TCR_Public/151015.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, October 15, 2015, Vol. 19, No. 288

                            Headlines

ACTRONIX INC: Case Summary & 20 Largest Unsecured Creditors
AFFIRMATIVE INSURANCE: Case Summary & 30 Top Unsecured Creditors
AFFORDABLE CARE: S&P Assigns 'B-' CCR & Rates $325MM Loan 'B-'
ALLIED NEVADA GOLD: Amended Joint Plan Wins Confirmation
ALONSO & CARUS: Creditors' Panel Opposes Payment Bid

AMERICAN ACHIEVEMENT: S&P Withdraws 'CCC+' Corporate Credit Rating
AMERICAN APPAREL: Has Court's Nod to Obtain $90M Financing
AMERICAN APPAREL: Lender Thinks Ex-CEO Might Disrupt Chapter 11
ARAMID ENTERTAINMENT: Oct. 15 Hearing on Exclusivity Extension Bid
ARIZONA LA CHOLLA: TFCU Settlement Cues Chapter 11 Case Dismissal

ATLANTIC & PACIFIC: May Assume Assessment Tech Consulting Deal
ATLANTIC POWER: Moody's Raises CFR to B1, Outlook Stable
BATTLE CREEK: Taps Eric R. Robbins as Water Rights Consultant
BATTLE CREEK: Trustee Defends Bid to Dismiss Chapter 11 Case
BERNARD L. MADOFF: Investor Looking to Hold E&Y Liable for Losses

BR ENTERPRISES: Plan Exclusivity Period Extended Thru Nov. 25
CLEARWATER SEAFOODS: S&P Affirms 'B+' CCR, Outlook Stable
COLT HOLDING: Claims Bar Date Set for November 20
COMPREHENSIVE OUTPATIENT: Closes After Case Converted to Ch. 7
CORNERSTONE HOMES: Can Use Cash Collateral Until Nov. 30

COYNE INTERNATIONAL: Proposes $500K Bonuses to Key Employees
D & R HOLDINGS: Case Summary & 5 Largest Unsecured Creditors
DASHLEY REALTY: Case Summary & 3 Largest Unsecured Creditors
DETROIT DDA: Fitch Affirms BB+ Ratings on 1998 Tax Increment Bonds
DIGITAL DOMAIN: Court Approves Latest Amendment to Final DIP Order

DIOCESE OF GALLUP: Judge Rejects New Sale of Diocese Properties
DOTS LLC: Court Approves Manor Ventures as Exclusive Agent
ECO BUILDING: Mark Zorko Quits as Director
EL PASO CHILDREN'S: Reaches Deal with Landlord
ELBIT IMAGING: Board OKs NIS 50 Million Notes BuyBack Program

ELBIT IMAGING: Gamida Cell Has Investment Agreement with Novartis
ELBIT IMAGING: Interim Injunction Hearing Moved to Oct. 18
ELECTRIC SERVICE OF MONTGOMERY: Case Summary & 20 Top Creditors
ESSAR STEEL: Moody's Lowers CFR to Caa3, Outlook Negative
FOUNTAIN HILLS: Case Summary & Largest Unsecured Creditor

FOUNTAIN HILLS: Files Schedules of Assets and Liabilities
FOUNTAIN HILLS: Hires Michael K. Daniels as Attorney
GARLOCK SEALING: EJ Saad Law Firm Represents Asbestos Claimants
GARLOCK SEALING: Rayburn Added to "Retained Counsel" Definition
GAS-MART USA: Judge Denies Custodian's Ch. 11 Dismissal Motion

GREEN EARTH: Incurs $8.1 Million Net Loss in Fiscal 2015
HAGGEN HOLDINGS: Trustee Wants Stroock Off Case Over JPMorgan Ties
HARBOR PLUMBING: Involuntary Chapter 11 Case Summary
HD SUPPLY: Unit Redeems $675M Outstanding 11% Sr. Notes Due 2020
HEPAR BIOSCIENCE: Reorganization Plan Confirmed

HOVENSA LLC: To Auction Off Oil Terminal Assets on November 10
HYDROCARB ENERGY: KBM Worldwide No Longer a Shareholder
ISENSE ACQUISITION: GEMCAP to Auction Off Assets on October 21
J.L. BROWN CONTRACTING: Case Summary & 15 Top Unsecured Creditors
LANNETT CO.: Moody's Assigns B1 CFR & Rates $1.285BB Facility B1

LIBERATOR INC: Incurs $473,700 Net Loss in Fiscal 2015
LIGHTSQUARED INC: 2nd Circ. Denies Ex-CEO's Bid to Stay Ch. 11
MALIBU LIGHTING: Unit Gets OK to Tap Part of $21.5M DIP Loan
MORNINGSTAR MARKETPLACE: M&T Seeks Adequate Protection
MORNINGSTAR MARKETPLACE: Seeks to Modify Cash Collateral Use

NAT'L ASSISTANCE BUREAU: Case Summary & 13 Top Unsecured Creditors
NORTHSHORE MAINLAND: Drops Bid to Employ Robert Kors as CRO
NORTHSHORE MAINLAND: Needs Until Jan. 25 to Decide on Leases
ORLANDO GATEWAY: Taps Hari Garhwal as Accountant
OW BUNKER: Gets A Few More Days of Exclusivity in Chapter 11

PARAGON OFFSHORE: Creditors Said to Hire Ducera for Debt Talks
PLASKOLITE LLC: S&P Assigns 'B' CCR & Rates $345MM Facilities 'B+'
RELATIVITY FASHION: Court Approves Sheppard Mullin as Co-counsel
RELATIVITY FASHION: FTI Consulting Approved as Turnaround Manager
RELATIVITY MEDIA: Affiliate to Sell Rights to Movie to IM Global

RELATIVITY MEDIA: Sec. 341 Meeting Continued to Oct. 20
ROTONDO WEIRICH: Maschmeyer Karalis Okayed as Bankruptcy Counsel
SABOR HISPANO: Case Summary & 20 Largest Unsecured Creditors
SAN BERNARDINO: Bankruptcy Judge Says More Information Is Needed
SEQUENOM INC: Camber Capital Reports 13% Stake as of Oct. 1

SINBAD'S PIER II: Voluntary Chapter 11 Case Summary
SK HOLDCO: S&P Affirms 'B' Corp. Credit Rating, Outlook Stable
TALEN ENERGY: Moody's Affirms Ba2 CFR, Outlook Negative
TALEN ENERGY: S&P Lowers ICR to 'B+' on Weak Finc'l. Measures
TECK RESOURCES: Fitch Cuts Issuer Default Rating to 'BB+'

TRI STATE TRUCKING: Case Summary & Largest Unsecured Creditor
TRI STATE TRUCKING: Seeks to Employ Mette Evans as Attorney
US STEEL: Moody's Puts Ba3 CFR Under Review for Downgrade
VINCE LLC: Moody's Affirms B2 CFR & Changes Outlook to Negative
VIPER VENTURES: Wells Fargo Balks at Exclusivity Extension Bid

WAUSAU PAPER: Moody's Puts B2 CFR Under Review for Upgrade
WESTRIDGE DENTAL: Case Summary & 15 Largest Unsecured Creditors
XPO LOGISTICS: Moody's Confirms B1 CFR, Outlook Stable
XPO LOGISTICS: S&P Assigns 'BB-' Rating on Proposed $1.75BB Loan
YASIEL PUIG: Agent Says MLB Contracts Row Belongs in Arbitration

ZEKE'S WORLD: Case Summary & 3 Largest Unsecured Creditors
[*] 2nd Circ. Won't Reconsider Argentina Central Bank Ruling
[*] Fitch: Low Commodity Prices to Slash Energy Revenues Thru 2016
[*] Inertia May Decide Fate of Proposed Changes to Bankruptcy Law
[^] Recent Small-Dollar & Individual Chapter 11 Filings


                            *********

ACTRONIX INC: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Actronix, Inc.
        P.O. Box 310
        Flippin, AR 72634

Case No.: 15-72593

Chapter 11 Petition Date: October 13, 2015

Court: United States Bankruptcy Court
       Western District of Arkansas (Harrison)

Judge: Hon. Ben T Barry

Debtor's Counsel: Jill R. Jacoway, Esq.
                  JACOWAY LAW FIRM, LTD.
                  PO Drawer 3456
                  Fayetteville, AR 72702-3456
                  Tel: (479) 521-2621
                  Email: jacowaylaw@sbcglobal.net

                     - and -

                  CARTER LEDYARD & MILBURN LLP

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Randy Steinberg, secretary.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/arwb15-72593.pdf


AFFIRMATIVE INSURANCE: Case Summary & 30 Top Unsecured Creditors
----------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

     Debtor                                       Case No.
     ------                                       --------
     Affirmative Insurance Holdings, Inc.         15-12136
     150 Harvester Drive, Suite 250
     Burr Ridge, IL 60527

     Affirmative Management Services, Inc.        15-12137

     Affirmative Services, Inc.                   15-12138

       Affirmative Underwriting Services, Inc.    15-12139

       Affirmative Insurance Services, Inc.       15-12140

       Affirmative General Agency, Inc.           15-12141

       Affirmative Insurance Group, Inc.          15-12142

       Affirmative, L.L.C.                        15-12143

Type of Business: Insurance

Chapter 11 Petition Date: October 14, 2015

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

Debtors' General    Darren Azman, Esq.
Bankruptcy          Timothy W. Walsh, Esq.
Counsel:            MCDERMOTT WILL & EMERY LLP
                    340 Madison Avenue
                    New York, NY 10173-1922
                    Tel: 212-547-5400
                    Fax: 212-547-5444
                    Email: dazman@mwe.com
                           twwalsh@mwe.com

Debtors'            Christopher A. Ward, Esq.
Local               Shanti M. Katona, Esq.
Counsel:            Jarrett Vine, Esq.
                    POLSINELLI PC
                    222 Delaware Avenue, Suite 1101
                    Wilmington, DE 19801
                    Tel: 302-252-0924
                    Fax: 302-252-0921
                    Email: cward@polsinelli.com
                           skatona@polsinelli.com
                           jvine@polsinelli.com

Debtors'            FAEGRE BAKER DANIELS LLP
Special
Regulatory
Counsel:

Debtors'            BDO USA LLP
Financial
Consultant:

Debtors'            RUST CONSULTING/OMNI BANKRUPTCY
Notice and
Claims Agent:

Total Assets: $25.20 million as of Aug. 31, 2015

Total Debts: $91.26 million as of Aug. 31, 2015

The petition was signed by Michael J. McClure, chief executive
officer.

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
The Bank of New                     Debt Securities   $35,783,110
York Mellon Trust
Company, N.A., as Trustee
Trust Office
Attn: Nancy R. Johnson
500 Ross Street 12 Floor
Pittsburgh, PA 15262

The Bank of New                     Debt Securities   $29,764,605
York Mellon Trust
Company, N.A., as Trustee
Trust Office
Attn: Nancy R. Johnson
500 Ross Street 12 Floor
Pittsburgh, PA 15262

The Bank of New                      Subordinated     $20,546,350
York Mellon Trust                        Notes
Company, N.A., as Trustee
Trust Office
Attn: Nancy R. Johnson
500 Ross Street 12 Floor
Pittsburgh, PA 15262

Confie Seguros                       Purchase Price    $2,330,000  

Holding II Co.                         Adjustment
c/o Confie Seguros Holding Co.       --------------
Attn: Valeria Rico                     Trade Debt        $538,834
7711 Center Ave., Suite 200
Huntington Beach, CA 92647

Internal Revenue Services                 Taxes          $988,137
Centralized Insolvency Operation
P.O. Box 7346
Philadelphia, PA 19101

Texas Comptroller Office              Escheat Checks     $879,016
Texas Comptroller of Public           --------------
Accounts                                   Taxes         $129,399
P.O. Box 13528, Capitol Station
Austin, TX 78711

Louisiana Department of Revenue            Taxes         $684,120

Illinois State Treasurer              Escheat Checks     $282,010

Indiana Department of Revenue              Taxes         $181,943

Alabama State Treasurer               Escheat Checks     $171,731

Florida Department of Revenue              Taxes         $113,150

Blue Cross Blue Shield                    Medical        $106,597
                                         Benefits

Office of the Indiana                Escheat Checks      $102,035
Attorney General

State of Florida Treasury            Escheat Checks       $56,654

Missouri State Treasurer             Escheat Checks       $51,707

Louisiana Economic Development          Agreement         $51,000

Missouri Department of Revenue            Taxes           $32,873

California State Controller's        Escheat Checks       $31,957
Office

Georgia Department of Revenue        Escheat Checks       $27,547

State Treasurer of South             Escheat Checks       $21,074
Carolina

McGlinchey Stafford PLLC              Professional        $14,170
                                        Services

Michigan Department of Treasury      Escheat Checks       $12,697

Pedersen & Houpt                     Professional         $12,275
                                       Services

State of Delaware                       Taxes             $11,308

RR Donnelley                         Professional         $11,179
                                       Services

Glencoe Capital, LLC                     Lease            $10,591

Arizona Department of Revenue        Escheat Checks        $6,988

Louisiana Department of              Escheat Checks        $5,347
Treasury

Stealth Partner Group               Medical Benefits       $5,333

AIPSO                                 Professional         $4,798
                                        Services


AFFORDABLE CARE: S&P Assigns 'B-' CCR & Rates $325MM Loan 'B-'
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned North Carolina-based
Affordable Care Holding Corp. its 'B-' corporate credit rating. The
outlook is stable.

At the same time, S&P assigned a 'B-' rating to the company's
proposed $325 million senior secured term loan and $40 million
revolving credit facility.  The recovery rating on this debt is
'3', indicating S&P's expectation for meaningful (50% to 70%; at
the high end of the range) recovery of principal in event of a
default.

"Our rating on dental services organization Affordable Care
reflects the company's niche operating focus and limited scale,
offset by likely steady demand for the company's services, low
reimbursement risk, and solid geographic diversity," said Standard
& Poor's credit analyst Arthur Wong.

Following its acquisition by Berkshire Partners, S&P projects pro
forma lease-adjusted debt to EBITDA of over 8x and funds from
operations (FFO) to adjusted debt in the mid-single-digits for
fiscal year-end 2015.  While S&P expects leverage to decline in the
coming years, credit measures should remain consistent with a
"highly leveraged" financial risk profile.  S&P believes Affordable
Care has "adequate" liquidity, and project that liquidity sources
will cover uses by more than 1.2x over the next year.

S&P's stable outlook reflects its expectations that Affordable Care
should continue to benefit from favorable demographics that will
result in high-single-digit to low-double-digit revenue growth over
the next several years.  S&P projects that Affordable Care's EBITDA
margins will remain relatively stable over the next year, that the
company will continue to generate modest free cash flows, and that
leverage will gradually decline to the mid- to low-7x range over
the next couple of years.  However, the company operates in a
highly specialized and niche segment, which constrains its business
risk profile and its credit measures will remain firmly consistent
with that of a "highly leveraged" financial risk profile.

S&P would consider a lower rating if the company's margins
unexpectedly deteriorate or revenues decline due to loss of market
share, resulting in cash outflows.  S&P could also consider a
downgrade if leverage climbs to double-digit territory.

S&P would consider a higher rating should the company's adjusted
leverage decline to the 6x to 6.5x range, revenue growth and EBITDA
margins remain stable, free cash flows remain solidly positive, and
FFO to total adjusted debt improves to the double-digit range.



ALLIED NEVADA GOLD: Amended Joint Plan Wins Confirmation
--------------------------------------------------------
Judge Mary F. Walrath on Oct. 8, 2015, issued findings of fact,
conclusions of law and order confirming Allied Nevada Gold, et
al.'s Amended Joint Chapter 11 Plan of Reorganization.  

Allied Nevada filed amended plan supplements in connection with
their Amended Joint Chapter 11 Plan of Reorganization filed Aug.
27, 2015.  The Debtors say that that the documents contained in the
plan supplements are integral to and part of the Plan.

Contents of the Plan Supplements include:

   * Exhibit A – New Organizational Documents
   * Exhibit A-1(a) – Certificate of Inc. of Hycroft Mining
Corp.
   * Redline Exhibit A-1(a) – Redline Cert. of Inc. of Hycroft
   * Exhibit B – New First Lien Term Loan Credit Agreement
   * Exhibit B-1—Redline New First Lien Term Loan Credit
Agreement
   * Exhibit C – New Intercreditor Agreement
   * Exhibit C-1—Redline New Intercreditor Agreement
   * Exhibit D – Notes Purchase Agreement
   * Exhibit D-1—Redline Notes Purchase Agreement
   * Exhibit E – New Second Lien Convertible Notes Indenture
   * Exhibit E-1—Redline New Second Lien Conv. Notes Indenture
   * Exhibit F – New Warrant Agreement
   * Exhibit F-1—Redline New Warrant Agreement
   * Exhibit I – Schedule of Assumed Contracts & Unexp. Leases
   * Exhibit J – Stockholders Agreement
   * Exhibit J-1—Redline Stockholders Agreement
   * Exhibit K – Management Incentive Plan
   * Exhibit K-1—Redline Management Incentive Plan
   * Exhibit L – Post-Emergence Key Employee Retention Plan
   * Exhibit L-1—Redline Post-Emergence Key Employee Ret. Plan
   * Exhibit N – Identity of New Warrant Representative

Copies of the Amended Plan Supplements are available for free at:

    http://bankrupt.com/misc/Allied_N_1024_Plan_Supplement.pdf
    http://bankrupt.com/misc/Allied_N_1060_Plan_Supplement.pdf
    http://bankrupt.com/misc/Allied_N_1122_Plan_Supplement.pdf
    http://bankrupt.com/misc/Allied_N_1129_Plan_Supplement.pdf
    http://bankrupt.com/misc/Allied_N_1134_Plan_Supplement.pdf

                      Plan Confirmed October 8

As set forth in the voting certification of Prime Clerk LLC, the
Amended Plan was accepted by all Classes of Claims and interests
that were entitled to vote on the Amended Plan.  The Holders of
Class 1 Secured ABL Claims and Class 2 Secured Swap Claims voted
unanimously to accept the Amended Plan.  Over 97% in number and 99%
in amount of Class 4 Unsecured Claims that voted, voted to accept
the Amended Plan.  As of Oct. 2, 2015, over 70% in number of
Existing Equity Interests that voted on the Amended Plan, voted to
accept the Amended Plan.  While the Debtors received three votes
from Holders of Class 6 Subordinated Securities Claims, all of whom
voted to reject the Amended Plan, all of such Subordinated
Securities Claims are disallowed for voting purposes pursuant to
the Disclosure Statement Order.

Objections to the Plan were filed by (i) Jordan Darga, Brian
Tuttle, James H. Roberson and Stoyan Tachev (Collectively, the
"Shareholder Objections"), (ii) Cigna Health and Life Insurance
Company, (iii) Cummins Rocky Mountain, LLC, and (iv) the United
States to the Amended Plan (collectively, the "Objections").

The Debtors told the Court that they have been working with various
parties to address their respective concerns, and, as a result, a
substantial amount of the pending objections have been
-- or will be -- resolved in advance of the Oct. 6 Confirmation
Hearing through the inclusion of language in the proposed
Confirmation Order.  As of Oct. 2, one of the Objections has been
resolved, leaving seven unresolved objections to be decided at the
Confirmation Hearing.  The unresolved objections relate to the
Shareholder Objections, the Cummins Limited Objection, and the U.S.
Objection.

The Debtors argued that the Objecting Shareholders' assertions --
that (i) the valuation conclusion of the Debtors' financial
advisors does not accurately reflect the market value of the
Debtors, (ii) the Amended Plan is the result of "fraud" and has not
been proposed in good faith, and (iii) the Debtors have not
adequately disclosed certain information relating to the treatment
of Holders of Existing Equity Interests and certain releases
incorporated into the Amended Plan -- are baseless.  The
Shareholder Objections ultimately amount to objections to the
Debtors' valuation of the Estates.  According to the Debtors, the
estimation of value set forth by the Shareholder Objections is
incorrect and the Debtors' valuation analysis is a far more
accurate and reliable depiction of the value of the Debtors'
Estates.

The Cummins Limited Objection seeks a finding that a portion of
Cummins' prepetition claim is an Allowed Administrative Expense
Claim and, therefore, must be paid in full on the Effective Date.
The Debtors responded that the Cummins Limited Objection is nothing
more than a claims allowance issue, not a Confirmation issue and,
therefore, is not properly before the Court in connection with
Confirmation.

The United States, on behalf of the Department of Labor (the "DOL")
and the Internal Revenue Service (the "IRS") raises the following
objections: (a) even though the DOL and IRS have not and will not
vote on the Amended Plan, the Amended Plan's Third Party Consensual
Releases do not apply to them; (b) the Amended Plan fails to
protect their setoff and recoupment rights; (c) the Amended Plan
fails to provide for payment of interest on behalf of any
Administrative Expense Claim of the U.S.; (d) they object to the
extent that penalties are automatically disallowed; (e) they object
to the discharge provisions to the extent that they discharge debts
described in Bankruptcy Code section 1141(d)(6); and (f) they
object to the Amended Plan to the extent that the Amended Plan bars
the IRS from amending timely filed proofs of claim for any reason
in accordance with applicable bankruptcy law. Each of these
objections has been addressed by the Debtors in the proposed
Confirmation Order.

A full-text copy of Judge Walrath's Plan Confirmation Order is
available at http://bankrupt.com/misc/ANGplanord1008.pdf

                        About Allied Nevada

Allied Nevada Gold Corp. ("ANV"), a Delaware corporation, is a
publicly traded U.S.-based gold and silver producer engaged in
mining, developing and exploring properties in the State of
Nevada.

ANV was spun off from Vista Gold Corp. in 2006 and began operations
in May 2007.  Nevada-based mining properties acquired from Vista
include the Hycroft Mine, an open-pit heap leach operation located
54 miles west of Winnemucca, Nevada.  ANV controls 75 exploration
properties throughout Nevada as of Dec. 31, 2014.

On March 10, 2015, ANV and 13 affiliated debtors each filed a
voluntary petition for relief under Chapter 11 of the U.S.
Bankruptcy Code in the United States Bankruptcy Court for the
District of Delaware.  The cases are jointly administered under
Lead Case No. 15-10503.  The cases are assigned to Judge Mary F.
Walrath.

The Debtors have tapped Blank Rome LLP and Akin Gump Strauss Hauer
& Feld LLP as attorneys; FTI Consulting Inc. as financial advisor;
Moelis & Company as financial advisor; and Prime Clerk LLC as
claims and noticing agent.

ANV disclosed $941 million in total assets and $664 million in
total debt as of Dec. 31, 2014.


ALONSO & CARUS: Creditors' Panel Opposes Payment Bid
----------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of Alonso & Carus Iron Works, Inc., challenged a request by
the Debtor to pay a pre-petition claim of Induchem Services, Inc.

The Committee said the Debtor filed the Payment Motion under the
guise that the relief sought in the motion was time sensitive.  The
purported urgency for the relief sought in the Payment Motion is
"disingenuous," according to the Committee, because, as by the
Debtor's own admission, the Debtor received a letter on May 8,
2015, from United Surety and Indemnity Company -- a company that
provides the Debtor with bonds for its construction projects --
advising the Debtor it received a claim from Induchem Services for
payment under a bond in the amount of $61,436, and requesting that
the Debtor pay the claim.  According to the Debtor, if it does not
pay Induchem, USIC will no longer provide bonds for the Debtor's
future construction projects, which will adversely affect the
feasibility of the Debtor's proposed plan of reorganization.

In its "URGENT MOTION TO PAY PRE-PETITION CLAIM OF INDUCHEM
SERVICES, INC.," the Debtor told the Court it must pay Induchem to
prevent the adverse effects to its operations and be able to obtain
the required payment and bonds from USIC, without which Debtor will
not have a feasible plan.

The Debtor pointed out that the Induchem situation is very similar
to Debtor's request to pay the Puerto Rico Power and Electric Power
Authority's pre-petition claim to avoid for USIC not issuing
payment and performance bonds in the future to Debtor, which was
granted by the Court on an emergency basis, resulting in the Debtor
been able to bid and be awarded a contract for $286,000 by PREPA
for the rehabilitation of a NPDS tank at Palo Seco Thermoelectric
plant, Toa Baja, Puerto Rico.

"Debtor has carefully examined the matters set forth herein and has
concluded that there is a true need for the dispositions on an
expedited basis, considering its pending submission of bids for
different projects, that Debtor has not created the urgency through
any lack of due diligence and has made a bona fide effort to
resolve the matter without a hearing," the Debtor's court filing
said.

The Committee, however, argued that what the Debtor fails to
explain is why -- if the payment of Induchem's claim was so urgent
-- it took the Debtor more than four months after it received the
May 8 Letter to file the Payment Motion.  The Committee said its
counsel has contacted the Debtor's professionals to verify certain
information related to the Payment Motion, including, but not
limited to, obtaining a copy of the May 8 Letter.  The Debtor's
professionals have not responded to the Committee's request for
this information as of the filing of the Committee's objection.

The Committee said the Debtor must first demonstrate that:

     -- it has sufficient cash to make the Payment,

     -- the Payment will not impact the Debtor's ability to make
        all other payments required under the Plan, which, in
        turn, would adversely impact the feasibility of the Plan,
        and

     -- it faces the risk of losing all bonding if the Payment
        is not made.

The Debtor also must confirm whether there are other parties
similarly situated to Induchem that could call on, or have called
on, the obligations under the bond provided by USIC or any other
bonding provider.

The Committee also noted that the Debtor has pretended that the
Committee does not exist since the Committee's appointment on July
14, 2015.  While the Debtor has provided the Committee with certain
documents and information related to the feasibility of the Plan,
obtaining such documents and information has been a constant
struggle.  The Debtor's professionals have refused to communicate
with the Committee's proposed lead counsel, Lowenstein Sandler LLP,
and financial advisor, GlassRatner Advisory & Capital Group LLC, on
the purported ground that the Court has not yet approved the
Committee's retention of Lowenstein and GlassRatner.

Puerto Rico Counsel to the Committee:

     Javier Vilarino, Esq.
     VILARINO & ASSOCIATES LLC
     PO Box 9022515
     San Juan, PR 00902-2515
     Telephone: 787-565-9894
     E-mail: jvilarino@vilarinolaw.com

Proposed Counsel to the Committee:

     Jeffrey D. Prol, Esq.
     LOWENSTEIN SANDLER LLP
     65 Livingston Avenue
     Roseland, NJ 07068
     Telephone: 973-597-2500
     Facsimile: 973-597-2400
     E-mail: jprol@lowenstein.com

                      About Alonso & Carus

Alonso & Carus Iron Works, Inc., sought Chapter 11 protection
(Bankr. D.P.R. Case No. 15-02250) in Old San Juan, Puerto Rico, on
March 27, 2015.  The case is assigned to Judge Enrique S. Lamoutte
Inclan.

The Catano, Puerto Rico-based debtor has filed schedules of assets
and liabilities, disclosing $23,028,113 in total assets and
$14,919,146 in total debts.

The Debtor on the Petition Date filed applications to employ
Charles A Curpill, PSC Law office, as counsel; and CPA Luis R.
Carrasquillo & Co, PSC as financial consultant.

The Official Committee of Unsecured Creditors appointed in the
Debtor's case has tapped Vilarino & Associates LLC as Puerto Rico
counsel, and Lowenstein Sandler LLP as lead counsel.  The Committee
also retained GlassRatner Advisory & Capital Group LLC, as
financial advisors.


AMERICAN ACHIEVEMENT: S&P Withdraws 'CCC+' Corporate Credit Rating
------------------------------------------------------------------
Standard & Poor's Ratings Services said that it withdrew all of its
ratings on Austin, Texas-based school memorabilia company American
Achievement Corp. (AAC), including the 'CCC+' corporate credit
rating, at the company's request.

The withdrawals follow AAC's completed refinancing of its capital
structure through a private placement and the repayment of its
outstanding revolving credit facility and $365 million of senior
secured notes.



AMERICAN APPAREL: Has Court's Nod to Obtain $90M Financing
----------------------------------------------------------
Erica Euse at Complex.com reports that the Bankruptcy Court has
approved American Apparel's motion to obtain a $90 million loan to
start the rebuilding process.

As reported by the Troubled Company Reporter on Oct. 6, 2015, the
Company, and its debtor affiliates sought permission from the
Bankruptcy Court to obtain a senior secured postpetition financing
in an aggregate principal amount of $90 million in the form of a
delayed draw term loan comprised of (i) up to $30 million in new
money and (ii) a roll-up of the Prepetition ABL Facility in an
amount of approximately $60 million.  The Debtors asserted they
urgently need financing to, among other things, meet their payroll
obligations this week to over 4,900 employees and keep their
approximately 230 stores operating.

Complex.com states that the Company will return to Bankruptcy Court
in November.  According to the report, an attorney working on the
case believes the process will go quickly and according to plan.

WWD.com relates that the chances of the Company emerging from
Chapter 11 bankruptcy are high, as long as it doesn't lose the
support of investors.  The report quoted a group of creditors as
saying, "We have made an investment in the future of American
Apparel, and believe that the Company's management is
well-positioned to drive a successful revitalization of the brand.
As partners in the restructuring effort, we are committed to
helping the Company execute its transformation strategy, keeping
jobs and operations here in America."

                    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.


AMERICAN APPAREL: Lender Thinks Ex-CEO Might Disrupt Chapter 11
---------------------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that American Apparel
creditor Standard General LP told a Delaware Chancery judge on Oct.
9, 2015, that it is concerned the bankrupt retailer's former CEO
Dov Charney could try to disrupt its reorganization, and urged the
court to move ahead in the contract dispute between the hedge fund
and the Debtor's ex-chief.

During a hearing in Wilmington, Standard General attorney Shannon
Rose Selden of DeBevoise & Plimpton LLP claimed that Charney has
already been "incredibly disruptive" in his efforts to regain
control of American Apparel, which fired him as CEO.

