TCR_Public/151016.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, October 16, 2015, Vol. 19, No. 289

                            Headlines

33 PECK: Agrees Sale Plan for Three Manhattan Hotel Properties
ACA HOLDINGS: S&P Withdraws 'B-' Corporate Credit Rating
AFFIRMATIVE INSURANCE: Dec. 14 Deadline Sought for Filing Claims
AFFIRMATIVE INSURANCE: Files for Chapter 11 Bankruptcy Protection
AFFIRMATIVE INSURANCE: Proposes Procedures to Preserve NOLs

AFFIRMATIVE INSURANCE: Seeks Joint Administration of Cases
ALEXZA PHARMACEUTICALS: Names Thomas King PFO and PAO
ALLIANCE ONE: Exchange Offer Expired October 13
ALONSO & CARUS: Refutes Committee's Claims That Plan Unconfirmable
AOXING PHARMACEUTICAL: Swings to $5.5M Net Income in Fiscal 2015

ATLANTIC & PACIFIC: Ex-Pathmark Staff Opposes Pension Termination
ATP OIL: OHA Investment Settles Certain Elements of Litigation
BEHR LLC: Case Summary & 20 Largest Unsecured Creditors
BLUE EAGLE: Moody's Assigns 'B3' Corporate Family Rating
BWAY HOLDING: Moody's Affirms 'B3' Corporate Family Rating

CALIFORNIA COMMUNITY: May Access Cash Collateral Until December 31
CALIFORNIA COMMUNITY: Plan Disclosure Hearing Continued to Nov. 4
CAROLYN DAVIS: Justices Reject Bankruptcy, Debt Collection Petition
CBA 54: Voluntary Chapter 11 Case Summary
CELL ACCESS: Case Summary & 8 Largest Unsecured Creditors

CHINA GINSENG: Incurs $3.9 Million Net Loss in Fiscal 2015
CLUB ONE CASINO: Case Summary & Largest Unsecured Creditors
COLT DEFENSE: Seeks to Retain Control of Ch. 11 Cases
ERG INTERMEDIATE: Can File Chapter 11 Plan Until October 31
FIVE S PLUS: Amends Plan Outline After Lender Fired Objections

FRANCIS MAX FRICK: Bankruptcy Auction Scheduled for Oct. 29
FREESEAS INC: Announces New Charter for Vessel
GEOMET INC: T. Rowe Price No Longer a Shareholder
GLOBAL HOUGHTON: S&P Assigns 'B' CCR Then Withdraws Rating
GUADALUPE REGIONAL: S&P Assigns 'BB' Rating on $120MM 2015 Bonds

ISC8 INC: Deregisters Unsold Securities
JOE'S JEANS: Posts $5.6 Million Net Income for Third Quarter
LEE STEEL: Seeks to Change Name Following Closing of Sale
MAIN STREET BUSINESS: Case Summary & 20 Top Unsecured Creditors
MARKHAM, IL.: S&P Lowers Rating on Gen. Obligation Debt to 'BB'

MOLYCORP INC: Shareholder Said to Be Planning Bid on Assets
MONAKER GROUP: Sells 100,000 Units to Board Member
MONTREAL MAINE: Lawyer for Victims' Kin Vows to Sue Railroad
MUELLER WATER: Moody's Hikes Corporate Family Rating to 'Ba3'
NORTEL NETWORKS: $1.39MM in Clams Switched Hands From April-May

PILOT TRAVEL: S&P Retains 'BB+' Rating on $4.45BB Secured Debt
PRECISION OPTICS: Incurs $1.17 Million Net Loss in Fiscal 2015
QUEST SOLUTION: Names Gilles Gaudreault CEO, Tom Miller President
QUICKSILVER RESOURCES: Needs Until Feb. 1 to File Ch. 11 Plan
QUIKSILVER INC: Files Ch. 11 Plan of Reorganization

QUIKSILVER INC: U.S. Trustee Appoints Two More Committee Members
R&G FOOD SERVICES: Voluntary Chapter 11 Case Summary
RADIOSHACK CORP: RS Legacy's Liquidating Plan Declared Effective
REICHHOLD HOLDINGS: Asbestos Claimants Object to Plan Disclosures
REICHHOLD HOLDINGS: Disclosure Statement Hearing Moved to Nov. 17

RELATIVITY FASHION: Blackstone Okayed as Investment Banker
RELATIVITY FASHION: Court Approves Donlin Recano as Admin Agent
RELATIVITY MEDIA: Can Pay Bonuses to 81 Employees
RELATIVITY MEDIA: Macquarie Investments Seeks Adequate Protection
RREAF O&G: Gets Final Approval to Use Cash Collateral Until Dec. 31

SAMSON RESOURCES: Equity Transfer Protocol Approved on Final Basis
SANUWAVE HEALTH: Releases DermaPACE Clinical Trial Results
SG BLOCKS: Voluntary Chapter 11 Case Summary
SHERRITT INTERNATIONAL: DBRS Lowers Issuer Rating to B
THERAPEUTICSMD INC: Completes Enrollment in Phase 3 Clinical Trial

TRAVIS Z KIRKLAND: Case Summary & 20 Largest Unsecured Creditors
UNICOI WATER: S&P Alters Outlook on BB 2010 Debt Rating to Positive
VAULT MINERALS: Case Summary & 12 Largest Unsecured Creditors
VIPER VENTURES: 6-Day Trial on Contested Plan to End Oct. 28
VIPER VENTURES: CFI and GVR Want Claims Allowed for Voting

VIPER VENTURES: U.S. Trustee Raises Several Issues With Plan
VIPER VENTURES: Wells Fargo, Creditors Object to Plan Confirmation
VIRTUAL PIGGY: Issues $150,000 Promissory Notes
WAJAX CORP: DBRS Confirms 'BB(high)' Issuer Rating
WALTER INVESTMENT: S&P Revises Outlook to Stable & Affirms B+ ICR

[*] "Chapter 20" Debtors Eligible to Void Liens
[*] Bank Servicers' Subprime Loans See Higher Losses, Moody's Says
[*] Fitch: Limp Energy/Nat. Resources Sectors Lead to 3Q Downgrades
[*] Phoenix's Michael Jacoby to Be Inducted as Bankruptcy Fellow
[*] Profit Growth to Slow for Auto Parts Suppliers, Moody's Says

[*] U.S. Energy and Metals/Mining Issuance Slows, Fitch Says
[^] BOOK REVIEW: The Financial Giants In United States History

                            *********

33 PECK: Agrees Sale Plan for Three Manhattan Hotel Properties
--------------------------------------------------------------
The debtors, their principals and primary secured lenders for
Gemini Real Estate Advisors in the pending Chapter 11 cases pending
before the U.S. Bankruptcy Court in the Southern District of New
York on Oct. 13 agreed to a plan that will move forward the sale of
three Manhattan hotel properties -- the Best Western Seaport, the
Jade Greenwich Village, and Wyndham Garden Flatiron District hotels
-- located at 33 Peck Slip, 57 West 13th St., and 37 West 24th St.,
respectively.

Negotiated agreements were finalized yesterday during a scheduled
hearing before Bankruptcy Judge James L. Garrity to determine the
procedures to be followed to create a level playing field for
stalking horse auctions for the three properties.

"Tuesday's agreement allows us to begin actively marketing all
three hotel properties and keeps us on target to sell them by the
end of the year," said Dante Massaro, president and CEO of Gemini
Real Estate Advisors.  "We're pleased to finally be able to move
forward with this process and anticipate negotiating the highest
and best terms for the properties and returning profits to our
investors."

The agreement, which is in line with Gemini's original petition to
the court, provides an extended marketing period for all three
properties -- 45 days for the Best Western Seaport and the Jade
Greenwich Village and 60 days for the Wyndham Garden Flatiron
district.  The marketing process for all three hotels is underway
through Gemini's real estate advisor RobertDouglas, which has
compiled all diligence materials for interested investors.

The auctions of the Best Western Seaport and the Jade Hotel
Greenwich Village are scheduled for Dec. 1, 2015, in Judge
Garrity's courtroom.  The auction for the Wyndham Garden Flatiron
District is scheduled for Dec. 15.  All sales are expected to close
by year end.

"The agreements will insure a robust and transparent auction
process that will provide for the payment of all creditors in full
and maximize returns to investors," said Scott Gautier, Robins
Kaplan LLP co-lead counsel to the debtors.  "These cases are a
prime example of how Chapter 11 can be used to provide transparency
and protect investor value in a situation where there are disputes
between the managing principals.  We are hopeful that this process
might also serve as a catalyst to resolve those disputes."

A hearing on the fourth property involved in the Chapter 11
petitions, the Bryant Park Development site located at 36 West 38th
St., is scheduled for Oct. 28.

Parties interested in bidding on the Best Western Seaport, Jade
Hotel Greenwich Village, and/or Wyndham Garden Flatiron district
should contact Douglas Herscher at RobertDouglas in New York at
(212) 993-7424 for more information.

Gemini, based in Charlotte, N.C., with offices in New York City,
manages more than three million square feet of properties and $750
million in value in 11 states across the United States.

                About Gemini Real Estate Advisors

Gemini is a vertically integrated real estate investment and
operating company.  Gemini currently owns a portfolio of shopping
centers, hotels and fixed income investments with a value of
approximately $750 million.

                         About 33 Peck

Owners of four New York City hotel properties, namely 33 Peck Slip
Acquisition LLC, Gemini 37 West 24th Street MT, LLC, 36 West 38th
Street LLC and 52 West 13th P, LLC, have sought Chapter 11
bankruptcy protection, intending to auction off their assets in
connection with a Chapter 11 plan.  The Debtors are affiliated with
Gemini Real Estate Advisors.

The Debtors own:

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

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

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

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

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

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

The Debtors tapped Robins Kaplan LLP as attorneys; and
RobertDouglas as real estate advisor.

                           *     *     *

The Debtors have submitted a liquidating plan that will pay off
creditors from proceeds of the sale of the assets.

The Debtors have solicited stalking horse initial offers for the
properties totaling $200 million, subject to potential higher bids
at auction.  The Debtors have proposed bidding procedures that
contemplate a Nov. 5 deadline for competing bids with an auction to
take place on Nov. 10.  

The Debtors plan to sell the Seaport hotel for $37.5 million, the
Jade hotel for $78 million, the Wyndham hotel for $57 million, and
the development site for $25.5 million.



ACA HOLDINGS: S&P Withdraws 'B-' Corporate Credit Rating
--------------------------------------------------------
Standard & Poor's Ratings Services said it withdrew its 'B-'
corporate credit rating on Newtown Square, Pa.-based ACA Holdings
LLC at the issuer's request.  ACA is the holding company for U.S.
alarm monitoring services provider My Alarm Center LLC.

At the same time, S&P withdrew its 'B+' issue-level and '1'
recovery rating on the company's previously proposed revolving
credit facility and S&P's 'B-' issue-level and '4' recovery rating
on its proposed senior secured notes.  ACA had previously announced
that it was planning to issue a $30 million revolver and $265
million in new senior secured notes to refinance its existing debt.
However, the company has decided not to pursue the transaction.



AFFIRMATIVE INSURANCE: Dec. 14 Deadline Sought for Filing Claims
----------------------------------------------------------------
Affirmative Insurance Holdings, Inc., et al., ask the Bankruptcy
Court to establish Dec. 14, 2015, at 5:00 p.m. (prevailing Eastern
Time) as the last date and time by which creditors may file proofs
of claim and seek payment of an administrative expense claim (with
the exception of proofs of claim of government units, the
applicable bar date for which the Debtors propose is April 11,
2016, at 5:00 p.m.).

The Debtors maintain that the establishment of the General Bar Date
and Administrative Expense Bar Date will help ensure that all
claims are resolved as quickly and efficiently as possible, which
in turn will help to ensure the quick and efficient resolution of
these Chapter 11 cases.  

For any proof of claim to be validly filed, the original proof of
claim must be delivered by first-class mail, overnight delivery, or
hand delivery to:

     Affirmative Insurance Holdings Inc. Claims Processing
     c/o Rust Consulting/Omni Bankruptcy
     5955 DeSoto Avenue, Suite #100
     Woodland Hills, CA 91367

For any Administrative Expense Claim to be validly filed, the
application or motion seeking approval of the Administrative
Expense Claim must be filed with the Bankruptcy Court and delivered
by first-class mail, overnight delivery, or hand delivery to:

     McDermott Will & Emery LLP
     c/o Darren Azman, Esq.
     340 Madison Avenue
     New York, New York 10173-1922

     With a copy to:
     Polsinelli PC
     c/o Shanti M. Katona, Esq.
     222 Delaware Avenue, Suite 1101
     Wilmington, Delaware 19801

                    About Affirmative Insurance

Affirmative Insurance Holdings, Inc., Affirmative Management
Services, Inc., Affirmative Services, Inc., Affirmative
Underwriting Services, Inc., Affirmative Insurance Services, Inc.,

Affirmative General Agency, Inc., Affirmative Insurance Group, Inc.
and Affirmative, L.L.C. sought Chapter 11 bankruptcy protection
(Bankr. D. Del. Proposed Lead Case No. 15-12136) on Oct. 14, 2015.
The petition was signed by Michael J. McClure as chief executive
officer.

The Debtors have engaged McDermott Will & Emery LLP as general
bankruptcy counsel, Polsinelli PC as local Delaware counsel, Faegre
Baker Daniels LLP as special regulatory counsel, BDO USA LLP as
financial consultant and Rust Consulting/Omni Bankruptcy as notice
and claims agent.

The Debtors disclosed total assets of $25.20 million and total
debts of $91.26 million as of Aug. 31, 2015.

Founded in June 1998, Affirmative provides non-standard personal
automobile insurance policies for individual consumers in targeted
geographic markets.  NSPAI policies provide coverage to drivers who
find it difficult to obtain insurance from standard automobile
insurance companies due to their lack of prior insurance, age,
driving record, limited financial resources, or other factors.


AFFIRMATIVE INSURANCE: Files for Chapter 11 Bankruptcy Protection
-----------------------------------------------------------------
Affirmative Insurance Holdings, Inc., and seven of its affiliates
sought Chapter 11 bankruptcy protection in Delaware after several
of their non-debtor insurance subsidiaries were placed under
court-ordered rehabilitation in various states in which they
operate.

Founded in June 1998, Affirmative provides non-standard personal
automobile insurance policies for individual consumers in targeted
geographic markets.  According to Michael J. McClure, chief
executive officer of Holdco, Affirmative distributed NSPAI policies
through a network of approximately 200 retail stores owned by
Holdco, as well as an established network of independent agencies
and multiple unaffiliated underwriting agencies.  After the sale of
the retail distribution business to Confie Seguros Holding II Co.
and Confie Insurance Group Holdings, Inc. on Sept. 30, 2013,
Affirmative distributed NSPAI policies through an established
network of independent agencies and one unaffiliated underwriting
agency writing business in California, he added.  As of the fiscal
year ending Dec. 31, 2014, Affirmative was distributing NSPAI
policies through approximately 5,000 independent agents or brokers
and employed 489 employees.

Mr. McClure describes the NSPAI insurance industry as "cyclical in
nature, characterized by periods of severe price competition and
excess underwriting capacity followed by periods of high premium
rates and shortages of underwriting capacity."

For the past six years, the Debtors had incurred losses from
operations, including an operating loss of $31 million for the year
ended Dec. 31, 2014, due to, among other things, underwriting
losses, significant revenue declines, and goodwill impairments,
according to the filing.  

"Affirmative's losses from operations have continued during 2015,
notwithstanding the actions taken to address the liquidity and
capital issues," Mr. McClure said.

The Debtors disclosed they have approximately $100 million in long
term debt outstanding.

The Debtors estimated that they have approximately $8.5 million of
other unsecured debt outstanding, which is comprised mostly of
outstanding tax liabilities, trade debt, and approximately $2.33
million that is allegedly owed as a purchase price adjustment in
connection with the sale of their managing general agency
operations.

                   Rehabilitation Proceedings

Prior to the Petition Date, Affirmative Insurance Company,
Affirmative Casualty Insurance Company, and Affirmative Direct
Insurance Company were placed into rehabilitation by the various
domiciliary states exercising regulatory authority over them.

Affirmative is subject to a Stipulated Cease and Desist Order with
the California Department of Insurance dated Sept. 2, 2015, which
required Affirmative to cease writing any new NSPAI policies and to
commence non-renewing all in-force policies in accordance with
California law.

On Sept. 16, 2015, AIC was placed in rehabilitation under the
control and authority of the Illinois Director of Insurance.  The
Illinois Rehabilitation is pending in the Circuit Court of Cook
County, Illinois, County Department, Chancery Division as Case No.
15 CH 13718.

On Sept. 17, 2015, Affirmative Casualty Insurance Company and
Affirmative Direct Insurance Company were placed in rehabilitation
under the control and authority of the Commissioner of the
Louisiana Department of Insurance.  The Louisiana Rehabilitation is
pending in the Nineteenth Judicial District Court, the Parish of
East Baton Rouge, State of Louisiana as Case No. 642353.

The Debtors said they are currently in negotiations with the
relevant insurance regulatory authorities in Michigan regarding the
commencement of a rehabilitation proceeding for Affirmative
Insurance Company of Michigan.  As of the Petition Date, no such
proceeding has been commenced.

                         First Day Motions

Contemporaneously with the filing of the petitions, the Debtors are
filing certain first day motions seeking, among other things, to
ensure the continuation of their cash management systems and other
business operations without interruption, and establish certain
other administrative procedures to promote a smooth transition into
these Chapter 11 Cases.

The Debtors have engaged McDermott Will & Emery LLP as general
bankruptcy counsel, Polsinelli PC as local Delaware counsel, Faegre
Baker Daniels LLP as special regulatory counsel, BDO USA LLP as
financial consultant, and Rust Consulting/Omni Bankruptcy as notice
and claims agent.

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

      http://bankrupt.com/misc/2_AFFIRMATIVE_declaration.pdf


AFFIRMATIVE INSURANCE: Proposes Procedures to Preserve NOLs
-----------------------------------------------------------
Affirmative Insurance Holdings, Inc., et al., ask the Bankruptcy
Court to approve certain proposed procedures for transfers of
equity securities in order to protect the potential value of their
net operating losses.

Christopher A. Ward, Esq., at Polsinelli PC, counsel to the
Debtors, says the Debtors have experienced years of losses from the
operation of their business.  As a result, he adds, the Debtors
estimate that their federal income tax NOLs are approximately $80
million as of the Petition Date, which amounts could be even higher
when the Debtors emerge from Chapter 11.  According to Mr. Ward,
these NOLs could translate into future reductions of the Debtors'
federal income tax liabilities of approximately $28 million based
on a corporate federal income tax rate of 35%.  

"These tax savings could substantially enhance the Debtors' cash
position for the benefit of parties in interest and contribute to
the Debtors' efforts in these Chapter 11 cases," Mr. Ward tells the
Court.

The Debtors may lose the ability to use their NOLs if they
experience an "ownership change" for federal income tax purposes.


Section 172 of the Internal Revenue Code of 1986 permits corporate
taxpayers to use NOLs in years following the years in which they
were incurred, including years after they have experienced an
ownership change.  However, section 382 of the IRC limits the
income against which the NOLs can be deducted after an ownership
change.

The Debtors' ability to use their NOLs is subject to certain
statutory limitations.  Section 382 of the IRC limits the ability
of a corporation to use its NOLs if an "ownership change" occurs.
Generally, an "ownership change" occurs if the percentage (by
value) of the stock of the corporation owned by one or more 5%
shareholders has increased by more than 50 percentage points over
the lowest percentage of stock owned by such shareholders at any
time during the relevant testing period, which is usually three
years.

"Thus, if left unrestricted, transfers of Equity Securities could
severely limit the Debtors' ability to use their NOLs, and could
have significant negative consequences for the Debtors, their
estates, and their efforts in these Chapter 11 Cases," asserts Mr.
Ward.

             The Proposed Equity Transfer Procedures

Mr. Ward relates that by establishing procedures for monitoring the
transfer of Equity Securities, the Debtors can preserve their
ability to seek the necessary relief at the appropriate time if it
appears that transfers of Equity Securities may jeopardize their
use of their NOLs.  Therefore, the Debtors propose the following
notice and objection procedures for holding and transferring
Equity Securities:

A "Substantial Equityholder" is any person or entity that
beneficially owns at least 720,376 Equity Securities (representing
approximately 4.5% of the 16,008,357 issued and outstanding Equity
Securities).

Any person or entity who currently is or becomes a Substantial
Equityholder shall (a) file with the Court and (b) serve upon (i)
the Debtors, c/o Affirmative Insurance Holdings, Inc., 150
Harvester Drive, Suite 250, Burr Ridge, Illinois 60527 (Attn:
General Counsel), and (ii) McDermott Will & Emery LLP, 340
Madison Avenue, New York, New York 10173 (Attn: Darren Azman), a
notice of that status, on or before the later of (A) 14 days after
entry of the Interim Order or (B) 14 days after becoming
a Substantial Equityholder.

At least 28 days prior to any transfer of Equity Securities that
would result in an increase in the amount of Equity Securities
beneficially owned by a Substantial Equityholder or would result in
a person or entity becoming a Substantial Equityholder, such
Substantial Equityholder or potential Substantial Equityholder
shall (a) file with the Court and (b) serve on the Debtors and
counsel to the Debtors, advance written notice of the intended
transfer of Equity Securities.

At least 28 days prior to any transfer of Equity Securities that
would result in a decrease in the amount of Equity Securities
beneficially owned by a Substantial Equityholder or would result in
a person or entity ceasing to be a Substantial Equityholder, such
Substantial Equityholder shall (a) file with the Court and (b)
serve on the Debtors and counsel to the Debtors, advance
written notice of the intended transfer of Equity Securities.
    
The Debtors will have 21 days after receipt of a Stock
Acquisition Notice or a Stock Disposition Notice to file with the
Court and serve on the party filing the Transfer Notice an
objection to the proposed Transfer on the grounds that such
Transfer may adversely affect the Debtors' ability to utilize their
NOLs.  If the Debtors file an objection, the proposed Transfer will
not be effective unless and until approved by a final and
nonappealable order of this Court.  If the Debtors do not object
within such 21-day period, the Transfer may proceed solely as set
forth in the Transfer Notice.  

Effective as of the Petition Date, any acquisition or disposition
of Equity Securities in violation of the Equity Transfer Procedures
will be null and void ab initio as an act in violation of the
automatic stay under Bankruptcy Code Section 362.

                   About Affirmative Insurance

Affirmative Insurance Holdings, Inc., Affirmative Management
Services, Inc., Affirmative Services, Inc., Affirmative
Underwriting Services, Inc., Affirmative Insurance Services, Inc.,

Affirmative General Agency, Inc., Affirmative Insurance Group, Inc.
and Affirmative, L.L.C. sought Chapter 11 bankruptcy protection
(Bankr. D. Del. Proposed Lead Case No. 15-12136) on Oct. 14, 2015.
The petition was signed by Michael J. McClure as chief executive
officer.

The Debtors have engaged McDermott Will & Emery LLP as general
bankruptcy counsel, Polsinelli PC as local Delaware counsel, Faegre
Baker Daniels LLP as special regulatory counsel, BDO USA LLP as
financial consultant and Rust Consulting/Omni Bankruptcy as notice
and claims agent.

The Debtors disclosed total assets of $25.20 million and total
debts of $91.26 million as of Aug. 31, 2015.

Founded in June 1998, Affirmative provides non-standard personal
automobile insurance policies for individual consumers in targeted
geographic markets.  NSPAI policies provide coverage to drivers who
find it difficult to obtain insurance from standard automobile
insurance companies due to their lack of prior insurance, age,
driving record, limited financial resources, or other factors.


AFFIRMATIVE INSURANCE: Seeks Joint Administration of Cases
----------------------------------------------------------
Affirmative Insurance Holdings, Inc., et al., ask the Bankruptcy
Court to direct the joint administration and consolidation of
their Chapter 11 cases.

The Debtors tell the Court that many of the motions, applications,
hearings, and orders that will arise in these Chapter 11 cases will
affect most, if not all, of them jointly.  For this reason, the
Debtors assert that their interests, as well as the interests of
their creditors and other parties would be best served by the joint
administration of these Chapter 11 cases.

"Joint administration of these Chapter 11 Cases will ease the
administrative burden on this Court and all parties in interest,"
says Christopher A. Ward, Esq., at Polsinelli PC, counsel to the
Debtors.  Joint administration, according to Mr. Ward, will not
prejudice creditors or other parties-in-interest because the relief
requested is purely procedural and will not impact the parties'
substantive rights.

The Debtors further seek an order directing the Clerk of the Court
to maintain one file and one docket for all of these Chapter 11
cases under the case of Affirmative Insurance Holdings, Inc.

Pursuant to Bankruptcy Rule 1015(b), if two or more petitions are
pending in the same court by or against a debtor and an affiliate,
"the court may order a joint administration of the estates."

                    About Affirmative Insurance

Affirmative Insurance Holdings, Inc., Affirmative Management
Services, Inc., Affirmative Services, Inc., Affirmative
Underwriting Services, Inc., Affirmative Insurance Services, Inc.,

Affirmative General Agency, Inc., Affirmative Insurance Group, Inc.
and Affirmative, L.L.C. sought Chapter 11 bankruptcy protection
(Bankr. D. Del. Proposed Lead Case No. 15-12136) on Oct. 14, 2015.
The petition was signed by Michael J. McClure as chief executive
officer.

The Debtors have engaged McDermott Will & Emery LLP as general
bankruptcy counsel, Polsinelli PC as local Delaware counsel, Faegre
Baker Daniels LLP as special regulatory counsel, BDO USA LLP as
financial consultant and Rust Consulting/Omni Bankruptcy as notice
and claims agent.

The Debtors disclosed total assets of $25.20 million and total
debts of $91.26 million as of Aug. 31, 2015.

