TCR_Public/151014.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, October 14, 2015, Vol. 19, No. 287

                            Headlines

ALPHA NATURAL: Creditors' Committee Files Rule 2019 Statement
ALPHA NATURAL: Seeks to Continue Prepetition Retention Programs
AMERICAN APPAREL: Oct. 15 Meeting Set to Form Creditors' Panel
AMERICAN APPAREL: Will Keep Production in U.S.
ATLANTIC & PACIFIC: Gets Green Light for $40M Wakefern Auction

ATLANTIC & PACIFIC: UFCW Steps Up Effort to Help Workers
BAHA MAR: Resort to Open Early 2016, Bahamian PM Says
BARRY KELLERMAN: IRA Not Exempted, District Court Says
BERNARD L. MADOFF: Upcoming Trial to Test Investors' Defense
CACHE INC: Seeks Authority to Sell Visa/Mastercard Claim

CAPITAL ONE FINC'L: Fitch Affirms 'BB' Preferred Stock Rating
CBL & ASSOCIATES: Fitch Affirms 'BB' Preferred Stock Rating
CCNG ENERGY: Case Summary & 20 Largest Unsecured Creditors
CCNG ENERGY: Hires Taube Summers as Counsel
CCNG ENERGY: Seeks Joint Administration of Cases

CCNG ENERGY: Wants Nov. 9 Deadline for Schedules and Statements
CITY SPORTS: Oct. 15 Meeting Set to Form Creditors' Panel
CONSTAR INT'L: Dechert Says $80 Million Fraud Suit Still Faulty
CRP-2 HOLDINGS: Trial on Contested Ch. 11 Plan Starts Jan. 11
CW CAPITAL: Gun Bo Suit Summarily Dismissed

DELL INC: Moody's Puts 'Ba2' CFR Under Review for Upgrade
DELL INC: S&P Affirms 'BB+' Corp. Credit Rating, Outlook Stable
DEWEY & LEBOEUF: Jury in Trial Returns Another Partial Verdict
DRYSHIPS INC: Nasdaq Approves Request to Transfer Stock Listing
DUNE ENERGY: Columbus Field Shut After Buyer Backs Out

EDWARD MANDEL: Snell & Wilmer Wants Racketeering Suit Dismissed
EMERALD OIL: Lenders Reduce Debt by 40%
ESTATE FINANCIAL: Heading to Chapter 7 Absent Plan by Oct. 31
FLINTKOTE COMPANY: Amended Joint Plan Declared Effective
GEO V HAMILTON INC: 20 Law Firms with Largest Asbestos Claimants

GOSPEL LIGHT: Asset Bankruptcy Auction Scheduled for Oct. 27
GRASS VALLEY: Court Approves Daniel C. Ford as Real Estate Agent
GTA REALTY II: Full-Payment Plan Okayed, Substantially Consummated
GTA REALTY II: Receiver Proposes Final Accounting & Discharge
HANGER INC: S&P Withdraws 'BB-' Corporate Credit Rating

HAROLD OSTENSON: Wash. Supreme Court Rules in Suit v. Pac-O
HAVERHILL CHEMICALS: Assets Slated for Oct. 22 Auction
HEALTH REPUBLIC: NY Regulators to Shut Down Co-op
HERCULES OFFSHORE: Baker Botts Approved as Bankruptcy Counsel
HERCULES OFFSHORE: Morris Nichols Approved as Delaware Co-Counsel

HORSESHOE CASINO: Jones' Bid to Modify Automatic Stay Denied
HOVENSA LLC: Hires White & Case as Special Counsel
HOVENSA LLC: Paid Over $1.6MM to Top 3 Officers in 2014
HOVENSA LLC: Wins Court Approval for Auction
K & C LV INVESTMENTS: Case Summary & Largest Unsecured Creditor

KEEN EQUITIES: Files Chapter 11 Plan; Disclosures Hearing Oct. 22
LYONDELL CHEMICAL: Court Rules in Favor of LR2 in Clawback Suit
MAGNUM NETWORKS: Case Summary & 20 Largest Unsecured Creditors
MARY D. SLAEY: Ruling on Defaulted Loan Claim Reversed
MILAGRO OIL: Court Confirms Ch. 11 Plan of Reorganization

MINERAL PARK: Settles Disputes with Admin. Agent, Evercore
MONTREAL MAINE: U.S. Judge Approves Great American Settlement
MONTREAL MAINE: U.S. Judge Enters Plan Confirmation Order
MONTREAL MAINE: Wins Partial Summary Dismissal of Wheeling Suit
NAVIOS ACQUISITION: Moody's Raises CFR to B2, Outlook Stable

NEW CENTURY MORTGAGE: US Bank Wins Summary Judgment in "Koufos"
NEWARK WATERSHED: Sues Ex-Employees Over Bankruptcy Claims
PASTA BAR BY SCOTTO: Voluntary Chapter 11 Case Summary
PLASKOLITE LLC: Moody's Assigns B2 CFR, Outlook Stable
PSL-NORTH AMERICA: To File Ch. 11 Plan Before Oct. 26

RADIOSHACK CORP: Court Set to Hear Bid for Class Certification
REGENT PARK: Directed to Disburse $1.3MM to PlainsCapital Bank
RESPONSE GENETICS: $14M Sale to Cancer Genetics Closed
ROBSTOWN, TX: Fitch Cuts 2003 GO Bonds Rating to 'BB+'
SHOWBOAT ATLANTIC: Stockton Univ. Has Sunk Nearly $8-Mil. in Casino

SIGA TECHNOLOGIES: PricewaterhouseCoopers Approved as Auditor
STAR COMPUTER: Case Summary & 20 Largest Unsecured Creditors
STAR COMPUTER: Files for Chapter 11 to Sell Remaining Assets
STAR COMPUTER: Files Schedules of Assets and Liabilities
STAR COMPUTER: Hires Kozyak Tropin as Bankruptcy Counsel

STAR COMPUTER: Seeks to Employ GlassRatner as Financial Advisor
SVS HOLDINGS: Dist. Court Clarifies Bankr. Court Authority
SWJ HOLDINGS: Order Converting Case to Ch. 7 Affirmed
TAYLOR-WHARTON INT'L: Oct. 16 Meeting Set to Form Creditors' Panel
TAYLOR-WHARTON: Plans Auction for CryoScience Biz. on Nov. 11

TAYLOR-WHARTON: Seeks Interim OK of $10.8-Mil. Revolver Loan
TAYLOR-WHARTON: Wants to Pay $2 Million to Critical Vendors
TELX GROUP: S&P Raises Corp. Credit Rating From 'B-'
TERRAFORM POWER: Moody's Affirms Ba3 CFR, Outlook Stable
U.S. STEEL: Court Approves Canadian Unit's Separation

WALTER ENERGY: Ernst & Young Approved as Auditors & Tax Advisors
WALTER ENERGY: Hires Ogletree Deakins as Special Counsel
[*] CFPB et al. Issue Framework to Govern Student Loan Market
[*] Fitch Says 2015 US HY Default Rate Outlook Boosted to 3.5%
[*] High Court Told Alter-Ego Tax Case Doesn't Warrant Review

[*] NJ High Court to Rule on Priority of Riker Danzig Claim

                            *********

ALPHA NATURAL: Creditors' Committee Files Rule 2019 Statement
-------------------------------------------------------------
Alpha Natural Resources Inc.'s official committee of unsecured
creditors disclosed in a court filing the seven creditors appointed
by the U.S. trustee to serve on the panel.

The unsecured creditors are CB Mining Inc., Computershare Trust
Company N.A., Computershare Trust Company of Canada, MUFG Union
Bank, Nelson Brothers LLC, Pension Benefit Guaranty Corp., United
Mine Workers of America, and the United Mine Workers of America
l974 Pension Plan and Trust.

The members hold certain disclosable economic interests against the
estates of Alpha Natural and its affiliates arising from a variety
of business relationships, according to the filing.

The committee made the disclosure pursuant to Rule 2019 of the
Federal Rules of Bankruptcy Procedure.

The committee is represented by:

     Milbank, Tweed, Hadley & McCloy LLP
     Dennis F. Dunne
     Evan R. Fleck
     Eric K. Stodola
     28 Liberty Street
     New York, NY 10005
     Telephone: (212) 530-5000

                      About Alpha Natural

Alpha Natural -- http://www.alphanr.com-- is a coal supplier,
ranked second largest among publicly traded U.S. coal producers as
measured by 2014 consolidated revenues of $4.3 billion.  

Alpha Natural Resources, Inc. (Bankr. E.D. Va. Case No. 15-33896)
and its affiliates filed separate Chapter 11 bankruptcy petitions
on Aug. 3, 2015, listing $9.9 billion in total assets as of June
30, 2015, and $7.3 billion in total liabilities as of June 30,
2015.  The petition was signed by Richard H. Verheij, executive
vice president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the case.

David G. Heiman, Esq., Carl E. Black, Esq., and Thomas A. Wilson,
Esq., at Jones Day serve as the Debtors' general counsel.

Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P. (Toby) Long, III,
Esq., and Justin F. Paget, Esq., serve as the Debtors' local
counsel.  Rothschild Group is the Debtors' financial advisor.
Alvarez & Marshal Holdings, LLC, is the Debtors' investment banker.
  Kurtzman Carson Consultants, LLC, is the Debtors' claims and
noticing agent.

The U.S. Trustee for Region 4 appointed seven creditors of Alpha
Natural Resources Inc. to serve on the official committee of
unsecured creditors.  Sands Anderson PC, and Milbank, Tweed, Hadley
& Mccloy LLP, represents the Committee; Jefferies LLC, serves as
its investment banker; and Protiviti Inc., serves as its financial
advisor.



ALPHA NATURAL: Seeks to Continue Prepetition Retention Programs
---------------------------------------------------------------
Alpha Natural Resources, Inc., et al. seek authority from the
United States Bankruptcy Court for the Eastern District of
Virginia, Richmond Division, to continue their prepetition
retention programs for non-insider employees in the ordinary course
of business and establish a discretionary pool for the payment of
future retention obligations to non-insider employees.

The Debtors explain that they maintained separate retention
agreements with each of their approximately 143 key employees.  The
compensation provided to the key employees through the retention
program is an important and integral element of their overall wage
and benefit packages, the Debtors tell the Court.  The elimination
of, or failure to pay obligations under, the retention program
would amount to a substantial pay cut for these employees, the
Debtors say.

The Debtors have suffered substantial attrition of key employees in
recent years.  The Debtors believe that many members of the core
group of critical employees would view the Debtors' failure to make
payments under the retention program as pay cut, which likely would
cause them to reconsider their respective commitments to the
Debtors, the Debtors add.

The Debtors enter into, perform under, renew and replace retention
agreements in the ordinary course of their business.  The
continuation of the retention program as to the key employees and
the entry into and funding of similar retention agreements, as
necessary in the Debtors' discretion, clearly are consistent with
the Debtors' prepetition business practices, the Debtors tell the
Court.

The responsibilities of even those key employees with titles are
limited to the management of personnel and operations within
specific departments of the Debtors' business.  None of the key
employees: (a) participate in the general management of any of the
Debtors; (b) report to the Debtors' boards; (c) sit on the
management committee; or (d) otherwise direct or influence
corporate policy or action.

David G. Heiman, Esq., at Jones Day, in Cleveland, Ohio, asserts
that the Debtors' decision to continue the retention program and to
implement the discretionary pool is a valid exercise of their
business judgment.   The retention program is reasonable in terms
of the objectives it seeks to achieve, its cost and its scope. In
addition, the retention program was developed and refined over an
extended period on an as-needed basis for the key employees, in
response to market forces.  The establishment of the discretionary
pool will permit the Debtors to continue renewing or replacing
their retention agreements or entering into new retention
agreements, as necessary, consistent with past practice, Mr. Heiman
further asserts.

Alpha Natural Resources, Inc., et al., are represented by:

          David G. Heiman, Esq.
          Carl E. Black, Esq.
          Thomas A. Wilson, Esq.
          JONES DAY
          North Point
          901 Lakeside Avenue
          Cleveland, OH 44114
          Tel: (216) 586-3939
          Fax: (216) 579-0212
          Email: dgheiman@jonesday.com
                 ceblack@jonesday.com
                 tawilson@jonesday.com

             -- and --

          Tyler P. Brown, Esq.
          J.R. Smith, Esq.
          Henry P. (Toby) Long, III, Esq.
          Justin F. Paget, Esq.
          HUNTON & WILLIAMS LLP
          Riverfront Plaza, East Tower
          951 East Byrd Street
          Richmond, VA 23219
          Tel: (804) 788-8200
          Fax: (804) 788-8212
          Email: tpbrown@hunton.com
                 jrsmith@hunton.com
                 hlong@hunton.com
                 jpaget@hunton.com

                       About Alpha Natural

Alpha Natural -- http://www.alphanr.com/-- is a coal supplier,
ranked second largest among publicly traded U.S. coal producers as
measured by 2014 consolidated revenues of $4.3 billion.  

Alpha Natural Resources, Inc. (Bankr. E.D. Va. Case No. 15-33896)
and its affiliates filed separate Chapter 11 bankruptcy petitions
on Aug. 3, 2015, listing $9.9 billion in total assets as of June
30, 2015, and $7.3 billion in total liabilities as of June 30,
2015.  The petition was signed by Richard H. Verheij, executive
vice president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the case.

David G. Heiman, Esq., Carl E. Black, Esq., and Thomas A. Wilson,
Esq., at Jones Day serve as the Debtors' general counsel.

Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P. (Toby) Long, III,
Esq., and Justin F. Paget, Esq., serve as the Debtors' local
counsel.  Rothschild Group is the Debtors' financial advisor.
Alvarez & Marshal Holdings, LLC, is the Debtors' investment banker.
Kurtzman Carson Consultants, LLC, is the Debtors' claims and
noticing agent.

The U.S. Trustee for Region 4 appointed seven creditors of Alpha
Natural Resources Inc. to serve on the official committee of
unsecured creditors.


AMERICAN APPAREL: Oct. 15 Meeting Set to Form Creditors' Panel
--------------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, will hold an
organizational meeting on October 15, 2015, at 11:00 a.m. in the
bankruptcy case of American Apparel, Inc., et al.

The meeting will be held at:

         Sheraton Suites Wilmington Downtown
         422 Delaware Ave.
         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.



AMERICAN APPAREL: Will Keep Production in U.S.
----------------------------------------------
American Apparel management had no plans to move manufacturing
operations from Los Angeles to offshore locations, and that the
restructuring that lies ahead will enable the Company to keep
production in the U.S., SupplyChainDigest reports, citing the
Company's CEO, Paula Schneider.

SupplyChainDigest relates that many Wall Street analysts seem to
think that the Company is simply out of touch in trying to keep
most of its production in the Los Angeles area.  The report quoted
investment banking firm Greif & Co. chief executive Lloyd Greif as
saying, "There is too much emphasis being placed in having things
made in America," but the Company needs to move offshore, "if they
want to survive."

According to the report, financial site Seeking Alpha equities
analyst and contributor Josh Arnold said, "This manufacturing model
makes no sense.  It costs way too much money."

                    About American Apparel

American Apparel, Inc., American Apparel (USA), LLC,  American
Apparel Retail, Inc., American Apparel Dyeing & Finishing, Inc.,
KCL Knitting, LLC and Fresh Air Freight, Inc. sought Chapter 11
bankruptcy protection (Bankr. D. Del. Proposed Lead Case No.
15-12055) on Oct. 5, 2015.  The petition was signed by Hassan
Natha as chief financial officer.

The Debtors reported total assets of $199,360,934 and total
liabilities of $397,576,744.

The Debtors and their non-Debtor affiliates operate a vertically
integrated manufacturing, distribution, and retail business focused
on branded fashion-basic apparel, employing approximately 8,500
employees across six manufacturing facilities and approximately 230
retail stores in the United States and 17 other countries
worldwide.

The Debtors have engaged Jones Day as restructuring counsel,
Pachulski Stang Ziehl & Jones LLP as local counsel, Moelis &
Company as investment banker, FTI Consulting, Inc. as financial
advisor, DJM Real Estate as real estate consultant and Garden City
Group, LLC as claims and noticing agent.


ATLANTIC & PACIFIC: Gets Green Light for $40M Wakefern Auction
--------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that a New York
bankruptcy judge cleared the way on Oct. 7, 2015, for the owner of
A&P supermarkets to sell its interest in a dozen grocery store
properties to competitor Wakefern Food Corp. for at least  $40
million, as A&P continues its plan to shrink its operations in
Chapter 11.

According to Associated Press, a New York bankruptcy court has
already approved A&P's plan to auction off 118 stores that the
company said are valued at nearly $566 million.

                     About Atlantic & Pacific

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

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

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

The Debtor disclosed total assets of $601,441,108 and total
liabilities of $1,984,459,086 as of the Petition Date.

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

The U.S. Trustee for Region 2 appointed seven creditors to serve
On the official committee of unsecured creditors.
Pachulski Stang Ziehl & Jones LLP serves as its counsel, and Zolfo
Cooper, LLC as serves as its financial advisors and bankruptcy
consultants.

Elise S. Frejka was appointed as consumer privacy ombudsman.


ATLANTIC & PACIFIC: UFCW Steps Up Effort to Help Workers
--------------------------------------------------------
Rhonda Smith, writing for Bloomberg News, reported that the United
Food and Commercial Workers is stepping up its effort to help
grocery store workers affected by Great Atlantic & Pacific Tea
Co.'s bankruptcy, saying in a statement Oct. 9 that an auction to
sell the stores had ended, and "it is likely that all unsold stores
will close within the coming weeks."

According to the report, the international UFCW and the Retail,
Wholesale and Department Store Union, an affiliate, said, "We are
completely committed to helping UFCW/RWDSU members endure through
this extremely difficult period."  Within the past week, UFCW
representatives began hosting job resource fairs for workers slated
to be laid off in November, the report related.  The union said it
also is joining forces with state labor department officials in New
York, New Jersey and Pennsylvania "to ensure that all of our
displaced members have access to the tools that are designed to
help people through tough times like these," the report further
related.

                     About Atlantic & Pacific

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

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

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

The Debtor disclosed total assets of $601,441,108 and total
liabilities of $1,984,459,086 as of the Petition Date.

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

The U.S. Trustee for Region 2 appointed seven creditors to serve
On the official committee of unsecured creditors.  Pachulski Stang
Ziehl & Jones LLP serves as its counsel, and Zolfo Cooper, LLC as
serves as its financial advisors and bankruptcy consultants.

Elise S. Frejka was appointed as consumer privacy ombudsman.


BAHA MAR: Resort to Open Early 2016, Bahamian PM Says
-----------------------------------------------------
Dawn McCarty and John Lippert, writing for Bloomberg News, reported
that Baha Mar, the $3.5 billion Bahamas resort at the center of a
bitter bankruptcy dispute, will open early next year if Prime
Minister has anything to say about it.

According to the report, Perry Christie Christie voiced confidence
in an Oct. 9 interview that talks by Baha Mar, the state-owned
China Construction America Inc. and the Export-Import Bank of China
will yield an agreement allowing workers to finish the mega-resort.
Court-appointed provisional liquidators and representatives of the
Bahamian government are also involved in the discussions, the
report related.

"Whilst there is still work to be done, it is clear that all
involved are focused on quickly reaching a viable solution to
ensure that the Baha Mar resort is able to open for business for
the benefit of all stakeholders, including the Bahamian people,"
the liquidators said in a statement, the Bloomberg report cited.

"At the end of the day the Bahamas must come out with that resort
open and functioning and must be open early next year at the
latest," the Bloomberg report cited Christie as saying.

                       About Baha Mar

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

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

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

                            *     *     *

In September 2015, Judge Carey dismissed the Chapter 11
proceedings
filed in the Delaware court by Baha Mar chief executive officer
Sarkis Izmirlian, ruling in favor of the contractor on the
project,
China Construction America (CCA), and its financier, the China
Export-Import Bank (CEXIM); but denied the motion to dismiss
Northshore Mainland Services, Inc.'s bankruptcy case.


BARRY KELLERMAN: IRA Not Exempted, District Court Says
------------------------------------------------------
District Judge J. Leon Holmes for the Eastern District of Arkansas
tossed an appeal by Barry K Kellerman and Dana M Kellerman from an
order of the U.S. Bankruptcy Court for the Eastern District of
Arkansas sustaining the objections by the trustee, Randy Rice, and
by Arvest Bank to the debtors' claim of an exemption for Barry
Kellerman's individual retirement account. The bankruptcy court
found that the IRA had entered into transactions with Panther
Mountain Land Development, LLC, that were prohibited by the
Internal Revenue Code and therefore the Kellermans could not claim
the IRA as exempt.

Prior to filing for bankruptcy protection, Barry Kellerman created
the IRA, which had a reported value as of October 27, 2008, of
$252,112.67. The administrator of the IRA is Entrust Mid South,
LLC.  The IRA is self-directed by Barry Kellerman who made all of
the decisions pertinent to the issues raised in the objections.  At
the commencement of their bankruptcy case, the Kellermans valued
the IRA at $180,000 and claimed it as exempt under 11 U.S.C. Sec.
522(d)(12).

Arvest and the Trustee objected to the debtors' claimed exemption
in the IRA because, they contended, it was no longer exempt from
taxation under the Internal Revenue Code at the commencement of the
case and thus was not eligible under 11 U.S.C. Sec. 522(d)(12).
They argued that the IRA lost its exempt status in 2007 when Barry
Kellerman directed the IRA to engage in prohibited transactions
involving disqualified persons as defined by the Internal Revenue
Code.

The District Court affirms the bankruptcy court's decision that the
IRA is not an exempt property.  A copy of the District Court's
September 14, 2015 Memorandum Opinion is available at
http://is.gd/mB8mqrfrom Leagle.com.

The bankruptcy case is, In Re: Barry K. and Dana M. Kellerman
Bankruptcy No. 4:09-bk-13935 (Bankr. E.D. Ark.).

The case before the District Court is, BARRY K. KELLERMAN and DANA
M. KELLERMAN Appellants, v. RANDY RICE, Trustee; and ARVEST BANK
Appellees, NO. 4:15CV00347 JLH (E.D. Ark.).


BERNARD L. MADOFF: Upcoming Trial to Test Investors' Defense
------------------------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reported that a trial this week could test a legal defense that
Bernard Madoff's former investors have raised to block litigation
that seeks to claw back the millions of dollars they received
during Mr. Madoff's Ponzi scheme.

According to the report, on Oct. 14, Andrew H. Cohen, a former
investor and employee of Mr. Madoff's, is expected to defend
against a lawsuit brought by Irving Picard, the trustee charged
with tracking down stolen funds and returning them to investors who
lost money as a result of the fraud.  The lawsuit against Mr. Cohen
aims to recover $1.14 million he received before the Ponzi scheme
came crashing down in December 2008, the report related.

                    About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC and Bernard L. Madoff
orchestrated the largest Ponzi scheme in history, with losses
topping US$50 billion.  On Dec. 15, 2008, the Honorable Louis A.
Stanton of the U.S. District Court for the Southern District of
New York granted the application of the Securities Investor
Protection Corporation for a decree adjudicating that the
customers
of BLMIS are in need of the protection afforded by the Securities
Investor Protection Act of 1970.  The District Court's Protective
Order (i) appointed Irving H. Picard, Esq., as trustee for the
liquidation of BLMIS, (ii) appointed Baker & Hostetler LLP as his
counsel, and (iii) removed the SIPA Liquidation proceeding to the
Bankruptcy Court (Bankr. S.D.N.Y. Adv. Pro. No. 08-01789)
(Lifland,
J.).  Mr. Picard has retained AlixPartners LLP as claims agent.

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The petitioning creditors -- Blumenthal &
Associates Florida General Partnership, Martin Rappaport
Charitable Remainder Unitrust, Martin Rappaport, Marc Cherno, and
Steven Morganstern -- assert US$64 million in claims against  Mr.
Madoff based on the balances contained in the last statements they
got from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).  The Chapter 15 case was later
transferred to Manhattan.  In June 2009, Judge Lifland approved
the consolidation of the Madoff SIPA proceedings and the
bankruptcy
case.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to 150
years of life imprisonment for defrauding investors in United
States v. Madoff, No. 09-CR-213 (S.D.N.Y.).

From recoveries in lawsuits coupled with money advanced by SIPC,
Mr. Picard has commenced  distributions to victims.  As of the end
of May 2015, the SIPA Trustee has recovered more than $10.699
billion and has distributed approximately $7.576 billion.  When
additional settlements awaiting distribution are taken into
account, the recovery in the Madoff liquidation proceeding totals
$10.734 billion.


CACHE INC: Seeks Authority to Sell Visa/Mastercard Claim
--------------------------------------------------------
Cache, Inc., et al., ask approval from the United States Bankruptcy
Court for the District of Delaware to sell all of their rights,
title and interests in the claim held by Cache, Inc., in the class
action captioned In Re Payment CaNd Interchange Fee and Merchant
Discount Antitrust Litigation, Case No. 1:OS-md-01720-JG-JO
("Visa/Mastercard Claim").

Numerous merchants, retailers and trade associations was commenced
the Visa/MasterCard Case in the United States District Court for
the Eastern District of New York against, among other entities,
Visa U.S.A. Inc., and MasterCard International Inc.  The Plaintiffs
allege that since January 1, 2004, the Defendants conspired
unlawfully to fix the price of "interchange fees" and other fees
charged to merchants for transactions processed over the Visa and
MasterCard networks.  In October 2012, the parties executed a
settlement agreement, which provides for, among other things, the
creation of two cash funds totaling up to an estimated $7.25
billion (before reductions for opt-outs).

Although no determination has yet been made as to whether Cache
qualifies as a class member of either the Cash Settlement Class or
the Rule Changes Settlement Class in the Visa/MasterCard Case,
given Cache's use of the MasterCard and Visa systems as a merchant,
the Debtors believe that Cache may have a Visa/MasterCard Claim in
the litigation.  The Debtors are unable to determine an exact value
of the Visa/MasterCard Claim at this time, although the
Visa/MasterCard Claim could exceed the Purchase Price.

The Debtors propose to conduct an auction to maximize the value of
the Visa/Mastercard Claim.

Andrew R. Vara, Acting United States Trustee for Region 3, objected
to Debtors' motion, stating that he remains concerned about the
continued administrative insolvency of Cache's estate, and the
potential for unequal or preferential distributions to some
administrative claimants while ignoring others.  The U.S. Trustee
asked that the Court order Cache to sequester the proceeds from the
proposed sale, net of actual sales costs, and that the proceeds not
be disbursed pending further order of the Court.  To the extent
Cache's estate is administratively insolvent, the sales proceeds
referred to in the Motion will provide a fund from which unpaid
administrative expenses may be paid in full or part, particularly
the post-petition health care claims of former employees, the U.S.
Trustee said.  Without such an order, the anticipated sales
proceeds will be dissipated or continue to be dissipated all to the
prejudice of unpaid administrative claimants, the U.S. Trustee
asserted.

Great American Group WF, LLC, also filed a limited objection,
stating that because the superpriority administrative claim of
Great American has priority over any and all administrative claims
in these cases, including, without limitation, those asserted by
the former employees of the Debtors or any other interested party,
all proceeds of the proposed sale should be paid to Great American
at the closing of the proposed sale.  Accordingly, Great American
objected to the Sale Motion to the extent that the proceeds of the
proposed sale are not paid to Great American at closing.  In light
of the limited remaining assets in the Debtors' bankruptcy estates
and the current circumstances, Great American is concerned
regarding the conduct of the proposed sale and the auction.

Cache, Inc. et al. are represented by:
  
          Laura Davis Jones, Esq.
          David M. Bertenthal, Esq.
          Joshua M. Fried, Esq.
          Colin R. Robinson, Esq.
          Peter J. Keane, Esq.
          PACHULSKI STANG ZIEHL & 70NES LLP
          919 North Market Street, 17th Floor
          P.O. Box 8705
          Wilmington, DE 19899-8705
          Tel: 302-652-4100
          Fax: 302-652-4400
          Email: ljones@pszjlaw.com
                 dbertenthal@pszjlaw.com
                 jfried@pszjlaw.com
                 crobinson@pszjlaw.com
                 pkeane@pszjlaw.com

Andrew R. Vara, Acting United States Trustee, Region Three is
represented by:

          David L. Buchbinder, Esq.
          Hannah Mufson McCollum, Esq.
          Trial Attorney
          J. Caleb Boggs Federal Building
          844 King Street, Suite 2207, Lockbox 35
          Wilmington, DE 19801
          Tel: (302) 573-6491
          Fax: (302) 573-6497
          
Great American Group WF, LLC is represented by:

          Richard A. Robinson, Esq.
          REED SMITH LLP
          1201 N. Market Street, Suite 1500
          Wilmington, DE 19801
          Tel: (302) 778-7500
          Fax: (302) 778-7575
          Email: rrobinson@reedsmith.com

                     About Cache, Inc.

Cache, Inc., which operates 236 women's apparel specialty stores
under the trade name "Cache," and its two affiliates sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Case No.15-10172) on Feb. 4, 2015. The case is assigned to Judge
Mary F. Walrath.

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

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

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

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


CAPITAL ONE FINC'L: Fitch Affirms 'BB' Preferred Stock Rating
-------------------------------------------------------------
Fitch Ratings has affirmed Capital One Financial Corporation's
(COF) ratings at 'A-/F1'.  The Rating Outlook remains Stable.

The rating action follows a periodic review of the large regional
banking group, which includes BB&T Corporation (BBT), Capital One
Finance Corporation (COF), Comerica Incorporated (CMA), Fifth Third
Bancorp (FITB), Huntington Bancshares Inc. (HBAN), Keycorp (KEY),
M&T Bank Corporation (MTB), MUFG Americas Holding Corporation
(MUAH), PNC Financial Services Group (PNC), Regions Financial
Corporation (RF), SunTrust Banks Inc. (STI), US Bancorp (USB),
Wells Fargo & Company (WFC), and Zions Bancorporation (ZION).

Company-specific rating rationales for the other banks are
published separately, and for further discussion of the large
regional bank sector in general, refer to the special report titled
'Large Regional Bank Periodic Review,' to be published shortly.

KEY RATING DRIVERS

IDRs, VRs, AND SENIOR DEBT

The affirmation of COF's ratings continues to be supported by
strong earnings performance, which over time has remained above the
average of its large regional peer group. In Fitch's view, this is
largely driven by COF's comparatively higher net interest margin,
given the company's comparatively higher yielding asset mix
relative to peer banks. This has also been boosted by higher
interchange revenue over the last year, as COF has benefited from
higher purchase volumes from its customer base.

COF also boasts a relatively good efficiency ratio relative to peer
banks which has also helped to support its earnings performance.
While COF's 2Q15 earnings were impacted by a large restructuring
charge, the charge was primarily due to management's efficiency
initiatives, which are focused on making the company a more
digitally driven enterprise. Over time, Fitch believes this
strategy will contribute to making COF's business model more
scalable and therefore help maintain its strong earnings
performance.

Fitch views COF's capital ratios as near the average of some peer
banks. However, given COF's ability to accrete capital via growth
in retained earnings more quickly than some peers due to the
earnings power noted above helps to provide a buffer to these
ratios.

Fitch believes the long-term evolution of COF's funding profile to
be supportive to today's rating action. Over the last several
years, COF has moved away from a business model almost entirely
reliant on wholesale borrowings and securitizations to one being
almost entirely reliant on core deposit funding via a mix of
organic deposit growth and acquisitions.

Although COF has a combination of traditional branch banking
deposits and internet based deposits, COF's internet deposit
platform allows the company to offer more competitive deposit rates
than others who rely more heavily on a more expensive branch based
distribution model. It remains to be seen how deposit re-pricing
(deposit beta) dynamics will evolve in a rising interest rate
environment for banks like COF that rely more heavily on technology
based distribution model. To the extent that the deposit re-pricing
dynamics are more intense, it could make the company's interest
rate sensitivity more muted over a medium to longer-term time
horizon.

Credit quality for COF (as well as the rest of the industry) has
generally continued to improve, and Fitch believes is likely at or
near a cyclical trough. Fitch would expect some deterioration in
credit metrics going forward, which is incorporated in today's
rating action.

Fitch believes the potential for some credit deterioration is more
prevalent in the company's auto loan portfolio, where competition
continues to intensify particularly as some auto-manufacturer owned
lenders become more aggressive in the space. Additionally, areas
Fitch is watching for deterioration include COF's taxi medallion
lending portfolio and its energy loan portfolio.

SUBORDINATED DEBT AND OTHER HYBRID SECURITIES

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

LONG- AND SHORT-TERM DEPOSIT RATINGS

The uninsured deposit ratings of Capital One Bank (USA), National
Association (COBNA), Capital One National Association (CONA), and
Chevy Chase Bank, F.S.B. are rated one-notch higher than COF's IDR
and senior unsecured debt because U.S. uninsured deposits benefit
from depositor preference. U.S. depositor preference gives deposit
liabilities superior recovery prospects in the event of default.

HOLDING COMPANY

COF's IDR and VR are equalized with those of its operating
companies and bank, reflecting its role as the bank holding
company, which is mandated in the U.S. to act as a source of
strength for its bank subsidiaries. The ratings are also equalized
reflecting the very close correlation between holding company and
subsidiary failure and default probabilities.

SUBSIDIARY AND AFFILIATED COMPANY

The VRs of COBNA and CONA are equalized with COF's VR reflecting
Fitch's view that it is core to COF's business strategy and
financial profile.

SUPPORT RATING AND SUPPORT RATING FLOOR

COF has a Support Rating of '5' and Support Rating Floor of 'NF'.
In Fitch's view, COF is not systemically important and therefore,
the probability of support is unlikely. IDRs and VRs do not
incorporate any support.

RATING SENSITIVITIES

VR, IDRs, AND SENIOR DEBT

COF's ratings have remained largely stable over the last several
years and are well situated relative to its peer group.

Fitch believes there is likely only modest upwards rating potential
for COF's ratings at this time. From a creditor's perspective COF's
loan portfolio is more concentrated in credit cards and other
consumer assets relative to higher rated peer institutions. In
order for some upward rating momentum to build, Fitch believes COF
would need to develop a more diversified loan portfolio at a
measured pace with evidence of strong underwriting discipline and
appropriate risk controls to manage the diversification, all of
which may take some time to eventuate to the extent it ever does.

Alternatively, should COF's asset quality metrics deteriorate
faster than industry averages or should funding costs accelerate at
a rate faster than industry averages there could be some negative
pressure on ratings or the Rating Outlook over a medium to longer
term time horizon.