                      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 age


ARAMID ENTERTAINMENT: Oct. 15 Hearing on Exclusivity Extension Bid
------------------------------------------------------------------
The Hon. Sean H. Lane of the U.S. Bankruptcy Court for the Southern
District of New York will hold a hearing today, Oct. 15, 2015, at
11:00 a.m. (Eastern) at One Bowling in New York, New York, to
consider approval of the motion filed by Aramid Entertainment Fund
Limited and its debtor-affiliates to extend their exclusive periods
to:

   a) file a Chapter 11 plan until Dec. 13, 2015, and

   b) solicit acceptances of that plan through and including Feb.
13, 2015.

The Debtors' current plan filing deadline is slated to expire on
Oct. 23, 2015, and the plan solicitation deadline on Jan. 4, 2016.

The Debtors say the extension of time will ensure that they have an
opportunity to confirm and consummate a plan, or if need be, a
modified plan, before the exclusive periods expire.

                   About Aramid Entertainment

Aramid Entertainment Fund Limited has been engaged in the
businesses of providing short and medium term liquidity to
producers and distributors of film, television and other media and
entertainment content by way of loans and equity investments.

On May 7, 2014, Geoffrey Varga and Jess Shakespeare of Kinetic
Partners (Cayman) Limited were appointed under Cayman law as the
joint voluntary liquidators ("JVLs") of AEF and two affiliates.

On June 13, 2014, the JVLs authorized AEF and two affiliates to
file for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Lead
Case No. 14-11802) in Manhattan on June 13, 2014.

The Debtors have tapped James C. McCarroll, Esq., Jordan W. Siev,
Esq., Richard A. Robinson, Esq., and Michael J. Venditto, Esq. of
Reed Smith, LLP, in New York, as counsel and Kinetic Partners
(Cayman) Limited as crisis managers.

AEF estimated at least $100 million in assets and between $10
million to $50 million in liabilities.


ARIZONA LA CHOLLA: TFCU Settlement Cues Chapter 11 Case Dismissal
-----------------------------------------------------------------
The Hon. Brenda Moody Whinery of the U.S. Bankruptcy Court for the
District of Arizona dismissed the Chapter 11 bankruptcy case of
Arizona La Cholla LLC.

The Debtor said the motion to dismiss was conditioned upon the
Court's approval of a settlement agreement between Debtor and its
primary creditor, Tucson Federal Credit Union ("TFCU").  That
condition was satisfied by order approving settlement entered June
19, 2015.  Furthermore, the settlement was conditioned upon
Debtor's conveying two parcels of real estate.

As reported by the Troubled Company Reporter on July 7, 2015, Judge
Whinery approved on June 19, 2015, certain settlement agreement
dated May 13, 2015, among Arizona La Cholla, L.L.C., Steven L.
Nannini, and Tucson Federal Credit Union.

The Debtor asked the Court to approve the settlement with its
primary creditor, TFCU, and also sought for the dismissal of its
bankruptcy case, conditioned on the Court's approval of and
completion and implementation of the settlement.

Under the settlement, the Debtor would convey two parcels of real
estate to TFCU in exchange for TFCU's releasing the Debtor from its
guaranty of a promissory note executed by Debtor's manager, Mr.
Nannini, in favor of TFCU.  Simultaneously, a related Pima County
Superior Court lawsuit filed by TFCU against Mr. Nannini would be
concluded, except for a deficiency claim by TFCU against Mr.
Nannini which would either be settled or litigated in Superior
Court as provided in the settlement.  Upon settlement approval and
implementation by completion of the conveyance of the combined
properties, the bankruptcy case would be dismissed.

On June 19, the Court found that all parties who were entitled to
notice of the Debtor's May 14, 2015 motion to approve the
settlement either received notice or waived notice and consented to
the motion.  The Court further found that the Debtor showed cause
to direct that no notice of its amended motion -- a copy of which
is available for free at http://is.gd/kNGWrf-- to approve the
settlement be sent.  The Debtor amended its motion on June 14,
2015, to correct omissions in notice regarding the prior motion.
The Debtor requested that TFCU consent to an extension of time for
the Debtor to complete the conveyance of certain real property to
TFCU.  The Debtor simultaneously requested the Court to direct that
notice not be sent.  

The settlement agreement provides that it is void if the Debtor
does not by June 22, 2015, authorize the escrow agent to record a
certain deed.  No person will be prejudiced by granting the motion
to approve settlement agreement and requiring further notice will
result in the failure of the settlement to the detriment of the
Debtor and its primary creditor.  No further notice to any party of
the Debtor's motion to approve settlement is required.

No party has filed an objection to the motion, according to
certificates filed by the Debtor's counsel on June 9 and 12.

                  About Arizona La Cholla

Arizona La Cholla, L.L.C., filed a Chapter 11 bankruptcy petition
(Bankr. D. Ariz. Case No. 14-10254) on July 2, 2014.  Steven L.
Nannini signed the petition as manager.  The Debtor estimated
assets and liabilities of at least $10 million.  Altfeld & Battaile
P.C. serves as the Debtor's counsel.


ATLANTIC & PACIFIC: May Assume Assessment Tech Consulting Deal
--------------------------------------------------------------
The Great Atlantic & Pacific Tea Company, Inc., and certain of its
affiliates, sought and obtained authority from the Bankruptcy Court
to assume a Real Property Tax Consulting Services Agreement, dated
February 1, 2011, with Assessment Technologies, Ltd.

Bankruptcy Judge Robert D. Drain noted, however, that
notwithstanding entry of the Court's Order, nothing shall create,
nor is intended to create, any rights in favor of or enhance the
status of any claim held by, any party.

Pursuant to the Agreement, the firm will be paid the following fees
for each tax year:

     Tier I   -- Uncontested -- 25% of the Net Tax Savings for
                 the first $1,200,000 in Tax Savings

                 Consultant will be paid 25% of the Net Tax
                 Savings from the Tax Savings up to and
                 including the first $1,200,000 in Tax Savings
                 for a Tax Year, generated from any and all
                 Uncontested local, state or federal remedies.

     Tier II  -- Uncontested -- 30% of the Net Tax Savings in
                 excess of $1,200,000

                 Consultant will be paid 30% of the Net Tax
                 Savings from the Tax Savings in excess of
                 $1,200,000 in Tax Savings for a Tax Year,
                 generated from any and all Uncontested local,
                 state or federal remedies.

     Tier III -- Uncontested -- 35% of the Net Tax Savings for
                 any and all Contested Tax Savings

                 Consultant will be paid 35% of the Net Tax
                 Savings generated from any and all Contested
                 local, state or federal remedy or process,
                 whether administrative, quasi-judicial or
                 judicial in a Tax Year.

The term "Net Tax Savings" means the balance of Tax Savings that
remains after deducting for Reimbursable Expenses.

                     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 POWER: Moody's Raises CFR to B1, Outlook Stable
--------------------------------------------------------
Moody's Investors Service upgraded Atlantic Power Corporation's
corporate family rating to B1, from B2, to reflect the considerable
amount of debt reduction ($310 million) achieved to date in 2015
using proceeds from the sale of its wind portfolio. The upgrade
also reflects the large reduction in corporate overhead and drastic
dividend cuts that have taken place over the past few years, both
of which we consider credit positive. Atlantic Power Limited
Partnership's (APLP) Ba3 Term Loan rating remains unchanged.  The
rating outlook is stable.

RATING RATIONALE

Atlantic Power is a relatively small independent power producer
with about 1,505 MW of net generation capacity.  The company
generates stable, contracted cash flows from 23 projects located
across the US and Canada.  Most of the projects have been existence
for more than a decade and their aggregate contracted cash flow is
expected to decline somewhat over the next few years as the initial
terms of their power purchase agreements (PPAs) expire, with a more
substantial drop off starting in 2023.  The company is highly
leveraged against its cash flows with CFO Pre-WC (cash flow from
operation pre-working capital) to debt projected to be around 9% in
2016 and rising to 11% in 2017 due to a combination of higher cash
flow and a lower debt balance.  APLP's term loan, which is rated
one notch above the CFR at Ba3, benefits from a security interest
in most of the projects and a 50% cash flow sweep.

Liquidity

Atlantic Power has good liquidity to meet the needs of its
operations and debt service obligations.  The company is expected
to generate positive free cash flow after dividends and mandatory
debt amortization.  Atlantic Power has access to a $210 million
revolving credit facility and will maintain a minimum unrestricted
cash balance of about $70 million.  Atlantic Power's next bond
maturity is in 2017, when about $115 million of convertible debt
will become due at the holding company.

Rating Outlook

The stable outlook reflects the reliability and consistency of the
contracted cash flows from its portfolio of 23 power projects
coupled with the expected declining debt balance due to debt
amortization at APLP as well as at some of the projects.

What Could Change the Rating -- UP

Upward rating pressure could result from a CFO pre-W/C to debt
ratio rising to the mid to high teens range on a sustained basis.

What Could Change the Rating -- DOWN

Atlantic Power could be downgraded if cash flow deteriorates and
the CFO pre-W/C to debt ratio falls below 10% or the company finds
itself in a cash flow deficit position after meeting its debt
service and paying a common dividend.

The principal methodology used in these ratings was Unregulated
Utilities and Unregulated Power Companies published in October
2014.



BATTLE CREEK: Taps Eric R. Robbins as Water Rights Consultant
-------------------------------------------------------------
Battle Creek Conservation Ventures LLC seeks authority from the
U.S. Bankruptcy Court for the Central District of California to
employ Eric R. Robbins as special consultant with respect to
certain water rights which may be held by the Debtor in connection
with the real property commonly known as Jellys Ferry Road, in Red
Bluff, California.

Mr. Robbins will assist the Debtor in investigation the extent,
retention and transferability of any water rights that run with the
property, well as determining the value and marketability of the
rights.

According to the Debtor, the appointment of Mr. Robbins will enable
it to identify a potentially valuable asset for the benefit of
creditors.

Mr. Robins will be compensated at an hourly rate of $345.

Mr. Robbins will not be seeking payment from the Debtor's estate as
compensation for its services.  Mr. Robbins will be paid from
non-estate, general partnership funds and payment thereof will not
require Court's further approval.

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

                About Battle Creek Conservation

Battle Creek Conservation Ventures, LLC, commenced a Chapter 11
bankruptcy case (Bankr. C.D. Cal. Case No. 15-11683) on May 13,
2015.  Judge Maureen Tighe presides over the case.  The Debtor
estimated assets of $11 million and total liabilities of $9.3
million.


BATTLE CREEK: Trustee Defends Bid to Dismiss Chapter 11 Case
------------------------------------------------------------
Charles A. Orwick, III, trustee of the Charles A. Orwick, III,
Trust of 2001, replied to the opposition by Battle Creek
Conservation Ventures, LLC, to the motion to dismiss the case,
stating that, among other things:

   1. to date, the voluntary petition, schedules and statements
have not been supplemented or amended; and

   2. the receiver's stated position has been consistent since the
beginning of the case, to obtain an appraisal of the real property
as the appraisal is crucial to determining the direction of the
case.  

According to Mr. Orwick, the Receiver's actions, however, do not
support his stated position but instead have shown a track record
of tardiness and delay at movant's expense.  Receiver has been in
sole control of the Debtor for almost two years and the SARE
bankruptcy case has been pending for over four months during which
time virtually nothing about Debtor has changed yet professional
fees continue to accumulate, Mr. Orwick said.

As reported by The Troubled Company Reporter on Sept. 24, 2015, Mr.
Orwick asked the Court to dismiss the Debtor's case.  The trustee
asserted that there is ample cause under Section 1112(b) of the
Bankruptcy Code to dismiss the Single Asset Real Estate case,
noting that there has been no plan of reorganization
proposed, the Debtor has failed to seek approval to employ an
appraiser or obtain an appraisal of the Real Property, and there is
no chance or reorganization of the Debtor.  In the alternative, the
Trustee asks the Court convert the Debtor's Chapter 11 case to a
case under Chapter 7, whichever is in the best interests of
creditors and the estate, for cause.

The Debtor, in response, argued that there is no good cause for
dismissal or conversion of its Chapter 11 case, maintaining that
the estate has been properly managed and there is a strong
likelihood that the case will result in a feasible confirmed plan
for the benefit of all creditors and interested parties.

James R. Felton, the state court-appointed receiver for the Debtor,
stated, in support of the Debtor's objection, that "I do know that
there is enough evidence to suggest that an accounting needs to be
done so that the Receivership estate can determine who invested
what."

                About Battle Creek Conservation

Battle Creek Conservation Ventures, LLC, commenced a Chapter 11
bankruptcy case (Bankr. C.D. Cal. Case No. 15-11683) on May 13,
2015.  Judge Maureen Tighe presides over the case.  The Debtor
estimated assets of $11 million and total liabilities of $9.3
million.


BERNARD L. MADOFF: Investor Looking to Hold E&Y Liable for Losses
-----------------------------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reported that Ernst & Young failed to serve as a gatekeeper for a
Washington investment firm that sunk millions of dollars into
Bernard Madoff's investment firm and should be held liable for its
losses, the firm's lawyer told a jury on Oct. 14.

"I'm going to prove to you that Ernst & Young had a job.  I'm going
to prove to you that Ernst & Young didn't do their job," said
Steven W. Thomas, a lawyer representing FutureSelect Portfolio
Management Inc., 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.


BR ENTERPRISES: Plan Exclusivity Period Extended Thru Nov. 25
-------------------------------------------------------------
The Hon. Michael S. McManus of the United States Bankruptcy Court
for the Eastern District of California extended the exclusive
period of BR Enterprises to confirm of a plan of reorganization to
Nov. 25, 2015.

Judge McManus also extended the exclusive period for the Debtor to
obtain acceptance of a plan through Nov. 25, 2015.

As reported by the Troubled Company Reporter on Aug. 25, 2015, the
Debtor explained that its estate is not an insubstantial one,
involving the management of the 3,100 acre Ranch in addition to
other assets, and partial liquidation thereof.  A significant asset
-- the $4.2 million receivable (enough to pay all Debtor's
estimated liabilities in full) -- is tied up in the Shasta
Enterprises bankruptcy, in which no plan has yet been proposed,
causing uncertainty when it came to projecting cash flow.

According to the Debtor, the new protocols and cost-saving measures
had to be evaluated and implemented which resulted in some
necessary delays in formulating a reorganization plan, but also in
the positive cash flow referenced in the latest monthly operating
report.  The Debtor's new management required extra time to observe
and evaluate Debtor's operations, along with the Shasta Enterprises
liquidation before it could formulate its own plan -- eventually
assuming for purposes of cash flow analysis that there would be no
dividend paid by the Shasta Enterprises Trustee during the sixty
month "Plan Term" proposed by Debtor.

The Debtor told the Court that its case is still in its infancy.
The Debtor is paying all post-petition obligations as they come due
and has substantial net funds on deposit to fund the plan.  The
Debtor has been reluctant to negotiate with creditors unless and
until a Disclosure Statement has been approved.  The Debtor is
current on all operating reports and other disclosure required
under the Bankruptcy Code and has been working cooperatively with
its creditors on operational matters.  The Debtor assures the Court
that it is not seeking the extension to pressure creditors to
submit to any demands.  Rather, the goal is to minimize expenses to
the estate and to streamline the confirmation process.

                       About BR Enterprises

BR Enterprises, a California Partnership, sought Chapter 11
protection (Bankr. E.D. Cal. Case No. 15-21575) in Sacramento,
California, on Feb. 27, 2015, without stating a reason.

BR Enterprises owns 20.17 acres of undeveloped ranch located at
East of Interstate 5 and South of Lake California Drive, 2600 acres
of undeveloped ranch property located in Cottonwood California in
Tehama County; and 278 acres of contiguous parcels along HWY I-5.
The properties are valued at $10.5 million, according to the
schedules.

Antonio Rodriguez, III, the managing partner, signed the petition.

The case is assigned to Judge Michael S. McManus.

According to the docket, the deadline for filing claims by
governmental entities is Aug. 26, 2015.

George C. Hollister, Esq., at Hollister Law Corporation, in
Sacramento, serves as the Debtor's counsel.

The Debtor, in its amended schedules, disclosed total assets of
$14,422,042 and total liabilities of $4,361,491.  The Debtor
disclosed total assets of $14,422,236 and total liabilities of
$6,961,492 in a prior iteration of the schedules.

A related entity, Shasta Enterprises, sought bankruptcy protection
(Case No. 14-30833) on Oct. 31, 2014.


CLEARWATER SEAFOODS: S&P Affirms 'B+' CCR, Outlook Stable
---------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
long-term corporate credit rating on Halifax, N.S.-based Clearwater
Seafoods L.P.  The outlook is stable.

The affirmation follows Clearwater's announcement that it proposed
to acquire Macduff Shellfish Group for C$197 million.

At the same time, Standard & Poor's revised financial risk profile
to "aggressive" from "significant" and removed its one-notch
negative financial policy modifier to the anchor score.  This
reflects S&P's view that Clearwater is executing its strategy of
using debt-funded acquisition to build capacity for further growth
initiatives, with the aim of reducing leverage to below 4x.

Standard & Poor's also affirmed its 'BB' issue-level rating on the
company's senior secured bank debt, indicating S&P's expectation
that the growth in enterprise value through acquisitions and new
vessels is consistent with Clearwater's proposed increased debt
levels.  The '1' recovery rating on the debt is unchanged, and
indicates S&P's expectation of very high (90%-100%) recovery in the
event of default.

"We base the affirmation on our expectation that the Macduff
acquisition will increase Clearwater's leverage beyond our
threshold of 5x," said Standard & Poor's credit analyst Donald
Marleau.  "However, we believe the company will maintain solid cash
flow generation and deleverage over the next year through EBITDA
growth and modest debt repayments," Mr. Marleau added.

S&P's "weak" business risk assessment reflects Clearwater's narrow
product and geographic focus, sourcing the majority of its
commodity-oriented seafood from eastern Canadian commercial
fisheries.  S&P believes the company's position as the largest
holder of shellfish quota in Canada and proven record of operating
in the highly regulated seafood industry partially mitigate this.

The "aggressive" financial risk profile reflects S&P's expectation
that the Macduff acquisition will weaken Clearwater's credit
protection measures, with pro forma adjusted debt-to-EBITDA above
5.x for the next year, exceeding S&P's threshold for rating
pressure.  However, S&P believes the company's improving free
operating cash flow should enable it to repay debt and deleverage
to below 5x by 2016, consistent with an "aggressive" financial risk
profile.

The stable outlook on Clearwater reflects Standard & Poor's
expectation that adjusted debt to EBITDA will increase to about 5x
and EBITDA interest coverage will drop to about 3x in 2016, as the
company integrates Macduff and aims to enhance its position in
premium shellfish and seafood.  As such, Clearwater's credit
measures are near S&P's threshold for a downgrade, providing almost
no buffer at the rating for weaker earnings or more debt.

S&P could lower the ratings if debt-to-EBITDA approached 6x or if
EBITDA interest coverage dropped toward 2x, which S&P believes
could occur because of weak earnings and cash flow from market
conditions, operating disruptions, or integration problems.  S&P
estimates that a 200 basis-point decline in EBITDA margins would
slow the pace of debt reduction and push credit measures toward our
thresholds for a one-notch downgrade.

S&P is unlikely to raise the ratings in the next two years,
considering elevated leverage and Macduff's integration risks. That
said, S&P could consider an upgrade if the company demonstrates a
more conservative financial policy by maintaining debt leverage of
about 3x and EBITDA interest coverage above 6x, while preserving
its market position and generating steady operating performance.



COLT HOLDING: Claims Bar Date Set for November 20
-------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware set Nov. 20,
2015, at 5:00 p.m. (EST) as the deadline for person to file proofs
of claim against Colt Holding Company LLC and its
debtor-affiliates.

The Court also set Dec. 11, 2015, at 5:00 p.m. (EST) as the last
day for governmental units to file their claims against the
Debtors.

All proofs of claim must be filed to:

  Colt Claims Processing
  c/o Kurztman Carson Consultants LLC
  2335 Alaska Avenue
  El Segundo, CA 90245

                      About Colt Defense

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

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

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

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

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

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

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

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

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

The U.S. Trustee for Region 3 appointed five creditors of Colt
Defense Inc. and its affiliates to serve on the official committee
of unsecured creditors.  MagPul Industries Corp. has resigned from
the committee leaving only four Committee members.

                           *     *     *

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

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

Colt Defense LLC on Oct. 9 disclosed that it has taken a
significant step toward completion of its restructuring and exit
from chapter 11 by filing a plan of reorganization and a disclosure
statement with the U.S. Bankruptcy Court for the District of
Delaware.

The Plan and disclosure statement are consistent with the terms of
a restructuring support agreement among Colt, holders of over 60%
of Colt's outstanding 8.75% Senior Notes due 2017, Sciens Capital,
and the landlord under the lease for the Company's West Hartford,
Connecticut manufacturing facility and corporate headquarters.
Under the Plan, Colt will receive $50 million in new capital from
certain of the Supporting Noteholders and Sciens Capital, which
will allow the Company to execute its business plan and emerge from
chapter 11.  The Plan secures options for the Company to continue
operations in West Hartford, Connecticut on a long-term basis.  The
Plan and disclosure statement also include the terms on which the
Company's secured lenders, including Morgan Stanley Senior Funding,
Inc., have agreed to refinance their prepetition and post-petition
loans through new secured exit facilities to be issued on the Plan
effective date.


COMPREHENSIVE OUTPATIENT: Closes After Case Converted to Ch. 7
--------------------------------------------------------------
Alana Melanson at Lowellsun.com reports that Comprehensive
Outpatient Services, Inc., closed all four of its counseling
centers in Lowell, Chelmsford, Fitchburg and Newton on Sept. 30,
2015, after Judge Henry J. Boroff, who presides over the case,
granted the conversion of the Company's bankruptcy to Chapter 7
liquidation from the previously requested Chapter 11, citing "the
pre and postpetition lack of financial competence of the debtor's
management and apparent inability to make ongoing payments to its
employees in the regular course of its business."

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Mass. Case No. 15-13575) on Sept. 16, 2015, estimating its assets
at between $500,000 and $1 million and liabilities at between $1
million and $10 million.  The petition was signed by Dr. Bruce
Mermelstein, Ed. D., president.

Lowellsun.com relates that Joseph Baldiga, Esq., at Mirick
O'Connell, the bankruptcy trustee for the case, found that the
Company had no funds to continue operating and filed on Sept. 29,
2015, a motion to convert the Chapter 11 case to Chapter 7 or
immediately dismiss the case, saying that the Company could not
continue to operate under Chapter 11 because "each day of
operations will result in a larger administrative insolvency."
According to the report, among reasons Mr. Baldiga cited for cause
for case conversion to Chapter 7 include: (i) no reasonable
likelihood of rehabilitation, (ii) gross mismanagement of the
estate, (iv) unauthorized use of cash collateral substantially
harmful to one or more creditors, (v) unexcused failure to satisfy
timely filing or reporting required under Chapter 11, and (vi)
failure to timely pay taxes or file tax returns after the date of
order for relief.

Lowellsun.com relates that the state Department of Mental Health
has been asked to "intervene to facilitate an expeditious transfer
of the care" of the patients to other qualified mental-health
professionals.

Timothy M. Mauser, Esq., at The Law Offices of Timothy Mauser
serves as the Company's bankruptcy counsel.

Comprehensive Outpatient Services, Inc. -- dba The Center for
Family Development, Charles River Counseling, Stoney Brook
Counseling Center, Riverfront Counseling Center -- is headquartered
in Newton Upper Falls, Massachusetts.  The Company, in operation
since 1990, was managed by owner Dr. Bruce Mermelstein.


CORNERSTONE HOMES: Can Use Cash Collateral Until Nov. 30
--------------------------------------------------------
Cornerstone Homes Inc. received interim approval to use the cash
collateral of its pre-bankruptcy lenders until Nov. 30, 2015.

The order, issued by U.S. Bankruptcy Judge Paul Warren, allowed the
company to use the cash collateral of First Citizens National Bank,
Community Preservation Corp. and The Elmira Saving Bank, FSB.

In exchange, the lenders will receive monthly payments from
Cornerstone Homes as "adequate protection" against any diminution
in the value of their cash collateral.

First Citizens and Elmira Saving Bank will get monthly payments of
$25,000 and $3,390, respectively.  

Meanwhile, Community Preservation will get $47,000 per month, plus
an additional monthly payment of $7,791 for real estate taxes,
according to Judge Warren's Oct. 8 order, which is the third
interim order issued by the bankruptcy judge.

Cornerstone Homes first obtained interim approval to use the
lenders' cash collateral on July 27.  On August 13, the bankruptcy
judge issued another order that allowed the company to use the
collateral until Sept. 30.

The next court hearing is scheduled for Nov. 17.

                      About Cornerstone Homes

Cornerstone Homes Inc. is based in Corning, New York and is engaged
in the business of buying, selling and leasing single family homes
in the State of New York, with such properties primarily located in
the South Central and South Western portions of the State.

Cornerstone Homes Inc. filed a Chapter 11 petition (Bankr. W.D.N.Y.
Case No. 13-21103) on July 15, 2013, in Rochester alongside a
reorganization plan already accepted by 96 percent of unsecured
creditors' claims.

The Debtor disclosed assets of $18.6 million and liabilities of
$36.2 million.  Four secured lenders with $21.8 million in claims
are to be paid in full under the plan.  Unsecured creditors --
chiefly noteholders with $14.5 million in claims -- will have a 7
percent recovery.

Judge Paul R. Warren presides over the case.  Curtiss Alan Johnson,
Esq., and David L. Rasmussen, Esq., at Davidson Fink, LLP, in
Rochester, N.Y., serve as the Debtor's counsel.  The Debtor has
tapped GAR Associates to appraise a selection of its properties to
support the Debtor's liquidation analysis.

The Official Committee of Unsecured Creditors is represented by
Gregory J. Mascitti, Esq., at LeClairRyan PC.  The Committee
retained Getzler Henrich & Associates LLC as financial advisor.

Cornerstone Homes Inc. delivered to the Bankruptcy Court a First
Amended Plan of Reorganization and explanatory Disclosure Statement
on Jan. 3, 2014.  The Amended Plan supersedes the Plan Cornerstone
prepared prior to filing for bankruptcy.  The Debtor intends to
liquidate properties over a period of time, so as to achieve
maximum recovery for the creditors while avoiding a deleterious
effect on the housing market.  The Plan provides for a distribution
of $1 million as an Unsecured Distribution Amount.  

Owner David Fleet will pledge up to $1 million to fund
distributions under the Plan.  It also provides for the
distribution of the stock in the Reorganized Debtor to holders of
Allowed Unsecured Noteholder Claims under Class 5.  The Class 5
Claimants are expected to receive 7% plus distribution of stock on
the Distribution Date.  The Claimants are impaired and entitled to
vote on the Plan.

No hearing was slated to consider the Amended Plan documents.
Instead, the Court accepted the request of the Committee to appoint
a Chapter 11 trustee to replace management.  The Court approved the
appointment of Michael H. Arnold, Esq., as Chapter 11 trustee.  He
is represented by his law firm, Place and Arnold as his counsel.

Michael H. Arnold, Chapter 11 trustee, is represented by the firm
of Place and Arnold.  LeClairRyan and Barclay Damon LLP serve as
his special counsel.


COYNE INTERNATIONAL: Proposes $500K Bonuses to Key Employees
------------------------------------------------------------
Coyne International Enterprises Corp. seeks authority from the
United States Bankruptcy Court for Northern District of New York to
implement a key employee incentive program.

William Henrich, who is the sole director of the Debtor, in
conjunction with SSG and Cohn Reznick LLC, its financial advisor,
determined that the Debtor's three most senior officers -- Mark
Samson, its CEO, Alexander Pobedinsky, its Vice President and
General Counsel, and Jennifer Collins-Clemons, its Chief Financial
Officer -- are essential to the successful consummation of the Sale
Transactions.  In addition to maintaining their regular
responsibilities related to the Debtor's operations, during the
past year the Key Employees assumed added responsibilities in
connection with the Debtor's restructuring and the marketing of the
Debtor's assets, which additional responsibilities will continue to
require intensive labors throughout the Chapter 11.  Accordingly,
the Independent Director determined that it was appropriate for the
Debtor to adopt a key employee incentive plan.

The proposed KEIP is a performance-based incentive plan that
provides increasing levels of incentive payments to the Key
Employees based upon metrics, which include achieving sale targets
and asset sales proceeds from consummation of the sale
transactions.  The aggregate amount of the payments increases as
the Debtor's achievement of the targets increases, thus aligning
the incentives of the Key Employees with the interests of the
Debtor's creditors and estate.

The maximum aggregate payments proposed to be paid to all Key
Employees is $500,000.  In addition, each Key Employee must remain
employed with the Debtor until all of the Sale Transactions are
closed, including through any transition services agreement.

Coyne International Enterprises Corp. is represented by:

          Robert L. Rattet, Esq.
          Stephen B. Selbst, Esq.
          Hanh V. Huynh, Esq.
          HERRICK, FEINSTEIN LLP
          2 Park Avenue
          New York, NY 10016
          Tel: (212) 592-1400
          Fax: (212) 592-1500
          Email: rrattet@herrick.com
                 sselbst@herrick.com
                 hhuynh@herrick.com

                          About Coyne International

Coyne International Enterprises Corp. filed a Chapter 11 bankruptcy
petition (Bankr. N.D.N.Y. Case No. 15-31160) on July 31, 2015.  The
petition was signed by Mark Samson as CEO.  

