TCR_Public/150922.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, September 22, 2015, Vol. 19, No. 265

                            Headlines

33 PECK SLIP ACQUISITION: 341 Meeting of Creditors Set for Oct. 8
9971 KAPALUA: Case Summary & 4 Largest Unsecured Creditors
A&M FLORIDA: GFI Management, et al., Ordered to Pay AFTC $485K
AC I INV: Files Amended Schedule F
AIR 2 US: Fitch Affirms 'BB+/RR1' Rating on Series A EENs Notes

ALLIED SYSTEMS: Fails to Win Confirmation of Ch. 11 Plan
AMERICAN HOUSING: King Claims Should Be Subordinated, Court Rules
ANDALAY SOLAR: Provides Business Update; COO Resigns
API TECHNOLOGIES: Appoints New Chief Financial Officer
BEHAVIORAL SUPPORT: Court Okays Gray Robinson as Special Counsel

BIRCH GROVE: Case Summary & 20 Largest Unsecured Creditors
BLUE RACER: S&P Affirms 'B+' CCR & Revises Outlook to Negative
BRAZOS PRESBYTERIAN: Fitch Affirms 'BB+' Rating on 2013A&B Bonds
BRINTON TOWERS: Voluntary Chapter 11 Case Summary
BROOKE CORP: Trustee Blasts Kutak Rock's Bid to Exit $10MM Row

BUNKERS INTERNATIONAL: Hires Latham Shuker as Counsel
BUNKERS INTERNATIONAL: Taps Consulting CFO as Financial Advisors
CABLEVISION SYSTEMS: Fitch Puts 'BB-' IDR on Watch Negative
CABLEVISION SYSTEMS: S&P Puts 'BB-' CCR on CreditWatch Negative
CALIFORNIA COUNTY: Fitch Lowers Ratings on 3 Tranches to 'B-sf'

CHAMPION INDUSTRIES: Incurs $652,000 Net Loss in Third Quarter
CICERO INC: Stockholders Approve 13 Proposals at Annual Meeting
CITIZENS PARKWAY: Case Summary & 5 Largest Unsecured Creditors
COLLAVINO CONSTRUCTION: Mediation Deadline Extended to Oct. 30
COLLAVINO CONSTRUCTION: Wants Until Nov. 30 to File Plan

COLLINS & AIKMAN: Consent Decree on Elmira Property Cleanup Granted
CORINTHIAN COLLEGES: Seeks Cash Use Termination Date Extension
CPI INTERNATIONAL: Moody's Retains 'B2' CFR on ASC Signal Deal
CURTIS JAMES JACKSON: Robins Kaplan Named 50 Cent's Special Counsel
DIVERSE ENERGY: Wants to Hire Forshey & Prostok as Attorneys

DTS8 COFFEE: Incurs $78,800 Net Loss in First Quarter
ENERGY FUTURE: Court Approves Disclosure Statement
ENERGY FUTURE: Plan Confirmation Hearing to Start Nov. 3
ENERGY FUTURE: Plan Support Agreement Approved
GLOBAL MARITIME: Seeks Joint Administration of Cases

GLOBAL MARITIME: Wants to Borrow $2-Mil. DIP Loan from Francolin
GRAHAM GULF: Case Summary & 20 Largest Unsecured Creditors
GRAHAM GULF: Files for Chapter 11 Bankruptcy to Reorganize
GREGG LUBONTY: U.S. Bank's Bid to Dismiss Suit Granted
GUIDED THERAPEUTICS: Stockholders OK Increase of Authorized Shares

HAGGEN HOLDINGS: Sept. 21 Meeting Set to Form Creditors' Panel
HAVERHILL CHEMICALS: ALTIVIA Expects Sale Closing in October
HAVERHILL CHEMICALS: Case Summary & 20 Top Unsecured Creditors
HAVERHILL CHEMICALS: In Chap. 11 to Sell Plant to ALTIVIA for $3M
HII TECHNOLOGIES: Case Summary & 20 Largest Unsecured Creditors

HORNBECK OFFSHORE: Moody's Lowers CFR to B2, Outlook Negative
HOVENSA LLC: Gets OK to Pay Suppliers & Vendors $2.25 Million
HOVENSA LLC: Prime Clerk Okayed as Claims & Noticing Agent
HOVENSA LLC: Schedules Filing Deadline Extended Until Oct. 29
IMPLANT SCIENCES: Delays Fiscal 2015 Form 10-K Filing

INSITE VISION: Enters Into Merger Agreement with Sun Pharma
INTEGRO PARENT: S&P Assigns 'B' CCR & Rates 1st Lien Loans 'B'
ISLE OF CAPRI CASINO: Moody's Raises CFR to B1, Outlook Stable
JKM INVESTMENT: Case Summary & 4 Largest Unsecured Creditors
JODY L. KEENER: Super Wings' Bid to Dismiss Turnover Suit Granted

JOHN HARVEY WHITNEY: Court Denies Compromise with Lender
JOHN HOOVER: Order Converting Case to Chapter 7 Affirmed
JOSE LUIS CRESPO LORENZO: Atty's Bid for Fees Payment Denied
LAWRENCE, WI: S&P Lowers LT Rating on 2008 GO Notes to 'BB+'
LIFECARE HOLDINGS: 3rd Circ. Affirms Sale of Assets

LOUIS J. PEARLMAN: Court Overrules Objection to Case Closing Bid
MCCORMICK TWELVE: Voluntary Chapter 11 Case Summary
METALICO INC: Common Stock Delisted From NYSE MKT
MONTREAL MAINE: Judge Poised to Approve Oil Train Disaster Deal
MOTORS LIQUIDATION: New GM's Bid to Review No Stay Pleading Denied

NET DATA: Judge Set to Hear Charter Holdings Agreement
NET ELEMENT: Further Amends Letter Agreements
NET TALK.COM: Sued by KBM for Alleged Securities Fraud
NORTEL NETWORKS: SNMP's Bid to Withdraw Reference Denied
NORTEL NETWORKS: UK Debtors' Bid to Stay SNMP Suit Denied

OLIN CORP: S&P Assigns 'BB+' Rating on Sr. Unsecured Term Loan
OSSEN INNOVATION: Receives NASDAQ Listing Non-Compliance Notice
PARAGON OFFSHORE: S&P Lowers CCR to 'CCC-', Outlook Negative
PASADENA ADULT RESIDENTIAL: Ch. 11 Cases Reopened
PATRIOT COAL: Files Modified Plan Based on Possible New Bidder

PHOENIX HELIPARTS: Case Summary & 20 Largest Unsecured Creditors
PHYSIO-CONTROL INT'L: Moody's Confirms B2 CFR, Outlook Negative
PHYSIO-CONTROL INT'L: S&P Affirms 'B' Rating on 1st Lien Loan
PIPER AIRCRAFT: Plane Crash Victims May Pursue Claims vs. New Co.
PROSPECT HOLDING: S&P Removes 'B' ICR From CreditWatch Negative

QUICKSILVER RESOURCES: Selling Energy Assets in Bankruptcy
QUIKSILVER INC: Sept. 21 Meeting Set to Form Creditors' Panel
QUIZNOS: Former Executives Accused of Misleading Investors
RADIOSHACK CORP: DIP, Cash Use Termination Date Tolled to Sept. 30
RADIOSHACK CORP: GC Class Rep Seeks Estimation of Claim

RADIOSHACK CORP: Gift Card Holders Object to Proposed Settlement
RKI EXPLORATION: S&P Raises CCR to 'BB' Then Withdraws Rating
SAMSON RESOURCES: Bankruptcy Wipes Out Unsec. Holders, Fitch Says
SOPHIA LP: S&P Lowers Rating on Senior Secured Loan Due 2022 to 'B'
STEREOTAXIS INC: Sept. 15 Set as Ex-Warrants Date for Offering

SUN KYUM CHA: Judgment Favoring BB&T Affirmed
TOWN MASONRY: Court Finds No Fiduciary Breach by LaSala Defendants
TRANS-LUX CORP: Announces Terms for Rights Offering
TRIKONA ADVISERS: Interlocutory Judgment on Haida Suit Affirmed
TS EMPLOYMENT: TSE, CRS, Wells Fargo Ink Deal on Santander Funds

UNITED CONTINENTAL: Fitch Hikes Issuer Default Rating to 'BB-'
UNIVERSAL HEALTH: Court Enters Final Order Confirming Plan
UNIVERSAL HEALTH: Final Order Confirming AMC Plan Entered
USA DISCOUNTERS: Seeks Authority to Hire Pachulski as Co-Counsel
WILLIAM A. TRUDEAU: Order Dismissing Bankruptcy Case Affirmed

YELLOW CAB: Examiner to Investigate Deal with Creditors
[*] Fitch: Banks to Focus on Costs, Sensitivity After Fed Decision
[^] Large Companies with Insolvent Balance Sheet

                            *********

33 PECK SLIP ACQUISITION: 341 Meeting of Creditors Set for Oct. 8
-----------------------------------------------------------------
A meeting of creditors of 33 Peck Slip Acquisition LLC is set to be
held on Oct. 8, 2015, at 2:30 p.m., according to a filing with the
U.S. Bankruptcy Court for the Southern District of New York.

The meeting will be held at the Office of the U.S. Trustee, Fourth
Floor, 80 Broad Street, in 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 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
Robert Douglas as their real estate advisor to assist with the
sales.


9971 KAPALUA: Case Summary & 4 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: 9971 Kapalua LLC
        9971 Kapalua Ln
        Elk Grove, CA 95624-5036

Case No.: 15-27323

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: September 17, 2015

Court: United States Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Hon. Christopher M. Klein

Debtor's Counsel: Michael Benavides, Esq.
                  LAW OFFICES OF MICHAEL BENAVIDES
                  12 S 1st St #1101
                  San Jose, CA 95113
                  Tel: 707-362-4166
                  Email: mike.benavides@hotmail.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Bryan D Wilson, sole member.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/caeb15-27323.pdf


A&M FLORIDA: GFI Management, et al., Ordered to Pay AFTC $485K
--------------------------------------------------------------
Judge Kimba M. Wood of the United States District Court for the
Southern District of New York ordered GFI Management Services,
Inc., et al., to pay to American Federated Title Corporation:
$350,000 from Allen Gross, $125,000 from Edith Gross, and $10,000
from GFIM.

In 2009, four limited liability companies (the "A&M Companies")
owned by Allen and Edith Gross were sued by AFTC for breach of
contract and unpaid rent.  A year later, AFTC's claims were settled
for a total of $7.5M.  However, the limited liability companies
failed to satisfy any portion of the judgment.

In 2013, AFTC commenced a special proceeding seeking to collect its
full $7.5M judgment from Allen and Edith Gross and GFIM, an
affiliated corporation, by piercing the veils of the A&M Companies
and recovering allegedly fraudulent conveyances.

AFTC claimed that the A&M companies' payment for management fees to
GFIM and repayment of loans to all the defendants constituted
fraudulent conveyances under New York Debtor and Creditor Law
("DCL").  AFTC also claimed that the defendants should be held
liable for all debts of the A&M companies and GFIA – including
the full $7.5M settlement – under the doctrine of veil piercing.

Judge Wood held that AFTC has prevailed on some of its fraudulent
conveyance claims, but not on its veil-piercing claim.

Regarding the management fees, Judge Wood found that AFTC failed to
establish that the A&M companies' payments to GFIM lacked fair
consideration.  The judge also found that AFTC likewise failed to
establish by clear and convincing evidence that the management fee
payments were intended to "hinder, delay, or defraud" AFTC in its
capacity as creditor.

However, unlike the management fees, Judge Wood found that the loan
repayments to the defendants were constructively fraudulent under
DCL Secton 273 as they lacked fair consideration.

As to AFTC's veil-piercing claim, Judge Woods found that AFTC
failed to prove that any of the defendants abused the privilege of
doing business in the corporate form.  The judge explained that
although the A&M companies, GFIA, and GFIM were closely related
corporate entities with common owners, such close corporate ties
alone are not a sufficient ground for veil piercing.

The case is AMERICAN FEDERATED TITLE CORPORATION, Plaintiff, v. GFI
MANAGEMENT SERVICES, INC., ALLEN I. GROSS, and EDITH GROSS,
Defendants, NO. 13-CV-6437 (KMW) (S.D.N.Y.).

A full-text copy of Judge Wood's August 28, 2015 memorandum and
order is available at http://is.gd/c2LKA8from Leagle.com.

American Federated Title Corporation is represented by:

          Marc Joseph Rachman, Esq.
          DAVIS & GILBERT LLP
          1740 Broadway
          New York, NY 10019
          Tel: (212) 468-4800
          Fax: (212) 468-4888
          Email: mrachman@dglaw.com

            -- and --

          Franklin Lewis Zemel, Esq.
          Lori G. Adelson, Esq.
          ARNSTEIN & LEHR LLP
          200 E. Las Olas Blvd. Suite 1000
          Fort Lauderdale, FL 33301
          Tel: (954) 713-7600
          Fax: (954) 713-7700
          Email: franklin.zemel@arnstein.com

            -- and --

          Joshua Morgan Atlas, Esq. west palm
          ARNSTEIN & LEHR LLP
          515 N. Flagler Drive Suite 600
          West Palm Beach, FL 33401
          Email: jmatlas@arnstein.com
               
Brian Gross, Steven Hurwitz and Michael Weiser are represented by:

          Evan M Newman, Esq.
          NEWMAN LAW, P.C.
          377 Pearsall Avenue, Suite C
          Cedarhurst, NY 11516
          Tel: (516) 545-0343
          Fax: (212) 671-1883
          Email: enewman@newmanlawpc.com

GFI Management Services, Inc., Allen I. Gross and Edith Gross are
represented by:

          Joseph Zelmanovitz, Esq.
          STAHL & ZELMANOVITZ
          747 3rd Ave Rm 3301
          New York, NY 10017-2893
          Tel: (212) 826-6363

            -- and --

          Abraham Neuhaus, Esq.
          NEUHAUS & YACOOB LLC
          305 Broadway, 9th Floor
          New York, NY 10007
          Tel: (646) 470-6391
          Fax: (646) 349-1381
          Email: an@neuyac.com

Robert Cornfeld is represented by:

          Franklin Lewis Zemel, Esq.
          Lori G. Adelson, Esq.
          ARNSTEIN & LEHR LLP
          200 E. Las Olas Blvd. Suite 1000
          Fort Lauderdale, FL 33301
          Tel: (954) 713-7600
          Fax: (954) 713-7700
          Email: franklin.zemel@arnstein.com


AC I INV: Files Amended Schedule F
----------------------------------
AC I Manahawkin LLC filed with the U.S. Bankruptcy Court for the
Southern District of New York Amended Schedule F -- Creditors
Holding Unsecured Non-priority Claims, a full-text copy of which is
available for free at
http://bankrupt.com/misc/ACIInvManahawkin_180_amendedSAL.pdf

AC I Inv Manahawkin LLC, AC I Manahawkin Mezz LLC and AC I
Manahawkin LLC filed separate Chapter 11 bankruptcy petitions
(Bankr. S.D.N.Y. Case Nos. 14-22791, 14-22792 and 14-22793) on
June 4, 2014.  The petitions were signed by David Goldwasser, of
GC Realty Advisors LLC, managing member.  The Debtors estimated
assets of $50 million to $100 million and debts of $0 to $50
million.  Robinson Brog Leinwand Greene Genovese & Gluck, P.C.,
serves as the Debtors' counsel.  Judge Robert D. Drain presides
over the cases.

Affiliates of AC I Inv., et al., have pending bankruptcy cases
before Judge Drain.  NY Affordable Housing Albany Assocs. LLC
sought Chapter 11 protection (Bankr. S.D.N.Y. Case No. 13-20007)
on July 26, 2013.  First Bronx LLC sought bankruptcy protection
(Bankr. S.D.N.Y. Case NO. 14-22047) on Jan. 13, 2014.  Ollie Allen
Holding Company LLC sought bankruptcy (Case NO. 14-22204) on
Feb. 18, 2014.

U.S. Trustee was unable to form an official unsecured creditors'
committee.


AIR 2 US: Fitch Affirms 'BB+/RR1' Rating on Series A EENs Notes
---------------------------------------------------------------
Fitch Ratings has taken the following rating actions on the
enhanced equipment notes (EENs) issued by AIR 2 US:

-- Series A EENs affirmed at 'BB+/RR1';
-- Series B EENs upgraded to 'B+/RR5' from 'B/RR5'.

AIR 2 US is a special purpose Cayman Islands company created to
issue EENs; use the proceeds to purchase Permitted Investments; and
enter into a risk transfer agreement. AIR 2 US entered into the
risk transfer agreement (the Payment Recovery Agreement), with a
subsidiary of Airbus. The primary provision of the Payment Recovery
Agreement states that if United Airlines, Inc. (rated 'BB-';
Positive Outlook by Fitch) fails to pay scheduled rentals under
existing subleases of aircraft with subsidiaries of Airbus, AIR 2
US will pay these rental deficiencies to a subsidiary of Airbus.
These deficiency payments will come from the cash flows created by
the Permitted Investments. As such, the greatest risk of the
transaction is the bankruptcy risk of the lessee airline.

KEY RATING DRIVERS

AIR 2 US is not covered effectively by Fitch's EETC ratings
criteria because aircraft cannot be sold and liquidated in the
event of lease rejection of Airbus A320 aircraft sub-leased by
United. In addition, the underlying subleases are not
cross-defaulted or cross-collateralized. Applying a framework
similar to that employed in analysis of corporate obligations,
Fitch expects recoveries for series A noteholders to be very strong
in a lease rejection scenario. Discounted lease cash flows,
applying heavy stresses to current A320 lease rates, cover series A
principal and a full liquidity facility draw. The 'BB+/RR1' rating,
two notches above United's 'BB-' Issuer Default Rating (IDR),
reflects the high level of projected recovery.

Expected recoveries for series B noteholders would be weak, in the
'RR5' range, reflecting a high probability of lease payment
shortfalls in a post-rejection scenario. The one-notch differential
between the 'B+/RR5' rating of the series B notes and United's
'BB-' corporate IDR captures this weak recovery potential.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for Air 2 US
include:

-- A stress scenario where the underlying releases are rejected
    in the near- to intermediate-term
-- Lease rates come under pressure, falling below current market
    rates
-- The collateral aircraft experience a re-leasing period of six
    months

RATING SENSITIVITIES

The ratings are primarily driven by Fitch's recovery expectations
and by the IDR of the underlying airline. However, consistent with
Fitch's recovery criteria, Fitch is unlikely to upgrade the A
tranche above 'BB+' if United's IDR were upgraded to 'BB'. The B
tranche ratings could be upgraded if Fitch were to upgrade the
ratings on United. The Ratings Outlook for United is Positive.
Conversely, ratings for the A tranche would likely remain stable if
the airline IDR was downgraded (not anticipated at this time) while
the B tranche would likely be downgraded by one notch.

Fitch has taken the following rating actions:

AIR 2 US

-- Series A enhanced equipment notes affirmed at 'BB+/RR1';
-- Series B enhanced equipment notes upgraded to 'B+/RR5' from
    'B/RR5'.



ALLIED SYSTEMS: Fails to Win Confirmation of Ch. 11 Plan
--------------------------------------------------------
Law360 reported that during a hearing, Judge Christopher Sontchi of
the U.S. Bankruptcy Court for the District of Delaware sustained
the objection of the Official Committee of Retirees to ASHINC
Corporation, et al.'s First Amended Joint Chapter 11 Plan.

The Debtors seek to cut off the retirees' benefits without going
through several processes under the Bankruptcy Code.  According to
Law360, during the hearing, Judge Sontchi said from the bench, "As
much as I support the coming together of parties on a plan, I
simply cannot provide you with the relief you are seeking."

Catherine Nownes-Whitaker, an employee of Rust Consulting/Omni
Bankruptcy, filed a declaration with the Court stating that an
overwhelming majority of holders of claims entitled to vote on the
Plan voted to accept the Plan.  According to Ms. Nownes-Whitaker,
100% of holders of Class 2 - First Lien Lender Claims and 96.97% of
holders of Class 5 - General Unsecured Claims voted to accept the
Plan.

On Sept. 9, the Debtors amended their Plan to provide that Yucaipa
will receive the treatment afforded to holders of First Lien Claims
who are Non-Electring First Lien Lenders in Class 2.  Yucaipa's
treatment will be comprised of the following:

   (a) On the Effective Date, the First Lien Agents will deposit
       into the Disputed First Lien Obligations Escrow 55.2% of
       the amounts in the First Lien Reserves.

   (b) On the Effective Date, the Debtors will deposit into the
       Disputed First Lien Obligations Escrow the sum of
       $1,435,200, representing Yucaipa's Pro Rata share of the
       First Lien Lender Cash Distribution.

   (c) With respect to the Litigation Claims prior to the date
       thereof requiring different treatment, deposit into the
       Disputed First Lien Obligations Escrow of Yucaipa's Pro
       Rata share of the First Lien Lender Deferred Distribution
       (i.e., $552,000 in the aggregate) at the time or times such
       distributions are required to be made pursuant to the Plan.

   (d) With respect to the Litigation Claims prior to the date
       thereof requiring different treatment, deposit into the
       Disputed First Lien Obligations Escrow of Yucaipa's Pro
       Rata share of any subsequent distribution made by the
       Debtors, the First Lien Agents or the Plan Administrator
       from the First Lien Reserves, the Winddown Reserve or any
       other reserves established pursuant to the Plan or
       otherwise comprising Cash Collateral, at the same time as
       the Pro Rata shares of those distributions are distributed
       to each other First Lien Lender.

   (e) The Plan and Confirmation Order will have no effect on or
       prejudice in any way Yucaipa or the Plan Proponents'
       rights, claims or defenses or be used in any way in any
       litigation involving (i) Yucaipa, (ii) the Plan Proponents,
       or (iii) any of the Debtors' current or former officers or
       directors, provided however,that the Plan and Confirmation
       Order may be used in any litigation, contested matter or
       adversary proceeding seeking to enforce the terms of the
       Plan.

The Official Committee of Retirees objected to the Plan Proponents'
proposal that, pursuant to a plan amendment to be filed, they now
will seek to confirm their Plan without complying with Section
1129(a)(13) of the Bankruptcy Code.  According to the Retirees'
Committee, the Plan Proponents now propose that they will not seek
authorization at the confirmation hearing to terminate the retiree
medical benefits but will do so post-confirmation, and that the
termination is a "post-confirmation condition of the effective
date" of their Plan as further amended.

The U.S. Trustee also objected to the Plan, essentially raising
four issues, two of which -- the inclusion of "Debtors" in the
definition of "Released Parties" and the failure to file Monthly
Operating Reports should be dispatched by a technical,
non-substantive Plan Amendment and the filing of the necessary
reports.  The U.S. Trustee Objection also claims that the Plan's
exculpation provision is impermissible and otherwise overbroad and
that the Plan was not proposed in good faith because the
exculpation is over broad, the releases are improper and "[b]ased
upon the totality of the circumstances."

In response to the U.S. Trustee's objection, the Plan Proponents
strenuously dispute the Exculpation Objection and the Bad Faith
Objection.  First, the Plan itself, and the compromises and
agreements embodied in it, were unquestionably the result of
good-faith, arm's length negotiations by, between and among the
Plan Proponents and the Debtors' primary constituents.  Second, the
Plan's exculpation is narrowly-tailored, customary and appropriate
in the context of the case.

John F. Blount, president and CEO/Wind-Down Officer of ASHINC
Corp., filed a declaration in support of confirmation of the Plan.
Mr. Blount maintains that the Plan fully complies with all of the
applicable provisions of Section 1129.

A full-text copy of the First Amended Plan dated Sept. 9 is
available at http://bankrupt.com/misc/ASHplan0909.pdf

Full-text copies of Plan Exhibits filed Sept. 8 are available at
http://bankrupt.com/misc/ASHplansupp0908.pdf

The Debtors are represented by Marisa A. Terranova, Esq., and Mark
D. Collins, Esq., Richards, Layton & Finger, P.A., in Wilmington,
Delaware; and Jeffrey W. Kelley, Esq., and Matthew R. Brooks, Esq.,
at Troutman Sanders LLP, in Atlanta, Georgia.

The Official Committee of Unsecured Creditors is represented by
William A. Hazeltine, Esq., and William D. Sullivan, Esq., at
Sullivan Hazeltine Allinson LLC, in Wilmington, Delaware; and
Michael G. Burke, Esq., and Brian Lohan, Esq., at Sidley Austin
LLP, in New York.

The First Lien Agents are represented by Adam G. Landis, Esq., and
Kerri K. Mumford, Esq., at Landis Rath & Cobb LLP, in Wilmington,
Delaware; and Adam C. Harris, Esq., David M. Hillman, Esq., and
Robert J. Ward, Esq., at Schulte Roth & Zabel LLP, in New York.

The Retirees' Committee is represented by Bruce Grobsgal, Esq., in
Wilmington, Delaware.

                    About Allied Systems Holdings

BDCM Opportunity Fund II, LP, Spectrum Investment Partners LP, and
Black Diamond CLO 2005-1 Adviser L.L.C., filed involuntary
petitions for Allied Systems Holdings Inc. and Allied Systems Ltd.
(Bankr. D. Del. Case Nos. 12-11564 and 12-11565) on May 17, 2012.
The signatories of the involuntary petitions assert claims of at
least $52.8 million for loan defaults by the two companies.

Allied Systems, through its subsidiaries, provides logistics,
distribution, and transportation services for the automotive
industry in North America.

Allied Holdings Inc. first filed for chapter 11 protection (Bankr.
N.D. Ga. Case Nos. 05-12515 through 05-12537) on July 31, 2005.
Jeffrey W. Kelley, Esq., at Troutman Sanders, LLP, represented the
Debtors in the 2005 case.  Allied won confirmation of a
reorganization plan and emerged from bankruptcy in May 2007 with
$265 million in first-lien debt and $50 million in second-lien
debt.

The petitioning creditors said Allied defaulted on payments of
$57.4 million on the first lien debt and $9.6 million on the
second.  They hold $47.9 million, or about 20% of the first-lien
debt, and about $5 million, or 17%, of the second-lien obligation.

They are represented by Adam G. Landis, Esq., and Kerri K.
Mumford, Esq., at Landis Rath & Cobb LLP; and Adam C. Harris,
Esq.,
and Robert J. Ward, Esq., at Schulte Roth & Zabel LLP.

Allied Systems Holdings Inc. formally put itself and 18
subsidiaries into bankruptcy reorganization June 10, 2012,
following the filing of the involuntary Chapter 11 petition.

The Company is being advised by Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., and Jeffrey W. Kelley, Esq., at
Troutman Sanders, Gowling Lafleur Henderson.

The bankruptcy court process does not include captive insurance
company Haul Insurance Limited or any of the Company's Mexican or
Bermudan subsidiaries.  The Company also announced that it intends
to seek foreign recognition of its Chapter 11 cases in Canada.

An official committee of unsecured creditors has been appointed in
the case.  The Committee consists of Pension Benefit Guaranty
Corporation, Central States Pension Fund, Teamsters National
Automobile Transporters Industry Negotiating Committee, and
General Motors LLC.  The Committee is represented by Sidley Austin
LLP.

In January 2014, the U.S. Trustee for Region 3 appointed a three-
member Official Committee of Retirees.

Yucaipa Cos. has 55% of the senior debt and took the position it
had the right to control actions the indenture trustee would take
on behalf of debt holders.  The state court ruled in March 2013
that the loan documents didn't allow Yucaipa to vote.

In March 2013, the bankruptcy court gave the official creditors'
committee authority to sue Yucaipa.  The suit includes claims that
the debt held by Yucaipa should be treated as equity or
subordinated so everyone else is paid before the Los Angeles-based
owner. The judge allowed Black Diamond to participate in the
lawsuit against Yucaipa and Allied directors.

Yucaipa American Alliance Fund I, L.P., Yucaipa American Alliance
(Parallel) Fund I, L.P., Yucaipa American Alliance Fund II, L.P.,
Yucaipa American Alliance (Parallel) Fund II, L.P., represented by
Michael R. Nestor, Esq., and Edmund L. Morton, Esq., at Young
Conaway Stargatt & Taylor, LLP; and Robert A. Klyman, Esq., at
Gibson, Dunn & Crutcher LLP.

First Lien Agent, Black Diamond Commercial Finance, L.L.C.,
represented by Adam G. Landis, Esq., and Kerri K. Mumford, Esq.,
at Landis Rath & Cobb LLP; and Adam C. Harris, Esq., Robert J.
Ward, Esq., and David M. Hillman, Esq., at Schulte Roth & Zabel
LLP.

Allied Systems Holdings, Inc., has changed its name to ASHINC
Corporation.

                          *     *     *

ASHINC Corporation, f/k/a Allied Systems Holdings, Inc., and its
debtor affiliates filed with the U.S. Bankruptcy Court for the
District of Delaware a joint Chapter 11 plan of reorganization,
co-proposed by the Committee and the first lien agents.

The Plan provides that certain of the Debtors' assets, the
Litigation Trust Assets, will vest in the Allied Litigation Trust,
and the remainder of the Debtors' assets, including the proceeds
from the sale of substantially all of the Debtors' assets, will
either revest in the Reorganized Debtors or be distributed to the
Debtors' creditors.


AMERICAN HOUSING: King Claims Should Be Subordinated, Court Rules
-----------------------------------------------------------------
Judge Robert L. Jones of the United States Bankruptcy Court for the
Northern District of Texas, Amarillo Division, in a decision dated
Aug. 27, 2015, issued supplemental findings of fact and
supplemental and amended conclusions of law, to supplement and
amend the Court's findings and conclusions issued on March 31,
2015.

Judge Jones concluded that even if Defendants Paul King, et al.'s
liquidated claims were not characterized as equity investments, all
of the Defendants' claims -- whether liquidated or unliquidated --
are claims for damages arising from the purchase or the sale of a
security of an affiliate of AHF.  The Defendants' claims as
represented by their respective proofs of claim would be
subordinated under Section 510(b) of the Bankruptcy Code, Judge
Jones ruled.

The adversary proceeding is WALTER O'CHESKEY, Trustee, Plaintiff,
v. PAUL KING, et al. Defendants, ADVERSARY NO. 11-02133 (Bankr.
N.D. Tex.).  

The bankruptcy case is IN RE: AMERICAN HOUSING FOUNDATION, Debtor,
CASE NO. 09-20232-RLJ-11 (Bankr. N.D. Tex.).

A full-text copy of Judge Jones' Decision is available at
http://tinyurl.com/n9gc355from Leagle.com.

Walter Ocheskey, Plaintiff, represented by Evan Russell Baker, Esq.
-- ebaker@gardere.com -- Gardere Wynne Sewell LLP, Barry M. Golden,
Esq., Gardere Wynne Sewell, LLP, Marcus Alan Helt, Esq. --
mhelt@gardere.com -- Gardere Wynne Sewell LLP, Stephen A. McCartin,
Esq. -- smccartin@gardere.com -- Gardere Wynne Sewell LLP, and
Benjamin H. Price, Esq., at Gardere Wynne Sewell, LLP.

Paul King, Defendant, represented by Robert L. Templeton, Esq. --
robert@templetonsmithee.com -- Templeton Smithee Hayes Heinrich &
Russe.


ANDALAY SOLAR: Provides Business Update; COO Resigns
----------------------------------------------------
Andalay Solar, Inc. provided an update on recent changes and its
go-to-market approach.

In an effort to substantially cut its operating losses and focus on
its core goals, the Company decided to pursue a licensing strategy
which should enable it to cut costs by closing the product
distribution and installation business, and materially reducing the
operating and compensation expenses.  Going forward, the Company
plans to pursue a leanly-staffed licensing business model and work
with strategic partners and other third parties to produce, market
and sell Andalay products.  Existing and prospective customers are
now able to purchase both the Andalay mounting hardware as well as
the Andalay compatible produced by Hyundai from the Company's new
distributors, Magerack Corporation in California (www.magerack.com)
and Rectify Solar in Indiana (www.rectifysolar.com).

As indicated in the past, it is very difficult for a small company
like Andalay to compete as a manufacturer making direct sales of a
full solar kit (module, inverter and mounting hardware).  That
business model is very capital intensive and, as such, it became
hard to avoid low revenues and low margins and the business is less
attractive to key banks and solar leasing companies potential
investors.

Andalay's licensing strategy for the future is designed to provide
economies of scale to reduce working capital strain and facilitate
increased gross margins to enable the Company to more rapidly scale
sustainable and accretive growth in revenue, as well as eventual
profits.  The principle building blocks and milestones for this new
strategy include:

  * partnering with Tier One module companies to license the
    Andalay technology.  As part of this, JinkoSolar will exhibit
    the Andalay compatible modules with Andalay's Instant Connect  

    frame technology at Booth #2905, Solar Power International,
    taking place at the Anaheim Convention Center in Anaheim,
    California, Sept. 14-17, 2015;

  * partnering with Top 20 residential installers and distributors
    as customers;

  * becoming bankable among the key banks and solar leasing
    companies that service our industry.  As part of this effort,
    the Andalay compatible Hyundai modules have already been
    approved by the leasing companies, Sunnova Solar Energy and
    NRG Home Solar;

  * outsourcing or licensing the distribution, manufacturing and
    customer service on favorable terms;

  * focusing sales on the Company's proprietary mounting hardware
    as opposed to a full solar kit; and

  * resolving the historical debt and accounts payables and
    raising new financing to fund the working capital necessary to
    enable the Company to implement its new strategy to grow its
    revenues, margins and profits.

The Company is in the process of implementing these initiatives
with its customers and prospects and is updating the website to
reflect this new direction.  There are Andalay compatible Hyundai
modules and Andalay mounting hardware available for purchase
immediately via Magerack and Rectify.

The Company expects to issue its Q2 2015 results and related filing
within two weeks.  Some key highlights to note include the
following:

  * Q2 2015 revenues were approximately $340,000.  As part of the
    shift to focus purely on the new strategy, ongoing revenues
    will be minimal unless and until the Company can start to ramp
    up the licensing related sales to top 20 installers.  Andalay
    expects this ramp up to occur no earlier than the Spring or
    Summer 2016 due to the long evaluation process that these
    installers customarily engage in as well as the seasonality of

    the solar industry with relatively lower sales in the Winter
    months;

  * There will be a large inventory write-off of approximately
    $214,000 associated with disposing of inventory for prior
    generation or obsolete product and a lower of cost or market
    provision of approximately $140,000 for product on consignment
    at three distribution partners at prices that are reflective
    of current market price, as opposed to the original cost, much

    of which was purchased a number of years ago;

  * There will be restructuring and severance related expenses
    reflected in Q3 2015;

  * There will be a large one time gain associated with a
    settlement agreement signed with a prior service provider
    which will reduce long terms accounts payable by over
    $700,000; and

  * In September, the Company changed its address to 2721 Shattuck
    Avenue, #305, Berkeley, CA 94705.

Wei-Tai Kwok, the chief operating officer and member of the board
of directors of Andalay, resigned his board director position on
Aug. 26, 2015, and departed as Andalay's chief operating officer on
Sept. 4, 2015.  He is assisting with an orderly transition of his
duties and responsibilities for a one month transition period.
Wei-Tai made great contributions to Andalay during his time at the
Company and will be missed.

The Company is still working with financial advisors to raise
capital and settle past debts and accounts payables.  It is
critical to Andalay's future that it successfully does this in
order to have the financial strength to be able to execute on the
future strategy.

                        About Andalay Solar

Founded in 2001, Andalay Solar, Inc., formerly Westinghouse Solar,
Inc., is a provider of innovative solar power systems.  In 2007,
the Company pioneered the concept of integrating the racking,
wiring and grounding directly into the solar panel.  This
revolutionary solar panel, branded "Andalay", quickly won industry
acclaim.  In 2009, the Company again broke new ground with the
first integrated AC solar panel, reducing the number of components
for a rooftop solar installation by approximately 80 percent and
lowering labor costs by approximately 50 percent.  This AC panel,
which won the 2009 Popular Mechanics Breakthrough Award, has
become the industry's most widely installed AC solar panel.  A new
generation of products named "Instant Connect" was introduced in
2012 and is expected to achieve even greater market acceptance.

Andalay Solar reported a net loss attributable to common
stockholders of $1.87 million for the year ended Dec. 31, 2014,
compared with a net loss attributable to common stockholders of
$3.85 million for the year ended Dec. 31, 2013.

As of March 31, 2015, the Company had $2.55 million in total
assets, $4.68 million in total liabilities and a $2.12 million
total stockholders' deficit.

Burr Pilger Mayer, Inc., in San Jose, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company's significant
operating losses and negative cash flow from operations raise
substantial doubt about its ability to continue as a going concern.


API TECHNOLOGIES: Appoints New Chief Financial Officer
------------------------------------------------------
API Technologies Corp. announced that Eric F. Seeton has been named
chief financial officer effective Sept. 8, 2015.

"I am very excited to announce the appointment of Eric Seeton as
API's new CFO," said Robert Tavares, president and chief executive
officer, API Technologies.  "Eric is an accomplished finance
executive and RF/microwave technology veteran.  His previous
success driving profitability and performance improvements for both
public and private companies will be invaluable as we continue to
grow the API business.  Eric is a strong addition to the executive
team who will provide the strategic financial oversight and
commitment to LEAN practices that will create even greater value
for our customers, employees, and shareholders."

Mr. Seeton comes to API with 20 years of experience in the
RF/Microwave and healthcare industries.  Prior to joining API, Mr.
Seeton served as Business Unit Finance Director for Analog Devices,
a $3 billion manufacturer of integrated circuits.  He joined Analog
Devices as part of its July 2014 acquisition of Hittite Microwave
Corp., where Mr. Seeton served as Hittite's Director of Finance for
three years.  Earlier in his career, he served various finance
leadership roles at Johnson & Johnson and Procter & Gamble
(formerly The Gillette Company).  Mr. Seeton holds an MBA from
Cornell University and a B.S. in Accounting from Bentley College in
Waltham, MA.

Claudio Mannarino, who has served as senior vice president and
chief financial officer, will transition to another role at API.

Mr. Seeton's employment with the Company is at-will.

Mr. Seeton will be paid an annual base salary of $225,000.  

He will have the opportunity to earn an annual target cash
incentive bonus.  His target cash incentive bonus will be 40% of
his base salary.  The cash incentive bonus will be based on
achievement of performance goals as established by the Compensation
Committee of the Board of Directors for the applicable year.  For
the fiscal year ending Nov. 30, 2015, Mr. Seeton will be entitled
to a minimum $30,000 cash incentive bonus.

                      About API Technologies

API Technologies designs, develops and manufactures electronic
systems, subsystems, RF and secure solutions for technically
demanding defense, aerospace and commercial applications.  API
Technologies' customers include many leading Fortune 500
companies.  API Technologies trades on the NASDAQ under the symbol
ATNY.  For further information, please visit the Company Web site
at http://www.apitech.com/           

API Technologies reported a net loss attributable to common
shareholders of $19.3 million for the year ended Nov. 30, 2014,
compared to a net loss attributable to common shareholders of $8.28
million for the year ended Nov. 30, 2013.

As of May 31, 2015, the Company had $278.4 million in total assets,
$174.4 million in total liabilities and $104.1 million in
shareholders' equity.

                           *     *     *

As reported by the TCR on Feb. 14, 2013, Moody's Investors Service
has withdrawn all ratings of API Technologies, including its
'Caa1' Corporate Family Rating and negative outlook due to the
repayment of all rated debt.  On Feb. 6, 2013, API Technologies
completed a refinancing of its previously outstanding rated
bank debt.  All ratings of API have been withdrawn since the
company has no rated debt outstanding.

In the Feb. 22, 2013, edition of the TCR, Standard & Poor's
Ratings Services said that it lowered its corporate credit rating
on API Technologies to 'B-' from 'B'.

"The downgrade reflects weaker-than-expected credit metrics
resulting from less-than-expected improvements in operating
performance and higher debt, including a modest increase from the
recent refinancing," said Standard & Poor's credit analyst Chris
Mooney.


BEHAVIORAL SUPPORT: Court Okays Gray Robinson as Special Counsel
----------------------------------------------------------------
Behavioral Support Services, Inc. sought and obtained permission
from the Hon. Karen S. Jennemann of the U.S. Bankruptcy Court for
the Middle District of Florida to employ Peter Antonacci and Gray
Robinson, P.A. as special counsel, nunc pro tunc to the June 2,
2015 petition date.

The scope of professional services that Mr. Antonacci and Gray
Robinson will provide include, but shall not be limited to, the
following:

   (a) assisting the Debtor and its general counsel in any
       dealings, including discussions and negotiations, with any
       administrative bodies, including the Florida Agency for
       Health Care Administration ("AHCA"); and

   (b) advising the Debtor and its general counsel of duties
       concerning applicable healthcare laws, regulations, and
       related issues concerning the Debtor's Waiver Services
       Agreement and other provider agreements as may be related
       to Medicaid.

Mr. Antonacci and Gray Robinson will be paid at these hourly
rates:

       Peter Antonacci                  $575
       Shareholders                     $395-$575
       Associates and Of Counsel        $210-$350
       Paralegals                       $100-$175

Gray Robinson will also be reimbursed for reasonable out-of-pocket
expenses incurred.

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

Gray Robinson can be reached at:

       Peter Antonacci, Esq.
       GRAY ROBINSON, P.A.
       301 South Bronough Street, Suite 600
       P.O. Box 11189 (32302-3189)
       Tallahassee, FL 32301
       Tel: (850) 577-9090
       Fax: (850) 577-3311
       E-mail: peter.antonacci@gray-robinson.com

               About Behavioral Support Services

Altamonte Springs, Florida-based Behavioral Support Services, Inc.,
is an operator of an out-patient mental health care facility.

The Company sought Chapter 11 protection (Bankr. M.D. Fla. Case No.
15-bk-04855) on June 2, 2015.  The Debtor disclosed $13,969,705 in
assets and $989,929 in liabilities as of the Chapter 11 filing.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due Sept. 30, 2015.

The Debtor tapped Elizabeth A. Green, Esq., at Baker &
Hostetler LLP, as counsel.