Additionally, while Fitch views favorably management's strategy of
transforming COF into an even more digitally driven enterprise as
it should enhance the company's economies of scale, to the extent
that this also makes the company more reliant on technology it has
the potential to increase some elements of operational risk. While
not anticipated, if a large operational loss were to occur, Fitch
would review COF's ratings at that time to determine if a negative
action were appropriate.

SUBORDINATED DEBT AND OTHER HYBRID SECURITIES

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

LONG- AND SHORT-TERM DEPOSIT RATINGS

The long-and short-term deposit ratings are sensitive to any change
to COF's long-and short-term IDR.

HOLDING COMPANY

Should COF's holding company begin to exhibit signs of weakness,
demonstrate trouble accessing the capital markets, or have
inadequate cash flow coverage to meet near-term obligations, there
is the potential that Fitch could notch the holding company IDR and
VR from the ratings of the operating companies.

RATING SENSITIVITIES - SUBSIDIARY AND AFFILIATED COMPANY

As the IDRs and VRs of the subsidiaries are equalized with those of
COF to reflect support from their ultimate parent, they are
sensitive to changes in the parent's propensity to provide support,
which Fitch currently does not expect, or from changes in COF's
IDRs.

To the extent that one of COF's subsidiary or affiliated companies
is not considered to be a core business, Fitch could also notch the
subsidiary's rating from COF's IDR.

SUPPORT RATING AND SUPPORT RATING FLOOR

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

FULL LIST OF RATING ACTIONS

Fitch has affirmed the following ratings:

Capital One Financial Corporation

-- Long-term IDR at 'A-'; Outlook Stable;
-- Short-term IDR at 'F1';
-- Viability at 'a-';
-- Senior unsecured debt at 'A-';
-- Senior Shelf at 'A-'
-- Subordinated debt at 'BBB+';
-- Preferred stock at 'BB';
-- Support at '5';
-- Support Floor at 'NF'.

Capital One Bank (USA), National Association

-- Long-term IDR at 'A-'; Outlook Stable;
-- Short-term IDR at 'F1';
-- Viability at 'a-';
-- Senior unsecured debt at 'A-';
-- Subordinated debt at 'BBB+';
-- Short-term debt at 'F1';
-- Long-term deposits at 'A';
-- Short-term deposit at 'F1';
-- Support at '5';
-- Support Floor at 'NF'.

Capital One National Association

-- Long-term IDR at 'A-'; Outlook Stable;
-- Short-term IDR at 'F1';
-- Viability at 'a-';
-- Senior unsecured debt at 'A-';
-- Subordinated debt at 'BBB+';
-- Short-term debt at 'F1';
-- Long-term deposits at 'A';
-- Short-term deposit at 'F1';
-- Support at '5';
-- Support Floor at 'NF'.

Chevy Chase Bank, F.S.B

-- Long-term deposits at 'A'.

North Fork Bancorporation, Inc.

-- Subordinated debt at 'BBB+'.



CBL & ASSOCIATES: Fitch Affirms 'BB' Preferred Stock Rating
-----------------------------------------------------------
Fitch Ratings has affirmed the ratings of CBL & Associates
Properties, Inc. (NYSE: CBL) and its operating partnership, CBL &
Associates Limited Partnership (collectively, CBL) including CBL's
'BBB-' long-term IDR. The Rating Outlook is Stable.

KEY RATING DRIVERS

The ratings reflect CBL's large, well-diversified portfolio of
predominantly regional mall assets, appropriate fixed-charge
coverage for the rating, and adequate financial flexibility
supported by a growing pool of unencumbered assets.

These strengths are tempered by challenging cash flow growth
prospects in CBL's lower-productivity malls, slightly high leverage
for the rating, expected weakening in unencumbered asset coverage
of unsecured debt, uncertain access to the unsecured bond market
and execution risk associated with the company's asset
repositioning strategy over the next several years.

The company has limited downside headroom in the 'BBB-' rating if
negative credit events occur, such as a modest increase in
leverage, weakening in the coverage of unsecured debt by
unencumbered assets, the inability of the company to reduce secured
debt via unsecured bond issuances and a reduction in the company's
liquidity coverage ratio. Negative momentum could also result from
sector-specific headwinds such as further deterioration in the
liquidity or financeability of 'B' malls.

'ONLY GAME IN TOWN' STRATEGY

The average CBL property is located 25 miles from its nearest major
competitor and 91% of mall net operating income (NOI) is derived
from market-dominant or only game in town malls. This middle-market
strategy creates NOI stability and provides barriers to entry given
the modest populations in these regions generally do not support
multiple regional malls or major retail centers. The company's
ongoing redevelopment strategy also enhances asset quality and
deters new competition from entering respective markets.
Nonetheless, Fitch does consider whether other forms of retail such
as big-box, outlets and e-commerce could increasingly act as a form
of competition to 'only game in town' malls thereby pressuring
same-store net operating income (SSNOI) in future periods.

SOLID DIVERSITY BY GEOGRAPHY AND TENANT

St. Louis is CBL's largest market at only 7.8% of 2014 revenues,
while the top five markets generated 20.3% of revenues. L Brands,
Inc. is the company's largest tenant, having generated 3.3% of
annualized revenues at June 30, 2015 with the top 10 generating
only 20%. Further, more than 71% of revenues are generated from
tenants that individually contribute less than 1% of annual
revenue. This granularity insulates CBL's cash flows from large
swings due to regional economic weakness and credit risk at the
tenant level.

STRONGER PERFORMANCE RELATIVE TO 'B-MALL' PEERS

CBL's SSNOI growth underperformed mall REITs broadly by 150 basis
points (bps) on average over the past 10 years (1% vs. 2.5%).
Underperformance has been somewhat secular though, as broader
'Class B' operators have underperformed 'Class A' landlords by 250
bps during this span, highlighting the lower growth prospects and
recent operational challenges for lower-productivity centers.
However, CBL outperformed 'B' mall peers by 120 bps, attributed to
CBL's 'only game in town' strategy and strong franchise value.

GROWTH AUGEMENTED BY TENANT REPLACEMENT STRATEGY & TEMPERED BY
OCCUPANCY LOSSES

Small-shop leasing spreads for stabilized malls increased 12.6%
during 2014 and 9.8% for 1H'15, driven by a 32.8% improvement on
new leases and 3.6% on renewals for the six months ended June 30,
2015. CBL's tenant replacement strategy drove outsized growth on
new leases, replacing weaker-performing retailers on short-term,
percentage-heavy rents with tenants generating higher sales
productivity. Fitch views this strategy favorably despite the
downtime that can arise prior to new tenants occupying the space.

Despite good releasing spreads, the company's portfolio has
recently suffered from vacancies due to inline tenant bankruptcies.
This dynamic partially weighed on the relatively soft 0.4% SSNOI
growth for 1H'15. Fitch expects 1% SSNOI growth in both 2015 and
2016, respectively, driven by the commencement of new leases signed
in 2014 and 2015 and contractual rent escalators, offset by tenant
vacancies.

INVESTMENT-GRADE CREDIT METRICS; SLIGHTLY HIGH LEVERAGE

CBL's leverage was 6.6x at June 30, 2015, as compared with 6.6x and
6.7x as of Dec. 31, 2014 and 2013, respectively. Headline LTM
leverage is elevated due to the acquisition of Mayfaire Town Center
towards the end of 2Q'15. Pro forma for the acquisition, leverage
is 6.5x. Fitch expects that leverage will remain in the high 6.0x's
into 2017, driven by low single-digit SSNOI growth and asset sales,
offset by (re)development spending. Fitch defines leverage as debt
net of readily available cash divided by recurring operating
EBITDA.

Fixed-charge coverage was 2.2x for the trailing 12 months (TTM)
ended June 30, 2015, and Fitch expects it to remain around this
level over the next 12-24 months. Fitch defines fixed-charge
coverage as recurring operating EBITDA, less recurring capital
expenditures and straight-line rent adjustments, divided by total
interest incurred and preferred dividends.

EVOLVING ACCESS TO UNSECURED DEBT CAPITAL

CBL raised $300 million via an unsecured bond offering in October
2014 and $450 million via its inaugural unsecured bond offering in
November 2013, and Fitch expects the company will attempt to access
the bond market annually to repay secured debt. However, the
company's announcement on Sept. 29, 2015 that it elected not to
proceed with an announced unsecured bond offering due to market
conditions highlights challenges of REITs that own less favored
portfolios in more volatile credit market environments. The
inability or unwillingness of the company to access the unsecured
bond market on a consistent basis could have negative implications
on the company's ratings or Outlook. CBL's persistently above
average line of credit balances makes it increasingly more impacted
by its ability to access the unsecured and secured bond markets.

The company's secured debt/total debt ratio declined to 65.7% at
June 30, 2015 from 69.9% and 76.4% as of Dec. 31, 2014 and Dec. 31,
2013, respectively. Fitch expects the ratio will decline to below
50% by year-end 2016 as the company continues to unencumber its
real estate portfolio, improving financial flexibility.

ENHANCED UNENCUMBERED ASSET POOL; WEAKENING UA/UD COVERAGE

Fitch expects CBL to continue to unencumber properties encompassing
over $1.8 billion of gross asset value during 2015-2017, furthering
the company's strategy to grow and improve the asset quality in the
unencumbered pool. Unencumbered assets (calculated using a stressed
9% cap rate on 2Q'15 unencumbered NOI) covered net unsecured debt
by 1.9x at June 30, 2015, which is slightly low for the rating.
Fitch expects that coverage will decline through 2017 to
approximately 1.7x as the company unencumbers higher-leveraged
assets, below Fitch's 2x sensitivity for negative momentum.

SECURED MATURITIES WEIGH ON LIQUIDITY

CBL's base case liquidity ratio of 0.8x through 2016-end is
slightly low for the rating and constrained by more than $500
million of 2016 pro rata mortgage maturities, which Fitch expects
will be refinanced with unsecured debt. Fitch defines liquidity
coverage as sources of liquidity divided by uses of liquidity.
Sources of liquidity include unrestricted cash, availability under
unsecured revolving credit facilities, and projected retained cash
flow from operating activities after dividends. Uses of liquidity
include pro-rata debt maturities, expected recurring capital
expenditures, and remaining development costs.

ELEVATED LINE OF CREDIT USAGE

CBL's lines of credit have been 52% drawn on average since 2004
compared to 30% for the broader REIT sector, and was 35% drawn as
of June 30, 2015. Fitch does not expect the elevated balance to
impact credit quality in the near term, presuming an accommodating
capital markets environment that would enable the company to reduce
outstanding balances. The company's tolerance for higher line of
credit borrowings indicates more aggressive financial policies, and
liquidity risk would be materially amplified in a less hospitable
debt financing market similar to late 2008-2009.

ASSET SALES STRATEGY FACES EXECUTION RISK

CBL's asset repositioning strategy initially targeted 21 mature
lower-growth assets with an estimated portfolio value of $1.0-1.25
billion, representing approximately 15% of total NOI. The pace of
the company's divestitures has been relatively slow, as the company
has only sold $42.7 million of assets (four properties) since
announcing the disposition program in April 2014. Acquisition
demand for 'B' malls is uncertain, and Fitch expects that an
accommodating secured financing environment will be necessary to
enable dispositions.

PREFERRED STOCK NOTCHING

The two-notch differential between CBL's IDR and preferred stock
rating is consistent with Fitch's criteria for corporate entities
with an IDR of 'BBB-'.

STABLE OUTLOOK

The Stable Outlook is driven by Fitch's expectation that CBL's
credit profile will remain appropriate for the rating, although
Fitch anticipates that CBL could breach one or more of the negative
rating sensitivities noted below under 'Rating Sensitivities.'

KEY ASSUMPTIONS

Fitch's key assumptions within our rating case for CBL include:

-- SSNOI growth of approximately 1% in 2015, followed by 1%
    annual growth in 2016-2017;

-- Development/redevelopment spend of $250-330 million annually
    in 2015-2017. The weighted average initial yield on cost for
    projects coming online is approximately 8%;


-- $150 million of non-core asset sales for the remainder of
    2015, followed by $40 million in the aggregate in 2016-2017.
    The forecasted capitalization rate is 7-9% given the lower-
    productivity nature of the assets;

-- Recurring capital expenditures of $100 million annually in
    2015-2017, reflecting the reduced real estate footprint given
    aforementioned asset sales.

RATING SENSITIVITIES

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

-- Failure to execute the asset repositioning strategy as a
    result of weaker liquidity in, or unattractive valuations of
    lower-tier properties;

-- Fitch's expectation of leverage sustaining above 7.0x
    (headline leverage at June 30, 2015 was 6.6x and 6.5x pro
    forma for June 2015 Mayfaire acquisition);

-- Fitch's expectation of fixed-charge coverage sustaining below
    1.8x (coverage for the TTM ended June 30, 2015 was 2.2x);

-- Reduced financial flexibility stemming from sustained high
    secured leverage and/or significant utilization under lines of

    credit;

-- Failure to maintain unencumbered asset coverage of unsecured
    debt (based on a stressed 9% cap rate) around 2.0x (coverage
    was 1.9x as of June 30, 2015).

While Fitch does not envision positive rating momentum in the near
term, the following factors may have a positive impact on CBL's
ratings and/or Outlook:

-- Fitch's expectation of leverage sustaining below 6.0x;

-- Fitch's expectation of fixed-charge coverage sustaining above
    2.5x.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the following ratings:

CBL & Associates Properties, Inc.
-- Long-term IDR at 'BBB-';
-- Preferred stock at 'BB'.

CBL & Associates Limited Partnership

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

The Rating Outlook is Stable.



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

   Debtor                                         Case No.
   ------                                         --------
   CCNG Energy Partners, L.P.                     15-70136
   13443 Highway 71 West
   Bee Cave, TX 78738

   Trinity Environmental SWD, L.L.C.              15-70135

   Moss Bluff Property, L.L.C.                    15-70137

   Trinity Environmental Catarina SWD, L.L.C.     15-70138

   Trinity Environmental Services, L.L.C.         15-70139

   Trinity Environmental Titan Trucking, L.L.C.   15-70140

   CCNG Energy Partners GP, L.L.C.                15-70141

Nature of Business: CCNG Energy Partners, L.P., through its
                    subsidiary, provides environmentally-
                    responsible non-hazardous oilfield waste
                    disposal services.

Chapter 11 Petition Date: October 12, 2015

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

Judge: Hon. Ronald B. King

Debtors' Counsel: Eric J. Taube, Esq.
                  Mark Curtis Taylor, Esq.
                  Cleveland R Burke, Esq.
                  Christopher G. Bradley, Esq.
                  TAUBE SUMMERS HARRISON TAYLOR MEINZER BROWN LLP
                  100 Congress Avenue, 18th Floor
                  Austin, TX 78701
                  Tel: 512-472-5997
                  Fax: 512-472-5248
                  Email: cburke@taubesummers.com
                         etaube@taubesummers.com
                         mtaylor@taubesummers.com
                         cbradley@taubesummers.com

Estimated Assets: $100 million to $500 million

Estimated Liabilities: $100 million to $500 million

The petition was signed by Daniel B. Porter, CEO of General
Partner.

List of CCNG Energy's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
BDO                                                    $505,980
PO BOX 31001 0860
PASADENA, CA 91110-0860

Simpson Thacher & Bartlett LLP                          $50,000

Latham & Watkins LLP                                    $23,688

Great American Insurance Co                             $23,115

Oil & Gas Information Systems                           $19,843

Grant Thornton LLP                                      $16,365

Deloitte Transactions & Bus An                          $10,192

Docvue LLC                                              $10,158

Realtime Zone Inc.                                       $5,587

Graves Dougherty Hearon & Mood                           $4,356

WM Shirley                                               $4,000

Bridgepoint Consulting                                   $3,750

Insight Direct USA Inc.                                  $3,038

Spanish Oaks Golf Club                                   $2,633

Office Mate                                              $2,431

Merrill Communications LLC                               $1,890

Full Circle Systems                                      $1,450

Time Warner Cable                                          $885

Konica Minolta Premier Finance                             $834

Piracle                                                    $677


CCNG ENERGY: Hires Taube Summers as Counsel
-------------------------------------------
CCNG Energy Partners, LP, et al., seek permission from the
Bankruptcy Court to employ Taube Summers Harrison Taylor Meinzer
Brown, LLP as counsel, nunc pro tunc to the Petition Date.

It is anticipated that the firm will:

   (a) advise the Debtors as to their rights and responsibilities;

   (b) take all necessary action to protect and preserve the
       estate of the Debtors including, if necessary, the
       prosecution of actions or adversary or other proceedings on

       the Debtors' behalf;

   (c) develop, negotiate and promulgate sales procedures for the
       assets of the Debtors;

   (d) prepare on behalf of the Debtors all necessary
       applications, motions, and other pleadings and papers in
       connection with the administration of the estate; and

   (e) perform all other legal services required by the Debtors in

       connection with the Chapter 11 cases.

The firm's hourly rates of attorneys range from $235 to $560.
Paralegal hourly rates range from $85 to $165.

The Debtors have agreed to reimburse the firm for all expenses it
incurred in connection with its representation.

The firm received a retainer of $250,000 on Sept. 3, 2015.  The
balance of the retainer as of the Petition Date was $225,568.

To the best of the Debtors' knowledge, the partners and associates
of Taube Summers do not have any connection with them, their
creditors, shareholders, or other parties-in-interest and the firm
represents no adverse interest.

                         About CCNG Energy

CCNG Energy Partners, L.P., Trinity Environmental SWD, L.L.C.,
Moss Bluff Property, L.L.C., Trinity Environmental Catarina SWD,
L.L.C., Trinity Environmental Services, L.L.C., Trinity
Environmental Titan Trucking, L.L.C., and CCNG Energy Partners GP,
L.L.C. filed Chapter 11 bankruptcy petitions (Bankr. W.D. Tex.
Proposed Lead Case No. 15-70136) on Oct. 12, 2015.  The petition
was signed by Daniel B. Porter as CEO of General Partner.

The Debtors estimated both assets and liabilities of $100 million
to $500 million.

Taube Summers Harrison Taylor Meinzer Brown LLP serves as the
Debtors' counsel.

Judge Ronald B. King is assigned to the case.


CCNG ENERGY: Seeks Joint Administration of Cases
------------------------------------------------
CCNG Energy Partners, LP, et al., seek joint administration of
their Chapter 11 bankruptcy cases under In re CCNG Energy Partners,
LP, Case No. 15-70136.  The Debtors believe that the issues in
their cases are the same.

Eric J. Taube, Esq., at Taube Summers Harrison Taylor Meinzer Brown
LLP, counsel to the Debtors, said "Joint administration of these
cases is appropriate under the circumstances and will aid in the
efficient administration of the cases.  The joint administration
will save time and expense by making it unnecessary to file
duplicate motions and conduct duplicate hearings."

The Debtors further request that (a) the Clerk of the Court
maintain one docket for all pleadings filed in these cases; (b) the
Clerk of the Court maintain one service list for the service of
pleadings, orders, and notices in theses cases; and (c) all
pleadings and other papers be filed under one case number.

                         About CCNG Energy

CCNG Energy Partners, L.P., Trinity Environmental SWD, L.L.C., Moss
Bluff Property, L.L.C., Trinity Environmental Catarina SWD, L.L.C.,
Trinity Environmental Services, L.L.C., Trinity Environmental Titan
Trucking, L.L.C., and CCNG Energy Partners GP, L.L.C. filed Chapter
11 bankruptcy petitions (Bankr. W.D. Tex. Proposed Lead Case No.
15-70136) on Oct. 12, 2015.  The petition was signed by Daniel B.
Porter as CEO of general partner.

The Debtors estimated both assets and liabilities of $100 million
to $500 million.

Taube Summers Harrison Taylor Meinzer Brown LLP serves as the
Debtors' counsel.

Judge Ronald B. King is assigned to the case.


CCNG ENERGY: Wants Nov. 9 Deadline for Schedules and Statements
---------------------------------------------------------------
CCNG Energy Partners, LP, et al., ask the Bankruptcy Court to
extend their deadline to file their schedules of assets and
liabilities and statements of financial affairs until Nov. 9,
2015.

"Due to the number of Debtors involved, the immediate business
needs of Debtors, and the limited financial personnel available to
compile the information necessary for the Schedules and Statements
of Financial Affairs, Debtors request a two-week extension," says
Eric J. Taube, Esq., at Taube Summers Harrison Taylor Meinzer Brown
LLP, attorney to the Debtors.

                        About CCNG Energy

CCNG Energy Partners, L.P., Trinity Environmental SWD, L.L.C.,
Moss Bluff Property, L.L.C., Trinity Environmental Catarina SWD,
L.L.C., Trinity Environmental Services, L.L.C., Trinity
Environmental Titan Trucking, L.L.C., and CCNG Energy Partners GP,
L.L.C. filed Chapter 11 bankruptcy petitions (Bankr. W.D. Tex.
Proposed Lead Case No. 15-70136) on Oct. 12, 2015.  The petition
was signed by Daniel B. Porter as CEO of General Partner.

The Debtors estimated both assets and liabilities of $100 million
to $500 million.

Taube Summers Harrison Taylor Meinzer Brown LLP serves as the
Debtors' counsel.

Judge Ronald B. King is assigned to the case.


CITY SPORTS: Oct. 15 Meeting Set to Form Creditors' Panel
---------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, will hold an
organizational meeting on October 15, 2015, at 10:00 a.m. in the
bankruptcy case of City Sports, Inc., et al.

The meeting will 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.


CONSTAR INT'L: Dechert Says $80 Million Fraud Suit Still Faulty
---------------------------------------------------------------
Dani Meyer at Bankruptcy Law360 reported that Dechert LLP doubled
down on its bid to trim an $80 million adversary suit over the law
firm's alleged scheme to divert money to plastic bottle maker
Capsule's ex-bosses, telling a Delaware bankruptcy court Oct. 6,
2015, that Capsule neglected the suit's purported defects.

The firm said Capsule International Holdings LLC, formerly known as
Constar International LLC, had made little attempt in its
opposition brief to meaningfully apply its allegations to the
elements of its claims against Dechert.

                    About Constar International

Privately held Constar International Holdings and nine affiliated
debtors (nka Capsule International Holdings, et al.) filed for
Chapter 11 protection (Bankr. D. Del. Lead Case No. 13-13281) on
Dec. 19, 2013.

Constar, which manufactures plastic containers, is represented by
Michael J. Sage, Esq., Brian E. Greer, Esq., Stephen M. Wolpert,
Esq., and Janet Bollinger Doherty, Esq., at Dechert LLP; and
Robert
S. Brady, Esq., and Sean T. Greecher, Esq., at Young Conaway
Stargatt & Taylor, LLP.  Prime Clerk LLC serves as the Debtors'
claims and noticing agent, and administrative advisor.  Lincoln
Partners Advisors LLC serves as the Debtors' financial advisor.

Judge Christopher S. Sontchi oversees the 2013 case.

This is Constar International's third bankruptcy.  Constar first
filed for Chapter 11 protection (Bankr. D. Del. Lead Case No.
08-13432) in December 2008, with a pre-negotiated Chapter 11 Plan
and emerged from bankruptcy in May 2009.  Constar and its
affiliates returned to Chapter 11 protection (Bankr. D. Del. Case
No. 11-10109) on Jan. 11, 2011, with a pre-negotiated Chapter 11
plan and emerged from bankruptcy in June 2011.

The new petition listed assets worth less than $100 million
against
$123 million on three layers of secured debt.

Attorneys at Brown Rudnick LLP represent the official committee of
unsecured creditors.  The Committee retained Alvarez & Marsal
North
America LLC as its financial advisor.

Counsel to Wells Fargo Capital Finance, LLC, the revolving loan
agent, is Andrew M. Kramer, Esq., at Otterbourg P.C.

On Feb. 10, 2014, the Bankruptcy Court authorized Constar to sell
certain assets to Plastipak Packaging, Inc., a global manufacturer
of rigid plastic packaging.  The Court determined that Plastipak's
$102,450,000 offer for the Debtors' U.S. assets bested the offers
from Amcor Rigid Plastics USA, Inc., and Envases Universales De
Mexico S.A.P.I. De C.V. during a Feb. 6 auction.

Separately, the Court authorized Constar to sell a facility in
Havre de Grace, Maryland, to Smucker Natural Foods, Inc., for $3
million.  There was no other bidder for the Maryland facility.

The sole director of debtor Constar International U.K. Limited
appointed Daniel Francis Butters and Nicolas Guy Edwards of
Deloitte LLP as administrators.  The U.K. Administration
Proceeding
follows the closing of the sale of the U.K. assets to Sherburn
Acquisition Limited.  The Delaware Bankruptcy Judge authorized the
U.S. Debtors to sell the U.K. Assets to Sherburn for GBP3,512,727,
(or US$7,046,000), less the deposit in the sum of US$1,250,000.

Secured lender Black Diamond Commercial Finance, LLC, as DIP note
agent, and Wells Fargo Capital Finance, LLC, as DIP revolving agent
and agent under the revolving loan facility, consented to the
administration of Constar U.K. and the appointment of the Joint
Administrators.

In view of the asset sales in the U.S. and the U.K., the Debtors
changed their corporate trade names -- and with the Bankruptcy
Court's consent, their bankruptcy case caption -- to Capsule Group
Holdings, Inc.; Capsule Intermediate Holdings, Inc.; Capsule Group,
Inc.; Capsule International LLC; Capsule DE I, Inc.; Capsule DE II,
Inc.; Capsule PA, Inc.; Capsule Foreign Holdings, Inc.; and Capsule
International U.K. Limited (Foreign).

Christopher R. Murray of Diamond McCarthy LLP, serves as special
litigation counsel for the Constar bankruptcy estate.


CRP-2 HOLDINGS: Trial on Contested Ch. 11 Plan Starts Jan. 11
-------------------------------------------------------------
Judge Donald R. Cassling has granted the motion of U.S. Bank, N.A.
to delay the start of the confirmation hearing and trial of CRP-2
Holdings AA, L.P.'s contested Chapter 11 Plan of Reorganization
from Jan. 4, 2016, to Jan. 11, 2016.

Judge Cassling has ordered interested parties to confer, and
prepare and file with the court on or before Jan. 4, 2016, a joint
document captioned "Pretrial Statement."

The trial/evidentiary/contested hearing is scheduled for Jan. 11,
2016, at 10:00 a.m., Jan. 12 at 1:00 p.m., Jan. 13 at 10:00 a.m.,
Jan. 19 at 1:00 p.m., Jan. 20 at 10:00 a.m. and Jan. 21 at 10:00
a.m.

An eight-day plan confirmation trial had been scheduled to commence
on Jan. 4, the first business day following the New Year's holiday.
Under the expedited confirmation schedule, substantive briefing on
plan confirmation is not expected to conclude until Dec. 23, 2015.
U.S. Bank, in its capacity as trustee for the registered holders of
J.P. Morgan Chase Commercial Mortgage Securities Trust 2006-LDP9,
Commercial Mortgage Pass-Through Certificates, Series 2006-LDP9, by
and through CWCapital Asset Management LLC, solely in its capacity
as special servicer, accordingly sought a delay of the plan
hearings until Jan. 11.  It pointed out that given the complexities
of the case and the sheer number of properties involved -- 32
buildings spread over 4 states -- it will take more than a week of
intense final effort to prepare for the confirmation hearings.

While the Court has set a Jan. 11 start date of the confirmation
hearing, the parties still dispute the deadlines by which discovery
is to be concluded and various pleadings and papers filed with the
Court.  According to an Oct. 5 filing, U.S. Bank has proposed (i)
an Oct. 14 deadline for plan supplement documents, including any
amended and restated credit documents, (ii) that the Debtor's
expert witnesses be available for deposition on Nov. 23 to 24 and
30 and Dec. 1 to 4, and (ii) a Dec. 11 deadline to complete expert
discovery, and (iii) an earlier Dec. 23, 2015 deadline for a joint
pre-trial statement.

The Debtor originally sought an October 2015 hearing on the
disclosure statement and Plan.  U.S. Bank, however, opposed a quick
confirmation schedule, citing that given the deep subordination
proposed by the Plan, it must have an adequate opportunity to
prepare its opposition to confirmation.

                       The Chapter 11 Plan

The Debtor on July 21, 2015, filed a proposed Plan of
Reorganization that contemplates the payment in full of all
creditors, including the $152 million in outstanding obligations
under the secured credit facility.  The Debtor believes there is
significant equity value in its business.  The Debtor's owner,
Colony Realty Partners II REIT ("REIT), is confident enough in this
value that they are prepared to infuse a minimum of $10 million in
additional equity in to the Debtor and its operations, with
additional possible investments of up to $30 million in their sole
and absolute discretion.

Under the Plan:

   -- Administrative claims will be paid in full in cash on the
Effective Date, and priority tax claims estimated at $1.3 million
will be reinstated.

   -- Other priority claims (Class 1) will be paid in full in
cash.

   -- Other secured claims (Class 2), if any, will be reinstated.

   -- The $152 million in secured credit facility claims (Class 3)
secured by 32 office and warehouse buildings will be satisfied with
a restructured loan in the full face amount of all outstanding
obligations plus accrued interest.

  -- General unsecured claims (Class 4) estimated at $1.4 million
will be paid in full on the 90th day after the Effective Date.

  -- The GP interests (Class 5) and the LP interests (Class 6) will
be reinstated, subject and subordinate to the preferred equity to
be issued to REIT on account of its new money investment.

The Debtor on Sept. 25, 2015, amended its July 21 Disclosure
Statement. A copy of the Amended Disclosure Statement is available
for free at:

        http://bankrupt.com/misc/CRP-2_H_137_Am_DS.pdf

U.S. Bank's attorneys:

         Gregory A. Cross, Esq.
         Frederick W. H. Carter, Esq.
         Catherine Guastello Allen, Esq.
         VENABLE LLP
         750 East Pratt Street, Ste. 900
         Baltimore, MD 21202
         Tel: (410) 244-7446
         Fax: (410) 244-7742
         E-mail: gacross@venable.com
                 fwhcarter@venable.com
                 cgallen@venable.com

               - and -

         Faye B. Feinstein, Esq.
         QUARLES & BRADY LLP
         300 N. LaSalle Street, Ste. 4000
         Chicago, IL 60654
         Tel: (312) 715-5000
         Fax: (312) 715-5155
         E-mail: faye.feinstein@quarles.com

                       About CRP-2 Holdings

CRP-2 Holdings AA, L.P., a Delaware limited partnership that was
formed in May 2006 for the primary purpose of acquiring and
managing real property.  CRP-2 is controlled by Colony Realty
Partners GP II, LLC.  Between May and October of 2006, CRP-2
acquired 14 properties for a total purchase price of $286,732,400,
financing approximately 60% of the purchase price with proceeds
from a $171 million secured credit facility with JPMorgan Chase
Bank.  The Debtor at present owns 10 properties consisting of six
office buildings and 26 industrial buildings located in and around
Chicago, Washington D.C., Boston and New Jersey.

CRP-2 Holdings filed a Chapter 11 bankruptcy petition (Bankr. N.D.
Ill. Case No. 15-24683) on July 21, 2015.  Judge Donald R. Cassling
is assigned to the case.

The Debtor disclosed total assets of $171,349,208 and total
liabilities of $166,637,095.

The Debtor tapped FrankGecker LLP as counsel.

The official committee of unsecured creditors tapped Sugar
Felsenthal Grais & Hammer LLP as substitute counsel effective as of
Sept. 21, 2015.


CW CAPITAL: Gun Bo Suit Summarily Dismissed
-------------------------------------------
Judge Daniel P. Collins of the United States Bankruptcy Court for
the District of Arizona granted the Motion for Summary Judgment
filed by David Reaves, Chapter 7 Trustee of the CW Capital Fund One
bankruptcy estate, and denied plaintiff Gun Bo LLC's Motion for
Summary Judgment.

On July 15, 2009, the state court ruled in favor of Gun Bo against
CW Capital Fund One, LLC, and others, and entered judgment in the
amount of $5.6 million plus interest on a breach of guaranty claim.
Gun Bo recorded the judgment on August 3, 2009.

On August 27, 2012, Gun Bo sued Westpark One, LLC, and CWI Investor
Holdings Three, LLC, to avoid CW Capital's transfer of a parcel of
land to Westpark, and the Deed of Trust with which Westpark
encumbered the property in favor of CWI.  Gun Bo recorded a lis
pendens on August 28.  After Westpark and CW Capital filed for
bankruptcy, Gun Bo removed the state court fraudulent-transfer suit
to the bankruptcy court as an adversary proceeding.

Reaves intervened on behalf of CW Capital's bankruptcy estate and
moved for summary judgment on the issue of ownership of the claims.
Gun Bo cross-moved for summary judgment.

Judge Collins found that the transfer was not void ab initio as to
Gun Bo and no court avoided it prior to CW Capital's bankruptcy
filing.  As such, Judge Collins held that the parcel of land was
not real property of CW Capital at the time that Gun Bo recorded
its judgment, and such recording did not create a lien on the
property.  The Judge stated that Gun Bo had no prepetition
equitable lien against the property and that Gun Bo is an unsecured
creditor.

Judge Collins then concluded that CW Capital's estate's interst in
the property is superior to any interest of Gun Bo.  The judge
ordered that the transfer and deed of trust be voided and that the
trustee be authorized to recover the property for the benefit of
the CW Capital estate.

The bankruptcy case is In re: WESTPARK ONE, LLC, Chapter 7
Proceedings, Debtor, CASE NO. 2:13-BK-02107-DPC (Bankr. D. Ariz.).

The adversary proceeding is GUN BO, LLC, Plaintiff, v. WESTPARK
ONE, LLC, and CWI INVESTOR HOLDINGS THREE, LLC, Defendants. DAVID
M. REAVES, Chapter 7 Trustee for the Estate of CW Capital Fund One,
LLC, Third-Party Plaintiff, v. GUN BO, LLC, and CWI INVESTOR
HOLDINGS THREE, LLC, Third-Party Defendants, ADVERSARY NO.
2:13-AP-00486-DPC (Bankr. D. Ariz.).

A full-text copy of Judge Collin's September 4, 2015 order is
available at http://is.gd/CirnPIfrom Leagle.com.