Herrick Feinstein LLP serves as the Debtor's general counsel.
Phillips Lytle LLP acts as the Debtor's local bankruptcy counsel.
Cohnreznick LLP is the Debtor's financial advisor.  SSG Capital
Advisors LLC is the Debtor's investment banker.  Rust Omni serves
the Debtor as claims and administrative agent.  Raab, Sturm &
Ganchrow, LLP acts as labor counsel to the Debtor.  Harbridge
Consulting Group, LLC serves as the Debtor's pension consultant.

Beveridge & Diamond PC is the Debtor's environmental counsel.  GZA
Geoenvironmental, Inc. represents the Debtor as environmental
consultant.


D & R HOLDINGS: Case Summary & 5 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: D & R Holdings, LLC
        250 Fluid Drive
        McDonough, GA 30253

Case No.: 15-69767

Chapter 11 Petition Date: October 13, 2015

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

Debtor's Counsel: Michael D. Robl, Esq.
                  THE SPEARS & ROBL LAW FIRM, LLC
                  Suite 250
                  3754 LaVista Road
                  Tucker, GA 30084
                  Tel: 404-373-5153
                  Fax: 404-537-1761
                  Email: mdrobl@tsrlaw.com

Total Assets: $975,000

Total Liabilities: $1.23 million

The petition was signed by David E. Perry, CEO.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/ganb15-69767.pdf


DASHLEY REALTY: Case Summary & 3 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Dashley Realty, Inc.
        150 Cortlandt Street
        Sleepy Hollow, NY 10591

Case No.: 15-23503

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: October 14, 2015

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

Judge: Hon. Robert D. Drain

Debtor's Counsel: Bruce R. Alter, Esq.
                  ALTER & BRESCIA, LLP
                  550 Mamaroneck Avenue
                  Harrison, NY 10528
                  Tel: (914) 670-0030
                  Fax: (914) 670-0031
                  Email: altergold@aol.com

Total Assets: $3.1 million

Total Liabilities: $3 million

The petition was signed by Cirilo Rodgriguez, president.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/nysb15-23503.pdf


DETROIT DDA: Fitch Affirms BB+ Ratings on 1998 Tax Increment Bonds
------------------------------------------------------------------
Fitch Ratings has affirmed its ratings on the following Detroit
Downtown Development Authority, Michigan (the DDA) bonds:

-- $44,525,000 tax increment refunding bonds (Development Area
    No. 1 projects), series 1998A, at 'BB+';

-- $16,055,000 tax increment bonds (Development Area No. 1
    projects), series 1998B (taxable), at 'BB+'.

The Rating Outlook is Stable.

SECURITY

Bonds are backed by a pledge of tax increment revenues captured by
Development Area No. 1 net of those captured for school district
purposes (school capture). The debt service reserve (DSR) is funded
with a surety policy.

KEY RATING DRIVERS

LIMITED MARGINS: The below investment-grade ratings reflect thin
coverage from a source of pledged revenue that has declined
significantly in the past few fiscal years, although modest growth
was registered in fiscals 2014 and 2015.

HIGH TAXPAYER CONCENTRATION: The district encompasses the core of
downtown Detroit, including many key commercial assets. General
Motors Co. (GM) represents a very high 21% of taxable value (TV)
for fiscal 2015, and the top 10 taxpayers, representing 55% of the
total, are largely related to the automobile industry.

EXCEPTIONALLY WEAK ECONOMIC INDICATORS: The city's income,
employment, and demographic indicators continue to be among the
weakest in the U.S. Many recent data points indicate continued
erosion.

IMPROVED AUTO MANUFACTURING PROSPECTS: The health of the U.S.
automobile industry continues to improve, as evidenced by Fitch's
recent upgrade (June 2015) to the Issuer Default Rating (IDR) of GM
and continued Positive Outlook on the IDR of Ford Motor Co.
(Ford).

DDA INSULATED FROM DETROIT: Fitch believes that the DDA is
adequately insulated from Detroit's financial performance going
forward. The city's approved plan of adjustment does not include
DDA debt and respects the definition of special revenues under
Chapter 9 of the U.S. Bankruptcy Code.

RATING SENSITIVITIES

CHANGES IN TAX BASE: Fitch expects that the DDA's captured value
(CV) will remain stable, since large appeals have been settled.
However, CV growth leading to materially improved coverage could
result in an upgrade.

CREDIT PROFILE

The DDA was formed in 1976 to promote economic development in
downtown Detroit. Development Area No. 1 comprises 615 acres,
roughly coterminous with the downtown business district and
represents about 7% of the city's TV. In addition to the GM-owned
Renaissance Center, the district includes one of the city's three
casinos, stadiums for the Detroit Lions and Detroit Tigers, and
development along the city's waterfront. CV is a moderate 131% of
the base, exposing pledged revenue to a large degree of volatility
for a given decline in TV absent a change in tax rates.

WEAK COVERAGE FROM PLEDGED REVENUES

Coverage from pledged revenue remains very thin at an estimated
1.21x maximum annual debt service (MADS) in fiscal 2015. Pledged
revenue rebounded by a modest 1.1% in fiscal 2014 following a
cumulative 19% decline between fiscal 2011 and fiscal 2013.
Declines were largely due to an appeal by GM, which has been
settled. Pledged revenues covered senior lien debt service by a
slim 1.16x in fiscal 2013 before notching up to 1.18x in fiscal
2014.

Fitch does not expect CV or pledged revenue to decline
significantly in the near term, but incorporates into the rating
the potential for modest further erosion. The majority of the DDA's
tax increment revenues are remitted by the city with a smaller
portion passing through from the county.

TAX BASE CONCENTRATION AND WEAK ECONOMIC ENVIRONMENT

The rating also reflects the project area's high tax base
concentration, with the 10 largest taxpayers making up 55% of TV
and more than 95% of CV in 2015. In addition to GM, several large
taxpayers are office buildings that rely for occupancy to some
extent on the auto industry. Prospects for the industry have
improved. Fitch upgraded the IDR of GM to 'BBB' and Ford ('BBB-')
has a Positive Outlook. Additional private residential and
commercial development, including investment by Quicken Loans, a
trolley connection to Wayne State University, and construction of
an events center and surrounding mixed-use facilities by Olympia
Development, may benefit the tax base.

The city's economic indicators continue to be exceptionally weak
despite apparent auto industry improvement, including an
unemployment rate of 13.7% in June 2015 that is down from 17.7% the
year prior. The decline was driven primarily by labor-force losses
rather than employment gains. Very weak city income and poverty
figures have not yet stabilized; per capita income declines have
plateaued whereas median household income continues to decline
while the nation's improves slightly. After a 25% drop in
population from 2000-2010, recent estimates indicate a further
decline of 3.5% to 688,701 in 2012.

DEBT REDEMPTION DOES NOT ALTER SENIOR LIEN CREDIT QUALITY

The DDA increased both debt and pledged revenues to provide funds
for the construction of an events center within Development Area
No. 1 that is currently under construction. The debt was issued by
the Michigan Strategic Fund under a newly created indenture, and is
subordinate to outstanding debt. The DDA defeased about $11 million
in debt with a combination of cash on hand and reserve fund
releases, and closed the existing senior lien indenture to new
issuance.

The defeasance increased senior lien MADS coverage only slightly.
Coverage is already close to the minimum required to issue new debt
under the additional bonds test (ABT). Thus, in Fitch's view the
closure of the lien, while generally a credit positive, has minimal
impact on credit quality in this case. The incremental benefit from
the defeasance and lien closure is also offset by the replacement
of a cash-funded debt service reserve fund at the maximum allowable
by the IRS with a surety.



DIGITAL DOMAIN: Court Approves Latest Amendment to Final DIP Order
------------------------------------------------------------------
The U.S. Bankruptcy Court in Delaware on Oct. 12 approved the
latest amendment to its order that authorized DDMG Estate to use
cash collateral and obtain financing to get the company through
bankruptcy.

Pursuant to the amended final order, the lenders will forebear from
exercising their remedies until the earlier of Nov. 13, 2015, or
the occurrence of so-called "termination event."

During the forbearance period, DDMG may incur indebtedness and use
cash collateral in accordance with the court order and the
amendments.

The lenders will also provide additional funding to DDMG Estate
pursuant to the recent budget prepared by the company.  A copy of
the Oct. 12 order is available for free at http://is.gd/1Qqnji

DDMG Estate has made 23 amendments to the final order, issued on
Nov. 7, 2012, by U.S. Bankruptcy Judge Brendan Shannon.  The 23rd
amendment, which was approved on Aug. 21, gave the lenders until
Oct. 2 to forbear from exercising their remedies under the final
order.

                        About Digital Domain

Port St. Lucie, Florida-based Digital Domain Media Group, Inc.
--http://www.digitaldomain.com/-- engaged in the creation of
original content animation feature films, and development of
computer-generated imagery for feature films and trans-media
advertising primarily in the United States.

Digital Domain Media Group, Inc. and 13 affiliates sought Chapter
11 protection (Bankr. D. Del. Lead Case No. 12-12568) on Sept. 11,
2012, to sell its business for $15 million to Searchlight Capital
Partners LP, subject to higher and better offers.  The Company
disclosed assets of $205 million and liabilities totaling $214
million.

The Debtors also have sought ancillary relief in Canada, pursuant
to the Companies' Creditors Arrangement Act in the Supreme Court of
British Columbia, Vancouver Registry.

Attorneys at Pachulski Stang Ziehl & Jones serve as counsel to the
Debtors.  FTI Consulting, Inc.'s Michael Katzenstein is the chief
restructuring officer.  Kurtzman Carson Consultants LLC is the
claims and notice agent.  An official committee of unsecured
creditors appointed in the case is represented by lawyers at
Sullivan Hazeltine Allinson LLC and Brown Rudnick LLP.

At a bankruptcy auction, the principal part of the business was
purchased by a joint venture between Galloping Horse America LLC,
an affiliate of Beijing Galloping Horse Co., and an affiliate of
Reliance Capital Ltd., based in Mumbai.  The $36.7 million total
value of the contact includes $3.6 million to cure defaults on
contracts and $2.9 million in reimbursement of payroll costs. As
the result of a settlement negotiated by the unsecured creditors'
committee with secured lenders, there will be some recovery for the
committee's constituency.


DIOCESE OF GALLUP: Judge Rejects New Sale of Diocese Properties
---------------------------------------------------------------
ABI.org reported that a bankruptcy judge on Oct. 7, 2015, declined
to order a new sale of properties belonging to the Diocese of
Gallup, N.M.

In a separate report, Olivier Uyttebrouck, journal staff writer at
Albuquerque Journal reported that a bankruptcy judge declined to
order a new sale of properties belonging to the Diocese of Gallup
even though auctioneers made an "error in judgment" by turning away
a newspaper reporter and a graduate student from what had been
billed as a public auction last month in Albuquerque.

U.S. Bankruptcy Judge David T. Thuma said that ordering a new
auction could harm victims of sexual abuse by priests by reducing
the money available to settle the diocese's Chapter 11 bankruptcy
case.

Auctions held last month in Albuquerque and Phoenix netted the
diocese about $160,000 after fees were paid to real estate brokers
handling the sales.  As of June 30, legal and professional costs in
the case had mounted to more than $2.6 million.  Ordering a new
auction "would cost money," Thuma said at the end of a hearing in
Albuquerque.  "There is a risk that ordering a new auction would
harm the creditors, who are abuse victims."

Thuma scheduled the hearing last week after Elizabeth
Hardin-Burrola, a reporter for the Gallup Independent, and Meredith
Edelman, a doctoral candidate, sent him letters saying they had
been barred from a Sept. 19 auction in Albuquerque.

Thuma said that although court proceedings generally are open to
the public, "an auction is not a court proceeding.  An auctioneer
is not an officer of the court."  He also admonished the diocese's
attorneys to "err on the side of keeping this an open proceeding"
as the 2-year-old case proceeds.

The Diocese of Gallup became the ninth Roman Catholic diocese to
file for bankruptcy in 2013 in response to a growing number of
lawsuits by people alleging that as children they had been sexually
abused by clergy.  In all, 57 alleged victims of sexual abuse have
been identified as claimants in the case.

The diocese identified about three dozen properties for sale in
Arizona and New Mexico to raise money to settle the case.  Under a
plan approved by Thuma, the diocese agreed to a flat fee of
$45,000, plus 10 percent of sales prices, to real estate brokers
Tucson Realty & Trust Co. and Accelerated Marketing Group of
Newport Beach, Calif.

The two auctions in Phoenix and Albuquerque grossed a total of
about $225,000, of which $20,656 was paid to the brokers.  That
figure, combined with the $45,000 flat fee, provides the companies
with about $65,000.

Hardin-Burrola told Thuma that the auctioneer barred her and
Edelman from the auction and told them that only "qualified
bidders" were allowed to attend.  None of the documentation about
the auction indicated that members of the public could not attend,
she said.

Lori Winkelman, an attorney for the diocese, told Thuma that public
notice was provided about the auction and anyone who qualified as a
bidder on properties was allowed to attend.

"A public auction means providing notice to the public," Winkelman
said. "Anybody who wanted to bid could participate."

                 About the Diocese of Gallup, NM

The Diocese of Gallup, New Mexico, principally encompasses
American Indian reservations for seven tribes in northwestern New
Mexico and northeastern Arizona. It is the poorest diocese in the
U.S.

There are 38 active priests working in the Diocese and 27
permanent deacons also serve the Diocese along with five
seminarians.  The Diocese and its missions, schools and ministries
employ approximately 50 people, and a significant number of
additional people offer their services as volunteers.

The diocese sought bankruptcy protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. N.M. Case No. 13-bk-13676) on Nov. 12,
2013, in Albuquerque, New Mexico amid suits for sexual abuse
committed by priests.

The bishop previously said bankruptcy will be "the most merciful
and equitable way for the diocese to address its responsibility."

The abuse mostly occurred in the 1950s and early 1960s, the bishop
said.

The petition shows assets and debt both less than $1 million.



DOTS LLC: Court Approves Manor Ventures as Exclusive Agent
----------------------------------------------------------
Dots, LLC and its debtor-affiliates sought and obtained permission
from the Hon. Michael B. Kaplan of the U.S. Bankruptcy Court for
the District of New Jersey to employ Manor Ventures, LLC as
exclusive agent with respect to settlement claims recovery for the
Debtors, effective August 24, 2015.

Manor Ventures will be responsible for providing the Debtors with
services in connection with the Freight Forwarders Settlement,
including:

  -- preparing and filing any and all of Debtors' claims in the
     Freight Forwarders Settlement, communicate with the claims
     administrator and other entities as necessary to complete a
     claim or claims on behalf of the Debtors pursuant to the
     settlement.

The Debtors and Manor Ventures have agreed that Manor Ventures will
be paid a commission fee of 25% of Debtors' gross final recovery
due from any and all claims filed with respect to the Freight
Forwarders Settlement and Manor Ventures shall be responsible for
normal costs and expenses.  Manor Ventures' commission will be
calculated after deducting Manor Ventures reasonable costs from the
gross recovery in accordance with the terms of the Service
Agreement. However, Manor Ventures will not be entitled to any
compensation, or reimbursement of expenses, if the Debtors do not
recover sufficient amounts from the litigation.

Louis Teplis, managing partner at Manor Ventures, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

                         About DOTS LLC

Dots is a retailer of fashionable clothing, accessories, and
footwear for price-conscious women.  Dots provides missy and plus
size choices to fashion savvy 25 to 35 year old women at
approximately 400 retail stores throughout the Midwest, East, and
South United States.  Dots' workforce includes 3,500 individuals
in their stores, distribution center, and corporate headquarters.

Dots, LLC, and its affiliates sought bankruptcy protection under
Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No.
14-11016) on Jan. 20, 2014, to sell some or all of their assets.

Lowenstein Sandler LLP serves as counsel to the Debtors.
PricewaterhouseCoopers LLP is financial advisor and investment
banker.  Donlin, Recano & Company, Inc., is the claims and notice
agent.

As of the Petition Date, the Debtors have outstanding secured debt
owed to senior lender Salus Capital Partners, LLC, of which $14.5
million remains outstanding under a revolving facility and $16.1
million is owed under a term facility.  The Debtors also have not
less than $17 million outstanding under subordinated term loan
agreements with Irving Place Capital Partners III L.P. ("IPC") and
related entities.  Moreover, the Debtors have aggregate unsecured
debts of $47.0 million.  The Debtors disclosed $51,574,560 in
assets and $85,442,656 in liabilities as of the Chapter 11 filing.

Salus, the prepetition senior lender and the DIP lender, is
represented by Morgan, Lewis & Bockius, LLP.  The prepetition
subordinated lenders are represented by Okin Hollander & DeLuca,
LLP.

The Company has arranged to borrow $36 million to keep operating as
it reorganizes under court protection.

Otterbourg P.C. serves as counsel to the Official Committee of
Unsecured Creditors; and FTI Consulting, Inc., serves as its
financial advisor.


ECO BUILDING: Mark Zorko Quits as Director
------------------------------------------
Mark Zorko, on Oct. 6, 2015, submitted a letter to the Board of
Directors of Eco Building Products, Inc. resigning from his
position as a member of the Board.  There were no disagreements
between the Company and Mr. Zorko that led to his decision to
resign, according to a regulatory filing with the SEC.

                        About Eco Building

Vista, Calif.-based Eco Building Products is a manufacturer of
proprietary wood products treated with an eco-friendly proprietary
chemistry that protects against mold, rot, decay, termites and
fire.

As of March 31, 2015, the Company had $1.47 million in total
assets, $58.3 million in total liabilities and a $56.9 million
total stockholders' deficit.

Eco Building reported a net loss of $28.94 million on $1.46 million
of total revenue for the year ended June 30, 2014, compared to a
net loss of $24.59 million on $5.22 million of total revenue for
the year ended June 30, 2013.

Sadler, Gibb & Associates, LLC, in Salt Lake City, UT, issued a
"going concern" qualification on the consolidated financial
statements for the year ended June 30, 2014.  The independent
auditors noted that the Company has generated minimal operating
revenues, losses from operations, significant cash used in
operating activities and its viability is dependent upon its
ability to obtain future financing and successful operations.
These factors raise substantial doubt about the Company's ability
to continue as a going concern.


EL PASO CHILDREN'S: Reaches Deal with Landlord
----------------------------------------------
Kelsey Butler, writing for The Deal, reported that El Paso
Children's Hospital Corp. is set to file an updated reorganization
plan that would hand over ownership to its landlord.

According to the report, the Debtor's counsel, Patricia B. Tomasco
of Jackson Walker LLP said EPCH has been in constant settlement
negotiations with its landlord, the El Paso Hospital District, also
known as the University Medical Center of El Paso, with which it
has been battling over its El Paso medical facility.  Ms. Tomasco
said EPCH is "nearly finished with a joint plan [under which] UMC
will be sole corporate member," the report related.

                 About El Paso Children's Hospital

El Paso Children's Hospital Corporation operates the El Paso
Children's Hospital, the only not-for-profit children's hospital in
the El Paso region.  The hospital opened its doors in February
2012, features 122 private pediatric rooms, and is located at the
campus of El Paso County Hospital District dba University Medical
Center of El Paso ("UMC").

The Company sought Chapter 11 protection (Bankr. W.D. Tex. Case No.
15-30784) on May 19, 2015, following disputes with UMC.  The Debtor
has continued its operations throughout its bankruptcy case.

The case is assigned to Judge H. Christopher Mott.

The Debtor disclosed $34,907,119 in assets and $14,934,578 in
liabilities as of the Chapter 11 filing.

The Debtor tapped Jackson Walker LLP as counsel, and AP Services,
LLC ("AlixPartners"), as financial advisors.  Mark Herbers of
AlixPartners was appointed as the Debtor's Chief Executive and
Restructuring Officer.

A patient care ombudsman was appointed in this case on June 12,
2015, pursuant to which Ms. Suzanne Koenig was appointed as the
patient care ombudsman for the Debtor.

A Committee of Unsecured Creditors was formed on Sept. 1, 2015.
The Committee tapped Brinkman Portillo Ronk, APC as its counsel,
and Singer & Levick P.C. as its co-counsel.

                           *     *     *

The Court has previously denied a motion by UMC to terminate the
Debtor's exclusivity periods to propose a Chapter 11 plan.  UMC
wants to file its own Chapter 11 Plan of Reorganization for the
Debtor.

El Paso Children's Hospital has proposed a Chapter 11 plan that
offers two scenarios to achieve payment of claims.  Under Plan
Scenario A, the Debtor will enter into a transaction with a
strategic partner.  Under Plan Scenario B, control of the hospital
will be on terms proposed by UMC, subject to certain
modifications.


ELBIT IMAGING: Board OKs NIS 50 Million Notes BuyBack Program
-------------------------------------------------------------
Elbit Imaging Ltd. announced that its board of directors approved a
program to repurchase up to NIS 50 million (approximately $13
million) of Elbit's Series H Notes and Series I Notes, which are
traded on the Tel Aviv Stock Exchange.  The board has determined
that the Company will have a significant preference to the purchase
Series H Notes.  The repurchases will be made from time to time in
the open market on the Tel Aviv Stock Exchange, in privately
negotiated transactions or in a combination of the two, commencing
the date of this announcement and for a period of 12 months.  The
repurchase program does not require the Company to acquire any or
any specific amount of notes, and it may be modified, suspended,
extended or discontinued without prior notice.  Repurchases Notes
under this program depends on factors such as market conditions and
legal compliance.  Notes repurchased by the Company will be
canceled and removed from trading.

Simultaneously with this announcement and in accordance with the
loan agreement with Bank Hapoalim, the Company has repaid principal
amount of approximately NIS 10 million to Bank Hapoalim.

Ron Hadassi, chairman of Elbit commented: "In the last year and a
half, following the completion of the Company's debt arrangement,
the Company has taken multiple measures to stabilize the Company's
financial situation, including sale of several assets, equity
rounds in the medical companies, completion of the debt
restructuring in Plaza, purchase of the minority shareholdings in
the Radison Bucuresti Hotel alongside with a significant cost
saving measures in the Company's G&A expenses.  Following the
completion of these steps, Elbit turns to deal with the reduction
of its corporate leverage for the benefit of all the Company's
stake holders.  The repurchases of the Company's Notes will
decrease its corporate debt and will enable us to enhance our
assets in order to realize them in the optimal timing."

Doron Moshe, the Company's acting CEO and CFO further added:
"Elbit's Board has decided to approve the repurchase of the
Company's Notes in the amount of NIS 50 million, in order to reduce
the level of the Company's corporate debt.  The management believes
that due to the high yields of the Company's Notes, the repurchase
of the Notes is the appropriate use of the Company's free cash,
which was recently derived from the realization of its hotels in
Belgium and other assets.  This step will decrease the Company's
finance costs and will improve its financial stability."

                       About Elbit Imaging

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

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

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

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

As of June 30, 2015, the Company had NIS 2.8 billion in total
assets, NIS 2.5 billion in total liabilities and NIS 338.3 million
in shareholders' equity.


ELBIT IMAGING: Gamida Cell Has Investment Agreement with Novartis
-----------------------------------------------------------------
Elbit Imaging Ltd. announced that Gamida Cell Ltd., an indirect
Associate of the Company, has entered into agreement with Novartis
Pharma AG, which consists of the following material agreements:

At the closing of the Agreement, Novartis will invest in Gamida an
immediate amount of $5 million, in return for approximately 2.5% in
Gamida on a fully diluted basis.  Novartis will then hold
approximately 18% in Gamida on a fully diluted basis.

In addition, in the event that by the end of 2017 Gamida shall
raise the minimum remaining funding required to cover the Phase III
study of NiCord, by way of an equity investment, Novartis will
invest in Gamida, subject to certain conditions set in the
Agreement, an additional amount of up to US$ 10 million.

The closing of the Agreement is conditioned upon certain standard
conditions as described in the Agreement.

The Company holds approximately 82.7% of the share capital of Elbit
Medical Technologies Ltd. (TASE: EMTC-M) (on a fully diluted basis)
which, in turn, will hold, after the completion of the Agreement,
approximately 22.5% of the share capital in Gamida (on a fully
diluted basis).

"At this point in time, there is no certainty that the Agreement
will be completed or that the conditions for the Future Investment
will be fulfilled," the Company said in a press release.

                        About Elbit Imaging

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

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

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

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

As of June 30, 2015, the Company had NIS 2.8 billion in total
assets, NIS 2.5 billion in total liabilities and NIS 338.3 million
in shareholders' equity.


ELBIT IMAGING: Interim Injunction Hearing Moved to Oct. 18
----------------------------------------------------------
Elbit Imaging Ltd. announced that the hearing with respect to the
interim injunction for temporary remedies, originally dated
Oct. 14, 2015, has been re-scheduled by the court and will take
place on Oct. 18, 2015.

                        About Elbit Imaging

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

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

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

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

As of June 30, 2015, the Company had NIS 2.8 billion in total
assets, NIS 2.5 billion in total liabilities and NIS 338.3 million
in shareholders' equity.


ELECTRIC SERVICE OF MONTGOMERY: Case Summary & 20 Top Creditors
---------------------------------------------------------------
Debtor: Electric Service of Montgomery L.L.C.
        P.O. Box 9695
        Montgomery, AL 36108

Case No.: 15-32875

Chapter 11 Petition Date: October 13, 2015

Court: United States Bankruptcy Court
       Middle District of Alabama (Montgomery)

Debtor's Counsel: Michael A. Fritz, Sr., Esq.
                  FRITZ LAW FIRM
                  25 South Court Street, Suite 200
                  Montgomery, AL 36104
                  Tel: 334-230-9790
                  Fax: 334-230-9789
                  Email: bankruptcy@fritzlawalabama.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Daniel Starr, principal owner.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/almb15-32875.pdf


ESSAR STEEL: Moody's Lowers CFR to Caa3, Outlook Negative
---------------------------------------------------------
Moody's Investors Service downgraded Essar Steel Algoma Inc.'s
(ESA) corporate family rating and probability of default rating to
Caa3 and Caa3-PD from Caa1 and Caa1-PD respectively.  At the same
time Moody's downgraded the revolving credit facility rating to B2
from B1, the senior secured term loan facility and senior secured
notes rating to Caa1 from B2.  The rating on 1839688 Alberta ULC's
secured (third/fourth lien) notes (guaranteed by ESA and other
subsidiaries of ESA) was downgraded to Ca from Caa2.  The outlook
is negative.

ESA is owned by Essar Steel Holdings LTD and is part of the Essar
Global Group based in India.

The downgrade reflects the expected impact on ESA's performance
from the severe drop in steel prices that has dominated the steel
industry in 2015, and which in conjunction with ongoing cost
pressures, despite cost benefits from the weaker Canadian Dollar,
is contributing to ongoing operating losses at ESA.  With
hot-rolled prices averaging about US$ 472/ton through September
2015 and currently in the US$ 415/ton range, the company has
negative operating profits, which will widen in the second quarter
ended Sept. 30, 2015, from the C$28.9 million operating loss in the
first quarter ended March 31, 2015 and EBITDA (C$ 5.6 million in
the first quarter) could turn negative for the quarter.  The
downgrade also considers the weak liquidity position of the company
and lack of alternative sources absent further funds from its
parent, given the likely continued cash burn on the loss making
operations and the upcoming Nov. 15, 2015, interest payment
(USD17.8 million) on the 9.5% senior secured notes.

Downgrades:

Issuer: Essar Steel Algoma Inc.

  Corporate Family Rating, Downgraded to Caa3 from Caa1

  Probability of Default Rating, Downgraded to Caa3-PD from Caa1-
   PD

  Senior Secured Bank Credit Facility (Foreign Currency),
   Downgraded to B2 (LGD1) from B1 (LGD1)

  Senior Secured Bank Credit Facility (Foreign Currency),
   Downgraded to Caa1 (LGD2) from B2 (LGD2)

  Senior Secured Regular Bond/Debenture (Foreign Currency),
   Downgraded to Caa1 (LGD2) from B2 (LGD2)

Issuer: Essar Steel Algoma Inc.

  Outlook, Changed To Negative From Stable

Downgrades:

Issuer: 1839688 Alberta ULC

  Backed Senior Secured 3rd Lien Bond/Debenture (Foreign
   Currency), Downgraded to Ca (LGD4) from Caa2 (LGD4)

Outlook Actions:

Issuer: 1839688 Alberta ULC

  Outlook, Changed To Negative From Stable

RATINGS RATIONALE

The Caa3 CFR reflects the company's weak debt protection metrics,
the headwinds facing the steel industry as reflected by weak
capacity utilization rates, high import levels, the collapse of the
OCTG market as a result of the drop in oil prices and the collapse
in steel prices.  There is no meaningful catalyst seen for the
degree of improvement necessary to materially change ESA's
operating performance.  ESA completed a recapitalization and
refinancing of its debt in late 2014.  Nevertheless, the company
remained highly leveraged as of December 2014, with an LTM adjusted
leverage ratio (debt/EBITDA) of more than 10x.  ESA's interest
coverage ratio (EBIT/Interest Expense) was also very weak, with its
EBIT not fully covering its interest expense.  Given the steep fall
in steel prices to date in 2015, these metrics are likely to have
deteriorated further.  ESA no longer provides public financial
statements.

In November 2014, ESA completed a refinancing and recapitalization
transaction through a plan of arrangement under the Canada Business
Corporations Act.  The recapitalization included ESA's ultimate
parent, Essar Global Fund Limited and its affiliates providing
roughly $400 million in support through a combination of an equity
infusion, the conversion of existing obligations into preferred
stock and the purchase of ESA's Port of Algoma.  There is no
expectation of parental support incorporated in the rating.

The Caa3 CFR also considers the business and operating issues
facing the company in its ongoing dispute with Cliffs Natural
Resources concerning the Pellet Sale and Purchase Agreement. Cliffs
recently announced that it has terminated the Agreement and ESA has
filed for a Temporary Restraining Order.  This presents further
challenges beyond running the blast furnace as this time frame
represents the seasonal need to build inventory levels in advance
of winter weather on the Great Lakes.  The CFR also captures the
single site location and modest scale (2.5 million tons
approximately) and limited customer base.

