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         T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, September 11, 2015, Vol. 19, No. 254

                            Headlines

29 BROOKLYN: Receiver's $72K Claim Allowed
33 PECK SLIP ACQUISITION: Seeks Late Oct. Plan Confirmation Hearing
ACADEMIA SAGRADO: Case Summary & 11 Largest Unsecured Creditors
ALTERNATIVES LIVING: Case Summary & 20 Top Unsecured Creditors
AMSCO STEEL: Proposes Sept. 30 Auction of Assets

ARG LAKE LAWRENCE: Case Summary & Largest Unsecured Creditor
AT HOME GROUP: S1 Filing Potentially Credit Pos., Says Moody's
AT-NET SERVICES: PNC's Lien Not "Insignificant", Court Says
ATWATER, CA: Moody's Hikes Tax Allocation Bonds from 'Ba2'
BERAU CAPITAL: U.S. Recognition of Singapore Proceedings Urged

BERRY PLASTICS Moody's Confirms 'B1' Corp. Family Rating
BERRY PLASTICS: S&P Affirms 'B+' CCR & Rates $1.9BB Loans 'BB-'
BEVERLY HILLS HOSPITALITY: Case Summary & 20 Top Creditors
BOOMERANG TUBE: Ford Wants to Repossess Vehicle & Water Tank
BOOMERANG TUBE: Wants Lease Decision Deadline Moved to Jan. 4

BROOKLYN RENAISSANCE: 341 Meeting of Creditors Today
CHARLOTTE SALWASSER: Thomas Armstrong DQ'd as Bankruptcy Counsel
COLT DEFENSE: MagPul Industries Steps Down from Creditors' Panel
CONCORDIA HEALTHCARE: Moody's Reviews 'B2' CFR for Downgrade
CONGREGATION BIRCHOS: Automatic Stay Enforced Against Bais Chinuch

CRGT INC: Moody's Alters Outlook to Negative & Affirms 'B3' CFR
CRGT INC: S&P Revises Outlook to Positive & Affirms 'B-' CCR
CRP-2 HOLDINGS: Files Amended Schedule F
CT TECHNOLOGIES: Moody's Affirms 'B2' Corp. Family Rating
CTLI LLC: Alcede's Bid to Revoke Plan Confirmation Denied

DAIRY PRODUCTION: FCC Equipment Wins in Guaranty Suit
DASEKE INC: Moody's Withdraws B1 Corp. Family Rating
DCP MIDSTREAM: Fitch Lowers IDR to 'BB+', Outlook Stable
DCP MIDSTREAM: S&P Affirms 'BB' CCR, Outlook Negative
DEWEY & LEBOEUF: Former Execs' Attys Give Final Arguments at Trial

DIVERSE ENERGY: Files for Bankruptcy Protection
DP MARINA: Case Summary & 7 Largest Unsecured Creditors
DRESSEL ASSOCIATES: Dismissal of Trustee's Complaint Affirmed
DYNAMIC DRYWALL: Claims Against Former Counsel Dismissed
DYNAMIC DRYWALL: Former Atty's Bid to Dismiss Suit Granted

EQUINIX INC: Moody's Affirms 'Ba3' CFR, Outlook Stable
F-SQUARED INVESTMENT: Katz Nannis Hired as Outside Accountants
FIRST EVANGELIST: Case Summary & 9 Largest Unsecured Creditors
FRONTIER COMMUICATIONS: Moody's Rates New Sr. Unsec. Notes 'Ba3'
FRONTIER COMMUNICATIONS: S&P Rates $6.6BB Sr. Unsec. Notes 'BB-'

GREAT LAKES AVIATION: Hires Stan Gadek as CFO & VP
GRETTER AUTOLAND: Bids to Assign Ford & GM Dealerships Denied
HAGGEN HOLDINGS: Seeks to Obtain $215-Mil. DIP Financing
HAGGEN HOLDINGS: Wants to Continue Store Closings with Hilco
HEALTH DIAGNOSTIC: Gets Final Approval to Obtain $12-Mil. Loan

HEALTH DIAGNOSTIC: Judge Declines BB&T's Bid to Stay DIP Order
HORNED DORSET: Taps Pedro J. Rivera & Assoc. as Accountants
INDIANA BANK: Court Grants Motion to Dismiss "Phillips" RICO Suit
LNIC-MD LLC: Case Summary & 3 Largest Unsecured Creditors
LOMA LINDA: Fitch Lowers Rating on $683MM Revenue Bonds to 'BB+'

LOUISIANA-PACIFIC CORP: S&P Lowers Rating to 'BB-'; Outlook Stable
LUCA INTERNATIONAL: Court Approves Property Transfer
LUCA INTERNATIONAL: Proposes Incentive Plan for Key Employees
MEGA RV: Bankruptcy Court Approves Lance Soll as Accountants
NEW YORK LIGHT: Panel Agrees to Pay Emerald Capital $375 Per Hour

NEWZOOM INC: Maker of Airport, Mall Kiosks Enters Bankruptcy
NICHOLS CREEK: Hawkins Avenue Consents to Case Dismissal
NNN MET: Taps Darvy Mack Cohan as Lead Bankruptcy Counsel
NRAD MEDICAL: Competitor Mulls Bid, Objects to Sale Terms
NRAD MEDICAL: Equipment Lessor Objects to Sale of Unit

OAKFABCO INC: Section 341(a) Meeting Slated for September 29
PARTSMAX OF TAMPA: Court Trims Dickerson Claims
PATRIOT COAL: Execs Must Sit for Questioning, Judge Rules
QUIKSILVER INC: Bankruptcy Court Approves $175MM DIP Financing
QUIKSILVER INC: Gets Interim Approval to Conduct Store Closings

QUIKSILVER INC: Seeks Approval of Oaktree Plan Sponsor Agreement
RAILYARD COMPANY: Files Schedules of Assets and Liabilities
RAILYARD COMPANY: Hires William F. Davis & Assoc. as Attorneys
RAILYARD COMPANY: Section 341 Meeting Set for October 8
RECORDING ARTS: S&P Assigns 'B' Rating on Revenue Refunding Bonds

REHOBOTH MCKINLEY: Fitch Maintains 'B' Bonds Rating on Watch Neg
RESIDENTIAL CAPITAL: Amended Moss Claim Expunged
RESPONSE GENETICS: BDO USA May Provide Auditing Services
RESPONSE GENETICS: Gets Court Nod to Implement Incentive Plan
RIVERWALK JACKSONVILLE: Files First Amendment to Alliance PSA

RUBY TUESDAY: S&P Affirms 'B-' Corp Credit Rating, Outlook Stable
SAVIENT PHARMACEUTICALS: Securities Fraud Action Dismissed
SHENANDOAH FAMILY: Pinnacle Foods Buys Hagerstown Plant for $4.2MM
SIGNAL INTERNATIONAL: Auction Date Moved to Oct. 14
SPECTRUM ANALYTICAL: Bacon Wilson OK'd to Withdraw as Counsel

SPECTRUM ANALYTICAL: Court Okays $5-Mil. Asset Sale to Eurofins
SPECTRUM ANALYTICAL: Ford Motor Wins OK to Exercise Rights on Autos
STANDARD REGISTER: Jefferies Transaction Fees Amended
TARGA RESOURCES: Moody's Assigns 'Ba2' to New $400MM Notes
TARGA RESOURCES: S&P Assigns BB+ Rating on New $400MM Unsec. Notes

TRANS COASTAL: Brian Benbow Engaged as Special Counsel
TRANS COASTAL: Court Approves Chris Harrison as Realtor
TRANS COASTAL: Files Schedules and Statements with C.D. Ill. Court
TRANS COASTAL: Wants to Hire Richardson & Erickson as Attorney
TRIPLE POINT: S&P Lowers CCR to 'CCC+', Outlook Negative

TWENTYEIGHTY INC: S&P Affirms B- Corp. Credit Rating, Off Watch Neg
VWR FUNDING: Moody's Rates Sr. Secured Loans Ba3, Outlook Stable
VWR FUNDING: S&P Raises CCR to 'BB-' & Rates Proposed Debt 'BB'
WORLD TRIATHLON: Moody's Keeps B2 CFR on Equity Ownership Change
ZLOOP INC: Seeks to Employ Miller Coffrey as Accountants

[*] Moody's: Mobile Carriers' Higher Debt to Affect Credit Metrics
[^] BOOK REVIEW: The Story of The Bank of America

                            *********

29 BROOKLYN: Receiver's $72K Claim Allowed
------------------------------------------
Judge Carla E. Craig of the United States Bankruptcy Court for the
Eastern District of New York allowed Receiver Stephen R. Chesley's
Proof of Claim in the amount of $72,449.

Judge Craig holds that the amount of $72,449 represents the $80,757
requested in the Proof of Claim, minus $750 in expenses for which
there is no factual support, minus the $3,347 "Balance of Unpaid
Legal Fees" charge to Tenenbaum Berger for which there is
insufficient factual support, minus $1,232 in expenses for
post-petition court appearances by Tenenbaum Berger, minus $1,818
in improper Con Edison invoices that the Receiver withdrew, minus
the $709 in building management fees for February 2012 and part of
January 2012, and minus $450 for the renewal bond payment.

Judge Craig relates that the Court will cancel the surety on the
bond nunc pro tunc to April 4, 2013. She adds that the Receiver is
also surcharged $225.49, representing the $48.07 improper Con
Edison invoice that the Receiver withdrew and $177.42 of the
October 2010 management fee.  Judge Craig directed the Debtor to
remit $72,223.86 of the funds escrowed during plan confirmation,
representing the allowed amount of the Proof of Claim minus the
amount that the Receiver is surcharged, to the Receiver.

The case is In re 29 Brooklyn Avenue, LLC, Chapter 11, Debtor, Case
No. 12-40279-CEC (Bankr. E.D.N.Y.).

A full-text copy of Judge Craig's Decision dated August 21, 2015,
is available at http://is.gd/pvjCidfrom Leagle.com.

Receiver Stephen R. Chesley is represented by:

          Michael Cohen, Esq.
          TENENBAUM BERGER & SHIVERS, LLC
          26 Court Street, Ste 8H
          Brooklyn, NY 11242
          Telephone: (718)596-3800

29 Brooklyn Avenue, LLC is represented by:

          David Carlebach, Esq.
          Shella Sadovnik, Esq.
          THE CARLEBACH LAW GROUP
          40 Exchange Place, #1306
          New York, NY 10005-2743
          Telephone: (212)785-3041

29 Brooklyn Avenue, LLC, sought protection under Chapter 11 of the
Bankruptcy Code on Jan. 18, 2012 (Bankr. E.D.N.Y., Case No.
12-40279).  The case is assigned to Judge Joel B. Rosenthal.  The
Debtor's counsel is David Carlebach, Esq., in New York.


33 PECK SLIP ACQUISITION: Seeks Late Oct. Plan Confirmation Hearing
-------------------------------------------------------------------
33 Peck Slip Acquisition LLC and its debtor affiliates ask the U.S.
Bankruptcy Court for the Southern District of New York to enter an
order setting a plan confirmation schedule, including setting the
plan confirmation hearing for late October or early November.

The Debtors have prepared and are ready to file a joint plan of
reorganization, which provides for the sale of each of the Debtors'
real estate assets and the distribution of the sale proceeds to the
applicable Debtor's creditors and members.

The Debtors intend to sell their hotel properties in New York
City:

   * the Best Western Seaport Hotel, at 33 Peck Slip in the South
     Street Seaport Historic District on the Lower Manhattan
     waterfront in New York City, New York;

   * the Wyndham Flatiron Hotel, at 37 West 24th Street in the
     Flatiron district of New York City, New York;

   * the Jade Greenwich Village Hotel at 52 West 13th Street in
     Greenwich Village in Lower Manhattan in New York City, New   
     York; and

   * the Bryant Park Development Site, a development lot that is
     approved for development as a 114-room boutique hotel at 34-
     36 West 38th Street in the Bryant Park district of New York  

     City, New York.

Pursuant to the Plan, all creditor classes will either receive
payment in full on the effective date of the Plan or will retain
unaltered the legal, equitable, and contractual rights to which
such claim entitles the holder of such claim, and all member
classes will retain unaltered the legal, equitable, and contractual
rights to which such interest entitles the holder of such interest.
Therefore, all classes under the Plan are unimpaired within the
meaning of Section 1124 of the Bankruptcy Code.

Because the Plan does not propose to impair any class of claims or
interests, the Debtors assert they are not required to solicit
acceptances in order to satisfy the confirmation requirements of
section 1129 of the Bankruptcy Code.  Accordingly, the Debtors
maintain they are not required to obtain approval of and serve on
interested parties a disclosure statement.

Because the Debtors believe there is no requirement that the Court
approve and they serve a disclosure statement as a precondition to
a confirmation hearing, the Debtors request that the Court set at
this time a confirmation schedule that includes the following dates
and deadlines:

  * The Debtors request that a hearing to consider confirmation
    of the Plan be set for late October or early November 2015.

  * The Debtors request that the deadline for interested parties
    to file and serve objections or proposed modifications to the
    Plan be approximately two weeks prior to the Confirmation
    Hearing.

  * The Debtors request that the deadline for the Debtors to file
    and serve any declarations in support of confirmation and any
    memorandum of points and authorities or other papers in
    support of confirmation of the Plan, including any reply to
    any timely filed and served objection to confirmation of the
    Plan be approximately one week prior to the Confirmation
    Hearing.

  * The Debtors propose to serve a notice of the Confirmation
    Hearing on all creditors, members and other interested parties
    no later than 28 days prior to the Confirmation Objection
    Deadline.

A full-text copy of the Debtors' Joint Plan of Reorganization is
available for free at:

          http://bankrupt.com/misc/33_PECKSLIP_Plan.pdf

                           About 33 Peck

33 Peck Slip Acquisition LLC, et al., sought Chapter 11 bankruptcy
petition (Bankr. S.D.N.Y. Case Nos. 15-12479 to 15-12482) on
Sept. 3, 2015.

The Debtors reported total assets of $205.8 million and total
liabilities of $135.6 million.

The Debtors have hired Robins Kaplan LLP as their counsel and
RobertDouglas as their real estate advisor to assist with the
sales.


ACADEMIA SAGRADO: Case Summary & 11 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Academia Sagrado Corazon, Inc.
        PO Box 11368
        San Juan, PR 00910

Case No.: 15-06955

Chapter 11 Petition Date: September 9, 2015

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

Debtor's Counsel: Wigberto Mercado Barbosa, Esq.
                  WIGBERTO MERCADO LAW OFFICES
                  PO Box 9020281
                  San Juan, PR 00902-0281
                  Tel: 787-840-5800/787-269-8844
                  Email: lcdowmercado@yahoo.com

Total Assets: $1.2 million

Total Liabilities: $220,979

The petition was signed by Dr. Julia Malave, president.

A list of the Debtor's 11 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb15-06955.pdf


ALTERNATIVES LIVING: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Alternatives Living, Inc.
        4219 Magnolia Street
        New Orleans, LA 70115

Case No.: 15-12308

Nature of Business: Health Care

Chapter 11 Petition Date: September 9, 2015

Court: United States Bankruptcy Court
       Eastern District of Louisiana (New Orleans)

Judge: Hon. Elizabeth W. Magner

Debtor's Counsel: Leo D. Congeni, Esq.
                  CONGENI LAW FIRM, LLC
                  424 Gravier Street
                  New Orleans, LA 70130
                  Tel: (504) 522-4848
                  Fax: (504) 581-4962
                  Email: leo@congenilawfirm.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Rickey Roberson, chief financial
officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/laeb15-12308.pdf


AMSCO STEEL: Proposes Sept. 30 Auction of Assets
------------------------------------------------
AMSCO Steel Company, L.L.C., and Pyndus Steel & Aluminum Co., Inc.,
filed an amended motion seeking authority from the United States
Bankruptcy Court for the Northern District of Texas, Fort Worth
Division, to sell all or substantially all of their assets to DFW
Steel, LLC, for $3,025,000.

The assets to be sold include all (a) equipment; (b) inventory; (c)
goodwill; (d) general tangibles; and (e)tangible property used or
held for use in the conduct of the Debtors’ businesses.

Subject to being extended under the APA, the closing of the sale
will occur no later than Nov. 1, 2015.

The sale is contingent upon Meridian's agreement to refinance the
existing balance of all of its credit facilities to the Debtors and
to provide additional financing necessary to consummate the APA, up
to the aggregate amunt of $2,400,000, pursuant to a secured
non-recourse loan.  The sale is further contingent upon (a) the
Buyer executing, prior to closing, a binding written lease
agreement with SPS Family Partnership, Ltd., for the use of the
real property and improvements at the Debtors' Fort Worth, Texas
facility, (b) the Buyer, prior to closing, executing a binding
written agreement with SPS granting the Buyer a right of first
refusal to acquire the leased real property and improvements during
the life of the lease, and (c) Stephen S. Sikes and Clayton Sikes,
prior to the closing, executive non-compete agreements.

The Debtors ask the Court to approve a break-up fee up to a maximum
of $76,250.

In order to maximize the value of the assets, the Debtors propose a
Sept. 24 deadline for submission of any and all bids.  In the event
that one or more Qualified Bids, other than the Qualified Bid of
the Buyer, are timely received, an auction will be held on Sept. 30
at the law offices of Forshey & Prostok, LLP, in Fort Worth,
Texas.

The Official Committee of Unsecured Creditors filed an objection
stating it is not generally concerned with the various "bid
protection" contained in the Bidding Procedures, nor is it
attempting to prohibit a sale that may be the right outcome.
Instead, the Committee is seeking only to slow the process down
only so far as needed to ensure that a sale of the Debtors' assets
is guided by sound business justification and only after a robust
sale, marketing and auction process, given the early stage of these
proceedings and the lack of information provided to the newly
formed Committee, coupled with the fact that the Debtors have
indicated that secured creditors are likely to be paid in full and
unsecured creditors are not likely to benefit, the
expedited sale procedures should not be approved, the Committee
adds.

AMSCO Steel Company, L.L.C. and Pyndus Steel & Aluminum Co., Inc.
are represented by:

          J. Robert Forshey, Esq.
          Matthew G. Maben, Esq.
          FORSHEY & PROSTOK LLP
          777 Main St., Suite 1290
          Ft. Worth, TX 76102
          Telephone: (817)877-8855
          Facsimile: (817)877-4151
          Email: forshey@forsheyprostok.com
                 mmaben@forsheyprostok.com

The Official Committee for Unsecured Creditors is represented by:

          David Grant Crooks, Esq.
          Michael G. Menkowitz, P.C.,  Esq.  
          Paul J. Labov, P.C.,  Esq.  
          FOX ROTHSCHILD LLP
          Two Lincoln Centre
          5420 LBJ Freeway, Suite 1200
          Dallas, TX 75240
          Email: dcrooks@foxrothschild.com
                 mmenkowitz@foxrothschild.com
                 plabov@foxrothschild.com

                   About  AMSCO Steel Company, LLC

AMSCO Steel Company, LLC, and Pyndus Steel & Aluminum Co., Inc.,
sought protection under Chapter 11 of the Bankruptcy Code on Aug.
10, 2015 (Bankr. N.D. Tex., Case No. 15-43240).  The Debtors are
suppliers and processors of steel products for a wide variety of
customers throughout the United States and Mexico.  The case is
assigned to Judge Russell F. Nelms.

The Debtors' counsel are J. Robert Forshey, Esq., and Matthew G.
Maben, Esq., at Forshey & Prostok, LLP, in Forth Worth, Texas.


ARG LAKE LAWRENCE: Case Summary & Largest Unsecured Creditor
------------------------------------------------------------
Debtor: ARG Lake Lawrence LLC
        69 Cross Road
        Colts Neck, NJ 07722

Case No.: 15-27015

Chapter 11 Petition Date: September 9, 2015

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

Judge: Hon. Kathryn C. Ferguson

Debtor's Counsel: Shmuel Klein, Esq.
                  LAW OFFICE OF SHMUEL KLEIN
                  113 Cedarhill Avenue
                  Mahwah, NJ 07430
                  Tel: 845-425-2510
                  Email: shmuel.klein@verizon.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Arvind Goel, sole member.

The Debtor listed JPM CC 2006 as its largest unsecured creditor
holding a claim of $3 million.

A full-text copy of the petition is available for free at:

            http://bankrupt.com/misc/njb15-27015.pdf


AT HOME GROUP: S1 Filing Potentially Credit Pos., Says Moody's
--------------------------------------------------------------
Moody's Investors Service said At Home Group Inc. (ultimate parent
of At Home Holdings III Inc., B2 Stable) filed an S1 with the
Securities and Exchange Commission announcing the potential
issuance of up to $100 million of common stock. If issued, the
transaction would likely be credit positive as net proceeds are
expected to be used to repay indebtedness (plus accrued and unpaid
interest, and premium) under the company's $130 million second lien
term loan due 2023.


AT-NET SERVICES: PNC's Lien Not "Insignificant", Court Says
-----------------------------------------------------------
Judge Laura T. Beyer of the United States Bankruptcy Court for the
Western District  of North Carolina, Charlotte Division, denied the
debtor AT-NET Services-Charlotte, Inc.'s ("AT-NET") Motion for
Determination of Inconsequential Value Pursuant to 11 U.S.C.
Section 1111(b)(1)(B)(i).

On July 10, 2015, PNC Bank, National Association ("PNC") filed its
Notice of Section 1111(b) Election.  PNC is an undersecured
creditor of AT-NET with a total filed claim in the amount of
$3,256,020.67,

AT-NET sought an order determining that PNC's interest in property
of the estate is "of inconsequential value" for the purposes of
Section 1111(b)(1)(B)(i).  AT-NET argued that PNC's lien is of
inconsequential value because AT-NET cannot satisfy the
requirements of section 1129(b)(2)(A)(i)(II) over a term of 30 to
40 years or less.

PNC argued that the court should compare the value of PNC's lien to
the value of the collateral to determine if its interest is "of
inconsequential value."  It argued that, even compared to its total
claim, the value of PNC's lien is not "not important or
significant" as the parties have stipulated that the value of the
collateral is $432,575.00, or approximately 13% of PNC's total
claim.

Judge Beyer was not persuaded that the inconsequential value
analysis requires consideration of the requirements of Section
1129(b).  The judge explained that the plain language of Section
1111(b)(1)(B)(i) requires the court to compare the value of PNC's
lien with the value of the collateral.  Since the value of PNC's
lien is approximately 13% of the value of its total claim, Judge
Beyer concluded that even if she were to compare the value of PNC's
lien with the value of its total claim, she cannot find that the
value of PNC's lien is "not important or significant."

The case is IN RE: AT-NET SERVICES-CHARLOTTE, INC., Chapter 11,
Debtor, CASE NO. 14-32047 (W.D.N.C.).

A full-text copy of Judge Beyer's August 17, 2015 opinion is
available at http://is.gd/QHoVWBfrom Leagle.com.


ATWATER, CA: Moody's Hikes Tax Allocation Bonds from 'Ba2'
----------------------------------------------------------
Moody's Investor's Service has upgraded to Baa2 from Ba2 the
Successor Agency to the Atwater Redevelopment Agency's (CA) Tax
Allocation Bonds.

Moody's said, "On June 24, 2015, in connection with the release of
our Tax Increment Debt methodology, we placed the ratings for
nearly all California tax allocation bonds (TABs) on review for
upgrade, including this Successor Agency's (SA) TABs. This rating
action completes our review for this SA."

Three years post-dissolution, the administrative risks related to
the payment of debt service have significantly lessened, so we are
now placing greater weight on the fundamental project area
characteristics and some of the positive features of the
dissolution legislation, including the closed lien status of the
debt and the availability of the 20% of tax increment (TI) revenues
previously restricted for use on affordable housing to pay debt
service.

SUMMARY RATING RATIONALE

The upgrade to Baa2 takes into account the key characteristics of
the project area that, while small, exhibits a strong ratio of
incremental AV to total AV, only modest declines in AV through the
recession, and positive growth over the past three fiscal years.
Also incorporated into the rating is the moderately high taxpayer
concentration, adequate debt service coverage level, and below
average socioeconomic profile of area residents.

The rating factors in the SA's successful adaptation to post
dissolution processes and administrative procedures and Moody's
expectation that this will continue. The rating also incorporates
Moody's generally positive assessment of the implementation of the
legislation that dissolved redevelopment agencies (RDAs) by most
successor agencies over the last three years, leading to timely
payment of debt service on California TABs.

In 2012, state legislation dissolved all California RDAs, replacing
them with "successor agencies" to serve as fiduciary agents.
Dissolution effectively changed the flow of funds and processes
around the payment of debt service on TABs. Tax increment revenue
is placed in trust with the county auditor-controller, who makes
semi-annual distributions of funds sufficient to pay debt service
on TABs and other "enforceable obligations" approved by the state.

OUTLOOK

Outlooks are generally not applicable for local governments with
this amount of debt outstanding.

WHAT COULD MAKE THE RATING GO UP

-- Material improvement in debt service coverage

-- Diversification of the tax base

-- Improvement to the socioeconomic profile of the community

WHAT COULD MAKE THE RATING GO DOWN

-- Protracted decline in incremental AV; erosion of debt service
    coverage levels

-- Additional legislative or administrative changes that create
    uncertainty as to the timely payment of debt service

OBLIGOR PROFILE

The Successor Agency to the Atwater Redevelopment Agency is a
separate legal entity from the City of Atwater. The SA is
responsible for winding down the operations of the former RDA,
making payments on state-approved "enforceable obligations" and
liquidating any unencumbered assets to be distributed to other
local taxing entities.

LEGAL SECURITY

The legal security for bonds is tax increment revenue from the
project area. Pass-through payments are subordinate to debt
service.

USE OF PROCEEDS

N/A

RATING METHODOLOGY

The principal methodology used in these ratings was Tax Increment
Debt published in June 2015.


BERAU CAPITAL: U.S. Recognition of Singapore Proceedings Urged
--------------------------------------------------------------
Kin Chan, the duly authorized foreign representative of Berau
Capital Resources Pte Ltd's foreign proceeding, submitted to the
U.S. Bankruptcy Court a supplemental memorandum of law in support
of his application for an order:

   a) granting provisional relief and enjoining creditors from
initiating or continuing any collection efforts in the U.S. pending
the hearing on the Foreign Debtor's petition for recognition of the
foreign proceeding commenced in the High Court of the Republic of
Singapore pursuant to Section 210(10) of the Singapore Companies
Act as a foreign main proceeding; and

   b) recognizing the Singapore Proceeding as a foreign main
proceeding pursuant to Sections 1515 and 1517 of the Bankruptcy
Code.

According to the foreign representative, the rights of the Foreign
Debtor under the Indenture and the Indenture related documents
constitute property within the meaning of the Bankruptcy Code,
including under section 109(a), and the Foreign Debtor's property
rights in such agreements are located in the United States, thus
satisfying -- independent of its other property in the United
States (its interest in its attorney's retainer account located in
Manhattan, NY) -- any requirement that the Foreign Debtor have
property in the United States at the time of the filing of its
petition under chapter 15 of the Bankruptcy Code.

As reported in the Troubled Company Reporter on Aug. 21, 2015, the
U.S. Bankruptcy Court of the Southern District of New York granted
provisional relief under Chapter 15 of the Bankruptcy Code to the
Debtor. 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 Foreign Representative is represented by:

         Edward J. LoBello, Esq.
         Thomas R. Slome, Esq.
         Jil Mazer-Marino, Esq.
         MEYER, SUOZZI, ENGLISH & KLEIN, P.C.
         1350 Broadway, Suite 501
         New York, NY 10018
         Tel: (212) 239-4999
         Fax: (212) 239-1311

                       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.


BERRY PLASTICS Moody's Confirms 'B1' Corp. Family Rating
--------------------------------------------------------
Moody's Investors Service confirmed the B1 Corporate Family Rating
and B1-PD Probability of Default Rating of Berry Plastics Group
Inc.  Moody's also assigned a Ba3 rating to the proposed $1,900
million first lien senior secured term loan due September 2022 and
a B3 rating to the $600 million second priority senior secured
notes due September 2022 of Berry Plastics Corporation and affirmed
the Speculative Grade Liquidity Rating of SGL-2. The ratings
outlook is stable. The proceeds from the new term loan and notes
will be used to acquire AVINTIV Inc. as well as pay fees and
expenses associated with the transaction. This concludes the review
for possible downgrade initiated on July 31, 2015 when Berry
announced that it had entered into a definitive agreement to buy
AVINTIV Inc. from private equity funds managed by The Blackstone
Group LP for approximately $2.45 billion in cash on a debt-free,
cash-free basis.

Moody's took the following actions:

Berry Plastics Group, Inc.

  Confirmed Corporate Family Rating, B1

  Confirmed Probability of Default Rating, B1-PD

  Affirmed Speculative Grade Liquidity Rating, SGL-2

Berry Plastics Corporation

  Confirmed $1,400 million First Lien Senior Secured Term Loan due

  February 2020, Ba3/LGD 3

  Confirmed $1,125 million First Lien Senior Secured Term Loan due

  January 2021, Ba3/LGD 3

  Confirmed $500 million Second Priority Senior Secured Notes due
  May 2022, B3/LGD 5

  Confirmed $700 million Second Priority Senior Secured Notes due
  July 2023, B3/LGD 5

  Assigned $1,900 million First Lien Senior Secured Term Loan due
  2022, Ba3/LGD3

  Assigned $600 million Second Priority Senior Secured Notes due
  2022, B3/LGD 5

The ratings outlook is stable.

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

RATINGS RATIONALE

The confirmation of the rating reflects the pro forma free cash
flow, expected benefits of completed and ongoing cost saving
initiatives and Berry's commitment to dedicate all free cash flow
to debt reduction until credit metrics are restored to the B1
rating category. The confirmation also reflects benefits from the
AVINTIV acquisition including anticipated synergies, expansion of
the geographic footprint and an increase in the exposure to
healthcare end markets. Berry's pro forma leverage is approximately
5.5 times for the 12 months ended June 30, 2015. However, pro forma
free cash flow is expected to allow the company to improve metrics
to a level within the rating triggers within the next 12 to 18
months.

Berry's B1 Corporate Family Rating reflects the company's exposure
to more cyclical end markets, certain weaknesses in contract
structures with customers and high percentage of commodity
products. The rating also reflects the stretched credit metrics
proforma for the Avintiv acquisition and the fragmented and
competitive industry structure.

Strengths in Berry's competitive profile include its scale,
concentration of sales in relatively more stable end markets and
good liquidity. The company's strengths also include a strong
competitive position in rigid plastic containers and continued
focus on producing innovative products.

The rating could be downgraded if there is deterioration in the
credit metrics, liquidity or the operating and competitive
environment. Additional debt financed acquisitions, excessive
acquisitions (regardless of financing) and/or a move to a more
aggressive financial profile could also prompt a downgrade.
Specifically, the rating could be downgraded if the company fails
to sustainably improve total adjusted debt to EBITDA to under 5.25
times and EBIT to gross interest coverage to above 1.9 times. The
rating could also be downgraded if the EBIT margin declines below
the high single digits and/or free cash flow to debt declines below
the positive high single digits.

The ratings could be upgraded if the company sustainably improves
credit metrics within the context of a stable operating and
competitive environment while maintaining good liquidity. An
upgrade would also be dependent upon less aggressive financial and
acquisition policies. The ratings could be upgraded if adjusted
total debt to EBITDA moves below 4.5 times, free cash flow to debt
moves up to the low double digit range, the EBIT margin improves to
the low double digit range, and EBIT to gross interest coverage
moves above 2.5 times.

Based in Evansville, Indiana, Berry Plastics Corporation is a
supplier of plastic packaging products, serving customers in the
food and beverage, healthcare, household chemicals, personal care,
home improvement, and other industries. The company reports in four
segments including two rigid packaging segments (open and closed
top), engineered materials and flexible packaging which accounted
for approximately 22%, 30%, 29%, and 19% of sales respectively for
the 12 months ended June 28, 2015. Berry has manufacturing and
distribution centers in the United States, Canada, Mexico, Belgium,
Australia, Germany, Brazil, Malaysia, and India. Net sales for the
12 months ended June 28, 2015 totaled approximately $5.0 billion.

The principal methodology used in these ratings was Global
Packaging Manufacturers: Metal, Glass, and Plastic Containers
published in June 2009.


BERRY PLASTICS: S&P Affirms 'B+' CCR & Rates $1.9BB Loans 'BB-'
---------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
corporate credit rating on Evansville, Ind.-based Berry Plastics
Group Inc.

At the same time, S&P assigned its 'BB-' issue-level rating and '2'
recovery rating to the company's proposed $1.9 billion first-lien
term loans and S&P's 'B' issue-level rating and '5' recovery rating
to its proposed $600 million second-priority senior secured notes.
The '2' recovery rating indicates S&P's expectation for substantial
(70% to 90%; higher half of the range) recovery and the '5'
recovery rating indicates our expectation for modest (10% to 30%;
lower half of the range) recovery in the event of a payment
default.