BIRCH GROVE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Birch Grove Landscaping & Nursery, Inc.
        Post Office Box 117
        East Aurora, NY 14052

Case No.: 15-11984

Chapter 11 Petition Date: September 18, 2015

Court: United States Bankruptcy Court
       Western District of New York (Buffalo)

Judge: Hon. Carl L. Bucki

Debtor's Counsel: Daniel F. Brown, Esq.
                  ANDREOZZI, BLUESTEIN, WEBER, BROWN, LLP
                  333 International Drive, Suite B-4
                  Williamsville, NY 14221
                  Tel: 716-633-3200
                  Fax: 716-633-0301
                  Email: dfb@abfmwb.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jason L. Burford, chief operating
officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nywb15-11984.pdf


BLUE RACER: S&P Affirms 'B+' CCR & Revises Outlook to Negative
--------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
corporate credit rating on Blue Racer Midstream LLC and revised the
outlook to negative from stable.  S&P affirmed the 'B' issue-level
rating and a '5' recovery rating to the $850 million senior
unsecured notes due 2022.  The '5' recovery rating indicates that
lenders can expect "modest" (10% to 30%; upper half of the range)
recovery of principal if a payment default occurs.  At the same
time, S&P affirmed the 'BB' issue-level rating on the company's
senior secured revolving credit facility and left the '1' recovery
rating unchanged.  The '1' recovery rating indicates very high (90%
to 100%) recovery.

"The outlook revision reflects our expectation of continued
weakness in natural gas liquids prices through 2016, which will
result in lower volumes than originally anticipated," said Standard
& Poor's credit analyst Mike Llanos.

More than 90% of Blue Racer's cash flows are fee-based, thus the
company has very limited commodity price exposure.  However, the
lower commodity prices have reduced the expected pace of volume
growth as producers cut back on drilling.  S&P now expects EBITDA
and financial leverage will be weaker than its previous
expectation.  Nevertheless, volumes continue to increase in the
areas Blue Racer serves and the company continues to expand its
asset base.  Blue Racer's capital spending will continue to be
high, which, coupled with lower anticipated volumes, leads to
financial leverage of 5x to 5.5x in 2016 before improving to 4.5x
to 5x in 2017.

S&P's 'B+' rating on Blue Racer reflects S&P's assessment of its
"weak" business risk profile and "aggressive" financial risk
profile.  The "weak" business risk profile reflects the company's
limited scale and lack of geographic diversity, construction risk
over the next 12 months, and its limited track record operating as
a stand-alone entity. Offsetting those factors is the high
percentage of fee-based contracts.

The negative outlook reflects S&P's belief that Blue Racer's debt
to EBITDA ratio will exceed 5x through 2016 due to high capital
spending and lower volumes than originally anticipated.



BRAZOS PRESBYTERIAN: Fitch Affirms 'BB+' Rating on 2013A&B Bonds
----------------------------------------------------------------
Fitch Ratings has affirmed the 'BB+' rating on Brazos Presbyterian
Homes' series 2013A&B bonds. Brazos also has a $25 million draw
down construction loan with BB&T, which will be temporary debt and
repaid with initial entrance fees by the final maturity on Dec. 1,
2018.

The Rating Outlook is Stable.

SECURITY

The bonds are secured by a gross revenue pledge, mortgage pledge
and debt service reserve fund.

KEY RATING DRIVERS

SIGNIFICANT EXPANSION PROJECT ALMOST COMPLETE: Brazos is
undertaking a significant expansion and renovation project at its
Brazos Towers community (funded mainly from series 2013 bond
proceeds), which will provide upgraded units and common area spaces
to meet current market demand. The project includes 84 additional
independent living units (ILU), 33 assisted living units (ALU), new
common area spaces including a fitness center, pool and an informal
dining option as well as the renovation of its health center, which
will provide a higher percentage of private rooms. The total
project cost is approximately $94 million. The project is 84%
complete and is on budget despite being several months behind
schedule due to weather conditions that delayed construction. The
ILUs are expected to be ready for occupancy in December 2015
compared to July 2015 in the original feasibility study.

VERY HIGH DEBT BURDEN: Brazos' debt burden is extremely high with
MADS accounting for 33.4% of total revenue in 2014 (fiscal year end
Dec. 31). Historical pro forma MADS coverage is light at 1.2x in
2014 and 1.5x in 2013 and was 1.7x through the six months ended
June 30, 2015 but adequate for the rating level. In addition, debt
service coverage based on MADS, including the debt for the
expansion project, will only be calculated upon stabilized
occupancy (85% in bond documents) of the expansion project.
Coverage in 2017 is expected to be around 1.75x.

GOOD PROFITABILITY: Brazos' profitability has improved with
operating ratio falling below 100% in 2013 and sustained through
the six months ended June 30, 2015. Management attributes good
profitability to solid rate increases and continued expense
management.

CONSISTENT OCCUPANCY: Demand is good and exhibited by solid
occupancy at both communities, but Brazos Towers' occupancy has
slipped slightly. Brazos Towers' ILU occupancy was 88% through the
six months ended June 30, 2015 compared to 90% in 2014 and 95% in
2013. Hallmark has maintained higher occupancy with 94% ILU
occupancy through June 30, 2015 compared to 96% in 2014 and 91% in
2013. The construction project is expected to enhanced occupancy
and demand for Brazos Towers and pre-sales for the expansion
project are at 100% (84 units reserved with 10% deposits).

SOLID LIQUIDITY: Brazos' liquidity is solid with 1,165 days cash on
hand and 48.6% cash to debt at June 30, 2015. The cash to debt
figure includes the temporary debt, but only $500,000 was
outstanding as of June 30, 2015. The 10% deposits and subsequent
conversion to initial entrance fees will be segregated in
restricted cash on Brazos' balance sheet for the pay down of the
temporary debt. The initial entrance fee pool is projected to total
$29.7 million.

RATING SENSITIVITIES

EXECUTION OF EXPANSION PROJECT: Fitch views the level of presales
favorably, and the maintenance of the rating will be dependent on
Brazos' ability to convert the 10% deposits to move-ins on a timely
basis. The failure to achieve stabilized occupancy in a timely
manner could result in negative rating pressure given the
organization's highly leveraged position. A successful execution of
the project with improved debt ratios more in line for an
investment grade rated credit could result in upward movement of
the rating.

EXPOSURE TO BANK AGREEMENT TERMS: The BB&T loan is parity
indebtedness under the master trust indenture (MTI). The bank loan
includes certain non-financial related covenants that could trigger
a cross default and an acceleration of all parity debt with events
of default such as the failure to meet reporting requirements and
certain occupancy levels. Fitch views these terms negatively as it
places a significant amount of control with the bank as certain
events of default can be cured or waived by the bank to prevent an
acceleration of debt.

CREDIT PROFILE

Brazos is a Type B continuing care retirement community (CCRC) that
owns two communities, Brazos Towers at Bayou Manor (Brazos Towers)
and the Hallmark, located in Houston, TX. These communities have
been operated by Brazos since 1963 and 1972, respectively. Brazos
Towers currently has 89 ILUs, eight ALUs, and 37 licensed skilled
nursing (SNF) beds. The Hallmark has 125 ILUs, 12 ALUs, 10 memory
support units, and 32 bed SNF. Although the communities are only
approximately six miles apart, the resident draw for each community
is from different zip codes within the Houston area. Brazos had
$20.7 million in total revenue in 2014.

THE PROJECT

The expansion project at Brazos Towers has been in the planning
stages since 2008, and the project will include the addition of 84
ILUs, 33 ALUs with eight being dedicated to memory support, new
common spaces and amenities, additional parking and the renovation
of its healthcare center. Eight of the existing ALUs will be
converted to four ILUs. Spectrum is the developer for the expansion
project.

The total cost is $112 million and includes $94 million for the
construction and $18 million of financing related costs. The
sources of funding include $68 million from series 2013B bonds, $25
million in temporary debt (BB&T construction loan), $9 million from
series 2013A bonds, and $9.6 million equity contribution. The
project is 84% complete, and as of September 2015 is within budget
despite being behind schedule due to heavy rain in the area that
caused a delay in construction. Management indicated that there is
still approximately $2 million of project contingency remaining.

The renovation of the SNF first floor and new covered parking area
are complete and ILU construction started in January 2014. The
first ILU move in is now projected for December 2015 and management
expects a rapid fill and meeting the initial target of 93%
occupancy by December 2016. The ALUs and memory support units are
expected to be available for occupancy in January 2016 and reach
stabilized occupancy in January 2017. The second and third floor
health center renovation is complete, but the third floor is still
waiting for licensure from the state, which is expected by Sept.
30, 2015.

The project will result in a significant upgrade and modernization
of the community, which is important especially given the number of
competing facilities in the area. One of Brazos' main competitors,
Buckingham (rated 'BB'), is also undergoing a large expansion
project, but Brazos' project will be completed first. The project
is meeting the demand of prospective residents, and the wealth
level will increase as the entrance fees of the new units are
almost double the price of the existing ILUs. Fitch believes
Brazos' service area has favorable characteristics with good
demographics and a stable housing market.

VERY HIGH DEBT BURDEN

Total debt outstanding is $94.8 million, and only $500,000 of the
$25 million construction loan has been drawn down. Management
expects to draw down the remaining amount by the end of 2015. The
$25 million construction loan has a mandatory tender on Dec. 1,
2018 and is expected to be paid down in 2016 and 2017 as initial
entrance fees are received. The total entrance fee pool is
approximately $29.7 million. Total permanent debt is 100% fixed
rate and totals approximately $92 million at stabilization in 2017.


Debt service coverage is extremely dependent on entrance fee
receipts with revenue only coverage of 0.2x in 2013 and 2014.
Projected net turnover entrance fee receipts for 2014 were in line
with actual results at $6.4 million. Net turnover entrance fee
receipts for 2015-2017 are expected to be $6.5 million in 2015,
$7.3 million in 2016, and $8 million in 2017 and meeting these will
be key to covering its high debt service requirements. Historical
entrance fee receipts have been a little volatile due to the
improvement in occupancy mainly in 2012 and 2013 as well as the
sale of more refundable versus nonrefundable plans with $8.6
million net turnover entrance fees in 2013, $11.1 million in 2012,
and $5.8 million in 2011.

GOOD PROFITABILITY AND LIQUIDITY

Brazos' financial profile has improved steadily since 2008 as
occupancy has rebounded, which was primarily driven by the hiring
of Spectrum Consulting to assist with marketing. Profitability is
solid and debt service coverage is good excluding the debt related
to the expansion project. Current debt service coverage
calculations are based on a MADS of $2.2 million, which will
increase to $6.9 million once the ILU expansion units reach 85%
occupancy. Current debt service coverage for the trailing 12 months
ended June 30, 2015 was 4x.

Net operating margin - adjusted was 30.9% in 2014 compared to 34.4%
in 2013 and a significant improvement from 18.2% in fiscal 2008 and
was 36.9% through the six months ended June 30, 2015.

Strong cash flow has resulted in significant growth of the balance
sheet with total unrestricted cash and investments of $56.9 million
at June 30, 2015 from $22.4 million at fiscal year end 2008. At
June 30, 2015, this translated to 1,164 days cash on hand and 60.6%
cash to debt, which compares favorably to the 'BBB' category
medians. Including the full draw down of the temporary debt and
assuming no initial entrance fees are received, cash to debt falls
to 48%. Although Brazos' profitability and liquidity metrics are in
line with 'BBB' category medians, its high debt burden and risk
related to the expansion project currently keeps the rating below
investment grade.

CONSISTENT ILU OCCUPANCY

ILU occupancy improved since the hiring of Spectrum in 2009 and
financial incentives that were offered have been discontinued.
However, ILU occupancy at Brazos Towers has dropped from a high in
2013 at 95% to 90% in 2014 and was 88% through the six months ended
June 30, 2015. ILU occupancy at Hallmark has remained consistently
strong at 96% in 2014 compared to 91% in 2013 and 2012 and was 94%
through the six months ended June 30, 2015.

LEGAL PROVISIONS AND DISCLOSURE

Under the MTI, Brazos is required to maintain MADS coverage of 1.2x
(debt service of series 2013B bonds included at stabilization
(first fiscal year after achieving 85% ILU occupancy of expansion
project)), 180 days cash on hand and various marketing and
occupancy targets. There are no events of default related to the
liquidity, marketing or occupancy covenants. Events of default
include MADS coverage below 1.2x for two consecutive years and
below 180 days cash on hand or MADS coverage below 1x. The
construction loan contains more stringent covenants including 1.25x
debt service coverage and 225 days cash on hand and debt to
capitalization under 95%. Events of default under the construction
loan include the failure to meet financial reporting requirements
and timely notice of an event of default as well as not meeting
financial and occupancy covenants.

Brazos covenants to provide annual audits within 150 days of fiscal
year end and quarterly disclosure for all four quarters within 45
days of quarter end.

Outstanding debt:

-- $67.3 million Harris County Cultural Education Facilities
    Finance Corporation first mortgage revenue bonds series 2013B;


-- $24.5 million Harris County Cultural Education Facilities
    Finance Corporation first mortgage revenue bonds series 2013A.



BRINTON TOWERS: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Brinton Towers Realty LLC
        3000 Locust Street
        Pittsburgh, PA 15221

Case No.: 15-44289

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: September 18, 2015

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

Judge: Hon. Elizabeth S. Stong

Debtor's Counsel: David Carlebach, Esq.
                  THE CARLEBACH LAW GROUP
                  55 Broadway, Suite 1902
                  New York, NY 10006
                  Tel: (347) 329-1241
                  Fax: (646) 355-1916
                  Email: david@carlebachlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Leib Puretz, managing member.

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


BROOKE CORP: Trustee Blasts Kutak Rock's Bid to Exit $10MM Row
--------------------------------------------------------------
Lisa Ryan at Bankruptcy Law360 reported that Brooke Corp.'s
bankruptcy trustee slammed Kutak Rock LLP's bid to dodge his $10
million malpractice suit accusing the firm of helping conceal its
financial troubles, telling a Kansas federal court that he has
proof that the firm's failure to properly advise the insurance
agency franchiser caused more than $173 million in damages.

Trustee Christopher Redmond urged the court to nix Kutak Rock's
motion for summary judgment over legal malpractice and aiding and
abetting claims, saying there are still issues of fact at play over
whether Kutak's representation.

                       About Brooke Corp.

Based in Kansas, Brooke Corp. -- http://www.brookebanker.com/--  
was an insurance agency and finance company.  The company owned
81% of Brooke Capital.  The majority of the company's stock was
owned by Brooke Holding Inc., which, in turn was owned by the Orr
Family.  A creditor of the family, First United Bank of Chicago,
foreclosed on the BHI stock.  The company's revenues were
generated from sales commissions on the sales of property and
casualty insurance policies, consulting, lending and brokerage
services.

Brooke Corp. and Brooke Capital Corp. filed separate petitions for
Chapter 11 relief on Oct. 28, 2008; Brooke Investments, Inc. filed
for Chapter 11 relief on Nov. 3, 2008 (Bankr. D. Kan. Lead Case
No.
08-22786).  Angela R. Markley, Esq., was the Debtors' in-house
counsel.  Albert Riederer was appointed as the Debtors' Chapter 11
trustee.  He acted as special master of Brooke in prepetition
federal court proceedings.  Benjamin F. Mann, Esq., John J.
Cruciani, Esq., and Michael D. Fielding, Esq,, at Husch Blackwell
Sanders LLP, and Kathryn B. Bussing, Esq., at Blackwell Sanders
LLP, represented the Chapter 11 trustee as counsel.  David A.
Abadir, Esq., and Robert J. Feinstein, Esq., at Pachulski Stang
Ziehl & Jones LLP, Kristen F. Trainor, Esq., and Mark Moedritzer,
Esq., at Shook, Hardy & Bacon, represented the Official Committee
of Unsecured Creditors as counsel.  The Debtors disclosed assets
of
$512,855,000 and debts of $447,382,000.

On Oct. 29, 2008, the Court granted a motion to jointly administer
the bankruptcies of Brooke Corporation, Brooke Capital, and Brooke
Investment with the Brooke Corporation bankruptcy case being the
lead case.

The case was converted to Chapter 7 on June 29, 2009.  Christopher
J. Redmond was named Chapter 7 Trustee.  He is represented by
Benjamin F. Mann, Esq., John J. Cruciani, Esq., and Michael D.
Fielding, Esq., at Husch Blackwell LLP.


BUNKERS INTERNATIONAL: Hires Latham Shuker as Counsel
-----------------------------------------------------
Bunkers International Corp., and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the Middle
District of Florida to employ R. Scott Shuker and Latham, Shuker,
Eden & Beaudine, LLP as counsel, nunc pro tunc to Aug. 28, 2015.

In the continuation of the Debtors' estates and in the
administration of these cases, legal services will be required as
to, but not limited to:

   (a) advising as to the Debtors' rights and duties in this case;

   (b) preparing pleadings related to these cases, including a
       disclosure statement and a plan of reorganization; and

   (c) taking any and all other necessary action incident to the
       proper preservation and administration of these estates.

Latham Shuker will be paid at these hourly rates:

       Partners               $525-$350
       Associates             $290-$230
       Paraprofessionals      $160-$150

Latham Shuker will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Prior to the commencement of the case, Bunkers Corp. paid
$163,932.88 and AGB paid $11,956 as an advance fee for
post-petition services and expenses to be used for all Debtors.

Bunkers Corp. previously paid $80,000, on a current basis, for
services rendered and costs incurred prior to commencement of the
bankruptcy cases of the Debtors.

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

Latham Shuker can be reached at:

       R. Scott Shuker, Esq.
       LATHAM, SHUKER, EDEN & BEAUDINE, LLP
       111 N. Magnolia Ave., Suite 1400
       P.O. Box 3353
       Orlando, FL 32801
       Tel: (407) 481-5800
       Fax: (407) 481-5801
       E-mail: rshuker@lseblaw.com

                   About Bunkers International

Based in Lake Mary, Florida, Bunkers International trades and
provides fuel for ships at sea.  It provides physical supply,
trading, and brokering services from a number of global locating
including those in the U.S., Singapore, Greece, and the United
Kingdom, and says it is the largest marine fuel supplier in
Colombia through its BunkersOil Colombia joint venture with
Vanoil, S.A.  The Company started in Colombia in 1995.

Bunkers International Corp. and three affiliates sought Chapter 11
bankruptcy protection (Bankr. M.D. Fla. Proposed Lead Case No.
15-07397) on Aug. 28, 2015.  The petition was signed by John T.
Canal as president/CEO.  The Debtors estimated assets of $10
million to $50 million and liabilities of at least $10 million.
Latham, Shuker, Eden & Beaudine, LLP represents the Debtors as
counsel.


BUNKERS INTERNATIONAL: Taps Consulting CFO as Financial Advisors
----------------------------------------------------------------
Bunkers International Corp., and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the Middle
District of Florida to employ Consulting CFO, Inc. and Terry Soifer
as financial advisor, nunc pro tunc to Aug. 28, 2015.

The Debtors require Consulting CFO to:

   (a) review and analyze the Debtors' historical books and
       records and financial reports;

   (b) assist with the preparation and revision of pro forma cash
       flow statements;

   (c) assist with the preparation of month operating reports for
       the U.S. Trustee;

   (d) assist with the preparation of the Chapter 11 Plan and
       Disclosure Statement;

   (e) assist with reporting to secured creditors, and, if
       appointed, a Creditors Committee; and

   (f) other financial services as may be required from time to
       time.

Consulting CFO will be paid at these hourly rates:

       Terry Soifer             $275

Consulting CFO will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Prior to the commencement of this case, Bunkers Corp. paid $10,000
and Marine Fuels Management, LLC paid $3,337.25 as an advance fee
for post-petition services and expenses for all four cases.

Marine Fuels Management, LLC, previously paid $16,662.75, on a
current basis, for services rendered and costs incurred prior to
commencement of the bankruptcy cases of the Debtors.

Terry Soifer, president of Consulting CFO, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Consulting CFO can be reached at:

       Terry Soifer
       CONSULTING CFO, INC.
       2100 Lee Road, Suite F
       Winter Park, FL 32789
       Tel: (407) 628-5534
       Fax: (407) 628-4429
       E-mail: terry@terrysoifer.com

                   About Bunkers International

Based in Lake Mary, Florida, Bunkers International trades and
provides fuel for ships at sea.  It provides physical supply,
trading, and brokering services from a number of global locating
including those in the U.S., Singapore, Greece, and the United
Kingdom, and says it is the largest marine fuel supplier in
Colombia through its BunkersOil Colombia joint venture with
Vanoil, S.A.  The Company started in Colombia in 1995.

Bunkers International Corp. and three affiliates sought Chapter 11
bankruptcy protection (Bankr. M.D. Fla. Proposed Lead Case No.
15-07397) on Aug. 28, 2015.  The petition was signed by John T.
Canal as president/CEO.  The Debtors estimated assets of $10
million to $50 million and liabilities of at least $10 million.
Latham, Shuker, Eden & Beaudine, LLP represents the Debtors as
counsel.


CABLEVISION SYSTEMS: Fitch Puts 'BB-' IDR on Watch Negative
-----------------------------------------------------------
Fitch Ratings has placed the 'BB-' Issuer Default Rating (IDR) for
Cablevision Systems Corporation (CVC) and its wholly owned
subsidiary CSC Holdings, LLC (CSCH) on Rating Watch Negative. In
addition, Fitch has assigned recovery ratings and placed the
specific issue ratings assigned to CVC and CSCH on Rating Watch
Negative.

The Negative Watch arises from the September 17, 2015 announcement
by Altice N.V. that it would acquire CVC for $34.90 per share or an
enterprise value of $17.7 billion, including $8.4 billion of
existing debt. The transaction is expected to close in the first
half of 2016 after all necessary regulatory approvals are obtained.
Cablevision shareholders have approved the transaction, and the
transaction is not subject to further shareholder approval.

CVC will become an unrestricted subsidiary of Altice and will
maintain a separate capital structure. Financing plans have been
committed and will consist of $6 billion of incremental debt to be
issued at either CVC, or CSCH or a combination of both, and $3.3
billion of equity. Approximately 70% of the equity financing will
be committed by Altice. The remaining 30% will be syndicated to
co-investors and is backstopped by Altice. Altice also has
commitments to refinance $2.1 billion of outstanding term loans at
CSCH and $480 million of outstanding term loans at Newsday, LLC, a
CSCH subsidiary.

This transaction will represent Altice's second acquisition of a
U.S. cable operator this year. On May 20, 2015, Altice announced
its entry into the U.S. market with the acquisition of Suddenlink
Communications (Suddenlink), the seventh largest U.S. cable
operator with approximately 1.5 million subscribers in more than a
dozen states, for $9.1 billion. The purchase will be funded with
$6.7 billion of new and existing Suddenlink debt, a $500 million
vendor loan note from BC Partners and CPP Investment Board, and
$1.2 billion of cash. The transaction is valued at 7.6x pro forma
EBITDA (assumes $215 million of synergies) and is expected to close
in the fourth quarter of 2015.

Fitch anticipates resolving the Negative Watch around the time of
the closing of the transaction. In reviewing the transaction, Fitch
will focus on the financing of the transaction, the issuing
entities of the incremental debt, and the viability of the
potential synergies and their expected timing, among other
factors.

KEY RATING DRIVERS

-- The acquisition of CVC and Suddenlink by Altice will create
    the fourth largest MVPD operator in the U.S.

-- Although Altice has demonstrated its ability to achieve
    synergy targets at previous acquisitions, in Fitch's opinion,
    there is significant execution risk given that: 1) Altice is a

    new entrant to the U.S. market, 2) Altice has presented
    sizable synergies that may be difficult to realize entirely,
    and 3) it will not have contiguous operations that would
    benefit from scale efficiencies.

-- Excluding synergies, pro forma leverage for the transaction
    will increase to 8.5x from 5.2x at the end of second-quarter
    2015.

Improving Credit Profile: Fitch believes that Cablevision Systems
Corporation's (CVC) credit profile, while weakly positioned within
the current rating, will continue to strengthen in step with
anticipated improvement of its operating profile. This is the
result of its attempts to offset rising programming and employee
compensation costs with price increases and operational efficiency
initiatives aimed at accelerating revenue growth and improving
EBITDA margins.

Modest EBITDA Improvement: In addition to ongoing pricing
initiatives previously implemented, CVC's continuing operating cost
initiatives partially offset high single-digit programming cost
inflation by driving down other costs. These actions resulted in
EBITDA margin expansion of 136 bps to 28.4% in 2014 from the
previous year. However, Fitch does not believe that the operating
margin of CVC's core cable segment will return to historical levels
and CVC's EBITDA margins continue to lag those of its peer group.

Leverage Reduction: CVC's financial strategy is centered on
opportunistically reducing debt and improving its credit profile.
The company utilized cash from asset sales and litigation
settlements to reduce outstanding debt and ended second-quarter
2015 with leverage of 5.2x, which is an improvement from 5.3x and
5.8x at year-end 2014 and 2013, respectively. Fitch expects
initiatives to improve operational efficiency and ongoing pricing
actions will expand EBITDA margins modestly during 2015. The
operating initiatives and debt reduction should strengthen credit
protection metrics.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case include:

-- A $10 billion equity valuation that funded with $3.3 billion
    of equity from Altice and its co-investors, $6 billion of
    incremental debt, and cash on hand;

-- CVC revenue growth in the low-single digits, reflecting the
    maturity and high penetration rate of the company's services.

RATING SENSITIVITIES

The rating could be affirmed at the current level if, in Fitch's
view, CVC will be able to reduce leverage below 5.5x within a 18-24
month period and remain at that level on a sustainable basis.
Specifically, Fitch would want to see strengthening EBITDA margins
and strong progress on Altice's ability to realize expected
synergies.

Negative ratings actions would likely coincide with:

-- If the company does not present a credible deleveraging bring
    leverage below 5.5x times within 18-24 months.

-- EBITDA margins remain weak compared to peer group or as a
    result of inability to realize synergies.

LIQUIDITY

Fitch considers CVC's liquidity position and overall financial
flexibility to be adequate given the current rating. The company's
liquidity position is supported by cash on hand totaling $797
million as of June 30, 2015 and available borrowing capacity from
CSCH's $1.5 billion revolver expiring April 2018. Fitch expects
CVC's financial flexibility will strengthen in line with its
improving operating profile and FCF generation.

CVC reduced its annual term loan amortization payments after
issuing $750 million of senior notes due 2024 to prepay a portion
of its term loan B in May 2014. CSCH repaid an additional $200
million under its term loan B in April 2015. Scheduled maturities
at June 30, 2015 (excluding collateralized monetization
transactions) consist of $30 million during the remainder of 2015,
$564 million during 2016 and $1 billion in 2017.

The following ratings have been placed on Rating Watch Negative:

Cablevision Systems Corporation

-- IDR 'BB-';
-- Senior unsecured notes 'B+'.

CSC Holdings, LLC

-- IDR 'BB-';
-- Senior secured credit facility 'BB+;
-- Senior unsecured notes 'BB'.

Fitch has also assigned the following recovery ratings:

Cablevision Systems Corporation

-- Senior unsecured debt 'RR5'.

CSC Holdings, LLC

-- Senior secured credit facility 'RR1';
-- Senior unsecured debt 'RR2'.


CABLEVISION SYSTEMS: S&P Puts 'BB-' CCR on CreditWatch Negative
---------------------------------------------------------------
Standard & Poor's Ratings Services said it placed its ratings,
including its 'BB-' corporate credit rating, on New York City-based
Cablevision Systems Corp. and related entities on CreditWatch with
negative implications.

"The CreditWatch placement follows the announcement that
Cablevision has entered into a definitive agreement to be acquired
by Altice S.A. for approximately $17.7 billion including assumed
debt," said Standard & Poor's credit analyst Michael Altberg.

Based on S&P's expectation that the acquisition will be funded in
part with new and existing debt of $14.5 billion (over $6 billion
of incremental new debt), S&P estimates pro forma adjusted leverage
will be elevated in the high-7x area excluding synergies. This
compares to S&P's expectation of adjusted leverage in the mid-4x
area at Cablevision for 2015.

The CreditWatch listing reflects the likelihood of at least a one
notch downgrade upon completion of the acquisition by Altice.  S&P
will continue to monitor developments around the transaction,
including Altice's planned financing, and update S&P's CreditWatch
accordingly.



CALIFORNIA COUNTY: Fitch Lowers Ratings on 3 Tranches to 'B-sf'
---------------------------------------------------------------
Fitch Ratings has revised the ratings assigned to the outstanding
bonds issued by the California County Tobacco Securitization
Agency, (Fresno County Tobacco Asset Securitization Authority),
Series 2006; due to the discovery of a model input error and
resulting model input correction.  

The rating revisions are:

   -- 2006A to 'B-sf' from 'BBB+sf'; Outlook to Neg. from
      Stable;

   -- 2006B to 'B-sf' from 'BBBsf'; places on Rating Watch
      Neg.; and

   -- 2006C to 'B-sf' from 'BBsf'; places on Rating Watch
      Neg.

KEY RATING DRIVERS

The rating revisions relate to the discovery of an inaccurate model
input utilized in Fitch's cash flow modelling of the bonds. In the
last four annual reviews of the bonds, Fitch incorrectly
overestimated the amount of the Master Settlement Agreement (MSA)
payments allocated to the Fresno County trust.  The county of
Fresno has pledged 75% of its tobacco settlement revenues (TSRs);
however, in the last four annual reviews Fitch had applied 100% of
the TSRs to the trust, resulting in higher ratings.

In addition, the 2006B and 2006C bonds have been placed on Rating
Watch Negative pending the outcome of the previously announced
revision of Fitch's tobacco settlement ABS rating criteria (see
Fitch's press release dated July 22, 2015).  The criteria revision
could potentially result in downgrades for the 2006B and 2006C
bonds to a level below the current rating floor of 'B-sf'.  Fitch
expects that the revised criteria will be published at the end of
this month.  At that time, Fitch will resolve the outstanding
Rating Watch status of the bonds.

The ratings are based on the level of stress each class is able to
withstand as indicated by Fitch's breakeven cash flow model.  The
model indicates, for each class of bond, the level of the annual
MSA payment percentage change the trust would be able to sustain
and still pay the bond in full by the legal final date.  The cash
flow accounts for the amount of the MSA payment that the
transaction has received in 2015, the capital structure, the
reserve account, and the bond's legal final dates.

RATING SENSITIVITIES

Fitch runs different declines in MSA payment scenarios when
evaluating the rating sensitivity for tobacco settlement ABS.

DUE DILIGENCE USAGE

No third party due diligence was provided or reviewed in relation
to this rating action.



CHAMPION INDUSTRIES: Incurs $652,000 Net Loss in Third Quarter
--------------------------------------------------------------
Champion Industries, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $652,398 on $14.4 million of total revenues for the three months
ended July 31, 2015, compared to a net loss of $587,462 on $15.3
million of total revenues for the same period in 2014.

For the nine months ended July 31, 2015, the Company reported a net
loss of $1.1 million on $45.5 million of total revenues compared to
a net loss of $1.5 million on $45.7 million of total revenues for
the same period during the prior year.

As of July 31, 2015, the Company had $22.9 million in total assets,
$20.7 million in total liabilities and $2.1 million in total
shareholders' equity.

A full-text copy of the Form 10-Q is available for free at:

                        http://is.gd/JAWRpK

                      About Champion Industries

Champion Industries, Inc., is engaged in the commercial printing
and office products and furniture supply business in regional
markets east of the Mississippi River.  The Company also publishes
The Herald-Dispatch daily newspaper in Huntington, West Virginia
with a total daily and Sunday circulation of approximately 23,000
and 28,000.

Champion Industries reported a net loss of $1.13 million for the
year ended Oct. 31, 2014, compared to net income of $5.71 million
in 2013.


CICERO INC: Stockholders Approve 13 Proposals at Annual Meeting
---------------------------------------------------------------
At an annual meeting of stockholders of Cicero, Inc. which was held
on Sept. 11, 2015, the stockholders voted on 13 proposals as
follows:

   (1) elected John L. Steffens, John Broderick, Mark Landis,
       Bruce D. Miller, Don Peppers, Ryan Levenson and Thomas   
       Avery to the Board of Directors to serve until the 2016
       Annual Meeting and until their respective successors are
       elected and qualified, or until such director's earlier
       resignation or removal;

   (2) approved an amendment to the Company's Amended and Restated
       Certificate of Incorporation to increase the number of
       authorized shares of common stock from 215 million to 600
       million;

   (3) approved an amendment to Article IV (Conversion) of the
       Series A-1 Convertible Preferred Stock Certificate of
       Designations to the effect that the Series A-1 Preferred
       Stock will automatically convert into common stock upon the
       Company consummating an equity financing for at least
       $1 million;

   (4) approved an amendment to Section 6 (Automatic Conversion)
       of the Series B Convertible Preferred Stock Certificate of
       Designations to the effect that the Series B Preferred
       Stock will automatically convert into common stock upon the

       Company consummating an equity financing for at least
       $1 million;

   (5) approved an amendment to the Company's Amended and Restated
       Certificate of Incorporation to allow stockholders to be
       able to act by written consent only while Privet Fund LP
       and its affiliates own an aggregate of at least 30% of the
       Company's outstanding voting stock;

   (6) approved an amendment to the Company's Amended and Restated
       Certificate of Incorporation to provide that only the Board
       of Directors may call a special meeting of stockholders of
       the Company;

   (7) approved an amendment to the Company's Amended and Restated
       Certificate of Incorporation to renounce the Company's
       expectancy regarding certain corporate opportunities
       presented to Privet Fund LP and its affiliates;

   (8) approved an amendment to the Company's Amended and Restated

       Certificate of Incorporation to not be governed by the
       provisions of Section 203 of the Delaware General
       Corporation Law;

   (9) approved an amendment to the Company's Amended and Restated
       Certificate of Incorporation establishing the courts
       located within the State of Delaware as the exclusive forum

       for the adjudication of certain legal actions by the
       stockholders;

  (10) approved an amendment to the Company's Amended and Restated
       Certificate of Incorporation to authorize 10 million shares
       of "blank check" preferred stock;

  (11) approved, by non-binding vote, the Company's executive
       compensation;

  (12) recommended, by non-binding vote, "every three years" as
       the frequency of advisory votes on executive compensation;
       and

  (13) ratified the selection of Cherry Bekaert LLP as the
       Company's independent registered public accounting firm for
       the fiscal year ending Dec. 31, 2015.

                         About Cicero Inc.

Cary, N.C.-based Cicero, Inc., provides business integration
software solutions and also provides technical support, training
and consulting services as part of its commitment to providing
customers with industry-leading solutions.

The Company focuses on the customer experience management market
with emphasis on desktop integration and business process
automation with its Cicero XM(TM) products.  Cicero XM enables the
flow of data between different applications, regardless of the
type and source of the application, eliminating redundant entry
and costly mistakes.

The Company has extended the maturity dates of several debt
obligations that were due in 2011 to 2012, to assist with
liquidity and may attempt to extend these maturities again if
necessary.  Despite the recent additions of several new clients,
the Company continues to struggle to gain additional sources of
liquidity on terms that are acceptable to the Company.

Cicero reported a net loss applicable to common stockholders of
$4.05 million on $1.9 million of total operating revenue for the
year ended Dec. 31, 2014, compared to a net loss applicable to
common stockholders of $3.33 million on $2.19 million of total
operating revenue in 2013.

As of June 30, 2015, the Company had $2.1 million in total assets,
$9.3 million in total liabilities and a $7.2 million total
stockholders' deficit.

Cherry Bekaert LLP, in Raleigh, North Carolina, issued a "going
concern" in its report on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has suffered
recurring losses from operations and has a working capital
deficiency as of Dec. 31, 2014.  These conditions raise substantial
doubt about the Company's ability to continue as a going concern.


CITIZENS PARKWAY: Case Summary & 5 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Citizens Parkway Investments, LLC
        PO Box 870485
        Morrow, GA 30287

Case No.: 15-68023

Nature of Business: Real Estate

Chapter 11 Petition Date: September 18, 2015

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Debtor's Counsel: Joseph Chad Brannen, Esq.
                  THE BRANNEN FIRM, LLC
                  Suite G, 7147 Jonesboro Road
                  Morrow, GA 30260
                  Tel: (770) 474-0847
                  Fax: 770-474-6078
                  Email: chad@brannenlawfirm.com

Total Assets: $1.5 million

Total Liabilities: $686,034

The petition was signed by James Baker, manager.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/ganb15-68023.pdf


COLLAVINO CONSTRUCTION: Mediation Deadline Extended to Oct. 30
--------------------------------------------------------------
Judge Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York ordered the extension of the
mediation deadline to Oct. 30, 2015, in accordance with the
stipulation entered into by debtors Collavino Construction Company
Inc. and Collavino Construction Company Limited with the Port
Authority of New York and New Jersey, et. al. (collectively, the
"Port Authority Parties").

The original Mediation Deadline was 60 days from June 25, 2015, the
date of the Court's Mediation Order.

The Debtors and the Port Authority Parties have undergone initial
mediation sessions and have agreed that it would be beneficial to
extend the Mediation Deadline in order to afford the parties an
opportunity to continue their ongoing efforts to resolve various
issues outstanding between them through mediation.

The Port Authorities are represented by:

          C. Kevin Kobbe, Esq.
          Jamila Justine Willis, Esq.
          DLA PIPER LLP (US)
          1251 Avenue of the Americas, 27th Floor
          New York, NY 10020
          Telephone: (410)580-4189
          Facsimile: (410)580-3189
          E-mail: kevin.kobbe@dlapiper.com
                  jamila.willis@dlapiper.com

                   About Collavino Construction

Family-owned The Collavino Group owns entities that operate in
various sectors of the construction industry in the New York-New
Jersey metropolitan area, Canada, and the Detroit metropolitan
area. The Collavino Group performs contracts in both the public
and
private sectors as a general contractor, design-build consultant,
construction manager and prime subcontractor for cast-in-place and
precast concrete works.

CCCI sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
14-12908) on Oct. 17, 2014  CCCL sought Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 15-10344) on Feb. 18, 2015.

CCCL disclosed $88,418,514 in assets and $6,274,097 in liabilities
as of the Chapter 11 filing.

Judge Shelley C. Chapman presides over the cases.  The Court has
entered an order approving joint administration of the two cases.
The Debtors tapped Cullen and Dykman LLP as counsel, and Peckar &
Abramson, P.C., as special litigation counsel.



COLLAVINO CONSTRUCTION: Wants Until Nov. 30 to File Plan
--------------------------------------------------------
Collavino Construction Company Inc. and Collavino Construction
Company Limited ask the Bankruptcy Court to extend the exclusive
periods during which they may file a Chapter 11 Plan and solicit
acceptances thereof to Nov. 30, 2015 and Feb. 1, 2016,
respectively.

The Debtors tell the Court that they require an extension of the
Exclusive Periods to enable them to continue to mediate with the
Port Authority in an effort to resolve WTC Tower 1, LLC's Claim and
the Port Authority Claims before they will be in a position to
propose a chapter 11 plan of reorganization.

The Debtors' attorneys can be reached at:

          Nathan Dee, Esq.
          Elizabeth M. Aboulafia, Esq.
          CULLEN AND DYKMAN LLP
          100 Quentin Roosevelt Boulevard
          Garden City, NY 11530
          Telephone: (516)357-3817
          Facsimile: (516)357-3792
          E-mail: ndee@cullenanddykman.com
                  eaboulafia@cullenanddykman.com

                   About Collavino Construction

Family-owned The Collavino Group owns entities that operate in
various sectors of the construction industry in the New York-New
Jersey metropolitan area, Canada, and the Detroit metropolitan
area. The Collavino Group performs contracts in both the public
and
private sectors as a general contractor, design-build consultant,
construction manager and prime subcontractor for cast-in-place and
precast concrete works.

CCCI sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
14-12908) on Oct. 17, 2014  CCCL sought Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 15-10344) on Feb. 18, 2015.

CCCL disclosed $88,418,514 in assets and $6,274,097 in liabilities
as of the Chapter 11 filing.

Judge Shelley C. Chapman presides over the cases.  The Court has
entered an order approving joint administration of the two cases.
The Debtors tapped Cullen and Dykman LLP as counsel, and Peckar &
Abramson, P.C., as special litigation counsel.



COLLINS & AIKMAN: Consent Decree on Elmira Property Cleanup Granted
-------------------------------------------------------------------
Judge William B. Shubb of the United States District Court for the
Eastern District of California granted the motion filed by
plaintiffs California Department of Toxic Substances Control and
the Toxic Substances Control Account's for approval of a consent
decree relating to the cleanup of the property located at 147 A
Street, in Elmira, California.

An action was brought by DTSC under the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980 to recover
cleanup costs incurred at 147 A Street in Elmira, California from
the defendants Jim Dobbas, Inc., Continental Rail, Inc., Pacific
Wood Preserving Corporation, West Coast Wood Preserving, LLC,
Collins & Aikman Products, LLC, and Davin van Over.

DTSC contended that WCWP is a responsible party pursuant to section
107(a) of CERCLA, 42 U.S.C. Section 9607(a), and is therefore
jointly and severally liable for the costs DTSC incurred at the
Elmira site.  

WCWP and DTSC later informed the court that they had reached a
settlement.  The proposed Consent Decree was lodged by DTSC with
the court on June 2, 2015.  Among other terms, the proposed Consent
Decree provided that DTSC will release WCWP from liability in the
action in exchange for, among other things, payment of $350K.

Judge Shubb concluded that the proposed Consent Decree resulted
from a procedurally fair process and that the terms of the proposed
Consent Decree are substantively fair, reasonable, and consistent
with the CERCA's objectives.

The case is CALIFORNIA DEPARTMENT OF TOXIC SUBSTANCES CONTROL and
the TOXIC SUBSTANCES CONTROL ACCOUNT, Plaintiffs, v. JIM DOBBAS,
INC., a California corporation; CONTINENTAL RAIL, INC., a Delaware
corporation; DAVID VAN OVER, individually; PACIFIC WOOD PRESERVING,
a dissolved California corporation; and WEST COAST WOOD PRESERVING,
LLC, a Nevada limited liability company, Defendants, AND RELATED
COUNTERCLAIMS AND CROSS-CLAIMS, CIV. NO. 2:14-595 WBS EFB (E.D.
Cal.).