Under Moody's loss given default methodology, the B2 rating on the
ABL revolver reflects its superior position in the capital
structure and the expectation of significant recovery given the
first priority claim on receivables and inventory among other
current assets.  The Caa1 rating on both the term loan and senior
secured notes, which are secured principally by plant, property and
equipment and other non- current assets and have a second lien on
the collateral securing the ABL revolver, reflects the weaker
position of these instruments in the debt waterfall.  The ABL
facility has a second lien on the collateral securing the term loan
and the senior secured notes.  The Ca rating on the secured
(third/fourth lien) notes reflects the subordination of these
instruments to a considerable amount of other secured debt and the
expectation of a considerable loss in value in a default scenario.

The ABL revolver, term loan and secured notes benefit from the loss
absorption capacity of ESA's secured (third/forth lien) debt, as
well as pension obligations and accounts payable.

The negative outlook reflects our expectation that industry
conditions will not materially improve over the next several months
and that ESA will continue to face liquidity pressures
Given the single site location and weak steel industry
fundamentals, upward rating movement is unlikely over the next
twelve to eighteen months.  Downward rating pressure would arise
should liquidity worsen.

The principal methodology used in these ratings was Global Steel
Industry published in October 2012.

Headquartered in Sault Ste. Marie, Ontario, Canada, ESA is an
integrated steel producer.  Approximately 80% to 85% of ESA's sales
are sheet products with plate products accounting for the balance.
For the 12 months ending December 31, 2014, ESA generated revenues
of C$1.9 billion



FOUNTAIN HILLS: Case Summary & Largest Unsecured Creditor
---------------------------------------------------------
Debtor: Fountain Hills Plaza, LLC
        PO Box 920798
        El Paso, TX 79902

Case No.: 15-12708

Chapter 11 Petition Date: October 13, 2015

Court: United States Bankruptcy Court
       New Mexico (Albuquerque)

Debtor's Counsel: Michael K Daniels, Esq.
                  MICHAEL K. DANIELS, ATTORNEY AT LAW
                  PO Box 1640
                  Albuquerque, NM 87103-1640
                  Tel: 505-246-9385
                  Fax: 505-246-9104
                  Email: mdaniels@nm.net

Total Assets: $11.3 million

Total Liabilities: $5.4 million

The petition was signed by Jason Shaffer, managing member.

The Debtor listed Ameri-Contractors, LLC as its largest unsecured
creditor holding a claim of $70,000.


FOUNTAIN HILLS: Files Schedules of Assets and Liabilities
---------------------------------------------------------
Fountain Hills Plaza, LLC, filed with the Bankruptcy Court its
schedules of assets and liabilities, disclosing:

   Name of Schedule              Assets         Liabilities
   ----------------            -----------      -----------
  A. Real Property             $11,017,000
  B. Personal Property            $245,000
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $5,352,539
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                           $70,000
                                 -----------      -----------
        TOTAL                    $11,262,000       $5,422,539

A copy of the Schedules is available for free at:

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

                       About Fountain Hills

Fountain Hills Plaza, LLC, sought Chapter 11 bankruptcy protection
(Bankr. D. N.M. Case No. 15-12708) on Oct. 13, 2015.  The petition
was signed by Jason Shaffer as managing member.  The Debtor
reported assets of $11.3 million and liabilities of $5.4 million.
Michael K Daniels, Esq. represents the Debtor as counsel.

The Debtor listed Ameri-Contractors, LLC as its largest unsecured
creditor holding a claim of $70,000.


FOUNTAIN HILLS: Hires Michael K. Daniels as Attorney
----------------------------------------------------
Fountain Hills Plaza, LLC, seeks permission from the Bankruptcy
Court to employ Michael K. Daniels, Esq., as attorney to assist it
in reorganizing under Chapter 11.

The Debtor intends to pay Mr. Daniels at the rate of $250 per hour
plus costs and gross receipts tax.

The Debtor seeks to reimburse Mr. Daniels 100% of his
advanced costs, and to pay Mr. Daniels 75% of his fees on a
monthly basis with the remaining
25% to be held pending approval of a fee application.  Mr. Daniels
will file fee applications every 180 days.

The Debtor believes Mr. Daniels represents no interest adverse to
it or its estate.

                        About Fountain Hills

Fountain Hills Plaza, LLC, sought Chapter 11 bankruptcy protection
(Bankr. D. N.M. Case No. 15-12708) on Oct. 13, 2015.  The petition
was signed by Jason Shaffer as managing member.  The Debtor
reported assets of $11.3 million and liabilities of $5.4 million.
Michael K Daniels, Esq. represents the Debtor as counsel.

The Debtor listed Ameri-Contractors, LLC as its largest unsecured
creditor holding a claim of $70,000.


GARLOCK SEALING: EJ Saad Law Firm Represents Asbestos Claimants
---------------------------------------------------------------
Matthew Andrews, an attorney of E. J. Saad Law Firm, declared in a
Rule 2019 Statement filed with the Bankruptcy Court in Charlotte,
North Carolina, that he and his firm represent several personal
injury claimants injured by asbestos or asbestos-containing
products manufactured by debtor Garlock Sealing Technologies, LLC
et al.

"The nature of the claim held by each Claimant is a personal injury
tort claim for damages claimants contended were caused by asbestos
or asbestos-containing products," Mr. Andrews said.

The firm may be reached at:

     Matthew Andrews, Esq.
     E. J. SAAD LAW FIRM
     6207 Cottage Hill Road, Suite G
     Mobile, AL 36609
     Tel: 251-660-0888

                         About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more than
a century, Garlock has been helping customers efficiently seal the
toughest process fluids in the most demanding applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D.N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.

Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in their Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel for
asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in the
Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan P.
Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his
co-counsel.

Judge George Hodges of the United States Bankruptcy Court for the
Western District of North Carolina on Jan. 10, 2014, entered an
order estimating the  liability for present and future mesothelioma
claims against Garlock Sealing at $125 million, consistent with the
positions GST put forth at trial.


GARLOCK SEALING: Rayburn Added to "Retained Counsel" Definition
---------------------------------------------------------------
Bankruptcy Judge J. Craig Whitley in Charlotte, North Carolina,
gave his stamp of approval on a stipulation and agreed order
authorizing certain retained counsel for debtor Garlock Sealing
Technologies LLC, et al., the official committee of asbestos
personal injury claimants, and the legal representative of future
asbestos claimants to retain consulting and testifying experts for
purposes of litigation.

The stipulation provides that the Debtors' bankruptcy counsel --
Rayburn Cooper & Durham P.A. -- is added to the definition of
"retained counsel".

"Retained Counsel" now consists of:

   1. For the Debtors:

      -- Robinson Bradshaw & Hinson P.A.;
      -- Schachter Harris LLP; and
      -- Rayburn Cooper

   2. For the Committee:

      -- Caplin & Drysdale, Chartered; and

   3. For the FCR:

      -- Orrick Herrington & Sutcliffe LLP

The Asbestos Committee is represented by:

     James P. Wehner, Esq.
     Caplin & Drysdale, Chartered
     One Thomas Circle. NW, Suite
     Washington, DC 20005
     Tel: (202)862-5000
     Email: jwehner@capdale.com

The FCR is represented by:

     Jonathan P. Guy, Esq.
     ORRICK HERRINGTON & SUTCLIFFE LLP
     1152 15th Street NW
     Washington, DC 20005
     Tel: (202)339-8516
     E-mail: jguy@orrick.com

                         About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more than
a century, Garlock has been helping customers efficiently seal the
toughest process fluids in the most demanding applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D.N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.

Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in their Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel for
asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in the
Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan P.
Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his
co-counsel.

Judge George Hodges of the United States Bankruptcy Court for the
Western District of North Carolina on Jan. 10, 2014, entered an
order estimating the  liability for present and future mesothelioma
claims against Garlock Sealing at $125 million, consistent with the
positions GST put forth at trial.


GAS-MART USA: Judge Denies Custodian's Ch. 11 Dismissal Motion
--------------------------------------------------------------
Judge Arthur B. Federman of the United States Bankruptcy Court for
the Western District of Missouri denied the motion filed by John
Sopinski seeking dismissal of the Chapter 11 cases of Gas Mart USA
Inc, et al.

Mr. Sopiski sought dismissal of the Chapter 11 cases on the grounds
that the Debtors' directors and managers were stripped of their
authority to commence these bankruptcy cases upon his appointment
as custodian by the State Court.  Alternatively, the Custodian asks
the Court to abstain from hearing his request, excuse him from the
turn over requirement of the Bankruptcy Code, or appoint him as
Chapter 11 trustee.

In opposition to the motion, the Debtors argue that dismissal is
not appropriate.  The Debtors explain that the purpose of the
Custodian Order was to provide transparency by reporting to the
shareholders and members on operations of the companies.  However,
it became evident from his actions after appointment that the
Custodian is an agent of the Gustin family.  The Debtors allege
that the Custodian is disordered and confused, having on at least
one occasion become lost in one of the stores. By all indications,
the Custodian simply lacks the aptitude and stamina necessary to
oversee the successful continued operations of the Debtors in these
large and complex reorganization cases. To be clear, Debtors do not
believe that Mr. Sopinski is entitled to any further payments from
the Debtors for his services, and will not make any such payment to
Mr. Sopinski unless and until ordered to do so by this Court.

Sun Life Assurance Company of Canada, a secured creditor, also
opposed the Custodian's motion asserting that the motion
underscores the need for the Debtors' operations and restructuring.
Abstention or installing the Custodian as a Chapter 11 trustee --
will not serve the interests of creditors.  Simply put, Sun Life
believes that the Court is the most appropriate and capable forum
for addressing the Debtors' problems, and the relief sought by the
Custodian should be denied in all respects, Sunlife adds.

Mr. Sopinski argued that the Bankruptcy Court should follow the
express Orders of Johnson County District Court that the Custodian
is the party with decision making ability.  Morever, the Custodian
requests the entry of an order confirming that he is the authorized
corporate representative that is empowered to make corporate
decisions on behalf of the Debtor; that all shareholders, former
directors, and the CEO shall not take action on behalf of the
Debtor without the Custodian's approval.

UMB Bank, N.A., also objected to the request, asserting that the
granting of the various relief sought in the Motion will likely
constitute an event of default under the DIP Order, for which UMB
may terminate the Post-Petition Financing and exercise the rights
afforded to it under the DIP Order.  Accordingly, it would
effectively eliminate Debtors' ability to reorganize under Chapter
11, which, ironically, would likely end any chance the interest
holders would have for a recovery.  The Motion only serves as an
extension of the dispute between out-of-the-money interest holders.
As such, it is an unnecessary distraction from Debtors'
restructuring efforts that only serves to further harm the
creditors, UMB added.

The Debtors are represented by:

          Paul M. Hoffmann, Esq.
          Sharon Stolte, Esq.
          Nicholas J. Zluticky, Esq.
          STINSON LEONARD STREET LLP
          1201 Walnut, Suite 2900
          Kansas City, MO 64106
          Tel: (816) 842-8600
          Fax: (816) 691-3495
          Email: paul.hoffmann@stinsonleonard.com
                 sharon.stolte@stinsonleonard.com
                 nicholas.zluticky@stinsonleonard.com

Custodian John Sopinski is represented by:

          Colin N. Gotham, Esq.
          EVANS & MULLINIX, P.A.
          7225 Renner Road, Suite 200
          Shawnee, KS 66217
          Tel: (913) 962-8700
          Fax: (913) 962-8701
          Email: cgotham@emlawkc.com

UMB BANK, N.A. is represented by:

          Scott J. Goldstein, Esq. MO # 28698
          Eric L. Johnson, Esq. MO # 53131
          SPENCER FANE BRITT & BROWNE LLP
          1000 Walnut Street
          Kansas City, Missouri 64106
          Tel: (816) 478-8100
          Fax: (816) 471-6467
          Email: sgoldstein@spencerfane.com
                 ejohnson@spencerfane.com

Sun Life Assurance Company of Canada is represented by:

          William C. Heuer, P.C., Esq.
          DUANE MORRIS LLP
          1540 Broadway
          New York, NY 10036
          Tel: (212) 692-1070
          Fax: (212) 208-4521
          Email: wheuer@duanemorris.com

             -- and --

          Jeffrey A. Deines, Esq.
          Shane J. McCall, Esq.
          LENTZ CLARK DEINES PA
          9260 Glenwood
          Overland Park, KS 66212
          Tel: (913) 648-0600
          Fax: (914) 648-0664
          Email: jdeines@lcdlaw.com
                 smccall@lcdlaw.com

                 About Gas-Mart

Gas-Mart USA, Inc., Aving-Rice, LLC, Fran Transport & Oil Company,
and G&G Enterprises, LLC, sought Chapter 11 bankruptcy protection
(Bankr. W.D. Mo. Lead Case No. 15-41915) in Kansas City, Missouri,
on July 2, 2015.

Gas-Mart and Aving-Rice own and operate gasoline
station/conveniences stores ("C-Stores").  With locations in Iowa,
Illinois, Indiana, Nebraska, and Wisconsin, Gas-Mart and Aving
Rice
operate 22 and 20 stores, respectively, as of the Petition Date.
G&G owns and leases ATM's to the 42 Gas-Mart and Aving-Rice
locations as well as certain ConocoPhillips locations in the
greater Kansas City Area.  Fran is a fuel hauling business located
in and serving Kansas City.

Judge Arthur B. Federman presides over the Chapter 11 cases.

The Debtors tapped Stinson Leonard Street LLP as attorneys;
Polsinelli PC as special counsel; Brown & Ruprecht, PC as
conflicts
counsel; and Frank Wendt as special conflicts counsel.

The Debtors' Chapter 11 plan and disclosure statement are due
Oct. 30, 2015.

Gas-Mart estimated $10 million to $50 million in assets and debt.

In July, Daniel Casamatta, acting U.S. trustee, appointed seven
creditors to serve on Gas-Mart's official committee of unsecured
creditors.  The committee is represented by Freeborn & Peters LLP,
in Chicago, Illinois.


GREEN EARTH: Incurs $8.1 Million Net Loss in Fiscal 2015
--------------------------------------------------------
Green Earth Technologies, Inc., filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $8.08 million on $766,000 of net sales for the year ended
June 30, 2015, compared to a net loss of $6.84 million on $4.05
million of net sales for the year ended June 30, 2014.

As of June 30, 2015, the Company had $11.74 million in total
assets, $28.83 million in total liabilities and a $17.09 million
total stockholders' deficit.

Friedman LLP, in East Hanover, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2015, citing that the Company's losses, negative
cash flows from operations, working capital deficit, related party
note in default payable upon demand and its ability to pay its
outstanding liabilities through fiscal 2016 raise substantial doubt
about its ability to continue as a going concern.

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

                       http://is.gd/70mQml

                   About Green Earth Technologies

White Plains, N.Y.-based Green Earth Technologies, Inc. (OTC QB:
GETG) -- http://www.getg.com/-- markets, sells and distributes
bio-degradable performance and cleaning products.  The Company's
product line crosses multiple industries including the automotive
aftermarket, marine and outdoor power equipment markets.


HAGGEN HOLDINGS: Trustee Wants Stroock Off Case Over JPMorgan Ties
------------------------------------------------------------------
Aebra Coe at Bankruptcy Law360 reported that a U.S. trustee
overseeing the bankruptcy of grocery giant Haggen told a Delaware
court on Oct. 9, 2015, that Stroock & Stroock & Lavan LLP should
not serve as counsel for the Debtor, because JPMorgan Chase Bank, a
participant in Haggen's credit facility, is a major client of the
law firm.

Andrew R. Vara urged the federal bankruptcy court to prevent
Stroock from representing Haggen Holdings LLC, saying the firm has
failed to demonstrate that it is disinterested in the outcome of
the case.

                            About Haggen

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

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

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


HARBOR PLUMBING: Involuntary Chapter 11 Case Summary
----------------------------------------------------
Alleged Debtor: Harbor Plumbing & Heating, Inc.
                   aka Harbor Plumbing & Heating
                   aka Harbor Plumbing and Heating, Inc.
                Post Office Box 32117
                Juneau, AK 99803

Case Number: 15-00343

Involuntary Chapter 11 Petition Date: October 13, 2015

Court: United States Bankruptcy Court
       District of Alaska (Anchorage)

Petitioners' Counsel: Gary C. Sleeper, Esq.
                      JERMAIN DUNNAGAN & OWENS
                      3000 A Street, Suite 300
                      Anchorage, AK 99503
                      Tel: (907) 563-8844
                      Fax: (907)563-7322
                      Email: gcsleeper@jdolaw.com

   Petitioners                  Nature of Claim  Claim Amount
   -----------                  ---------------  ------------
Plumbers and Pipefitters           Employee           $10,339
Local Union No. 262 Trust          Benefits
Funds and Steamfitters Local
Union No. 262 Apprenticeship
and Journeyman Training Trust
Fund
1751 Anka St. Juneau, AK

Plumbers and Pipefitters U.A.      Employee          $155,476      
             
Local Union 367 Health &          Benefits
Welfare Trust Fund
610 W 54th Ave.
Anchorage, AK

Local Number 262 of the           Employee            $42,666
Plumbers and Pipefitters          Benefits
Union, A.F. of L. - C.I.O.
of Southeastern Alaska
Employees' Supplemental
Retirement Plan
1751 Anka St., Juneau, AK


HD SUPPLY: Unit Redeems $675M Outstanding 11% Sr. Notes Due 2020
----------------------------------------------------------------
HD Supply Holdings, Inc. announced that HD Supply, Inc., its
indirect wholly-owned subsidiary, had redeemed all of its
outstanding $675 million 11% Senior Secured Second Priority Notes
due 2020 using proceeds from the completion of the previously
announced sale of its Power Solutions business.  The redemption
amount of $783.3 million included a make-whole premium of
approximately $71.6 million and accrued interest of approximately
$36.7 million.  The reduction in future interest expense is
expected to be approximately $75 million annually.  The Company's
Net Debt to Adjusted EBITDA leverage ratio as of Aug. 2, 2015, is
5.3x adjusted for this redemption of the Second Priority Notes.

                          About HD Supply

HD Supply, Inc., headquartered in Atlanta, Georgia, is one of the
largest North American wholesale distributors supporting
residential and non-residential construction and to a lesser
extent electrical consumption and repair and remodeling.  HDS also
provides maintenance, repair and operations services.  Its
businesses are organized around three segments: Infrastructure and
Energy; Maintenance, Repair & Improvement; and, Specialty
Construction.  HDS operates through approximately 800 locations
throughout the U.S. and Canada serving contractors, government
entities, maintenance professionals, home builders and
professional businesses.

As of May 3, 2015, HD Supply had $6.3 billion in total assets, $6.8
billion in total liabilities and a $498 million total stockholders'
deficit.

                           *     *     *

As reported by the TCR on Aug. 5, 2015, Moody's Investors Service
upgraded HD Supply, Inc.'s Corporate Family Rating to B2 from B3
and revised its rating outlook to positive from stable, since key
debt credit metrics are becoming more supportive of higher ratings.
The upgrade of HDS's Corporate Family Rating to B2 from B3 and the
change in rating outlook to positive from stable results from
Moody's expectations for key debt credit metrics becoming more
supportive of higher ratings, due to solid operating performance
and lower levels of balance sheet debt.

The TCR reported in August 2015 that Standard & Poor's Ratings
Services said that it has raised its corporate credit rating on
Atlanta-based industrial distributor HD Supply Inc. to 'B+' from
'B'.  "The upgrade reflects the company's consistently good
operating performance over the past 12 months, which has caused its
leverage to fall below 6x as of May 3, 2015," said Standard &
Poor's credit analyst Svetlana Olsha.


HEPAR BIOSCIENCE: Reorganization Plan Confirmed
-----------------------------------------------
The U.S. Bankruptcy Court for the District of South Dakota entered
an order confirming the reorganization plan of Hepar Bioscience
LLC.

The Court approved the Debtor's Modified Disclosure Statement on
July 29, 2015, set an Aug. 31 deadline for ballots and objections,
and a Sept. 3 confirmation hearing on the Debtor's Modified Plan of
Reorganization Dated July 21, 2015.

The Plan was accepted by all voting classes:  Northwest Bank, with
an $18.3 million claim in Class 1; Global Engineering and
Construction, with a $98,800 claim in Class 2; and unsecured
creditors in Class 3.  Eight unsecured creditors with total claims
of $2.13 million voted to accept the Plan while only one unsecured
creditor with a claim of $204,000 voted to reject the Plan.  The
Debtor said that voting by members/owners in Class 4 is not
necessary since the class is unimpaired under the Plan.
Regardless, Mark Nylen, holder of the 99% membership interest, cast
a ballot to accept the Plan.

Mary Ellen Nylen filed an objection to confirmation.  Ms. Nylen
says her interest in the Debtor is currently at issue in a
dissolution proceeding between Ms. Nylen and the principal, Mark
Nylen.  Ms. Nylen objects to, among other things, provisions in the
Plan regarding Mark Nylen's continued control and management of the
Debtor.

Responding to the objection, the Official Committee of Unsecured
Creditors said that Mr. Nylen's continued control and management of
the Debtor was a key factor in the decision of committee members
ballotting to accept the Plan.  Based upon preliminary information
from Duff & Phelphs, the valuation expert retained by the
Committee, the Debtor's value is signfffffffiicantly higher under
Mr. Nuylen's control and management.

After finding that the requirements for confirmation set forth in
11 U.S.C. Sec. 1129(a) have been satisfied, Bankruptcy Judge
Charles L. Nail, Jr., ruled Sept. 24, 2015, "It is HEREBY ORDERED
Debtor's Modified Plan of Reorganization Dated July 21, 2015 is
confirmed, with the clarifications entered on the record and
incorporated in the Plan as Confirmed to be filed following the
entry of this order."

A copy of the Confirmed Plan filed Sept. 24, 2015, is available
at:

      http://bankrupt.com/misc/Hepar_B_310_Confirmed_Plan.pdf

The Creditors Committee's attorneys:

         CADWELL SANFORD DEIBERT & GARRY LLP
         James S. Simko, Esq.
         200 E. 10th Street - Suite 200
         P.O. Box 2498
         Sioux Falls, SD 57101-2498
         Tel: (605) 336-0828
         E-mail: ssimko@cadlaw.com

                      About Hepar BioScience

Jefferson, South Dakota-based Hepar BioScience LLC in the business
of receiving porcine (pork) by-products (concentrated peptone, a
functional pork protein and animal fat) and other meat by-products
that are primarily used in the porcine animal nutrition feed
industry (concentrated porcine peptone) and biodiesel or animal
feed business (animal fat).

The Company filed a Chapter 11 bankruptcy petition (Bankr. D. S.D.
Case No. 15-40057) on Feb. 20, 2015.  

Bankruptcy Judge Charles L. Nail, Jr., presides over the case.
Clair R. Gerry, Esq., at Gerry & Kulm Ask, Prof. LLC, represents
the Debtor in its restructuring effort.  The Debtor disclosed
$11,987,018 in assets and $22,243,151 in liabilities as of the
chapter 11 filing.

The U.S. Trustee for Region 12 appointed a five-member Official
Committee of Unsecured Creditors.  The Committee tapped James S.
Simko of Cadwell, Sanford, Deibert & Garry, LLP as its counsel,
and
Duff & Phelps Securities, LLC as its valuation advisor.


HOVENSA LLC: To Auction Off Oil Terminal Assets on November 10
--------------------------------------------------------------
Hovensa LLC will conduct an auction on Nov. 10, 2015, at 10:00 a.m.
(prevailing Eastern time) at the offices of Morrison & Foerster
LLP, 250 West 55th Street in New York, New York, to determine the
highest and best bid for its oil terminal assets and other assets.

The Debtor proposes to sell the assets for $184 million.  Limetree
Bay Holdings LLC was selected as the the stalking horse bidder for
the Debtor's assets.

All interested bidders for the Debtor's assets must submit their
offers by Nov. 5, 2015, at 5:00 p.m. (prevailing Eastern time).
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware will hold a hearing on Nov. 12, 2015, at 2:00
p.m. (prevailing Eastern time) to consider approval of the sale
transaction.

                          About Hovensa LLC

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.


HYDROCARB ENERGY: KBM Worldwide No Longer a Shareholder
-------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, KBM Worldwide, Inc. disclosed that as of Sept. 10,
2015, it does not beneficially own any shares of common stock of
Hydrocarb Energy Corp.  KBM Worldwide previously held 2,126,779
shares of the Company's common stock as of June 26, 2015.  A copy
of the regulatory filing is available at http://is.gd/mo7NtD

                       About Hydrocarb Energy

Hydrocarb Energy, formerly known as Duma Energy Corp, is a
publicly-traded Domestic and International energy exploration and
production company targeting major under-explored oil and gas
projects in emerging, highly prospective regions of the world.
With exploration concessions in Africa, production in Galveston
Bay and Oil Field Services in the United Arab Emirates, the
Company maintain offices in Houston, Texas, Abu Dhabi, UAE and
Windhoek, Namibia.

Hydrocarb Energy reported a net loss of $6.55 million on $5.06
million of revenues for the year ended July 31, 2014, compared to
a net loss of $37.5 million on $7.07 million of revenues for the
year ended July 31, 2013.

As of April 30, 2015, the Company had $27.6 million in total
assets, $24.2 million in total liabilities and $3.4 million in
total equity.

"A decline in the price of our common stock could result in a
reduction in the liquidity of our common stock and a reduction in
our ability to raise additional capital for our operations.
Because our operations to date have been largely financed through
the sale of equity securities, a decline in the price of our
common stock could have an adverse effect upon our liquidity and
our continued operations.  A reduction in our ability to raise
equity capital in the future could have a material adverse effect
upon our business plan and operations, including our ability to
continue our current operations," the Company stated in its
annual report for the year ended July 31, 2014.


ISENSE ACQUISITION: GEMCAP to Auction Off Assets on October 21
--------------------------------------------------------------
GEMCAP Lending I LLC will hold a public sale for all right, title
and interest of Isense Acquisition LLC and Isense CGM Inc. on Oct.
21, 2015, at 2:00 p.m. (Eastern Time) at the offices of Cohen
Tauber Splevack & Wagner P.C., 420 Lexington Avenue, Suite 2400 in
New York.

Most of the tangible personal property collateral is located at
27700 Sw 95th Avenue, Suites 100, 106, and 109 (Building A and D)
in Wilsonville, Oregon.

For further details regarding the collateral and information
regarding the terms of the public sale, interested buyers may
contact:

   Cohen Tauber Splevack & Wagner PC
   420 Lexington Avenue, Suite 2400
   New York, NY 10170
   Attn: Robert A. Boghosain, Esq.
   Tel: (212) 586-5800


J.L. BROWN CONTRACTING: Case Summary & 15 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: J.L. Brown Contracting Service, Inc.
        5141 N. Hanley
        Saint Louis, MO 63134

Case No.: 15-47718

Chapter 11 Petition Date: October 13, 2015

Court: United States Bankruptcy Court
       Eastern District of Missouri (St. Louis)

Judge: Hon. Charles E. Rendlen III, Esq.

Debtor's Counsel: Spencer P. Desai, Esq.
                  DESAI EGGMANN MASON LLC
                  Pierre Laclede Center
                  7733 Forsyth Boulevard, Suite 800
                  St. Louis, MO 63105
                  Tel: (314) 881-0800
                  Fax: (314) 881-0820
                  Email: sdesai@demlawllc.com

                    - and -

                  Danielle A. Suberi, Esq.
                  DESAI EGGMAN MASON LLC
                  7733 Forsyth Blvd., Suite 800
                  Saint Louis, MO 63139
                  Tel: 314-881-0800
                  Fax: 314-881-0833
                  Email: dsuberi@demlawllc.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jimmie Brown, president.

A list of the Debtor's 15 largest unsecured creditors is available
for free at http://bankrupt.com/misc/moeb15-47718.pdf


LANNETT CO.: Moody's Assigns B1 CFR & Rates $1.285BB Facility B1
----------------------------------------------------------------
Moody's Investors Service assigned a B1 Corporate Family Rating and
B1-PD Probability of Default Rating to Lannett Company, Inc.
Moody's also assigned a B1 rating to the proposed $1.285 billion
senior secured credit facility, including a $1.160 billion term
loan and a $125 million revolving credit facility.  The proceeds of
the term loan, along with cash on hand, will be used to fund the
pending acquisition of Kremers Urban ("KU") for $1.230 billion in
cash.  KU is currently a wholly owned subsidiary of UCB S.A.
Moody's also assigned a Speculative Grade Liquidity Rating of
SGL-1, signifying very good liquidity.  The outlook is stable.
This is the first time that Moody's has rated Lannett.

Ratings assigned:

  Corporate Family Rating at B1

  Probability of Default Rating at B1-PD

  $1.160 billion senior secured term loan at B1(LGD4)

  $125 million revolving credit facility at B1(LGD4)

  Speculative Grade Liquidity Rating at SGL-1

The outlook is stable.

RATINGS RATIONALE

The B1 Corporate Family Rating reflects Lannett's modest size --
despite doubling its revenue with the KU acquisition -- in the
rapidly consolidating generic drug industry.  The rating is also
constrained by Lannett's rapid growth over the past several years
which has been driven largely by opportunistic price increases.
Moody's believes that, given significant recent scrutiny on generic
drug prices, these types of price increases will be harder to
achieve going forward.  In addition, large price increases on
generic products tend to draw more competitors into a market,
potentially making Lannett's very high profit margins
unsustainable.  The rating also reflects the company's revenue
concentration in a relatively limited number of drugs and its
reliance on third party manufacturers.  The rating also reflects
Lannett's limited experience in acquiring and integrating companies
of significant size.