Founded in June 1998, Affirmative provides non-standard personal
automobile
insurance policies for individual consumers in targeted geographic
markets.  NSPAI policies provide coverage to drivers who find it
difficult to obtain
insurance from standard automobile insurance companies due to
their lack of prior insurance,
age, driving record, limited financial resources, or other
factors.


ALEXZA PHARMACEUTICALS: Names Thomas King PFO and PAO
-----------------------------------------------------
The board of directors of Alexza Pharmaceuticals, Inc., appointed
Thomas B. King, the Company's president and chief executive
officer, as the Company's principal financial officer and principal
accounting officer, effective upon the resignation Mark K. Oki, the
Company's current principal financial officer and principal
accounting officer, on Oct. 16, 2015.

Mr. King has served as the Company's president, chief executive
officer and a member of the Company's board of directors since June
2003.  Mr. King will not receive any additional compensation in the
2015 fiscal year as a result of being appointed as the Company's
principal financial offer and principal accounting officer,
according to a regulatory filing with the Securities and Exchange
Commission.

                            About Alexza
   
Mountain View, California-based Alexza Pharmaceuticals, Inc., was
incorporated in the state of Delaware on Dec. 19, 2000, as FaxMed,
Inc.  In June 2001, the Company changed its name to Alexza
Corporation and in December 2001 became Alexza Molecular Delivery
Corporation.  In July 2005, the Company changed its name to Alexza
Pharmaceuticals, Inc.

The Company is a pharmaceutical development company focused on the
research, development, and commercialization of novel proprietary
products for the acute treatment of central nervous system
conditions.

As of June 30, 2015, the Company had $32.6 million in total assets,
$96.5 million in total liabilities and a stockholders' deficit of
$63.9 million.

Alexza Pharmaceuticals reported a net loss of $36.7 million in 2014
compared to a net loss of $39.6 million in 2013.

Ernst & Young LLP, in Redwood City, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has recurring
losses from operations and has a net capital deficiency that raise
substantial doubt about its ability to continue as a going concern.


ALLIANCE ONE: Exchange Offer Expired October 13
-----------------------------------------------
Alliance One International, Inc., filed a final amendment to its
tender offer statement on Schedule TO under which Alliance One's
eligible employees were permitted to exchange some or all of their
outstanding options with an exercise price equal to $60.00 per
share for restricted stock units, except for employees in Canada
who would receive new stock options with new vesting schedules and
exercise prices.

The offer expired at 12:00 p.m., New York City time, on Oct. 13,
2015.  A total of 31 eligible employees participated in the offer,
none of whom reside in Canada.  Pursuant to the terms and
conditions of the Offer to Exchange, the Company accepted for
exchange all eligible options validly tendered, and not validly
withdrawn, as of such expiration date, which in the aggregate
totaled options to purchase 175,000 shares of the Company's common
stock, representing approximately 97% of the eligible options
subject to the offer.  All eligible options accepted in the offer
have been cancelled, and the Company granted a total of 29,219 RSUs
and 0 new options in exchange therefor, pursuant to the terms of
the Offer to Exchange.

                        About Alliance One

Alliance One International is a leading global independent leaf
merchant.  Visit the Company's Web site at http://www.aointl.com/


Alliance One reported a net loss of $15.6 million on $2.10 billion
of sales and other operating revenues for the year ended March 31,
2015, compared to a net loss of $87 million on $2.3 billion of
sales and other operating revenues for the year ended March 31,
2014.

                            *    *    *

As reported by the TCR on Feb. 12, 2015, Moody's Investor Service
downgraded the Corporate Family Rating of Alliance One
International, Inc. (AOI) to Caa1 from B3.  The downgrade of AOI's
CFR to Caa1 reflects Moody's expectation that credit metrics will
remain weak over the next 12 - 18 months.

The TCR reported on April 13, 2015, that Standard & Poor's Ratings
Services lowered its corporate credit rating on Morrisville,
N.C.-based Alliance One International Inc. to 'CCC+' from 'B-'.


ALONSO & CARUS: Refutes Committee's Claims That Plan Unconfirmable
------------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 case of Alonso & Carus Iron Works, Inc., asked the U.S.
Bankruptcy Court for the District of Puerto Rico to reject the
Debtor's disclosure statement because it's describing a
reorganization plan that is patently unconfirmable.

The Committee says it would be an unnecessary waste of
administrative resources to move forward with the Plan solicitation
and confirmation process as the Debtor's Plan is not confirmable.
According to the Committee, the Plan is not confirmable for two
reasons:

   -- First, the Plan is not fair and equitable to general
unsecured creditors as required by section 1129(b)(2)(B)(ii) of the
Bankruptcy Code -- in other words, the Plan violates what is
commonly known as the "absolute priority rule."

   -- Second, the Plan is not feasible under section 1129(a)(11) of
the Bankruptcy Code because it describes a Plan that includes
projections that have already proved to be inaccurate and cannot be
substantiated, and by its own terms is unconfirmable as the Plan
requires further financial reorganization.

The Committee notes that the Debtor is proposing to pay holders of
general unsecured claims over a period of 72 months (6 years)
without interest (and, thus, the Plan correctly identifies general
unsecured claims as impaired).  Accordingly, in order to satisfy
the absolute priority rule, the Plan must not provide a
distribution to any class of claims or interests that is junior to
holders of general unsecured claims.  In its current form, however,
the Plan, the Committee, points out, fails to satisfy the
requirements of the absolute priority rule because it provides that
the "Debtor's shareholders will retain their shares in Debtor,
unaltered.

The Committee also notes that as set forth in Article IV of the
Plan, BPPR's secured claim totaling approximately $11,200,000 will
be paid in full over a 300 month (25 year) period, with monthly
payments totaling approximately $67,000, including interest at
5.25% per annum.  The Plan also contemplates balloon payments due
to BPPR on June 30, 2020, which the Debtor "expects to renegotiate.
. ."  The Debtor, according to the Committee, has not provided any
evidence that it will be able to obtain sufficient funding to make
or renegotiate the balloon payments.

"Assuming that the Projections are even accurate, which, as
demonstrated previously, they are not, on June 30, 2020, the Debtor
will have a cash balance of approximately $1,275,977, while the
balloon payments could total approximately $7,200,000. Therefore,
if the Debtor is unable to renegotiate the balloon payments or
obtain alternative financing, it will not have sufficient cash to
make the balloon payments and it will be forced to liquidate or
reorganize.  Accordingly, the Plan, in its present form, is not
feasible.  Despite the Debtor's unsubstantiated confidence that it
can renegotiate the balloon payments, the fact that the Debtor must
do so renders the Plan not feasible under section 1129(a)(11) of
the Bankruptcy Code, which prohibits the confirmation of a plan
that will likely be followed by "the need for further financial
reorganization." See 11 U.S.C. Sec. 1129(a)(11).  Under the Plan,
further financial reorganization is not just likely; it is
required," counsel to the Committee, Javier Vilarino, Esq., at
Vilarino & Associates LLC, tells the Court.

                       Debtor's Response

According to the Debtor, contrary to the Committee's assertion, the
Plan is fair and equitable to general unsecured creditors as they
are to receive thereunder 100% of their claims and it does not
violate the absolute priority rule since the equity holders
retention of their shares does not affect such recovery,
particularly when they are not to receive any dividends on their
claims as Class 3 general unsecured creditors in order to expedite
the payments to the other members of such Class.  The Debtor
contends the Plan is feasible, as it will be proven during the
hearing on its confirmation, without the need of any further
reorganization.

The Debtor says it will have the funds to make the payments on the
Effective Date.  During the second year of the Plan and thereafter,
Debtor's cash flows will cover all required payments under the
Plan, more easily made, due to the elimination of the Chapter 11
costs (i.e. professional fees, US Trustee fees and payments on the
Effective Date, etc.)

In terms of the negotiations with BPPR, as to the balloon payment,
this is an issue that is foreseen to be dealt with 60 months after
the Effective Date, and a matter not uncommon in Puerto Rico.
Although it may be true that BPPR may not accept an extension of
the balloon payment, if that would be the case, at that time the
general Unsecured Creditors will have received 60 of the 72 monthly
installments to be made under the Plan or 83% of their claims.
BPPR is still negotiating with Debtor and has not made any
expressions against the Plan.

According to the Debtor, in the event that the administrative
costs, due to delays in confirming the Plan, increase over those
budgeted amounts, it may be forced to file an amended Plan reducing
dividends to General Unsecured Creditors, to tailor all payments to
its cash flows.

                     Servimental Objection

Servimetal LLC, filed an objection to the approval of the adequacy
of Debtor’s Disclosure Statement, on the basis that the amount
listed in Debtor’s Schedule F as owed to Servimetal ($28,884.90)
does not include 1% interest as per the terms of Servimetal’s
invoices and that said amount is the one listed in the Disclosure
Statement as owed to Servimetal.

The Debtor responded that a difference of $852.95 does not
constitute valid grounds to assert that the Disclosure Statement
does not meet the standards of Section 1125(a). The Debtor's
counsel attempted to reach Servimetal's counsel to advise her that
the amount of $29,737.85 is recognized as owed by Debtor.

                       The Debtor's Plan

The Plan provides for the payment in full to all creditors:

   (i) BPPR's secured claims in the amount of approximately
$11,200,000 -- the total amount outstanding under two loans BPPR
provided to the Debtor -- will be paid in full over a 300 month
period (25 years), including interest at 5.25% per annum.  The
monthly payments to BPPR will total $67,007.01 and that both loans
will have a balloon payment on June 30, 2020.  The Debtor expects
to re-negotiate the balloon payments before such date and continue
with the monthly payments as set forth above.  BPPR's claims are
impaired.

  (ii) The claims of general unsecured creditors -- the total of
which the Debtor estimates to be approximately $3,800,000 -- will
be paid in full over a 72 month period (6 years), in equal monthly
installments of $50,460, without interest.  The claims of general
unsecured creditors are impaired.

(iii) The Equity Holders will retain their shares in the
reorganized Debtor unaltered.  The interests of shareholders are
unimpaired.

                           *     *     *

The Debtor on May 28, 2015, filed its Chapter 11 Plan of
Reorganization and explanatory Disclosure Statement.  A hearing on
the Disclosure Statement was scheduled for Aug. 18, but the hearing
was rescheduled to Oct. 9 at the request of the Creditors Committee
and certain creditors.

According to the minutes of the Oct. 9 hearing, the Unsecured
Creditors' Committee and debtor are granted 14 days to inform the
court on the status of exchange of information relative to the
approval of the Disclosure Statement.  The Debtor will file a
response to PREPA's opposition re adequate assurance under Sec.
366. he objection to the Disclosure Statement by Servimetal LLC
(Dkt. #151) in light of Debtor's response is denied.  The
difference in the claim amount is de minimis and Debtor admits to
the amount claimed by Servimetal.  Thus, there is no impact on
Servimetal's knowledge on how to vote re plan confirmation. Order
is due by Oct. 26, 2015.

Debtor's attorneys:

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

The Committee's counsel:

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

              - and -

        LOWENSTEIN SANDLER LLP
        Jeffrey D. Prol, Esq.
        65 Livingston Avenue
        Roseland, New Jersey 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.

On July 14, 2015, the Office of the U.S. Trustee formed an Official
Committee of Unsecured Creditors.  The Creditors Committee 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.


AOXING PHARMACEUTICAL: Swings to $5.5M Net Income in Fiscal 2015
----------------------------------------------------------------
Aoxing Pharmaceutical Company, Inc., filed with the U.S. Securities
and Exchange Commission its annual report on Form 10-K disclosing
net income attributable to shareholders of the Company of $5.49
million on $25.48 million of sales for the year ended June 30,
2015, compared to a net loss attributable to shareholders of the
Company of $8.21 million on $12.7 million of sales for the year
ended June 30, 2014.

As of June 30, 2015, the Company had $53.0 million in total assets,
$42.97 million in total liabilities and $10.1 million in total
equity.

BDO China Shu Lun Pan Certified Public Accountants LLP, in
Shanghai, People's Republic of China, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2015, stating that the Company accumulated a large
deficit and a working capital deficit that 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/msw40L

                           About Aoxing

Aoxing Pharmaceutical Company, Inc., has one operating subsidiary,
Hebei Aoxing Pharmaceutical Co., Inc., which is organized under the
laws of the People’s Republic of China.  Since 2002, Hebei Aoxing
has been engaged in developing narcotics and pain management
products.  In 2008 Hebei Aoxing supplemented its product lines by
acquiring Shijiazhuang Lerentang Pharmaceutical Company, Ltd., a
specialty pharmaceutical company focusing on herbal pain related
therapeutics.  The Company owns 95% of the equity in Hebei Aoxing.



ATLANTIC & PACIFIC: Ex-Pathmark Staff Opposes Pension Termination
-----------------------------------------------------------------
A staff who worked for 30 years at Pathmark sent a letter to the
U.S. Bankruptcy Court to object to the proposed termination of his
pension.

Louis Perillo of Bronx, N.Y., said he needs the pension to p ay for
his medical treatment.  He recounted that for the last seven months
he has been in two hospitals and one rehabilitation facility.  

"Two months in the ICU, four months in an acute care hospital and I
am now in a sub acute rehabilitation hospital," Mr. Perillo wrote.
"My hospital Medicare benefits have ended and my Medicare rehab
benefits will end December 5, 2015.  I was on dialysis for 7-8
weeks. I have a tracheotomy and was on a vent for about 5 months.
The doctors are trying to wean me off of the trach.  I have many
more months of physical rehab so that I can walk and go home."

"Please take my plight into consideration when you make your
decision," Mr. Perillo wrote.

                     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.


ATP OIL: OHA Investment Settles Certain Elements of Litigation
--------------------------------------------------------------
OHA Investment Corporation on Oct. 14 disclosed that it has reached
a settlement of certain elements of the ATP Litigation.

As described in OHAI's report on Form 10-Q for the quarterly period
ended June 30, 2015 and numerous previous public filings, OHAI has
been involved in a series of legal actions, collectively known at
the ATP Litigation, that relate to OHAI's limited term overriding
royalty interests (the "ORRIs") in certain oil and gas properties
operated by Bennu Oil & Gas.  OHAI has reached a settlement that
would, if approved by the bankruptcy court, along with the proposed
Agreed Judgment, substantially resolve Phase 1 of the ATP
Litigation, including the risk that OHAI would be required to
disgorge the ORRI payments made since August 2012 based on an
alleged re-characterization of the ORRIs.  This resolution would
also allow the litigation to proceed to Phase 2.

OHAI, along with Bennu, the Chapter 7 Trustee, and Credit Suisse
AG, as agent for the lenders associated with ATP's
debtor-in-possession ("DIP") financing facility, on Oct. 14 filed a
Stipulation of Settlement and Release with the bankruptcy court
(the "Stipulation").  Pursuant to the Stipulation, the parties have
agreed to a settlement pursuant to which (1) the Trustee will
release his alleged Section 547 preference claims against OHAI in
exchange for a payment of $335,000; (2) the Trustee will release
his alleged Section 549 post-petition claims against OHAI in
exchange for a $3 million reduction in the outstanding DIP
obligations held by Credit Suisse AG as agent for the DIP lenders;
(3) the Trustee and OHAI will dismiss their claims against each
other; (4) OHAI will receive a full release of all claims and
certain stipulations from the Trustee; (5) mutual releases will be
exchanged between OHAI and Credit Suisse AG, as agent for the DIP
lenders; and (6) OHAI and Bennu will be free to pursue their Agreed
Judgment described below.

As previously disclosed in OHAI's public filings, OHAI and Bennu
had sought entry of an Agreed Judgment that was opposed by the
Trustee.  If the Stipulation is approved by the bankruptcy court,
OHAI and Bennu would again seek entry of an Agreed Judgment which
would determine that, among other things, the ORRIs are a real
property interest and a "production payment" within the meaning of
the Bankruptcy Code, and that the ORRIs are not and never were
property of ATP's bankruptcy estate.  Neither party would make any
payment to the other with respect to the proposed Agreed Judgment.
The proposed Agreed Judgment does not address any disputes between
OHAI and Bennu with respect to the terms of the ORRIs, including
those relating to the treatment of OHAI's legal fees, default
interest, or the claims asserted by the statutory lien claimants.


The Stipulation and the proposed Agreed Judgment are contingent
upon bankruptcy court approval.  Other parties to the ATP
bankruptcy case may oppose the Stipulation, and other parties to
the adversary proceeding may oppose the Agreed Judgment.
Accordingly, there can be no assurance that they will be approved
or ultimately become effective.

The Stipulation and proposed Agreed Judgment would not affect Phase
2 of the ATP Litigation, which principally relates to certain
statutory lien claims and the terms of the ORRIs, including the
calculation of the royalty payments necessary to cause termination
of the ORRIs.  The claims subject to dispute in Phase 2 are, on
their face, substantial.  Since discovery has not commenced on the
Phase 2 issues, specific details of the relevant claims have yet to
be clarified.

                 About OHA Investment Corporation

OHA Investment Corporation is a specialty finance company designed
to provide its investors with current income and capital
appreciation.  OHAI focuses primarily on providing creative direct
lending solutions to middle market private companies across
industry sectors.  OHAI is externally managed by Oak Hill Advisors,
L.P. -- http://www.oakhilladvisors.com-- an independent investment
firm.  Oak Hill Advisors has deep experience in direct lending,
having invested approximately $3 billion in nearly 100 direct
lending investments over the past 12 years.

OHAI was formerly known as NGP Capital Resources Company prior to
Oak Hill Advisors assuming the external manager role for the
Company on September 30, 2014.  OHAI has elected to be regulated as
a business development company under the Investment Company Act of
1940.

                          About ATP Oil

Houston, Texas-based ATP Oil & Gas Corporation is an international
offshore oil and gas development and production company focused in
the Gulf of Mexico, Mediterranean Sea and North Sea.

ATP Oil & Gas filed a Chapter 11 petition (Bankr. S.D. Tex. Case
No. 12-36187) on Aug. 17, 2012.  Attorneys at Mayer Brown LLP,
serve as bankruptcy counsel.  Munsch Hardt Kopf & Harr, P.C., is
the conflicts counsel.  Motley Rice LLC and Fayard & Honeycutt, APC
serve as special counsel.  Opportune LLP is the financial advisor
and Jefferies & Company is the investment banker.

Kurtzman Carson Consultants LLC is the claims and notice agent.

ATP disclosed assets of $3.6 billion and $3.5 billion of
liabilities as of March 31, 2012.  Debt includes $365 million on a
first-lien loan where Credit Suisse AG serves as agent.  There is
$1.5 billion on second-lien notes with Bank of New York MellonTrust
Co. as agent.  ATP's other debt includes $35 million on convertible
notes and $23.4 million owing to third parties for their shares of
production revenue.  Trade suppliers have claims for $147 million,
ATP said in a court filing.

An official committee of unsecured creditors has been appointed in
the case.  Evan R. Fleck, Esq., at Milbank, Tweed, Hadley & McCloy,
in New York, represents the Creditors Committee as counsel.

A seven-member panel of equity security holders has also been
appointed in the case.  Kyung S. Lee, Esq., and Charles M. Rubio,
Esq. of Diamond McCarthy LLP, in Houston, Texas, serve as counsel
to the Equity Committee.

Judge Marvin Isgur of the U.S. Bankruptcy Court for the Southern
District of Texas, Houston Division, issued an order on June 26,
2014, converting ATP Oil & Gas Corporation's Chapter 11 case to one
under Chapter 7 of the Bankruptcy Code.



BEHR LLC: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Behr, LLC
           dba Behr Construction, LLC
        PO Box 2771
        Fort Smith, AR 72913

Case No.: 15-72619

Chapter 11 Petition Date: October 14, 2015

Court: United States Bankruptcy Court
       Western District of Arkansas (Fort Smith)

Judge: Hon. Ben T Barry

Debtor's Counsel: Stanley V Bond, Esq.
                  BOND LAW OFFICE
                  P.O. Box 1893
                  Fayetteville, AR 72701-1893
                  Tel: (479) 444-0255
                  Fax: (479) 444-7141
                  Email: attybond@me.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Brandon Woodrome, owner - managing
member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/arwb15-72619.pdf


BLUE EAGLE: Moody's Assigns 'B3' Corporate Family Rating
--------------------------------------------------------
Moody's Investors Service assigned Blue Eagle Holdings III, L.P.
("Enterprise OLS") a first-time B3 Corporate Family Rating (CFR)
and a B3-PD Probability of Default Rating. Moody's also assigned a
B2 rating to Enterprise OLS' proposed $600 million of first lien
credit facilities and a Caa2 rating to its $100 million of second
lien term loan facility. The rating outlook is stable. The proceeds
from the credit facilities, along with $234 million of equity, will
be used to finance the $750 million acquisition of the Operations
and Commerce Services business units of eBay Inc.'s enterprise
segment by funds affiliated with Sterling Partners and Longview
Asset Management. The acquired operations will be merged with
Innotrac Corporation, a company owned by Sterling Partners, to
create Enterprise OLS, a provider of outsourced ecommerce services.
The businesses acquired from eBay Inc. will comprise the bulk of
the combined company's revenues and adjusted EBITDA.

RATINGS RATIONALE

The B3 CFR primarily reflects Enterprise OLS' low projected free
cash flow over the next 12 to 18 months and elevated execution
risks in managing the transition to a standalone entity, achieving
cost synergies and integrating the operations of the two companies.
In addition, Enterprise OLS continues to face pricing pressure in
the core logistics business. Enterprise OLS' current profitability
is modest but Moody's expects the company's EBITDA margin to
increase to 16% in 2016 (based on realized cost savings and
incorporating Moody's standard adjustments) through cost synergies
and productivity gains. Moody's expects elevated capital spending
to support growth and integration and transition costs will
constrain free cash flow generation in 2016, and almost the entire
free cash flow will be generated in the seasonally strong fourth
quarter. However, Moody's expects free cash flow to increase from
about 3% of total debt in 2016 to approximately 12% to 13% of total
debt in 2017, as capital expenditures and restructuring and
integration costs decline and cost synergies are realized.

The rating benefits from Enterprise OLS' enhanced scale as a
leading provider of fulfillment services and growing demand for
ecommerce fulfillment services. While Enterprise OLS' annual
revenue growth rates are expected to be uneven over the next two to
three years due to anticipated customer losses and pricing
pressure, Moody's expects revenue growth to average at least 5%
over this period. The rating is additionally supported by the high
proportion of revenues that are expected under existing contacts.

Enterprise OLS has adequate liquidity over the next 12 to 15
months, primarily comprising its $60 million revolving credit
facility that is expected to remain undrawn at closing, about $20
million of cash at close, and approximately $20 million to $25
million in free cash flow in 2016. These sources adequately cover
the approximate $5.4 million of required annual term loan
amortization.

The stable rating outlook is based on Moody's expectations that
Enterprise OLS will generate revenue growth in the mid-to-high
single digit percentages in 2016 and free cash flow of at least $20
million in 2016.

Moody's could upgrade Enterprise OLS' ratings if it maintains
revenue growth in the mid to high single digit percentages, it
realizes targeted cost savings and generates free cash flow in
excess of 10% of total debt on a sustained basis.

The ratings could be downgraded if Enterprise OLS' operating
performance fails to improve as anticipated as a result of delays
in achieving cost savings, higher than expected cost outlays,
pricing pressure, or revenue and operating cash flow fall short of
the company's plan. Liquidity deterioration could also result in a
downgrade.

Moody's assigned the following ratings to Blue Eagle Holdings III,
L.P.:

Corporate Family Rating, Assigned B3

Probability of Default Rating, Assigned B3-PD

1st lien revolving credit facility, Assigned B2 (LGD3)

1st lien term loan facility, Assigned B2 (LGD3)

2nd lien term loan facility, Assigned Caa2 (LGD5)

Outlook is Stable

Enterprise OLS is a provider of ecommerce services with
approximately $1.2 billion in annual revenues pro forma for the
combination of a portion of eBay Inc's enterprise business unit
with Innotrac Corporation.



BWAY HOLDING: Moody's Affirms 'B3' Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service affirmed the B3 corporate family rating,
B3-PD probability of default rating and instrument ratings to BWAY
Holding Company, Inc. The rating outlook was revised to stable from
negative.

BWAY Holding Company, Inc.

-- Affirmed B3 corporate family rating

-- Affirmed B3-PD probability of default rating

-- Affirmed $1,220 million senior secured term loan due August
    2020, B2 (LGD 3)

-- Affirmed $650 million senior unsecured notes due August 2021,
    Caa2 (LGD 5)

The ratings outlook is revised to stable from negative.

RATINGS RATIONALE

The revision of the outlook to stable reflects the improvement in
operating results from the company's cost saving and pricing
initiatives and continued positive free cash generation. The
revision also reflects BWAY's continued good liquidity and an
expectation of further improvements in credit metrics. While the
company's end markets may remain sluggish over the near term, BWAY
is expected to continue to generate positive free cash flow,
dedicate all free cash flow to debt reduction and maintain good
liquidity.

BWAY's B3 corporate family rating reflects the weak credit metrics,
high concentration of sales and cyclical nature of the primary end
market. The rating also reflects the company's financial
aggressiveness and the sponsor's lack of equity left in the company
after the second debt financed dividend. The company generates
approximately 52% of its revenue from the US housing and
construction-related end markets (including paint and other
building products) and 15% from one customer. Additionally, the top
ten customers account for approximately 35% of revenue (50% in the
metal segment). While most of the company's acquisition targets are
smaller bolt-on, the potential for a larger debt-financed
acquisition exists and integration risk remains. The company has
long-term contracts with customers that contain cost pass-through
provisions for core raw materials, but other costs are excluded and
the contracts allow for competitive bids.

The ratings are supported by the company's strong competitive
position in the US housing and construction-related end markets
including a dominant share in the metal segment and the limited
number of suppliers with scale and breadth of product line. BWAY
also benefits from strong liquidity, long-standing customer
relationships and some exposure to the relatively more stable
consumer products related end markets. The company has limited
competition from imports due to the freight costs for most of its
products (bulky and light empty pails) and the comparatively low
percentage of labor costs. The ratings are also supported by
anticipated benefits from completed and in-process cost saving
initiatives and the reduction of onetime charges in 2016. BWAY has
pledged to direct all free cash flow to debt reduction.