S&P also raised its issue-level rating on the company's existing
second-lien secured notes to 'B' from 'B-' and revised the recovery
rating on the debt to '5' from '6'.  The '5' recovery rating
indicates S&P's expectation for modest (10% to 30%; lower half of
the range) recovery in the event of a payment default.
Additionally, S&P affirmed its 'BB-' issue-level rating with a
recovery rating of '2' on the company's existing first-lien term
loan facilities.  The '2' recovery rating indicates S&P's
expectation for substantial (70% to 90%; higher half of the range)
recovery in the event of a payment default.

"The corporate credit rating affirmation reflects our view that the
AVINTIV acquisition enhances Berry's operations enough to offset
the additional debt incurred to fund the transaction, resulting in
a neutral effect on credit quality," said Standard & Poor's credit
analyst James Siahaan.

S&P is also revising Berry's business risk profile to
"satisfactory" from "fair," as defined in S&P's criteria.

S&P assesses Berry's financial risk profile as "highly leveraged,"
as defined in S&P's criteria, given its pro forma adjusted debt to
EBITDA that exceeds 5x, and it assess the company's liquidity as
"adequate."

The stable outlook reflects S&P's anticipation of solid demand for
Berry's rigid, flexible, and nonwoven packaging products, along
with the timely and effective integration of the AVINTIV unit.
S&P's forecast incorporates cost synergies of potentially $50
million to help Berry's profitability.  While the additional debt
results in weaker credit measures, S&P expects the company to
generate over $450 million of free cash annually and to eventually
reduce debt leverage to less than 5.5x adjusted debt to EBITDA by
this point next year, which would be below the high end of the 5x
to 6x range for the "highly leveraged" financial risk profile
designation.  Berry may continue to undertake small bolt-on
acquisitions as a part of its growth strategy, but S&P's forecast
does not contemplate any additional large debt-funded transactions
that would meaningfully weaken its financial risk profile.  The
stable outlook also reflects the maintenance of "adequate"
liquidity to fund the company's operations and debt service.

"We could lower the rating if a severe economic downturn results in
sustained weakness in sales volume and compressed profit margins,
resulting in an adjusted debt to EBITDA ratio of over 6x. We
estimate that this could occur if Berry's revenues were flat to
slightly down, combined with a 200 basis point degradation in
EBITDA margins.  We could also lower the rating if the company
experiences difficulties in integrating the AVINTIV acquisition,
resulting in additional outlays and lower-than-expected
profitability, or if its liquidity deteriorates markedly," S&P
said.

While less likely given S&P's anticipation of high debt leverage
during the next year, it could raise its ratings on Berry if the
company shows a forceful and sustained improvement in
profitability, along with a demonstrated commitment to more
conservative financial policies, resulting in sustained FFO to debt
of greater than 12% and debt to EBITDA of less than 5.0x.



BEVERLY HILLS HOSPITALITY: Case Summary & 20 Top Creditors
----------------------------------------------------------
Debtor: Beverly Hills Hospitality Group LLC
        25325 Dana Point Harbor Dr
        Dana Point, CA 92629

Case No.: 15-14420

Chapter 11 Petition Date: September 9, 2015

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

Judge: Mark S Wallace

Debtor's Counsel: Leslie A Cohen, Esq.
                  LESLIE COHEN LAW PC
                  506 Santa Monica Bl Ste 200
                  Santa Monica, CA 90401
                  Tel: 310-394-5900
                  Fax: 310-394-9280
                  Email: leslie@lesliecohenlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Gal Lipkin, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb15-14420.pdf


BOOMERANG TUBE: Ford Wants to Repossess Vehicle & Water Tank
------------------------------------------------------------
Ford Motor Credit Company asks the U.S. Bankruptcy Court for the
District of Delaware for relief from the automatic stay in the
Chapter 11 case of Boomerang Tube, LLC, with regard to a 2013 Ford
F750 motor vehicle and a 2350 gallon water tank system, or require
Boomerang Tube to make periodic cash payments as adequate
protection.

The Debtor entered into an Installment Sales Contract with Grande
Truck Center for the motor vehicle and the water tank. The Contract
was assigned to Ford Motor Credit Company. Pursuant to the
Contract, the Debtor had the obligation to make monthly payments to
Ford Motor. The Debtor defaulted in its monthly payments and, since
the Petition Date, has not returned the vehicle and the water tank
to Ford Motor.

John R. Weaver, Jr., Esq., at Stark & Stark, APC, in Wilmington,
Delaware, tells the Court that the Debtor has no equity in the
vehicle or the water tank. He relates that the vehicle and the
water tank are subject to depreciation or loss in value through
normal use and that they must be regularly maintained to avoid
additional loss in value from excessive wear and tear. He says that
the Debtor is using the Vehicle and Water Tank to generate income
for its benefit and for the benefit of the unsecured creditors and
to the detriment of Ford Motor.

Ford Motor's Motion is scheduled for hearing on September 21, 2015
at 10:30 a.m. The deadline for filing objections to the Motion is
September 14, 2015.

Ford Motor Credit Company is represented by:

          John R. Weaver, Jr., Esq.
          STARK & STARK, APC
          P.O. Box 510
          203 W. 18th Street
          Wilmington, DE 19899
          Telephone: (302)428-1077
          Facsimile: (302)655-7371
          Email: jrweaverlaw@verizon.net
                         
                   About Boomerang Tube, LLC

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: Wants Lease Decision Deadline Moved to Jan. 4
-------------------------------------------------------------
Boomerang Tube, LLC, a Delaware limited liability company, et al.,
request the United States Bankruptcy Court for the District of
Delaware for an extension of time by which they must decide to
assume or reject unexpired leases of nonresidential real property
through and including January 4, 2016.

Currently, the deadline to assume or reject the unexpired leases
under 11 U.S.C. Section 365(d) is October 7, 2015.

The Debtors argued it is imperative that they be afforded
sufficient time to evaluate the Unexpired Leases. The Debtors
should not be forced, at this stage of the Chapter 11 Cases, to
incur administrative claims or reject what may prove to be valuable
or necessary assets before the Debtors have had a full opportunity
to explore their options with respect to the Unexpired Leases in
the overall context of these Chapter 11 Cases. Given the timeline
anticipated in these cases, the Debtors expect that final decisions
regarding the assumption or rejection of Unexpired Leases will be
made within the 90-day extension period permitted under the
statute. The Debtors, however, may need additional time to evaluate
and assess the value of the Unexpired Leases so that they may
assume or reject the Unexpired Leases in a manner that maximizes
value for the Debtors' estates. To the extent that this additional
time is required, lessors of non-residential real property are not
prejudiced. First, lessors are receiving timely payment of all rent
coming due after the Petition Date, as required by section
365(d)(3) of the Bankruptcy Code. Second, the lessors will not be
damaged by continued occupation of the leased premises during the
proposed extended period.

A hearing on the extension request is set for September 21, 2015 at
10:30 a.m. and the objection deadline is September 11, 2015 at 4:00
p.m.

Boomerang Tube et al. are represented by:

          Robert S. Brady, 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, DE 19801
          Tel: (302) 571-6600
          Fax: (302) 571-1253
          Email: sbeach@ycst.com
                 mgreecher@ycst.com
                 rbartley@ycst.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 has secured approval of its Amended Disclosure
Statement in support of its Joint Prearranged Chapter 11 Plan dated
Aug. 13, 2015.  The hearing to confirm the Plan will commence on
Sept. 21, 2015 at 10:30 a.m. (prevailing Eastern Time).  

The Joint Prearranged Plan reduces the Debtors' funded debt
obligations by converting approximately $214 million in
outstanding
principal of Term Loan Facility obligations into (i) 100% of the
New Holdco Common Stock (subject to dilution for (1) the payment
of
the Exit Term Facility Backstop Fee and the Exit Term Facility
Closing Fee in the aggregate equal to collectively 20% of the New
Holdco Common Stock as of the closing date of the Exit Term
Facility and (2) issuances of equity under a management incentive
plan not to exceed 5% of the total outstanding equity of New
Holdco) and (ii) $55 million of subordinated secured notes issued
by New Opco.  The Plan provides that New Holdco will hold 100% of
the New Opco Common Units.  Holders of Allowed General Unsecured
Claims will receive their pro rata share of the GUC Trust Proceeds
allocated to holders of General Unsecured Claims in accordance
with
the GUC Trust Waterfall.

A copy of the Amended Disclosure Statemet is available at:

                       http://is.gd/DEXT81


BROOKLYN RENAISSANCE: 341 Meeting of Creditors Today
----------------------------------------------------
The meeting of creditors of Brooklyn Renaissance LLC is set to be
held on Sept. 11, 2015, at 3:00 p.m., according to a filing with
the U.S. Bankruptcy Court for the Eastern District of New York.

The meeting will be held at the U.S. Bankruptcy Court, Room 2579,
271-C Cadman Plaza East, in Brooklyn, 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 Brooklyn Renaissance

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


CHARLOTTE SALWASSER: Thomas Armstrong DQ'd as Bankruptcy Counsel
----------------------------------------------------------------
Judge W. Richard Lee of the United States Bankruptcy Court for the
Eastern District of California, Fresno Division, granted in part
and denied in part George James Salwasser's motion to disqualify
Thomas H. Armstrong, Esq., from continuing to represent George's
estranged wife, Charlotte Ellen Salwasser, in her bankruptcy case.

George also sought an order compelling Armstrong to disgorge any
retainer and fees that he has been paid to date in connection with
Charlotte's bankruptcy.

George alleges that he consulted with Armstrong over a period of 15
days regarding the possibility of filing a chapter 11 bankruptcy
for both himself and Charlotte, before Armstrong filed the
bankruptcy for Charlotte.  George further alleges that he provided
Armstrong with confidential information during the course of these
encounters and that Armstrong therefore has a conflict of interest
and is disqualified from representing Charlotte.

Judge Lee found Armstrong to be disqualified From further
representation of Charlotte as the debtor-in-possession, pursuant
to California law, under the "substantial relationship" test.
Judge Lee held that Armstrong's consultations with George and
representation of Charlotte were substantially related, the
"confidentiality" presumption is irrebuttable, and under California
law, disqualification is mandatory.  

Judge Lee denied the request to compel disgorgement of fees paid to
Armstrong.  He held that Armstrong was not a creditor of
Charlotte's, nor was there any other then-apparent circumstance
which would have disqualified Armstrong from employment at the
commencement of the case.  He related that there was no objection
to Armstrong's Employment Application, nor to his subsequent Fee
Application.  Judge Lee said George initially met with Armstrong to
discuss bankruptcy remedies for both himself and Charlotte.  He
further says that George contended that Armstrong was, at one time,
his attorney, but he did not assert any interest adverse to this
estate until much later, when the Motion, his proof of claim, and
subsequently his own bankruptcy were filed.  Judge Lee further held
that Armstrong had a right to rely on the employment order and
there is no evidence that George's prepetition consultations with
Armstrong have adversely affected Armstrong's representation of
Charlotte and the estate, duties for which he was entitled to be
compensated.

The case is In re Charlotte Salwasser, Debtor, Case No.
15-10705-B-11 (Bankr. E.D. Calif.).

A full-text copy of Judge W. Richard Lee's Memorandum Decision
dated Aug. 24, 2015, is available at http://is.gd/lyRgtNfrom
Leagle.com.


COLT DEFENSE: MagPul Industries Steps Down from Creditors' Panel
----------------------------------------------------------------
Andrew Vara, the acting U.S. trustee for Region 3, announced that
Austin-based MagPul Industries Corp. has resigned from Colt Defense
LLC's official committee of unsecured creditors.  

The remaining members of the unsecured creditors' committee are:  

     (1) Wilmington Trust, National Association
         Attn: Geoffrey J. Lewis
         1100 N. Market St.
         Wilmington, DE 19890
         Phone: 302-636-6438
         Fax: 302-636-4145

     (2) Stephen Nyhan & Jeana Walker-Nyhan
         51 Scotch Ln.
         Rochester, NY 14617
         Phone: 585-967-2740

     (3) International Union, UAW
         Attn: Julie Kushner
         111 South Rd.
         Farmington, CT 06032
         Phone: 860-674-0143

     (4) Pension Benefit Guaranty Corp.
         Attn: Kendra Muraya
         1200 K. St.
         NW, Washington, DC 20005
         Phone: 202-326-4000
         Fax: 202-842-6643

                        About Colt Defense

Colt Defense LLC is one of the world's oldest and most iconic
designers, developers, and manufacturers of firearms for military,
law enforcement, personal defense, and recreational purposes and
was founded over 175 years ago by Samuel Colt, who patented the
first commercial successful revolving cylinder firearm in 1836 and
began supplying U.S. and international military customers with
firearms in 1847.  Colt is incorporated in Delaware and
headquartered in West Hartford, Connecticut.

In 1992, Colt Manufacturing Company, then the principal operating
subsidiary, filed chapter 11 petitions in the U.S. Bankruptcy Court
for the District of Connecticut.  An investment by Zilkha & Co.
allowed CMC to confirm a chapter 11 plan and emerge from Bankruptcy
in 1994.

Sometime after 1994, majority ownership of the Company transitioned
from Zilkha & Co. to Sciens Capital Management.

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

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

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

The Debtors tapped Richards, Layton & Finger, P.A., and O'Melveny &
Myers LLP, as attorneys, and Kurtzman Carson Consultants LLC as
claims and noticing agent.  Perella Weinberg Partners L.P. is
acting as financial advisor of the Company, and Mackinac Partners
LLC is acting as its restructuring advisor.

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

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

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

                           *     *     *

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

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


CONCORDIA HEALTHCARE: Moody's Reviews 'B2' CFR for Downgrade
------------------------------------------------------------
Moody's Investors Service placed the ratings of Concordia
Healthcare Corp. under review for downgrade, including the B2
Corporate Family Rating, the B2-PD Probability of Default Rating,
the Ba2 senior secured rating and the B3 senior unsecured rating.
At the same time, Moody's affirmed the SGL-2 Speculative Grade
Liquidity Rating, reflecting good liquidity prior to the
acquisition of Amdipharm Mercury Limited (affiliate of Amdipharm
Mercury Debtco Ltd, rated B3 stable). Moody's will evaluate
Concordia's liquidity based on its post-acquisition financing
structure and the SGL may change as part of its analysis.

The review is prompted by Concordia's announcement that it will
acquire Amdipharm for $3.5 billion in cash, equity, and
performance-based earn-outs. The purchase price also includes the
assumption and repayment of $1.4 billion of Amdipharm's net debt.

In its review, Moody's will consider the significant increase in
leverage and integration risk associated with the rapid roll-up
strategy of both Concordia and Amdipharm. Moody's will also assess
the company's willingness and ability to delever based on the
combined company's growth outlook, free cash generation and
appetite for future acquisitions. Moody's will also consider the
enhanced scale, product diversity and geographic reach that will
come with the acquisition.

Ratings placed on review for downgrade:

Corporate Family Rating at B2

Probability of Default Rating at B2-PD

$125 million senior secured revolving facility expiring 2020 at Ba2
(LGD2)

$575 million senior secured term loan B due 2022 at Ba2 (LGD2)

$735 million senior unsecured notes due 2023 at B3 (LGD5)

Ratings affirmed:

Speculative Grade Liquidity Rating at SGL-2

Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

The B2 Corporate Family Rating (under review for downgrade) of
Concordia reflects its small size and limited operating history,
having only begun operations in May 2013 and having only completed
the $1.2 billion acquisition of the Covis Pharma assets in April
2015. The rating also reflects the high financial leverage incurred
to fund the Covis transaction. Moody's anticipates the company will
continue to actively pursue debt-funded acquisitions, which will
result in the incurrence of incremental debt. Natural volume
declines in Concordia's portfolio of brands and its limited
internal R&D pipeline will require continued acquisitions to
sustain longer-term growth.

The rating is supported by the company's extremely high profit
margins, low cash taxes and low capital expenditures which will
result in high conversion of revenue into free cash flow. The B2
also reflects the relatively stable, albeit declining, revenue and
profit generated by most legacy brand products. These products are
not likely to face sudden declines due to competitive dynamics and
have low risk of market withdrawal due to safety reasons. The
company is reasonably well diversified by product and well
diversified in terms of manufacturing owing to the fact that it
uses a variety of third party suppliers for all of its
manufacturing and supply chain needs.

The principal methodology used in these ratings was Global
Pharmaceutical Industry published in December 2012.

Concordia is a pharmaceutical company focused on legacy products
(i.e., those that have already substantially declined due to
generic competition) and orphan drugs (i.e., those with a small
addressable patient population but high unmet need). Concordia is
publicly listed on the Toronto Stock Exchange and on the NASDAQ. We
estimate annualized revenue of Concordia (prior to the Amdipharm
acquisition) of over $300 million.


CONGREGATION BIRCHOS: Automatic Stay Enforced Against Bais Chinuch
------------------------------------------------------------------
Judge Robert D. Drain of the United States Bankruptcy Court for the
Southern District of New York, granted Congregation Birchos Yosef's
motion to enforce the automatic stay against Bais Chinuch L'Bonois,
Inc., et. al.

After filing the Chapter 11 case, the Debtor commenced an adversary
proceeding against Bais Chinuch, et al., asserting various claims
for fraud, breach of fiduciary duty and looting of the Debtor's
assets.  Bais Chinuch, et al., then invoked a beis din, or Jewish
religious court, specifically Beis Din Mecho L'Hora'ah, which (a)
"invited," or issued a hazmana to, the Debtor's principals, though
not the Debtor itself, to participate in a beis din proceeding
regarding the parties' dispute -- the subject matter of the
adversary proceeding -- and (b), enjoined the Debtor's principals,
through an ekul, from continuing to pursue the adversary proceeding
in the Bankruptcy Court.

The Debtor contends that those who had invoke the beis din and the
issuance of the ekul were violations of the automatic stay.

Judge Drain held that Bais Chinuch, et al.'s invocation of the beis
din proceeding -- and the issuance of the beis din's ekul, or
injunction -- are actually directed at the Debtor through its
principals with the intention of wresting control of the Debtor's
adversary proceeding and exerting pressure to have it dismissed.
Judge Drain further held that because of the principals' identity
of interest here with the Debtor, the automatic stay applies to
protect them from the beis din.  Judge Drain added that that the
purpose of commencing the beis din proceeding and seeking ekul
relief was clearly to control the adversary proceeding, an estate
asset, in contravention of Section 362(a)(3) of the Bankruptcy
Code.

The case is In re: Congregation Birchos Yosef, Chapter 11, Debtor,
Case No. 15-22254 (RDD)(Bankr. S.D.N.Y.).

A full-text copy of Judge Drain's Memorandum of Decision August 24,
2015 is available at http://is.gd/KE796cfrom Leagle.com.

Congregation Birchos Yosef is represented by:

          Douglas J. Pick, Esq.
          PICK & ZABICKI, LLP.
          369 Lexington Avenue, 12th Floor
          New York, NY 10017
          Telephone: (646)561-9365
          Facsimile: (212)695-6007
                
David Rottenberg is represented by:

          Edward Lee Schnitzer, Esq.
          HAHN & HESSEN LLP
          488 Madison Ave. #14
          New York, NY 10022
          Telephone: (212)478-7215
          Email: eschnitzer@hahnhessen.com

Yechiel Laufer is represented by:

          Stephen Wagner, Esq.
          COHEN TAUBER SPIEVACK & WAGNER LLP
          The Graybar Building
          420 Lexington Avenue, Suite 2400
          New York, NY 10170
          Telephone: (212)586-5800
          Facsimile: (212)586-5095
          Email: swagner@ctswlaw.com

Beis Din Mechon L'Hora'ah is represented by:

          Mark, David Graubard, Esq.
          KERA & GRAUBARD
          240 Madison Avenue, 7th Floor
          New York, NY 10016
          Telephone: (212)681-1600
          Facsimile: (212)681-1601
          Email: dgraubard@keragraubard.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.


CRGT INC: Moody's Alters Outlook to Negative & Affirms 'B3' CFR
---------------------------------------------------------------
Moody's Investors Service has changed the rating outlook of CRGT,
Inc. to negative from stable and concurrently affirmed all ratings,
including the B3 Corporate Family Rating. The company's B2
first-lien debt ratings have also been affirmed in anticipation of
a pending facility amendment whereby the bank facility's term loan
and revolver commitment will increase as CRGT merges with Salient
Federal Solutions, Inc.

RATINGS RATIONALE

The Negative rating outlook reflects continuation of CRGT's rapid
growth through business combination with a lack of operating profit
and low operational cash flow since 2011 -- considerations that
increase risk for creditors. Annual revenue declined at both CRGT
and Salient in 2014 and backlog has remained flat through the first
half of 2015. Moody's anticipates CRGT will generate sufficient
cash flow to meet the modest scheduled debt amortization, although
any additional cash flow will depend on success of the planned
business integration and marketing initiatives. CRGT may instead
continue focusing on expansion spending.

The Corporate Family Rating of B3 benefits from a defense services
contracting environment that should begin to stabilize by late
2016, greater agency diversity with Salient that facilitates
breadth of bidding, potential for better amortization of fixed
costs with increased size, and planned expansion of the company's
management team. Even if revenues, pro forma for the merger, do not
materially rise, realization of free cash flow to debt above 5% in
2016 should still be achievable. Moody's anticipates the new
management team will emphasize operational execution, strengthened
administration and financial reporting. Although Salient's revenues
fell in 2014, it has demonstrated better profitability and cash
flow generation than has CRGT, which helps the forward view.

Ratings:

Outlook Actions:

Issuer: CRGT Inc.

Outlook, Changed To Negative From Stable

Affirmations:

Issuer: CRGT Inc.

Probability of Default Rating, Affirmed B3-PD

Corporate Family Rating, Affirmed B3

Senior Secured Bank Credit Facility, Affirmed B2 (LGD3)

All ratings affirmed subject to review of final documentation. At
close of the pending bank facility amendment the revolver
commitment is expected to rise by $5 million and the term loan by
$80 million.

The ratings could be downgraded with expectation of debt to EBITDA
above 7x, revenue contraction, low free cash flow generation, or a
weak covenant cushion. Upward rating momentum would depend on
annual revenues above $400 million, rising backlog, expectation of
debt to EBITDA sustained at 5x or less and funds from operation to
debt above 10%.

CRGT, Inc., headquartered in Reston, Virginia, is a provider of
custom software development, data analytics, and other technology
services to US government customers. The company is majority-owned
by entities of Bridge Growth Partners. Salient Federal Solutions,
Inc. is owned by entities of Frontenac Company. Pro forma for the
pending merger with Salient annual revenues will be about $360
million.

The principal methodology used in these ratings was Global
Aerospace and Defense Industry published in April 2014.


CRGT INC: S&P Revises Outlook to Positive & Affirms 'B-' CCR
------------------------------------------------------------
Standard & Poor's Ratings revised the outlook to positive from
stable and affirmed its 'B-' corporate credit rating on Reston,
Va.-based CRGT Inc.  At the same time, S&P affirmed all ratings on
the company's debt.

U.S. federal government technology services provider CRGT, a
portfolio company of Bridge Growth Partners L.P., has entered into
a definitive agreement to merge with Salient Federal Solutions
Inc., a provider of information technology (IT) and engineering
services, and a portfolio company of Frontenac Co.

"The outlook revision is based on our view of CRGT's improved
financial risk profile, reflecting Standard & Poor's-adjusted pro
forma leverage near the mid-5x area, with the expectation for
leverage to fall below 5x in the next 12 months based on cost
saving initiatives," said Standard & Poor's credit analyst
Sylvester Malapas.

"The outlook revision also reflects our view of CRGT's improved
liquidity position and covenant cushion of more than 20% on the
financial maintenance covenants under the first-lien credit
facilities and mezzanine debt agreements," Mr. Malapas added.



CRP-2 HOLDINGS: Files Amended Schedule F
----------------------------------------
CRP-2 Holdings AA, L.P. filed with the U.S. Bankruptcy Court for
the Northern District of Illinois an amended/supplemented schedule
F - creditors holding unsecured nonpriority claims.  A full-text
copy of the schedule is available for free at http://is.gd/7FIzL9

                      About CRP-2 Holdings

CRP-2 Holdings AA, L.P., a Delaware limited partnership that was
formed in May of 2006 for the primary purpose of acquiring and
managing real property, filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Ill. Case No. 15-24683) on July 21, 2015.  Neil
Waisnor signed the petition as vice president.   FrankGecker LLP
serves as the Debtor's counsel.  The Debtor disclosed total assets
of $171,349,208 and total liabilities of $166,637,095.  Judge
Donald R. Cassling is assigned to the case.

The U.S. Trustee appointed two creditors to serve on the official
committee of unsecured creditors.


CT TECHNOLOGIES: Moody's Affirms 'B2' Corp. Family Rating
---------------------------------------------------------
Moody's Investors Service affirmed CT Technologies Intermediate
Holdings, Inc's. (dba "HealthPort") Corporate Family rating ("CFR")
at B2, Probability of Default rating ("PDR") at B2-PD and senior
secured 1st lien at B2. The rating outlook remains stable.

On September 1, HealthPort acquired Enterprise Consulting
Solutions, Inc ("ECS") for $131 million. ECS sells software based
record retrieval services targeting medical records at small health
clinics and physician offices to commercial health plans. The
acquisition was financed with a loan from affiliates of controlling
financial sponsor New Mountain Capital, LLC and some selling equity
rollover. Healthport will repay the sponsor loan and pay related
fees and expenses with the proceeds of a $117 million incremental
first lien term loan due 2021.

On July 1, HealthPort acquired IOD Incorporated ("IOD"), a
competing provider of outsourced medical information exchange
management services.

Issuer: CT Technologies Intermediate Holdings Inc.

Affirmations:

  Corporate Family Rating, Affirmed B2

  Probability of Default Rating, Affirmed B2-PD

  Senior Secured, Affirmed B2 (LGD3)

Outlook:

  Outlook, Remains Stable

RATINGS RATIONALE

"The all debt financing of the acquisition of a new business
segment leaves Healthport less well positioned at the B2 CFR," said
Edmond DeForest, Moody's Senior Credit Officer.

The B2 CFR reflects Healthport's high financial leverage with debt
to EBITDA above 6 times and merger costs and integration risks
associated with the IOD and ECS acquisitions. The acquisition of
ECS expands HealthPort's medical record retrieval market coverage
to include records held outside of the larger hospitals and clinics
which are its current customers. ECS has experienced high revenue
growth but its customer base is very concentrated. Moody's expects
3% to 5% revenue growth, driven by increased demand for medical
records, and expanded profitability margins through the addition of
ECS's high profit margins and planned cost reduction programs, with
overall EBITA margins of approaching 20% anticipated in 2016. The
ratings are also supported by multi-year customer contracts, high
client renewal rates and anticipated growth in demand for medical
record retrieval services. Reputational and legal risks attendant
in the release of protected health information weigh on the
ratings. Moody's considers liquidity from availability of about $25
million under the $35 million revolver due 2019, at least $10
million of cash and at least $30 million of anticipated free cash
flow (after non-recurring expenses of about $10 million) as
adequate. Significant earn out payments associated with the IOD and
ECS acquisitions and $6 million of required annual term loan
amortization may use all free cash flow.

All financial metrics reflect Moody's standard adjustments.

The stable outlook reflects Moody's expectations for HealthPort's
debt to EBITDA to decline towards 5 times and free cash flow to
debt to grow to 7% over the next 12 to 18 months. The ratings could
be upgraded if HealthPort expands its business scope and revenue
base, maintains stable profit margins and reduces debt such that
Moody's expects debt to EBITDA sustained below 4.5 times. The
ratings could be downgraded if there is lower than expected revenue
growth, EBITA margins do not expand or there are declines in cash
generation as a result of lost customers, pricing pressures or
unfavorable regulatory developments. If Moody's expects free cash
flow to debt below 3% or debt to EBITDA to be sustained above 6
times, lower ratings are possible. Diminished liquidity,
debt-funded acquisitions or shareholder distribution could also
pressure the ratings.

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

HealthPort, controlled by affiliates of financial sponsor New
Mountain Capital, LLC, is the largest provider of outsourced
medical information exchange management services in the United
States. Moody's expects 2016 revenues of about $525 million.


CTLI LLC: Alcede's Bid to Revoke Plan Confirmation Denied
---------------------------------------------------------
Judge Jeff Bohm of the United States Bankruptcy Court for the
Southern District of Texas, Houston Division, denied the Motion to
Revoke Confirmation of Plan filed by Jereme Alcede.

Alcede filed the motion on June 8, 2015.  By that time, the
reorganized debtor CTLI, LLC had paid or otherwise resolved all of
the allowed claims under its plan of reorganization.  The motion,
which was Alcede's second attempt to convince the court that it
should revoke CTLI's plan, alleged that the Confirmation Order was
procured by fraud.

On June 23, 2015, Steven Coe Wilson filed his Response to the
Motion.

After considering the motion and the response, Judge Bohm found
that the motion should be denied in its entirety for four reasons:

(a) the motion is not a valid means of pursuing revocation of a
plan, which must be done by initiating an adversary proceeding;

(b) the motion is res judicata to the earlier motion Alcede filed
challenging the plan;

(c) Alcede's counsel violated the local rules when he filed the
motion without first conferring with opposing counsel, who could
have informed him that the motion would be barred by res judicata;
and

(d) the motion is equitably moot because: (1) no stay of the plan
is in place, (2) the plan has been substantially consummated, and
(3) the relief requested would have a detrimental effect on parties
not currently before the court and on the plan as a whole.

The case is In re: CTLI, LLC, Chapter 11, Debtor, CASE NO. 14-33564
(Bankr. S.D. Tex.).

A full-text copy of Judge Bohm's August 13, 2015 memorandum opinion
is available at http://is.gd/2926ahfrom Leagle.com.


DAIRY PRODUCTION: FCC Equipment Wins in Guaranty Suit
-----------------------------------------------------
Judge Leslie J. Abrams of the United States District Court of the
Middle District of Georgia, Albany Division, granted FCC Equipment
Financing's Motion for Default Judgment in a guaranty suit.

FCC Equipment contends that the Defendant David P. Sumrall, Sr.,
entered into two guaranty agreements, agreeing to secure certain
debts incurred by Dairy Production Services, LLC and New Frontier
Dairy, LLC in the event that either company defaulted on specified
agreements the two companies entered into with Plaintiff.

Dairy Production and New Frontier failed to pay amounts due under
the Master Security Agreements and Schedules, and both corporations
filed for relief under Chapter 11 of the Bankruptcy Code on October
7, 2010. The Liquidating Trustee in the bankruptcy case did not
object to Plaintiff's plan to sell the Collateral, noting that the
Collateral was not the property of the bankruptcy estate. Plaintiff
sold the Collateral and applied the proceeds towards Dairy
Production's and New Frontier's outstanding indebtedness.

Meanwhile, as a result of the Defendant's failure to respond and
the subsequent entry of judgment by the Clerk, Judge Abrams
accepted the allegations contained in the Plaintiff's Complaint and
Supplemental Affidavit, as true. Judge Abrams held that because the
allegations set forth in the Complaint suffice to state
breach-of-guaranty claims under Georgia law, the Defendant is
liable to Plaintiff. Judge Abrams further holds that entry of
default judgment against the Defendant is appropriate, given
Defendant's failure to appear after service of process and the
sufficiency of the well-pleaded factual allegations of the
Complaint.

Judge Abrams found that the Plaintiff is entitled to recover
against the Defendant for breach of guaranty in the amount of
$281,739.09, after the Plaintiff submitted separate affidavits of
Penelope McCullough, Special Accounts representative for Plaintiff,
and of Steven R. Press, counsel of record for Plaintiff; and also
referred the Court to the relevant Master Service Agreements and
Schedules attached to Plaintiff's Complaint, to prove its damages.

The case is FCC EQUIPMENT FINANCING, a division of CATERPILLAR,
FINANCIAL SERVICES CORPORATION Plaintiff, v. DAVID P. SUMRALL, SR.,
Defendant, Case No. 1:15-CV-00044 (LJA).

A full-text copy of Judge Abrams' Order dated August 21, 2015 is
available at http://is.gd/1ntj1gfrom Leagle.com.

FCC Equipment Financing is represented by:

          Ron C. Bingham, II, Esq.
          Steven R. Press, Esq.
          BAKER, DONELSON, BEARMAN
          CALDWELL & BERKOWITZ, PC
          Monarch Plaza          
          3414 Peachtree Road, N.E.
          Suite 1600
          Atlanta, GA 30326
          Telephone: (404)221-6534
          Facsimile: (404)238-9634
          Email: rbingham@bakerdonelson.com
                 spress@bakerdonelson.com



DASEKE INC: Moody's Withdraws B1 Corp. Family Rating
----------------------------------------------------
Moody's Investors Service has withdrawn all ratings of Daseke,
Inc., including the B1 Corporate Family Rating and the B2 rating of
the $250 million term loan that the company planned to arrange.