The ratings are supported by Lannett's moderate leverage with
debt/EBITDA of under 3.5x.  The B1 rating incorporates Moody's
expectation that adjusted debt to EBITDA will generally be
maintained below 4.0x even if Lannett faces margin pressure
resulting from increased competition on key products.  The ratings
also incorporate Moody's expectation that the company will generate
consistently positive free cash flow.  Excluding some temporary
expansion capital expenditures in 2016-2017, Moody's anticipates
free cash flow/debt of greater than 5%.  The rating is also
supported by Moody's view that the company will use free cash flow
to repay debt and will not pursue other large acquisitions in the
next 12-18 months, although some smaller (


LIBERATOR INC: Incurs $473,700 Net Loss in Fiscal 2015
------------------------------------------------------
Liberator, Inc. filed with the U.S.Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$473,746 on $15.6 million of net sales for the year ended
June 30, 2015, compared to a net loss of $376,056 on $14.71 million
of net sales for the year ended June 30, 2014.

As of June 30, 2015, the Company had $3.27 million in total assets,
$5.59 million in total liabilities and a $2.32 million total
stockholders' deficit.

Liggett, Vogt & Webb, P.A., in Boynton Beach, Florida, issued a
"going concern" qualification on the consolidated financial
statements stating that the Company has a net loss of $473,746, a
working capital deficiency of $1,764,044, and an accumulated
deficit of $8,897,487.  These factors raise substantial doubt about
the Company's ability to continue as a going concern, the auditors
said.

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

                       http://is.gd/cndaoh

                        About Liberator Inc.

Atlanta, Georgia-based Liberator is a vertically integrated
manufacturer that designs, develops and markets products and
accessories that enhance intimacy.  Liberator is also a nationally
recognized brand trademark, brand category and a patented line of
products commonly referred to as sexual positioning shapes and sex
furniture.


LIGHTSQUARED INC: 2nd Circ. Denies Ex-CEO's Bid to Stay Ch. 11
--------------------------------------------------------------
Pete Brush at Bankruptcy Law360 reported that the Second Circuit on
Oct. 9, 2015, turned aside an effort by former LightSquared CEO
Sanjiv Ahuja to temporarily halt confirmation of the mobile
communications startup's Chapter 11 plan until the merits of his
claim for a potentially lucrative equity payout can be hashed out,
but the court granted him an expedited appeal.

The order came down hours after Ahuja's counsel asked Circuit
Judges Guido Calabresi, Barrington D. Parker and Susan L. Carney to
diverge from U.S. Bankruptcy Judge Shelley Chapman and U.S.
District Judge Katherine B. Forrest.

                  About LightSquared Inc.

LightSquared Inc. and 19 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 12-12080) on
May 14, 2012, to resolve regulatory issues that have prevented it
from building its coast-to-coast integrated satellite 4G wireless
network.

LightSquared had invested more than $4 billion to deploy an
integrated satellite-terrestrial network.  In February 2012,
however, the U.S. Federal Communications Commission told
LightSquared the agency would revoke a license to build out the
network as it would interfere with global positioning systems used
by the military and various industries.  In March 2012, the
Company's partner, Sprint, canceled a master services agreement.
LightSquared's lenders deemed the termination of the Sprint
agreement would trigger cross-defaults under LightSquared's
prepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with
liquidity and runway necessary to resolve its issues with the FCC.

Despite working diligently and in good faith, however,
LightSquared and the lenders were not able to consummate a global
restructuring on terms acceptable to all interested parties.

Lawyers at Milbank, Tweed, Hadley & McCloy LLP serve as counsel to
the Debtors.  Alvarez & Marsal North America, LLC, is the
financial advisor.  Kurtzman Carson Consultants LLC serves as
claims and notice agent.

                          *     *     *

Bankruptcy Judge Shelley C. Chapman in late March 2015, approved
LightSquared Inc.'s Chapter 11 reorganization plan.  As previously
reported by The Troubled Company Reporter, the Debtors, in
December, filed a joint plan and disclosure statement, which
contemplate, among other things, (A) new money investments by the
New Investors in exchange for a combination of preferred and
common equity, (B) the conversion of the Prepetition LP Facility
Claims into new second lien debt obligations, (C) the repayment in
full, in cash, of the Inc. Facility Prepetition Inc. Facility
NonSubordinated Claims immediately following confirmation of the
Plan, (D) the payment in full, in cash, of LightSquared's general
unsecured claims, (E) the provision of $1.25 billion in new money
working capital for the Reorganized Debtors, (F) the assumption of
certain liabilities, (G) the resolution of all inter-Estate
disputes, and (H) the contribution by Harbinger of the Harbinger
Litigations.


MALIBU LIGHTING: Unit Gets OK to Tap Part of $21.5M DIP Loan
------------------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that a Delaware
bankruptcy judge allowed the Malibu Lighting Corp. affiliate that
aims to be sold as a going concern in Chapter 11 to tap a portion
of $21.5 million stopgap financing on Oct. 9, 2015, kicking off a
case that is looking to complete a sale process by mid-November.

During a hearing in Wilmington, U.S. Bankruptcy Judge Kevin Gross
gave interim approval for debtor-in-possession financing from
Comerica Bank to National Consumer Outdoors Corp., one of several
related companies that filed for Chapter 11 protection on Oct. 8.

                       About Malibu Lighting

Malibu Lighting Corporation, Outdoor Direct Corporation, National
Consumer Outdoors Corporation, Beam Corporation, Smoke 'N Pit
Corporation, Treasure Sensor Corporation and Stubbs Collections
Inc. filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead
Case No. 15-12080) on Oct. 8, 2015.  The petition was signed by
David M. Baker as chief restructuring officer.  Judge Kevin Gross
is assigned to the case.

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

The Debtors have engaged Pachulski Stang Ziehl & Jones LLP as
counsel, Piper Jaffray Co. as investment banker and Kurtzman
Carson
Consultants as claims and noticing agent.

MLC was a manufacturer and supplier of outdoor and landscape
lighting products, such as solar and low voltage lights and home
security lights, including the parts and accessories associated
with these products.

ODC was a manufacturer and supplier of a variety of consumer
goods,
including (a) outdoor cooking products, such as outdoor gas
grills,
charcoal grills, smokers and fryers, (b) hand held lighting
products, such as flashlights and spotlights, (c) landscape
lighting products, and (d) parts and accessories associated with
the foregoing products.

MLC and ODC are currently winding down operations as a result of
the termination of a business relationship with principal
customer,
Home Depot.

NCOC is a manufacturer and supplier of both branded and private
label pet bedding and pet accessory products.  NCOC manufactures
beds, accessories, and deodorizers for dogs as well as beds,
scratching posts, and toys for cats.  In addition, NCOC markets
and
sells boat covers manufactured primarily from Chinese suppliers.



MORNINGSTAR MARKETPLACE: M&T Seeks Adequate Protection
------------------------------------------------------
Manufacturers and Traders Trust Company, as duly appointed Trustee
under the Trust Indenture for the holders of the York County
Industrial Development Authority Mortgage Revenue Bonds
(Morningstar Solar LLC Project) Series 2010, asks the United States
Bankruptcy Court for the Middle District of Pennsylvania to
terminate the automatic stay imposed in the Chapter 11 case of
Morningstar Marketplace, Ltd.

In the alternative, M&T asks the Court to declare the the Chapter
11 case is a "single asset real estate" case and direct the
appointment of a Chapter 11 Trustee.

Along with its gross mismanagement of its estate and relationship
with its affiliated tenant, the Debtor’s inability to make
adequate protection payments is cause for either the termination of
the automatic stay with respect to M&T and/or the appointment of a
Chapter 11 Trustee, Henry W. Van Eck, Esq., at Mette, Evans &
Woodside, in Harrisburg, Pennsylvania.

Mr. Van Eck asserts that the Court should find that the Debtor case
is a "single asset real estate" case as that term is defined in
Section 101(51B) of the Bankruptcy Code and require the Debtor to
comply with the requirements of Section 362(d)(3).  M&T believes
that the value of the estate is diminishing over time and cannot be
recovered unless a responsible third party, whose pecuniary
interests do not lay with an adverse party, is installed to guide
the Debtor toward a viable plan of reorganization or other exit
strategy involving the sale of substantially all of the Debtor's
assets.

The Debtor, in response, asserted that its sources of income
involve two related entities one of which operates a farmer's
market and the other of which is a solar farm creating both energy
for the use of the property owned by the Debtor and released to the
entity operating the Marketplace.  The Debtor argued that M&T is
adequately protected by the Debtor's payment of $23,459 per month
to PNC Bank on account of PNC Bank's first mortgage where, by
making payments, the Debtor monthly increases the value of M&T's
second mortgage position by the reduction of PNC's mortgage
balance.

Morningstar Marketplace, Ltd. is represented by:

          Robert L. Knupp, Esq.
          SMIGEL, ANDERSON & SACKS, LLP
          4431 North Front Street
          Harrisburg, PA 17110
          Tel: (717/234-2401)
          Fax: (717)234-3611
          Email: rknupp@sasllp.com

Manufacturers and Traders Trust Company is represented by:

          Henry W. Van Eck, Esq.
          METTE, EVANS & WOODSIDE
          3401 North Front Street
          Harrisburg, PA 17110
          Tel: (717)232-5000
          Fax: (717) 236-1816
          Email: hwvaneck@mette.com

               -- and --

          James C. Thoman, Esq.
          HODGSON RUSS LLP
          The Guaranty Building
          140 Pearl Street, Suite 100
          Buffalo, NY 14202
          Tel: (716) 856-4000
          Fax: (716) 849-0349
          Email: jthoman@hodgsonruss.com

                         About Morningstar Marketplace

Morningstar Marketplace, LTD, operator of a flea market business in
St. Thomas, Pennsylvania, filed a Chapter 11 bankruptcy petition
(Bankr. M.D. Pa. Case No. 14-00451) in Harrisburg on Feb. 3, 2014.
Judge Mary D France presides over the case.  Attorneys at Smigel,
Anderson & Sacks, LLP serve as counsel to the Debtor.  The Debtor
estimated $100 million to $500 million in assets and liabilities.


MORNINGSTAR MARKETPLACE: Seeks to Modify Cash Collateral Use
------------------------------------------------------------
Morningstar Marketplace, Ltd., seeks authority from the United
States Bankruptcy court for the Middle District of Pennsylvania to
amend its use of cash collateral going forward and ask the Court to
find and hold that the payment by Debtor of the first mortgage
payment to PNC Bank provides adequate protection for the interests
of Manufacturers and Traders Trust Company.

The Debtor continues to pay the first mortgage payment of $23,459
per month to the first mortgage holder, PNC Bank.  The Debtor
represents that all mortgage payments owed to PNC Bank are current
and have been paid in a timely fashion since the Petition Date.

The Debtor believes that by paying the first mortgage it is
protecting and providing adequate protection for the interests of
M&T Bank, the holder of a junior mortgage by virtue of the fact
that the payments made to the first mortgage lender increase the
value of the junior mortgage with each payment and each succeeding
payment.  The Debtor represents that it has depleted its resources
to the detriment of other creditors and in favor of M&T by virtue
of the previous Cash Collateral Order in this matter and that
Debtor must protect its cash assets.

M&T Bank, as duly appointed Trustee under the Trust Indenture for
the holders of the York County Industrial Development Authority
Mortgage Revenue Bonds (Morningstar Solar LLC Project) Series 2010,
objected, asserting that the Debtor has failed to meet its burden
to demonstrate that M&T is adequately protected.  The Debtor has
the burden of proof with respect to adequate protection.  The value
of the Collateral has eroded during the course of this case in the
approximate amount of $400,000, and the Debtor has fallen behind in
its tax payments during the course of the case in the approximate
amount of $120,000, M&T complains.

The Debtor, in response, explained that M&T fails to state the
first broker that was employed in the present case was secured by
its counsel.  The Debtor is paying $23,459 to M&T on account of its
first secured position as a mortgage holder per month.  With every
payment that Debtor makes to the first lienholder, the position of
M&T Bank as a second mortgage lienholder improves, the Debtor
asserts.

Morningstar Marketplace, Ltd. is represented by:

          Robert L. Knupp, Esq.
          SMIGEL, ANDERSON & SACKS, LLP
          4431 North Front Street
          Harrisburg, PA 17110
          Tel: (717/234-2401)
          Fax: (717)234-3611
          Email: rknupp@sasllp.com

Manufacturers and Traders Trust Company is represented by:

          Henry W. Van Eck, Esq.
          METTE, EVANS & WOODSIDE
          3401 North Front Street
          Harrisburg, PA 17110
          Tel: (717)232-5000
          Fax: (717) 236-1816
          Email: hwvaneck@mette.com

               -- and --

          James C. Thoman, Esq.
          HODGSON RUSS LLP
          The Guaranty Building
          140 Pearl Street, Suite 100
          Buffalo, NY 14202
          Tel: (716) 856-4000
          Fax: (716) 849-0349
          Email: jthoman@hodgsonruss.com

                         About Morningstar Marketplace

Morningstar Marketplace, LTD, operator of a flea market business in
St. Thomas, Pennsylvania, filed a Chapter 11 bankruptcy petition
(Bankr. M.D. Pa. Case No. 14-00451) in Harrisburg on Feb. 3, 2014.
Judge Mary D France presides over the case.

Attorneys at Smigel, Anderson & Sacks, LLP serve as counsel to the
Debtor.  The Debtor estimated $100 million to $500 million in
assets and liabilities.


NAT'L ASSISTANCE BUREAU: Case Summary & 13 Top Unsecured Creditors
------------------------------------------------------------------
Debtor: National Assistance Bureau, Inc.,
        An Indiana non-profit corporation
        10800 Alpharetta Highway, Suite 208 #665
        Roswell, GA 30076

Case No.: 15-69786

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: October 13, 2015

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

Debtor's Counsel: Theodore N. Stapleton, Esq.
                  THEODORE N. STAPLETON, P.C.
                  Suite 100-B, 2802 Paces Ferry Road
                  Atlanta, GA 30339
                  Tel: 770 436-3334
                  Fax: (404) 935-5344
                  Email: tstaple@tstaple.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by William R. Hill Sr., president.

A list of the Debtor's 13 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ganb15-69786.pdf


NORTHSHORE MAINLAND: Drops Bid to Employ Robert Kors as CRO
-----------------------------------------------------------
Northshore Mainland Services Inc., informed the U.S. Bankruptcy
Court for the District of Delaware it is withdrawing, without
prejudice, its bid to employ Robert A. Kors as chief restructuring
officer.

Northshore initially proposed to hire Mr. Kors as CRO to, among
other things:

   1. assist with the prosecution of the chapter 11 plan;

   2. negotiate and liaise with key creditor constituencies; and

   3. coordinate with the Debtors' board of directors and other
      professionals; assist with the management and settlement
      of litigation.

Northshore also would look to Mr. Kors to:

   a) manage certain day-to-day operational and restructuring
      activities on behalf of the Debtors;

   b) assist in prosecuting the cases, including, but not
      limited to, negotiations with creditors, reconciliation
      of claims and confirmation of a plan; and

   c) assist the Debtors in the preparation of financial
      disclosures required by the Bankruptcy Court,
      including the Disclosure Statement, the schedules
      of assets and liabilities, the statements of
      financial affairs and monthly operating reports.

Papers filed by the Debtor indicate Mr. Kors would have been paid
$725 an hour.  Pursuant to the engagement letter agreement between
Castellammare Advisors, LLC and the Debtors, dated Sept. 3, 2015,
the Debtors would pay Mr. Kors a onetime, nonrefundable engagement
fee of $10,000, which fee would be fully earned upon receipt.  In
addition, the Debtors would provide Mr. Kors with an initial
retainer of $50,000.

                        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.

Northshore Mainland Services Inc., disclosed total assets of
$1,546,688 and total liabilities of $2,339,747,464.

                            *     *     *

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.


NORTHSHORE MAINLAND: Needs Until Jan. 25 to Decide on Leases
------------------------------------------------------------
Northshore Mainland Services Inc. asks the United States Bankruptcy
Court for the District of Delaware to extend the time within which
it must assume or reject unexpired leases of nonresidential real
property through and including January 25, 2016.

The Debtor explained that its current period to decide whether to
assume or reject the Unexpired Leases expires on October 27, 2015.
An extension would be without prejudice to the rights of the Debtor
to seek further extensions of the time to assume or reject the
Unexpired Leases with the consent of the affected lessors as
contemplated by Section 365(d)(4)(B)(ii) of the Bankruptcy Code.

The Debtor's decision whether to assume or reject the Unexpired
Leases is important to its efforts to maximize the value of its
estates.  If the Debtor is compelled at this time to decide whether
to assume or reject the Unexpired Leases, it may be forced to
prematurely assume the Unexpired Leases, which could lead to
unnecessary administrative claims against their estates if the
leases are ultimately terminated, the Debtor tells the Court.
Conversely, if the Debtor precipitously rejects the Unexpired
Leases, it may forego the significant value such leases may have,
in addition to creating unwarranted rejection damages claims in
this Chapter 11 Case.  Moreover, the Debtor's requested extension
of time to assume or reject the Unexpired Leases will not prejudice
the landlords that are parties to the Unexpired Leases.

Pending the Debtor's election to assume or reject the Unexpired
Leases, the Debtor expects to perform all of its undisputed
obligations arising from and after the Petition Date in a timely
fashion to the extent required by Section 365(d)(3).  The extension
will not adversely affect the substantive rights of any of the
landlords to the remaining Unexpired Leases, the Debtor tells the
Court.

Northshore Mainland Services Inc. is represented by:

          Paul S. Aronzon, Esq.
          Gregory A. Bray, Esq.
          Mark Shinderman, Esq.
          Delilah Vinzon, Esq.
          MILBANK TWEED HADLEY & MCCLOY LLP
          601 South Figueroa Street 30th Floor
          Los Angeles, CA 90017
          Email: paronzon@milbank.com
                 gbray@milbank.com
                 mshinderman@milbank.com
                 dvinzon@milbank.com

             -- and --

          Linda Dakin-Grimm, Esq.
          Tyson Lomazow, Esq.
          Thomas J. Matz, Esq.
          Steven Z. Szanzer, Esq.
          MILBANK TWEED HADLEY & MCCLOY LLP
          28 Liberty Street
          New York, NY 10005-1413
          Tel: (212) 530-5000
          Fax: (212) 530-5219
          Email: ldakin-grimm@milbank.com
                 tlomazow@milbank.com
                 tmatz@milbank.com
                 sszanzer@milbank.com

             -- and --

          Jeremy C. Hollembeak, Esq.
          Michael S. Kim, Esq.
          David H. McGill, Esq.
          KOBRE & KIM LLP
          800 Third Avenue
          New York, NY 10022
          Tel: (212) 488-1200
          Fax: (212) 488-1220
          Email: jeremy.hollembeak@kobrekim.com
                 michael.kim@kobrekim.com
                 david.mcgill@kobrekim.com

             -- and --

          Matthew I. Menchel, Esq.
          KOBRE & KIM LLP
          2 South Biscayne Boulevard 35th Floor
          Miami, Florida 33131
          Tel: (305) 967-6100
          Fax: (305) 967-6120
          Email: matthew.menchel@kobrekim.com

             -- and --

          Laura Davis Jones, Esq.
          Peter J. Keane, Esq.
          James E. O'Neill, Esq.
          Colin Robinson, Esq.
          PACHULSKI STANG ZIEHL & JONES LLP
          919 North Market Street 17th Floor
          Wilmington, DE 19801
          Tel: (302) 652-4100
          Fax: (302) 652-4400
          Email: ljones@pszjlaw.com
                 pkeane@pszjlaw.com
                 joneill@pszjlaw.com
                 crobinson@pszjlaw.com

                          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.


ORLANDO GATEWAY: Taps Hari Garhwal as Accountant
------------------------------------------------
Orlando Gateway Partners, LLC asks the U.S. Bankruptcy Court for
the Middle District of Florida Court for permission to employ Hari
Garhwal, C.P.A., and Garhwal, Chan & Williams, as accountants.

The firm will prepare the tax returns for:

   1. Calendar year 2014 U.S. Return of Partnership Income (Federal
Partnership Return);

   2. Calendar year 2014 Georgia Partnership Tax Return; and

   3. Calendar year Florida Partnership Information Return.

Garhwal, Chan & Williams maintains an office at 350 California
Street, Suite 1990, in San Francisco, California.

The accountants agreed to prepare the tax returns for a fixed flat
rate of $3,000,000.  If accountants are asked to provide services
beyond preparation of the tax returns then, subject to Court
approval, the accountants would bill at their standard hourly rates
ranging from $195 to $600 plus out of pocket expenses.

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

                    About Orlando Gateway

Nilhan Hospitality, LLC, owns approximately 15.75 acres of
commercial real estate located near the Orlando International
Airport on the West side of South Semoran Boulevard and North of
the State Road 528/The Beachline Expressway.  One parcel
(approximately 7.27 acres) has been partially developed as and has
two buildings located at 5463 Gateway Village Circle and 5475
Gateway Village Circle, which are approximately 15,000 square feet
in size.  

Orlando Gateway Partners, LLC, owns approximately 47.95 acres of
commercial real estate located near the Orlando International
Airport on the West side of South Semoran Boulevard and North of
the State Road 528/The Beachline Expressway.  The property is
comprised of four separate parcels, one parcel (approximately 17
acres) has been partially developed and a portion of it is leased
to Sixt Rent-A-Car, LLC. The second parcel (approximately .14
acres) is rented to Clear Channel Worldwide and contains a
billboard. The remaining two parcels (approximately 10.75 and 20.10
acres respectively) are vacant.

Nilhan Hospitality and Orlando Gateway and related entities have
been involved in extensive litigation with Good Gateway, LLC, SEG
Gateway, LLC and other parties since 2009.  In October 2014,
separate judgments were entered in favor of SEG and Good Gateway.

To prevent the assets from being sold at judicial foreclosure
sales, Nilhan Hospitality and Orlando Gateway Partners commenced
Chapter 11 bankruptcy cases (Bankr. M.D. Fla. Case No.15-03447 and
15-03448, respectively) in Orlando, Florida on April 20, 2015.

Chittranjan "Chuck" Thakkar owns 70% of the Nilhan's outstanding
membership interests, and indirectly owns and controls OGP.
Thakkar, as manager, signed the bankruptcy petitions.

Nilhan estimated $1 million to $10 million in assets and $10
million to $50 million in debt while Orlando Gateway estimated
at least $10 million in assets and debt.

The Debtors are represented by Kenneth D Herron, Jr., Esq.,
at Wolff, Hill, McFarlin & Herron, P.A.

                          *    *    *

The Debtors, with the consent of Good Gateway and SEG, have won
from the Bankruptcy Court an order lifting the automatic stay to
allow their appeals of the judgments to go forward.

On June 8, 2015, the U.S. Trustee filed a motion to dismiss or
convert to Chapter 7 the Debtors' bankruptcy cases.  On June 15,
2015, the Good Gateway and SEG file a motion to appoint a Chapter
11 trustee for the Debtors.  On June 16, 2015, the Debtors filed
their Application to Retain Larry S. Hyman, CPA, as Restructuring
Advisor and Chief Restructuring Officer.  Following mediation, the
parties agreed that (i) the Debtors would withdraw the Hyman
Application; (ii) the Trustee motions would be withdrawn, and the
(iii) the Debtors would file an application to employ Tery Soifer
as CRO.

On Aug. 12, 2015, the Court entered an order denying the motion to
dismiss the Chapter 11 cases.  The Court also entered an order
terminating the Debtors' exclusive periods to propose a Chapter 11
plan as of July 31, 2015.

Three competing plans have so far been filed in the Chapter 11
cases by: (1) the Debtors, (ii) Good Gateway and SEG, and (iii)
secured creditor SummitBridge National Investments IV LLC.

The Debtors' Plan contemplates holding an auction to select a new
investor who will get 100% of the ownership and control of the
Debtors' properties in exchange for funding all plan payments.

Secured creditor SummitBridge's reorganization plan for Nilhan
Hospitality, LLC, and Orlando Gateway Partners, LLC, intends to
facilitate a prompt sale of the Debtors' property and prompt
distributions to holders of claims.


OW BUNKER: Gets A Few More Days of Exclusivity in Chapter 11
------------------------------------------------------------
Cara Salvatore at Bankruptcy Law360 reported that marine fuel
shipper O.W. Bunker will get a few more days of exclusive control
over a bankruptcy that blindsided observers last fall, receiving a
ruling on Oct. 9, 2015, that temporarily staves off a hostile
creditor's bid for liquidation.

U.S. Bankruptcy Judge Alan Shiff gave the order on Oct. 9, to let
O.W. Bunker AS' U.S.-based units maintain their exclusivity period
for filing a Chapter 11 plan until Oct. 14, a deadline much sooner
than the Nov. 30 they'd asked for.

                    About O.W. Bunker

OW Bunker AS is a global marine fuel (bunker) company founded in
Denmark.  The company declared bankruptcy on Nov. 7, 2014,
following its admission that it had lost US$275 million through a
combination of fraud committed by senior executives at its
Singaporean unit.

The Danish company placed its U.S. subsidiaries -- O.W. Bunker
Holding North America Inc., O.W. Bunker North America Inc. and
O.W. Bunker USA Inc. -- in Chapter 11 bankruptcy (Bankr. D. Conn.
Case Nos. 14-51720 to 14-51722) in Bridgeport, Conn., on Nov. 13,
2014.

The U.S. cases are assigned to Judge Alan H.W. Shiff.  The U.S.
Debtors have tapped Patrick M. Birney, Esq., and Michael R.
Enright, Esq., at Robinson & Cole LLP, as counsel.   McCracken,
Walker & Rhoads LLP is serving as co-counsel.  Alvarez & Marsal is
the financial advisor.


PARAGON OFFSHORE: Creditors Said to Hire Ducera for Debt Talks
--------------------------------------------------------------
Laura J. Keller, writing for Bloomberg News, reported that a group
of bondholders hired Ducera Partners as financial to help them
negotiate a debt restructuring deal with Paragon Offshore Plc, the
embattled oil drilling contractor, according to a person with
knowledge of the matter.

According to the report, the bondholders are discussing an
out-of-court reorganization, said the person.

The report related that Paragon said in September that it hired
Lazard and the law firm Weil, Gotshal & Manges to advise on
strategic alternatives for its $2.3 billion of debt, according to a
Sept. 17 statement.  The company, which was spun off from Noble
Corp. last year, owns a fleet of 40 rigs, mostly in shallow waters
from Mexico to the North Sea, the report related.

                          *     *     *

The Troubled Company Reporter, on Sept. 28, 2015, reported that
Moody's Investors Service owngraded Paragon Offshore plc's
(Paragon) Corporate Family Rating (CFR) to Caa2 from B2,
Probability of Default Rating (PDR) to Caa2-PD from B2-PD, senior
unsecured notes to Caa3 from Caa1, senior secured term loan to B3
from Ba3 and senior secured revolver to B3 from Ba3. The
Speculative Grade Liquidity Rating was changed to SGL-4 from SGL-3.
The outlook is negative. This concludes the rating review that was
initiated on August 24.


PLASKOLITE LLC: S&P Assigns 'B' CCR & Rates $345MM Facilities 'B+'
------------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to Plaskolite LLC.  The outlook is stable.

At the same time, based on preliminary terms and conditions, S&P
assigned a 'B+' issue-level rating (one notch above the corporate
credit rating) and a recovery rating of '2' to Plaskolite LLC's
proposed $345 million first-lien secured credit facilities,
consisting of a $40 million revolving credit facility and $305
million first-lien term loan.  The '2' recovery rating indicates
S&P's expectation of substantial (lower half of the 70% to 90%
range) recovery in the event of a default.  S&P also assigned a
'CCC+' issue-level rating (two notches below the corporate credit
rating) and a '6' recovery rating to the proposed $105 million
second-lien term loan.  The '6' recovery rating indicates S&P's
expectation for negligible (0% to 10%) recovery in the event of a
default.

"The ratings on Plaskolite LLC reflect our assessment of the
company's 'weak' business risk and 'highly leveraged' financial
risk profiles," said Standard & Poor's credit analyst Sebastian
Pinto-Thomaz.  "We classify the company's liquidity as 'adequate',
as defined in or criteria," he added.

The stable rating outlook on Plaskolite LLC reflects S&P's view
that over the next 12 months margins will improve in 2015 over 2014
and remain stable thereafter, as a result of its leading position
in the niche market in which it operates.  S&P do not expect
meaningful debt-funded acquisitions or shareholder rewards in its
rating.  S&P anticipates that the company's credit measures will
fall in the "highly leveraged" category; however, S&P assumes the
company will support credit measures at the stronger-end of the
"highly leveraged" category.  S&P expects the company to maintain
adjusted debt to EBITDA of about 6x and FFO to debt slightly above
12%.

S&P could lower the ratings in the next year if the company's
performance deteriorates as a result of increased raw material
costs or decreased end market demand, causing leverage measures to
weaken.  In addition, S&P could also lower the ratings if the
company were to make large debt-funded acquisitions or shareholder
rewards.  Based on S&P's downside scenario, it would expect FFO to
total adjusted debt to fall below 5% or total adjusted debt to
EBITDA to trend above 7x, without prospects for improvement over
the next 12 months.  Alternatively, if liquidity becomes
constrained without prospects for improvement, S&P would review the
rating.

S&P does not envisage an upgrade within the next 12 months.  S&P
could raise the ratings if the company reduced debt levels, such
that the FFO to total adjusted debt ratio exceeded 15% on a
sustainable basis and management is supportive of these levels.
S&P could raise ratings if the company strengthened its business
risk profile to the extent we assessed it to be "fair" or higher,
while maintaining credit measures and liquidity at currently
assumed levels.  However, in order to consider a higher rating,
management would have to demonstrate its commitment to maintaining
a prudent approach to balancing debt reduction, growth investment,
and returning capital to shareholders.



