            $21,338

G. Lee Finley                                            $20,000

Spark Business Capital One                               $16,020

Farmers Insurance                                        $14,834

Internal Revenue Service                                 $10,089

Jose Galvan                                               $6,970

Mary J. Galvan                                            $6,945

Grissom & Company                                         $6,805

American Express                                          $6,000

Western Surety Co., CNA                                   $2,500

MetLife                                                   $2,328

Memshalah Realty                                          $1,927


GUP'S HILL PLANTATION: Case Summary & 7 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Gup's Hill Plantation, LLC
           aka Edgefield Inn, LLC
           aka Rainsford Holdings, LLC
        108 1/2 Court House Square
        Edgefield, SC 29824

Case No.: 15-04386

Chapter 11 Petition Date: August 18, 2015

Court: United States Bankruptcy Court
       District of South Carolina (Spartanburg)

Judge: Hon. David R. Duncan

Debtor's Counsel: Carl F. Muller, Esq.
                  CARL F. MULLER, ATTORNEY AT LAW, P.A.
                  PO Box 1717
                  Greenville, SC 29602
                  Tel: 864-991-8904
                  Fax: 864-751-2831
                  Email: carl@carlmullerlaw.com

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

The petition was signed by Bettis C. Rainsford, sole member.

List of Debtor's seven Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
American Hotel Register Co.          Trade debt             $527

Associated Paper                     Trade Debt             $252

AT&T                                 Trade Debt             $292

Auto-Owners Insurance                Trade Debt           $1,787

Kathryn S. Rainsford              Unsecured Loan      $1,001,682
5997 Edgefield Road
Trenton, SC 29847
   
Northland Communications             Trade Debt             $884

SCE&G                                Trade Debt           $4,553


HERCULES OFFSHORE: To Be Delisted From Nasdaq Effective Aug. 24
---------------------------------------------------------------
Hercules Offshore, Inc. on August 13, 2015, received a letter from
The Nasdaq Listing Qualifications Staff stating that the Staff has
determined that the Company's securities will be delisted from The
Nasdaq Stock Market LLC.  The decision was reached by the Staff
under Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1 following
the Company's announcement that it filed the bankruptcy petitions.


On March 25, 2015, the Company received a deficiency notice from
Nasdaq stating that, based on the closing bid price of the
Company's common stock for the last 30 consecutive business days,
the Company no longer meets the minimum $1.00 per share requirement
under Nasdaq Listing Rule 5450(a)(1).

The letter further indicates that, unless the Company requests an
appeal, trading of the Company's common stock will be suspended at
the opening of business on August 24, 2015, and a Form 25-NSE will
be filed with the Securities and Exchange Commission, which would
remove the Company's securities from listing and registration on
Nasdaq.

The Company currently does not intend to appeal Nasdaq's
determination. If the Company does not appeal, the Company expects
that its securities will be eligible to be quoted on the OTC
Bulletin Board or on the OTC Markets Group Inc.'s OTC Pink.  To be
quoted on the OTCBB or the OTC Pink, a market maker must sponsor
the security and comply with SEC Rule 15c2-11 before it can
initiate a quote in a specific security. If the Company's
securities are delisted from Nasdaq, there can be no assurance that
a market maker will apply to quote the Company's common stock or
that the Company's common stock will be quoted on the OTCBB or the
OTC Pink.

Hercules Offshore and substantially all of its U.S. domestic
subsidiaries filed voluntary petitions for reorganization under
Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the
District of Delaware on Aug. 13.  The Company's Chapter 11 case is
being administered under the caption In re: Hercules Offshore, Inc.
(Case No. 15- 11685). The Debtors have filed a motion with the
Court seeking to jointly administer all of the Debtors' Chapter 11
cases under the caption In re: Hercules Offshore, Inc., et al. The
Debtors will continue to operate their businesses as
"debtors-in-possession" under the jurisdiction of the Court and in
accordance with the applicable provisions of the Bankruptcy Code
and orders of the Court.

The subsidiary Debtors in the Chapter 11 cases are Cliffs Drilling
Company; Cliffs Drilling Trinidad L.L.C.; FDT LLC; FDT Holdings
LLC; Hercules Drilling Company, LLC; Hercules Liftboat Company,
LLC; Hercules Offshore Services LLC; Hercules Offshore Liftboat
Company LLC; HERO Holdings, Inc.; SD Drilling LLC; THE Offshore
Drilling Company; THE Onshore Drilling Company; TODCO Americas
Inc.; and TODCO International Inc.

Under the Chapter 11 cases, which require Court approval, the
Company's trade creditors and vendors are expected to be paid in
full in the ordinary course of business, and all of the Company's
contracts are expected to remain in effect in accordance with their
terms preserving the rights of all parties.

The filings of the Bankruptcy Petitions constitute an event of
default with respect to the Company's 10.25% senior notes due 2019,
8.75% senior notes due 2021, 7.5% senior notes due 2021 6.75%
senior notes due 2022, 7.375% Senior Notes due 2018 and 3.375%
Convertible Senior Notes due 2038.  Pursuant to the Bankruptcy
Code, the filing of the Bankruptcy Petitions automatically stayed
most actions against the Debtors, including most actions to collect
indebtedness incurred prior to the filing of the Bankruptcy
Petitions or to exercise control over the Debtors' property.
Accordingly, although the Bankruptcy Petitions triggered defaults
under the Outstanding Notes, creditors are generally stayed from
taking action as a result of these defaults.

In connection with the filing of the Bankruptcy Petitions, the
Debtors announced the results of the previously disclosed
solicitation of votes from holders of the Outstanding Notes to
accept the joint prepackaged plan of reorganization. The final
results of the solicitation of votes show more than 250 senior
noteholders with aggregate holdings in excess of $1.1 billion of
senior notes have voted to accept the plan while only three holders
with approximately $720,000 of the senior notes voted against the
plan.  


HILLVIEW, KY: Chapter 9 Case Summary & 20 Top Unsec. Creditors
--------------------------------------------------------------
Debtor: City of Hillview, Kentucky
        Hillview City Office
        283 Crestwood Lane
        Louisville, KY 40229

Bankruptcy Case No.: 15-32679

Type of Debtor: Municipality

Chapter 9 Petition Date: August 20, 2015

Court: United States Bankruptcy Court
       Western District of Kentucky (Louisville)

Debtor's Counsel: Laura Day DelCotto, Esq.
                  DELCOTTO LAW GROUP PLLC
                  200 North Upper St.
                  Lexington, KY 40507
                  Tel: (859) 231-5800
                  Email: ldelcotto@dlgfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $50 million to $100 million

The petition was signed by Jim Eadens, mayor.

List of Debtor's 20 Largest Unsecured Creditors:

  Entity                        Nature of Claim     Claim Amount
  ------                        ---------------     ------------
Anthem Dental                     Insurance                 $600

Bluegrass Uniforms, Inc.          Trade Debt              $1,027

Brad Armstrong Land                Services             $150,000
Surveying, Inc.

Commonwealth Dodge                Trade Debt              $6,000

Ferguson Waterworks               Trade Debt              $4,911

Harned Surveying &                 Services              $15,000
Engineering

Kandi Adkinson                    Annexation            $145,000

Kentucky Bond Corporation     General Obligation      $1,785,000
380 King's Daughters Drive       Series 2010A
Frankfort, KY 40601                 Bonds

Kentucy League of Cities          Trade Debt             $10,933

Louisville Gas & Electric Co       Utility               $11,184

Lowe's Commercial Services        Trade Debt                $661

Mago Construction Company         Trade Debt            $100,000

Morton Salt, Inc.                 Trade Debt             $16,557

Park Community Federal            Credit Card             $1,635
Credit Union

Salt River Electric Company       Trade Debt              $1,368

Speedway Super America LLC        Trade Debt              $3,400

The Bank of New York           General Obligation     $1,390,000
Mellon Trust Co                 2010 Refinancing
614 West Main Street                 Bonds
Suite 2600
Louisville, KY 40202

Truck America Training, LLC         Judgment         $11,435,259
364 Ferguson Lane
Shepherdsville, KY 40165

United Healthcare                  Insurance             $10,367

Verizon Wireless                   Utilities                $630


HOLIDAY MARINAS: Owner Files for Chapter 11 Bankruptcy Protection
-----------------------------------------------------------------
Holiday Marinas, Incorporated, filed for Chapter 11 bankruptcy
protection (Bankr. N.D. Tex. Case No. 15-33301) on Aug. 11, 2015,
estimating its assets at between $1 million and $10 million and
liabilities at between $100,000 and $500,000.  The petition was
signed by Jeff Lagow, president.

Judge Stacey G. Jernigan presides over the case.

Rakhee V. Patel, Esq., at Shackelford, Melton, McKinley & Norton
LLP, serves as the Company's bankruptcy counsel.

Deborah McKeon at Temple Daily Telegram reports that Mr. Lagow, who
owns the Pier 36/Lake Belton Marina, filed for Chapter 11 so that
he could sell the assets of the marina to one of two prospective
buyers that he named.  According to court documents, Mr. Lagow
requested that H&H Marina be approved as the stalking horse bidder
with Frank Smith's Inc. listed as the backup bidder.  The court
filings say that Frank Smith and H&H Marina valued the assets at
$1.5 million, but that if the Corps of Engineers continues to
"destroy the value of the marina assets," the Debtor will receive
little to nothing in exchange for the assets.

According to Temple Daily, Mr. Patel said that a hearing is
scheduled at 9:30 a.m. on Aug. 21, 2015, to consider Mr. Lagow's
motion for court authorization to sell his assets.  

According to information found on a government website online,
Jim Hightower, the CEO of Frank Smith and the Dead Fish Grill on
Lake Belton and who is currently negotiating to buy the assets of
the Pier 36/Lake Belton, filed for Chapter 11 bankruptcy in 2012,
with Mr. Hightower's liquidated debts coming to just under
$2,343,300.  

The Company claims in court documents that the Corps devalued the
marina assets by revoking the lease "after 30 plus years of
successful operations" and by placing so many requirements on any
potential buyer.  Temple Daily relates that one of the requirements
is that all boat and barge tenants must vacate the marina by Sept.
8, 2015.  The report adds that the Corps stipulated that anyone who
buys the marina must do so without any financing from Mr. Lagow and
engage in the Corps process only.  "In other words, the Corps seeks
to control the sale process and limit the purchase price of the
marina assets for no ostensibly justifiable reason," the Company
states in the court filings.

Citing Corps spokesperson Clay Church, Temple Daily states that the
Fort Worth District office of Corps was previously notified by
Lagow of his intent to file for bankruptcy.

The report quoted Mr. Church as saying, "We're being sued also, so
anything to do with the litigation needs to be directed to the
Department of Justice.  We've been served court papers, so anything
to do with that has to be discussed with them.  We will continue to
go forward with the (leasing) process unless a court of law decides
differently or for some reason we're not able to go through with
the notice of intent.  We still encourage people to remove their
property as originally notified by Sept. 8."

The report states that Corps. plans to meet with prospective
lessees.  Officials said that all lease applications are due by
Aug. 31, 2015, and a new lessee is scheduled to be selected by
Sept. 4, 2015, the report adds.

Holiday Marinas, Incorporated, is headquartered in Dallas, Texas.


HUTCHESON MEDICAL: U.S. Trustee Wants Chapter 11 Case Dismissed
---------------------------------------------------------------
Tyler Jett at Timesfreepress.com reports that U.S. Trustee Guy
Gebhardt has asked the Bankruptcy Court to terminate Hutcheson
Medical Center, Inc.'s Chapter 11 bankruptcy case, saying that the
Hospital has ncurred another $5 million of debt since November and
has yet to file a reorganization plan.

Mr. Gebhardt said in a court filing on Monday that the Hospital's
condition in the last three months has created a "grave concern"
for the health of its patients," and that the Debtors are
administratively insolvent and in financial extremis.  "The
Debtors' current financial situation puts the Debtors' patients at
risk," Mr. Gebhart stated in the court filing.

According to Timesfreepress.com, the Hospital's leaders deny Mr.
Gebhardt's statements.  Hutcheson CEO Farrell Hayes said in a
statement, "As a community hospital, we by definition make top
priority the well-being of every community member that walks
through our doors.  We can confidently say that these recent
allegations are baseless, and we look forward to discussing our
case with the Court."

Timesfreepress.com relates that Susan Goodman, the court-appointed
ombudsman for the Hospital's bankruptcy case, told Mr. Gebhardt she
was concerned about "the increased strain" on the clinic staff.
The report states that among Ms. Goodman's concerns are: (i) the
staff is too small and the Hospital doesn't get "standard" supplies
fast enough, forcing those in the clinic to borrow items from other
buildings; (ii) the clinic has problems with its analyzer; (iii)
workers expressed "significant leadership concerns" about the
Hospital; (iv) the clinic and lab are understaffed; (v) the
Hospital has generated more debt since filing for bankruptcy in
November 2014, owing about $1.8 million in health insurance bills
as of July 31, 2015; (vi) the Hospital owes about $450,000 in
payroll taxes, about $950,000 in general accounts payable and $1.8
million in "professional fees" -- generally, money owed to
contracted doctors.

                  About Hutcheson Medical Center

Hutcheson Medical Center, Inc., operates the 179-bed hospital and
related ancillary facilities, including, without limitation, a
skilled nursing home and an ambulatory surgery center, located in
Ft. Oglethorpe, Georgia, known as Hutcheson Medical Center.  HMC
leases the land and buildings that comprise the Medical Center from
The Hospital Authority of Walker, Dade and Catoosa Counties.

HMC and Hutcheson Medical Division, Inc., sought Chapter 11
bankruptcy protection (Bankr. N.D. Ga. Case No. 14-42863 and
14-42864) in Rome, Georgia, on Nov. 20, 2014.  The cases are
jointly administered under Case No. 14-42863.