Gun Bo, LLC is represented by:

          Justin J. Henderson, Esq.
          Robert H. McKirgan, Esq.
          Brian J. Pollock, Esq.
          Marvin C. Ruth, Esq.
          LEWIS ROCA ROTHGERBER LLP
          201 East Washington Street Suite 1200
          Phoenix, AZ 85004
          Tel: (602) 262-5311
          Email: jhenderson@lrrlaw.com
                 rmckirgan@lrrlaw.com
                 bpollock@lrrlaw.com

            -- and --

          Stephen C. Rich, Esq.
          AIKEN SCHENK HAWKINS & RICCIARDI PC
          2390 E. Camelback Rd., Suite 400
          Phoenix, AZ 85016
          Tel: (602) 248-8203
          Fax: (602) 248-8840
          Email: scr@ashrlaw.com

Westpark One, LLC is represented by:

          Heather Ann Macre, Esq.
          AIKEN SCHENK HAWKINS & RICCIARDI P.C.
          2390 E. Camelback Rd., Suite 400
          Phoenix, AZ 85016
          Tel: (602) 248-8203
          Fax: (602) 248-8840
          Email: ham@ashrlaw.com

CWI Investor Holdings Three, LLC is represented by:

          Mark C. Hudson, Esq.
          SCHIAN WALKER, P.L.C.
          1850 N. Central Ave., Suite 900
          Phoenix, AZ 85004-4531
          Tel: (602) 277-1501
          Fax: (602) 297-9633
          Email: mhudson@swazlaw.com

David M. Reaves is represented by:

          Misty Weniger Weigle, Esq.
          REAVES LAW GROUP
          2999 N. 44th St, Ste 600
          Phoenix, AZ 85018
          Fax: (602) 241-0114

Westpark One, LLC, sought protection under Chapter 11 of the
Bankruptcy Code on February 15, 2013 (Bankr. D. Ariz., Case No.
13-02107).  The Debtor is represented by: Paul Sala, Esq., at
Allen, Sala & Bayne, PLC.


DELL INC: Moody's Puts 'Ba2' CFR Under Review for Upgrade
---------------------------------------------------------
Moody's Investors Service has placed all ratings of Dell Inc. and
Dell International (a debt issuing subsidiary of Dell Inc.),
including the corporate family rating of Ba2, under review for
upgrade following Dell's announcement that it signed a definitive
agreement to acquire EMC Corporation for $24.05 per share in cash
in addition to tracking stock linked to a portion of EMC's economic
interest in the VMware, Inc. for a total transaction value of about
$67 billion.

Dell plans to finance the cash portion of the transaction price
through a combination of new common equity, new debt financing and
cash on hand.  There are no financing conditions to closing the
transaction.  Michael Dell and related stockholders are expected to
own approximately 70 percent of the company's common equity,
excluding the tracking stock.  The transaction is subject to
customary conditions, including receipt of required regulatory and
EMC stockholder approvals.  Moody's expects to conclude the review
upon the close of the transaction, which is expected to occur in
the months of May to October 2016.

RATINGS RATIONALE

The rating review reflects Moody's view that despite the
significant increase in debt and initial leverage, Dell's overall
credit profile will be enhanced with the acquisition of EMC, a
merger that will create the largest private technology company in
the world based on revenues.  Upon the completion of the EMC
merger, Dell will have a leading global market position in personal
computers (the #3 market share), servers (#2), and data storage (#1
with market share about double that of the next competitor).

Moody's believes that Dell and EMC's combined product portfolio of
client, data center, and storage solutions (which includes VMware,
EMC's 78% owned software virtualization subsidiary), will position
Dell to compete effectively in a technology environment shifting to
hybrid cloud computing platforms.  Dell's profits and cash flow
should benefit from the increasing demand for computing capacity
and storage requirements to support growing digital solutions such
as mobility, social networking, multi-channel sales and marketing,
and data analytics.

A key driver for the review for upgrade is Michael Dell's
commitment to rapidly de-lever, which will be supported by Moody's
projected free cash flow of over $5.5 billion in calendar year
2017.  Similar to what transpired after the leveraged buyout of
Dell in 2013, Moody's believes that the company will allocate a
majority of its cash flow to debt repayment.  Accordingly, Moody's
expects that adjusted debt to EBITDA will decrease to below 4x by
the end of calendar year 2017.

Moody's review will focus on Dell's ability to integrate EMC and
execute its enterprise centric business strategy.  The review will
also consider the potential impact this acquisition could have on
customers, suppliers, and employees.  In addition, Moody's will
also assess the new capital structure (e.g., the mix of secured
versus unsecured debt and the rights of the tracking stock holders)
and the combined liquidity profile, including the timing and
magnitude of any asset sales, cost reduction plans, and post deal
synergies.  Moody's expects that any upgrade of Dell's CFR would
likely be limited to one notch upon the close of the transaction.

Rating Actions:

Ratings On Review for Upgrade (LGD assessments subject to change):

Issuer: Dell Inc.

  Corporate Family Rating, Ba2, Placed on Review for Upgrade

  Probability of Default Rating, Ba2-PD, Placed on Review for
   Upgrade

  Senior Unsecured Regular Bond/Debenture (Local Currency), Ba3,
   LGD5, Placed on Review for Upgrade

Outlook Actions:

Issuer: Dell Inc.

  Outlook, Changed To Rating Under Review From Stable

Issuer: Dell International LLC

  Senior Secured Bank Credit Facility (Foreign Currency), Ba1,
   LGD2, Placed on Review for Upgrade

  Senior Secured Bank Credit Facility (Local Currency), Ba1, LGD2,

   Placed on Review for Upgrade

  Senior Secured Regular Bond/Debenture (Local Currency) due 2020,

   Ba1, LGD2, Placed on Review for Upgrade

Outlook Actions:

Issuer: Dell International LLC

  Outlook, Changed To Rating Under Review From Stable

The principal methodology used in these ratings was Global
Technology Hardware published in October 2010.

Dell Inc. is one of the world's leading providers of personal
computers, servers, and related devices.



DELL INC: S&P Affirms 'BB+' Corp. Credit Rating, Outlook Stable
---------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB+'
corporate credit rating on Round Rock, Texas-based Dell Inc.  The
outlook is stable.

At the same time, S&P placed its 'BBB' rating on the senior secured
credit facilities of Dell International LLC, a wholly-owned
subsidiary of Dell, on CreditWatch with negative implications.  S&P
also placed its 'BB+' rating on Dell's senior unsecured notes on
CreditWatch with negative implications.  Details of the financing
terms, including the amount of total debt issuance, the amounts of
secured compared to unsecured debt, and the amounts to be issued at
each borrowing entity (with possible structural subordination of
existing Dell and EMC senior unsecured notes) have not been
disclosed.

In addition, S&P placed its 'A' corporate credit rating on
Hopkinton, Mass.-based EMC Corp. on CreditWatch with negative
implications.  S&P also placed the 'A' rating on EMC's senior
unsecured notes and the 'A-1' short-term rating on the company's
commercial paper program on CreditWatch with negative
implications.

"The affirmation of the corporate credit rating on Dell reflects
the company's improved business risk profile as we view the
acquisition of EMC strengthens Dell's existing product portfolio to
include market leadership positions in PC, servers, storage, and
virtualization software, enhances Dell's position as a critical IT
business partner with its customers and supply chain partners,
improves the company's profitability profile as a result of better
product mix, and also enables the opportunities for revenue and
cost synergies," said Standard & Poor's credit analyst David Tsui.


Offsetting this factor is S&P's view that the transaction will
weaken the company's financial risk profile due to higher debt
leverage.  Although the transaction should yield cost synergies to
the company, the combination of Dell's and EMC's sales forces could
present integration challenges.

The outlook on Dell is stable, reflecting S&P's view that Dell will
be able to successfully integrate its acquisition of EMC, maintain
market leadership, achieve its cost savings goals, possibly sell
non-core assets, and also repay debt, leading to pro forma leverage
declining to the low-3x area one year after the transaction close.

S&P would lower its rating on Dell if the company experiences
acquisition integration challenges, leading to significantly
weaker-than-expected revenue growth and profitability and adjusted
leverage exceeding 4x.

S&P would raise its rating on the company to 'BBB-' if the company
is able to execute its plan of achieving the expected cost savings
and repay debt, leading to leverage sustained below 3x.

"We will continue to monitor the developments and resolve the
CreditWatch of the rating on EMC as soon as sufficient information
related to the capital structure becomes available, which we expect
shortly prior to the close of the transaction.  We will resolve the
CreditWatch status once the transaction between EMC and Dell
closes, at which time we expect to withdraw our corporate credit
rating and short-term credit rating on EMC, and continue to rate
EMC's senior unsecured notes as part of Dell's capital structure,"
S&P said.



DEWEY & LEBOEUF: Jury in Trial Returns Another Partial Verdict
--------------------------------------------------------------
Sara Randazzo, writing for Dow Jones' Daily Bankruptcy Review,
reported that a jury of seven women and five men made some progress
on Oct. 13 toward reaching a verdict in the financial fraud trial
against three ex- Dewey & LeBoeuf LLP leaders but continues to
grapple with the most serious charges facing the trio.

According to the DBR report, in the second partial verdict
delivered in the past week, the jurors cleared the former law firm
executives of a handful of additional falsifying business records
counts.  The jury still needs to reach a decision on more than 90
counts, including grand larceny, conspiracy and scheme to defraud,
the DBR pointed out.

Matthew Goldstein, writing for The New York Times' Dealbook,
reported that the jury acquitted the defendants, Steven H. Davis,
Stephen DiCarmine and Joel Sanders, of more than three dozen
charges of falsifying business records at the once-prominent law
firm.  The men are charged with overseeing a scheme to manipulate
Dewey’s financial records to persuade banks and investors to
continue providing financing to the firm, which filed for
bankruptcy in May 2012, the Dealbook related.

The second partial verdict in a week makes the possibility of a
mistrial more likely, especially since the deliberations were cut
short because one juror was sick and said he had dozed off in the
jury room, the DealBook report.  But Justice Robert M. Stolz of New
York State Supreme Court in Manhattan told the jurors he wanted
them to continue trying to reach a verdict on the remaining counts,
the report said.

                      About Dewey & LeBoeuf

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

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

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

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

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

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

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

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

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

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


DRYSHIPS INC: Nasdaq Approves Request to Transfer Stock Listing
---------------------------------------------------------------
DryShips Inc., a global provider of marine transportation services
for drybulk cargoes, and through its affiliate, Ocean Rig UDW Inc.,
of off-shore contract drilling oil services, on Oct. 13 disclosed
that it received a positive determination from the Nasdaq Stock
Market granting approval of the Company's request to transfer its
listing to the Nasdaq Capital Market from the Nasdaq Global Select
Market.

The Company's securities was set to begin trading on the Nasdaq
Capital Market effective at the start of trading on Tuesday,
October 13, 2015.  The Company's shares will continue to trade on
Nasdaq under the symbol "DRYS."  The Nasdaq Capital Market is a
continuous trading market that operates in substantially the same
manner as the Nasdaq Global Select Market, and listed companies
must meet certain financial requirements and comply with Nasdaq's
corporate governance requirements.

As previously reported, DryShips was notified by Nasdaq on April
13, 2015, that it no longer satisfied the minimum bid price
requirement for continued listing of $1.00 per share, as set forth
in Nasdaq Listing Rule 5450(a)(1).  In anticipation of not meeting
the minimum bid price requirement by October 12, 2015, the end of
its initial 180-day grace period, the Company applied to transfer
the listing of its stock to the Nasdaq Capital Market.  As a result
of the transfer to the Capital Market, the Company is being
afforded an additional 180-day grace period to regain compliance
with the Nasdaq's minimum bid price requirement.  In order to
regain compliance, the minimum bid price per share of the Company's
common stock must be at least $1.00 for at least ten consecutive
business days during the additional 180-day grace period, which
will end on April 11, 2016.  If the Company fails to regain
compliance during this grace period, the Company's common stock
will be subject to delisting by Nasdaq.  The Company has provided
written notice of its intention to cure the minimum bid price
deficiency during the second grace period by effecting a reverse
stock split, if necessary.

                      About DryShips Inc.

Dryships Inc. is a provider of ocean transportation services for
drybulk and petroleum cargoes through its subsidiary Ocean Rig UDW.
Based in Athens, Greece, the Company owns a fleet of 38 drybulk
carriers, eight drilling units, and 10 oil tankers.



DUNE ENERGY: Columbus Field Shut After Buyer Backs Out
------------------------------------------------------
Dune Energy, Inc., et al., on Sept. 28, 2015, said a buyer has
backed out of a deal to buy assets located in the Debtors' Columbus
field, and thus Dune Energy has shut all operated wells in the
property.

On Sept. 16, 2015, the Debtors notified parties in interest of
their intent to sell certain of their assets located in the
Columbus field to Lauson Energy Operating, LLC, pursuant to a
letter agreement.  The Sale Notice reports a proposed sale to
Lauson for "$1.00 plus assumption of certain liabilities."

On Sept. 24, 2015, Lauson informed the Debtors that it was unable
to reach agreement with Hilcorp Energy Company regarding a
performance bond or other financial assurance of performance, as
required under the Purchase Agreement, and will be unable to close
the purchase of the Columbus Assets.

On Sept. 28, 2015, the Debtors ceased production and shut in all of
their operated wells in the Columbus field.

As a result of Lauson's inability to fulfill the requirements under
the Purchase Agreement and close the purchase of the Columbus
Assets, the Debtors withdrew the Columbus Sale Notice.

The Columbus Assets were included in the Debtors' Notice of Intent
to Abandon Estate Assets to the extent not otherwise sold.  Because
the Columbus Assets will not be sold to Lauson, the Columbus Assets
will be abandoned upon the Court's entry of an order approving the
abandonment as set forth in the Abandonment Notice.

The Debtor says that as a result of the withdrawal, the limited
objection filed by Exterran Energy Solutions, L.P., is now moot.
Exterran, which was owed amounts for a gas compression unit placed
on the Columbus field, had claimed that the proposed sale does not
comply with 11 U.S.C. Sec. 363(f).  Exterran said it objects to the
sale of the Columbus Assets to Lauson free and clear of its lien
unless Exterran receives payment of the principal amount of
Exterran's lien claim on the Columbus Assets ($21,037).

                        About Dune Energy

Dune Energy, Inc. (OTCMKTS: DUNR) is an independent energy company
based in Houston, Texas.  Since May 2004, the Company has been
engaged in the exploration, development, acquisition and
exploitation of natural gas and crude oil properties, with
interests along the Louisiana/Texas Gulf Coast.  The Company's
properties cover over 90,000 gross acres across 27 producing oil
and natural gas fields.

Dune Energy, Inc. (Bankr. W.D. Tex. Case No. 15-10336), Dune
Operating Company (Bankr. W.D. Tex. Case No. 15-10337), and Dune
Properties, Inc. (Bankr. W.D. Tex. Case No. 15-10338) filed
separate Chapter 11 bankruptcy petitions on March 8, 2015.  The
petitions were signed by James A. Watt, president and chief
executive officer.

Judge Christopher H. Mott presides over the cases.

The Debtors listed $229 million in total assets and $144 million
in total debts as of Sept. 30, 2014.  

Charles A. Beckham, Jr., Esq., Kourtney P. Lyda, Esq., and Kelli M.
Stephenson, Esq., at Haynes And Boone, LLP, serve as the Debtors'
bankruptcy counsel.  Deloitte Transactions And Business Analytics
LLP is the Debtors' restructuring advisors.  Parkman Whaling LLC is
the Debtors' sale professionals.

The official committee of unsecured creditors tapped Hugh M. Ray,
Esq., at McKool Smith, P.C., as counsel.

                           *     *     *

On July 27, 2015, the Debtors closed on the sale of substantially
all of the Debtors' assets pursuant to a Purchase and Sale
Agreement dated as of June 24, 2015, as amended, with White Marlin
Oil and Gas Company, LLC and a separate Purchase and Sale Agreement
dated as of June 30, 2015, as amended, with Trimont Energy (NOW),
LLC.

The Bankruptcy Court entered an order confirming the Chapter 11
Liquidation Plan on Sept. 18, 2015.  The Plan was declared
effective Sept. 30, 2015.


EDWARD MANDEL: Snell & Wilmer Wants Racketeering Suit Dismissed
---------------------------------------------------------------
Dani Meyer at Bankruptcy Law360 reported that a racketeering suit
accusing Snell & Wilmer LLP and others of conspiring to bankrupt an
electronic payment terminal venture is "indecipherable" and doesn't
allege anything more than a business dispute, the firm told a
Florida federal court on Oct. 5, 2015, asking that the suit be
dismissed.

Snell & Wilmer argued that Edward Mandel and his corporation, Vibe
Micro Inc., are trying to leverage a business dispute over 8 Speed
8 Inc. into a Racketeer Influenced and Corrupt Organizations Act
suit without alleging facts to plausibly support.


EMERALD OIL: Lenders Reduce Debt by 40%
---------------------------------------
Ryan Dezember, writing for Dow Jones' Daily Bankruptcy Review,
reported that lenders have made perhaps the harshest cut yet to a
U.S. oil producer's collateral-backed loans, slashing a Denver
exploration-and-production company's credit line to less than its
outstanding balance.

According to the report, Emerald Oil Inc ., which produces oil in
North Dakota and Montana, said on Oct. 12 that its lenders have
reduced its credit by 40%, to $120 million.  It is now in talks
with those banks about how to pay back the roughly $20 million by
which it is overdrawn and scrambling to find alternative financing,
the company said, the report related.

Emerald Oil, Inc., is a Denver-based independent exploration and
production company.  Emerald Oil is focused on acquiring acreage
and
developing wells in the Williston Basin of North Dakota and
Montana.


ESTATE FINANCIAL: Heading to Chapter 7 Absent Plan by Oct. 31
-------------------------------------------------------------
Judge Peter H. Carroll approved a stipulation signed by the U.S.
Trustee, and Thomas Jeremiassen, the Chapter 11 trustee of Estate
Financial, Inc., which stipulation provides that:

  -- the Chapter 11 Trustee agrees to file a liquidating plan, and
set it for a future hearing, by Oct. 31, 2015; and

  -- if the Chapter 11 Trustee fails to file a plan, this case will
be converted to one under Chapter 7 without further hearing, unless
(1) the United States Trustee agrees to an extension, or (2) the
Court entertains and grants an extension sought by the Chapter 11
Trustee.

                      About Estate Financial

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

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

In its schedules, Estate Financial disclosed total assets of $27.4
million, and total debt of $7.32 million.

Robert B. Orgel, Esq., at Pachulski Stang Ziehl & Jones LLP, and
William C. Beall, Esq., at Beall and Burkhardt, serve as counsel to
the Debtor.

A Chapter 11 trustee, Thomas P. Jeremiassen, was appointed by the
Court on July 23, 2008.

Robyn B. Sokol, Esq., and Steven T. Gubner, Esq., at Ezra Brutzkus
& Gubner, serve as counsel to the official committee of unsecured
creditors.


FLINTKOTE COMPANY: Amended Joint Plan Declared Effective
--------------------------------------------------------
James E. O'Neill, Esq., attorney at Pachulski Stang Ziehl & Jones
LLP, co-counsel for The Flintkote Company and Flinkote Mines
Limited, informed the Hon. Mary F. Walrath of the U.S. Bankruptcy
Court for the District of Delaware that the Debtors' amended joint
plan of reorganization became effective as of Sept. 30, 2015, and
the plan has been substantially consummated.

As reported by the Troubled Company Reporter, the Debtors have won
approval from the bankruptcy court and the district court of their
modified Chapter 11 plan that incorporates a comprehensive
settlement with its parent, Imperial Tobacco Canada Limited, f/k/a
Imasco Limited (Canada).

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware in August entered findings of fact, conclusions of law,
and an order confirming the Debtors' Amended Joint Plan of
Reorganization, as modified on Feb. 9, 2015.  A copy of the order
is available for free at:

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

                   About The Flintkote Company

Headquartered in San Francisco, California, The Flintkote Company
is engaged in the business of manufacturing, processing and
distributing building materials.  Flintkote Mines Limited is a
subsidiary of Flintkote Company and is engaged in the mining of
base-precious metals.  The Flintkote Company filed for Chapter 11
protection (Bankr. D. Del. Case No. 04-11300) on April 30, 2004.
Flintkote Mines Limited filed for Chapter 11 relief (Bankr. D. Del.
Case No. 04-12440) on Aug. 25, 2004.  Kevin T. Lantry, Esq.,
Jeffrey E. Bjork, Esq., Dennis M. Twomey, Esq., Jeremy E.
Rosenthal, Esq., and Christina M. Craige, Esq., at Sidley Austin,
LLP, in Los Angeles; James E. O'Neill, Esq., and Laura Davis Jones,
Esq., at Pachulski Stang Ziehl & Jones LLP, in Wilmington, Del.,
represent the Debtors in their restructuring efforts.

Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, N.Y.; Peter Van N. Lockwood, Esq., Ronald E. Reinsel, Esq.,
at Caplin & Drysdale, Chartered, in Washington, D.C.; and Philip E.
Milch, Esq., at Campbell & Levine, LLC, in Wilmington, Del.,
represent the Asbestos Claimants Committee as counsel.

James J. McMonagle, is the legal representative for future
claimants.  The FCR has retained Dr. Timothy Wyant as claims
evaluation consultant.  The FCR is represented by James L. Patton,
Jr., Esq., and Edwin J. Harron, Esq., at Young Conaway Stargatt &
Taylor, LLP; and Reginald W. Jackson, Esq., at Vorys, Sater,
Seymour & Pease LLP.

When Flintkote filed for protection from its creditors, it
estimated more than $100 million each in assets and debts.  When
Flintkote Mines Limited filed for protection from its creditors, it
estimated assets of $1 million to $50 million, and debts of more
than $100 million.

The Debtors' Chapter 11 cases have been re-assigned to Judge Mary
F. Walrath in line with the retirement of former Bankruptcy Judge
Judith Fitzgerald.


GEO V HAMILTON INC: 20 Law Firms with Largest Asbestos Claimants
----------------------------------------------------------------
Geo. V. Hamilton, Inc., filed with the Bankruptcy Court an amended
list of 20 law firms that represent the largest number of asbestos
claimants.

At the request of the Office of the United States Trustee, the
Debtor is amending the list of law firms previously filed with the
Court to include the top 20 law firms that represent the largest
number of asbestos claimants (as opposed to the top 10 originally
identified).

   1. Goldberg, Persky, & White, P.C.
      1030 Fifth Ave.
      Pittsburgh, PA 15219
      Bruce Mattock
      Tel: (412) 471-3980

   2. Savinis, D'Amico, & Kane
      707 Grant Street, Suite 3626, Gulf Tower
      Pittsburgh, PA 15219
      Janice M. Savinis
      Tel: (412) 227-6556

   3. Caroselli, Beachler, McTiernan &
      Coleman, L.L.C.
      20 Stanwix Street, Seventh Floor
      Pittsburgh, PA 15222
      William R. Caroselli
      Tel: (412) 391-9860

   4. James F. Humphreys & Associates, L.C.
      10 Hale Street, Suite 400
      Charleston, WV 25301
      James F. Humphreys
      Tel: (304) 881-0652

   5. Motley Rice LLC
      28 Bridgeside Blvd.
      Mt. Pleasant, SC 29464
      Joseph F. Rice
      Tel: (843) 216-9000

   6. The Law Offices of Peter Angelos, P.C.
      100 North Charles Street
      Baltimore, MD 21201
      Peter G. Angelos
      Tel: (410) 649-2000

   7. Kelley & Ferraro, LLP
      2200 Key Tower 12 Public Square
      Cleveland, OH 44114
      James L. Ferraro
      Tel: (216) 575-0777

   8. Robert Peirce & Associates, P.C.
      707 Grant Street, Suite 2500
      Pittsburgh, PA 15219
      Robert N. Pierce, Jr.
      Tel: (412) 281-7229

   9. Feldstein Grinberg Lang & McKee
      428 Boulevard of the Allies, Suite 600
      Pittsburgh, PA 15219
      Jay H. Feldstein
      Tel: (412) 471-0677

  10. Bevan & Associates LPA, Inc.
      6555 Dean Memorial Parkway
      Boston Heights, OH 44236
      Thomas W. Bevan
      Tel: (234) 380-8506

  11. Paul, Reich & Meyers, P.C.
      1608 Walnut Street, Suite 500
      Philadelphia, PA 19103
      Robert Elliott Paul
      Tel: (215) 735-9200

  12. Simmons Hanly Conroy
      One Court Street
      Alton, IL 62002
      John Simmons
      Tel: (618) 259-2222

  13. Brookman, Rosenberg, Brown & Sadler
      30 South 15th Street
      Philadelphia, PA 19102
      Howell K. Rosenberg
      Tel: (215) 569-4000

  14. Gori Julian & Associates, P.C.
      156 North Main Street
      Edwardsville, IL 62025
      Randy L. Gori
      Tel: (618) 307-4085

  15. Hartley & O'Brien, PLLC
      2001 Main Street, Suite 600
      Wheeling, WV 26003
      R. Dean Hartley
      Tel: (304) 233-0777

  16. Baron & Budd, P.C.
      3102 Oak Lawn Avenue, Suite 1100
      Dallas, TX 75219
      Steve Baron
      Tel: (214) 521-3605

  17. Antion McGee Law Group, PLLC
      341 Chaplin Road, 2nd Floor, Suite B
      Morgantown, WV 26501
      Victoria Antion Nelson
      Tel: (304) 594-8080

  18. Robert Sweeney Company, L.P.A.
      55 Public Square, Suite 1500
      Cleveland, OH 44113
      Robert P. Sweeney
      Tel: (216) 696-0606

  19. Nemeroff Law Firm
      3355 W. Alabama Street, Suite 650
      Houston, TX 77098
      Rick Nemeroff
      Tel: (214) 774-2258

  20. Booth & McCarthy
      P.O. Box 4669
      901 West Main Street, Suite 201
      Bridgeport, WV 26330
      Daniel T. Booth
      Tel: (304) 842-0460

                      About Geo. V. Hamilton

Formed in 1947, Geo. V. Hamilton, Inc. is based in McKees Rocks,
Pennsylvania, its home of nearly seventy years.  Hamilton is a
distributor of insulation products and an insulation contractor
serving a wide variety of industrial, energy and commercial
facilities in the Pittsburgh area and elsewhere.

Hamilton filed a Chapter 11 bankruptcy petition (Bankr. W.D. Pa
Case No. 15-23704) on Oct. 8, 2015, for the purpose of resolving
all existing and future personal injury and wrongful death claims
arising from alleged exposure to asbestos-containing product
distributed or installed by Hamilton more than 40 years ago.

Judge Gregory L. Taddonio is assigned to the case.

The petition was signed by Joseph Linehan, the Company's general
counsel.

The Debtor has engaged Reed Smith LLP as counsel and Logan &
Company, Inc., as claims and noticing agent.



GOSPEL LIGHT: Asset Bankruptcy Auction Scheduled for Oct. 27
------------------------------------------------------------
Started in a garage in 1933 by Dr. Henrietta Mears, Gospel Light
has been a leader in publishing Sunday School Curriculum, Vacation
Bible School, Bible Lessons and Church Ministry Resources helping
church leaders fulfill the mission of the church, "To know Christ
and to make Him known."

Henrietta Mears was one of the great Bible teachers of the 20th
Century.  As Christian Education Director at First Presbyterian
Church of Hollywood, she built one of the largest Sunday Schools in
the world and wrote curricula that was in such high demand that she
founded Gospel Light to publish it.

The assets in the bankruptcy auction include its trusted brand
names since 1933, high traffic web domains, multiple key trademarks
including "What the Bible is All About", clean title to thousands
of SKUs, intellectual property, and a Sunday school curriculum
unit, a nearly $3.7 million business that sends more than 4,200
subscribers -- churches and schools mostly -- new material every
three months.  An inventory of publications, fixtures, office
furnishings and equipment will be also auctioned.

The Vacation Bible School curriculum unit, which produces material
for children's summer classes, had more than 4,400 customers last
year and generated more than $2 million in total net revenue.

"Gospel Light Publications' assets are poised for growth with loyal
direct customers, a brand new web platform, and new digital
resources for Vacation Bible School and Sunday School that
represent significant growth potential," explains Dave Thornton,
Gospel Light CEO.

Braun Worldbid was hired to execute the auction.  Todd Wohl, the
President of Braun Worldbid, remarks, "Our Worldbid Auction
Platform offers the best opportunities for the buyers to
successfully bid for these valuable assets."

Parties interested in bidding at auction must meet certain
requirements including proof of funds and registration deposits.
All bids must be submitted on or before October 23 at 2:00 p.m. PT.
The auction date is October 27 at noon PT.

Dave Thornton believes a great number of buyers will step forward
to participate in this court overseen auction process: "The
upcoming Gospel Light Publications auction represents a rare
opportunity to acquire intellectual property and trusted brands
that meet the needs of Bible teachers around the world."

Anyone interested in this opportunity should contact Craig G.
Margulies, Esq. of Margulies Faith LLP at
Craig@marguliesfaithlaw.com or Todd Wohl, Braun Worldbid at
Todd@Braunco.com to receive due diligence materials.

Braun Co. -- http://www.braunco.com/-- and its corporate family of
companies are nationwide leaders in commercial and residential real
estate auctions, real estate marketing, and brokerage sales.
Headquartered in Los Angeles and with offices in San Francisco, New
York, Chicago, and London, the companies have over 2,900 alliances
partners in 46 states.  Corporate clients include major
institutions, Fortune 500 companies, family offices, and trust
companies.



GRASS VALLEY: Court Approves Daniel C. Ford as Real Estate Agent
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Utah authorized Grass
Valley Holdings, L.P., to employ Daniel G. Ford and KW Commercial,
the commercial branch of Keller Williams Westfield Real Estate, as
a real estate agent for the estate.

The Debtor's assets include a property located at 1350 North Main
Street, in Spanish Fork, Utah; and 940 South 2000 West, in
Springville, Utah.  The Debtor has entered an exclusive right to
sell listing agreement and agency disclosure with Mr. Ford and KW
Commercial.  Mr. Ford maintains an office located at 841 North 900
West, Orem, Utah.

To the best of the Debtor's knowledge, Mr. Ford has no adverse
interest to the Debtor or creditors.

The Debtor is represented by:

         Gary E. Jubber, Esq.
         Douglas J. Payne, Esq.
         FABIAN & CLENDENIN, a Professional Corporation
         215 South State Street, Suite 1200
         Salt Lake City, UT 84111
         Tel: (801) 531-8900
         Fax: (801) 596-2814

                About Grass Valley Holdings, L.P.

Based in Springville, Utah, Grass Valley Holdings, L.P., is a
holding company for real property located in Utah as well as an
interest in real property located in Idaho Falls, Idaho.

Grass Valley Holdings commenced a Chapter 11 bankruptcy case
(Bankr. D. Utah Case No. 15-24513) in Salt Lake City, Utah, on May
15, 2015.

The Debtor disclosed $21,478,874 in assets and $13,187,245 in
liabilities as of the Chapter 11 filing.

The case is assigned to Judge R. Kimball Mosier.  The Debtor is
represented by Gary E. Jubber, Esq., and Douglas J. Payne, Esq.,
at Fabian and Clendinin, in Salt Lake City.


GTA REALTY II: Full-Payment Plan Okayed, Substantially Consummated
------------------------------------------------------------------
GTA Realty II, LLC, notified the Bankruptcy Court that the
effective date of its Chapter 11 plan occurred on Aug. 7, 2015, and
the Plan has been substantially consummated.

Judge Robert Gerber on July 30, 2015, entered an order confirming
the Debtor's Second Amended Plan of Reorganization dated July 1,
2015.  A copy of the Plan Confirmation Order is available for free
at:

     http://bankrupt.com/misc/GTA_Realty_122_Plan_Order.pdf

The judge held, among other things, that the sale of the Debtor's
real property located at 287 Bleecker Street, New York, New York,
under the Plan is an arm's-length transaction, non-collusive, fair
and reasonable, and conducted openly and in good faith in
accordance, and is in the best interests of the Debtor, its estate
and creditors, and (b) that 287 Bleecker Street LLC or its designee
(the "Purchaser"), as transferee of the Bleecker Street Property,
is a good faith purchaser within the meaning of 11 U.S.C. Sec.
363(m).

Since filing the case, the Debtor considered several options and
ultimately decided to sell the Bleecker Street property to a joint
venture in a private sale under the Plan under a contract.  Teresa
Sorkin, the daughter of the Debtor's beneficial owners will be a
50% owner of 287 Bleeker Street LLC, the new joint venture.  The
purchaser of the Bleecker Street property is affiliated to the
Debtor by the partial ownership of Teresa Launi, the daughter of
Nancy Launi and Rocco Launi (the Debtor's beneficial owners).

According to the Debtor, the sale proceeds will cover (a) all
creditor claims plus interest and (b) the costs associated with
satisfying the Mortgagee's claim in full by exercising the
so-called defeasance provisions of the mortgage.  To defease, the
Debtor must (i) cure all unpaid amounts due and owing under the
Mortgagee's note and related loan documents and (ii) substitute
U.S. Treasury securities for the Properties as collateral for the
Mortgagee's note.  As required by the Mortgage, those securities
will generate a stream of payments to the Mortgagee equal to the
remaining amounts due under the Mortgage.

The Prince Street Property will be transferred by gift to Teresa
Launi or her designee under the Plan.

The Official Committee of Unsecured Creditors opposed confirmation
of the Plan, citing a serious feasibility issue by way of a lack of
commitments, and still the presence of conditionality, in the
proposed Plan transactions.  Among other things, the Committee
noted that the contract is contingent upon assignment of the
mortgage, and the lender has not yet stated that it will support
the Plan transaction.

A copy of the Debtor's declaration in support of Plan confirmation
is available for free at:

   http://bankrupt.com/misc/GTA_Realty_120_Plan_Declaration.pdf

                            100% Plan

The Debtor filed a plan that provides that would yield a 100-cent
distribution to unsecured creditors in cash, with interest, on the
Effective Date.  Under the Plan:

  -- U.S. Bank, N.A., which asserts a secured claim of $6.25
million as of Jan. 31, 2015, will be paid in full in Cash of
Allowed Amount on the Effective Date, plus interest at the
applicable statutory rate as it accrues from the Petition Date
through the date of payment;

  -- Holders of general unsecured claims, estimated at $1.92
million, will be paid in full in cash on the Effective Date plus
interest at the Legal Rate from the Petition Date through the
payment date.

  -- Equity holders will retain their interests.

The Debtor filed a proposed plan and disclosure statement on Dec.
5, 2014, a first amended plan and disclosure statement on April 21,
2015, and a second amended plan and disclosure statement on July 1,
2015.

Judge Gerber on July 7, 2015 approved the 2nd Amended Disclosure
Statement and set a July 30 hearing to consider confirmation of the
Plan.