RELATIVITY FASHION: Court Approves Sheppard Mullin as Co-counsel
----------------------------------------------------------------
Relativity Fashion, LLC and its debtor-affiliates sought and
obtained permission from the Hon. Michael E. Wiles of the U.S.
Bankruptcy Court for the Southern District of New York to employ
Sheppard Mullin Richter & Hampton, LLP as bankruptcy co-counsel,
nunc pro tunc to the July 30, 2015 petition date.

The Debtors require Sheppard Mullin to:

   (a) advise the Debtors with respect to their powers and duties
       as debtors and debtors in possession;

   (b) prepare all necessary motions, applications, answers,
       orders, reports, and other papers in connection with the
       administration of the Debtors' estates;

   (c) attend meetings and negotiate with representatives of
       creditors and other parties in interest and advise and
       consult on the conduct of the cases, including all of the
       legal and administrative requirements of operating in
       chapter 11;

   (d) take all necessary action to protect and preserve the
       Debtors' estates, including the prosecution of actions, the

       defense of any actions commenced against the Debtors, the
       negotiation of disputes in which the Debtors are involved,
       and the preparation of objections to claims filed against
       the Debtors' estates;

   (e) review the nature and validity of agreements related to the

       Debtors' interest in real and personal property and advise
       the Debtors of their corresponding rights and obligations;

   (f) perform all other necessary legal services in connection
       with the prosecution of these chapter 11 cases;

   (g) serve as conflicts counsel on matters described in which
       Jones Day may have a conflict;

   (h) address issues with the Creditors' Committee, if any;

   (i) appear before the Court, any  appellate courts, and the
       U.S. Trustee, and protect the interests of the Debtors'
       estates before such courts and the U.S. Trustee; and

   (j) work with and coordinate efforts among other professionals
       to preclude any duplication of effort among those
       professionals and to guide their efforts in the overall
       framework of the Debtors' reorganization or liquidation.

Sheppard Mullin will be paid at these hourly rates:

       Craig A. Wolfe, lead partner      $730
       Partners                          $595-$1,010
       Special Counsel/Associates        $335-$875
       Paraprofessionals                 $170-$475

Sheppard Mullin will also be reimbursed for reasonable
out-of-pocket expenses incurred.

As of the Petition Date, Sheppard Mullin held a retainer in the
remaining amount of $146,698.31.

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

The following is provided in response to the request for additional
information set forth in Paragraph D.1 of the Fee Guidelines.

  -- Sheppard Mullin has represented the Debtors since January
     2013. The ordinary and customary billing rates used by
     Sheppard Mullin for the prepetition engagement during the 12
     months prepetition, subject to periodic adjustment that
     traditionally takes place each January 1. Sheppard Mullin's
     billing rates and material financial terms with respect to
     this matter have not changed post-petition.

  -- The Debtor has approved a preliminary budget and staffing
     plan for the first interim fee period. The Debtors and
     Sheppard Mullin are continuing to rationalize and refine the
     budget and staffing plan over the next 10 days.

Sheppard Mullin can be reached at:

       Craig A. Wolfe, Esq.
       SHEPPARD MULLIN
       RICHTER & HAMPTON, LLP
       30 Rockefeller Plaza
       New York, NY 10112
       Tel: (212) 653-8700
       Fax: (212) 653-8701

                     About Relativity Fashion

Based in New York, Relativity Fashion LLC dba M3 Relativity --
http://relativitymedia.com/-- is a privately-held entertainment   

company with an integrated and diversified global media platform
that provides, among other things, film and television financing,
production and distribution. Relativity was founded in 2004 by
Ryan Kavanaugh as a films late cofinancier partnering with major
Studios such as Sony and Universal.  In addition, the Company
engages in content production and distribution, including movies,
television, fashion, sports, digital and music.  

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

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

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

On August 7, 2015, the U.S. Trustee for Region 2 appointed seven
creditors to serve on the Debtors' official committee of unsecured
creditors.  The creditors are Allied Advertising Limited
Partnership, Carat USA Inc., Cinedigm Corp., Comen VFX LLC, Create
Advertising Group LLC, NBC Universal, and Technicolor Inc.


RELATIVITY FASHION: FTI Consulting Approved as Turnaround Manager
-----------------------------------------------------------------
Relativity Fashion, LLC and its debtor-affiliates sought and
obtained permission from the Hon. Michael E. Wiles of the U.S.
Bankruptcy Court for the Southern District of New York to employ
FTI Consulting, Inc. as crisis turnaround manager and to provide
the Debtors a chief restructuring officer, a deputy chief
restructuring officer and additional personnel, effective July 30,
2015.

Dr. Brian G. Kushner and Luke Schaeffer, both Senior Managing
Directors with FTI, will serve as the Debtors' CRO and DCRO,
respectively, and will provide the Debtors with additional
personnel to perform certain financial, operational, managerial and
bankruptcy-specific functions for the Debtors. The Engagement
Letter further provides for the services of certain temporary staff
of FTI to assist the Debtors.

FTI will be paid at these hourly rates:

       Senior Managing Directors          $800-$1,050
       Directors/Senior Directors/
       Managing Directors                 $595-$795
       Consultants/Senior Consultants     $315-$575
       Administrative/Paraprofessionals   $125-$250

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

Dr. Kushner, senior managing director of FTI, 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.

FTI can be reached at:

       Dr. Brian Kushner
       FTI CONSULTING, INC.
       2001 Ross Avenue, Suite 400
       Dallas, TX 75201
       Tel: (512) 415-2741
       Fax: (214) 614-9999
       E-mail: brian.kushner@fticonsulting.com

                     About Relativity Fashion

Based in New York, Relativity Fashion LLC dba M3 Relativity --
http://relativitymedia.com/-- is a privately-held entertainment   

company with an integrated and diversified global media platform
that provides, among other things, film and television financing,
production and distribution. Relativity was founded in 2004 by
Ryan Kavanaugh as a films late cofinancier partnering with major
Studios such as Sony and Universal.  In addition, the Company
engages in content production and distribution, including movies,
television, fashion, sports, digital and music.  

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

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

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

On August 7, 2015, the U.S. Trustee for Region 2 appointed seven
creditors to serve on the Debtors' official committee of unsecured
creditors.  The creditors are Allied Advertising Limited
Partnership, Carat USA Inc., Cinedigm Corp., Comen VFX LLC, Create
Advertising Group LLC, NBC Universal, and Technicolor Inc.


RELATIVITY MEDIA: Affiliate to Sell Rights to Movie to IM Global
----------------------------------------------------------------
An affiliate of Relativity Media LLC is selling its rights to an
upcoming film Autobahn to IM Global Film Fund LLC, according to
court filings.

Under the deal, the buyer agreed to pay $200,000 to RML DR Films
LLC no later than March 1, 2016.  IM Global also agreed to waive
its right to file a claim and withdraw the motion it filed in
September to reject its 2014 contract with RML.  

A copy of the sale agreement is available for free at
http://is.gd/fTetxr

RML initially agreed to release the film in the U.S. by the end of
this month.  The company, however, allegedly failed to fulfill its
obligations as distributor under the 2014 contract.

Last month, IM Global sought approval from a federal judge
overseeing RML's bankruptcy case to reject the contract.  

                    About Relativity Fashion

Based in New York, Relativity Fashion LLC dba M3 Relativity --
http://relativitymedia.com/-- is a privately-held entertainment   

company with an integrated and diversified global media platform
that provides, among other things, film and television financing,
production and distribution. Relativity was founded in 2004 by
Ryan Kavanaugh as a films late cofinancier partnering with major
studios such as Sony and Universal.  In addition, the Company
engages in content production and distribution, including movies,
television, fashion, sports, digital and music.  

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

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

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

On August 7, 2015, the U.S. Trustee for Region 2 appointed seven
creditors to serve on the Debtors' official committee of unsecured
creditors.  The creditors are Allied Advertising Limited
Partnership, Carat USA Inc., Cinedigm Corp., Comen VFX LLC, Create
Advertising Group LLC, NBC Universal, and Technicolor Inc.


RELATIVITY MEDIA: Sec. 341 Meeting Continued to Oct. 20
-------------------------------------------------------
The U.S. trustee overseeing the Chapter 11 cases of Relativity
Media LLC and its affiliates will continue the meeting of creditors
on October 20, 2015, at 3:00 p.m., according to a filing with the
U.S. Bankruptcy Court for the Southern District of New York.

The meeting will be held at the U.S. Trustee's Office, 4th Floor,
80 Broad Street, in New York.

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

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

                    About Relativity Fashion

Based in New York, Relativity Fashion LLC dba M3 Relativity --
http://relativitymedia.com/-- is a privately-held entertainment   

company with an integrated and diversified global media platform
that provides, among other things, film and television financing,
production and distribution. Relativity was founded in 2004 by
Ryan Kavanaugh as a films late cofinancier partnering with major
studios such as Sony and Universal.  In addition, the Company
engages in content production and distribution, including movies,
television, fashion, sports, digital and music.  

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

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

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

On August 7, 2015, the U.S. Trustee for Region 2 appointed seven
creditors to serve on the Debtors' official committee of unsecured
creditors.  The creditors are Allied Advertising Limited
Partnership, Carat USA Inc., Cinedigm Corp., Comen VFX LLC, Create
Advertising Group LLC, NBC Universal, and Technicolor Inc.


ROTONDO WEIRICH: Maschmeyer Karalis Okayed as Bankruptcy Counsel
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Pennsylvania
authorized Rotondo Weirich Enterprises, Inc., to employ Maschmeyer
Karalis P.C. as bankruptcy counsel.  In a verified statement, Aris
J. Karalis, Esq., assures the Court that his firm is a
"disinterested person" as that term is defined in Section 101 (14)
of the Bankruptcy Code.

                 About Rotondo Weirich Enterprises

Rotondo Weirich Enterprises and five of its affiliates sought
Chapter 11 protection (Bankr. E.D. Pa. Case Nos. 15-16146 -
15-16151) on Aug. 27, 2015.  The petitions were signed by Steven J.
Weirich, the president & CEO.  RWE estimated assets and liabilities
of at least $10 million.

The Debtors tapped Maschmeyer Karalis P.C. as counsel; and
EisnerAmper LLP as financial advisors.

Andrew Vara, acting U.S. trustee for Region 3, appointed three
creditors of RWE to serve on an official committee of unsecured
creditors.


SABOR HISPANO: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Sabor Hispano LLC
        4755 E. 49th St.
        Los Angeles, CA 90058

Case No.: 15-25600

Chapter 11 Petition Date: October 9, 2015

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

Judge: Hon. Thomas B. Donovan

Debtor's Counsel: Victor A Sahn, Esq.
                  SULMEYERKUPETZ
                  333 S Hope St 35th Fl
                  Los Angeles, CA 90071-1406
                  Tel: 213-626-2311
                  Fax: 213-629-4520
                  Email: vsahn@sulmeyerlaw.com

                    - and -

                  Steven Werth, Esq.
                  SULMEYERKUPETZ
                  333 S Hope St, 35th Flr
                  Los Angeles, CA 90071
                  Tel: 213-617-5210
                  Fax: 213-629-4520
                  Email: swerth@sulmeyerlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $10 million to $50 million

The petition was signed by Bradley Berman, chief executive
officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb15-25600.pdf


SAN BERNARDINO: Bankruptcy Judge Says More Information Is Needed
----------------------------------------------------------------
ABI.org reported that creditors objected to elements of the city of
San Bernardino's initial debt payment plan at a bankruptcy court
hearing on Oct. 8, 2015.

Ryan Hagen at The Sun reported that the bankrupt city of San
Bernardino will have to produce much more extensive information --
at a pace its advisers say will be grueling -- before it can clear
a vital hurdle in the path of bankruptcy plan confirmation, U.S.
Bankruptcy Judge Meredith Jury said on Oct. 8, 2015.

In large bankruptcy cases like San Bernardino's, it's common for
hearings on the adequacy of the disclosure statement filed in
support of the Plan of Adjustment to conclude more information is
needed.  And, based on objections from multiple creditors, that's
what happened in court on Oct. 8.

But some of the critiques of the plan itself were sharp.

"I will say I'm not optimistic," said Thomas R. Kreller, the
attorney for Ambac Assurance Corp., securer of $50 million in
pension obligation bonds for which the city proposes to pay
$500,000 total.  "And the reason I'm not optimistic is, as I think
you read from our objection, it is pretty clear the city plans to
pay unsecured (creditors) the least it can get away with, not the
most it can afford. ...  They're trying to disclose a plan that is
fundamentally flawed."

Jury said she wanted to save discussions on whether the plan itself
can be confirmed for later, but she added that she wanted more
information to show that the city's plan wouldn't lead to it
collapsing into a second bankruptcy in a few years.

"I don't really think it's in anybody's objection, but the public
perception -- the media perception -- of the two cities with
confirmed (bankruptcy exit) plans, that being Vallejo and Stockton,
is that they're already in trouble because they didn't impair
CalPERS," Jury said, referring to the decision -- also made by San
Bernardino -- to pay every cent of what they owe to the California
Public Employees' Retirement System as those costs grow. "... I
don't think there is adequate discussion of how much those raises
are going to be. I have heard other things, I think in this court,
that it is an exponentially increasing number that will have to be
paid in order to keep retirement plans intact. There comes a point
where no matter what I confirm it will fail."

The city's actuaries project as part of the bankruptcy exit plan
that $29 million a year will go to CalPERS by 2023-24, more than
double its current annual payment.

CalPERS' attorney Michael Lubic said the system didn't project out
that far for individual cities, but that in future years the cost
would decrease.

Among the creditors asking for more information was Vincent J.
Marriott III, the attorney for the Luxemburg-based bank known by
the initials EEPK, holder of the bonds secured by Ambac.

For instance, Marriott said the city needed to show the value of
properties held by the city and why many of them couldn't be sold
to pay creditors and explain why it wasn't pursuing tax increases,
as Stockton did in its bankruptcy exit plan.

                      The Chapter 11 Plan

As reported in the TCR, the City of San Bernardino has filed a Plan
for the Adjustment of Debts that involves the adjustment of claims
against the City of over $150 million, which includes $50 million
of unsecured bonds.

The city's plan, filed on May 14, 2015, provides for some
impairment of the City's secured bonds, and for more substantial
impairment of unsecured claims.  With respect to the City's secured
bondholders, the Plan provides for a payment of secured obligations
over time.  With respect to unsecured claims: holders of $50
million of unsecured bond claims will receive payments over time of
$640,000 plus interest; and holders of general unsecured claims, in
the aggregate amount of between approximately
$40 million to $50 million in claims, will receive a pro rata share
of $500,000 on or shortly after the Effective Date, for a 1%
recovery.

The Plan proposes full payments into the pension fund run by
California Public Employees' Retirement System, also known as
Calpers, which distributes that money to thousands of retired city
workers.

A copy of the Disclosure Statement filed May 29, 2015, is
available
for free at:

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

                     About San Bernardino

San Bernardino, California, filed an emergency petition for
municipal bankruptcy under Chapter 9 of the U.S. Bankruptcy Code
(Bankr. C.D. Cal. Case No. 12-28006) on Aug. 1, 2012.  San
Bernardino, a city of about 210,000 residents roughly 65 miles (104
km) east of Los Angeles, estimated assets and debts of more than $1
billion in the bare-bones bankruptcy petition.

The city council voted on July 10, 2012, to file for bankruptcy.
The move lets San Bernardino bypass state-required mediation with
creditors and proceed directly to U.S. Bankruptcy Court.

The city is represented that Paul R. Glassman, Esq., at Stradling
Yocca Carlson & Rauth.

San Bernardino joined two other California cities in bankruptcy:
Stockton, an agricultural center of 292,000 east of San Francisco,
and Mammoth Lakes, a mountain resort town of 8,200 south of
Yosemite National Park.

The City was granted Chapter 9 protection on Aug. 28, 2013.

The City filed on May 14, 2015, a Plan to exit court protection.
The Plan proposes to some bondholders a penny on the dollar but
maintains pension benefits for retired city workers.  The Plan
proposes to make full payments into the pension fund run by
California Public Employees' Retirement System.


SEQUENOM INC: Camber Capital Reports 13% Stake as of Oct. 1
-----------------------------------------------------------
Camber Capital Management LLC and Stephen DuBois disclosed in an
amended Schedule 13G filed with the Securities and Exchange
Commission that as of Oct. 1, 2015, they beneficially own
15,400,000 common shares, $0.001 par value, of Sequenom, Inc.,
representing 13 percent of the shares outstanding.  A copy of the
regulatory filing is available at http://is.gd/vHdypw

                          About Sequenom

Sequenom, Inc. (NASDAQ: SQNM) -- http://www.sequenom.com/-- is a
life sciences company committed to improving healthcare through
revolutionary genetic analysis solutions.  Sequenom develops
innovative technology, products and diagnostic tests that target
and serve discovery and clinical research, and molecular
diagnostics markets.  The company was founded in 1994 and is
headquartered in San Diego, California.

"If we fail to generate enough cash flow from our operations or
otherwise obtain the capital necessary to fund our operations, our
financial results, financial condition and our ability to continue
as a going concern will be adversely affected and we will have to
cease or reduce further commercialization efforts or delay or
terminate some or all of our diagnostic testing services or other
product development programs," the Company said in its 2014 annual
report.

As of June 30, 2015, the Company had $136.6 million in total
assets, $157.6 million in total liabilities and a $21 million total
stockholders' deficit.


SINBAD'S PIER II: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Sinbad's Pier II, Inc.
           aka Sinbad's
        Pier 2, Embarcadero St.
        San Francisco, CA 94111

Case No.: 15-31259

Nature of Business: Restaurant

Chapter 11 Petition Date: October 14, 2015

Court: United States Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Hon. Hannah L. Blumenstiel

Debtor's Counsel: Ivan C. Jen, Esq.
                  LAW OFFICES OF IVAN JEN
                  5820 California St
                  San Francisco, CA 94121
                  Tel: (415) 504-2706
                  Email: ivan@icjenlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Duane Stinson, vice president.

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


SK HOLDCO: S&P Affirms 'B' Corp. Credit Rating, Outlook Stable
--------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Richardson, Texas-based SK HoldCo LLC.  The rating
outlook is stable.

The issue-level rating on SK HoldCo LLC's upsized first-lien $100
million revolving credit facility and $520 million term loan B
remain 'B+'.  At the same time, S&P is revising its '2' recovery
rating band on the first-lien credit facilities to the lower half
of the range from the upper half of the range.  The '2' recovery
rating indicates S&P's expectation of substantial (70%-90%; lower
half of the range) recovery in the event of a default.  The
issue-level rating on the company's $300 million senior unsecured
notes remains 'CCC+' and the recovery rating remains '6'.  The '6'
recovery rating indicates S&P's expectation for negligible recovery
(0%-10%) in the event of a payment default.

SK HoldCo is an operator of light vehicle collision repair shops in
the U.S.  The company's economically resilient business model is
mitigated by its aggressive expansion strategy, which entails
integration risk (reflecting consolidation in the market) and its
narrow scope, scale, and diversity (the company conducts business
only in certain locales in the U.S. and it consists only of
collision repair services).

S&P's business risk profile assessment of "weak" reflects its view
of SK HoldCo's competitive position, based on its positioning with
leading insurers through partnership programs and demonstration of
good profitability.  SK continues to pursue its expected aggressive
acquisition strategy.  S&P believes that SK HoldCo's financial
policies will remain aggressive, given its majority ownership by
financial sponsors, which will likely preclude any significant debt
reduction over the next 12-18 months, supporting S&P's assessment
of SK Holdco's financial risk profile as "highly leveraged."  S&P
assess SK HoldCo's liquidity as "adequate."  This is a key
supportive factor for the rating.

The stable outlook reflects S&P's view that SK HoldCo will continue
to operate at recent gross margin levels or better, allowing the
company to generate a small amount of positive FOCF and maintain
sufficient liquidity despite its business strategy of growth
through acquisitions.

S&P could lower the rating within the next 12 months if the
company's operating prospects reverse and gross margins decline,
potentially due to integration risks associated with its strategy
of growth through acquisitions or technical labor wage pressure due
to heightened competition.  S&P could also consider a downgrade if
the company is not able to generate positive free cash flow
consistently for multiple quarters, adversely affecting liquidity,
or if its debt leverage increases from the already high existing
level on account of another debt-funded acquisition without clear
prospects for deleveraging.

S&P considers an upgrade unlikely during the next 12 months because
it believes SK HoldCo's financial policies will remain aggressive
under its financial sponsor, based on its large debt burden
relative to its size and our general view of the financial
sponsors' tolerance for financial risk.



TALEN ENERGY: Moody's Affirms Ba2 CFR, Outlook Negative
-------------------------------------------------------
Moody's Investors Service affirmed Talen Energy Supply's corporate
family rating at Ba2.  At the same time, Moody's assigned a Baa2
senior secured rating to the $400 million term loan currently being
marketed by Talen to finance the acquisition of MACH Gen. The
outlook is negative.

Assignments:

Issuer: Talen Energy Supply, LLC

  Senior Secured Bank Credit Facility (Local Currency), Assigned
   Baa2/LGD2

Outlook Actions:

Issuer: Talen Energy Supply, LLC

  Outlook, Remains Negative

Affirmations:

Issuer: Pennsylvania Economic Dev. Fin. Auth.

  Senior Unsecured Revenue Bonds, Affirmed Ba3/LGD4

Issuer: RJS Power Holdings LLC

  Senior Unsecured Regular Bond/Debenture, Affirmed Ba3/LGD4

Issuer: Talen Energy Supply, LLC

  Probability of Default Rating, Affirmed Ba2-PD
  Speculative Grade Liquidity Rating, Affirmed SGL-2
  Corporate Family Rating, Affirmed Ba2
  Senior Secured Bank Credit Facility, Affirmed Baa2/LGD2
  Senior Unsecured Regular Bond/Debenture, Affirmed Ba3/LGD4

RATINGS RATIONALE

Talen's Ba2 CFR rating reflects a combination of factors that
include the inherent volatility of the merchant power market which
is currently in the midst of a prolonged cyclical downturn, the
above average portfolio quality of its generation assets, and
similar levels of debt leverage relative to its independent
merchant energy peers.

Talen's rating considers the current poor merchant market
conditions with low commodity prices and oversupply.  The sharp
fall in gas prices of almost $1/MMBtu experienced in December 2014
has been sustained.  While the drop has not necessarily translated
to a similar fall in power prices in the forward market, Moody's
believes it is only a matter of time before forward power prices
will fall as well.  Despite the recent market design reforms, PJM's
latest capacity prices fundamentally reflect an oversupplied market
with a reserve margin of around 19.8% for the 2018/2019 delivery
year, well in excess of the 15.7% target reserve margin required
for reliability.

On a relative basis, Talen has an above average asset portfolio.
After accounting for FERC required divestments and the MACH Gen
acquisition, Talen operates with competitive size and scale (16 GW
of generating capacity) and a generation portfolio that has a good
mix of fuel type and merit order diversity.  Although Talen's
assets are geographically concentrated in the PJM market (70% by
generation capacity), we consider PJM to be among the most
favorable locations because it provides capacity payments to
generators scheduled three years ahead of the product delivery. The
MACH Gen acquisition, which include three high-efficiency gas-fired
plants in Massachusetts, New York and Arizona, will add 2.5 GW to
Talen's portfolio with more gas generation exposure and geographic
diversity.

Moody's expects Talen's financial leverage, as measured by CFO
Pre-WC/debt, to hover around 17% over the next eighteen months but
it is about 15% if nuclear fuel cost is included and 6% if both
nuclear fuel cost and sustaining capital expenditure are included.

Outlook

The negative outlook reflects the sustained downward trend in gas
and power prices in the unregulated markets in the US.

What Could Change the Rating - Up

The negative outlook limits the likelihood of a near term rating
upgrade.  Prospects for an upgrade would require a marked
improvement in the merchant power markets and CFO Pre-W/C to Debt
metrics rising to the mid-twenty percent range on a sustainable
basis which does not appear likely at this point.

What Could Change the Rating - Down

Moody's could downgrade Talen's rating if we believe that the
company's CFO-PreWC to debt will unlikely to recover to low twenty
percent range.

The principal methodology used in these ratings was Unregulated
Utilities and Unregulated Power Companies published in October
2014.



TALEN ENERGY: S&P Lowers ICR to 'B+' on Weak Finc'l. Measures
-------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its issuer
credit rating on Talen Energy Supply LLC to 'B+' from 'BB-'.  S&P
also lowered the secured debt rating to 'BB' from 'BB+' and the
unsecured debt rating to 'B+' from 'BB-'.  S&P removed the ratings
from CreditWatch, where it placed them with negative implications
on July 21, 2015.  The outlook is stable.  S&P is also assigning a
'BB' rating and '1' recovery rating to Talen's planned $400 million
senior secured term loan B.

The recovery ratings of '1' and '3' on the company's secured and
unsecured debt, respectively, remain unchanged.  The '1' recovery
rating on the secured debt indicates S&P's expectation of very high
(90% to 100%) recovery in the event of a default.  The '3' recovery
rating on the unsecured debt indicates S&P's expectation of
meaningful (50% to 70%; upper end of the range) recovery if a
default occurs.

During the past three months, Talen has announced several material
transactions.  First, in July, it entered into an agreement to
purchase MachGen LLC, an approximately 2.5 gigawatt portfolio of
three combined-cycle natural gas-fired plants in the Independent
System Operator—New England, New York Independent System
Operator, and Western Electricity Coordinating Council power
markets.  S&P expects the purchase price, exclusively debt funded
in the near term, to approach $1.2 billion.  More recently, Talen
announced the sale of 996 megawatts of its generating capacity in
the PJM Interconnection market, including the Ironwood facility in
Pennsylvania.

"We expect total sales proceeds to exceed $1.5 billion, and Talen
will apply some proceeds to paying down debt related to the
acquisition," said Standard & Poor's credit analyst Michael
Ferguson.

"Based on our assessment of the expected sale prices, as well as
financing mechanisms and changes in EBITDA based on the
transactions, we expect debt to EBITDA to increase beyond 4x during
the next two years.  Although we anticipate that the debt will
decrease starting in late 2016 as Talen uses sale proceeds from
upcoming transactions to pay down debt balances, we still believe
that these figures will not dip below 4x until late 2017, which
places this issuer in the "aggressive" financial risk profile
category.  We also note that free cash flow measures remain
comparatively weak for this issuer, and while we do not assume any
future acquisitions, we note that these could slow the company's
efforts to delever," S&P said.

"The outlook on the ratings is stable.  Based on the current
portfolio assets, we expect the enterprise to maintain adjusted
debt to EBITDA to exceed 4x during 2016 and 2017, based on our
assumption that gas-fired generation will continue to be relatively
advantaged based on low Henry Hub benchmark prices and increasing
environmental regulation.  We continue to believe that Talen will
be committed to maintaining reliability at its constituent plants,
as its predecessors did and that this will take on increased
importance," S&P noted.



TECK RESOURCES: Fitch Cuts Issuer Default Rating to 'BB+'
---------------------------------------------------------
Fitch Ratings has downgraded the Issuer Default Rating (IDR) of
Teck Resources Limited (Teck; NYSE: TCK; TSE: TCKb) to 'BB+' from
'BBB-' along with Teck's outstanding debt. The Rating Outlook
remains Negative. About C$9.1 billion in debt and US$4.2 billion in
senior unsecured credit facilities are affected by these rating
actions.

With the slowdown in China, Fitch believes there is an elevated
risk that metal and metallurgical coal prices will be lower for
longer, delaying Teck's ability to generate free cash flow (FCF)
and reduce financial leverage to levels where funds from operations
(FFO) adjusted leverage is less than 3x and FFO fixed charge
coverage is greater than 6x through 2020.

KEY RATING DRIVERS

The ratings reflect Teck's elevated financial leverage, strong
liquidity, long-lived reserves, leading low cost position in zinc,
leading position in the seaborne metallurgical coal market, and
solid core position in copper. The ratings also reflect weak
metallurgical coal pricing and softness in copper and zinc, as well
as our belief that the company is likely to experience limited
capex flexibility given required spending for the Fort Hills
project through 2017.

Globally, Teck is the second largest seaborne hard coking coal
producer after BHP-Mitsubishi Alliance and is at about the
mid-point of the cost curve (FOB port). Teck is in the top 15
largest copper producers, globally, with about average costs, and
is the third largest zinc producer, in the lowest quartile on
costs. Mine lives are generally over 20 years.

Coal accounted for 33% and copper accounted for 39% of segment
operating EBITDA in 2014. Canadian operations accounted for about
52% of 2014 gross profit before depreciation by region. Remaining
operations are in the U.S. (22%), Chile (10%) and Peru (16%).

Oversupply in Metallurgical Coal:

The outlook for metallurgical coal prices is weak given persistent
oversupply. Fitch expects this condition to persist through 2016
and result in lower profits and cash flow. Teck guides that a
US$1/tonne change in its coal realizations impacts profits by C$21
million. For 2014, Teck realized US$115/tonne on its coal sales on
average. For the first six months of 2015, Teck realized
US$101/tonne and Fitch believes this could fall further before
recovering in 2017. In May 2015, Teck announced rotating shutdowns
totalling three weeks in the third quarter at their metallurgical
coal mines. Further steps may be taken to reduce production in the
fourth quarter unless the supply-demand balance improves.

Fort Hills:

Teck guides to C$1 billion in new mine development for 2015
including C$850 million for the Fort Hills oil sands project in
Canada and C$60 million for its Frontier oil sands project. The
Fort Hills project, a partnership among Suncor Energy Inc. (50.8%),
Total E&P Canada Ltd. (29.2%) and Teck (20%), was sanctioned in the
fourth quarter of 2013. Teck's share of the project spending from
the date of project sanction is estimated at about C$2.94 billion
for the period 2014 through 2017. Production is not anticipated to
start before the end of 2017 but is expected to be at 90% capacity
within 12 months.