A full-text copy of Judge Shubb's August 24, 2015 memorandum and
order is available at http://is.gd/vTRGRrfrom Leagle.com.  

California Department of Toxic Substances Control and Toxic
Substances Control Account are represented by:

          Laura Zuckerman, Esq.
          STATE OF CALIFORNIA DEPARTMENT OF JUSTICE          

            -- and --

          Olivia W. Karlin, Esq.
          OFFICE OF THE ATTORNEY GENERAL, STATE OF CALIFORNIA

Jim Dobbas, Inc. is represented by:

          Jennifer Hartman King, Esq.
          Nicole R. Gleason, Esq.
          KING WILLIAMS & GLEASON LLP
          520 Capitol Mall, Suite 750
          Sacramento, CA 95814
          Tel: (916) 379-7530
          Fax: (916) 379-7535
          Email: jhartmanking@kwgattorneys.com
                 ngleason@kwgattorneys.com

West Coast Wood Preserving, LLC is represented by:

          Lester Owen Brown, Esq.
          PERKINS COIE LLP
          3150 Porter Drive
          Palo Alto, CA 94303-1212
          Tel: (650) 838-4300
          Fax: (650) 838-4350
          Email: lbrown@perkinscoie.com

                     About Collins & Aikman

Headquartered in Troy, Michigan, Collins & Aikman Corporation
-- http://www.collinsaikman.com/-- is a global leader in  
cockpit modules and automotive floor and acoustic systems and is
a leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems.  The Company
has a workforce of approximately 23,000 and a network of more
than 100 technical centers, sales offices and manufacturing
sites in 17 countries throughout the world.

The Company and its debtor-affiliates filed for chapter 11
protection on May 17, 2005 (Bankr. E.D. Mich. Case No. 05-55927).
Richard M. Cieri, Esq., at Kirkland & Ellis LLP, represents C&A in
its restructuring.  Lazard Freres & Co., LLC, provides the Debtor
with investment banking services.  Michael S. Stammer, Esq., at
Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors Committee.  When the Debtors filed
for protection from their creditors, they listed $3,196,700,000 in
total assets and US$2,856,600,000 in total debts.


CORINTHIAN COLLEGES: Seeks Cash Use Termination Date Extension
--------------------------------------------------------------
Corinthian Colleges, Inc., and its affiliated debtors ask the U.S.
Bankruptcy Court for the District of Delaware for the approval of
the stipulation extending the scheduled termination date to
Sept. 18, 2015, and permitting the Debtors to continue using cash
collateral in accordance with the terms of the Final Cash
Collateral Order and the budget.

On Aug. 28, 2015, the Court entered the Order Confirming Debtors'
Third Amended and Modified Combined Disclosure Statement, and
Chapter 11 Plan of Liquidation confirming the Combined Disclosure
Statement and Plan.  The Debtors anticipate that the Effective Date
will occur mid-September, if not sooner.

The Debtors relate that the Final Cash Collateral Order provides
that the Debtors are authorized to use Cash Collateral solely in
accordance with the Approved Budget and the terms of the Final Cash
Collateral Order during the period from the Petition Date until the
earliest of (i) three business days after service of written notice
by the Prepetition Secured Parties in accordance with the Final
Cash Collateral Order of the occurrence of an Event of Default;
(ii) 5:00 p.m. (prevailing Eastern time) on Aug. 7, 2015 (the
"Scheduled Termination Date"); (iii) the effective date of a
chapter 11 plan of liquidation in any of the Chapter 11 Cases; or
(iv) as otherwise ordered by the Court.

The Debtors further relate that he Final Cash Collateral Order
provides that the Final Approved Budget may be modified or
supplemented from time to time by additional budgets (covering any
time period covered by a prior budget or covering additional time
periods) prepared by the Debtors that are consented to by the
Administrative Agent with a copy provided to counsel to the
Creditors Committee and Counsel to the Students Committee, which
additional budgets shall constitute Supplemental Approved Budgets
and, together with the Initial Approved Budget and the Final
Approved Budget, shall collectively constitute the Approved Budget
as defined under the Final Cash Collateral Order.

The Debtors' attorneys can be reached at:

          Mark D. Collins, Esq.  
          Michael J. Merchant, Esq.
          Marisa A. Terranova, Esq.
          Amanda R. Steele, Esq.
          RICHARDS, LAYTON & FINGER, P.A.
          920 N. King Street
          Wilmington, DE 19801
          Telephone: (302)651-7700
          Facsimile: (302)651-7701
          E-mail: collins@rlf.com
                  merchant@rlf.com
                  terranova@rlf.com
                  steele@rlf.com

                    About Corinthian Colleges

Corinthian Colleges, Inc., Pegasus Education, Inc., and 23
affiliated entities filed voluntary Chapter 11 petitions (Bankr. D.
Del. Lead Case No. 15-10952) on May 4, 2015, to complete an orderly
wind down of its operations.  The cases are jointly administered
Case No. 15-10952.

Judge Kevin J. Carey presides over the case.  Richards, Layton &
Finger, P.A., represents the Debtors in their restructuring
efforts; FTI Consulting, Inc., serves as restructuring advisors;
and Rust Consulting/Omni Bankruptcy serves as claims and noticing
agent.

Corinthian Colleges, Inc., disclosed $721,596,789 in assets and
$2,929,448,278 in liabilities as of the Chapter 11 filing.

The U.S. Trustee for Region 3 appointed five creditors to serve on
the official committee of unsecured creditors.



CPI INTERNATIONAL: Moody's Retains 'B2' CFR on ASC Signal Deal
--------------------------------------------------------------
Moody's Investors Service said CPI International, Inc.'s B2
Corporate Family Rating remains unchanged following the company's
Sept. 17th announcement that it has acquired ASC Signal Corporation
("ASC", unrated) from former owners, Resilience Capital Partners.


CURTIS JAMES JACKSON: Robins Kaplan Named 50 Cent's Special Counsel
-------------------------------------------------------------------
Robins Kaplan LLP on Sept. 21 disclosed that it has been engaged as
special counsel for the debtor in the bankruptcy case commenced by
Grammy-winning artist Curtis J. Jackson III p/k/a "50 Cent" in the
United States Bankruptcy Court for the District of Connecticut
(Case No. 15-21233 (AMN)).

In July 2015, Mr. Jackson filed for Chapter 11 bankruptcy
protection following the confirmation and appeal of an
approximately $17.43 million arbitration award and judgment
obtained by Sleek Audio LLC and its affiliates against him in
Florida State Court and a partial jury verdict in a separate case
brought by Lastonia Leviston still pending in New York State
Supreme Court.

Robins Kaplan has been retained as special counsel to continue
pursuing the appeal of the Sleek Audio judgment in the Florida
District Court of Appeals, as well as pursuing potential
malpractice claims against Jackson's former litigation counsel in
the Sleek Audio arbitration.  Sleek Audio is by far Jackson's
largest creditor in the Chapter 11 bankruptcy with a scheduled
claim of $18 million.  The filing and successful prosecution of a
malpractice claim is a potential means of recovery for payment to
the creditors in the bankruptcy.

Robins Kaplan also has been retained as special counsel to pursue
an appeal in connection with the Leviston matter.  In July 2015, a
New York State Supreme Court jury awarded Ms. Leviston $2.5 million
in compensatory damages for a purported violation of New York's
Civil Rights Law and $2.5 million in compensatory damages for
purported intentional infliction of emotional distress, with
additional awards of $500,000 and $1.5 million for each claim,
respectively.  A post-trial motion by
Mr. Jackson's trial counsel to strike the claim for intentional
infliction of emotional distress as duplicative, to reduce the
jury's verdict as excessive, and for other relief, is scheduled for
oral argument on January 6, 2016.  Robins Kaplan and its national
appellate team stands ready to immediately and vigorously pursue an
appeal of any eventual judgment entered, regardless of the amount,
on multiple grounds.

"It must be noted that Curtis Jackson is legendary for overcoming
setbacks, beating the odds and surprising his detractors, and we
intend to assist him in doing just that in this matter," said Craig
Weiner, a partner at national trial firm Robins Kaplan.  "It is in
multiple parties' best interest to see Mr. Jackson win this
battle," adds Mr. Weiner.  "This appointment allows us to
vigorously protect and aggressively fight for Mr. Jackson's
interests, as well as those of his estate, his creditors, and other
parties involved."

Based in Robins Kaplan's New York office, Mr. Weiner has worked
closely with Mr. Jackson's general counsel and represented Mr.
Jackson's related entities on numerous matters.  Mr. Weiner also
represents high-net-worth individuals, domestic and foreign hedge
funds, private equity funds, venture companies, and government
funds in high-stakes commercial litigation matters, including
international arbitration.

In addition to Mr. Weiner, the Robins Kaplan team is comprised of
entertainment litigation partners Mark Passin and Paul LiCalsi; and
bankruptcy partners David Shemano and Howard Weg, Florida
litigation partner Michael Whitt, and partner Eric Magnuson (who
heads the firm's appellate practice nationwide).  Also on the team
are associates Katherine Barrett Wiik, Michael Kolcun, Sherli
Furst, Jennifer Leland, Lisa Beane, and Ofer Reger.

Robins Kaplan's restructuring group is a national leader in
representing debtors and creditors' committees, as well as other
constituents, including investors, lenders and indenture trustees,
in corporate restructuring and business bankruptcy cases.  The firm
currently represents the official committee of student creditors in
the Chapter 11 bankruptcy of Corinthian Colleges, Inc., one of the
nation's largest for-profit education companies. In July, the firm
was named counsel to the Official Committee of Unsecured Creditors
in the bankruptcy case commenced by Local Corp. in the Central
District of California, and was most recently named Chapter 11
restructuring counsel for four high-value hotel properties in
Manhattan that are affiliated with Gemini Real Estate Advisors.

Curtis James Jackson, III, aka 50 Cent, filed for Chapter 11
bankruptcy protection (Bankr. D. Conn. Case No. 15-21233) on July
13, 2015.

                  About Robins Kaplan LLP

Robins Kaplan LLP is a trial law firm with more than 220 lawyers
located in Atlanta; Bismarck, N.D.; Boston; Los Angeles;
Minneapolis; Mountain View, Calif.; New York; Naples, Fla.; and
Sioux Falls, S.D. The firm litigates, mediates, and arbitrates
high-stakes, complex disputes, repeatedly earning national
recognition.  Firm clients include -- as both plaintiffs and
defendants -- numerous Fortune 500 corporations, emerging-markets
companies, entrepreneurs, and individuals.




DIVERSE ENERGY: Wants to Hire Forshey & Prostok as Attorneys
------------------------------------------------------------
Diverse Energy Systems, Inc., and its debtor affiliates seek
permission from the Bankruptcy Court to employ Forshey & Prostok,
LLP as their bankruptcy counsel as of the Petition Date.

F&P will, among other things:

   (a) advise the Debtors of their rights, powers and duties as   

       debtors and debtors-in-possession continuing to operate and

       manage their business and assets;

   (b) advise the Debtors concerning, and assist in the
       negotiation and documentation of, agreements, debt
       restructurings, and related transactions;

   (c) review the nature and validity of liens asserted against
       the property of the Debtors and advise the Debtors
       concerning the enforceability of those liens;

   (d) advise the Debtors concerning the actions that they might
       take to collect and to recover property for the benefit of
       their estate;

   (e) prepare on bahalf of the Debtors all necessary
       applications, motions, pleadings, proposed orders, notices,

       schedules and other documents, and review all financial and

       other reports to be filed in the Chapter 11 cases;

   (f) advise the Debtors concerning, and prepare responses to,
       applications, motions, pleadings, notices and other papers
       that may be filed and served in the Chapter 11 case;

   (g) counsel the Debtors in connection with the formulation,
       negotiation and promulgation of one or more plans of
       reorganization and related documents; and

   (h) perform all other legal services.

Subject to the Court's approval, F&P will charge the Debtors for
its legal services on an hourly basis at these rates: $500 for
partners; $275 to $375 for associates or contract attorneys; and
$150 to $195 for paralegals.

The hourly rates of attorneys at F&P who will be primarily
responsible for the representation of the Debtors are:

       Robert J. Forshey                       $500
       Jeff Prostok                            $500
       Suzanne K. Rosen                        $375
       Clarke Rogers                           $275

In addition, F&P will seek reimbursement of expenses advanced on
behalf of the Debtors according to its customary and usual
practices.

F&P was retained by the Debtors prior to the Petition Date to
provide legal advice.  In connection with that engagement, F&P
obtained prepetition retainers from Diverse in the total amount of
$60,000.

Prior to the Petition Date, the Debtors became obligated to F&P for
legal services rendered and expense advanced in the aggregate
amount of $55,561.  The current unused balanced of the Pe-Petition
Retainers paid to F&P is $4,438.  This balance will be held by F&P
as a retainer to be applied towards attorney's fees and expenses
accrued post-petition as approved by the Court.

To the best of the Debtors' knowledge, F&P represents no interest
adverse to them or their estates in the matters for which F&P is
proposed to be retained and is a "disinterested person" as defined
in Section 101(14) of the Bankruptcy Code.

                       About Diverse Energy

Diverse Energy Systems, LLC, et al., filed Chapter 11 bankruptcy
petitions (Bankr. S.D. Tex. Lead Case No. 15-34736) on Sept. 7,
2015.  The jointly administered cases have been assigned to Judge
Karen K. Brown.

Diverse Energy has estimated assets of $10 million to $50 million
and liabilities of $0 to $50,000.

Forshey Prostok LLP serves as the Debtor's counsel.  SSG Advisors,
LLC serves as the Debtor's financial and restructuring advisor.

Diverse is the indirect parent of ITS Engineered Systems, Inc.  ITS
filed a voluntary petition for relief under Chapter 11 of the
Bankruptcy Code on April 17, 2015.  ITS's bankruptcy case is
currently pending in this Court as Case No. 15-32145.

Diverse is a provider of integrated solution platforms for upstream
and midstream customers in the natural gas production, oil
production, and water treatment industries.


DTS8 COFFEE: Incurs $78,800 Net Loss in First Quarter
-----------------------------------------------------
DTS8 Coffee Company, Ltd. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $78,829 on $99,051 of sales for the three months ended July 31,
2015, compared to a net loss of $233,789 on $88,063 of sales for
the same period during the prior year.

As of July 31, 2015, the Company had $177,127 in total assets,
$986,905 in total liabilities, all current, and a total
stockholders' deficit of $809,778.

                           Going Concern

"We have incurred material recurring losses from operations.  As of
July 31, 2015, we had an accumulated deficit, limited cash and
unprofitable operations.  These factors, among others, indicate
that we may be unable to continue as a going concern for a
reasonable period of time.  Our financial statements do not include
any adjustments relating to the recoverability and classification
of recorded asset amounts or the amounts and classification of
liabilities that may be necessary should we be unable to continue
as a going concern.  Our continuation as a going concern is
contingent upon our ability to obtain additional financing and to
generate revenue and cash flow to meet our obligations on a timely
basis.  Any failure to generate revenue and profits will raise
substantial doubt about our ability to continue as a going concern.
We plan to retain any cash we earn in order to develop our
business," the Company states in the report.

A full-text copy of the Form 10-Q is available for free at:

                       http://is.gd/K3R4Tm

                        About DTS8 Coffee

DTS8 Coffee Company, Ltd. (previously Berkeley Coffee & Tea, Inc.)
was incorporated in the State of Nevada on March 27, 2009.
Effective Jan. 22, 2013, the Company changed its name from
Berkeley Coffee & Tea, Inc., to DTS8 Coffee Company, Ltd.  On
April 30, 2012, the Company acquired 100 percent of the issued and
outstanding capital stock of DTS8 Holdings Co., Ltd., a
corporation organized and existing since June 2008 under the laws
of Hong Kong and which owns DTS8 Coffee (Shanghai) Co., Ltd.

DTS8 Holdings, through its subsidiary DTS8 Coffee, is a gourmet
coffee roasting company established in June 2008.  DTS8 Coffee's
office and roasting factory is located in Shanghai, China.  DTS8
Coffee is in the business of roasting, marketing and selling
gourmet roasted coffee to its customers in Shanghai, and other
parts of China.  It sells gourmet roasted coffee under the "DTS8
Coffee" label through distribution channels that reach consumers
at restaurants, multi-location coffee shops, and offices.

DTS8 Coffee reported a net loss of $3.8 million on $369,000 of
sales for the year ended April 30, 2015, compared to a net loss of
$2.3 million on $310,000 of sales for the year ended April 30,
2014.

MaloneBailey, LLP, Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the year
ended April 30, 2015, citing that the Company has suffered
recurring losses from operations, which raises substantial doubt
about its ability to continue as a going concern.


ENERGY FUTURE: Court Approves Disclosure Statement
--------------------------------------------------
At a hearing on Sept. 21, Judge Christopher Sontchi approved the
disclosure statement explaining Energy Future Holdings Corp., et
al.'s reorganization plan, allowing the Debtors to begin sending
solicitation packages to holders of claims and interests and
present the plan for confirmation at hearings starting on Nov. 3,
according to the attorneys of the Debtors.

At the day of the hearing, the Debtors submitted their Fifth
Amended Disclosure Statement and Fifth Amended Plan of
Reorganization, which are the solicitation versions of the plan
documents.  Black-lined copies of the documents are available for
free at:

     http://bankrupt.com/misc/Energy_F_5th_Am_Plan.pdf
     http://bankrupt.com/misc/Energy_F_5th_Am_DS.pdf

Prior to the objection deadline, the U.S. Trustee, the official
committee of unsecured creditors of EFH, The Bank of New York
Mellon, UMB Bank, Knife River Corporation-South, the Pension
Benefit Guaranty Corporation, Delaware Trust Company, the United
States of America on behalf of the Environmental Protection Agency,
Delaware Trust Company as Success Trustee Under the TCEH 11.5%
Senior Secured Notes Indenture, Shirley Fenicle as the
successor-in-interest to the Estate of George Fenicle and David
William Fahy ("the Asbestos Plaintiffs"), the EFIH Second Lien
Notes Indenture Trustee, and Texas Transmission Investment LLLC
filed formal responses in connection with the Motion and/or the
Disclosure Statement.  The Debtors filed an omnibus reply to the
objections on Sept. 16.

Attorney for the Debtors, Mark D. Collins, Esq., at Richards,
Layton & Finger, P.A., says that each of the formal responses,
other than the formal response by the Asbestos Plaintiffs, was
resolved prior to the commencement of the Sept. 21 hearing.

Mr. Collins adds that at the Sept. 21 hearing, the Bankruptcy Court
heard and considered the statements and arguments of, among others,
counsel to the Debtors, counsel to the Asbestos Plaintiffs, and
counsel to Fidelity Management & Research Company with respect to
the relief requested in the Disclosure Statement Motion and the
proposed approval of the Disclosure Statement.  According to Mr.
Collins, following the conclusion of argument, on the record of the
Sept. 21st hearing, the Bankruptcy Court (i) overruled the extant
formal response filed by the Asbestos Plaintiffs and the oral
objection raised by Fidelity, (ii) granted the Motion, and (iii)
approved the Disclosure Statement.

Following the hearing, the Debtors prepared a revised form of order
granting the Motion and approving the Disclosure Statement.  The
proposed order provides that the Debtors will distribution
solicitation packages by Sept. 25, 2015, and all holders of claims
and interests must submit their ballots on or before Oct. 23, 2015.
  Objections to confirmation of the Plan are due Oct. 23.  The
confirmation hearing is slated to begin Nov. 3, 2015, at 11:00
a.m.

The hearing to consider the adequacy of the Disclosure Statement
scheduled to be held on July 20, 2015, had been adjourned and
rescheduled at the request of the Debtors to Sept. 21.

                      The Reorganization Plan

The Debtors' Plan of Reorganization, as amended, contemplates a
tax-free spinoff of Texas Competitive Electric Holdings Company LLC
(TCEH), and an injection of approximately $7 billion of equity
capital and approximately $5 billion of debt to finance a tax-free
merger of reorganized EFH Corp., which new capital would fund the
payoff of E-side claims.  In addition to enjoying broad support
among T-side creditors, the Plan contemplates payment in full of
all allowed E-side claims.  In connection with consummation of the
merger, Oncor would be restructured to permit the surviving company
to convert to a REIT.  

Under the Plan, Energy Future's 80% stake in Oncor Electric
Delivery Company LLC is to be taken over by a consortium of
investors, including an affiliate of Hunt Consolidated Inc.,
Anchorage Capital Group, Arrowgrass Capital Partners, BlackRock,
Centerbridge Partners, the Blackstone Group's GSO Capital Partners
LP, Avenue Capital Group and the Teacher Retirement System of
Texas.

The Debtors have earlier sought and obtained approval of a Plan
Support Agreement.  The PSA is a key element of the comprehensive
settlement reached between the Debtors and the key TCEH creditors,
who are parties to the PSA.  The PSA may be terminated if the Plan
is not confirmed (at least orally) by Jan. 15, 2016.

On Aug. 10, 2015, the Debtors filed a motion to approve a
Settlement Agreement that includes a global settlement and release
of litigation claims.  The settlement removes the cloud of
potential litigation that has loomed over the Chapter 11 cases for
the past year and a half, and is a condition of confirmation of the
Plan.

                 About Energy Future Holding Corp.

Energy Future Holdings Corp., formerly known as TXU Corp., is A
privately held diversified energy holding company with a Portfolio
of competitive and regulated energy businesses in Texas.

Oncor, an 80 percent-owned entity within the EFH group, is the
Largest regulated transmission and distribution utility in Texas.

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

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

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

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

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

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

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

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


ENERGY FUTURE: Plan Confirmation Hearing to Start Nov. 3
--------------------------------------------------------
Energy Future Holdings Corp., at the end of August sought and
obtained from Judge Christopher S. Sontchi an order amending
certain hearing dates and deadlines in connection with the
confirmation of their Plan of Reorganization and approval of the
Debtors' settlement agreement with creditors at all levels of the
Texas Competitive Electric Holdings Company LLC capital structure,
and the TCEH Committee.

The order provides that these dates will govern the Settlement
Motion and confirmation of the Plan:

-- Fact Discovery

   a. The Participating Parties must identify no later than one day
after the entry of the Court's order approving the Amended
Confirmation Scheduling Order any previously served consolidated
discovery requests which are still applicable, and any fact
witnesses who may possess knowledge relevant to the Confirmation
Proceedings.

   b. Aug. 28 will be the date by which BONY may serve limited
supplemental discovery requests strictly confined to this issue:
differences in BONY's treatment under the Plan as compared to
BONY's treatment under the second amended plan.

   c. Sept. 1 will be the date on which depositions of fact
witnesses may begin.

   d. Sept. 10 will be the date on which Participating Parties will
have completed the production of all documents in response to the
Initial Consolidated Requests.

   e. Sept. 15 will be the deadline for service of deposition
notices.

   f. Sept. 17 will be the deadline by which Participating Parties
must file any motions to compel discovery responses and document
production.

   g. Oct. 2 will be the date on which all fact discovery will be
complete.

   h. Sept. 29 will be the date on which Participating Parties will
have provided logs of all documents responsive to the Initial
Consolidated Requests that were withheld on the basis of claim of
privilege.

-- Expert Discovery

   i. Oct. 5 will be the deadline by which Participating Parties
must designate expert witnesses, including a brief description of
general topics on which those witnesses will testify.

   j. Oct. 12 will be the date by which the Participating Parties
will engage in the simultaneous exchange of reports prepared by the
expert witnesses.

   k. Oct. 19 will be the date on which all expert discovery will
be complete.

-- Pretrial, Trial and Post-trial Events

   l. Oct. 9 will be the deadline by which Participating Parties
must serve a preliminary list of witnesses and exhibits they intend
to offer at the Confirmation Hearing.

   m. Oct. 9 will be the date and time on which counsel to the
Participating Parties will meet and confer regarding the initial
pretrial conference.

   n. Oct. 12 will be the deadline by which Participating Parties
seeking to admit a deposition transcript excerpt as evidence to the
Confirmation Hearing must serve a notice identifying the specific
excerpts to be offered.

   o. Oct. 13 will be the date and time of an initial pretrial
conference.

   p. Oct. 21 will be the deadline by which Participating Parties
must serve a final list of witnesses and exhibits they intend to
offer at the Confirmation Hearing.

   q. Oct. 21 will be the deadline by which any Participating
Parties objecting to a designation of a deposition transcript must
serve their objection and by which any Participating Parties
seeking to admit a deposition transcript excerpt as
counter-evidence at the Confirmation Hearing must serve a notice
identifying the specific excerpts to be offered.

  r. Oct. 23, 2015, will be the deadline by which any party,
including the Participating Parties, must file any objections to
the Settlement Motion or Plan.

  s. Oct. 23, 2015 will be the deadline by which Participating
Parties must serve objections to final witness and exhibit lists
and objections to deposition counter-designations.

  t. Oct. 23, 2015, will be the deadline by which Participating
Parties must file pretrial briefs and motions in limine and by
which Participating Parties must submit a proposed joint final
pretrial order per Local Bankruptcy Rule 7016-2(d)

   u. Oct. 23 will be the date by which the Participating Parties
must meet and confer with a view toward narrowing and resolving
their evidentiary disputes.

   v. Oct. 26 will be the date by which the Participating Parties
must file oppositions to any motions in limine.

   w. Oct. 28 at 11:00 a.m. will be the date and time of the final
pretrial conference.

   x. Oct. 30 will be the deadline by which the Debtors must file
their reply to all timely objections to the Settlement Motion or
the Plan.

   y. Tuesday, Nov. 3, 2015 at 11:00 a.m. will be the date and time
of the start of the Confirmation Hearing, which will include
consideration of the Settlement Motion.  The Confirmation Hearing
will continue from day to day, as the Court's schedule permits,
until completed; provided, however, the Confirmation Hearing may be
continued from time to time by the Court or the Debtors without
further notice other than by such adjournment being announced in
open court or by a notice of adjournment filed with the Court and
served on all parties entitled to notice.

For purposes of discovery related to the Confirmation Proceedings,
the Participating Parties shall include the United States Trustee
and the following parties' representatives that have agreed to be
bound by the Protective Order or are otherwise deemed to be party
to the Protective Order: (a) the Debtors; (b) the ad hoc group of
TCEH first lien lenders (the "TCEH First Lien Ad Hoc Group") and
the members thereof; (c) Wilmington Trust, N.A., as TCEH first
lien collateral agent and first lien administrative agent; (d)
those certain funds and accounts advised or sub-advised by Fidelity
Management & Research Company or its affiliates; (e) the ad hoc
group of EFH legacy noteholders; (f) Texas Energy Future Holdings
Limited Partnership, as EFH Corp.'s equity holder; (g) American
Stock Transfer & Trust Company, LLC, as indenture trustee for the
EFH notes; (h) Computershare Trust Company, N.A. and Computershare
Trust Company of Canada, as indenture trustee for the EFIH second
lien notes; (i) the ad hoc group of EFIH "PIK" noteholders; (j) UMB
Bank, as indenture trustee for the EFIH unsecured notes; (k) the
TCEH Creditors' Committee; (l) the EFH Creditors' Committee; (m)
Wilmington Savings Fund Society, FSB, as the indenture trustee for
the TCEH second lien notes, and the ad hoc consortium of TCEH
second lien noteholders; (n) the Ad Hoc Group of TCEH Unsecured
Noteholders; (o) Law Debenture Trust Company of New York, as the
indenture trustee for the TCEH unsecured notes; (p) Delaware Trust
Company (f/k/a CSC Trust Company of Delaware), as successor
indenture trustee for the 11.5% senior secured TCEH first lien
notes; and (q) Pacific Investment Co. LLC, as manager for certain
funds and accounts that hold EFIH DIP Loan Notes; (r) The Bank of
New York Mellon, in its capacity as the PCRB Trustee (as defined in
the Plan); and (s) The Bank of New York Mellon Trust Company, N.A.,
(collectively, with The Bank of New York Mellon, "BONY") in its
capacity as the EFCH 2037 Notes Trustee (as defined in the Plan).

A copy of the Revised Plan Scheduling Order is available for free
at:

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

                 Plan Hearing Three Months Earlier

The Debtors say that for more than a year and a half, they have
been hard at work to build consensus for a value-maximizing plan of
reorganization.  That hard work is generating positive results, as
the Debtors have filed a Third Amended Plan that satisfies two
critical conditions: (1) the Plan has the support of creditors from
all levels of the TCEH capital structure; and (2) the Plan provides
for payment in full in cash for all allowed claims against EFH and
EFIH.

The Debtors previously obtained approval of a scheduling order that
contemplates a confirmation hearing beginning in January 2016.  The
Debtors, however, now believe that waiting until January 2016 to
confirm a qualifying plan would be unnecessary and wasteful, and
that a qualifying plan can and should be heard quickly.  In order
to capitalize on the consensus that has been achieved in favor of
the Plan, the Debtors sought approval of a revised scheduling
order, which provides for the confirmation hearings to begin Oct.
28.  The Court's order entered Aug. 27 provides for a Nov. 3 start
of the confirmation hearings.

At the hearing on Aug. 25, the Court overruled all objections to
the Debtors' motion to revise hearing dates in connection with the
Plan.  Objections were filed by various parties, including the U.S.
Trustee, which said that the compressed discovery schedule sought
to be approved is extremely aggressive in light of the new
provisions in the Third Amended Joint Plan of Reorganization and
the newly-minted Settlement Agreement and Plan Support Agreement.
Other objectors included the EFH Committee, the EFH Indenture
Trustee, UMB Bank, and Alcoa, Inc.  The Debtors responded that
their proposed amended schedule is a critical element of the
carefully assembled consensus around the Plan and Settlement
Agreement.

                      The Reorganization Plan

The Debtors have filed their Third Amended Plan of Reorganization,
which contemplates a tax-free spinoff of Texas Competitive Electric
Holdings Company LLC (TCEH), and an injection of approximately $7
billion of equity capital and approximately $5 billion of debt to
finance a tax-free merger of reorganized EFH Corp., which new
capital would fund the payoff of E-side claims.  In connection with
consummation of the merger, Oncor would be restructured to permit
the surviving company to convert to a REIT.  

Under the Plan, Energy Future's 80% stake in Oncor Electric
Delivery Company LLC is to be taken over by a consortium of
investors, including an affiliate of Hunt Consolidated Inc.,
Anchorage Capital Group, Arrowgrass Capital Partners, BlackRock,
Centerbridge Partners, the Blackstone Group's GSO Capital Partners
LP, Avenue Capital Group and the Teacher Retirement System of
Texas.

On Aug. 10, 2015, the Debtors filed a motion to approve a Plan
Support Agreement.  The PSA is a key element of the comprehensive
settlement reached between the Debtors and the key TCEH creditors,
who are parties to the PSA.  Pursuant to the PSA, the PSA may be
terminated if the Plan is not confirmed (at least orally) by
Jan. 15, 2016.

On Aug. 10, 2015, the Debtors filed a motion to approve a
Settlement Agreement that includes a global settlement and release
of litigation claims.  The settlement removes the cloud of
potential litigation that has loomed over the Chapter 11 cases for
the past year and a half, and is a condition of confirmation of the
Plan.

A copy of the Third Amended Plan dated Aug. 10, 2015, is available
at http://is.gd/qEbbVt

A copy of the Disclosure Statement to the Third Amended Plan dated
Aug. 10, 2015, is available at http://is.gd/bcm5Qj

A black-lined version of the Disclosure Statement dated Aug. 10,
2015, is available at http://bankrupt.com/misc/EFHds0810.pdf

                 About Energy Future Holding Corp.

Energy Future Holdings Corp., formerly known as TXU Corp., is A
privately held diversified energy holding company with a Portfolio
of competitive and regulated energy businesses in Texas.

Oncor, an 80 percent-owned entity within the EFH group, is the
Largest regulated transmission and distribution utility in Texas.

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

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

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

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

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

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

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

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


ENERGY FUTURE: Plan Support Agreement Approved
----------------------------------------------
Judge Christopher S. Sontchi on Sept. 18, 2015, entered an order
authorizing Energy Future Holdings Corp., et al., to enter into a
Plan Support Agreement by and among (i) the Debtors, (ii) holders
of approximately 99.26% of the outstanding equity interests in EFH
and its direct and indirect equity holders; (iii) certain holders
of TCEH First Lien Claims, (iv) Wilmington Trust, N.A., as
successor administrative agent and collateral agent under the TCEH
Credit Agreement, (v) certain holders of TCEH Second Lien Note
Claims; (vi) certain holders of TCEH Unsecured Note Claims;(vii)
the statutory committee of unsecured creditors of the TCEH Debtors
and EFH Corporate Services appointed in the Chapter 11 cases; and
(viii) retain equity investors that are providing and/or
backstopping the equity financing in connection with the plan of
reorganization.

The Court's Sept. 18 order provides that any objections to the PSA
Motion not previously withdrawn, waived or settled, and all
reservation of rights included therein, are overruled with
prejudice.

Objections to the PSA were filed by The Bank of New York Mellon, in
its capacity as the PCRB Trustee, Trustee, and The Bank of New York
Mellon Trust Company, N.A., in its capacity as the EFCH 2037 Notes
Trustee; the official committee of unsecured creditors (the "EFH
Committee") of Energy Future Holdings Corporation; UMB Bank, N.A.;
and the Acting U.S. Trustee.  The U.S. Trustee had claimed that the
PSA Motion is an improper, postpetition solicitation of votes that
violates express provisions of the Bankruptcy Code.

A copy of the Court's order approving the Plan Support Agreement is
available for free at:

    http://bankrupt.com/misc/Energy_F_3rd_Am_Plan_PSA_Ord.pdf

In seeking approval of the PSA Motion, Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., explained that over the past
several months, the Debtors engaged in intensive negotiations with
TCEH creditors. These negotiations have now culminated in a
comprehensive agreement with creditors from all levels of the TCEH
capital structure that includes a consensual third amended plan of
reorganization, (the "Plan").  In addition to enjoying broad
support among T-side creditors, the Plan contemplates payment in
full of all allowed E-side claims.

A fundamental premise of the Plan is that TCEH will spin off from
EFH on a tax-free basis.  The spin-off avoids potentially material
deconsolidation taxes and facilitates the merger transaction while
still using the Debtors' net operating losses to deliver a
substantial "step-up" in the tax basis of TCEH's assets.  The Plan
also provides for an injection of approximately $7.1 billion of
equity capital and approximately $5.1 billion of debt to finance a
tax-free merger of reorganized EFH Corp. ("Reorganized EFH").  The
new capital would be used to pay off all allowed E-side claims in
full in cash. In connection with consummation of the merger, Oncor
would be restructured to permit the surviving company to convert to
a REIT.

Consummation and funding of the merger is subject to certain
conditions associated with, among other things, REIT-related
approvals and rulings, the satisfaction of which is not entirely
certain.  From the outset of Plan negotiations, the Debtors sought
to either substantially reduce this conditionality or develop an
alternative construct to mitigate it.  Ultimately, the parties
reached an agreement that effectively eliminates the most
significant downside of conditionality, namely, the risk that
failure to achieve the Plan's conditions will lead to a morass of
inter-Debtor and inter-creditor litigation.  This agreement is
embodied in a Settlement Agreement and in PSA that settles a broad
collection of litigation claims.  Under the Settlement Agreement
and PSA, if, despite the parties' efforts, the merger is not
consummated, the Debtors can focus on an alternative path to exit
the chapter 11 cases, free from the overhanging litigation that has
long plagued these cases.  The Debtors determined that in light of
these provisions, together with the opportunity for the repayment
in full in cash of all allowed claims against EFH Corp. and EFIH,
the conditionality associated with the merger is acceptable.

The Settlement Agreement and PSA are thus key elements of this
negotiated solution, Mr. Madron avers.

First, under the Settlement Agreement, each of the Settlement
Parties agrees to settle and release nearly all claims against: (a)
the Debtors, (b) the TCEH First Lien Creditors, and (c) the
Sponsors, and (d) the Debtors' directors and officers. Critically,
the Settlement Agreement will take effect, and most of the claims
will be released, immediately upon approval by the Court,
regardless of the success or failure of the transactions
contemplated by the Plan, thus preserving the peace negotiated by,
and avoiding litigation among, the Settlement Parties even if an
alternative restructuring must be pursued.

Second, the PSA requires the PSA Parties to support the Plan and to
refrain from acting in any way that would impede its success, while
also maintaining flexibility to pivot to an alternative
restructuring should the transactions contemplated by the Plan
prove unsuccessful.  Specifically, the PSA allows the PSA Parties,
subject to certain restrictions, to continue negotiations around
alternative restructuring structures, and generally requires the
TCEH unsecured creditors not to object or interfere with such an
alternative restructuring should the transactions contemplated by
the Plan fail to close, so long as the alternative restructuring
affords the TCEH creditors certain minimum treatment as set forth
in the Settlement Agreement.  The PSA also includes a robust
fiduciary out for the Debtors.

These agreements were the result of hard-fought negotiations and
should provide a clear path to plan confirmation in a matter of
months, eliminating the prospect of a costly and time-consuming
detour though complex and uncertain litigation.  The Settlement
Agreement and PSA are also a critical demonstration of support by
TCEH creditors for the proposed restructuring embodied in the
Plan.

According to Mr. Madron, if approved, upon effectiveness, the PSA
and Settlement Agreement together would:

   -- ensure the support of creditors holding more than half by
amount of TCEH first and second lien notes and two-thirds by amount
of TCEH unsecured notes for the Debtors' restructuring;

   -- transform some of the Debtors' largest dissenting creditors
into Plan supporters;

   -- guarantee resolution of contentious litigation;

   -- provide an opportunity for payment in full in cash of all EFH
and EFIH creditors; and

   -- preserve the optionality necessary for the Debtors to
maximize the value of their estates in the event of materially
changed circumstances.

                 About Energy Future Holding Corp.

Energy Future Holdings Corp., formerly known as TXU Corp., is A
privately held diversified energy holding company with a Portfolio
of competitive and regulated energy businesses in Texas.

Oncor, an 80 percent-owned entity within the EFH group, is the
Largest regulated transmission and distribution utility in Texas.

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

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

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

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

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

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

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

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


GLOBAL MARITIME: Seeks Joint Administration of Cases
----------------------------------------------------
GMI USA Management, Inc., Global Maritime Investments Holdings
Cyprus Limited, Global Maritime Investments Vessel Holdings Pte.
Limited, Global Maritime Investments Cyprus Limited, and Global
Maritime Investments Resources (Singapore) Pte. Limited ask the
Bankruptcy Court to issue an order directing joint administration
of their Chapter 11 cases under Case No. 15-12552.

The Debtors believe that they qualify for joint administration
because they are affiliates within the meaning of Section 101(2) of
the Bankruptcy Code.

According to the Debtors, joint administration of their cases is
warranted by the fact that (i) their financial affairs and business
operations are closely related and (ii) administrative and
operational expenses are shared by them.  In addition, the
supervision of the administrative aspects of their Chapter 11 cases
by the Office of the United States Trustee will be simplified, the
Debtors add.

The Debtors maintain that entry of an order directing joint
administration will obviate the need for duplicative notices,
applications and orders, and will thereby save considerable time
and expense and result in substantial savings to their respective
estates.

The Debtors assure the Court that the rights of their respective
creditors will not be adversely affected.  Each creditor may still
file a claim against a particular Debtor's estate.

                      About Global Maritime

GMI USA Management, Inc., et al., filed Chapter 11 bankruptcy
petitions (Bankr. S.D.N.Y. Case Nos. 15-12552 to 15-12556) on Sept.
15, 2015.  The petitions were signed by Justin Knowles, chief
restructuring officer.

The Debtors have estimated assets in the range of $1 million to $10
million and liabilities of at least $100 million.

Debtor GMI USA Management is a recently formed New York
corporation.  All of the other Debtors are foreign corporations
based in either Singapore or Cyrus.

Global Maritime Investments Holdings Cyprus Limited is a holding
company that owns 100% of the outstanding shares of each of (i)
Debtor GMI USA Management, Inc., (ii) Debtor Cyprus Tradeco, (iii)
Debtor Vessel Holdings, and (iv) non-Debtor GMI Panamax Pool
Limited.

Gardere Wynne Sewell, LLP, represents the Debtors as counsel.
AMA Capital Parnters serves as the Debtors' financial advisor.


GLOBAL MARITIME: Wants to Borrow $2-Mil. DIP Loan from Francolin
----------------------------------------------------------------
GMI USA Management, Inc., et al., seek authority from the
Bankruptcy Court to obtain postpetition financing in the form of a
credit facility of up to $2 million pursuant to a post-petition
financing agreement dated as of Sept. 15, 2015, with Francolin.

The Debtors tell the Court they need immediate access to up to
$450,000 of new postpetition advances under the DIP Facility.

According to the Debtors, the the DIP Financing provides them  with
an infusion of funds to (i) address their current liquidity needs,
(ii) make immediate payments to critical and foreign vendors to
minimize disruption to their international operations, and (iii)
provide them sufficient time to effectuate an orderly wind-down of
their business.

"Without the proposed DIP Facility, the Debtors do not have
sufficient cash or other available sources of working capital and
financing to enact an orderly wind-down," says John P. Melko, Esq.
at Gardere Wynne Sewell LLP, attorney to the Debtor.

The Loan has a non default interest rate of 8% per annum.

Default interest rate is a rate per annum which is equal to the sum
of (i) 8% per annum Agreement plus (ii) 2% per annum until amounts
then payable under the DIP Loan Documents are paid in full or such
Event of Default has been cured or waived in writing by the DIP
Lender.

The scheduled maturity date is the earliest of (a) Feb. 1, 2016,
(b) the date on which payment of the obligations is accelerated by
the DIP Lender as provided in the DIP Credit Agreement, (c) the
effective date of a Plan, and (d) 30 days after the Petition Date,
in the event that a final order shall not have been entered on or
before that date.

The Debtors have no known secured debt, and under the DIP Facility,
the DIP Lender receives senior priority liens only on unencumbered
assets of the Debtors.  To the extent that any of the Debtors'
assets are subject to a perfected security interest, Francolin has
agreed to accept a junior lien and does not seek to prime such
prior perfected security interest holders, if any.