A copy of the latest iteration of the Disclosure Statement is
available for free at:

     http://bankrupt.com/misc/GTA_Realty_111_2nd_Am_DS.pdf

The Debtor is required to file status reports with the Court every
January 15th, April 15th, July 15th, and October 15th until a final
decree has been entered closing the Debtor's chapter 11 case.

                       About GTA Realty II

GTA Realty II, LLC, owned real property at 184 Prince Street, New
York, and at 287 Bleeker Street, New York.  The Prince Street
property is a four family building with one store. The Bleecker
Street property is as an eight family building with one store.

By order dated June 27, 2014, GlassRatner Management & Realty
Advisors, LLC, was appointed as receiver in the U.S. District Court
foreclosure action with respect Bleecker Street and Prince Street
properties.

GTA Realty II sought bankruptcy protection (Bankr. S.D.N.Y.
Case No. 14-12840) in Manhattan on Oct. 8, 2014.  The
petition was signed by Nancy Launi, G.T.A. Realty Corp. president.

In its schedules of assets and liabilities, the Debtor disclosed
$18 million in total assets and $7.26 million in liabilities.  The
Debtor Prince Street property was valued at $6 million and the
Bleecker Street was valued at $12 million.   U.S. Bank National
Association, owed $5.3 million, holds a first mortgage on the
property.

The Chapter 11 case is assigned to Judge Robert E. Gerber.

The Debtor is represented by Mark A. Frankel, Esq., at Backenroth
Frankel & Krinsky, LLP, in New York.

The Debtor in July 2015 withdrew its application to hire Madison
Tax Group, as tax accountants.

The U.S. Trustee for Region 2 appointed three creditors to serve on
the official committee of unsecured creditors.

By stipulation and order signed by the Bankruptcy Court on Jan. 6,
2015, the District Court Receiver was authorized to act and serve
as manager for the Properties.  The receiver tapped Wenig Saltiel
LLP as counsel.

The Debtor filed a Chapter 11 plan, and the Plan was approved by
the Bankruptcy Court.  The effective date of the Chapter 11 Plan
occurred on Aug. 7, 2015.


GTA REALTY II: Receiver Proposes Final Accounting & Discharge
-------------------------------------------------------------
As GTA Realty II, LLC's Chapter 11 Plan has been substantially
consummated, GlassRatner Management & Realty Advisors, LLC -- the
receiver appointed by order of the U.S. District Court, Southern
District of New York dated June 27, 2014 -- will ask the U.S.
Bankruptcy Court for the Southern District of New York at a hearing
on Oct. 21, 2015 at 9:45 a.m. to approve a motion:

  (1) approving the Receiver's final accounting for (i) 184 Prince
Street, NY; and (ii) 287 Bleecker Street, NY, for the period June
27, 2014, through Sept. 29, 2015;

  (2) authorizing the Receiver to pay Wenig Saltiel LLP the sum of
$28,652 for the legal services rendered to date and anticipated
fees relating to the future court appearances and legal services
necessary relating to this motion and the filing of the final
accounting and appearance to discharge the Receiver in the Southern
District of New York; and

  (3) authorizing the Receiver to tender to the Debtor in these
Bankruptcy Proceedings the balances remaining in the Receiver's
Accounts (after all disbursements to the Receiver, his counsel and
creditors) or in accordance with the direction of the Debtor's
counsel except for $2,500 to be applied to future utility bills
with the remainder of this $2,500 to be turned over within 90 days;
and

  (4) discharging GlassRatner as Receiver; and

  (5) discharging the surety on the Bond as of the determination of
this motion; and

  (6) vacating the automatic stay for the limited purpose of filing
the final accounting with the appointing Court, if needed, for the
purpose of issuing an Order discharging the Receiver and cancelling
the Receiver's bond, forthwith, in accord with the Surety company's
requirements for discharging the bond.

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

    http://bankrupt.com/misc/GTA_Realty_129_M_Rec_Discharge.pdf

                        About GTA Realty II

GTA Realty II, LLC, owned real property at 184 Prince Street, New
York, and at 287 Bleeker Street, New York.  The Prince Street
property is a four family building with one store. The Bleecker
Street property is as an eight family building with one store.

By order dated June 27, 2014, GlassRatner Management & Realty
Advisors, LLC, was appointed as receiver in the U.S. District Court
foreclosure action with respect Bleecker Street and Prince Street
properties.

GTA Realty II sought bankruptcy protection (Bankr. S.D.N.Y. Case
No. 14-12840) in Manhattan on Oct. 8, 2014.  The petition was
signed by Nancy Launi, G.T.A. Realty Corp. president.

In its schedules of assets and liabilities, the Debtor disclosed
$18 million in total assets and $7.26 million in liabilities.  The
Debtor Prince Street property was valued at $6 million and the
Bleecker Street was valued at $12 million.   U.S. Bank National
Association, owed $5.3 million, holds a first mortgage on the
property.

The Chapter 11 case is assigned to Judge Robert E. Gerber.

The Debtor is represented by Mark A. Frankel, Esq., at Backenroth
Frankel & Krinsky, LLP, in New York.

The Debtor in July 2015 withdrew its application to hire Madison
Tax Group, as tax accountants.

The U.S. Trustee for Region 2 appointed three creditors to serve on
the official committee of unsecured creditors.

By stipulation and order signed by the Bankruptcy Court on Jan. 6,
2015, the District Court Receiver was authorized to act and serve
as manager for the Properties.  The receiver tapped Wenig Saltiel
LLP as counsel.

The Debtor filed a Chapter 11 plan, and the Plan was approved by
the Bankruptcy Court.  The effective date of the Chapter 11 Plan
occurred on Aug. 7, 2015.


HANGER INC: S&P Withdraws 'BB-' Corporate Credit Rating
-------------------------------------------------------
Standard & Poor's Ratings Services withdrew its long-term corporate
credit rating of 'BB-' on U.S. orthotics and prosthetics (O&P)
services and products provider Hanger Inc.  At the same time, S&P
withdrew its 'B' issue ratings on Hanger Inc.'s $200 million senior
unsecured debt.  At the time of the withdrawal, all ratings were on
CreditWatch, where S&P placed them with negative implications on
Dec. 16, 2014.

"We have withdrawn the ratings because we lack sufficient
information of satisfactory quality to maintain the ratings,
particularly given the continued delay in the availability of
audited financial statements for the year ended Dec. 31, 2014,"
said Standard & Poor's credit analyst David Kaplan.  The company's
most recent set of audited financials (10-K) was filed for the
period ended Dec. 31, 2013, and its last (10-Q) was filed for the
period ended June 30, 2014.



HAROLD OSTENSON: Wash. Supreme Court Rules in Suit v. Pac-O
-----------------------------------------------------------
The Supreme Court of Washington, en banc, heard a case concerning
whether a debtor who has filed a voluntary bankruptcy petition may
maintain a derivative action on behalf of a limited liability
company (LLC), of which the debtor was a former member.  The
primary inquiry addresses the interplay of federal bankruptcy law
and portions of the Washington Limited Liability Company Act
(WALLCA), chapter 25.15 RCW, and whether the state provisions are
superseded under the circumstances of this case; specifically,
whether 11 U.S.C. Sections 541 or 365 preempt RCW 25.15.130(1)(d).

"We hold that the dissociation provision found in RCW
25.15.130(1)(d) is not preempted by federal bankruptcy law and
affirm the dismissal of the former LLC member's derivative claim
under the facts of this case," Chief Justice Barbara A. Madsen said
in a Sept. 10 decision available at http://is.gd/dq9Punfrom
Leagle.com.

Washington orchardists Harold and Shirley Ostenson and California
organic fruit broker Greg Holzman (d/b/a Greg Holzman, Inc. (GHI))
formed Pac Organic Fruit LLC (Pac-O) in 1998. GHI held the majority
interest and management responsibilities under the LLC's operating
agreement. Ostenson was required to rent his local Washington
storage and packing facility to Pac-O, to run that facility, and to
obtain and pay a loan to improve that facility. The business
operated from 1998 through 2004 but collapsed in 2005.  During
2005, Pac-O defaulted on its operating line of credit and lease
payments, Holzman fired Ostenson, and the bank foreclosed on the
packing facility.  Thereafter, Holzman, acting as Pac-O's agent,
executed a demand promissory note in favor of GHI and transferred
Pac-O's assets to GHI to satisfy the note.

On January 9, 2007, Ostenson filed a voluntary chapter 11
bankruptcy petition. In May 2007, a creditor of Pac-O, Northwest
Wholesale Inc., filed the suit against Pac-O, Ostenson, and GHI,
alleging fraudulent conveyance from Pac-O to GHI. In response,
Ostenson filed cross claims and/or third party claims against
Pac-O, Holzman, GHI, and Total Organic LLC (another Holzman
company). Ostenson's claims against Holzman and his companies were
as a derivative action on behalf of Pac-O.

On January 24, 2011, the trial court dismissed Northwest
Wholesale's claims following settlement of same.  Thereafter, the
only remaining claims were Ostenson's responsive claims against
Pac-O (seven counts) and his derivative claim (count VIII) against
Holzman defendants.  Trial commenced on July 11, 2011.

On July 13, after Ostenson rested, the Holzman defendants moved to
dismiss count VIII under CR 41(b)(3).  The Holzman defendants
argued that under the WALLCA, (1) a plaintiff asserting a
derivative action must be a member of the LLC (RCW 25.15.130(1)(d),
.370, .375), (2) when Ostenson filed his bankruptcy petition he was
dissociated as a member of the LLC (and thus had only the rights of
an assignee, i.e. right to share in profits, but no management
rights) (see RCW 25.15.130(1)(d)(ii),.250(1)-(2)), and (3) as
Ostenson had been dissociated from membership in Pac-O by filing
bankruptcy, he lacked authority (standing) to bring a derivative
action on behalf of Pac-O.

Ostenson answered the motion arguing that the Holzman defendants
had consented to the derivative action via a stipulation that was
previously entered in the Ostenson's bankruptcy proceeding.

The trial court took the matter under advisement and directed the
Holzman defendants to go forward and present their evidence.  The
Holzman defendants presented witnesses over the remainder of that
day (July 13) and the next day but did not finish their testimony.
The trial court then continued the matter several times. Finally on
September 7, 2012, following additional briefing, the trial court
granted the Holzman defendants' CR 41 motion.

In its October 3, 2012 written findings and conclusions, the trial
court (1) rejected Ostenson's contention that the Holzman
defendants had waived their CR 41 motion by putting on evidence,
(2) rejected Ostenson's contention that the Holzman defendants had
consented to the derivative action in the stipulation in Ostenson's
bankruptcy proceeding, and (3) ruled that Ostenson relinquished
membership in Pac-O with his bankruptcy filing.

On October 15, 2012 Ostenson filed a motion for reconsideration,
arguing for the first time that federal bankruptcy law preempts
WALLCA regarding dissociation of LLC members upon filing
bankruptcy.  The trial court denied Ostenson's motion for
reconsideration on January 23, 2013.  Ostenson appealed, and
Division Three affirmed, holding that the Holzman defendants did
not waive their CR 41 motion to dismiss, the Holzman defendants did
not consent to Ostenson bringing a derivative action, and federal
bankruptcy law governing bankruptcy estates and executory contracts
did not preempt WALLCA's dissociation statute. Nw. Wholesale, Inc.
v. PAC Organic Fruit, LLC, 183 Wn.App. 459, 474-89, 334 P.3d 63
(2014), review granted, 182 Wn.2d 1009, 343 P.3d 759 (2015).
Ostenson sought and was granted review in this court on only two
issues: waiver and preemption.

The case is, NORTHWEST WHOLESALE, INC., a Washington corporation,
Plaintiff, v. PAC ORGANIC FRUIT, LLC, a Washington limited
liability company; GREG HOLZMAN, INC., a foreign corporation
authorized to do business in the State of Washington; and HAROLD
OSTENSON and SHIRLEY OSTENSON, Defendants, HAROLD OSTENSON and
SHIRLEY OSTENSON, on behalf of PAC ORGANIC FRUIT, LLC, a Washington
limited liability company, Petitioners, v. GREG HOLZMAN, an
individual; TOTAL ORGANIC, LLC, a Washington limited liability
company; and GREG HOLZMAN, INC., a foreign corporation authorized
to do business in the State of Washington, Respondents, NO. 90891-5
(Wash.).

Counsel for Petitioners:

     Maris Baltins, Esq.
     LAW OFFICES OF MARIS BALTINS, P.S.
     7 S Howard St Ste 220
     Spokane, WA, 99201-3816

Counsel for Defendants and Respondents:

     Bradley Robert Duncan, Esq.
     Joshua A. Rataezyk, Esq.
     HILLIS CLARK MARTIN & PETERSON P.S.
     1221 2nd Ave Ste 500
     Seattle, WA, 98101-2925


HAVERHILL CHEMICALS: Assets Slated for Oct. 22 Auction
------------------------------------------------------
Haverhill Chemicals LLC will hold an auction on Oct. 22 if it
receives at least one competing bid for its assets, according to
court filings.

ALTIVIA Petrochemicals LLC has signed a deal to purchase the assets
for $3 million and assume certain liabilities, absent higher and
better offers.  As stalking horse bidder, ALTIVIA will receive a
breakup fee of $150,000, and another $250,000 as reimbursement for
its expenses if it is not selected as the winning bidder.

The auction will take place at the offices of Diamond McCarthy LLP,
in Houston, Texas.

U.S. Bankruptcy Judge David Jones earlier approved a bidding
process, which allowed the company to solicit offers and sell most
of its assets to the highest bidder.  The court order is available
for free at http://is.gd/m9evwk

The assets up for auction include the company's chemical
manufacturing plant located near the banks of the Ohio River in
Haverhill.

The bidding process sets an Oct. 20 deadline for potential buyers
to make an offer.  The bid must be at least $3.5 million and must
be accompanied by a cash deposit of $100,000.

Judge Jones will hold a hearing on Nov. 2 to consider the sale of
the assets to the winning bidder.  

                     About Haverhill Chemicals

Haverhill Chemicals LLC owns and operated a chemical plant in
Haverhill, Ohio, to produce Phenol, Acetone, Bisphenol A (BPA) and
Alpha-Methylstyrene ("AMS") for sale to 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.

Haverhill Chemicals filed a Chapter 11 bankruptcy petition (Bankr.
S.D. Tex. Case No. 15-34918) on Sept. 18, 2015, with a deal to sell
its Haverhill plant to ALTIVIA Petrochemicals, LLC, for $3 million,
subject to higher or better bids.

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

The petition was signed by Paul Deputy, the chief financial
officer.  The case is assigned to Judge Marvin Isgur.

Diamond McCarthy LLP serves as the Debtor's counsel.


HEALTH REPUBLIC: NY Regulators to Shut Down Co-op
-------------------------------------------------
Anna Wilde Mathews at The Wall Street Journal reports that
regulators will shut down Health Republic Insurance of New York,
the largest of the nonprofit cooperatives created under the
Affordable Care Act, in the latest sign of the financial pressures
facing many insurers that participated in the law's new
marketplaces.

The insurer lost about $52.7 million in the first six months of
this year, on top of a $77.5 million loss in 2014, the Journal
discloses citing regulatory filings.  According to the Journal, the
move to wind down its operations was made jointly by officials from
the federal Centers for Medicare & Medicaid Services; New York's
state insurance exchange, known as New York State of Health; and
the New York State Department of Financial Services.

The Journal relates that Health Republic said in a statement that
it was "deeply disappointed" by the outcome, and pointed to
"challenges placed on us by the structure of the CO-OP program."

Health Republic has about 215,000 members, with about half holding
individual plans and half under small-business coverage, a
spokesman for the insurer said, the Journal relays.

According to the Journal, the regulators said they chose to take
action before the exchange's November open enrollment period, when
individuals can choose coverage with a new insurer. Health Republic
policies will remain in effect amid "an orderly wind down" of the
insurer's operations, they said. In a statement, Kevin Counihan,
the CMS official who oversees insurance marketplace operations,
said the move came "because of the likelihood that Health Republic
Insurance of New York would become financially insolvent," the
Journal relates.

The Journal notes that the shuttering of Health Republic, at least
the fourth to falter among the ACA's original 23 co-ops around the
country, reflects the losses many insurers are seeing in their
business related to the health law's exchanges, which are
particularly acute for small plans without deep pockets or
diversified lines of business.

In Health Republic's case, its premiums appeared not to be set high
enough to cover members' health expenses and its own costs, said
Deep Banerjee, an analyst with Standard & Poor's Ratings Services,
the report relays. "They are paying out in claims and expenses a
lot more than they are getting in the door," the Journal quotes Mr.
Banerjee as saying.

The Journal relates that a Health Republic spokesman said the
insurer didn't receive the full rate increases it requested from
state regulators for 2015, and "we didn't feel as if we got rate
adequacy" for this year's plans.

The Journal says the situation was complicated by programs created
under the health law to ease risks for insurers that signed up a
lot of sicker, more-costly enrollees. Under one of those programs,
Health Republic had expected to break even, but instead it was
assessed to pay around $80 million into the program's pool, likely
reflecting that it enrolled a relatively healthier clientele
compared with competitors, the report notes. Health Republic also
expected to receive $147 million under another one of those
programs, known as risk corridors, the insurer said. Because of a
tweak to a federal spending bill, insurers may not get as much as
they have projected, Mr. Banerjee said -- an issue that could
squeeze other companies, the Journal reports.

The Journal states that the co-ops were set up as nonprofit
insurance entities governed by their members, and analysts have
said several of those that remain are in challenging financial
straits. Health Republic's membership is far larger than the
next-biggest co-op, which had around 131,000 enrolled, Mr.
Banerjee, as cited by the Journal, said.

According to the report, the Iowa insurance regulator said in
January that it would shut down CoOportunity Health. At least two
other co-ops, in Nevada and Louisiana, have said they won't offer
plans next year, the report says.

Two other co-ops bearing the Health Republic name, in New Jersey
and Oregon, are independent operations and not affected by the New
York plan's situation, a spokeswoman for the New Jersey plan said,
the Journal adds.


HERCULES OFFSHORE: Baker Botts Approved as Bankruptcy Counsel
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Hercules Offshore, Inc., et al., to employ Baker Botts L.L.P., to
serve as the counsel nunc pro tunc to the Petition Date.

Beau Thompson, senior vice president, general counsel, and
secretary of the Debtors, said in a declaration, that the
employment is pursuant to a certain engagement letter between the
Debtors and Baker Botts dated March 13, 2015, as amended on  Aug.
12, 2015.

Baker Botts is expected to, among other things:

   (a) take all necessary actions to protect and preserve the
Debtors' estates, including prosecuting actions on the Debtors'
behalf, defending any action commenced against the Debtors, and
representing the Debtors in negotiations concerning litigation in
which the Debtors are involved, including objections to claims
filed against the Debtors' estates;

   (b) prepare pleadings in connection with these chapter 11 cases,
including motions, applications, answers, orders, reports, and
papers necessary or otherwise beneficial to the administration of
the Debtors' estates; and

   (c) represent the Debtors in connection with negotiation,
documentation and obtaining authority to enter into financing
arrangements as may be required, including but not limited to, the
exit financing contemplated by the Plan.

Baker Botts' standard hourly rates range as:

         Billing                             Category Range
         -------                             --------------
         Partners                            $750 - $1,250
         Special Counsel                     $600 - $1,000
         Associates                          $400 -   $700
         Paraprofessionals                   $165 -   $325

These professionals are expected to have primary responsibility
for providing services to the Debtors, and their respective rates
are:

         Timekeeper                                Rate
         ----------                                ----
         Grillo, Emanuel (Manny)                  $1,050
         McDowell, Luckey                           $750
         Prince, Jim                                $850
         Weedon, Luke                               $800

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

                      About Hercules Offshore

Headquartered in Houston, Hercules Offshore, Inc. --
http://www.herculesoffshore.com/-- operates a fleet of 27 jackup  


rigs, including one rig under construction, and 21 liftboats. The
Company offers a range of services to oil and gas producers to
meet their needs during drilling, well service, platform
inspection, maintenance, and decommissioning operations in several
key shallow water provinces around the world.

On Aug. 13, 2015 Hercules Offshore and 14 affiliated debtors each
filed a voluntary petition for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Lead Case No. 15-11685) in the
U.S. Bankruptcy Court for the District of Delaware.  The cases are
pending before the Honorable Kevin J. Carey.

The Debtors tapped Baker Botts LLP as counsel; Morris, Nichols,
Arsht & Tunnell, as local counsel; Andrews Kurth LLP, as general
corporate counsel; Lazard Freres & Co. LLC, as investment banker,
Alvarez & Marsal, as restructuring advisor; and Prime Clerk, LLC,
as claims and noticing agent.

The Steering Group of Holders of Senior Notes is represented by
Akin Gump Strauss Hauer & Feld LLP's Arik Preis, Esq., and Michael
S. Stamer, Esq.

HERO disclosed $546 million in assets and $1.306 billion in debt
as of Aug. 11, 2015.

                           *     *     *

Judge Kevin J. Carey, on Sept. 24, 2015, confirmed Hercules
Offshore, Inc., et al.'s Joint Prepackaged Plan of Reorganization
and approved the disclosure statement explaining the Plan.

The Plan provides, among other things, that the Debtors will
convert approximately $1.2 billion of debt into equity, raise $450
million of new capital and provide an opportunity for existing
equity holders to receive a distribution if they do not opt out of
the releases under the Plan.

The Debtors on the Petition Date filed a prepackaged Chapter 11
plan that would convert $1.2 billion of outstanding senior notes
to 96.9% of new common equity.


HERCULES OFFSHORE: Morris Nichols Approved as Delaware Co-Counsel
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Hercules Offshore, Inc., et al., to employ Morris, Nichols, Arsht &
Tunnel LLP as Delaware Bankruptcy co-counsel nunc pro tunc to the
Petition Date.

Matthew B. Harvey, Esq., at Morris, Nichols, Arsht & Tunnell LLP,
co-counsel for the Debtors, submitted a certification regarding the
application to employ Morris Nichols.

On Sept. 2, 2015, Robert J. Dehney, a partner in the firm of Morris
Nichols, which maintains an office for the practice of law at 1201
North Market Street, Wilmington, Delaware, filed a supplemental
declaration in support of the application to provide certain
additional disclosures at the request of the Office of
the U.S. Trustee and in accordance with Bankruptcy Rule 2014(a).

At the request of the U.S. Trustee, paragraph 12(f) will be
clarified to read as:

   "(f) performing all other services requested by the Debtors or
their representatives, and to the extent Morris Nichols determines
that such services fall outside of the scope of services
historically or generally performed by the firm as co-counsel in a
bankruptcy case, Morris Nichols will file a supplemental
declaration pursuant to Bankruptcy Rule 2014 and give parties in
interest an opportunity to object."

                      About Hercules Offshore

Headquartered in Houston, Hercules Offshore, Inc. --
http://www.herculesoffshore.com/-- operates a fleet of 27 jackup  


rigs, including one rig under construction, and 21 liftboats. The
Company offers a range of services to oil and gas producers to
meet their needs during drilling, well service, platform
inspection, maintenance, and decommissioning operations in several
key shallow water provinces around the world.

On Aug. 13, 2015 Hercules Offshore and 14 affiliated debtors each
filed a voluntary petition for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Lead Case No. 15-11685) in the
U.S. Bankruptcy Court for the District of Delaware.  The cases are
pending before the Honorable Kevin J. Carey.

The Debtors tapped Baker Botts LLP as counsel; Morris, Nichols,
Arsht & Tunnell, as local counsel; Andrews Kurth LLP, as general
corporate counsel; Lazard Freres & Co. LLC, as investment banker,
Alvarez & Marsal, as restructuring advisor; and Prime Clerk, LLC,
as claims and noticing agent.

The Steering Group of Holders of Senior Notes is represented by
Akin Gump Strauss Hauer & Feld LLP's Arik Preis, Esq., and Michael
S. Stamer, Esq.

HERO disclosed $546 million in assets and $1.306 billion in debt
as of Aug. 11, 2015.

                           *     *     *

Judge Kevin J. Carey, on Sept. 24, 2015, confirmed Hercules
Offshore, Inc., et al.'s Joint Prepackaged Plan of Reorganization
and approved the disclosure statement explaining the Plan.

The Plan provides, among other things, that the Debtors will
convert approximately $1.2 billion of debt into equity, raise $450
million of new capital and provide an opportunity for existing
equity holders to receive a distribution if they do not opt out of
the releases under the Plan.

The Debtors on the Petition Date filed a prepackaged Chapter 11
plan that would convert $1.2 billion of outstanding senior notes
to 96.9% of new common equity.


HORSESHOE CASINO: Jones' Bid to Modify Automatic Stay Denied
------------------------------------------------------------
Magistrate Judge Paul R. Cherry of the United States District Court
for the Northern District of Indiana, Hammond Division, denied the
Motion for a Modification of Automatic Stay for a Limited Purposes
filed by plaintiff Gloria Jones in the Chapter 11 case of Horseshoe
Casino.

Jones sought to modify the automatic stay as to Horseshoe Casino to
allow the retrieval of evidence central to the case.  Specifically,
Jones requested that the court allow discovery of a video tape and
chair that are relevant to her claims against the other
defendants.

Magistrate Cherry held that a modification of the stay is not
necessary for Jones to obtain the discovery she seeks.  The judge
explained that while Horseshoe Casino's bankruptcy petition
operates as an automatic stay as to Horseshoe Casino, the stay does
not protect against discovery directed at Horseshoe Casino to be
used against the other defendants, even if the discovered items
could later be used against Horseshoe Casino.

The case is GLORIA JONES, Plaintiff, v. HORSESHOE CASINO, et al.,
Defendants, CAUSE NO. 2:15-CV-14-PPS-PRC (N.D. Ind.).

A full-text copy of Judge Cherry's September 8, 2015 opinion and
order is available at http://is.gd/GLNmYyfrom Leagle.com.

Gloria Jones is represented by:

          Peniel M Manigat, Esq.
          MANIGAT LAW GROUP
          53 West Jackson Boulevard Suite 1001
          Chicago, IL 60604-3646
          Tel: (312) 217-3221

            -- and --

          Steven Anthony Lang, Esq.
          STEVEN A. LANG LLP
          14639 Karlov
          Midlothian, IL 60445
          Tel: (773) 742-1201

Horseshoe Casino is represented by:

          Frank P. Kasbohm, Esq.
          FEIEREISEL & KASBOHM LLC
          19 S. LaSalle Stree, Suite 601
          Chicago, IL 60603
          Tel: (312) 782-9255
          Fax: (312) 782-4537
          Email: fkasbohm@fkllc.net

Suspa Inc. is represented by:

          Patrick C Dowd, Esq.
          DOWD & DOWD LTD.
          617 West Fulton Street
          Chicago, IL 60661
          Tel: (800) 451-5238
          Fax: (312) 704-4500
          Email: patrickdowd@downanddowd.com

Gasser Chair Company is represented by:

          JOHN W. POTTER, Esq.
          225 West Washington Street Suite 1400
          Chicago, IL 60606
          Fax: (630) 539-3681


HOVENSA LLC: Hires White & Case as Special Counsel
--------------------------------------------------
Hovensa LLC asks for authorization from the U.S. Bankruptcy Court
for the District of the Virgin Islands to employ White & Case LLP
as special counsel, effective September 15, 2015 petition date.

The Debtor requires White & Case to:

   (a) advise and assist the Debtor in connection with, corporate,

       tax, litigation and mergers and acquisition issues as the
       Debtor may determine to be necessary or appropriate; and

   (b) perform any and all related ancillary legal services in
       connection with the foregoing as may be reasonably
       requested by the Debtor from time to time.

White & Case will be paid at these hourly rates:

       Partners                 $840-$1,200
       Counsel/Associates       $425-$790
       Paraprofessionals        $200-$260

White & Case will also be reimbursed for reasonable out-of-pocket
expenses incurred.

For the 12 months preceding the commencement of the Debtor’s
chapter 11 case, White & Case received payments in the aggregate
amount of approximately $2,529,005 for professional fees and
expenses incurred with respect to the representation of the Debtor
in conjunction with various corporate matters. Additionally, on
March 10 and 13, 2015, White & Case received retainers in the
amount of $500,000 and $250,000 respectively from the Debtor. As of
the filing of this Declaration, approximately $75,000 of the
retainer amounts has not been applied to any invoice.

Gregory Pryor, partner of White & Case, 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.

White & Case can be reached at:

       Gregory Pryor, Esq.
       WHITE & CASE LLP
       1155 Avenue of the Americas
       New York, NY 10036
       Tel: (212) 819-8200
       Fax: (212) 354-8113
       E-mail: gpryor@whitecase.com

                           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: Paid Over $1.6MM to Top 3 Officers in 2014
-------------------------------------------------------
Court documents show that Hovensa made payments totaling more than
$1.6 million to three top officers over the past year.

Joy Blackburn at Virgin Islands Daily News reports that the
Company's general manager, Sloan Schoyer, got $600,000, while
Franklin Quow, who was chief legal officer and secretary, and
Timothy Carlson, who was controller and acting chief financial
officer, each received more than $500,000 as salaries and bonuses;
cost of living supplements; severance packages; Plant Closing Act
monies; and in some cases, consulting fees after they changed
status from employee to consultant.

The payments were "contractually due," Daily News relates, citing
Tom Hill, the Company's chief restructuring officer.  The report
quoted him as saying, "The Plant Closure Act VI was a large
component of those payments for each individual.  It is my
understanding that Hovensa complied with the Plant Closure Act VI
and made the payments to all of its former employees."

According to Daily News, United Steelworkers staff representative
Jerry Jackson said he wasn't aware of how much the senior officers
received, but if they did get salary and compensation of more than
$500,000, "that's basically blowing my mind."  Citing Mr. Jackson,
Daily News states that the union is interested in the Chapter 11
case because of some outstanding grievances it has, as well as
concerns over the Company's pension plan, which has been taken over
by the federal Pension Benefit Guaranty Corp.  

Mr. Jackson said his understanding is that the pension plan is 82%
funded and that "based on the outcome of this bankruptcy, some of
us may get a reduction in our annuities to support the future
retirees," Daily News reports.

Daily News relates that the Company also made payments to Hess
Corp. totaling $389,250 and payments to Hess Oil Virgin Islands
Corp., or HOVIC, of $480,070, during the year before.  The Company
is a joint venture between HOVIC, a wholly-owned subsidiary of
Hess, and PDVSA V.I.

                            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: Wins Court Approval for Auction
--------------------------------------------
Steven Church, writing for Bloomberg News, reported that Hovensa
LLC, a Caribbean oil refiner co-owned by Hess Corp., won court
approval to hold an auction for its refinery and oil terminal
assets on the Caribbean island of St. Croix.

According to the report, the  bankruptcy judge overseeing Hovensa's
Chapter 11 case said she will sign order after final adjustments
made by lawyers.  Hovensa also won court approval to borrow $40
million from Limetree Bay Holdings while in bankruptcy, company
said in a statement, the report related.

Hovensa entered into a definitive stalking horse asset purchase
agreement with Limetree pursuant to which Limetree will acquire the
Debtor's assets for $184 million, subjec to higher and better
bids.

                            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.


K & C LV INVESTMENTS: Case Summary & Largest Unsecured Creditor
---------------------------------------------------------------
Debtor: K & C LV Investments LLC
        2000 E. Cheyenne Ave.
        North Las Vegas, NV 89030

Case No.: 15-15808

Chapter 11 Petition Date: October 12, 2015

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Hon. August B. Landis

Debtor's Counsel: Seth D Ballstaedt, Esq.
                  THE BALLSTAEDT LAW FIRM
                  9480 S Eastern Ave. Suite 213
                  Las Vegas, NV 89123
                  Tel: (702) 715-0000
                  Fax: (702) 666-8215
                  Email: seth@ballstaedtlaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Wagih Kamar, managing member.

The Debtor listed Agua Fria Insurance Services as its largest
unsecured creditor holding a claim of $1.65 million.


KEEN EQUITIES: Files Chapter 11 Plan; Disclosures Hearing Oct. 22
-----------------------------------------------------------------
Almost two years since seeking bankruptcy protection, Keen
Equities, LLC, has finally proposed a reorganization plan that will
be funded by $1,800,000 in additional contributions by existing
investors.

Keen Equities will ask the U.S. Bankruptcy Court for the Eastern
District of New York at a hearing on Oct. 22, 2015 at 10:30 a.m. to
approve the disclosure statement, as amended, explaining the terms
of its proposed Chapter 11 plan of reorganization.

The Debtor expects the Greene Family, which asserts a secured claim
of $6.93 million to contest confirmation of the Plan.

                      The Chapter 11 Plan

The Debtor has a Chapter 11 plan that contemplates the
restructuring of the mortgage debt encumbering the Debtor's
development property in Orange County consisting of approximately
860 acres of largely vacant land (the "Lake Anne Property"),
utilizing principles of law recognized by the Supreme Court in Till
v. SCS Credit Corp., 541 U.S. 465, 124 S.Ct. 1951 (2004) ("Till").

The Lake Anne Property is encumbered by a purchase money mortgage
(the "Greene Family Mortgage") held by Hal J. Greene Living Trust,
David A. Greene, and Trust underwritten M Greene f/b/o Sabrina
Greene (the "Greene Family"), as successor to Lake Anne Realty
Corp.  The Greene Family Mortgage has a current principal balance
of $3,924,645 and was given to the Debtor in the original amount of
$10 million in connection with the Debtor's acquisition of the site
in 2006.  The Debtor originally paid $15 million for the Lake Anne
Property and thereafter paid down the mortgage to around $4
million.

In bankruptcy, the Greene Family filed a secured claim in the total
sum of $6,926,917, including alleged default interest and other
costs.  On Jan. 20, 2015, the Debtor objected to the Greene Family
Mortgage claim contending that the purported acceleration of the
debt was improper due to defective notice negating the Greene
Family's entitlement to pre-petition default interest.  The
Debtor's objection recognizes the allowability of principal and
accrued interest at the non-default rate and seeks to fix the claim
in the sum of $5,035,980.  The objection is pending and will run
concurrently with the confirmation process.  While the Debtor is
sanguine about its prospects, whatever amount is ultimately allowed
by the Bankruptcy Court shall be paid in full under the Plan, with
post-confirmation interest at a rate of 4.25% consistent with a
Till analysis.

The Plan will be financed through the new value contributions to be
made by the Debtor's investors, projected to aggregate
approximately $1,800,000.  Since the Chapter 11 filing, the
Debtor's investors have contributed total the sum of approximately
$3.2 million to re-launch development of the Lake Anne Property and
pay ongoing post-petition debt service to the Greene Family plus
real estate taxes and insurance.