The rating could be upgraded if BWAY sustainably improves credit
metrics and maintains strong liquidity within the context of a
stable operating and competitive environment. The company would
also need to adopt less aggressive financial policies.
Specifically, the ratings could be upgraded if debt to EBITDA
declines below 5.5 times, funds from operations to debt increases
to above 8.75% and EBITDA to gross interest improves to over 2.0
times.

The rating could be downgraded if BWAY fails to improve credit
statistics or there is a deterioration in liquidity, and/or the
operating and competitive environment. Continued aggressive
financial policies could also pressure the rating. Specifically,
the rating could be downgraded if total debt to EBITDA remains
above 7.0 times, funds from operations to debt remains below 6.0%
and EBITDA to gross interest remains below 2.0 time.

The principal methodology used in these ratings was Packaging
Manufacturers:Metal, Glass, and Plastic Containers published in
September 2015.

BWAY Holding Company, Inc. manufactures general line metal and
plastic containers for industrial and consumer products. Metal
containers accounted for approximately 48% of BWAY's revenue in
fiscal 2014 and plastic containers for 52%. With 24 manufacturing
facilities across the United States and in Canada and Puerto-Rico,
BWAY is a national supplier of steel paint cans, plastic pails,
paint bottles and ammunition boxes. The company generates 90% of
sales in the U.S. and 9% in Canada. Revenue for the twelve months
ended June 30, 2015 was approximately $1.5 billion. BWAY was
acquired by an affiliate of Platinum Equity, LLC on November 5,
2012 in a largely debt financed deal that included approximately
$267.4 million in equity (after the working capital adjustment).



CALIFORNIA COMMUNITY: May Access Cash Collateral Until December 31
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of California
authorized California Community Collaborative Inc. to continue, on
a final basis, to use cash collateral for the period Sept. 1, 2015,
through Dec. 31, 2015, pursuant to the budget.

The Court also authorized the Debtor to continue making adequate
protection payments to its secured
creditors, the San Bernardino County Tax Collector and the
California Bank and Trust.

A full-text copy of the cash collateral budget is available for
free at http://is.gd/B9kCSA

As reported by the Troubled Company Reporter on Aug. 28, 2015,
proceeds of the cash collateral -- consisting of rents collected
from tenants at its building located in 655 West 2nd Street, San
Bernardino, California -- will be used to pay expenses incurred
from the real property and the operation of its business for the
period Sept. 1, 2015 to Dec. 31, 2015.  

Judge Christopher M. Klien had previously issued a final order
approving the Debtor's continued use of the cash collateral and to
make adequate protection payments to the Bank and the County for
the period July 1, 2015 through Aug. 31, 2015.

The Judicial Council of California, which operates the Child
Support Division of the Superior Court for the County of San
Bernardino, is currently leasing approximately 26,500 square feet
of space in the Debtor's two-storey office building. The gross rent
and CAM charges due from the Council currently totals approximately
$67,000 per month and the lease extends to February 2018. With the
Court's approval, the Debtor entered a 10-year lease of 39,000
square feet of space on the first floor of the building with the
Rex and Margaret Fortune School of Education. Fortune is
anticipated to occupy the leased premises in December 2015.

Anthony Asebedo, Esq., at Meegan, Hanschu & Kassenbrock, in Gold
River, California, told the Court that the Debtor had just learned
that the Judicial Council of California, which has agreed to terms
for a 10-year extension of its lease with the Debtor. He added that
the Debtor has submitted bids with the County of San Bernardino for
the lease of remaining space at its building. Mr. Asebedo noted
that the County and the Bank may assert a security interest in the
building, which may extend to the rents and profits from the
building.

Mr. Asebedo told the Court that in the ordinary course of the
Debtor's business, it will be necessary and vital for the Debtor to
continue to use the rents from the building. He believes that it is
in the best interest of the estate and creditors that the Debtor
continue to operate its business so as to obtain Fortune's
occupancy under the new lease and to otherwise increase the
occupancy rate at the building, so that the increased rental income
can be used to fund a Plan of Reorganization. Mr. Asebedo further
told the Court that cash from rents received by the Debtor
postpetition may be considered cash collateral.

                      About California Community

California Community Collaborative owns and rents to
non-residential tenants an office building located at 655 West 2nd
Street, San Bernardino, California.  The building was previously a
Mervyn's retail shopping center before it was acquired and later
remodeled into a two-story, 88,000 square foot office building.
The company was formed by Merrell Schexnydre, who is presently the
sole shareholder and president.

The Judicial Council of California leases about 26,000 square feet
of space at the building.

California Community filed a Chapter 11 bankruptcy petition
(Bankr.
E.D. Cal. Case No. 14-26351) on June 17, 2014.  Mr. Schexnydre
signed the petition.  Judge Christopher M. Klein presides over the
case.  The Debtor estimated assets of at least $10 million and
liabilities of $1 million to $10 million.

The Debtor tapped Meegan, Hanschu & Kassenbrock as counsel and
CBRE-Inland Commercial Real Estate as broker.


CALIFORNIA COMMUNITY: Plan Disclosure Hearing Continued to Nov. 4
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of California
continued to Nov. 4, 2015 at 10:00 a.m. the hearing to consider
approval of the disclosure statement explaining California
Community Collaborative, Inc.'s Plan of Reorganization dated March
26, 2015.

The Debtor on Sept. 30 filed a Third Amended Disclosure Statement,
which only contains minor changes to the Second Amended Disclosure
Statement filed Aug. 4, 2015.  The latest Disclosure Statement
provides that the IRS has a $100 priority tax claim, which, like
the California Franchise Tax Board's $1,600 claim, will be paid in
full no later than 1 year from the Effective Date.  A copy of the
Third Amended Disclosure Statement is available for free at:

     http://bankrupt.com/misc/Calif_Comm_353_3rd_Am_DS.pdf

The Debtor's proposed reorganization plan provides:

   -- The allowed secured claim of San Bernardino County Tax
Collector (Class 2.1) will be allowed shall be paid in full with
penalties, costs, fees, and the interest to accrue at the statutory
rate in accordance with the payment schedule calling for equal
annual installments of $41,168.

   -- The allowed secured claim of California Bank & Trust (Class
2.2) will be allowed the amount of $9,526,765 as of the
Confirmation Date, will bear interest at the rate 5.5% per year
from the Confirmation Date, and will be paid in full, with interest
in the form of a monthly payment of $45,000 to be applied to
interest plus a lump-sum payment before Jan. 30, 2017.

   -- General unsecured creditors (Class 4) are to receive a
distribution of 100% of their allowed claims, with simple interest
of 3% per year, to be distributed through twice-annual
disbursements over a period of no more than 36 months.

   -- Equity security holder Merrell Schexnydre (Class 5) will
retain his interest in the Debtor as same existed immediately prior
to the Petition Date.

                     About California Community

California Community Collaborative owns and rents to
non-residential tenants an office building located at 655 West 2nd
Street, San Bernardino, California.  The building was previously a
Mervyn's retail shopping center before it was acquired and later
remodeled into a two-story, 88,000 square foot office building.
The company was formed by Merrell Schexnydre, who is presently the
sole shareholder and president. The Judicial Council of California
leases about 26,000 square feet of space at the building.

California Community filed a Chapter 11 bankruptcy petition (Bankr.
E.D. Cal. Case No. 14-26351) on June 17, 2014.  Mr. Schexnydre
signed the petition.  Judge Christopher M. Klein presides over the
case.  

The Debtor estimated assets of at least $10 million and liabilities
of $1 million to $10 million.

The Debtor tapped Meegan, Hanschu & Kassenbrock as counsel and
CBRE-Inland Commercial Real Estate as broker.

                           *     *     *

California Community on March 26, 2015, filed a proposed
reorganization plan that proposes to pay off unsecured in full in
three years.

The Debtor on May 11, 2015, won approval from the Bankruptcy Court
to enter into a 10-year lease with Rex and Margaret Fortune School
of Education for 39,000 square feet of space at the Debtor's
property.   The Debtor also won approval to borrow as much as
$2,200,000 for the purpose of funding a $1,775,000
tenant-improvement allowance under the lease and for funding the
Debtor's operations.

From $12 million as of the bankruptcy filing, the Debtor believes
the value of the property has risen to $15 million to $16 million
after the execution of the Fortune lease in March 2015.


CAROLYN DAVIS: Justices Reject Bankruptcy, Debt Collection Petition
-------------------------------------------------------------------
Chris Bruce, writing for Bloomberg News, reported that the U.S.
Supreme Court on Oct. 13 declined to hear an appeal from a Feb. 17,
2015 ruling by the U.S. Court of Appeals for the Ninth Circuit that
applied the statutory limit for filings under Chapter 12 of the
Bankruptcy Code (Davis v. U.S. Bank N.A., U.S., No. 15-cv-00017,
petition for certiorari denied, 10/13/15).

According to the report, the debtor, Carolyn L. Davis, said the
Ninth Circuit's Bankruptcy Appellate Panel wrongly dismissed her
bankruptcy petition, holding her "aggregate debts" exceeded
$3,792,650, the statutory cap for Chapter 12 eligibility at that
time.

In other action, the justices also declined to hear a petition from
a July 23, 2014, ruling by the Indiana Court of Appeals that
rebuffed a Fair Debt Collection Practices Act suit against Discover
Bank (Bramage v. Discover Bank, U.S., No. 15-cv-05541, petition for
certiorari denied, 10/13/15).  Walter J. Bramage, a credit card
borrower, alleged violations of the FDCPA and the
Gramm-Leach-Bliley Act, but the Indiana court upheld a trial court
that dismissed the suit, the report related.

In addition, the Supreme Court Oct. 13 said no to a petition by
borrowers who challenged a foreclosure upheld by the Sixth Circuit
in a Feb. 27, 2015 ruling (Gjokaj v. HSBC Mortgage Srvcs. Inc.,
U.S., No. 15-cv-00143, petition for certiorari denied, 10/13/15).
Shace Gjokaj and said a district court wrongly dismissed their suit
Vata Gjokaj challenging a foreclosure-by-advertisement of their
home under Michigan law, and the Sixth Circuit agreed with the
district court's assessment that they failed to comply with the
law, the report further related.


CBA 54: Voluntary Chapter 11 Case Summary
-----------------------------------------
Debtor: CBA 54
        14930 Ventura Boulevard, Suite 200
        Sherman Oaks, CA 91403

Case No.: 15-13429

Chapter 11 Petition Date: October 14, 2015

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

Judge: Hon. Maureen Tighe

Debtor's Counsel: Cynthia Futter, Esq.
                  FUTTER-WELLS PC
                  2463 Ashland Ave
                  Santa Monica, CA 90405
                  Tel: 310-450-6857
                  Fax: 888-907-0006
                  Email: cfutter@futterwells.com

Estimated Assets: $10 million to $50 million

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

The petition was signed by Firooz Payan, managing member.

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


CELL ACCESS: Case Summary & 8 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Cell Access Cellular Inc.  
           aka CAI International Inc.
           dba AT&T Mobility
        15935 NW 57 Ave
        Hialeah, FL 33014

Case No.: 15-28279

Chapter 11 Petition Date: October 14, 2015

Court: United States Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Hon. Jay A. Cristol

Debtor's Counsel: Joel M. Aresty, Esq.
                  JOEL M. ARESTY P.A.
                  309 1st Ave S
                  Tierra Verde, FL 33715
                  Tel: 305.899.9876
                  Fax: 305.723.7893
                  Email: aresty@mac.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Avelino A. Vega, president.

A list of the Debtor's eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/flsb15-28279.pdf


CHINA GINSENG: Incurs $3.9 Million Net Loss in Fiscal 2015
----------------------------------------------------------
China Ginseng Holdings, Inc. filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$3.90 million on $272,600 of revenue for the year ended June 30,
2015, compared with a net loss of $4.76 million on $2.61 million of
revenue for the year ended June 30, 2014.

As of June 30, 2015, the Company had $8.34 million in total assets,
$18.0 million in total liabilities, and a $9.67 million total
stockholders' deficit.

Cowan, Gunteski & Co., P.A., in Tinton Falls, NJ, issued a "going
concern" qualification on the consolidated financial statements for
the year ended June 30, 2015, citing that the Company had net
losses of $3.90 million and $4.76 million for the years ended June
30, 2015 and 2014, respectively, an accumulated deficit of $18.1
million at June 30, 2015 and a working capital deficit of $16.5
million at June 30, 2015, and there are existing uncertain
conditions the Company faces relative to its ability to obtain
working capital and operate successfully.  These conditions 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/5jSVrt

                        About China Ginseng

Changchun City, China-based China Ginseng Holdings, Inc., conducts
business through its four wholly-owned subsidiaries located in
China.  The Company has been granted 20-year land use rights to
3,705 acres of lands by the Chinese government for ginseng
planting and it controls, through lease, approximately 750 acres
of grape vineyards.  However, recent harvests of grapes showed
poor quality for wine production which indicates that the
vineyards are no longer suitable for planting grapes for wine
production.  Therefore, the Company has decided not to renew its
lease for the vineyards with the Chinese government upon
expiration in 2013 and, going forward, it intends to purchase
grapes from the open market in order to produce grape juice and
wine.


CLUB ONE CASINO: Case Summary & Largest Unsecured Creditors
-----------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

         Debtor                                   Case No.
         ------                                   --------
         Club One Casino, Inc.                    15-14017
         1033 Van Ness Avenue
         Fresno, CA 93721

         Club One Acquisition Corp.               15-14021
         11150 Santa Monica Blvd., Suite 700
         Los Angeles, CA 90025

Type of Business: Club One Casino, Inc. operates a card room in
                  Fresno, California.  Its facilities include
                  banquets, a bar, and a restaurant.

Chapter 11 Petition Date: October 14, 2015

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

Judge: Hon. Rene Lastreto II

Debtors' Counsel: T. Scott Belden, Esq.
                  BELDEN BLAINE, LLP
                  5100 California Avenue, Suite 101
                  Bakersfield, CA 93309
                  Tel: 661-864-7827
                  Fax: (661) 878-9797
                  Email: sbelden@beldenblaine.com
                  
                    - and -

                  Hagop T. Bedoyan, Esq.
                  KLEIN, DENATALE, GOLDNER, COOPER, ROSENLIEB
                  & KIMBALL, LLP
                  5260 N Palm Ave #201
                  Fresno, CA 93704
                  Tel: 559-438-4374
                  Email: hbedoyan@kleinlaw.com

                                      Estimated    Estimated
                                       Assets     Liabilities
                                     -----------  -----------
Club One Casino, Inc.                $10MM-$50MM  $10MM-$50MM
Club One Acquisition Corp.           $0-$50,000   $10MM-$50MM

The petition was signed by Kyle R. Kirkland, president.

A. List of Club One Casino, Inc.'s 19 Largest Unsecured Creditors:


   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Elaine R. Long, Trustee            Promissory Note     $4,150,000
7685 N. Ricewood Ave
Fresno, CA 93711

George L. Sarantos                 Promissory Note     $4,150,000
49 Scenic Crest Trail
Rancho Mirage, CA 92270

Milbank, Tweed, et al.               Legal Fees          $907,240
601 South Figueroa Street
Los Angeles, CA 90017

Dana D. Messina                    Management Fees       $190,000

ICW Group                          Trade Payables         $34,588

City of Fresno                     Tax Liability          $32,977

State Board of Equalization        Tax Liability          $21,090

Scientific Games                   Trade Payables         $10,918

Saladino's                         Trade Payables          $3,937

DEQ Systems Corp.                  Trade Payables          $3,650

U.S. Foodservice                   Trade Payables          $3,636

TelePacific Communications         Trade Payables          $2,950

AmeriPride Uniform Services        Trade Payables            $115

Arthur Moreno                        Lawsuit              Unknown

Employment Development Department   Payroll Tax           Unknown
                                     Liabilities

Internal Revenue Service            Payroll Tax           Unknown
                                     Liability

Linda Mazzei                        Workers' Comp         Unknown
                                       Claim

Thomas Bowers                         Employee            Unknown
                                     Litigation

U.S. Equipment Finance             Copier Lease           Unknown

B. List of Club One Acquisition Corp.'s four Largest Unsecured
Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Elaine L. Long Trust dated              Note           $4,150,000
6/22/2000
c/o Elaine L. Long, Trustee
7685 N. Ricewood
Fresno, CA 93711

Elaine L. Long Trust dated           Arbitration        $1,379,929
6/22/2000                              Award
c/o Elaine L. Long, Trustee
7685 N. Ricewood
Fresno, CA 93711

Elaine L. Long Trust dated            Attorney's         $400,000
6/22/2000                               Fees
c/o Elaine L. Long, Trustee
7685 N. Ricewood
Fresno, CA 93711

Milbank Tweed Haldey & McCoy, LLP     Attorney's         $907,240
601 S. Figueroa Street                  Fees
Los Angeles, CA 90017


COLT DEFENSE: Seeks to Retain Control of Ch. 11 Cases
-----------------------------------------------------
Colt Holding Company LLC, et al., ask the U.S. Bankruptcy Court for
the District of Delaware to extend their exclusive plan filing
period to Jan. 11, 2016, and their exclusive plan solicitation
period to March 10, 2016, to permit them to move forward on the
reorganization path without undue cost or distraction.

The Debtors have pursued a sale process while simultaneously
attempting to reach an agreement among major credit constituencies
that could be implemented through a plan of reorganization.

The Debtors, on Oct. 9, filed a plan of reorganization and
accompanying disclosure statement premised on a $50 million exit
financing facility from private-equity owner Sciens Capital
Management, LLC, Fidelity National Financial Inc., Newport Global
Advisors LP, and certain other lenders.

The Debtors will raise $50 million in new capital from the private
Offering of Offering Units consisting of (i) third lien secured
debt to be issued pursuant to a third lien exit facility and (ii)
100% of the New Class A LLC Units.  Participants in the private
Offering consist of the Sciens Group, certain members of the
Consortium, and Eligible Holders of Senior Notes Claims.  The
aggregate new capital raised through the Offering may be increased
by up to $5 million.

Each Holder of an Allowed General Unsecured Claim will receive a
note -- subordinate to the Exit Facilities -- or other
consideration as reasonably agreed upon by the Debtors, the RSA
Creditor Parties, and the Term Loan Exit Lenders, such
consideration to represent a percentage of recovery that is
reasonably equivalent to the percentage of recovery realized by the
Holders of Allowed Senior Notes Claims.  These Claims are Impaired
under the Plan.

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

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

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.


ERG INTERMEDIATE: Can File Chapter 11 Plan Until October 31
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
extended the exclusive periods of ERG Intermediate Holdings LLC and
its debtor-affiliates to:

   a) file a Chapter 11 plan through and including Oct. 31, 2015;
and

   b) solicit acceptances of that plan until Dec. 31, 2015.

As reported by The Troubled Company Reporter, the Debtors, unable
to find a buyer willing to pony up at least $250 million in cash,
filed a reorganization plan that contemplates giving control of the
company to their prepetition lenders.

The Allowed amount of Unsecured Claims is estimated to be between
$11.5 million and $64.0 million.  Given that the demand in the
Nabors Lawsuit is for no less than $40 million, it is possible that
Unsecured Claims could be paid in full in the Chapter 11 cases from
that litigation, although the Debtors will not receive the entirety
of any award in the Nabors Lawsuit.  At the same time, Unsecured
Claims could be paid substantially less than in full, and any
recovery on the Nabors Lawsuit or other Causes of Action of the
Exempt Assets Trust may not occur for a significant period of
time.

The Official Committee of Unsecured Creditors stated that it
supports the Plan as drafted, but reserved its rights, including
the right to move for termination of exclusivity, in the event that
the Debtors unilaterally seek to amend or modify the Plan in a
manner that deviates from or conflicts with the Court-approved
Settlement.

                         About ERG Resources

ERG Resources, LLC, is a privately owned oil & gas producer that
was formed in 1996.  Since 2010, ERG Resources and ERG Operating
Co. have been primarily engaged in the exploration and production
of crude oil and natural gas in the Cat Canyon Field in Santa
Barbara County, California.  ERG Resources owns 19,027 gross lease
acreage in the Cat Canyon Field.  ERG Resources also owns and
operates oil & gas leases representing 683 gross acres of leasehold
located in Liberty County, Texas.  The Company's corporate
headquarters is located in Houston, Texas.  Scott Y. Wood, through
two of his affiliates, owns 100% of the membership units in ERG
Intermediate Holdings LLC, the parent company.

ERG Intermediate Holdings, ERG Resources and three affiliates
sought Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No.
15-31858) on April 30, 2015, in Dallas, Texas.

The Debtors tapped Jones Day as counsel; DLA Piper as co-counsel;
AP Services, LLC, to provide a CRO; and Epiq Bankruptcy Solutions,
LLC.  The Debtors also obtained approval to retain the law firm of
Gibbs and Bruns to prosecute the Nabors Lawsuit on a contingency
fee basis.

ERG Intermediate estimated $100 million to $500 million in assets
and debt.

The U.S. Trustee overseeing the Chapter 11 case of ERG Intermediate
Holdings LLC appointed five creditors, led by Baker Petrolite
Corporation, to serve on the official committee of unsecured
creditors.  The Committee has tapped Pachulski Stang Ziehl & Jones
LLP as counsel.

In June 2015, the bankruptcy court denied a motion filed by the
Creditors Committee to transfer venue to the Central District of
California.


FIVE S PLUS: Amends Plan Outline After Lender Fired Objections
--------------------------------------------------------------
Five S Plus, LLC, delivered to the bankruptcy court an amendment to
the disclosure statement attached to its proposed Chapter 11
reorganization plan.  The hearing on the disclosure statement has
been continued to Nov. 4, 2015, at 9:30 a.m., according to the
minute entry of the Sept. 30 hearing.

The U.S. Bankruptcy Court for the Western District of Louisiana had
previously scheduled a Sept. 30 hearing on the disclosure statement
and set a Sept. 23 deadline for objections.

Trustland Mortgage, LLC, which asserts claims in excess of
$3,206,000 secured by the Debtor's real property, asked the Court
to deny approval of the Disclosure Statement filed Aug. 30, 2015.
In its objection, Trustland contends, among other things, that:

   * The Disclosure Statement fails to provide any information
which would indicate that the Debtor would be successful in
marketing the properties post-petition.

   * The Disclosure Statement fails to comply with the requirements
of Local Bankruptcy Rule 3016-2, including failing to include a
comparison of the estimated return to creditors, if the case were
converted to a case under Chapter 7 compared with the
reorganization of the Debtor;

   * The Disclosure Statement indicates that the Debtor will sell a
portion of the property but fails to designate which property would
be sold or in what amount.

   * The Debtor has proposed no marketing plan, no specific acreage
amount to be sold or any minimum price that would be acceptable to
the creditors and the estate.

   * The property has not sold after almost two years of marketing
the property and the Disclosure Statement provides no information
to support the theory that only a portion of the property should be
marketed and sold.  The mortgage in favor of TrustLand attaches to
all the real property and not just to a portion of the real
property.

Trustland Mortgage is represented by:

         Wheelis & Rozanski
         Stephen D. Wheelis, Esq.
         Richard A. Rozanski, Esq.
         P.O. Box 13199
         Alexandria, LA 71315-3199
         Tel: (318) 445-5600

                      The Reorganization Plan

As reported in the Sept. 21, 2015 edition of the TCR, the Plan
designates three classes of claims:

  -- The secured claim of Trustland Mortgage (Class 1), totaling
$3.44 million, will be paid in full out of the proceeds of the sale
of a portion of the collateral securing its claim.  The Debtor will
have one year from the effective date of the Plan to market and
sell all or a portion of the collateral securing the claim of
Trustland Mortgage in an amount sufficient to satisfy the claim.
This claim will continue to accrue postpetition interest at the
rate of 5.00% per annum (prime rate of 3.25% plus 1.75% premium)
until paid in full.  The Creditor will retain its lien on the
collateral until its secured claim has been paid in full.  The
class is impaired.

  -- All unsecured claims without priority (Class 2), totaling
$92,800, will be paid in full out of the proceeds of the sale of
real estate owned by the debtor.  The class is impaired.

  -- Equity holders (Class 3) will retain their equity/membership
interest in Five S Plus, LLC.   Title to property of the estate,
subject to existing liens which are valid in bankruptcy, will vest
in the Debtor in Possession upon confirmation of the Plan.

A copy of the Disclosure Statement dated Aug. 30, 2015, is
available for free at:

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

                         About Five S Plus

Five S Plus, LLC -- http://www.fivesplus.com/-- owns the River
Rouge   Plantation, a 5,000-acre property located on the banks of
the Red River, stretching from Boyce to Colfax, Louisiana.  Five S
was previously engaged in farming operations on the property but
ceased those operations in the spring of 2015.  It anticipates
resuming farming operations on the property at some point in the
future.

Five S Plus, doing business as River Rouge Plantation of Louisiana,
commenced a Chapter 11 bankruptcy case (Bankr. W.D. La. Case No.
15-80398) on April 10, 2015, in Alexandria, Louisiana.  The Debtor
was unable to make payments and the mortgagor initiated foreclosure
proceedings, which prompted the Chapter 11 filing.

Aaron L. Slayter, Jr., the managing member, signed the bankruptcy
petition.

L. Laramie Henry, Esq., serves as counsel to the Debtor.


FRANCIS MAX FRICK: Bankruptcy Auction Scheduled for Oct. 29
-----------------------------------------------------------
In re Francis Max Frick, Jr. and Jo Billy Frick   
Bankr. M.D. Fla. Case No. 15-00423
Chapter 11 Petition filed January 30, 2015

Tranzon will auction 47+/- houses in Ocala, Florida on October 29,
2015 at 10:55 a.m.