The Debtors foresee that the proposed DIP Facility will be
sufficient to satisfy all administrative expense obligations that
they reasonably expect to incur during the pendency of their
Chapter 11 cases.

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

            http://bankrupt.com/misc/5_GMI_Financing.pdf

                       About Global Maritime

GMI USA Management, Inc., et al., filed Chapter 11 bankruptcy
petitions (Bankr. S.D.N.Y. Case Nos. 15-12552 to 15-12556) on Sept.
15, 2015.  The petitions were signed by Justin Knowles, chief
restructuring officer.

The Debtors have estimated assets in the range of $1 million to $10
million and liabilities of at least $100 million.

Debtor GMI USA Management is a recently formed New York
corporation.  All of the other Debtors are foreign corporations
based in either Singapore or Cyrus.

Global Maritime Investments Holdings Cyprus Limited is a holding
company that owns 100% of the outstanding shares of each of (i)
Debtor GMI USA Management, Inc., (ii) Debtor Cyprus Tradeco, (iii)
Debtor Vessel Holdings, and (iv) non-Debtor GMI Panamax Pool
Limited.

Gardere Wynne Sewell, LLP, represents the Debtors as counsel.
AMA Capital Parnters serves as the Debtors' financial advisor.


GRAHAM GULF: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Graham Gulf, Inc.
        6590 Half Mile Road
        Irvington, AL 36544

Case No.: 15-03065

Type of Business: Maritime

Chapter 11 Petition Date: September 18, 2015

Court: United States Bankruptcy Court
       Southern District of Alabama (Mobile)

Debtor's Counsel: Jeffery J. Hartley, Esq.
                  HELMSING, LEACH, HERLONG, NEWMAN & ROUSE PC
                  P.O. Box 2767
                  Mobile, AL 36652-2767
                  Tel: (251)432-5521
                  Email: jjh@helmsinglaw.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Janson Graham, president.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Advanced Logistics, LLC              Trade Debt         $22,962

American Express/Payment             Trade Debt         $33,186

American Supply, LLC                 Trade Debt         $24,649

Blue Cross Blue Shield               Trade Debt         $60,409

BNA Marine Services                  Trade Debt         $83,990

C-Port/Stone, LLC                    Trade Debt         $73,366

Cummins Mid-South LLC                Trade Debt         $92,031

Force Power Systems                  Trade Debt        $113,259

Graham Holding, Inc.                 Trade Debt         $35,295

Kevin Gros Consulting & Marine       Trade Debt        $386,780
P.O. Box 706
Golden Meadow, LA 70357

Kongsberg Maritime, Inc.             Trade Debt         $23,951

Martin Energy Services LLC           Trade Debt         $23,933

Pro Diesel                           Trade Debt        $112,504

R.S.I. Group, Inc.                   Trade Debt         $21,943

Safcon Controls, Inc.                Trade Debt         $27,291

Superior Shipyard                    Trade Debt        $156,227

Thompson Tractor Co., Inc.           Trade Debt         $48,348

Thrustmaster of Texas, Inc.          Trade Debt        $109,892

Tide Marine Supply Co.               Trade Debt         $43,633

United Power Systems                 Trade Debt        $425,539
2972 Highway 182
Raceland, LA 70394


GRAHAM GULF: Files for Chapter 11 Bankruptcy to Reorganize
----------------------------------------------------------
Graham Gulf, Inc., a privately held maritime company supporting the
oil, gas and shipping industries, sought Chapter 11 bankruptcy
protection in the U.S. Bankruptcy Court Southern District of
Alabama on Sept. 18, 2015.

According to court-filed documents, Graham Gulf's utilization
levels, and, in turn, liquidity suffered as a result of continuing
decline of worldwide oil prices and the overall stagnation of the
global economy.

As of the Petition Date, the Debtor has funded debt outstanding of
approximately $21,993,110, consisting of the principal balance
under a Credit Agreement dated as of March 13, 2014, with Wells
Fargo Bank, National Association, as administrative agent.

As a result of the decline in earnings, the Debtor said it has been
unable to comply with the financial covenants contained in the
Pre-Petition Credit Agreement.  The Debtor also said it attempted
to refinance the Pre-Petition Credit Agreement in order to provide
the liquidity necessary to continue its business operations,
however, the ensuing uncertainty regarding future oil prices
prevented it from achieving an out-of-court refinancing.

The Company intends to file a plan of reorganization and expects to
emerge from Chapter 11 as a stable enterprise, with a profitable
future.

"When oil prices improve Graham Gulf can once again enjoy healthy
margins and steady cash flow," says Keith Hayles, chief executive
office of Graham.

Concurrently with the filing of the Chapter 11 case, the Debtor is
seeking first day pleadings in order to help keep the Company
operating effectively, minimize potential adverse effect of the
bankruptcy filing, and ease administrative burden of operating in
Chapter 11.  The Debtor is asking permission to, among other
things, pay prepetition taxes, maintain insurance policies, pay
employee compensation, pay prepetition claims of critical vendors,
continue using existing cash management system.  The Debtor is also
seeking Court order prohibiting utility providers from
discontinuing services to it.

Graham Gulf has obtained commitment, subject to Court approval, of
$1 million secured postpetition from Janson Graham to be used for
working capital needs and other fees and costs related to the
Chapter 11.

A copy of the declaration is support of the First Day Motions is
available for free at:

        http://bankrupt.com/misc/10_GRAHAM_Declaration.pdf

Graham Gulf, Inc. filed Chapter 11 bankruptcy petition (Bankr. S.D.
Ala. Case No. 15-03065) on Sept. 18, 2015.  The petition was signed
by Janson Graham as president.  The Debtor estimated assets and
liabilities in the range of $10 million to $50 million.  Helmsing,
Leach, Herlong, Newman & Rouse PC serves as the Debtor's counsel.

Founded in 1996, the Company operates 11 Fast Supply Vessels
designed specifically for providing a more efficient and
cost-effective support for field production operations and remote
drilling location services.



GREGG LUBONTY: U.S. Bank's Bid to Dismiss Suit Granted
------------------------------------------------------
Judge Joseph Farneti of the Supreme Court, Suffolk County, in a
decision dated Aug. 17, 2015, granted defendant U.S. Bank National
Association, as Indenture Trustee for American Home Mortgage
Investment Trust 2005-4A, and American Home Mortgage Investment
Trust 2005-4A's motion for dismissal of debtor Gregg Lubonty's
complaint.

The case is GREGG LUBONTY, Plaintiff, v. U.S. BANK NATIONAL
ASSOCIATION, as Indenture Trustee for American Home Mortgage
Investment Trust 2005-4A, Defendant, DOCKET NO. 14-21853, MOT. SEQ.
# 001-MG; CASEDISP (N.Y. Sup.).  A full-text copy of Judge
Farneti's Decision is available at http://tinyurl.com/ppkezjgfrom
Leagle.com.



GUIDED THERAPEUTICS: Stockholders OK Increase of Authorized Shares
------------------------------------------------------------------
Guided Therapeutics, Inc., held a special meeting of stockholders
on Sept. 15, 2015, at which the stockholders approved an amendment
to the Company's Certificate of Incorporation to increase the
number of authorized shares of its common stock to a total of
500,000,000 shares.  A copy of the regulatory filing is available
for free at http://is.gd/J8tYjK

                     About Guided Therapeutics

Guided Therapeutics, Inc. (OTC BB and OTC QB: GTHP)
-- http://www.guidedinc.com/-- is developing a rapid and painless
test for the early detection of disease that leads to cervical
cancer.  The technology is designed to provide an objective result
at the point of care, thereby improving the management of cervical
disease.  Unlike Pap and HPV tests, the device does not require a
painful tissue sample and results are known immediately.  GT has
also entered into a partnership with Konica Minolta Opto to
develop a non-invasive test for Barrett's Esophagus using the
LightTouch technology platform.

For the year ended Dec. 31, 2014, the Company reported a net loss
attributable to common stockholders of $10.03 million on $65,000 of
contract and grant revenue compared to a net loss attributable to
common stockholders of $10.39 million on $820,000 of contract and
grant revenue in 2013.

As of June 30, 2015, the Company had $4 million in total assets,
$6.7 million in total liabilities and a stockholders' deficit of
$2.7 million.


HAGGEN HOLDINGS: Sept. 21 Meeting Set to Form Creditors' Panel
--------------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, was to hold
an organizational meeting on September 21, 2015, at 10:00 a.m. in
the bankruptcy case of Haggen Holdings, LLC, et al.

The meeting was to be held at:

         The DoubleTree Hotel
         700 King St.
          Wilmington, DE 19801

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.



HAVERHILL CHEMICALS: ALTIVIA Expects Sale Closing in October
------------------------------------------------------------
ALTIVIA Petrochemicals on Sept. 21 disclosed that it has signed a
definitive agreement to acquire all of Haverhill Chemicals' assets
for their Phenol, Acetone, Alpha-Methylstyrene (AMS) and
BisPhenol-A (BPA) businesses.  The facilities are located on the
banks of the Ohio River in Haverhill, Ohio, formerly operated by
Sunoco.  Haverhill Chemicals filed for relief under Chapter 11 of
the U.S. Bankruptcy Code on September 19.  Closing of this
transaction, which is subject to approval by the Bankruptcy Court,
is expected in October.  

The chemicals produced at the Haverhill facilities are
intermediates utilized in the production of phenolic resins,
epoxies, polycarbonates, paints and coatings, pharmaceuticals,
acrylics, and heat resistant polymers.

According to ALTIVIA, entering this business will provide the
company opportunities to participate in commodity products
controlled by global players.  The business' location provides a
geographical advantage to the supply chain of its robust customer
base.

                          About ALTIVIA

Headquartered in Houston, Texas, privately held ALTIVIA was founded
in 1986 and today is the largest merchant producer of Phosgene
derivative intermediates in the Americas.  ALTIVIA is also a
producer of iron-based salts serving municipal and industrial
customers with a broad range of chemical solutions, including
products formulated for specific water treatment applications.  
ALTIVIA sold its water treatment commodity chemicals business to
Brenntag A.G. in December 2012 and in
April 2015 acquired the Specialty Phosgene Derivatives business'
assets from Axiall Corporation.  The transaction included Axiall's
chemical production facilities located in La Porte, Texas.  The
plant is the largest North American production facility of merchant
phosgene derivatives, including chloroformates and acid chlorides,
serving pharmaceutical, organic peroxide and agricultural markets.

                   About Haverhill Chemicals

Haverhill Chemicals LLC began operating the former Sunoco Inc. site
in Haverhill, Ohio on November 1, 2011.  The Company produces
sphenol, acetone, bisphenol A and alpha methylstyrene at the 600+
acre site with a workforce of approximately 160 employees.  The
Company's sales, customer service, logistic, finance & accounting,
IT and human resources are located at their headquarters in
Houston, Texas.

Haverhill Chemicals filed a Chapter 11 bankruptcy petition (Bankr.
S.D. Tex. Case No. 15-34918) on Sept. 18, 2015.  The petition was
signed by Paul Deputy, the chief financial officer.  The case is
assigned to Judge Marvin Isgur.

The Debtor estimated assets of $1 million to $10 million and
liabilities of $100 million to $500 million.  

Diamond McCarthy LLP serves as the Debtor's counsel.



HAVERHILL CHEMICALS: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Haverhill Chemicals LLC
        4450 Gears Rd, Suite 510
        Houston, TX 77406

Case No.: 15-34918

Type of Business: Manufactures chemicals

Chapter 11 Petition Date: September 18, 2015

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Hon. Marvin Isgur

Debtor's Counsel: Kyung Shik Lee, Esq.
                  DIAMOND MCCARTHY LLP
                  909 Fannin, Ste 1500
                  Houston, TX 77010
                  Tel: 713-333-5125
                  Fax: 713-333-5195
                  Email: klee@diamondmccarthy.com

                    - and -

                  Charles M. Rubio, Esq.
                  DIAMOND MCCARTHY, LLP
                  909 Fannin Street, Suite 1500
                  Houston, TX 77010
                  Tel: 713-333-5127
                  Fax: 713-333-5195
                  Email: crubio@diamondmccarthy.com

                     - and -

                   Jason M Rudd, Esq.
                   DIAMOND MCCARTHY LLP
                   909 Fannin, Ste 1500
                   Houston, TX 77010
                   Tel: 713-333-5100
                   Email: jrudd@diamondmccarthy.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $100 million to $500 million

The petition was signed by Paul Deputy, chief financial officer.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Marathon Petroleum Company LP          Trade          $23,771,791
Attention: Sawyer Goldsberry
539 S. Main St.
Findlay, OH 45840
Tel: (419) 421-3844

CB&I Stone & Webster Const Inc.        Trade           $2,298,188
Attention: Ali Acklin
4171 Esen Lane
Baton Rouge, LA 70809
Tel: (225) 987-3809

SunCoke Energy Inc.                    Trade             $571,898
Attention: RS Justus
1011 Warrenville Road, Suite 600
Lisle, IL 60532
Tel: (606) 824-1001

Norfolk Southern Corporation           Trade             $755,820
Mrs. L. G. Ferris
110 Franklin Road, S. E.
Roanoke, VA 24042-0041
Tel: (540) 524-4198

Nitro Electric                         Trade             $179,509
Attn: Jerry Priddy
4300 First Avenue 2nd Floor
Nitro, WV 25143
Tel: (304) 204-1500

Veolia ES Industrial Services, Inc.    Trade             $175,077
806 Hoods Creek Pike
Ashland, KY 41101
Tel: (606) 329-1306

W.T. Bryan & Associates Inc.           Trade             $124,080
Attention: Chris Bryan
11275 Sebring Drive
Cincinnati, OH 45240
Tel: (513) 522-8532

FCX Performance                          Trade            $99,313
Attention: Kathleen Dodge
3000 East 14th Avenue
Columbus, OH 43219
Tel: (800) 253-6223

Mersen USA                               Trade            $85,675
Attention: Lois Moseley
540 Branch Drive
Salem, VA 24153
Tel: (540) 389-7535

Flowserve Corporation                    Trade            $73,640
Attention: Allen Wierbach
1050 Roxalana Business Park #2
Dunbar, WV 25064
Tel: (304) 768-0220

Union Tank Car Co.                       Trade            $73,376
P.O. Box 91793
Chicago, IL 60693
Tel: (219) 392-1500

Pritchard Electric Co.                   Trade            $73,280
2425 Eighth Avenue
Huntington WV 25703
Tel: (304) 529-2566

Geredco Ltd.                             Trade            $71,353
Attention: Angie McDonald
1480 Enterprise Parkway
Twinburg, OH 44087
Tel: (330) 405-4460

Covenant Security Services               Trade            $66,172
Attention: Jerry Park
400 Quadrangle Drive, Suite A
Bolingbrook, IL 60440
Tel: (630) 771-0800

McJunkin Red Man Corp.                   Trade            $64,044

Liquid Transport LLC                     Trade            $64,000

Quality Carriers Inc.                    Trade            $60,285

Nitro Mechanical Services                Trade            $58,515

Mistras Services Group                   Trade            $54,276

Middough Associates Inc.                 Trade            $47,516


HAVERHILL CHEMICALS: In Chap. 11 to Sell Plant to ALTIVIA for $3M
-----------------------------------------------------------------
Chemical producer Haverhill Chemicals LLC sought Chapter 11
bankruptcy petition on Sept. 18 with an intention to sell its
chemical plant located in Haverhill, Ohio, to ALTIVIA
Petrochemicals, LLC, for $3 million, subject to higher or better
bids.

The filing was made amid Haverhill's failure to pay approximately
$44.1 million owed to Bank of America, N.A., as administrative
agent under a credit agreement dated as of Oct. 31, 2011.  The
Lenders accelerated and demanded immediate payment of all
indebtedness and amounts due on the Credit Facility on June 2,
2015, after the Company defaulted under the Credit Facility.
Following continued negotiations, the Debtor and the Lenders
entered into a forbearance agreement, as amended, which agreement
expired on Sept. 18.

The Debtor took over operations of the Haverhill Plant in late 2011
from Sunoco, Inc. "with plans to implement technology and
efficiency improvements while positioning itself to profit from
forecasted greater chemical product demand as the post-recession
economy improved."  However, the Debtor said, huge capital costs
associated with the Plant and the petroleum market's dramatic drop
hindered its ability to realize efficiency and cost benefits.

In an effort to solve the financial difficulties facing the Debtor
in 2014 and early 2015, the Debtor explored various opportunities
for restructuring its business and operations.  The Debtor
attempted to refinance the Credit Facility with alternative lending
sources.  However, continued adverse petroleum market conditions
and depressed asset values discouraged other
lenders from extending credit.

In light of its current financial condition, the Debtor determined
that the maximum value will be realized for creditors through a
sale of its assets and operations pursuant to Section 363 of the
Bankruptcy Code.

The Haverhill Plant is currently idle while the Debtor located a
purchaser for the Plant.  In order to further reduce the costs
associated with idling the Haverhill Plant, the Debtor reduced its
workforce to 53 employees and one independent contractor, from 173
employees.

The Debtor engaged Balmoral Advisors, LLC, as its investment banker
to explore a sale of the Haverhill Plant.

On Sept. 18, 2015, ALTIVIA and the Debtor executed an Asset
Purchase Agreement.  Pursuant to the Purchase Agreement and as a
condition to the continued effectiveness of the Purchase Agreement,
the Debtor agreed to seek entry of an order providing ALTIVIA with
certain break-up protections, including a break-up fee in the
amount of $150,000 and expense reimbursement in the maximum amount
of $250,000.

The Debtor owed approximately $50 million to general unsecured
creditors and approximately $8 million to the Gorvest LP.

Contemporaneously with bankruptcy petition, the Debtor filed
various emergency first day motions which it believes are necessary
to effectively protect the value of its assets until completion of
the Sale.  The Debtor is seeking, among other things, authority
to:

   -- pay employee obligations;

   -- use cash collateral;

   -- maintain DIP Accounts with Bank of America, N.A.; and

   -- prohibit utility providers from discontinuing services.

A copy of the declaration in support of the First Day Motions is
available for free at:

       http://bankrupt.com/misc/16_HAVERHILL_Declaration.pdf

                     About Haverhill Chemicals

Haverhill Chemicals LLC filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Tex. Case No. 15-34918) on Sept. 18, 2015.
The petition was signed by Paul Deputy as chief financial officer.
The Debtor estimated assets of $1 million to $10 million and
liabilities of $100 million to $500 million.  Diamond McCarthy LLP
serves as the Debtor's counsel.  The case is assigned to Judge
Marvin Isgur.

The Debtor owns and operated the Haverhill Plant to produce
Phenol, Acetone, Bisphenol A (BPA) and Alpha-Methylstyrene ("AMS")
for sale to its customers.  The chemicals are used to manufacture a
wide variety of chemical
intermediates, including phenolic resins, paint, varnishes,
pharmaceuticals, film, epoxy resins, flame retardants, coatings
and
heat resistance of polystyrene.



HII TECHNOLOGIES: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                  Case No.
      ------                                  --------
      HII Technologies, Inc.                  15-60070
         fka Shumate Industries, Inc.
         fka Hemiwedge Industries, Inc.
      8588 Katy Freeway Ste 430  
      Houston, TX 77024

      Apache Energy Services, LLC             15-60069
         dba AES Water Solutions
         dba AES Safety Services
      793 Charco Street
      Goliad, TX 77963

      Aqua Handling of Texas, LLC             15-60071
         dba AquaTex
      1551 Damron Street
      Beeville, TX 78102

      Hamilton Investment Group, Inc.         15-60072
         dba Hamilton Water Transfer
      210 N Buffalo Ave
      Guthrie, OK 73044

      Sage Power Solutions, Inc.              15-60073
         fka KMHVC, Inc.
         dba South Texas Power
         dba STP
      1551 Damron Street
      Beeville, TX 78102

Type of Business: Oilfield services company

Chapter 11 Petition Date: September 18, 2015

Court: United States Bankruptcy Court
       Southern District of Texas (Victoria)

Judge: Hon. David R Jones

Debtors' Counsel: Christopher Donald Johnson, Esq.
                  MCKOOL SMITH P.C.
                  600 Travis St., Suite 7000
                  Houston, TX 77002
                  Tel: 713-485-7315
                  Fax: 713-485-7344
                  Email: cjohnson@mckoolsmith.com

                    - and -

                  Hugh Massey Ray, III, Esq.
                  MCKOOL SMITH P.C.
                  600 Travis, Suite 7000
                  Houston, TX 77002
                  Tel: 713-485-7300
                  Fax: 713-485-7344
                  Email: hmray@mckoolsmith.com

                                        Estimated   Estimated
                                         Assets     Liabilities
                                       ----------   -----------
Apache Energy Services, LLC            $1MM-$10MM   $10MM-$50MM
HII Technologies, Inc.                  $17.56MM     $26.54MM
Aqua Handling of Texas, LLC            $1MM-$10MM   $10MM-$50MM
Hamilton Investment Group              $1MM-$10MM   $10MM-$50MM
Sage Power Solutions, Inc.             $1MM-$10MM   $10MM-$50MM

The petition was signed by Loretta R. Cross, chief restructuring
officer.

A. List of Apache Energy Services, LLC's 20 Largest Unsecured   
   Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Black Gold Energy, LLC               Trade Debt         $55,860

Bold Production Services             Trade Debt        $253,939
10880 Alcott Drive
Houston, TX 77043

Eagle Propane & Fuels                Trade Debt         $49,586

Enterprise FM Trust                  Trade Debt        $182,555

Fischer Bush Equipment Rentals       Trade Debt         $82,737

Gator Testing Services               Trade Debt         $43,120

Hertz Equipment Rental               Trade Debt        $157,044
Service Pump and
Compressor Division

Howard Supply Company                Trade Debt         $85,602

Hydro-Flo Dynamics, LLC              Trade Debt         $44,500

LHB Energy Consultants, LLC          Trade Debt        $130,848

Nitro-Lift Technologies, LLC         Trade Debt        $162,745

Odessa Pump & Equipment              Trade Debt         $64,030

OTG Services LLC                     Trade Debt         $35,000

Production Equipment Sales & Service Trade Debt         $63,950

Spraberry Production Services        Trade Debt         $44,479

Sunbelt Rentals Oil & Gas Services   Trade Debt        $158,931

Texas State Comptroller                                $267,291
Comptroller of Public Accounts
PO Box 149359
Austin, TX 78711-4935

Titan Test Pumps                     Trade Debt        $134,354

TSI Flow Products                    Trade Debt         $38,246

Universal Premium Fleet Card         Trade Debt         $34,352

B. List of HII Technologies, Inc.'s 20 Largest Unsecured
   Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
American Registrar & Transfer Co     Trade Claim         $6,931

Broadridge ICS                       Trade Claim        $23,101

Chickering, Ken                                          $5,000

Chickering, Ken                         Note           $183,000

Enterprise FM Trust                  Trade Debt         $12,496
Enterprise Fleet

Management

ERGOS Technology                     Trade Debt          $6,992

Ham, Langston & Brezina, LLP         Trade Debt         $10,000

Hilco Valuation Services, LLC        Trade Debt         $25,527

Indeglia & Carney LLP                Trade Debt         $60,654

Jackson Walker, LLP                  Trade Debt         $29,838

L.L. Bradford                        Trade Debt         $23,760

Malone & Bailey, LLP                 Trade Debt         $18,500

MZHCI, LLC                           Trade Debt         $50,049

P3 Data Systems, Inc.                Trade Debt          $5,055

PMB Helin Donovan                    Trade Debt          $7,400

Source Capital Group, Inc.           Trade Debt         $25,000

Strasburger & Price, LLP             Trade Debt         $38,031

Sutherland Asbill & Brennan LLP      Trade Debt         $97,249

Weaver and Tidwell, LLP              Trade Debt         $25,000

Womack, Leo                         Board Service        $5,000


HORNBECK OFFSHORE: Moody's Lowers CFR to B2, Outlook Negative
-------------------------------------------------------------
Moody's Investors Service downgraded Hornbeck Offshore Services,
Inc.'s Corporate Family Rating to B2 from Ba3, Probability of
Default Rating (PDR) to B2-PD from Ba3-PD, and senior unsecured
notes to B2 from Ba3.  The rating outlook was changed to negative
from stable.  A Speculative Grade Liquidity (SGL) Rating of SGL-2
was assigned.

"Hornbeck benefits from the scale and quality of its fleet, and
good liquidity, but its credit metrics will continue to be
negatively impacted by the very challenging environment facing the
offshore sector through 2017" said Sreedhar Kona, Moody's Senior
Analyst.  "The negative outlook reflects our expectation of
continued deterioration in the utilization of offshore supply
vessels and their day rates."

Downgrades:

Issuer: Hornbeck Offshore Services Inc.

  Corporate Family Rating, Downgraded to B2 from Ba3
  Probability of Default Rating, Downgraded to B2-PD from Ba3-PD
  Senior Unsecured Notes, Downgraded to B2 (LGD4) from Ba3 (LGD4)

Assigned:

Issuer: Hornbeck Offshore Services Inc.

  Speculative Grade Liquidity (SGL) Rating of SGL-2

Outlook Actions:

Issuer: Hornbeck Offshore Services Inc.

  Outlook, Changed to Negative from Stable

RATINGS RATIONALE

The downgrade of Hornbeck's CFR to B2 from Ba3 is primarily driven
by Moody's view that there are no immediate signs of a commodity
price recovery or a meaningful increase in 2016 upstream capital
budgets.  Moody's expects a continued and further deterioration of
day rates and utilization for the offshore supply vessels at least
through mid-2016.  Hornbeck will experience a significant impact on
its 2016 EBITDA resulting in a debt to EBITDA ratio (per Moody's
calculations) above 10x by year end 2016 from above 5x as of June
30, 2015.  The company's ratings benefit from its high-quality
fleet that includes higher valued multi-purpose support vessels
(MPSVs), a larger asset base than its peers and a good market
position, however they are constrained by the concentration in the
Gulf of Mexico.

Hornbeck's senior unsecured notes (5.875% of $375 million notes due
2020 and 5% of $450 million notes due 2021) are rated B2, the same
as the CFR.  The senior unsecured notes are subordinated to the
$300 million senior secured revolving credit facility due 2020 and
the secured revolver's priority claims to certain of the company's
assets.  However, given the significant collateral value in its
vessels relative to the modest size and no anticipated utilization
of its revolving credit facility, and the larger quantum of the
senior unsecured notes, the senior notes are rated at the B2 CFR.
If the revolving credit facility size were to increase, the notes
could be downgraded and rated one notch below the CFR.

Hornbeck will have good liquidity through 2016, as indicated by the
SGL-2 Speculative Grade Liquidity Rating.  At June 30, 2015,
Hornbeck had $263 million of cash, a $300 million revolving credit
facility (no borrowings outstanding and $0.5 million of letters of
credit outstanding).  Through 2016, Hornbeck's cash interest will
be approximately $75 million and capital spending will be
approximately $180 million.  Moody's expects the company to either
rely on the existing cash on the balance sheet or borrowings under
the revolving credit facility to meet its cash needs, as the EBITDA
generated through 2016 may not be sufficient to cover all cash
needs and working capital swings.  The credit facility requires the
company to comply with a 3.0x minimum interest coverage covenant
and a 55% maximum collateral to debt covenant. Moody's expects the
company to maintain sufficient cushion under the covenants through
2016.

The negative outlook reflects the potential for a protracted period
of weak utilization and day rate environment leading to a material
deterioration in the company's credit metrics.

A downgrade could occur if EBITDA drops below $100 million on a
sustained basis or if liquidity weakens materially.

The ratings are not likely to be upgraded at least through 2016
given the softness in the offshore services activity.  Should a
rise in utilization rates and dayrates contribute to a debt to
EBITDA ratio sustaining below 5.0x, combined with at least adequate
liquidity, Hornbeck's ratings could be upgraded.

Hornbeck Offshore Services, Inc. is a Covington, Louisiana, based
marine transportation service provider that serves customers in the
offshore oil and gas and construction industries, as well as the US
military.

The principal methodology used in these ratings was Global Oilfield
Services Industry Rating Methodology published in December 2014.



HOVENSA LLC: Gets OK to Pay Suppliers & Vendors $2.25 Million
-------------------------------------------------------------
Hovensa LLC received permission from the bankruptcy court to pay
prepetition amounts on account of critical vendor claims of up to
$1.35 million and suppliers for goods received by the Debtor in the
ordinary course during the 20-day period prior to the Petition Date
of not more than $0.9 million, on an interim basis.

The Debtor is authorized to, among other things, make payment to
the Critical Vendors on conditions that the Critical Vendors agree
to continue supplying goods and services to the Debtor on terms
consistent with the historical trade terms.

The Court also authorized the Debtor to condition any payment on
account of a Priority Claim on the written acknowledgment from the
applicable supplier that such supplier will continue to provide its
goods to the Debtor on trade terms.

A hearing to consider final approval of the Motion is scheduled for
Oct. 8, 2015, at 2:00 p.m.  Objection deadline is Oct. 1.

                           About Hovensa

Hovensa, L.L.C. produces and markets refined petroleum products.
The Company offers gasoline, diesel, home heating oil, jet fuel,
kerosene, and residual fuel oil.  Hovensa serves customers
throughout North America.

Hovensa L.L.C. filed a Chapter 11 bankruptcy petition in the U.S.
Bankruptcy Court for the District of the Virgin Islands (Bankr. D.
V.I. Case No. 15-10003) on Sept. 15, 2015.  The petition was signed
by Sloan Schoyer as authorized signatory.  The Debtor has estimated
assets of $100 million to $500 million, and liabilities of more
than $1 billion.

The Law Offices of Richard H. Dollison, P.C., serves as the
Debtor's counsel.  Prime Clerk LLC is the Debtor's claims and
noticing agent.  

Judge Mary F. Walrath is assigned to the case.


HOVENSA LLC: Prime Clerk Okayed as Claims & Noticing Agent
----------------------------------------------------------
The Bankruptcy Court authorized Hovensa, LLC, to retain Prime Clerk
LLC as claims, noticing, and solicitation agent, effective nunc pro
tunc to the Petition Date.

Prime Clerk is authorized to establish and maintain the Debtor's
web site at https://cases.primeclerk.com/hovensa, as well as
provide technology and communications-related services.

Prime Clerk will serve as the custodian of court records and will
be designated as the authorized repository for all proofs of claim
filed in the Debtor's case and is authorized and directed to
maintain an official claims register for the Debtor and to provide
the Clerk with a certified duplicate thereof upon request.

The Debtor is authorized to pay Prime Clerk in accordance with the
terms of the Engagement Agreement upon the receipt of reasonably
detailed invoices setting forth the services provided and the rates
charge for each, and to reimburse Prime Clerk for all reasonable
and necessary expenses it may incur.

Pursuant to Section 503(b)(1)(A) of the Bankruptcy Code, the fees
and expenses of Prime Clerk will be administrative expenses of the
Debtor's estate.

The Court authorized Prime Clerk to hold its retainer under the
Engagement Agreement during the Chapter 11 case as security for the
payment of fees and expenses.

The indemnification provisions in the Engagement Agreement are
approved, subject to certain modifications, including, Prime Clerk
will not be entitled to indemnification, contribution, or
reimbursement pursuant to the Engagement Agreement for services
other than those described in the Engagement Agreement, unless
those services and indemnification are approved by the Court.

                           About Hovensa

Hovensa, L.L.C. produces and markets refined petroleum products.
The Company offers gasoline, diesel, home heating oil, jet fuel,
kerosene, and residual fuel oil.  Hovensa serves customers
throughout North America.

Hovensa L.L.C. filed a Chapter 11 bankruptcy petition in the U.S.
Bankruptcy Court for the District of the Virgin Islands (Bankr. D.
V.I. Case No. 15-10003) on Sept. 15, 2015.  The petition was signed
by Sloan Schoyer as authorized signatory.  The Debtor has estimated
assets of $100 million to $500 million, and liabilities of more
than $1 billion.

The Law Offices of Richard H. Dollison, P.C., serves as the
Debtor's counsel.  Prime Clerk LLC is the Debtor's claims and
noticing agent.  

Judge Mary F. Walrath is assigned to the case.


HOVENSA LLC: Schedules Filing Deadline Extended Until Oct. 29
-------------------------------------------------------------
The Bankruptcy Court has extended Hovensa LLC's deadline to file
schedules of assets and liabilities, schedules of executory
contracts and unexpired leases, and statements of financial affairs
for an additional 30 days, through Oct. 29, 2015.

The Debtor had sought for the extension to ensure that the
Schedules and Statements are accurate and avoid the need for it to
file subsequent amendments.

                           About Hovensa

Hovensa, L.L.C., produces and markets refined petroleum products.
The Company offers gasoline, diesel, home heating oil, jet fuel,
kerosene, and residual fuel oil.  Hovensa serves customers
throughout North America.

Hovensa L.L.C. filed a Chapter 11 bankruptcy petition in the U.S.
Bankruptcy Court for the District of the Virgin Islands (Bankr. D.
V.I. Case No. 15-10003) on Sept. 15, 2015.  The petition was signed
by Sloan Schoyer as authorized signatory.  The Debtor has estimated
assets of $100 million to $500 million, and liabilities of more
than $1 billion.

The Law Offices of Richard H. Dollison, P.C., serves as the
Debtor's counsel.  Prime Clerk LLC is the Debtor's claims and
noticing agent.  

Judge Mary F. Walrath is assigned to the case.


IMPLANT SCIENCES: Delays Fiscal 2015 Form 10-K Filing
-----------------------------------------------------
Implant Sciences Corporation filed with the U.S. Securities and
Exchange Commission a Notification of Late Filing on Form 12b-25
with respect to its annual report on Form 10-K for the year ended
June 30, 2015.     
     
The Company said it was unable to prepare its accounting records
and schedules in sufficient time to enable its independent
registered public accounting firm to complete its audit of its
financial statements.  It is anticipated that the Form 10-K, along
with the audited financial statements, will be filed within the
fifteen-day extension period.  

                      About Implant Sciences

Implant Sciences Corporation (OBB: IMSC.OB) --
http://www.implantsciences.com/-- develops, manufactures and
sells sensors and systems for the security, safety and defense
(SS&D) industries.

As of March 31, 2015, the Company had $8.73 million in total
assets, $83.5 million in total liabilities and a $74.8 million
total stockholders' deficit.

Marcum LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the
year ended June 30, 2014.  The independent auditors noted that
the Company has had recurring net losses and continues to
experience negative cash flows from operations.  As of Sept. 23,
2014, the Company's principal obligation to its primary lenders
was approximately $53.4 million and accrued interest of
approximately $10.2 million.  The Company is required to repay all
borrowings and accrued interest to these lenders on March 31,
2015.  These conditions raise substantial doubt about its ability
to continue as a going concern.


INSITE VISION: Enters Into Merger Agreement with Sun Pharma
-----------------------------------------------------------
InSite Vision Inc., together with a subsidiary of Sun
Pharmaceutical Industries Ltd., entered into a merger agreement
under which an indirect wholly owned subsidiary of Sun Pharma will
acquire InSite in an all-cash transaction for $0.35 per share, or
approximately $48 million in aggregate equity value, on a fully
diluted basis.  The transaction has been approved by the boards of
directors of both InSite and the Sun Pharma subsidiary, and will be
completed by means of a tender offer.

InSite has terminated its previously announced second amended and
restated merger agreement with QLT Inc.  Following discussion with
both Sun Pharma and QLT, and in consultation with its outside legal
and financial advisors, the InSite Board of Directors determined
that the Sun Pharma transaction represented a Company Superior
Proposal under the QLT merger agreement.  In connection with
InSite's termination of the QLT merger agreement, InSite was
required to pay a $2,667,000 termination fee to QLT.  The Sun
Pharma subsidiary has paid this fee to QLT on InSite's behalf.

Under the merger agreement, InSite and the Sun Pharma subsidiary
have entered into a secured loan transaction pursuant to which
InSite borrowed funds sufficient to repay the amounts outstanding
under InSite's secured note in favor of QLT.  The loan also
provides InSite with the ability to make monthly borrowings to fund
its operations until closing.

"The merger agreement with Sun Pharma provides a significant
improvement in value for our stockholders," said Timothy Ruane,
InSite Vision's chief executive officer.  "We are excited about the
opportunity to be part of Sun Pharma."

Under the terms of the merger agreement, an indirect wholly owned
subsidiary of Sun Pharma will commence a tender offer for all
outstanding shares of InSite at $0.35 per share in cash.  The
completion of the tender offer will be conditioned on InSite's
stockholders tendering at least a majority of InSite's outstanding
shares, determined on a fully diluted basis, and other customary
closing conditions.  Following completion of the tender offer, both
companies will complete a merger in which InSite shares that were
not tendered in the tender offer will be cancelled and converted
into the right to receive $0.35 per share.  InSite will separately
prepare a proxy statement under which InSite will seek stockholder
approval of a merger involving the indirect wholly owned subsidiary
of Sun Pharma and InSite, pursuant to which all outstanding shares
of InSite would be converted into the right to receive $0.35 per
share.  If the merger agreement is terminated under specified
circumstances, InSite will be obligated to pay the Sun Pharma
subsidiary a termination fee of $2,667,000 to reimburse it for the
termination fee paid to QLT.

Commenting on the deal, Jerry St. Peter, vice president & head of
Sun Pharma's U.S. Ophthalmic Business said, "The potential addition
of the InSite Vision portfolio serves as a significant step towards
enhancing our branded specialty pipeline in the Ophthalmic segment.
InSite Vision will bring with it a pipeline of three late-stage
clinical candidates, validated drug delivery technology and a track
record of achieving US FDA approval for ophthalmic products."

Kal Sundaram, CEO of Sun Pharma's North American Business said,
"This potential acquisition is a part of our overall objective of
transitioning to a specialty company.  Besides Dermatology, we have
identified Ophthalmics as one of the key segments for establishing
our branded presence in the U.S."

The acquisition is expected to close in the fourth quarter of
2015.

Guggenheim Securities, LLC is acting as financial advisor to InSite
Vision.  Jones Day is acting as legal advisor to InSite Vision.

A copy of the Agreement and Plan of Merger is available at:

                       http://is.gd/GRdRlh

                           InSite Vision

Based in Alameda, California, InSite Vision Incorporated (OTCBB:
INSV) -- http://www.insitevision.com/-- is committed to
advancing new and superior ophthalmologic products for unmet eye
care needs.  The company's product portfolio utilizes InSite
Vision's proven DuraSite(R) bioadhesive polymer core technology, a
platform that extends the duration of drug retention on the
surface of the eye, thereby reducing frequency of treatment and
improving the efficacy of topically delivered drugs.

Burr Pilger Mayer, Inc., in E. Palo Alto, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company's recurring losses from operations, available cash balance
and accumulated deficit raise substantial doubt about its ability
to continue as a going concern.

Insite Vision reported net income of $26.8 million in 2014 compared
to net income of $5.7 million in 2013.

As of June 30, 2015, the Company had $4.6 million in total assets,
$19.2 million in total liabilities and a $14.6 million total
stockholders' deficit.


INTEGRO PARENT: S&P Assigns 'B' CCR & Rates 1st Lien Loans 'B'
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned New York-based
insurance services broker Integro Parent Inc. d/b/a Integro
Insurance Brokers (Integro) its 'B' long-term corporate credit
rating.  The outlook is stable.

At the same time, S&P assigned Integro's proposed first-lien credit
facilities, which consist of a $220 million term loan due 2022, a
$90 million delayed draw due 2022 (unfunded at transaction close),
and a $50 million revolver due 2020 (unfunded at transaction
close), S&P's debt ratings of 'B' and recovery ratings of '3' (in
the lower range).  The '3' recovery ratings indicate S&P's
expectations for a meaningful recovery (50%-70%) in the event of a
payment default.  S&P also assigned the proposed $80 million
second-lien term loan due 2023 its debt rating of 'CCC+' and
recovery rating of '6', which implies minimal recovery (0%-10%) in
the event of a payment default.

The 'B' counterparty credit rating on Integro reflects its weak
business risk profile (BRP) and highly leveraged financial risk
profile (FRP), as defined by S&P's corporate criteria.  Established
in 2005, Integro is a specialty broker with access to
London/reinsurance markets.  It offers insurance and
risk-management expertise targeting large accounts and
middle-market clients with unique risk characteristics or verticals
such as entertainment and healthcare.  In conjunction with this
transaction, the company is being sold to private-equity sponsor
Odyssey Investment Partners (Odyssey) to accelerate the growth of
the firm with additional financing capacity.

The stable outlook reflects S&P's expectations that Integro should
generate enough cash flow to support its acquisitive strategy and
maintain pro-forma EBITDA leverage ratios around 7.0x or slightly
higher by year-end 2015.  S&P also expects it to continue to
significantly de-lever after this transaction and for low to
mid-single-digit organic growth and top-line growth supported by
material acquisition growth.  S&P's outlook reflects its
expectation that the company will benefit from improved operational
efficiencies and successful acquisition integration of operations
with margins well over 30% to improve its overall margins toward
25%.

S&P would consider a downward rating action within the next 12
months if organic growth or cash-flow generation were to
deteriorate meaningfully, which could put pressure on execution of
strategy and increase the risk of an unfavorable combination of
higher-than-expected financial leverage and weaker-than-expected
EBITDA coverage.  The specific trigger points that could lead to a
downgrade include financial leverage in excess of 7x-7.5x on a
sustained basis and EBITDA coverage of less than 2.5x.

Although an upgrade is unlikely within the next 12 months, S&P
could raise the rating if cash-flow generation were to improve
financial leverage and EBITDA coverage to reflect a more
conservative level (financial leverage of less than 5.0x and EBITDA
coverage of 4.0x-5.0x) that S&P would expect the company to
sustain.



ISLE OF CAPRI CASINO: Moody's Raises CFR to B1, Outlook Stable
--------------------------------------------------------------
Moody's Investors Service raised Isle of Capri Casino, Inc.'s
(Isle) Corporate Family Rating to B1 from B2.  The company's
Probability of Default Rating and issue-level ratings were also
upgraded, including a one-notch upgrade of Isle's $350 million
senior subordinated notes due 2020 to B3 from Caa1.  Moody's
assigned an SGL-2 Speculative Grade Liquidity Rating to Isle.  The
rating outlook was revised from positive to stable.