The cases have been assigned to the Honorable Paul W. Bonapfel.

The Debtors are represented by Ashley Reynolds Ray, Esq., and J.
Robert Williamson, Esq., at Scroggins and Williamson, in Atlanta,
Georgia.

The Debtors' Chapter 11 Plan and Disclosure Statement are due March
20, 2015.

HMC disclosed $32.8 million in assets and $52.9 million in
liabilities as of the Chapter 11 filing.

No request has been made for the appointment of a trustee or
examiner.


ICEGEN INC: Trustee to Sell Assets on September 3
-------------------------------------------------
KSV Kofman Inc., the appointed trustee for the bankruptcy estates
of IceGen Inc. and 1807983 Ontario Limited, will conduct a sale
process for the companies' business and assets, and the deadline
for submission of offers is Sept. 3, 2015, at 4:00 p.m. (Eastern
Daylight Time).

Icegen and 1807983 -- http://icegen.com/-- design and makes slurry
ice solutions to provide rapid cooling in a variety of industries
including citrus and food processing, transport and logistics,
thermal storage and snow making.  The companies were deemed to have
filed assignments in bankruptcy on Uuly 9, and 13, 2015,
respectively.


INTEGRATED FINANCIAL: Award of Attorney's Fees & Costs Affirmed
---------------------------------------------------------------
Judge James C. Mahan of the U.S. District Court for the District of
Nevada affirmed the bankruptcy court's award of attorney's fees to
debtor Integrated Financial Services, Inc. and the award of costs
to Insiders Stephen Kalb, Kenneth L. Templeton and TKPT, LLC.

The bankruptcy court awarded the attorney's fees and costs to the
Debtor and the Insiders, respectively, after the District Court
remanded three issues: (1) the denial of attorney's fees to the
debtor for the contract-based claims, (2) the denial of attorney's
fees to the insiders and the debtor for the chapter 645B claims,
and (3) the denial of costs to the insiders, and asked the
bankruptcy court to explain its rationale for denying the listed
fees and costs.

Appellant Mustapha Assi Revocable Living Trust Dated June 23, 2003
argued that:

     (a) the bankruptcy court went outside the scope of its mandate
in awarding previously denied fees and costs to the Debtors and
Insiders;

     (b) regardless of whether the bankruptcy court had the
authority to award previously denied attorney's fees and costs on
remand, the amount awarded was an abuse of discretion;

     (c) the record lacked sufficient evidence for the bankruptcy
court to award fees to the debtor for the contract-based claims;

     (d) the record lacked sufficient evidence for the bankruptcy
court to award $10,000 to the insiders for the chapter 645 claims.

Judge Mahan held that it was not an abuse of discretion for the
bankruptcy judge to award fees and costs on remand after a previous
denial.  With regard to the other issues, he further held that:

     (a) Appellant accurately states that many of the lines
included in debtor's request for attorney's fees were
unrecoverable, such as those relating to plan confirmation or other
proceedings. The bankruptcy court disallowed these lines. As the
bankruptcy court did not abuse its discretion or inaccurately apply
the law when awarding attorney's fees to the debtors for the
contract-based claims.

     (b) Without a reasoned explanation from the bankruptcy court
as to why $10,000 was an appropriate number, the Court cannot
review the award for abuse of discretion.  The Court vacates the
award of attorney's fees to the insiders for the chapter 645B
claims.  Further, the Court remands the issue to the bankruptcy
court so that it may issue a ruling accompanied by a statement of
reasons.

     (c) The Court has already affirmed the decision of the
bankruptcy court to reconsider its denial of attorney's fees and
costs.  Further, neither party specifically argues the merits of
the bankruptcy court's decision to award costs to the insiders in
their briefings to the Court.  Therefore, the Court affirms the
bankruptcy court's decision to award costs to the insiders.

The case is In re INTEGRATED FINANCIAL ASSOCIATES, INC., Chapter
11, Debtor. MUSTAPHA ASSI REVOCABLE LIVING TRUST DATED JUNE 23,
2003, Plaintiff(s), v. INTEGRATED FINANCIAL ASSOCIATES, INC., et
al., Defendant(s), Case Nos. BK-S-11-13537-BTB, 2:15-CV-276 JCM.

A full-text copy of Judge Mahan's Order dated Aug. 7, 2015 is
available at http://is.gd/0w4TC4from Leagle.com.

Steven Kalb, Kenneth L. Templeton and TPKT, LLC, are represented
by:

          Christopher H. Hart, Esq.
          SCHNADER HARRISON SEGAL & LEWIS LLP
          650 California Street, 19th Floor
          San Francisco, CA 94108-2736
          Telephone: (415)364-6700
          Facsimile: (415)364-6785
          E-mail: chart@schnader.com

                    About Integrated Financial

Integrated Financial Associates Inc. is a hard money lender,
meaning it is among companies that pool investors' funds and loan
the money to real estate buyers and developers, earning fees in
the process.  IFA and similar companies were hurt by the recession,
with many of their real estate borrowers defaulting on loans.  IFA
filed a Chapter 11 petition (Bankr. D. Nev. Case No. 11-13537) on
March 14, 2011.  The Debtor is represented by The Law
Offices of Alan R. Smith, Esq.  The Debtor reported assets of
$13.6 million and liabilities of $46 million.



KEY DISPOSAL: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Key Disposal, Inc.
        1141 S. Taylor Avenue
        Montebello, CA 90640

Case No.: 15-23044

Chapter 11 Petition Date: August 19, 2015

Court: United States Bankruptcy Court
       Central District of California (Los Angeles)

Debtor's Counsel: Eric S Pezold, Esq.
                  SNELL & WILMER L.L.P.
                  600 Anton Blvd Ste 1400
                  Costa Mesa, CA 92626
                  Tel: 714-427-7000
                  Fax: 714-427-7799
                  Email: epezold@swlaw.com

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

The petition was signed by John Katangian, president.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Bonami (Montebello CAT Scale)        Trade Debt        $250,000
1436 W. Washington
Montebello, CA 90640

California Air Resources Board         Fines           $250,000
9528 Telstar Ave.
El Monte, CA 91731
City of Burbank                     City Contract        $56,000

City of Long Beach-SERFF            City Contract        $72,880

City of Los Angeles                 City Contract       $456,616
Bureau of Sanitation
1149 S. Broadway, 10th Fl.
Los Angeles, CA 90015

City of Torrance                    City Contract        $80,000

City of Vernon                      City Contract        $38,000

Clear Cut Technology Solutions        Trade Debt         $10,000

Consolidated                          Trade Debt        $651,113
12949 Telegraph Road
Santa Fe Springs, CA 90670

David Gonzales                         Judgment          $75,000

Department of Motor Vehicles           DMV Fees          $15,000

Employment Development Department   EDD obligations     $260,000
P.O. Box 989061
Sacramento, CA 95798

Health Net                            Insurance          $32,882

IPFS Corporation                      Trade Debt         $75,000

IRS                                     Taxes         $1,327,525  

Ogden, UT 84201-0039

Peoples United Equipment              Trade Debt        $400,000
Finance Corp.
10200 Mallard Creek Road,
Suite 200
Charlotte, NC 28262

Southern Tire Mart                    Trade Debt         $13,943

Sprint                                Trade Debt         $13,548

Teamster Sanitation Industry Trust    Trade Debt        $112,328

WAM Software, Inc.                    Trade Debt         $14,442


KU6 MEDIA: Receives Nasdaq Listing Non-Compliance Notice
--------------------------------------------------------
Ku6 Media Co., Ltd. on Aug. 19 disclosed that on August 18, 2015,
the Company received a letter from The NASDAQ Stock Market LLC
notifying it that for the prior 30 consecutive business days, the
Company's listed securities failed to maintain a minimum bid price
of US$1 per share.  Consequently, the Company failed to comply with
the requirement for continued listing pursuant to NASDAQ Listing
Rule 5450(a)(1).

NASDAQ further stated that in accordance with NASDAQ Listing Rule
5810(c)(3)(A), the Company will be provided 180 calendar days, or
until February 16, 2016, to regain compliance with the MBP Rule.
NASDAQ will deem the Company to have regained compliance under the
MBP Rule if at any time before February 16, 2016 the closing bid
price for the Company's securities is at least US$1 for a minimum
of ten consecutive business days.

As previously disclosed by the Company, on August 13, 2015, the
Company received a letter from NASDAQ notifying it that for the
prior 30 consecutive business days, the Company's listed securities
failed to maintain a minimum market value of US$50,000,000, and the
Company's publicly held securities failed to maintain a minimum
market value of US$15,000,000, respectively.  Consequently,
deficiencies exist with regard to the requirements for continued
listing pursuant to NASDAQ Listing Rule 5450(b)(2)(A) and NASDAQ
Listing Rule 5450(b)(2)(C).

NASDAQ further stated that in accordance with NASDAQ Listing Rules
5810(c)(3)(C) and 5810(c)(3)(D), the Company will be provided 180
calendar days, or until February 9, 2016, to regain compliance with
the MVLS Rule and the MVPHS Rule.  NASDAQ will deem the Company to
have regained compliance under the MVLS Rule if at any time before
February 9, 2016 the market value of the Company's listed
securities closes at US$50,000,000 or more for a minimum of ten
consecutive business days.  NASDAQ will deem the Company to have
regained compliance under the MVPHS Rule if at any time before
February 9, 2016 the market value of the Company's publicly held
securities closes at US$15,000,000 or more for a minimum of ten
consecutive business days.

These notifications do not impact the listing and trading of the
Company's securities at this time.  However, the NASDAQ letters
also state that, if the Company does not regain compliance with the
MBP Rule by February 16, 2016 or the MVLS Rule or the MVPHS Rule by
February 9, 2016, the Company will receive written notification
from NASDAQ that the Company's securities are subject to delisting.
The Company is reviewing its options for regaining compliance with
the MBP Rule, the MVLS Rule and MVPHS Rule.  There can be no
assurance that the Company will be able to regain compliance with
the MBP Rule, the MVLS Rule, MVPHS Rule or any other Nasdaq
continued listing requirements in a timely fashion.

                    About Ku6 Media Co., Ltd.

Through its premier online brand and online video website,
www.ku6.com, Ku6 Media provides online video uploading and sharing
service, video reports, information and entertainment in China.



LEARNING CARE: Moody's Raises CFR to B2, Outlook Stable
-------------------------------------------------------
Moody's Investors Service raised Learning Care Group (US) No. 2
Inc.'s ("LCG") corporate family rating to B2 from B3, probability
of default rating to B2-PD from B3-PD, and the rating for the
company's first lien senior secured credit facilities, including a
$315 million term loan due 2021 and a $50 million revolving credit
facility due 2019 to B1 from B2.  The rating outlook is stable.
This rating action concludes the review process initiated on
June 16, 2015.

The upgrade reflects the reduction in adjusted debt due to changes
in Moody's approach for capitalizing operating leases.  The updated
approach for standard adjustments for operating leases is explained
in the cross-sector rating methodology Financial Statement
Adjustments in the Analysis of Non-Financial Corporations,
published on June 15, 2015.  As a direct result of this change,
LCG's adjusted debt to EBITDA leverage as of
March 31, 2015 has improved to around 4.5x from 5.4x under the
prior methodology.  In addition, the rating action reflects LCG's
positive operating trends, such as revenue and earnings growth and
improving credit metrics, including EBITDA less capex to interest
coverage of approximately 1.6x pro forma for the May 2015
re-pricing transaction.  Moody's expects the company to continue
demonstrating gradual credit metric improvement over the next 12 to
18 months.

These rating actions were taken:

Issuer: Learning Care Group (US) No. 2 Inc.:

  Corporate family rating, raised to B2 from B3;

  Probability of default rating, raised to B2-PD from B3-PD;

  $315 million first lien senior secured term loan due 2021,
   raised to B1 (LGD3) from B2 (LGD3);

  $50 million first lien senior secured revolver due 2019, raised
   to B1 (LGD3) from B2 (LGD3);

Outlook, stable.

RATINGS RATIONALE

The B2 corporate family rating reflects LCG's substantial, but
manageable debt balances.  The company's $315 million of funded
debt results in leverage of approximately 4.5x debt to EBITDA,
which is appropriate for the rating.  However, the ratings are
constrained by significant capital investments required for
upgrades of the existing centers, as well as for the acquisition of
new centers, which restricts the company's free cash flow
generation and limits debt repayment capacity.  The rating also
reflects the cyclical nature of the childhood education and care
industry, where demand generally varies along with changing
economic conditions and employment levels, as well as the
industry's reliance on federal and state government funding.  The
rating also considers the long term risks associated with potential
shareholder friendly actions given the private equity ownership of
the company.  The rating is supported by LCG's positive operating
trends and the resulting improvement in profitability and interest
coverage metrics.  Over the next 12 to 18 months, Moody's expects
the company to experience modest revenue and earnings growth, in
line with expectations for moderate economic improvement and
employment growth over the near term, supported by investments in
center upgrades and new locations, enhanced marketing efforts, and
ongoing cost cutting.  Over the longer term, favorable demographic
trends such as growth in the childhood population and percentage of
dual income families, and the shift towards center-based child care
should benefit the company's size and scale and operating
performance.

The B1 rating on the senior secured credit facilities reflects
their first priority lien on substantially all assets of the
company and its subsidiaries and the loss absorption provided by
significant unsecured operating lease obligations.

LCG has an adequate liquidity position, supported by $37 million of
availability under its $50 million revolving credit facility due
2019 net of letters of credit utilization, extended debt maturity
profile, and covenant-light credit agreement, which contains a
springing net leverage covenant applicable if revolver utilization
exceeds 35%.  The liquidity profile is constrained by Moody's
expectation that high capital expenditures required to upgrade
existing centers and acquire new centers as the company expands its
business will continue to consume a significant portion of its free
cash flow.