Features:

   -- All will sell regardless of price
   -- Close-out auction for bankrupt estate
   -- Many homes income producing
   -- Bid live or bid online

Tranzon Driggers Walter J. Driggers, III, Lic. Real Estate Broker,
FL Lic# AU707 & AB3145 10% Buyer's Premium, Case No.:
3:15-bk-00423-PMG

Property Location:

Various Addresses
Ocala, FL 34470

Auction Location:

Hilton Ocala
3600 SW 36th Ave.
Ocala, FL 34474

Contact:

Tranzon Driggers
Karen Tringali
Tel: 877-374-4437
Email: ktringali@tranzon.com

For more details, please visit http://www.tranzon.com/DG10292015



FREESEAS INC: Announces New Charter for Vessel
----------------------------------------------
FreeSeas Inc. announced that the Company-owned vessel M/V Free
Neptune, a 1996-built, 30,838 dwt Handysize vessel, has contracted
a voyage charter of approximately 20 days duration, yielding an
estimated equivalent T/C rate of approximately $10,000 per day.

                         About FreeSeas Inc.

Headquartered in Athens, Greece, FreeSeas Inc., formerly known as
Adventure Holdings S.A., was incorporated in the Marshall Islands
on April 23, 2004, for the purpose of being the ultimate holding
company of ship-owning companies.  The management of FreeSeas'
vessels is performed by Free Bulkers S.A., a Marshall Islands
company that is controlled by Ion G. Varouxakis, the Company's
Chairman, President and CEO, and one of the Company's principal
shareholders.

The Company's fleet consists of six Handysize vessels and one
Handymax vessel that carry a variety of drybulk commodities,
including iron ore, grain and coal, which are referred to as
"major bulks," as well as bauxite, phosphate, fertilizers, steel
products, cement, sugar and rice, or "minor bulks."  As of
Oct. 12, 2012, the aggregate dwt of the Company's operational
fleet is approximately 197,200 dwt and the average age of its
fleet is 15 years.

Freeseas reported a net loss of $12.7 million in 2014, a net loss
of $48.7 million in 2013 and a net loss of $30.9 million in 2012.

As of June 30, 2015, the Company had $41.4 million in total assets,
$32.2 million in total liabilities and $9.22 million in total
shareholders' equity.

RBSM LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2014, citing that the Company has incurred recurring operating
losses and has a working capital deficiency.  In addition, the
Company has failed to meet scheduled payment obligations under its
loan facilities and has not complied with certain covenants
included in its loan agreements.  Furthermore, the vast majority of
the Company's assets are considered to be highly illiquid and if
the Company were forced to liquidate, the amount realized by the
Company could be substantially lower that the carrying value of
these assets.  Also, the Company has disclosed alternative methods
of testing the carrying value of its vessels for purposes of
testing for impairment during the year ended December 31, 2014.
These conditions among others raise substantial doubt about the
Company's ability to continue as a going concern.


GEOMET INC: T. Rowe Price No Longer a Shareholder
-------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, T. Rowe Price Associates, Inc., disclosed that as of
Sept. 30, 2015, it no longer beneficially owns shares of common
stock of GeoMet, Inc.  T. Rowe Price held 5,363,575 common shares
of the Company as of Dec. 31, 2014.  A copy of the regulatory
filing is available for free at http://is.gd/sWbcSq

                          About Geomet Inc.

Houston, Texas-based GeoMet, Inc., is an independent energy
company primarily engaged in the exploration for and development
and production of natural gas from coal seams (coalbed methane)
and non-conventional shallow gas.  Its principal operations and
producing properties are located in the Cahaba and Black Warrior
Basins in Alabama and the central Appalachian Basin in Virginia
and West Virginia.  It also owns additional coalbed methane and
oil and gas development rights, principally in Alabama, Virginia,
West Virginia, and British Columbia.  As of March 31, 2012, it
owns a total of 192,000 net acres of coalbed methane and oil and
gas development rights.

As reported by the TCR on Feb. 20, 2015, GeoMet said it has no
operations and minimal assets, which raises substantial doubt about
its ability to return any additional value to its stockholders.
The Company added it may file a plan of dissolution if it cannot
consummate a corporate transaction/merger prior to the third
quarter of 2015.

As of June 30, 2015, the Company had $21.6 million in total assets,
$262,075 in total liabilities, $51.7 million in series A
convertible redeemable preferred stock, and a $30.3 million total
stockholders' deficit.


GLOBAL HOUGHTON: S&P Assigns 'B' CCR Then Withdraws Rating
----------------------------------------------------------
Standard & Poor's Ratings Service assigned its 'B' corporate credit
rating to Global Houghton Ltd.  The outlook is stable.  S&P also
affirmed and subsequently withdrew its corporate credit rating on
Houghton International Inc.

At the same time, S&P affirmed the 'B+' issue-level rating (one
notch above the corporate credit rating) with a recovery rating of
'2' on existing debt guaranteed by Global Houghton, including
first-lien senior secured credit facilities, consisting of a
$50 million revolving credit facility, $455 million first-lien term
loan, and EUR100 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
affirmed the 'B-' issue-level rating (one notch below the corporate
credit rating) with a '5' recovery rating on the $200 million
second-lien term loan.  The '5' recovery rating indicates S&P's
expectation for modest (lower half of the 10% to 30% range)
recovery in the event of a default.  The U.S. debt borrower is HII
Holding Corp., the European debt borrower is Houghton Europe B.V.,
and Global Houghton Ltd. guarantees the debt.

"The stable outlook reflects our expectation that improving global
conditions and end-market demand will continue to support
profitability, cash flow, and financial measures over the next
year," said Standard & Poor's credit analyst Brian Garcia.  "The
outlook also reflects our opinion that management will continue to
maintain a prudent approach to funding growth and shareholder
rewards," he added.

S&P expects the company to maintain adjusted debt to EBITDA under
6x on a weighted average sustainable basis.

S&P could lower the ratings if volumes decline meaningfully over
the next 12 months without offsetting cost reductions or
improvements to raw material margins.  In this scenario, revenue
would remain flat with EBITDA margins dropping by 200 basis points
from S&P's projected 2016 levels.  This could result in debt to
EBITDA of near 7x. A deterioration of liquidity or aggressive
financial policy decisions could lead to similar credit measures,
which could lead S&P to a downgrade.  S&P could also lower ratings
if the company is unable to sustain cushions over its covenants
that S&P would expect for a company at this rating.

S&P could raise the ratings if revenues were to grow by at least 5%
and EBITDA margins improved by at least 200 basis points from S&P's
projected 2016 levels.  This would drive debt to EBITDA down below
5x.  In order to consider a higher rating, S&P would also expect
ownership to provide more transparency in its strategic plans as
they relate to financial policy, specifically plans for debt
reduction, growth investment, and shareholder rewards.



GUADALUPE REGIONAL: S&P Assigns 'BB' Rating on $120MM 2015 Bonds
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB' long-term
rating to Joint Guadalupe County-City of Seguin Hospital Board of
Managers, Texas' $120 million series 2015 hospital mortgage revenue
refunding and improvement bonds.  The board does business as
Guadalupe Regional Medical Center (GRMC).  The outlook is stable.

"The 'BB' rating reflects our opinion of GRMC's high leverage and
low, but growing, unrestricted reserves; overall small
organizational size and service area population; high debt burden;
and declining operating margins with ongoing reliance on
supplemental funding," said Standard & Poor's credit analyst Karl
Propst.

S&P understands that the majority of the series 2015 bond proceeds
will be used to refund GRMC's series 2007 Federal Housing
Administration-insured hospital mortgage revenue debt outstanding.
The series 2007 funds were used for capital improvements that
addressed the region's growing population and shift toward
outpatient care.  As part of the refinancing, approximately $7
million will be released from a mortgage reserve fund and added to
the hospital's unrestricted reserves.

About $19 million of series 2015 proceeds will go toward additional
facility improvements that will restructure inpatient and
outpatient flows, expand the center's existing catheter lab,
develop a Level 2 neonatal intensive care unit, and significantly
increase the center's capacity for maternal services.



ISC8 INC: Deregisters Unsold Securities
---------------------------------------
ISC8 Inc. filed a post-effective amendment No. 1 to its
registration statement on Form S-3, originally filed on Dec. 24,
2009, registering a total of 2,529,450 shares of the Company's
common stock, par value $0.01 per share, issuable upon conversion
of the Company's Series B Convertible Preferred Stock by the
selling stockholders identified in the prospectus contained within
the Registration Statement.

On Sept. 24, 2014, the Company filed a voluntary petition in the
United States Bankruptcy Court for the Central District of
California for relief under the provisions of Chapter 11 of Title
11 of the United States Code.  On Sept. 14, 2015, the Court entered
an order confirming the Company's First Amended Plan of
Liquidation, dated Aug. 3, 2015, pursuant to which all shares or
other ownership interests in the Company, including the Company's
Common Stock, were immediately canceled and terminated, and the
Company was deemed to be dissolved for all purposes without any
further action or order of any kind.  Accordingly, all offerings of
the Company's securities, including those pursuant to the
Registration Statement, have also been terminated.

The Company separately filed post-effective Amendment No. 1 to each
of the following registration statements on Form S-8 to deregister
securities of the Company, if any, that remain unsold under the
Registration Statements:

* Registration Statement on Form S-8 (File No. 333-72201),
   originally filed on Feb. 11, 1999, registering 1,650,000 shares
   of the Company's common stock, par value $0.01 per share
   for issuance under the Irvine Sensors Corporation 1995 Stock
   Option Plan;

* Registration Statement on Form S-8 (File No. 333-94071),
   originally filed on Jan. 4, 2000, registering 1,000,000 shares
   of the Company's Common Stock for issuance under the Irvine
   Sensors Corporation 1999 Stock Option Plan;

* Registration Statement on Form S-8 (File No. 333-68846),
   originally filed on Aug. 31, 2001, registering an aggregate
   total of 6,500,000 shares of the Company's Common Stock for
   issuance under the Irvine Sensors Corporation 2001 Compensation
   Plan, the Irvine Sensors Corporation 2000 Non-Qualified Stock
   Option Plan, and the Irvine Sensors Corporation 2001 Stock
   Option Plan;

* Registration Statement on Form S-8 (File No. 333-73894),
   originally filed on Nov. 11, 2001, registering 500,000 shares
   of the Company's Common Stock for issuance under the Irvine
   Sensors Corporation 2001 Compensation Plan;

* Registration Statement on Form S-8 (File No. 333-76756),
   originally filed on Jan. 15, 2002, registering an additional
   500,000 shares of the Company's Common Stock for issuance
   under the Irvine Sensors Corporation 2001 Compensation Plan;

* Registration Statement on Form S-8 (File No. 333-102284),
   originally filed on Dec. 31, 2002, registering 1,426,438
   shares of the Company's Common Stock for issuance under the
   2001 Irvine Sensors Corporation 2000 Non-Qualified Stock
   Option Plan;

* Registration Statement on Form S-8 (File No. 333-105066),
   originally filed on May 7, 2003, registering 1,500,000 shares
   of the Company's Common Stock for issuance under the Irvine
   Sensors Corporation 2003 Stock Incentive Plan;

* Registration Statement on Form S-8 (File No. 333-115283),
   originally filed on May 7, 2004, registering an additional
   900,000 shares of the Company's Common Stock for issuance
   under the Irvine Sensors Corporation 2003 Stock Incentive
   Plan;

* Registration Statement on Form S-8 (File No. 333-124868),
   originally filed on May 12, 2005, registering an additional
   2,500,000 shares of the Company's Common Stock for issuance
   under the Irvine Sensors Corporation 2003 Stock Incentive
   Plan;

* Registration Statement on Form S-8 (File No. 333-140785),
   originally filed on Feb. 20, 2007, registering 2,900,000
   shares of the Company's Common Stock for issuance under the
   Irvine Sensors Corporation 2006 Omnibus Incentive Plan;

* Registration Statement on Form S-8 (File No. 333-148692),
   originally filed on Jan. 16, 2008, registering an additional
   1,000,000 shares of the Company's Common Stock for issuance
   under the Irvine Sensors Corporation 2006 Omnibus Incentive
   Plan;

* Registration Statement on Form S-8 (File No. 333-157388),
   originally filed on Feb. 18, 2009, registering an additional
   100,000 shares of the Company's Common Stock for issuance
   under the Irvine Sensors Corporation 2006 Omnibus Incentive
   Plan;

* Registration Statement on Form S-8 (File No. 333-159241),
   originally filed on Feb. 18, 2009, registering an additional
   500,000 shares of the Company's Common Stock for issuance
   under the Irvine Sensors Corporation 2006 Omnibus Incentive
   Plan;

* Registration Statement on Form S-8 (File No. 333-164010),
   originally filed on Dec. 24, 2009, registering 484,785 shares
   of the Company's Common Stock for issuance under the Irvine
   Sensors Corporation Amended and Restated 2006 Omnibus
   Incentive Plan;

* Registration Statement on Form S-8 (File No. 333-172308),
   originally filed on Feb. 16, 2011, registering an aggregate
   total of 19,750,000 shares of the Company's Common Stock for
   issuance under the Irvine Sensors Corporation Amended and
   Restated 2006 Omnibus Incentive Plan and the Irvine Sensors
   Corporation 2010 Non-Qualified Stock Option Plan;

* Registration Statement on Form S-8 (File No. 333-174328),
   originally filed on May 19, 2011, registering 46,500,000  
   shares of the Company's Common Stock for issuance under the
   Irvine Sensors Corporation 2011 Omnibus Incentive Plan;

* Registration Statement on Form S-8 (File No. 333-178795),
   originally filed on Dec. 29, 2011, registering an additional
   1,250,000 shares of the Company's Common Stock for issuance
   under the Irvine Sensors Corporation Amended and Restated 2006
   Omnibus Incentive Plan; and

* Registration Statement on Form S-8 (File No. 333-182235),
   originally filed on June 20, 2012, registering 29,392,830
   shares of the Company's Common Stock for issuance under the
   ISC8 Inc. 401(k) and Stock Bonus Plan.

The Company removes from registration any and all securities
registered but unsold under the Registration Statements.

                           About ISC8 Inc.

ISC8 Inc. filed a Chapter 11 bankruptcy petition (Bankr. C.D. Cal.
Case No. 14-15750) on Sept. 23, 2014.  The petition was signed by
Kirsten Bay, the president and CEO.  The case is assigned to Judge
Scott C. Clarkson.

The Company continues to operate its business and manage its
financial affairs as a debtor-in-possession, pursuant to Sections
1107(a) and 1108 of the United States Bankruptcy Code.

The Debtor estimated assets of $1 million to $10 million and
reported total liabilities of $14 million.  

Ezra Brutzkus Gubner LLP serves as the Debtor's counsel.  

The Bankruptcy Court entered an order on Sept. 14, 2015, confirming
the Amended Plan of Liquidation of ISC8, Inc.  The Amended Plan of
Liquidation went into effect immediately following the entry of the
Plan Confirmation Order.


JOE'S JEANS: Posts $5.6 Million Net Income for Third Quarter
------------------------------------------------------------
Joe's Jeans, Inc. filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing net income and
comprehensive income of $5.65 million on $18.86 million of net
sales for the three months ended Aug. 31, 2015, compared to net
income and comprehensive income of $276,000 on $25.72 million of
net sales for the same period in 2014.

For the nine months ended Aug. 31, 2015, the Company reported a net
loss and comprehensive loss of $19.28 million on $61.26 million of
net sales compared to net income and comprehensive income of
$437,000 on $68.95 million of net sales for the same period a year
ago.

As of Aug. 31, 2015, the Company had $171.52 million in total
assets, $148.97 million in total liabilities and $22.55 million in
total stockholders' equity.

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

                      http://is.gd/kxWsGL

                       About Joe's Jeans

Joe's Jeans Inc. -- http://www.joesjeans.com/-- designs, produces
and sells apparel and apparel-related products to the retail and
premium markets under the Joe's(R) brand and related trademarks.

In its audit report on the consolidated financial statements for
the year ended Nov. 30, 2014, Moss Adams LLP expressed substantial
doubt about the Company's ability to continue as a going concern,
citing that the Company has a net working capital deficiency due to
debt covenant violations and has suffered recurring losses from
operations.

The Company reported a net loss of $27.7 million on $189 million of
net sales for the fiscal year ended Nov. 30, 2014, compared with a
net loss of $7.31 million on $140 million of net sales in 2013.

The Troubled Company Reporter, on June 9, 2015, reported that Joe's
Jeans received a letter on May 29, 2015, from The Nasdaq Stock
Market indicating that the Company had received an additional 180
days, or until Nov. 23, 2015, to regain compliance with Nasdaq
Listing Rule 5550(a)(2) by maintaining a closing bid price per
share of its common stock at $1.00 per share or more for a minimum
of 10 consecutive trading days.


LEE STEEL: Seeks to Change Name Following Closing of Sale
---------------------------------------------------------
Lee Steel Corporation asks the Hon. Marci B. McIvor of the U.S.
Bankruptcy Court for the Eastern District of Michigan for
permission to change its name to LSC Liquidation Inc. as
contemplated by the previously approved sale transaction with Union
Partners I LLC.

The other debtor-affiliates also seek permission to change their
names.

Lee Steel says that effective Sept. 18, 2015, the sale to Union
Partners closed and the Debtors ceased operations and commenced the
process of winding down their affairs, turning their attention to
confirming a plan and completing the final administration of their
Chapter 11 cases.  Pursuant to the sale order, the Court authorized
the Debtors to sell substantially all of their assets located at
their Wyoming, Michigan facility, including intellectual property,
to Union Partners.

The Debtors believe the name change is necessary to enable them to
fully comply with the terms of the asset purchase agreement and the
sale order.

                        About Lee Steel

Novi, Michigan-based Lee Steel Corp., provides flat rolled steel,
including hot rolled steel, cold rolled steel, and exposed coated
products for automotive and other manufacturing industries.

Lee Steel and 2 affiliated companies -- Taylor Industrial
Properties, L.L.C., and 4L Ventures, LLC -- filed for separate
bankruptcy protection (Bankr. D. Del. Case No. 15-45784) on April
13, 2015.  

The Hon. Marci B. McIvor presides over the cases.  Joshua A.
Gadharf, Esq., at McDonald Hopkins PLC, represents the Debtor.
Huron Business Advisory, serves as financial advisor; and Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Lee Steel disclosed $63,206,282 in total assets and $62,659,806 in
total liabilities.

Hilco Global has purchased the steel processing facility located at
the Lee Steel Corporation site in Romulus, Michigan.  The deal
which was approved in U.S. Bankruptcy Court includes a 200,000
square foot plant and all of the steel processing equipment located
at that site.  The sale is expected to close in mid-September.

The U.S. Trustee for Region 9 appointed three creditors to serve on
the official committee of unsecured creditors.  Conway Mackenzie,
Inc. serves as its financial advisor.


MAIN STREET BUSINESS: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Main Street Business Management, Inc.
        PO Box 524
        Stratford, CT 06615

Case No.: 15-51439

Chapter 11 Petition Date: October 14, 2015

Court: United States Bankruptcy Court
       District of Connecticut (Bridgeport)

Judge: Hon. Alan H.W. Shiff

Debtor's Counsel: Douglas S. Skalka, Esq.
                  NEUBERT, PEPE, & MONTEITH, P.C.
                  195 Church Street, 13th Floor
                  New Haven, CT 06510
                  Tel: (203) 821-2000
                  Fax: 203-821-2009
                  Email: dskalka@npmlaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Gus Curcio, Sr., president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ctb15-51439.pdf


MARKHAM, IL.: S&P Lowers Rating on Gen. Obligation Debt to 'BB'
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its underlying rating
(SPUR) to 'BB' from 'BB+' on Markham, Ill.'s previously issued
general obligation (GO) debt.  The outlook is stable.

"The rating action is based on our view of the city's continued
structural imbalance and its impact on the city's budgetary
flexibility, liquidity, and management conditions," said Standard &
Poor's credit analyst Jennifer Boyd.

The stable outlook reflects S&P's anticipation that the city will
adequately manage its cash flow needs and high overall debt burden
despite the rating, which reflects S&P's view of the city's major
ongoing exposure to adverse business, financial, or economic
conditions that could lead to an inadequate capacity to meet
obligations.



MOLYCORP INC: Shareholder Said to Be Planning Bid on Assets
-----------------------------------------------------------
Jodi Xu Klein, writing for Bloomberg News, reported that Molycorp
Inc.'s biggest shareholder, Chile's Molibdenos y Metales SA, is
planning  to bid on some or all of the company's assets in
bankruptcy, according to three people with knowledge of the
matter.

According to the report, the prospective buyer, known as Molymet,
is interested in assets including Molycorp's largest U.S. mine --
the Mountain Pass facility -- in California, said the people.  To
avoid potential conflicts of interest, two Molycorp board members
with ties to Molymet have recused themselves from recent
restructuring discussions, the people said, the report related.

                    About Molycorp Inc.

Molycorp Inc. -- http://www.molycorp.com/-- is a global rare      

earths and rare metals producer.  Molycorp owns several prominent
rare earth processing facilities around the world.  It has a
workforce of 2,530 employees at locations on three continents.
Molycorp's Mountain Pass Rare Earth Facility in San Bernadino
County, California, is home to one of the world's largest and
richest deposits of rare earths.

Molycorp has corporate offices in the United States, Canada and
China.  CEO Geoffrey R. Bedford, and other senior management
members are located in Molycorp's corporate offices in Toronto,
Canada.  Other senior manageemnt members are located at its U.S.
corporate headquarters in Greendwood Village, Colorado.

Molycorp reported a net loss of $623 million in 2014, a net loss
of $377 million in 2013 and a net loss of $475 million in 2012.

As of March 31, 2015, the Company had $2.49 billion in total
assets, $1.78 billion in total liabilities and $709 million in
total stockholders' equity.

Molycorp and its North American subsidiaries, together with certain
of its non-operating subsidiaries outside of North America, filed
Chapter 11 voluntary petitions in Delaware (Bankr. D. Del. Lead
Case No. 15-11357) on June 25, 2015, after reaching agreement with
a group of lenders on a financial restructuring.  The Chapter 11
cases of Molycorp and 20 affiliated debts are pending before Judge
Christopher S. Sontchi.

The agreement provides for a financial restructuring of the
Company's $1.7 billion in debt and provides up to $225 million in
gross proceeds in new financing to support operations while the
Company completes negotiations with creditors.

The Company's operations outside of North America, with the
exception of non-operating companies in Luxembourg and Barbados,
are excluded from the filings.  Molycorp Rare Metals (Oklahoma),
LLC, with operations in Quapaw, Oklahoma, also is excluded from
the filings as it is not 100% owned by the Company.

Molycorp is being advised by the investment banking firm of Miller
Buckfire & Co. and is receiving financial advice from AlixPartners,
LLP.  Jones Day and Young, Conaway, Stargatt & Taylor LLP act as
legal counsel to the Company in this process.  Prime Clerk serves
as claims and noticing agent.

Secured creditor Oaktree Capital Management L.P., consented to the
use of cash collateral and to extend postpetition financing.

On July 8, 2015, the U.S. trustee overseeing the Chapter 11 case
of Molycorp Inc. appointed eight creditors of the company to serve
on the official committee of unsecured creditors.


MONAKER GROUP: Sells 100,000 Units to Board Member
--------------------------------------------------
Monaker Group, Inc., on Oct. 7, 2015, closed an offering of an
aggregate of 100,000 units to Donald P. Monaco, an accredited
investor and a member of the Company's Board of Directors, at a
price per unit of $2.50 with each Unit consisting of (i) one share
of the Company's common stock, par value $0.00001 per share, and
(ii) one warrant to acquire one share of Common Stock at an
exercise price of $1.50 per share, for aggregate cash proceeds of
$250,000.

The Warrants issued in the Offering expire on Sept. 30, 2016, may
be exercised on a cashless basis, and contain certain anti-dilution
protection provisions, including those that are triggered upon the
payment by the Company of a stock dividend, if the Company
subdivides or reclassifies its outstanding shares of Common Stock
into a greater number of shares, or if the Company combines or
reclassifies its outstanding shares of Common Stock into a smaller
number of shares.

The Company intends to use the net proceeds of the offering for
working capital and general corporate purposes, including without
limitation, to purchase assets to enhance the Company's strategy.
The Offering is part of a private placement offering in which the
Company offered for sale up to 300,000 Units for gross proceeds of
$750,000.  The Offering is currently scheduled to terminate on Oct.
30, 2015, but may be extended at the election of the Company.

                       About Monaker Group

Monaker Group, Inc., formerly known as Next 1 Interactive, Inc., is
a digital media marketing company focusing on lifestyle enrichment
for consumers in the travel, home and employment sectors.  Core to
its marketing services are key elements including proprietary
video-centered technology and established partnerships that enhance
its reach.  Video is quickly becoming consumer's preferred method
of searching and educating themselves prior to purchases.
Monaker's video creation technology and film libraries combine to
create lifestyle video offerings that can be shared both to its
customers and through trusted distribution systems of its major
partners.  The end result is better engagement with consumers who
gain in-depth information on related products and services helping
to both inform and fulfill purchases.  Unlike traditional marketing
companies that simply charge for advertising creation, Monaker
holds licenses and/or expertise in the travel, real estate and
employment sectors allowing it to capture fees at the point of
purchase while the majority of transactions are handled by
Monaker's partners.  This should allow the company to capture
greater revenues while eliminating much of the typical overhead
associated with fulfillment.  Monaker core holdings include
Maupintour, NameYourFee.com, RealBiz Media Group - helping it to
deliver marketing solutions to consumers at home, work and play.

Next 1 Interactive reported a net loss of $50,486 on $1.1 million
of total revenues for the year ended Feb. 28, 2015, compared to a
net loss of $18.3 million on $1.5 million of total revenues for the
year ended Feb. 28, 2014.

As of May 31, 2015, the Company had $7.4 million in total assets,
$10.2 million in total liabilities and a $2.8 million total
stockholders' deficit.