Ratings upgraded:

  Corporate Family Rating, to B1 from B2

  Probability of Default Rating, to B1-PD from B2-PD

  $300 million revolver due 2018, to Ba1(LGD1) from Ba2(LGD1)

  $500 million 5.875% senior notes due 2021, to B1(LGD3) from
   B2(LGD3)

  $350 million 8.875% senior subordinated notes due 2020, to
   B3(LGD5) from Caa1(LGD5)

Rating Assigned:

  Speculative Grade Liquidity Rating, at SGL-2

RATINGS RATIONALE

"The upgrade acknowledges Isle's success at improving its financial
and operating risk to a level we believe is sustainable, and
prepares the company for the significant and complex challenges
that face US regional gaming operators in general," stated Keith
Foley, a Senior Vice President at Moody's.

A stabilization in monthly gaming revenue trends throughout the US,
accompanied by a lower and more efficient cost structure and
absolute debt reduction every quarter since the company's April 30,
2014 fiscal year-end, has enabled Isle to reduce adjusted
debt/EBITDA to about 4.9 times.  This leverage is below the 5.0
times trigger required for a higher rating and lower than the
adjusted debt/EBITDA of other large, diversified gaming issuers,
including Boyd Gaming Corporation (B2 stable), MGM Resorts
International (B2 stable), Peninsula Gaming, LLC (B2 stable), and
Pinnacle Entertainment, Inc. (B1 stable).

"These improvements also position Isle to lower its leverage
further as the company is expected to apply a portion of its free
cash flow to absolute debt reduction," added Foley.

Earlier this year, Isle completed a refinancing that eliminated its
closest debt maturity as well as increased the amount of
pre-payable debt in its capital structure.  As a result, even with
the approximately $60 million of capital expenditures associated
with the construction of a land-based casino in Bettendorf, Iowa,
Moody's expects Isle will generate between $100 million and $120
million of free cash flow in fiscal 2016 and 2017 combined.
Applying all of these proceeds to debt reduction, and assuming a 5%
increase in EBITDA in each of the next two fiscal years would bring
debt/EBITDA close to 4.0 times.

Other factors supporting the B1 Corporate Family Rating include
Moody's stable US gaming Industry Sector Outlook (ISO) -- Moody's
revised the US gaming ISO to stable from negative this past July --
and Isle's geographic diversification which reduces Isle's exposure
to regional economic downturns, overbuilding in a particular
market, competitive challenges, and regulatory risk. Isle operates
gaming facilities in six states.  No single state accounted for
more than 30% of the company's property-level EBITDA, and no single
casino property accounted for more than 20% of its property-level
EBITDA.

The stable rating outlook is based on Moody's expectation that Isle
will continue to apply its free cash flow towards debt repayment
and that the operating environment for regional gaming remains
stable.  Also considered is the company's good liquidity which is
characterized by positive free cash profile, lack of material
near-term debt maturities, and Moody's expectation that Isle will
continue to maintain a comfortable level of cushion with respect to
the leverage and coverage maintenance tests included in its credit
agreement.

A higher rating is possible over the longer-term but is currently
limited by Moody's more general concerns regarding the fundamental
challenges faced by Isle and other US regional gaming operators.
The concerns include casino oversupply conditions, continued
pressure on consumer discretionary spending, and changes in
consumer preferences away from traditional gaming activities.
Ratings could be lowered if gaming demand trends show signs of a
material weakening from current levels and/or Isle's debt/EBITDA
will rise to an remain at over 5.25 times for an extended period of
time.


JKM INVESTMENT: Case Summary & 4 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: JKM Investment Group, LLC
        8642 Willow Green Road
        Snow Hill, NC 28580

Case No.: 15-05096

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: September 18, 2015

Court: United States Bankruptcy Court
       Eastern District of North Carolina
       (Greenville Division)

Judge: Hon. Stephani W. Humrickhouse

Debtor's Counsel: John G. Rhyne, Esq.
                  JOHN G. RHYNE, ATTORNEY AT LAW
                  P.O. Box 8327
                  Wilson, NC 27893
                  Tel: 252 234-9933
                  Email: johnrhyne@johnrhynelaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Charles Vandiford, member/manager.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/nceb15-05096.pdf


JODY L. KEENER: Super Wings' Bid to Dismiss Turnover Suit Granted
-----------------------------------------------------------------
Debtor Jody L. Keener brought an adversary proceeding seeking
turnover of valuable plastic toy molds from Super Wings
International, Limited.  The Defendant filed a Motion to Amend and
Alter the United States Bankruptcy Court for the Northern District
of Iowa's April 16, 2015 Ruling.  That Ruling denied Super Wing's
Motion to Dismiss Combined with or in the Alternative Motion for
Summary Judgment.  The Court held a hearing on May 7, 2015, and
then granted the Debtor additional time to file a resistance, and
took the matter under advisement.  In a memorandum and order dated
Aug. 28, 2015, U.S. Chief Bankruptcy Judge Thad J. Collins amends
its factual findings in the April 16, 2015 Ruling, and granted
Super Wings' Motion to Dismiss.

The adversary proceeding is JODY L. KEENER, Plaintiff, v. SUPER
WINGS INTERNATIONAL, LIMITED, Defendant, ADVERSARY NO. 14-09061
(Bankr. N.D. Iowa).  The bankruptcy case is IN RE: JODY L. KEENER,
Chapter 11, Debtor, BANKRUPTCY NO. 14-01169 (Bankr. N.D. Iowa).

A full-text copy of Judge Collins' Decision is available at
http://tinyurl.com/qzm8ytyfrom Leagle.com.

Jody L. Keener, Plaintiff, represented by Seth R. Delutri, Esq. --
delutri.seth@bradshawlaw.com -- Jeffrey D. Goetz, Esq. --
goetz.jeffrey@bradshawlaw.com -- and Krystal Mikkilineni, Esq. --
mikkilineni.krystal@bradshawlaw.com --Bradshaw, Fowler, Proctor &
Fairgrave.

Super Wings International, Limited, Defendant, represented by Eric
W. Lam.

Super Wings International, Limited, Defendant, represented by Abbe
M Stensland.


JOHN HARVEY WHITNEY: Court Denies Compromise with Lender
--------------------------------------------------------
Judge Robert Kwan of the United States Bankruptcy Court for the
Central District of California, Los Angeles Division, in an order
dated Aug. 17, 2015, denied without prejudice debtor John Harvey
Whitney, Jr.'s motion to approve a compromise between the debtor
and J.P. Morgan Chase Bank, N.A., as well as the financing and plan
modification to effectuate compromise.

The case is In re: JOHN HARVEY WHITNEY, JR., Chapter 11, Debtor,
CASE NO. 2:09-BK-30258-RK (Bankr. C.D. Calif.).  A full-text copy
of Judge Kwan's Decision is available at http://tinyurl.com/ps4lvl7
from Leagle.com.

John Harvey Whitney, Jr, Debtor, represented by Jerome Bennett
Friedman.

United States Trustee (LA), U.S. Trustee, represented by Alvin Mar.


JOHN HOOVER: Order Converting Case to Chapter 7 Affirmed
--------------------------------------------------------
Judge Timothy S. Hillman of the United States District Court for
the District of Massachusetts, in a memorandum and order dated Aug.
27, 2015, affirmed the order from the United States Bankruptcy
Court for the District of Massachusetts converting John E. Hoover,
III's Chapter 11 bankruptcy case to a liquidation under Chapter 7.

The appeals case is JOHN E. HOOVER, III Appellant, v. WILLIAM K.
HARRINGTON UNITED STATES TRUSTEE FOR REGION 1, Appellee, CIV. ACT.
NO. 14-40126-TSH (D. Mass.).  The bankruptcy case is In re John E.
Hoover, III, Debtor, CASE NO. 14-40478-MSH (Bankr. D. Mass.).  A
full-text copy of Judge Hillman's Decision is available at
http://tinyurl.com/qx7hnckfrom Leagle.com.

John E. Hoover, III, Appellant, represented by David G. Baker.

William Harrington, Appellee, represented by Lisa D. Tingue,
Department of Justice.

Richard King, Notice, represented by Lisa D. Tingue, Department of
Justice.


JOSE LUIS CRESPO LORENZO: Atty's Bid for Fees Payment Denied
------------------------------------------------------------
Judge Edward A. Godoy of the United States Bankruptcy Court for the
District of Puerto Rico, in an opinion and order dated Aug. 31,
2015, denied the motion filed by Jose Miguel Perez Villanueva, an
attorney who represented debtor Jose Luis Crespo Lorenzo and his
non-filing companion in a prepetition expropriation suit in local
court, seeking to withdraw funds consigned with the bankruptcy
court as payment for attorney's fees owed to him for work performed
on the expropriation case.

The case is IN RE: JOSE LUIS CRESPO LORENZO, Chapter 11 Debtor,
CASE NO. 14-04720 EAG (Bankr. D.P.R.).  A full-text copy of Judge
Godoy's Decision is available at http://tinyurl.com/nq4a6x4from
Leagle.com.

Jose Luis Crespo Lorenzo, Debtor, represented by Jose Ramon
Cintron.


LAWRENCE, WI: S&P Lowers LT Rating on 2008 GO Notes to 'BB+'
------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating to
'BB+' from 'AA' on the Town of Lawrence, Wis.'s series 2008 general
obligation (GO) promissory notes and series 2012 GO refunding bonds
and placed the rating on CreditWatch with developing implications.

"The lowered rating reflects our recently becoming aware of the
town's existing direct purchase debt, which in our opinion includes
permissive events of default within the loan agreements that
constitute a significant contingent liability risk," said Standard
& Poor's credit analyst Michael Furla.  "The CreditWatch developing
placement reflects our view of the town's current attempt to
renegotiate the existing terms within the bank loan agreements
although it is unclear at this time if management will be
successful in achieving these revisions," Mr. Furla added.

"Under our CreditWatch developing definition, we could raise or
lower the rating or return the outlook to stable within our 90-day
time horizon.  If the town were to successfully renegotiate the
terms of the bank loan agreements, removing what we consider
permissive events of default that could trigger immediate
acceleration of principal and interest, we could raise the rating
by multiple categories.  Conversely, if the permissive terms remain
in the loan agreements we would likely affirm the current rating
and assign a stable outlook.  Further, the rating could be lowered
if the town's available liquidity were to weaken significantly,"
S&P said.

Lawrence, with an estimated population of 4,886, is located in
Brown County approximately eight miles south of Green Bay.



LIFECARE HOLDINGS: 3rd Circ. Affirms Sale of Assets
---------------------------------------------------
The United States Court of Appeals for the Third Circuit, in an
opinion dated Sept. 14, 2015, affirmed a bankruptcy court's order
authorizing ICL Holding Company, Inc., et al., to sell
substantially all of their assets over the objection of the
Internal Revenue Service.

The Third Circuit explains that "Section 363 of the Bankruptcy Code
allows a debtor to sell substantially all
of its assets outside a plan of reorganization.  In modern
bankruptcy practice, it is the tool of choice to put a quick close
to a bankruptcy case.  It avoids time, expense, and, some would
say, the Bankruptcy Code's unbending rules.  The issue at the core
of this appeal, which arises from such a sale, is whether certain
payments by a Section 363 purchaser (here an entity formed by the
secured lenders of the debtors) in connection with acquiring the
debtors' assets should be distributed according to the Code's
creditor-payment
hierarchy."

"To give some color to this issue, the secured lenders here were
owed more than the value of the debtors' assets, making them
undersecured.  They acquired the assets by crediting approximately
90% of the secured debt they were owed.  No cash changed hands.
The only cash payments made in connection with the deal were those
the secured lenders deposited in escrow for professional fees and
paid directly to the unsecured creditors," the Third Circuit rules.
Accordingly, the Third Circuit concludes that neither of the two
payments went into or came out of the bankruptcy estate.  Thus the
cash was not subject to the Code's distribution priority, the Third
Circuit rules.

Stephen J. Lubben, writing for The New York Times' DealBook,
reported that the United States Court of Appeals for the Third
Circuit has issued an opinion in the Chapter 11 cases of ICL
Holding Company, Inc., et al., that will have a significant impact
on Chapter 11 bankruptcy practice.  According to Mr. Lubben, the
decision is apt to reinforce the tendency to resolve Chapter 11
cases by what is known as 363 sales, as opposed to traditional
reorganization plans.

Mr. Lubben pointed out that in the Third Circuit's opinion, Judge
Thomas L. Ambro, who, unlike many appellate judges, is a member of
the American College of Bankruptcy, explained that plans involve
the distribution of bankruptcy estate assets.  In ICL's case,
however, the payments to professionals and unsecured creditors were
coming directly from the secured lender.  This, Mr. Lubben notes,
will greatly affect the structuring of bankruptcy plans in the
future.  More important, it suggests a flexibility in 363 sales
that might not exist in traditional reorganization plans, and thus
the case is apt to lead to even more quick sales in corporate
bankruptcy cases, Mr. Lubben further notes.

A full-text copy of the Third Circuit's Opinion dated Sept. 14,
2015, is available at http://bankrupt.com/misc/ICL091415.pdf

                          About LifeCare

LCI Holding Company, Inc., and its affiliates, doing business as
LifeCare Hospitals, operate eight "hospital within hospital"
facilities and 19 freestanding facilities in 10 states.  The
hospitals have about 1,400 beds at facilities in Louisiana, Texas,

Pennsylvania, Ohio and Nevada.  LifeCare is controlled by Carlyle
Group, which holds 93.4% of the stock following a
$570 million acquisition in August 2005.

LCI Holding Company, Inc., and its affiliates, including LifeCare
Holdings Inc., sought Chapter 11 protection (Bankr. D. Del. Lead
Case No. 12-13319) on Dec. 11, 2012, with plans to sell assets to
secured lenders.

Ken Ziman, Esq., and Felicia Perlman, Esq., at Skadden, Arps,
Slate Meagher & Flom LLP, serve as counsel to the Debtors.
Rothschild Inc. is the financial advisor.  Huron Management
Services LLC will provide the Debtors an interim chief financial
officer and certain additional personnel; and (ii) designate
Stuart Walker as interim chief financial officer.

The steering committee of lenders is represented by attorneys at
Akin Gump Strauss Hauer & Feld LLP and Blank Rome LLP.  The agent
under the prepetition and postpetition secured credit facility is
represented by Simpson Thacher & Barlett LLP.

The Debtors disclosed assets of $422 million and liabilities
totaling $575.9 million as of Sept. 30, 2012.  As of the
bankruptcy filing, total long-term obligations were $482.2 million

consisting of, among other things, institutional loans and
unsecured subordinated loans.  A total of $353.4 million is owing
under the prepetition secured credit facility.  A total of
$128.4 million is owing on senior subordinated notes.  LifeCare
Hospitals of Pittsburgh, LLC, a debtor-affiliate disclosed
$24,028,730 in assets and $484,372,539 in liabilities as of the
Chapter 11 filing.

The Official Committee of Unsecured Creditors is represented by
Pachulski Stang Ziehl & Jones LLP.  FTI Consulting, Inc., serves
as its financial advisor.


LOUIS J. PEARLMAN: Court Overrules Objection to Case Closing Bid
----------------------------------------------------------------
Judge Karen S. Jennemann of the United States Bankruptcy Court for
the Middle District of Florida, Orlando Division, in an order dated
Aug. 28, 2015, overruled the limited objection filed by Colonel
Edwin Selby and Janice Selby to the joint motion by Soneet Kapila,
the Liquidating Trustee for Louis J. Pearlman, and the Oversight
Committee, which seeks to close the Liquidating Trust and discharge
the Trustee and the Oversight Committee from their respective
duties.

All assets have been administered, all funds have been distributed
to creditors, all adversary proceedings have been resolved, and the
Pearlman case is finally ready to come to an end.  The Selbys, who
have suffered catastrophic financial losses like many other
individuals involved in the case, object to the Joint Motion,
arguing they still are owed distributions on claims they did not
receive payment on.

The case is In re LOUIS J. PEARLMAN, et. al., Chapter 11 Debtors,
CASE NO. 6:07-BK-00761-KSJ (Bankr. M.D. Fla.).  A full-text copy of
Judge Jennemann's Decision is available at
http://tinyurl.com/qc2z9t9from Leagle.com.

Tatonka Capital Corporation, Petitioning Creditor, is represented
by Derek F Meek, Esq. -- dmeek@burr.com -- Burr & Forman LLP,
Robert B. Rubin, Esq. -- brubin@burr.com -- Burr & Forman LLP.

First National Bank & Trust Co. of Williston, Petitioning Creditor,
is represented by Raymond V Miller, Esq. -- rmiller@gunster.com --
Gunster Yoakley & Stewart PA, Richard P Olson, Esq., at Olson &
Burns PC, Michael A Tessitore, Moran Kidd Lyons Johnson & Berkson
PA.

Integra Bank, Petitioning Creditor, is represented by Lawrence E
Rifken, McGuire Woods LLP, Danielle S Kemp, Greenberg Traurig,
P.A..

American Bank of St. Paul, Petitioning Creditor, is represented by
William P Wassweiler, Lindquist & Vennum PLLP.

Soneet R Kapila, Trustee, is represented by Gregory M Garno,
Genovese Joblove & Battista PA, Paul J Battista, Genovese Joblove &
Battista PA, Esther A McKean, Akerman Senterfitt, Soneet R Kapila,
Samual A Miller, Akerman Senterfitt, Monique Hayes, Genovese
Joblove & Battista PA, James G Sammataro, Kasowitz Benson Torres &
Friedman LLP, Sundeep S Sidhu, Akerman Senterfitt.

United States Trustee-ORL, 11, U.S. Trustee, is represented by
Miriam G Suarez, Office of the United States Trustee.

The Official Creditors Committee of Trans Continental Airlines,
Inc., is represented by Robert J Feinstein, Pachulski Stang Ziehl &
Jones LLP.


MCCORMICK TWELVE: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: McCormick Twelve West, LLC
        12 W. Main Street
        Mesa, AZ 85201

Case No.: 15-11983

Chapter 11 Petition Date: September 18, 2015

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Hon. Brenda Moody Whinery

Debtor's Counsel: Thomas H. Allen, Esq.
                  ALLEN MAGUIRE & BARNES, PLC
                  Viad Corporate Center
                  1850 N. Central Ave., #1150
                  Phoenix, AZ 85004
                  Tel: 602-256-6000
                  Fax: 602-252-4712
                  Email: tallen@ambazlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Bryan McCormick, member.

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


METALICO INC: Common Stock Delisted From NYSE MKT
-------------------------------------------------
The NYSE MKT LLC filed on Sept. 14, 2015, a Form 25 with the
Securities and Exchange Commission notifying the removal from
listing of Metalico Inc.'s common stock.  A security is considered
to be delisted 10 days after the filing of Form 25 with the SEC.

                          About Metalico

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

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

As of June 30, 2015, the Company had $163.90 million in total
assets, $71.60 million in total liabilities and $92.30 million in
total stockholders' equity.

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


MONTREAL MAINE: Judge Poised to Approve Oil Train Disaster Deal
---------------------------------------------------------------
The Associated Press reported that a $338 million settlement fund
for victims of a fiery train derailment that claimed 47 lives in
Canada is poised for final approval, but payments could be held up
by a legal challenge from one of that country's largest railways.

According to the report, if the settlement is approved, Canadian
Pacific, which opposes the settlement fund and declined to
contribute to the fund, would be left open to lawsuits while those
the railroad considers to be responsible would be shielded from
further legal battles by the agreement.

                   About Montreal Maine

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

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

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

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

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

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

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

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

Montreal, Maine & Atlantic Canada Co. ("MMA Canada"), the Canadian
unit of Chapter 11 debtor Montreal, Maine & Atlantic Railway Ltd.
("MMA"), on July 20, 2015, filed a Chapter 15 bankruptcy petition
(Bankr. D. Maine Case No. 15-20518) in Portland, Maine, to seek
recognition and enforcement in the U.S. of the order by the Quebec
Court approving MMA Canada's plan to pay off victims of the July
2013 derailment.


MOTORS LIQUIDATION: New GM's Bid to Review No Stay Pleading Denied
------------------------------------------------------------------
Judge Robert E. Gerber of the United States Bankruptcy Court for
the Southern District of New York denied the motion filed by
General Motors LLC ("New GM") to reconsider its Order Regarding
Benjamin Pillars' No Stay Pleading and Related Pleadings.

The said order, which was entered on July 29, 2015, lifted the stay
of proceedings as it relates to a lawsuit brought on March 23,
2015, by Benjamin W. Pillars, as Personal Representative of the
estate of Kathleen Ann Pillars, against New GM.  The lawsuit is
currently before the United States District Court for the Eastern
District of Michigan, Northern Division.

New GM contended that reconsideration of the order is warranted
because, in the period since the issuance of the order, the
Michigan District Court approved certain amendments to New GM's
lawsuit pleadings and that such amendments constitute "new
evidence."  These pertained to the amendments to New GM's Notice of
Removal and Answer which changed references to the June 26, 2009
version of an Amended and Restated Master Sale and Purchase
Agreement to refer to the June 30, 2009 version.  The latter
version provides for New GM to assume the liabilities of Motors
Liquidation Company ("Old GM") that arose only from those
"accidents" or "incidents" first occurring on or after July 10,
2009.

Judge Gerber, however, concluded that the said pleading amendments
are not the type of newly discovered evidence for which relief can
be granted, and that New GM has failed to show that reconsideration
of the order is warranted. The judge explained that in order to
"obtain reconsideration of a judgment based upon newly discovered
evidence," the moving party must show, inter alia, it was
"excusably ignorant of the facts despite using due diligence to
learn about them..."  Judge Gerber held that the mistaken
references to the June 26 version in New GM's initial pleadings
were clearly discoverable by New GM prior to the July 16 hearing on
Pillars' No Stay Pleading.

The case is In re MOTORS LIQUIDATION COMPANY, et al., Chapter 11,
f/k/a General Motors Corp., et al., Debtors, CASE NO. 09-50026
(REG) (Bankr. S.D.N.Y.).

A full-text copy of Judge Gerber's September 9, 2015 opinion and
order is available at http://is.gd/rqpdtIfrom Leagle.com.

Motors Liquidation Company is represented by:

          Donald F. Baty Jr., Esq.
          Judy B. Calton, Esq.
          Joseph R. Sgroi, Esq.
          Tricia A. Sherick, Esq.
          Robert B. Weiss, Esq.
          HONIGMAN MILLER SCHWARTZ AND COHN, LLP
          2290 First National Building
          660 Woodward Avenue
          Detroit, MI 48226
          Tel: (313) 465-7000
          Email: dbaty@honigman.com
                 jcalton@honigman.com
                 jsgroi@honigman.com
                 tsherick@honigman.com
                 
            -- and --

          David R. Berz, Esq.
          WEIL GOTSHAL & MANGES, LLP
          1300 Eye Street, NW, Suite 900
          Washington, DC 20005
          Tel: (202) 682-7000
          Email: david.berz@retired.weil.com
                 
            -- and –-

          Stephen Karotkin, Esq.
          Robert J. Lemons, Esq.
          Harvey R. Miller, Esq.
          Joseph H. Smolinsky, Esq.
          WEIL GOTSHAL & MANGES, LLP
          767 Fifth Avenue
          New York, NY 10153-0119
          Tel: (212) 310-8000
          Email: stephen.karotkin@weil.com
                 robert.lemons@weil.com
                 joseph.smolinsky@weil.com
                 
            -- and –-

          Deborah Kovsky-Apap, Esq.
          PEPPER HAMILTON LLP
          4000 Town Center Suite 1800
          Southfield, MI 48075-1505
          Tel: (248) 359-7300
          Fax: (248) 359-7700
          Email: kovskyd@pepperlaw.com

            -- and --

          Daniel R. Murray, Esq.
          JENNER & BLOCK, LLP
          353 N. Clark Street
          Chicago, IL 60654-3456
          Tel: (312) 222-9350
          Fax: (312) 527-0484
          Email: dmurray@jenner.com

            -- and --

          Patrick J. Trostle, Esq.
          JENNER & BLOCK, LLP
          919 Third Avenue
          New York, NY 10022-3908
          Tel: (212) 891-1600
          Fax: (212) 891-1699
          Email: ptrostle@jenner.com                  

Wilmington Trust Company is represented by:

          Lisa H. Rubin, Esq.
          Aric Wu, Esq.
          GIBSON DUNN & CRUTCHER LLP
          200 Park Avenue
          New York, NY 10166-0193
          Tel: (212) 351-4000
          Fax: (212) 351-4035
          Email: lrubin@gibsondunn.com
                 awu@gibsondunn.com

United States Trustee is represented by:

          Brian Shoichi Masumoto, Esq.
          Andrea B. Schwartz, Esq.
          Andrew D. Velez-Rivera, Esq.
          OFFICE OF THE UNITED STATES TRUSTEE
          U.S. Federal Office Building
          201 Varick Street, Suite 1006
          New York, NY 10014
          Tel: (212) 510-0500
          Fax: (212) 668-2255

GCG, Inc. is represented by:

          Angela Ferrante, Esq.
          Jeffrey S. Stein, Esq.
          GARDEN CITY GROUP, LLC
          1985 Marcus Ave.
          Lake Success, NY 11042
          Tel: (800) 327-3664
          Email: angela.ferrante@gardencitygroup.com

Official Committee of Unsecured Creditors of General Motors
Corporation is represented by:

          Philip Bentley, Esq.
          David E. Blabey, Esq.
          Amy Caton, Esq.
          Lauren Macksoud, Esq.
          Thomas Moers Mayer, Esq.
          Gordon Z. Novod, Esq.
          Gregory G. Plotko, Esq.
          Adam C. Rogoff, Esq.
          Robert T. Schmidt, Esq.
          Jennifer Sharret, Esq.
          KRAMER, LEVIN, NAFTALIS & FRANKEL, LLP
          1177 Avenue of the Americas
          New York, NY 10036
          Tel: (212) 715-9100
          Fax: (212) 715-8000
          Email: pbentley@kramerlevin.com
                 dblabey@kramerlevin.com
                 acaton@kramerlevin.com
                 tmayer@kramerlevin.com
                 gplotko@kramerlevin.com
                 arogoff@kramerlevin.com
                 rschmidt@kramerlevin.com
                 jsharret@kramerlevin.com

            -- and --

          Eric Fisher, Esq.
          DICKSTEIN SHAPIRO LLP
          1633 Broadway
          New York, NY 10019-6708
          Tel: (212) 277-6500
          Fax: (212) 277-6501
          Email: fishere@dicksteinshapiro.com

             About Motors Liquidation Company

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on
June 1, 2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  Harvey R. Miller, Esq., Stephen Karotkin,
Esq., and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges
LLP, assist the Debtors in their restructuring efforts.  Al Koch
at AP Services, LLC, an affiliate of AlixPartners, LLP, serves as
the Chief Executive Officer for Motors Liquidation Company.  GM
is also represented by Jenner & Block LLP and Honigman Miller
Schwartz and Cohn LLP as counsel.  Cravath, Swaine, & Moore LLP
is providing legal advice to the GM Board of Directors.  GM's
financial advisors are Morgan Stanley, Evercore Partners and the
Blackstone Group LLP.  Garden City Group is the claims and notice
agent of the Debtors.

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

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

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

As of March 31, 2015, Motors Liquidation had $1.01 billion in total
assets, $69.2 million in total liabilities and $945 million in net
assets in liquidation.


NET DATA: Judge Set to Hear Charter Holdings Agreement
------------------------------------------------------
A bankruptcy judge is set to hear a motion filed by Net Data
Centers Inc. to approve a deal with Charter Holdings Inc. that
allowed the company to use its Los Angeles data center rent-free
for two months.

U.S. Bankruptcy Judge Sheri Bluebond will take up the motion at a
hearing on Sept. 24.

The agreement allowed Net Data to use the facility rent-free for
July and August, saving the Internet-based data center service
provider more than $1.4 million.

In exchange, Net Data is required under the deal to transfer to
Charter furniture, fixtures and equipment that it used in operating
its data center located at 1200 W. 7th Street, in Los Angeles,
California.  

The company will also assign to Colonet Solutions LLC its customer
contracts.  Also to be assigned is Net Data's sublease contract
with Charter, court filings show.

Earlier, Net Data defended its move to assign the sublease and its
contracts with creditor Garland Connect LLC.

In a court filing, the company argued that Garland "has no standing
to object" to the assignment of the sublease since it is not a
party to the contract.  

Net Data also said that it is free to assume and assign its
contracts with the creditor since they have not yet been rejected.


Anschutz Entertainment Group Inc., a Net Data customer, had
expressed concern the court would deny the assignment of those
contracts, saying it would put customers in a "precarious
situation."

Meanwhile, Net Data drew support from the committee representing
the company's unsecured creditors.  The group cited the benefits
that Net Data would get if the court approved its agreement with
Charter.

The agreement was supposed to be considered at a court hearing on
Sept. 10.  Judge Bluebond decided to delay the hearing at the
request of Garland and despite objections from Net Data and
Charter.

                    About Net Data Centers

Net Data Centers, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. C.D. Cal. Case No. 15-12690) on Feb. 23, 2015.  Pervez
P. Delawalla, the president & CEO, signed the petition.  The
Hon. Sheri Bluebond is assigned to the case.  William F Govier,
Esq., at Lesnick Prince & Pappas LLP, serves as counsel to the
Debtor.

The Debtor disclosed, in its amended schedules, $9,566,908 in
assets and $13,352,373 in liabilities.  In its original schedules,
the Debtor disclosed $9,110,070 in assets and $5,236,687 in
liabilities.  

The U.S. trustee appointed three creditors to serve on the Official
Committee of Unsecured Creditors.  The Committee is represented by
Buchalter Nemer, APC.


NET ELEMENT: Further Amends Letter Agreements
---------------------------------------------
Net Element, Inc. and certain qualified institutional investors and
certain institutional accredited investors who are parties to the
two letter agreements, each dated Aug. 4, 2015, agreed to further
modify the Letter Agreements by extending the Moratorium Date (as
defined in the Letter Agreements) to 11:59 pm EST on Sept. 30,
2015.

On Aug. 4, 2015, Net Element entered into two letter agreements
with the certain qualified institutional investors and certain
institutional accredited investors listed in the Securities
Purchase Agreement (Series A Convertible Preferred Stock of the
Company) (the "Preferred SPA") and the Securities Purchase
Agreement (Senior Convertible Notes and Warrants) (the "Debt SPA").
The Letter Agreements waived certain terms of the Series A
Convertible Preferred Stock of the Company, and waived and amended
certain terms of the Preferred SPA and the Debt SPA and of the
Senior Convertible Notes and Warrants issued pursuant to the Debt
SPA.

                         About Net Element

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

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

As of June 30, 2015, the Company had $25.8 million in total assets,
$14.5 million in total liabilities, and total stockholders' equity
of $11.2 million.

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


NET TALK.COM: Sued by KBM for Alleged Securities Fraud
------------------------------------------------------
KBM Worldwide, Inc., filed a complaint against Net Talk.com, Inc.,
Anastasios Kyriakides (the chief executive officer of the Company),
Steven M. Healy (the chief financial officer of the Company),
Kenneth Hosfeld (a director of the Company), Telestrata, LLC and
Samer Bishay, in the U.S. District Court for the Eastern District
of New York on Sept. 2, 2015.

The complaint alleges, among other things, violations of the
antifraud provisions of Section 10(b) of the Securities Exchange
Act of 1934, as amended and Rule 10b-5 thereunder, by the Company,
Mr. Kyriakides, Mr. Healy and Mr. Hosfeld, and breaches of contract
by the Company, relating to a convertible promissory note issued by
the Company in the amount of $53,500 to KBM on or about Dec. 15,
2014.  

The complaint alleges, among other things, that the Company failed
to maintain sufficient shares of common stock reserved for issuance
upon conversion of the note and failed to timely issue shares of
common stock upon receipt of a conversion notice under the note.
The complaint seeks damages of not less than $107,000 plus
interest, fees, and legal expenses, and injunctive relief directing
the Company to permit the note to be converted to common stock.

                        About Net Talk.com

Based in Miami, Fla., Net Talk.com, Inc., is a telephone company,
that provides, sells and supplies commercial and residential
telecommunication services, including services utilizing voice
over internet protocol technology, session initiation protocol
technology, wireless fidelity technology, wireless maximum
technology, marine satellite services technology and other similar
type technologies.

Net Talk.Com reported a net loss of $2.84 million on $5.06 million
of net revenues for the year ended Dec. 31, 2014, compared to a net
loss of $4.78 million on $6.02 million of net revenues for the year
ended Dec. 31, 2013.

As of March 31, 2015, the Company had $4.13 million in total
assets, $13.6 million in total liabilities and a $9.51 million
total stockholders' deficit.

Zachary Salum Auditors P.A., in South Miami, Florida, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company has incurred significant recurring losses from operations,
its total liabilities exceeds its total assets, and is dependent on
outside sources of funding for continuation of its operations.
These factors raise substantial doubt about the Company's ability
to continue as a going concern.


NORTEL NETWORKS: SNMP's Bid to Withdraw Reference Denied
--------------------------------------------------------
Judge Leonard P. Stark of the United States District Court for the
District of Delaware denied the motion filed by SNMP Research
International, Inc. and SNMP Research, Inc. to withdraw the
reference of their adversary complaint against Nortel Networks,
Inc. and Avaya, Inc.

On November 2, 2011, SNMP filed its adversary complaint against the
debtor, Avaya, Radware, Ltd., and other defendants.  SNMP alleged
that the debtors engaged in unauthorized post-petition use,
distribution, license and sale of SNMP's intellectual property to
Avaya and others, and that these purchases also violated SNMP's
intellectual property rights.  Radware filed a motion to dismiss,
which the bankruptcy court granted.

In February 2014, SNMP entered into separate stipulations with the
debtors and with Avaya, agreeing to stay the adversary proceeding
until 30 days after a Canadian court ruled on SNMP's motion seeking
relief from automatic stay.  The Canadian court denied the stay
relief motion, thus triggering the end of the stipulated stays
between SNMP and the debtors and Avaya.

On June 2, 2015, SNMP filed its Motion to Withdraw the Reference
and a supporting brief, contending that 28 U.S.C. Section 157(d)
mandates the court to withdraw the reference because the resolution
of the adversary proceeding will require substantial and material
consideration of the Copyright Act.  Alternatively,  SNMP also
contended the court should exercise its discretion to withdraw the
proceeding for cause.

Judge Stark concluded that consideration of all the appropriate
factors favors denying SNMP's motion at this time.  The judge
explained that permitting the bankruptcy court to oversee pretrial
matters in this proceeding, and withrawing it only when it is ripe
for a jury trial, promotes judicial economy and a timely resolution
of this case.

The bankruptcy case is IN RE: NORTEL NETWORKS, INC., et al.,
Debtors, BANKR. CASE NO. 09-10138-KG (Bankr. D. Del.).

The adversary proceeding is SNMP RESEARCH INTERNATIONAL, INC. and
SNMP RESEARCH, INC. Plaintiffs, v. NORTEL NETWORKS, INC., et al.
and AVAYA, INC., Defendants, ADV. PRO. NO. 11-53454-KG, CIV. NO.
15-449-LPS  (Bank. D. Del.).

A full-text copy of Judge Stark's September 9, 2015 is available at
http://is.gd/s3APwtfrom Leagle.com.

SNMP Research International Inc. is represented by:

          Norman L. Pernick, Esq.
          Nicholas Jaison Brannick, Esq.
          COLE, SCHOTZ, MEISEL, FORMAN & LEONARD, P.A.
          500 Delaware Avenue Suite 1410
          Wilmington, DE 19801
          Tel: (302) 652-3131
          Fax: (302) 652-3117
          Email: npernick@coleschotz.com
                 nbrannick@coleschotz.com

            -- and --

          G. David Dean, Esq.
          COLE, SCHOTZ, MEISEL, FORMAN & LEONARD, P.A.
          300 East Lombard Street Suite 1450
          Baltimore, MD 21202
          Tel: (410) 230-0660
          Fax: (410) 230-0667
          Email: ddean@coleschotz.com

SNMP Research Inc. is represented by:

          Norman L. Pernick, Esq.
          Nicholas Jaison Brannick, Esq.
          COLE, SCHOTZ, MEISEL, FORMAN & LEONARD, P.A.
          500 Delaware Avenue Suite 1410
          Wilmington, DE 19801
          Tel: (302) 652-3131
          Fax: (302) 652-3117
          Email: npernick@coleschotz.com
                 nbrannick@coleschotz.com

Nortel Networks Inc. is represented by:

          Derek C. Abbott, Esq.
          Eric D. Schwartz, Esq.
          Tamara K. Minott, Esq.
          MORRIS, NICHOLS, ARSHT & TUNNELL LLP
          1201 North Market Street, 16th Floor
          Wilmington, DE 19899-1347
          Tel: (302) 658-9200
          Fax: (302) 658-3989
          Email: dabbott@mnat.com
                 eschwartz@mnat.com
                 tminott@mnat.com

Avaya Inc. is represented by:

          William D. Sullivan, Esq.
          Elihu Ezekiel Allinson, III, Esq.
          William Anthony Hazeltine, Esq.
          SULLIVAN, HAZELTINE ALLINSON LLC
          901 North Market Street, Suite 1300
          Wilmington, DE 19801
          Tel: (302) 428-8191
          Fax: (302) 428-8095
          Email: bsullivan@sha-llc.com
                 zallinson@sha-llc.com
                 whazeltine@sha-llc.com

            -- and --

          Barbra Parlin, Esq.
          Email: barbra.parlin@hklaw.com

            -- and --

          Benjamin M. Stern, Esq.
          Email: benjamin.stern@hklaw.com

            -- and --

          John J. Monaghan, Esq.
          Email: john.monaghan@hklaw.com

            -- and --

          Michael B. Eisenberg, Esq.
          Email: michael.eisenberg@hklaw.com


                    About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates commenced
a proceeding with the Ontario Superior Court of Justice under the
Companies' Creditors Arrangement Act (Canada) seeking relief from
their creditors.  Ernst & Young was appointed to serve as monitor
and foreign representative of the Canadian Nortel Group.  That same
day, the Monitor sought recognition of the CCAA Proceedings in U.S.
Bankruptcy Court (Bankr. D. Del. Case No. 09-10164) under Chapter
15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of NNI's
European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy Court
for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., and Howard S.
Zelbo, Esq., at Cleary Gottlieb Steen & Hamilton, LLP, in New York,
serve as the U.S. Debtors' general bankruptcy counsel; Derek C.
Abbott, Esq., at Morris Nichols Arsht & Tunnell LLP, in Wilmington,
serves as Delaware counsel.  The Chapter 11 Debtors' other
professionals are Lazard Freres & Co. LLC as financial advisors;
and Epiq Bankruptcy Solutions LLC as claims and notice agent.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors in respect of the U.S. Debtors.

An ad hoc group of bondholders also was organized.  An Official
Committee of Retired Employees and the Official Committee of
Long-Term Disability Participants tapped Alvarez & Marsal
Healthcare Industry Group as financial advisor.  The Retiree
Committee is represented by McCarter & English LLP as Delaware
counsel, and Togut Segal & Segal serves as the Retiree Committee.
The Committee retained Alvarez & Marsal Healthcare Industry Group
as financial advisor, and Kurtzman Carson Consultants LLC as its
communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

The trial on how to divide proceeds among creditors in the U.S.,
Canada, and Europe commenced on Sept. 22, 2014.  The question of
how to divide $7.3 billion raised in the international bankruptcy
of Nortel Networks Corp. was answered on May 12, 2015, by two
judges, one in the U.S. and one in Canada.

According to The Wall Street Journal, Justice Frank Newbould of the
Ontario Superior Court of Justice in Toronto and Judge Kevin Gross
of the U.S. Bankruptcy Court in Wilmington, Del., agreed on the
outcome: a modified pro rata split of the money.


NORTEL NETWORKS: UK Debtors' Bid to Stay SNMP Suit Denied
---------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware denied the joint administrators for Nortel Networks UK
Limited and its debtor affiliates' motion asking the Bankruptcy
Court (1) enforce the automatic stay to efforts by Nortel Networks,
Inc. and its U.S. affiliated entities to implead the EMEA Debtors
as third-party defendants in an adversary proceeding arising from
SNMP Research, Inc.'s software licensing, and (2) enjoin NNI and
SNMP and SNMP Research International, Inc., from prosecuting direct
or contribution claims in any court other than the English Court
where the EMEA administration is pending.

In his Opinion and Order dated September 15, 2015, available at
http://tinyurl.com/qda5ghzfrom Leagle.com, Judge Gross denied the
motion except the Bankruptcy Court will grant injunctive relief to
the EMEA Debtors against the bringing of prepetition claims outside
of the English Court.

The Chapter 15 case is captioned IN RE NORTEL NETWORKS UK LIMITED,
Case No. 09-11972(KG)(Bankr. D.Del.).