RATINGS RATIONALE

The rating action follows the decision by Daseke not to proceed
with the planned $250 million term loan but to arrange alternative
financing instead.

Withdrawals:

Issuer: Daseke, Inc.

Corporate Family Rating, Withdrawn, previously rated B1

Probability of Default Rating, Withdrawn, previously rated B1-PD

Senior Secured Bank Credit Facility (Local Currency), Withdrawn,
previously rated B2 (LGD4)

Outlook Actions:

Issuer: Daseke, Inc.

  Outlook, Changed To Rating Withdrawn From Stable

Daseke, Inc., headquartered in Addison, TX, provides specialized,
open-deck transportation and logistics services. Revenues in 2014
were $533 million. Daseke, Inc. is a privately held company with
the majority of the company's common stock held by Daseke's
management.


DCP MIDSTREAM: Fitch Lowers IDR to 'BB+', Outlook Stable
--------------------------------------------------------
Fitch Ratings has downgraded DCP Midstream LLC's Issuer Default
Rating (IDR) and senior unsecured ratings to 'BB+' from 'BBB-'
following the announcement that its owners will contribute $3
billion in equity.  Additionally, Fitch has assigned a senior
secured rating of 'BB+/RR4' to DCP, assigned an 'RR4' to DCP's
senior unsecured rating and downgraded DCP's short-term IDR and
commercial paper rating to 'B' from 'F3' and also withdrawn the
short-term IDR and commercial paper rating.  The Rating Outlook has
been revised to Stable from Negative.

DCP Midstream Partners, LP's (DPM) long-term IDR and senior
unsecured rating have been affirmed at 'BBB-' with a Negative
Outlook.  DPM's short-term IDR has been affirmed at 'F3'.

Fitch believes that the agreement by Spectra Energy (SE; Fitch
rates operating subsidiary Spectra Energy Capital 'BBB'/Negative
Outlook) and Phillips 66 (PSX) to contribute $3 billion in cash and
assets is a positive development for DCP's credit profile.  SE will
contribute $1.5 billion in assets and PSX will contribute $1.5
billion of cash.  However, the downgrade reflects expectations that
even with strong, tangible support from its owners and expected
deleveraging, DCP's commodity price exposure, expected
profitability and credit metrics will remain weak in the near to
intermediate term due to very low commodity prices and processing
margins.  Fitch expects that DCP's debt/EBITDA on a consolidated
basis following the equity injection will be 6.9x for year-end
2015, 5.5x for year-end 2016, and between 4.5x-5.0x for year-end
2017 and beyond; which remain high relative to investment grade
midstream issuers with similar size, scale and commodity price
exposure.  On a deconsolidated basis, DCP's standalone leverage
calculated as DCP debt/DCP EBITDA plus distributions from DPM, is
expected to be high, more than 8.0x for 2015 but improving to below
4.5x in 2017 assuming higher commodity prices.

The affirmation and Negative Outlook for DPM reflects Fitch's
continued expectation for commodity price weakness offset in part
by DPM's strong fixed fee and hedged positions for 2015 and 2016.
DPM remains significantly fixed fee and hedged keeping near term
commodity price exposure low with 90% of gross margin either
fee-based or hedged for 2015 (approximately 60% fixed
fee/approximately 35% hedged) and over 80% of gross margin
fee-based or hedged for 2016 (approximately 65% fixed
fee/approximately 15% hedged).  This provides near-term comfort
around the stability of DPM's earnings and cash flows even in this
lower commodity price environment at least through the end of 2016.


Fitch recognizes that DCP is a counterparty to a portion of DPM's
fixed fee contracts, but believes that DCP, and ultimately SE and
PSX, will remain supportive of DPM's operations and capital
structure.  Cost-of-capital and the ability and willingness of DPM
to fund growth spending with a balance of debt and equity remain
additional concerns for DPM, particularly given the high equity
yields at which it is currently trading.  DPM leverage is expected
to range between 4.0x to 4.5x through 2017 with distribution
coverage at 1.0x.  Fitch would expect to resolve the Negative
Outlook based on DPM's ability to maintain a fixed-fee or hedged
gross margin profile of greater than 70% and leverage below 4.5x on
a sustained basis for 2017 and beyond while maintaining greater
than 1.0x distribution coverage.

KEY RATING DRIVERS

Scale & Scope of Operations: DCP is the largest stand-alone natural
gas processor in the United States, and it has a robust presence in
all of the key production regions within the country. Additionally,
the company's large asset base provides a platform for growth
opportunities across its footprint.  DCP has a particular focus on
the MidContinent, the Rockies and the Permian Basin, all areas in
need of gathering and processing infrastructure as production in
the core regions of these plays remains relatively high and
continues to increase.  DPM benefits from the strategic location of
its midstream assets, which touch several core U.S. natural gas
producing basins and are often integrated with assets owned by DCP,
and the strategic location of DPM's NGL logistics businesses, as
well as DPM's wholesale propane terminals which serve high-volume
retailers in Northeast markets. As such, DPM achieves steady demand
from its core customers as well as good growth opportunities for
organic investments.

Significant Parent Support: The $3 billion equity contribution is
illustrative of the value and support that SE and PSX see in and
provide to DCP, and by extension DPM.  Fitch expects DCP's owners
to continue to provide similar support to DCP going forward
including continuing to forego dividends while DCP remains under
financial pressures stemming from low commodity prices.  Should SE
and PSX no longer express or possess the willingness and ability to
support DCP in times of need Fitch would likely take a negative
ratings action.  On a purely stand-alone basis without parental
support, DCP's IDR would likely be lower rated.

Commodity Price & Volumetric Exposure: DCP does not hedge its
commodity risk directly, though DPM does.  It instead tries to
balance its contract mix to help to reduce exposure to commodity
price volatility while still providing upside should commodity
prices strengthen.  Additionally, DCP and DPM, like every
processor, has volume exposure, however, production in liquids rich
regions continue to be a strong focus for producers and DCP has
seen volume growth even as prices have dramatically declined. DCP's
fixed fee profile has been improving and should improve further as
it adds the 1/3 interest in the Southern Hills and Sand Hills
pipelines, which are fee based assets.  Additionally, DCP has been
marginally successful in increasing fees charged to producers who
use its services and in converting existing price exposed percent
of proceeds (POP) contracts to fixed fee.  A continued increase in
fixed fee type gross margin could lead to a positive ratings action
at DCP and if at DPM the resolution of the Negative Outlook to
Stable.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for DCP and DPM
include:

   -- Equity/asset contribution totalling $3 billion from SE and
      PSX are consistent with management guidance.  Proceeds are
      to be used to repay revolver borrowings.  DCP's October 2015

      $200 million maturity is expected to retired. DPM's $250
      million maturity is expected to be refinanced.

   -- Growth capital at DPM of roughly $500 million annually.
      Growth spending funded roughly 50% debt 50% equity.

   -- Crude Oil trending up from $50/Bbl in 2015 to $60/Bbl for
      2016 and beyond; natural gas prices moving from $2.75MMbtu
      in 2015 $3.00MMBtu in 2016 and $3.25MMbtu in 2017 and NGL
      prices of $0.43/gallon in 2015; $0.45 gallon in 2016;
      $0.50/gallon in 2017 and beyond.

RATING SENSITIVITIES

Negative: Future developments that may, individually or
collectively, lead to negative rating action include:

For DPM

   -- Leverage above 4.5x on a sustained basis and/or distribution

      coverage consistently below 1.0x.

   -- A significant decline in fixed fee or hedged commodity
      exposed earnings to less than 70% fixed/hedged without an
      appropriate, significant adjustment in capital structure,
      specifically a reduction in leverage.

   -- Acceleration of dropdowns that results in significantly
      increased leverage or commodity price exposure at DPM could
      lead to a negative ratings action at DPM.

   -- A significant change in the ownership support structure from

      SE and PSX to DCP Midstream, and from all three to DPM,
      particularly with regard to commodity price exposure,
      distribution policies at DCP and DPM, and capital structure.

   -- Significant volume declines leading to margin and earnings
      pressure.

   -- If DCP's ratings were to move lower Fitch would consider a
      negative ratings action at DPM, however, given the equity
      contribution Fitch does not currently expect a negative
      ratings action on DCP in the normal course of business.

For DCP

   -- If DPM's ratings were to move lower Fitch would consider a
      negative ratings action at DCP given DCP's near term
      reliance on DPM distributions to support operations and
      service debt.  Given the $3 billion equity contribution
      Fitch does not currently expect a negative ratings action on

      DCP.

   -- A significant change in the ownership support structure from

      SE and PSX to DCP Midstream, particularly with regard to
      distribution policies at DCP and DPM, increased commodity
      price exposure, and capital structure.

Positive:

   -- For DPM the exhibited ability to increase the percentage of
      fixed fee or hedged gross margin for 2017 and beyond to
      above 70% while maintaining leverage below 4.5x on a
      sustained basis could lead to an Outlook revision.

   -- For DCP the improvement of standalone DCP LLC leverage to
      between 4.0x to 4.5x on a sustained basis.

LIQUIDITY

Adequate Liquidity: With the planned equity injection both DCP and
DPM are expected to have adequate liquidity.  DPM as of June 30,
2015 had available capacity of $1.149 billion under its $1.25
billion revolver.  Maturities are manageable DPM has a $250 million
note maturing in October 2015 and no additional maturities until
2017.  DPM's revolver has a leverage covenant of a maximum of 5.0x,
with a maximum of 5.5x following an acquisition for up to three
quarters.  The revolver allows for the pro forma inclusion of
EBITDA from acquisitions or ongoing growth projects.  DPM is
currently in compliance with this covenant with covenant leverage
at June 30, 2015 of 3.1x, DPM's revolver matures in May 2019.

Pro forma for the equity contribution and recent asset sales, DCP
is expected to have near full availability under its $1.8 billion
secured credit facility.  DCP's revolver is secured by 100% of the
equity interests in DPM.  All of net cash proceeds from any equity
infusion, asset sales, or debt issuances are required as mandatory
pre-payments on the revolver.  DCP's revolver has a secured
leverage ratio covenant of 3.25x.  Additionally, DCP's revolver has
a consolidated leverage ratio of 5.0x starting in fourth quarter
2015.  Pro forma for the equity contribution, DCP is expected to be
in compliance with this consolidated leverage ratio.  As of June
30, 2015, DCP had $1.4 billion in borrowings outstanding under its
revolver, the revolver matures in March 2017.  DCP has a $200
million note maturing October 2015, but otherwise DCP's maturities
are very manageable with no maturities of debt (excepting the
revolver) until 2019.

FULL LIST OF RATING ACTIONS

Fitch's rating actions for DCP Midstream, LLC are:

   -- Long-term IDR downgraded to 'BB+' from 'BBB-';
   -- Senior unsecured downgraded to 'BB+/RR4' from 'BBB-';
   -- Jr. subordinated downgraded to 'BB-' and assigned a 'RR6'
      recovery rating from 'BB'.
   -- Short-term IDR downgraded to 'B' from 'F3' and withdrawn;
   -- Commercial paper downgraded to 'B' from 'F3' and withdrawn.

Fitch has assigned DCP's $1.8 billion secured credit facility:

   -- Senior secured rating 'BB+/RR4.'

DCP's Rating Outlook is Stable.  The 'RR4' ratings reflect
expectations for average recoveries in a default scenario.  The
'RR6' rating reflects the expectations for lower recoveries in a
default scenario for the junior subordinated notes.

Fitch affirms DCP Midstream Partners, LP:

   -- Long-term IDR at 'BBB-';
   -- Senior unsecured rating at 'BBB-';
   -- Short-term IDR and commercial paper rating at 'F3'.

DPM's Rating Outlook is Negative.



DCP MIDSTREAM: S&P Affirms 'BB' CCR, Outlook Negative
-----------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB'
corporate credit ratings on Denver-based midstream energy company
DCP Midstream LLC (Midstream) and its master limited partnership
DCP Midstream Partners L.P. (Partners).  The outlook remains
negative.

At the same time, S&P affirmed all of its issue-level ratings on
Midstream and Partners.  S&P's recovery ratings on the debt remain
unchanged.

"The negative outlook reflects our view that DCP's consolidated
cash flows continue to remain exposed to weak NGL prices, which
could pressure throughput volumes and result in consolidated debt
to EBITDA that could remain above 5x through 2017," said Standard &
Poor's credit analyst Mike Llanos.

S&P could lower the rating if it expects consolidated leverage to
be above 5x in the long term and if there were no offsetting
actions taken by management or additional support from the
sponsors.  This could result from a further downward revision of
our commodity price forecast or weaker-than-expected throughput
volumes.

S&P could revise the outlook to stable if it expects financial
leverage to remain below 5x for a sustained period of time.  This
could occur from a confluence of factors, including reduced
operating costs, improved commodity prices, and higher throughput
volumes.



DEWEY & LEBOEUF: Former Execs' Attys Give Final Arguments at Trial
------------------------------------------------------------------
Sara Randazzo, writing for The Wall Street Journal, reported that
defense lawyers for former Dewey & LeBoeuf LLP executives made
their final pitches this week to convince jurors that their clients
played no role in an alleged scheme to falsely inflate the
now-defunct law firm's revenue and don't belong in prison.

According to the report, defense lawyers told jurors that the
financial fraud charges Dewey's former leaders face had nothing to
do with why the once-storied law firm collapsed into bankruptcy in
May 2012, instead, they said, it was the mass departures of
"greedy" partners that did in a firm with more than a century of
history.  The remarks came during closing arguments in a trial
against Dewey's former chairman, Steven Davis; its former executive
director, Stephen DiCarmine; and its ex-chief financial officer,
Joel Sanders, the Journal noted.

The jury is expected to begin deliberating next week, with the
trial in New York state court wrapping earlier than expected
because the defense team chose not to call any witnesses, the
Journal said.

                      About Dewey & LeBoeuf

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

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

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

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

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

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

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

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

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

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


DIVERSE ENERGY: Files for Bankruptcy Protection
-----------------------------------------------
Diverse Energy Systems, LLC, and three of its affiliates sought
Chapter 11 bankruptcy protection stating that they do not have
adequate funds to continue operations.

The filing was made in Texas on Sept. 7, 2015, after the Company
defaulted under its credit facility.  The Company's Board of
Directors has determined it is in the best interest of the Company
and its creditors to seek relief under Chapter 11 due to its
inability to secure financing or capital.  

"The Company has been experiencing liquidity issues for several
months," says Chief Financial Officer Todd Hass, in a document
filed together with the petition.  He adds the Company has
diligently sought financing and other capital solutions, however,
it is unable to meet its liquidity needs to continue operating.

SSG Advisors, LLC, has been engaged to assist the Debtor with
restructuring analysis and finding prospective financing sources
and buyers.

Diverse Energy estimated assets in the range of $10 million to $50
million and liabilities of $0 to $50,000.  The Debtors have no
unsecured creditors.

Diverse Energy and its affiliates, providers of products and field
operations services to oil and natural gas markets in the United
States and internationally, filed Chapter 11 petitions (Bankr. S.D.
Tex., Case Nos. 14-34736  to 15-34739) on Sept. 7, 2015.  The
petitions were signed by Todd A. Hass as chief financial officer.

Forshey Prostok LLP represents the Debtors as counsel.

The Debtors are affiliates of ITS Engineered Systems, Inc., which
filed for bankruptcy on April 17, 2015.


DP MARINA: Case Summary & 7 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: DP Marina, LLC
        c/o R. Craig Driver
        P.O. Box 9216
        Chattanooga, TN 37412

Case No.: 15-13935

Chapter 11 Petition Date: September 9, 2015

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Chattanooga)

Judge: Hon. Shelley D. Rucker

Debtor's Counsel: James A. Fields, Esq.
                  SAMPLES, JENNINGS, RAY & CLEM, PLLC
                  130 Jordan Drive
                  Chattanooga, TN 37421
                  Tel: 423-892-2006
                  Fax: 423-892-1919
                  Email: ecfcreditor@sampleslaw.com

Estimated Assets: $50,000 to $100,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Craig R. Driver, sole member.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/tneb15-13935.pdf


DRESSEL ASSOCIATES: Dismissal of Trustee's Complaint Affirmed
-------------------------------------------------------------
Judge Joy Flowers Conti of the United States District Court for the
Western District of Pennsylvania affirmed the decision of the
bankruptcy court dismissing the complaint filed by appellant
Jeffrey J. Sikirica, Chapter 7 Trustee for the debtor Dressel
Associates, Inc., against the appellees Midtown Niki Group, REA
Modesto, LP, and Bashmart, LLC.

On May 1, 2013, the Trustee filed a complaint against the
appellees, alleging that a transfer from the debtor's account to
Midtown amounting to $412,579.00 constituted a fraudulent transfer
made in violation of 11 U.S.C. Section 548(a)(1)(B).  The Trustee
believed that the debtor was entitled to avoid that transfer, and
sought the return of the monies paid to appellees.

In its Memorandum Opinion and Order on November 19, 2014, the
bankruptcy court dismissed the Trustee's complaint with prejudice.
The bankruptcy court referred primarily to the Trustee's failure to
demonstrate, via sufficient evidence, that the debtor was insolvent
at the time the transfer to Midtown was made.

On appeal, Judge Conti found that the undisputed evidence adduced
by the Trustee at trial was insufficient, as a matter of law, to
demonstrate the debtor's insolvency at the time the allegedly
constructively fraudulent transfer was made on July 16, 2010.

The case is IN RE DRESSEL ASSOCIATES, INC., Debtor. JEFFREY J.
SIKIRICA, Chapter 7 Trustee, Appellant, v. MIDTOWN NIKI GROUP, REA
MODESTO, LP, and BASHMART, LLC, Appellees, CIVIL ACTION NO. 14-1736
(W.D. Pa.).

A full-text copy of Judge Conti's August 18, 2015 memorandum
opinion is available at http://is.gd/UFm8gKfrom Leagle.com.

Jeffrey J. Sikirica is represented by:

          Michael Kaminski, Esq.
          BLUMLING & GUSKY, LLP
          436 7th Avenue, 1200 Koppers Building
          Pittsburgh, PA 15219
          Tel: (412) 227-2500
          Email: mkaminski@bglaw-llp.com

Midtown Niki Group, Rea Modesto, LP and Bashmart, LLC are
represented by:

          Michael Weitz, Esq.
          BLANCHARD, KRASNER & FRENCH
          800 Silverado Street, Second Floor
          La Jolla, CA 92037
          Tel: (858) 551-2440
          Fax: (858) 551-2434
          Email: mweitz@bkflaw.com

            -- and --

          Ronald B. Roteman, Esq.
          STONECHIPHER LAW FIRM
          125 First Ave.
          Pittsburgh, PA 15222-1590
          Tel: (412) 391-8510
          Fax: (412) 391-8522
          Email: rroteman@stonecipherlaw.com


DYNAMIC DRYWALL: Claims Against Former Counsel Dismissed
--------------------------------------------------------
Judge Robert E. Nugent of the United States Bankruptcy Court for
the District of Kansas dismissed as moot Dynamic Drywall, Inc.'s
second claim for relief against Stinson Leonard Street LLP as
alleged in its amended complaint.

Judge Nugent also dismissed DDI's third claim for relief against
SLS without prejudice on the basis of the ripeness doctrine.  No
other claims against SLS remained in the adversary proceeding
captioned DYNAMIC DRYWALL, INC., Plaintiff, v. HARTFORD FIRE
INSURANCE COMPANY and STINSON LEONARD STREET LLP, Defendants, ADV.
NO. 15-5016 (Bankr. D. Kan.).

The bankruptcy case is IN RE: DYNAMIC DRYWALL, INC., Chapter 11,
Debtor, CASE NO. 14-11131 (Bankr. D. Kan.).

A full-text copy of Judge Nugent's August 14, 2015 partial judgment
is available at http://is.gd/8gcVv4from Leagle.com.  

                   About Dynamic Drywall

Dynamic Drywall Inc., based in Wichita, Kansas, filed for Chapter
11 bankruptcy (Bankr. D. Kan. Case No. 14-11131) on May 21, 2014.
Judge Robert E. Nugent presides over the case.  Mark J. Lazzo,
P.A., serves as the Debtor's counsel.  In its petition, Dynamic
Drywall estimated $1 million to $10 million in assets and $0 to
$50,000 in liabilities.  The petition was signed by Randall G.
Salyer, president.


DYNAMIC DRYWALL: Former Atty's Bid to Dismiss Suit Granted
----------------------------------------------------------
Judge Robert E. Nugent of the United States Bankruptcy Court for
the District of Kansas granted Stinson Leonard Street's the motion
to dismiss an adversary proceeding filed by Dynamic Drywall, Inc.

An adversary proceeding was filed by DDI against Hartford
Insurance, Inc., and SLS, its former counsel, asserting a breach of
contract claim against the former and seeking a declaration that
the latter is not entitled to an attorney's fee lien against the
Hartford contract claim.

After SLS answered and waived its fees, thus mooting the second
claim for relief on the attorney's fees, DDI amended its complaint
saying that SLS breached its fiduciary duty to plaintiff by failing
to segregate fees it billed for work on the Hartford litigation
from fees it billed for other matters.  DDI asserted that if the
court finds that Hartford did breach the contract, but that DDI
can't recover because the fees weren't segregated, SLS should be
liable for whatever DDI is unable to recover from Hartford due to
the billing error.

Judge Nugent held that DDI's claim is not ripe for adjudication
because it rests on future contingencies that may never come to
pass.  The judge explained that there is no claim against SLS
unless and until Hartford is found liable for fees, is required to
pay DDI, and it resists making that payment because it cannot
determine which fees are related to the DDI-BCE subcontract
dispute.  Judge Nugent also held that DDI's failed to state a
plausible claim against SLS and that his court lacks subject matter
jurisdiction.

The adversary proceeding is DYNAMIC DRYWALL, INC., Plaintiff, v.
HARTFORD FIRE INSURANCE COMPANY and STINSON LEONARD STREET LLP,
Defendants, ADV. NO. 15-5016 (Bankr. D. Kan.).

The bankruptcy case is IN RE: DYNAMIC DRYWALL, INC., Chapter 11,
Debtor, CASE NO. 14-11131 (Bankr. D. Kan.).

A full-text copy of Judge Nugent's August 14, 2015 order is
available at http://is.gd/wm5sgkfrom Leagle.com.  

                    About Dynamic Drywall

Dynamic Drywall Inc., based in Wichita, Kansas, filed for Chapter
11 bankruptcy (Bankr. D. Kan. Case No. 14-11131) on May 21, 2014.
Judge Robert E. Nugent presides over the case.  Mark J. Lazzo,
P.A., serves as the Debtor's counsel.  In its petition, Dynamic
Drywall estimated $1 million to $10 million in assets and $0 to
$50,000 in liabilities.  The petition was signed by Randall G.
Salyer, president.


EQUINIX INC: Moody's Affirms 'Ba3' CFR, Outlook Stable
------------------------------------------------------
Moody's Investors Service has affirmed the Ba3 corporate family
rating (CFR) for Equinix Inc. following the announcement that it
plans to acquire Japanese data center provider Bit-isle Inc.
("Bit-isle") for an enterprise value of JPY52.4 billion (US$426
million). Due to the company's persistent annual cash flow deficit
resulting from its high dividend payout, Moody's has lowered
Equinix's speculative grade liquidity rating to SGL-3 from SGL-2.
Moody's anticipates that the company will rely heavily upon its
revolving credit facility to finance its annual cash flow deficit,
resulting in adequate liquidity for the next 12-18 months. As part
of this rating action, Moody's has also affirmed the company's
Ba3-PD probability of default rating (PDR) and the B1 rating on the
company's senior unsecured notes.

Moody's expects Equinix to finance the all-cash transaction
primarily with debt, which will further stress Equinix's credit
metrics. The offer for Bit-isle comes in the wake of Equinix's $4.2
billion acquisition (50% debt financed) of UK provider Telecity
from May of this year. The still-pending Telecity deal and this
additional debt financed transaction will eliminate any flexibility
within the current rating, but the relatively small size of the
Bit-isle acquisition will not materially change the company's
credit profile. The outlook remains stable.

Affirmations:

Issuer: Equinix, Inc.

Corporate Family Rating, Affirmed Ba3

Probability of Default Rating, Affirmed Ba3-PD

Speculative Grade Liquidity Rating, Lowered to SGL-3 from SGL-2

Multiple Seniority Shelf (Local Currency) due 2017, Affirmed
(P)B1

Senior Unsecured Regular Bond/Debenture (Local Currency),
Affirmed B1, LGD4

Outlook Actions:

Outlook, Remains Stable

RATINGS RATIONALE

The acquisitions of Telecity and Bit-isle will bolster Equinix's
non-US platform and add scale to its European and Japanese markets.
The additional assets and customer relationships will offer revenue
growth opportunities across the Equinix platform globally. The
acquisitions, especially the Telecity deal, will also improve
Equinix's competitive position, further distancing it from smaller
rivals. However, Equinix's capital allocation framework remains
aggressive as the company pursues a dual strategy of high growth
and generous dividends, which result in persistent annual cash flow
deficits. Despite its strong qualitative factors, including its
market and competitive position and growth potential, the company's
credit metrics are weak relative to the Ba3 rating. Moody's
believes that Equinix's combination of high capital intensity, high
dividends and acquisitions of businesses at high EV multiples are
challenges it must overcome in order to achieve meaningful leverage
reduction.

Equinix's Ba3 Corporate Family Rating reflects its position as the
leading global independent data center operator offering
carrier-neutral data center and interconnection services to large
enterprises, content distributors and global Internet companies.
The rating also incorporates the company's stable base of
contracted recurring revenues, its strategic real estate holdings
in key communications hubs and the favorable near-term growth
trends for data center services across the world. These positive
factors are offset by significant industry risks, intensifying
competition and relatively high capital intensity. The rating also
reflects Moody's concerns that the company's cash flow profile will
remain under pressure due to the high dividend associated with its
REIT structure such that it will need to raise additional debt to
finance its dividend and capital investment.

The ratings could be lowered if liquidity were to become strained,
if industry pricing were to deteriorate due to competitive pressure
or if leverage remains above 5x (Moody's adjusted) for an extended
timeframe. Also, the Ba3 rating cannot accommodate any further debt
financed M&A activity or additional shareholder returns. Moody's
could raise Equinix' ratings if the company is on track to generate
consistent positive free cash flow and leverage can be sustained
below 4x.

The principal methodology used in these ratings was Global
Communications Infrastructure Rating Methodology published in June
2011.


F-SQUARED INVESTMENT: Katz Nannis Hired as Outside Accountants
--------------------------------------------------------------
F-Squared Investment Management LLC and its debtor-affiliates ask
the U.S. Bankruptcy Court for the District of Delaware for
permission to employ Katz, Nannis + Solomon, P.C., as their outside
accountants.

A hearing is set for Sept. 22, 2015 at 10:00 a.m. (ET) to consider
the Debtors' request.  Objections, if any, are due Sept. 15, 2015
at 4:00 p.m. (ET).

The Debtors propose to retain KNS as outside accountants on the
terms and conditions set forth in the engagement agreements.  KNS
will perform an audit of the financial statements of the FSquared
Investments 401(k) Plan, in accordance with the generally-accepted
auditing standards, for the year ending Dec. 31, 2015.  The Debtors
say the objective of this audit is to provide a statement of the
net assets available for plan benefits for the Plan as of December
31, 2015 and the related statement of changes in net assets
available for plan benefits for the Plan for the year of 2015.  The
Debtors not they must include these statements in the plan's
required annual filing with the EBSA.  Additionally, KNS will
prepare the Debtors' tax year 2015 tax returns and provide
supplementary consulting services related to the tax consequences
of the Sale and different exit strategies with respect to the
Chapter 11 Cases.

The Debtors further say they have not retained any other accounting
firms.  Therefore, the Debtors intend and believe that the services
of KNS will not duplicate the services rendered by the other
professionals retained in the Chapter 11 Cases. KNS understands
that the Debtors have retained, and may retain, additional
professional services during the term of KNS's engagement, and KNS
agrees to work cooperatively with such professionals to avoid the
unnecessary duplication of services.

The Debtors tell the Court that they have agreed to pay KNS a fixed
fee of $9,000 for the audit of the plan's financial statements and
supplementary information.  Subject to Court approval, pursuant to
the Tax-Related Engagement Agreement, the Debtors have agreed to
pay KNS a fixed fee of $22,500 for the preparation of F-Squared
Investments, Inc.'s tax return and a fixed fee of $35,000 in total
for the preparation of the all of the other Debtors' tax returns.
In addition, the Debtors have agreed to pay KNS in accordance with
KNS's standard hourly billing rates, as set forth below, for
services related but supplemental to the preparation of the
Debtors' tax returns.  The current standard hourly billing rates
are as follows:

   Partner          $350
   Principle        $220-$325
   Manager          $175-$290
   Supervisor       $110
   Semi             $90-$110
   Staff            $85-$95

The Debtors assure the Court that the firm is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

                     About F-Squared Investment

Headquartered in Wellesley, MA, F-Squared Investments, Inc. --
http://www.f-squaredinvestments.com-- is a privately owned    
investment manager.  The firm primarily provides its services to
other investment advisers.  It also caters to individuals, high net
worth individuals, and pension and profit sharing plans.  The firm
provides index management services.  It manages separate
client-focused equity, fixed income, and multi-asset portfolios.
The firm invests in the public equity, fixed income, and
alternative investment markets across the globe.  It makes all its
investments through exchange-traded funds.  The firm invests in
small-cap stocks of companies across diversified sectors.

F-Squared Investment Management, LLC and eight of its affiliates
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No.
15-11469) on July 8, 2015.  The petition was signed by Laura Dagan
as president and chief executive officer.  The cases are assigned
to Laurie Selber Silverstein.

Richards, Layton & Finger, P.A. serves as the Debtors' counsel.
Gennari Aronson, LLP represents the Debtors as special corporate
counsel.  Grail Advisory Partners LLC (d/b/a PL Advisors) and
Managed Account Services, LLC act as the Debtors' financial
advisors and investment bankers.  Stillwater Advisory Group LLC is
the Debtors' crisis managers and restructuring advisors.  BMC
Group, Inc. acts as the Debtors' claims and noticing agent.


FIRST EVANGELIST: Case Summary & 9 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: First Evangelist Housing And Community
        2826 Martin Luther King Blvd.
        New Orleans, LA 70113

Case No.: 15-12317  

Chapter 11 Petition Date: September 9, 2015

Court: United States Bankruptcy Court
       Eastern District of Louisiana (New Orleans)

Judge: Hon. Elizabeth W. Magner

Debtor's Counsel: Darryl T. Landwehr, Esq.
                  1010 Common Street, Suite 1710
                  New Orleans, LA 70112
                  Tel: (504) 561-8086
                  Fax: (504) 561-8089
                  Email: dtlandwehr@cox.net

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Marion Taylor, director.

A list of the Debtor's nine largest unsecured creditors is
available for free at http://bankrupt.com/misc/laeb15-12317.pdf


FRONTIER COMMUICATIONS: Moody's Rates New Sr. Unsec. Notes 'Ba3'
----------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to Frontier
Communications Corporation's new senior unsecured notes. The
proceeds from the $6.6 billion offering will be used to complete
the financing for Frontier's purchase of Verizon Communications,
Inc.'s local wireline assets in the states of Florida, Texas, and
California.

Ratings Assigned:

Issuer: Frontier Communications Corporation

  Senior Unsecured Notes, Assigned Ba3, LGD4

RATINGS RATIONALE

Frontier's Ba3 CFR reflects its large scale of operations, its
strong and predictable cash flows and high margins. Following the
acquisition of Verizon's assets in Florida, Texas and California,
Frontier will dramatically improve its scale and acquire valuable
assets that are strongly positioned versus the incumbent cable
competitors. These factors are offset by the company's challenged
competitive position versus cable operators in its legacy Frontier
territories, its weak revenue trend and the possibility that the
company may not have the discipline to continue to adequately
invest in network modernization.

Moody's projects Frontier's leverage to be around 4.1x (Moody's
adjusted) at year end 2017 before falling further in 2018 due to
expected debt repayment and synergy realization. Moody's
anticipates approximately $2.75 billion of the $10 billion purchase
price of these assets to be funded with previously raised equity
capital, $1.5 billion funded with the new senior secured term loan
A and the remaining $6.6 billion to be funded with the unsecured
notes offering announced today.

The acquisitions will double Frontier's size to over $11 billion in
revenues, adding nearly 6.1 million additional households and about
2.2 million additional broadband connections. Moody's expects
Frontier's consolidated revenue over the next several years to
remain approximately flat as the growth within the acquired Verizon
wireline properties offsets the low single digit percentage decline
at the legacy Frontier business. The Verizon acquisition is
positive to Frontier's cash flow profile given the high margins of
the acquired wireline business and the high penetration of FiOS
within the footprint resulting in favorable capital intensity.