D'Arelli Pruzansky, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Feb. 28, 2015, citing that the Company has incurred
an operating loss of $5,437,235 and net cash used in operations of
$2,624,822 for the year ended Feb. 28, 2015, and the Company had an
accumulated deficit of $86,078,617 and a working capital deficit of
$12,811,302 at February 28, 2015.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


MONTREAL MAINE: Lawyer for Victims' Kin Vows to Sue Railroad
------------------------------------------------------------
The Associated Press reported that a lawyer for relatives of most
of the 47 people killed in an oil train derailment in Canada
described a Canadian railroad's refusal to contribute to a
settlement fund as "reprehensible" and vowed to pursue a lawsuit.

According to the report, Canadian Pacific contends it bears no
responsibility for the fiery disaster in Lac-Mégantic, Quebec, in
2013 and puts the blame squarely on the railroad whose runaway
train derailed.

                       About Montreal Maine

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

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

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

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

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

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

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

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

                           *     *     *

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


MUELLER WATER: Moody's Hikes Corporate Family Rating to 'Ba3'
-------------------------------------------------------------
Moody's Investors Service upgraded the ratings of Mueller Water
Products, Inc. ("Mueller") including its Corporate Family Rating to
Ba3 from B1, Probability of Default Rating to Ba3-PD from B1-PD,
and the $500 million Senior Secured Term Loan, due 2021, to Ba3
from B2. In addition, Moody's affirmed the Speculative-Grade
Liquidity (SGL) Rating at SGL-2. The rating outlook is stable.

The upgrade reflects Mueller's ability to grow its business,
particularly the Mueller Co. brand, while improving margins and
maintaining a prudent balance sheet. We expect the company's
performance to continue to be strong due to the ongoing steady
recovery in its end-market.

The following rating actions were taken:

Corporate Family Rating, upgraded to Ba3 from B1;

Probability of Default Rating, upgraded to Ba3-PD from B1-PD;

$496 million ($500 million original face value) Senior Secured
Term Loan due 2021, upgraded to Ba3 (LGD4) from B2 (LGD4);

Speculative-Grade Liquidity Rating, affirmed at SGL-2;

Outlook, remains stable.

RATINGS RATIONALE

The Ba3 Corporate Family Rating reflects Mueller's continued
financial performance improvements as the company has successfully
captured the ongoing momentum in its end-market. Moody's projects
Mueller's revenues will increase 4%-5% in its fiscal 2016, while
EBITA margins and adjusted debt to EBITDA will be around 14% and
below 3.0x, respectively. The financial performance is supported by
Mueller's strong market position, particularly in the repair and
replacement of municipal water distribution and treatment systems
market. This segment, accounting for about 50% of Mueller's total
revenues, is recurring in nature due to its large base of installed
products across most municipalities in the country. In addition,
the rating acknowledges Mueller's conservative balance sheet
management and financial policies.

The rating, however, also takes into account Mueller's relatively
small size and scale as well as limited product diversity. In
addition, the rating considers Mueller's exposure to the
cyclicality of its end-markets, particularly the new residential
construction and energy markets. While municipal spending has
improved in the recent years, many municipalities are still facing
budget pressures and inadequate funds to make investments.
Residential construction, which accounts for about 15% of the
company's total revenues, is improving, albeit unevenly, and it
tends to be volatile and cyclical. About 6% of the company's
revenues come from the energy business, which experienced a 40%
drop through the first three quarters of 2015, and we expect this
segment will continue to be a drag for the company.

The stable outlook reflects the expected improvement in credit
metrics and end-market.

The ratings could be upgraded if Mueller increases in size and
scale and continue to maintain conservative financial policies and
a prudent balance sheet. In addition, for the ratings to be
upgraded, the end-market economic conditions have to be favorable.

The ratings could be lowered if adjusted debt to EBITDA increases
above 4x on a sustained basis and EBITA to interest expense
declines below 2.5x. Furthermore, the ratings could be downgraded
if the company's liquidity position deteriorates or if end-market
conditions weaken.

The principal methodology used in these ratings was Global
Manufacturing Companies published in July 2014.

Headquartered in Atlanta, Georgia, Mueller is a North American
manufacturer and supplier of water infrastructure and flow control
products for use in water distribution networks, water and
wastewater treatment facilities, and gas distribution and piping
systems. Revenues and net income for the trailing 12 months ended
June 30, 2015 were $1.17 billion and $35 million, respectively.



NORTEL NETWORKS: $1.39MM in Clams Switched Hands From April-May
---------------------------------------------------------------
In the Chapter 11 cases of Nortel Networks Inc., et al., two claims
switched hands from April 24 to May 12, 2015:

     Transferee                 Transferor          Claim Amount
     ----------                 ----------          ------------
Corre Opportunities II       Corre Opportunities     $596,506.32   

Master Fund, LP              Qualified Master Fund,
                             LP

United States Debt Recovery  David C. Hannah         $796,026.52
XV, LP

                       About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates commenced
a proceeding with the Ontario Superior Court of Justice under the
Companies' Creditors Arrangement Act (Canada) seeking relief from
their creditors.  Ernst & Young was appointed to serve as monitor
and foreign representative of the Canadian Nortel Group.  That same
day, the Monitor sought recognition of the CCAA Proceedings in U.S.
Bankruptcy Court (Bankr. D. Del. Case No. 09-10164) under Chapter
15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of
NNI's European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy
Court for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., and Howard S.
Zelbo, Esq., at Cleary Gottlieb Steen & Hamilton, LLP, in New York,
serve as the U.S. Debtors' general bankruptcy counsel; Derek C.
Abbott, Esq., at Morris Nichols Arsht & Tunnell LLP, in Wilmington,
serves as Delaware counsel.  The Chapter 11 Debtors' other
professionals are Lazard Freres & Co. LLC as financial advisors;
and Epiq Bankruptcy Solutions LLC as claims and notice agent.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors in respect of the U.S. Debtors.

An ad hoc group of bondholders also was organized.  An Official
Committee of Retired Employees and the Official Committee of
Long-Term Disability Participants tapped Alvarez & Marsal
Healthcare Industry Group as financial advisor.  The Retiree
Committee is represented by McCarter & English LLP as Delaware
counsel, and Togut Segal & Segal serves as the Retiree Committee.
The Committee retained Alvarez & Marsal Healthcare Industry Group
as financial advisor, and Kurtzman Carson Consultants LLC as its
communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

The trial on how to divide proceeds among creditors in the U.S.,
Canada, and Europe commenced on Sept. 22, 2014.  The question of
how to divide $7.3 billion raised in the international bankruptcy
of Nortel Networks Corp. was answered on May 12, 2015, by two
judges, one in the U.S. and one in Canada.

According to The Wall Street Journal, Justice Frank Newbould of the
Ontario Superior Court of Justice in Toronto and Judge Kevin Gross
of the U.S. Bankruptcy Court in Wilmington, Del., agreed on the
outcome: a modified pro rata split of the money.


PILOT TRAVEL: S&P Retains 'BB+' Rating on $4.45BB Secured Debt
--------------------------------------------------------------
Standard & Poor's Ratings Services revised its recovery rating on
Pilot Travel Center LLC's $4.45 billion senior secured debt to '3'
from '4', which does not result in a change to the 'BB+'
issue-level rating.  The rating action reflects Pilot's plan to
repay $500 million of its existing $1.95 billion term loan B
concurrent with seeking a repricing of the debt facility.  Pilot
plans to use revolver borrowings and cash on hand to partially
repay the term loan B facility.  The '3' recovery rating on the
credit facility reflects S&P's expectation for meaningful recovery
of principal in the event of a default.  S&P's recovery
expectations are in the lower half of the 50% to 70% range.  The
repricing will save Pilot interest costs, but does not meaningfully
affect credit ratios or S&P's current assessment of the company’s
financial risk profile. All other ratings, including the 'BB+'
corporate credit rating and stable outlook, on the company remain
unchanged.

S&P's corporate credit rating on Pilot reflects S&P's view of the
company's broad geographic footprint in the highly fragmented
retail fuel and travel center industry, exposure to fuel cost
swings, below-average margins, and somewhat higher volatility of
profits than the retail industry given its exposure to fuel prices.
Because of the company's scale, it is able to operate at a lower
cost than most of its peers and offer competitive pricing on fuel.
S&P's rating also reflect its expectation that Pilot will continue
to generate good cash flow and that debt to EBITDA (adjusted for
operating leases) will remain in 3x area over the intermediate
term.

RATINGS LIST

                                     Rating          Rating
                                     To              From
Pilot Travel Centers LLC
Corporate credit rating
  Foreign and Local Currency         BB+/Stable/--   BB+/Stable/--
Senior Secured
  Local Currency                     BB+             BB+
  Recovery Rating                    3L              4H



PRECISION OPTICS: Incurs $1.17 Million Net Loss in Fiscal 2015
--------------------------------------------------------------
Precision Optics Corporation, Inc. filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $1.17 million on $3.91 million of revenues for the year
ended June 30, 2015, compared to a net loss of $1.16 million on
$3.65 million of revenues for the year ended June 30, 2014.

As of June 30, 2015, the Company had $2.04 million in total assets,
$1.37 million in total liabilities, all current, and $666,888 in
total stockholders' equity.

Stowe & Degon LLC, in Westborough, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended June 30, 2015, citing that the Company has suffered
recurring net losses and negative cash flows from operations, which
raises 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/3fRU3S

                       About Precision Optics

Headquartered in Gardner, Massachusetts, Precision Optics
Corporation, Inc., has been a developer and manufacturer of
advanced optical instruments since 1982.  The Company designs and
produces high-quality micro-optics, medical instruments and other
advanced optical systems.  The Company's medical instrumentation
line includes laparoscopes, arthroscopes and endocouplers and a
world-class product line of 3-D endoscopes for use in minimally
invasive surgical procedures.


QUEST SOLUTION: Names Gilles Gaudreault CEO, Tom Miller President
-----------------------------------------------------------------
Quest Solution, Inc., announced that in connection with the closing
of the merger between Quest Solution and Viascanqdata, a
nationwide, Canadian systems integrator of innovative software and
hardware products, solutions and services Gilles Gaudreault has
been named chief executive officer and a director of the company.
In addition, the company also announced that Tom Miller will
continue as his role as president.  Both Quest and Viascanqdata
have signed the agreements subject to certain closing conditions
expected to be finalized this week, and subsequently a Form 8-K
will be filed with the SEC.

Quest Solution has scheduled a conference call for its enhanced
senior leadership team to discuss this transformative combination.


Mr. Gaudreault joins Quest Solution from Viascanqdata where he
served as chief executive officer prior to the merger.  During his
tenure with Viascanqdata, Gilles completed the financial and
organizational restructuring of the corporations that were
consolidated to form the Viascan Group in 2012.  Under his
direction, multiple entities were streamlined into a unified
operation of data collection and management including software
design, hardware reselling and manufacturing of labels and ribbons
for various applications.

Tom Miller, president and chairman of the Board of Quest Solution,
Inc. commented, "This is a key step in our efforts to build an
organization and a leadership team to support consistent growth and
profitability.  Gilles has been instrumental in the merger of Quest
Solution and Viascanqdata and his strategic experience with
organizational structuring, consolidation and integration will be
instrumental in ensuring the smooth integration of our two
companies.  Gilles brings more than 35 years of financial and
strategic transaction experience from a variety of industries.  His
insights, visionary thinking and ability to execute will be
invaluable as we move forward as a combined company and further
accelerate our growth."

Miller continued, "By focusing 100% on the role of President I will
provide my full attention to the operational aspects of our
combined company, while Gilles applies his talent for strategic
positioning and financial structuring to the continued growth of
Quest Solution.  This executive structure combines our
complementary skill sets and is an excellent fit for the overall
management of our company.  Combining our strengths will be of
great benefit to our customers, suppliers, employees and our
shareholders as we take actions to grow the company both
organically and through future acquisitions."

Mr. Gaudreault added, "For over 20 years, Viascanqdata worked hard
to build this corporation into one of the leading enterprise mobile
computing integrators in Canada.  It is a privilege to serve as CEO
of Quest Solution as we move through the next phase of our
evolution.  By this combination of companies we are expanding the
scale of Quest Solution by nearly 25%, establishing a U.S. and
Canadian cross-border presence and significantly increasing
opportunities for cross-selling.  Customers are seeking an
integrator that can provide bar code labels and bar code printer
ribbons with service and data collection solutions with no border
between Canada and the U.S., and suppliers like Zebra and Honeywell
are looking for an integrator that can service their large accounts
in North America.  The combination of Quest and Viascanqdata is
uniquely positioned to meet this opportunity.  Our combined
strength will allow us to better serve customers across each of our
markets with a wide array of turn-key product and service
offerings.  As part of a listed Company, we will have better access
to capital and the ability to provide greater visibility to our
customers."

Merger with Viascanqdata

The Quest Solution and Viascanqdata merger is to be effective
October 1.  Terms of the transaction include the issuance of 5.2
million restricted common shares of Quest Solution to two parties,
Mr. Gaudreault and Mr. Kurdi, $1.5 million in promissory notes to
be paid out over 48 months, beginning in January 2016 and the
assumption of trade payables and other debts as well as acquisition
of all assets and inventory in the Company.

Concurrent with the closing of the merger, the company has signed
an agreement for a $15 million facility with Faunus Group
International, Inc. that is secured by the company's accounts
receivables and is subject to final closing conditions.  This is in
addition to the $4.8 million facility Viascanqdata already has with
FGI.  The additional availability under this new line is at terms
favorable to Quest Solution's existing line of credit.

Jason Griffith, executive vice president of Strategy and
Acquisitions for Quest Solution, stated, "I would like to thank all
of the employees and service providers that worked tirelessly on
facilitating the completion of this transaction.  We consider the
combination with Viascanqdata a key milestone on our path to
building a scalable business with strong returns on invested
capital.  We do not take the issuance of our shares lightly.  Our
decision to use the company's stock in this transaction highlights
our firm belief in the ultimate per share value that this merger
will create for our shareholders."

2015 Outlook

The company reiterated its full-year 2015 financial guidance.  The
guidance excludes any contribution from the merger with
Viascanqdata.

   * Revenue of $62-$68 million, representing top-line growth
     between 5-15%
       
   * Gross margin as a percentage of sales for the full year 2015
     to continue to show slight improvement as the company exits
     the year
       
   * Positive Adjusted EBITDA in the third and fourth quarter with

     improvement each quarter for the remainder of the year

                       About Quest Solution

Quest Solution (formerly known as Amerigo Energy, Inc.) is a
national mobility systems integrator with a focus on design,
delivery, deployment and support of fully integrated mobile
solutions.  The Company takes a consultative approach by offering
end to end solutions that include hardware, software,
communications and full lifecycle management services.  The highly
tenured team of professionals simplifies the integration process
and delivers proven problem solving solutions backed by numerous
customer references.  Motorola, Intermec, Honeywell, Panasonic,
AirWatch, Wavelink, SOTI and Zebra are major suppliers which Quest
Solution uses in its systems.

Quest Solution reported net income of $302,000 on $37.3 million of
total revenues for the year ended Dec. 31, 2014, compared with a
net loss of $1.12 million on $4,069 of total revenues for the year
ended Dec. 31, 2013.

As of June 30, 2015, the Company had $35.4 million in total assets,
$34.2 million in total liabilities and $1.2 million in total
stockholders' equity.


QUICKSILVER RESOURCES: Needs Until Feb. 1 to File Ch. 11 Plan
-------------------------------------------------------------
Quicksilver Resources Inc., et al., ask the U.S. Bankruptcy Court
for the District of Delaware to further extend the exclusive period
by which they must file a Chapter 11 plan through and including
Feb. 1, 2016, and the exclusive period by which they must solicit
acceptances of that plan through and including April 13, 2016.

According to Amanda R. Steele, Esq., at Richards, Layton & Finger,
P.A., in Wilmington, Delaware, the Sale Process, as proposed by the
Debtors and approved by the Court on October 6, 2015 will not be
complete until, at the earliest, December 2015 -- the deadline to
submit bids on the assets is November 30, the auction for the same
will be held on December 9, and the hearing to approve any sale is
scheduled for December 14.  The time required to consummate any
sale approved in connection with the Sale Process will extend well
into early 2016, Ms. Steele tells the Court.

Given the timing associated with the Sale Process, the continuing
potential for a consensual restructuring, and other complexities
and difficulties associated with the Chapter 11 cases, the Debtors

believe that extending the Exclusive Periods as requested is
reasonable, appropriate and in the best interest of these cases and
the Debtors' stakeholders, Ms. Steele relates.  Indeed, doing so
will allow the Debtors to pursue the Court-approved Sale Process to
its logical conclusion, develop an appropriate mechanism for
distributing sale proceeds, or, if appropriate, pivot to a value
maximizing alternative, including a consensual plan of
reorganization, Ms. Steele asserts.

Paul N. Heath, Esq., and Rachel L. Biblo, Esq., at Richards, Layton
& Finger, P.A., in Wilmington, Delaware; Charles R. Gibbs, Esq.,
Sarah Link Schultz, Esq., and Travis A. McRoberts, Esq., at Akin
Gump Strauss Hauer & Feld LLP, in Dallas, Texas; and Ashleigh L.
Blaylock, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
Washington, DC.

                        About Quicksilver

Quicksilver Resources Inc. (OTCQB: KWKA) is an exploration and
production company engaged in the development and production of
long-lived natural gas and oil properties onshore North America.
Based in Fort Worth, Texas, the company claims to be a leader in
the development and production from unconventional reservoirs
including shale gas, and coal bed methane.  Following more than 30
years of operating as a private company, Quicksilver became public
in 1999.

The Company has U.S. offices in Fort Worth, Texas; Glen Rose,
Texas; Steamboat Springs, Colorado; Craig, Colorado and Cut Bank,
Montana.  The Company's Canadian subsidiary, Quicksilver Resources
Canada Inc., is headquartered in Calgary, Alberta.

Quicksilver Resources Inc. and certain of its affiliates filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case No. 15-10585) on March 17, 2015.
Quicksilver's Canadian subsidiaries were not included in the
chapter 11 filing.

The Company's legal advisors are Akin Gump Strauss Hauer & Feld
LLP in the U.S. and Bennett Jones in Canada.  Richards Layton &
Finger, P.A., is legal co-counsel in the Chapter 11 cases.
Houlihan Lokey Capital, Inc. is serving as financial advisor.
Garden City Group Inc. is the claims and noticing agent.

The Company's balance sheet at Dec. 31, 2014, showed $1.21 billion
in total assets, $2.35 billion in total liabilities and total
stockholders' deficit of $1.14 billion.

The U.S. Trustee for Region 3 appointed five creditors of
Quicksilver Resources Inc. to serve on the official committee of
unsecured creditors.  The Committee is represented by Landis Rath
& Cobb LLP's Richard S. Cobb, Esq., Matthew B. McGuire, Esq., and
Joseph D. Wright, Esq.; and Paul Weiss Rifkind Wharton & Garrison
LLP's Andrew N. Rosenberg, Esq., Elizabeth R. McColm, Esq., and
Adam M. Denhoff, Esq.

                           *     *     *

The Debtors have been given exclusive right to file a bankruptcy
plan through Oct. 13, 2015.


QUIKSILVER INC: Files Ch. 11 Plan of Reorganization
---------------------------------------------------
Quiksilver, Inc., et al., filed with the U.S. Bankruptcy Court for
the District of Delaware a joint Chapter 11 plan of reorganization,
which impairs holders of secured note claims, unsecured note claims
and general unsecured claims.

Distributions under the Plan and the Reorganized Debtors'
operations post-Effective Date will be funded from: (a) an exit
facility, (b) rights offering, (c) plan sponsor and backstop
parties commitment, and (d) other plan funding.  On the Effective
Date of the Plan, the Reorganized Debtors will enter into an
asset-based revolving credit facility in the principal amount of up
to [$120.0] million.  Eligible Offerees will have the right to
exercise subscription rights for the purchase of up to $122.5
million of New Quiksilver Common Stock.

A full-text copy of the Plan dated Oct. 13, 2015, is available
at http://bankrupt.com/misc/QSIplan1013.pdf

The Plan was filed by Van C. Durrer, II, Esq., and Annie Z. Li,
Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, in Los Angeles,
California; Mark S. Chehi, Esq., at Skadden, Arps, Slate, Meagher &
Flom LLP, in Wilmington, Delaware; and John K. Lyons, Esq., and
Jessica S. Kumar, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, in Chicago, Illinois.

                         About Quiksilver

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

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

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

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

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

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


QUIKSILVER INC: U.S. Trustee Appoints Two More Committee Members
----------------------------------------------------------------
The U.S. trustee overseeing the Chapter 11 cases of Quiksilver Inc.
and its affiliates appointed T. Rowe Price Credit Opportunities
Fund and Wilfrid Global Opportunity Fund to serve on the official
committee of unsecured creditors.

The unsecured creditors' committee is now composed of:

     (1) U.S. Bank National Association
         as Indenture Trustee
         Attn: Justin Shearer
         Global Corporate Trust Services
         100 Wall Street, Suite 1600
         New York, NY 10005
         Phone: 212-951-8529
         Fax: 212-514-6841

     (2) New Generation Advisors, LLC
         Attn: Baily Dent
         13 Elm Street
         Manchester MA 01944
         Phone 978-704-6203
         Fax: 978-704-6210

     (3) Samil Tong Sang Co.
         Attn: Ian Im
         18-130 Gangdong-Dong, Busan
         13 618-800, South Korea
         Phone: 82-51-973-3351
         Fax: 82-51-973-6756

     (4) Simon Property Group, Inc.
         Attn: Ronald M. Tucker
         225 West Washington Street
         Indianapolis, IN 46204
         Phone: 317-263-2346
         Fax: 317-263-7901

     (5) Global Brands Group
         Attn: Martin Leder
         12 Princeton Dr,
         Tappan, NY 10903
         Phone: 845-365-3577

     (6) T. Rowe Price Credit Opportunities Fund
         c/o T. Rowe Price Associates, Inc.
         Attn: Andrew Baek  
         100 E. Pratt Street
         Baltimore, MD 21202
         Phone: 410-345-2091
         Fax: 410-345-6575

     (7) Wilfrid Global Opportunity Fund
         c/o Wilfrid Aubrey LLC
         Attn: Nicholas Walsh
         465 Lexington Avenue, Suite 10174
         Phone: 212-675-4906
         Fax: 212-675-3626

The other members of the committee were appointed on Sept. 22,
2015, court filings show.

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

                         About Quiksilver

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

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

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

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

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

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


R&G FOOD SERVICES: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: R&G Food Services, Inc.
          dba Latitude Catering
        6720 E Camino Principal, Suite 203
        Tucson, AZ 85715

Case No.: 15-13187

Chapter 11 Petition Date: October 14, 2015

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

Judge: Hon. Brenda Moody Whinery

Debtor's Counsel: John C. Smith, Esq.
                  SMITH & SMITH LAW OFFICES, PLLC
                  6720 E Camino Principal, Ste. 203
                  Tucson, AZ 85715
                  Tel: 520-722-1605
                  Fax: 520-722-9096
                  Email: john@smithandsmithpllc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by John C. Smith, attorney.

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


RADIOSHACK CORP: RS Legacy's Liquidating Plan Declared Effective
----------------------------------------------------------------
RadioShack Corp. announced in a filing with the U.S. Bankruptcy
Court in Delaware that its plan of liquidation became effective on
Oct. 7, 2015.

The plan, which distributes proceeds from the retailer's
liquidation to its creditors, was confirmed on October 2 by U.S.
Bankruptcy Judge Brendan Shannon.

The bankruptcy judge confirmed the plan after also giving approval
to a settlement involving RadioShack's unsecured creditors and
lenders that put to rest a fight threatening to derail the
liquidation strategy.

The liquidation plan received overwhelming support from creditors
who were entitled to vote.

In the same filing, RadioShack also announced that requests for
payment of administrative claims that arose during the period
June 1 to October 7, 2015, must be filed no later than 60 days
after the effective date of the plan.

Any holder of an administrative claim who comes forward after that
date will be "barred" from ever filing a claim against the
retailer.   

                 About RadioShack Corporation

Headquartered in Fort Worth, Texas, RadioShack is a retailer of
mobile technology products and services, as well as products
related to personal and home technology and power supply needs.
RadioShack's retail network includes more than 4,300
company-operated stores in the United States, 270 company-operated
stores in Mexico, and approximately 1,000 dealer and other outlets
worldwide.

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

David G. Heiman, Esq., Greg M. Gordon, Esq., Amanda M. Suzuki,
Esq., Jonathan M. Fisher, Esq., Thomas A. Howley, Esq., and Paul M.
Green, Esq., at Jones Day serve as the Debtors' bankruptcy counsel.
David M. Fournier, Esq., Evelyn J. Meltzer, Esq., and John H.
Schanne, II, Esq., at Pepper Hamilton LLP serve as co-counsel.
Carlin Adrianopoli at FTI Consulting, Inc. is the Debtors'
restructuring advisor.  Maeva Group, LLC, is the Debtors'
turnaround advisor. Lazard Freres & Co. LLC is the Debtors'
investment banker.  A&G Realty Partners is the Debtors' real estate
advisor.  Prime Clerk is the Debtors' claims and noticing agent.

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

                           *     *     *

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

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

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


REICHHOLD HOLDINGS: Asbestos Claimants Object to Plan Disclosures
-----------------------------------------------------------------
The Ad Hoc Committee of Asbestos Claimants filed a limited
objection to Reichhold Holdings US, Inc., et al.'s Disclosure
Statement, complaining that the Disclosure Statement fails to
provide adequate information with regards to insurance policies,
specifically insurance with respect to asbestos claims.

The Ad Hoc Committee tells the Court that the absence of the
Defense and Indemnity Agreement and the Products Insurance
Cooperation Agreement, and the lack of specifics about how the
insurance would be preserved have implications for Asbestos Claims.
While the Ad Hoc Committee is aware that the Debtors have been
taking steps to preserve the Debtors' insurance assets for Asbestos
Claims, the time has come for the Debtors to provide additional
detail about how thwy propose to achieve that end.