The Plaintiffs are represented by:

         Edwin J. Harron, Esq.
         Jaime Luton Chapman, Esq.
         YOUNG, CONAWAY, STARGATT & TAYLOR, LLP
         Rodney Square
         1000 North King Street
         Wilmington, DE 19801
         Tel: (302) 571-6600
         Fax: (302) 571-1253
         Email: eharron@ycst.com
                jchapman@ycst.com

            -- and --

         Andrew R. Remming
         MORRIS, NICHOLS, ARSHT & TUNNELL LLP
         1201 North Market Street, 16th Floor
         P.O. Box 1347
         Wilmington, DE 19899-1347
         Tel: (302) 351-9405
         Fax: (302) 425-3003
         Email: aremming@mnat.com

The Joint Administrators and Foreign Representatives for the
Foreign Debtor are represented by:

         Gabrielle Glemann, Esq.
         Charles H. Huberty, Esq.
         HUGHES HUBBARD & REED LLP
         One Battery Park Plaza
         New York, NY 10004-1482
         Tel: (212) 837-6000
         Fax: (212) 422-4726
         Email: gabrielle.glemann@hugheshubbard.com
                charles.huberty@hugheshubbard.com

            -- and --

         Jaime Luton Chapman, Esq.
         YOUNG CONAWAY STARGATT & TAYLOR, LLP
         Rodney Square
         1000 North King Street
         Wilmington, DE 19801
         Tel: (302) 571-6600
         Fax: (302) 571-1253

The Official Committee of Unsecured Creditors is represented by:

         L. Katherine Good, Esq.
         Christopher M. Samis, Esq.
         WHITEFORD TAYLOR & PRESTON LLC
         The Renaissance Centre, Suite 500
         405 North King Street
         Wilmington, DE 19801-3700
         Tel: (302) 353-4144
         Fax: (302) 661-7950
         Email: kgood@wtplaw.com
                csamis@wtplaw.com

                       About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates commenced
a proceeding with the Ontario Superior Court of Justice under the
Companies' Creditors Arrangement Act (Canada) seeking relief from
their creditors.  Ernst & Young was appointed to serve as monitor
and foreign representative of the Canadian Nortel Group.  That same
day, the Monitor sought recognition of the CCAA Proceedings in U.S.
Bankruptcy Court (Bankr. D. Del. Case No. 09-10164) under Chapter
15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of
NNI's European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy
Court for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., and Howard S.
Zelbo, Esq., at Cleary Gottlieb Steen & Hamilton, LLP, in New York,
serve as the U.S. Debtors' general bankruptcy counsel; Derek C.
Abbott, Esq., at Morris Nichols Arsht & Tunnell LLP, in Wilmington,
serves as Delaware counsel.  The Chapter 11 Debtors' other
professionals are Lazard Freres & Co. LLC as financial advisors;
and Epiq Bankruptcy Solutions LLC as claims and notice agent.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors in respect of the U.S. Debtors.

An ad hoc group of bondholders also was organized.  An Official
Committee of Retired Employees and the Official Committee of
Long-Term Disability Participants tapped Alvarez & Marsal
Healthcare Industry Group as financial advisor.  The Retiree
Committee is represented by McCarter & English LLP as Delaware
counsel, and Togut Segal & Segal serves as the Retiree Committee.
The Committee retained Alvarez & Marsal Healthcare Industry Group
as financial advisor, and Kurtzman Carson Consultants LLC as its
communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

The trial on how to divide proceeds among creditors in the U.S.,
Canada, and Europe commenced on Sept. 22, 2014.  The question of
how to divide $7.3 billion raised in the international bankruptcy
of Nortel Networks Corp. was answered on May 12, 2015, by two
judges, one in the U.S. and one in Canada.

According to The Wall Street Journal, Justice Frank Newbould of the
Ontario Superior Court of Justice in Toronto and Judge Kevin Gross
of the U.S. Bankruptcy Court in Wilmington, Del., agreed on the
outcome: a modified pro rata split of the money.


OLIN CORP: S&P Assigns 'BB+' Rating on Sr. Unsecured Term Loan
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB+' issue-level
rating and '4' recovery rating to Olin Corp.'s announced senior
unsecured term loan and senior unsecured notes.  The '4' recovery
rating indicates S&P's expectation of average recovery (lower end
of the 30% to 50% range) in the event of a payment default.
Subsidiary Blue Cube Spinco Inc. is issuing the senior unsecured
notes on behalf of Olin Corp.

The 'BB+' corporate credit rating and stable outlook on Olin Corp.
are unchanged.

The ratings on Olin reflect S&P's expectation that the transaction
with Dow is likely to close as currently proposed.  S&P's
assessment of the merged company's business risk profile is
"satisfactory" and its financial risk profile is "significant."

"We believe the addition of Dow's chlorine assets should improve
Olin's scale and diversity, especially with respect to building the
company's downstream chlorine business," said Standard & Poor's
credit analyst Brian Garcia.

Following the combination, Olin will deliver a significantly
greater proportion of its chlorine into more stable and profitable
downstream products rather than the volatile merchant market.
However, S&P believes the additional leverage required to fund this
transaction will offset the improvements to the business over the
next one to two years.  Nevertheless, S&P expects the combined
company to generate sufficient cash flows to reduce leverage over
time and maintain "strong" liquidity.

The stable outlook reflects S&P's expectation that the company will
benefit from the increased diversification that the acquisition
will bring to the business.  S&P expects leverage to increase
immediately following the transaction with debt/EBITDA of about 4x
and FFO/debt below 20% (both ratios are pro forma for the
acquisition).  After the transaction, S&P expects the company to be
able to generate sufficient free cash flow, which it expects them
to prioritize toward debt reduction.  S&P expects credit measures
to gradually improve, yet it expects FFO/debt to remain about 20%
on a weighted average basis for the next two years.

S&P could lower ratings if the company encounters difficulties
integrating the large acquisition and fails to achieve the majority
of synergies they have targeted.  Specifically, S&P could consider
a lower rating if the key ratio of FFO to debt drops to near 15%
(pro forma for the acquisition) on a weighted average basis.  S&P
could also consider a lower rating if the company does not maintain
financial policies that it considers appropriate to maintain the
current rating, including completing additional acquisitions or
large shareholder rewards.

Given that the company's credit measures will be on the weaker end
of the "significant" range following the transaction, credit
measures would have to improve significantly, with FFO/debt
reaching 30% on a weighted average basis.  For this reason, along
with the integration risks associated with the transaction, S&P
views an upgrade over the next year as unlikely.



OSSEN INNOVATION: Receives NASDAQ Listing Non-Compliance Notice
---------------------------------------------------------------
Ossen Innovation Co., Ltd., a China-based manufacturer of an array
of plain surface, rare earth and zinc coated pre-stressed steel
materials, on Sept. 21 disclosed that on September 17, 2015 the
Company received a letter from the NASDAQ Stock Market stating that
for the previous 30 consecutive business days, the closing bid
price of the Company's stock was below the minimum bid price of
$1.00 per share for continued listing on the NASDAQ Capital Market
pursuant to NASDAQ Marketplace Rule 5550(a)(2).  The NASDAQ letter
has no immediate effect on the listing of the Company's shares.

In accordance with NASDAQ Marketplace Rule 5810(c)(3)(A), the
Company has been provided with a period of 180 calendar days, or
until March 15, 2016, to regain compliance with the Minimum Bid
Price Rule.  If at any time during this 180-day period the closing
bid price of the Company's American Depositary Shares is at least
$1.00 for a minimum of ten consecutive days, NASDAQ will provide
written confirmation of compliance and matter will be closed.

The Company intends to evaluate available options to resolve the
deficiency and regain compliance with the Minimum Bid Price Rule.

                 About Ossen Innovation Co.

Ossen Innovation Co., Ltd. manufactures and sells a wide variety of
plain surface pre-stressed steel materials and rare earth coated
and zinc coated pre-stressed steel materials.  The Company's
products are mainly used in the construction of bridges, as well as
in highways and other infrastructure projects.  Ossen has two
manufacturing facilities located in Maanshan, Anhui Province, and
Jiujiang, Jiangxi Province.



PARAGON OFFSHORE: S&P Lowers CCR to 'CCC-', Outlook Negative
------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Paragon Offshore PLC to 'CCC-' from 'B'.  The outlook is
negative.  S&P also lowered the anchor score to 'b-' from 'b', and
revised the liquidity score to "weak" from "adequate."

At the same time, S&P lowered its issue-level rating on the
company's secured debt to 'CCC' from 'B+'.  The recovery rating on
the debt remains '2', indicating S&P's expectation of substantial
(70% to 90%, higher end of the range) recovery in the event of a
payment default.  S&P also lowered its issue-level rating on the
company's unsecured debt to 'C' from 'CCC+'.  The recovery rating
on the debt remains '6', indicating S&P's expectation of negligible
(0% to 10%) recovery in the event of a payment default.

"The downgrades follow Paragon's announcement that it has retained
Lazard Ltd and Weil, Gotshal & Manges LLP to explore restructuring
options, and the likelihood any restructuring of debt will be
viewed as selective default on the senior notes, which trade
substantially below par value," said Standard & Poor's credit
analyst Michael Tsai.  "In addition, we lowered the anchor rating
to 'b-' from 'b' to reflect our expectation that financial measures
will significantly weaken beyond 2015 due to persistent low crude
oil prices and weak market conditions in the offshore drilling
industry," said Mr. Tsai.

The negative outlook reflects the potential for a downgrade if the
company announced a distressed exchange or default on its debt, or
if it violated covenants under its revolving credit facility.

S&P could lower the rating if the company announced a distressed
exchange of its debt or if they violated covenants under their
revolving credit facility.

S&P could consider a positive rating action if it no longer
believed the company would consider a distressed exchange and
resolved the potential violation of its covenants.



PASADENA ADULT RESIDENTIAL: Ch. 11 Cases Reopened
-------------------------------------------------
Judge Robert Kwan of the United States Bankruptcy Court, C.D.
California, Los Angeles Division, in an order dated Aug. 28, 2015,
ordered that the Chapter 11 cases captioned In re: PASADENA ADULT
RESIDENTIAL CARE, INC., Chapter 11, Debtors, CORONA CARE
CONVALESCENT CORPORATION, CORONA CARE RETIREMENT, INC., Debtors and
Debtors-in-Pssession, Case No. 2:13-bk-28484-RK, Jointly
Administered with Case Nos. 2:13-bk-28497; 2:13-bk-28519-RK;
2:13-bk-28532-RK; 2:13-bk-28538-RK; 2:13-bk-28545-RK (Bankr. C.D.
Calif.), be reopened.

The order arises from the motion of the Official Committee of
Unsecured Creditors to revoke and/or vacate the dismissals of the
cases and to request the appointment of a Chapter 11 trustee.

Judge Kwan stated: "Although reserving ruling on the merits of the
motion, the court has reviewed the committee's moving papers and
determines that they raise a colorable claim for relief on the
circumstances described therein that justify reopening of the cases
for cause and hearing and determination of the motion on the
merits."

A full-text copy of Judge Kwan's Order is available at
http://tinyurl.com/q827e97from Leagle.com.

Pasadena Adult Residential Care, Inc, Debtor, is represented by:

         Hamid R Rafatjoo, Esq.
         VENABLE LLP
         2049 Century Park East
         Suite 2100
         Los Angeles, CA 90067
         Tel: (310) 229-9900
         Fax: (310) 229-9901
         Email: hrrafatjoo@Venable.com

United States Trustee (LA), U.S. Trustee, represented by Alvin Mar,
Jill Sturtevant.

Official Committee of Unsecured Creditors is represented by:

         Diane C Stanfield, Esq.
         ALSTON & BIRD LLP
         333 South Hope Street
         16th Floor
         Los Angeles, CA 90071-3004
         Tel: (213) 576-1000
         Fax: (213) 576-1100
         Email: diane.stanfield@alston.com

Pasadena Adult Residential Care Center, Inc., dba Pasadena
Residential Care Center, sought protection under Chapter 11 of the
Bankruptcy Code on July 22, 2013 (Bankr. C.D. Calif., Case No.
13-28484).  The cae is assigned to Judge Robert N. Kwan.


PATRIOT COAL: Files Modified Plan Based on Possible New Bidder
--------------------------------------------------------------
Michael Bathon, writing for Bloomberg News, reported that Patriot
Coal Corp. filed an amended restructuring plan that adds new
details to explain what would happen should another bidder step
forward to acquire assets that Blackhawk Mining LLC has already
offered to buy.

According to the report, the bankrupt miner said in court documents
filed on Sept. 18 that it's still in negotiations with a potential
new bidder to compete with Blackhawk.  The potential new deal would
be paid in cash, providing creditors with a payout, as opposed to
Blackhawk's offer, which would shift liabilities to the combined
new company, the Bloomberg report said, further citing the court
document.

                   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.


PHOENIX HELIPARTS: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Phoenix Heliparts Inc.
        3130 North Oakland, Suite #110
        Mesa, AZ 85215

Case No.: 15-12003

Chapter 11 Petition Date: September 18, 2015

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Hon. Daniel P. Collins

Debtor's Counsel: Michael W. Carmel, Esq.
                  MICHAEL W. CARMEL, LTD.
                  80 E. Columbus Ave
                  Phoenix, AZ 85012-4965
                  Tel: 602-264-4965
                  Fax: 602-277-0144
                  Email: michael@mcarmellaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Tina Cannon, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/azb15-12003.pdf


PHYSIO-CONTROL INT'L: Moody's Confirms B2 CFR, Outlook Negative
---------------------------------------------------------------
Moody's Investors Service confirmed Physio-Control International's
B2 Corporate Family Rating (CFR), B2-PD Probability of Default
Rating and its first-lien and second-lien bank debt at B1 and Caa1,
respectively.  Moody's also assigned a negative rating outlook.

The rating confirmation reflects Moody's expectation that
Physio-Control will reduce its leverage gradually over the next
12-18 months.  This will occur as the company achieves modest
EBITDA growth and generates positive free cash flow that will be
partially used for debt repayment.

The negative outlook is driven by the increased financial leverage
Physio will incur as it plans to acquire HeartSine Technologies
Inc., an Ireland-based manufacturer of Automatic External
Defibrillators ("AEDs") which it plans to largely fund using $63
million of incremental bank debt.  "Although this deal will
complement Physio-Control's existing AED product-line, the
incremental leverage is credit negative and comes on the heels of a
dividend recapitalization in May", said Daniel Goncalves, a Moody's
Assistant Vice President.  Moody's estimates leverage will increase
to 6.7 times from 6.1 times pro forma for the acquisition.  "We
expect that new products will continue to drive revenue growth in a
relatively mature external defibrillator market, while recurring
revenue from services and accessories provides earnings stability",
added Goncalves.

Moody's took these rating actions on Physio-Control:

Ratings confirmed:

  Corporate Family Rating at B2
  Probability of Default Rating at B2-PD
  Senior Secured 1st Lien Term Loan at B1 (LGD 3)
  Senior Secured 2nd Lien Term Loan at Caa1 (LGD 5)

The rating outlook is negative.

RATINGS RATIONALE

Physio-Control's leverage is high at over six times debt/EBITDA
following a large debt-financed dividend it made in May 2015, and
its B2 CFR reflects Moody's expectation that management will focus
on deleveraging.  Moody's views Physio-Control as weakly-positioned
in the B2 rating category even prior to the HeartSine deal.  This
transaction increases debt by $63 million and leverage by over
one-half turn, delaying the pace of deleveraging and placing
additional pressure on the ratings.

Given Physio-Control's weak position in its rating category, the
company needs to decisively reduce leverage to maintain its credit
ratings.  Moody's could downgrade the ratings if financial leverage
is sustained above 5.5 times, free cash flow remains negative or
liquidity weakens.  Increased regulatory scrutiny such as product
recalls or FDA warning letters or a significant disruption from the
FDA's implementation of a stricter pre-market approval regulatory
approval process could also lead Moody's to downgrade the ratings.

Ratings could be upgraded should sales and operating margins
improve, if Moody's believes debt to EBITDA will be sustained below
4.0 times, and free cash flow to debt remains above 10%.

The principal methodology used in these ratings was Global Medical
Product and Device Industry published in October 2012.

Physio-Control is a leading manufacturer and supplier of emergency
medical response products worldwide.  More than 80% of
Physio-Control's revenues are derived from the sale of manual
external defibrillators and related services and accessories,
namely batteries and electrodes.  The company is wholly owned by
Bain Capital.



PHYSIO-CONTROL INT'L: S&P Affirms 'B' Rating on 1st Lien Loan
-------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' rating on
U.S.-based defibrillator manufacturer Physio-Control International
Inc.'s first-lien term loan and its 'CCC+' rating on the
second-lien term loan.  The affirmation follows Physio-Control's
announcement that it plans to acquire HeartSine Technologies Inc.
and to add on $40 million to its first-lien term loan and add on
$23 million to its second-lien term to fund the acquisition.

The recovery rating on the $390 million first-lien term loan is
'3', indicating S&P's expectation for meaningful (50% to 70%, at
the higher end of the range) recovery in the event of a payment
default.  The '6' recovery rating on the $153 million second-lien
term loan indicates S&P's expectations for negligible (0% to 10%)
recovery in the event of a payment default.

S&P's corporate credit rating on Physio-Control is 'B' and the
outlook is stable.

S&P believes HeartSine will provide Physio with entry into
different segments of the automatic external defibrillator (AED)
market and broaden the company's product offerings and distribution
channels.  While this transaction modestly improves business risk,
this improvement is offset by weaker credit measures.  Moreover
given the modest size of this transaction relative to
Physio-Control, and S&P's expectation that the company would pursue
a modest level of tuck-in acquisitions, this transaction fits
broadly within S&P's prior expectations for the company.

S&P's 'B' corporate credit rating on Physio reflects S&P's
assessment of financial risk as "highly leveraged," which is based
on S&P's expectation that the company will sustain adjusted debt
leverage above 5x over the next few years.  S&P's assessment of a
"weak" business profile reflects the company's narrow business
focus, significant competition, modest levels of profitability, and
potential for some variability in demand driven by the economic
cycle and by potential extension of the equipment replacement cycle
at hospitals.  The business risk assessment also incorporates the
company's strong market share, the life-saving nature of the
company's products, and elements of revenue that are recurring and
sticky.

RECOVERY ANALYSIS

Key analytical factors:

   -- S&P reviewed its issue-level and recovery ratings on
      Redmond, Wash.-based Physio-Control's senior secured term
      loans, in connection with the add-on to the first- and
      second-lien term loan.

   -- Pro forma for the transaction, S&P expects Physio-Control's
      capital structure will consist of a $60 million asset-based
      loan (ABL) revolver, a $390 million first-lien term loan,
      and a $153 million second-lien term loan.

   -- S&P has valued the company on a going-concern basis using a
      5.0x multiple of its projected EBITDA at default.

   -- S&P estimates that, for the company to default, EBITDA would

      need to decline significantly, likely stemming from
      operational or regulatory issues leading to a decrease in
      sales and market share.

Simulated default assumptions

   -- Simulated year of default: 2018
   -- EBITDA at emergence: $61 mil.
   -- EBITDA multiple: 5.0x

Simplified waterfall

   -- Net EV (after 5% admin. costs): $290 mil.
   -- Valuation split in % (obligors/nonobligors): 80/20
   -- Priority claims: 37 (ABL revolver debt, assumed 65% drawn at

      default)
   -- Collateral and value available to first lien creditors:
      $232 mil.
   -- Secured first-lien debt: $405 mil.
      -- Recovery expectations: 50% to 70% (in the upper half of
      the range)
   -- Total value available to second-lien claims: $ 10 mil
   -- Secured second-lien debt: $162 mil.
      -- Recovery expectations: 0% to 10%

RATINGS LIST

Physio-Control International Inc.
Corporate Credit Rating               B/Stable/--

Ratings Affirmed; Recovery Ratings Unchanged

Physio-Control International Inc.
First-Lien Term Loan                  B
   Recovery Rating                     3H
Second-Lien Term Loan                 CCC+
   Recovery Rating                     6



PIPER AIRCRAFT: Plane Crash Victims May Pursue Claims vs. New Co.
-----------------------------------------------------------------
The United States Bankruptcy Court for the Southern District of
Florida confirmed a chapter 11 plan in Piper Aircraft Corporation's
case on July 11, 1995.  The Plan provided for the sale of
substantially all of the Debtor's assets to Piper Aircraft, Inc.
("New Piper").  The Plan included provisions protecting New Piper
from successor liability that it might otherwise have been
subjected to if sued by victims of post-confirmation crashes of
planes built by the old company ("Old Piper").  This protection was
accomplished by the creation and funding of the Piper Aircraft
Corporation Irrevocable Trust (the "Trust") and a channeling
injunction in the Plan that requires victims of post-confirmation
crashes to assert certain claims against the Trust, and not against
New Piper.  The requirement to assert claims against the Trust
applies to those claims that fall within the definition of a
"Future Claim," as that term is defined in the Trust documents and
the Plan.

The Trust and channeling injunction have worked effectively for
twenty years without the Bankruptcy Court's intervention.  However,
there is now a dispute over whether the claims asserted by the
victims of two plane crashes are Future Claims which must be
brought against the Trust or whether they are claims that may be
pursued against New Piper in state court lawsuits filed in Florida
and Pennsylvania.

U.S. Bankruptcy Judge Mark finds that the claims are not Future
Claims and may be pursued in the state court cases pending against
New Piper.  Accordingly, Judge Mark denied the motions to enforce
channeling injunction.

The case is In re: PIPER AIRCRAFT CORPORATION, Chapter 11, Debtor,
Case No. 91-31884-BKC-RAM (Bankr. S.D. Fla.).

A full-text copy of Judge Mark's order dated August 26, 2015, is
available at http://tinyurl.com/ofeeltkfrom Leagle.com.

Paul Steven Singerman, Esq. -- singerman@bergersingerman.com --
BERGER SINGERMAN LLP., Miami, FL., Counsel for the Trust.

Eric Pendergraft, Esq. -- ependergraft@sfl-pa.com -- SHRAIBERG,
FERRARA & LANDAU P.A., Boca Raton, FL., Counsel for New Piper.

Scott L. Baena, Esq. -- sbaena@bilzin.com -- BILZIN SUMBERG BAENA
PRICE & AXELROD LLP., Miami, FL., Counsel for the Amerosa
Plaintiffs.

Bradley J. Stoll, Esq. -- bstoll@airlaw.com -- THE WOLK LAW FIRM,
Philadelphia, PA., Counsel for the Amerosa Plaintiffs.

Paul Jon Layne, Esq. -- playne@silvasilva.com -- SILVA & SILVA,
P.A., Coral Gables, FL., Counsel for the Hendrickson Plaintiffs.

Floyd A. Wisner, Esq. -- faw@wisner-law.com -- WISNER LAW FIRM,
P.C., Geneva, IL., Counsel for the Hendrickson Plaintiffs.


PROSPECT HOLDING: S&P Removes 'B' ICR From CreditWatch Negative
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it removed its ratings
on Prospect Holding Co. LLC, including the 'B' issuer credit
rating, from CreditWatch, where it listed them on Aug. 18, with
negative implications.  S&P affirmed its 'B' issuer credit rating
on Prospect Holding Co. LLC.  The outlook on Prospect is negative.
S&P also revised its recovery rating on the firm's senior unsecured
notes to '3L' from '3H' and affirming S&P's 'B' issue-level debt
rating.

Prospect restated its first-quarter 2015 and 2014 annual financial
statements, primarily to correct accounting errors related to its
sales and valuation of its mortgage servicing rights (MSRs).  The
company also discovered and corrected errors relating to its
recognition of certain servicing fees and income on MSRs.  The
company stated it "has established enhanced processes and
procedures to ensure these specific MSR valuation and accounting
issues will not reoccur."

As a result of the error corrections, Prospect reduced its adjusted
total equity (ATE) to $66.3 million from $73.9 million, incurring a
$7.6 million charge.  The balancing adjustments to the financial
statements were a $2.4 million decrease in the valuation of the
firm's MSRs and a $4.7 million increase to accounts payable.  Other
assets also decreased by $0.5 million.

Net income of $14 million in the second quarter, however, mitigated
some of the damage of the error corrections.  Prospect ended the
quarter with $80.6 million of ATE and MSRs valued at $98.3 million.
The second quarter-end cash balance was $35.4 million, which is
well below the firm's target of $50 million to $60 million.  S&P
notes, however, that Prospect ended the quarter with$678 million of
mortgage loans held for sale funded by $611 million of warehouse
liabilities, which means there could be up to $67 million of
capitaltied up in origination activity.  Prospect's MSRs had a
market value of $98.3 million at the end of second-quarter 2015,
compared with $84.9 million in the previous quarter and $179
million a year earlier.

"Our negative outlook reflects the company's stressed but improving
earnings and equity position, in addition to uncertainty over the
efficacy of firm's shifting strategy," said Standard & Poor's
credit analyst Stephen Lynch.  Prospect shifted its strategy in
several ways since raising $150 million of unsecured senior notes
in September 2013.  For example, Prospect reported $22.5 million of
EBITDA in the first six months of 2015, compared with negative
EBITDA of $14.1 million for the same period in 2014. The
improvement in earnings can be attributed to expense management
initiatives aimed to lower the firm's cost to originate, higher
overall funded volume, and originating fewer loans through the
correspondent channel.  At the same time, however, ATE has declined
to $80.6 million from $94.3 million over the past 12 months,
primarily due to negative valuation adjustments on the firm's
MSRs.

The negative outlook on Prospect reflects Standard & Poor's
uncertainty over whether the firm can now generate positive and
consistent adjusted EBITDA after a year of cost-saving initiatives
and strategy changes.  Standard & Poor’s expects interest rates
to rise in 2015.  Since Prospect's origination activity is weighted
toward the purchase-money market, it should be less exposed to a
rising rate environment.

S&P could lower its rating on Prospect if the company is unable to
sustain its recent improvement in earnings, especially in lieu of
its recent cost-saving initiatives.  S&P could also lower the
rating if the company loses any of its key warehouse lending
relationships or if it is forced to sell significantly more MSRs
than it retains in order to generate liquidity.

An upgrade is unlikely over the next one to two years.  S&P could
raise the rating over time if the company significantly reduced its
leverage and decreased its earnings volatility without altering the
long-term prospects of its fundamental business model.



QUICKSILVER RESOURCES: Selling Energy Assets in Bankruptcy
----------------------------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review,
reported that Quicksilver Resources Inc. is throwing its
oil-and-gas assets on the bankruptcy auction block, restarting a
sale process that failed to produce a good offer last year.

According to the report, citing papers filed with the U.S.
Bankruptcy Court for the District of Delaware, after six months in
bankruptcy, Quicksilver is racing to get to a Dec. 9 auction of
everything it owns, without waiting to line up a stalking horse,
meaning a committed bidder, to set the floor price on offers.
Canadian assets that aren't involved in the bankruptcy also are
being put up for sale, the report related.

                        About Quicksilver

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

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

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

The Company's legal advisors are Akin Gump Strauss Hauer & Feld
LLP
in the U.S. and Bennett Jones in Canada.  Richards Layton &
Finger,
P.A., is legal co-counsel in the Chapter 11 cases.  Houlihan Lokey
Capital, Inc. is serving as financial advisor.  Garden City Group
Inc. is the claims and noticing agent.

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

The U.S. Trustee for Region 3 appointed five creditors of
Quicksilver Resources Inc. to serve on the official committee of
unsecured creditors.  The Committee is represented by Landis Rath
&
Cobb LLP's Richard S. Cobb, Esq., Matthew B. McGuire, Esq., and
Joseph D. Wright, Esq.; and Paul Weiss Rifkind Wharton & Garrison
LLP's Andrew N. Rosenberg, Esq., Elizabeth R. McColm, Esq., and
Adam M. Denhoff, Esq.

                           *     *     *

The Debtors have been given exclusive right to file a bankruptcy
plan through Oct. 13, 2015.


QUIKSILVER INC: Sept. 21 Meeting Set to Form Creditors' Panel
-------------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, was to hold
an organizational meeting on September 21, 2015, at 11:00 a.m. in
the bankruptcy case of Quiksilver, Inc., et al.

The meeting was to be held at:

         J. Caleb Boggs Federal Building
         844 King St., Room 2112
         Wilmington, DE 19801

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.



QUIZNOS: Former Executives Accused of Misleading Investors
----------------------------------------------------------
Matthew Perlman at Bankruptcy Law360 reported that a Colorado
federal judge on Sept. 17, 2015, tossed a suit accusing former
executives of bankrupt sandwich chain Quiznos of misleading
investors about the company's financials in order to land a 2012
restructuring deal with private equity funds, saying the deal
didn't constitute an investment contract.

The suit was brought by affiliates of  Avenue Capital Group LLC and
Fortress Investment Group LLC and alleged that Quiznos' top brass
misrepresented and artificially inflated the company's financial
data in order to get the private equity investors to restructure
debt.

                          About Quiznos

Denver-based Quiznos -- http://www.quiznos.com/-- is a chain    
designed for today's busy consumers who are looking for a high
quality, tasty, freshly prepared alternative to traditional fast-
food restaurants.  With locations in 50 states and 30 countries,
Quiznos is one of the world's premier quick-service restaurant
chains and pioneer of the toasted sandwich; Quiznos restaurants
offer creative, chef-created sandwiches and salads using premium
ingredients.  Quiznos was founded in 1981 by chefs who discovered
that toasting brought out the best in every sandwich ingredient.

QCE Finance LLC and its affiliates sought protection under Chapter
11 of the Bankruptcy Code on March 14, 2014.  The lead case is QCE
Finance LLC (Case No. 14-10543, Bankr. D.Del.).  The case is
assigned to Judge Peter J. Walsh.

The Debtors' lead counsel are Ira S. Dizengoff, Esq., Philip C.
Dublin, Esq., Jason P. Rubin, Esq., and Kristine G. Manoukian,
Esq., at AKIN GUMP STRAUSS HAUER & FELD LLP, in New York.  The
Debtors' local counsel is Mark D. Collins, Esq., and Amanda
Steele, Esq., at RICHARDS, LAYTON & FINGER, P.A., in Wilmington,
Delaware.  The Debtors' investment banker and financial advisor is
Matthew J. Hart of LAZARD FRERES & CO. LLC.  Paul Ruh, Mark A.
Roberts, and Jonathan Tibus of Alvarez & Marsal serves as the
Debtors' restructuring advisors.  Prime Clerk LLC serves as the
Debtors' claims and noticing agent.

The lead debtor, QCE Finance LLC, scheduled $737,000 in total
assets plus "undetermined amounts".  It scheduled $618 million
plus "undetermined amounts" as liabilities.

The U.S. Trustee has appointed a seven-member official committee
of unsecured creditors.  The Committee has tapped Cousins Chipman
& Brown LLP's Scott D. Cousins, Esq., and Ann Kashishian, Esq.;
and Otterbourg P.C.'s Scott L. Hazan, Esq., Jenette A. Barrow-
Bosshart, Esq., and David M. Posner, Esq., as counsel.

Avenue Capital Management II, L.P. and its affiliates are
represented by John J. Rapisardi, Esq., and Joseph Zujkowski,
Esq., at O'Melveny & Myers LLP in New York.  Fortress Investment
Group and its affiliates are represented by Skadden Arps Slate
Meagher & Flom's Van C. Durrer, Esq.  Co-counsel to the Consenting
First Lien Lenders are Milbank Tweed Hadley & McCloy's Thomas R.
Kreller, Esq., and David B. Zolkin, Esq., and Morris Nichols Arsht
& Tunnell's Robert J. Dehney.  Counsel to the First Lien Agent is
Ropes & Gray's Mark R. Somerstein.  Counsel to the Second Lien
Agent is Pillsbury Winthrop's Bart Pisella, Esq., and Timothy P.
Kober, Esq.  Counsel to Vectra Bank Colorado, National
Association, is Kasowitz Benson's Adam L. Shiff, Esq.

Quiznos' Plan of Reorganization was confirmed by the U.S.
Bankruptcy Court in Wilmington, Delaware on May 12, 2014.  The
company on July 1, 2014, disclosed that it has successfully
completed its financial restructuring and emerged from Chapter 11.


RADIOSHACK CORP: DIP, Cash Use Termination Date Tolled to Sept. 30
------------------------------------------------------------------
The  United States Bankruptcy Court for the District of Delaware,
at the behest of Radioshack Corporation, et al., and its
affiliates, approved a second amendment to the stipulation
extending the terms of the Final DIP Order and the Cash Collateral
Order to September 30, 2015.  

                  About RadioShack Corporation

Headquartered in Fort Worth, Texas, RadioShack is a retailer of
mobile technology products and services, as well as products
related to personal and home technology and power supply needs.
RadioShack's retail network includes more than 4,300
company-operated stores in the United States, 270 company-operated
stores in Mexico, and approximately 1,000 dealer and other outlets
worldwide.

RadioShack Corporation and affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 15-10197) on Feb. 5, 2015. Judge
Kevin J. Carey presides over the case.

David G. Heiman, Esq., Greg M. Gordon, Esq., Amanda M. Suzuki,
Esq., Jonathan M. Fisher, Esq., Thomas A. Howley, Esq., and Paul
M. Green, Esq., at Jones Day serve as the Debtors' bankruptcy
counsel.

David M. Fournier, Esq., Evelyn J. Meltzer, Esq., and John H.
Schanne, II, Esq., at Pepper Hamilton LLP serve as co-counsel.
Carlin Adrianopoli at FTI Consulting, Inc., is the Debtors'
restructuring advisor.  Maeva Group, LLC, is the Debtors'
Turnaround advisor. Lazard Freres & Co. LLC is the Debtors'
investment banker.  A&G Realty Partners is the Debtors' real
estate advisor.  Prime Clerk is the Debtors' claims and noticing
agent.

In their Petitions, the Debtors disclosed total assets of $1.2
billion, versus total debts of $1.3 billion.

Quinn Emanuel Urquhart & Sullivan, LLP and Cooley LLP represent
the Official Committee of Unsecured Creditors as co-counsel.
Houlihan Lokey Capital, Inc., serves as financial advisor and
investment banker.  The bankruptcy case is assigned to Judge
Brendan L. Shannon.

The First Amended Plan provides that the SCP Agent will recover an
estimated 80% to 90% of its allowed claim amount, estimated to
total $70 million.  General Unsecured Claims, estimated to total
$200 to $400 million, will receive a Pro Rata share, with Allowed
Claims in Classes 6 and 7, of the Remaining Liquidating Trust
Assets.

A blacklined version of the Disclosure Statement is available at
http://bankrupt.com/misc/RSIds0810.pdf


RADIOSHACK CORP: GC Class Rep Seeks Estimation of Claim
-------------------------------------------------------
Mark Haywood, on behalf of himself and a class of holders of
Radioshack Corp. gift cards, asks the United States Bankruptcy
Court for the District of Delaware to estimate and temporarily
allow his claim for plan confirmation purposes, including voting.

Mr. Haywood asks the Court to allow his claim as a class claim on
behalf of 2,885,076 class members representing $46,043,198 in total
indebtedness, all of which is entitled to priority in accordance
with Section 507(a)(7) of the Bankruptcy Code.

Mr. Haywood explains that the amount of the claim is uncertain due
to the unresolved class certification motion.  Based on the
information exchanged by the parties off the record, Mr. Haywood
believes that there are approximately 2,885,076 outstanding gift
cards, representing an aggregate value of $46,043,198 and that the
amount of his claim will be fixed before confirmation.  Mr. Haywood
asserts that his request is for plan confirmation purposes only,
including voting, and should not be construed as a request for a
final determination of his claim for any other purpose.

Mark Haywood is represented by:

          Adam Hiller, Esq.
          Brian Arban, Esq.
          Johnna Darby, Esq.
          1500 North French Street, 2nd Floor
          Wilmington, Delaware 19801
          Tel: (302) 442-7676
          Email: ahiller@hillerarban.com
                 barban@hillerarban.com

             -- and --

          Clinton A. Krislov, P.C., Esq.
          Kenneth T. Goldstein, P.C., Esq.
          KRISLOV & ASSOCIATES, LTD.
          20 North Wacker Drive, Suite 1300
          Chicago, IL 60606
          Tel: (312) 606-0500
          Email: clint@krislovlaw.com
                 Kenneth@krislovlaw.com

               About RadioShack Corporation

Headquartered in Fort Worth, Texas, RadioShack is a retailer of
mobile technology products and services, as well as products
related to personal and home technology and power supply needs.
RadioShack's retail network includes more than 4,300
company-operated stores in the United States, 270 company-operated
stores in Mexico, and approximately 1,000 dealer and other outlets
worldwide.

RadioShack Corporation and affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 15-10197) on Feb. 5, 2015. Judge
Kevin J. Carey presides over the case.

David G. Heiman, Esq., Greg M. Gordon, Esq., Amanda M. Suzuki,
Esq., Jonathan M. Fisher, Esq., Thomas A. Howley, Esq., and Paul
M. Green, Esq., at Jones Day serve as the Debtors' bankruptcy
counsel.

David M. Fournier, Esq., Evelyn J. Meltzer, Esq., and John H.
Schanne, II, Esq., at Pepper Hamilton LLP serve as co-counsel.
Carlin Adrianopoli at FTI Consulting, Inc., is the Debtors'
restructuring advisor.  Maeva Group, LLC, is the Debtors'
Turnaround advisor. Lazard Freres & Co. LLC is the Debtors'
investment banker.  A&G Realty Partners is the Debtors' real
estate advisor.  Prime Clerk is the Debtors' claims and noticing
agent.

In their Petitions, the Debtors disclosed total assets of $1.2
billion, versus total debts of $1.3 billion.

Quinn Emanuel Urquhart & Sullivan, LLP and Cooley LLP represent
the Official Committee of Unsecured Creditors as co-counsel.
Houlihan Lokey Capital, Inc., serves as financial advisor and
investment banker.  The bankruptcy case is assigned to Judge
Brendan L. Shannon.

The First Amended Plan provides that the SCP Agent will recover an
estimated 80% to 90% of its allowed claim amount, estimated to
total $70 million.  General Unsecured Claims, estimated to total
$200 to $400 million, will receive a Pro Rata share, with Allowed
Claims in Classes 6 and 7, of the Remaining Liquidating Trust
Assets.

A blacklined version of the Disclosure Statement is available at
http://bankrupt.com/misc/RSIds0810.pdf  


RADIOSHACK CORP: Gift Card Holders Object to Proposed Settlement
----------------------------------------------------------------
Mark Haywood, on behalf of himself and a purported class of
Radioshack Corp. gift card holders, opposes the proposed settlement
resolving disputes related to unused gift cards.

Mr. Haywood complains that the term sheet of the settlement could
include additional or different provisions that may provide more
favorable treatment to gift card holders, and suggested that more
extensive notice should be provided.

The States of New Hampshire and Texas filed separate statements in
support of the proposed settlement.  The State of New Hampshire
states that it believes the settlement represents a fair and
equitable resolution in favor of those consumer creditors of RS
Legacy Corporation who hold purchased unredeemed gift cards and
urged the Court to approve the Motion.  The State of Texas says the
parties to the settlement have engaged in extensive discussions
aimed at refining the agreements reached in the Term Sheet filed
with the 9019 motion, including but not limited to issues
pertaining to notice to holders of unredeemed gift cards.  Those
discussions have included representatives from many other states'
Attorneys General, the State of Texas asserts.

The Debtors, in response to the Class Representatives' objection,
maintain that the parties to the settlement engaged in arm's
length, good faith discussions regarding the form and manner of
notice to be given to gift card holders.  As a result of those
discussions, the Parties have reached an agreement.  As the Debtors
have repeatedly advised Haywood's counsel, the costs of notice and
administering claims will be borne by the Liquidating Trust and
will not reduce the $500,000 reserve, the Debtors tell the Court.
Moreover, the notice plan is will have a broad reach; the digital
notice program alone is targeted to reach over 31 million
individuals, the Debtors point out.  The proposed plan will reach a
significant number of gift card holders in a number of different
ways, while balancing the cost of such plan, the Debtors assert.

The Debtors are represented by:

          Michael A. Condyles, Esq.
          Peter J. Barrett, Esq.  
          Jeremy S. Williams, Esq.  
          KUTAK ROCK LLP
          Bank of America Center
          1111 East Main Street, Suite 800
          Richmond, Virginia 23219-3500
          Tel: (804) 644-1700
          Fax: (804) 783-6192
          Email: Michael.Condyles@kutakrock.com
                 Peter.Barrett@kutakrock.com
                 Jeremy.Williams@kutakrock.com

             -- and --

          Stephen E. Hessler,P.C., Esq.  
          Patrick Evans,P.C., Esq.  
          KIRKLAND & ELLIS LLP
          601 Lexington Avenue
          New York, New York 10022
          Tel: (212) 446-4800
          Fax: (212) 446-4900
          Email: stephen.hessler@kirkland.com
                 Patrick.Evans@kirkland.com

             -- and --

          James H.M. Sprayregen,P.C., Esq.  
          Ross M. Kwasteniet,P.C., Esq.  
          Justin R. Bernbrock,P.C., Esq.  
          KIRKLAND & ELLIS LLP
          300 North LaSalle
          Chicago, Illinois 60654
          Tel: (312) 862-2000
          Fax: (312) 862-2200
          Email: James.Sprayregen@kirkland.com
                 Ross.Kwasteniet@kirkland.com
                 Justin.Bernbrock@kirkland.com

Mark Haywood is represented by:

          Adam Hiller, Esq.
          Brian Arban, Esq.
          Johnna Darby, Esq.
          1500 North French Street, 2nd Floor
          Wilmington, Delaware 19801
          Tel: (302) 442-7676
          Email: ahiller@hillerarban.com
                 barban@hillerarban.com

             -- and --

          Clinton A. Krislov, P.C., Esq.
          Kenneth T. Goldstein, P.C., Esq.
          KRISLOV & ASSOCIATES, LTD.
          20 North Wacker Drive, Suite 1300
          Chicago, IL 60606
          Tel: (312) 606-0500
          Email: clint@krislovlaw.com
                 Kenneth@krislovlaw.com

The State of New Hampshire is represented by:

          Peter C.L. Roth, Esq.
          SENIOR ASSISTANT ATTORNEY GENERAL
          33 Capitol Street
          Concord, New Hampshire 03301
          Tel: (603) 271-3679
          Email: peter.roth@doj.nh.gov

The State of Texas is represented by:

          Hal F. Morris
          Ashley F. Bartram
          Charlie Shelton
          ChristopheR S. Murphy
          ASSISTANT ATTORNEY GENERAL CHIEF, BANKRUPTCY &
          COLLECTIONS DIVISION   
          P.O. Box 12548
          Austin, Texas 78711-2548
          Tel: (512) 475-4550
          Email: hal.morris@texasattorneygeneral.gov
                 ashley.bartram@texasattorneygeneral.gov
                 charlie.shelton@texasattorneygeneral.gov
                 christopher.murphy@texasattorneygeneral.gov

                 About RadioShack Corporation

Headquartered in Fort Worth, Texas, RadioShack is a retailer of
mobile technology products and services, as well as products
related to personal and home technology and power supply needs.
RadioShack's retail network includes more than 4,300
company-operated stores in the United States, 270 company-operated
stores in Mexico, and approximately 1,000 dealer and other outlets
worldwide.