The stable rating outlook reflects Moody's expectations for same
center sales growth in the 4% to 5% range and increasing
utilization rates to drive modest increases in total revenue and
profitability.

The ratings could be pressured downward if Moody's expect same
center revenue and enrollment declines, pricing pressures or cost
increases that result in declining total revenue or EBITDA. Ratings
could also be lowered if EBITDA less capex to interest coverage is
sustained below 1.5x or if debt to EBITDA exceeds 5.0x for a
prolonged period.  Negative free cash flow generation, strained
liquidity, or shareholder friendly actions could also pressure the
ratings.

The ratings could be raised if the company demonstrates a track
record of stable revenue and EBITDA growth and improvement in
profitability, enabling EBITDA less capex to interest to approach
2.5x.  Robust positive free cash flow generation and a
strengthening in liquidity through the business cycle would also be
important for higher rating consideration.

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

Learning Care Group (US) No. 2 Inc. is a provider of childhood
education and care services for children between the ages of six
weeks and 12 years.  The company operates 916 centers across the
U.S. with about one third of centers located in Texas, California
and Florida.  LCG has five brands, including Childtime, Tutor Time,
The Children's Courtyard, La Petite Academy, and Montessori
Unlimited, and has a licensed capacity to serve approximately
138,000 children.  The company is owned by American Securities LLC.
In the last twelve months ended March 31, 2015, LCG generated
approximately $767 million in revenues.



LIBERTY INTERACTIVE: S&P Retains 'BB' Corp. Credit Rating
---------------------------------------------------------
Standard & Poor's Ratings Services revised its recovery rating on
Liberty Interactive LLC's unsecured debentures to '3' from '4'. The
'BB' issue-level rating remains unchanged.  The '3' recovery rating
indicates S&P's expectations of meaningful recovery in the event of
default at the higher end of the 50% to 70% range.  The revision
follows the improved market value for equity investment holdings,
which S&P continues to stress at 60% for its estimate on tax
liability and stock price volatility.  Liberty Interactive LLC is a
subsidiary of Liberty Interactive Corp.

The ratings on the secured debt issued by its QVC subsidiary remain
'BBB-' with a '1' recovery rating, which indicates S&P's
expectation of very high recovery (90% to 100%) in the event of a
payment default.

S&P's 'BB' corporate credit rating and stable outlook at Liberty
Interactive Corp. are unchanged following the company's
announcement that it plans to acquire online retailer zulily Inc.
in a transaction valued at $2.4 billion.  The company expects to
finance the acquisition with a combination of cash, equity, and
about $900 million revolver borrowings.  Pro forma for the
additional borrowings, S&P anticipates leverage to increase to 3x
from its 2.7x estimate at June 30, 2015.  S&P thinks the
transaction will modestly improve the company's business risk
profile by diversifying its multiplatform strategy, broadening its
customer base, and providing some opportunities for cost savings.

RATINGS LIST

Liberty Interactive Corp.
Corporate Credit Rating      BB/Stable/--

                             To                       From
Liberty Interactive LLC
Senior Unsecured
  Local Currency             BB                       BB
  Recovery Rating            3H                       4



MF GLOBAL: Judge Paves Way for Nearly Full Recoveries for Creditors
-------------------------------------------------------------------
Joseph Checkler, writing for The Wall Street Journal, reported that
Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern
District of New York paved the way for nearly 100% recoveries for
creditors of MF Global's brokerage, an outcome considered
unthinkable when the firm collapsed less than four years ago.

According to the report, Judge Glenn approved the brokerage's
request to hand pending litigation against former Chief Executive
Jon S. Corzine and other company leaders to its parent company,
setting the stage for the nearly full recoveries for creditors.
Judge Glenn said the measure marked a "significant accomplishment"
in the case.

                         About MF Global

New York-based MF Global -- http://www.mfglobal.com/-- was one of

the world's leading brokers of commodities and listed derivatives.

MF Global provides access to more than 70 exchanges around the
world.  The firm also was one of 22 primary dealers authorized to
trade U.S. government securities with the Federal Reserve Bank of
New York.  MF Global's roots go back nearly 230 years to a sugar
brokerage on the banks of the Thames River in London.

On Oct. 31, 2011, MF Global Holdings Ltd. and MF Global Finance
USA
Inc. filed voluntary Chapter 11 petitions (Bankr. S.D.N.Y. Case
Nos. 11-15059 and 11-5058), after a planned sale to Interactive
Brokers Group collapsed.  As of Sept. 30, 2011, MF Global had
$41,046,594,000 in total assets and $39,683,915,000 in total
liabilities.

On Nov. 7, 2011, the United States Trustee appointed the statutory
creditors' committee in the Debtors' cases.  At the behest of the
Statutory Creditor's Committee, the Court directed the U.S.
Trustee
to appoint a chapter 11 trustee.  On Nov. 28, 2011, the Bankruptcy
Court entered an order approving the appointment of Louis J.
Freeh,
Esq., of Freeh Group International Solutions, LLC, as Chapter 11
trustee.

On Dec. 19, 2011, MF Global Capital LLC, MF Global Market Services
LLC and MF Global FX Clear LLC filed voluntary Chapter 11
petitions
(Bankr. S.D.N.Y. Case Nos. 11-15808, 11-15809 and 11-15810).  On
Dec. 27, the Court entered an order installing Mr. Freeh as
Chapter
11 Trustee of the New Debtors.

On March 2, 2012, MF Global Holdings USA Inc. filed a voluntary
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 12-10863), and Mr.
Freeh also was installed as its Chapter 11 Trustee.

Judge Honorable Martin Glenn presides over the Chapter 11 case.
J.
Gregory Milmoe, Esq., Kenneth S. Ziman, Esq., and J. Eric Ivester,
Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, serve as
bankruptcy counsel.  The Garden City Group, Inc., serves as claims
and noticing agent.  The petition was signed by Bradley I. Abelow,
Executive Vice President and Chief Executive Officer of MF Global
Finance USA Inc.

The Chapter 11 Trustee has tapped (i) Freeh Sporkin & Sullivan
LLP,
as investigative counsel; (ii) FTI Consulting Inc., as
restructuring advisors; (iii) Morrison & Foerster LLP, as
bankruptcy counsel; and (iv) Pepper Hamilton as special counsel.
  
The Official Committee of Unsecured Creditors has retained
Capstone
Advisory Group LLC as financial advisor, while lawyers at
Proskauer
Rose LLP serve as counsel.

The Securities Investor Protection Corporation commenced
liquidation proceedings against MF Global Inc. to protect
customers.  James W. Giddens was appointed as trustee pursuant to
the Securities Investor Protection Act.  He is a partner at Hughes
Hubbard & Reed LLP in New York.

Jon Corzine, the former New Jersey governor and co-CEO of Goldman
Sachs Group Inc., stepped down as chairman and chief executive
officer of MF Global just days after the bankruptcy filing.

In April 2013, the Bankruptcy Court approved MF Global Holdings'
plan to liquidate its assets.  Bloomberg News reported that the
court-approved disclosure statement initially told creditors with
$1.134 billion in unsecured claims against the parent holding
company why they could expect a recovery of 13.4% to 39.1% from
the
plan.  As a consequence of a settlement with JPMorgan,
supplemental
materials informed unsecured creditors their recovery was reduced
to the range of 11.4% to 34.4%.  Bank lenders will have the same
recovery on their $1.174 billion claim against the holding
company.
As a consequence of the settlement, the predicted recovery became
18% to 41.5% for holders of $1.19 billion in unsecured claims
against the finance subsidiary, one of the companies under the
umbrella of the holding company trustee.  Previously, the
predicted
recovery was 14.7% to 34% on bank lenders' claims against the
finance subsidiary.


MISSISSIPPI PHOSPHATES: Gets Final Approval to Obtain $6M Loan
--------------------------------------------------------------
A federal judge approved a $6 million financing to get Mississippi
Phosphates Corp. through bankruptcy.

U.S. Bankruptcy Judge Katharine Samson last week gave final
approval to the loan that STUW LLC, administrative agent for a
consortium of lenders, committed to provide.

The bankruptcy judge also allowed Mississippi Phosphates to use the
lenders' cash collateral.

In exchange for the loan, the lenders will get "superpriority"
administrative expense claims and will be granted liens on most of
Mississippi Phosphates' assets, according to court filings.

On October 29 last year, the company received interim approval to
use up to $5 million of the loan to fund its operations and pay for
the expenses it incurred in connection with the sale of most of its
assets.

Since the approval of the $5 million loan, Mississippi Phosphates
obtained three more court orders extending the terms of the Oct. 29
order.  The last one extended the terms of the interim order to
July 31.

The company also made additional borrowings totaling $3.3 million
pursuant to the interim order, court filings show.

On July 17, Judge Samson approved Mississippi Phosphates' proposed
budget for interim financing through July 31 despite an objection
from the company's official committee of unsecured creditors.

The unsecured creditors' committee criticized the line item
proposed in the budget for payment of its fees and expenses, saying
it wasn't sufficient.  The group wanted it increased to cover its
costs through the conclusion of Mississippi Phosphates' bankruptcy
case.

The company also received an objection from the Mississippi
Department of Environmental Quality, questioning the allocation of
funds in the budget.  

The objection was resolved by stipulation prior to the approval of
the budget.  The stipulation called for a $199,999 payment to a
trust fund that was established to assure proper closure of the
east stack located at Mississippi Phosphates' facility, according
to court filings.

                    About Mississippi Phosphates

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

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

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

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

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

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



MISSISSIPPI PHOSPHATES: Pleads Guilty in Pollution Case
-------------------------------------------------------
The Associated Press reported that a Gulf Coast fertilizer
manufacturer has pleaded guilty to polluting waterways, killing
fish and destroying marshy areas around Bayou Casotte in
Pascagoula.

According to the report, citing a news release, prosecutors said
lawyers for Mississippi Phosphates entered the plead on Aug. 19
before U.S. District Judge Louis Guirola Jr. in Gulfport.
Prosecutors said a plea agreement negotiated with the Justice
Department in conjunction with the company's bankruptcy proceedings
requires Mississippi Phosphates to transfer 320 acres of property
near to its Pascagoula plant to become part of the Grand Bay
National Estuarine Research Reserve, the report related.

                    About Mississippi Phosphates

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

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

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

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

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

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


MISSISSIPPI PHOSPHATES: Settlement with Lender, EPA Approved
------------------------------------------------------------
Judge Katharine M. Samson of the United States Bankruptcy Court for
the Southern District of Mississippi, Southern Division, signed off
a settlement entered into by and between Mississippi Phosphates
Corporation, Phosphate Holdings, Inc., lender parties, and
environmental agencies.

Pursuant to the Settlement Agreement, Liquidation Trust Acquired
Assets and the Environmental Trust Assigned Assets will be
transferred to the Liquidation Trust and the Environmental Trust,
free and clear of all claims, liens and interests against the
Debtors, including, without limitations, liens for the payments of
monetary claims, such as unsecured claims for property taxes, or
other monetary claims asserted or that could have been asserted in
the Bankruptcy Cases, but, will remain subject to: (a) any existing
in rem claims that do not secure payment of monetary claims; and
(b) the Assumed Liabilities.

The Liquidation Trust will have authority to borrow funds from the
Exit Facility and lend the funds to the Environmental Trust, from
time to time, for the sole purposes of funding the Environmental
Trust administrative expenses pursuant to the Environmental Trust's
approved budget in amounts approved by the Lender Parties,
including, the Environmental Trust Initial Funding.  A certain
320-acre tract, more particularly described as "West Half of
Section 10, Township 8 South, Range 5 West, Jackson County,
Mississippi" is removed from property to be conveyed by the Debtors
under the Settlement Agreement.

The Official Committee of Unsecured Creditors objected to the
Debtors' motion to approve settlement and sought to prohibit the
Debtors from transferring, selling, or altering the D&O Policies
and from any attempt to place the D&O policies out of the reach of
the Debtors' general unsecured creditors.

The United States of America, on behalf of the United States
Environmental Protection Agency and the Mississippi Department of
Environmental Quality, responded to the objection of Chemours
Company, LLC, and held that the Brantiff is inapplicable to the
Environmental Settlement.  The settlement appropriately harmonizes
bankruptcy and environmental law, the U.S. Government asserted.

Mississippi Phosphates Corporation is represented by:

          Stephen W. Rosenblatt, Esq.
          BUTLER SNOW LLP
          1020 Highland Colony Parkway,
          Suite 1400 Ridgeland, MS 39157
          Tel: (601) 985-4504
          Email: steve.rosenblatt@hutlersnow.com

Official Committee of Unsecured Creditors is represented by:

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

United States Department of Justice, Environmental Enforcement
Section is represented by:

          Kenneth G. Long, Esq.
          Karl J. Fingcrhood, Esq.
          Senior Trial Attorney
          P.O. Box 7611 Ben Franklin Station
          Washington, D.C. 20044
          Tel: (202) 514-2840
          Fax: (202)616-6584
          Email: Kenneth.Long@usdoi.gov
                 Karl.Fingerhood@usdoi.gov

Mississippi Department of Environmental Quality is represented by:

          Roy H. Furrh, Esq.
          Theodore D. Lampton, Esq.
          P.O. Box 2261
          Jackson, MS 39225
          Tel: (601) 961-5260
          Fax: (601)961-5349
          Email: Roy Furrh@deq.state.ms.us
                 Ted Lampton@dcq.state.ms.us

                       About Mississippi Phosphates

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

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

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

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

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

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


MOSS FAMILY: Can Use Fifth Third's Cash Collateral Until Nov. 13
----------------------------------------------------------------
A federal judge extended the terms of a prior court order that
allowed Moss Family Limited Partnership and Beachwalk LP to use the
cash collateral of Fifth Third Bank.

Judge Harry Dees, Jr. of U.S. Bankruptcy Court for the Northern
District of Indiana extended the terms of the interim order to
November 13.