The ratings for the debt instruments reflect both the probability
of default of Frontier, on which Moody's maintains a PDR of Ba3-PD,
and individual loss given default assessments. The senior secured
term loan is rated Ba2 (LGD3), one notch above the company's Ba3
CFR due to its pledge of stock of Frontier North, Inc. Moody's
rates Frontier's senior unsecured debt at Ba3 (LGD4), in line with
the CFR as the unsecured debt continues to represent the vast
majority of the company's debt obligations.

The stable outlook is based upon Moody's view that Frontier will
successfully integrate the acquired assets, maintain stable margins
and produce free cash flow after dividends of about 2-3% of total
debt. The outlook also assumes that Frontier will repay debt at
maturity with operating cash flows for the next two to three
years.

Moody's could raise Frontier's ratings if leverage were to be
sustained comfortably below 3.75x (Moody's adjusted) and free cash
flow to debt were in the mid-single digits percentage range.
Moody's could lower Frontier's ratings if leverage were to exceed
4.25x (Moody's adjusted) or free cash flow turns negative, on a
sustained basis. Also, the ratings could be lowered if the
company's liquidity becomes strained or if capital spending is
reduced below the level required to sustain the company's market
position.

The principal methodology used in these ratings was Global
Telecommunications Industry published in December 2010.

Frontier Communications Corporation is an Incumbent Local Exchange
Carrier ("ILEC") headquartered in Norwalk, CT. For the last twelve
month ended June 30, 2015, the company generated approximately $5.2
billion of revenue.


FRONTIER COMMUNICATIONS: S&P Rates $6.6BB Sr. Unsec. Notes 'BB-'
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' issue-level
rating and '3' recovery rating to Frontier Communications Corp.'s
proposed $6.6 billion in aggregate senior unsecured notes with
expected five, seven, and 10-year maturities.  Frontier will use
net proceeds to fund the acquisition of wireline assets in
California, Texas, and Florida from Verizon Communications for
about $10.5 billion, which S&P expects to close in the first
quarter of 2016.  The '3' recovery rating indicates S&P's
expectation for meaningful (50%-70%; lower end of the range)
recovery in the event of payment default.

In June 2015, Frontier completed the equity portion of its
financing plan for the Verizon properties with a $2.75 billion
dual-tranche equity offering and in August issued a new $1.5
billion senior secured delayed-draw term loan facility.  The
announcement this morning of the $6.6 billion unsecured notes
completes Frontier's financing of the acquisition.  S&P expects the
company's adjusted net leverage, pro forma for the acquisition
financing, to be in the low-4x area and funds from operations to
debt to be about 12%-14% in 2016.

S&P's 'BB-' corporate rating on Frontier remains unchanged.

RATINGS LIST

Frontier Communications Corp.
Corporate Credit Rating             BB-/Stable/--

New Rating

Frontier Communications Corp.
$6.6 bil. notes
Senior Unsecured                    BB-
  Recovery Rating                    3L



GREAT LAKES AVIATION: Hires Stan Gadek as CFO & VP
--------------------------------------------------
Stephanie Gleason, writing for Dow Jones' Daily Bankruptcy Review,
reported that nine months after Great Lakes Aviation Ltd. dodged
bankruptcy by securing $34 million in new financing, the regional
airline has named a turnaround expert as chief financial officer.

According to the report, Great Lakes Aviation on Sept. 9 said it
has hired Stan Gadek to serve as vice president and chief financial
officer.  Mr. Gadek was at the helm of another troubled airline,
Sun Country Airlines, when that company, embroiled in a Ponzi
scheme created by then-owner Tom Petters, filed for bankruptcy, the
report related.

Great Lakes Aviation, Ltd., provides scheduled air service to its
hubs under the Great Lakes brand.  The Cheyenne, Wyoming-based
Company provides passenger service to 30 airports in nine states
in the U.S. effective April 1, 2014.


GRETTER AUTOLAND: Bids to Assign Ford & GM Dealerships Denied
-------------------------------------------------------------
Judge Anita L. Shodeen of the United States Bankruptcy Court for
the Southern District of Iowa denied Gretter Autoland, Inc.'s
motions to assume and assign its dealership agreements with Ford
Motor Company and GM Motors, LLC.

Gretter wanted to sell its dealerships as going concerns in
bankruptcy.  When Edwards Auto Plaza, Inc. submitted its proposal
to purchase the assets of the dealerships, Gretter filed a Motion
to Sell Free and Clear pursuant to 11 U.S.C. Section 363(f).  Ford
and GM objected on the grounds that their franchise agreements
could not be transferred under the proposed Amended Asset Purchase
Agreement ("APA").  The court sustained the objections and Gretter
was directed to follow the procedure under 11 U.S.C. Section 365
for the assumption and assignment of the contracts.  An auction was
also ordered for the sale of Gretter's assets and Edwards' bid was
approved under the terms of the APA.  Gretter then sought to assume
and assign the contracts identified in the APA so that the sale
transaction can be concluded.

Both Ford and GM asserted that Gretter has failed to comply with
numerous terms of the franchise agreements which prevents
assumption of their respective contracts under 11 U.S.C. Section
365(b)(1)(A) unless these defaults are cured.

Judge Shodeen sustained Ford's and GM's objections.  The judge
found that Gretter has failed to meet the conditions of 11 U.S.C.
Section 365(b)(1) to obtain approval of the assumption of the Ford
and GM franchise agreements.  Judge Shodeen also found that neither
has Gretter demonstrated adequate assurance of future performance
of the terms of the executory contracts that Gretter is requesting
to be assumed and assigned.

The case is In the Matter of Jointly Administered: Gretter
Autoland, Inc., Debtor(s). Gretter Ford Mercury, Inc., Debtor(s).
Gretter Chevrolet Company, Debtor(s), CASE NOS. 14-02831-ALS11,
14-02832-ALS11, 14-02833-ALS11 (Bankr. S.D. Iowa).

A full-text copy of Judge Shodeen's August 17, 2015 memorandum
opinion is available at http://is.gd/R8YAznfrom Leagle.com.


HAGGEN HOLDINGS: Seeks to Obtain $215-Mil. DIP Financing
--------------------------------------------------------
Haggen Holdings, LLC, et al., seek authorization from the U.S.
Bankruptcy Court for the District of Delaware to obtain
postpetition financing of up to $215 million from PNC Bank,
National Association, in its capacity as agent.  The Debtors also
seek authority to use cash collateral of prepetition secured
parties.

The DIP Loan accrues interest at Alternate Base Rate + 3.00%.  In
the event of default, the DIP Loan will accrue interest at Base
Interest Rate + 2.00%.

The DIP Facility will automatically terminate without further
notice or court proceedings on the earliest of: (a) Feb. 5, 2016;
(b) the effective date or substantial consummation of a
Reorganization Plan that has been confirmed by an order of the
Bankruptcy Court; (c) the closing of the Approved Core Stores Sale;
(d) the date of the conversion of the Case to a case under Chapter
7 of the Bankruptcy Code; (e) the date of the dismissal of the
Case; and (f) the 22nd day after the Petition Date if the Final
Order has not been entered as of that date, unless extended, as to
the DIP Facility, with the prior written consent of the DIP Agent
and DIP Lenders.

The Debtors' historical operations are comprised of 17 grocery
stores operated by Haggen, Inc.  These stores are profitable,
earning approximately $25 million in annual EBITDA, and enjoy a
strong brand reputation in the Pacific Northwest.  The Debtors
believe that the stores operated by Haggen, augmented by some of
the Debtors recently acquired stores, will ultimately form a set of
successful core stores that is among their most valuable assets.
The Debtors intend to reorganize around, or sell as a going
concern, the Core Stores for the benefit of their creditors.
According to the Debtors, the proposed DIP Facility will give the
Debtor Loan Parties the liquidity necessary to achieve such a
value-maximizing transaction.

Lenders to Haggen Holdings, LLC, Haggen Opco South, LLC and Haggen
Opco North, LLC, have offered the Debtor Loan Parties a
postpetition credit facility that will provide the Debtor Loan
Parties with the needed liquidity to identify and document certain
value-maximizing transactions.  Those transactions include, among
others, sales of portions of the Debtor Loan Parties' prescription
business and sales of a group or groups of their non-Core Stores to
competitors.  If the Debtor Loan Parties are able to execute on
those Identified Transactions, the DIP Facility will provide
additional liquidity to allow the Debtor Loan Parties to consummate
the Identified Transactions.  Additionally, the DIP Facility will
provide the Debtor Loan Parties with sufficient liquidity to
maximize the value of their remaining assets.

                      Prepetition Indebtedness

On Feb. 12, 2015, the Pre-Petition Borrowers entered into a
financing arrangement with PNC Bank, National Association, as agent
and the lenders thereunder under which Prepetition Lenders provided
a revolving line of credit facility to finance the Debtor Loan
Parties' operations.  The terms and conditions of the Credit
Facility are in part evidenced by a Revolving Credit and Security
Agreement pursuant to which the Pre-Petition Lenders agreed to
provide the Borrowers a revolving line of credit facility in the
amount of $180,000,000 (which included a "Swing Loan" subfacility
of up to $20,000,000).  In connection with the Credit Facility, the
Pre-Petition Borrowers executed two notes, both dated Feb. 12,
2015, in the original principal amounts of $180,000,000 and
$20,000,000.  As of Sept. 7, 2015, the outstanding balance on the
Revolving Note was approximately $154,067,263 and the outstanding
balance on the Swing Loan Note was $0, plus undrawn letters of
credit in the approximate amount of $10,100,000, plus all accrued
and unpaid interest, fees and costs and expenses.

The PNC Obligations and all other amounts owed under the Credit
Facility are secured by a first-position security interest in
substantially all of the Pre-Petition Borrowers' personal property,
assets, including accounts receivable, equipment and fixtures,
general intangibles, inventory, deposit accounts, contract rights
and other rights to payment, and the proceeds and products thereof.
Additionally, on Feb. 12, 2015, the Pre-Petition Borrowers
executed an intellectual property security agreement pursuant to
which they granted to the Pre-Petition Agent a security interest in
certain trademarks to secure their obligations under the Credit
Facility.

On Feb. 12, 2015, Operations Holdings and Acquisition Holdings (the
"PNC Guarantors") executed a guaranty and suretyship agreement
pursuant to which the PNC Guarantors guaranteed the payment and
performance of all obligations of the Pre-Petition Borrowers to the
Pre-Petition Lenders under the Credit Facility.  To secure their
obligations under the PNC Guaranty, the PNC Guarantors executed a
guarantor security agreement, dated Feb. 12, 2015, in favor of the
Pre-Petition Agent pursuant to which they granted to the
Pre-Petition Agent a security interest in substantially all of
their personal property.  In addition, Operations Holdings also
executed a collateral pledge agreement in favor of the Pre-Petition
Agent in which it pledged its equity interests in Haggen North,
Haggen South and Acquisition Holdings to secure its guaranty
obligations.  Acquisition Holdings also executed a collateral
pledge agreement in favor of the Pre-Petition Agent in which it
pledged its equity interests in Haggen to secure its guaranty
obligations.

On Aug. 21, 2015, the Pre-Petition Borrowers entered into a
subordinated loan agreement with Haggen Property North, LLC and
Haggen Property South, LLC pursuant to which the Pre-Petition
Borrowers obtained a subordinated loan in the original principal
amount of $25,000,000.  The obligations owed by the Pre-Petition
Borrowers to the Propco Lenders under the Subordinated Loan
Agreement are secured by a subordinated second lien on the
Pre-Petition Borrowers' personal property, subject to the
Intercreditor Agreement.

As of the Petition Date, the amount of the obligations owed by the
Pre-Petition Borrowers under the Subordinated Loan Agreement is
$25,000,000.

The Pre-Petition Borrowers, the Pre-Petition Agent and the Propco
Lenders are parties to that certain intercreditor agreement dated
as of Aug. 21, 2015, which governs the respective rights,
obligations and priorities of the Pre-Petition Loan Parties and
Propco Lenders with respect to the matters referred to therein. The
liens and security interests granted to the Propco Lenders in the
PNC Prepetition Collateral are governed by and subject to the
Intercreditor Agreement and are junior to the liens and security
interests granted to the Pre-Petition Loan Parties.

In addition, the PNC Obligations are also supported and secured by
certain limited guarantees and liens on certain assets given by
certain non-Debtor affiliates of the Debtor Loan Parties.

                     Immediate Need for Cash

The Debtor Loan Parties tell the Court they do not have sufficient
available sources of working capital to operate their businesses in
the ordinary course without the Post-Petition Financing and the
ability to use Cash Collateral.  The Debtor Loan Parties said their
ability to maintain business relationships with their vendors,
suppliers, landlords and customers, to pay their employees and to
otherwise fund their operations is essential to their continued
viability.  

"Without adequate post-petition financing and continued access to
Cash Collateral, the Debtor Loan Parties will be unable to
administer their Chapter 11 Cases, which would significantly impair
their ability to preserve the value of their estates.  The DIP
Facility ensures that the Debtor Loan Parties have continued access
to Cash Collateral and capital to fund these cases. Additionally,
the terms of the DIP Facility are fair, reasonable and adequate
given the facts and circumstances," according to Robert F. Poppiti,
Jr., Esq., at Young Conaway Stargatt & Taylor, LLP, counsel to the
Debtors.

A copy of the Credit Agreement is available for free at:

             http://bankrupt.com/misc/13_HAGGEN_DIP.pdf

                           About Haggen

Haggen Holdings, LLC, and its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del., Case Nos. 15-11874 to
15-11879) on Sept. 8, 2015.  The petitions were signed by Blake
Barnett as chief financial officer.

Young, Conaway, Stargatt & Taylor, LLP, is serving as the Debtors'
local counsel.  Stroock & Stroock & Lavan LLP serves as the
Debtors' general counsel.  Alvarez & Marsal North America, LLC,
acts as the Debtors' financial advisor.  Kurtzman Carson
Consultants LLC serves as the Debtors' claims and noticing agent.

The Debtors have estimated assets of $50 million to $100 million
and estimated liabilities of $10 million to $50 million.


HAGGEN HOLDINGS: Wants to Continue Store Closings with Hilco
------------------------------------------------------------
Haggen Holdings, LLC, and its debtor affiliates seek authority from
the U.S. Bankruptcy Court for the District of Delaware to assume a
letter agreement governing inventory disposition by and between
each of the Operating Debtors and Hilco Merchant Resources, LLC, as
agent.

The Debtors maintain that assumption of the Agreement and the
continuation of the Store Closing Sales at their current momentum
will present tremendous cost savings that will certainly inure to
the benefit of the Operating Debtors' estates and all
stakeholders.

"If the Store Closing Sales are not permitted to go forward on an
interim basis, and the Agreement is not ultimately assumed, the
Operating Debtors' estates would lose the benefit of the efforts
that have already been expended by the Agent in commencing the
Store Closing Sales," says Robert F. Poppiti, Jr., Esq. at Young
Conaway Stargatt & Taylor, LLP, counsel to the Debtors.  "Any delay
in conducting the Store Closing Sales would result in loss of value
achieved and increased administrative expenses.  The administrative
expenses associated with maintaining such Closing Stores in
operation amounts to approximately $5.2 million per month."

Prior to the Petition Date, Haggen owned and operated 164 grocery
stores through three operating companies: Haggen, Inc., Haggen Opco
North, LLC, and Haggen Opco South, LLC.

Pursuant to an asset purchase agreement between the Haggen
Holdings, LLC and Albertson's LLC, Haggen purchased 146 of its
stores in December 2014 and hired 8,300 employees in connection
therewith.  Following the purchase, Haggen operated stores across
five states, with Haggen, Inc. operating 18 stores located in
Washington and Oregon, Haggen North operating 46 stores located in
Washington and Oregon, and Haggen South operating 100 stores
located in Arizona, California and Nevada.

                   Proposed Store Closing Sales

The Debtors experienced an unanticipated drop off in sales, and
continued to experience negative store-level operating results, at
stores operated by Haggen North and Haggen South .

In light of the Debtors' financial difficulties, prior to the
Petition Date, the Debtors' management, in consultation with their
advisors, including Alvarez & Marsal, performed a comprehensive
analysis of the Debtors' financial performance, which included an
in-depth review of the performance of each store and the market in
which the Debtors operate.

As a result of those financial analysis, the Debtors identified two
categories of stores: (a) "non-core" stores, which are losing money
and are located in non-strategic locations and, thus, provide
limited benefit to the Debtors, and (b) "core" stores, which are
relatively successful and located in strategic locations.  The
Debtors concluded that it was in the best interests of the Debtors
and their stakeholders to restructure around its core stores, and
to maximize the value of its non-core stores through sale or other
disposition.

Accordingly, in August, 2015, the Debtors and their advisors began
contacting certain nationally-recognized potential liquidators to
solicit interest in bidding on the right to conduct the Store
Closing Sales.  The Debtors discussed the Store Closing Sales with
such nationally-recognized liquidator firms, and the Debtors'
advisors solicited both equity and fee-based bids, to allow them to
identify the highest and best bid.  The Debtors engaged extensively
with the potential bidders and, among other things, provided
significant data on the stores included in the Store Closing
Sales.

After extensive negotiations, with the assistance of A&M, the
Debtors have selected the Agent to conduct the Store Closing Sales,
and have determined to close and liquidate the merchandise and
furniture, fixtures, and equipment of up to 27 of the Closing
Stores in accordance with the terms of the Agreement and the Sale
Guidelines.  The Store Closing Sales commenced on or about Aug. 26,
2015, and expected to end by Sept. 30, 2015.

                          The Agreement

Under the terms of the Agreement, the Agent will serve as the
exclusive agent to the Debtors for the purpose of conducting a sale
of certain merchandise and furniture, fixtures, and equipment at
the Closing Stores using the procedures outlined in the Sale
Guidelines.  The Debtors seek to assume the Agreement so that they
may leverage the experience and resources of the Agent in
performing large-scale liquidations while retaining control over
the sale process, which the Debtors believe will provide the
maximum benefit to the estates.

Provided the Gross Cost Recovery is no less than 87%, the Agent
will earn a fee equal to 1.5% of the aggregate Gross Proceeds of
Merchandise sold at the Stores.  If the Gross Cost Recovery is less
than the Base Fee Threshold, the Agent will not earn any fee for
services.  If the Gross Cost Recovery is equal or greater than 97%,
Agent's fee will be increased by 0.5% for a total Agent's fee of
2.0% of the aggregate Gross Proceeds of Merchandise sold at the
Stores.

                            About Haggen

Haggen Holdings, LLC, and its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del., Case Nos. 15-11874 to
15-11879) on Sept. 8, 2015.  The petitions were signed by Blake
Barnett as chief financial officer.

Young, Conaway, Stargatt & Taylor, LLP, is serving as the Debtors'
local counsel.  Stroock & Stroock & Lavan LLP serves as the
Debtors' general counsel.  Alvarez & Marsal North America, LLC,
acts as the Debtors' financial advisor.  Kurtzman Carson
Consultants LLC serves as the Debtors' claims and noticing agent.

The Debtors have estimated assets of $50 million to $100 million
and estimated liabilities of $10 million to $50 million.


HEALTH DIAGNOSTIC: Gets Final Approval to Obtain $12-Mil. Loan
--------------------------------------------------------------
A bankruptcy judge approved a $12 million financing to get Health
Diagnostic Laboratory Inc. and its affiliates through bankruptcy.

Judge Kevin Huennekens of the U.S. Bankruptcy Court for the Eastern
District of Virginia gave final approval to the loan to be provided
by a group of lenders led by CVF Beadsea LLC.

The bankruptcy judge previously allowed the company to borrow an
initial $6 million from the same lenders.

In exchange for the loan, Health Diagnostic granted the lenders
"superpriority administrative expense claim" and liens on assets it
used as collateral for the loan, according to court filings.

The liens granted to the lenders will be senior to other liens on
the collateral, including those of Branch Banking and Trust Co. and
BB&T Equipment Finance Corp.  They will be "junior in priority,"
however, to the liens of the Centers for Medicare & Medicaid
Services, which holds a secured claim against the company.

Judge Huennekens earlier denied BB&T's bid to put his interim order
on hold until a higher court heard its appeal of the ruling.  

In his 10-page opinion, the bankruptcy judge echoed the arguments
of Health Diagnostic and the official committee of unsecured
creditors, both of which opposed BB&T's request to stay the interim
order.

Judge Huennekens said he wasn't convinced that Health Diagnostic
wouldn't be able to pay the pre-bankruptcy loan it obtained from
BB&T as a result of its decision to grant liens to the lenders in
exchange for the $12 million financing.

"BB&T is adequately protected by the large equity cushion that
exists in the collateral," the judge wrote in his Aug. 17 opinion.


Judge Huennekens added that BB&T would benefit from the financing
since it would allow Health Diagnostic to pursue a sale of its
assets and repay its debts in full.  

Last month, U.S. District Judge M. Hannah Lauck declined to hear
the appeal from BB&T, court filings show.

The $12 million financing drew opposition from CMMS, Oncimmune
Limited and Richmond City Attorney's Office.

Oncimmune expressed fear its claim will not be paid from the loan
while CMMS complained that some terms of the financing contradict
its prior settlement agreement with Health Diagnostic that the
court approved in July.

Meanwhile, the city of Richmond accused Health Diagnostic of
attempting to eliminate its secured lien on some of the company's
assets.  The city claimed the company owes nearly $1.8 million for
unpaid taxes.

                      About Health Diagnostic

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

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

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

                           *     *     *

Health Diagnostic Laboratory Inc. will hold a Sept. 10 auction to
sell the Virginia lab's operations. In a court order signed on July
15, Judge Kevin Huennekens set a Sept. 4 bid deadline for potential
buyers.


HEALTH DIAGNOSTIC: Judge Declines BB&T's Bid to Stay DIP Order
--------------------------------------------------------------
Judge Kevin R. Huennekens of the United States Bankruptcy Court for
the Eastern District of Virginia, Richmond Division, denied the
Motion for Stay Pending Appeal filed by Branch Banking and Trust
Company and BB&T Equipment Finance Corporation against the debtor
Health Diagnostic Laboratory, Inc. ("HDL").

BB&T provided prepetition financing to HDL through four loan
agreements: (i) an equipment loan in the amount of $9,603,898.56;
(ii) a line of credit in the original principal amount of $20
million; (iii) a term loan in the original principal amount of $5.5
million; and (iv) a standby letter of credit in the face amount of
$4 million for the benefit of Fulton Bank, NA, for the account of
HDL.

Following the filing of their voluntary Chapter 11 petitions, the
debtors immediately began seeking debtor in possession financing
and obtained a credit agreement for secured, superpriority
postpetition financing consisting of a revolving facility with a
principal amount up to $12 million.

The court's entry of the DIP Financing Order prompted BB&T to file
a Motion for Stay Pending Appeal to request that the court stay the
effect of the DIP Financing Order pending the district court's
ruling on BB&T's appeal.

Judge Huennekens found that BB&T is unable to satisfy any of the
elements of a four-part test to determine whether a motion for stay
pending appeal should be granted.  The judge found that (i) BB&T is
unlikely to prevail on the merits on appeal; (ii) BB&T will not
suffer irreparable injury if the stay is denied; (iii) the debtors
will be seriously harmed by imposition of a stay; and (iv) the
public interest will be served by the denial of a stay.

The case is IN RE: HEALTH DIAGNOSTIC LABORATORY, INC., et al.,
Chapter 11, Debtors, CASE NO. 15-32919-KRH (JOINTLY ADMINISTERED)
(Bankr. E.D. Va.).

A full-text copy of Judge Huennekens' August 17, 2015 memorandum
opinion is available at http://is.gd/iFacxNfrom Leagle.com.  

                      About Health Diagnostic

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

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

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

                           *     *     *

Health Diagnostic Laboratory Inc. will hold a Sept. 10 auction to
sell the Virginia lab's operations. In a court order signed on July
15, Judge Kevin Huennekens set a Sept. 4 bid deadline for potential
buyers.


HORNED DORSET: Taps Pedro J. Rivera & Assoc. as Accountants
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico
authorized Horned Dorset Primavera Inc., to employ CPA Pedro J.
Rivera & Assoc.

The Debtor need the services of the firm to analyze and prepare the
financial documentation required in a Chapter 11 proceeding.

CPA Pedro J. Rivera has agreed to perform accounting services at
fees commensurate with its normal hourly rates:

        CPA Pedro J. Rivera                 $90
        Experience Staff Accountant         $65
        Staff Accountant                   $45

The Debtor also agreed to pay out-of-pocket expenses.

To the best of the Debtor's knowledge, CPA Rivera & Assoc. is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                   About The Horned Dorset Primavera

The Horned Dorset Primavera Inc. operates the Horned Dorset
Primavera, a small luxury hotel located in northwestern Puerto
Rico, two miles from the town of Rincon.  The hotel --
http://www.horneddorset.net/-- is set among rolling hills at   the

edge of the beautiful Caribbean Sea and is known for  reserved
European service executed in an atmosphere unique in  Puerto Rico
and the award-winning Restaurant Aaron.  The hotel  is a member of
Relais & Chateaux.

The Horned Dorset Primavera Inc. commenced a Chapter 11 bankruptcy
case (Bankr. D.P.R. Case No. 15-03837) in Old San Juan, Puerto
Rico
on May 22, 2015.

According to the docket, the Debtor's Chapter 11 plan is due Nov.
18, 2015.

The Debtor has tapped Isabel M Fullana, Esq., at Garcia Arregui &
Fullana PSC, as counsel.


INDIANA BANK: Court Grants Motion to Dismiss "Phillips" RICO Suit
-----------------------------------------------------------------
Judge William T. Lawrence of the United States District Court for
the Southern District of Indiana, Terre Haute Division, partially
grants Bank of Indiana, et. al.'s motion to dismiss Bryan K.
Phillips, et. al.'s Second Amended Complaint.

In their lawsuit, the Plaintiffs assert the following:

     (1) A claim under the Racketeer Influenced and Corrupt
Organizations Act against members of Indiana Bank Corp.'s Board of
Directors and Bank of Indiana relating to the acts of bank fraud
they are alleged to have committed;

     (2) A RICO claim against the IBC Board of Directors, Bank of
Indiana, and BOI Successor Corporation relating to their alleged
scheme to avoid personal liability for allowing the bank to exceed
its legal lending limit.

     (3) That the Defendants owed the Plaintiffs fiduciary duties,
duties of good faith and loyalty, the duty to act with reasonable
care, the duty of candor, and the duty to avoid conflicts of
interest and self-dealing and that each of the Defendants breached
these duties in various ways;

     (4) Claims of fraud and constructive fraud against the IBC
Board of Directors; and

     (5) That the Defendants were willfully, recklessly and/or
grossly negligent in their management, oversight, supervision and
control of Bank of Indiana and IBC.

Judge Lawrence made the following rulings with regard to the claims
asserted by the Plaintiffs:

     (1) RICO Claims:  Because permitting the Plaintiffs to proceed
with their RICO claim as a direct action would materially prejudice
the interests of IBC's other creditors and interfere with the fair
distribution of any recovery among all interested persons, to the
extent that Indiana law gives the Court discretion with regard to
the RICO claims, the Court does not find that permitting a direct
action is appropriate as to those claims.

     (2) Remaining Claims: Whether any of the Plaintiffs' state law
claims can be pursued as direct actions under Indiana law is a
question better answered by an Indiana court. Accordingly, the
Court declines to exercise supplemental jurisdiction over the state
law claims asserted in the Plaintiffs' Second Amended Complaint.

The case is BRYAN K. PHILLIPS, et al., Plaintiffs, v. BANK OF
INDIANA, NATIONAL ASSOCIATION, et al., Defendants, No.
2:13-CV-412-WTL-DKL (S.D. Ind.).

A full-text copy of Judge Lawrence's Entry On Motions To Dismiss
dated August 26, 2015 is available at http://is.gd/VHMtoqfrom
Leagle.com.

Bryan K. Phillips, et. al., are represented by:

          Mark Douglas Hassler, Esq.
          HUNT HASSLER & LORENZ, LLP
          100 Cherry Street
          Terre Haute, IN 47807
          Telephone: (812)645-4231

Frank D. Neese, et. al., are represented by:

          Bradley M. Dick, Esq.
          Jeffrey B. Bailey, Esq.
          Paul D. Vink, Esq.
          BOSE MCKINNEY & EVANS, LLP
          111 Monument Circle
          Suite 2700
          Indianapolis, IN 46204
          Telephone: (317)684-5000
          Facsimile: (317)684-5173
          Email: bdick@boselaw.com
                 jbbailey@boselaw.com
                 pvink@boselaw.com

             -- and --

          Adam B. Brower, Esq.
          BANKS & BROWER LLC
          9102 N. Meridian Street, #500
          Indianapolis, IN 46260
          Telephone: (317)870-0019
          Email: info@banksbrower.com

             -- and --

          Mark R. Waterfill, Esq.
          BENESCH, FRIEDLANDER,
          COPLAN & ARONOFF, LLP.
          One American Square
          Suite 2300
          Indianapolis, IN 46282-0018
          Telephone: (317)632-3232
          Facsimile: (317)632-2962
          Email: mwaterfill@beneschlaw.com

             -- and --

          John David Hoover, Esq.
          Michael A. Dorelli, Esq.
          HOOVER HULL TURNER LLP
          111 Monument Cir. #4400
          Indianapolis, IN 46204
          Telephone: (317)822-4400
          Email: jdhoover@hooverhull.com
                 mdorelli@hooverhull.com

             -- and --

          Jeffrey A. Hokanson, Esq.
          FROST BROWN TODD LLC
          201 North Illinois Street
          Suite 1900
          Indianapolis, IN 46204-4236
          Telephone: (317)237-3800
          Facsimile: (317)237-3900
          Email: jhokanson@fbtlaw.com

               About Indiana Bank

Indiana Bank Corp., a bank holding company, filed for
Chapter 11 protection (Bankr. S.D. Ind. Case No. 13-bk-80388) on
April 9, 2013, in Terra Haute, Indiana.

On April 9, the holding company announced that its four-branch
bank subsidiary Bank of Indiana NA will be sold to First Farmers
Bank & Trust.  First Farmers has 24 branches in Illinois and
Indiana.  It will acquire "significant assets" and assume
liability to depositors on their accounts.  The acquisition should
be completed in the third quarter.

Dana, Indiana-based Indiana Bank Corp. estimated assets and debt
both less than $10 million.


LNIC-MD LLC: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: LNIC-MD, LLC
        1002 Eastern Shore Drive
        Salisbury, MD 21804  

Case No.: 15-22555

Chapter 11 Petition Date: September 9, 2015

Court: United States Bankruptcy Court
       District of Maryland (Baltimore)

Judge: Hon. Thomas J. Catliota

Debtor's Counsel: Alan M. Grochal, Esq.
                  TYDINGS AND ROSENBERG, LLP
                  100 E. Pratt Street., Fl. 26
                  Baltimore, MD 21202
                  Tel: 410-752-9700
                  Fax: 410-727-5460
                  Email: agrochal@tydingslaw.com

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Wilson Reynolds Jr., managing member.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/mdb15-22555.pdf


LOMA LINDA: Fitch Lowers Rating on $683MM Revenue Bonds to 'BB+'
----------------------------------------------------------------
Fitch Ratings has downgraded the rating to 'BB+' from 'BBB-' on the
approximately $683 million California Statewide Communities
Development Authority revenue bonds, series 2014A-C, issued on
behalf of Loma Linda University Medical Center.

The Rating Outlook remains Negative.

SECURITY

The bonds are secured by a gross revenue pledge and mortgage pledge
of the obligated group (OG).  In addition, there is a debt service
reserve fund.  The OG accounted for 100% of total assets and 98% of
total revenue of the consolidated entity in 2014
(Dec. 31, fiscal year end; audited).  Fitch's analysis is based on
the consolidated entity, Loma Linda University Medical Center and
Affiliates (LLUMC or system).

KEY RATING DRIVERS

STATE MANDATED SESIMIC REQUIREMENTS IMMINENT: The rating downgrade
reflects LLUMC's plan to issue approximately $816 million of
additional debt in the second quarter of 2016 to fund a portion of
the cost of its campus transformation project due to state seismic
requirements.  Although these plans have always been on the
horizon, the rating downgrade reflects the magnitude of the
expected financing and the increased certainty of the project
including the timing and scope.

WEAK LIQUIDITY: LLUMC's liquidity has always been weak.  With the
expected additional debt, pro forma liquidity metrics are weak even
at the 'BB+' rating level.  Despite various opportunities for
improvement, liquidity growth has historically been a challenge.
The most recent issue impacting liquidity is higher than normal
accounts receivable and ongoing provider fee receivables; however,
the accounts receivable issue has been addressed and should result
in better liquidity by year-end 2015.

BETTER OPERATING PERFORMANCE: LLUMC's operating performance has
improved since Fitch's last rating review.  Improved operating
performance has been driven by increased volume and better payor
mix as a result of Medi-Cal expansion, the receipt of provider fee
funds, and better operating performance at Murrieta (which
historically had large losses).  Operating and operating EBITDA
margins of 4.1% and 10.6%, respectively, in 2014 are strong for the
rating level, and are expected to be sustained.