The Ad Hoc Committee of Asbestos Claimants consists of three
plaintiff law firms, Cooney & Conway, Gori Julian & Associates,
P.C., and Simmons Hanly Conroy LLC, each in their capacity as tort
counsel for clients of their firms who have asbestos-related
personal injury or wrongful death claims against the Debtors.

Under the Plan, Class 3 - General Unsecured Claims, which are
estimated to range from $384,972,000 to $459,972,000, are impaired
and will receive pro rata share of the liquidating interests.

An integral component of the purchase price for substantially all
of the Debtors' assets was ensuring that the Debtors had sufficient
funds to wind dow their estates.  Accordingly, the Stalking Horse
Purchaser agreed to fund the Seller's closing and wind down
expenses as follows: (X) an amount estimated in good faith by the
Debtors, but in no event in excess, in the aggregate, of $6,770,000
for (i) the wind down of the Debtors' bankruptcy estates, (ii)
amounts to pay taxes, (iii) fees payable to the U.S. Trustee, (vi)
accrued and unpaid professionals, consulting and investment banking
fees, (v) insurance premiums, and (vi) other postpetition and
unpaid operating expenses; and (Y) the amount which will in no
event exceed $1,636,000 to be spent for environmental-related
liabilities.

The Ad Hoc Committee is represented by:

         Mark T. Hurford, Esq.
         CAMPBELL & LEVINE, LLC
         222 Delaware Avenue, Suite 1620
         Wilmington, DE 19801
         Phone: (302) 426-1900
         Fax: (302) 426-9947
         Email: mhurford@camlev.com

            -- and --

         James P. Wehner, Esq.
         Jeffrey A. Liesemer, Esq.
         CAPLIN & DRYSDALE, CHARTERED  
         One Thomas Circle, N.W.
         Washington, DC 20005
         Tel: (202) 862-5000
         Fax: (202) 429-3301
         Email: jwehner@capdale.com
                jliesemer@capdale.com

                         About Reichhold

Founded in 1927, Reichhold, with its world headquarters and
technology center in Durham, North Carolina, is one of the world's
largest manufacturer of unsaturated polyester resins and a leading
supplier of coating resins for the industrial, transportation,
building and construction, marine, consumer and graphic arts
markets.  Reichhold -- http://www.Reichhold.com/-- has   
manufacturing operations throughout North America, Latin America,
the Middle East, Europe and Asia.

As of June 30, 2014, the Reichhold companies had consolidated
assets of $538 million and liabilities of $631 million.

Reichhold Holdings US, Inc., Reichhold, Inc., and two U.S.
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 14-12237) on Sept. 30, 2014.

Cole, Schotz, Meisel, Forman & Leonard, P.A. (legal advisor) and
CDG Group LLC (financial advisor) are representing Reichhold, Inc.
Latham & Watkins LLP (legal advisor) and Moelis & Company
(investment banker) are serving Reichhold Industries, Inc.  Logan &
Company is the company's claims and noticing agent.  The cases are
assigned to Judge Mary F. Walrath.

The U.S. Trustee for Region 3 appointed seven creditors of
Reichhold Holdings US, Inc. to serve on the official committee of
unsecured creditors.

On April 1, 2015, the U.S. Trustee named three non-union retirees
of Debtors to serve as the official Non-Union Retiree Committee.
Each of the Retiree Committee members is receiving retiree welfare
benefits from one or more of the Debtors.

On April 2, 2015, Reichhold disclosed that the purchase of most of
the assets of the U.S. business was completed.  This transaction,
approved by the Delaware Bankruptcy Court on January 12, 2015,
allows Reichhold's U.S. businesses to successfully emerge from
bankruptcy and re-join the rest of the global Reichhold
organization.  Concurrent with this purchase, Reichhold completed a
debt-for-equity exchange with a group of investors led by Black
Diamond Capital Management LLC and including J.P. Morgan Investment
Management, Inc., Third Avenue Management LLC, and Simplon Partners
LP.


REICHHOLD HOLDINGS: Disclosure Statement Hearing Moved to Nov. 17
-----------------------------------------------------------------
The hearing to consider approval of the disclosure statement
explaining Reichhold Holdings US, Inc., et al.'s Chapter 11 plan of
liquidation has been rescheduled to Nov. 17, 2015, at 11:30 a.m.
(Eastern).

The Plan gives less than 5% recovery to holders of general
unsecured claims.

Under the Plan, Class 3 - General Unsecured Claims, which are
estimated to range from $384,972,000 to $459,972,000, are impaired
and will receive pro rata share of the liquidating interests.

An integral component of the purchase price for substantially all
of the Debtors' assets was ensuring that the Debtors had sufficient
funds to wind down their estates.  Accordingly, the Stalking Horse
Purchaser agreed to fund the Seller's closing and wind down
expenses as follows: (X) an amount estimated in good faith by the
Debtors, but in no event in excess, in the aggregate, of $6,770,000
for (i) the wind down of the Debtors' bankruptcy estates, (ii)
amounts to pay taxes, (iii) fees payable to the U.S. Trustee, (vi)
accrued and unpaid professionals, consulting and investment banking
fees, (v) insurance premiums, and (vi) other postpetition and
unpaid operating expenses; and (Y) the amount which will in no
event exceed $1,636,000 to be spent for environmental-related
liabilities.

                         About Reichhold

Founded in 1927, Reichhold, with its world headquarters and
technology center in Durham, North Carolina, is one of the world's
largest manufacturer of unsaturated polyester resins and a leading
supplier of coating resins for the industrial, transportation,
building and construction, marine, consumer and graphic arts
markets.  Reichhold -- http://www.Reichhold.com/-- has   
manufacturing operations throughout North America, Latin America,
the Middle East, Europe and Asia.

As of June 30, 2014, the Reichhold companies had consolidated
assets of $538 million and liabilities of $631 million.

Reichhold Holdings US, Inc., Reichhold, Inc., and two U.S.
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 14-12237) on Sept. 30, 2014.

Cole, Schotz, Meisel, Forman & Leonard, P.A. (legal advisor) and
CDG Group LLC (financial advisor) are representing Reichhold, Inc.
Latham & Watkins LLP (legal advisor) and Moelis & Company
(investment banker) are serving Reichhold Industries, Inc.  Logan &
Company is the company's claims and noticing agent.  The cases are
assigned to Judge Mary F. Walrath.

The U.S. Trustee for Region 3 appointed seven creditors of
Reichhold Holdings US, Inc. to serve on the official committee of
unsecured creditors.

On April 1, 2015, the U.S. Trustee named three non-union retirees
of Debtors to serve as the official Non-Union Retiree Committee.
Each of the Retiree Committee members is receiving retiree welfare
benefits from one or more of the Debtors.

On April 2, 2015, Reichhold disclosed that the purchase of most of
the assets of the U.S. business was completed.  This transaction,
approved by the Delaware Bankruptcy Court on January 12, 2015,
allows Reichhold's U.S. businesses to successfully emerge from
bankruptcy and re-join the rest of the global Reichhold
organization.  Concurrent with this purchase, Reichhold completed a
debt-for-equity exchange with a group of investors led by Black
Diamond Capital Management LLC and including J.P. Morgan Investment
Management, Inc., Third Avenue Management LLC, and Simplon Partners
LP.


RELATIVITY FASHION: Blackstone Okayed as Investment Banker
----------------------------------------------------------
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
Blackstone Advisory Partners L.P. as investment banker to the
Debtors, nunc pro tunc to the July 30, 2015 petition date.

The Debtors require Blackstone Advisory to:

   (a) assist in the evaluation of the Company's businesses and
       prospects;

   (b) assist in the development of the Company's short and long-
       term business plans and related financial projections;

   (c) assist in the development of financial data and
       presentations to the Company's Board of Managers, various
       creditors and other third parties;

   (d) analyze the Company's financial liquidity and evaluate
       alternatives to improve such liquidity;

   (e) analyze various restructuring scenarios and the potential
       impact of these scenarios on the recoveries of those
       stakeholders impacted by the Restructuring;

   (f) provide strategic advice with regard to restructuring
       and/or refinancing the Company's Obligations;

   (g) evaluate the Company's debt capacity and alternative
       capital structures;

   (h) participate in negotiations among the Company and its
       creditors, suppliers, lessors, stakeholders and other
       interested parties as directed by the Company;

   (i) value securities offered by the Company in connection with
       a Restructuring;

   (j) advise the Company and negotiate with lenders as directed
       by the Company with respect to potential waivers or
       amendments of various credit facilities;

   (k) assist in identifying and contacting potential investors
       (equity and debt) and arranging financing for the Company;

   (l) provide expert witness testimony as requested by the
       Company concerning any of the subjects encompassed by the
       other investment banking services;

   (m) provide introductions of financing sources to the Company,
       subject in each case to Company's approval; and

   (n) provide such other advisory services as are customarily
       provided in connection with the analysis and negotiation of

       a Restructuring, as requested and mutually agreed.

Blackstone Advisory will be paid according to this fee structure:

  -- Monthly Fee. The Debtors shall pay the Advisor a monthly
     advisory fee in the amount of $200,000, per month, in cash,
     with the first Monthly Fee payable upon the execution of this

     Engagement Letter by both parties and additional installments

     of such Monthly Fee payable in advance on each monthly
     anniversary of the Effective Date, with the agreement that
     a minimum of two Monthly Fees shall be paid by the Company.

  -- Restructuring Fee. The Debtors shall pay an additional fee   
     equal to $5,000,000, earned and payable in accordance with
     this clause. Except as otherwise provided herein, a
     Restructuring shall be deemed to have been "consummated" as
     used herein upon (a) the consummation of all necessary
     waivers, consents, amendments or restructuring agreements
     between the Company and its creditors involving the
     compromise of the face amount of such Obligations or the
     conversion of all or a material part of such Obligations into

     alternative securities, including equity, in the case of an
     out-of-court restructuring; or (b) the execution,
     confirmation and consummation of a Plan of Reorganization
     pursuant to a final order of the Bankruptcy Court, in the
     case of an in-court restructuring; or (c) in the case of a
     Sale, upon an order of the Bankruptcy Court approving such
     Sale and the consummation thereof.

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

C.J. Brown, senior managing director and member of Blackstone
Advisory, 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.

Blackstone Advisory can be reached at:

       C.J. Brown
       BLACKSTONE ADVISORY PARTNERS L.P.
       345 Park Avenue
       New York, NY 10154
       Tel: (212) 583-5000
       Fax: (212) 583-5749

                     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: Court Approves Donlin Recano as Admin Agent
---------------------------------------------------------------
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
Donlin, Recano & Company, Inc. as administrative agent, nunc pro
tunc to the July 30, 2015 petition date.

The Debtors require Donlin Recano to:

   (a) gather data in conjunction with and assist in the
       preparation of the Debtors' schedules of assets and
       liabilities and statements of financial affairs;

   (b) assist with, among other things, solicitation, and the
       balloting, tabulation and calculation of votes, as well as
       preparing any appropriate reports, as required in
       furtherance of confirmation of plans of reorganization
       (the "Balloting Services");

   (c) generating an official ballot certification and testifying,

       if necessary, in support of the ballot tabulation results;

   (d) in connection with the Balloting Services, handle requests
       for documents from parties in interest, including, if
       applicable, brokerage firms and bank back-offices and
       institutional holders;

   (e) provide a confidential data room, if requested;

   (f) manage and coordinate any distributions pursuant to a
       confirmed plan of reorganization or otherwise; and

   (g) provide such other processing, solicitation, balloting and
       other administrative services described in the Services
       Agreement, but not included in the Section 156(c)
       Application, as may be requested from time to time by the
       Debtors, the Court or the Clerk.

Donlin Recano will be paid at these hourly rates:

       Senior Bankruptcy Consultant      $165
       Consultant                        $140
       Case Manager/Analyst              $110
       Technology/Programming Consultant $90
       Clerical                          $20-45

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

Prior to the filing of the chapter 11 cases, the Debtors paid
Donlin Recano a retainer of $30,000 in connection with its
retention under the Section 156(c) Application.

Colleen McCormick, chief operating officer of Donlin Recano,
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.

Donlin Recano can be reached at:

       Colleen McCormick
       DONLIN, RECANO & COMPANY, INC.
       6201 15th Avenue
       Brooklyn, NY 11219
       Tel: (212) 481-1411

                     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: Can Pay Bonuses to 81 Employees
-------------------------------------------------
Judge Michael E. Wiles of the U.S. Bankruptcy Court for the
Southern District of New York authorized Relativity Fashion, LLC,
et al., to implement the Key Employee Incentive Plan for 10
employees and the Employee Retention Plan for 71 participants.

The maximum potential cost of the KEIP is $1,235,122.  The KEIP has
two segments: (1) the Sale Metrics segment that has a total maximum
potential cost of $580,122, and (2) the TV Metrics segment that has
a total maximum potential cost of $655,000.  There are only two
employees in the TV Metrics portion of the KEIP: Tom Forman and
Andrew Marcus.  There are eight employees in Sale Metrics segment
of the KEIP: Tucker Tooley, Carol Genis, Camela Galano, Greg Shamo,
Andrew Matthews, Ramon Wilson, Kenneth Halsband, and Robert Bowen.

Because the KEIP will only commence funding if the bidding on the
Debtors' assets increases by at least $1 million over the Stalking
Horse Purchase Price in the case of the Sales Metrics and/or
certain performance targets are reached in the TV division with
respect to the TV Metrics, the ultimate funding requirements for
the KEIP could be lower if those targets are not reached.

The factors the Debtors will consider in making KEIP payments are
as follows: Those employees who were subject to pay reductions
prior to the Petition Date will have the opportunity to recapture
100% of those pay reductions, and all employees will have the
opportunity to receive an additional incentive of up to 22.6% of
their original base pay that would have been earned during the
during the period between the Petition Date and October 5,
2015, without taking into consideration any pay reduction, provided
that they remain employed by the Debtors during the Sale Process
through and including October 20, 2015 or the Sale Closing,
whichever is later.

The maximum cost of the ERP Program will be $345,390.  The ERP
participants that were subject to pay reductions prior to the
Petition Date will have the opportunity to recapture 100% of such
pay reductions, provided that they remain employed with the Debtors
during the Sale Process through and including October 20, 2015 or
the Sale Closing, whichever is later, plus an additional incentive
of up to 12.5% of their original base pay thatwould have been
earned during the period between the Petition Date and October 5,
2015, without taking into consideration any pay reduction.

The ad hoc group of lenders under the Financing Agreement, dated
May 30, 2012, by and among Relativity Media LLC and certain of its
subsidiaries, and the lenders and owners of the entity that is the
proposed stalking horse bidder with respect to a sale of
substantially all the Debtors' assets, support the Debtors'
supplemental KEIP.

All objections to the proposed bonuses, to the extent not resolved
or withdrawn, are overruled.

William K. Harrington, U.S. Trustee for Region 2, complained that
as to the Debtors' insiders, there is no evidence to suggest that
the strict standards of Section 503(c)(1) of the Bankruptcy Code
have been satisfied.  And as to the noninsiders, the Debtors have
failed to meet the more flexible facts-and-circumstances standard
under Section 503(c)(3), the U.S. Trustee further complained.  In
addition, the bonuses under both the Revised KEIP and Revised KERP
may be later adjusted by the CRO without Board approval, pursuant
to "procedures" which have not been articulated, the U.S. Trustee
said.  Finally, the Debtors have not provided enough information to
determine whether the Forman/Marcus KEIP is truly incentivizing,
the U.S. Trustee added.

The U.S. Trustee is represented by Serene K. Nakano, Esq., and
Susan D. Golden, Esq., Trial Attorneys, in New York.

The Ad Hoc Group is represented by Mark Shinderman, Esq., and Haig
M. Maghakian, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Los
Angeles, California; and Dennis C. O'Donnell, Esq., at Milbank,
Tweed, Hadley & McCloy LLP, in New York.

                    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: Macquarie Investments Seeks Adequate Protection
-----------------------------------------------------------------
Macquarie Investments US, Inc., asked the U.S. Bankruptcy Court for
the District of Delaware to direct Relativity Fashion LLC, et al.,
to provide adequate protection, or, in the alternative, lift the
automatic stay and compel the Debtors' compliance with the Final
DIP Order and Section 362(c)(2) of the Bankruptcy Code prohibiting
the use of cash collateral that constitutes P&A collateral.
Macquarie's motion was filed under seal.

Macquarie is represented by:

         J. Eric Wise, Esq.
         Shira D. Weiner, Esq.
         GIBSON, DUNN & CRUTCHER LLP
         200 Park Avenue
         New York, NY 10166
         Tel: (212) 351-4000
         Fax: (212) 351-4035
         Email: ewise@gibsondunn.com
                sweiner@gibsondunn.com

            -- and --

         Samuel A. Newman, Esq.
         Daniel B. Denny, Esq.
         GIBSON, DUNN & CRUTCHER LLP
         333 South Grand Avenue
         Los Angeles, CA 90071-3197
         Tel: (213) 229-7000
         Fax: (213) 229-7520
         Email: snewman@gibsondunn.com
                ddenny@gibsondunn.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.


RREAF O&G: Gets Final Approval to Use Cash Collateral Until Dec. 31
-------------------------------------------------------------------
The Hon. Ronald B. King of the U.S. Bankruptcy Court for the
Western District of Texas, Midland Division, issued a final order
allowing debtors RREAF O&G Portfolio #2 LLC, et al., to use cash
collateral through Dec. 31, 2015.

The final order indicated that the Debtors will not pay any
management fees to RREAF Holdings LLC or any other affiliate of the
Debtors; provided, however, the Debtors are authorized to pay
management fees to Channel Point pursuant to the respective
management agreements and the budget.  Further, the Debtors are
authorized to pay a $3,000 "Accounting Fee" to Channel Point for
each of the respective properties, which "Accounting Fee" will be
in lieu of and not in addition to the "Accounting Fee" currently
provided for in each of the respective management agreements.

As reported by the Troubled Company Reporter on Aug. 14, 2015,
Holiday Hospitality Franchising, LLC, Spectrum Origination LLC and
La Quinta Franchising, LLC filed objections to the Debtors' use of
cash collateral.

HHF and La Quinta both objected to the Debtors' motion on a limited
basis, to the extent that any interim or final order does not
permit and require debtor RREAF O&G Portfolio #2 LLC to pay all
post-petition franchise fees due under their respective License
Agreements in the ordinary course of business.

                         About RREAF O&G

RREAF O&G Portfolio #2 LLC, RREAF O&G Portfolio Manager #2 LLC,
RREAF O&G Portfolio #3 LLC, and RREAF O&G Portfolio #3 Manager
LLC, collectively, own eight hotel properties in Texas.

RREAF O&G Portfolio #2, et al., sought Chapter 11 bankruptcy
protection (Bankr. W.D. Tex. Lead Case No. 15-70094), in Midland,
Texas, on July 8, 2015.  Webb M. ("Kip") Sowden, III, the CEO,
signed the Chapter 11 petitions.

The cases are assigned to Chief Bankruptcy Judge Ronald B. King.
The Debtors tapped Holland & Knight LLP as counsel.

Portfolio #2 estimated $50 million to $100 million in assets and
less than $50 million in debt.


SAMSON RESOURCES: Equity Transfer Protocol Approved on Final Basis
------------------------------------------------------------------
The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court for
the District of Delaware approved, on a final basis, certain
notification and hearing procedures related to the transfer of
beneficial ownership of common stock and beneficial ownership of
cumulative redeemable preferred preferred stock of Samson Resources
Corporation and it's debtor-affiliates.

The Court ruled that any purchase, sale, other transfer of, or
declaration of worthlessness with respect to Common Stock or
Preferred Stock in violation of the procedures will be null and
void ab initio.

The procedures, among other things, require any person or entity
that currently is or becoming a 50% shareholder of the Debtors must
file with the Court, and serve the so-called notice parties, a
notice of that status using a Court-approved form.  The notice must
be submitted on or before the later of:

     -- 30 calendar days after the date of the notice of the
Interim Court order approving the procedures; and

     -- 10 calendar days after becoming a 50% shareholder.

A full-text copy of the Court order and the procedures is available
for free at http://is.gd/PAeR68

                      About Samson Resources

Samson Resources Corporation, et al., filed Chapter 11 bankruptcy
petitions (D. Del. Lead Case No. 15-11934) on Sept. 16, 2015.
Philip W. Cook signed the petition as executive vice president and
chief financial officer.  The Debtors estimated assets and
liabilities of more than $1 billion.

Samson is an onshore oil and gas exploration and production company
with interests in various oil and gas leases primarily located in
Colorado, Louisiana, North Dakota, Oklahoma, Texas, and Wyoming.
The Operating Companies operate, or have royalty or working
interests in, approximately 8,700 oil and gas production sites.

Samson was acquired by KKR and Crestview from Charles Schusterman
in December 2011 for approximately $7.2 billion.  The investor
group provided approximately $4.1 billion in equity investments as
part of the purchase price.

Kirkland & Ellis LLP represents the Debtors as general counsel.
Klehr Harrison Harvey Branzburg LLP is the Debtors' local counsel.
Alvarez & Marsal LLC acts as the Debtors' financial advisor.
Blackstone Advisory Partners L.P. serves as the Debtors' investment
banker.  Garden City Group, LLC serves as claims and noticing agent
to the Debtors.

Andrew Vara, acting U.S. trustee for Region 3, appointed three
creditors of Samson Resources Corp. and its affiliated debtors to
serve on the official committee of unsecured creditors.


SANUWAVE HEALTH: Releases DermaPACE Clinical Trial Results
----------------------------------------------------------
SANUWAVE Health, Inc., announced top line and preliminary data
analysis from the Company's pivotal Phase III, Investigational
Device Exemption supplemental clinical trial comparing the rates of
100% wound closure at 12 weeks between dermaPACE and Sham control
(non-active treatment), when both are combined with the current
standard of care for the treatment of diabetic foot ulcers (DFUs).
This study supplemented the Company's earlier 206 patient Phase III
trial of identical endpoints which demonstrated the exceptional
safety profile and clinical benefit of the dermaPACE device for the
treatment of diabetic foot ulcers; an area of significant unmet
medical need and represents a $2 billion market in the United
States alone.

The design of this randomized, double-blind, parallel-group,
Sham-controlled, multicenter, 26-week clinical trial was intended
to quantify the effectiveness of up to eight, non-invasive
procedures with dermaPACE, delivered over a 10-week period.  This
supplemental study ultimately enrolled and randomized 130 subjects
and was run under a Bayesian statistical plan, designed with FDA
input and utilizing the strength of the results from the first
clinical trial as an informative prior.

As previously reported, the Company announced the results of two
separate Data Monitoring Committee (DMC) analyses of the primary
objective.  In both cases, the DMC reported that the study did not
meet the Monitoring Success Criterion at Week 12 necessary to stop
enrollment in the trial.  In essence, there was insufficient
separation in the rates of closure between the dermaPACE and
Sham-control patients to demonstrate statistical significance.  On

June 6, 2015, the company met with FDA to discuss potential
analysis changes for the trial.  FDA was fully aware of the DMC
findings that we wouldn't meet the12 week endpoint.  FDA's response
at the meeting was for SANUWAVE to submit the data, and they would
judge dermaPACE on the totality of the clinical results when
reviewing the PMA.  The clinical data was frozen and the associated
database was locked in August, 2015.  Subsequently the top line
datasets were submitted to the Company's statisticians for
analysis.

The Company has been reviewing portions of the dataset analysis for
only a few days; as such the following is a small sample of the
final analysis set.

Study Results

Success for the pre-defined primary endpoint comparing the rates of
complete wound closure in patients at 12 weeks occurring between
the active, dermaPACE arm and the inactive Sham arm was not
achieved under the Bayesian statistical design.  However, a
secondary analysis was performed using the same endpoint, but
analyzed using the occurrence of complete wound closures at later
times in the study.  At 20 weeks, the dermaPACE arm demonstrated
superiority over the Sham arm with a posterior probability of
0.994.

The Bayesian study design utilized the data from the two studies to
determine the final results.  Putting this into context using a
Frequentist analysis, when looking at the two trials on a combined
basis:

   At 12 Weeks: 22.29% (37/166) of patients treated with dermaPACE
   achieved complete wound closure vs. 17.72% (28/158) of Sham
   control patients (p=0.356)

   At 20 Weeks: 36.74% (61/166) of patients treated with dermaPACE

   achieved complete wound closure vs. 24.05% (38/158) of Sham
   control patients (p=0.014).

Importantly, there were no serious and related adverse events
associated with dermaPACE treatment reported during the course of
the two studies, and there were no issues regarding the
tolerability of the treatment.

Rates of complete wound closure in the supplemental trial were
somewhat higher for both arms when compared to the first trial. The
wound closure rates for the Sham arm were higher than predicted and
led to the lack of statistical significance at 12 weeks and later.
An increase in dermaPACE closure rates as compared to Sham, up to
Week 20, helped to maintain the composite statistical significance
for the dermaPACE arm, which demonstrates the effectiveness of the
device.

The Company has just begun an in-depth analysis of the trial
results.  This is a small sample size of the anticipated, final
dataset analysis that will be included in our PMA submission,
expected to be sent to FDA in early Q1 2016.  The Company has begun
analyses of patient demographics and site to site performance to
identify possible influences on the final results. The Company will
be working closely with Musculoskeletal Clinical Regulatory
Advisers (MCRA) in developing a submission strategy and to serve as
the key element in communication with FDA during the pre and post
PMA submission process.