The terms of the interim order, issued in September 2012, expired
on August 4, court filings show.

The next hearing to consider the use of cash collateral is
scheduled for November 3, at 9:30 a.m.  

                       About Moss Family

Moss Family Limited Partnership and Beachwalk, L.P., filed Chapter
11 petitions (Bankr. N.D. Ind. Case Nos. 12-32540 and 12-32541) on
July 17, 2012.  

Judge Harry C. Dees, Jr., presides over the case.  Daniel Freeland,
Esq., at Daniel L. Freeland & Associates, P.C., represents the
Debtors.  The Debtors tapped Beachwalk Realty LLC as their broker
to sell certain property named Lot 136B located at 102 Mary Lane in
Michigan City, Indiana.

Moss Family disclosed $6,609,576 in assets and $6,299,851 in
liabilities as of the Chapter 11 filing.

The Debtors' Amended Joint Chapter 11 Plan dated Dec. 3, 2013,
provides that unsecured claims will be fully paid and satisfied by
use of the proceeds from the sale of LaPorte Judgment Lien
Property.


NATIONWIDE INSURANCE: A.M. Best Hikes FSR to 'B+(Good)'
-------------------------------------------------------
A.M. Best Co., in an Aug. 11, 2015 release, upgraded the financial
strength rating (FSR) to B+ (Good) from B (Fair) and the issuer
credit rating (ICR) to "bbb-" from "bb+" of Nationwide Insurance
Company of Florida (NICOF) (Columbus, OH).  The outlook for both
ratings has been revised to stable from positive.

The ratings and outlook for NICOF reflect its solid risk-adjusted
capitalization and improved and profitable operating performance in
recent years.  Through numerous risk management initiatives, NICOF
has significantly reduced its exposures and concentrations of risk
in Florida in recent years.  NICOF also benefits from implicit and
explicit support from its parent, Nationwide Mutual Insurance
Company (Nationwide), through platforms and processes such as
catastrophe reinsurance coverage, enterprise risk management and
common infrastructure and distribution channels.

Partially offsetting these positive rating factors is the company's
limited business profile as a single-state, single-product writer.
This leaves NICOF subject to potential adverse regulatory and
judicial decisions, as well as economic conditions.  In addition,
as a Florida writer, the company will always be at risk of
catastrophic weather events.

Regarding future rating movement, a longer term profitable trend in
underwriting performance and continued strong risk-adjusted
capitalization could lead to a further upgrade of the ratings.
Conversely, any deterioration in operating performance could result
in negative rating pressure.  Additionally, any change in the level
of support or integration with Nationwide could lead to
consideration of rating movement.


NEW YORK LIGHT: Creditors' Committee Opposes Use of Cash Collateral
-------------------------------------------------------------------
The Official Committee of Unsecured Creditors asks the United
States Bankruptcy Court for the Northern District of New York filed
a limited objection to New York Light Energy LLC's request for
final authority to use cash collateral.

The Committee seeks language in the final order clarifying that to
the extent M&T Bank is made whole in its postpetition lending
through the mechanism of receiving a Bill of Sale as contemplated
in the Fund III Master Lease Agreement, that any remaining cash
surplus will be made available to fund distributions to unsecured
creditors as may be provided for in a Plan of Confirmation or
otherwise and is not subject to the Cash Collateral Agreement or
Final Cash Order.

The Committee asserts that it needs to share in whatever carveout
is provided in the Final Cash Order so that it can adequately
report the interests of general unsecured creditors by evaluating
any reorganization proposal and/or sale by the Debtor.  The Debtor
asks for a $100,000 carveout for its professionals as well.

The Court will convene a hearing on the Cash Collateral Motion on
August 26, 2015.

The Debtor is represented  by:

          Joseph Zagraniczny, Esq.
          BOND, SCHOENECK & KING PLLC
          One Lincoln Center
          Syracuse New York 13202
          Tel: (315) 218-8000
          Email:  jagraniczny@bsk.com

The Committee is represented by:

          Richard L. Weisz, Esq.
          HODGSON RUSS LLP
          677 Broadway, Suite 301
          Albany, NY 12207
          Tel: (518) 465-2333
          Email: rwiesz@hodgsonruss.com

                  About New York Light Energy

Founded in 2009 and based in Latham, New York, New York Light
Energy, LLC, designs and installs medium-scale solar arrays in New
York State and Massachusetts.  The Company has installed solar
arrays on more than 180 industrial, commercial, municipal, and
residential sites, with a total of over 15 megawatts of capacity to
date.

NYLE and its affiliates commenced Chapter 11 bankruptcy cases
(Bankr. N.D.N.Y. Lead Case No. 15-11121) in Albany, New York, on
May 27, 2015.  

The Debtors tapped Bond, Schoeneck & King, PLLC, as counsel.  Judge
Robert E. Littlefield Jr. is assigned to the cases.


NIRVANA INC: Creditors' Panel Hires Lowenstein Sandler as Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Nirvana, Inc. and
its debtor-affiliates seek authorization from the U.S. Bankruptcy
Court for the Northern District of New York to retain Lowenstein
Sandler LLP as counsel to the Committee, effective June 29, 2015.

The Committee requires Lowenstein Sandler to:

   (a) provide legal advice as necessary with respect to the
       Committee's powers and duties as an official committee
       appointed under section 1102 of the Bankruptcy Code;

   (b) assist the Committee in investigating the acts, conduct,
       assets, liabilities, and financial condition of the    
       Debtors, the operation of the Debtors' business, potential
       claims, and any other matters relevant to the case, to the
       sale of assets or to the formulation of a chapter 11 plan;

   (c) participate in the formulation of a Plan;

   (d) provide legal advice as necessary with respect to any
       disclosure statement and Plan filed in the Chapter 11 Cases

       and with respect to the process for approving or
       disapproving disclosure statements and confirming or
       denying confirmation of a Plan;

   (e) prepare on behalf of the Committee, as necessary,
       applications, motions, complaints, answers, orders,
       agreements and other legal papers, including, without
       limitation the preparation and defense of retention and fee
       applications;

   (f) appear in Court to present necessary motions, applications,

       and pleadings, and otherwise protecting the interests of
       those represented by the Committee;

   (g) assist the Committee in requesting the appointment of a
       trustee or examiner, should such action be necessary; and

   (h) perform other legal services as may be required and that
       are in the best interests of the Committee and creditors.

Lowenstein Sandler will be paid at these hourly rates:

       Partners                      $550-$1,100
       Senior Counsel and Counsel    $390-$695
       Associates                    $285-$595
       Paralegals and Assistants     $110-$290

Lowenstein Sandler will also be reimbursed for reasonable
out-of-pocket expenses incurred.

The Committee 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.

Lowenstein Sandler can be reached at:

       LOWENSTEIN SANDLER LLP
       1251 Avenue of the Americas
       New York, NY 10020
       Tel: (212) 262-6700
       Fax: (212) 262-7402

                         About Nirvana Inc.

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

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

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

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

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

An official committee of unsecured creditors has been named in the
case.


NIRVANA INC: Withdraws Application to Hire Good News as Brokers
---------------------------------------------------------------
Nirvana, Inc. and its debtor-affiliates sought -- then withdrew --
its application seeking permission from the U.S. Bankruptcy Court
for the Northern District of New York to employ Good News, LLC dba
Insolvency Strategies, as business brokers.

Camille W. Hill, the Debtors' counsel, submitted a written request
to the Clerk of Court to withdraw the Debtors' application, stating
that on July 16, 2015, the Debtors filed an application with the
Court seeking to retain a different business broker in these
cases.

The Debtors are represented by:

       Camille W. Hill, Esq.
       BOND, SCHOENECK & KING, PLLC
       One Lincoln Center
       110 West Fayette Street
       Syracuse, NY 13202-1355
       Tel: (315) 218-8627
       Fax: (315) 218-8100
       E-mail: chill@bsk.com

                         About Nirvana Inc.

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

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

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

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

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


NORCAN FLEXIBLE: Files for Bankruptcy; Creditors Meeting Sept. 2
----------------------------------------------------------------
The bankruptcy of Norcan Flexible Packaging Inc. occurred on Aug.
7, 2015, and the first meeting of creditors will be held on Sept.
2, 2015, at 1:00 p.m. at the Ernst & Young Tower, 222 Bay Street,
30th Floor in Toronto, Ontario.

Ernst & Young Tower
Toronto-Dominion Centre
P.O. Box 251, 222 Bay Street
Toronto, Ontario M5K 1J7
Contact: Philip Kan
Tel: 416-943-2277
Fax: 416-943-3300


OPTIM ENERGY: Plan Effective Date Milestone Extended to Aug. 21
---------------------------------------------------------------
Optim Energy, LLC, and its affiliated Debtors gave notice to the
U.S. Bankruptcy Court for the District of Delaware of (a) the
amendment of Schedule 12.1 to the DIP Credit Agreement to extend to
August 21, 2015 the milestone regarding attaining the effective
date of the Plan of Reorganization or consummating the sale
contemplated by the Sale Proposal; and (b) (2) Section 12.1(q) of
the DIP Credit Agreement to delete the section in its entirety.

Affiliated debtors Optim Energy Altura Cogen, LLC and Optim Energy
Cedar Bayou 4, LLC likewise gave notice to the Court that:

     (1) They had filed the plan supplement in support of the Third
Amended Joint Plan of Reorganization Under Chapter 11 of the
Bankruptcy Code on June 10, 2015;

     (2) That they had filed the Notice of Amendment to Exit
Facility Commitment Letter that is Exhibit C to the Plan
Supplement, evidencing an agreement reached between the
Reorganizing Debtors and Cascade Investment LLC, to amend that
certain Commitment Letter dated June 10, 2015, to extend to August
21, 2015 the termination of the commitments and undertakings
therein in the event the Reorganizing Debtors have not consummated
the Transactions referred to therein on or before such date.

The Debtors are represented by:

          Robert J. Dehney, Esq.
          Eric D. Schwartz, Esq.
          Erin R. Fay, Esq.
          MORRIS, NICHOLS, ARSHT & TUNNEL LLP
          1201 North Market Street, 16th Floor
          P.O. Box 1347
          Wilmington, Delaware 19899
          Telephone: (302) 658-9200
          Facsimile: (302)658-3989
          E-mail: rdehney@mnat.com
                  eschwartz@mnat.com
                  efay@mnat.com

                - and -

          Kurt A. Mayr, Esq.
          Mark E. Dendinger, Esq.
          BRACEWELL & GIULIANI LLP
          CityPlace I, 34th Floor
          185 Asylum Street
          Hartford, Connecticut 06103
          Telephone: (860) 947-9000
          Facsimile: (860) 246-3201
          E-mail: Kurt.Mayr@bgllp.com
                  Mark.Dendinger@bgllp.com

                - and -

          Robert G. Burns, Esq.
          Jonathan Lozano, Esq.
          BRACEWELL & GIULIANI LLP
          1251 Avenue of Americas, 49th Floor
          New York, NY 10020-1104
          Telephone: (212)508-6100
          Facsimile: (800)404-3970
          E-mail: Robert.Burns@bgllp.com
                  Jonathan.Lozano@bgllp.com

                        About Optim Energy

Optim Energy, LLC, and its affiliates are power plant owners
principally engaged in the production of energy in Texas's
deregulated energy market.  Optim owns and operates three power
plants in eastern Texas: the Twin Oaks plant in Robertson County,
Texas, the Altura Cogen plant in Harris County, Texas and the
Cedar Bayou plant in Chambers County, Texas.  The Altura and Cedar
Bayou plants are fueled by natural gas, and the third is
coal-fired.

Optim Energy and its affiliates sought Chapter 11 protection from
creditors (Bankr. D. Del. Lead Case No. 14-10262) on Feb. 12,
2014.

The Debtors have tapped Bracewell & Giuliani LLP and Morris,
Nichols, Arsht & Tunnell LLP as attorneys; Protiviti Inc. as
restructuring advisors; and Prime Clerk LLC as claims agent.

Optim Energy, LLC scheduled $6.95 million in assets and $717
million in liabilities.  Optim Energy Cedar Bayou 4, LLC,
disclosed $184 million in assets and $718 million in liabilities as
of the Chapter 11 filing.  The Debtors have $713 million of
outstanding principal indebtedness.

The U.S. Trustee for Region 3 was unable to appoint an official
committee of unsecured creditors in the Debtors' cases.

Walnut Creek is represented by Michael W. Yurkewicz, Esq., at
Klehr Harrisison Harvey Branzburg LLP, in Wilmington, Delaware;
Paul M. Basta, P.C., Esq., Joshua A. Sussberg, P.C., Esq., and
Matthew Kapitanyan, Esq., at Kirkland & Ellis LLP, in New York;
and
James A. Stempel, Esq., at Kirkland & Ellis LLP, in Chicago,
Illinois.

Cascade Investment, L.L.C., and ECJV Holdings are represented by
Margaret Whiteman Greecher, Esq., Pauline K. Morgan, Esq., and
Patrick A. Jackson, Esq., at Young Conaway Stargatt & Taylor LLP,
in Wilmington, Delaware; and Lindsee P. Granfield, Esq., and Jane
VanLare, Esq., at Cleary Gottlieb Steen & Hamilton LLP, in New
York.



PACIFIC STEEL: Court OKs Wendel Rosen as Panel's Conflicts Counsel
------------------------------------------------------------------
The Official Committee of Unsecured Creditors of Pacific Steel
Casting Company and Berkeley Properties, LLC sought and obtained
permission from the Hon. Roger L. Efremsky of the U.S Bankruptcy
Court for the Northern District of California to retain Wendel
Rosen Black & Dean LLP as special conflicts counsel for the
Committee, effective June 25, 2015.