RadioShack Corporation and affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 15-10197) on Feb. 5, 2015. Judge
Kevin J. Carey presides over the case.

David G. Heiman, Esq., Greg M. Gordon, Esq., Amanda M. Suzuki,
Esq., Jonathan M. Fisher, Esq., Thomas A. Howley, Esq., and Paul
M. Green, Esq., at Jones Day serve as the Debtors' bankruptcy
counsel.

David M. Fournier, Esq., Evelyn J. Meltzer, Esq., and John H.
Schanne, II, Esq., at Pepper Hamilton LLP serve as co-counsel.
Carlin Adrianopoli at FTI Consulting, Inc., is the Debtors'
restructuring advisor.  Maeva Group, LLC, is the Debtors'
Turnaround advisor. Lazard Freres & Co. LLC is the Debtors'
investment banker.  A&G Realty Partners is the Debtors' real
estate advisor.  Prime Clerk is the Debtors' claims and noticing
agent.

In their Petitions, the Debtors disclosed total assets of $1.2
billion, versus total debts of $1.3 billion.

Quinn Emanuel Urquhart & Sullivan, LLP and Cooley LLP represent
the Official Committee of Unsecured Creditors as co-counsel.
Houlihan Lokey Capital, Inc., serves as financial advisor and
investment banker.  The bankruptcy case is assigned to Judge
Brendan L. Shannon.

The First Amended Plan provides that the SCP Agent will recover an
estimated 80% to 90% of its allowed claim amount, estimated to
total $70 million.  General Unsecured Claims, estimated to total
$200 to $400 million, will receive a Pro Rata share, with Allowed
Claims in Classes 6 and 7, of the Remaining Liquidating Trust
Assets.

A blacklined version of the Disclosure Statement is available at
http://bankrupt.com/misc/RSIds0810.pdf


RKI EXPLORATION: S&P Raises CCR to 'BB' Then Withdraws Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on RKI Exploration & Production LLC to 'BB' from 'B' and its
senior unsecured debt rating to 'BB-' from 'B-'.  This action
followed the completion of WPX's acquisition of RKI in August 2015
and the full redemption of RKI's bonds on Sept. 16, 2015.  S&P also
removed all ratings from CreditWatch, where it placed them with
positive implications on July 14, 2015.

S&P subsequently withdrew its ratings on RKI at the company's
request.

The rating action reflects the closing of WPX's acquisition of RKI
for a total value of $2.75 billion.  S&P believes that RKI's assets
play a pivotal role in WPX's strategy to grow its crude oil
production.  Therefore, S&P assess RKI as a "core" subsidiary of
WPX, as defined under S&P's group rating methodology, and have
equalized its ratings on RKI to those of WPX.

WPX financed the transaction with a combination of senior unsecured
debt, common stock, mandatory preferred stock, and cash on hand.
As part of the transaction, WPX refinanced RKI's debt and RKI's
bonds were fully redeemed on Sept. 16, 2015.



SAMSON RESOURCES: Bankruptcy Wipes Out Unsec. Holders, Fitch Says
-----------------------------------------------------------------
Samson Resources is the latest in the parade of leveraged
exploration and production (E&P) companies unable to overcome
challenges from the weak natural gas and oil pricing without
restructuring, according to Fitch Ratings.  The bankruptcy filing
is aimed at reducing net debt that totaled approximately $4 billion
at March 31.  The capital structure became unsustainable relative
to cash flows in the face of the significant drop in commodity
prices.

Samson's filing drives Fitch's trailing 12-month (TTM) high-yield
bond default rate for the energy sector to nearly 5% and the E&P
subsector to 8.5%, assuming no additional defaults this month.  The
bankruptcy comes on the heels of Hercules Offshore's filing ($1.2
billion of outstanding bonds) on Aug. 13.  There have been six
energy defaults in the past six weeks, including second distressed
debt exchanges for SandRidge Energy and Halcon Resources.  The
total TTM E&P sector default volume was
$10.4 billion, more than the annual amount tallied during each of
the past five years, according to Fitch Ratings High Yield Default
Index.

The pre-arranged bankruptcy filing was the next step in Samson's
restructuring after gaining support for a proposed restructuring
plan from more than 68% of second lien lenders.  The plan
contemplates a debt-to-equity conversion of the second lien loan.

The restructuring would significantly deleverage Samson's balance
sheet and provide the company with at least $450 million of new
capital.  Rights offerings will be made to existing second lien
lenders and backstop parties to raise $125 million of new second
lien debt and $350 million of new common stock.  The second lien
lenders and backstop parties will gain control of the new common
equity.  The $1 billion second lien loan was trading at $0.275 on
the dollar as of Sept. 16, which provides an indicator of rough
recovery value.

The disclosure statement indicates an estimated mid-point
enterprise value of $1.3 bil.  First lien asset-based lender (ABL)
claims estimated at $942 million would receive 100% recovery under
the proposed plan in a combination of cash and a new exit ABL
facility of up to $750 million (with an initial borrowing base of
$650 million).

Recovery on the $2.25 billion of unsecured bonds at the bottom of
the capital stack would be considerably worse than the second lien
debt.  Unsecured debtholders and other unsecured claims would
receive 1% of the new common stock in distributions if they vote to
accept the plan, essentially wiping out their investment.  The
unsecured bonds were bid at $0.00375 on the dollar on Wednesday,
indicating that poor unsecured debt recovery was widely expected in
the high-yield market.

Samson is a fracking company that primarily produces natural gas
plus some oil.  The balance sheet became leveraged at the time of
acquisition by a consortium of private equity investors led by KKR
in 2011.  Natural gas prices have been depressed for years as a
result of strong shale gas production.  The plunge in oil prices
beginning in late 2014 compounded challenges.  Management has been
pursuing operational restructuring efforts including laying off 30%
of the workforce, cutting capex and selling assets to improve
negative cash flows while negotiating with creditors on the plan.



SOPHIA LP: S&P Lowers Rating on Senior Secured Loan Due 2022 to 'B'
-------------------------------------------------------------------
Standard & Poor's Ratings Services revised its recovery rating on
Fairfax, Va.-based Sophia L.P.'s senior secured term loan due 2022
to '3', indicating S&P's expectation for meaningful (50%-70%, upper
half of the range) recovery in the event of a default, from '2'.
S&P subsequently lowered its issue-level rating on the debt to 'B'
from 'B+', in accordance with its notching criteria.  The rating
action follows the company's proposal to upsize the term loan to
$1.56 billion from $1.46 billion while simultaneously downsizing
the unsecured notes due 2023 to $490 million from $590 million.

The upsizing does not affect S&P's view of the corporate credit
rating, negative outlook, or the issue-level rating on the
unsecured notes.

RATINGS LIST

Sophia L.P.
Corporate Credit Rating                  B/Negative/--

Downgraded; Recovery Rating Revised
                                         To            From
Sophia L.P.
$1.56 bil sr sec ln due 2022*            B             B+
Recovery Rating                         3H            2L

Rating Unchanged

Sophia L.P.
$490 mil sr unsec nts due 2023**        CCC+
Recovery Rating                         6

*Following $100 million upsizing.
**Following $100 million downsizing.



STEREOTAXIS INC: Sept. 15 Set as Ex-Warrants Date for Offering
--------------------------------------------------------------
Stereotaxis, Inc., anounced that the NASDAQ Capital Market has
established Sept. 15, 2015, as the "ex-warrants" date for its
warrants offering.  Pursuant to the warrants offering, all
stockholders and certain warrant holders of Stereotaxis, Inc.,
received one subscription warrant to purchase one share of common
stock at a price of $1.10 per share for every four common shares
held.  The subscription warrants are transferable, are listed on
the NASDAQ Capital Market under the symbol "STXSW," and will
continue to be so listed until the expiration of the warrants
offering.

The ex-warrants date is the date on which Stereotaxis' common stock
began to trade without the warrants and the warrants began to trade
separately from the common stock.  The subscription warrants will
be exercisable until 5:00 p.m. New York City time, on Sept. 30,
2015.  Stereotaxis may, subject to certain limitations, extend the
warrants offering, but does not currently intend to do so.

Holders of Stereotaxis' shares who hold their shares in "street
name" at a brokerage firm, bank or similar organization, like the
vast majority of Stereotaxis stockholders, may direct any questions
about the warrants offering to the broker or bank at the number
identified in the offering materials mailed to the holders.
Stockholders who hold their shares directly may contact the
warrants agent, Broadridge Corporate Issuer Solutions, Inc., at
(855) 300-4994.

                         About Stereotaxis

Based in St. Louis, Missouri, Stereotaxis, Inc., is a manufacturer
and developer of a suite of navigation systems in interventional
surgical procedures.  The Company's Epoch Solution is used in the
treatment of arrhythmias and coronary artery disease.

Stereotaxis reported a net loss of $5.20 million in 2014, a net
loss of $68.8 million in 2013 and a net loss of $9.23 million in
2012.

As of June 30, 2015, the Company had $19.9 million in total assets,
$35.8 million in total liabilities and a $15.8 million total
stockholders' deficit.

Ernst & Young LLP, in St. Louis, Missouri, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has incurred recurring
operating losses and has a net capital deficiency.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


SUN KYUM CHA: Judgment Favoring BB&T Affirmed
---------------------------------------------
The Court of Appeals of Texas, Fifth District, Dallas, in an
opinion dated Aug. 25, 2015, affirmed a trial court's judgment in
favor of Branch Banking and Trust Company, as successor-in-interest
to Colonial Bank N.A., lender to Debtors Sun Kyum Cha a/k/a Stephen
Cha and Hun Kyu Lee, M.D.

Cha and Lee brought six issues contending the trial court erred in
granting judgment in favor of BB&T because (1) the summary judgment
evidence did not establish that BB&T was the owner or holder of the
note, (2) the loan accounting information submitted by BB&T was
incomplete, and (3) appellants did not waive their right to a fair
market value offset on the deficiency.

Because the appellants failed to submit any competent summary
judgment evidence of the fair market value of the property at the
time of foreclosure, the Texas Court of Appeals concluded the trial
court did not err by granting summary judgment on the full amount
of the deficiency.

The case is SUN KYUM CHA A/K/A STEPHEN CHA AND HUN KYU LEE, M.D.,
Appellants, v. BRANCH BANKING AND TRUST COMPANY, Appellee, NO.
05-14-00926-CV (Tex. App.).  A full-text copy of the Texas Court of
Appeals' Decision is available at http://tinyurl.com/oum2hucfrom
Leagle.com.


TOWN MASONRY: Court Finds No Fiduciary Breach by LaSala Defendants
------------------------------------------------------------------
Judge John Gleeson of the United States District Court for the
Eastern District of New York found in favor of defendants Kenneth
LaSala Sr., Mark LaSala, and Kenneth LaSala Jr., with respect to
the third claim for relief filed against them by plaintiffs
Bricklayers Local 1, International Union of Bricklayers & Allied
Craftworkers and several employee-benefit funds.

The plaintiffs commenced a suit claiming that the LaSala
Defendants, who are the sole officers and shareholders of two
masonry subcontractors: Town Masonry Corp. and New Town Corp.,
breached their fiduciary duty under the Employee Retirement Income
Security Act of 1974 ("ERISA"), and committed conversion under New
York law by failing to remit employee union dues.

On February 18, 2015, Judge Gleeson granted summary judgment in
favor of the plaintiffs with respect to their first, second, and
fourth claims, but denied the motion with respect to their third
claim for relief.  A bench trial was conducted on May 12, 2015 in
connection with the plaintiffs' third claim for relief against the
LaSala defendants, which alleged fiduciary breaches involving an
amended payment agreement ("APA").

Judge Gleeson found that Mark and Ken Jr. are not fiduciaries of
the employee-benefit funds.  The judge explained that although Mark
and Ken Jr. are shareholders and officers of Town and New Town,
there was no evidence that they had any trustee relationship with
the employee-benefit funds, or any discretionary authority or
control respecting the management of these various plans.  Judge
Gleeson also noted that "unpaid contributions are not assets of the
plan" as employer contributions become assets only after being
paid.

Judge Gleeson likewise did not find that Ken Sr. violated any
fiduciary duty by failing to pay $1.5M out of his personal assets
to satisfy Town and New Town's debts to the funds.  The judge
concluded that Ken Sr. did not make his conditional promise to
personally pay for the debts of Town and New Town in his capacity
as trustee for the funds, but rather as a representative of Town
and New Town.

The case is BRICKLAYERS INSURANCE AND WELFARE FUND, BRICKLAYERS
PENSION FUND, BRICKLAYERS SUPPLEMENTAL ANNUITY FUND, BRICKLAYERS
AND TROWEL TRADES INTERNATIONAL PENSION FUND, NEW YORK CITY AND
LONG ISLAND JOINT APPRENTICESHIP AND TRAINING FUND, INTERNATIONAL
MASONRY INSTITUTE and JEREMIAH SULLIVAN, JR., in his fiduciary
capacity as Administrator, and BRICKLAYERS LOCAL 1, INTERNATIONAL
UNION OF BRICKLAYERS AND ALLIED CRAFT WORKERS, Plaintiffs, v.
KENNETH LaSALA, MARK LaSALA, KENNETH LaSALA, JR., LIBERTY MUTUAL
INSURANCE COMPANY, and PLAZA CONSTRUCTION COMPANY, Defendants, NO.
12-CV-2314 (JG)(RLM) (E.D.N.Y.).

A full-text copy of Judge Gleeson's August 24, 2015 findings of
fact and conclusions of law is available at http://is.gd/0B3MfS
from Leagle.com.

Plaintiffs are represented by:

          James I. Wasserman, Esq.
          John F. Kaley, Esq.
          DOAR RIECK KALEY & MACK
          217 Broadway, Suite 707
          New York, NY 10007
          Tel: (212) 619-3730
          Fax: (212) 962-5037
          Email: jwasserman@doarlaw.com
                 jkaley@doarlaw.com

LaSala Defendants are represented by:

          Lawrence J. Leibowitz, Esq.
          BALLON STOLL BADER & NADLER, P.C.
          729 Seventh Avenue, 17th Floor
          New York, NY 10019
          Tel: (212) 575-7900
          Fax: (212) 764-5060
          Email: llebowitz@ballonstoll.com

Plaintiff Plaza Construction LLC, successor by merger to Plaza
Construction Corp. is represented by:

          Robert J. Costello, Esq.
          Steven I. Tolman, Esq.
          Alan Levy, Esq.
          LEVY, TOLMAN & COSTELLO, LLP
          630 Third Avenue
          New York, NY 10017
          Tel: (212) 949-8770
          Fax: (212) 661-9491
          Email: rjcostello@levytolman.com
                 stolman@levytolman.com
                 alevy@levytolman.com


TRANS-LUX CORP: Announces Terms for Rights Offering
---------------------------------------------------
Trans-Lux Corporation announced the terms for its rights offering
to holders of shares of its common stock.

Upon commencement of the rights offering on or about Oct. 1, 2015,
Trans-Lux plans to distribute one non-transferable subscription
right to purchase shares of a new class of Series B Convertible
Preferred Stock for each share of Trans-Lux's common stock owned at
5:00 p.m., Eastern Time, on Sept. 28, 2015, the record date for the
rights offering.  Thirty-three subscription rights will entitle the
holder to purchase one share of Series B Convertible Preferred
Stock at a subscription price of $200.00 per share, with the
subscription period expiring at 5:00 p.m., Eastern Time, on Oct.
21, 2015, unless extended.  The rights offering also will include
an over-subscription right, which will entitle each rights holder
that exercises its basic subscription rights in full to purchase
additional shares of Series B Convertible Preferred Stock that
remain unsubscribed at the expiration of the rights offering,
subject to certain limitations.

If all of the subscription rights are exercised and all the shares
of Series B Convertible Preferred Stock offered are sold, the gross
proceeds from the rights offering will be approximately $10.2
million.  Trans-Lux intends to use the net proceeds from the rights
offering for the repayment of certain debt and for payment of
certain required contributions under its defined benefit pension
plan, with the remainder to be used for general corporate
purposes.

The Series B Convertible Preferred Stock carries a 6.0% cumulative
annual dividend and will be convertible into shares of common stock
at an initial conversion price of $10.00 per share, representing a
conversion ratio of 20 shares of common stock for each share of
Series B Convertible Preferred Stock held at the time of
conversion, subject to adjustment.  The shares of Series B
Convertible Preferred Stock may be subject to mandatory conversion
after three years, or as early as one year if the closing sale
price of the common stock has been greater than or equal to $15.00
for 30 consecutive trading days.

                    About Trans-Lux Corporation

Norwalk, Conn.-based Trans-Lux Corporation (NYSE Amex: TLX) is a
designer and manufacturer of digital signage display solutions for
the financial, sports and entertainment, gaming and leasing
markets.

Trans-Lux Corporation incurred a net loss of $4.62 million on $24.4
million of total revenues for the year ended Dec. 31, 2014,
compared with a net loss of $1.86 million on $20.9 million of total
revenues for the year ended Dec. 31, 2013.

As of June 30, 2015, the Company had $15 million in total assets,
$18.3 million in total liabilities and a $3.2 million total
stockholders' deficit.

BDO USA, LLP, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that the Company has suffered recurring losses from
operations and has a significant working capital deficiency that
raise substantial doubt about its ability to continue as a going
concern.  Further, the auditors said, the Company is in default of
the indenture agreements governing its outstanding 9-1/2%
Subordinated debentures which were due in 2012 and its 8-1/4%
Limited convertible senior subordinated notes which were due in
2012 so that the trustees or holders of 25% of the outstanding
Debentures and Notes have the right to demand payment immediately.
Additionally, the Company has a significant amount due to their
pension plan over the next 12 months.


TRIKONA ADVISERS: Interlocutory Judgment on Haida Suit Affirmed
---------------------------------------------------------------
The Supreme Court of Connecticut affirmed a trial court's
interlocutory order in the case captioned TRIKONA ADVISERS LIMITED
v. HAIDA INVESTMENTS LIMITED ET AL No. (SC 19439)(Conn.).

The action arises out of a dispute over the control and ownership
of 500 shares of stock in Trikona Advisers Limited, an investment
advisory corporation specializing in Indian real estate, which is
incorporated in the Cayman Islands.  Asia Pacific Ventures Limited
and Vera Financial Corporation brought an interpleader action to
determine ownership of the shares.

In its opinion dated September 1, 2015 available at
http://tinyurl.com/odm7x7w,the Connecticut Supreme Court affirmed
the trial court's interlocutory judgment of interpleader after
concluding that Haida has established aggrievement and that the
trial court properly rendered an interlocutory judgment of
interpleader because Asia Pacific and Vera Financial alleged facts
sufficient to establish that Haida has a claim to the shares and
that there are facially competing claims to the shares.

The Plaintiffs are represented by Michael C. Gilleran, Esq.,
Christopher L. Ayers, Esq., and Robert D. Laurie, Esq., and Shrina
B. Faldu, Esq.

The Defendants are represented by John G. Balestriere, Esq.,
Jillian L. McNeil, Esq., Stefan Savic, Esq., and James T. Shearin,
Esq.


TS EMPLOYMENT: TSE, CRS, Wells Fargo Ink Deal on Santander Funds
----------------------------------------------------------------
James S. Feltman, Chapter 11 Trustee of the estate of TS
Employment, Inc. ("TSE"), Wells Fargo Bank, National Association
and Corporate Resource Services, Inc., and certain of its
subsidiaries ("CRS") submitted a stipulation to the U.S. Bankruptcy
Court for the Southern District of New York regarding the release
of funds at Santander Bank.

TSE provides payroll and other administrative services for its
affiliates, CRS, including administering the payment of wages,
payroll taxes, healthcare expenses and other associated costs (the
"Payroll Obligations").

Wells Fargo, Sterling National Bank (together, the "Lenders") and
CRS are party to an $80 million account purchase agreement (the
"CRS Loan Facility"), pursuant to which the Lenders advance funds
to CRS for operations, which in turn advances funds to the Debtor
to satisfy the Payroll Obligations.

on May 13, 2015, CRS and Wells Fargo filed the Joint Application of
Corporate Resource Services, Inc., and Certain of its Subsidiaries
and Wells Fargo Bank, National Association, for an Order Enforcing
Final Stipulation and Order and for Approval of Funding
Arrangements Between the Trustee, Wells Fargo Bank, National
Association, Sterling National Bank and Corporate Resource
Services, Inc.(the "Joint Motion") alleging that:

     (i) the funds in the account at Santander Bank in the name of
TSE, which amounts total approximately $1,277,857 (the "Santander
Funds") should be returned to CRS and Wells Fargo; and

    (ii) that the Debtor is liable to Wells Fargo arising from
overdrafts and future overdrafts resulting from checks that have
been issued but not yet drawn on separate accounts maintained by
the Debtor at Wells Fargo, which are also used in connection with
the processing of the payroll obligations of CRS (including all TSE
Wells Fargo bank accounts, the "TSE Wells Accounts").

Wells Fargo and CRS represent:

     (i) the current balance of the TSE Wells Accounts, including
overdrafts, charges and fees related thereto, is approximately
-$825,785 (the "Overdraft Balance");

     (ii) all principal and interest on principal, in each case on
account of account purchase advances and/or loans made by Wells
Fargo to CRS has been repaid; however, amounts remain owing by CRS
to Wells Fargo under the CRS Loan Facility, and additional amounts
may become owing by CRS to Wells Fargo, on account of account
charges, legal fees and expenses, consultant fees and expenses,
overdraft balances, and other amounts for which CRS has agreed to
pay or reimburse Wells Fargo pursuant to the CRS Loan Facility, and
on account of certain indemnification obligations of CRS to Wells
Fargo; and

     (iii) the balance of CRS's accounts receivable exceeds $5
million.

The Parties assert that the relief granted in the Stipulation is
necessary, essential, appropriate and is in the best interests of
the Debtor's estate and its creditors.

The Stipulation provides, among others:

     (1) On the Effective Date, the Joint Motion shall be deemed
withdrawn (without prejudice).

     (2) Upon the Effective Date, the Trustee is entitled to use
$1,000,000 of the Santander Funds to immediately fund the TSE
Advance, and the obligation of Lenders and CRS to fund the TSE
Advance shall be deemed satisfied in accordance with paragraph
3(b)(i) of the Final Stipulation and Order; provided, however, that
this paragraph 3 shall not be deemed a waiver of any right, claim
or defense of the Parties with respect to the TSE Advance, except
that the Trustee and the Debtor may not, after receiving the TSE
Advance, assert that Lenders or CRS have an obligation to fund the
TSE Advance.

     (3) Upon the Effective Date, (a) $34,000 of the remainder of
the Santander Funds shall remain in the Santander Account and be
applied only against checks issued by the Debtor against the
Santander Account prior to April 30, 2015, and, to the extent any
portion of such amount remains unapplied as of the close of
business on July 31, 2015, such unapplied portion shall be returned
to Wells Fargo within five (5) business days for application to
obligations of CRS to Wells Fargo; provided, however, CRS and Wells
Fargo shall remain obligated to the Trustee to fund any reasonable
and substantiated payroll or payroll-related obligations, including
the out-of-pocket cost of payroll tax returns, SUTA and W-2s
associated with payroll activities occurring through April 30, 2015
that were directed by CRS and/or RSI; (b) $66,000 of the remainder
of the Santander Funds shall be deemed property of the Debtor's
estate and may be utilized by the Trustee for administration of the
estate or any other purpose permitted by the Court, and (c) the
balance of the Santander Funds, equal to $177,857 shall be returned
to Wells Fargo in full satisfaction and settlement of any
obligation of the Trustee and/or the estate to satisfy the
Overdraft Balance including overdraft or fees that exist today or
in the future.

     (4) Within seven business days after the Effective Date, Wells
Fargo will provide a written accounting to the Trustee of (i) all
amounts collected postpetition under the CRS Loan Facility, (ii)
all amounts advanced, charged or reserved post-petition under the
CRS Loan Facility, and (iii) a summary of any amounts owed to Wells
Fargo, or estimated to be owed to Wells Fargo, or claimed by Wells
Fargo, which have not yet been paid.

James S. Feltman, Chapter 11 Trustee, is represented by:

          Steven S. Flores, Esq.
          TOGUT, SEGAL & SEGAL LLP
          One Penn Plaza, Suite 3335
          New York, NY 10119
          Telephone: (212)594-5000
          Email: sflores@teamtogut.com

Wells Fargo Bank is represented by:

          Jonathan N. Helfat, Esq.
          Richard Haddad, Esq.
          OTTERBOURG P.C.
          230 Park Avenue
          New York, NY 10169
          Telephone: (212)661-9100
          Facsimile: (212)682-6104
          E-mail: jhelfat@otterbourg.com
                  rhaddad@otterbourg.com

Corporate Resource Services is represented by:

          George W. Shuster, Jr., Esq.
          WILMER CUTLER PICKERING HALE AND DORR LLP
          7 World Trade Center
          250 Greenwich Street
          New York, NY 10007
          Telephone: (212)937-7232
          E-mail: george.shuster@wilmerhale.com

                        About TS Employment

Based in New York, TS Employment Inc. is a professional employer
organization that provides payroll-related services.  Its only
customer is publicly held Corporate Resource Services, Inc., a
diversified technology, staffing, recruiting, and consulting
services firm.  TS processes payroll of up to 30,000 employees.

TS Employment sought Chapter 11 for protection (Bankr. S.D.N.Y.
Case No. 15-10243) in Manhattan on Feb. 2, 2015.  Judge Martin
Glenn is assigned to the case.

The Debtor estimated at least $100 million in assets and debt.

The Debtor tapped Scott S. Markowitz, Esq., at Tarter Krinsky &
Drogin LLP, in New York, as counsel.  Realization Services Inc.
serves as the Debtor's consultant.

James S. Feltman serves as Chapter 11 trustee.  The Chapter 11
Trustee retains Friedman LLP as special accountant and Mesirow
Financial Consulting, LLC, as accountant to provide accounting,
forensic, and investigatory services.



UNITED CONTINENTAL: Fitch Hikes Issuer Default Rating to 'BB-'
--------------------------------------------------------------
Fitch Ratings has upgraded the Issuer Default Rating (IDR) for
United Continental Holdings, Inc. (UAL) and its airline operating
subsidiary, United Airlines, Inc. to 'BB-' from 'B+'. The Rating
Outlook is Positive. Fitch has also taken rating actions on several
United EETCs. A full list of ratings follows at the end of this
release.

The rating upgrade is supported by United's improving credit
metrics, the benefits that the company is achieving through its
on-going cost-savings program, a stronger balance sheet, and
generally improving credit profiles across the North American
Airline sector. United is also seeing large benefits from the lower
fuel prices. Fitch expects that substantially lower jet fuel prices
will allow United to produce sharply higher free cash flow (FCF) in
2015 despite relatively heavy capital spending.

The Positive Outlook reflects Fitch's expectations that United's
credit metrics will continue to improve as it works towards
achieving its stated goal of reaching $15 billion in gross adjusted
debt. The Positive Outlook assumes that the current, favorable,
operating environment for the U.S. airline industry continues
through the next 12-24 months, and that United will use the cash
that it is expected to generate over that time to improve its
balance sheet. The Positive Outlook also assumes that should the
industry experience a downturn the company would take steps to
preserve its credit quality such as pulling back anticipated share
repurchases and possibly decreasing capital spending.

Fitch's primary concerns include potential weakness and heavy
competition in international markets. United is particularly
exposed to international demand weakness and foreign currency
headwinds as international revenues make up a larger portion of the
company's business than its primary rivals. Weaker unit revenues
experienced in the first half of 2015 are not a material concern at
this point as they have been more than offset by lower fuel costs.
Longer term revenue weakness and continued capacity expansion by
U.S. carriers could be a concern particularly if unit revenues were
to remain pressured in a rising fuel environment. Other concerns
include United's high level of capital spending, relatively low
profit margins compared to its primary competitors, increased
shareholder returns and the cyclicality and high degree of
operating leverage that are typical of the airline industry.

Recent management changes also raise potential concerns. Fitch
views the departure of United's CEO as having mixed credit
implications. It is not known at this time what United's exposure
may be to the on-going federal investigation into its dealings with
the Port Authority of New York and New Jersey (PANYNJ), but Fitch
does not currently expect a material financial impact. The
investigation is looking into possible improper dealings related to
a route that United added to its network that directly benefited
the chairman of PANYNJ.

It is also uncertain at this time if the new CEO will make any
major strategic or financial changes in his new role, though this
risk is partially mitigated by the fact that Mr. Munoz has been a
long-time United board member. Fitch also considers Mr. Munoz'
background in the rail industry, as the former COO of CSX Corp., to
be a potential positive. The rail industry, like the airline
industry, is capital intensive, highly unionized and cyclical.

KEY RATING DRIVERS

Improving Balance Sheet: Lower fuel costs and improving operating
cash flows continue to support United's efforts towards reaching
its goal of $15 billion in gross adjusted debt over the
intermediate term, from around $17.5 billion at June 30, 2015. Note
that UAL's adjusted debt figure incorporates capitalized operating
leases calculated at 7x aircraft rent. Fitch's adjusted
debt/EBITDAR figure includes an adjustment of 8x for both aircraft
and non-aircraft rent. Fitch's forecast anticipates that United
could reach that goal by 2018, which would translate to an adjusted
debt/EBITDAR figure of 3x-3.25x or lower per Fitch's calculations.


Steady debt reduction and growing profitability have allowed UAL to
reduce its leverage (total adjusted debt/EBITDAR) to 3.6x at June
30, 2015 from more than 6x just two years ago. Fitch expects
leverage to improve incrementally, reaching the mid-3x range over
the next year. Estimates are based on a conservative forecast that
includes a rebound in jet fuel prices from today's low levels
(incorporating crude prices rising to around $80/barrel in 2016),
combined with a soft yield environment this year and moderately
rising yields next year.

Successful cost control efforts: United's 'project quality' cost
control initiative is helping to keep unit costs in check. Through
the first half of the year UAL's cost per available seat mile
(CASM) excluding fuel decreased by 0.7%, marking an improvement
from the 3.4% and 6.3% increases seen in 2012 and 2013,
respectively. The performance of UAL's cost control efforts through
the first part of the year give Fitch confidence that UAL will be
able to hit its guidance of keeping CASM-ex fuel to between flat to
up 0.5% for the full year and below 2% annually going forward.
Successful cost control should help boost United's operating
margins from their currently low level compared to their primary
competitors.

Unit revenue weakness not yet a material concern: Through the first
part of the year, higher capacity levels have pressured ticket
prices, causing relatively weak PRASM performance for the industry.
Fitch expects unit revenues to continue to be pressured through the
rest of the year. However, revenue weakness should be more than
offset by cheaper fuel prices, leading to expanding profit margins
across the industry.

Fitch does not believe that the industry is reverting back to its
days of irrational competition. Management teams from multiple
airlines have spoken publicly in recent weeks about the importance
of continued capacity constraint. As such, Fitch would expect the
industry to pare capacity back if faced with higher jet fuel prices
or more material contractions in unit revenue. Through the first
half of the year United's PRASM fell by 2.9%. Pacific and Latin
American markets were weak internationally, while energy-focused
markets like UAL's hub in Houston experienced some softness
domestically.

Sufficient Liquidity: United's liquidity position is supportive of
the rating. Fitch's liquidity analysis combines current cash on
hand with our forecast for two years of operating cash flow
compared to upcoming debt maturities and capital expenditures. We
estimate that UAL's liquidity is more than sufficient to cover
upcoming obligations, while maintaining an adequate cash reserve.
As of June 30, 2015, United maintained $6.3 billion in total
liquidity including full availability under its $1.35 billion
revolver. Liquidity as a percentage of LTM revenue was 16.5%.

Improved FCF: Fitch expects FCF to turn sharply positive in 2015,
potentially reaching or exceeding $1.5 billion. Fitch's forecast
anticipates it will remain solidly positive through our forecast
period. Lower fuel prices are expected to be the single largest
driver of improved cash flow, though UAL's on-going cost control
efforts and its increasingly new/efficient fleet will also provide
a benefit going forward.

Fitch expects FCF to improve despite capital spending that United
anticipates to be between $2.7 billion-$2.9 billion annually for
the next several years. United's FCF turned positive in the LTM
period ended June 30, 2015 after posting negative FCF for the past
three years. Merger related problems, weaker than expected
operating cash flow, and heavy aircraft deliveries were the main
drivers.

Cash flows also benefit from declining pension obligations. United
contributed $800 million to its pension plans in the first half of
the year, taking a meaningful step towards addressing the $2.2
billion underfunded position (as of year-end 2014). Fitch expects
cash obligations for United's pension plans to be minimal in coming
years. UAL's remaining pension obligations are relatively small
compared to Delta's year-end unfunded liability of $12.5 billion
and American's liability of $6.6 billion.

Returning Cash to Shareholders: United announced in its second
quarter 2015 (2Q15) earnings call that it would buy back $3 billion
worth of stock by the end of 2017, this comes on top of the $1
billion share repurchase program initiated in 2014. UAL expects to
complete the plan in 3Q15.

Fitch views the repurchase program as a modest concern given that
cash being directed towards repurchases could otherwise be used to
pay for aircraft or pay down debt. However, barring an unexpected
downturn in the market, Fitch believes United will generate
sufficient cash in the intermediate term to fund its planned
repurchases while still paying down debt. Share repurchases are
also relatively flexible compared to dividends, and could be pared
back or suspended to maintain cash in a future downturn.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for UAL include;

-- Low single-digit capacity growth through the forecast period;

-- Continued stable/slow growth in demand for U.S. domestic
    travel;

-- Mid-single-digit PRASM decline in 2015 followed by relatively
    flat unit revenues thereafter;

-- Conservative fuel price assumption which includes crude oil
    approaching $80/barrel in 2016 and rising incrementally
    thereafter.

RATING SENSITIVITIES

Future actions that may individually or collectively cause Fitch to
take a positive rating action include:

-- Adjusted debt/EBITDAR sustained around 3.5x
-- EBITDAR margins expanding towards or above 20%
-- FFO fixed charge sustained above 3x
-- Sustained positive FCF

Fitch does not expect to take a negative action in the near term.
However, future actions that may individually or collectively cause
Fitch to take a negative rating action include:

-- Adjusted debt/EBITDAR rising above 4x
-- EBITDAR margins deteriorating into the low double-digit range
-- Persistently negative FCF

EETC RATINGS

Concurrent with its review of the United Airlines IDR, Fitch has
affirmed the ratings for the United Airlines Pass Through Trust
series 2014-2, 2014-1, 2013-1, and 2012-2 class A certificates at
'A'.

Fitch's senior EETC tranche ratings are primarily based on a
top-down analysis of the level of overcollateralization (OC)
featured in the transaction. Fitch's stress analysis uses a
top-down approach assuming a rejection of the entire pool of
aircraft in a severe global aviation downturn. The stress scenario
incorporates a full draw on the liquidity facility, an assumed 5%
repossession/remarketing cost, and various stresses to the value of
the collateral.

Based on updated appraisal information incorporated into Fitch's
analysis, the level of OC in each of these transactions has
weakened slightly since the ratings were last reviewed. Weaker
levels are a result of 737-900ER values that declined at a faster
pace than was incorporated into Fitch's original model. However,
each series of class A certificates still passes Fitch's 'A'
category stress analysis, supporting rating affirmation.

Fitch also affirmed the 2014-2, 2014-1, 2013-1 and 2012-2 class B
certificates at 'BBB-'. Fitch has affirmed the 2013-3 class C
certificates at 'BB'.

The B and C tranche ratings are notched from the 'BB-' IDR of the
underlying airline. The affirmation of the subordinated EETC
tranches reflects Fitch's EETC criteria, which allows for a more
limited ratings uplift from the airline IDR for airlines rated in
the 'BB' category. Fitch's criteria allows for up to +3 notches of
uplift to account for the affirmation factor of a given pool of
aircraft for airlines rated in the 'B' category, and +2 notches for
airlines rated in the 'BB' category. The 'BBB-' rating for the B
tranches reflects a high affirmation factor (+2 notches) and the
presence of an 18-month liquidity facility (+1 notch). The 'BB'
rating for the 2012-3 C tranche reflects a high affirmation factor
(+2 notches) partially offset by recovery expectations (-1 notch).

Senior tranche ratings are primarily based on a top-down analysis
based on the value of the collateral. Therefore, a negative rating
action could be driven by an unexpected decline in collateral
values. For the 737-900ERs in these transactions, values could be
affected by the entrance of the 737-9 MAX, or by an unexpected
bankruptcy by one of its major operators. Likewise the Embraer 175s
could also be affected by the entrance of the 175 E-2. Concerns for
the 787 values largely revolve around the potential for future
maintenance or production issues on a scale above and beyond what
has already been experienced. Fitch does not expect to upgrade the
senior tranche ratings above the 'A' level in the near term.

Subordinated tranche ratings are based off of the underlying
airline IDR. As such, Fitch would likely upgrade the B tranches to
'BBB' if United's IDR were upgraded to 'BB'. Fitch's criteria allow
for greater ratings uplift for lower rated carriers, therefore if
United were downgraded to 'B+', the subordinated tranche ratings
would likely not change.

FULL LIST OF RATING ACTIONS

Fitch has taken the following rating actions:

United Continental Holdings, Inc.

-- IDR upgraded to 'BB-' from 'B+';
-- Senior unsecured rating upgraded to 'BB-/RR4' from 'B+/RR4'.

United Airlines, Inc.

-- IDR upgraded to 'BB-' from 'B+';
-- Secured bank credit facility affirmed at 'BB+/RR1'.

United Airlines Pass Through Trust Series 2014-2

-- Class A Certificates affirmed at 'A'
-- Class B Certificates affirmed at 'BBB-'.

United Airlines Pass Through Trust Series 2014-1

-- Class A Certificates affirmed at 'A'
-- Class B Certificates affirmed at 'BBB-'.

United Airlines Pass Through Trust Series 2013-1

-- Class A Certificates affirmed at 'A'
-- Class B Certificates affirmed at 'BBB-'.

Continental Airlines Pass Through Trust Series 2012-2

-- Class A Certificates affirmed at 'A'
-- Class B Certificates affirmed at 'BBB-'.

Continental Airlines Pass Through Trust Series 2012-3

-- Class C Certificates affirmed at 'BB'.




UNIVERSAL HEALTH: Court Enters Final Order Confirming Plan
----------------------------------------------------------
Judge K. Rodney May in August entered a final order confirming the
liquidating plan dated April 16, 2015 for Universal Health Care
Group Inc.

The plan was filed by Soneet R. Kapila, the Chapter 11 trustee for
the Debtor.

By order dated May 4, 2015, the Universal Amended Plan was
conditionally confirmed in all respects, subject only to separate
approvals of the WARN Act Settlement incorporated into the
Universal Amended Plan.

On May 4, 2015, the Court entered its Order Granting Chapter 11
Trustee's Motion to Approve Compromise of Controversy of WARN Act
Litigation.

On May 28, 2015, the Court conducted a fairness hearing in De La
Concha, et al. v. American Managed Care, LLC, et al., Adv. No.
8:13-ap-00273-KRM.  At the conclusion of the fairness hearing, the
Court approved the WARN Act Settlement as fair and equitable, and
consistent with the WARN Act Settlement: (a) certified the class of
former employees as provided in the WARN Act Settlement; (b)
approved proposed Class Counsel; and (c) approved the Class
Representatives and their Incentive Awards.  The Order Approving
Class Representatives, Class Counsel, Class Certification and
Related Relief was entered on June 15, 2015.

All of the required WARN Act Settlement Approvals have been
obtained and there are no further conditions or contingencies to
final confirmation of the Universal Amended Plan.

Accordingly, on Aug. 18, Judge May entered an order providing
that:

  -- The Universal Amended Plan is CONFIRMED, in all respects, in
accordance with 11 U.S.C. Sec. 1129.

  -- Pursuant to the Universal Amended Plan, the WARN Act Class
will have the following Allowed Claims, which are limited and more
particularly described in the WARN Act Settlement and the Universal
Amended Plan:

   1. An Allowed Class Administrative Claim in the total amount of
a single recovery of $200,000.

   2. An Allowed Class Priority Claim in the amount of a maximum
single priority recovery of $7.0 million to be funded exclusively
from payments received from (a) the Contingent WARN Act Claims of
Universal and American Managed Care, LLC ("AMC") filed in the
receivership proceedings for Universal Health Care, Inc. and
Universal Health Care Insurance Company, Inc. and (b) the WARN Act
claims filed by Universal and AMC in the receivership proceedings
for Universal HMO of Texas, Inc. and Universal Health Care of
Nevada, Inc. (the "WARN Act Recoveries").

   3. An Allowed Class Unsecured Claim in the amount of a single
maximum recovery of $1.5 million, subject to being increased by the
difference between $6.0 million and the actual gross WARN Act
Recoveries.

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

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

Pursuant to the Plan, the Chapter 11 Trustee will serve as
liquidating agent who will be responsible for overseeing the
liquidating estate, which will be funded with all of the Debtor's
assets as of the Confirmation Date.  Upon Confirmation, the
Trustee, as Liquidating Agent, will act to liquidate the remainder
of the Debtor's Assets, resolve all remaining litigation, determine
the amount of Claims that will be allowed, and make distributions
under the Waterfall Schedule set forth in the Amended Plan.  

The Amended Plan leaves equity interests of non-subordinated
shareholders unimpaired and subordinates the equity interests of
certain shareholders, including Deepak Desai, Jeff Lundy and Sandip
Patel, who have agreed to the subordination.  The Amended Plan
incorporates a settlement between the Trustee, BankUnited and
Citrus.

                 About Universal Health Care Group

Universal Health Care Group, Inc., owns an insurance company and
three health-maintenance organizations that provide managed care
services for government sponsored health care programs, focusing
on Medicare and Medicaid.

Universal Health was founded in 2002 by Dr. A.K. Desai and grew
its operations of offering Medicare plans to more than 37,000
members to over 20 states.