Although oil prices remain under near-term pressure, Fitch
acknowledges the diversification benefits of petroleum and
recognizes the quality of the Fort Hills project. The project is
expected to have cash costs in the range of C$20-C$24/barrel of
bitumen, excluding sustaining capex of roughly C$3/barrel, and a
50-year mine life.

Total capital guidance for the year is C$2.3 billion including
C$710 million of capitalized stripping and C$490 million of
sustaining capital.

High Financial Leverage:

Fitch expects FFO adjusted leverage to be above 3x while coal
prices are below US$125/tonne. For the latest 12 months (LTM) ended
June 30, 2015, FFO adjusted leverage was 4.25x, FFO fixed charge
coverage was about 5x, and total debt of C$9.1 billion-to-operating
EBITDA of C$2.5 billion was 3.6x. The company targets total
debt/EBITDA of less than or equal to 2.5x on average.

KEY ASSUMPTIONS

-- Production at reduced guidance and fairly flat after 2015;
-- Coal and copper unit cost decline with currency and fuel
    impacts as well as cost initiatives;
-- Fitch's mid-cycle commodity price assumptions;
-- Hard coking coal benchmark prices assumed to be US$95/tonne in

    2016, US$100/tonne in 2017, US$110/tonne in 2018, and
    US$115/tonne thereafter;
-- Capital expenditures at guidance and fairly flat through 2017
    given Fort Hill's spending.

RATING SENSITIVITIES

Positive: Future developments that may, individually or
collectively, lead to positive rating actions include:

-- The metallurgical coal market returns to balance faster than
    expected.

-- A sustainable meaningful reduction in debt and financial
    leverage.

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

-- Expectations of reduced economics on the Fort Hills project.

-- Expectations that FFO adjusted leverage would be sustained
    above 4x for an extended period.

LIQUIDITY

At June 30, 2015, liquidity included US$3 billion available under
the revolving credit facility (RCF) maturing in July 2020, US$1.2
billion available under the RCF maturing in June 2017, and C$1.3
billion in cash on hand. The credit facilities require Teck to
maintain a debt-to-total capitalization ratio of not more than
0.5x. At Dec. 31, 2014, the ratio was 0.31x.

On July 9, 2015, Teck announced that its 90%-owned subsidiary,
Compania Minera Teck Carmen de Andacollo, entered into a long-term
gold off-take agreement with a subsidiary of Royal Gold, Inc.
generating net proceeds of US$162 million.

On Oct. 7, 2015, Teck announced that it and a subsidiary entered
into a long-term streaming agreement with a subsidiary of
Franco-Nevada Corporation linked to production at the Antamina
mine. According to the announcement, Franco-Nevada will make an
upfront payment of US$610 million to Teck and will pay 5% of the
spot price at the time of delivery for each ounce of silver
delivered under the agreement.

As of Dec. 31, 2014, scheduled debt maturities over the next five
years are C$419 million in 2015, C$7 million in 2016, C$701 million
in 2017, C$584 million in 2018 and C$583 million in 2019. Fitch
expects the 2015 maturity to be repaid and 2017 maturities to be
refinanced.

Fitch expects operating EBITDA to be about C$2.1 billion in 2015
and negative FCF generation of as much as C$1 billion in 2015 after
C$2.3 billion in capital expenditures and C$345 million in
dividends.

Fitch expects FCF to be negative in 2016 and 2017 despite the cut
in semi-annual dividends per share from C$0.45 to C$0.15 announced
in April 2015. Fitch expects that the company will continue to fund
its share of Fort Hills and delay much of the other discretionary
capital spending while the price environment is weak.

Absent material recovery in commodity prices, Fitch anticipates
asset sales, additional cuts to the dividend or additional
borrowings will be required to fund Fort Hills by 2017. Fitch would
not expect material reduction of debt in advance of 2019.

FULL LIST OF RATING ACTIONS

-- Issuer Default Rating (IDR) downgraded to 'BB+' from 'BBB-';
-- Senior unsecured credit facilities downgraded to 'BB+' from
    'BBB-' and assigned a Recovery Rating of 'RR4';
-- Senior unsecured notes downgraded to 'BB+' from 'BBB-' and
    assigned a Recovery Rating of 'RR4'.

The Rating Outlook remains Negative.



TRI STATE TRUCKING: Case Summary & Largest Unsecured Creditor
-------------------------------------------------------------
Debtor: Tri State Trucking Company
        2917 South Main Street
        Mansfield, PA 16933
        Tel: 607-738-0566

Case No.: 15-04444

Type of Business: Trucking and Transportation

Chapter 11 Petition Date: October 13, 2015

Court: United States Bankruptcy Court
       Middle District of Pennsylvania (Williamsport)

Judge: Hon. John J Thomas

Debtor's Counsel: Henry W Van Eck, Esq.
                  METTE, EVANS, & WOODSIDE
                  3401 North Front Street
                  Harrisburg, PA 17110-0950
                  Tel: 717 232-5000
                  Fax: 717 236-1816
                  Email: hwvaneck@mette.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by William E. Robinson, president.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
AJ's                                Trade Vendor       $73,025

American Truck Stop                 Trade Vendor      $485,696
2720 South Main Street
Mansfield, PA 16933

Axion International Inc.            Trade Vendor       $52,200

B&K Equipment, LLC                  Trade Vendor       $54,799

Blue Cross - First Priority Life    Trade Vendor       $69,153

Bradco Supply Company               Trade Vendor       $19,200

Cleveland Brothers                  Trade Vendor      $250,866
P O Box 417094
Boston, MA 02241

FleetMatics USA, LLC                Trade Vendor      $249,119

Grant Smith Trucking                Trade Vendor       $30,000

Great Plains Oilfield Rental        Trade Vendor       $44,941

Hertz Equipment Rental              Trade Vendor       $95,405

Ironent, LLC                        Trade Vendor      $106,954

Jack Doheny Companies               Trade Vendor      $171,541

JJ Powell Fuel Management           Trade Vendor      $246,668

Mansfield Crane Service Corp        Trade Vendor      $209,665

Napa-Rakoski Automotive             Trade Vendor       $25,908

National Oilwell Varco              Trade Vendor       $46,231

Parentebeard, LLC                   Trade Vendor       $31,852

Somerset Regional Water Resources   Trade Vendor       $24,650

Western AG Enterprises Inc          Trade Vendor       $49,409


TRI STATE TRUCKING: Seeks to Employ Mette Evans as Attorney
-----------------------------------------------------------
Tri State Trucking Company is seeking approval of its application
to employ Mette, Evans & Woodside as its attorney.  The
professional services which Mette, Evans & Woodside will render
include, but are not limited to:

  (a) giving the Debtor legal advice regarding its powers and
      duties as Debtor-in-Possession in the continued operation of
      its business and management of its property;

  (b) preparing and filing on behalf of the Debtor, as Debtor-in-
      Possession, the original Petition and Schedules, and all
      necessary applications, complaints, answers, orders, reports
      and other legal papers;

  (c) representing the Debtor in any matters involving contests
      with secured or unsecured creditors;

  (d) negotiating and preparing on behalf of the Debtor plan of
      reorganization and related documents;

  (e) performing all other legal services for the Debtor as
      may be necessary.

The Debtor desires to employ Mette, Evans & Woodside on a general
pre-petition retainer of $20,000.  Services performed will be
credited against the retainer which will be security for those
services and expenses, with the retainer to be applied upon
approval of the Court.

All charges will be billed at the firm's standard hourly billing
rates otherwise in effect for comparable work performed by the law
firm, such rates currently being:

            Henry W. Van Eck               $300
            Partners                     $285-$315          
            Associates                     $180
            Paralegal Time                 $125

The Debtor has agreed to reimburse the firm for all other expenses
incurred in connection with its bankruptcy case including, among
others, telephone and telecopier charges; mail and express mail
charges; photocopying charges; travel expenses; and computerized
research.

To the best of the Debtor's knowledge, Mette, Evans & Woodside
represents no other entity in connection with this case and is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                       About Tri State Trucking

Tri State Trucking Company filed Chapter 11 bankruptcy petition
(Bankr. M.D. Pa. Case No. 15-04444) on Oct. 13, 2015.  William E.
Robinson signed the petition as president.  The Debtor estimated
assets in the range of $10 million to $50 million and liabilities
of at least $1 million.  Mette, Evans, & Woodside represents the
Debtor as counsel.  Judge John J Thomas is assigned to the case.

The Debtor is an operator of a trucking and transportation company
in Mansfield, Pennsylvania.


US STEEL: Moody's Puts Ba3 CFR Under Review for Downgrade
---------------------------------------------------------
Moody's Investors Service placed United States Steel Corporation's
Ba3 Corporate Family Rating, Ba3-PD Probability of Default rating,
B1 senior unsecured notes and B1 industrial revenue bond ratings
supported by US Steel and (P)B1 senior unsecured shelf rating under
review for downgrade.  The SGL-2 speculative grade liquidity rating
was affirmed.

On Review for Downgrade:

Issuer: United States Steel Corporation

  Corporate Family Rating, Ba3, Placed on Review for Downgrade

  Probability of Default Rating, Ba3-PD, Placed on Review for
   Downgrade

  Senior Unsecured Shelf, (P)B1, Placed on Review for Downgrade
  Senior Unsecured Conv./Exch. Bond/Debenture, B1 (LGD4), Placed
   on Review for Downgrade

  Senior Unsecured Regular Bond/Debenture, B1 (LGD4), Placed on
   Review for Downgrade

Issuer: Allegheny County Industrial Dev. Auth., PA
  Senior Unsecured Revenue Bonds, B1 (LGD4), Placed on Review for
   Downgrade

Issuer: Bucks County Industrial Development Auth., PA

  Senior Unsecured Revenue Bonds, B1 (LGD4), Placed on Review for
   Downgrade

Issuer: Gulf Coast Waste Disposal Authority, TX

  Senior Unsecured Revenue Bonds, B1 (LGD4), Placed on Review for
   Downgrade

Issuer: Indiana Finance Authority
  Senior Unsecured Revenue Bonds, B1 (LGD4), Placed on Review for
   Downgrade

Issuer: Lorain County Port Authority, OH

  Senior Unsecured Revenue Bonds, B1 (LGD4), Placed on Review for
   Downgrade

Issuer: Ohio Air Quality Development Authority

  Senior Unsecured Revenue Bonds, B1 (LGD4), Placed on Review for
   Downgrade

Issuer: Ohio Water Development Authority

  Senior Unsecured Revenue Bonds, B1 (LGD4), Placed on Review for
   Downgrade

Issuer: Southwestern Illinois Development Authority

  Senior Unsecured Revenue Bonds, B1 (LGD4), Placed on Review for
   Downgrade

Issuer: Utah (County of) UT

  Senior Unsecured Revenue Bonds, B1 (LGD4) Placed on Review for
   Downgrade

Affirmations:

Issuer: United States Steel Corporation

  Speculative Grade Liquidity Rating, Affirmed SGL-2

Outlook Actions:

Issuer: United States Steel Corporation

  Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

The review for downgrade results from the deterioration in U.S.
Steel's performance and debt protection metrics and expectations
that continued contraction will be evidenced given the challenging
conditions facing the US steel industry, particularly for
flat-rolled and tubular products.  In addition, given ongoing weak
fundamentals in the drilling industry and U.S. Steel's exposure to
the OCTG (Oil Country Tubular Goods) market, performance in the
third quarter of 2015 is expected to continue to result in losses.
Given industry fundamentals, no material turnaround is expected
over the next several quarters.  For the second quarter ended June
30, 2015 the company's EBIT/interest metric turned negative, after
adjusting for non-cash charges associated with further write downs
on U.S. Steel Canada and other non-cash charges while leverage, as
measured by the debt/EBITDA ratio increased, on a twelve month
basis, to 3.2x.  Notwithstanding the company's success with its
Carnegie Way program, given the ongoing weak industry fundamentals,
these metrics are expected to show further deterioration in the
third quarter of 2015 and for the balance of the year.

The US steel industry continue to struggle with challenging market
conditions with 2015 evidencing weaker capacity utilization rates
and meaningful price deterioration.  U.S. Steel's capacity
utilization in the second quarter of 2015 was 58%.  While key input
costs for scrap, iron ore and metallurgical coal have also declined
significantly, this has not been sufficient to help earnings,
particularly for integrated producers such as U.S. Steel given the
degree of price degradation and weaker capacity utilization rates
relative to fixed cost absorption.  The industry also continues to
be pressured by high import levels and in the case of U.S. Steel
weak energy markets, which will continue to materially impact the
performance of the tubular segment
The review will focus on U.S. Steel's ability to further reduce
costs through the Carnegie Way program, expected costs per ton,
level of spot and contract value added sales and the ability of the
company to be at least break even free cash flow generation. The
review will also focus on the end markets to which U.S. Steel sells
and the expected demand from such markets as well as the time
horizon over which an improved performance by US Steel is likely to
be realized.

The principal methodology used in these ratings was Global Steel
Industry published in October 2012.

Headquartered in Pittsburgh, Pennsylvania, United States Steel
Corporation is the second largest flat-rolled steel producer in
North America in terms of production capacity.  The company
manufactures and sells a wide variety of steel sheet, tubular, and
tin products across a broad array of industries, including service
centers, transportation, appliance, construction, containers, and
oil, gas and petrochemicals.  Through its major production
operations in North America and Central Europe, U.S. Steel has a
combined annual raw steel capacity of approximately 24 million
tons.  Revenues for the twelve months ended June 30, 2015 were
$14.8 billion down from $17.5 billion for the twelve months ended
Dec. 31, 2014.



VINCE LLC: Moody's Affirms B2 CFR & Changes Outlook to Negative
---------------------------------------------------------------
Moody's Investors Service affirmed Vince, LLC's B2 Corporate Family
Rating and B2-PD Probability of Default Rating, but lowered the
company's Speculative Grade Liquidity Rating to SGL-3 from SGL-2.
The rating on the company's senior secured first lien term loan due
2019 was downgraded to B3 from B2 per Moody's Loss Given Default
Methodology, and the rating outlook was changed to Negative from
Stable.

The downgrade to Vince's SGL rating reflects Moody's expectation
that liquidity will be constrained over the next 12-18 months
driven by weaker than anticipated operating performance, minimal
balance sheet cash and higher borrowings on the company's $80
million ($70 million loan cap) Asset Based Revolving Credit
Facility during peak usage periods.  Further pressuring liquidity
is a $22.8 million payment to Sun Cardinal LLC, an affiliate of its
equity sponsor Sun Capital Partners, Inc., due Sept. 15, 2016,
associated with a Tax Receivable Agreement between the two
companies.  Internally generated cash and availability under the
company's ABL facility needed to cover the TRA payment will be
highly dependent on operating performance and working capital
swings over the period, but the SGL-3 rating (signifying adequate
liquidity) is based on Moody's assumption that Sun Capital would be
willing to amend the agreement again if needed (the payment date
was extended once before from the fourth quarter of 2015).  In
addition, Moody's believes the company has some flexibility with
regard to growth capital expenditures and working capital spending
if liquidity became meaningfully pressured.

The downgrade of the term loan to B3 from B2 reflects both the term
loan's lower rank within the capital structure and its size
relative to the company's upsized ABL facility that was increased
to $80 million from $50 million in June 2015.  The term loan is
secured by a second lien position on the more liquid assets
(accounts receivable and inventory) behind the ABL facility, and a
first lien on essentially all other domestic assets.  Consequently,
Moody's treats the ABL as having a priority position in the capital
structure when applying its Loss Given Default Methodology.  In
addition, as a result of an increase in the ABL borrowing base and
Moody's expectation for greater reliance on the facility, the ABL
will continue to represent a more meaningful share of the capital
structure in the future.

The change in outlook to negative reflects the company's recent
earnings declines and revised guidance, as well as Moody's view
that soft operating performance could further weaken Vince's
liquidity profile over the next 12-24 months which could pressure
the rating.

Moody's took these rating actions:

Issuer: Vince, LLC

  Corporate Family Rating, Affirmed at B2

  Probability of Default Rating, Affirmed at B2-PD

  $175 million senior secured first lien term loan due 2019 ($50
   million outstanding), Downgraded to B3, LGD-4 from B2, LGD-4

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

RATINGS RATIONALE

Vince's B2 Rating reflects the company's limited scale and high
product concentration in premium priced women's apparel.  Moody's
believe this segment appeals to a limited number of consumers and
is subject to very high fashion risk and fluctuating consumer
tastes, as evidenced by recent weak operating performance.  The
rating also reflects the company's relatively limited track record
with the brand established in 2002, as well has high distribution
concentration at luxury department stores.  The 3 largest customers
(Nordstrom, Saks Fifth Avenue and Neiman Marcus) represented 49% of
total revenue in fiscal 2014.  The rating is supported by Vince's
strong credit metrics for the B2 rating category.  Moody's
estimates adjusted leverage (Debt/EBITDA, adjusted for operating
leases) for the LTM period ending August 1, 2015 at around 2.3
times with interest coverage (EBITA/Interest) over 4.5 times.

Moody's expects close to breakeven free cash flow (cash flow from
operations less capital spend) over the next 12-18 months, highly
dependent on working capital fluctuations, capital spending, and
consumer receptivity to the brand.  As of Aug. 1, 2015, the company
had less than $1 million of cash on the balance sheet, which is
consistent with recent historical cash management, and access to an
$80 million asset-based revolving credit facility due 2020 ($70
million loan cap), of which about $28 million remains available.
Over the next few quarters Moody's expects the company will utilize
its revolver to fund working capital during peak periods and make
modest repayments to borrowings during periods with positive free
cash flow.  However, Moody's believes the company's ability to make
the $22.8 million payment to Sun Cardinal in September 2016 through
balance sheet cash and revolver availability is questionable.  In
the event the company was unable to make the payment, Moody's
expects it would be successful in obtaining an additional amendment
to the agreement to once again push out the due date.

The company's term loan contains a net leverage ratio test and the
ABL facility contains a springing minimum EBITDA test ($20 million)
if availability falls below the greater of 15% of the loan cap or
$10 million.  Moody's expects the company will remain compliant
with both tests over the next 12-18 months.  As a mono-brand
specialty retailer with substantially all assets pledged to
lenders, there are no material alternative sources of liquidity.

The negative rating outlook reflects Moody's expectation that weak
operating performance and the $22.8 million TRA payment due in
September 2016 will constrain liquidity for the company over the
next 12-18 months which could pressure the rating.  Moody's would
stabilize the rating outlook if the company is able to reverse
recent revenue declines and drive profitable growth in its
wholesale and direct to consumer channels, while maintaining good
liquidity.

In view of the negative rating outlook, upward rating pressure is
unlikely over the near term.  However, an upgrade would require (i)
an improved liquidity profile with sustained positive free cash
flow and meaningful availability under its revolving credit
facility (ii) a continued reduction of its dependence on luxury
department stores by expansion of its direct to consumer presence
through new store openings, international expansion, and e-commerce
and (iii) evidence its new product initiatives are resonating with
their core customers while sustaining debt/EBITDA below 4 times.

Ratings could be downgraded if the company were to experience
continued negative trends in revenue and operating margins, further
pressuring the company's liquidity.  Quantitatively, ratings could
be downgraded if debt/EBITDA was sustained above 4.75 times.
Ratings could also be lowered if the company's financial policies
were to become more aggressive resulting in weakening credit
metrics.

The principal methodology used in these ratings was Global Apparel
Companies published in May 2013.

Vince LLC. designs, manufactures and markets apparel for women and
men under the "Vince" brand.  The company's products are sold
globally in luxury department stores such as Neiman Marcus,
Nordstrom, Saks Fifth Avenue and Harrods, as well as in the
company's branded retail stores and on its ecommerce website.  As
of Aug. 1, 2015, the company operated 42 stores in the United
States and generated LTM revenue of approximately $337 million.



VIPER VENTURES: Wells Fargo Balks at Exclusivity Extension Bid
--------------------------------------------------------------
Wells Fargo Bank, as successor-by-merger to Wachovia Bank, N.A.,
asks the Bankruptcy Court in Tampa, Florida, to throw out the door
the request of debtor Viper Ventures LLC for an extension of its
exclusive periods to file and solicit acceptances of a Chapter 11
plan.

Wells Fargo, which served as pre-bankruptcy lender to the Debtor,
said Viper cannot meet its burden of showing "unusual
circumstances" affecting its ability to timely propose a plan and
solicit acceptances.  The Debtor has already proposed its Plan, as
amended, and the Court has likewise set the deadline for the Debtor
to solicit acceptances as prior to the Sept. 25, 2015 preliminary
confirmation hearing.  Wells Fargo said the only material issues
addressed by the Plan in this two-party dispute are the valuation
of the Lender's collateral and the subsequent treatment of Wells
Fargo.  All issues relating to the potential confirmation of the
Plan or dismissal of this case were to be addressed preliminarily
on Sept. 25 and finally on an evidentiary basis by Oct. 20, 2015.

Consequently, while Wells Fargo does not have an objection to
extending exclusivity for the Debtor to solicit acceptances to the
current plan, the Lender objects to the Debtor seeking to extend
exclusivity past that date to file a plan or solicit acceptances
just to have a second chance at confirming a different plan after
failing once.

Viper owns approximately 31 acres on Rattlesnake Pointe, described
by the Debtor as contiguous waterfront land just south of Gandy
Boulevard. The members of the Debtor are 18 individuals and
entities, all of whom executed a limited amount Guaranty of Payment
and Performance of the indebtedness owing by the Debtor to the
Lender. Each guaranty percentage is tied to each person or entity's
ownership percentage in the Debtor.  Moreover, the two Guaranty(s)
of Payment and Performance (reaffirmed on various occasions)
contain an express waiver of any right of subrogation or
reimbursement (i.e., contribution or indemnity) in favor of the
Member/Guarantors until Lender is paid in full.  Prior to the
bankruptcy filing, the Debtor, and/or the Member/Guarantors, as
applicable, executed in favor of, and delivered to the Lender
certain loan documents providing a Lender a first priority blanket
lien on all of Debtor's real and personal property.

On April 17, 2015, the Debtor filed its Amended and Restated Plan
of Reorganization and Disclosure Statement.

On June 5, the Court entered its Consolidated Order Rescheduling
Preliminary and Final Confirmation Hearings and Setting Hearings on
Motions to Dismiss Bankruptcy Case.  The Order set a final
evidentiary hearing on confirmation or dismissal for Oct. 13, 14,
16, 19 and 20.

On the same date, the Court entered its Amended Order Conditionally
Approving First Amended and Restated Disclosure Statement, Fixing
the Time to File Objections to the Disclosure Statement, Fixing
Time to File Applications for Administrative Expenses, Setting
Preliminary Hearing on Confirmation of the Plan and Setting
Deadlines with Respect to Confirmation Hearing.  This Order set,
among other things, a deadline of 96 hours before the preliminary
confirmation hearing on Sept. 25 for the Debtor to file its ballot
tabulation.

On July 29, the Debtor filed its Motion seeking to extend both
exclusivity periods for the Debtor to file a plan and solicit
acceptances. The Motion seeks a deadline of Oct. 28 to file a plan
and Dec. 28 to solicit acceptances.

                       About Viper Ventures

Viper Ventures, LLC, is a Florida limited liability company that
owns 31 acres of waterfront land on Rattlesnake Point just south of
Gandy Boulevard in Tampa, Florida.

Viper Ventures filed a Chapter 11 bankruptcy petition (Bankr.
M.D. Fla. Case No. 15-bk-03404) in Tampa, Florida, on April 1,
2015.  The case is assigned to Judge Catherine Peek McEwen.

The Debtor is represented by Edward J. Peterson, III, Esq., at
Stichter, Riedel, Blain & Prosser, PA, in Tampa, Florida.

The Debtor disclosed $6,669,137 in assets and $16,110,224 in
liabilities as of the Chapter 11 filing.

Lender Wells Fargo Bank is represented by:

     Andrew M. Brumby, Esq.
     SHUTTS & BOWEN LLP
     300 S. Orange Avenue, Suite 1000
     Orlando, FL 32801
     Telephone: (407) 835-6901
     Facsimile: (407) 849-7201
     E-mail: abrumby@shutts.com

          - and -

     Ryan C. Reinert, Esq.
     SHUTTS & BOWEN LLP
     4301 W. Boy Scout Blvd., Suite 300
     Tampa, FL 33607
     Telephone: (813) 229-8900
     Facsimile: (813) 229-8901
     E-mail: rreinert@shutts.com


WAUSAU PAPER: Moody's Puts B2 CFR Under Review for Upgrade
----------------------------------------------------------
Moody's Investors Service placed the B2 Corporate Family Rating and
B2-PD Probability of Default Rating of Wausau Paper Corp. under
review for upgrade following the company's announcement that it has
signed a definitive agreement to be acquired by Svenska Cellulosa
Aktiebolaget SCA (SCA) (Baa1 stable).  Moody's also placed Wausau's
B2 senior secured term loan rating under review for upgrade.  The
SGL-3 speculative grade liquidity rating is unchanged.

Moody's placed these ratings under review for upgrade:

   -- B2 Corporate Family Rating
   -- B2-PD Probability of Default Rating
   -- B2 (LGD 3) rating on $175 million senior secured term loan B

      due 7/30/2020
   -- Outlook, changed to Rating under Review from Stable

RATINGS RATIONALE

The review follows Wausau's announcement that SCA has agreed to
acquire Wausau for a total consideration of $687 million, including
the assumption of debt of approximately $174 million. SCA will
acquire Wausau shares for $513 million ($10.25 a share or a 40.6%
premium to the October 12 share closing price).

The review for upgrade reflects expectations that acquisition by
SCA will improve Wausau's credit profile, as the debt will be
guaranteed by SCA.  Additionally, the acquisition will increase
SCA's market share in the North American away-from-home tissue
market, while improving Wausau's operational, product and customer
diversity.  Wausau's ratings are constrained by its limited scale
and diversity, as it is a small pure-play tissue producer for North
American away-from-home market with only two operating facilities
and a fairly high customer concentration.  Sweden-based SCA is a
diversified integrated paper and forest product company with sales
in more than 100 countries and significant financial and
operational scale.  According to the merger agreement, Wausau will
become a wholly-owned subsidiary of SCA's North American
operations.

The acquisition by SCA expects to generate $40 million of synergies
from reduced costs related to sourcing, production, logistics,
headcount.  SCA expects one-time integration costs of $50 million.

The boards of directors of both companies have unanimously approved
a definitive merger agreement, but the transaction is subject to
Wausau shareholder and regulatory approvals and is expected to
close in the first quarter of 2016.  The completion of the deal is
not conditioned on SCA's access to financing.  Wausau will have to
pay SCA a $18.2 million termination fee under certain
circumstances, including if Wausau terminates its agreement with
SCA to enter into a superiore transaction, and SCA will be required
to pay Wausau a $26 million fee if the transaction fails to clear
regulatory approvals.

SCA has not disclosed how it would fund the transaction and its
ultimate plans regarding Wausau's senior secured term loan, but
Moody's understands that SCA will seek additional long-term debt
financing to fund the acquisition.  In the meantime, SCA has agreed
to guarantee all of the obligations of Wausau Paper, subject to the
merger agreement.  The review will focus on the likely closing of
the transaction and guarantee structure for the term loan.
Assuming the guarantee is unconditional and irrevocable for the
prompt repayment of the loan, the rating would be upgraded to SCA's
Baa1 level.  The rating on the term loan would be withdrawn if it
is repaid.

Wausau manufactures and markets towel and tissue products along
with soap and dispensing systems through multiple brands for the
commercial and industrial away from home market in North America.
Headquartered in Mosinee, Wisconsin, Wausau operates two paper
mills located in Harrodsburg, KY and Middletown, OH.  Wausau
generated revenues of approximately $360 million for the twelve
months ending June 30, 2015.

SCA develops and produces personal care products, tissue,
publication papers and solid wood products.  The company generates
its sales in more than 100 countries and has a global work force of
approximately 44,000 employees.  SCA is also the leading private
forestland owner in Europe, which offers important raw material
access to produce solid-wood, pulp (26% self-sufficient and mainly
for use in tissue production), kraftliners and publication papers.
Sales for the twelve months ending June 30, 2015 amounted to
approximately $13.4 billion (SEK111.17 billion).

The principal methodology used in these ratings was Global Paper
and Forest Products Industry published in October 2013.



WESTRIDGE DENTAL: Case Summary & 15 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Westridge Dental Group, Ltd.
        3000 North Litchfield Road, Suite 110
        Goodyear, AZ 85395

Case No.: 15-13076

Chapter 11 Petition Date: October 13, 2015

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

Judge: Hon. Paul Sala

Debtor's Counsel: Allan D. Newdelman, Esq.
                  ALLAN D NEWDELMAN PC
                  80 E. Columbus Ave.
                  Phoenix, AZ 85012
                  Tel: 602-264-4550
                  Fax: 602-277-0144
                  Email: anewdelman@adnlaw.net

Total Assets: $154,175

Total Liabilities: $2.05 million

The petition was signed by Robert Kasper, president.

A list of the Debtor's 15 largest unsecured creditors is available
for free at http://bankrupt.com/misc/azb15-13076.pdf


XPO LOGISTICS: Moody's Confirms B1 CFR, Outlook Stable
------------------------------------------------------
Moody's Investors Service confirmed the corporate family rating of
XPO Logistics, Inc. at B1, assigned a Ba1 to the company's new
secured term loan and downgraded senior unsecured notes to B2 from
B1.  Moody's also raised the Speculative Grade Liquidity rating to
SGL-2 from SGL-3.  The rating outlook is stable.  This action
concludes the review for downgrade that commenced on September
10th.  The review followed the announcement by XPO that it had
agreed to purchase Con-way Inc.