The duties to be performed by Wendel Rosen would involve reviewing
the lien documentation of Wells Fargo Bank, reporting to the
Committee on the results of the review, and representing the
Committee in any negotiations or litigation that arose out said
review.

Michael D. Cooper, Esq., will perform substantially all of the work
to be performed by Wendel Rosen.  Mr. Cooper will be paid at $575
per hour.

Wendel Rosen will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Mr. Cooper, a partner at Wendel Rosen, 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.

Wendel Rosen can be reached at:

       Michael D. Cooper, Esq.
       WENDEL, ROSEN, BLACK & DEAN LLP
       1111 Broadway, 24th Floor
       Oakland, CA 94607
       Tel: (510) 834-6600
       Fax: (510) 808-4648
       E-mail: mcooper@wendel.com

                    About Pacific Steel Casting,
                        Berkeley Properties

Pacific Steel Casting Company and Berkeley Properties, LLC,
separately filed Chapter 11 bankruptcy petitions (Bankr. N.D. Cal.
Case Nos. 14-41045 and 14-41048) on March 10, 2014.  Pacific
Steel's petition was signed by Charles H. Bridges, Jr., chief
financial officer and director.  Michael W. Malter, Esq., at Binder
& Malter, LLP serves as the Debtors' counsel.  Epiq Bankruptcy
Solutions, LLC, is the Debtors' claims, noticing and balloting
agent.  Burr Pilger Mayer, a certified public accounting firm,
serves as financial consultants.

Pacific Steel makes carbon, low-alloy and stainless steel castings
for U.S. and international customers, largely for heavy-duty trucks
and construction equipment.

Tracy Hope Davis, the United States Trustee for Region 17,
appointed seven creditors to serve on the Official Committee of
Unsecured Creditors.  The Committee is represented by Ori Katz,
Esq., and Michael M. Lauter, Esq., at Sheppard, Mullin, Richter &
Hampton LLP.

The Debtors in July 2014 won court approval to sell their
fourth-generation family-owned steel foundry for $11.3 million cash
plus assumption of specified liabilities to Speyside Fund LLC.

Bankruptcy Judge Roger L. Efremsky authorized the Debtors to revise
case caption to reflect the name change after the sale of assets.
The case caption now reflects: Second Street Properties, and
Berkeley Properties, LLC.  The Debtors stated that the assets sold
included the trade name "Pacific Steel Casting Company" and the
commonly used abbreviation and trademark "PSC".   The Debtors
agreed with the buyer that the Debtors would stop using that name
immediately after the closing.


PENN VIRGINIA: S&P Cuts Corp. Credit Rating to 'B-', Outlook Neg.
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Radnor, Pa.-based exploration and production (E&P)
company Penn Virginia Corp. to 'B-' from 'B'.  The outlook is
negative.

At the same time, S&P lowered its ratings on the company's senior
unsecured debt to 'CCC' from 'CCC+'.  The recovery rating on the
debt remains '6', which indicates S&P's expectation for negligible
(0% to 10%) recovery in the event of a default.

"The downgrade reflects the impact of lower-than-expected
production, which resulted in a deterioration of Penn Virginia's
expected financial and liquidity measures," said Standard & Poor's
credit analyst David Lagasse.

S&P assesses Penn Virginia's business risk profile as "weak,"
reflecting its participation in the cyclical and capital-intensive
E&P industry and the relatively modest size of the company's
reserves.  Based on resulting financial measures, S&P assess Penn
Virginia's financial risk profile as "highly leveraged."  S&P
considers liquidity to be "adequate."

The negative rating outlook reflects Standard & Poor's view that
liquidity and credit measures will continue to weaken with FFO to
debt dropping below 12% in 2016 and debt to EBITDA increasing above
5x in 2015 and 6x in 2016.  In addition, covenant compliance could
become tight in 2016, absent further amendments or an improvement
in commodity prices.

S&P could lower the ratings if liquidity were to fall to "less than
adequate."  This could occur if PVA's operational performance falls
short of expectations, or commodity prices remain below $45 for an
extended period.

S&P could return the rating outlook to stable if it expects the
company to sustain average FFO to debt comfortably above 12%.  Such
an event could occur if S&P expected crude oil prices to be
sustained above $60/bbl, likely in conjunction with the benefit
from continued advantaged drilling and completion costs.



POINT BLANK: Jeffrey Brooks Wants 2008 Steel Takeover Investigated
------------------------------------------------------------------
Jeffrey R. Brooks filed on Aug. 16, by and through his counsel
Christopher D. Loizides of Loizides, P.A., his Memorandum of Law in
Opposition to SS Body Armor I, Inc.'s Motion for a Preliminary
Injunction.

Following formal demand on the Debtor's Board of Directors, on
April 6, 2015, Jeffrey Brooks filed an action with the Delaware
Court of Chancery to compel the Debtor to convene an annual meeting
of shareholders.

Jeffrey Brooks commenced the Chancery Case to have an independent
board appointed to investigate and pursue causes of action against
Steel Partners II, L.P. and affiliated entities and individuals for
acts taken when Steel controlled the Debtor.  Jeffrey Brooks'
investigation has revealed that, following a failed bid by Steel to
buy the Debtors in 2007, Steel allegedly took control of the Debtor
in 2008 with the intention of driving the Debtor into bankruptcy so
that Steel could acquire the Debtor's assets at a huge discount.
In connection with that effort, Steel caused the Debtor to enter
into unfavorable transactions with Steel-owned companies, resulting
in sub-standard products at substantially higher costs to the
Debtor.  Steel also caused the Debtor to pay many millions of
dollars to Steel-affiliated professionals in connection with
Steel's efforts.  The result was the destruction of the Debtor's
business and the loss of possibly hundreds of millions of dollars
of shareholder value.

The Debtor was once the nation's leading manufacturer of
bullet-resistant vests.  As a component of the scheme by Steel,
product quality issues were allegedly caused intentionally by the
Debtor's management (as corroborated by witness statements),
setting into motion a cash and liquidity crisis and ultimately
leading to bankruptcy.

In 2011, the Debtor sold its assets to a Sun Capital affiliate for
approximately $36 million.  The reported and ongoing costs of the
bankruptcy, as caused by Steel, amount to a cost to the Debtor—a
cost to all equity holders—many millions of dollars greater than
the fire sale proceeds realized by the voluntary sale of the
Debtor's assets.  In 2014, under the management of Sun Capital,
Point Blank's revenues reached approximately $250 million, up
nearly $100 million from two years prior.

The Board is beholden to Steel because the three Board members are
Steel nominees as no shareholder meeting has been held for more
than five years—that is, since prior to bankruptcy. Their loyalty
is to Steel because they were on the Board when much of the alleged
illicit conduct took place.

At least two other investors have also requested a shareholder
meeting.  Jeffrey Brooks understands that only an independent board
will be acceptable to other shareholders.  He is requesting that a
board free from conflicts that burden the existing board be
appointed.  It will be the new and independent board that will
evaluate the claims against Steel.

On July 22, 2015, the Debtor filed its amended proposed plan of
liquidation.  The Plan contains broad Debtor and third-party
release and exculpation provisions, including of all of the members
of Debtor's management and the existing Board.  A confirmation
hearing on the Plan has been set for November 9-10, 2015.

Jeffrey Brooks expects to object to the Plan on grounds including
the Plan releases and the continuing control of the Debtor by
existing management.  The fact that Jeffrey Brooks opposes this
particular Plan -- or to be more precise -- certain provisions in
this particular Plan -- does not mean that Jeffrey Brooks is
opposed to confirmation of any plan.  Any plan of reorganization
should, at a minimum, enfranchise shareholders, place neutral
fiduciaries in charge of the Debtor, and not release estate causes
of action against current management, Steel and others.  So long as
existing management is in control of the plan process, however,
they will assure that they remain in control despite the interests
of shareholders and that they and others will benefit from the plan
release provisions to the detriment of the creditors and all equity
holders.

                        About Point Blank

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

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

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

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

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

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



PQ CORP: Moody's Affirms B3 CFR & Revises Outlook to Stable
-----------------------------------------------------------
Moody's Investors Service affirmed all ratings for PQ Corporation,
including the B3 Corporate Family Rating, and revised the rating
outlook to stable from positive following the company's
announcement of an equity-for-equity merger with Eco Services
Operations LLC.  Affiliates of the private equity firm CCMP Capital
Advisors ("CCMP") own large equity stakes in both companies and
will be the largest shareholder of the combined entity.

"The proposed merger with Eco Services, combined with ongoing
currency headwinds on PQ's existing businesses, reduce the
likelihood that PQ will generate credit metrics or enough positive
free cash flow required to consider upgrading the rating over the
next year," said Ben Nelson, Moody's Vice President and lead
analyst for PQ Corporation.

Actions:

Issuer: PQ Corporation

  Corporate Family Rating, Affirmed B3;

  Probability of Default Rating, Affirmed B3-PD;

  Senior Secured Revolving Credit Facility due 2017, Affirmed
   B2, LGD3;

  Senior Secured Term Loan due 2017, Affirmed B2, LGD3;

  Senior Secured 2nd lien notes due 2018, Affirmed Caa1, LGD4;

  Outlook, Changed To Stable From Positive.

The merger transaction is subject to regulatory approvals and is
expected to close in the fourth quarter of 2015.

RATINGS RATIONALE

Moody's believes that the transaction will strengthen PQ's business
profile by improving scale and product diversity.  Eco Services is
an independent sulfuric acid company formed through a carve-out
transaction from Solvay in late 2014.  Like PQ's legacy portfolio,
Eco Services' business profile is stable and margins are high
relative to most rated peers in the chemical industry. However, PQ
has not disclosed details on the intended capital structure for the
combined entity, which could include a combination of existing and
new debt.  Moody's expects that the transaction will trigger a
change of control provisions under PQ's existing first lien senior
secured credit facilities and second lien senior secured notes.
This clause will be triggered as CCMP's stake will increase to over
50% from less than 50% ownership of PQ today.  Other shareholders,
including INEOS Group plc (B1 stable) and members of management,
will maintain an equity position in the combined company.  In
addition, Moody's does not expect the transaction will trigger
change of control provisions under Eco Services' existing senior
secured credit facilities and senior unsecured notes.

PQ's financial performance and key credit metrics have weakened in
the first half of 2015 with adjusted leverage near 7 times
(Debt/EBITDA; excluding significant currency-related add-backs to
EBITDA), interest coverage in the mid 2 times (EBITDA/Interest),
retained cash flow near 6% of debt (RCF/Debt), and roughly
breakeven free cash flow for the twelve months ended June 30, 2015.
While price and volumes improved during the first half of the
year, foreign currency headwinds have been significant enough that
Moody's no longer expects the company to generate positive free
cash flow in 2015.  Liquidity has also tightened from a combination
of modest revolver borrowings, weakened credit metrics, and
upcoming step-downs in the company's financial maintenance
covenants.  These factors are important considerations in the
revision of the rating outlook to stable despite an anticipated
near-term improvement in the company's business profile and
longer-term improvement in expected cash flow generation.

The B3 CFR is constrained by high expected financial leverage and
modest near-term prospects for free cash flow generation.  The
combined business will have leading market positions in diverse end
markets, broad customer base with many long-term relationships,
geographic diversity, and structural advantages related to the
proximity of silicates and sulfuric acid facilities to customer
locations.  These factors enable the company to carry more leverage
than many rated peers, but, with adjusted financial leverage likely
in excess of 7 times (Debt/EBITDA) and a pending integration of Eco
Services, free cash flow is likely to be limited at least for the
next several quarters.  PQ has been investing heavily in growth
capital spending over the past few years and Eco Services announced
recently a capacity expansion at its facility in Baton Rouge, La.

The stable outlook anticipates that on a combined basis adjusted
financial leverage of the combined entity will remain below 7.5
times, effective liquidity will remain well above $200 million, and
the company will have at least line of sight towards positive free
cash flow generation within 12-18 months.  Moody's could upgrade
the rating with expectations for adjusted financial leverage
sustained below 6.5 times (Debt/EBITDA), retained cash flow
sustained above 8% of debt (RCF/Debt), free cash flow sustained
above 3% of debt (FCF/Debt), and effective liquidity sustained
above $250 million.  Moody's could downgrade the rating with
expectations for sustained negative free cash flow or substantive
deterioration in liquidity.

The principal methodology used in these ratings was Global Chemical
Industry Rating Methodology published in December 2013.

PQ Corporation is a leading provider of inorganic specialty
chemicals, including sodium silicates, silicate derivatives,
catalysts, reflective glass spheres, and engineered glass
materials.  CCMP Capital Advisors purchased a stake in the company
in late 2014.  Affiliates of The Carlyle Group previously purchased
the company in a secondary leveraged buyout from CCMP in July 2007.
The company acquired INEOS' silica business through a leveraged
transaction in July 2008.  INEOS and members of management own the
remainder of the company.  Headquartered in Malvern, Pa., the
company generates revenues of about $1.1 billion.



PUBLIC SERVICE: A.M. Best Lowers Fin. Strength Rating to 'B(fair)'
------------------------------------------------------------------
A.M. Best Co. has downgraded the financial strength rating (FSR) to
B (Fair) from B+ (Good) and the issuer credit rating (ICR) to "bb+"
from "bbb-" of Public Service Insurance Company (Chicago, IL) and
its affiliates, Paramount Insurance Company (New York, NY) and
Western Select Insurance Company (Los Angeles, CA) (collectively
referred to as Magna Carta Companies), which operate through an
intercompany pooling reinsurance agreement.  The outlook for the
FSR has been revised to stable from negative, while the outlook for
the ICR remains negative.