GOOD MARKET POSITION: One of LLUMC's main credit strengths is its
position as an academic medical center and its role as a major
provider of tertiary and quaternary services in addition to its
teaching and research mission.  Under leadership from a relatively
new team (about one year), the organization is developing various
strategies to secure its market position in a growing service area
and to prepare for population health management.

CHALLENGING PAYOR MIX: The system has been challenged by its
unfavorable payor mix and the system is the second-largest provider
of Medi-Cal services in the state.  There has been a noticeable
shift to more Medi-Cal and less self-pay with implementation of the
Patient Protection and Affordable Care Act (PPACA).  Given the high
Medi-Cal burden, LLUMC's profitability and cash flow have benefited
from the state provider fee program, which has been in place since
2010 (payments retroactive to April 2009) and was extended for a
three-year period (Jan. 1, 2014, to Dec. 31, 2016), which should
net LLUMC $282 million over the three years.

RATING SENSITIVITIES

LIMITED FINANCIAL FLEXIBILITY: The maintenance of the Negative
Outlook reflects Fitch's ongoing concern about the impact of the
campus transformation project on Loma Linda University Medical
Center's credit profile.  Given the significant size and scope of
the project, management's ability to execute will be a key rating
determinant.  There could be further rating movement if there are
material changes in the campus transformation plan and/or if
current operating performance is not sustained.

CREDIT PROFILE

Loma Linda Medical Center and Affiliates is part of Loma Linda
University Health (LLUH), which also includes Loma Linda University
and several other related organizations.  A board restructuring in
April 2015 resulted in one unified board with additional physician
representation.  There are no consolidated financials available at
LLUH.  LLUMC is located in Loma Linda, CA, 60 miles east of Los
Angeles and includes 1,076 licensed beds. LLUMC houses the nation's
first hospital-based proton treatment center for cancer.  The
hospitals are University Hospital, Children's Hospital, East Campus
Hospital, Surgical Hospital, Behavioral Medicine Center, and
Murrieta Hospital.  LLUMC had total revenue of $1.5 billion in
2014.  A new CEO has been in a permanent role since August 2014
(prior General Counsel) and with additional executive management
changes, there is a focus on accountability and performance
improvement, which will be necessary given the upcoming campus
transformation project.

Campus Transformation Project

LLUMC is nearing the deadline to meet state seismic requirements
and is proceeding with its campus transformation project, which is
expected to begin construction in March 2016 with completion in
December 2019.  The project cost has increased to $1.05 billion due
to additions to the project since Fitch's last rating review. The
campus transformation project includes two new patient towers
(adult and children's), a new emergency room, operating rooms,
diagnostic and imaging services, and a birthing center.  The
project will result in 989,000 square feet of new space with a
total capacity of 693 licensed beds (320 adult and 377 children's)
including shelled space, new operating rooms, diagnostic and
imaging services, cardiovascular labs, birthing center, NICU
expansion and two emergency rooms (adult and children's).

The sources of funding are $529 million from the series 2016 bonds,
$160 million from state grants (Proposition 61 and 3 voter-approved
ballot initiatives for children's hospital construction), $140
million from philanthropy and $220 million from cash flow. The
increase in the project cost is being funded through operations,
which necessitates the maintenance of generating solid cash flow.

Weak Liquidity

Total unrestricted cash and investments at June 30, 2015 was $324.4
million, which resulted in 81.8 days cash on hand (DCOH) and 40.1%
cash to debt, which is a slight decline from Dec. 31, 2014.  Fitch
expected liquidity to improve due to the release of swap collateral
in conjunction with 2014 debt restructuring as well as a pending
provider fee receivable.  However, liquidity has been pressured by
higher than normal accounts receivable related to the separate
licensure of the children's hospital as of November 2014 and the
delay in receiving new provider numbers for billing, which resumed
in May 2015.  This delay resulted in the write down of
approximately $15 million of net patient revenue, which is viewed
negatively.  LLUMC has $25 million outstanding on a line of credit
due to the accounts receivable issue.  In addition, the provider
fee receivable at June 30, 2015, was $68 million from $129 million
at Dec. 31, 2014.

Assuming the issuance of $816 million of additional debt in 2016,
LLUMC's weak pro forma liquidity position provides thin financial
cushion for any shortfall in the other sources of funding for the
project ($220 million from operating cash flow and $140 million
from philanthropy).  However, Fitch notes that Loma Linda
University has committed a $100 million line of credit to LLUMC
through construction, which is viewed favorably.

Improved Operating Performance

LLUMC's operating performance in 2014 and through the six months
ended June 30, 2015 has improved with operating margins of 4.1% and
5%, respectively and operating EBITDA margins of 10.6% and 11.8%,
respectively.  LLUMC has benefited significantly from the provider
fee, however, the timing of the approval of the various components
of the program results in uneven performance.

California enacted a hospital provider fee in 2010 to draw down
additional federal funds for Medi-Cal services.  Given LLUMC's high
Medi-Cal load, LLUMC has been a major beneficiary of the program.
The 2010 provider fee (for the period April 2009 to December 2010)
resulted in a net benefit of $85 million in 2010. Two subsequent
periods were approved with a net benefit of $43 million in 2011,
$63 million in 2012, and $87 million in 2013.  The provider fee
program for the 2014-2016 period is expected to net $282 million
over three years and only a portion of this program has been
approved.  LLUMC booked a net benefit of $65 million in 2014 and
$43 million through the six months ended
June 30, 2015.

Other factors driving improved performance include strong
utilization growth due to Medi-Cal expansion and improved payor mix
and better performance at its Murrieta facility.  Discharges and
emergency room visits have increased 8% and 12%, respectively
through the six months ended June 30, 2015 compared to the same
prior year period.  Although volume growth is favorable, LLUMC has
had to use premium labor to meet the demand.  Payor mix continues
to improve with self pay as a percentage of net revenue declining
to 1% in 2014 from 4.7% in 2011.  Murrieta has historically been
challenged and hampered by high capital costs.  Given the
refinancing in 2014, improved volume, and other operating
improvement initiatives, Murrieta had a negative bottom line of
$8.8 million in 2014 compared to negative $32 million in 2013.

Management has several performance improvement initiatives underway
including labor productivity, clinical documentation and
operations, and revenue cycle and expects to end 2015 with a $100
million bottom line (6% excess margin).  It is necessary for LLUMC
to sustain strong operations due to its upcoming campus
transformation project.  Management projects maintaining a $100
million bottom line over the next few years.

Solidifying Market Position

LLUMC's main credit strength continues to be its leading market
share position and role as an academic medical center.  LLUMC is
the market share leader in its primary service area in the Inland
Empire (San Bernardino and Riverside counties).  It offers
quaternary and tertiary services and has the only level-I trauma
center and level-III neonatal intensive care unit in the service
area.  LLUMC's Medicare case mix index is very high at 1.98.
LLUMC's market share has increased to 10.5% in 2013 from 9.1% in
2011 compared to the next closest competitor, Kaiser-Fontana, with
6.6% market share.  Market share is expected to increase especially
with the increased volume at its Murrieta facility.

LLUMC has several strategies underway to solidify and expand its
market position in the growing Inland Empire.  These include
developing a clinically integrated network with the county
hospitals in San Bernardino County and a health plan with a large
number of Medi-Cal lives, in addition to further growing its
facility and physician network for various contracting strategies
including narrow networks.  These strategies are early in formation
and Fitch will monitor the execution of the various strategies.

Debt Profile

Fitch views LLUMC's debt restructuring in 2014 favorably as it
eliminated various risks in the debt profile (swap and letter of
credit exposure) as well as provided cash flow savings to prepare
for the series 2016 issuance.

Total outstanding debt at June 30, 2015 totaled $809 million and
bonded debt of $683 million is 100% fixed rate.  Other debt
includes $54 million of OG notes and capital leases, $25 million
line of credit, and $45 million of non OG debt.  Fitch used a
consolidated maximum annual debt service (MADS) of $56.4 million.
Debt service coverage is solid at 3x in 2014 and 3.5x through the
six months ended June 30, 2015.

LLUMC has a 60 DCOH covenant and annual debt service coverage
covenant of 1.1x.

The series 2016 issuance is expected in the second quarter of 2016
and the $816 million of proceeds are expected to fund $529 million
of project costs, $199 million of capitalized interest, $76 million
for a debt service reserve, and costs of issuance.  As provided by
management, pro forma MADS (including the series 2016 issuance)
increases to approximately $115 million which results in weak pro
forma debt metrics at the 'BB+' rating level.  Pro forma MADS
coverage was 1.7x through the six months ended June 30, 2015, and
1.5x in 2014.  Pro forma MADS accounted for a high 7.2% of total
revenue.

Disclosure

LLUMC covenants to provide annual audited information within 150
days of fiscal year end and quarterly information within 60 days of
quarter end to EMMA.

In addition, Fitch has withdrawn its ratings for these bonds due to
prerefunding activity:

   -- Loma Linda (CA) (Loma Linda University Medical Center
      Project) hospital revenue bonds series 2008A (prerefunded
      maturities only);

   -- Loma Linda (CA) (Loma Linda University Medical Center
      Project) hospital revenue refunding bonds series 2005A
      (prerefunded maturities only);

   -- Loma Linda (CA) (Loma Linda University Medical Center
      Project) variable rate hospital revenue bonds series 2007B-2

      (prerefunded maturities only);

   -- Loma Linda (CA) (Loma Linda University Medical Center
      Project) variable rate hospital revenue bonds series 2008B
      (prerefunded maturities only).



LOUISIANA-PACIFIC CORP: S&P Lowers Rating to 'BB-'; Outlook Stable
------------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its rating on
Nashville-based Louisiana-Pacific Corp. to 'BB-' from 'BB'.  The
outlook is stable. At the same time, we lowered the rating on the
company's senior unsecured debt to 'BB-' from 'BB'.

The downgrade reflects the deterioration of Louisiana-Pacific's
credit measures over the past two years to the aggressive category
from "significant," mainly due to significant volatility in OSB
prices.  The company offsets the volatility in its results by
maintaining "strong" liquidity and good product diversification.

"In our opinion, the North American OSB market is oversupplied due
to the excess OSB capacity of major suppliers and the
slower-than-expected recovery of U.S. housing.  While the housing
market is improving, the level of annual housing starts is still
historically low, resulting in weak OSB capacity utilization rates
and low pricing.  We estimate that absent OSB capacity reductions,
another 100,000 to 200,000 housing starts would be necessary for
OSB capacity utilization to approach 90%, at which point prices
historically have increased for OSB pricing is subject to material
increases," S&P noted.

"The stable outlook reflects our view that while OSB prices will
continue to be a source of volatility on Louisiana-Pacific's
earnings, we think they are at or near a cyclical low," said
Standard & Poor's credit analyst Thomas O'Toole.  "Despite the
expected volatility, we anticipate that the company will maintain
credit measures in line with an aggressive financial risk profile
and strong liquidity assessment."

S&P could lower the rating on the company or revise the outlook to
negative if its liquidity weakened to the extent that cash balances
fell below $200 million over the next 12 months or if OSB prices
unexpectedly fell further, resulting in weak credit measures and a
faster cash burn.

S&P could raise the rating on the company if its adjusted debt to
EBITDA is sustained below 4x.  This could happen if OSB prices
return to normalized levels due to continued growth in the U.S.
housing market and/or a drop in industrywide capacity of OSB.



LUCA INTERNATIONAL: Court Approves Property Transfer
----------------------------------------------------
The United States Bankruptcy Court for the Southern District of
Texas, Houston Division, at the behest of Luca International Group,
LLC and its affiliates, authorized Bingqing Yang -- who had a $3.2
million Residential Purchase Agreement and Joint Escrow
Instructions for the property at 3704 Monte Serrano Terrace,
Fremont, California 94539 -- to immediately transfer the Property
to the Debtors.

The Debtors asserted that Yang has agreed to convey the Property to
the Debtors and maintain a claim for any proceeds from the sale of
the Property after payment of the undisputed mortgages. The
proceeds from any authorized sale shall remain in escrow with the
Debtors' Counsel, Hoover Slovacek LLP, until a determination is
made regarding who is entitled to the proceeds.

The Official Equity Security Holders Committee filed an Unopposed
Motion for the Entry of an Amended Order with Regard to the
Property Transfer. The Committee explains that an amended order
provides additional detail regarding the mechanics of the transfer
of the Property and expressly preserves the interests and rights of
all parties. The amendment entails that the transfer will be done
by way of general warranty deed and shall execute all documents
required to fully effectuate the transfer of title to the Property
to Operations. Operations shall subsequently cause such deed to be
recorded in the appropriate real property records of the State of
California.

The Official Committee of Equity Security Holders is represented
by:

          Philip G. Eisenberg, Esq.
          Elizabeth M. Guffy, Esq.
          Steven W. Golden, Esq.
          LOCKE LORD LLP
          600 Travis Street, Suite 2800
          Houston, TX 77002
          Tel: 713-226-1200
          Fax: 713-223-3717
          Email: peisenberg@lockelord.com
                  eguffy@lockelord.com
                  steven.golden@lockelord.com

The Debtors are represented by:

          Josh T. Judd, Esq.
          Edward L Rothberg, Esq.
          Brendetta Anthony Scott, Esq.      
          HOOVER SLOVACEK, LLP
          Galleria Tower II
          5051 Westheimer, Suite 1200
          Houston, TX 77056
          Tel: (713)735-4165
          Fax: (713)977-5395
          Email: judd@hooverslovacek.com
                 rothberg@hooverslovacek.com
                 scott@hooverslovacek.com

                    About Luca International

Luca International Group LLC and Luca Operation, LLC, and their
affiliates are engaged in the exploration and production of natural
gas, petroleum and related hydrocarbons.  The primary assets are
located in Iberville and Ascension Parishes in Louisiana.  These
assets include 3 operating oil and gas wells -- Belle Grove 1,
Dugas & Leblanc 1 and Jumonville 2.  In addition, the assets
include a water disposal well, Acosta 1, and a shut-in-oil and gas
well, Jumonville 1.  The Luca entities also own oil and gas leases
in Texas and working interests in various locations.  The Luca
entities are owned by Bingqing Yang.

Luca International Group and 11 related entities sought Chapter 11
protection (Bankr. S.D. Tex. Lead Case No. 15-34221) in Houston,
Texas, on Aug. 6, 2015.  The cases are assigned to Judge David R.
Jones.

The Debtors tapped Hoover Slovacek, LLP, as counsel, and BMC
Group, Inc., as claims agent.

Luca International estimated $50 million to $100 million in assets
and debt.

The petitions were signed by Loretta R. Cross, the CRO.


LUCA INTERNATIONAL: Proposes Incentive Plan for Key Employees
-------------------------------------------------------------
Luca International Group, LLC, and its affiliates ask the United
States Bankruptcy Court for the Southern District of Texas, Houston
Division, to approve a Key Employee Incentive Plan and a Key
Employee Retention Plan.

Luca says the Plans will restore credibility to the operation of
their businesses.

Luca seeks authority to implement the KEIP and KERP to enable it to
maximize the value of its estates during the pendency of these
Chapter 11 cases. The goals of these programs are as follow:

     (a) to encourage Mr. Dale Wetherbee, the Debtors' Chief
Operating Officer, to stay focused on Luca's core operations to
facilitate a smooth sales process;

     (b) to align the interests of Luca's Chief Operating Officer
with those of the stakeholders;

     (c) to reward Mr. Wetherbee as an essential employee if
critical goals are satisfied; and

     (d) to motivate and preserve essential personnel through the
sales process.

Luca explains that the KEIP provides an incentive payment to Mr.
Wetherbee based upon the sales price of the Oil and Gas Properties
to be measured on the earlier of (a) emerging from Chapter 11
bankruptcy or (b) the closing of a sale of substantially all the
assets. The KERP provides a retention bonus payment to Mr.
Wetherbee in the amount of $101,050. Motivating Mr. Wetherbee to
continue his employment and shoulder additional responsibilities is
critical to maximizing the value to the stakeholders, Luca adds.

The Debtors are represented by:

          Josh T. Judd, Esq.
          Edward L Rothberg, Esq.
          Brendetta Anthony Scott, Esq.      
          HOOVER SLOVACEK, LLP
          Galleria Tower II
          5051 Westheimer, Suite 1200
          Houston, TX 77056
          Tel: (713)735-4165
          Fax: (713)977-5395
          Email: judd@hooverslovacek.com
                 rothberg@hooverslovacek.com
                 scott@hooverslovacek.com

                 About Luca International

Luca International Group LLC and Luca Operation, LLC, and their
affiliates are engaged in the exploration and production of
natural gas, petroleum and related hydrocarbons.  The primary
assets are
located in Iberville and Ascension Parishes in Louisiana.  These
assets include 3 operating oil and gas wells -- Belle Grove 1,
Dugas & Leblanc 1 and Jumonville 2.  In addition, the assets
include a water disposal well, Acosta 1, and a shut-in-oil and gas
well, Jumonville 1.  The Luca entities also own oil and gas leases
in Texas and working interests in various locations.  The Luca
entities are owned by Bingqing Yang.

Luca International Group and 11 related entities sought Chapter 11
protection (Bankr. S.D. Tex. Lead Case No. 15-34221) in Houston,
Texas, on Aug. 6, 2015.  The cases are assigned to Judge David R.
Jones.

The Debtors tapped Hoover Slovacek, LLP, as counsel, and BMC
Group, Inc., as claims agent.

Luca International estimated $50 million to $100 million in assets
and debt.

The petitions were signed by Loretta R. Cross, the CRO.


MEGA RV: Bankruptcy Court Approves Lance Soll as Accountants
------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
authorized Mega RV Corp., to employ Lance, Soll & Lunghard, LLP,
including its members, and associates, as accountants effective
July 2, 2015.

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

                        About Mega RV Corp.

Mega RV Corp. filed a Chapter 11 bankruptcy petition (Bankr. C.D.
Cal. Case No. 14-13770) on June 15, 2014.  Judge Mark S Wallace
presides over the case.  The Debtor estimated assets and
liabilities of at least $10 million.  Goe & Forsythe, LLP, serves
as the Debtor's counsel.  Greenberg Glusker Fields Claman &
Machtinger LLP represents the Official Committee of Unsecured
Creditors.

The U.S. Trustee for Region 16 appointed three creditors to serve
on the official committee of unsecured creditors.  The Commttee
tapped to retain Greenberg Glusker Fields Claman & Machtinger LLP
as its general bankruptcy counsel.


NEW YORK LIGHT: Panel Agrees to Pay Emerald Capital $375 Per Hour
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of New York Light Energy, LLC, filed with the U.S. Bankruptcy
Court for the Northern District of New York an employment agreement
with Emerald Capital Advisors Corp.

According to the employment agreement, the Committee agreed that
Emerald, as financial advisor, will be compensated at the blended
hourly rate of $375 for all professionals' time.  A full-text copy
of the engagement agreement is available for free at:

    http://bankrupt.com/misc/NYLight_148_146_exh_Emerald.pdf

As reported by The Troubled Company Reporter on Sept. 1, 2015, the
Committee said that Emerald Capital, as financial advisor, will
evaluate the likelihood that the Debtor can reorganize, determine
going concern and liquidation values, investigate possible
financial irregularities, and be able to review and critique the
Debtor's financial projections and valuations.

Emerald Capital will also be reimbursed for reasonable
out-of-pocket expenses incurred.

                     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.

The U.S. Trustee for Region 2, appointed three creditors to serve
in an Official Committee of Unsecured Creditors in the Chapter 11
cases of New York Light Energy, LLC, et al.  The Committee retains
Hodgson Russ LLP as its attorneys and Emerald Capital Advisors
Corp. as financial advisor.


NEWZOOM INC: Maker of Airport, Mall Kiosks Enters Bankruptcy
------------------------------------------------------------
NewZoom, Inc., d/b/a ZoomSystems, filed for Chapter 11 bankruptcy
protection (Bankr. N.D. Cal. Case No. 15-31141) in San Francisco,
California, on September 10, 2015. Judge Hannah Blumenstiel
presides over the case.

Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
reported that the California maker of ZoomShops vending machines,
which sells electronics, high-end cosmetics and other items in
places like airports and shopping malls, filed for bankruptcy after
several customer projects hit delays.  According to the report,
executives who put the company into chapter 11 protection said the
company is running low on money after revenue fell during the
delays.  They asked Judge Blumenstiel to quickly approve a $3.7
million bankruptcy loan that would keep the 115-worker company
operating, the DBR report related.

John D. Fiero, Esq., and Jason Rosell, Esq., at Pachuiski Stang
Ziehi & Jones LLP, represent the Company as counsel.


NICHOLS CREEK: Hawkins Avenue Consents to Case Dismissal
--------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida held a
final evidentiary hearing on Aug. 24, 2015, to consider the motion
to (i) dismiss Nichols Creek Development LLC's case; or, in the
alternative, (ii) grant relief from the automatic stay.

According to Nichols Creek's case docket, the court took creditor
Whitney Bank's motion under advisement and order in due course.

Another creditor, Hawkins Avenue Corp., has notified the Court that
it consents to the dismissal of the Debtor's case.

As reported in the Troubled Company Reporter on April 16, 2015,
creditor Whitney Bank, formerly known as Hancock Bank, requested
that the Court dismiss the case, as a bad faith filing; or in the
alternative, grant relief from the automatic stay.  Whitney Bank,
as assignee of FDIC as receiver for People's First Community Bank,
said that the real property of the Debtor subject to the mortgage
is underdeveloped real property owned located in Duval County,
Florida.  Whitney Bank also said that the Debtor is a single assets
real estate with no hope or ability proposing a viable, confirmable
plan of reorganization.

Hawkins Avenue Corp., and the Debtor opposed to the dismissal of
the case.

As reported in the March 13 edition of the TCR, Hawkins Avenue
averred the interests of the creditors of the estate are better
served by allowing the sale of the property to close and the
proceeds of the sale to be held in trust, so that the Court may
later determine the priorities and amounts due the respective
parties.

The Debtor opposed the dismissal, saying Whitney Bank cannot
establish bad faith and is not entitled to relief under Section 362
or Section 1112 of the Bankruptcy Code.  Additionally, the Debtor
said that there is a substantial equity cushion in the property for
Whitney and the property is not declining in value.  The Debtor
pointed out that it has agreed, subject to Court approval, to sell
the property for $14,900,000.

Hawkins Avenue is represented by:

         Eugene H. Johnson, Esq.
         JOHNSON LAW FIRM, P.A.
         100 N. Laura Street, Suite 701
         Jacksonville, FL 32202
         Tel: (904) 652-2400
         Fax: (904) 652-2401
         E-mail: ehj@johnsonlawpa.com

                      About Nichols Creek

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

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

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

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


NNN MET: Taps Darvy Mack Cohan as Lead Bankruptcy Counsel
---------------------------------------------------------
NNN Met Center 15 39, LLC, et al., ask the U.S. Bankruptcy Court
for the Northern District of California for permission to employ
Darvy Mack Cohan as the Debtors' lead bankruptcy counsel.

The Debtors agreed to compensate the firm its hourly rates:

         Darvy Mack Cohan               $400
         Paralegal                      $150

The Debtors had deposited $156,661 into the Client Trust Account of
the counsel on July 29, 2015.  The counsel holds $77,720 in its
Client Trust Account for services after application of fees and
expenses.

To the best of the Debtors' knowledge, the firm represents no
adverse interests to the Debtors.

The firm can be reached at:

         DARVY MACK COHAN
         7855 Ivanhoe Avenue, Suite 400
         La Jolla, CA 92037
         Tel: (858) 459-4432
         Fax: (858) 454-3548
         E-mail: dmc@cohanlaw.com

Mr. Sparks also submitted a declaration in support of the
application.

                           About NNN Met

NNN Met Center 15 39 and 32 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. N.D. Calif. Lead Case No. 15-42359)
on
July 31, 2015.  Alan Sparks signed the petitions as manager and
responsible individual.  NNN Met Center 15 39, LLC, disclosed
total assets of $32,003,866 and total liabilities of $28,143,523
as of the Petition Date.  

Judge William J. Lafferty presides over the cases.  The Law Offices
of Darvy Mack Cohan represents the Debtors as counsel.  Elkington
Shepherd LLP serves as their local counsel.

On Aug. 12, 2015, the Court, in its amended order approved the
joint
administration of the cases.

Creditors have until Oct. 30, 2015, to file proofs of claim against

the Debtors.


NRAD MEDICAL: Competitor Mulls Bid, Objects to Sale Terms
---------------------------------------------------------
Integrated Medical Professionals opposed debtor NRAD Medical
Associates, P.C.'s motion asking the U.S. Bankruptcy Court for the
Eastern District of New York to approve its standstill agreement,
proposed services agreement, and asset purchase agreement for the
sale of substantially all assets of the Debtor's Radiation Therapy
Practice to Catholic Health System of Long Island, Inc.

IMP operates a multi-specialty practice, including radiation
therapy, from over 50 locations, inclusive of 6 radiation oncology
practices, 45 urology practices, and 1 colorectal surgery practice,
and employs approximately 96 physicians, comprised of 82
urologists, 10 radiation oncologists, 1 colorectal surgeon, and 3
pathologists.

IMP is interested in acquiring the Debtor's radiation therapy
practice and related assets that are the subject of the Debtor's
Sale Motion.

IMP tells the Court that it opposes the Motion to the extent it
seeks to approve a "no shop clause" which precludes the Debtor from
seeking or negotiating higher offers from other interested
purchasers of the assets, including IMP. IMP further tells the
Court that it does not oppose the private sale of the Debtor's
radiation practice and assets to CHS as long as IMP is permitted a
full and fair opportunity to purchase the subject assets at auction
or otherwise, and conduct its own due diligence regarding the sale
of the radiation therapy practice and related assets, thus, making
CHS's proposed asset purchase agreement subject to higher and
better offers by IMP.

IMP relates that it is ready, willing, and able to acquire the
subject assets at a higher price than that proposed by CHS, subject
to reasonable due diligence.

Integrated Medical Professionals, PLLC is represented by:

          Kenneth A. Reynolds, Esq.
          MCBREEN & KOPKO
          500 North Broadway, Suite 129
          Jericho, NY 11753
          Telephone: (516)364-1095
          Email: kreynolds@mklawnyc.com

                About NRAD Medical Associates, P.C.

NRAD Medical Associates, P.C., operated a regional radiology
imaging medical practice and a regional radiation therapy practice
with 16 locations throughout Long Island and Queens, New York,
before selling its assets in June 2015.

NRAD Medical sought Chapter 11 bankruptcy protection (Bankr.
E.D.N.Y. Case No. 15-72898) in Central Islip, New York, on July 7,
2015.  The case is assigned to Judge Louis A. Scarcella.

The Debtor estimated assets and liabilities of $10 million to $50
million.

The Debtor is represented by Anthony C Acampora, Esq., at
Silverman Acampora LLP, in Jericho, New York.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due Nov. 4, 2015.


NRAD MEDICAL: Equipment Lessor Objects to Sale of Unit
------------------------------------------------------
Key Equipment Finance, a division of KeyBank National Association,
opposed NRAD Medical Associates, P.C.'s motion asking the U.S.
Bankruptcy Court for the Eastern District of New York to approve
its standstill agreement, proposed services agreement, and asset
purchase agreement for the sale of substantially all assets of the
Debtor's Radiation Therapy Practice to Catholic Health System of
Long Island, Inc.

Prior to the Petition Date, Key and the Debtor entered into Master
Equipment Lease Agreement #K916 and the related Equipment Schedule
No. 01, pursuant to which, Key extended credit in the amount of
$2,359,990.97 and acquired and upgraded a Varian RapidArc
radiotherapy machine and linear accelerator on the Debtor's behalf.
Key permitted the Debtor to retain possession of and use the Key
Equipment to operate its regional radiation therapy practice.  In
return, the Debtor agreed to make 84 payments to Key of $37,095.91
each, and granted Key a security interest in the Key Equipment.

The Debtor defaulted on its monthly payments to Key before the
Petition Date. The Debtor's prepetition payment defaults under the
Key Documents total $197,164.79.

Key contends that the relief the Debtor requested in its motion is
vague and uncertain, and should not be granted as presently
requested. Key further contends that the Key equipment is located
at 700 Stewart Avenue, where the Debtor operates its RT Practice.
Key relates that it cannot be determined from the Sale Motion
whether the Debtor intends to include the Key Equipment in the 363
Sale, or classify the Key Equipment to be property leased under a
"capital equipment lease", which pursuant to the Sale Motion, would
not be part of the assets sold.

Key further cites these reasons for its opposition to the Debtor's
Sale Motion:

     (1) The relief, as requested in the Sale Motion, would
impermissibly violate Key's absolute right to adequate protection
of its interest in the Key Equipment. The 363 Sale Motion makes no
provision whatsoever for post-petition adequate protection payments
to Key during the protracted timeframe of the 363 Sale. The Debtor
is continuing to use and will continue using the Key Equipment to
operate its RT Practice pending a closing of the 363 Sale. Key
believes that it is absolutely entitled to adequate protection of
its interest in the Key Equipment while the Debtor continues using
it to get to a closing of the 363 Sale.

     (2) The Sale Motion does not specify how the "Standstill Fee"
will be used. According to the Sale Motion, Catholic Health Systems
will pay the Debtor a $412,000 fee to cover "the estimated losses
the debtor expects to incur" during the 60- or 70-day Standstill
Period. To the extent the Standstill Fee is intended to cover the
Debtor's costs and expenses of operating the RT Practice, the
Debtor must be contemplating making post-petition operating
expenses out of the $412,000 deposit. Neither the Sale Motion nor
the Standstill Agreement, however, specifies which on-going
operating expenses the Standstill Fee will fund. To the extent the
Debtor continues using the Key Equipment to operate its RT Practice
pending a closing of the 363 Sale, Key contends that the Standstill
Fee must specifically include adequate protection payments to it.

Key is represented by:

          Michael A. Axel, Esq.
          KEYBANK NATIONAL ASSOCIATION
          127 Public Square
          Second Floor
          Cleveland, OH 44114-1306
          Telephone: (216)689-4959
          Facsimile: (216)689-5681
          Email: michael_axel@keybank.com

             About NRAD Medical Associates, P.C.

NRAD Medical Associates, P.C., operated a regional radiology
imaging medical practice and a regional radiation therapy practice
with 16 locations throughout Long Island and Queens, New York,
before selling its assets in June 2015.

NRAD Medical sought Chapter 11 bankruptcy protection (Bankr.
E.D.N.Y. Case No. 15-72898) in Central Islip, New York, on July 7,
2015.  The case is assigned to Judge Louis A. Scarcella.

The Debtor estimated assets and liabilities of $10 million to $50
million.

The Debtor is represented by Anthony C Acampora, Esq., at
Silverman Acampora LLP, in Jericho, New York.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due Nov. 4, 2015.


OAKFABCO INC: Section 341(a) Meeting Slated for September 29
------------------------------------------------------------
Patrick S. Laying, the U.S. Trustee for Region 11, will convene a
meeting of creditors of Oakfabco Inc on Sept. 29, 2015, 1:30 p.m.,
219 South Dearborn, Office of the U.S. Trustee, 8th Floor, Room 802
in Chicago, Illinois.

                       About Oakfabco, Inc.

Oakfabco, Inc, formerly known as Kewanee Boiler Corporation, has
not manufactured boilers since 1988 when it sold its Kewanee boiler
business in an 11 U.S.C. Section 363 sale to Coppus Engineering
Corporation.  In early 2009, it sold all of its remaining assets.
The Debtor has no employees, and, Frederick W. Stein is the
Debtor's sole officer and director.  The Debtor's sole remaining
asset is its insurance, and it has no known liabilities other than
asbestos claims.

In January 1970, Kewanee Boiler Corp, then a newly-formed Illinois
Corporation, acquired the assets and debt of American Standard,
Inc.'s commercial boiler manufacturing division known as "Kewanee
Boiler."  The boilers manufactured and sold by Kewanee Boiler were
insulated with asbestos.

Oakfabco sought Chapter 11 protection (Bankr. N.D. Ill. Case No.
16-27062) on Aug. 7, 2015, to resolve its remaining asbestos
claims.  Reed Smith LLP serves as counsel to the Debtor.

The Debtor estimated $10 million to $50 million in assets and debt.


PARTSMAX OF TAMPA: Court Trims Dickerson Claims
-----------------------------------------------
Judge Elizabeth A. Kovachevich of the United States District Court
for the Middle District of Florida, Tampa Division, granted
Community West Bank's ("CWB") Motion to Dismiss, construed as a
Motion for Summary Judgment, as to all claims, except for Count VI
and Count VII, filed by Michael Dale Dickerson.