Universal Health filed a Chapter 11 bankruptcy protection (Bankr.
M.D. Fla. Case No. 13-01520) on Feb. 6, 2013, after Florida
regulators moved to put two of the company's subsidiaries in a
receivership. Universal Health Care estimated assets of up to$100
million and debt of less than $50 million in court filings in a
Tampa, Florida.  Harley E. Riedel, Esq., at Stichter Riedel Blain
& Prosser serves as counsel to the Debtor

Soneet R. Kapila has been appointed the Chapter 11 Trustee in the
Debtor's case.  He is represented by Roberta A. Colton, Esq., at
Trenam, Kemker, Scharf, Barkin, Frye, O'Neill & Mullis, PA.
Dennis S. Jennis, Esq., and Jennis & Bowen, P.L., serve as special
conflicts counsel and E-Hounds, Inc., serves as a forensic imaging
consultant to the Chapter 11 trustee.

An affiliate, American Managed Care, LLC, sought Chapter 11
protection (Bankr. M.D. Fla. Case No. 13-05952) on May 3, 2015.
See http://bankrupt.com/misc/flmb13-5952.pdf


UNIVERSAL HEALTH: Final Order Confirming AMC Plan Entered
---------------------------------------------------------
Judge K. Rodney May has entered a final order confirming the
Modified Chapter 11 Liquidating Plan dated March 19, 2015, for
American Managed Care, LLC.

The Plan was filed by Soneet R. Kapila, the Chapter 11 Trustee.

By Order dated April 6, 2015, the AMC Modified Plan was
conditionally confirmed in all respects, subject only to separate
approvals of the WARN Act Settlement incorporated into the AMC
Modified Plan.

On May 4 2015, the Court entered its Order Granting Chapter 11
Trustee's Motion to Approve Compromise of Controversy of WARN Act
Litigation.

On May 28, 2015, the Court conducted a fairness hearing in De La
Concha, et al. v. American Managed Care, LLC, et al., Adv. No.
8:13-ap-00273-KRM.  At the conclusion of the fairness hearing, the
Court approved the WARN Act Settlement as fair and equitable, and
consistent with the WARN Act Settlement: (a) certified the class of
former employees as provided in the WARN Act Settlement; (b)
approved proposed Class Counsel; and (c) approved the Class
Representatives and their Incentive Awards.  The Order Approving
Class Representatives, Class Counsel, Class Certification and
Related Relief was entered on June 15, 2015 (Doc. No. 80, Adv. No.
8:13-ap-00273-KRM).

All of the required WARN Act Settlement Approvals have been
obtained and there are no further conditions or contingencies to
final confirmation of the AMC Modified Plan.

Accordingly, in his Aug. 18 order, Judge May ruled that:

   A. The AMC Modified Plan is confirmed, in all respects, in
accordance with 11 U.S.C. Sec. 1129.

   B. Pursuant to the AMC Modified Plan, the WARN Act Class will
have the following Allowed Claims, which are limited and more
particularly described in the WARN Act Settlement and the AMC
Modified Plan:

      1. An Allowed Class Administrative Claim in the total amount
of a single recovery of $200,000.

      2. An Allowed Class Priority Claim in the amount of a maximum
single priority recovery of $7.0 million to be funded exclusively
from payments received from (a) the Contingent WARN Act Claims of
AMC and Universal Health Care Group, Inc., in the receivership
proceedings for Universal Health Care, Inc. and Universal Health
Care Insurance Company, Inc. and (b) the WARN Act claims filed by
AMC and Universal in the receivership proceedings for Universal HMO
of Texas, Inc. and Universal Health Care of Nevada, Inc. (the "WARN
Act Recoveries").

   3. An Allowed Class Unsecured Claim in the amount of a single
maximum recovery of $1.5 million, subject to being increased by the
difference between $6.0 million and the actual gross WARN Act
Recoveries.

                 About Universal Health Care Group

Universal Health Care Group, Inc., owns an insurance company and
three health-maintenance organizations that provide managed care
services for government sponsored health care programs, focusing on
Medicare and Medicaid.

Universal Health was founded in 2002 by Dr. A.K. Desai and grew its
operations of offering Medicare plans to more than 37,000 members
to over 20 states.

Universal Health filed a Chapter 11 bankruptcy protection (Bankr.
M.D. Fla. Case No. 13-01520) on Feb. 6, 2013, after Florida
regulators moved to put two of the company's subsidiaries in a
receivership. Universal Health Care estimated assets of up to$100
million and debt of less than $50 million in court filings in a
Tampa, Florida.  Harley E. Riedel, Esq., at Stichter Riedel Blain
& Prosser serves as counsel to the Debtor

Soneet R. Kapila has been appointed the Chapter 11 Trustee in the
Debtor's case.  He is represented by Roberta A. Colton, Esq., at
Trenam, Kemker, Scharf, Barkin, Frye, O'Neill & Mullis, PA.
Dennis S. Jennis, Esq., and Jennis & Bowen, P.L., serve as special
conflicts counsel and E-Hounds, Inc., serves as a forensic imaging
consultant to the Chapter 11 trustee.

An affiliate, American Managed Care, LLC, sought Chapter 11
protection (Bankr. M.D. Fla. Case No. 13-05952) on May 3, 2015.
See http://bankrupt.com/misc/flmb13-5952.pdf


USA DISCOUNTERS: Seeks Authority to Hire Pachulski as Co-Counsel
----------------------------------------------------------------
USA Discounters, Ltd., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Pachulski
Stang Ziehl & Jones LLP as co-counsel.

The professional services that PSZ&J will provide include, but will
not be limited to:

   (a) providing legal advice regarding local rules, practices,
       and procedures;

   (b) reviewing and commenting on drafts of documents to ensure
       compliance with local rules, practices, and procedures;

   (c) filing documents as requested by Klee, Tuchin, Bogdanoff &
       Stern LLP and coordinating with the Debtors' claims agent
       for service of documents;

   (d) preparing agenda letters, certificates of no objection,
       certifications of counsel, and notices of fee applications
       and hearings;

   (e) preparing hearing binders of documents and pleadings,
       printing of documents and pleadings for hearings;

   (f) appearing in Court and at any meeting of creditors on
       behalf of the Debtors in its capacity as co-counsel with
       Klee, Tuchin, Bogdanoff & Stern LLP;

   (g) monitoring the docket for filings and coordinating with
       Klee, Tuchin, Bogdanoff &Stern LLP on pending matters that
       need responses;

   (h) preparing and maintaining critical dates memorandum to
       monitor pending applications, motions, hearing dates and
       other matters and the deadlines associated with same;
       distributing critical dates memorandum with Klee, Tuchin,
       Bogdanoff & Stern LLP for review and any necessary
       coordination for pending matters;

   (i) handling inquiries and calls from creditors and counsel to
       interested parties regarding pending matters and the
       general status of these Cases, and, to the extent required,
       coordinating with Klee, Tuchin, Bogdanoff & Stern LLP on
       any necessary responses; and

   (j) providing additional administrative support to Klee,
       Tuchin, Bogdanoff & Stern LLP, as requested.

Attorneys and paralegals presently designated to represent the
Debtors and their current standard hourly rates are:

   Laura Davis Jones, Esq.          $1,025
   James E. O'Neill, Esq.             $750
   Colin R. Robinson, Esq.            $650
   Peter J. Keane, Esq.               $525
   Paralegal                          $305

It is the firm's policy to charge for all other expenses incurred
in connection with the clients' cases.

PSZ&J has received payments from the Debtors during the year prior
to the Petition Date in the amount of $80,151 including the
Debtors' aggregate filing fees for these cases, in connection with
its prepetition representation of the Debtors.

Laura Davis Jones, Esq., a partner in the law firm of Pachulski
Stang Ziehl & Jones LLP, in Wilmington, Delaware, assures the Court
that PSZ&J has not represented the Debtors, their creditors, equity
security holders, or any other parties in interest, or their
respective attorneys, in any matter relating to the Debtors or
their estates.  Further, Ms. Jones assures the Court that PSZ&J
does not hold or represent any interest adverse to the Debtors'
estates, PSZ&J is a "disinterested person" as that phrase is
defined in Section 101(14) of the Bankruptcy Code.

Ms. Jones, pursuant to Rule 2014 of the Federal Rules of Bankruptcy
Procedure, discloses that the firm currently serves as counsel to
Alvarez & Marsal, LLC, and Stan Springel as defendants in an
adversary proceeding captioned Kennedy v. Skadden Arps Slate
Meagher & Flom LLP, et al. (In Ne Radnor Holdings C'orp.), Adv.
Pro. No. 12-51308 (KG) and pending in the United States Bankruptcy
Court for the District of Delaware.  The Radnor Adversary is
unrelated to the Debtors' chapter 11 cases, Ms. Jones tells the
Court.  The Firm will not represent A&M or Springel in the Debtors'
chapter 11 cases.

Pursuant to Part D1 of the 2013 UST Guidelines, PSZ&J stated that
the firm did not agree to any variations from, or alternatives to,
the firm's standard or customary billing arrangements for the
engagement and none of the professionals included in the engagement
varied their rate based on the geographic location of the
bankruptcy case.

                      About USA Discounters

USA Discounters was founded in May 1991. in the City of Norfolk,
Virginia, under the name USA Furniture Discounters, Ltd.  It sold
goods through two groups of stores -- one group of specialty
retail stores operating under the "USA Living" brand, typically in
standalone locations, and seven additional retail stores operating
under the "Fletcher's Jewelers" brand, typically in major shopping
malls.

USA Discounters, Ltd., and two affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 15-11755) on
Aug. 24, 2015, to wind down the business.

The Debtors tapped Pachulski Stang Ziehl & Jones LLP and Klee,
Tuchin, Bogdanoff & Stern LLP as attorneys, and Kurtzman Carson
Consultants, LLC, as claims and noticing agent.

USA Discounters estimated $100 million to $500 million in assets
and $50 million to $100 million in liabilities.


WILLIAM A. TRUDEAU: Order Dismissing Bankruptcy Case Affirmed
-------------------------------------------------------------
William A. Trudeau, Jr., appeals pro se from the bankruptcy court's
April 21, 2015 order dismissing his bankruptcy case for failure to
comply with certain court orders requiring him to file outstanding
schedules, statements, and other documents.  The United States
Bankruptcy Appellate Panel, First Circuit, in an opinion dated Aug.
27, 2015, affirmed the bankruptcy court's order.

The appeals case is WILLIAM A. TRUDEAU, JR., Appellant, BAP NO. MW
15-029 (1st Cir. BAP), relating to  In re WILLIAM A. TRUDEAU, JR.,
Debtor, BANKRUPTCY CASE NO. 15-40258-MSH.


YELLOW CAB: Examiner to Investigate Deal with Creditors
-------------------------------------------------------
Jessica Corso at Bankruptcy Law360 reported that nearly six months
after an injured attorney's $26 million jury verdict crashed Yellow
Cab Affiliates Inc., a deal hammered out between the company and
its creditors committee will see an examiner appointed to
investigate the finances of the bankrupt Chicago taxi service.

An examiner -- as yet to be appointed by the U.S. Trustee's office
-- will look into the financial connections between Yellow Cab and
14 of its affiliates, including parent company Yellow Group LLC.

Chicago, Illinois-based Yellow Cab Affiliation, Inc., filed for
Chapter 11 protection (Bankr. N.D. Ill. Case No. 15-09539) on March
18, 2015.  The petition was signed by Michael Levine, president.

Bankruptcy Judge Hon. Carol A. Doyle presides over the case.
Matthew T. Gensburg, Esq., at Greenberg Traurig LLP; and Martin S
Kedziora, Esq., at Greenberg Traurig, LLP,  and Bruce Zirinksky
represent the Debtors in their restructuring effort.  

The Debtors estimated assets at $1 million to $10 million and debts
at $10 million to $50 million.


[*] Fitch: Banks to Focus on Costs, Sensitivity After Fed Decision
------------------------------------------------------------------
Now that the Fed has maintained its near-zero target rate, most
U.S. banks will remain very attentive to their cost structures
given the expectation of flat to lower asset yields going forward,
says Fitch Ratings.  Moreover, Fitch expects many highly
asset-sensitive banks to trim their asset sensitivity in order to
potentially protect net interest income from further downward
pressure.

Moody's said, "With the Fed's decision to maintain a target range
of 0% to 0.25%, we believe the banking industry will seek to find
even greater operating efficiencies in the near to intermediate
term. While many banks have already laid out and executed
cost-cutting initiatives, we anticipate further efforts in reducing
operating costs and improving operating leverage. We believe many
banks were counting on a rate lift-off in order to marginally
improve net interest income, and thus, positively affect key
earnings metrics such as the efficiency ratio. With the Fed
maintaining its near-zero target for the near term, additional
efficiency measures are likely to be examined.

"We also anticipate many asset-sensitive banks to take actions to
trim their sensitivity to guard against further pressure on net
interest margins (NIMs) and overall revenue. Public disclosures on
banks' sensitivity to interest rates is commonly evaluated in the
context of 100 bps or 200 bps parallel shifts in the yield curve.
We note that most banks have disclosed that an increase in rates
would be of benefit to net interest income. A few banks in our
rated universe project double-digit percentage growth in NIM in an
environment where rates increase 200 bps based on their modeling
assumptions. Now that rates are likely to be lower for longer, we
expect those highly asset-sensitive banks to reinvest incoming cash
flows further out on the rate curve, reducing asset sensitivity.

"We continue to believe that predictions of what will happen
following a rate increase by the Fed are complicated by how banks
will aim to retain core deposits under the new liquidity coverage
ratio rules. Other factors that may prove influential include a
potentially faster velocity of money given the rise of Internet
banking, impact of money market reform and whether the federal
funds market revives under the regime where the Fed pays interest
on banks' reserves."



[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------
                                                 Total
                                                Share-      Total
                                    Total     Holders'    Working
                                   Assets       Equity    Capital
  Company         Ticker             ($MM)        ($MM)      ($MM)
  -------         ------           ------     --------    -------
ABSOLUTE SOFTWRE  OU1 GR            149.9        (13.1)      (8.1)
ABSOLUTE SOFTWRE  ALSWF US          149.9        (13.1)      (8.1)
ABSOLUTE SOFTWRE  ABT CN            149.9        (13.1)      (8.1)
ADV MICRO DEVICE  AMD* MM         3,381.0       (141.0)   1,052.0
ADVANCED EMISSIO  ADES US           106.4        (46.1)     (15.3)
ADVENT SOFTWARE   ADVS US           424.8        (50.1)    (110.8)
AEROJET ROCKETDY  GCY TH          1,898.1        (95.6)     143.6
AEROJET ROCKETDY  GCY GR          1,898.1        (95.6)     143.6
AEROJET ROCKETDY  AJRD US         1,898.1        (95.6)     143.6
AIR CANADA        ACEUR EU       12,374.0       (388.0)     (53.0)
AIR CANADA        ADH2 GR        12,374.0       (388.0)     (53.0)
AIR CANADA        ADH2 TH        12,374.0       (388.0)     (53.0)
AIR CANADA        ACDVF US       12,374.0       (388.0)     (53.0)
AIR CANADA        AC CN          12,374.0       (388.0)     (53.0)
AK STEEL HLDG     AKS* MM         4,335.4       (463.0)     863.4
AMER RESTAUR-LP   ICTPU US           33.5         (4.0)      (6.2)
AMYLIN PHARMACEU  AMLN US         1,998.7        (42.4)     263.0
ANGIE'S LIST INC  ANGI US           176.1        (21.6)     (26.0)
ANGIE'S LIST INC  8AL TH            176.1        (21.6)     (26.0)
ANGIE'S LIST INC  8AL GR            176.1        (21.6)     (26.0)
ARIAD PHARM       APS TH            543.0        (13.8)     209.9
ARIAD PHARM       APS GR            543.0        (13.8)     209.9
ARIAD PHARM       ARIACHF EU        543.0        (13.8)     209.9
ARIAD PHARM       ARIA SW           543.0        (13.8)     209.9
ARIAD PHARM       ARIA US           543.0        (13.8)     209.9
ARIAD PHARM       ARIAEUR EU        543.0        (13.8)     209.9
ASPEN TECHNOLOGY  AZPN US           315.4        (48.5)     (32.8)
ASPEN TECHNOLOGY  AST GR            315.4        (48.5)     (32.8)
AUTOZONE INC      AZ5 QT          8,032.4     (1,643.2)    (742.6)
AUTOZONE INC      AZ5 TH          8,032.4     (1,643.2)    (742.6)
AUTOZONE INC      AZOEUR EU       8,032.4     (1,643.2)    (742.6)
AUTOZONE INC      AZ5 GR          8,032.4     (1,643.2)    (742.6)
AUTOZONE INC      AZO US          8,032.4     (1,643.2)    (742.6)
AVID TECHNOLOGY   AVD GR            276.2       (338.1)    (147.2)
AVID TECHNOLOGY   AVID US           276.2       (338.1)    (147.2)
AVINTIV SPECIALT  POLGA US        1,991.4         (3.9)     322.1
BARRACUDA NETWOR  CUDAEUR EU        400.4        (31.3)      36.9
BARRACUDA NETWOR  CUDA US           400.4        (31.3)      36.9
BARRACUDA NETWOR  7BM GR            400.4        (31.3)      36.9
BERRY PLASTICS G  BERY US         5,011.0        (74.0)     634.0
BERRY PLASTICS G  BP0 GR          5,011.0        (74.0)     634.0
BLUE BUFFALO PET  B6B GR            459.5        (33.7)     258.1
BLUE BUFFALO PET  BUFF US           459.5        (33.7)     258.1
BLUE BUFFALO PET  B6B TH            459.5        (33.7)     258.1
BRINKER INTL      EAT US          1,435.9        (78.5)    (228.8)
BRINKER INTL      BKJ GR          1,435.9        (78.5)    (228.8)
BRP INC/CA-SUB V  BRPIF US        2,223.5        (31.1)     255.8
BRP INC/CA-SUB V  DOO CN          2,223.5        (31.1)     255.8
BRP INC/CA-SUB V  B15A GR         2,223.5        (31.1)     255.8
BURLINGTON STORE  BURL US         2,673.6        (40.6)     166.6
BURLINGTON STORE  BURL* MM        2,673.6        (40.6)     166.6
BURLINGTON STORE  BUI GR          2,673.6        (40.6)     166.6
CABLEVISION SY-A  CVY TH          6,712.1     (4,951.2)      61.0
CABLEVISION SY-A  CVC US          6,712.1     (4,951.2)      61.0
CABLEVISION SY-A  CVCEUR EU       6,712.1     (4,951.2)      61.0
CABLEVISION SY-A  CVY GR          6,712.1     (4,951.2)      61.0
CABLEVISION-W/I   CVC-W US        6,712.1     (4,951.2)      61.0
CABLEVISION-W/I   8441293Q US     6,712.1     (4,951.2)      61.0
CADIZ INC         CDZI US            63.3        (49.7)     (27.3)
CAMBIUM LEARNING  ABCD US           156.6        (75.1)     (16.2)
CASELLA WASTE     WA3 GR            657.5        (18.9)      (1.2)
CASELLA WASTE     CWST US           657.5        (18.9)      (1.2)
CEDAR FAIR LP     FUN US          2,076.3         (3.5)     (89.1)
CEDAR FAIR LP     7CF GR          2,076.3         (3.5)     (89.1)
CENTENNIAL COMM   CYCL US         1,480.9       (925.9)     (52.1)
CHARTER COM-A     CKZA GR        17,319.0        (31.0)  (1,180.0)
CHARTER COM-A     CKZA TH        17,319.0        (31.0)  (1,180.0)
CHARTER COM-A     CHTR US        17,319.0        (31.0)  (1,180.0)
CHOICE HOTELS     CZH GR            702.6       (385.5)     195.9
CHOICE HOTELS     CHH US            702.6       (385.5)     195.9
CINCINNATI BELL   CIB GR          1,509.6       (403.5)      (0.2)
CINCINNATI BELL   CBB US          1,509.6       (403.5)      (0.2)
CLEAR CHANNEL-A   CCO US          6,188.4       (263.3)     386.6
CLEAR CHANNEL-A   C7C GR          6,188.4       (263.3)     386.6
CLIFFS NATURAL R  CLF* MM         2,609.4     (1,740.2)     623.8
CLIFFS NATURAL R  CLF US          2,609.4     (1,740.2)     623.8
COLLEGIUM PHARMA  COLL US             5.1        (12.2)      (5.9)
CORIUM INTERNATI  6CU GR             59.3         (5.4)      31.2
CORIUM INTERNATI  CORI US            59.3         (5.4)      31.2
CYAN INC          CYNI US           112.1        (18.4)      56.9
CYAN INC          YCN GR            112.1        (18.4)      56.9
DELEK LOGISTICS   D6L GR            352.0        (15.8)       5.5
DELEK LOGISTICS   DKL US            352.0        (15.8)       5.5
DIRECTV           DTVEUR EU      25,321.0     (3,463.0)   1,360.0
DIRECTV           DTV US         25,321.0     (3,463.0)   1,360.0
DIRECTV           DTV CI         25,321.0     (3,463.0)   1,360.0
DOMINO'S PIZZA    EZV TH            597.9     (1,245.7)     135.3
DOMINO'S PIZZA    EZV GR            597.9     (1,245.7)     135.3
DOMINO'S PIZZA    DPZ US            597.9     (1,245.7)     135.3
DUN & BRADSTREET  DNB US          2,092.7     (1,217.9)    (412.7)
DUN & BRADSTREET  DB5 TH          2,092.7     (1,217.9)    (412.7)
DUN & BRADSTREET  DNB1EUR EU      2,092.7     (1,217.9)    (412.7)
DUN & BRADSTREET  DB5 GR          2,092.7     (1,217.9)    (412.7)
DUNKIN' BRANDS G  2DB TH          3,358.7        (87.9)     269.5
DUNKIN' BRANDS G  2DB GR          3,358.7        (87.9)     269.5
DUNKIN' BRANDS G  DNKN US         3,358.7        (87.9)     269.5
DURATA THERAPEUT  DRTX US            82.1        (16.1)      11.7
DURATA THERAPEUT  DTA GR             82.1        (16.1)      11.7
DURATA THERAPEUT  DRTXEUR EU         82.1        (16.1)      11.7
EDGEN GROUP INC   EDG US            883.8         (0.8)     409.2
ENERGIZER HOLDIN  ENR US          1,117.1       (296.9)     316.4
ENERGIZER HOLDIN  ENR-WEUR EU     1,117.1       (296.9)     316.4
ENERGIZER HOLDIN  EGG QT          1,117.1       (296.9)     316.4
EXELIXIS INC      EXELEUR EU        248.8       (188.2)      31.5
EXELIXIS INC      EX9 TH            248.8       (188.2)      31.5
EXELIXIS INC      EX9 GR            248.8       (188.2)      31.5
EXELIXIS INC      EXEL US           248.8       (188.2)      31.5
EXTENDICARE INC   EXE CN          2,167.5        (10.8)     (47.7)
EXTENDICARE INC   EXETF US        2,167.5        (10.8)     (47.7)
FERRELLGAS-LP     FEG GR          1,592.9       (103.4)      23.7
FERRELLGAS-LP     FGP US          1,592.9       (103.4)      23.7
FREESCALE SEMICO  FSLEUR EU       3,165.0     (3,173.0)   1,257.0
FREESCALE SEMICO  1FS TH          3,165.0     (3,173.0)   1,257.0
FREESCALE SEMICO  1FS GR          3,165.0     (3,173.0)   1,257.0
FREESCALE SEMICO  FSL US          3,165.0     (3,173.0)   1,257.0
GAMING AND LEISU  2GL GR          2,516.0       (135.8)       5.9
GAMING AND LEISU  GLPI US         2,516.0       (135.8)       5.9
GARDA WRLD -CL A  GW CN           1,401.9       (325.2)      39.5
GARTNER INC       GGRA GR         1,861.0       (170.2)    (138.5)
GARTNER INC       IT US           1,861.0       (170.2)    (138.5)
GENESIS HEALTHCA  GEN US          6,103.4       (244.5)     228.5
GENESIS HEALTHCA  SH11 GR         6,103.4       (244.5)     228.5
GENTIVA HEALTH    GTIV US         1,225.2       (285.2)     130.0
GENTIVA HEALTH    GHT GR          1,225.2       (285.2)     130.0
GLAUKOS CORP      GKOS US            28.3         (4.4)      (4.9)
GLAUKOS CORP      6GJ GR             28.3         (4.4)      (4.9)
GLG PARTNERS INC  GLG US            400.0       (285.6)     156.9
GLG PARTNERS-UTS  GLG/U US          400.0       (285.6)     156.9
GOLD RESERVE INC  GRZ CN             16.3        (28.8)     (39.0)
GRAHAM PACKAGING  GRM US          2,947.5       (520.8)     298.5
GYMBOREE CORP/TH  GYMB US         1,243.7       (378.0)      32.7
HCA HOLDINGS INC  2BH GR         31,710.0     (5,955.0)   2,983.0
HCA HOLDINGS INC  2BH TH         31,710.0     (5,955.0)   2,983.0
HCA HOLDINGS INC  HCA US         31,710.0     (5,955.0)   2,983.0
HCA HOLDINGS INC  HCAEUR EU      31,710.0     (5,955.0)   2,983.0
HD SUPPLY HOLDIN  HDS US          6,505.0       (393.0)   1,466.0
HD SUPPLY HOLDIN  5HD GR          6,505.0       (393.0)   1,466.0
HERBALIFE LTD     HLF US          2,415.1       (196.4)     363.2
HERBALIFE LTD     HLFEUR EU       2,415.1       (196.4)     363.2
HERBALIFE LTD     HOO GR          2,415.1       (196.4)     363.2
HOVNANIAN-A-WI    HOV-W US        2,549.3       (151.5)   1,595.3
HUGHES TELEMATIC  HUTCU US          110.2       (101.6)    (113.8)
IEG HOLDINGS COR  IEGH US             -           (3.8)      (0.6)
IHEARTMEDIA INC   IHRT US        13,626.9    (10,240.8)     816.5
INFOR US INC      LWSN US         6,778.1       (460.0)    (305.9)
INVENTIV HEALTH   VTIV US         2,154.4       (613.8)      84.5
IPCS INC          IPCS US           559.2        (33.0)      72.1
ISTA PHARMACEUTI  ISTA US           124.7        (64.8)       2.2
JUST ENERGY GROU  JE US           1,229.2       (528.2)      (6.6)
JUST ENERGY GROU  1JE GR          1,229.2       (528.2)      (6.6)
JUST ENERGY GROU  JE CN           1,229.2       (528.2)      (6.6)
L BRANDS INC      LB* MM          6,804.0       (647.0)     928.0
L BRANDS INC      LB US           6,804.0       (647.0)     928.0
L BRANDS INC      LBEUR EU        6,804.0       (647.0)     928.0
L BRANDS INC      LTD TH          6,804.0       (647.0)     928.0
L BRANDS INC      LTD GR          6,804.0       (647.0)     928.0
LANTHEUS HOLDING  0L8 GR            233.6       (195.6)      41.4
LANTHEUS HOLDING  LNTH US           233.6       (195.6)      41.4
LEAP WIRELESS     LWI TH          4,662.9       (125.1)     346.9
LEAP WIRELESS     LWI GR          4,662.9       (125.1)     346.9
LEAP WIRELESS     LEAP US         4,662.9       (125.1)     346.9
LORILLARD INC     LO US           4,154.0     (2,134.0)   1,135.0
LORILLARD INC     LLV TH          4,154.0     (2,134.0)   1,135.0
LORILLARD INC     LLV GR          4,154.0     (2,134.0)   1,135.0
MAJESCOR RESOURC  MJXEUR EU           0.1         (3.2)      (3.2)
MALIBU BOATS-A    M05 GR            189.1        (11.3)       6.7
MALIBU BOATS-A    MBUU US           189.1        (11.3)       6.7
MANNKIND CORP     NNF1 GR           352.6       (115.5)    (196.4)
MANNKIND CORP     MNKDEUR EU        352.6       (115.5)    (196.4)
MANNKIND CORP     NNF1 TH           352.6       (115.5)    (196.4)
MANNKIND CORP     MNKD US           352.6       (115.5)    (196.4)
MARRIOTT INTL-A   MAQ GR          6,321.0     (3,033.0)  (1,611.0)
MARRIOTT INTL-A   MAQ TH          6,321.0     (3,033.0)  (1,611.0)
MARRIOTT INTL-A   MAR US          6,321.0     (3,033.0)  (1,611.0)
MCBC HOLDINGS IN  1SG GR             91.6        (44.8)     (38.2)
MCBC HOLDINGS IN  MCFT US            91.6        (44.8)     (38.2)
MDC COMM-W/I      MDZ/W CN        1,848.6       (273.8)    (394.7)
MDC PARTNERS-A    MD7A GR         1,848.6       (273.8)    (394.7)
MDC PARTNERS-A    MDZ/A CN        1,848.6       (273.8)    (394.7)
MDC PARTNERS-A    MDCA US         1,848.6       (273.8)    (394.7)
MDC PARTNERS-EXC  MDZ/N CN        1,848.6       (273.8)    (394.7)
MERITOR INC       AID1 GR         2,453.0       (591.0)     360.0
MERITOR INC       MTOR US         2,453.0       (591.0)     360.0
MERRIMACK PHARMA  MACK US           105.0       (143.1)     (33.7)
MERRIMACK PHARMA  MP6 GR            105.0       (143.1)     (33.7)
MICHAELS COS INC  MIK US          1,864.0     (1,992.6)     501.0
MICHAELS COS INC  MIM GR          1,864.0     (1,992.6)     501.0
MIDSTATES PETROL  MPO1EUR EU      1,796.2       (322.8)     117.4
MONEYGRAM INTERN  MGI US          4,464.6       (248.7)     (40.4)
MOODY'S CORP      MCO US          4,999.5       (103.4)   1,939.2
MOODY'S CORP      DUT TH          4,999.5       (103.4)   1,939.2
MOODY'S CORP      MCOEUR EU       4,999.5       (103.4)   1,939.2
MOODY'S CORP      DUT GR          4,999.5       (103.4)   1,939.2
MPG OFFICE TRUST  1052394D US     1,280.0       (437.3)       -
NATHANS FAMOUS    NATH US            85.6        (62.7)      59.1
NATIONAL CINEMED  NCMI US         1,010.5       (221.6)      73.0
NATIONAL CINEMED  XWM GR          1,010.5       (221.6)      73.0
NAVIDEA BIOPHARM  NAVB IT            22.2        (44.6)      13.9
NAVISTAR INTL     NAV US          6,769.0     (4,809.0)     873.0
NAVISTAR INTL     IHR GR          6,769.0     (4,809.0)     873.0
NAVISTAR INTL     IHR TH          6,769.0     (4,809.0)     873.0
NEFF CORP-CL A    NEFF US           668.9       (187.7)      10.4
NEW ENG RLTY-LP   NEN US            177.2        (29.6)       -
NORTHWEST BIO     NBYA GR            64.2        (76.2)     (95.3)
NORTHWEST BIO     NWBO US            64.2        (76.2)     (95.3)
NTELOS HOLDINGS   NTLS US           700.2        (14.3)     185.6
OMTHERA PHARMACE  OMTH US            18.3         (8.5)     (12.0)
PACE HOLDINGS CO  PACEU US            0.4         (0.0)      (0.2)
PALM INC          PALM US         1,007.2         (6.2)     141.7
PBF LOGISTICS LP  11P GR            417.8       (199.9)      18.7
PBF LOGISTICS LP  PBFX US           417.8       (199.9)      18.7
PHILIP MORRIS IN  PM1EUR EU      32,713.0    (11,798.0)  (1,614.0)
PHILIP MORRIS IN  PM1 TE         32,713.0    (11,798.0)  (1,614.0)
PHILIP MORRIS IN  4I1 GR         32,713.0    (11,798.0)  (1,614.0)
PHILIP MORRIS IN  PM FP          32,713.0    (11,798.0)  (1,614.0)
PHILIP MORRIS IN  PM US          32,713.0    (11,798.0)  (1,614.0)
PHILIP MORRIS IN  4I1 TH         32,713.0    (11,798.0)  (1,614.0)
PHILIP MORRIS IN  PMI SW         32,713.0    (11,798.0)  (1,614.0)
PHILIP MORRIS IN  PM1CHF EU      32,713.0    (11,798.0)  (1,614.0)
PHILIP MORRIS IN  4I1 QT         32,713.0    (11,798.0)  (1,614.0)
PLAYBOY ENTERP-A  PLA/A US          165.8        (54.4)     (16.9)
PLAYBOY ENTERP-B  PLA US            165.8        (54.4)     (16.9)
PLY GEM HOLDINGS  PGEM US         1,312.8       (119.6)     258.1
PLY GEM HOLDINGS  PG6 GR          1,312.8       (119.6)     258.1
POLYMER GROUP-B   POLGB US        1,991.4         (3.9)     322.1
PROTALEX INC      PRTX US             1.0        (12.6)       0.4
PROTECTION ONE    PONE US           562.9        (61.8)      (7.6)
PUREBASE CORP     PUBC US             0.4         (0.9)      (1.2)
PURETECH HEALTH   PRTCGBX EU          -            -          -
PURETECH HEALTH   PRTCL B3            -            -          -
PURETECH HEALTH   PRTC LN             -            -          -
PURETECH HEALTH   PRTCL PO            -            -          -
PURETECH HEALTH   PRTCL L3            -            -          -
QUALITY DISTRIBU  QLTY US           413.0        (22.9)     102.9
QUALITY DISTRIBU  QDZ GR            413.0        (22.9)     102.9
QUINTILES TRANSN  QTS GR          3,341.8       (701.7)     866.0
QUINTILES TRANSN  Q US            3,341.8       (701.7)     866.0
RAYONIER ADV      RYAM US         1,261.0        (51.1)     188.6
RAYONIER ADV      RYQ GR          1,261.0        (51.1)     188.6
REGAL ENTERTAI-A  RGC* MM         2,590.9       (890.9)    (107.2)
REGAL ENTERTAI-A  RETA GR         2,590.9       (890.9)    (107.2)
REGAL ENTERTAI-A  RGC US          2,590.9       (890.9)    (107.2)
RENAISSANCE LEA   RLRN US            57.0        (28.2)     (31.4)
RENTECH NITROGEN  RNF US            328.0        (73.5)      43.7
RENTECH NITROGEN  2RN GR            328.0        (73.5)      43.7
RENTPATH INC      PRM US            208.0        (91.7)       3.6
REVLON INC-A      RVL1 GR         1,926.6       (629.2)     322.1
REVLON INC-A      REV US          1,926.6       (629.2)     322.1
RURAL/METRO CORP  RURL US           303.7        (92.1)      72.4
RYERSON HOLDING   RYI US          1,855.4       (114.9)     681.2
RYERSON HOLDING   7RY GR          1,855.4       (114.9)     681.2
RYERSON HOLDING   7RY TH          1,855.4       (114.9)     681.2
SALLY BEAUTY HOL  SBH US          2,189.6       (190.2)     819.6
SALLY BEAUTY HOL  S7V GR          2,189.6       (190.2)     819.6
SANCHEZ ENERGY C  SN* MM          1,935.3        (53.1)     206.7
SANCHEZ ENERGY C  SN US           1,935.3        (53.1)     206.7
SANCHEZ ENERGY C  13S TH          1,935.3        (53.1)     206.7
SANCHEZ ENERGY C  13S GR          1,935.3        (53.1)     206.7
SBA COMM CORP-A   SBAC US         7,751.9     (1,133.2)      30.4
SBA COMM CORP-A   SBJ TH          7,751.9     (1,133.2)      30.4
SBA COMM CORP-A   SBJ GR          7,751.9     (1,133.2)      30.4
SBA COMM CORP-A   SBACEUR EU      7,751.9     (1,133.2)      30.4
SCIENTIFIC GAM-A  SGMS US         9,486.5       (260.1)     741.2
SCIENTIFIC GAM-A  TJW GR          9,486.5       (260.1)     741.2
SEARS HOLDINGS    SEE TH         13,186.0       (906.0)   2,092.0
SEARS HOLDINGS    SEE GR         13,186.0       (906.0)   2,092.0
SEARS HOLDINGS    SHLD US        13,186.0       (906.0)   2,092.0
SECTOR 5 INC      SECT US             0.0         (0.0)      (0.0)
SILVER SPRING NE  9SI TH            517.9       (104.9)     (38.1)
SILVER SPRING NE  9SI GR            517.9       (104.9)     (38.1)
SILVER SPRING NE  SSNI US           517.9       (104.9)     (38.1)
SIRIUS XM CANADA  XSR CN            297.1       (132.8)    (177.9)
SIRIUS XM CANADA  SIICF US          297.1       (132.8)    (177.9)
SLEEP COUNTRY CA  1S2 GR              1.5         (0.9)      (1.2)
SLEEP COUNTRY CA  ZZZ CN              1.5         (0.9)      (1.2)
SPIN MASTER -SVC  SP9 GR            280.5        (52.3)    (156.7)
SPIN MASTER -SVC  TOY CN            280.5        (52.3)    (156.7)
SPORTSMAN'S WARE  06S GR            325.9        (24.2)      81.4
SPORTSMAN'S WARE  SPWH US           325.9        (24.2)      81.4
STINGRAY - SUB V  RAY/A CN          128.2        (17.8)     (41.0)
STINGRAY DIG-VSV  RAY/B CN          128.2        (17.8)     (41.0)
SUPERVALU INC     SJ1 GR          4,491.0       (561.0)     (77.0)
SUPERVALU INC     SJ1 TH          4,491.0       (561.0)     (77.0)
SUPERVALU INC     SVU US          4,491.0       (561.0)     (77.0)
SYNERGY PHARMACE  SGYP US           164.8        (21.9)     147.2
SYNERGY PHARMACE  SGYPEUR EU        164.8        (21.9)     147.2
SYNERGY PHARMACE  S90 GR            164.8        (21.9)     147.2
SYNTHETIC BIOLOG  SYN US             11.8        (13.7)     (13.8)
THERAVANCE        HVE GR            462.1       (294.0)     231.7
THERAVANCE        THRX US           462.1       (294.0)     231.7
THRESHOLD PHARMA  THLD US            73.9        (26.3)      46.6
THRESHOLD PHARMA  NZW1 GR            73.9        (26.3)      46.6
TRANSDIGM GROUP   TDG US          8,350.4     (1,169.0)   1,349.8
TRANSDIGM GROUP   T7D GR          8,350.4     (1,169.0)   1,349.8
TRINET GROUP INC  TNET US         1,557.0         (7.9)      50.7
TRINET GROUP INC  TN3 GR          1,557.0         (7.9)      50.7
TRINET GROUP INC  TNETEUR EU      1,557.0         (7.9)      50.7
TRINET GROUP INC  TN3 TH          1,557.0         (7.9)      50.7
UNISYS CORP       UISCHF EU       2,163.6     (1,455.9)     177.2
UNISYS CORP       UIS US          2,163.6     (1,455.9)     177.2
UNISYS CORP       UIS1 SW         2,163.6     (1,455.9)     177.2
UNISYS CORP       USY1 TH         2,163.6     (1,455.9)     177.2
UNISYS CORP       USY1 GR         2,163.6     (1,455.9)     177.2
UNISYS CORP       UISEUR EU       2,163.6     (1,455.9)     177.2
VECTOR GROUP LTD  VGR GR          1,462.8         (1.7)     514.4
VECTOR GROUP LTD  VGR US          1,462.8         (1.7)     514.4
VECTOR GROUP LTD  VGR QT          1,462.8         (1.7)     514.4
VENOCO INC        VQ US             598.9       (151.0)     207.6
VERISIGN INC      VRSN US         2,570.7       (994.3)     (15.0)
VERISIGN INC      VRS TH          2,570.7       (994.3)     (15.0)
VERISIGN INC      VRS GR          2,570.7       (994.3)     (15.0)
VERIZON TELEMATI  HUTC US           110.2       (101.6)    (113.8)
VERSEON CORP      VSN LN              -            -          -
VIRGIN MOBILE-A   VM US             307.4       (244.2)    (138.3)
W&T OFFSHORE INC  WTI US          2,085.0         (0.8)     (95.1)
W&T OFFSHORE INC  UWV GR          2,085.0         (0.8)     (95.1)
WEIGHT WATCHERS   WTWEUR EU       1,341.2     (1,347.5)    (207.2)
WEIGHT WATCHERS   WW6 TH          1,341.2     (1,347.5)    (207.2)
WEIGHT WATCHERS   WW6 GR          1,341.2     (1,347.5)    (207.2)
WEIGHT WATCHERS   WTW US          1,341.2     (1,347.5)    (207.2)
WEST CORP         WSTC US         3,549.9       (625.9)     265.3
WEST CORP         WT2 GR          3,549.9       (625.9)     265.3
WESTERN REFINING  WNRL US           441.6        (27.7)      66.8
WESTERN REFINING  WR2 GR            441.6        (27.7)      66.8
WESTMORELAND COA  WLB US          1,777.6       (422.8)      40.1
WESTMORELAND COA  WME GR          1,777.6       (422.8)      40.1
WINGSTOP INC      EWG GR            117.4        (17.4)       6.0
WINGSTOP INC      WING US           117.4        (17.4)       6.0
WINMARK CORP      GBZ GR             45.3        (41.5)      11.5
WINMARK CORP      WINA US            45.3        (41.5)      11.5
WYNN RESORTS LTD  WYR GR          9,283.0       (110.7)     860.6
WYNN RESORTS LTD  WYR TH          9,283.0       (110.7)     860.6
WYNN RESORTS LTD  WYR QT          9,283.0       (110.7)     860.6
WYNN RESORTS LTD  WYNNCHF EU      9,283.0       (110.7)     860.6
WYNN RESORTS LTD  WYNN SW         9,283.0       (110.7)     860.6
WYNN RESORTS LTD  WYNN US         9,283.0       (110.7)     860.6
WYNN RESORTS LTD  WYNN* MM        9,283.0       (110.7)     860.6
XERIUM TECHNOLOG  TXRN GR           578.2        (95.4)      75.9
XERIUM TECHNOLOG  XRM US            578.2        (95.4)      75.9
YRC WORLDWIDE IN  YRCW US         1,968.6       (445.2)     200.4
YRC WORLDWIDE IN  YEL1 TH         1,968.6       (445.2)     200.4
YRC WORLDWIDE IN  YEL1 GR         1,968.6       (445.2)     200.4


                            *********

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 ***