The rating actions reflect the poor operating performance
throughout the recent five-year period as evidenced by pre-tax
operating losses during the 2010-2014 period driven by significant
levels of adverse loss reserve development on prior accident years,
the impact of weather-related losses and the need for improved risk
controls.  Operating performance was negatively impacted during the
fourth quarter in 2014 by $27.0 million in reserve strengthening
actions that occurred primarily on the workers' compensation and
commercial multi-peril lines of business to more accurately
establish ultimate claim liabilities.  These actions were in
addition to the fourth quarter 2013 actions resulting from a $48.8
million charge to strengthen reserves, the majority of which
related to the workers' compensation line.

Partially offsetting these negative factors are Magna Carta's
adequate but declining risk-adjusted capitalization, strong
commercial market knowledge and management's plan to non-renew
higher loss ratio business while focusing on low hazard business.
The group's reduced risk-adjusted capitalization reflects its
declining surplus and increased loss reserves and underwriting
leverage, partially offset by the effects of an adverse development
cover implemented during 2014.  While risk-adjusted capitalization
was supportive of the group's liabilities at year-end 2014 and is
expected to remain so over the near-term, continuing operating
losses may drive further deterioration in this metric.

The outlooks reflect A.M. Best's concerns with the sustained
underwriting losses reported throughout the five-year period and
the magnitude of actions required in recent years to strengthen
loss reserves, as well as the lack of clarity regarding the Magna
Carta Companies' risk appetite and business strategy, which has
contributed to the poor underwriting and operating results.  It is
expected that management will focus on these critical issues in an
effort to improve operating performance over the near term.

Negative rating actions could occur if the group's underwriting and
operating performance are not in line with A.M. Best's expectations
or if there is further significant deterioration in the group's
risk-adjusted capital position.  Positive rating actions are not
expected in the near term.


RELATIVITY FASHION: Meeting of Creditors Slated for September 19
----------------------------------------------------------------
A meeting of creditors for Relativity Fashion LLC and its
debtor-affiliates will take place on Sept. 19, 2015, at 2:30 p.m.,
at the office of the United States Trustee, 80 Broad Street, 4th
Floor in New York, New York.

Based in New York, Relativity Fashion LLC dba M3 Relativity --
http://relativitymedia.com/-- is a privately-held entertainment
company with an integrated and diversified global media platform
that provides, among other things, film and television financing,
production and distribution. Relativity was founded in 2004 by Ryan
Kavanaugh as a films late cofinancier partnering with major studios
such as Sony and Universal.  In addition, the Company engages in
content production and distribution, including movies, television,
fashion, sports, digital and music.  

The Company and its affiliates filed for Chapter 11 protection on
July 30, 2015 (Bankr. S.D. N.Y. Lead case No. 15-11989).  Judge
Michael E. Wiles presides over the Debtors' Chapter 11 cases.

Craig A. Wolfe, Esq., Malani J. Cademartori, Esq., and Blanka K.
Wolfe, Esq., at SHEPPARD MULLIN RICHTER & HAMPTON LLP, and Richard
L. Wynne, Esq., Bennett L. Spiegel, Esq., and Lori Sinanyan, Esq.,
at JONES DAY, represent the Debtors in the bankruptcy cases.

The Debtors reported total assets of $559.9 million, and total
debts: $1.1 billion as of Dec. 31, 2014.


RELATIVITY MEDIA: Manchester Securities Wants Cap on Payments
-------------------------------------------------------------
Financial firm Manchester Securities wants to impose a specific
dollar cap on payments and limit payments from being made after
Oct. 31, 2015, or the sale of Relativity Media's assets, and
reasonable advance notice before specific payments are made, Eriq
Gardner at The Hollywood Reporter writes.

The Hollywood Reporter states that Manchester Securities is a
subsidiary of hedgefund powerhouse Elliot Management, which was one
of the Company's earliest financial backers and is still owed $131
million from the bankrupt studio.

Citing Manchester Securities, The Hollywood Reporter relates that
payment of residuals and profit participation from the bankrupt
Company's films and television shows "might improperly elevate one
group of prepetition creditors above other similarly situated
prepetition creditors" and that the Company's attorneys "have not
sufficiently demonstrated that the proposed payees qualify under
the critical vendor or doctrine of necessity exceptions to the
general rule that prepetition creditors are not paid before
confirmation."

Manchester Securities, The Hollywood Reporter notes, claims that
the Company has failed to offer proof that talent would stop
working with the studio "if unpaid altogether," failed to
investigate the secured status of residual and participation
obligations, and that the Company is under obligation in bankruptcy
to "negotiate favorable terms with payment recipients."

The Company said in court documents filed in July that $28 million
worth of profit participations and residuals were due at the time
of the Chapter 11 filing and $8.245 million more was expected to
come due through September.  The Company, The Hollywood Reporter
recalls, insisted that it was important to pay these obligations so
as to preserve the ability to maintain new production and not
"negatively impact" relationships with talent and other
stakeholders like unions.

                      About Relativity

Relativity -- http://relativitymedia.com/-- is a next-generation
global media company engaged in multiple aspects of content
production and distribution, including movies, television, sports,
digital and music.  More than just a collection of
entertainment-related businesses, Relativity is a content engine
with the ability to leverage each of these business units,
independently and together, to create content across all mediums,
giving consumers what they want, when they want it.

Relativity Studios, the Company's largest division, has produced,
distributed or structured financing for more than 200 motion
pictures, generating more than $17 billion in worldwide box-office
revenue and earning 60 Oscar nominations.  Relativity's films
include Oculus, Safe Haven, Act of Valor, Immortals, Limitless,
and The Fighter.

Relativity Media LLC and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code on July 30, 2015 (Bankr.
S.D.N.Y., Case No. 15-11989).  The case is assigned to Judge
Michael E. Wiles.

The Debtors are represented by Craig A. Wolfe, Esq., Malani J.
Cademartori, Esq., and Blanka K. Wolfe, Esq., at Sheppard Mullin
Richter & Hampton LLP, in New York; and Richard L. Wynne, Esq.,
Bennett L. Spiegel, Esq., and Lori Sinanyan, Esq., at Jones Day,
in New York.

Brian Kushner of FTI Consulting, Inc., serves as chief
restructuring officer and crisis and turnaround manager.  Luke
Schaeffer of FTI Consulting, Inc., serves as deputy CRO.

Blackstone Advisory Partners L.P. serves as the Debtors'
investment banker.  The team is led by Timothy Coleman, Senior
Managing Director, CJ Brown, Senior Managing Director, Paul
Sheaffer, Vice President, and Joseph Goldschmid, Associate.

The Debtors' noticing and claims agent is Donlin, Recano &
Company, Inc.


RHINO EXCAVATING: Case Summary & 8 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Rhino Excavating, LLC
        PO Box 584
        Fort Gay, WV 25514

Case No.: 15-30351

Type of Business: Mining, Quarrying, Oil & Gas Extraction

Chapter 11 Petition Date: August 18, 2015

Court: United States Bankruptcy Court
       Southern District of West Virginia (Huntington)

Judge: Hon. Ronald G. Pearson

Debtor's Counsel: Joe M. Supple, Esq.
                  SUPPLE LAW OFFICE, PLLC
                  801 Viand Street
                  Point Pleasant, WV 25550
                  Tel: (304) 675-6249
                  Fax: (304) 675-4372
                  Email: info@supplelaw.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Crissa Raines, member.

List of Debtor's eight Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Walker Rental                                            $250,000
837 Adams Avenue
Huntington, WV 25704

Cadle Co.                                                $330,000
D.A.N. Joint Venture
III, L.P.
100 North Center Street
Newton Falls, OH  44444

John Deere Financial                                     $460,000
6400 NW 86th Street
Johnston, IA 50131-6600

Caterpillar Financial                                    $766,000
PO Box 340001
Nashville, TN 37203-0001

Internal Revenue Service                Taxes             $66,000

Whayne Catepillar Supply                                  $40,000

Southeastern Equipment Co. Inc.                           $30,000

Rish Equipment Co.                                        $12,000


SANDRIDGE ENERGY: Moody's Lowers CFR to 'Caa2', Outlook Stable
--------------------------------------------------------------
Moody's Investors Service downgraded SandRidge Energy, Inc.'s
Corporate Family Rating (CFR) to Caa2 from Caa1, its Probability of
Default Rating to Caa2-PD/LD from Caa1-PD, its second lien secured
notes rating to B2 from B1, and its senior unsecured rating to Caa3
from Caa2.  Moody's also affirmed the company's SGL-2 Speculative
Grade Liquidity rating.  The ratings outlook is stable.

These actions are in response to SandRidge's privately negotiated
transaction to repurchase $250 million of existing senior unsecured
notes for $94.5 million in cash at an average price of 38% of par.
In addition, the company announced that it will exchange an
additional $275mm of senior unsecured notes into new convertible
notes.

Moody's considers SandRidge's repurchase of unsecured debt at a
discount to par and its exchange of unsecured debt for new
convertible notes as a distressed exchange for its senior unsecured
debt, which Moody's views as a default.  As noted above, Moody's
appended the Caa2-PD PDR with an "/LD" designation indicating
limited default, which will be removed three business days
thereafter.

"The downgrade of SandRidge's ratings reflects the company's weak
cash flow metrics and potentially unsustainable capital structure,"
commented Amol Joshi, Moody's Vice President.  "With weak commodity
prices exacerbating the impact of its relatively high interest
expense and operating cost structure on cash flow, the risk of
further debt restructuring has increased."

Rating Actions:

Issuer: SandRidge Energy, Inc.

  Corporate Family Rating, Downgraded to Caa2 from Caa1

  Probability of Default Rating, Downgraded to Caa2-PD/LD from
   Caa1-PD

  Speculative Grade Liquidity Rating, Affirmed SGL-2

  Senior Secured Second Lien Notes, Downgraded to B2 (LGD2) from
   B1 (LGD2)

  Senior Unsecured Notes, Downgraded to Caa3 (LGD5) from
   Caa2 (LGD5)

Outlook Actions:

  Outlook: Stable

RATINGS RATIONALE

The Caa2 CFR reflects high financial leverage and worsening credit
metrics as its existing hedges roll off and the company remains
significantly less hedged for 2016, leading to a potentially
unsustainable capital structure with continued weak commodity
prices.  Moody's expects debt to average daily production to exceed
$50,000 per barrel of oil equivalent (boe), and retained cash flow
(RCF) to debt to fall toward 5% in 2016.  The CFR also considers
the risk that SandRidge will not have the ability to grow out of
its weak leverage metrics, and as its retained cash flow remains
weak due to low netback per boe and high interest expense burden,
despite the discounted notes repurchase somewhat reducing annual
interest expense.

SandRidge's SGL-2 Speculative Grade Liquidity Rating reflects good
liquidity over the next 12 months.  SandRidge's credit facility has
a borrowing base of $500 million.  As of June 30, 2015, and pro
forma for the repurchase and exchange, its credit facility is
undrawn and the company has almost $900 million in cash on its
balance sheet.  Financial covenants in the facility include a
maximum senior secured first lien debt to EBITDA ratio of 2.0x and
a minimum current ratio of 1.0x.  Moody's expects SandRidge to
remain in compliance with these covenants through mid-2016.
SandRidge has a sizeable cash cushion as it continues to outspend
cash flow.

SandRidge's unsecured notes are rated Caa3, which is one notch
below the Caa2 CFR.  This notching reflects the priority claim
given to the senior secured credit facility and the second lien
notes under Moody's Loss Given Default Methodology.

The stable rating outlook reflects the company's good liquidity and
ability to maintain production levels over the next 12 months. A
downgrade is possible if liquidity deteriorates significantly, or
if SandRidge's production volumes were to decline more than
anticipated.  EBITDA to interest expense of at least 2.0x combined
with adequate liquidity could result in a ratings upgrade.

The principal methodology used in these ratings was Global
Independent Exploration and Production Industry published in
December 2011.

SandRidge Energy, Inc. is an independent exploration and production
(E&P) company principally focused in the Mississippian Lime play in
Oklahoma and Kansas.  The company is headquartered in Tulsa,
Oklahoma.



SHAWNEE AVE: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Shawnee Ave LLC
        616 Fern street
        West Palm Beach, FL 33401

Case No.: 15-24958

Type of Business: Real Estate Holder

Chapter 11 Petition Date: August 18, 2015

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Hon. Erik P. Kimball

Debtor's Counsel: Richard Siegmeister, Esq.
                  RICHARD SIEGMEISTER P.A.
                  1800 SW 1 Ave #304
                  Miami, FL 33129
                  Tel: 305-859.7376
                  Email: rspa111@att.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Carlos Alvarez, authorized
representative - member.

List of Debtor's three Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
U.S. Samill Business               Taxes and other        $0
Administration                         debts

Palm Beach County                  Taxes and other        $0
                                       debts

State of Florida                   Taxes and Other       $0
Department of Revenue                  Debts


SINGH AUTO WOLD: Case Summary & 21 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Singh Auto Wold LLC
        154 Nazareth Pike
        Bethlehem, PA 18020

Case No.: 15-15954

Chapter 11 Petition Date: August 19, 2015

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania (Reading)

Judge: Hon. Richard E. Fehling

Debtor's Counsel: Michael J. McCrystal, Esq.
                  MCCRYSTAL LAW OFFICES
                  2355 Old Post Road, Ste 4
                  Coplay, PA 18037
                  Tel: (610) 262-7873
                  Email: mccrystallaw@gmail.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Varinder Jeet Singh, managing member.