Dickerson is the guarantor of a business loan which Partsmax of
Tampa Bay, Inc. obtained from CWB.  On March 2, 2009, CWB notified
Dickerson that Partsmax failed to make payments due under the note
evidencing the loan and made demand on Dickerson for all amounts
due under the note, under the terms of the guarantee.  The
guarantee was secured by a Stock Pledge Agreement executed and
delivered by Dickerson individually.

On March 3, 2009, CWB reiterated its previous notice and notified
Dickerson that the failure to comply with the terms of the
guarantee is an event of default under the terms of the Stock
Pledge Agreement.

On April 5, 2009, Dickerson notified CWB of his belief that the
bank has not acted properly and requested an accounting of the
property of Partsmax of Tampa Bay, Inc. turned over to CWB by the
U.S. Bankruptcy Trustee, Lauren Greene.

Between March 29, 2010 and April 4, 2010, CWB instructed Merrill
Lynch, the holder of Dickenson's Pledged Stock Account, to sell all
stock in Dickenson's account and transfer the proceeds to CWB.

Dickenson then pursued claims as to the origination of the subject
loan transaction, the servicing of the subject loan transaction,
and the post-default disposition of the collateral by the CWB.  His
amended complaint included the following counts:

Count I – Fraud in the Inducement
Count II – Fraudulent Misrepresentation
Count III - Negligent Misrepresentation
Count IV - Negligent Supervision
Count V - Respondeat Superior Vicarious Liability
Count VI - Breach of Fiduciary Duty
Count VII – Breach of Contract
Count VIII - Rescission
Count IX - Conversion
Count X - Indemnification
Count XI - Theft
Count XII – Violation of Fair Debt Collection Practices Act

CWB sought dismissal of the case with prejudice, pursuant to
Fed.R.Civ.Proc. Rule 12(b)(6), or the grant of summary judgment in
its favor, pursuant to Rule 56.

After consideration, Judge Kovachevich granted summary judgment to
CWB as to all claims except for Count VI and Count VII as these
claims relate to the disposition of the collateral.

The case is MICHAEL DALE DICKERSON, Plaintiff, v. COMMUNITY WEST
BANK, Defendant, CASE NO. 8:10-CV-729-T-17AEP (M.D. Fla.).

A full-text copy of Judge Kovachevich's August 14, 2015 order is
available at http://is.gd/UexdeCfrom Leagle.com.

Community West Bank is represented by:

          David Eugene Peterson ,Esq.
          Robert F. Higgins, Esq.
          LOWNDES, DROSDICK, DOSTER, KANTOR & REED, PA
          215 North Eola Drive
          Orlando, FL 32801
          Tel: (407) 843-4600
          Email: david.peterson@lowndes-law.com
                 bob.higgins@lowndes-law.com


PATRIOT COAL: Execs Must Sit for Questioning, Judge Rules
---------------------------------------------------------
Jacqueline Palank, writing for The Wall Street Journal, reported
that Judge Keith Phillips of the U.S. Bankruptcy Court in Richmond,
Va., said Patriot Coal Corp. must make its top executives available
for questioning by West Virginia environmental regulators who are
concerned about the coal miner's upcoming sale.

According to the report, at a hearing on Sept. 9, Judge Phillips
denied Patriot's request to quash the subpoenas brought by the West
Virginia Department of Environmental Protection against Chief
Executive Robert Bennett and Chief Operating Officer Michael Day.
Through questioning, the environmental agency's lawyer said it
hopes to address whether Patriot's plan to sell its mines to new
owners and related creditor-payment plan is feasible, the report
related, citing court documents.  Of particular concern is whether
one proposed buyer, the nonprofit Virginia Conservation Legacy
Fund, will be a successful owner and operator of Patriot's Federal
mining complex and related assets, the report further related.

                        About Patriot Coal

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

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

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

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

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

The U.S. trustee overseeing the Chapter 11 case of Patriot Coal
Corp. appointed seven creditors of the company to serve on the
official committee of unsecured creditors.  The Committee is
represented by Morrison & Foerster LLP as its counsel, and
Tavenner
& beran, PLC, as its local counsel.  Jefferies LLC serves as its
investment banker.

The directed the U.S. Trustee to form an official committee of
retirees at the behest of Patriot Coal Non-Union Retiree VEBA.

                        *     *     *

Patriot Coal has filed with the Bankruptcy Court a letter of
intent
for a proposed sale of a substantial majority of its operating
assets to Blackhawk Mining, LLC, as well as a motion outlining
bidding procedures.  Under the terms of the letter of intent,
Blackhawk would issue to Patriot's secured lenders new debt
securities totaling approximately $643 million plus Class B Units
providing them an ownership stake in Blackhawk.  In addition,
Blackhawk would assume or replace surety bonds supporting
reclamation and related liabilities associated with the purchased
assets.


QUIKSILVER INC: Bankruptcy Court Approves $175MM DIP Financing
--------------------------------------------------------------
Quiksilver, Inc. on Sept. 10 disclosed that the United States
Bankruptcy Court for the District of Delaware approved a variety of
First Day Motions related to its voluntary chapter 11
restructuring.  Collectively, the orders granted by the Bankruptcy
Court on either a final or interim basis will help Quiksilver fund
its ongoing operations in the U.S. and abroad throughout the
restructuring process.

The Company's European and Asia-Pacific businesses and operations
remain strong and are not part of the filing.  A majority of the
Company's European bondholders also agreed that the U.S. filing
would not affect their debt obligations.

Among the First Day Motions approved, the Court has authorized, on
an interim basis, Quiksilver immediate access to $115 million of
the $175 million debtor-in-possession ("DIP") financing provided by
affiliates of Oaktree Capital Management, L.P. and Bank of America,
N.A.  The Company anticipates that such financing, in conjunction
with other existing sources of liquidity, will be more than
sufficient to fund its ongoing operations in the U.S. and abroad.

"We are grateful that the Court was able to consider these motions
promptly, and the relief granted ensures we will be able to
continue to operate in ordinary course and deliver on our
commitment to providing customers the same great experience with
our brands and products they have come to expect," said Pierre
Agnes, Chief Executive Officer of Quiksilver.  "We look forward to
implementing our restructuring plan in the U.S. to strengthen the
business and we will emerge a stronger business, better positioned
to grow and prosper into the future."

In addition, the Bankruptcy Court set a hearing date of October 6,
2015 for approval of the Company's Plan Sponsorship Agreement
("PSA") with Oaktree.

Quiksilver will continue to conduct business and serve its
wholesale and retail customers during the restructuring process.
The Company's full line of Quiksilver, Roxy and DC products will
remain available in its stores and online.

                      About Quiksilver

Quiksilver, Inc., designs, produces and distributes branded
apparel, footwear and accessories.  The Company's apparel and
footwear brands, inspired by a passion for outdoor action sports,
represent a casual lifestyle for young-minded people who connect
with its boardriding culture and heritage.  The Company's
Quiksilver, Roxy, and DC brands have authentic roots and heritage
in surf, snow and skate.  The Company's products are sold in more
than 100 countries in a wide range of distribution, including surf
shops, skate shops, snow shops, its proprietary Boardriders shops
and other Company-owned retail stores, other specialty stores,
select department stores and through various e-commerce channels.
For additional information, please visit the Company's brand Web
sites at www.quiksilver.com, www.roxy.com and www.dcshoes.com

Quiksilver, Inc., and its affiliates filed Chapter 11 bankruptcy
petitions (Bankr. D. Del., Case Nos. 15-11880 to 15-11890) on Sept.
9, 2015.  Andrew Bruenjes signed the petition as chief financial
officer.  The Debtors disclosed total assets of $337 million and
total debts of $826 million.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as the Debtors'
legal advisor, FTI Consulting, Inc. as their restructuring advisor,
and Peter J. Solomon Company as their investment banker.  Kurtzman
Carson Consultants LLC acts as the Debtors' claims and noticing
agent.


QUIKSILVER INC: Gets Interim Approval to Conduct Store Closings
---------------------------------------------------------------
Hon. Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware gave Quiksilver, Inc., et al., interim
authority to continue closing their stores at 27 locations and
assume a "pop up store" agreement until Oct. 6, 2015.

The judge held that the conduct of the sales will provide an
efficient means for the Debtors to dispose of their assets.

A list of the 27 Store Closing Locations are as follows:

    Store Name                              City/State
    ----------                              ----------
    Quiksilver - Universal CityWalk         Universal City, CA
    Quiksilver - South Coast Plaza          Costa Mesa, CA
    Quiksilver - Times Square               New York, NY
    Quiksilver-Hollywood, FL                Hollywood, FL
    DC - Irvine Spectrum                    Irvine, CA
    Quiksilver - Seattle                    Seattle, WA
    Roxy - Fashion Island                   Newport Beach, CA
    Quiksilver - Del Amo                    Torrance, CA
    Waterman - Waikiki Beach Walk           Honolulu, HI
    Quiksilver Glendale                     Glendale, CA
    Boardriders Meatpacking                 New York, NY
    Boardriders Pasadena                    Pasadena, CA
    Quiksilver Outlet - Lakewood            Lakewood, CO
    DC Outlet - Pismo                       Pismo Beach, CA
    DC Outlet - El Paso                     Canutillo, TX
    DC Outlet - Gilroy                      Gilroy, CA
    DC Outlet - Lauglin                     Laughlin, NV
    DC Outlet - Dophin Mall                 Miami, FL
    DC Outlet - Katy Mills                  Katy, TX
    Quiksilver Outlet - Miromar             Estero, FL
    Quiksilver Outlet - Chicago             Rosemont, IL
    Quiksilver Outlet - Silver Sands        Destin, FL
    Quiksilver Outlet - Great Lakes         Auburn Hills, MI
    Quiksilver Outlet - Annapolis           Annapolis, MD
    Quiksilver Outlet - Charlotte           Charlotte, NC
    Quiksilver Outlet - Woodbury            Central Valley, NY
                        Commons
    Quiksilver Outlet - North               Dawsonville, GA
    Georgia Premium Outlets

All sales will be "as is" and final.

On an interim basis, the Debtors are also authorized to pay store
closing bonuses to store-level and certain field employees who
remain employed by the Debtors during the Sales.  The Debtors will
have the authority to determine the amounts of each Store Closing
Bonus, except that the total aggregate cost of the Store Closing
Bonus program will not exceed 10% of the base payroll, including
taxes and typical benefits, for all employees working at the
Stores.

Prior to the Petition Date, the Debtors undertook efforts to cut
costs, streamline operations, and increase profitability.  In
particular, as part of the Company's multi-year turnaround plan
that was first launched in 2013, management spent considerable time
on a plan to rationalize the Company's retail store base,
particularly in the United States.  The Debtors' management, with
the assistance of their advisors, performed a comprehensive review
of the performance of each store and the market in which the
Debtors operate.  As a culmination of those efforts, the Company
developed a store closing plan.

On June 8, 2015, QS Retail, Inc. and Hilco Merchant Resources, LLC
and Gordon Brothers Retail Partners, LLC, as agent, entered into
the "Pop Up Store" Agreement for sale of certain excess inventory.
The Agent began those sales in July of 2015.  As of the Petition
Date, the Debtors have opened 24 Pop Up Stores, with 23 stores
still in operation.  The Debtors have entered into six
additional short-term license agreements for which Pop Up Stores
have not opened.

On. Sept. 4, 2015, QS Retail and the Agent entered into an
agreement to close underperforming or unprofitable retail stores.
The Agent officially began the Store Closing Sales at the Store
Closing Locations on Sept. 6, 2015.

A hearing will be held on Oct. 6 to consider final approval of the
Motion.  Objections are due Sept. 29.

A copy of the Interim Sale Order is available for free at:

  http://bankrupt.com/misc/72_QUIKSILVER_ClosingInterimOrd.pdf

                         About Quiksilver

Quiksilver, Inc., designs, produces and distributes branded
apparel, footwear and accessories.  The Company's apparel and
footwear brands, inspired by a passion for outdoor action sports,
represent a casual lifestyle for young-minded people who connect
with its boardriding culture and heritage.  The Company's
Quiksilver, Roxy, and DC brands have authentic roots and heritage
in surf, snow and skate.  The Company's products are sold in more
than 100 countries in a wide range of distribution, including surf
shops, skate shops, snow shops, its proprietary Boardriders shops
and other Company-owned retail stores, other specialty stores,
select department stores and through various e-commerce channels.
For additional information, please visit the Company's brand Web
sites at www.quiksilver.com, www.roxy.com and www.dcshoes.com.

Quiksilver began operations in 1976 as a California company
making boardshorts for surfers in the United States under a license
agreement with the Quiksilver brand founders in Australia. The
Company later reincorporated in Delaware and went public in 1986.

In fiscal year 2014 (ended Oct. 31, 2014), 34% of the Company's
revenue was generated by the Debtors, within the United States. The
remaining 66% is attributable to the Non-Debtor Affiliates located
outside the United States.

Sales at Company retail stores accounted for approximately
28% of Company revenue during fiscal year 2014.  The Company's
retail shops include full-price stores, factory outlet stores, and
"shop-in-shops."  At the end of the fiscal year 2014, the
Company had approximately 266 full-price core brand stores, of
which 75 are located in the United States.

Quiksilver, Inc., and its affiliates filed Chapter 11 bankruptcy
petitions (Bankr. D. Del., Case Nos. 15-11880 to 15-11890) on Sept.
9, 2015. Andrew Bruenjes signed the petition as chief financial
officer.  The Debtors disclosed total assets of $337 million and
total debts of $826 million.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as the Debtors'
legal advisor, FTI Consulting, Inc. as their restructuring advisor,
and Peter J. Solomon Company as their investment banker.  Kurtzman
Carson Consultants LLC acts as the Debtors' claims and noticing
agent.


QUIKSILVER INC: Seeks Approval of Oaktree Plan Sponsor Agreement
----------------------------------------------------------------
Quiksilver, Inc. and its debtor affiliates ask permission from the
U.S. Bankruptcy Court for the District of Delaware to assume a plan
sponsor agreement with certain funds managed by affiliates of
Oaktree Capital Management, L.P., which collectively hold 73% of
the Debtors' outstanding U.S. Secured Notes.

The plan sponsor agreement provides a blueprint for the Debtors to
navigate through the reorganization process.

The Debtors seek to assume the PSA in accordance with its terms to
ensure that the agreement will continue to be valid and enforceable
against the Plan Sponsor as their Chapter 11 cases move swiftly
towards plan solicitation and confirmation.  Absent assumption of
the PSA by Oct. 9, 2015, the Plan Sponsor may terminate the PSA
pursuant to its terms.

According to the Debtors, the PSA is premised upon the fact that
they need a balance sheet restructuring; and a chapter 11 process,
without a clear path forward, risks erosion of the value of the
Debtors' estates and would reduce the recoveries available to
creditors.

Under the PSA, the Plan Sponsor is agreeing to vote the full value
of its claims in favor of a restructuring which would impair and
equitize its claim, and is committing to backstop two further
rights offerings, of $122.5 million and EUR50 million, in order to
provide liquidity to fund certain obligations of the Debtors upon
emergence from these Chapter 11 Cases.

"Without a committed plan sponsorship combined with
debtor-in-possession financing from the DIP Lenders, and the
resulting capital infusion and backstop contemplated to be provided
by the Plan Sponsor, the Debtors would have no clear exit path, and
insufficient liquidity to run anything other than an expedited sale
process, potentially by way of an auction," relates Van C. Durrer,
II, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, attorney to
the Debtors.  "Furthermore, absent a carefully constructed plan to
exit the bankruptcy process, the Debtors also risk action by
overseas creditors, including holders of certain notes issued by
the Debtors' European affiliates, which would further reduce value
available to satisfy claims of the Debtors' U.S. creditors," he
adds.

The proposed plan of reorganization contemplated in the PSA will
provide for the payment in full of all administrative expenses and
allowed priority claims consistent with Section 1129 of the
Bankruptcy Code.  Holders of allowed secured note claims will
receive new common stock in an amount to be set forth in the Plan,
in a value which will fall short of the amount of such holder's
allowed secured claim.  Holders of allowed unsecured claims will
receive an allocated portion of $7.5 million in cash proceeds,
which will be funded by the Debtors' exit rights offering.  Holders
of guaranty claims based upon certain Debtors' guarantees of the
Euro Note obligations will have those claims reinstated and
rendered unimpaired in accordance with Section 1124 of the
Bankruptcy Code.

Assumption of the PSA affords the Plan Sponsor a measure of
protections, by affording administrative priority expense status
for the Debtors' limited financial obligations to the Plan Sponsor
under the PSA and by making the PSA a contractual obligation of the
estates.  

The Debtors also intend to file a separate motion in the near term
requesting approval of a backstop commitment from the Plan Sponsor,
on terms substantially similar to those terms set forth in the PSA.
Consummation of the transactions contemplated in the PSA is
contingent upon confirmation and effectiveness of the Plan.

A summary of the key terms of the PSA is available for free at:

       http://bankrupt.com/misc/25_QUIKSILVER_PlanSponsor.pdf

                          About Quiksilver

Quiksilver, Inc., designs, produces and distributes branded
apparel, footwear and accessories.  The Company's apparel and
footwear brands, inspired by a passion for outdoor action sports,
represent a casual lifestyle for young-minded people who connect
with its boardriding culture and heritage.  The Company's
Quiksilver, Roxy, and DC brands have authentic roots and heritage
in surf, snow and skate.  The Company's products are sold in more
than 100 countries in a wide range of distribution, including surf
shops, skate shops, snow shops, its proprietary Boardriders shops
and other Company-owned retail stores, other specialty stores,
select department stores and through various e-commerce channels.
For additional information, please visit the Company's brand Web
sites at www.quiksilver.com, www.roxy.com and www.dcshoes.com.

Quiksilver began operations in 1976 as a California company making
boardshorts for surfers in the United States under a license
agreement with the Quiksilver brand founders in Australia. The
Company later reincorporated in Delaware and went public in 1986.

In fiscal year 2014 (ended Oct. 31, 2014), 34% of the Company's
revenue was generated by the Debtors, within the United States. The
remaining 66% is attributable to the Non-Debtor Affiliates located
outside the United States.

Sales at Company retail stores accounted for approximately 28% of
Company revenue during fiscal year 2014.  The Company's retail
shops include full-price stores, factory outlet stores, and
"shop-in-shops."  At the end of the fiscal year 2014, the Company
had approximately 266 full-price core brand stores, of which 75 are
located in the United States.

Quiksilver, Inc., and its affiliates filed Chapter 11 bankruptcy
petitions (Bankr. D. Del., Case Nos. 15-11880 to 15-11890) on Sept.
9, 2015. Andrew Bruenjes signed the petition as chief financial
officer.  The Debtors disclosed total assets of $337 million and
total debts of $826 million.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as the Debtors'
legal advisor, FTI Consulting, Inc. as their restructuring advisor,
and Peter J. Solomon Company as their investment banker.  Kurtzman
Carson Consultants LLC acts as the Debtors' claims and noticing
agent.


RAILYARD COMPANY: Files Schedules of Assets and Liabilities
-----------------------------------------------------------
Railyard Company, LLC filed with the Bankruptcy Court its schedules
of assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $13,000,000
  B. Personal Property              $852,140
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $10,041,387
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $140,777
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $1,039,201
                                 -----------      -----------
        TOTAL                    $13,852,140      $11,221,366

A copy of the Schedules filed together with the petition is
available for free at:

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

Railyard separately filed with the Court a Rule 2015.3 periodic
report regarding the value, operations, and profitability of
entities in which the estate of the Debtor holds a substantial or
controlling interest.  Richard Jaramillo, managing member of the
Debtor, attests to the Court that as of Sept. 4, 2015, the Debtor
does not hold a substantial or controlling interest in any entity.

A copy of the Rule 2015.3 Report is available for free at:

      http://bankrupt.com/misc/5_RAILYARD_2015.3Report.pdf

Railyard Company, LLC filed a Chapter 11 petition (Bankr. D. N.M.
Case No. 15-12386) on Sept. 4, 2015.  The petition was signed by
Richard Jaramillo as managing member.  The Debtor is represented by
William F. Davis, Esq., at William F. Davis & Associates, P.C., as
counsel.


RAILYARD COMPANY: Hires William F. Davis & Assoc. as Attorneys
--------------------------------------------------------------
Railyard Company, LLC seeks authority from the U.S. Bankruptcy
Court for the District of New Mexico to employ William F. Davis &
Assoc., P.C. as its counsel.  The firm will, among other things:

   (a) represent and render legal advice to the Debtor regarding
       all aspects of the bankruptcy case, including, without
       limitation, the continued operation of the Debtor's
       business, meetings of creditors, claims objection,
       adversary proceedings, plan confirmation and all hearings
       before the Court;

   (b) prepare on behalf of the Debtor necessary petitions,
       answers, motions, applications, orders, reports and other
       legal papers, including the Debtor's plan of reorganization
       and disclosure statement;

   (c) assist the Debtor in taking actions required to effect
       reorganization under Chapter 11 of the Bankruptcy Code; and

   (d) perform all legal services necessary for the Debtor's
       continued operation.

To the best of the Debtor's knowledge, attorneys at William F.
Davis & Assoc. have no connection with it, its creditors or any
other party-in-interest.

The Debtor desires to pay the firm at the hourly rate of $300 for
William F. Davis, Esq., $225 for Andrea DS Woody, Esq., $200 for
Nephi D. Hardman, Esq., $175 for Christopher D. Dvorak, Esq., $105
for paralegal, plus costs, expenses and applicable taxes.

The firm acknowledged receipt of $25,000 initial retainer from the
Debtor.

Railyard Company, LLC filed a Chapter 11 petition (Bankr. D. N.M.
Case No. 15-12386) on Sept. 4, 2015.  The petition was signed by
Richard Jaramillo as managing member.  The Debtor is represented by
William F. Davis, Esq., at William F. Davis & Associates, P.C., as
counsel.


RAILYARD COMPANY: Section 341 Meeting Set for October 8
-------------------------------------------------------
A meeting of creditors in the bankruptcy case of Railyard Company,
LLC, will be held on Oct. 8, 2015, at 9:30 a.m. at Albuquerque: 500
Gold Ave SW, Room 12411.

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

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

Railyard Company, LLC filed a Chapter 11 petition (Bankr. D.N.M.,
Case No. 15-12386) on Sept. 4, 2015.  The petition was signed by
Richard Jaramillo as managing member.  The Debtor is represented by
William F. Davis, Esq., at William F. Davis & Associates, P.C., as
counsel.


RECORDING ARTS: S&P Assigns 'B' Rating on Revenue Refunding Bonds
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' rating to the
St. Paul Housing & Redevelopment Authority, Minn.'s lease revenue
refunding bonds, series 2015A, and taxable lease revenue refunding
bonds, series 2015B, issued for the Recording Arts High School, in
St. Paul.  The outlook is stable.

"The rating reflects our opinion of the High School for Recording
Arts' (HSRA) weak, though improving operating performance resulting
in lease-adjusted pro forma maximum annual debt service (MADS)
coverage of 0.58x and limited liquidity position with approximately
20 days' cash on hand as of fiscal 2014," said Standard & Poor's
credit analyst Ashley Ramchandani.  "The 'B' rating and stable
outlook further reflect our view of HSRA's long operating history,
differentiated niche, and healthy demand profile," she added.

Originally a pilot program developed by a St. Paul-based recording
studio, Studio 4 Enterprises, in December 1996, HSRA Arts was
incorporated in 1998 with its approval as an independent charter
school district by the Minnesota Department of Education, and
opened for instruction that same year with 230 students in grades
nine through 12.  Now in the school's second year at its new
facility, enrollment for the 2014-15 school year ended with 299
students enrolled and average daily membership was approximately
280.

The stable outlook reflects S&P's anticipation that, during the
one-year outlook period, the academy will generate operations on a
full-accrual basis such that the academy meets coverage covenants
and, at minimum, maintains current liquidity and enrollment levels.
The outlook also assumes that any renovations to facilities would
not strain the school's current operations or cash position and
will not require the issuance of any additional debt.



REHOBOTH MCKINLEY: Fitch Maintains 'B' Bonds Rating on Watch Neg
----------------------------------------------------------------
Fitch Ratings maintains its Rating Watch Negative on these revenue
bonds issued by the New Mexico Hospital Equipment Loan Council on
behalf of Rehoboth McKinley Christian Health Care Services, Inc.,
which are currently rated 'B'.

   -- $5.6 million hospital facility improvement and refunding
      revenue bonds, series 2007A.

SECURITY

The bonds are secured by a pledge of revenues and equipment and a
debt service reserve fund.

KEY RATING DRIVERS

POSSIBILITY OF ACCELERATION OF DEBT: The Negative Watch reflects
the possibility of a demand for repayment by bondholders as remedy
in response to Rehoboth's violation of its rate covenant in fiscal
2014, which triggered an Event of Default under the Master Trust
Indenture.  Management, through the Trustee, is working to secure a
Forbearance Agreement with bondholders and bring the corporation
back into compliance with its financial covenants.  At this time,
Rehoboth is current with all loan and lease payments and has not
drawn on the debt service reserve fund.

IMPROVED INTERIM RESULTS: Through the six month interim period
ended June 30, 2015, Rehoboth has generated a sharp improvement in
profitability.  Excluding approximately $1.1 million of tax
revenues that are not available for debt service, Rehoboth
generated a 2.0% operating margin and a 6.8% operating EBITDA
margin compared to a negative 5.8% operating margin and a negative
0.5% operating EBITDA margin in the prior year period.  Debt
service coverage by EBITDA through the interim period is a solid
4.3x.

POSSIBLE SALE : The Board of Trustees had entered into a Letter of
Intent (LOI) to sell the assets of Rehoboth to Healthcare Integrity
LLC of Bonham, TX on June 10, 2014, which provided for a 120-day
due diligence period.  Healthcare Integrity has exercised its
option and is pursuing the purchase of Rehoboth; however, there is
not an executed agreement at this time.  Fitch has not been
provided the terms of the purchase option.

RATING SENSITIVITIES

EXECUTION OF A FOREBEARANCE AGREEMENT: The maintenance of the
Negative Watch reflects the uncertainty surrounding successful
negotiation by Rehoboth McKinley Christian Health System of a
forbearance agreement with its bondholders.  While the improved
interim results would indicate a favorable outcome with no
acceleration of the outstanding debt, future rating action,
including the removal from Rating Watch, is contingent on
negotiations between Rehoboth and bondholders.

EXECUTED SALE AGREEMENT: Depending on the final terms and
conditions, a sale agreement could result in the refunding of
Rehoboth's outstanding series 2007A bonds.

CREDIT PROFILE

Rehoboth McKinley Health Care Services, Inc. is a 69-bed general
acute care hospital located in Gallup, NM (138 miles west of
Albuquerque, NM and 180 miles east of Flagstaff, AZ).  Total
operating revenue in fiscal 2014 was $48.2 million.



RESIDENTIAL CAPITAL: Amended Moss Claim Expunged
------------------------------------------------
Judge Martin Glenn of the United States Bankruptcy Court for the
Southern District of New York, sustained the objection filed by
ResCap Borrower Claims Trust against Amended Claim Number 4445,
filed by Alan Moss.

Judge Glenn likewise disallowed and expunged the Amended Claim.

The Amended Claim is based on a California state court action that
Moss filed against Debtor Executive Trustee Services, LLC, before
it filed for bankruptcy. The Amended Claim asserts causes of action
sounding in negligence, fraud, and intentional infliction of
emotional distress based on ETS filing allegedly improper notices
pursuant to California's non-judicial foreclosure scheme in
connection with a foreclosure on Moss's home. Moss alleges that the
substitution of trustee appointing ETS as substitute trustee was
invalid because the entity substituting ETS as trustee had not yet
acquired rights under the applicable deed of trust when it executed
the substitution. Acting on the basis of the substitution, ETS
filed notices of default that ultimately resulted in the
non-judicial foreclosure sale of Moss's property. The sale was
later vacated and Moss remains in possession of the property.

Judge Glenn relates that California law provides a qualified
privilege for acts of a trustee unless the trustee acted with
malice. He held that California's qualified common interest
privilege applies to the notices issued by ETS because Moss fails
to allege facts supporting a reasonable inference that ETS acted
with malice.

The case is In re: RESIDENTIAL CAPITAL, LLC, et al., Chapter 11,
Debtors, Case No. 12-12020 (MG), Jointly Administered.

A full-text copy of Judge Martin Glenn's Memorandum Opinion And
Order Sustaining The Rescap Borrower Claims Trust's Objection To
Amended Claim No. 4445 Filed By Alan Moss, dated August 24, 2015 is
available at http://is.gd/M7p8gBfrom Leagle.com

Rescap Borrower Claims Trust is represented by:

          Norman S. Rosenbaum, Esq.
          Jordan A. Wishnew, Esq.
          Jessica J. Arett, Esq.
          MORRISON & FOERSTER LLP
          250 West 55th Street
          New York, NY 10019-9601
          Telephone: (212)468-8000
          Facsimile: (212)468-7900
          Email: nrosenbaum@mofo.com
                 jwishnew@mofo.com
                 jarett@mofo.com

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012. Neither Ally
Financial nor Ally Bank is included in the bankruptcy filings.

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

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

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

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

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

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


RESPONSE GENETICS: BDO USA May Provide Auditing Services
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware, according
to Response Genetics, Inc.'s case docket, authorized the Debtor to
employ BDO USA, LLP, to provide limited assurance services.

BDO USA is expected to provide these services:

   1. Q2 2015 Financial Statement Review: BDO will perform a review
of the unaudited condensed quarterly consolidated financial
statement for the quarter ended June 30, 2015.

   2. Form 8-K Review: In connection with the sale to the stalking
horse buyer, BDO will review the Form 8-K that such stalking horse
buyer will be required to file with the Securities and Exchange
Commission.

Gary Raikin, a partner of BDO, says BDO's compensation for review
of the unaudited condensed quarterly consolidated financial
statement for the quarter ended June 30, 2015 will be a flat fee of
$70,000, paid upon entry of the order approving its employment.

BDO's compensation for the services relating to the Form 8-K will
be a flat fee of $50,000, which will be paid to BDO prior to BDO
commencing such services.

BDO will also bill the Debtor for out-of-pocket expenses and
internal charges for certain support activities.

The $120,000 of fees for BDO's services will be funded out of the
stalking horse buyer's deposit with the consent of such buyer.  The
stalking horse buyer will have no right to get reimbursed for such
amount even if the stalking horse buyer is overbid, unless the over
bidder requests the same information and consent from BDO, in which
case the over bidder will pay 50% of such fees (i.e., $60,000),
which amount will then go to the stalking horse bidder.

Mr. Raikin assures the Court that BDO is a "disinterested person"
as that term is defined in Section 101(14) of the Bankruptcy Code.

                      About Response Genetics

Los Angeles, California-based Response Genetics, Inc. (otcqb:RGDX)
-- http://www.responsegenetics.com-- is a CLIA-certified clinical
laboratory focused on the development and sale of molecular
diagnostic testing services for cancer.  The Company's technologies
enable extraction and analysis of genetic information derived from
tumor cells stored as formalin-fixed and paraffin-embedded
specimens.  The Company's principal customers include oncologists
and pathologists.  In addition to diagnostic testing services, the
Company generates revenue from the sale of its proprietary
analytical pharmacogenomic testing services of clinical trial
specimens to the pharmaceutical industry.  

Response Genetics, fdba Bio Type, Inc., filed for Chapter 11
bankruptcy (Bankr. D. Del. Case No. 15-11663) on Aug. 9, 2015,
represented by James E. O'Neill, Esq., at Pachulski Stang Ziehl &
Jones LLP.  Canaccord Genuity, Inc., serves as its investment
banker; and Rust Consulting Omni Bankruptcy acts as its claims and
noticing agent.  

The Company disclosed total assets of $10.7 million and total debts
of $15.7 million.  The petition was signed by Thomas Bologna,
chairman and chief executive officer.

                           *     *     *

Response Genetics has executed a "stalking horse" agreement to
sell all of its business assets to Cancer Genetics, Inc. for
$14,000,000, comprised of a 50/50 split in value of cash and the
common stock of CGI.

CGI is represented by Kramer Levin Naftalis & Frankel LLP's James
A. Grayer, Esq.


RESPONSE GENETICS: Gets Court Nod to Implement Incentive Plan
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware (i) approved
Response Genetics, Inc.'s key employee incentive plan and (ii)
authorized payments thereunder.

The Court's order, among other things, provides that:

   1. The KEIP has been revised to (a) eliminate the contingent
addition to the Insider Bonus Pool (i.e., the increase to the
Insider Bonus Pool by 20% of every dollar by which the actual
recovery received by the DIP Lenders from the sale exceeds
$10,540,585), (b) increase the Insider Bonus Pool by $125,000 and
such increased amount shall be shared evenly between the Insider
Eligible Employees upon closing of the sale, and (c) the original
amount of the Insider Bonus Pool will be shared among
the Eligible Employees as proposed in the motion upon the closing
of the sale.