The Plan treats claims and interests as follows:

   -- The allowed secured claim of the Greene Family (Class 1) in
such amount as finally determined by the Bankruptcy Court following
resolution of the Debtor's pending claim objection will be
restructured under a Till-based mortgage restructuring.

   -- The allowed secured or priority tax claims held by
governmental units, including State of New York and Orange County,
totaling $306,000 (Class 2) will be paid in full on the Effective
Date.

   -- The allowed claims of former tenants (Class 3), totaling
$4,852, will be paid in full within one year of the Effective
Date.

   -- The allowed unsecured claims of non-insider creditors (Class
4), totaling $29,440, will be paid in full within one year of the
Effective Date.

   -- The allowed claim of Erno Bodek, a former member of the
Debtor, whose membership interest was disluted after Bodek failed
to complete required capital contributions (Class 5), will be paid
the total sum of $100,000, amounting to 10% of the filed proof of
claim.  The payments to Bodek will be made in 12 equal consecutive
monthly installments commencing on the Effective Date.

   -- Each of the 11 investors currently holding equity interests
in the Debtor (Class 6) will be eligible to retain his continuing
membership interest in the Reorganized Debtor so long as the
investor continues to timely make all required capital
contributions.

In accordance with Section 1126(f) of the Bankruptcy Code, all
classes of claims that are impaired may vote to accept or reject
the Plan.  The Class 1 Secured Mortgage Claim of the Greene Family,
the Class 3 Claims of security deposits, and the Class 4 Claims of
General Unsecured Creditors are non-insider impaired classes
eligible to vote on the Plan.  The Class 5 claim is impaired, but
not entitled to vote on the Plan since Bodek is a former member of
the Debtor and an insider within the meaning of the Bankruptcy
Code.

                          4.25% Interest

Under the Plan, the Debtor will pay the allowed amount of the
Greene Family's secured mortgage claim as fixed by the Bankruptcy
Court, in full, over an extended new term of no later than 66
months (and perhaps a shorter period), including an immediate cash
pay-down of $1,000,000 to reduce the principal debt.  The remaining
principal balance will be paid together with post-confirmation
interest at a fixed rate of 4.25%.  This is consistent with the
Supreme Court principles in Till (Prime Rate of 3.25% plus 1% risk
factor).  Interest and amortization will be paid monthly commencing
30 days after the Effective Date in equal monthly installments of
$100,000 per month.  

The Debtor has prepared two amortization schedules, reflecting the
payments based on alternate scenarios: Scenario 1 projects payments
if the Debtor's claim objection is sustained, and Scenario 2
projects payments if the Debtor's claim objection is overruled.
The term could be as short as 43 months if the objection is
sustained, and 66 months if the objection is overruled.

Given the level of its continuing investment of approximately $3.2
million since the filing, the Debtor submits that there is a very
low risk of future mortgage defaults since it would be foolhardy to
infuse millions of dollars to re-launch the project, only to allow
the Greene Family Mortgage to again go into default.

The Greene Family has opposed the Debtor's claim objection and
moved for relief from the automatic stay to fix the amount of its
claim in the state court based upon an unconfirmed Referee's
report.  This motion will be heard in conjunction with the initial
hearings on the Debtor's claim objection.  In view of this
opposition, the Debtor anticipates a stern challenge, to the Plan
like involving an evidentiary hearing.

The Debtor believes the Plan should be confirmed even over the
possible objection of the Greene Family.

                           *     *     *

The Debtor on Sept. 18, 2015 filed a proposed Chapter 11 plan and
disclosure statement.  The Debtor immediately filed an Amended
Disclosure Statement also Sept. 18.

A copy of the Disclosure Statement is available for free at:

     http://bankrupt.com/misc/Keen_Equities_118_Am_DS.pdf

                        About Keen Equities

Keen Equities, LLC, is a New York limited liability company
consisting of 12 members/investors.  Keen Equities is the owner of
approximately 860 acres of vacant land (the Lake Anne property)
situated close to the Hassidic community of Kiryas Joel, in Monroe,
New York.  The Lake Anne Property was purchased in 2006 with the
goal of building residential homes to meet the growing needs of the
Kiryas Joel community (the project).

For many years, the project stalled because of resistance from the
Village of South Blooming Grove.  At various times, the Debtor
pursued litigation to challenge certain local action and ultimately
the Lake Anne Property became subject to foreclosure proceedings by
the Greene Family.

Keen Equities, LLC, sought Chapter 11 protection (Bankr. E.D.N.Y.
Case No. 13-46782) on Nov. 12, 2013.  The petition was signed by
Y.C. Rubin, the manager.  

Judge Nancy Hershey Lord presides over the case.

The Debtor disclosed total assets of $15.1 million and total
liabilities of $6.84 million.  

Goldberg Weprin Finkel Goldstein LLP serves as the Debtor's
counsel.


LYONDELL CHEMICAL: Court Rules in Favor of LR2 in Clawback Suit
---------------------------------------------------------------
Judge Robert E. Gerber of the United States Bankruptcy Court for
the Southern District of New York ruled in favor of Defendant LR2
Management, K/S, in the lawsuit filed by Lyondell Chemical Company,
et al., and Edward Weisfelner, as Trustee of the LB Litigation
Trust, seeking to recover alleged preferential transfers made by
Equistar Chemicals, LP, a Lyondell subsidiary, to LR2 Management,
K/S: one in the amount of $2,057,851 for payment of "freight
charges" and the other in the amount of $12,298 for reimbursement
of "quay dues".

The Court found that:

   (1) The Freight Charges Transfer was not avoidable because it
       satisfied the elements of the contemporaneous exchange
       defense under the Bankruptcy Code, and one of the ordinary
       course of business defenses.

   (2) The Quay Dues Transfer was not avoidable because it
       satisfied the elements of the ordinary business terms'
       defense.

Accordingly, the Court ruled in favor of LR2.

The adversary case is EDWARD WEISFELNER, as Trustee of the LB
LITIGATION TRUST, Plaintiff v. LR2 MANAGEMENT, K/S, Defendant, Adv.
Pro. No. 10-05358 (REG) (Bankr. S.D.N.Y.).

The case is captioned In re: LYONDELL CHEMICAL COMPANY, et. al.,
Chapter 11, Debtors, Case No. 09-10023 (Reg) (Jointly Administered)
(Bankr. S.D.N.Y.).

A full-text copy of Judge Gerber's decision dated September 18,
2015 is available at http://is.gd/bHi68afrom Leagle.com

Edward S. Weisfelner, as Litigation Trustee of the LB Litigation
Trust, Plaintiff, represented by:

         Thomas H. Montgomery, Esq.
         BROWN RUDNICK LLP
         7 Times Square
         New York, NY 10036
         Phone: +1.212.209.4800
         Fax: +1.212.209.4801

LR2 Management K/S, Defendant, represented by

         Peter A. Junge, Esq.
         JUNGE & MELE, LLP
         303 South Broadway
         Suite 470
         Tarrytown, NY 10591
         Phone: 212.269.0061
         Fax: 212.269.0515

                       About Lyondell Chemical

LyondellBasell Industries is one of the world's largest polymers,
petrochemicals and fuels companies.  Luxembourg-based Basell AF
and Lyondell Chemical Company merged operations in 2007 to form
LyondellBasell Industries, the world's third largest independent
chemical company.  LyondellBasell became saddled with debt as
part of the US$12.7 billion merger.  Len Blavatnik's Access
Industries owned the Company prior to its bankruptcy filing.

On Jan. 6, 2009, LyondellBasell Industries' U.S. operations,
led by Lyondell Chemical Co., and one of its European holding
companies -- Basell Germany Holdings GmbH -- filed voluntary
petitions to reorganize under Chapter 11 of the U.S. Bankruptcy
Code to facilitate a restructuring of the company's debts.  The
case is In re Lyondell Chemical Company, et al., Bankr. S.D.N.Y.
Lead Case No. 09-10023).  Seventy-nine Lyondell entities filed
for Chapter 11.  Luxembourg-based LyondellBasell Industries AF
S.C.A. and another affiliate were voluntarily added to Lyondell
Chemical's reorganization filing under Chapter 11 protection on
April 24, 2009.

Deryck A. Palmer, Esq., at Cadwalader, Wickersham & Taft LLP, in
New York, served as the Debtors' bankruptcy counsel.  Evercore
Partners served as financial advisors, and Alix Partners and its
subsidiary AP Services LLC, served as restructuring advisors.
AlixPartners' Kevin M. McShea acted as the Debtors' Chief
Restructuring Officer.  Clifford Chance LLP served as
restructuring advisors to the European entities.

LyondellBasell emerged from Chapter 11 bankruptcy protection in
May 2010, with a plan that provides the Company with US$3 billion
of opening liquidity.  A new parent company, LyondellBasell
Industries N.V., incorporated in the Netherlands, is the
successor of the former parent company, LyondellBasell Industries
AF S.C.A., a Luxembourg company that is no longer part of
LyondellBasell.  LyondellBasell Industries N.V. owns and operates
substantially the same businesses as the previous parent company,
including subsidiaries that were not involved in the bankruptcy
cases.  LyondellBasell's corporate seat is Rotterdam,
Netherlands, with administrative offices in Houston and
Rotterdam.


MAGNUM NETWORKS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Magnum Networks, LLC
        771 East HWY 80, Suite 201
        Forney, TX 75126

Case No.: 15-34153

Chapter 11 Petition Date: October 12, 2015

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Hon. Barbara J. Houser

Debtor's Counsel: Elliott S. Cappuccio, Esq.
                  PULMAN, CAPPUCCIO, PULLEN, BENSON & JONES LLP
                  2161 NW Military Highway, Ste. 400
                  San Antonio, TX 78213
                  Tel: (210) 222-9494
                  Fax: (210) 892-1610
                  Email: ecappuccio@pulmanlaw.com

                    - and -

                  Thomas Rice, Esq.
                  PULMAN, CAPPUCCIO, PULLEN, BENSON & JONES LLP
                  2161 N.W. Military Highway, Suite 400
                  San Antonio, TX 78213
                  Tel: (210) 222-9494
                  Fax: (210) 892-1610
                  Email: trice@pulmanlaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Nathan Nelson, general manager.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
AT&T                                    Trade         $1,234,472
PO Box 5011
Carol Stream, IL 60197-5011

All Access Telecom                Non-Purchase Money     $38,797

Mark Foster, Attorney at Law        Attorney Fees        $14,570

Verizon Cabs                            Trade             $7,563

All Access Telecom                      Lease             $6,172

AT&T SS7                                Trade             $4,350

Jonathan Abrams                         Trade             $1,435

Cogent Communications                   Trade               $783

Brett Nemeroff Consulting               Trade               $500

XO Communications, LLC Texas            Trade                $24

Onvoy-877G                              Trade                $18

NENA                                    Trade                 $0

Marla Riebock                           Trade                 $0

Level 3 Communications                  Trade                 $0

Javier E. Ridley                        Trade                 $0

General Datatech, L.P.                  Trade                 $0

Equinix, Inc.                           Trade                 $0

CT Corporation                          Trade                 $0

Compliance Solutions, Inc               Trade                 $0

Baker & Company                         Trade                 $0


MARY D. SLAEY: Ruling on Defaulted Loan Claim Reversed
------------------------------------------------------
A bankruptcy appeal presents the question whether the Bankruptcy
Court erred in allowing a creditor's claim against the debtor for a
defaulted loan where the claim is barred by the statute of
limitations unless the debtor's written agreement not to assert the
limitations bar is given effect.  A Virginia statute, Va. Code Sec.
8.01-232(A), limits and defines the circumstances under which
agreements not to assert the statute of limitations can be
enforced.  Thus, the question presented in this appeal is, more
precisely, whether the Bankruptcy Court, in allowing the creditor's
claim, correctly construed and applied this statute.

"The Bankruptcy Court did not do so and hence the allowance of the
barred claim must be reversed," said District Judge T.S. Ellis,
III, in a Sept. 1 Memorandum Opinion available at
http://is.gd/oeo2Obfrom Leagle.com.

P.H. Harrington, Jr., an attorney, loaned $235,000 to his
then-friend and client, Mary D. Slaey.

Slaey on February 4, 2013, initiated bankruptcy proceedings in the
Eastern District of Virginia by filing a petition for bankruptcy
pursuant to Chapter 11 of the Bankruptcy Code.  Harrington, by
counsel, then filed a creditor's claim in Slaey's bankruptcy
proceeding on September 4, 2013. The standard proof of claim form
submitted by Harrington identified the basis of the claim as "Money
Loaned and Unjust Enrichment," and the claim was in the total
amount of $523,706.38. This total amount included, inter alia,
$235,000 for the entire principal amount of a 2002 note, as well as
interest on the 2002 Note from July 10, 2002, to February 4, 2013.

The case is, MARY D. SLAEY, Appellant, v. P.H. HARRINGTON, JR.,
Appellee, BANKRUPTCY NO. 13-10541-RGM, CIVIL ACTION NO. 1:14CV1210
(E.D. Va.).

Mary D. Slaey is represented by:

     Gregory H. Counts, Esq.
     TYLER BARTL RAMSDELL & COUNTS PLC
     300 N Washington St
     Alexandria, VA 22314
     Tel: 703-549-5000

P. H. Harrington, Jr., Esq., represented by:

     Christopher Stuart Moffitt, Esq.
     CHRISTOPHER S. MOFFITT, P.C.
     218 North Lee Street, 3rd Floor
     Alexandria, VA 22314
     Tel: (703) 683-0075


MILAGRO OIL: Court Confirms Ch. 11 Plan of Reorganization
---------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware on Oct. 8, 2015, confirmed Milagro Holdings, LLC, et al.'s
Amended Joint Plan of Reorganization.

The Plan effects the transactions contemplated by the Contribution
Agreement and Restructuring Support Agreement, including the
discharge of Claims and Interests, primarily, through the: (a)
effectuation of the Contribution Agreement Transaction; (b) payment
of the Cash Payment by White Oak, which will be used, along with
cash on hand and the Rights Offering Proceeds to satisfy the Senior
Debt Claims, Allowed Administrative Claims (including DIP Claims),
Allowed Priority Tax Claims, Allowed Professional Fee Claims,
Allowed Other Priority Claims, and Allowed Other Secured Claims;
(c) receipt of the Milagro Interests from White Oak by the
Reorganized Debtor; (d) issuance of 100% of the Reorganized Debtor
Common Stock; (e) implementation of the Rights Offering; and (f)
delivery of the Cash-Out Payment to the Holders of Notes Claims
that are Non-Eligible Investors.  

Following the Effective Date, the Reorganized Debtor will be the
owner of the Milagro Interests, which are equity interests in White
Oak that are expected to be approximately 37.5% of the outstanding
interests in White Oak, but which are subject to final
determination in accordance with the terms of the Contribution
Agreement.

The Contribution Agreement Transaction has a Purchase Price of $217
million, which has two components: (1) White Oak will pay to the
Debtors cash in the amount of $120 million; and (2) White Oak will,
on the Effective Date, issue to the Reorganized Debtor the Milagro
Interests , which represent equity interests in White Oak with a
value of $97 million plus or minus the amount of Purchase Price
adjustments.  The Milagro Interests will be issued based on the
Deemed Equity Value of White Oak which is $265 million as adjusted
pursuant to the mechanism set forth in the Contribution Agreement.

Holders of Claims in Class 4 were eligible to vote to accept or
reject the Plan.  100% of the holders of Class 4 Claims voted to
accept the Plan.  Holders of Claims in Classes 1 through 3 are
Unimpaired and conclusively presumed to accept the Plan and
therefore, could not vote.  Holders of Claims or Equity Interests
in Classes 5 and 6 are impaired under the Plan, are entitled to no
recovery under the Plan, and are therefore deemed to have rejected
the Plan.  A full-text copy of the solicitation and tabulation
declaration of James Daloia of Prime Clerk LLC is available at
http://bankrupt.com/misc/MILAGROballot1006.pdf

Mike Bevacqua, Stuart Davies, and Ranesh Ramanathan, of Sankaty
Advisors, and Gilbert Nathan are proposed to serve as members of
the board of managers of the Reorganized Debtor.  It is anticipated
that Lloyd Armstrong, Gary Mabie, and Marshall Munsell, who are
currently serving as officers of the Debtors, will be employed by
the Reorganized Debtor.

In support of Plan confirmation, the Debtors filed the following
documents:

   * Second Amendment to the Restructuring Support Agreement, a
     full-text copy of which is available at
     http://bankrupt.com/misc/MILAGROrsa1007.pdf

   * Debtors' memorandum in support of confirmation, a full-text
     copy of which is available at
     http://bankrupt.com/misc/MILAGROmemo1007.pdf

   * declaration of Scott C. Winn, the Debtors' chief
     restructuring officer, in support of confirmation, a
     full-text copy of which is available at
     http://bankrupt.com/misc/MILAGROwinndec1006.pdf

   * third supplement to the Plan, a full-text copy of which is
     available at http://bankrupt.com/misc/MILAGRO3rdplansupp.pdf

   * second supplement to the Plan, a full-text copy of which is
     available at http://bankrupt.com/misc/MILAGRO2ndplansupp.pdf

   * first supplement to the Plan, a full-text copy of which is
     available at http://bankrupt.com/misc/MILAGRO1stplansupp.pdf

   * exhibits to the Disclosure Statement, full-text copies of
     which are available at
     http://bankrupt.com/misc/MILAGROdsex.pdf

                Objections Resolved, Overruled

To the extent not withdrawn or resolved, all objections to
confirmation of the Plan are overruled.  Guerra Brothers
Successors, Ltd., objected to the Plan to the extent that it
attempts to authorize the Debtors to assign the GBS Leases and in
its proof of claims on file because the leases terminated prior to
the Petition Date.  The Debtors and GBS have reached a resolution
of GBS's claims.

Judge Gross approved the Disclosure Statement on Sept. 1.  The Plan
was premised on a restructuring support agreement among the
Debtors, certain consenting noteholders, the secured lenders, the
equity holders, and White Oak Resources VI, LLC.  The Debtors
sought and obtained Court authority to assume the RSA.  Prior to
the deadline for objecting to the Debtors' request for approval of
the RSA, the U.S. Trustee lodged informal comments, which the
Debtors resolved.  A full-text copy of the RSA is available at
http://bankrupt.com/misc/MILAGROrsa0831.pdf

A full-text copy of the Disclosure Statement is available at
http://bankrupt.com/misc/MILAGROds0901.pdf

M. Blake Cleary, Esq., Joel A. Waite, Esq., Ryan M. Bartley, Esq.,
and Ian J. Bambrick, Esq., at Young Conaway Stargatt & Taylor, LLP,
in Wilmington, Delaware; and John F. Higgins, Esq., and Eric M.
English, Esq., at Porter Hedges LLP, in Houston, Texas, represent
the Debtors.

Attorneys for Guerra Brothers Successors, Ltd.:

         Tobey M. Daluz, Esq.
         Leslie C. Heilman, Esq.
         BALLARD SPAHR LLP
         919 North Market Street, 11th Floor
         Wilmington, DE 19801
         Telephone: (302) 252-4465
         Facsimile: (302) 252-4466
         E-mail: daluzt@ballardspahr.com
                 heilmanl@ballardspahr.com

            -- and --

         William B. Kingman, Esq.
         LAW OFFICES OF WILLIAM B. KINGMAN, P.C.
         4040 Broadway, Suite 450
         San Antonio, TX 78209
         Telephone: (210) 829-1199
         Facsimile: (210) 821-1114
         Email: bkingman@kingmanlaw.com

                          About Milagro Oil

Based in Houston, Texas, Milagro Oil & Gas, Inc. is an independent
oil and gas companies primarily engaged in the acquisition,
exploration, exploitation, development, production and sale of oil
and natural gas reserves.  Milagro's historic geographic focus has
been along the onshore Gulf Coast area, primarily in Texas,
Louisiana and Mississippi. Milagro has 1,200 wells in South Texas,
along the Gulf Coast and in Louisiana.

As of March 31, 2015, the book value of Milagro's total assets and
liabilities was approximately $390 million and $468 million,
respectively.  Milagro generated revenues of $153.1 million and
$23.5 million during the fiscal year ended Dec. 31, 2014 and the
three month period ended March 31, 2015, respectively.

On July 15, 2015, Milagro Oil & Gas, its parent Milagro Holdings,
LLC, and four affiliated entities each filed a voluntary petition
for relief under Chapter 11 of the United States Bankruptcy Code
in
the United States Bankruptcy Court for the District of Delaware.
The cases are pending before the Honorable Kevin Gross and are
jointly administered under In re Milagro Holdings, Case No.
15-11520.

The Debtors tapped (i) Porter Hedges LLP as general counsel; (ii)
Young Conaway Stargatt & Taylor, LLP, as local counsel; (iii)
Zolfo Cooper, LLC, as restructuring advisors; and (iv) Prime Clerk
LLC as claims and noticing agent.

Noteholders that are parties to the RSA have tapped (i) Akin Gump
Strauss Hauer & Feld LLP, as legal counsel, (ii) Richards,
Layton & Finger, P.A., as Delaware legal counsel, and (iii)
Blackstone Advisory Partners L.P., as financial advisor.  Balmoral
Advisory Services LLC serves as financial advisor and investment
banker.


MINERAL PARK: Settles Disputes with Admin. Agent, Evercore
----------------------------------------------------------
Mineral Park Inc., et al., ask the United States Bankruptcy Court
for the District of Delaware to approve a settlement with Evercore
Group L.L.C. and Societe Generale.

Mineral Park owned and operated a producing copper-molybdenum mine
located near Kingman, Arizona.  The Court authorized Mineral Park
and Bluefish to retain Evercore as their investment banker.
Pursuant to the Final Cash Collateral Order, Societe General, as
administrative agent, and the Lenders consented to the Debtors' use
of Cash Collateral to fund the costs and expenses of administering
the Debtors' Chapter 11 cases.  In exchange, the Agent and the
Lenders were granted Superpriority Claims and Adequate Protection
Liens on substantially all of the Debtors' assets to protect
against any diminution in value of the Prepetition Collateral.

The Final Cash Collateral Order includes a "Carve-Out" for, among
other things, certain fees and expenses of the professionals
retained by the Debtors and the Official Committee of Unsecured
Creditors.  Pursuant to a settlement, the Agent is currently
reserving funds in an amount equal to (x) all unpaid professional
fees and expenses that are entitled to the benefit of the Carve-Out
for services rendered from the Petition Date through January 14,
2015, plus (y) an amount equal to $500,000 less the aggregate
amount previously paid by the Debtors on account of the Debtors'
professional fees and expenses incurred after January 14, 2015.

Pursuant to a consent order, the Debtors (i) distributed $4,007,911
of the Cash Proceeds to Mohave County, Arizona, (ii) distributed
$5,442,843 of the Cash Proceeds to Trafigura, and (iii) retained
$445,323 of the Cash Proceeds on account of the Surcharge Expenses.
Pursuant to the Consent Order, the Surcharge Amount may not be
distributed by the Debtors or the Agent absent further order of the
Bankruptcy Court.

To avoid the expense and uncertainty of protracted litigation, the
Debtors, Evercore and the Agent desire to settle their disputes
according to the terms of the Settlement Agreement.  The material
provisions of the Settlement Agreement are as follows:

   (1) the Debtors will disburse the Surcharge Amount as follows:
(i) $222,661 to Evercore and (ii) $222,661 to the Agent;

   (2) upon receipt, the Agent may immediately apply the Lender
Distribution in reduction of the Prepetition Obligations and
Evercore may immediately apply the Evercore Distribution to the
Sale Fee;

   (3) the Monthly Fee Claim will be entitled to payment from the
Pre-Trigger Date Reserve, subject to final allowance of such claim
by the Bankruptcy Court;

   (4) upon payment of the Evercore Distribution, Evercore will be
deemed to have released any and all right, claim or interest
whatsoever in or to the Sale Proceeds and the Cash Collateral;
provided, however, that Evercore will retain the right to seek
payment of the balance of the Sale Fee Claim from the Post-Trigger
Date Reserve and its right to payment of the Monthly Fee Claim from
the Pre-Trigger Date Reserve; and

   (5) all parties' rights are reserved with respect to the
ultimate allocation of the Post-Trigger Date Reserve.

According to Jeremy V. Richards, Esq., at Pachulski Stang Ziehl &
Jones LLP, in Wilmington, Delaware, the Settlement Agreement
represents a fair and equitable resolution of the disputes among
the Debtors, Evercore and the Agent, without the costs, delays and
risks of litigation.  Mineral Park made cash disbursements of the
Lenders' Cash Collateral in an aggregate amount of $67,903,844 from
the period from the Petition Date through May 31, 2015.  These
funds were used to pay, among other things, certain Surcharge
Expenses. The Lenders retain a secured claim in excess of $100
million on account of advances made under the Credit Agreement and
Risk Management Agreements.  With the completion of the liquidation
of substantially all of the Debtors' assets, it is now clear that
the Lenders will recover only a small fraction of their claim.  The
Superpriority Claim and Adequate Protection Liens attached
automatically to the Surcharge Amount upon entry of the Consent
Order.  Accordingly, the Agent asserts that the Surcharge Amount
should be paid to the Agent to reimburse the Lenders for Mineral
Park's use of their Cash Collateral to pay the Surcharge Expenses
in accordance with the Superpriority Claim and Adequate Protection
Liens.

Evercore alleges that it is owed at least $1,546,976.11 for
services performed during the Debtors' Chapter 11 cases.  The
amount includes $1,000,000 for the Sale Fee Claim and $210,458.46
for the Monthly Fee Claim. Evercore asserts that the Surcharge
Amount should be paid to Evercore on account of the Sale Fee Claim
and the Monthly Fee Claim.

The Settlement Agreement, according to Mr. Richards, provides for a
complete resolution of the distribution of the Surcharge Amount and
certain related issues.  Specifically, the Settlement Agreement
provides for an even split of the Surcharge Amount between Evercore
and the Agent (i.e. $222,661.77 for each party).  The Settlement
Agreement further clarifies that the Monthly Fee Claim will be paid
out of the Pre-Trigger Date Reserve.  With respect to the Sale Fee
Claim, Evercore will release all claims against the Debtors, the
Agent and the Lenders with other than its $222,661.77 distribution
and any additional amounts that Evercore is ultimately allocated
from the Post-Trigger Date Reserve.  Lastly, the Settlement
Agreement preserves all parties' rights with respect to the
ultimate allocation of the Post-Trigger Date Reserve. Various
parties in-interest, including the Debtors, Evercore and the
Chapter 11 Professionals, have disputed whether the Sale Fee Claim
may be paid from the Post-Trigger Date Reserve and, if so, to what
extent.

Empire Southwest, LLC, objected to the motion and asserted that
Empire is an administrative claimant with an allowed administrative
claim of $897,637.  The Debtors' have paid their professionals in
such a way as to violate their fiduciary responsibilities to their
other administrative creditors, Empire complains.  Allowing the
Debtors to continue to do so is not fair and equitable and should
be condoned, Empire asserts.  The Court should not approve the
Settlement motion and should further order the Debtors to provide
an accounting of all professional fees paid in the case along with
the Debtors' calculation of the cash remaining in the carve-out
reserve provided for in the reclamation cash agreement, Empire
further asserts.

Resolute Performance Contracting, LLC, joined in Empire's
objection.

Mineral Park Inc., et al. are represented by:

          Jeremy V. Richards, Esq.
          Maxim B. Litvak, Esq.
          James E. O'Neill, Esq.
          PACHULSKI STANG ZIEHL &JONES LLP
          919 North Market Street, 17th Floor
          P.O. Box 8705
          Wilmington, DE 19899-8705
          Tel: (302) 652-4100
          Fax: (302) 652-4400
          E-mail: jrichards@pszjlaw.com
                  mlitvak@pszjlaw.com
                  joneill@pszjlaw.com

Empire Southwest, LLC d/b/a Empire Machinery is represented by:

          Michael Busenkell, Esq.
          GELLERT SCALI BUSENKELL & BROWN, LLC
          913 Market Street, 10th Floor
          Wilmington, DE 19801
          Tel: (302) 425-5812
          Fax: (302) 425-5814
          Email: mbusenkell@gsbblaw.com

                - and -

          Warren J. Stapleton, Esq.
          OSBORN MALEDON, P.A.
          2929 North Central Avenue
          Twenty-First Floor
          Phoenix, AZ 85012
          Tel: (602) 640-9354
          Fax: (602) 640-9050
          Email: wstapleton@omlaw.com

Resolute Performance Contracting, LLC is represented by:

          Tobey M. Daluz, Esq.
          Leslie C. Heilman, Esq.
          919 N. Market Street, 11th Floor
          Wilmington, DE 19801
          Tel: (302) 252-4465
          Fax: (302) 252-4466
          E-mail: daluzt@ballardspahr.com
                  heilmanl@ballardspahr.com

                     About Mineral Park

Mineral Park, Inc., Bluefish Energy Corp. and two affiliates
commenced proceedings under Chapter 11 of the Bankruptcy Code in
Delaware on Aug. 25, 2014.  The cases are pending before the
Honorable Kevin J. Carey and are jointly administered under Case
No. 14-11996.

Mineral Park and its affiliated debtors are subsidiaries of
Mercator Minerals Ltd. ("MML"), a mineral resource company engaged
through various subsidiaries in the mining, exploration,
development and operation of its mineral properties in Mohave
County, Arizona, and Sonora, Mexico.

Mineral Park's principal asset is the Mineral Park Mine, a
producing copper-molybdenum mine located near Kingman, Arizona.
Bluefish is the owner and operator of the industrial gas turbine
power generator at the Mine.

British Columbia, Canada-based MML, which has shares trading on
the
Toronto Stock Exchange under the trading symbol "ML", is not
included in the bankruptcy filing.

The Debtors have tapped Pachulski Stang Ziehl & Jones LLP as
counsel, Evercore Group LLC as investment banker, FTI Consulting,
Inc., as financial advisor, FTI's David J. Beckman as CRO, and
FTI's Paul Hansen as assistant CRO.  Prime Clerk LLC is the claims
and noticing agent.

The U.S. Trustee for Region 3 appointed three creditors of Mineral
Park, Inc. and its affiliates to serve on the official committee of
unsecured creditors.  The Committee selected Stinson Leonard Street
LLP and Hiller & Arban LLC as its counsel.

Mineral Park reported $286 million in total assets and $266 million
in total liabilities.


MONTREAL MAINE: U.S. Judge Approves Great American Settlement
-------------------------------------------------------------
Judge Peter G. Cary of the U.S. Bankruptcy Court of the District of
Maine on Oct. 9, 2015, approved a compromise and settlement between
the Chapter 11 trustee of Montreal Maine & Atlantic Railway, Ltd.,
and Great American Insurance Company and certain insureds.  Great
American has agreed to pay the Trustee $3,000,000 within five days
of the execution date of their settlement agreement.

The Trustee requested for an expedited hearing of the Settlement
Motion.  A hearing on the Motion was held on Oct. 9, alongside the
confirmation of the bankruptcy exit Plan for Montreal Maine.

Lindsay K. Zahradka, Esq., at Bernstein, Shur, Sawyer & Nelson,
counsel for the Trustee, said in court papers it is necessary to
consider the Motion together with, indeed prior to, confirmation of
the Plan because, if the Motion is granted, (a) the GA Payment will
augment the Trustee's settlement fund distributable under the Plan
and (b) GA would become a released party under the Plan.  Such
relief would not be available to GA after confirmation, and thus a
critical element of consideration for the settlement would be
lost.

                       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.

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.

The law firm of Verrill Dana serves as counsel to the Debtor.

Robert J. Keach, Esq., at Bernstein, Shur, Sawyer, and Nelson,
P.A., is the Chapter 11 trustee.  Lindsay K. Zahradka and 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.

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,

                           *     *     *

Judge Peter G. Cary of U.S. Bankruptcy Court in Bangor, Maine, on
Oct. 9, 2015, approved Montreal, Maine & Atlantic Railway's
bankruptcy-exit plan, day after a Canadian judge gave conditional
approval to the plan.  The exit plan earmarks about $86 million to
families of those who died from the explosive crash.  The plan
provides for the creation of a C$446 million settlement fund for
victims of the derailment.


MONTREAL MAINE: U.S. Judge Enters Plan Confirmation Order
---------------------------------------------------------
Judge Peter G. Cary of the U.S. Bankruptcy Court of the District of
Maine on Oct. 9, 2015, entered an order confirming the Revised
First Amended Plan of Liquidation filed by the Chapter 11 trustee
of Montreal Maine & Atlantic Railway, Ltd.

The Plan is premised on the creation of a C$446 million settlement
fund for the benefit of all victims of the train derailment in 2013
that killed 47 people.  

The Trustee on July 7 filed a First Amended Plan of Liquidation and
on July 15 a Revised First Amended Plan of Liquidation.  The U.S.
Bankruptcy Court on July 17 approved the Disclosure Statement and
set a Sept. 24 hearing to consider confirmation of the Plan.

Objections to confirmation of the Plan were timely filed by:

     (a) New Brunswick Southern Railway Company Limited and
         Maine Northern Railway Company;
     (b) Canadian Pacific Railway Company; and
     (c) Wheeling & Lake Erie Railway Company.

At the Sept. 24 confirmation hearing, the parties introduced all
testimony to be offered in support of, or in opposition to,
confirmation of the Plan by declaration or proffer, the testimonial
record was closed, subject to the rights of the parties to assert
reserved evidentiary objections, and the confirmation hearing was
continued to Oct. 5, and then subsequently continued to Oct. 9.

Contingent upon entry of the Confirmation Order containing the
judgment reduction provisions set forth at paragraphs 63 through 70
(and an amendment of the CCAA Approval Order to include
substantially identical provisions), CP has agreed to (a) withdraw
with prejudice the CP Objection; (b) withdraw with prejudice its
motion seeking leave to appeal the CCAA Approval Order; and (c)
dismiss with prejudice its appeal of the Chapter 15 Recognition and
Enforcement Order.

The Trustee has resolved all other Objections by provisions in the
Confirmation Order.

A copy of the Trustee's Sept. 17, 2015 memorandum in support of
confirmation of the Plan is available for free at:

   http://bankrupt.com/misc/Montreal_M_1684_Plan_Memo.pdf

A copy of the Court's Oct. 9 order confirming the Plan is available
for free at:

   http://bankrupt.com/misc/Montreal_M_1801_Plan_Order.pdf

                    C$446-Mil. Settlement Plan

Robert J. Keach, the chapter 11 trustee, filed on March 31, 2015, a
Chapter 11 plan that contemplates the creation of a settlement fund
for the benefit of all victims of the train derailment in 2013 that
killed 47 people.  The Trustee on July 7 filed a First Amended Plan
of Liquidation and on July 15 a Revised First Amended Plan of
Liquidation.