RATINGS RATIONALE

"The purchase of Con-way provides a key business, less than
truckload, which was missing from XPO's offerings, and it brings a
leading position in that market," said Chris Wimmer, senior credit
officer and Moody's lead analyst for XPO.  "That said, we expect
XPO to focus on integration, achieving synergies and deleveraging
for the next couple years.  The firm's B1 rating will not withstand
further large acquisitions until those objectives are achieved."

Debt to EBITDA (after Moody's standard adjustments for leases and
pension) is expected to be considerably above other B-rated
logistics companies at least through the end of 2015.  As the
recent acquisitions are digested, we expect EBITDA expansion to
drive down leverage to 4.5 to 5.0 times by 2016 year-end, as cash
flow increases from realized cost savings and increased business
from new and existing customers.

In Moody's view, XPO's recent acquisitions represent a strategy
change, with assets introduced into a heretofore asset-lite
operation.  This increases capex needs and lowers free cash flow,
negatively impacting XPO's credit profile.  However, owned assets
are a necessity in the mature LTL market and provide direct control
of transportation, which is crucial when capacity becomes
constrained across logistic modes.

The liquidity profile of XPO is good, as reflected in the firm's
SGL-2 Speculative Grade Liquidity rating.  Cash after funding the
Con-way purchase is expected to be nearly $600 million and is
likely to be supplemented with proceeds from strategic
dispositions.  There are no material debt maturities until 2019,
and near term obligations can be funded through internal funds. The
firm's revolver is expected to have ample availability after
closing well in excess of annual capex needs.

The new term loan, in addition to the upsized revolver places
significant secured debt above XPO's senior unsecured notes.  This
results in a downgrade for the notes, to B2 from B1.

The stable rating outlook reflects Moody's expectation that XPO
will focus on integrating recently acquired companies while
reducing leverage and increasing free cash flow for the next 18 to
24 months.

XPO's ratings are unlikely to be considered for upgrades until such
time that XPO has completed the integration of its recent
acquisitions and its financial results demonstrate the achievement
of meaningful cost savings.  The ratings could be upgraded if XPO
achieves sustainable improvement in operating margins, Debt to
EBITDA of less than 4.0 times and FFO + Interest to Interest of
more than 4.0 times.

The ratings will likely be downgraded should XPO pursue another
large acquisition prior to such time that Moody's believes
meaningful synergies have been achieved from prior mergers and
integration is substantially complete.  The ratings could also be
downgraded if Debt to EBITDA is above 5.5 times or higher at the
end of 2016, or if FFO + Interest to Interest weakens towards 2.5
times from an expected level of more than 3.0 times.

The Con-way notes remain under review for downgrade.  During its
review, Moody's will consider how Con-way will fit into the XPO
organization structure and whether there will be sufficient
information to maintain a separate rating on the Con-way debt going
forward.  There is a change of control provision on Conway's Notes
due 2018, but not on the Notes due 2034.  The ratings would be
withdrawn if the Notes are redeemed.

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

Downgrades:

Issuer: XPO Logistics, Inc.
  Senior Unsecured Regular Bond/Debenture, Downgraded to B2 (LGD4)

   from B1 (LGD4)

Assignments:
  Senior Secure Term loan B, assigned Ba1 (LGD2)

Raised Ratings:

Issuer: XPO Logistics, Inc.
  Speculative Grade Liquidity Rating, raised to SGL-2 from SGL-3

Confirmations:

Issuer: XPO Logistics, Inc.
  Probability of Default Rating, Confirmed at B1-PD
  Corporate Family Rating, Confirmed at B1

Outlook Actions:

Issuer: XPO Logistics, Inc.
  Outlook, Changed To Stable From Rating Under Review

XPO Logistics, Inc. (NYSE: XPO) is a provider of supply chain
solutions to companies throughout the world.  The company offers
value-added services for truck brokerage and transportation, last
mile logistics, intermodal rail and drayage, contract logistics,
ground and air expedite, global forwarding and managed
transportation.  XPO serves more than 30,000 global customers with
a network of over 54,000 employees and 887 locations in 27
countries.  Moody's anticipates that XPO will generate revenues in
excess of $15 billion in 2015, pro forma for the Con-way and
Norbert Dentressangle acquisitions.



XPO LOGISTICS: S&P Assigns 'BB-' Rating on Proposed $1.75BB Loan
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' issue-level
rating and '1' recovery rating to Greenwich, Conn.-based XPO
Logistics Inc.'s proposed new $1.75 billion term loan B.  The '1'
recovery rating indicates S&P's expectation of very high (90%-100%)
recovery for debtholders in the event of a payment default. The
company will use the proceeds from this term loan to finance its
acquisition of Con-Way Inc., which was announced on Sept. 9, 2015.
The company also intends to expand the size of its asset-based
lending (ABL) revolver to $1 billion (unrated).

At the same time, S&P is placing its 'B' issue-level rating and '4'
recovery rating on the company's existing senior unsecured notes on
CreditWatch with negative implications.  S&P will resolve the
CreditWatch placement once XPO's acquisition of Con-Way closes,
which the company expects to occur later this month.

S&P's ratings on XPO reflect its highly leveraged capital
structure, its aggressive growth strategy, and its position as one
of the largest and most diversified providers in the fragmented
U.S. third-party logistics market.  The acquisition of Con-Way
should expand the company's competitive position by increasing its
scale, the scope of its services, and its product diversity.  It
also changes the company's traditionally asset-light model as
Con-Way's truck fleet is included in the acquisition.  S&P do not
believe that any of these factors support a revision of its "fair"
assessment of the company's business risk profile, which remains
limited by its weak operating efficiency (owing to its EBITDA
margins, which have suffered from the company's rapid growth path).
Integration risk also remains somewhat of a concern, as XPO has
embarked on two large, transformative acquisitions (Norbert
Dentressangle in August followed by Con-Way in September) within
the span of a month. Earlier this year, the company set aggressive
growth targets of $9 billion in revenues and $575 million of EBITDA
by 2017.  Pro forma for the acquisitions of Norbert Dentressangle
and Con-Way, XPO's revenues and earnings will double management's
2017 growth targets, rising to about $15 billion and $1.1 billion,
respectively. XPO is supplementing its growth-by-acquisition
strategy with internal investments to further expand its scale and
scope.

XPO expects the Con-Way acquisition to close by the end of October.
The firm's funds from operations (FFO)-to-debt ratio fell to just
1.8% for the last 12 months ended June 30, 2015, however, this
included only a partial year of cash flows from its acquired
businesses and all of the debt.  By the end of 2015, S&P expects
this metric to improve to the mid-single digit percent area.  The
company's FFO-to-debt ratio should improve further after that,
climbing to the mid-double digit percent area by the end of 2017,
which includes a full year of contributions from Con-Way and
Norbert Dentressangle.

RECOVERY ANALYSIS

Key analytical factors for recovery:

   -- S&P has completed a review of the recovery analysis taking
      into account the company's proposed acquisition of Con-way
      Inc.

   -- S&P has assigned its 'BB-' issue-level rating and a '1'
      recovery rating to XPO's proposed $1.75 billion senior
      secured term loan.

Simulated default and valuation assumptions:

   -- Simulated year of default: 2018
   -- EBITDA at emergence: $700 million
   -- EBITDA multiple: 5.0x

Simplified waterfall:

   -- Net enterprise value (after 5% admin. costs): $3.325 billion
   -- Valuation split (obligors/nonobligors): 68%/32%
   -- Priority claims: $65 million
   -- Value available to first-lien debt claims
      (collateral/noncollateral):
   -- $2.660 billion/$0
   -- Secured ABL revolver debt claims: $531 million
      -- Recovery expectations: Not applicable
   -- Value available to senior secured term loan claims
      (collateral/noncollateral): $2.130 billion/$0
   -- Secured term loan: $1.759 billion
      -- Recovery expectations: 90%-100%
   -- Total value available to unsecured claims (XPO/Con-way):
      $586 million/$34 million
   -- Senior XPO unsecured debt/pari passu unsecured claims:
      $3.202 billion/$39 million
      -- Recovery expectations: 30%-50% (lower half of the range)
   -- Senior Con-way unsecured debt/pari passu unsecured claims:
      $310 million/$109 million
      -- Recovery expectations: 0%-10%

Note: All debt amounts include six months of prepetition interest.
Collateral value equals asset pledge from obligors after priority
claims plus equity pledge from nonobligors after nonobligor debt.

RATINGS LIST

XPO Logistics Inc.
Corporate Credit Rating                 B/Stable/--       

Ratings Assigned

XPO Logistics Inc.
$1.75 Billion Term Loan B               BB-
  Recovery Rating                        1

CreditWatch Action
                                         To               From
XPO Logistics Inc.
Senior Unsecured                        B/Watch Neg      B
  Recovery Rating                        4L/Watch Neg     4L



YASIEL PUIG: Agent Says MLB Contracts Row Belongs in Arbitration
----------------------------------------------------------------
Kat Greene at Bankruptcy Law360 reported that a sports agent linked
to Yasiel Puig and other Cuban players told a Florida federal court
on Oct. 8, 2015, the trustee handling his agency's bankruptcy
should have to work through a $3.7 million dispute over his MLB
clients' contracts in arbitration.

Jaime Torres International Sports Management Inc., its principals
Jaime and Guadalupe Torres, and a related company appealed a
bankruptcy judge's finding that the contract issues in hand,
centering around a complaint alleging Jaime Torres fraudulently
transferred some player contracts away from his agency.


ZEKE'S WORLD: Case Summary & 3 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Zeke's World, LLC
           aka World Gym
        107 67th Street
        Ocean City, MD 21842

Case No.: 15-24183

Chapter 11 Petition Date: October 13, 2015

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

Judge: Hon. Thomas J. Catliota

Debtor's Counsel: Justin Philip Fasano, Esq.
                  MCNAMEE, HOSEA, JERNIGAN, KIM, GREENAN &
                  LYNCH, P.A.
                  6411 Ivy Lane, Suite 200
                  Greenbelt, MD 20770
                  Tel: 301-441-2420
                  Fax: 301-982-9450
                  Email: jfasano@mhlawyers.com

                    - and -
                 
                  James Greenan, Esq.
                  MCNAMEE, HOSEA, JERNIGAN, KIM, GREENAN &
                  LYNCH, P.A.
                  6411 Ivy Lane, Suite 200
                  Greenbelt, MD 20770
                  Tel: 301-441-2420
                  Email: jgreenan@mhlawyers.com

Estimated Assets: Not indicated

Estimated Liabilities: Not indicated

The petition was signed by Byron L. Brooks, managing member.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/mdb15-24183.pdf


[*] 2nd Circ. Won't Reconsider Argentina Central Bank Ruling
------------------------------------------------------------
Kat Greene at Bankruptcy Law360 reported that the Second Circuit on
Oct. 9, 2015, refused to reconsider its decision barring
bondholders from suing Argentina's central bank to collect the
billions of dollars in debt they say the country's government owes
them, solidifying a finding that the bank isn't the government's
alter ego.

In an August ruling, a three-judge panel of the court had reversed
a 2013 trial court's decision allowing the bondholders to go after
the nation's central bank, remanding the case on sovereign immunity
grounds, court records show.


[*] Fitch: Low Commodity Prices to Slash Energy Revenues Thru 2016
------------------------------------------------------------------
ow Commodity Prices to Slash U.S. Energy State Revenues Well into
201

With crude oil and natural gas prices likely to remain soft, U.S.
energy states' weakened revenue prospects are likely to persist
well into next year, according to Fitch Ratings in a new report.

With crude oil prices languishing in the $40-50 range for months
now, losses in related revenue sources that underpin energy states'
budgets are on the rise. 'Stagnant commodity price trends are
dampening energy states' economic growth and are eating into
economically sensitive revenue sources such as sales and personal
income taxes,' said Senior Director Marcy Block. As to which states
will be most adversely affected, the impact will vary considerably.


States with more diverse economies and revenue resources should be
able to weather prolonged commodity price declines more effectively
than those states that rely more heavily on commodity production.
This means states like Alaska, North Dakota and Wyoming are more
directly in the crosshairs of this trend.

That said, states as a whole have long had the financial
flexibility to adjust to these commodity market vulnerabilities.
'Should the prolonged slump in commodity markets extend into fiscal
2017, we would expect states to identify fiscally prudent
strategies to address vulnerable state revenue sources,' said
Block.



[*] Inertia May Decide Fate of Proposed Changes to Bankruptcy Law
-----------------------------------------------------------------
Stephen J. Lubben, writing for The New York Times' DealBook,
reported that the bankruptcy cases of American Apparel and City
Sports speak to the debate underway about proposed changes to
bankruptcy laws that would make the process cheaper for and
potentially more favorable to businesses trying to reorganize.

According to the DealBook, the Loan Syndications and Trading
Association recently released a report focused on the importance of
preserving Chapter 11 in its current form.  It is in response to a
report released by the American Bankruptcy Institute that included
what the association calls "harmful changes to the rights of
secured creditors," the DealBook related.  The institute instead
portrays its proposed changes as restoring the balance of power in
Chapter 11, the DealBook further related.

The syndications and trading association represents the interests
of those who have taken control: the secondary market in pieces of
secured loans facilitates that control, while the bankruptcy
institute represents bankruptcy interests more broadly, and went
out of its way to propose changes to Chapter 11 that had broad
support in the bankruptcy community, the DealBook noted.



[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Ralph Azar
   Bankr. C.D. Cal. Case No. 15-14825
      Chapter 11 Petition filed October 1, 2015

In re Donna Lynn Johnson
   Bankr. N.D. Fla Case No. 15-50346
      Chapter 11 Petition filed October 1, 2015

In re Vijay Holdings, LLC
   Bankr. D.N.J. Case No. 15-28552
      Chapter 11 Petition filed October 1, 2015
         See http://bankrupt.com/misc/njb15-28552.pdf
         represented by: Melinda D. Middlebrooks, Esq.
                         MIDDLEBROOKS SHAPIRO, P.C.
                         E-mail:
middlebrooks@middlebrooksshapiro.com

In re Nichols Trucking, LLC
   Bankr. E.D.N.C. Case No. 15-05301
      Chapter 11 Petition filed October 1, 2015
         See http://bankrupt.com/misc/nceb15-05301.pdf
         represented by: Danny Bradford, Esq.
                         PAUL D. BRADFORD, PLLC dba BRADFORD LAW
OFFICES
                         E-mail: dbradford@bradford-law.com

In re Kevin J. Wright
   Bankr. E.D. Penn. Case No. 15-17104
      Chapter 11 Petition filed October 1, 2015

In re Lynne Marie Celia
   Bankr. E.D. Va. Case No. 15-13449
      Chapter 11 Petition filed October 1, 2015

In re Fuller Properties, LLC
   Bankr. E.D. Va. Case No. 15-35083
      Chapter 11 Petition filed October 1, 2015
         See http://bankrupt.com/misc/vaeb15-35083.pdf
         represented by: Troy Savenko, Esq.
                         KAPLAN, VOEKLER, CUNNINGHAM & FRANK, PLC
                         E-mail: tsavenko@kv-legal.com

In re JEM Purveyors Corp
   Bankr. S.D.N.Y. Case No. 15-23447
      Chapter 11 Petition filed October 2, 2015
         See http://bankrupt.com/misc/nysb15-23447.pdf
         represented by: Todd S. Cushner, Esq.
                         GARVEY TIRELLI & CUSHNER LTD.
                         E-mail: todd@thegtcfirm.com


In re Blanca E Escobar-Torres
   Bankr. C.D. Cal. Case No. 15-13315
      Chapter 11 Petition filed October 2, 2015
         represented by: Anthony Obehi Egbase, Esq.
                         LAW OFFICES OF ANTHONY O EGBASE & ASSOC.
                         E-mail: info@anthonyegbaselaw.com

In re Anthony Vincent Butera
   Bankr. E.D. Cal. Case No. 15-90947
      Chapter 11 Petition filed October 2, 2015

In re One World Labs, Inc.
   Bankr. D. Colo. Case No. 15-21110
      Chapter 11 Petition filed October 2, 2015
         See http://bankrupt.com/misc/cob15-21110.pdf
         represented by: Duncan E. Barber, Esq.
                         BIEGING SHAPIRO & BARBER LLP
                         E-mail: dbarber@bsblawyers.com

In re John Chisholm
   Bankr. N.D. Fla. Case No. 15-31011
      Chapter 11 Petition filed October 2, 2015

In re Nassau Development of Village West, Corp.
   Bankr. S.D. Fla. Case No. 15-27691
      Chapter 11 Petition filed October 2, 2015
         See http://bankrupt.com/misc/flsb15-27691.pdf
         represented by: Michael Marcer, Esq.
                         MARRERO, CHAMIZO, MARCER LAW L.P.
                         E-mail:
Bankruptcy@marrerorealestatelaw.com

In re Rock Island Realty, LLC
   Bankr. C.D. Ill. Case No. 15-81508
      Chapter 11 Petition filed October 2, 2015
         See http://bankrupt.com/misc/ilcb15-81508.pdf
         represented by: Dale G Haake, Esq.
                         KATZ NOWINSKI P.C.
                         E-mail: dhaake@katzlawfirm.com

In re Twin Rivers, Inc.
   Bankr. W.D. Ky. Case No. 15-40843
      Chapter 11 Petition filed October 2, 2015
         See http://bankrupt.com/misc/kywb15-40843.pdf
         represented by: Jesse E. Offill, Esq.
                         COOLEY LAW OFFICE
                         E-mail: jesse.offill@gmail.com

In re Joy A Johnson
   Bankr. D. Minn. Case No. 15-43452
      Chapter 11 Petition filed October 2, 2015

In re DCI United Properties LLC, , a Limited Liability Com
   Bankr. N.D. Ohio Case No. 15-15628
      Chapter 11 Petition filed October 2, 2015
         See http://bankrupt.com/misc/ohnb15-15628.pdf
         represented by: Glenn E. Forbes, Esq.
                         COOPER & FORBES CO., LPA
                         E-mail: Bankruptcy@cooperandforbes.com

In re Mohammad A. Chughtai and Farzana A. Chughtai
   Bankr. E.D. Penn. Case No. 15-17133
      Chapter 11 Petition filed October 2, 2015

In re William T. Glover and Deborah Gene Glover
   Bankr. W.D. Penn. Case No. 15-23638
      Chapter 11 Petition filed October 2, 2015

In re Smart Foods, Inc.
   Bankr. D.P.R. Case No. 15-07792
      Chapter 11 Petition filed October 2, 2015
         See http://bankrupt.com/misc/prb15-07792.pdf
         represented by: Jesus Enrique Batista Sanchez, Esq.
                         THE BATISTA LAW GROUP, PSC
                         E-mail: rosafblg@gmail.com

In re Smart Outdoor Media, Inc.
   Bankr. D.P.R. Case No. 15-07793
      Chapter 11 Petition filed October 2, 2015
         See http://bankrupt.com/misc/prb15-07793.pdf
         represented by: Jesus Enrique Batista Sanchez, Esq.
                         THE BATISTA LAW GROUP, PSC
                         E-mail: rosafblg@gmail.com

In re Most Choice Healthcare, LLC
   Bankr. W.D. Tex. Case No. 15-52387
      Chapter 11 Petition filed October 2, 2015
         See http://bankrupt.com/misc/txwb15-52387.pdf
         represented by: David T. Cain, Esq.
                         LAW OFFICE OF DAVID T. CAIN
                         E-mail: caindt@swbell.net

In re Larry E. Gibas and Kimberly D. Richter Gibas
   Bankr. E.D. Wis. Case No. 15-31102
      Chapter 11 Petition filed October 2, 2015

In re Thorsten Gerfred Faerber
   Bankr. N.D. Ga. Case No. 15-69028
      Chapter 11 Petition filed October 4, 2015


In re Rainey & Associates, Inc.
   Bankr. D. Kan. Case No. 15-22114
      Chapter 11 Petition filed October 2, 2015
         See http://bankrupt.com/misc/ksb15-22114.pdf
         represented by: John L Lentell, Esq.
                         JOHN L LENTELL JD MBA LLC

In re Huber Farran and Hortencia Farran
   Bankr. C.D. Cal. Case No. 15-25357
      Chapter 11 Petition filed October 5, 2015
         represented by: Anthony Obehi Egbase, Esq.
                         LAW OFFICES OF ANTHONY O EGBASE & ASSOC.
                         E-mail: info@anthonyegbaselaw.com

In re John Gregory Arden
   Bankr. N.D. Cal. Case No. 15-11035
      Chapter 11 Petition filed October 5, 2015

In re Pedro Jose Antar
   Bankr. S.D. Fla. Case No. 15-27729
      Chapter 11 Petition filed October 5, 2015

In re Edward Henry Rensi
   Bankr. N.D. Ill. Case No. 15-33948
      Chapter 11 Petition filed October 5, 2015

In re Randal Dale Leister
   Bankr. D. Kan. Case No. 15-12164
      Chapter 11 Petition filed October 5, 2015

In re Helios Giner and Nelly Jaramillo
   Bankr. D. Nev. Case No. 15-15703
      Chapter 11 Petition filed October 5, 2015

In re Marjan Kasapinov
   Bankr. D.N.J. Case No. 15-28765
      Chapter 11 Petition filed October 5, 2015

In re Pasta Bar by Scotto LLC
   Bankr. S.D.N.Y. Case No. 15-12721
      Chapter 11 Petition filed October 5, 2015
         See http://bankrupt.com/misc/nysb15-12721.pdf
         represented by: Ralph E. Preite, Esq.
                         SICHENZIA ROSS FRIEDMAN FERENCE LLP
                         E-mail: rpreite@srff.com

In re Kalas Supermarket Inc
   Bankr. N.D. Ohio Case No. 15-62057
      Chapter 11 Petition filed October 5, 2015
         See http://bankrupt.com/misc/ohnb15-62057.pdf
         represented by: Edwin H. Breyfogle, Esq.
                         E-mail: edwinbreyfogle@sssnet.com

In re Valley Auto Parts, LLC
   Bankr. S.D. Ohio Case No. 15-33261
      Chapter 11 Petition filed October 5, 2015
         See http://bankrupt.com/misc/ohsb15-33261.pdf
         represented by: Alfred Wm Schneble, III, Esq.
                         PHILLIPS LAW FIRM, INC.
                         E-mail: bud@phillipslawfirm.com

In re Victoria Z. Brkich
   Bankr. E.D. Penn. Case No. 15-17201
      Chapter 11 Petition filed October 5, 2015

In re William Todd Hamsley
   Bankr. M.D. Tenn. Case No. 15-07117
      Chapter 11 Petition filed October 5, 2015

In re Izing Properties, LLC
   Bankr. D. Ariz. Case No. 15-12753
      Chapter 11 Petition filed October 6, 2015
         See http://bankrupt.com/misc/azb15-12753.pdf
         filed Pro Se

In re Ascendiant Securities, LLC
   Bankr. C.D. Cal. Case No. 15-14881
      Chapter 11 Petition filed October 6, 2015
         See http://bankrupt.com/misc/cacb15-14881.pdf
         represented by: Renee M Daughetee, Esq.
                         THE DAUGHETEE LAW FIRM
                         E-mail: rdaughetee@hotmail.com

In re White Mark Universal Inc.
   Bankr. C.D. Cal. Case No. 15-25427
      Chapter 11 Petition filed October 6, 2015
         See http://bankrupt.com/misc/cacb15-25427.pdf
         represented by: Leslie Richards, Esq.
                         LAW OFFICES OF LESLIE RICHARDS APC
                         E-mail: ladylaw@leslierichards.com

In re George N. Georgitseas
   Bankr. D. Conn. Case No. 15-51408
      Chapter 11 Petition filed October 6, 2015

In re Montessori Academy & Infant-Toddler Center, Inc
   Bankr. N.D. Ill. Case No. 15-34064
      Chapter 11 Petition filed October 6, 2015
         See http://bankrupt.com/misc/ilnb15-34064.pdf
         represented by: Karen J Porter, Esq.
                         PORTER LAW NETWORK
                         E-mail: porterlawnetwork@gmail.com

In re Mark Carey Comeaux and Lisa Dugas Comeaux
   Bankr. W.D. La. Case No. 15-20865
      Chapter 11 Petition filed October 6, 2015

In re Leisure Time Spas, Billiards & More LLC
   Bankr. E.D. Mich. Case No. 15-54665
      Chapter 11 Petition filed October 6, 2015
         See http://bankrupt.com/misc/mieb15-54665.pdf
         represented by: Sonya N. Goll, Esq.
                         STEVENSON & BULLOCK, P.L.C.
                         E-mail: sgoll@sbplclaw.com

In re Endless Possibilities, LLC
   Bankr. W.D. Mo. Case No. 15-42927
      Chapter 11 Petition filed October 6, 2015
         See http://bankrupt.com/misc/mowb15-42927.pdf
         represented by: Robert E. Arnold, III, Esq.
                         ARNOLD LAW FIRM LLC
                         E-mail: rarnold@arnold-lawfirm.com

In re Fuel Service Mart, Inc.
   Bankr. W.D. Mo. Case No. 15-42930
      Chapter 11 Petition filed October 6, 2015
         See http://bankrupt.com/misc/mowb15-42930.pdf
         represented by: Paul M. Hoffmann, Esq.
                         STINSON LEONARD STREET LLP
                         E-mail: phoffmann@stinson.com

In re Falls View Apartments, L.L.C.
   Bankr. D.N.J. Case No. 15-28841
      Chapter 11 Petition filed October 6, 2015
         See http://bankrupt.com/misc/njb15-28841.pdf
         represented by: Richard Kotkin, Esq.
                         THE OFFICES OF RICAHRD KOTKIN

In re NXXLVL Entertainment Inc
   Bankr. D. Nev. Case No. 15-15711
      Chapter 11 Petition filed October 6, 2015
         See http://bankrupt.com/misc/nvb15-15711.pdf
         represented by: Seth D Ballstaedt, Esq.
                         THE BALLSTAEDT LAW FIRM
                         E-mail: seth@ballstaedtlaw.com

In re Menichas Usher Inc.
   Bankr. S.D.N.Y. Case No. 15-23456
      Chapter 11 Petition filed October 6, 2015
         filed Pro Se

In re Rockland Tobacco Inc.
   Bankr. S.D.N.Y. Case No. 15-23458
      Chapter 11 Petition filed October 6, 2015
         See http://bankrupt.com/misc/nysb15-23458.pdf
         represented by: Robert S. Lewis, Esq.
                         E-mail: robert.lewlaw1@gmail.com

In re Rybicki Family Practice, P.C.
   Bankr. E.D. Penn. Case No. 15-17219
      Chapter 11 Petition filed October 6, 2015
         See http://bankrupt.com/misc/paeb15-17219.pdf
         represented by: Thomas Daniel Bielli, Esq.
                         BIELLI & KLAUDER, LLC
                         E-mail: tbielli@bk-legal.com

In re Jeffrey F. Kratz
   Bankr. E.D. Penn. Case No. 15-17226
      Chapter 11 Petition filed October 6, 2015

In re Richard Douglas Arnold, Sr.
   Bankr. M.D. Tenn. Case No. 15-07168
      Chapter 11 Petition filed October 6, 2015

In re Richard Davis and Pamela B. Davis
   Bankr. E.D. Tex. Case No. 15-41791
      Chapter 11 Petition filed October 6, 2015

In re Farrin (Batool) Enterzari-Ullah
   Bankr. S.D.N.Y. Case No. 15-12737
      Chapter 11 Petition filed October 6, 2015
         filed Pro Se

In re Bar-B-Quing With My Honey, Inc
   Bankr. S.D. Al. Case No. 15-03308
      Chapter 11 Petition filed October 7, 2015
         See http://bankrupt.com/misc/alsb15-03308.pdf
         represented by: Barry A. Friedman, Esq.
                         BARRY A. FRIEDMAN AND ASSOCIATES P.C.
                         E-mail: bky@bafmobile.com

In re Steven R. Rojas
   Bankr. C.D. Cal. Case No. 15-19850
      Chapter 11 Petition filed October 7, 2015

In re Myers Investment Company
   Bankr. C.D. Cal. Case No. 15-25461
      Chapter 11 Petition filed October 7, 2015
         See http://bankrupt.com/misc/cacb15-25461.pdf
         represented by: Babak Samini, Esq.
                         SAMINI SCHEINBERG, PC
                         E-mail: saminicourtnotice@gmail.com

In re Natalia Tsagolova
   Bankr. C.D. Cal. Case No. 15-25503
      Chapter 11 Petition filed October 7, 2015

In re Frederick S. White, Sr.
   Bankr. N.D. Fla. Case No. 15-40516
      Chapter 11 Petition filed October 7, 2015

In re Rena Realty Group, LLC
   Bankr. D.N.J. Case No. 15-28914
      Chapter 11 Petition filed October 7, 2015
         See http://bankrupt.com/misc/njb15-28914.pdf
         represented by: Andrew I. Radmin, Esq.
                         CARKHUFF & RADMIN
                         E-mail: andyradz@aol.com

In re Yellow Cab of Reno, Inc.
   Bankr. D. Nev. Case No. 15-51384
      Chapter 11 Petition filed October 7, 2015
         See http://bankrupt.com/misc/nvb15-51384.pdf
         represented by: Alan R. Smith, Esq.
                         THE LAW OFFICES OF ALAN R. SMITH
                         E-mail: mail@asmithlaw.com

In re East Coast Transmissions and Auto Repair, LLC
   Bankr. D.S.C. Case No. 15-05349
      Chapter 11 Petition filed October 7, 2015
         See http://bankrupt.com/misc/scb15-05349.pdf
         represented by: Jonathan L. Davis, Esq.
                         DAVIS LAW OFFICE, LLC
                         E-mail: jdavisesq@outlook.com

In re Ronald Jeffrey McCowan
   Bankr. S.D.W. Va. Case No. 15-20527
      Chapter 11 Petition filed October 7, 2015



                            *********

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.

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