   2. In the event that secured creditor Silicon Valley Bank -- in
its capacity as a lender under that Loan and Security Agreement
dated July 26, 2011 -- is not repaid in full from the proceeds of
the sale, then (a) the $125,000 being added to the Insider Bonus
Pool will be allocated as having been paid solely from the proceeds
of Term Loan Priority Collateral; and (b) all other KElP payments
shall be allocated as having been paid, as between proceeds of
Revolving Loan Priority Collateral and Term Loan Priority
Collateral, in the same percentage as the total proceeds from the
Sale are allocated as between the Revolving Loan Priority
Collateral and Term Loan Priority Collateral.

   3. Payment under the KEIP will constitute administrative
expenses of the Debtor's estate.

SVB objected to the Debtor's motion for the approval of KEIP,
stating that the motion failed to address the source of the
payments or, if cash collateral is to be used, whose cash
collateral will be used.  SVB stressed that the matter must be
addressed given that Debtor's assets are pledged to SVB and SWK
Funding LLC, with each secured lender having different priority
collateral.  Further, any potential increase in incentive payments
to the insider employees tied to SWK's recovery from the sale of
Debtor's assets should come solely from SWK's collateral, since
SWK, and not SVB, will benefit from the increase.

As reported in the Troubled Company Reporter on Sept. 2, 2015, the
Debtor said that the KEIP covers two tiers of employees:

     (1) 17 current rank and file non-insider employees of the
Debtor, and

     (2) two existing officers of the Debtor, Chief Executive
Officer Thomas A. Bologna and Chief Financial Officer Kevin
Harris.

The Debtor believes the Eligible Employees are absolutely critical
to the Sale process and their best efforts are required to maximize
the value of the assets.  The Non-Insider Eligible Employees
include key division vice presidents, technicians,
supervisors, and sales representatives of the Debtor.

The KEIP contains, among others, the following terms:

     (a) Upon closing of the sale, the Non-Insider Eligible
Employees will share an aggregate payment in an amount of up to
$318,886.  Each Non-Insider Eligible Employee will receive a
portion of the Non-Insider Bonus Pool, subject to the terms of the
KEIP.  To the extent that a Non-Insider Eligible Employee is not
eligible to receive his or her share from the Non-Insider Bonus
Pool, unless otherwise agreed to by the DIP Agent, the Non-Insider
Bonus Pool will be reduced by an amount equal to the amount
allocated to such Non-Insider Eligible Employee.

     (b) Upon closing of the Sale, the Insider Eligible Employees
will share in an aggregate payment in an amount of up to $289,698.
The Insider Bonus Pool will be increased by 20% of every dollar by
which the actual recovery received by the DIP Lenders from the sale
purchaser in respect of the asset purchase agreement governing the
sale exceeds $10,540,585.  The Insider Eligible Employees will
receive a portion of the Insider Bonus as set forth in the KEIP.
To the extent that an Insider Eligible Employee is not eligible to
receive his share from the Insider Bonus Pool, unless otherwise
agreed to by the DIP Agent, the Insider Bonus Pool will be reduced
by an amount allocated to such Insider Eligible Employee.

     (c) The Eligible Employees must be employed by the Debtor
through the closing of the Sale in order to be eligible to receive
the incentive payments earned. The incentive payments will be paid
on the closing date of the Sale. However, if an Eligible Employee's
employment with the Company is terminated without cause, or due to
death or disability, prior to the closing date of the Sale, then
such Eligible Employee will be entitled to receive any payments
that would have become due under the KEIP had the Eligible Employee
been employed through such closing date. Each Eligible Employee is
entitled to payment out of the respective bonus pool even if such
Eligible Employee is rehired by the Purchaser.

     (d) The payments under the KEIP will be in lieu of any other
performance bonus, retention or severance compensation otherwise
payable to the Eligible Employees by the Debtor. Payment of any
KEIP amounts is further subject to any and all terms, conditions,
and limitations regarding such payments set forth in the Interim
DIP Order, the DIP Credit Facility Documents and the other
documents governing the Debtor's postpetition financing obtained
from the DIP Agent and DIP Lenders.

James E. O'Neill, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware, tells the Court that under the exigent
circumstances present, the Debtor requires the focused and
committed services of the Eligible Employees to close the Sale.  He
further told the Court that under the terms of the KEIP, the
Eligible Employees will be paid an incentive payment only if the
Sale is consummated.  Mr. O'Neill contends that the Debtor has
determined in the exercise of its sound business judgment that it
is in the best interests of its estate to institute the KEIP for
the Eligible Employees.

                Objections to the Debtor's Motion

Andrew R. Vara, the Acting United States Trustee for Region 3,
objected to the Debtor's Motion, arguing that the Debtor has failed
to carry its burden of establishing that the KEIP is primarily
incentivizing. He further contends that the KEIP is nothing more
than a retention plan to compensate two senior executives for being
present at the close of a sale of the Debtor's assets.

SWK Funding LLC also objected to the Debtor's motion.  SWK --
represented by Scott D. Cousins, Esq., at Bayard, P.A., in
Wilmington, Delaware and Brian Smith, Esq., at Holland & Knight
LLP, in Dallas, Texas -- said the DIP Financing Documents state
that any KEIP payments must be made pursuant to a key employee
incentive plan that is subject to approval by SWK in its sole
discretion.  The counsel said the proposed KEIP is not acceptable
to SWK in its current form. They related that the KEIP proposes to
pay its Insider Eligible Employees from and Insider Bonus Pool that
will be increased by 20% of the amount by which SWK's recovery
exceeds a specified threshold. They argued that the KEIP does not
sufficiently describe how this "20%" enhancement to the Insider
Bonus Pool will be calculated and determined.  They asserted that
because the KEIP is not acceptable to SWK, the Debtor may not make
any KEIP payments.

SVB is represented by:

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

              - and -

         Leo D. Plotkin, Esq.
         LEVY, SMALL & LALLAS
         A Partnership Including Professional Corporations
         815 Moraga Drive
         Los Angeles, CA 90049
         Tel: (310) 471-3000
         Fax: (310) 471-7990
         E-mail: lplotkin@lsl-la.com

                      About Response Genetics

Los Angeles, California-based Response Genetics, Inc. (otcqb:RGDX)
-- http://www.responsegenetics.com-- is a CLIA-certified clinical
laboratory focused on the development and sale of molecular
diagnostic testing services for cancer.  The Company's technologies
enable extraction and analysis of genetic information derived from
tumor cells stored as formalin-fixed and paraffin-embedded
specimens.  The Company's principal customers include oncologists
and pathologists.  In addition to diagnostic testing services, the
Company generates revenue from the sale of its proprietary
analytical pharmacogenomic testing services of clinical trial
specimens to the pharmaceutical industry.  

Response Genetics, fdba Bio Type, Inc., filed for Chapter 11
bankruptcy (Bankr. D. Del. Case No. 15-11663) on Aug. 9, 2015,
represented by James E. O'Neill, Esq., at Pachulski Stang Ziehl &
Jones LLP.  Canaccord Genuity, Inc., serves as its investment
banker; and Rust Consulting Omni Bankruptcy acts as its claims and
noticing agent.  

The Company disclosed total assets of $10.7 million and total debt
of $15.7 million.  The petition was signed by Thomas Bologna,
chairman and chief executive officer.

The U.S. Trustee appointed three creditors to serve on the official
committee of unsecured creditors.  The Committee tapped to retain
Nagler Law Group PS as its counsel.


RIVERWALK JACKSONVILLE: Files First Amendment to Alliance PSA
-------------------------------------------------------------
Riverwalk Jacksonville Development, LLC, filed with the U.S.
Bankruptcy Court for the Southern District of Florida a first
amendment to its purchase and sale agreement with Alliance Realty
Partners, LLC.

The amendment to the APA provides that:

   (1) the parties acknowledge the buyer's right to terminate the
agreement expired on Aug. 31, 2015;

   (2) if the buyer does not terminate the agreement by the
cancellation deadline, then the buyer will be deemed to accept the
condition of the property and waives its right to terminate the
agreement; however, if buyer does not terminate the contract by the
cancellation deadline, then notwithstanding the foregoing, the
seller grants to the buyer until Sept. 30, 2015, solely for the
purpose of obtaining and investigating environmental and
geotechnical assessments and studies of soils on, in, or around the
property.

A full-text copy of the First Amendment APA is available for free
at:

  http://bankrupt.com/misc/Riverwalk_219_156_amendedAPA_EXH.pdf

As reported by The Troubled Company Reporter, the Debtor sought and
obtained approval of its contract for sale to Alliance, as well as
authorization for the sale of a portion of the Debtor's real
property.

The real property subject of the sale consists of two parcels of
land, which are both tracts of land comprised of a portion of the
Isaac Hendricks Grant, Section 44, Township 2 South, Range 26 East,
Jacksonville, Duval County, Florida.

The Debtor was authorized to sell the real property to Alliance on
an "as is where is" basis, without warranties or representations,
except that Alliance will purchase the property free and clear of
all liens, claims and encumbrances, with all liens, claims and
encumbrances to attach to the proceeds of the sale.  The Debtor's
Manager, Stevan J. Pardo, was also authorized to execute and
deliver all necessary documents and instruments on behalf of the
Debtor, as seller, to consummate the sale of the property to
Alliance, and granted him legal power, right and authority to bind
the Debtor, as seller, under the terms  and conditions set forth in
the Contract.

Sabadell United Bank, N.A., previously filed an objection to the
Debtor's Sale Motion, but withdrew it at the hearing.

             About Riverwalk Jacksonville Development

Riverwalk Jacksonville Development, LLC, owns four parcel of real
property located in areas surrounding the Wyndham Hotel and
Convention Center.  The properties comprise approximately 10.4
acres and constitute prime downtown commercial space.  The
occupants of the area are a Chart House restaurant, various office
building and parking amenities.  Three of the four properties are
encumbered to Sabadell and U.S. Century Bank.

Riverwalk Jacksonville Development filed a Chapter 11 bankruptcy
(Bankr. S.D. Fla. Case No. 14-19672) on April 28, 2014, in Miami.
The Debtor estimated assets of at least $10 million and debts of
at
least $1 million.  Geoffrey S. Aaronson, Esq., at Aaronson Schantz
P.A., serves as the Debtor's counsel.  Judge Laurel M Isicoff
oversees the case.


RUBY TUESDAY: S&P Affirms 'B-' Corp Credit Rating, Outlook Stable
-----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-' corporate
credit rating on the Maryville, Tenn.-based Ruby Tuesday Inc.  The
outlook is stable.  At the same time, S&P affirmed its 'B-'
issue-level rating on the company's unsecured senior notes.  The
'3' recovery rating remains unchanged, indicating S&P's expectation
for meaningful recovery, toward the high end of 50% to 70% range,
in the event of a payment default or bankruptcy.

"The affirmation reflects our expectation that the company's
liquidity will remain adequate with modestly positive free
operating cash flow and adequate covenant headroom for the next 12
months." said credit analyst Mathew Christy. "Our view of Ruby
Tuesday’s financial risk has improved on the expectation for flat
to modestly improving credit metrics, but we also believe the
company remains weaker than higher rated peers, reflecting a weaker
relative position in the restaurant industry, history of volatile
credit metrics, shifting brand strategies that has confused core
customers, and the continued decline in customer traffic."

The stable rating outlook on Ruby Tuesday Inc. reflects S&P's
expectation that credits metrics will remain in line with fiscal
2015 and for adequate liquidity amid a forecast for a continued
decline in revenue, restaurant closures, and customer traffic
trends that remain weak.

S&P could lower its rating if it believes the company's debt burden
is unsustainable and free cash flow turned negative, using
liquidity.  This could occur if operating margins fall in excess of
200 bps and revenue declines in excess of 3%, resulting in EBITDA
declining more than 20%. In this scenario, adjusted leverage would
be in the high-5x range.

S&P could raise its rating if the company continues to improve
operating performance, perhaps through consistent revenue and same
restaurant sales growth in conjunction with sustaining recent
margin gains.  A scenario of sustainable positive sales growth of
about 2% and margin improvement greater than 30 bps could lead to
adjusted leverage in the mid- to low-4x area and an upgrade.



SAVIENT PHARMACEUTICALS: Securities Fraud Action Dismissed
----------------------------------------------------------
Judge Gregory M. Sleet of the United States District Court for the
District of Delaware granted Louis Ferrari, et. al.'s motion to
dismiss the amended complaint for securities fraud filed by Matz
Johansson.

Defendants Louis Ferrari, et. al., were the former directors and
officers of Savient Pharmaceuticals.

Johansson contends that two categories of disclosures in the April,
May, and August 2013 SEC filings ("class period filings") were
violations of Rule 10b-5:

     (1) Savient's failure to update the public concerning the
directors' evaluation of potential strategic alternatives; and

     (2) Savient's cash projections indicating that it could
operate at least into the second quarter of 2012.

The Defendants argue that Johansson's Amended Complaint does not
state a claim for either category because Johansson failed to
allege an actionable misrepresentation or omission and failed to
allege sufficient facts to support a "strong inference" of
scienter.

Judge Sleet agreed with the Defendants' argument. He held that
because Johansson has not alleged an actionable material omission
concerning Savient's strategic alternatives, his claim must fail.
He further held that the allegations in the complaint fail to
support a strong inference of scienter -- that the Defendants knew
or recklessly disregarded the possibility that their omission was
misleading to the public.

The case is MATZ JOHANSSON, on behalf of himself and all others
similarly situated, Plaintiff, v. LOUIS FERRARI, GINGER
CONSTANTINE, M.D., STEPHEN O. JAEGER, DAVID P. MEEKER, M.D., DAVID
Y. NORTON, ROBERT G. SAVAGE, VIRGIL THOMPSON, RICHARD CROWLEY, JOHN
P. HAMILL, PHILIP K. YACHMETZ, and DAVID G. GI ON CO, Defendants,
Civil Action No. 14-42-GMS.

A full-text copy of Judge Gregory M. Sleet's Memorandum dated
August 20, 2015, is available at http://is.gd/o1TXxTfrom
Leagle.com.

Matz Johansson is represented by:

          Seth D. Rigrodsky, Esq.
          Brian D. Long, Esq.
          Gina M. Serra, Esq.
          RIGRODSKY & LONG, P.A.
          2 Righter Parkway, Suite 120
          Wilmington, DE 19803
          Telephone: (302)295-5310
          Facsimile: (302)654-7530
          Email: sdr@rl-legal.com
                 bdl@rl-legal.com
                 gms@rl-legal.com

Louis Ferrari, et al., are represented by:

          Robert Scott Saunders, Esq.
          SKADDEN, ARPS, SLATE, MEAGHER & FLOM
          One Rodney Square
          920 N. King Street
          Wilmington, DE 19801
          Telephone: (302)651-3000
          Facsimile: (302)651-3001
          Email: rob.saunders@skadden.com
           
        About Savient Pharmaceuticals, Inc.

Headquartered in Bridgewater, New Jersey, Savient Pharmaceuticals,
Inc. -- http://www.savient.com/-- is a specialty  
biopharmaceutical company focused on developing and
commercializing KRYSTEXXA(R) (pegloticase) for the treatment of
chronic gout in adult patients refractory to conventional therapy.
Savient has exclusively licensed worldwide rights to the
technology related to KRYSTEXXA and its uses from Duke University
and Mountain View Pharmaceuticals, Inc.

The Company and its affiliate, Savient Pharma Holdings, Inc.,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
D. Del. Case No. 13-12680) on Oct. 14, 2013.  In its schedules,
Savient Pharmaceuticals listed $43,065,650 in total assets and
$284,078,461 in total liabilities.

The Debtors are represented by Kenneth S. Ziman, Esq., and David
M. Turetsky, Esq., at Skadden Arps Slate Meagher & Flom LLP, in
New York; and Anthony W. Clark, Esq., at Skadden Arps Slate
Meagher & Flom LLP, in Wilmington, Delaware.  Cole, Schotz,
Meisel, Forman & Leonard P.A., also serves as the Company's
conflicts counsel, and Lazard Freres & Co. LLC serves as its
financial advisor.  GCG Inc. serves as the Debtors' claims agent.
Kramer Levin Naftalis & Frankel LLP is the Debtors' special
intellectual property counsel.

U.S. Bank National Association, as Indenture Trustee and
Collateral Agent, is represented by Clark T. Whitmore, Esq., at
Maslon Edelman Borman & Brand, LLP, in Minneapolis, Minnesota.

The Unofficial Committee of Senior Secured Noteholders is
represented by Andrew N. Rosenberg, Esq., Elizabeth McColm, Esq.,
and Jacob A. Adlerstein, Esq., at Paul, Weiss, Rifkind, Wharton &
Garrison LLP, in New York; and Pauline K. Morgan, Esq., at Young,
Conaway, Stargatt & Taylor LLP, in Wilmington, Delaware.

The Troubled Company Reporter reported on Jan. 15, 2014, that
Savient Pharmaceuticals has completed the sale of substantially
all of its assets, including all KRYSTEXXA assets, to Crealta
Pharmaceuticals for gross proceeds of approximately $120.4
million.

Savient Pharmaceuticals has filed with the Bankruptcy Court a plan
of liquidation following the sale to Crealta.  The Plan impairs
senior secured noteholder claims and general unsecured claims.
The Plan also impairs intercompany claims, subordinated 510(c)
claims and subordinated 510(b) claims, although holders of these
claims are not entitled to vote on the Plan.


SHENANDOAH FAMILY: Pinnacle Foods Buys Hagerstown Plant for $4.2MM
------------------------------------------------------------------
Pinnacle Foods Group LLC has acquired the former Shenandoah Family
Farms dairy plant at 1100 Frederick Street, Hagerstown, Maryland,
for $4.2 million, online property records show.

The U.S. Bankruptcy Court for the Western District of Virginia
approved the sale of the plant to Pinnacle Foods in August, CJ
Lovelace at Herald-Mail Media reports.

According to Herald-Mail, a Pinnacle Foods spokesperson said that
the buyer will be refurbishing the facility and adapting it to
produce Gardein branded products over the next 12 to 18 months.

Court documents say that the dairy plant was shut down earlier this
year after the Shenandoah Family Farms Cooperative, Inc.'s
bankruptcy filing.  Valley Pride was considering shutting the plant
down about nine months ago after  it had exhausted its financial
options to continue operating, Herald-Mail relates, citing a plant
official.

Mount Crawford, Virginia-based Shenandoah Family Farms Cooperative,
Inc. (Bankr. W.D. Va. Case No. 15-50054) and its affiliates Valley
Pride, LLC (Bankr. W.D. Va. Case No. 15-50055) and Hagerstown 1100
Frederick, LLC (Bankr. W.D. Va. Case No. 15-50056) filed separate
Chapter 11 bankruptcy petitions on Jan. 26, 2015.  The Shenandoah
Family petition was signed by Edward Showalter, chairman of the
Board of Directors of Shenandoah Family Farms.

Judge Rebecca B. Connelly presides over the case.

Dale A. Davenport, Esq., Beth C Driver, Esq., and Hannah White
Hutman, Esq., at Hoover Penrod, Plc, serve as the Debtors'
counsel.

The Debtors each estimated their assets and liabilities at between
$1 million and $10 million.


SIGNAL INTERNATIONAL: Auction Date Moved to Oct. 14
---------------------------------------------------
Signal International, Inc., and its affiliated debtors sought and
obtained approval from Judge Mary F. Walrath of the U.S. Bankruptcy
Court for the District of Delaware of their revised sales and
bidding procedures, which reflect the resolutions of the objections
and informal responses filed by creditors.

Significant revisions in the Debtors' proposed Sales and Bidding
Procedures Order include, among others:

     (1) The auction date was changed from October 21, 2015 to
October 14, 2015.

     (2) The sale hearing was scheduled for November 24, 2015 at
2:00 p.m., and the deadline for submitting objections to the sale
was changed from September 30, 2015 to October 13, 2015.

     (3) The deadline for making Adequate Assurance Objections was
changed from October 29, 2015 to November 3, 2015.

     (4) The deadline for making objections to the conduct of the
auction and the terms of a sale to a prevailing purchaser other
than the stalking horse bidder was scheduled on November 3, 2015 at
4:00 p.m.

     (5) The deadline to file contract objections was changed from
the later of (a) fourteen days after the date the Supplemental Cure
Notice is filed and (b) the Sale Objection Deadline, to the later
of (a) seventeen days after the date the Supplemental Cure Notice
is served and (b) the Sale Objection Deadline.

     (6) The amount of the break-up fee was revised to $1,000,000.

     (7) The Court will not be bound by the Prevailing Purchaser's
allocation under the Prevailing Purchaser’s asset purchase
agreement with respect to the determination of the value of any
secured claims asserted by Max Specialty Insurance Company and the
value of the assets upon which Max Specialty asserts a lien.

Among those who objected to the original sales and bidding
procedures are: (a) Pinto Island Land Company, Inc.; (b) Buckley &
Son Fabrication & Construction, Inc.; and (c) Max Specialty
Insurance Company.  According to the Debtors, the revised Sales and
Bidding Procedures Order is consistent with the statements made on
the record at the Bidding Procedures Hearing.

Signal International, Inc. and its affiliated Debtors are
represented by:

          M. Blake Cleary, Esq.
          Jaime Luton Chapman, Esq.
          Travis G. Buchanan, Esq.
          YOUNG CONAWAY STARGATT & TAYLOR, LLP
          Rodney Square
          1000 North King Street
          Wilmington, DE 19801
          Telephone: (302)571-6600
          Facsimile: (302)571-1253
          Email: mbcleary@ycst.com
                 jchapman@ycst.com
                 tbuchanan@ycst.com

          About Signal International

Signal International Inc. -- http://www.signalint.com/-- primarily

engages in the business of offshore drilling rig overhaul, repair,
upgrade, and conversion, as well as new shipbuilding construction.

Additionally, Signal provides services to the general marine and
heavy fabrication markets for barges, power plants, and modular
construction.  

Signal International, LLC ("SI LLC"), was organized on Dec. 6,
2002, as a limited liability company after acquiring the assets of
the Offshore Division of Friede Goldman Halter from bankruptcy.
SI
Inc. was incorporated on Oct. 12, 2007, and began operations with
offshore fabrication and repair in Mississippi.  Today, Signal's
corporate headquarters are in Mobile, Alabama, with operations in
Alabama and Mississippi, and a sales office in Texas.

On Oct. 3, 2014, Signal International Texas, L.P., sold
substantially all of its assets to Westport Orange Shipyard, LLC,
in a partially seller-financed transaction for a total purchase
price of $35,900,000.  As part of the transaction, Westport
provided a down payment of $7,000,000 and delivered a promissory
note in the principal amount of $28,900,000 to SI Texas due on or
before Oct. 3, 2019 (the "Texas Note").

On July 12, 2015, SI Inc. and its direct and indirect wholly owned
subsidiaries, including SI LLC, commenced cases under chapter 11
of
title 11 of the United States Code (Bankr. D. Del. Lead Case No.
15-11498).

The Debtors tapped Young Conaway Stargatt & Taylor LLP as
bankruptcy counsel, Hogan Lovells US LLP as general corporate
counsel, GGG Partners, LLC, as financial and restructuring
advisors, and Kurtzman Carson Consultants LLC as claims and
noticing agent.

Signal International Inc. estimated $10 million to $50 million in
assets and $50 million to $100 million in debt.

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


SPECTRUM ANALYTICAL: Bacon Wilson OK'd to Withdraw as Counsel
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts
authorized Bacon Wilson, P.C., to withdraw as counsel for Spectrum
Analytical, Inc., and its debtor affiliates.

The Court also ordered that BW safeguard all of its files and turn
over those records to no person, other than the Chapter 11 trustee,
on his request without further court order.  BW, in its motion,
stated that on May 1, 2015, Judge Henry J. Boroff authorized the
Debtors' to employ BW as counsel.

Since that time, BW states that there has been a serious breakdown
in communications and an irretrievable breakdown of the
attorney-client relationship between BW and the Debtor and its
principal officer -- Hanibal C. Tayeh, PhD, president, as the duly
authorized officer of the Debtors.

Serious differences that have developed in regard to the handling
of the affairs of the Debtor between BW and Dr. Tayeh which
interferes with BW's continued and effective representation of the
Debtor corporations, according to court papers.

Chapter 11 Trustee Steven Weiss has indicated that he will not
object to the motion of BW to withdraw as counsel to the Debtors.

                       About Spectrum Analytical

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

Spectrum Analytical and Hanibal Technology commenced Chapter 11
bankruptcy cases (Bankr. D. Mass. Case Nos. 15-30404 and 15-30405)

on April 30, 2015, to retake management of their business and
assets from the receiver installed by their lender.  Hanibal Tayeh,
the sole member, signed the bankruptcy petitions.

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

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

Steven Weiss, the Chapter 11 trustee tapped Seth Schalow as
restructuring consultant for the estate.  TechKnowledgey Strategic

Group, serves as his business broker, and Shatz Schwartz and
Fentin. P.C., as his counsel.


SPECTRUM ANALYTICAL: Court Okays $5-Mil. Asset Sale to Eurofins
---------------------------------------------------------------
The Hon. Henry J. Borroff of the U.S. Bankruptcy Court for the
District of Massachusetts authorized Steven Weizz, Chapter 11
trustee for Spectrum Analytical, Inc., to sell substantially all of
the Debtor's assets to Eurofins Scientific, free and clear of
liens, claims and encumbrances, and assume and assign certain
executory contracts and unexpired leases.

The Court also overruled objections to the sale motion, including
the objection of William K. Harrington, the U.S. Trustee for Region
1, which opposed to the inclusion in the sale of any Chapter 5
causes of action.

As reported by The Troubled Company Reporter on Aug. 24, 2015, the
Chapter 11 Trustee sought authorization to sell these assets: (1) a
real estate at 830 Silver Street and 11 Herbert P. Amgren Drive, in
Agawam, Massachusetts; (2) all of Spectrum's equipment and
inventory located in the United States; (3) Spectrum's rights to
the name Spectrum Analytical; (4) Spectrum's accounts receivables
(except those from Hannibal
Technology, LLC; and (5) all of Spectrum's motor vehicles.

The purchaser has agreed to pay $5,000,000 as consideration for the
acquired assets.

The Court denied the request of Dr. Hanibal Tayeh, Ph.D., sole
shareholder of the Debtor, for continuance of deadline for bids.

Bank Rhode Island opposed to the motion of Dr. Tayeh, stating that
Dr. Tayeh's assertions are not credible and any delay in the sale
of the acquired assets of Debtor Spectrum to Eurofins may
jeopardize the sale.

Dr. Tayeh moved that the Court approve a brief continuance of the
deadline for submitting qualified bids to the trustee from the
previous deadline of Aug. 20, 2015, to a new deadline of Aug. 30,
2015.

Dr. Tayeh represented that he has obtained a commitment for a
quantity of funds sufficient to pay off all secured and unsecured
claims and to pay off all other fees and expenses required to
purchase Spectrum and Technology.

The trustee also opposed the motion because it is untimely -- the
deadline for filing objections or counter offers was Aug. 20, at
noon, and the motion was not filed until after 3:00 p.m.

                     About Spectrum Analytical

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

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

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

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

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


SPECTRUM ANALYTICAL: Ford Motor Wins OK to Exercise Rights on Autos
-------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts
modified the automatic stay imposed in the Chapter 11 cases of
Spectrum Analytical and Hanibal Technology to allow Ford Motor
Credit Company LLC, formerly Ford Motor Credit Company, to exercise
its rights, if any, with regard to a 2008 Mercury Milan, Vehicle
Identification Number 3MEHM07Z28R627501; and 2014 Lincoln MKZ,
Vehicle Identification Number 3LN6L2JK7ER817708.

As reported by The Troubled Company Reporter on Aug. 19, 2015,
Debtor Hanibal Technology, LLC, entered into a Retail Installment
Contract, also known as Contract 1, with Sarat Ford Sales Inc.,
whereby the Debtor agreed to pay a total of $7,722, in connection
with the purchase of a 2008 Mercury Milan.  Hanibal also entered
into a Retail Installment Contract, also known as Contract 2, with
Sarat Ford Sales, Inc., whereby Hanibal agreed to pay a total of
$59,390.36, in connection with the purchase of a 2014 Lincoln MKZ.

Contracts 1 and 2 were duly assigned by Sarat Ford Sales, to Ford,

which now holds and owns them.  Pursuant to the terms and
provisions of Contracts 1 and 2, Ford was granted and presently
retains a purchase money security interest in the 2008 Mercury
Milan and 2014 Lincoln MKZ, and any accessories, equipment and
replacement parts installed in the vehicles. No other collateral
exists securing these obligations.

Hanibal is in default under the terms and provisions of Contracts 1
and 2, as follows: (1) Contract 1: Balance Due: $502 and
Postpetition arrears: $502; and (2) Contract 2: Balance Due:
$45,490.53 and Postpetition arrears: $947.62 for the months of June
7, 2015 and July 7, 2015.

Ford has ascertained that the fair market replacement values for:
(i) the 2008 Mercury Milan is $7,575; and (ii) the 2014 Lincoln MKZ
is $35,300.

Mitchell J. Levine, Esq., at the Law Offices of Nair & Levin, P.C.,
in Bloomfield, Connecticut, tells the Court that the Debtors
continue to enjoy the use and possession of the vehicles,
subjecting the same to normal occupational wear and tear, thereby
causing them to depreciate in value. Mr. Levine further tells the
Court that the continued use of the vehicles will eventually render
them useless, thereby causing Ford irreparable damage to its
interests in the same.

                    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.


STANDARD REGISTER: Jefferies Transaction Fees Amended
-----------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware, in an
amended order, authorized the Official Committee of Unsecured
Creditors in the Chapter 11 cases of The Standard Register Company,
et al., to retain Jefferies LLC as its exclusive investment banker
nunc pro tunc to March 24, 2015.

The amended order provides that, among other things, Jefferies will
only be entitled to a transaction fee for consummation of a Chapter
11 Plan for the Debtors.  The transaction fee will be in an amount
equal to (a) $1,000,000 if the Committee either supports or does
not file and prosecute any material objection to the plan; and (b)
$750,000 if the Committee does prosecute any material objection to
the plan and the objection is not settled or withdrawn.

As reported by The Troubled Company Reporter, the Debtors, the
Committee, Silver Point Finance, LLC, on June 19, entered into a
settlement agreement (i) authorizing the sale of substantially all
of the Debtors' assets; (ii) authorizing the assumption and
assignment of certain executory contracts and unexpired leases.
Under the Settlement Agreement, which has been approved by the
Bankruptcy Court, the parties agreed to revised terms of retention
for Jefferies including a $750,000 reduction in the amount of the
Jefferies transaction fee and approval of Jefferies' retention
pursuant to Section 328 of the Bankruptcy Code.

Subsequently, the Committee asked the Court to enter a revised
order to provide, "Notwithstanding anything to the contrary in the
Application or Engagement Letter, Jefferies will only be entitled
to a Transaction Fee for consummation of a Chapter 11 plan for the
Debtors pursuant to Chapter 11 of the Bankruptcy Code.  The
Transaction Fee will be in an amount equal to (A) $1,000,000 if the
Committee either supports or does not file and prosecute any
material objection to such plan (or, if the Committee does file and
prosecute any material objection to such plan, such objection is
either withdrawn, settled or otherwise consensually resolved) and
(B) $750,000 if the Committee does prosecute any material objection
to such plan and such objection is not settled or withdrawn."

                     About Standard Register

Standard Register provides market-specific insights and a
compelling portfolio of workflow, content and analytics solutions
to address the changing business landscape in healthcare, financial
services, manufacturing and retail markets.  The Company has
operations in all U.S. states and Puerto Rico, and currently
employs 3,500 full-time employees and 16 part-time employees.

The Standard Register Company and 10 affiliated debtors sought
Chapter 11 protection in Delaware on March 12, 2015, with plans to
launch a sale process where its largest secured lender would serve
as stalking horse bidder in an auction.

The cases are pending before the Honorable Judge Brendan L.
Shannon and are jointly administered under Case No. 15-10541.

The Debtors have tapped Gibson, Dunn & Crutcher LLP and Young
Conaway Stargatt & Taylor LLP as counsel; McKinsey Recovery &
Transformation Services U.S., LLC, as restructuring advisors; and
Prime Clerk LLC as claims agent.

The Official Committee of Unsecured Creditors tapped Lowenstein
Sandler LLP as its counsel and Jefferies LLC as its exclusive
investment banker.


TARGA RESOURCES: Moody's Assigns 'Ba2' to New $400MM Notes
----------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to Targa Resources
Partners LP's proposed $400 million senior unsecured notes due
2024. The bonds were co-issued by Targa Resources Partners Finance
Corporation. Targa's other ratings remain unchanged and the outlook
remains stable.

Net proceeds from the senior notes offering will be primarily used
to partially reduce outstanding balance under the partnership's
$1.6 billion senior secured revolving credit facility.

"The offering enables Targa to term out borrowings under its
revolver and restore liquidity in order to execute on its major
capex projects in 2015-2016," said Arvinder Saluja, Moody's Vice
President and Senior Analyst. "However, we note that the persistent
weakness in the NGL and crude oil markets weighs on Targa's EBITDA
generation and do not expect material improvement in the near-term
credit metrics."