The Plan is funded in part by contributions and settlement
agreements with various parties with potential liability arising
out of the derailment, and including, without limitation, such
parties' insurance companies.  

The Trustee, the Monitor and MMA Canada worked collectively from
the commencement of the cases to engage in settlement discussions
with various parties identified as potentially liable for damages
arising from the Derailment.  As a result of these negotiations,
approximately 25 entities or groups of affiliated entities entered
into Settlement Agreements, whereby the Released Party will
contribute Settlement Funds in exchange, inter alia, for a full and
final release of all Claims arising out of the Derailment,
including any Claims for contribution and/or indemnity asserted by
third parties, as well as the protection of a global injunction
barring assertion of any Derailment-related Claims against the
Released Parties.  The settlement funds constitute, as of Sept. 17,
2015, approximately C$446 million.

The Trustee's Chapter 11 plan will distribute the C$446 million
(US$343 million) to creditors, including families of the 48 people
who died during the 2013 trail derailment accident.  According to
the latest iteration of the Disclosure Statement, the Plan proposes
to satisfy claims on account of the derailment as follows:

     C$191 million -- Government agencies, including the Province
                      of Quebec, city of Lac-Megantic and the
                      Canadian government will split over C$191
                      million in full and final satisfaction of
                      their allowed claims.

     C$111 million -- Families of those who died are expected to
                      receive over C$111 million to satisfy their
                      allowed wrongful death claims.  The WD
                      Trust will make distributions to creditors
                      holding derailment wrongful death claims.

      C$48 million -- Holders of allowed derailment moral damages
                      and personal-injury claims are in line for
                      more than C$48 million.

      C$41 million -- Holders of allowed derailment property
                      damage claims are to receive more than
                      C$41 million.

      C$16 million -- Holders of allowed derailment subrogated
                      insurance claims will receive more than
                      C$16 million.

If the aggregate value of the derailment property damage claims is
reduced below C$75 million, any difference between C$75 million and
the revised aggregate value of these claims will be allowed and
added, on a pro-rated basis, to the value of the other derailment
claims.

With respect to non-derailment claims, the estate representative
will distribute the Debtor's cash and convert to cash all other
remaining property of the Debtor, including causes of action.  The
Plan provides that:

  * Assets are expected to be sufficient to pay all
    administrative expense claims and priority tax claims.

  * Holders of secured claims are unimpaired.

  * General unsecured claims are estimated to aggregate between
    approximately $49 and $66 million (taking into account claims
    which will be released under settlement agreements).
    Depending on the amount of residual assets, which is
    dependent on the outcome of litigation or settlements,
    holders of allowed general unsecured claims will receive
    distributions on a range of 1.3% to 88.4% of the allowed
    amount of their claims.

  * There will be no recovery for holders of subordinated claims
    unless and until all allowed general unsecured claims are
    paid in full.  At this time, the Trustee does not expect that
    holders of subordinated claims will receive anything under
    the Plan.

  * There will be no recovery for holders of equity interests
    unless and until all allowed claims are paid in full.  At
    this time, the Trustee does not expect that holders of equity
    interests will receive any distributions under the Plan.

Holders of derailment claims and unsecured claims were impaired and
thus entitled to vote on the Plan.  As holders of subordinated
claims and equity interests won't be receiving anything, they were
deemed to reject the Plan.

On Sept. 17, 2015, Prime Clerk, LLC, the Trustee's noticing and
solicitation agent, filed the Voting Certification, certifying,
among other things, the results of the ballot tabulation for the
votes to accept or reject the Plan.  As set forth in the
certification, 2,548 creditors voted on the Plan and, of those
creditors, 2,547 voted to accept the Plan.  Classes 8, 9, 10, 11,
12 and 13 voted to accept the Plan.

                           *     *     *

According to The Wall Street Journal, a sizable part of the
settlement funds will be contributed by a number of oil companies
seeking to avoid litigation over the highly volatile fuel the train
was carrying. The companies, which deny liability, include Royal
Dutch Shell PLC, Marathon Oil Corp. and ConocoPhillips.

The report also noted that Canadian Pacific Railway, which first
transported the crude oil that Montreal Maine took on board, isn't
contributing to the fund but withdrew its objection to the deal,
allowing victims to begin receiving payments. Spokesman Marty Cej
said the company always supported the Lac-Megantic compensation
fund for those affected by the incident.

"No amount of money can put people's lives back together or put the
town back together, but we're happy to be able to get money into
the hands of the victims just a little over two years after this
horrific accident," Mr. Keach said on Oct. 9, according to a report
by The Wall Street Journal.  He said victims will be receiving
payments by the end of the year and, possibly, as soon as the end
of next month.

                       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.

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.

The law firm of Verrill Dana serves as counsel to the Debtor.

Robert J. Keach, Esq., at Bernstein, Shur, Sawyer, and Nelson,
P.A., is the Chapter 11 trustee.  Lindsay K. Zahradka and 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.

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.


MONTREAL MAINE: Wins Partial Summary Dismissal of Wheeling Suit
---------------------------------------------------------------
Chief Judge Nancy Torresen of the United States District Court for
the District of Maine granted Defendant Maine Northern Railway
Company and New Brunswick Southern Railway Co.'s Motion for Partial
Summary Judgment in the lawsuit for money claims filed by Plaintiff
Wheeling & Lake Erie Railway Company.

The action arise from a security agreement with Montreal, Maine &
Atlantic Railway, Ltd., and its affiliates.  The Defendants,
according to the lawsuit, owed money to MMA U.S., and these
accounts receivable were assigned to the Plaintiff as part of a
security agreement between the Plaintiff and MMA U.S.

The Defendants claimed, among other defenses, that they have valid
rights of recoupment or set-off that exceed the amounts sought by
the Plaintiff. The Defendants further argued that the Plaintiff's
claims were barred because the Defendants' rights of set-off and/or
recoupment accrued prior to the time they received authenticated
notification from either the Plaintiff or MMA US of Plaintiff's
purported security interest in MMA US's accounts receivable.

At issue in these cross-motions for partial summary judgment was
whether the Defendants received the required notice cutting off
subsequent claims and defenses when they obtained credit reports
from Dun & Bradstreet indicating the existence of the Plaintiff's
security interest.

The court granted Defendants' motion for partial summary judgment:

   (1) the credit reports did not constitute the required notice
       under the law; and

   (2) the Plaintiff's rights as a secured creditor are subject to
       all claims and defenses of the Defendants that had accrued
       at the time MMA U.S. filed its petition for bankruptcy
       relief in 2013.

The case is captioned WHEELING & LAKE ERIE RAILWAY COMPANY,
Plaintiff, v. MAINE NORTHERN RAILWAY COMPANY AND NEW BRUNSWICK
SOUTHERN RAILWAY CO., Defendants, Civil No.1:14-CV-325-NT (D.
Maine).

A full-text copy of Judge Torresen's Order dated September 15,
2015, is available at  http://is.gd/AXn263from Leagle.com.

Wheeling & Lake Erie Railway Company, Plaintiff, represented by
George J. Marcus, Esq.-- gmarcus@mcm-law.com -- MARCUS, CLEGG &
MISTRETTA, P.A., Andrew C Helman, Esq.-- ahelman@mcm-law.com --
MARCUS, CLEGG & MISTRETTA, P.A.

Maine Northern Railway Company, Defendant, represented by Alan R.
Lepene, Esq.-- Alan.Lepene@ThompsonHine.com -- THOMPSON HINE LLP,
James J. Henderson, Esq. -- James.Henderson@ThompsonHine.com --
THOMPSON HINE LLP; and Eric J. Wycoff, Esq. --
ewycoff@pierceatwood.com -- PIERCE ATWOOD LLP.

New Brunswick Southern Railway Company, Defendant, represented by
Alan R. Lepene, Esq., and James J. Henderson, Esq., at THOMPSON
HINE LLP; and Eric J. Wycoff, Esq., at PIERCE ATWOOD LLP.


NAVIOS ACQUISITION: Moody's Raises CFR to B2, Outlook Stable
------------------------------------------------------------
Moody's Investors Service has upgraded to B2 from B3 the corporate
family rating of tanker vessel owner and operator Navios Maritime
Acquisition Corporation (Navios Acquisition), a company listed on
NYSE.  At the same time, Moody's has upgraded to B2-PD from B3-PD
its probability of default rating (PDR) and to B2 from B3 its
senior secured rating.  The outlook on all the ratings is stable.

"Our decision to upgrade Navios Acquisition's ratings reflects the
company's material deleveraging over the past year, helped by
improved tanker market rates, and our view that the recent credit
metrics' improvement is sustainable," says Marie Fischer-Sabatie, a
Moody's Senior Vice President and lead analyst for the issuer.

RATINGS RATIONALE

The rating action reflects Navios Acquisition's material
deleveraging over the past year with the company's debt/EBITDA
ratio (including Moody's adjustments) now being commensurate with a
B2 rating having fallen to approximately 6x at end-June 2015.

Between 2010 and 2014, Navios Acquisition made a series of vessel
acquisitions in order to build its fleet, which now comprises 37
vessels.  These acquisitions weighed on its financial profile,
which remained highly leveraged until 2014 (debt/EBITDA of 8x in
2014).  Navios Acquisition's fleet has now reached a critical size
and, with all its vessels being in operation and generating EBITDA,
its financial profile has started to materially improve.

At the same time, the tanker segment, in which Navios Acquisition
operates, has enjoyed more favourable market conditions since
end-2014 with rates increasing materially on the back of improved
demand levels, which have been supported by low oil prices, and
limited supply growth.  Moody's expects that leverage will fall
further by end-2015, supported by the currently higher rates.

While more elevated supply growth could pressure tanker rates in
2016, Moody's still expects that Navios Acquisition's financial
profile will remain in line with a B2 rating because (1) Navios
Acquisition's financial policy will likely remain supportive of the
B2 rating; and that, in particular, (2) future vessel acquisitions
will be financed conservatively and share buybacks remain limited.

RATIONALE FOR THE STABLE OUTLOOK

The stable outlook reflects Moody's view that, in spite of market
conditions, which are likely to become somewhat less favourable in
2016, Navios Acquisition will be able to maintain credit metrics in
line with the B2 rating, as well as an adequate liquidity profile.

WHAT COULD CHANGE THE RATING UP/DOWN

Positive pressure on Navios Acquisition's ratings could arise if
the company's debt/EBITDA ratio were to fall below 5.0x and its
(fund from operations (FFO) + interest)/interest expense ratio were
to rise above 3.5x on a sustainable basis.

Negative pressure on the ratings could arise if Navios
Acquisition's debt/EBITDA ratio were to rise above 6.0x and/or its
(FFO + Interest)/Interest Expense ratio were to fall below 2.5x for
a prolonged period of time.  Moreover, any weakening of Navios
Acquisition's liquidity could trigger a downgrade of its ratings.

Navios Acquisition, a company listed on NYSE, was created in 2008
as an acquisition vehicle of the Navios Group and became
operational in May 2010.  As of June 30, 2015, Navios Acquisition
had a fleet of 37 crude oil and product tanker vessels in the water
and total revenues of $301 million on a last-twelve-month basis.
Navios Acquisition's main shareholder and sponsor is Navios
Maritime Holdings, Inc. (B2 negative), which currently has a 46.1%
economic interest in the company.



NEW CENTURY MORTGAGE: US Bank Wins Summary Judgment in "Koufos"
---------------------------------------------------------------
Judge Denise J. Casper of the United States District Court for the
District of Massachusetts allowed the motion for summary judgment
filed by the U.S. Bank National Association and Select Portfolio
Servicing, Inc, on the remaining claims of the Estate of Peter H.
Koufos and their counterclaim for title and possession.

On January 26, 2005, Koufos refinanced his home and executed a
promissory note in the amount of $344,250 to New Century Mortgage
Corporation, secured by a mortgage on his property located at 19
Skyline Drive, in Medway, Massachusetts.  On July 13, 2005, the
servicing rights of the mortgage were transferred from New Century
to SPS with notice to Koufos.  Koufos defaulted on the mortgage and
entered into a forbearance agreement with SPS on January 4, 2008.
Koufos subsequently defaulted under the forbearance agreement.

On April 9, 2009, SPS assigned the mortgage to U.S. Bank as Trustee
for the CSFB Mortgage Pass-Through Certificates Series 2005-CF1
(the "Trust") and recorded the assignment on April 21, 2009.  The
Trust then proceeded with foreclosure against Koufos, and the Trust
purchased the property as the highest bidder at the public
foreclosure auction conducted on August 1, 2012.

On April 24, 2012, Koufos sued U.S. Bank, SPS, Lender Processing
Services, LPS Default Solutions, New Century and Ablitt & Scofield,
P.C., asserting claims that relate to the Trust's foreclosure on
Koufos' residence.  When Koufos died during the pendency of the
lawsuit, James Koufos, the administrator of Peter Koufos' estate,
was substituted as plaintiff.  U.S. Bank and SPS subsequently moved
for summary judgment on Koufos' remaining claims and on their
counterclaim for title and possession of the property.

Judge Carper held that the Trust owned the promissory note and the
right to foreclose on the mortgage at the time of foreclosure.  The
judge concluded that Koufos has not introduced evidence sufficient
to raise a genuine dispute of fact as to the Trust's ownership of
the promissory note and its right to foreclose upon the mortgage.
As such, Judge Carper also found no remaining viable theory of
concerted action on the part of the defendants to wrongfully
collect or foreclose upon the mortgage.  Neither did Koufos prevail
on his unjust enrichment claim because he failed to prove that the
acceptance of loan payments or foreclosure proceeds by the
defendants was wrongful.

Finally, Judge Carper held that the Trust is entitled to title and
possession of the property because U.S. Bank and SPS were able to
make a prima facie showing of this right to possession by producing
certified copies of the foreclosure deed and affidavit.

The case is PETER H. KOUFOS, Plaintiff, v. U.S. BANK, N.A, as
Trustee on Behalf of the Holders of the CFSB Mortgage Pass-Through
Certificates Series 2005-CF1, et al., Defendants, CIVIL ACTION NO.
12-10743-DJC (D. Mass.).

A full-text copy of Judge Casper's September 8, 2015 memorandum and
order is available at http://is.gd/u2NgiZfrom Leagle.com.

James Koufos and Peter H. Koufos are represented by:

          Glenn F Russell, Jr., Esq.
          LAW OFFICE OF GLENN F. RUSSELL JR.
          38 Rock Street Suite #12
          Fall River, MA 02720

U.S. Bank National Association, Select Portfolio Servicing is
represented by:

          Peter Francis Carr, II, Esq.
          Charlotte L. Bednar, Esq.
          Gabriel T. Dym, Esq.
          ECKERT SEAMANS CHERIN & MELLOTT, LLC
          Two International Palace 16th Floor
          Boston, MA 02110
          Tel: (617) 342-6800
          Fax: (617) 342-6899
          Email: pcarr@eckertseamans.com
                 cbednar@eckertseamans.com
                 gdym@eckertseamans.com

                   About New Century

Founded in 1995, Irvine, Calif.-based New Century Financial
Corporation (NYSE: NEW) -- http://www.ncen.com/-- was a real  
estate investment trust, providing mortgage products to borrowers
nationwide through its operating subsidiaries, New Century
Mortgage Corporation and Home123 Corporation.   The Company was
among firms hit by the collapse of the subprime mortgage business
industry in 2006.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins, Esq.,
Michael J. Merchant, Esq., and Jason M. Madron, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors.  The Official
Committee of Unsecured Creditors selected Hahn & Hessen as its
bankruptcy counsel and Blank Rome LLP as its co-counsel.

When the Debtors filed for bankruptcy, they disclosed total assets
of $36,276,815 and total debts of $102,503,950.

The Company sold its assets in transactions approved by the
Bankruptcy Court.  The Bankruptcy Court confirmed the Second
Amended Joint Chapter 11 Plan of Liquidation of the Debtors and the
Official Committee of Unsecured Creditors on July 15, 2008, which
became effective on Aug. 1, 2008.  An appeal was taken and, on July
16, 2009, District Judge Sue Robinson issued a Memorandum Opinion
reversing the Confirmation Order.  On July 27, 2009, the Bankruptcy
Court entered an Order Granting Motion of the Trustee for an Order
Preserving the Status Quo Including Maintenance of Alan M. Jacobs
as Liquidating Trustee, Plan Administrator and Sole Officer and
Director of the Debtors, Pending Entry of a Final Order Consistent
with the District Court's Memorandum Opinion.

On Nov. 20, 2009, the Court entered an Order confirming the
Modified Second Amended Joint Chapter 11 Plan of Liquidation.  The
Modified Plan adopted, ratified and confirmed the New Century
Liquidating Trust Agreement, dated as of Aug. 1, 2008, which
created the New Century Liquidating Trust and appointed Alan M.
Jacobs as Liquidating Trustee of New Century Liquidating Trust and
Plan Administrator of New Century Warehouse Corporation.


NEWARK WATERSHED: Sues Ex-Employees Over Bankruptcy Claims
----------------------------------------------------------
Martin Bricketto at Bankruptcy Law360 reported that a defunct
Newark, New Jersey, water infrastructure agency on Oct. 6, 2015,
sued dozens of onetime employees to sink demands for
severance-related compensation in its bankruptcy, claiming
settlement agreements or incentive packages bar those claims and
that the employees are looking to enforce an illegal severance
policy.

The Newark Watershed Conservation and Development Corp. contends in
an adversary complaint against 31 former employees that the
severance policy is a product of the wasteful and abusive
spending.

                      About Newark Watershed

Newark, New Jersey-based Newark Watershed Conservation and
Development Corporation filed for Chapter 11 protection (Bankr.
D.N.J. Case No. 15-10019) on Jan. 2, 2015.  The petition was signed
by Joseph M. Hartnett, interim executive director.

The Hon. Donald H. Steckroth presides over the case.  Donald W.
Clarke, Esq., and Daniel Stolz, Esq., at Wasserman, Jurista &
Stolz, P.C., represents the Debtor in its Chapter 11 case.

The Debtor disclosed total assets of $202,489 and total liabilities
of $2.07 million.



PASTA BAR BY SCOTTO: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Pasta Bar by Scotto II, LLC
          dba Va Presto
        750 8th Avenue
        Ground Floor
        New York, NY 10009

Case No.: 15-12766

Chapter 11 Petition Date: October 12, 2015

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Debtor's Counsel: Ralph E. Preite, Esq.
                  SICHENZIA ROSS FRIEDMAN FERENCE LLP
                  61 Broadway, 32nd floor
                  New York, NY 10006
                  Tel: (646) 885-6531
                  Fax: (212) 930-9725
                  Email: rpreite@srff.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by John Scotto, managing member.

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


PLASKOLITE LLC: Moody's Assigns B2 CFR, Outlook Stable
------------------------------------------------------
Moody's Investors Service assigned first-time ratings to Plaskolite
LLC, including a B2 Corporate Family Rating, B1 first lien senior
secured ratings, and Caa1 second lien senior secured rating.
Proceeds from $410 million in funded debt will be used to help fund
Plaskolite's acquisition by private equity firm Charlesbank and
members of management from the company's existing family ownership.
The rating outlook is stable.

"Plaskolite is small and highly-leveraged, but has defensible niche
market positions and should generate solid cash flow compared to
many rated peers," said Ben Nelson, Moody's Vice President and lead
analyst for Plaskolite LLC.

Actions:

Issuer: Plaskolite, LLC

  Corporate Family Rating, Assigned B2;

  Probability of Default Rating, Assigned B2-PD;
  40 million Senior Secured 1st Lien Revolving Credit Facility,
   Assigned B1, LGD3;

  305 million Senior Secured 1st Lien Term Loan B, Assigned B1,
   LGD3;

  105 million Senior Secured 2nd Lien Term Loan, Assigned Caa1,
   LGD6;

  Outlook, Assigned Stable.

RATINGS RATIONALE

The B2 CFR is constrained primarily by high financial leverage,
small size and scale relative to rated peers, exposure to
propylene-based methyl methacrylate ("MMA"), relatively modest
organic growth prospects, and longer-term risk associated with
private equity ownership.  The company has solid positions in many
of its niche markets, particularly specialty extruded acrylics,
mirrored products, and polyethylene terephthalate ("PETG"), which
supports expected EBITDA margins in the mid-to-upper teens, towards
the lower end of the spectrum for rated specialty chemical
companies.  Moody's expects that the company's modest product and
end market diversity, combined with operational flexibility
demonstrated during the last economic downturn and a meaningful
proportion of contracts with quarterly raw material adjustment
mechanisms, will support more stable financial performance compared
to many rated peers in the chemical industry.  Changes in MMA
pricing (not expected in the near-term) and competitive effects
from the company's larger and better-capitalized competitors, such
as Evonik and Arkema, could have a meaningful impact on financial
performance.

Moody's estimates interest coverage in the mid 2 times
(EBITDA/Interest) and financial leverage in the low 6 times
(Debt/EBITDA) on a pro forma basis for the twelve months ended June
30, 2015.  Moody's expects that the company will continue to gain
market share and benefit from general economic growth, while MMA
pricing will remain relatively favorable as the industry adds
capacity in Asia and propylene prices remain low.  Moody's expects
that the resultant modest improvement in financial performance will
result in leverage trending below 6 times over the next several
quarters.  The rating assumes that at a minimum the company will
generate retained cash flow of at least 8% and at least $15 million
of free cash flow in 2016, though Moody's expects actual cash flow
generation in excess of these levels. Moody's expects that most or
all of the company's free cash flow will be used for expansionary
capital investments, acquisitions, and shareholder returns.  As
such, the CFR does not incorporate any near-term expectations for
discretionary debt reduction even though management expects to make
discretionary debt repayments. Discretionary debt repayments could
favorably influence Moody's view of the company's credit profile if
expected to be sustained.

The stable outlook assumes that Plaskolite will reduce adjusted
financial leverage to well below 6 times and generate retained cash
flow of at least 8% in 2016.  Moody's could upgrade the rating with
expectations for adjusted financial leverage sustained below 5
times, retained cash flow sustained above 8%, available liquidity
sustained above $60 million, and a commitment to more conservative
financial policies.  Moody's could downgrade the rating with
expectations for leverage sustained above 6 times, retained cash
flow sustained below 5%, or a substantive deterioration in
liquidity.

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

Plaskolite LLC manufactures acrylic and other plastic products sold
into construction, retail, and other industrial end markets.
Products include consumer displays, kitchen and bath, lighting,
museum glass, signs, and windows/doors.  The company operates
manufacturing facilities in Ohio, Mississippi, Texas, California,
and Monterrey, Mexico and has a distribution center in the
Netherlands.  Headquartered in Cincinnati, Ohio, Plaskolite
generated $341 million of revenue in 2014.



PSL-NORTH AMERICA: To File Ch. 11 Plan Before Oct. 26
-----------------------------------------------------
PSL-North America LLC, et al., ask the U.S. Bankruptcy Court for
the District of Delaware to further extend their exclusive period
to file a Chapter 11 plan to Dec. 16, 2015, and their exclusive
period to solicit acceptances of such plan to Feb. 16, 2016.

According to the Debtors' counsel, Amanda R. Steele, Esq., at
Richards, Layton & Finger, P.A., in Wilmington, Delaware, since the
Bar Dates ran in the Debtors' Chapter 11 cases, the Debtors have
been in the process of evaluating the potential claims and
preparing a plan of liquidation and related disclosure statement
for what the Debtors hope to be a consensual result of these
Chapter 11 Cases.  After consulting the Court's chambers, the Court
entered an order scheduling an omnibus hearing for November 30,
2015.  To that end, the Debtors intend to file their plan and
disclosure statement, in accordance with the Local Rules, on or
before Oct. 26, 2015 so that the Court may consider the adequacy of
the disclosure statement at the Nov. 30, 2015 omnibus hearing, Ms.
Steele relates.

John H. Knight, Esq., and Paul N. Heath, Esq., at Richards, Layton
& Finger, P.A., in Wilmington, Delaware, also represent the
Debtors.

                  About PSL-North America

Founded in 2006, PSL-North America LLC is a manufacturer and coater
of large diameter steel pipes.  The company has a state-of-the-art
facility located in Bay St. Louis, Mississippi, with the land
leased for 99 years.  The company is an American-based partially
owned subsidiary of India's largest  producer and manufacturer of
steel piping, PSL Limited.

On June 16, 2014, PSL-North America LLC and PSL USA Inc., filed
voluntary petitions in Delaware (Lead Case No. 14-11477) seeking
relief under chapter 11 of the United States Bankruptcy Code.  The
Debtors' cases have been assigned to Judge Peter J. Walsh.

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

PSL-North America LL disclosed $93.3 million in assets and $204
million in liabilities as of the Chapter 11 filing.  As of
the Petition Date, the company had total outstanding debt
obligations of $130 million, according to a court filing.

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


RADIOSHACK CORP: Court Set to Hear Bid for Class Certification
--------------------------------------------------------------
A U.S. bankruptcy court is set to hear a motion to certify a class
of former RadioShack store managers who seek overtime pay from the
retailer.

The U.S. Bankruptcy Court in Delaware will take up the motion at a
hearing on Oct. 26.

In their motion, Michael Sisson and Jamie Wills, former RadioShack
store managers, alleged that the retailer "illegally denied them
and other similarly-situated store managers statutorily required
overtime pay."

The former store managers said the retailer continued to use the
so-called "fluctuating work week" method of calculating overtime
pay even after the U.S. Department of Labor issued a rule
forbidding such conduct in 2011.

The class consists of all former non-exempt managers of RadioShack
retail stores with an annual sales volume of less than $750,000 at
any time after May 5, 2011.  It does not include RadioShack workers
in Pennsylvania who were initially included in the proposed class,
court filings show.

Last month, U.S. Bankruptcy Judge Brendan Shannon denied the
request of Mark Haywood, a RadioShack creditor, to certify a class
of gift card holders.  

The bankruptcy judge also denied Mr. Haywood's bid to estimate the
claim he filed on behalf of the proposed class members and to
temporarily allow the claim for purposes of voting on the
retailer's bankruptcy plan.

Meanwhile, Judge Shannon approved last month two separate
agreements that resolved disputes tied to RadioShack's gift card
program.

The first agreement settled the retailer's dispute with the state
of Texas over how claims tied to the gift card program will be
treated.  The deal drew support from at least 25 states, according
to court filings.

A copy of the settlement agreement is available for free at
http://is.gd/rQqGiE

The other agreement required General Wireless Operations Inc. to
honor gift cards presented by customers in its store, whether or
not claims on account of those gift cards would be treated as
priority claims or general unsecured claims.

                 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 Corp. and affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 15-10197) on Feb. 5, 2015, disclosing
total assets of $1.2 billion, versus total debt of $1.3 billion.

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.

The Official Committee of Unsecured Creditors tapped Quinn Emanuel
Urquhart & Sullivan, LLP and Cooley LLP as co-counsel, and Houlihan
Lokey Capital, Inc., as financial advisor and investment banker.  

                           *     *     *

After an auction in March 2015, the Debtors sold most of the assets
to General Wireless, Inc., an entity formed by Standard General,
L.P., for $150 million.  The Debtors also sold Mexican assets to
Office Depot de Mexico, S.A. de C.V., for $31.8 million plus the
assumption of debt.  Regal Forest Holding Co. Ltd. bought the
Debtors' intellectual property assets in Latin America for a
purchase price of $5,000,000.

In June 2015, the Debtors changed their name to RS Legacy
Corporation, et al., following the sale of the Company's brand name
and customer data to General Wireless.

The bankruptcy judge on Sept. 30, 2015, agreed to confirm the
RadioShack Corp. estate's liquidating plan.  The centerpiece of The
Plan is the resolution of various disputes among the Debtors, the
Creditors' Committee and the SCP Secured Parties.


REGENT PARK: Directed to Disburse $1.3MM to PlainsCapital Bank
--------------------------------------------------------------
Judge Tony M. Davis of the United States Bankruptcy Court for
Western District of Texas, Austin Division, signed off a
stipulation lifting the automatic stay for Regent Park Capital,
LLC, to provide adequate protection to PlainsCapital Bank.

Pursuant to the Stipulation, the Debtor is ordered to disburse
$1,328,637 to the bank Bank from the Debtor's cash collateral
account, and the bank will apply those funds to the Plains Note.

Plains filed a motion to lift stay on certain collateral.  On its
Motion, Plains explained that the Debtor does not and cannot
articulate any principled reason to disburse to First State all of
funds attributable to the payoff of the First State Collateral
Loans while refusing to release to Plains any of the funds derived
from the post-petition payoff of the Plains Collateral Loans.  The
Debtor has no equity in the cash collateral, and the collateral is
not necessary to an effective reorganization, Plains asserted.

Although Plains is not convinced that any realistic prospect of
reorganization exists, the requested disbursement to Plains will
not singlehandedly kill the Debtor's Plan, Plains said.  As of
August 21, 2015, the Debtor maintains a balance of $1,657,032 in
its cash collateral account, Plains pointed out.

Regent Park Capital, LLC is represented by:

          Stephen W. Lemmon, Esq.
          Rhonda Mates, Esq.
          HUSCH BLACKWELL, LLP
          Congress Ave., Suite 1400
          Austin, TX 78701
          Tel: (512) 472-5456
          Fax: (512) 472-8008
          Email:  stephen.lemmonhuschblackwell.com
                  rhonda.mateshuschblackwell.com

PlainsCapital Bank is represented by:

          Seth E. Meisel, Esq.
          DUBOIS, BRYANT & CAMPBELL, LLP
          303 Colorado Street, Suite 2300
          Austin, TX 78701
          Tel: (512) 457-8000
          Fax: (512) 457-8008
          Email: smeisel@dbcllp.com

                          About Regent Park Capital

Formed in 1999 under the name Pokorne Private Capital Group, LLC,
Regent Park Capital, LLC, is a hard-money lender 100% owned by
Lester N. Pokorne, the sole managing member.  With only two
employees, Regent Park made loans to borrowers on a short-term
basis for the acquisition and/or development of real property in
Texas, mainly Austin, but also the Houston and Dallas areas.

Regent Park Capital filed a Chapter 11 bankruptcy petition (Bankr.
W.D. Tex. Case No. 14-11731) on Nov. 21, 2014.  The petition was
signed by Lester N. Pokorne as managing member.  The Debtor
estimated assets of $10 million to $50 million and liabilities of
$1 million to $10 million.

Husch Blackwell LLP serves as the Debtor's bankruptcy counsel.

Pursuant to an order dated Jan. 15, 2015, the Court approved
Pokorne to provide debtor-in-possession financing in the amount of
$18,000 per month through July 2015.

On June 4, 2015, the Debtor filed an emergency motion to extend the
automatic stay seeking to extend the stay under Sec. 362 and 105
and enjoin PlainsCapital from prosecuting its lawsuit against
Pokorne filed in the 419th District Court of Travis County, Texas.


The Debtor sought to extend the stay to Pokorne because he is
essential to the Debtor's reorganization efforts.  On June 16,
2015, the Court denied the Debtor's motion.


RESPONSE GENETICS: $14M Sale to Cancer Genetics Closed
------------------------------------------------------
Cancer Genetics, Inc., finalized and closed the purchase of the
assets of Response Genetics, Inc., on Oct. 9, 2015.

The purchase price was approximately $14 million, which will
include $7 million in cash and 788,584 shares of CGI common stock.

Over 90% of the additional $10-$12 million in revenue that RGI will
contribute to Cancer Genetics over the next year will be generated
by business areas related to molecular profiling, therapeutic
selection and patient monitoring in solid tumors, including lung,
colorectal and skin cancers.  The acquisition is also expected to
add $4 million to CGI in future contract value from biopharma and
clinical research clients.  CGI will continue to expand the
biopharma operations at RGI, which include strong historical
relationships with major biopharma and pharmaceutical firms.
Cancer Genetics will also continue to grow the clinical services
that RGI's Los Angeles-based laboratory provides to hundreds of
medical care facilities and professionals across the country.  To
facilitate the transition and help develop future expansion plans,
RGI's Vice President of Operations, Alan Cheeks, will join the CGI
management team and will be responsible for the day-to-day clinical
and biopharma operations and delivery.

"The Response Genetics team is excited to become a part of the CGI
family, to continue to expand our oncology-focused molecular
diagnostic services and the delivery of information to improve
patient insights and outcomes," said Alan Cheeks, Vice President of
Operations.  "The combined company will provide global resources
and expertise that uniquely positions CGI in the marketplace.  As
we move forward to develop a center of excellence in solid tumors
on the West Coast, I'm certain we will see growth in our market
share.  CGI will benefit from increased demand and complexity in
clinical trials and from our well positioned offering for the
clinical oncology community."

In addition to the integration of RGI facilities, a majority of the
RGI staff, including a highly trained and nationally distributed
sales force, will be brought into CGI's existing structure.  CGI
will integrate over 20 of RGI's clinically-focused sales
professionals across the U.S., offering both a state-of-the-art
molecular hematological portfolio along with a clinically
actionable and validated portfolio of tests for solid tumors.  The
tests include a variety of methodologies–from IHC and FISH to
gene-expression, microarrays as well as next-generation sequencing
(NGS).  The clinical operations will report to Alan Cheeks and Dr.
Gary D. Zeger, the Medical Director of the Los Angeles facility.
Mr. Cheeks will also be a part of the leadership team at CGI and
will assume responsibility for helping to develop the center of
excellence focused on solid tumor genomics and molecular profiling
for clinical and biopharma customers.

"We look forward to a seamless integration of the Response Genetics
team and facilities," said Panna Sharma, President and CEO of
Cancer Genetics.  "Throughout the closing process, we've put a
special focus on aligning our vision and operations to ensure that
we will capture the synergies that exist between both companies.
In addition to expanding our capabilities to include expertise in
both solid and hematological cancers, we will also grow our
national footprint significantly.  Lastly, we will provide more
actionable and relevant genetic information in formats that
clinicians demand today.  As a result of the integration, Response
and CGI will offer the most complete bench to bedside oncology
diagnostics in the marketplace with a unique portfolio of
innovative clinical tests such as the Tissue of Origin test which
will be a cornerstone of our suite of nine unique genomic tests and
panels that are being offered today."