List of Debtor's 21 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
NextGear Capital Inc,                 Trade Debt        $750,000
Remarketing Dept
1320 City Center Drive, STE 100
Carmel, IN 46032-3816

A&S Associates                                           $400,000

David Hottenstein                                        $300,000

Alpha Air LLC                         Trade Debt         $250,000
1456 Ferry Road, STE 603
Doylestown, PA 18901

Baljit Singh                                             $100,000

Sheik Amhed                                              $100,000

Dwane Mitto                                              $100,000

Chase Ink                                                 $25,000

AutoZone                             Trade Debt           $11,800

Jack Williams                                             $11,500

Kost Tires                                                 $9,600

Advance Auto Parts                                         $8,400

Auto Parts Warehouse                                       $6,000

Lentini Auto Salvage                                      $5,400

Warrany Solutions                                         $5,000

Knopf Automotive                                          $2,000

Autoparts International                                   $1,800

Thompson Wholesale                                        $1,700

Verizon Wireless                                          $1,400

Core Logic Credco LLC                  Trade Debt         $1,100

PPL Electric Utilities                                    $1,100


SMITH & MORRIS: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Smith & Morris Holdings LLC
        22 Village Road
        Beach Lake, PA 18405

Case No.: 15-03520

Type of Business: Single Asset Real Estate

Chapter 11 Petition Date: August 18, 2015

Court: United States Bankruptcy Court
       Middle District of Pennsylvania (Wilkes-Barre)

Judge: Hon. John J Thomas

Debtor's Counsel: Roger Mattes, Jr., Esq.
                  MATTES AND MATTES, P.C.
                  324 North Washington Avenue
                  Scranton, PA 18503
                  Tel: 570 969-2222
                  Fax: 570 343-3111
                  Email: matteslaw@epix.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Stephen G. Smith, managing partner.

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


SPECTRUM ANALYTICAL: Asset Sale Hearing on Aug. 25
--------------------------------------------------
Steven Weiss, the Chapter 11 Trustee of Spectrum Analytical Inc.,
intends to sell certain assets of Spectrum Analytical Inc. and
Hanibal Technology LLC free and clear of all liens, claims,
interests and encumbrances, on an "as is, where is" basis,
according to the terms set forth in an asset purchase agreement
dated July 22, 2015.

A hearing on the proposed asset sale is set for Aug. 25, according
to the Troubled Company Reporter's prior report.  According to a
notice, the Trustee will conduct the auction during the sale
hearing.

Any objections to the sale, and any offers for the assets were due
Aug. 20.

                    About Spectrum Analytical

Spectrum Analytical Inc. provides testing and analytical data for
environmental interests.  Hanibal Technology LLC serves as
Spectrum's exclusive international marketing and sales agent, and
focuses on education, research, and development in environmental
technology.  Spectrum maintains offices in Agawam, Massachusetts,
Tampa, Florida, North Kingstown, Rhode Island, and Syracuse, New
York.

Spectrum Analytical and Hanibal Technology commenced Chapter 11
bankruptcy cases (Bankr. D. Mass. Case Nos. 15-30404 and 15-30405)
on April 30, 2015, to retake management of their business and
assets from the receiver installed by their lender.  Hanibal Tayeh,
the sole member, signed the bankruptcy petitions.

Spectrum disclosed $8,658,751 in assets and $1,987,714 in
liabilities as of the Chapter 11 filing.  Hanibal estimated less
than $10 million in assets and debt.

Bacon Wilson, P.C., serves as the Debtors' counsel.

Steven Weiss, the Chapter 11 trustee tapped Seth Schalow as
restructuring consultant for the estate.  TechKnowledgey Strategic
Group, serves as his business broker, and Shatz Schwartz and
Fentin. P.C., as his counsel.


TIERRA DEL REY: Hires Curry Advisors as General Bankruptcy Counsel
------------------------------------------------------------------
Tierra Del Rey, LLC, seeks authorization from the U.S. Bankruptcy
Court for the Southern District of California to employ Curry
Advisors as its general bankruptcy counsel, effective July 2,
2015.

The Debtor requires Curry Advisors to:

   (a) advise, consult with, and assist the Debtor with regard to
       evaluating prospects for reorganization through  
       rehabilitation and orderly liquidation;

   (b) advise, consult with, and otherwise represent the Debtor
       concerning the status of the case and any amendments to the

       Schedules and Statement of Financial Affairs, including
       advising the Debtor in connection with compliance with   
       U.S. Trustee operating and reporting requirements, and
       representation of the Debtor in connection with the initial

       debtor conference and meeting of creditors;

   (c) investigate and advise the Debtor regarding possible
       preferential, fraudulent, or unauthorized transfers of the
       Debtor's property or interests therein;

   (d) advise and consult with the Debtor concerning various legal

       matters that may arise during the course of these
       proceedings, including the rights and remedies of the
       Debtor with respect to the assets of the estate;

   (e) advise, consult with, and represent the Debtor regarding
       possible suits and proceedings arising out of or relating
       to this case and relating to assets of the estate,
       including proceedings for relief from the automatic stay
       and proceedings to sell the Debtor's real property;

   (f) represent the Debtor in hearings before this Court and to
       prepare appropriate applications and orders;

   (g) advise and consult with the Debtor concerning the
       powers, duties, rights, and obligations of a debtor-in-
       possession, to assist in the protection of the assets of
       the estate, and to prepare the necessary pleadings,
       applications, complaints, answers, orders, reports,
       disclosure statement, plan of reorganization, and all other

       legal documentation and services generally required; and

   (h) advise, consult with, and represent the Debtor in
       connection with such other general, real estate, contract,
       business, or litigation matters as may be necessary for the

       duration of this bankruptcy case.

Curry Advisors will render services to the Debtor at an initial
hourly rate of $425, which is its normal hourly rate for bankruptcy
and non-bankruptcy matters, and which is subject to adjustment in
the future.

Curry Advisors will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Curry Advisors received a post-petition retainer in the amount of
$15,000 from the Debtor's parent entity, Bay View Methodist
Heights, Inc.

The entirety of the $15,000 presently is held in the Curry Advisors
client trust account.

K. Todd Curry, principal of Curry Advisors, 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.

Curry Advisors can be reached at:

       K. Todd Curry, Esq.
       CURRY ADVISORS
       525 B Street, Suite 1500
       San Diego, CA 92101-4417    
       Tel: (619) 238-0004
       Fax: (619) 238-0006

                       About Tierra Del Rey

Tierra Del Rey, LLC, filed a Chapter 11 bankruptcy petition (Bankr.
S.D. Cal. Case No. 15-04253) on June 29, 2015, disclosing assets of
$10.8 million against $5.54 million in debt.

The Debtor owns the Tierra Del Rey Apartments, an 80-unit
multi-family apartment complex at 3675 King Street and 6975 Waite
Street in La Mesa, California.  The property is valued at $10.6
million and secures a debt of $4.21 million debt to Fannie Mae (1st
trust deed) and a $1.27 million debt to AP Mortgage Company, Inc.
(2nd trust deed).

A receiver seized control of the apartment complex on June 19,
2015.  The receiver, Trigild Inc., was appointed at the behest of
AP Mortgage, which commenced the suit styled, AP Mortgage Company,
Inc. vs. Bay Vista Methodist Heights et al.
37-2015-00012044-CU-OR-CTL, SDSC Central Division.

The Debtor tapped Craig E. Dwyer, Esq., in San Diego, California,
as counsel.


TRIBUNE CO: Aurelius Capital's Plea to Undo Plan Component Denied
-----------------------------------------------------------------
Jonathan Stempel at Reuters reports that Judge Thomas Ambro of the
3rd U.S. Circuit Court of Appeals in Philadelphia denied on Aug.
19, 2015, hedge fund Aurelius Capital Management LP's request to
undo a central component of Tribune Co's bankruptcy plan.

According to Reuters, the Court said that letting Aurelius Capital
pursue an appeal related to more than $2.2 billion of bankruptcy
claims would be unfair to the Company and to creditors who
overwhelmingly approved the Chapter 11 plan.  Those parties deserve
"finality" after the Company's emergence from bankruptcy in
December 2012, while Aurelius Capital did not deserve "by judicial
fiat what it could not achieve by consensus within Chapter 11," the
report states, citing Judge Ambro.

Reuters relates that Aurelius Capital and some other creditors
split only $369 million on their $2.24 billion of claims under the
reorganization, and despite the hedge fund thinking that the payout
was too low, a federal bankruptcy judge in July 2012 confirmed that
plan.

Reuters recalls that the judge put his confirmation order on hold
so Aurelius Capital could appeal, provided that it post a $1.5
billion bond, a condition the hedge fund resisted.

Citing the appeals court, Reuters says that Aurelius Capital owned
$2 billion of pre-LBO debt, and it is unclear what the hedge fund
paid for it.

Reuters reports that the 3rd Circuit separately revived claims by
two bond trustees seeking to recoup $30 million from various
Tribune creditors, saying that request would not jeopardize the
reorganization plan.

                         About Tribune Co.

Chicago, Illinois-based Tribune Co. -- http://www.tribune.com/--  

and 110 of its affiliates filed for Chapter 11 protection (Bankr.
D. Del. Lead Case No. 08-13141) on Dec. 8, 2008.  The Debtors
proposed Sidley Austin LLP as their counsel; Cole, Schotz, Meisel,
Forman & Leonard, PA, as Delaware counsel; Lazard Ltd. and Alvarez
& Marsal North America LLC as financial advisors; and Epiq
Bankruptcy Solutions LLC as claims agent.  As of Dec. 8, 2008, the
Debtors listed $7,604,195,000 in total assets and $12,972,541,148
in total debts.  Chadbourne & Parke LLP and Landis Rath LLP served
as co-counsel to the Official Committee of Unsecured Creditors.
AlixPartners LLP served as the Committee's financial advisor.
Landis Rath Moelis & Company served as the Committee's investment
banker.  Thomas G. Macauley, Esq., at Zuckerman Spaeder LLP, in
Wilmington, Delaware, represented the Committee in connection with
the lawsuit filed against former officers and shareholders for the
2007 LBO of Tribune.

Protracted negotiations and mediation efforts and numerous
proposed plans of reorganization filed by Tribune Co. and
competing creditor groups delayed Tribune's emergence from
bankruptcy.  Many of the disputes among creditors center on the
2007 leveraged buyout fraudulence conveyance claims, the
resolution of which is a key issue in the bankruptcy case.

Judge Kevin J. Carey issued an order dated July 13, 2012,
overruling objections to the confirmation of Tribune Co. and its
debtor affiliates' Plan of Reorganization.  In November 2012,
Tribune received approval from the Federal Communications
Commission to transfer media licenses, one of the hurdles to
implementing the reorganization plan.  Aurelius Capital Management
LP failed in halting implementation of the plan pending appeal.

Tribune Co. exited Chapter 11 protection Dec. 31, 2012, ending
four years of reorganization.  The reorganization allowed a group
of banks and hedge funds, including Oaktree Capital Management and
JPMorgan Chase & Co., to take over the media company.


VISION VENTURES: Providence Bank Acquires Chesterfield Property
---------------------------------------------------------------
Corey Noles at St. Louis Business Journal reports that Providence
Bank won the auction of Vision Ventures LLC's 8-acre Chesterfield
property at an auction with a $1.1 million bid.

According to Business Journal, the property located at 17655-17659
Wild Horse Creek Road in Chesterfield Valley was intended to be the
home of a $16 million new senior living facility, to be called the
Chesterfield Senior Living Care.  Providence Bank was the holder of
the original lien, the report states.

St. Louis County property records show that the property was
appraised at $136,800 in 2015.

Headquartered O Fallon, Missouri, Vision Ventures LLC, whose
principal is Rodney Henry, is a corporation that has been looking
to develop an assisted- and independent-living facility in
Chesterfield, Missouri.

The Company filed for Chapter 11 bankruptcy protection (Bankr. E.D.
Mo. Case No. 15-41629) on March 11, 2015, estimating its assets and
liabilities at between $1 million and $10 million.  The petition
was signed by Rodney Henry, manager.

Judge Charles E. Rendlen III presides over the case.

Bryan C. Bacon, Esq., at Evans & Dixon, LLC, serves as the
Company's bankruptcy counsel.


WALTER ENERGY: Sept. 2 Hearing Set for Cash Collateral Motion
-------------------------------------------------------------
As previously announced, Southwest Bank, the trustee of the
Dominion Resources Black Warrior Trust (the "Trust") was informed
by Walter Energy, Inc., the parent of Walter Black Warrior Basin
LLC (the "Company"), stating that it, together with certain of its
subsidiaries and affiliates, including the Company ("Debtors")
filed a petition for relief under Chapter 11 of the U.S. Bankruptcy
Code with the United States District Court for the Northern
District of Alabama Southern Division on July 15, 2015 and that it
has an agreement with lenders regarding a pre-negotiated
restructuring plan.  In the letter, Walter Energy, Inc. advised the
Trust that it is not permitted to pay obligations that arose prior
to July 15, 2015, including royalty payments. Specifically, the
Trustee was informed by Walter Energy, Inc. that it will not be
paying the distribution to the Trust, which would normally be paid
by August 14, and normally would include royalty payments for the
production months of April, May and June 2015, as well as the
portion of any future quarterly distributions relating to
production attributable to periods prior to July 15, 2015.  The
Trustee has received no assurances regarding the status of
distributions relating to production for periods after July 15,
2015.  On the date the bankruptcy hearing was filed -- in a series
of "first day motions" -- the Debtors filed motions relating to use
of their cash collateral and cash management, which provide that
Debtors' cash and certain other property constitute collateral of
the Debtors' lenders subject to protective liens and permit use of
a "zero balance" cash management system where receipts from
operations including Debtors' gas operations could be swept into
certain concentration or disbursement accounts.  The motions do not
separately segregate or provide separate treatment for production
proceeds relating to the Trust's overriding royalty interests.  The
Trustee filed motions asking the court to reconsider and amend the
Debtors' cash management order and has objected to the cash
collateral motion seeking segregation of production proceeds
relating to the Trust's overriding royalty interests and judicial
confirmation that such proceeds are not property of the Debtor's
bankruptcy estate.