Assignments:

Issuer: Targa Resources Partners LP

Senior Unsecured $400m Regular Bond/Debenture (Local Currency),
Assigned Ba2, LGD4

RATING RATIONALE

The proposed notes are unsecured and rank pari-passu with Targa's
existing senior usecured notes. Unsecured noteholders have a
subordinated claim to Targa's assets behind the senior secured
revolving credit facility and the accounts receivable
securitization facility. Given the substantial amount of
priority-claim secured debt in the capital structure, the notes are
rated Ba2, one notch below the Ba1 Corporate Family Rating (CFR)
under Moody's Loss Given Default Methodology.

Targa's Ba1 CFR is supported by its scale and baseline EBITDA
generation, track record of strong execution of growth projects,
and relatively high proportion of fee-based margin contribution. In
addition, Targa has increased geographic diversification, improved
business diversification through entry into crude oil gathering,
and grown fee-based business. As a number of growth projects came
online in 2013-14, its distribution coverage, which remained under
1.0x for a portion of 2013, also improved with the cash flow from
these projects. These positive attributes are tempered by material
exposure to the gathering and processing business, intensified
commodity price weakness, volume risks, and its historically
aggressive distribution policies.

Targa's ratings will be considered for an upgrade if we expect the
partnership to sustain leverage near 4x and continue to increase
the proportion of fee-based revenues and EBITDA. The CFR could be
downgraded if Targa's Debt/EBITDA rises over 5.5x because of a
leveraging transaction and/or weaker than expected earnings.

The principal methodology used in these ratings was Global
Midstream Energy published in December 2010.

Targa Resources Partners LP is a midstream master limited
partnership headquartered in Houston, Texas.


TARGA RESOURCES: S&P Assigns BB+ Rating on New $400MM Unsec. Notes
------------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BB+'
issue-level rating and '4' recovery rating to Targa Resources
Partners L.P.'s and subsidiary Targa Resources Partners Finance
Corp.'s proposed $400 million senior unsecured notes due 2024.

The '4' recovery rating indicates S&P's expectation of average (30%
to 50%; in the lower half of the range) recovery if a payment
default occurs.  The partnership intends to use net proceeds to
reduce borrowings under its secured revolving credit facility and
for general corporate purposes.  As of June 30, 2015, Targa had
$878 million outstanding under its secured credit facility and
total balance sheet debt of about $5.2 billion.

Houston-based Targa is a midstream energy partnership that
specializes in natural gas gathering and processing, the
fractionating and distribution of natural gas liquids, and crude
oil logistics.  S&P's corporate credit rating on Targa is 'BB+'.

Ratings List

Targa Resources Partners L.P.
Corporate credit rating                    BB+/Negative/--

New Rating

Targa Resources Partners L.P.
Targa Resources Partners Finance Corp.
$400 mil sr unsecd notes due 2024          BB+
  Recovery Rating                           4L



TRANS COASTAL: Brian Benbow Engaged as Special Counsel
------------------------------------------------------
Trans Coastal Supply Company, Inc., asks the U.S. Bankruptcy Court
for the Central District of Illinois for permission to employ Brian
W. Benbow, Esq., of Benbow Law Offices, as its special counsel to
defend a cause of action and pursue a counterclaim.

The Debtor tells the Court it is currently involved in litigation
in Coshocton, Ohio, in Case No. 2014-CI-0426, which is a lawsuit by
Three Rivers Energy, LLC against the Debtor and a counterclaim
against Three Rivers Energy, LLC by the Debtor.  The Debtor says it
feels that there is a significant possibility of net recovery in
the Ohio litigation whether it is pursued in the Ohio state court
or removed to federal court or removed or refiled in this Court.

Mr. Benbow bills at a rate of $200 an hour plus expenses.  Mr.
Benbow can be reached at:

   Brian W. Benbow, Esq.
   Benbow Law Offices
   239 N. 4th St.
   Coshocton, OH 43812
   Tel. (740) 291-8014

A hearing is set for Sept. 15, 2015, at 9:30 a.m., Courtroom 232,
Springfield, Illinois.

Headquartered in Decatur, Illinois, Trans Coastal Supply Company
Inc ships grain and other agricultural products like the ethanol
byproduct distillers dried grains (DDGS) in containers to overseas
buyers.

Trans Coastal Supply Company Inc. filed for Chapter 11 bankruptcy
protection (Bankr. C.D. Ill. Case No. 15-71147) on July 23, 2015.
Judge Mary P. Gorman presides over the Debtor's case.  Jeffrey D
Richardson, Esq., at Richardson & Erickson, represents the Debtor.

The Debtor estimated both assets and liabilities between $10
million and $50 million.

Nancy J. Gargula, U.S. Trustee for Region 10, appointed five
members to the Official Committee of Unsecured Creditors in the
Chapter 11 bankruptcy case of Trans Coastal Supply Company Inc.


TRANS COASTAL: Court Approves Chris Harrison as Realtor
-------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of Illinois
authorized Trans Coastal Supply Company Inc. to employ Chris
Harrison of Brinkoetter & Associates to market and sell the
Debtor's warehouse located at 2803 North 22nd Street in Decatur,
Illinois, which is one of its two current physical locations, the
other being a rented facility in Kansas City, Kansas.

The Debtor said, if Mr. Harrison obtains an acceptable buyer for
the property, he is entitled to a 5% commission.

The Debtor assured the Court that Mr. Harrison has no conflict of
interest or is otherwise precluded from being employed as a
professional in this case.

Mr. Harrison can be reached at:

   Chris Harrison
   Brinkoetter & Associates
   1610 E. Pershing Road
   Decatur, IL 62526
   Tel.: (217) 875-0555

Headquartered in Decatur, Illinois, Trans Coastal Supply Company
Inc ships grain and other agricultural products like the ethanol
byproduct distillers dried grains (DDGS) in containers to overseas
buyers.

Trans Coastal Supply Company Inc. filed for Chapter 11 bankruptcy
protection (Bankr. C.D. Ill. Case No. 15-71147) on July 23, 2015.
Judge Mary P. Gorman presides over the Debtor's case.  Jeffrey D
Richardson, Esq., at Richardson & Erickson, represents the Debtor.

The Debtor estimated both assets and liabilities between $10
million and $50 million.

Nancy J. Gargula, U.S. Trustee for Region 10, appointed five
members to the Official Committee of Unsecured Creditors in the
Chapter 11 bankruptcy case of Trans Coastal Supply Company Inc.


TRANS COASTAL: Files Schedules and Statements with C.D. Ill. Court
------------------------------------------------------------------
Trans Coastal Supply Company Inc. filed with the U.S. Bankruptcy
Court for the Central District of Illinois its schedules of assets
and liabilities, and statements of financial affairs, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------           ------------      -----------
  A. Real Property                $1,000,000
  B. Personal Property           $10,468,875
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $3,090,900      
                 
  E. Creditors Holding
     Unsecured Priority
     Claims                                            $2,500  
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $33,810,794
                                 -----------     ------------
        TOTAL                    $11,468,875      $36,904,194

A full-text copy of the Debtor's schedules and statements is
available for free at http://is.gd/82OIc3

Headquartered in Decatur, Illinois, Trans Coastal Supply Company
Inc ships grain and other agricultural products like the ethanol
byproduct distillers dried grains (DDGS) in containers to overseas
buyers.

Trans Coastal Supply Company Inc. filed for Chapter 11 bankruptcy
protection (Bankr. C.D. Ill. Case No. 15-71147) on July 23, 2015.
Judge Mary P. Gorman presides over the Debtor's case.  Jeffrey D
Richardson, Esq., at Richardson & Erickson, represents the Debtor.

The Debtor estimated both assets and liabilities between $10
million and $50 million.


TRANS COASTAL: Wants to Hire Richardson & Erickson as Attorney
--------------------------------------------------------------
Trans Coastal Supply Company, Inc., asks the U.S. Bankruptcy Court
for the Central District of Illinois for permission to employ the
law firm of Richardson & Erickson as its attorney to render legal
services and advice to the Debtor, including the representation of
the Debtor in three lawsuits pending in Macon County Circuit Court
and the United States District Court for the Central District of
Illinois.

The firm's professionals and their compensation rates are:

   Professionals                       Hourly Rates
   -------------                       ------------
   Jeffrey D. Richardson, Esq.         $275
   Andrew S. Erickson, Esq.            $195
   Laura Richardson, Esq.              $170

According to court documents, a $20,000 retainer was received from
the Debtor with a portion of that retainer in the amount of $2,717
being paid by the Debtor's president, Pamela D. Moses.

The firm can be reached at:

   Jeffrey D. Richardson, Esq.
   Andrew S. Erickson, Esq.
   Laura Richardson, Esq.
   132 South Water Street, Suite 444
   Decatur, IL 62523
   Tel: 217 425-4082

Headquartered in Decatur, Illinois, Trans Coastal Supply Company
Inc ships grain and other agricultural products like the ethanol
byproduct distillers dried grains (DDGS) in containers to overseas
buyers.

Trans Coastal Supply Company Inc. filed for Chapter 11 bankruptcy
protection (Bankr. C.D. Ill. Case No. 15-71147) on July 23, 2015.
Judge Mary P. Gorman presides over the Debtor's case.  Jeffrey D
Richardson, Esq., at Richardson & Erickson, represents the Debtor.

The Debtor estimated both assets and liabilities between $10
million and $50 million.

Nancy J. Gargula, the U.S. Trustee for Region 10, appointed five
members to the Official Committee of Unsecured Creditors in the
Chapter 11 bankruptcy case of Trans Coastal Supply Company Inc.


TRIPLE POINT: S&P Lowers CCR to 'CCC+', Outlook Negative
--------------------------------------------------------
Standard & Poor's Ratings Services said that it has lowered its
corporate credit rating on Westport, Conn.-based Triple Point Group
Holdings Inc. to 'CCC+' from 'B-'.  The outlook is negative.

S&P also lowered its issue-level ratings on the company's
first-lien credit facility to 'CCC+' from 'B-'.  The recovery
rating remains '3', indicating S&P's expectations of "meaningful"
(50% to 70%; lower half of the range) recovery in the event of
payment default.

Additionally, S&P lowered its issue-level rating on the company's
second-lien term loan to 'CCC-' from 'CCC'.  The recovery rating on
the notes remain '6', indicating S&P's expectation of "negligible"
(0%-10%) recovery in the event of a payment default.

The rating action reflects a combination of weak operating
performance and a difficult oil and gas and commodity environment
that has resulted in increasing leverage and decreasing liquidity.
As of June 30, 2015, leverage was 13.2x, up from 11.8x from the
previous quarter.  By year-end 2015 S&P projects revenues to be
flat to slightly down, leverage will decline to the 12x area, and
free cash flow will be negative by about $2 million followed by de
minimis free cash flow in 2016.  S&P believes that meaningful
operating improvement beyond what S&P expects in 2015 will be
required to sustain the capital structure and we are uncertain
about the company's ability to maintain its liquidity position
within this difficult selling environment.  Given the recent sharp
energy price declines, S&P believes capital spending by energy and
commodity market participants will remain depressed over the next
12 months.

For the second quarter ended June, 30 2015, revenues decreased 29%
year over year primarily due to declines in professional services,
and to a lesser extent maintenance fees.  On a last-12-month basis,
this led to a 25% decline in EBITDA.  Capital spending was higher
for the most recent quarter due to nonrecurring restructuring costs
relating to facility upgrades, ultimately leading to negative free
cash flow.  Triple Point ended the second quarter with $12.6
million in cash on the balance sheet, sequentially down from $21
million.

Triple Point provides commodity procurement, processing,
transporting, and risk management software solutions to a wide
range of end markets, including agriculture, consumer products,
energy and mining, financial services, and commodity trading.  It
sells perpetual licenses based on commodity types, functionality,
and seats.  It also generates new license sales from existing
customers as they expand the breadth of commodities they manage
with the company's software, come to require new capabilities
within existing commodities, or add new users.

Triple Point has a highly leveraged financial risk profile with
debt leverage of 13.2x and interest coverage of 0.85x as of June
30, 2015.  The increase in leverage is due to lower EBITDA slightly
offset by some debt repayment.  Since the company's acquisition,
the sponsor has invested $65 million in additional equity for debt
repayment.  The most recent equity infusion occurred during the
first quarter of 2015.  In addition, Triple Point repaid $3 million
debt on June 30, 2015, using cash from the balance sheet.

Despite S&P's expectation for free cash flow deficits in 2015, it
views Triple Point's liquidity as "adequate," as defined in S&P's
criteria, with sources of liquidity to exceed uses by 1.2x.
Nonetheless, S&P believes the challenging environment could
constrain liquidity.  The company's $40 million revolving credit
facility has a maintenance covenant that is triggered when the
facility is drawn more than $10 million.  As of June 30, 2015,
there are no borrowings outstanding under the facility and S&P
estimates that the covenant restricts borrowing above $10 million.
Additionally, there were no borrowings outstanding from its
revolver as of this date.

Principal liquidity sources:

   -- Cash of $12.6 million at June, 30, 2015
   -- $10 million of availability on its $40 million revolving
      credit facility
   -- Minimal positive cash FFO

Principal liquidity uses:

   -- Annual capital expenditures of $2.8 million in 2015, and
      $0.5 million in 2016
   -- Debt amortization of $3.1 million annually

The negative outlook reflects S&P's view of continued top line
pressure in the second half of 2015, which could result in
continued negative free cash flow.

S&P could lower the rating if the company is unable to stem revenue
declines in 2015, resulting in continued deterioration in free
operating cash flow and liquidity.

S&P could revise the outlook to stable if operations stabilize with
growing revenues, EBITDA, free cash flow, and liquidity.

Key analytical factors

S&P has completed a review of the recovery analysis for Triple
Point and the '3' recovery rating on the company's first-lien
credit facilities and '6' recovery rating on the company's
second-lien credit facility remain unchanged.

S&P estimates that if the company were to default, EBITDA would
need to decline materially as a result of heightened competition
from peers and a challenging energy and commodity market, leading
to delayed customer purchases and reduced renewals.

S&P has valued the company as a going concern, applying a 5.5x
multiple to S&P's estimated emergence EBITDA of $27 million to
derive an estimated enterprise value (EV) of about $148 million.

Simulated default assumptions

   -- Simulated year of default: 2017
   -- EBITDA at emergence: $27 million
   -- EBITDA multiple: 5.5x

Simplified waterfall

   -- Net EV (after 5% admin. costs): $141 million
   -- Secured first-lien debt claims: $253 million
      -- Recovery expectations: 50% to 70 % (lower half of the
      range)
   -- Secured second-lien debt claims: $131 million
      -- Recovery expectations: 0% to 10%

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



TWENTYEIGHTY INC: S&P Affirms B- Corp. Credit Rating, Off Watch Neg
-------------------------------------------------------------------
Standard & Poor's Ratings Services said that it removed its ratings
on Broomfield, Colo.-based TwentyEighty Inc. from CreditWatch,
where S&P had placed them with negative implications on July 21,
2015.  At the same time, S&P affirmed its 'B-' corporate credit
rating on the company.  The rating outlook is negative.

S&P also affirmed its 'B-' issue-level rating on the company's $399
million senior secured credit facility due 2019.  The '3' recovery
rating remains unchanged, indicating S&P's expectation for
meaningful recovery (50%-70%; lower half of the range) of principal
in the event of a payment default.

"The rating actions are based on the additional liquidity and
widened covenant cushion TwentyEighty's amendment and financial
sponsor equity investment provide," said Standard & Poor's credit
analyst Heidi Zhang.

S&P's 'B-' corporate credit rating on TwentyEighty is based on
S&P's "weak" business risk profile and "highly leveraged" financial
risk profile assessments.  The negative rating outlook reflects the
company's slower-than-expected pace of integration and cost
reduction, and the meaningful execution risk as the substantially
new management team continues to integrate its recent acquisitions.
S&P expects pro forma adjusted leverage to decline to the high-5x
area by 2016 from the low-8x area as of June 30, 2015,
discretionary cash flows to moderately improve, and covenant
cushion to be greater than 10% over the next 12 months.

The negative rating outlook reflects the company's
slower-than-expected pace of integration and cost reduction, and
meaningful execution risk as the substantially new management team
continues to integrate its recent acquisitions.  S&P expects pro
forma adjusted leverage to decline to the high-5x area by 2016 from
the low-8x area as of June 30, 2015, discretionary cash flows to
moderately improve, and covenant cushion to be greater than 10%
over the next 12 months.

S&P could revise the outlook to stable if the company is able to
consistently generate positive discretionary cash flow by reducing
integration costs and realizing synergies.  A stable outlook would
also require the company to maintain an at least 10% EBITDA
covenant headroom.

S&P could lower the rating if higher-than-expected integration
costs or large licensing deal losses cause continued discretionary
cash flow deficits or the covenant headroom to decline below 10% on
a sustained basis.



VWR FUNDING: Moody's Rates Sr. Secured Loans Ba3, Outlook Stable
----------------------------------------------------------------
Moody's Investors Services assigned a Ba3 rating to VWR Funding
Inc.'s ("VWR"; NASDAQ: VWR) proposed US dollar and euro denominated
senior secured credit facilities, while affirming VWR's existing B1
Corporate Family Rating ("CFR"). The proceeds of the new loans will
be used to repay the existing senior unsecured notes maturing in
2017, the secured euro denominated term loan maturing in 2017,
outstanding revolver borrowings and pay fees and expenses. Moody's
will withdraw ratings on these instruments upon repayment. Moody's
also affirmed VWR's B1-PD Probability of Default Rating. The rating
outlook is stable.

The transactions is credit positive because it extends maturities
while lowering cash interest costs. The expiration of VWR's
existing revolver in April 2016 was creating modest liquidity
pressure that is alleviated with the transaction.

"We expect VWR's operating earnings and cash flow to continue to
strengthen over the next two years reflecting stronger operating
leverage, cost efficiency measures and favorable product mix,
despite foreign currency headwinds in the EMEA-APAC region," said
Chedly Louis, Vice President and Senior Analyst at Moody's.
"Moreover, we anticipate further improvement to debt/EBITDA towards
4.5x over the next twelve to eighteen months, driven by debt
repayment from healthy cash flows absent sizeable acquisition
opportunities combined with EBITDA growth" Louis added.

Ratings assigned are subject to Moody's review of final documents.

Moody's took the following rating actions on VWR Funding, Inc.:

Ratings assigned:

  Senior secured first lien revolving credit facility, at Ba3
  (LGD 3)

  Senior secured first lien USD Term Loan A, at Ba3 (LGD 3)

  Senior secured EUR Term Loan B, at Ba3 (LGD 3)

Ratings affirmed:

  Corporate Family Rating, at B1

  Probability of Default Rating, at B1-PD

  Senior unsecured notes due 2022, at B3 (LGD 5)

  Speculative Grade Liquidity Rating -- SGL-2

Ratings unchanged and to be withdrawn upon repayment:

  Senior secured first lien revolving credit facility, at Ba2
  (LGD 2)

  Senior secured EUR Term Loan B, at Ba2 (LGD 2)

  Senior unsecured notes due 2017, at B3 (LGD5)

RATING RATIONALE

VWR's B1 Corporate Family Rating is supported by the company's good
scale and strong market position as the #2 global life sciences
distributor behind Thermo Fisher (Baa3 positive), as well as the
stability of revenues and gross margins in part due to its
recurring revenue, a diversified customer base and long-standing
relationships. The rating also incorporates Moody's expectation
that VWR will continue to generate solid free cash flows that will
be used to pay down debt and fund modestly sized acquisitions,
thereby producing lower leverage metrics going forward.

VWR's rating is constrained by the company's moderate business
scale, modest operating margin and high leverage. The rating also
incorporates VWR's business concentration in servicing the life
science industry, which has and will continue to experience
significant changes, such as industry consolidation and reduction
or outsourcing of research & development. Further, Merck KGaA's
("Merck"), VWR's largest supplier, pending acquisition of
Sigma-Aldrich raises uncertainty in the future distribution
relationship between Merck and VWR. That said given the long
standing relationship between Merck and VWR Moody's believes this
risk to be manageable. Moody's expects VWR to continue to pursue
bolt-on acquisitions and its financial policies will be influenced
by its sponsors as a controlled entity. The likely continued sale
by Madison Dearborn Partners and other investors of its remaining
63.6% interest in the company is an overhang that creates event
risk such as the potential for leveraged share repurchases.

The stable rating outlook reflects Moody's expectation of continued
earnings stability despite near term foreign exchange headwinds,
underpinned by steady demand in end markets such as the biopharma
and industrial segments and high mix of consumable products. The
outlook also reflects Moody's view that the company will be
disciplined in carrying out its financial strategy with regard to
acquisitions and other shareholder initiatives.

The SGL-2 rating reflects our expectations of good liquidity and
positive free cash flow over the next twelve months.

Near term upward rating action is unlikely. Over the long run,
Moody's could upgrade the ratings if VWR is able to increase its
scale, improve its margin profile, diversify its supplier base and
sustain debt-to-EBITDA below 3.5 times and free cash flow above 10%
of total adjusted debt.

If Moody's expects leverage to be sustained at or above 5.5 times,
either due to deterioration in EBITDA, debt funded acquisitions or
shareholder friendly payouts, Moody's could downgrade the ratings.
Further, significant supplier contract losses or customer turnover
could also pressure the rating. Diminished free cash flow and
material deterioration in liquidity could impact the ratings as
well.

VWR Funding, Inc., headquartered in Radnor, Pennsylvania, is a
global leader in the distribution of laboratory scientific
supplies, including chemicals, glassware, equipment, instruments,
protective clothing, and production supplies. For the twelve months
ended June 30, 2015, VWR reported net sales of approximately $4.3
billion.

The principal methodology used in these ratings was Global
Distribution & Supply Chain Services published in November 2011.


VWR FUNDING: S&P Raises CCR to 'BB-' & Rates Proposed Debt 'BB'
---------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Radnor, Pa.-based laboratory supply distributor VWR
Funding Inc. to 'BB-', from 'B+'.  At the same time, S&P assigned a
'BB' issue-level rating to VWR's proposed senior secured debt
issuance, which consists of a $250 million revolving credit
facility, a $910 million term loan A, and a euro-denominated term
loan B (US$515 million equivalent) due 2022.  The recovery rating
on the proposed senior secured debt is '2', reflecting S&P's
expectation of substantial (70% to 90%; on the high end of the
range) recovery in the event of payment default.

In conjunction with the upgrade, S&P is raising the issue-level
rating on the senior unsecured debt to 'B+', from 'B'.  The
recovery rating is '5', reflecting S&P's expectation of modest (10%
to 30%; on the high end of the range) recovery in the event of
payment default.

"The rating upgrade reflects our view that the paid-in-kind [PIK]
preferred units [issued by Varietal Distribution Holdings LLC,
VWR's indirect parent], and held by financial sponsor owner Madison
Dearborn Partners [MDP], other sponsors, and management, is now
more equity-like following a recent partial conversion to common
stock," said Standard & Poor's credit analyst Michael Berrian.
Moreover, S&P expects future conversions to common stock will
continue to reduce MDP and other owners' investment over time.
Other features, such as a stapling provision with common shares and
a sub-15% PIK accretion rate, also support this revised treatment.

VWR has a well-established position as one of the largest
distributors of laboratory supplies, with a global market share of
about 11% and a strong presence in North America and Europe.  S&P
believes its global sourcing and distribution capabilities are
beneficial, but its large pharmaceutical industry and other
customers have become more price-sensitive.  Those factors support
our assessment of a "satisfactory" business risk profile.

S&P's rating outlook on VWR is stable, reflecting its expectation
for steady operating trends that include low-single-digit revenue
growth and flat EBITDA margins.  S&P expects this to result in
leverage being sustained at less than 5x and free operating cash
flow generation of about $200 million.

S&P could lower its rating on VWR if stronger competition, other
market pressures, or unexpected operating missteps result in
leverage of more than 5x on a sustained basis.  Margins contracting
by at least 100 basis points or an acquisition of more than $400
million could result in that outcome.

S&P could consider a higher rating if leverage reduction is faster
than it expects, primarily resulting from EBITDA margin expansion
of at least 200 basis points.  In such a scenario, leverage could
fall to less than 4x.  Commensurate with this development, S&P
would need to be convinced that VWR was committed to maintaining
leverage at that lower level.  This could happen if the
higher-margin private label segments make up a larger proportion of
sales.  Less likely, S&P could raise the rating following an
increase in size and scale.  In either case, S&P could consider
VWR's credit risk to be more similar to 'BB' rated peers than the
current 'BB-' peer set, prompting us to consider removing the
negative comparable rating analysis modifier.



WORLD TRIATHLON: Moody's Keeps B2 CFR on Equity Ownership Change
----------------------------------------------------------------
Moody's Investors Service said that World Triathlon Corporation's
(WTC) B2 corporate family rating (CFR) will not be impacted by the
pending change in its equity ownership. An affiliate of Chinese
portfolio company Dalian Wanda has agreed to purchase the equity of
WTC from Providence Equity Partners for $650 million plus the
assumption of WTC's existing outstanding debt. The company plans to
solicit a consent from lenders to waive the change of control
covenant which governs the existing term loan facility and keep the
existing debt financing in place through the close of the
transaction. Moody's expects the transaction to be funded with cash
from the new parent and total indebtedness of the rated issuer,
World Triathlon Corporation, to remain unchanged as a result of
this transaction. Therefore, WTC's ratings, including its B2 CFR,
B2-PD probability of default rating and the B2 rating on the senior
secured credit facility will remain unchanged as well. The outlook
remains stable.


ZLOOP INC: Seeks to Employ Miller Coffrey as Accountants
--------------------------------------------------------
ZLOOP, Inc., et al., seek authority from the U.S. Bankruptcy Court
for the District of Delaware to employ Miller Coffey Tate LLP as
accountants and bankruptcy and litigation consultants nunc pro tunc
to the Petition Date.

MCT will, among other things:

   (a) provide the Debtors with routine and ongoing accounting and
bookkeeping services;

   (b) assist and advise the Debtors in preparation of their
Bankruptcy schedules and statement of financial affairs;

   (c) assist and advise the Debtors in preparation of Monthly
Operating Reports; and

   (d) assist and advise the Debtors in their analysis and
preparation of any business plans, cash flow budgets/projections,
restructuring programs, selling, general and administrative
structure and other reports or analyses, in order to assist the
Debtors in their assessment of the business viability, the
reasonableness of projections and underlying assumptions, and the
viability of the restructuring strategy pursued by the Debtors or
other parties in interest.

The hourly fees of MCT are as follows:

         Partners & Principals                $455 - $750
         Managers                             $330 - $450
         Senior Accountants                   $225 - $335
         Staff Accountants/Paraprofessionals  $100 - $220

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

The Court will convene a hearing on Sept. 24, 2015, at 11:00 a.m.,
to consider the Debtors' employment application.

                         About ZLOOP, Inc.

ZLOOP, Inc., and two affiliates sought Chapter 11 protection
(Bankr. D. Del.) on Aug. 9, 2015.  The Court on Aug. 11, 2015,
granted the joint administration of the Debtors' Chapter 11 cases,
with the docket to be maintained at the docket for ZLOOP, Case No.
15-11660.

ZLOOP operates a proprietary, state of the art, 100% landfill free
eWaste recycling company headquartered in Hickory, North Carolina.

The Debtors tapped DLA Piper LLP as counsel.

As of the Petition Date, the Debtors' unaudited consolidated
balance sheet reflect total assets of approximately $25 million,
including the land and improvements, but excluding certain
commodity inventories that are the output of eWaste recycling, and
total liabilities of approximately $32 million.


[*] Moody's: Mobile Carriers' Higher Debt to Affect Credit Metrics
------------------------------------------------------------------
Account-receivable securitizations initially boost the liquidity of
mobile carriers as they tap the securitization market to finance
equipment installment plans (EIP), but the net cash that carriers
receive will decline each year, while the higher debt from the
facility could negatively affect credit metrics, says Moody's
Investors Service.

These facilities initially bolster the reported results of mobile
carriers because the cash proceeds from the securitized receivables
are reported as operating cash flow. As a result of the net
proceeds from these device securitizations, AT&T Inc. (Baa1
negative) and Verizon Communications Inc. (Baa1 stable) both
reported higher free cash flow and improved payout ratios in the
second quarter of 2015. Moody's expects T-Mobile USA Inc. (Ba3
stable) to pursue securitization as well.

Sprint Communications Inc. (Ba2 negative) has also used receivable
securitization facilities to finance its capital needs, and has
announced high-level plans to create a special-purpose entity for
financing device securitizations that could, depending on the
structure, improve the company's credit profile, according to the
report "EIP Securitization Boosts Liquidity, But Benefits Fade and
Debt Remains."

However, while the securitizations initially represent a viable
source of liquidity, they are a form of secured debt, and as such
can increase a company's leverage, potentially affecting its credit
metrics as well.

"Companies have many choices to finance capital requirements, and
the proceeds from securitization are simply another option for
raising debt capital," says Mark Stodden, a Moody's Vice President
and Senior Credit Officer. "But receivable securitization
accelerates future period cash flows into the current period,
creating a future headwind because the receivables sold are no
longer recognized in reported results."

Moody's notes that a company's credit metrics could deteriorate as
a result of the higher leverage and have a material effect on its
credit profile.


[^] BOOK REVIEW: The Story of The Bank of America
-------------------------------------------------
Author:  Marquis James and Bessie R. James
Publisher:  Beard Books
Softcover:  592 pages
List Price:  $31.80

Order your personal copy today at
http://www.amazon.com/exec/obidos/ASIN/1587981459/internetbankrupt

The Bank of America began as the Bank of Italy in 1904.
A. P. Giannini was motivated to found the Bank out of his
indignation over the neglect by other banks of the Italian
community in San Francisco's North Beach area. Local residents
were quickly drawn to Giannini's new type of bank suited for their
social circumstances, financial needs, and plans and aspirations.
Before Giannini's Bank of Italy, the field was dominated by large,
well-connected, and politically influential banks typified by the
magnate J. P. Morgan's House of Morgan catering to corporations
and the wealthy industrialists and their families of the Gilded
Age.

Giannini's Bank proved to be a timely enterprise with great
potential far beyond its founder's original aims. The early 1900s
following the Gilded Age was a time of spreading democratization
in American society with large numbers of immigrants being
assimilated. It was also a time of considerable industrial growth
after the heyday of the tycoons such as Morgan, Rockefeller, and
Carnegie in the latter 1800s. Giannini's idea was also helped by
the growth of California in its early stages of becoming one of
the most prosperous and most populous states. As California grew,
so did the Bank of America.

A. P. Giannini was the perfect type of individual to oversee the
growth of a bank that stood in sharp contrast to the House of
Morgan and which reflected broad changes in American society and
business. Giannini followed the quick success of his North Beach
bank with Bank of Italy branches elsewhere in San Francisco. With
the success of these followed branches throughout California's
agricultural valleys and Los Angeles as Giannini reached out to
populations of other average persons generally ignored by the
traditional banks. Throughout the rapid growth of his bank,
Giannini never lost touch with his original motive for creating a
bank suited for the average individual. When he died at 80 years
of age in 1949, he lived in the same house as he did when he
opened the original Bank of Italy; and his estate was less than
half a million dollars.

Throughout all the stages of the Bank of America's growth,
business recessions and depressions, and changes in American
society, including increased government regulation, the Bank
continued to reflect its founder's purposes for it. In the 1920s,
the Bank of Italy became a part of the corporation Transamerica.
In 1930, the Bank was merged with the Bank of America of
California. The newly formed bank was given the name the Bank of
America National Trust and Savings Association, with Giannini
appointed as chairman of the committee to work out the details of
the merger. In 1930, he selected Elisha Walker to head
Transamerica so he could be free to pursue his interest of
establishing a national bank with the same goals and nature as his
original Bank of Italy. But becoming alarmed over Walker's
proposed measures for dealing with the pressures of the
Depression, Giannini waged a battle involving board members,
stockholders, and allies he had worked with in the past to regain
control of Transamerica. In 1936, A. P. Giannini's son, Lawrence
Mario, succeeded his father as president of Bank of America, with
A. P. remaining as chairman of the board.

The story of Bank of America is largely the story of A. P.
Giannini: his ideas, his values, his ambitions, his goals, his
personality. The co-authors follow the stages of the Bank's growth
by focusing on the genteel, yet driven and innovative, A. P.
Giannini. There's a balance of basic business material such as
stock prices, rationale of momentous business decisions, and
balance-sheet data, with portrayals of outsized characters of the
time. Among these, besides Giannini, are the federal government
official Henry Morgenthau and Charles Stern, California's
superintendent of banks in the early 1900s. With this balance, The
Story of the Bank of America is an engaging and informative work
for readers of more technical business books and human-interest
business stories alike.


                            *********

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 ***