                      About Cancer Genetics

Cancer Genetics Inc. is an emerging leader in DNA-based cancer
diagnostics.  The Company's tests target difficult to diagnose
hematological, urogenital and HPV-associated cancers.  It also
offers a comprehensive range of oncology-focused tests and
laboratory services that provide critical genomic information to
healthcare professionals and biopharmaceutical companies.

                    About Response Genetics

Los Angeles, California-based Response Genetics, Inc. (otcqb:RGDX)
-- http://www.responsegenetics.com-- is a CLIA-certified clinical

laboratory focused on the development and sale of molecular
diagnostic testing services for cancer.  The Company's technologies
enable extraction and analysis of genetic information derived from
tumor cells stored as formalin-fixed and paraffin-embedded
specimens.  The Company's principal customers include oncologists
and pathologists.  In addition to diagnostic testing services, the
Company generates revenue from the sale of its proprietary
analytical pharmacogenomic testing services of clinical trial
specimens to the pharmaceutical industry.  

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

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

No request has been made for the appointment of a trustee or an
examiner in the cases, and no official committee has yet been
appointed by the Office of the U.S. Trustee.

                           *     *     *

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

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


ROBSTOWN, TX: Fitch Cuts 2003 GO Bonds Rating to 'BB+'
------------------------------------------------------
Fitch Ratings downgrades the following Robstown, Texas (the city)
limited tax bonds:

-- $390,000 limited tax general obligation (LTGO) refunding
    bonds, series 2003 to 'BB+' from 'BBB';

-- $905,000 combination tax and limited pledge revenue
    certificates of obligation (COs), series 2003 to 'BB+' from
    'BBB'.

The Rating Outlook is Stable.

SECURITY

The GO and COs are secured by an annual property tax levy limited
to $2.50 per $100 taxable assessed valuation (TAV). The COs are
additionally secured by a de minimis pledge of net revenues of the
city's utility system.

KEY RATING DRIVERS

RECENT SIGNIFICANT FINANCIAL DECLINE: The downgrade reflects recent
significant and unexpected fiscal deterioration, with reserves
essentially depleted in fiscal 2014 and expected fiscal 2015
deficit operations leading to a negative general fund ending
balance.

ADDITIONAL NEAR TERM PRESSURE: Current projections call for
continued financial strain in the near term, including the fiscal
2016 budget indicating a smaller, but still negative general fund
ending balance. Financial control and reporting weaknesses increase
the potential for worse than projected operating results.

FINANCIAL CONTROL CONCERNS: City finances have been challenged by
weakness in the city's internal controls, which resulted in a
partial missed interest payment in 2012. Management has taken some
steps to improve accounting practices, but internal controls
deficiencies continue to be cited in the city's audit and have
contributed to recent financial stress.

SALES TAX VOLATILITY: The general fund relies on economically
volatile sales taxes for operations, and prior years' receipts
featured notable fluctuations. Fiscal 2014 finances were weakened
by sales tax revenues that declined more sharply than expected,
reflecting a stronger than anticipated negative impact from oil
price declines.

LIMITED ECONOMIC BASE: The local economy is limited, with a
concentration in the cyclical oil and gas sector. Income and wealth
levels are below average.

HIGH DEBT BURDEN: City debt levels are high, particularly relative
to the tax base. Debt levels should remain high, as amortization is
average, though no additional debt issuance is currently planned.

RATING SENSITIVITIES

FURTHER FINANCIAL DETERIORATION; INADEQUATE RESPONSE TO DEFICIT:
Further, significant financial deterioration, including a larger
than expected fiscal 2015 deficit and significantly weakened
liquidity will lead to further downward pressure on the rating.
Failure to address budget imbalance and return to a positive
general fund ending balance in a timely manner would also result in
downward rating pressure.

CONTINUED INTERNAL CONTROL PROBLEMS: An inability to implement
fiscal controls, leading to improvement in financial operations and
reporting, could also have a negative impact on the rating.

INCREASED DEBT BURDEN: A significant increase to the city's already
high debt burden could also lead to downward pressure on the
rating.

CREDIT PROFILE

Robstown is located in Nueces County, about 15 miles northwest of
downtown Corpus Christi. The 2014 population of 11,657 represents a
decline of about 8% since 2000, although recent years' population
figures have remained essentially flat.

RECENT SIGNIFICANT DECLINE IN FINANCES

Following a trend of financial stabilization (including operating
surpluses in fiscal years 2012 and 2013), fiscal 2014 saw a sharp
decline, with a general fund deficit of $713,826 (7.5% of spending)
resulting in a reduction in the unrestricted balance to $6,221
(about 0.1% of spending) from $720,047 (8.3%) in fiscal 2013. The
fiscal 2014 amended budget had suggested balanced operations, with
general fund revenue growth of about 9% projected.

Estimates at the end of the fiscal year still indicated positive
operations and a modest surplus, evidence of the city's challenged
financial controls and reporting. Revenue projections were not
adequately updated to reflect much weaker than expected actual
revenue performance, driven by larger than budgeted sales tax
declines and smaller than budgeted property tax increases. Fiscal
2014 general fund revenues declined by nearly 2% and despite lower
than budgeted spending, the year ended with a deficit.

The city is moderately reliant on economically volatile sales
taxes, which made up 31% of general fund revenues in fiscal 2014.
This revenue stream performed well in recent years due to economic
activity from energy exploration in the area, but dipped sharply
when oil prices collapsed in 2014. Fiscal 2014 sales tax revenues
were budgeted to decrease by about 6%, but actual performance was
worse (down 15%), reflecting a larger than expected impact from the
oil price decline.

Property taxes make up about 20% of general fund revenues. While
overall general fund property tax revenues grew in fiscal 2014 (up
1.1%), actual collections were more than 18% below the amended
budget figure. Management attributes the shortfall to a combination
of budget misstatements and weaker actual collections.

Fitch views a healthy fund balance as a necessary mitigant to the
city's small overall budget size and exposure to economically
sensitive sales taxes, a portion of which are derived from cyclical
oil and gas activities. The recent depletion of reserves and
uncertainty regarding replenishment significantly weaken the city's
credit profile.

CONTINUED FINANCIAL WEAKNESS

Management currently projects a fiscal 2015 general fund deficit of
about $1.3 million, which would result in a negative general fund
ending balance of about $1.3 million or -12.7% of spending. Fiscal
2015 estimates include flat revenues (0.6% decline versus fiscal
2014 actual revenues) and about 5% expenditure growth, driven in
part by debt service needs due to the impact of fiscal 2014 debt
issuance payments. Fiscal 2015 general fund spending included about
$700,000 for debt service, which is expected to be covered by an
increase in the debt service property tax rate in fiscal 2016.

The current fiscal 2016 budget is balanced, aided by an annual
transfer from the city's utility funds of about $960,000. A
recently approved additional utility transfer of about $700,000 is
expected to reduce the general fund ending deficit balance to about
$331,000 or -3.7% of spending

Management has indicated that additional revenue and/or expenditure
measures are being considered to further shore up operations. The
fiscal 2016 budget assumes a 10.4% decline in expenditures, driven
largely by reduced public works spending and cuts in administrative
costs.

DEFICIENCIES IN FINANCIAL REPORTING PRACTICES

Recent annual audits featured unqualified opinions. However, the
city's auditor has cited several deficiencies regarding internal
controls. The city pointed to these deficiencies as the cause of a
12-day delay in a small portion of the Sept. 1, 2012 interest
payment (less than 5% of the total $165,384 payment).

Despite new procedures to address the internal control concerns,
these deficiencies were again cited in the city's fiscal 2014 audit
and certainly have contributed to the ongoing financial stress.
Management has indicated that additional efforts are being made to
improve financial controls and reporting.

INCREASED RELIANCE ON UTILITY SYSTEM REVENUES

The city's combined electric, water, and gas utility system
supports general city operations through annual transfers. The
transfer totaled $785,000 in fiscal 2014 or 8% of general fund
revenues. The transfer totaled $725,000 for fiscal 2015, with
another $120,000 added for budget stabilization. The standard
transfer is budgeted at about $960,000 for fiscal 2016, plus the
additional for budget stabilization that was recently approved.

The standard monthly transfers were initiated to support the fiscal
health of the city and are annually appropriated in the system's
budget. The transfers are made per a memorandum of understanding
(MOU) between the city and the system that expired in 2013. The
city reports that it is working on a renewal of the MOU.

The system demonstrates adequate capacity for continued general
fund assistance due to its limited debt obligations and positive
operating margins that produced over $2 million in net revenues
after debt service and city transfers, in fiscal 2014. Continued
utility fund support of the general fund, beyond an amount
commensurate with administrative costs and/or a payment in lieu of
taxes or franchise fee, is an ongoing credit concern.

LIQUIDITY SUPPORTED BY UTILITY FUND

The city does not currently produce annual cash flow estimates.
General fund liquidity levels have been low in recent years, and
management initially projected a potential need to borrow about
$250,000 for cash flow needs in fiscal 2016. The recently approved
additional transfer from the utility system eliminated this need.
Should cash flow needs arise later in the year, management has
indicated that borrowing would be from utility system available
revenues.

HIGH DEBT BURDEN; INCREASING BUT MANAGEABLE OVERALL CARRYING COSTS

The city's overall debt levels are high on a per capita basis
($5,785 for fiscal 2014) and extremely high as a percentage of
market value (15.5%). Debt levels should remain high as
amortization is average (about 50% in 10 years). No additional
near-term debt issuance is planned. The city's annual debt service
as percentage of governmental spending is midrange, at about 8% in
fiscal 2014, but will increase significantly in fiscal 2015
(estimated at 15%) reflecting the impact of 2014 sales tax, CO and
GO borrowings.

The city's pension plan is provided through the Texas Municipal
Retirement System and was 88% funded as of Dec. 31, 2013. Other
post-employment benefits are limited to supplemental death benefits
totaling one year of salary. Total carrying costs for debt service
and pensions were manageable at about 11% of governmental fund
spending in fiscal 2014. Increased debt service levels in fiscal
2015 will increase total carrying costs, but the level is expected
to remain manageable, estimated at 18% for fiscal 2015.

ECONOMIC CONCENTRATION

Robstown's local economy is limited, with a concentration in the
energy sector. The city benefits from its location at the
intersection of two major gulf coast surface, port, and rail
corridors. While the economy has benefited from the drilling
activity in the Eagle Ford shale, a large oil and gas shale
formation that reaches just north of the city, recent declines in
oil prices have negatively affected the industry in the area and,
as a result, city tax revenues.

City employment figures are unavailable. The Nueces County July
2015 4.9% unemployment rate represents a decline from 5.4% a year
prior, and is close to the comparable state rate (4.6%) and below
the comparable national (5.6%) average. City income and wealth
indicators are well below average, and the city's poverty rate is
about double the U.S. average.

The city's tax base has seen recent continued expansion, with
annual TAV growth averaging about 9% for fiscal years 2014 through
2016. Some of this growth was likely driven by inherently cyclical
oil and gas activity, which could moderate with continued sector
weakness. The city is seeing some additional economic development
activity, including the construction of an 83-store outlet mall
expected to be completed by 2016.



SHOWBOAT ATLANTIC: Stockton Univ. Has Sunk Nearly $8-Mil. in Casino
-------------------------------------------------------------------
The Associated Press reported that records show Stockton University
has spent nearly $8 million on the now-closed Showboat Casino since
the school purchased the Atlantic City property last December.

The AP reported Stockton will be approximately $2 million short of
its $26 million investment in the bankrupt casino if the agreement
to sell the site for $22 million to Philadelphia developer Bart
Blatstein goes through in November.


SIGA TECHNOLOGIES: PricewaterhouseCoopers Approved as Auditor
-------------------------------------------------------------
The Hon. Sean H. Lane of the U.S. Bankruptcy Court for the Southern
District of New York authorized Siga Technologies, Inc., to expand
the scope of the employment of PricewaterhouseCoopers LLP as
auditor effective as of March 1, 2015.

The Court approved the supplemental application that provided that
PwC will, among other things:

   (a) audit the consolidated financial statements of the Debtor at
Dec. 31, 2015, and for the year then ending, auditing the
effectiveness of the Debtor's internal control over financial
reporting as of Dec. 31, 2015, and providing the Debtor with an
integrated audit report related to the financial statements;

   (b) communicate with the audit committee and management about
any matters that PwC believes may require material modifications to
the quarterly financial information to make it conform with
accounting principles generally accepted in the United States; and

   (c) examine evidence supporting the amounts and disclosures in
the financial statements, assessing accounting principles used and
significant estimates made by management, and evaluating the
overall financial statement presentation.

PwC will be compensated in accordance with, and will file, interim
and final fee applications for the allowance of compensation and
expenses and will be subject to Sections 330 and 331 of the
Bankruptcy Code, the Bankruptcy Rules, the Local Rules, the Fee
Guidelines, and any further order of the Court.  PwC will be
reimbursed for reasonable and necessary expenses.

Hourly rates, subject to periodic adjustments, that PwC
professionals will charge for the incremental services are as
follows:

                             Engagement Team     Specialist Hourly
Staff Class                 Hourly Billing Rate   Billing Rate
-----------                 ------------------- -----------------
Partner                       $650 to $775        $896 to $957
Managing Director/Director    $500 to $600        $668 to $767
Senior Manager                 N/A                $668 to $694
Manager                       $350 to $410        $519 to $545
Senior Associate              $230 to $275        $420 to $440
Associate                     $150 to $185        $357 to $365

To the best of the Debtor's knowledge, PwC represents no interest
adverse to the Debtor's estate with respect to the matters upon
which it is to be engaged.

                      About SIGA Technologies

Publicly held SIGA Technologies, Inc., with headquarters in
Madison Avenue, New York, is a biotech/pharmaceutical company that
specializes in the development and commercialization of solutions
for serious unmet medical needs and biothreats.  SIGA's lead
product is Tecovirimat, also known as ST-246, an orally
administered antiviral drug that targets orthopoxviruses.

SIGA sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case
No. 14-12623) on Sept. 16, 2014, in Manhattan.  The case is
assigned to Judge Sean H. Lane.

The Debtor has tapped Weil, Gotshal & Manges LLP, as counsel, and
Prime Clerk LLC as claims agent.

The Debtor's Chapter 11 plan and disclosure statement are due
May 14, 2015.

The Debtor disclosed total assets of $131,669,746 and $7,954,645
in liabilities as of the Chapter 11 filing.

The Statutory Creditors' Committee is represented by Martin J.
Bienenstock, Esq., Scott K. Rutsky, Esq., and Ehud Barak, Esq., at
Proskauer Rose LLP.  The Committee tapped to retain Guggenheim
Securities, LLC, as its financial advisor and investment banker


STAR COMPUTER: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Star Computer Group, Inc.
        2175 NW 115 Avenue
        Miami, FL 33172

Case No.: 15-28100

Nature of Business: Supplier of computers, smart phones, and
                    related equipment and software to dealers and
                    wholesalers in Latin America.

Chapter 11 Petition Date: October 12, 2015

Court: United States Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Hon. Jay Cristol

Debtor's Counsel: Vincent F Alexander, Esq.
                  KOZYAK TROPIN & THROCKMORTON, LLP
                  2525 Ponce De Leon Blvd
                  Miami, FL 33134
                  Tel: (305) 377-0659
                  Fax: (305) 372-3508
                  Email: vfa@kttlaw.com

                    - and -

                  Corali Lopez-Castro, Esq.
                  KOZYAK TROPIN & THROCKMORTON, LLP
                  2525 Ponce de Leon 9 Fl
                  Coral Gables, FL 33134
                  Tel: (305) 347-1774
                  Email: clc@kttlaw.com

                    - and -

                  David L Rosendorf, Esq.
                  KOZYAK TROPIN & THROCKMORTON, LLP
                  2525 Ponce de Leon Blvd 9 Fl
                  Coral Gables, FL 33134
                  Tel: (305) 372-1800
                  Email: dlr@kttlaw.com

Debtors'          GLASSRATNER ADVISORY & CAPITAL GROUP LLC
Financial
Advisor:

Total Assets: $22.7 million

Total Liabilities: $68.3 million

The petition was signed by James S. Howard, chief restructuring
officer.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Abboud Trading ATC                    Trade Debt      $2,437,446
10910 NW 92nd Terrace
Miami, FL 33178

Acer America Corp                     Trade Debt        $310,305
3750 NW 87 Ave Suite 640
Miami, FL 33178

Asus Global PTE. Limited              Trade Debt        $662,306
15A Changi Business Park
Central 1
Singapore 486035

and

Atradius
c/o Patricia Redmond, Esq.
Stearns Weaver Miller et al.
150 W. Flagler St., Suite 2200
Miami, FL 33130

Bramid Limited                        Trade Debt      $9,999,997
10910 NW 92 Terrace
Miami, FL 33174

Curve Commercial Services LLC         Trade Debt        $319,822
360 Red Rd Suite 309
Miramar, FL 33025

Dell Computer                         Trade Debt       $4,233,067
One Dell Way
Round Rock, TX 78682

Envision Peripherals                  Trade Debt         $158,022
47490 Seabridge Drive
Fremont, CA 94538

General Procurement, Inc.             Trade Debt         $414,238
2335 NW 107 Ave
Miami, FL 33172

Infotel Distributors                  Trade Debt         $146,604

Ingram Micro                          Trade Debt       $2,487,156
3351 Michelson Drive
Suite 100
Irvine, CA 92612

LG Electronics Miami Inc.             Trade Debt         $566,945
8333 NW 53rd St.
Doral, FL 33166

Logitech                               Trade Debt        $409,129
1376 Collection Center Dr.
Chicago, IL 60693

and

Atradius
c/o Patricia Redmond, Esq.
Stearns Weaver Miller et al.
150 W. Flagler St., Suite 2200
Miami, FL 33130

Luis Contreras                            Other         $1,860,507
Calle Bernardette con Av.
Principal
de Los Ruices, Edif Ponds
Los Cortijos de Lourdes,
Edo Miranda
Caracas, Venezuala

MA Labs                                  Trade Debt       $149,625

Procurepal LLC                           Trade Debt     $1,368,726
12555 Orange Dr.
Davie, FL 33330

and

Atradius
c/o Patricia Redmond, Esq.
Stearns Weaver Miller et al.
150 W. Flagler St., Suite 2200
Miami, FL 33130

Samsung Electronics                      Trade Debt     $9,369,815
Latinoamerica (Zona
Torre de Las Americas Torre
C Piso 23
PO 0833-0042
Panama City, Panama

Samsung Electronics                      Trade Debt    $11,874,650
Latinoamerica Miami
9850 NW 41st St., Suite 350
Doral, FL 33178

and

Atradius
c/o Patricia Redmond, Esq.
Stearns Weaver Miller et al.
150 W. Flagler St., Suite 2200
Miami, FL 33130

Strade LLC                              Trade Debt     $1,000,990
1450 Brickell Ave, Suite 2660
Miami, FL 33131

Techdata Corporation                    Trade Debt     $1,600,064
2200 NW 112 Ave
Miami, FL 33172

Toshiba America                         Trade Debt       $822,966
Information Systems Inc.
91865 Collections Center Dr.
Chicago, IL 60693


STAR COMPUTER: Files for Chapter 11 to Sell Remaining Assets
------------------------------------------------------------
Star Computer Group, Inc. sought Chapter 11 bankruptcy protection
disclosing assets of $22.7 million and liabilities of $68.3
million.

The Company filed the petition in Florida bankruptcy court with the
goal of selling its remaining assets, continuing to collect its
accounts receivable, and using the proceeds to implement a
liquidating Chapter 11 plan.

Founded in 1994 with its office located at 2175 N.W. 115 Avenue,
Miami, FL 33172, the Company was engaged in the business of
supplying wholesale computers, smart phones, and related equipment
and software to dealers and wholesales in Latin America.  The
Company is jointly owned by Henry Waissmann (54%) and Henry Aguilar
(46%).

James S. Howard, chief restructuring officer of Star Computer, said
in a declaration filed with the Court that the Company is under an
agreement with BankUnited, National Association, its  largest
secured creditor, pursuant to which BankUnited agreed to forbear
from exercising certain rights and remedies with respect to alleged
defaults -- which the Company disputed -- under a prepetition loan
agreement.  Court document indicates that as of the Petition Date,
the Company owes BankUnited $11.67 million.

The Company also named Mercantile Bank and the Small Business
Administration as secured creditors holding claims of $3.01 million
and $2.28 million, respectively.  The condo association for the
Real Property holds a lien on the Real Property for unpaid fees of
approximately $29,500, the Company disclosed.

The Debtor listed unsecured claims totaling $58.7 million.

Mr. Howard said the Company has been selling its inventory,
collecting its outstanding accounts receivable and marketing its
Real Property in an effort to maximize the cash available to retire
its obligations.  He added the Company received expressions of
interest to buy its Real Property in the approximate amount of $7.5
million, although no firm offers have been made.

The Debtor believes the cash generated from the sale of the Real
Property is not subject to BankUnited's Security Agreement and,
therefore, would be available for the payment of administrative
expenses and distribution to unsecured creditors.

Court filings indicated that BankUnited agreed to fund certain of
the Debtor's critical operating expenses such as payroll,
utilities, professional fees, and expenses related to the shipment
of goods sold from funds constituting its and consented to the
Debtor's use of cash collateral on a post-petition basis.

Concurrently with the filing of the Chapter 11 case, the Company
filed several first day motions.  A copy of the declaration in
support of the First Day Motions is available for free at:

          http://bankrupt.com/misc/8_STAR_Declaration.pdf

                        About Star Computer

Star Computer Group, Inc., sought Chapter 11 bankruptcy protection
(Bankr. S.D. Fla. Case No. 15-28100) on Oct. 12, 2015.  The
petition was signed by James S. Howard as chief restructuring
officer.

The Debtor has engaged Kozyak, Tropin & Throckmorton, P.A., as
bankruptcy counsel, GlassRatner as financial advisor, Fuerst
Ittleman David & Joseph PL as special tax counsel, and Cherry
Bekaert, LLP as accountants.

Judge Jay Cristol is assigned to the case.


STAR COMPUTER: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Star Computer Group, Inc., filed with the Bankruptcy Court its
schedules of assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                $7,000,000
  B. Personal Property           $15,724,810
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $16,921,487
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $51,356,039
                                 -----------      -----------
        TOTAL                    $22,724,810      $68,277,526

A copy of the Schedules is available for free at:

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

                        About Star Computer

Star Computer Group, Inc., sought Chapter 11 bankruptcy protection
(Bankr. S.D. Fla. Case No. 15-28100) on Oct. 12, 2015.  The
petition was signed by James S. Howard as chief restructuring
officer.

The Debtor listed assets of $22.7 million and liabilities of $68.3
million.

Founded in 1994 with its office located at 2175 N.W. 115 Avenue,
Miami, FL 33172, the Company was engaged in the business of
supplying wholesale computers, smart phones, and related equipment
and software to dealers and wholesales in Latin America.  The
Company is jointly owned by Henry Waissmann (54%) and Henry Aguilar
(46%).

The Debtor has engaged Kozyak, Tropin & Throckmorton, P.A., as
bankruptcy counsel, GlassRatner as financial advisor, Fuerst
Ittleman David & Joseph PL as special tax counsel, and Cherry
Bekaert, LLP as accountants.

Judge Jay Cristol is assigned to the case.


STAR COMPUTER: Hires Kozyak Tropin as Bankruptcy Counsel
--------------------------------------------------------
Star Computer Group, Inc., seeks permission from the Bankruptcy
Court to employ Kozyak Tropin & Throckmorton, LLP as its bankruptcy
counsel, nunc pro tunc to the Petition Date.

KT&T is expected to:

   (a) give advice to the Debtor with respect to its powers and
       duties as debtors-in-possession and the continued
       management of its business operations;

   (b) advise the Debtor with respect to its responsibilities in
       complying with the U.S. Trustee's Operating Guidelines and  

       Reporting Requirements and with the rules of the Court;

   (c) prepare motions, pleadings, orders, applications, adversary
       proceedings, and other legal documents necessary in the
       administration of the case;

   (d) protect the interest of the Debtor in all matters pending
       before the Court; and

   (e) represent the Debtor in negotiations with its creditors in
       the preparation and confirmation of a plan.
The current hourly rates for the attorneys at KT&T range from $250
to $600.  Mr. Corali Lopez-Castro will be principally responsible
for KT&T's representation of the Debtor, and his hourly rate is
$495.  The current hourly rate for the associate attorneys who will
work on this case are from $325 to $350 per hour.  The current
hourly rates for the legal assistance and paralegals at KT&T is
$225.

The Debtor has agreed to reimburse KT&T for its expenses.

On May 26, 2015, KT&T received a pre-petition retainer from the
Debtor in the amount of $25,000.  On Sept. 18, 2015, KT&T received
an additional retainer from the Debtor in the amount $100,000.
KT&T holds the remaining retainer funds of $87,359 as security for
the fees and costs that may be awarded to it by the Court in this
case.

To the best of the Debtor's knowledge, neither Corali Lopez-Castro
nor KT&T has any connection with the creditors or other
parties-in-interest or their respective attorneys except as set
forth in the Lopez-Castro Declaration.  Neither Corali Lopez-Castro
nor KT&T represent any interest adverse to the Debtor.  Thus, the
Debtor believes that Corali Lopez-Castro and KT&T are disinterested
as required by Section 327(a) of the Bankruptcy Code and Bankruptcy
Rule 2014.

                        About Star Computer

Star Computer Group, Inc., sought Chapter 11 bankruptcy protection
(Bankr. S.D. Fla. Case No. 15-28100) on Oct. 12, 2015.  The
petition was signed by James S. Howard as chief restructuring
officer.

The Debtor listed assets of $22.7 million and liabilities of $68.3
million.

Founded in 1994 with its office located at 2175 N.W. 115 Avenue,
Miami, FL 33172, the Company was engaged in the business of
supplying wholesale computers, smart phones, and related equipment
and software to dealers and wholesales in Latin America.  The
Company is jointly owned by Henry Waissmann (54%) and Henry Aguilar
(46%).

The Debtor has engaged Kozyak, Tropin & Throckmorton, P.A., as
bankruptcy counsel, GlassRatner as financial advisor, Fuerst
Ittleman David & Joseph PL as special tax counsel, and Cherry
Bekaert, LLP as accountants.

Judge Jay Cristol is assigned to the case.


STAR COMPUTER: Seeks to Employ GlassRatner as Financial Advisor
---------------------------------------------------------------
Star Computer Group, Inc., is asking permission from the Bankruptcy
Court to employ GlassRatner Advisory & Capital Group LLC as its
financial advisor and James S. Howard to serve as chief
restructuring officer.

The Debtor said it intends to pursue the wind down of its affairs
in order to fund distributions to creditors through a Chapter 11
plan.  The Debtor believes that is necessary to have professionals
with the requisite accounting, financial and managerial experience
in order to maximize the outcome of this case for creditors.  To
that end, the Debtor believes that Mr. Howard and GlassRatner are
eminently qualified to advise it with regard to its obligations.

The Debtor initially engaged GlassRatner as its financial advisor
on May 14, 2015.  On Sept. 11, 2015, Mr. Howard was further engaged
by the Debtor as its chief restructuring officer.

To the Debtor's knowledge, Mr. Howard and GlassRatner are
"disinterested" persons within the meaning of the Bankruptcy Code.

The Debtor related it has been informed that Mr. Howard and
GlassRatner will conduct an ongoing review of their files to ensure
that no disqualifying circumstances arise, and if any new relevant
facts or relationships are discovered, they will promptly
supplement this disclosure to the Court.

The standard hourly rates for the professionals expected to be
involved in this case are:

    Professional                  Role          Hourly Rate
    ------------             -------------      -----------
    Jim Howard                   CRO               $425
    Jason Cristal, CIRA       Interim CFO          $350
    Other Staff                As Needed        $195-$350

GlassRatner will be reimbursed by the Company for the reasonable
out-of-pocket expenses.

The Company has agreed to indemnity and hold harmless GlassRatner
against, among other things, all and any losses, claims, damages,
liabilities, and penalties, except from losses and claims that
resulted from gross negligence or willful misconduct.

                        About Star Computer

Star Computer Group, Inc., sought Chapter 11 bankruptcy protection
(Bankr. S.D. Fla. Case No. 15-28100) on Oct. 12, 2015.  The
petition was signed by James S. Howard as chief restructuring
officer.

The Debtor listed assets of $22.7 million and liabilities of $68.3
million.

Founded in 1994 with its office located at 2175 N.W. 115 Avenue,
Miami, FL 33172, the Company was engaged in the business of
supplying wholesale computers, smart phones, and related equipment
and software to dealers and wholesales in Latin America.  The
Company is jointly owned by Henry Waissmann (54%) and Henry Aguilar
(46%).

The Debtor has engaged Kozyak, Tropin & Throckmorton, P.A., as
bankruptcy counsel, GlassRatner as financial advisor, Fuerst
Ittleman David & Joseph PL as special tax counsel, and Cherry
Bekaert, LLP as accountants.

Judge Jay Cristol is assigned to the case.


SVS HOLDINGS: Dist. Court Clarifies Bankr. Court Authority
----------------------------------------------------------
In the adversary proceeding, TOM H. CONNOLLY, Chapter 7 Trustee,
Plaintiff, v. SEQUOIA VOTING SYSTEMS, INC., DOMINION VOTING SYSTEMS
CORPORATION and DOMINION VOTING SYSTEMS, INC., Defendants, CIVIL
ACTION NO. 13-CV-00169-REB, BANKRUPTCY CASE NO. 10-24238-HRT
(CHAPTER 7), ADVERSARY PROCEEDING NO. 12-01757-HRT (D. Colo.),
District Judge Robert E. Blackburn granted a Joint Motion for
Clarification of the Bankruptcy Court's Authority to Enter an Order
Confirming a Proposed Chapter 11 Plan Which Includes Substantive
Consolidation of the Bankruptcy Estates of SVS Holdings, Inc., and
Sequoia Voting Systems, Inc.

The District Court ruled that:

     1. the parties to an adversary proceeding and the District
court recognize the authority and jurisdiction of the bankruptcy
court to confirm a plan of reorganization and to include the merger
or consolidation of the debtor in that plan of reorganization;

     2. if the bankruptcy court confirms a plan of reorganization
which includes substantive consolidation of SVS and Sequoia, this
court will treat such an order as proposed findings of fact and
conclusions of law with regard to the issue of substantive
consolidation in this adversary proceeding; and

     3. if the bankruptcy court confirms a plan of reorganization
which includes substantive consolidation of SVS and Sequoia, the
deadline for filing objections to that order for purposes of this
adversary proceeding, as specified in D.C.COLO.LCivR 84.1(e), shall
run from the date the order of confirmation is filed in this
adversary proceeding.

The complaint that is the foundation of the adversary proceeding
was filed by the Chapter 7 Trustee on behalf of the Chapter 7
bankruptcy estate of debtor SVS Holdings, Inc.  The trustee alleges
that the management of defendant Sequoia Voting Systems created the
debtor corporation, SVS Holdings, for the purpose of acquiring the
equity interests in Sequoia from Smartmatic Corporation. The
trustee alleges that SVS acquired all of the issued and outstanding
stock of Sequoia, that SVS is the sole shareholder of Sequoia, and
that SVS was created, owned, controlled, and completely dominated
by the management of Sequoia.  The trustee alleges that SVS and
Sequoia are alter-egos of each other.

The trustee asserts claims against Sequoia as well as Dominion
Voting Systems Corporation and Dominion Voting Systems, Inc.  The
trustee asserts a claim for substantive consolidation of the
debtor, SVS, and Sequoia.

In addition, the trustee asserts claims seeking to avoid transfers
in 2009 and 2011 among Sequoia and the two Dominion defendants,
Dominion Voting Systems Corporation and Dominion Voting Systems,
Inc.  The claims allege fraudulent transfers under sections 544 and
548 of the Bankruptcy Code and under state uniform fraudulent
transfer acts.

Dominion demands a jury trial, and, based on that demand, the
District court entered an order withdrawing the reference of the
adversary proceeding to the bankruptcy court and referring this
case to the bankruptcy court for resolution of pretrial issues.

Sequoia filed a Chapter 11 bankruptcy petition in 2014. Pending in
the bankruptcy court is a proposed plan of reorganization which
would involve the substantive consolidation of SVS and Sequoia.

A copy of the Court's September 23, 2015 Order is available at
http://is.gd/9equQGfrom Leagle.com.


SWJ HOLDINGS: Order Converting Case to Ch. 7 Affirmed
-----------------------------------------------------
Judge Michael P. Shea of the United States District Court for the
District of Connecticut, having found no abuse of discretion,
affirmed the bankruptcy court's order granting a creditor's motion
to convert SWJ Management, LLC's Chapter 11 case to one under
Chapter 7.

Judge Shea found no basis in the record to suggest that Judge Alan
H.W. Shiff of the U.S. Bankruptcy Court for the District of
Connecticut was biased or to question the validity of his order
converting this bankruptcy case to chapter 7.

The case is captioned SWJ Management, LLC, Appellant, v. Richard M.
Coan, Trustee, Appellee, No.3:14-CV-01860 (MPS)(D. Conn.).

A full-text copy of Judge Shea's opinion and order dated September
16, 2015 is available at http://is.gd/gW6DWafrom Leagle.com

SWJ Management, LLC, In Re, represented by Alexander H. Schwartz.

SWJ Management, LLC, Appellant, represented by:

         Lamya A. Forghany, Esq.
         FORGHANY & ASSOCIATES
         1 Canal Street, Suite 201
         Lawrence, MA 01840
         Phone: 978-258-0384
         Fax: 978-824-2031

            -- and --

         Alexander H. Schwartz, Esq.
         2425 Post Road Suite 205
         Southport, CT 06890
         Phone: 203-307-053

US Trustee, Notice, represented by US Trustee, U.S. Trustee Office

Richard M. Coan, Appellee, represented by:

         Timothy D. Miltenberger, Esq.
         COAN, LEWENDON, GULLIVER & MILTENBERGER
         495 Orange Street
         New Haven, CT 06511
         Phone: 203-901-1298
         Fax: 203-865-3673

Kara S. Rescia, Appellee, Pro Se.

U.S. Trustee, Appellee, represented by Holley Longshore Claiborn,
Office of the U.S. Trustee.

               About SWJ Holdings and SWJ Management

SWJ Holdings, LLC, filed a Chapter 11 bankruptcy petition, Case
No. 14-10376, on Feb. 25, 2014, in the U.S. Bankruptcy Court for
the District of Delaware, estimating $10 million to $50 million in
assets and less than $10 million in liabilities.  On March 3,
2014, related entity SWJ Management, LLC, followed and filed for
Chapter 11 protection, Case No. 14-10460, also in Delaware,
estimating $10 million to $50 million in assets and $1 million
to $10 million in liabilities.