A hearing was held August 18, 2015 where the court denied the
Trust's motion to reconsider the Debtors' cash management order and
denied the Trust's request for a temporary restraining order.  A
hearing on the Trust's motion regarding the Debtors' cash
collateral motion is scheduled for September 2, 2015.  The Trustee
has additionally filed a separate action seeking declaratory
judgment that the Trust's overriding royalty interests and related
production proceeds are not property of the debtors' bankruptcy
estate and seeking a preliminary injunction against the debtor to
prevent it from (1) co-mingling the production proceeds with other
funds of the debtor; (2) placing any lien or encumbrance on the
production proceeds and (3) refusing to make distributions in
accordance with the Conveyance governing the overriding royalty
interests and Alabama law.  The Trustee continues to evaluate legal
options with respect to the Trust.

                      About Walter Energy

Walter Energy -- http://www.walterenergy.com/-- is a publicly
traded "pure-play" metallurgical coal producer for the global steel
industry with strategic access to steel producers in Europe, Asia
and South America.  The Company also produces thermal coal,
anthracite, metallurgical coke and coal bed methane gas.  Walter
Energy employs approximately 2,700 employees, with operations in
the United States, Canada and the United Kingdom.

For the year ended Dec. 31, 2014, the Company reported a net loss
of $471 million following a net loss of $359 million in 2013.  

Walter Energy, Inc., and its affiliates sought Chapter 11
protection (Bankr. N.D. Ala. Lead Case No. 15-02741) in Birmingham,
Alabama on July 15, 2015.  The Debtors tapped Paul, Weiss, Rifkind,
Wharton & Garrison as counsel; Bradley Arant Boult Cummings LLP, as
co-counsel; Ogletree Deakins LLP, as labor and employment counsel;
Maynard, Cooper & Gale, P.C., as special counsel; Blackstone
Advisory Services, L.P., as investment banker; AlixPartners, LLP,
as financial advisor, and Kurtzman Carson Consultants LLC, as
claims and noticing agent.

Walter Energy disclosed total assets of $5.2 billion and total debt
of $5 billion as of March 31, 2015.

J. Thomas Corbett, the bankruptcy administrator for the Northern
District of Alabama, has appointed 13 members to the official
committee of unsecured creditors, including Pension Benefit
Guaranty Corp. and Nelson Brothers, LLC.


WILLIAM CONTRACTOR: Case Summary & 13 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: William Contractor Inc.
        PO Box 1161
        Aguada, PR 00602

Case No.: 15-06311

Chapter 11 Petition Date: August 18, 2015

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

Debtor's Counsel: Damaris Quinones Vargas, Esq.
                  BUFETE QUINONES VARGAS & ASOC
                  PO Box 429
                  Cabo Rojo, PR 00623
                  Tel: 787-851-7866
                  Fax: 787-851-1717
                  Email: damarisqv@bufetequinones.com

Total Assets: $6.38 million

Total Liabilities: $2.56 million

The petition was signed by Lymari Benique Moralez, vice president -
secretary.

List of Debtor's 13 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
United Surety And Indemnity Co.                          $357,540
PO Box 2111
San Juan, PR 00922-2111

Banco Popular De Puerto Rico                             $150,000

Banco Popular De Puerto Rico                             $353,000
PO Box 71365
San Juan, PR 00636

William Bonilla                                           $60,579

Almacenes Ari Lopez                                       $35,000

GE Capital Corp of Puerto Rico                            $25,000

Internal Revenue Services                                 $25,000

Banco Popular De Puerto Rico                              $25,000

Centro de Recaudacion de Impuestos Munic                  $22,000

Mocoroa Y Castellanos                                     $16,000

Danzler                                                   $16,000

Departamento De Hacienda                                  $15,909

First Bank PR                                             $15,000


[*] Fitch: More US Offshore Drillers Could Follow Hercules in Ch.11
-------------------------------------------------------------------
Hercules Offshore, Inc.'s prepackaged bankruptcy may be a leading
indicator of further bankruptcies among other challenged high yield
(HY) offshore drillers, according to Fitch Ratings.

Hercules' restructuring plan involves the conversion of over $1.2
billion in senior notes into 96.9% of the firm's new common equity
and establishment of $450 million of new debt financing to fund the
delivery of the company's contracted newbuild drilling rig, the
Hercules Highlander, and provide liquidity. The plan also provides
current equityholders with the remaining 3.1% of the new common
equity despite the debtor-asserted going concern enterprise value
range of $535 million to $725 million being below full recovery.
The plan is subject to court approval.

Hercules' filing moves the energy trailing 12-month (TTM) default
rate to 3%, up from 2.5% at the end of July. This and the expected
bankruptcy of Samson Resources Corp. will push the energy TTM
default rate to 4%, over twice the historical 1.9% mark.

The recent oil price drop has compounded the effects of the
offshore rig oversupply cycle, resulting in limited tenders, weak
day rates and legacy fleet rationalization. Existing backlogs have
generally insulated offshore drillers from lower market activity
and day rates so far. However, backlog protections for offshore
drillers are falling away at a fast clip - a significant portion
roll-off within the next year - which will likely begin to pressure
cash flows. Liquidity profiles are mixed, though larger,
investment-grade offshore drillers tend to be better positioned to
bridge the downcycle.

Ultra-deepwater rigs have legacy contract dayrates generally in the
high-$400,000 to $600,000 range, but a scarcity of tenders over the
past several quarters has introduced uncertainty regarding market
day rates. Fitch's best guess for short-run market day rates is
around $325,000 for ultra-deepwater rigs. This would probably
represent a 'purge day rate' that disincentivizes uncontracted
newbuild deliveries and facilitates legacy fleet rationalization,
leading to an eventual inflection point currently anticipated to be
late 2016/early 2017. Other rig types are anticipated to see
similar day rate reductions with uncompetitive rigs being stacked
or scrapped.

Fitch expects HY offshore drillers to be at a contracting
disadvantage, relative to larger, more established offshore
drillers, due to their smaller size, limited customer history, and
higher counterparty risk. Our view is that customers may, in most
cases, prefer the highest quality assets, but are also giving
careful consideration to an operator's size , staying power,
geological familiarity, and historical operating performance. This
assumed contracting disadvantage would greatly reduce HY offshore
drillers' ability to build a future backlog in the current
downturn, raising their probability of default.

In this context, HY offshore driller recovery prospects and
restructuring plans begin to come into focus in a hypothetical
default scenario. Fitch recently reviewed three HY offshore
drillers --  Vantage Drilling Company, Pacific Drilling S.A., and
Ocean Rig UDW Inc. -- and determined that secured noteholder had
above average (i.e. greater than 50%) recovery prospects, while
unsecured noteholders had poor (i.e. 0%-10%) prospects.



[*] Sandor Frankel Joins Otterbourg as Of Counsel
-------------------------------------------------
Otterbourg P.C. on Aug. 18 disclosed that highly respected
litigator Sandor Frankel has joined the firm as Of Counsel.  Mr.
Frankel's practice focuses on general litigation and business
litigation.

Mr. Frankel was a founding partner of Frankel & Abrams, a boutique
litigation firm.  He will continue in his position as one of four
trustees of The Leona M. and Harry B. Helmsley Charitable Trust,
which is among the nation's largest charitable foundations.

"Sandy is one of the most respected and multifaceted lawyers in New
York, and he will be a great addition to Otterbourg," said Daniel
Wallen, Otterbourg's chairman.  "The firm and our clients will
benefit from his legal and business expertise and wise counsel.
Everyone at the firm is looking forward to working with Sandy."

Mr. Frankel received his B.A. from New York University and LL.B.
from Harvard Law School.  After beginning his legal career as a
staff member of the White House Task Force on Crime and as
Temporary Counsel to the National Commission for Reform of Federal
Criminal Laws, he served as an Assistant United States Attorney in
Washington, D.C.  He left to become an associate in Fried Frank
Harris Shriver and Jacobson, and then formed Bender and Frankel,
one of the city's preeminent white-collar criminal law boutiques,
which evolved into the litigation firm Frankel & Abrams.  He is the
author of several books and received the Edgar Allan Poe Award for
Beyond A Reasonable Doubt.

"It is important to me, after having my own firm for so many years,
to join a well-established and forward-looking firm known for its
integrity and high-quality work, and that is Otterbourg," Mr.
Frankel said.  "This move provides me with an exciting opportunity
to expand my practice and assist my clients in many other areas
while working with a talented group of lawyers for whom I have
great respect."

                      About Otterbourg P.C.

Otterbourg P.C. offers clients a unique combination of legal
insight and practical solutions and is known for its integrity,
legal expertise, stability and business knowledge.  The firm,
established more than 100 years ago, regularly represents clients
in matters of national and international scope, including banks,
hedge funds, private equity firms, asset-based lenders, and high
net-worth individuals.  The firm's practice areas include domestic
and cross-border financings, litigation and alternative dispute
resolutions, real estate, restructuring and bankruptcy proceedings,
mergers and acquisitions and other corporate transactions, and
trusts and estates.


[*] SRW's Craig Simon Named to Best Lawyers in America 2016 List
----------------------------------------------------------------
Accomplished attorney Craig F. Simon of Dallas-based Simon, Ray &
Winikka LLP (SRW) is being honored as one of the country's top
bankruptcy lawyers in the 2016 edition of The Best Lawyers in
America.

Mr. Simon has served as lead counsel in complex, high-stakes
business disputes in courts and arbitrations across the country.
He has won significant victories on both sides of the docket for
clients ranging from large public companies to local entrepreneurs.
Mr. Simon holds a master's degree in accounting and previously
worked as a certified public accountant, providing him with a
unique perspective on the complex finance, accounting and valuation
issues that often are critical in business litigation.

A veteran of a large law firm before co-founding Simon, Ray &
Winikka, Mr. Simon has extensive expertise in all areas of
bankruptcy law.  He regularly represents official committees,
liquidating trusts and other parties in bankruptcy and
insolvency-related disputes, including fraudulent transfer
litigation, fiduciary duty and supplier disputes, plan confirmation
contests, and claims litigation. He has represented bankruptcy
clients in courts throughout Texas and across the nation.

"I am very gratified to be included in Best Lawyers alongside some
of the country's top bankruptcy attorneys, particularly since this
listing is based on the work done for clients rather than a
popularity contest," says Mr. Simon.  "I take great pride in
representing my clients, and I believe that is reflected in my
selection to this year's list."

This is the first time that Mr. Simon has been named to Best
Lawyers.  To be included in the annual guide, attorneys must
receive independent nominations before going through a peer review
process that is based on how their work is viewed by other lawyers.
That review is then considered by the publishers of Best Lawyers
before the final results are announced.  All Best Lawyers honorees
are in good standing with their state bar associations.

Simon, Ray & Winikka -- http://www.srwlawfirm.com-- is a
Dallas-based law firm representing clients in commercial litigation
and dispute counseling; employment litigation and counseling;
business restructuring and bankruptcy litigation; mass tort and
product liability defense; and general counsel services.


[^] BOOK REVIEW: Lost Prophets -- An Insider’s History
--------------------------------------------------------
Posted on January 29, 2015 by tope_editor
Author: Alfred L. Malabre, Jr.
Publisher: Beard Books
Softcover: 256 pages
List Price: $34.95
Review by Henry Berry

Order your personal copy today at http://is.gd/KNTLyr

Alfred Malabre’s personal perspective on the U.S. economy over
the
past four decades is firmly grounded in his experience and
knowledge. Economics Editor of The Wall Street Journal from 1969
to 1993 and author of its weekly “Outlook” column, Malabre was
in
a singular position to follow the U.S. economy in recent decades,
have access to the major academic and political figures
responsible for economic affairs, and get behind the crucial
economic stories of the day. He brings to this critical overview
of the economy both a lively, often provocative, commentary on the
picture of the turns of the economy. To this he adds sharp
analysis and cogent explanation.

In general, Malabre does not put much stock in economists. “In
sum, the profession’s record in the half century since Keynes
and
White sat down at Bretton Woods [after World War II] provokes
dismay.” Following this sour note, he refers to the belief of a
noted fellow economist that the Nobel Prize in this field should
be discontinued. In doing so, he also points out that the Nobel
for economics was not one originally endowed by Alfred Nobel, but
was one added at a later date funded by the central bank of Sweden
apparently in an effort to give the profession of economists the
prestige and notice of medicine, science, literature and other
Nobel categories.

Malabre’s view of economists is widespread, although rarely
expressed in economic circles. It derives from the plain fact
that modern economists, even hugely influential ones such as John
Meynard Keynes, are wrong as many times as they are right. Their
economic theories have proved incomplete or shortsighted, if not
basically wrong-headed. For example, Malabre thinks of the
leading economist Milton Friedman and his “monetarist
colleagues”
as “super salespeople, successfully merchandising.an economic
medicine that promised far more than it could deliver” from
about
the 1960s through the Reagan years of the 1980s. But the author
not only cites how the economy has again and again disproved the
theories and exposed the irrelevance of wrong-headedness of the
policy recommendations of the most influential economists of the
day. Malabre also lays out abundant economic data and describes
contemporary marketplace and social activities to show how the
economy performs almost independently of the best analyses and
ideas of economists.

Malabre does not engage in his critiques of noted economists and
prevailing economic ideas of recent decades as an end in itself.
What emerges in all of his consistent, clear-eyed, unideological
analysis and commentary is his own broad, seasoned view of
economics-namely, the predominance of the business cycle. He
compares this with human nature, which is after all the substance
of economics often overlooked by professional and academic
economists with their focus on monetary policy, exchange rates,
inflation, and such. “The business cycle, like human nature, is
here to stay” is the lesson Malabre aims to impart to readers
interested in understanding the fundamental, abiding nature of
economics. In Lost Prophets, in language that is accessible and
jargon-free, this author, who has observed, written about, and
explained economics from all angles for several decades,
persuasively makes this point.

In addition to holding a top position at The Wall Street Journal,
Malabre is also the author of the books, Understanding the New
Economy and Beyond Our Means, which received the George S. Eccles
Prize from the Columbia Business School as the best economics book
of 1987.



                            *********

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 ***