"We are very pleased to see the continued, positive device signal
delivered by dermaPACE in treating such a serious and dangerous
disease as DFUs," said Kevin Richardson II, chairman of the Board
and CEO of SANUWAVE.  Mr. Richardson continued, "We are confident
that the positive data generated by two rigorous Phase III studies
demonstrate clinical relevance with statistical significance in
wound closure performance at Week 20 and confirms the clinical
utility of dermaPACE to treat diabetic foot ulcers.  Analysis of
the complete data set will continue for some time.  A substantial
amount of data, in addition to the top-line data announced today,
will be included in our PMA submission, the final module of which
is expected to be filed in early 2016.  We expect to face a
challenging approval process and with that in mind, we are
fortunate to have MCRA on board leading the submission process.
Their well established track record in gaining product approval can
only be a positive in our journey towards eventual approval of
dermaPACE for the treatment of diabetic foot ulcers.  The strong
safety profile coupled with significant wound closure rates at 20
weeks, and an equally strong signal of wound reduction provides a
compelling benefit/risk argument for bringing this low cost
modality to market in the treatment of diabetic foot ulcers."

"Finally," said Mr. Richardson, "SANUWAVE would like to thank our
principal investigators and their teams for their disciplined
approach to this study and for their consistent and enthusiastic
support of our technology to treat their patients who suffer from
diabetic foot ulcers."

Phase III Study Design

The dermaPACE pivotal Phase III trial was a prospective,
randomized, double-blinded, Sham controlled, multi-center, 26-week,
parallel-group study.  The goal of the study was to establish
superiority in diabetic foot ulcer healing rates using the
dermaPACE treatment compared with Sham control, when both are
combined with the current standard of care.  The standard of care
includes wet-to-dry dressings and, for some patients, offloading
with a walking boot.

The study's primary endpoint of wound closure is defined as full
skin re-epithelialization without drainage or dressing requirements
confirmed at two consecutive visits.  Secondary trial endpoints
include time to closure, reduction in total wound surface area and
volume, rate of improvement, long term safety, skin appearance and
pain assessments.

A total of 206 patients were enrolled in the trial, which was
conducted at 22 sites in the U.S. and one site in Canada.  The
principal investigators in the study represent the
multidisciplinary nature of treating chronic wounds, including
specialties such as vascular surgery, plastic surgery, podiatry and
general surgery.

Medical Need

Diabetes is common, disabling and deadly.  In the United States,
diabetes has reached epidemic proportions.  According to the
American Diabetes Association, the annual cost of diabetes, which
affects 22.3 million people in the United States, was $245 billion
in 2012.  This figure comprises $176 billion in excess healthcare
expenditures and $69 billion in reduced workforce productivity.

Diabetic foot ulcers are estimated to occur in up to 25% of
patients with diabetes resulting in 3 million diabetic foot ulcers
annually in the U.S. alone.  More than half of all foot ulcers will
become infected, thus requiring hospitalization, and 1 in 5 will
require an amputation that carries a high risk of mortality.

Clinical care and related costs and annual incremental healthcare
costs ranged from $11,710 to $16,883 per patient with a foot ulcer
in addition to the costs associated with diabetes itself. Direct
and indirect costs of an amputation range from $20,000 to $60,000
per patient.  Advanced, cost-effective treatment modalities for
diabetes and its co-morbidities, including diabetic foot ulcers,
are in great need, yet in short supply, globally. According to the
American Diabetes Association, by the year 2025 the prevalence of
diabetes is expected to rise by 72% to 324 million people
worldwide.

Financial Update

The Company has been focused on the DFU study and cost controls. As
such, the Company is now guiding cash burn to $250 - $300K per
month before FDA submission costs.  The Company said it is also
excited to report that 2 weeks into October the Company will ship
as many machines as in all Q4'14 and we expect to exceed this
amount by year end.  Lastly, the Company completed the sale of
$100K of OssaTron inventory to Premier Shockwave in Q3'15 to assist
us financially.

As previously stated, the Company is currently evaluating options
to strengthen the balance sheet.  In addition, SANUWAVE is in
active discussions with multiple companies regarding various
strategic options; including but not limited to strategic
investment, licensing, and royalty agreements for the dermaPACE,
partnerships and/or sale of the dermaPACE or the entire company.
Although these discussions have been ongoing for some time, the
unblinding of the Supplemental trial data was necessary to advance
preliminary talks into more formal discussions.

                      About SANUWAVE Health

Alpharetta, Ga.-based SANUWAVE Health, Inc., is an emerging global
regenerative medicine company focused on the development and
commercialization of noninvasive, biological response activating
devices for the repair and regeneration of tissue, musculoskeletal
and vascular structures.

SANUWAVE Health reported a net loss of $5.97 million on $847,000 of
revenues for the year ended Dec. 31, 2014, compared with a net loss
of $11.3 million on $800,000 of revenues in 2013.

As of June 30, 2015, the Company had $2.55 million in total assets,
$6.75 million in total liabilities and total stockholders' deficit
of $4.19 million.

                       Bankruptcy Warning

"The continuation of the Company's business is dependent upon
raising additional capital during the third or early fourth quarter
of 2015 to fund operations.  Management's plans are to obtain
additional capital through investments by strategic partners for
market opportunities, which may include strategic partnerships or
licensing arrangements, or raise capital through the issuance of
common or preferred stock, securities convertible into common
stock, or secured or unsecured debt.  These possibilities, to the
extent available, may be on terms that result in significant
dilution to the Company's existing shareholders.  Although no
assurances can be given, management of the Company believes that
potential additional issuances of equity or other potential
financing transactions as discussed above should provide the
necessary funding for the Company to continue as a going concern.
If these efforts are unsuccessful, the Company may be forced to
seek relief through a filing under the U.S. Bankruptcy Code," the
Company said in its quarterly report for the period ended June 30,
2015.


SG BLOCKS: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

       Debtor                                     Case No.
       ------                                     --------
       SG Blocks, Inc.                            15-12790
       115 W. 18th Street, Third Floor
       New York, NY 10011

       SG Building Blocks, Inc.                   15-12791
       115 W. 18th Street, Third Floor
       New York, NY 10011
        
       Endaxi Infrastructure Group, Inc.          15-12792
       115 W. 18th Street, Third Floor
       New York, NY 10011

Nature of Business: The Debtors' primary business is to work with
                    architects, developers, builders, and
                    commercial clients to design and build
                    code-engineered, modified cargo shipping  
                    containers for use in building construction.

Chapter 11 Petition Date: October 15, 2015

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

Judge: Hon. James L. Garrity Jr.

Debtors' Counsel: Gerard R. Luckman, Esq.
                  SILVERMANACAMPORA, LLP
                  100 Jericho Quadrangle, Suite 300
                  Jericho, NY 11753
                  Tel: (516) 479-6300
                  Fax: (516) 479-6301
                  Email: filings@spallp.com

                                          Total         Total
                                         Assets      Liabilities
                                       -----------   -----------
SG Blocks, Inc.                          $322,209      $4.52MM
SG Building Blocks                      $0-$50,000    $0-$50,000
Endaxi Infrastructure Group             $0-$50,000    $0-$50,000

The petitions were signed by Paul Galvin, chief executive officer.

The Debtors did not include a list of their largest unsecured
creditors when they filed the petitions.


SHERRITT INTERNATIONAL: DBRS Lowers Issuer Rating to B
------------------------------------------------------
DBRS Limited downgraded the Issuer Rating and Senior Unsecured Debt
ratings of Sherritt International Corporation to B from BB (low),
and has changed the trends to Stable from Negative. Low nickel and
oil prices and the disposition of Sherritt's Coal unit in 2014 have
contributed to a significant decrease in operating cash flow since
2010 at a time when the Ambatovy mine remains in need of cash
injection to fully meet design targets if the Company wishes to
maintain its 40% interest in the project, resulting in a strain on
Sherritt's liquidity. The recovery rating for Sherritt's Senior
Unsecured Debt under a hypothetical default scenario remains at
RR4.

Sherritt's business profile weakened in 2014 with the sale of its
Coal unit. Although the Ambatovy mine project has the potential to
restore or exceed some of that lost earnings power, the mine has
not yet been able to achieve near-design capacity output on a
consistent basis. In a period of low nickel prices and with
Ambatovy's ongoing need to make senior project debt repayments, the
mine continues to absorb Sherritt cash resources to support
Ambatovy's operating, capital expenditure and financing needs. Even
when Ambatovy design parameters are achieved on a sustained basis,
the mine's cash flow will be more volatile than the Coal unit's and
it operates in a jurisdiction with significant political risk. The
strength of Sherritt's Oil and Gas unit has also diminished despite
the extension of certain production-sharing contracts (PSCs) and
the addition of new development areas. Production accruing to
Sherritt from these will only be from new discoveries once original
PSCs end in 2017 and 2018, making it hard to replicate existing
output without significant drilling successes.

The sharp decline in nickel, cobalt and oil prices since
2010–2012, combined with the sale of Sherritt's Coal unit in
April 2014, have driven the Company's EBITDA to only $110 million
(annualized) in the first half of 2015 (H1 2015) from $632 million
in 2011. The achievement of commercial production of the Ambatovy
mine in January 2014 has added about $200 million per year in
equity losses (partly offset by just under $10 million equity
income from the Moa joint venture), driving net income before
non-recurring items negative.

Sherritt’s financial profile underwent a significant change in
2014 with the sale of its Coal unit, the reduction and extension of
its long-term debt obligations and the drive to achieve Ambatovy
financial completion all in the face of sharply lower commodity
prices. Although the Company has modest debt maturities before
2018, Ambatovy remains a net cash user; net free cash flow is in
deficit and liquidity is currently adequate, but constrained and
depleting.

Sherritt's traditional financial metrics have been very weak for
its ratings in part because the bulk of operating earnings (and now
losses) from its Metals unit are booked as equity earnings, not
impacting EBITDA and other financial measures. With the recent
sharp drop in oil prices, operating earnings from the Oil and Gas
unit have been sharply eroded as well. Although Sherritt was able
to significantly reduce its non-Ambatovy-related debt in 2014 with
proceeds from the sale of the Coal unit and was able to extend its
Senior Unsecured Debt note maturities to later in the year, net
free cash flow was $73 million in deficit in H1 2015, resulting in
a reduction of cash balances, the Company's main source of
short-term liquidity, by $78 million. With low net cash generation
from its Oil and Gas, Power and Moa joint venture expected, modest
existing short-term credit capacity and the need to fund Ambatovy,
Sherritt's cash balances are expected to diminish unless
circumstances change.

The RR4 recovery rating for Sherritt's Senior Unsecured Debt
corresponds to an estimated 30% to 60% recovery of principal
amounts of its Senior Unsecured Debt, based on the results of
examining a hypothetical default scenario for the Company. The RR4
rating, in turn, results in no change (notching) to the rating of
Sherritt's Senior Unsecured Debt.

DBRS expects Sherritt's losses before non-recurring items will
continue in H2 2015 and throughout 2016 as the Company faces the
challenges of low nickel, cobalt and oil prices. The Company will
also face challenges replacing lost oil production from expiring
leases 2017 and 2018. Over the longer term, commodity prices are
expected to improve, and, if Ambatovy operates close to design
expectations, Sherritt will become a solid player in the nickel and
cobalt world. Lower earnings in H2 2015 and into 2016 are expected
to reduce near-term operating cash flow. Combined with an ongoing
need to fund Ambatovy deficits (including senior debt principal
payments) and Ambatovy's debt reserve account (about $60 million in
Q3 2015), plus with elevated Oil and Gas drilling, Sherritt's
credit metrics are expected to be challenged and its current
cash/available credit resources reduced.

Bringing Ambatovy to cash self-sufficiency is expected to stabilize
cash use and/or external funding needs, but stronger nickel, cobalt
and oil prices will be required to begin the restoration of credit
strength. Sherritt's liquidity is constrained and mainly provided
by $398 million of cash and investments on hand at June 30, 2015,
as well as by about $69 million in unutilized credit capacity
subject to annual renewal.

Oil, nickel and cobalt prices are not expected by DBRS to
materially fall further over the next 18 months, nor are they
expected to rebound sharply either. A fully ramped-up Ambatovy mine
with improved product pricing can be expected to be a solid net
cash generator (most of which will initially be dedicated to debt
repayment) for many years to come. In the interim, Sherritt will
have mange its cash resources carefully in order to maintain its
existing ratings.



THERAPEUTICSMD INC: Completes Enrollment in Phase 3 Clinical Trial
------------------------------------------------------------------
TherapeuticsMD, Inc., announced that it has completed patient
enrollment in the Replenish Trial, a phase 3 clinical trial
evaluating multiple doses of the investigational once-daily oral
softgel capsule, TX-001HR (estradiol and progesterone), to reduce
the frequency and severity of moderate to severe vasomotor
symptoms, including hot flashes and night sweats, in postmenopausal
women.

TherapeuticsMD believes TX-001HR, if approved by the FDA, would
represent the first time estradiol and progesterone (bio-identical
to the estradiol and progesterone produced by a woman's ovaries),
would be approved for use in a single, combined product.  Patented
TX-001HR was developed with SYMBODA, an advanced technology for
solubilizing the bio-identical hormones 17β-estradiol and
progesterone.

"There are currently no FDA-approved oral bio-identical estradiol
and progesterone combination products for women experiencing hot
flashes and night sweats.  Approximately 1 million to 2.5 million
women are currently estimated to use non FDA-approved compounded
menopausal hormone therapy in the U.S. TherapeuticsMD seeks to
address the unmet needs of post-menopausal women as we develop
potentially the first FDA-approved 17β-estradiol plus progesterone
combination softgel capsule in the United States," stated Robert G.
Finizio, chief executive officer of TherapeuticsMD.  "Completion of
patient recruitment in the Replenish Trial marks an important
milestone in our development efforts and illustrates continued
progress towards our goal of bringing novel hormone therapy options
to women."

Trial Design

A pivotal safety and efficacy study, the Replenish Trial is a
prospective, randomized, double-blind, placebo-controlled,
parallel-group, multicenter study evaluating four doses of
TX-001HR: combined estradiol 1 mg/progesterone 100 mg; combined
estradiol 0.5 mg/progesterone 100 mg; combined estradiol 0.5
mg/progesterone 50 mg; and combined estradiol 0.25 mg/progesterone
50 mg.  If approved, each of these combinations of estradiol and
progesterone doses would represent a lower daily dose of estradiol
and/or progesterone than those in currently approved products.  The
12-month trial enrolled more than 1,750 healthy postmenopausal
women (age 40 to 65 years old) in approximately 110 sites across
the United States.  The primary efficacy objective is to determine
whether TX-001HR given daily is effective at reducing the frequency
and severity of moderate to severe vasomotor symptoms associated
with menopause when compared to placebo treatment at weeks 4 and
12.  The Replenish Trial will also evaluate whether ongoing
treatment with TX-001HR given daily is effective at achieving a
≤1% incidence rate of endometrial hyperplasia following 12 months
of therapy (primary safety objective).

                       About TherapeuticsMD

Boca Raton, Florida-based TherapeuticsMD, Inc. (OTC QB: TXMD) is a
women's healthcare product company focused on creating and
commercializing products targeted exclusively for women.  The
Company currently manufactures and distributes branded and generic
prescription prenatal vitamins as well as over-the-counter
vitamins and cosmetics.  The Company is currently focused on
conducting the clinical trials necessary for regulatory approval
and commercialization of advanced hormone therapy pharmaceutical
products designed to alleviate the symptoms of and reduce the
health risks resulting from menopause-related hormone
deficiencies.

TherapeuticsMD reported a net loss of $54.2 million on $15.02
million of net revenues for the year ended Dec. 31, 2014, compared
with a net loss of $28.4 million on $8.77 million of net revenues
for the year ended Dec. 31, 2013.

As of June 30, 2015, the Company had $75.6 million in total assets,
$12.6 million in total liabilities and $63 million in total
stockholders' equity.


TRAVIS Z KIRKLAND: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Travis Z Kirkland, DDS PLLC
           dba Any Day Dental
        1522 Prospect Lane
        Alpine, UT 84004

Case No.: 15-44780

Nature of Business: Health Care

Chapter 11 Petition Date: October 14, 2015

Court: United States Bankruptcy Court
       Western District of Washington (Tacoma)

Judge: Hon. Paul B. Snyder

Debtor's Counsel: S Lamont Bossard, Jr., Esq.
                  IWAMA LAW FIRM
                  333 5th Ave S
                  Kent, WA 98032
                  Tel: 253-520-7671
                  Email: monty@iwamalaw.com

                    - and -

                  Mark C McClure, Esq.
                  LAW OFFICE OF MARK MCCLURE PS
                  1103 W Meeker St Ste 101
                  Kent, WA 98032
                  Tel: 253-631-6484
                  Email: mark@northwestbk.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Travis Z. Kirkland, D.D.S., managing
member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/wawb15-44780.pdf


UNICOI WATER: S&P Alters Outlook on BB 2010 Debt Rating to Positive
-------------------------------------------------------------------
Standard & Poor's Ratings Services revised the outlook on its 'BB'
underlying rating (SPUR) on Unicoi Water Utility District, Tenn.'s
series 2010 waterworks revenue refunding and improvement debt to
positive from negative.

At the same time, the rating service affirmed its 'BB' SPUR on the
debt.

The outlook revision to positive reflects Standard & Poor's opinion
of the district's improved financial performance in fiscal 2014,
evidenced by its better-than-expected debt service coverage at an
adequate 1.2x and fully cash funding the debt service reserve in
December 2014.  In addition, following the 28% water rate increase,
effective May 1, 2014, officials are projecting fiscal 2015 debt
service coverage will be a strong 2.2x.

"If the district were to establish a record of maintaining adequate
annual debt service coverage, we could raise the rating over the
outlook's one-year period," said Standard & Poor's credit analyst
Scott Sagen.  "If liquidity were to weaken to, what we consider,
inadequate levels or if additional debt were to result in, what we
view as, inadequate coverage, reflecting continued financial
stress, we could revise the outlook to stable at the current rating
level."

The district's net water system revenue pledge secures the series
2010 bonds.  The series 2010 bonds are on parity with the series
2014 bonds, but they are subordinate to the series 1988 bonds.
Standard & Poor's does not rate the series 2014 and 1988 bonds. The
district has closed its senior-lien pledge, and it will issue any
additional debt on parity with the series 2010 bonds.  Because the
senior-lien pledge is closed and just $41,000 in senior-lien debt
remains outstanding, Standard & Poor's does not believe
subordinate-lien bondholders are materially disadvantaged.
Therefore, the rating service rates the series 2010 bonds on par
with the senior-lien debt.



VAULT MINERALS: Case Summary & 12 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Vault Minerals, LLC
        3308 Oak Grove Avenue
        Dallas, TX 75204

Case No.: 15-34171

Chapter 11 Petition Date: October 14, 2015

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

Judge: Hon. Harlin DeWayne Hale

Debtor's Counsel: Frances Anne Smith, Esq.
                  SHACKELFORD, MELTON, MCKINLEY & NORTON L.L.P.
                  3333 Lee Parkway, Tenth Floor
                  Dallas, TX 75219
                  Tel: 214-780-1400
                  Fax: 214-780-1401
                  Email: fsmith@shacklaw.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Edwin J. Martin, manager.

A list of the Debtor's 12 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txnb15-34171.pdf


VIPER VENTURES: 6-Day Trial on Contested Plan to End Oct. 28
------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida has
scheduled a final evidentiary hearing on the confirmation of Viper
Ventures, LLC's proposed Chapter 11 plan of reorganization on Oct.
28, 2015, at 9:30 a.m.  Judge Catherine Peek McEwen added a sixth
day of trial on Viper Ventures' contested plan.

In a document signed June 5, 2015, Judge McEwen ordered that a
final evidentiary hearing on confirmation of the Plan, including
timely filed objections to confirmation, objections to the
disclosure statement, and motions for cram-down, will be held on
Oct. 13, 14, 16, 19, and 20, 2015 at 9:30 a.m.  

The confirmation hearing was originally scheduled for June and July
2015 but Wells Fargo Bank, N.A., and other creditors sought a delay
of the hearing to October.  The parties also agreed that the
lender's motion to dismiss will be heard contemporaneously with the
final evidentiary hearing on the confirmation of the Debtor's
plan.

Judge McEwen on June 5, 2015, granted conditional approval of the
Disclosure Statement, and set a Sept. 18 deadline for written
objections to final approval of the Disclosure Statement and
confirmation of the Plan, and scheduled a Sept. 25 preliminary
confirmation hearing.

Creditors Wells Fargo, Chemical Formulators, Inc. and Ghandy View
Realty, Inc., as well as the U.S. Trustee, have raised objections
to confirmation of the Plan.

                       The Chapter 11 Plan

Viper Ventures filed a proposed plan of reorganization and
disclosure statement on April 10, 2015, and then filed an amended
plan and disclosure statement April 17.

The Debtor's proposed Chapter 11 plan provides that:

     (i) Wells Fargo's secured claims (Class 2) will be paid in
full in five years.  Beginning on the Effective Date, the Debtor
will pay Wells Fargo on a monthly basis interest only payments
calculated at the annual rate of 4.75% for 24 months, monthly
payments of principal and interest at the annual rate of 4.75%
beginning on the 25th month until the 59th month, and a balloon
payment on the 60th month.

    (ii) The secured claims of affiliated entity Viper Lending LLC
(Class 3) will be subordinated to Wells Fargo's claims and will not
receive any payment until after Wells Fargo's claims have been paid
in full.  The Viper Lending claims will be paid in full, through a
balloon payment due 30 days after payment in full of Wells Fargo's
claims.

   (iii) As to the secured claim of David Henderson based upon his
Lien on the 2011 ExMark Tractor Mower (Class 4), and the secured
claim of Mr. Henderson based upon his Lien on the 2011 Toyota
Tacoma Truck (Class 5), the loan documents with Mr. Henderson will
be modified such that the maturity date is extended by 2 years and
the interest rate is reduced to 3% per annum.

    (iv) Holders of Allowed unsecured claims (Class 6) will be paid
annually on account of their allowed unsecured claims a pro rata
share from the annual "Net Cash Flow," if any, available from the
disposable income of the Reorganized Debtor.  "Net Cash Flow" will
be total cash receipts less labor, materials, operating, general,
and administrative expenses, and less cash necessary for debt
service, reserving for operating capital, and payment of applicable
income taxes.  The payments to Allowed Class 6 Claims shall be
payable in 5 annual payments.  It is anticipated that allowed
unsecured claims will be paid in full within two years of the
Effective Date.

     (v) The members (Class 7) will retain the equity interests,
and their interests are unimpaired.

    (vi) With respect to the existing indemnity claims of third
party plaintiffs (Class 8), in exchange for the injunction and
exculpation provisions contained in Article 11 and the dismissal
with prejudice of the claims against them, the Third Party
Plaintiffs will release their existing indemnity claims.

A copy of the First Amended and Restated Disclosure Statement
explaining the First Amended and Restated Plan of Reorganization
filed April 17, 2015, is available for free at:

    http://bankrupt.com/misc/Viper_Ventures_43_DS_Plan.pdf

                      Voting Results

The Debtor's counsel has submitted a ballot tabulation, which
indicates that Classes 2 and 6 voted to reject the Plan:

            TOTAL VOTING     ACCEPTANCES      PERCENTAGES
   Class     No.  Amount     No. Amount       No. Amount
   -----     ---  ------     --- ------       ---  ------
     2        1 $14,386,842    0        $0       0%    0%
     3        1    $147,028    1  $147,028     100%  100%
     4        1      $4,737    1    $4,737     100%  100%
     5        1     $14,036    1   $14,036     100%  100%
     6       11  $2,644,668    8   $15,704      73%    0.01%
     8       13     $80,180   13   $80,180     100%  100%
     9        1    $167,715    1  $157,715     100%  100%

Although Nod Pod, LLC did not file a proof of claim by the claims
bar date and was scheduled for informational purposes only, Nod Pod
mailed an original ballot to Debtor's counsel in the amount of
$11,000 rejecting the Plan.  Accordingly, the Debtor sought and
order striking the ballot cast by Nod Pod on the ground that Nod
Pod does not have a claim.  The Debtor excluded Nod Pod's claim
from the ballot tabulation.

The Debtors' attorneys:

         STICHTER, RIEDEL, BLAIN & PROSSER, P.A.
         Edward J. Peterson, III, Esq.
         110 East Madison Street, Suite 200
         Tampa, Florida 33602
         Telephone: (813) 229-0144
         Facsimile: (813) 229-1811
         E-mail: epeterson@srbp.com

                       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 leases the Property to
tenants including Cargill, Prestige Yachts, Lazarra Yacht Corp.,
and RiverHawk Marine, LLC.

Viper Ventures acquired the property in June 2004 using funding
that was provided by two loans from Wachovia Bank, N.A.,
predecessor in interest to Wells Fargo Bank, N.A., and by
investments from 16 individuals or entities who hold equity
positions ranging from as much as 20% to as little as 0.6%.  Each
of the Investors executed documents pursuant to which they
guaranteed the repayment of 175% of their share of the loans.

After Wells Fargo declared a default, and filed complaints against
some of the guarantors, 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.

                           *     *     *

The Debtor in April 2015 filed a proposed reorganization plan that
promises to pay secured creditor Wells Fargo in full in five years
and unsecured creditors in two years.


VIPER VENTURES: CFI and GVR Want Claims Allowed for Voting
----------------------------------------------------------
Chemical Formulators, Inc. ("CFI") and Ghandy View Realty, Inc.
("GVR") filed a document (i) responding to debtor Viper Ventures,
LLC's objection to Claims Nos. 4 and 27 filed by CFI as well as the
Debtor's objection to Claims Nos. 5, 6, and 26 filed by GVR, and
(ii) asking the Court to temporarily estimate and allow the claims
for the purpose of voting on the Debtor's Amended Plan of
Reorganization.

                          Port Agreement

GVR owns real property adjacent to the Debtor's real property on
Rattlesnake Point.  Affiliate CFI leases the real property from GVR
and operates a chlorine packaging and bleach manufacturing facility
on the property.  GVR and Rattlesnake entered into a port agreement
and certain pipeline easements which allowed CFI to utilize the
Debtor's dock, and maintain a pipeline under the Debtor's real
property.  Under the terms of the port agreement, the Debtor was
responsible for making repairs at the dock areas.