The Debtors' cases have since been transferred to the U.S.
Bankruptcy Court for the District of Connecticut.

Bruce Duke, Esq., in Mount Laurel, New Jersey, serves as counsel
to the Debtors.

The petitions were signed by Richard Annunziata as managing
member.


TAYLOR-WHARTON INT'L: Oct. 16 Meeting Set to Form Creditors' Panel
------------------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, will hold an
organizational meeting on Oct. 16, 2015, at 10:00 a.m. in the
bankruptcy case of Taylor-Wharton International LLC, et al.

The meeting will be held at:

         J. Caleb Boggs Federal Building
         844 King St., Room 5209
         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.



TAYLOR-WHARTON: Plans Auction for CryoScience Biz. on Nov. 11
-------------------------------------------------------------
Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
seek Bankruptcy Court's approval of certain procedures relating to
the sale of their Cryoscience business, free and clear of all
liens, claims, encumbrances, and interests.

Cryogenics is a designer, engineer and manufacturer of cryogenic
equipment designed to transport and store liquefied atmospheric and
hydrocarbon gases.  Cryogenics has a single United States operation
in Theodore, Alabama.  Cryogenics is the direct or indirect parent
of several foreign non-debtor subsidiaries which have manufacturing
operations in China, Malaysia, Slovakia, and warehousing operations
in Germany and Australia.

It is the Debtors' intention to sell all of their remaining assets
and businesses, including the assets related to the CryoScience
Business, Cryogenics' Theodore, Alabama plant, and the stock and/or
assets of Cryogenics' foreign subsidiaries.  Accordingly, under the
Bidding Procedures, if approved by the Court, the Debtors intend to
solicit bids for Cryogenics' U.S. Assets and businesses as well as
the assets and businesses of Cryogenics' foreign subsidiaries.

Prior to the Petition Date, the Debtors and Haier Medical and
Laboratory Products USA, Inc., as Stalking Horse Bidder, have
entered into an Asset Purchase Agreement pursuant to which Haier
agreed to purchase the assets of the CryoScience Business for $24
million in cash and the assumption of certain liabilities, subject
to higher and better bids.

Pursuant to the Agreement, the Debtors may terminate the Stalking
Horse APA to consummate an alternate transaction entered into in
accordance with the Bidding Procedures Order, upon paying the
Stalking Horse Buyer a break-up fee of $875,000.

If the Stalking Horse APA is terminated under certain other
circumstances, Stalking Horse Buyer may be entitled to the
reimbursement of its actual and reasonable expenses, including
attorney's fees, in an amount not to exceed $350,000.

The Debtors propose this timeline for the Sale of their Assets:

   * Bidding Procedures Hearing: Not later than Oct. 20, 2015

   * Submission Deadline for Qualified Bids: Not later than
     Nov. 6, 2015, at 5:00 p.m. (Prevailing Eastern time)

   * Auction (if an Auction is to be held): Not later than
     Nov. 11, 2015

   * Proposed Hearing to approve a Sale or Sales: Not
     later than Nov. 16, 2015

                         Bidding Procedures

The Debtors seek to establish procedures to allow them to solicit
higher and better offers for the CryoScience Business.  In order to
maximize the value of their Assets for the benefit of their estates
and their respective creditors, the Debtors seek to implement a
competitive bidding process that is designed to generate maximum
recovery.

The Debtors and their advisors shall, in consultation with the
Consultation Parties (i) determine whether any bid for any of the
Debtors' Assets is a Qualified Bid, (ii) coordinate the efforts of
Qualified Bidders in conducting their due diligence investigations,
(iii) solicit and receive offers from Qualified Bidders, and (iv)
negotiate in good faith any offers made to purchase the Debtors'
Assets.

Any sale of the Debtors' Assets shall be on an "as is, where is"
basis and without representations or warranties of any kind,
nature, or description by the Debtors, their agents or their estate
except to the extent set forth in the Stalking Horse APA
or the operative purchase agreement of another Successful Bidder.

If a Qualified Bid other than that submitted by the Stalking
Horse Buyer has been received by the Debtors prior to the Bid
Deadline, the Debtors shall conduct the Auction to consider and
determine the highest and best offer for the Debtors' Assets.
The time and date of the Auction shall be as set forth in the
Bidding Procedures Order as approved by the Court.

Prior to closing the Auction, the Debtors shall (i) immediately
review each Qualified Bid on the basis of financial and contractual
terms and the factors relevant to the sale process, including those
factors affecting the speed and certainty of
consummating the proposed sale, and (ii) after consultation with
the Consultation Parties, identify the highest, best or otherwise
financially superior offers for the Debtors' Assets, which highest,
best or otherwise financially superior offers will provide the
greatest amount of net value to the Debtors, and advise the
Qualified Bidders of that determination.

The Debtors seek approval for the Sale Hearing to be conducted by
the Bankruptcy Court no later than Nov. 16, 2015, or on such date
and time as may be established by the Bankruptcy Court.

                       About Taylor-Wharton

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead
Case No. 15-12075) on Oct. 7, 2015.  The petition was signed by
Thomas Doherty as chief restructuring officer.

Cryogenics is a leading designer, engineer and manufacturer of
cryogenic equipment designed to transport and store liquefied
atmospheric and hydrocarbon gases.  Cryogenics has a single United
States operation in Theodore, Alabama.  Cryogenics is the direct
or indirect parent of several foreign non-debtor subsidiaries which
have manufacturing operations in China, Malaysia, Slovakia, and
warehousing operations in Germany and Australia.

The Debtors have engaged Reed Smith LLP as general bankruptcy
counsel, Argus Management Corporation as interim management
services provider, Stifel, Nicolaus & Company, Incorporated and
Miller Buckfire & Company LLC as investment banker and Logan &
Company, Inc., as noticing and claims agent.

The Debtors estimated both assets and liabilities of $100 million
to $500 million.  O'Neal Steel Inc. is listed as the largest
unsecured creditor holding a trade claim of $788,815.

Judge Brendan Linehan Shannon is assigned to the case.



TAYLOR-WHARTON: Seeks Interim OK of $10.8-Mil. Revolver Loan
------------------------------------------------------------
Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
are asking permission from the Bankruptcy Court to obtain
post-petition financing from Antares Capital LP, as lender and
agent, to fund, among other things, ongoing working capital,
general corporate expenditures and other financing needs.

The Debtors also seek authority to use cash collateral of the
prepetition secured parties.

The Debtors and Antares entered into a senior secured priming and
superpriority credit agreement which provides up to $10,850,000
under the DIP Revolver Facility, on an interim basis.
On a final basis, the DIP Facility provides up to an aggregate
principal amount of $13,250,000 under the DIP Revolver Facility,
and $12,000,000 under the Roll Up DIP Facility.

"[A]bsent such authority, the Debtors would not have access to any
additional liquidity, which would negatively impact the enterprise
value of the Debtors' estates during the sale process," says.
Cory J. Falgowski, Esq., at Reed Smith LLP, counsel to the
Debtors.

All of the DIP Obligations will constitute allowed superpriority
administrative claims pursuant to Section 364(c)(1) of the
Bankruptcy Code.

Each DIP Loan will bear interest on the outstanding principal
amount thereof from the date when made at a rate per annum equal to
the Base Rate plus the Applicable Margin.

"Applicable Margin" means (a) with respect to Revolving Loans,
10.5% per annum and (b) with respect to Roll-Up Loans, 8.50% per
annum.  Interest on each DIP Loan shall be paid in cash and in
arrears on each Interest Payment Date.

The Prepetition Secured Parties have agreed, or are deemed to have
agreed, to permit the Debtors to use the Prepetition First Lien
Collateral and the Prepetition Second Lien Collateral, including
the Cash Collateral, according to the Debtors.

The Debtors seek authority to grant priming liens to the DIP
Secured Parties to secure the DIP Obligations against the DIP
Collateral.

                       About Taylor-Wharton

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead
Case No. 15-12075) on Oct. 7, 2015.  The petition was signed by
Thomas Doherty as chief restructuring officer.

Cryogenics is a leading designer, engineer and manufacturer of
cryogenic equipment designed to transport and store liquefied
atmospheric and hydrocarbon gases.  Cryogenics has a single United
States operation in Theodore, Alabama.  Cryogenics is the direct
or indirect parent of several foreign non-debtor subsidiaries which
have manufacturing operations in China, Malaysia, Slovakia, and
warehousing operations in Germany and Australia.

The Debtors have engaged Reed Smith LLP as general bankruptcy
counsel, Argus Management Corporation as interim management
services provider, Stifel, Nicolaus & Company, Incorporated and
Miller Buckfire & Company LLC as investment banker and Logan &
Company, Inc., as noticing and claims agent.

The Debtors estimated both assets and liabilities of $100 million
to $500 million.  O'Neal Steel Inc. is listed as the largest
unsecured creditor holding a trade claim of $788,815.

Judge Brendan Linehan Shannon is assigned to the case.



TAYLOR-WHARTON: Wants to Pay $2 Million to Critical Vendors
-----------------------------------------------------------
Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
seek authority from the Bankruptcy Court to pay certain
pre-petition claims of critical vendors and service providers in an
aggregate amount of up to $2 million.

The Debtors believe that immediate payment of pre-petition claims
of those vendors and service providers is not only crucial to their
bankruptcy efforts and preservation of the value of CryoScience
through the sale process, but also immediately necessary in light
of the industry in which they operate.

The Critical Vendors generally consist of the parties that supply,
either directly or as a distributor, steel, machine parts, fiber,
valves, pipe, other metals, finished tanks, and other parts, known
as "Materials" related to the manufacturing of tanks, cylinders,
valves, and other products which are sold by the Debtors.

Critical Vendors also include so-called MRO (maintenance, repair,
and operations) providers and other service providers that render
vital services to each of the Debtors' business locations in a
uniform, satisfactory, and cost-effective basis.

The Debtors tell the Court that the failure to pay the Critical
Vendor Claims would result in the Critical Vendors refusing to
provide goods or services to them post-petition which could have an
immediately devastating effect on their ability to operate their
business and negatively impact the value of their assets during the
sale process.

The Debtors propose to condition the payment of a Critical Vendor
Claim on the agreement of each individual Critical Vendor to
continue supplying goods and/or services to the Debtors on terms
that are consistent with the historical trade terms between the
parties.  The Debtors reserve the right to negotiate different
trade terms with any Critical Vendor, as a condition to payment of
any Critical Vendor Claim, to the extent the Debtors determine that
such trade terms are necessary to procure essential goods or
services or are otherwise in the best interests of their estates.

                       About Taylor-Wharton

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead
Case No. 15-12075) on Oct. 7, 2015.  The petition was signed by
Thomas Doherty as chief restructuring officer.

Cryogenics is a leading designer, engineer and manufacturer of
cryogenic equipment designed to transport and store liquefied
atmospheric and hydrocarbon gases.  Cryogenics has a single United
States operation in Theodore, Alabama.  Cryogenics is the direct
or indirect parent of several foreign non-debtor subsidiaries which
have manufacturing operations in China, Malaysia, Slovakia, and
warehousing operations in Germany and Australia.

The Debtors have engaged Reed Smith LLP as general bankruptcy
counsel, Argus Management Corporation as interim management
services provider, Stifel, Nicolaus & Company, Incorporated and
Miller Buckfire & Company LLC as investment banker and Logan &
Company, Inc., as noticing and claims agent.

The Debtors estimated both assets and liabilities of $100 million
to $500 million.  O'Neal Steel Inc. is listed as the largest
unsecured creditor holding a trade claim of $788,815.

Judge Brendan Linehan Shannon is assigned to the case.



TELX GROUP: S&P Raises Corp. Credit Rating From 'B-'
----------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on New York City-based Telx Group Inc. to 'BBB' from
'B-'.  The outlook is stable.

At the same time, S&P removed all ratings from CreditWatch, where
it placed them with positive implications on July 15, 2015.

S&P subsequently withdrew its 'BBB' corporate credit rating on Telx
following its acquisition by DLR and the repayment of all the
company's debt.

"The rating action follows the announcement that DLR has
successfully closed the $1.9 billion acquisition of Telx and
redeemed all of the company's debt," said Standard & Poor's credit
analyst Michael Altberg.



TERRAFORM POWER: Moody's Affirms Ba3 CFR, Outlook Stable
--------------------------------------------------------
Moody's Investors Service affirmed TerraForm Power Operating LLC
(TPO) Ba3 Corporate Family Rating and its B1 senior unsecured
rating.  At the same time, Moody's changed TPO's rating outlook to
stable from positive.  TPO is an indirect subsidiary of TerraForm
Power Inc (TERP, not rated), a publicly listed yield vehicle
controlled and partially owned by renewable energy developer
SunEdison Inc (SUNE, not rated).

Outlook Actions:

Issuer: TerraForm Power Operating LLC
  Outlook, Changed To Stable From Positive

Affirmations:

Issuer: TerraForm Power Operating LLC
  Probability of Default Rating, Affirmed Ba3-PD
  Speculative Grade Liquidity Rating, Affirmed SGL-2
  Corporate Family Rating, Affirmed Ba3
  Senior Unsecured Regular Bond/Debenture, Affirmed B1/LGD4

RATINGS RATIONALE

"We revised the rating outlook to stable from positive due to the
current capital market conditions." said Swami Venkataraman, Vice
President -- Senior Credit Officer.  "For now, we think both TERP
and SUNE are effectively locked out of the equity markets, which
will hamper their financial strategy.  While TPO's moderate
leverage and stable cash flow generation from existing projects
allows us to maintain the Ba3 CFR, a rating upgrade appear unlikely
over the next 12 to 18 months." added Venkataraman.

TPO's Ba3 CFR reflects its well-diversified portfolio of solar and
wind projects across North America, Canada, UK and Chile.  Moody's
sees these regulatory jurisdictions as being above average in terms
of transparency and contractual underpinnings, a material credit
positive.  These regulatory frameworks provide good visibility
around the project cash flows and ability to upstream dividends.
TPO's average contract duration is approximately 17 years, which
underpins cash flow stability.  TPO's assets continue to operate
well and its wind facilities, located mainly in New England and
Hawaii, have not faced underperformance issues unlike the rest of
continental US.

TPO's Ba3 rating is constrained by its leverage, and the need to
absorb several recent, large acquisitions.  As of June 30, 2015,
Moody's calculates TPO's proforma ratio of consolidated Debt to
EBITDA at 5.8x, slightly higher than the company's stated range of
5-5.5x, but still viewed as adequate for the rating category.
Moody's higher ratio includes a reduction to EBITDA by the amount
of tax equity payments at projects and also due to $346 million in
construction financing at the UK projects and certain US projects.
TPO does not make those adjustments for its 5-5.5x target.

The key credit risk for TPO is a more aggressive strategic or
corporate finance policy (such as debt-funded acquisitions)
designed to maintain dividend growth at the expense of the credit
profile.  Moody's notes that the publicly communicated long-term
dividend per share growth target still remains at 20%.  The Ba3 CFR
assumes that management will continue to retain its current
financial policies, especially a consolidated Debt/EBITDA ratio in
the range of 5-5.5x.  Upon final completion of the Invenergy and
Vivint acquisitions, Moody's thinks TPO will have sufficient cash
flows to achieve 20% dividend growth in 2016, although it will need
more assets in 2017 to maintain that rate.

While SUNE remains a source of downside credit risk for TERP, we do
not currently see a material, near-term downside risk to TPO from
SUNE.  First, SUNE's has about $1.38 billion in cash as of the end
of the 3rd quarter, and a $750 million corporate revolver used for
LC purposes.  All recourse debt on SUNE's balance sheet consists of
convertible securities where lenders cannot demand settlement in
cash.  SUNE's business strategy has also pivoted away from reliance
on its YieldCos towards a "build and sell" model, either to third
parties or to its own warehouses.  And while SUNE still has an
aggressive target of 3.3-3.7 GW in new projects for 2016,
commencement of construction will be contingent upon the closing of
construction revolvers or project financings for each project.
Currently, project finance markets for renewable projects remain
open and institutional investor appetite for these assets remains
substantial.  The key risk for SUNE would be if it is unable to
sell projects that it has constructed.

TERP and SUNE are currently finalizing financing for the Invenergy
and Vivint acquisitions.  Although both companies have committed
financing from banks, they are looking to arrange alternate
facilities that provide better terms.  This includes $500 million
term facility at SUNE, $1.58 billion warehouse for Invenergy
assets, and $819 million at TPO through $619 million of project
level debt and a $200 million unsecured bond issue.  Moody's
assumes that TPO and SUNE will execute these financings
successfully and may review ratings once again should they fail.
The bulk of this financing is at the project level, where capital
markets are still active for contracted renewable assets.

TPO's Speculative Grade Liquidity rating is SGL-2.  TPO would have
exhausted most of its balance sheet cash when the Vivint
acquisition closes.  Its unused $725 million revolver will be its
main source of liquidity in 2016.  TPO's operational working
capital requirements are generally quite small and the company will
use its revolver mainly to finance acquisitions, if any, before
eventually being replaced with an appropriate mix of debt and
equity.  The revolver is secured by all the assets of TERP, which
essentially consists of equity interests in the various project
subsidiaries.

The stable outlook on TPO reflects our expectations for stable
operations at the company's projects, the successful completion of
the Vivint and Invenergy financings, and an expectation that the
company will adhere to its stated financial policy which includes a
consolidated Debt/EBITDA ratio of 5-5.5x.

Moody's does not consider upward rating movements as being likely
in the near term.  A higher rating is possible if the company
demonstrates a track record of growth and absorbing its
acquisitions, ability to consistently raise financing from the
capital markets and maintaining consolidated debt to EBITDA within
the 5-5.5x range, on a sustainable basis.  It is also important
that parent SUNE should have a stable financial profile and
reliable access to the capital markets.

TPO's rating could be downgraded if there is a change in financial
policy causing the company to target materially higher levels of
leverage with a consolidated Debt/EBITDA greater than 6.5-7x.
Downside risks could also arise from parent SUNE facing financial
troubles or liquidity pressures.

The principal methodology used in these ratings was Unregulated
Utilities and Unregulated Power Companies published in October
2014.



U.S. STEEL: Court Approves Canadian Unit's Separation
-----------------------------------------------------
Maria Armental, writing for Dow Jones' Daily Bankruptcy Review,
reported that a Canadian court has approved United States Steel
Corp.'s moves to separate its money-losing Canadian unit and
suspend health-care benefits to retired workers.

Sonja Elmquist, writing for Bloomberg News, reported that under the
pact, the U.S. parent corporation won't bid for the Canadian
company if it comes up for sale in the restructuring process.  The
U.S. parent corporation will also withdraw technical and
engineering services over the next 24 months, the Bloomberg report
related.

According to the DBR report, the unit had an operating loss of $2.4
billion on aggregate, or more than $16 a share, when it filed for
bankruptcy protection last year, the Pittsburgh-based steelmaker
said, adding the unit represented about $1 billion of its
consolidated employee-benefits liability as of June 30, 2014.

                  About U.S. Steel Canada, Inc.

U.S. Steel Canada's operations are located at Lake Erie Works, a
fully integrated steelmaking facility, and at Hamilton Works, home
to cokemaking and finishing operations including our premier
zinc-coating facility, the world-class Z-Line.  U. S. Steel Canada
has the capability of producing approximately 2.6 million tons of
steel annually and employs approximately 2,000 people.

U.S. Steel Canada commenced court-supervised restructuring
proceedings under the Companies' Creditors Arrangement Act, R.S.C.
1985, c. C-36, before the Ontario Superior Court of Justice
(Commercial List) on Sept. 16, 2014.  Ernst & Young Inc. has been
appointed by the CCAA court as monitor pursuant to an Initial CCAA
Order.

                      *     *     *

The Troubled Company Reporter, on July 24, 2015, reported that
Fitch Ratings has affirmed United States Steel Corporation's Issuer
Default Rating (IDR) and debt ratings at 'BB-'.  The Rating Outlook
is Stable.

The ratings reflect U.S. Steel's leading market positions in
flat-rolled and tubular steel in the U.S., together with its high
degree of control over its raw materials offset by the high fixed
costs of integrated steel producers.


WALTER ENERGY: Ernst & Young Approved as Auditors & Tax Advisors
----------------------------------------------------------------
Walter Energy, Inc. and its debtor-affiliates sought and obtained
permission from the Hon. Tamara O. Mitchell of the U.S. Bankruptcy
Court for the Northern District of Alabama to employ Ernst & Young
LLP as auditors and tax advisors, nunc pro tunc to the July 15,
2015 petition date.

The Debtors requires Ernst & Young to provide:

  (a) Audit Services

      -- audit and report on the consolidated financial statements

         of Walter Energy, Inc. for the year ended December 31,
         2015;

      -- if requested by the Debtors, audit and report on the
         effectiveness of the Walter Energy, Inc.'s internal
         control over financial reporting as of December 31, 2015;

      -- review Walter Energy, Inc.'s unaudited interim financial
         information before it files its Form 10-Q.

  (b) Routine On-Call Tax Advice

      -- provide routine tax advice and assistance concerning
         issues as requested by Client when such projects are not
         covered by a separate Statement of Work and do not
         involve any significant tax planning or projects. Such
         projects may include assistance with tax issues by
         answering one-off questions, drafting memos describing
         how specific tax rules work, assisting with general
         transactional issues, and assisting the Debtors in
         connection with its dealings with tax authorities.

Ernst & Young currently intends to charge the Debtors fees for each
of the Services, as set forth below.

  (a) Audit Services

      - Fees for core audit services will be based on the time
        that Ernst & Young professionals spend performing them,
        as adjusted annually on July 1, 2016 while the Audit
        Services are being performed. The current hourly rates
        are as follows:

        National Partner/Principal/
        Executive Director                         $790
        Partner/Principal/Executive Director       $418
        Senior Manager                             $298
        Manager                                    $255
        Senior                                     $160
        Staff                                      $136

      - In addition, Ernst & Young will use personnel from its
        Global Talent Hub located in India to perform certain
        aspects of the Audit Services. The fee for Global Talent
        Hub personnel will be $60,000, which will be a fixed fee.

      - In addition, Ernst & Young expects to use tax
        professionals with specialized skills in matters involving

        bankruptcy and restructuring to conduct its audit of
        income tax accounts, including formulating its conclusions

        with respect to material tax advice or opinions rendered
        by other firms. Ernst & Young's current rates by level for

        those professionals are as follows:

        National Partner                           $790
        Local Transaction Tax Partner              $790
        Local Partner                              $645
        Local Transaction Tax Senior Manager       $685
        Senior Manager                             $565
        Manager                                    $463
        Senior                                     $403
        Staff                                      $204

  (b) Routine On-Call Tax Advice

      - Ernst & Young 's fees for Routine On-Call Tax Advice
        Services will be based on the time that Ernst & Young's
        professionals spend performing them, as adjusted annually
        on July 1 while such Services are being performed. The
        rates, by level of tax professional, are as follows:

        National/Transaction Tax Partner/
        Principal/Executive Director               $790
        Local Tax Partner/Principal/
        Executive Director                         $615
        Senior Manager                             $535
        Manager                                    $440
        Senior                                     $350
        Staff                                      $190

On or about April 23, 2015, the Debtors provided a retainer to
Ernst & Young in the amount of $800,000 (the "Retainer"). Pursuant
to its agreement with the Debtors, Ernst & Young submitted invoices
to the Debtors and deducted the amounts set forth on such invoices
from the Retainer. The Debtors replenished the Retainer after
receiving invoices. As of the Petition Date, the balance in the
Retainer was approximately $800,000.

During the 90 days preceding the Petition Date, the Debtors paid a
total of $1,405,764 to Ernst & Young. This amount consists of (a)
the Retainer in the amount of $800,000; and (b) $605,764 of
payments Ernst & Young received during the ninety days preceding
the Petition Date after receiving the Retainer.

Jeffery L. Blankenship, partner of Ernst & Young, 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.

Ernst & Young can be reached at:

       Jeffery L. Blankenship
       ERNST & YOUNG LLP
       1901 Sixth Avenue North, Suite 1200
       Birmingham, AL 35203
       Tel: (205) 251-2000
       Fax: (205) 226-7470

                       About Walter Energy

Walter Energy -- http://www.walterenergy.com/-- is a publicly
traded "pure-play" metallurgical coal producer for the global steel
industry with strategic access to steel producers in Europe, Asia
and South America.  The Company also produces thermal coal,
anthracite, metallurgical coke and coal bed methane gas.  Walter
Energy employs approximately 2,700 employees, with operations in
the United States, Canada and the United Kingdom.

For the year ended Dec. 31, 2014, the Company reported a net loss
of $471 million following a net loss of $359 million in 2013.  

Walter Energy, Inc., and its affiliates sought Chapter 11
protection (Bankr. N.D. Ala. Lead Case No. 15-02741) in Birmingham,
Alabama on July 15, 2015, after signing a restructuring support
agreement with first-lien lenders.

Walter Energy disclosed total assets of $5.2 billion and total debt
of $5 billion as of March 31, 2015.

The Debtors tapped Paul, Weiss, Rifkind, Wharton & Garrison as
counsel; Bradley Arant Boult Cummings LLP, as co-counsel; Ogletree
Deakins LLP, as labor and employment counsel; Maynard, Cooper &
Gale, P.C., as special counsel; Blackstone Advisory Services, L.P.,
as investment banker; AlixPartners, LLP, as financial advisor, and
Kurtzman Carson Consultants LLC, as claims and noticing agent.

The Bankruptcy Administrator for the Northern District of Alabama
appointed an Official Committee of Unsecured Creditors and an
Official Committee of Retirees.  The Creditors Committee tapped
Morrison & Foerster LLP and Christian & Small LLP as attorneys.
The Retiree Committee retained Adams & Reese LLP and Jenner & Block
LLP as attorneys.

The informal group of certain unaffiliated First Lien Lenders and
First Lien Noteholders (the "Steering Committee") retained Akin,
Gump, Strauss, Hauer and Feld LLP as legal advisor, and Lazard
Freres & Co. LLC as financial advisor.


WALTER ENERGY: Hires Ogletree Deakins as Special Counsel
--------------------------------------------------------
Walter Energy, Inc. and its debtor-affiliates seek authorization
from the Hon. Tamara O. Mitchell of the U.S. Bankruptcy Court for
the Northern District of Alabama to employ Ogletree, Deakins, Nash,
Smoak & Stewart, P.C. as special counsel, nunc pro tunc to the July
15, 2015 petition date.

The Debtors seek to retain Ogletree Deakins to render necessary
services relating to the Debtors' labor and employment disputes
during the pendency of these Chapter 11 Cases. The professional
services that Ogletree Deakins, through its attorneys, will render
include:

   (a) preparing, on behalf of the Debtors, all necessary and
       appropriate motions, proposed orders, other pleadings,
       notices and other documents in connection with certain
       labor and employment matters (the "Retained Matters");

   (b) advising and assisting the Debtors in connection with any
       settlements concerning the Retained Matters; and

   (c) performing all other necessary or appropriate legal
       services in connection with the Retained Matters.

Ogletree Deakins will be paid at these hourly rates:

       Shareholders and Counsel      $350-$650
       Associates                    $250-$365
       Legal Assistants              $165-$175

Ogletree Deakins will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Ogletree Deakins now holds a retainer in the approximate amount of
$100,000.

John R. Woodrum, partner of Ogletree Deakins, 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.

Ogletree Deakins can be reached at:

       John R. Woodrum, Esq.
       OGLETREE, DEAKINS, NASH,
       SMOAK & STEWART, P.C.
       1909 K Street NW, Suite 1000
       Washington, D.C.
       Tel: (202) 263-0247
       E-mail: john.woodrum@ogletreedeakins.com

                       About Walter Energy

Walter Energy -- http://www.walterenergy.com/-- is a publicly
traded "pure-play" metallurgical coal producer for the global steel
industry with strategic access to steel producers in Europe, Asia
and South America.  The Company also produces thermal coal,
anthracite, metallurgical coke and coal bed methane gas.  Walter
Energy employs approximately 2,700 employees, with operations in
the United States, Canada and the United Kingdom.

For the year ended Dec. 31, 2014, the Company reported a net loss
of $471 million following a net loss of $359 million in 2013.  

Walter Energy, Inc., and its affiliates sought Chapter 11
protection (Bankr. N.D. Ala. Lead Case No. 15-02741) in Birmingham,
Alabama on July 15, 2015, after signing a restructuring support
agreement with first-lien lenders.

Walter Energy disclosed total assets of $5.2 billion and total debt
of $5 billion as of March 31, 2015.

The Debtors tapped Paul, Weiss, Rifkind, Wharton & Garrison as
counsel; Bradley Arant Boult Cummings LLP, as co-counsel; Ogletree
Deakins LLP, as labor and employment counsel; Maynard, Cooper &
Gale, P.C., as special counsel; Blackstone Advisory Services, L.P.,
as investment banker; AlixPartners, LLP, as financial advisor, and
Kurtzman Carson Consultants LLC, as claims and noticing agent.

The Bankruptcy Administrator for the Northern District of Alabama
appointed an Official Committee of Unsecured Creditors and an
Official Committee of Retirees.  The Creditors Committee tapped
Morrison & Foerster LLP and Christian & Small LLP as attorneys.
The Retiree Committee retained Adams & Reese LLP and Jenner & Block
LLP as attorneys.

The informal group of certain unaffiliated First Lien Lenders and
First Lien Noteholders (the "Steering Committee") retained Akin,
Gump, Strauss, Hauer and Feld LLP as legal advisor, and Lazard
Freres & Co. LLC as financial advisor.


[*] CFPB et al. Issue Framework to Govern Student Loan Market
-------------------------------------------------------------
The Consumer Financial Protection Bureau (CFPB) released a report
outlining widespread servicing failures reported by both federal
and private student loan borrowers. Consumers describe companies
using a wide range of sloppy, patchwork practices that can create
obstacles to repayment, raise costs, cause distress, and contribute
to driving struggling borrowers to default. The Bureau has made it
a priority to take action against companies that are engaging in
illegal servicing practices, and that ongoing work includes
addressing many of the problems outlined in the report. The Bureau
also intends to explore potential industry-wide rules to increase
borrower protections. This work builds on an interagency framework
for market-wide reform released today in coordination with the U.S.
Department of Education and the U.S. Department of the Treasury.

"With one out of four student loan borrowers struggling to repay
their loans or already in default, cleaning up the servicing market
is critical," said CFPB Director Richard Cordray.  "T[he] report
underscores the need for market-wide student loan servicing reforms
to halt harmful practices and boost assistance for distressed
borrowers."

A full-text copy of the Bureau's statement is available at
http://is.gd/JbDdAN

A full-text copy of the Report is available at http://is.gd/ze0jxD


[*] Fitch Says 2015 US HY Default Rate Outlook Boosted to 3.5%
--------------------------------------------------------------
After five issuer defaults already this month accounting for nearly
$2 billion in new volume, Fitch Ratings now expects the US
high-yield default rate to end 2015 at around 3.5%-above the 2.9%
trailing 12-month (TTM) rate through September. This higher
expectation -- from the previous range of 2.5% to 3% -- reflects
ongoing strife in the energy and metals/mining sectors.

Fitch's expectation of a mid-three percent default rate is
materially above the average during non-recessionary periods of 2%.
(The average rate during recessionary periods is 11%.)

Risks to our default rate expectation are to the downside, with a
4% rate more likely than a 3% rate for year-end 2015. The overall
default rate is set to rise further in 2016.

The market is clearly bifurcated -- the commodity complex is in a
down cycle while the rest of the market is exhibiting relative
benign default trends.

For example, September energy and metals/mining trailing TTM
default rates stood at 5% and 10%, respectively. The energy default
rate is at its highest level since 1999, when it registered 10%.
Energy and metals/mining entities accounted for 90% of third
quarter defaults. These sectors experienced three consecutive
months with over $4 billion in defaults, a level not seen since
2009 when monthly volume in the entire market exceeded $4 billion
for seven straight months.

By contrast, the default rate is below 1% after removing energy and
metals/mining defaults as well as Caesars Entertainment Operating
Co. (which defaulted in January) from the September TTM figure.

It would take approximately $19 billion of additional default
volume in the final three months to reach a 4% default rate for
2015. This value of defaults would be more than the average fourth
quarter defaults of $6 billion during the non-recession years since
2010 but well below the recessionary peak of $33 billion
experienced in the final quarter of 2008.

Price collapses and oversupply continue to afflict the energy and
metals/mining sectors and are reflected in their bond prices.
Roughly $82 billion of outstanding energy and metals/mining bonds
are rated 'CCC' or lower. About half of energy and metals/mining
bond issues (which comprise 22% of the overall high yield market)
are bid below 80 cents, compared to 10% for the rest of the
universe. Just 7% of energy and metals/mining was bid below 80 one
year ago.

Further, a material number of bonds in the space are bid below 40
cents, including Arch Coal Inc. and Peabody Energy Inc., with a
combined $8 billion of bond debt. Chapter 11 filings by both
companies would add 0.5% to the default rate.

Asset-based revolver borrowing base resets for several troubled
energy companies are slated for later this month, placing further
pressure on liquidity as oil prices as of yesterday are near $50 a
barrel.



[*] High Court Told Alter-Ego Tax Case Doesn't Warrant Review
-------------------------------------------------------------
Caroline Simson at Bankruptcy Law360 reported that the federal
government told the U.S. Supreme Court it needn't review a Ninth
Circuit decision holding a couple liable for taxes owed by their
company, which owned and operated their Midas franchise stores,
because the rule for alter-ego determinations in tax cases is
firmly established.

In an Oct. 1 brief, the government opposed Robert and Joan
Politte's July petition for certiorari, in which they argued
federal courts don't have the authority to pierce the corporate
veil to allow liens against a taxpayer's alter ego.


[*] NJ High Court to Rule on Priority of Riker Danzig Claim
-----------------------------------------------------------
Martin Bricketto at Bankruptcy Law360 reported that the New Jersey
Supreme Court said on Oct. 5, 2015, that it will consider whether
Riker Danzig Scherer Hyland & Perretti LLP must have priority over
the mortgages of another creditor of certain camera sales
businesses and their owners, who allegedly owed the law firm more
than $3 million in fees.

The justices granted Rosenthal & Rosenthal Inc.'s petition to take
up a published appellate decision in June that toppled a trial
court victory for the company.


                            *********

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
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are $25 each.  For subscription information, contact Peter A.
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                   *** End of Transmission ***