Prior to the commencement of the Debtor's bankruptcy, on Nov. 15,
2011, the Debtor commenced that certain state court action, styled
Viper Ventures, LLC v. Ghandv View Realty, Inc. and Chemical
Formulators, Inc., et. al., Case No. U-CA-014623 Div. L, pending
before the Thirteenth Judicial Circuit for Hillsborough County,
Florida, wherein the Debtor seeks to terminate and/or nullify the
Port Agreement as an "unreasonable restraint on the alienation of
real property."

On July 17, 2015, the Bankruptcy Court entered an order modifying
the automatic stay to allow the State Court Action to proceed
forward to a full and final resolution of the State Court Action in
State Court, and to liquidate the Creditor's claims against the
Debtor.  The State Court Action is scheduled to be tried late in
the first quarter of 2016 or early in the second quarter of 2016.

                          Proofs of Claim

On June 8, 2015, CFI timely filed Claim No. 4 in the bankruptcy
case in the liquidated amount of $125,000, plus pre and
post-petition interest, costs, and attorney's fees as allowed by
law relating to costs associated with repairing a dock which the
Debtor failed and refused to repair under their Port Agreement.

On June 8, 2015, GVR timely filed Claim No. 5 in the liquidated
amount of $125,000, plus pre and post-petition interest, costs, and
attorneys fees as allowed by law, relating to the costs associated
with repairing a dock which the Debtor failed and refused to repair
under their Post Agreement.

On June 8, 2015, GVR timely filed Claim No 6 in this case in the
liquidated amount of $125,000, plus pre and post-petition
interests, costs and attorney's fees as allowed by law.  Claim No.
6 is duplicative of Claim No 5 and GVR withdraws Claim No. 6.

On Sept. 16, 2015, GVR timely filed claim No 26 in an unliquidated
amount relating to certain state court action commended by the
Debtor.

On Sept. 16, 2015, CFI timely filed Claim No 27 in an unliquidated
amount relating to the State Court Action.

Pursuant to the terms of Claim Nos. 4 and 5, CFI and GVR
acknowledged that, out of an abundance of caution, duplicate proofs
of claims were filed by CFI and GVR seeking recovery of the
liquidated amount of $125,000, plus pre and post petition
interests, costs and attorneys fees as allowed by law, relating to
the costs associated with repairing a dock which the Debtor failed
and refused to repair under the Port Agreement.  CFI and GVR do not
seek allowance of duplicative claims, only the allowance of one
claim as set forth herein.

Similarly, pursuant to the terms of Claim Nos. 26 and 27, CFI and
GVR acknowledge that, out of an abundance of caution, duplicate
proofs of claim were filed by CFI and GVR seeking recovery of
damages relating to the State Court Action.  CFI and GVR do not
seek allowance of duplicative claim, only the allowance of one
claim in the amount of damage as will be determined by the State
Court in the State Court Action.

On Sept. 22, 2015, the Debtor filed its objection to Claim Nos. 4
and 27 (Doc. 196) and its objection to Claim Nos. 5, 6, and 26
(Doc. 197), asserting that the claims are unliquidated,
duplicative, were caused by GVR, and that the Debtor had commenced
the State Court Action seeking to terminate/nullify the Port
Agreement.

No hearing has been held yet on the Debtor's objections to CFI and
GVR's claims.

                       Allowance for Voting

Bankruptcy Rule 3018 (a) permits temporary allowance of claims to
which an objection is pending to permit a creditor to vote for or
against the plan.

John J. Lamoureux, Esq., at Carlton Fields, P.A., notes that next
to the potential unsecured deficiency claim of Wells Fargo, CFI and
GVR are the largest unsecured creditors of the Debtor.  CFI and GVR
already suffered $125,000 in damages as a result of the Debtor's
failure to repair the dock under the Port Agreement and should, at
a minimum, be allowed to vote its $125,000 claim, Mr. Lamoureux
asserts.

Mr. Lamoureux adds that if the Debtor is successful in the State
Court Action and CFI and GVR cannot use the dock and underground
pipe easement to transport certain raw material from the dock to
Creditor's Plant, CFI and GVR's plant will no longer be economical
viable and will have to close, causing damages to CFI and GVR of at
least $16 million.  The Court should estimate CFI and GVR's
unsecured claim arising from the State Court Action, and allow that
claim for purposes of voting. Alternatively, confirmation should be
continued until the State Court liquidates CFI and GVR's claims in
the State Court Action.

Accordingly, CFI and GVR request that the Court enter an order: (a)
granting the withdrawal of GVR's Claim No. 6; (b) temporarily allow
Creditor, for purposes of voting on the Plan, a combined unsecured
claim (Claim Nos. 4 and 5) in the principal amount of $125,000; (c)
temporarily estimate and allow Creditor, for purposes of voting on
the Plan, a combined unsecured claim (Claim Nos. 26 and 27)
relating to the State Court Action; (d) continue the confirmation
hearing until the State Court has ruled on the State Court Action
and CFI and GVR's claims relating to the State Court Action has
been liquidated; and/or (e) for such other and further relief as is
just, equitable and proper.

CFI and GVR are represented by:

         John J. Lamoureux, Esq.
         CARLTON FIELDS, P.A.
         4221 W. Boy Scout Blvd., Suite 1000
         Tampa, Florida 33607-5780
         Telephone: (813) 223-7000
         Facsimile: (813) 229-4133
         E-mail: jlamoureux@cfjb.com

                       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 leases the Property to
tenants including Cargill, Prestige Yachts, Lazarra Yacht Corp.,
and RiverHawk Marine, LLC.

Viper Ventures acquired the property in June 2004 using funding
that was provided by two loans from Wachovia Bank, N.A.,
predecessor in interest to Wells Fargo Bank, N.A., and by
investments from 16 individuals or entities who hold equity
positions ranging from as much as 20% to as little as 0.6%.  Each
of the Investors executed documents pursuant to which they
guaranteed the repayment of 175% of their share of the loans.

After Wells Fargo declared a default, and filed complaints against
some of the guarantors, 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.

                           *     *     *

The Debtor in April 2015 filed a proposed reorganization plan that
promises to pay secured creditor Wells Fargo in full in five years
and unsecured creditors in two years.


VIPER VENTURES: U.S. Trustee Raises Several Issues With Plan
------------------------------------------------------------
Guy G. Gebhardt, Acting United States Trustee for Region 21, filed
an objection to confirmation of Viper Ventures, L.L.C.'s First
Amended Chapter 11 Plan of Reorganization dated April 17, 2015.

The U.S. Trustee, in its objection filed in September, said the
Plan fails to comply with 11 U.S.C. Sec. 1129(a)(1) because, among
other things:

   -- The Plan at Article 3, impermissibly attempts to render the
United States Trustee Fees as a standard administrative expense
claim governed under Section 503 thereby requiring the filing of
applications.

   -- The Plan at Article 5.3.4 and 5.3.5 is computationally
inconsistent.  These plan provisions provide a 30 year amortization
at 4.75% with interest only payments for 24 months, interest and
principal for 35 months, and a balloon payment at month 60.

   -- The Plan at Articles 5.5.2 and 5.6.2 fail to comply with Till
on rate of interest reduction from contract rates.

   -- The Plan at Article 5.7.2 fails to provide any foundation as
to what, if any, the holders of allowed general unsecured claims
will receive under the plan.

   -- The Plan at Article 5.8 fails to comply with the Absolute
Priority Rule in that the plan subordinates secured tax claims to a
class below equity.

   -- The Plan at Article 5.8 fails to comply with the Absolute
Priority Rule in that the plan fails to provide payment in full to
holders of allowed general unsecured claims.

   -- The Plan at Article 7.5.1 impermissibly usurps the Bankruptcy
Court's jurisdictional authority to set and establish claims bar
dates.

   -- The Plan at Article 8.9 fails to identify what, if any,
causes of action are preserved and accordingly thereby fails to
preserve any causes of action.

The U.S. Trustee is represented by:

         J. Steven Wilkes (Ala Bar # WIL-278)
         Trial Attorney
         U.S. Department of Justice
         Office of the U.S. Trustee, Region 21
         501 East Polk Street, Suite 1200
         Tampa, FL 33602
         Tel: (813) 228-2000
         Fax: (813) 228-2303
         E-mail: steven.wilkes@usdoj.gov

                       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 leases the Property to
tenants including Cargill, Prestige Yachts, Lazarra Yacht Corp.,
and RiverHawk Marine, LLC.

Viper Ventures acquired the property in June 2004 using funding
that was provided by two loans from Wachovia Bank, N.A.,
predecessor in interest to Wells Fargo Bank, N.A., and by
investments from 16 individuals or entities who hold equity
positions ranging from as much as 20% to as little as 0.6%.  Each
of the Investors executed documents pursuant to which they
guaranteed the repayment of 175% of their share of the loans.

After Wells Fargo declared a default, and filed complaints against
some of the guarantors, 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.

                           *     *     *

The Debtor in April 2015 filed a proposed reorganization plan that
promises to pay secured creditor Wells Fargo in full in five years
and unsecured creditors in two years.


VIPER VENTURES: Wells Fargo, Creditors Object to Plan Confirmation
------------------------------------------------------------------
Secured creditor Wells Fargo Bank, N.A., and unsecured creditors
Chemical Formulators, Inc., and Ghandy View Realty, Inc., are
opposing confirmation of Viper Ventures, LLC's First Amended and
Restated Plan of Reorganization.

Wells Fargo objects to confirmation on various grounds, including:

   -- The classification of claims and interests under the Plan is
a transparent attempt at gerrymandering in order to artificially
construct one or more accepting impaired classes and/or invalidly
classifies the various claims and therefore fails the confirmation
standards set forth in Section 1129(a)(12) and (2).  The Plan has
created at least 2 artificially impaired classes of claims (Classes
4 and 5), and simultaneously created 3 classes in which the same
parties -- the Member/Guarantors -- are supposedly the claimants
(Classes 3, 7, and 8).  The Viper Lending loan (Class 3) is nothing
more than equity for any real purpose that has been dressed up as a
secured claim.

    -- As set forth in Wells Fargo's dismissal motion, the
bankruptcy case has been filed for the principal purposes of
protecting the non-debtor, Member/Guarantors, as well as for the
purpose of delaying Lender in the legitimate pursuit of its rights
under the Loan Documents.  As such, the Plan has not been proposed
in good faith.

   -- Because the principal purpose of the Plan is to require
dismissal of any pending action against the Member/Guarantors
and/or purports to include an injunction and/or bar order and
releases of the Member/Guarantors from their guarantees, the Plan
violates Section 524 of the Bankruptcy Code.

   -- The Plan cannot be confirmed pursuant to Section 1129(a)(11)
as the Plan is not feasible on, at least, the following bases:

       * In the first two years, even the Plan projections indicate
a net operating, cash shortfall of $800,000.  The funding of such
shortfall is dependent upon a supposed loan by an affiliated
third-party, Viper Lending, which loan is supposedly to be funded
by the very same individuals who have refused to perform under
their existing guarantees and/or fund the Debtor's operations; and

       * The Debtor's historical operation, and its current rent
roll, belie any finding that the dramatic increase in rental income
anticipated in years 3 through 5 of the Plan can be achieved.

   -- The Debtor cannot comply with the provisions of Section
1129(b) of the Bankruptcy Code, with respect to Lender, as the Plan
is not fair and equitable and unfairly discriminates against the
Lender, on various grounds, including, the proposed interest rate
of 4.75 percent, interest only payments for 2 years, the proposed
amortization schedule over 30 years and the balloon payment do not
provide the Lender the present value of its secured claim as
determined by applicable confirmation standards (i.e. Till).

Wells Fargo requests entry of an order (i) denying Plan
confirmation, and (ii) dismissing the Debtor's Chapter 11 case.

                     CFI and GVR Objections

Chemical Formulators, Inc., and Ghandy View Realty, which assert a
general unsecured claim for $125,000 and a contingent and
unliquidated unsecured claim in an amount not less than $16 million
for breaches under a port agreement with the Debtor, say they
object to the Plan as currently proposed.

Issues raised in the CFI and GVR objection include:

   -- CFI and GVR will not retain or receive property they would
receive if the Property were liquidated under Chapter 7. As such,
the Plan violates Bankruptcy Code Sec. 1129(a)(7) and (8).

   -- CFI and GVR object to the Plan to the extent the Plan
attempts to "gerrymander" unsecured creditors in violation of 11
U.S.C. Sec. 1122.  Specifically, the Class 8 - Existing Indemnity
Claims of the Third Party Plaintiff, the Debtor has improperly
created a class in order to have one impaired class of claims vote
in favor of the Plan.  At best, such indemnity claims are unsecured
claims. However, such indemnity claims that have not yet been
incurred.  Further, pursuant to the loan documents between the
Class 8 creditors and Lender, such claim do not exist until
Lender's claim is paid in full.

   -- CFI and GVR object to the Plan to the extent that unsecured
creditors in Class 6 will not receive interest on their allowed
unsecured claims before equity holders or subordinated creditors
receive payment.  CFI and GVR would propose that the Plan be
amended to provide that unsecured creditors receive interest on
their unsecured claims at the Prime Rate, as published in the Wall
Street Journal, until such unsecured claims are paid in full,
before there is any distribution to subordinate creditors or equity
interests.

   -- With respect to unsecured claims, the Plan violates the
absolute priority rule because unsecured creditors, including CFI
and GVR, are not being paid in full with interest while the
guarantors are retaining their ownership interests in the Debtor
without providing any new value.

   -- Even if old equity were contributing new value, the Supreme
Court has prohibited the transfer of the equity of a reorganized
debtor to old equity without market-testing the value of the
equity.

   -- The Debtor proposes to fund its Plan from its continued
operations and funding from Viper Veenture's $1 million line of
credit.  The margin for error, between the projected cash flow,
loans, and the obligations Debtor would be responsible to pay under
the Plan, is extremely small.

   -- The Guarantors, non-debtors, are being granted an injunction
from their existing guarantee obligations to Lender.

  -- The lending relationship between Viper Lending and the Debtor
is a poorly disguised attempt to have an equity contribution become
a secured claim at the expense of unsecured creditors.  In essence,
equity was able to secure its capital contribution at the expense
of unsecured creditors.

CFI and GVR also object to final approval of the Disclosure
Statement on grounds that it does not contain "adequate
information" within the meaning of Sec. 1125.

CFI and GVR are represented by:

         John J. Lamoureux, Esq.
         CARLTON FIELDS, P.A.
         4221 W. Boy Scout Blvd., Suite 1000
         Tampa, FL  33607-5780
         Telephone: (813) 223-7000
         Facsimile: (813) 229-4133
         E-mail: jlamoureux@cfjb.com

Wells Fargo Bank is represented by:

         Andrew M. Brumby, Esq.
         SHUTTS & BOWEN LLP
         300 S. Orange Avenue, Suite 1000
         Orlando, FL 32801
         Telephone: (407) 423-3200
         Facsimile: (407) 425-8316
         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

                       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 leases the Property to
tenants including Cargill, Prestige Yachts, Lazarra Yacht Corp.,
and RiverHawk Marine, LLC.

Viper Ventures acquired the property in June 2004 using funding
that was provided by two loans from Wachovia Bank, N.A.,
predecessor in interest to Wells Fargo Bank, N.A., and by
investments from 16 individuals or entities who hold equity
positions ranging from as much as 20% to as little as 0.6%.  Each
of the Investors executed documents pursuant to which they
guaranteed the repayment of 175% of their share of the loans.

After Wells Fargo declared a default, and filed complaints against
some of the guarantors, 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.

                           *     *     *

The Debtor in April 2015 filed a proposed reorganization plan that
promises to pay secured creditor Wells Fargo in full in five years
and unsecured creditors in two years.


VIRTUAL PIGGY: Issues $150,000 Promissory Notes
-----------------------------------------------
Virtual Piggy, Inc., issued an aggregate of $150,000 principal
amount of unsecured Promissory Notes to accredited investors from
Oct. 6, 2015, through Oct. 9, 2015, according to a regulatory
filing with the Securities and Exchange Commission.  The Investors
also received two-year Warrants to purchase an aggregate of 75,000
shares of Company common stock at an exercise price of $0.90 per
share, representing 50% of the applicable principal amount of the
Notes.

The Notes bear interest at a rate of 10 percent per annum and
mature on the six month anniversary of the applicable issuance
date, or on such earlier date that (i) the Company completes the
closing of a specified joint venture agreement or (ii) the Company
completes the sale of at least an additional $1 million of 10%
Secured Convertible Promissory Notes.

                 About Oink (Virtual Piggy, Inc.)

Virtual Piggy is the provider of Oink, a secure online and in-store
teen wallet.  Oink enables teens to manage and spend money within
parental controls, while gaining valuable financial management
skills.  The technology company also delivers payment platforms
designed for the Under 21 age group in the global market, and
enables online businesses the ability to function in a  manner
consistent with the Children's Online Privacy Protection Act and
similar international children's privacy laws.  The company, based
in Hermosa Beach, CA, is on the Web at: http://www.oink.com/and
holds three technology patents, US Patent No. 8,762,230, 8,650,621
and 8,812,395.

Virtual Piggy reported a net loss of $9.65 million in 2014, a net
loss of $16 million in 2013 and a net loss of $12.03 million in
2012.

As of June 30, 2015, the Company had $1.6 million in total assets,
$5.2 million in total liabilities, all current, and a stockholders'
deficit of $3.5 million.

Morison Cogen LLP, in Bala Cynwyd, PA, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company's losses from
development stage activities raise substantial doubt about its
ability to continue as a going concern.


WAJAX CORP: DBRS Confirms 'BB(high)' Issuer Rating
--------------------------------------------------
DBRS Limited has confirmed the Issuer Rating of Wajax Corporation
at BB (high) and the Company's Senior Unsecured Notes rating at BB
(low), based on a Recovery Rating of RR6. The trends remain Stable.
The confirmation reflects the Company's demonstrated commitment to
maintaining a strong financial profile during a period of
challenging market conditions. In particular, the decision to issue
equity to reduce debt led to a stronger set of debt metrics despite
continued weakness in operating earnings and cash flows. During the
12-month period (LTM) to June 2015, the Company also reduced its
dividend payout policy and undertook restructuring actions at both
its Power Systems and Industrial Components divisions to reduce
costs and improve efficiency, including workforce reductions. All
of Wajax's key coverage metrics are well above the current rating
category ranges, and the financial profile improved over the 12
months to June 2015.

During that period, market conditions, especially in Wajax's key
Western Canadian sectors (mining, oil and gas, oil sands)
deteriorated further, as reflected in the continued declines in
commodity prices. This led to decreased equipment sales volumes and
deferrals of maintenance and repair work, as Wajax customers
focused on reducing expenditures. While some growth was achieved in
other sectors, for example forestry equipment sales rose across
Canada in H1 2015, the impact of the economic slowdown on Wajax's
Western Canadian customers caused a drop in overall earnings and
operating cash flows.

The outlook for Wajax is for a continued challenging market
environment, especially in Western Canada. However, as a result of
the recent debt reduction, the Company has some cushion in its
financial profile to weather the continued weakening of earnings
and operating cash flows expected going forward through the end of
2015 and into 2016. DBRS expects Wajax to make progress toward the
achievement of its longer-term strategy: focusing on improving
customer relationships, growing core businesses organically, making
modest acquisitions to bolster repair and maintenance capacity, and
improving internal systems. Should markets continue to deteriorate,
or remain at their depressed level for an extended period of time,
certain of Wajax's customers who are currently operating at a loss
may need to cease operations. If this were to lead to a material
reduction in operating performance and/or if debt-financed
acquisitions were to be greater than expected, resulting in
adjusted debt-to-EBITDA rising above 3.5 times on an LTM basis, a
negative rating action may be required.


WALTER INVESTMENT: S&P Revises Outlook to Stable & Affirms B+ ICR
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised its outlook
on Walter Investment Management Corp. to stable from negative.  At
the same time, S&P affirmed its 'B+' issuer credit rating.

S&P also raised the rating on the firm's term loan to 'BB-' from
'B+' and revised the recovery rating to '2' from '3'.  The '2'
recovery rating indicates S&P's expectation for substantial
recovery (70% to 90%; the lower half of the range) in the event of
default.  S&P also affirmed its 'B-' rating on the company's senior
unsecured notes.  The recovery rating on the notes is '6',
indicating S&P's expectation for negligible (0% to 10%) recovery in
the event of payment default.

The outlook revision is based on a combination of Walter's recent
progress on moving to a fee-for-service business model, the
company's settlement with U.S. Department of Housing and Urban
Development program (HUD) and U.S. Department of Justice (DOJ), and
the Green Tree servicing segment's resolution with the Consumer
Financial Protection Bureau (CFPB) and Federal Trade Commission
(FTC).

Over the past several years, Walter has been working toward a
balance-sheet-light growth strategy, where it will sell mortgage
servicing rights (MSRs) to a related party -- Walter Capital
Opportunity Corp. (WCO) -- and retain the lower-earning
subservicing contracts.  By purchasing MSRs, WCO will help Walter's
growth and enable it to reduce the amount of capital and funding it
would otherwise need.  In August, Walter announced that Marix, a
WCO subsidiary, had obtained the necessary licenses to be the
primary holder of MSRs.  S&P believes this key step will facilitate
the migration of more MSRs to WCO from Walter. In September, Walter
also announced its intention to pay down at least $50 million of
its debt.  Even though the payment is nominal compared with the
total debt balance, S&P believes the payment indicates that
management will consider deleveraging as the most efficient use of
MSR sale proceeds.

In September, Walter also announced that it finalized a settlement
with HUD and the DOJ that fully resolved allegations that Reverse
Mortgage Solutions Inc., a Walter subsidiary, did not comply with
certain regulations applicable to it.  Although the settlement did
not contain any admission or finding of wrongdoing by Walter, the
company has agreed to pay a $29.63 million settlement payment.
Earlier this year, the company's Green Tree servicing segment
agreed to a stipulated order with the CFPB and FTC to resolve
alleged violations of various consumer financial laws.  According
to complaints by the CFPB and FTC, Green Tree failed to honor
modifications for loans transferred from other servicers, demanded
payments before providing loss mitigation options, delayed
decisions on short sales, and harassed and threatened overdue
borrowers.  Without admitting or denying the allegations, Walter
agreed to pay $48 million for consumer redress and a civil money
penalty of $15 million.  S&P believes the resolution of these
matters is a credit positive for Walter because it removes a
substantial amount of uncertainty for the company.  Moreover, S&P
believes the $93 million in payments do not have any substantial
impact on the financial position of the company.

"The stable outlook reflects our view that Walter will either
conservatively increase its servicing assets and balance sheet or
transition to a lighter balance sheet by selling servicing assets,
while retaining subservicing contracts, and reducing its debt
profile," said Standard & Poor's credit analyst Stephen Lynch.  The
stable outlook is also based on S&P's assumption that the company
will not be subject to any substantial regulatory or compliance
violations.

Over the next year, S&P could lower the rating if earnings
deteriorate and if it expects debt to EBITDA to rise over 5x.  S&P
could also lower the rating if Walter is subject to another
substantial regulatory investigation, especially since the company
only recently settled claims by the DOJ and CFPB.

S&P could raise the rating if Walter is able to sell servicing
assets and pay down debt while generating stable earnings through
subservicing arrangements.  More specifically, S&P could raise the
rating if the company lowers debt to EBITDA below 4x and the
company is able to show a stable source of future servicing assets
through either its own origination channel or flow purchase
agreements with other mortgage banks and partners.



[*] "Chapter 20" Debtors Eligible to Void Liens
-----------------------------------------------
Bloomberg News reported that "Chapter 20" debtors who filed for
Chapter 7 bankruptcy and less than four years later filed for
Chapter 13 protection are ineligible for a discharge but can still
take advantage of lien-avoidance tools in a Chapter 13 proceeding,
the Ninth Circuit held Oct. 1.

According to the report, the appeals court agreed with the Fourth
and Eleventh circuits that Section 1328(f), enacted as part of the
Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) in
2005, did not render Chapter 20 debtors ineligible to void liens
permanently upon the completion of a Chapter 13 plan.  Section
1328(f) bars Chapter 20 debtors from receiving a discharge at the
conclusion of their Chapter 13 reorganization if they received a
Chapter 7 discharge within four years of filing for Chapter 13
relief, the report related.

According to t


[*] Bank Servicers' Subprime Loans See Higher Losses, Moody's Says
------------------------------------------------------------------
In the top US states for home foreclosures, loans serviced by banks
experience higher losses than those serviced by non-bank entities,
Moody's Investors Service says in a new report.

Moody's report compares loss severities on loans serviced by banks
and those serviced by non-banks in Florida, New York and New Jersey
over the past 12 months.  These three states account for 42% of all
subprime loans in foreclosure in private-label residential
mortgage-backed securities (RMBS), and in all three loss severities
on bank-serviced loans were found to be more than 10% higher than
they were on loans serviced by non-banks.

"One of the main reasons bank-serviced loans see higher losses than
non-bank-serviced loans is that the former usually have longer
foreclosure timelines due to regulatory settlements," says Vice
President -- Senior Credit Officer, William Fricke.  "The
additional time needed to process foreclosures led banks'
foreclosure inventories to grow, while non-bank servicers did not
initially face the same scrutiny, keeping their inventories smaller
and their foreclosure timelines shorter."

Bank-serviced loans saw higher losses because longer timelines
increase expenses to the RMBS trusts that hold the loans, Fricke
says in a special section of Moody's second-quarter Servicer
Dashboard titled "Loss Severities Are Higher for Bank-Serviced
Loans than Non-Bank-Serviced Loans."  Such expenses include
principal and interest advances on delinquent loans, tax and
insurance payments, attorney fees and property maintenance costs.

Non-bank servicers' foreclosure timelines did eventually lengthen
with the establishment of the Consumer Financial Protection Bureau
and the adoption of the National Mortgage Servicing Standards, both
of which affected the entire mortgage-servicing industry, Moody's
says.  But because they still have a large pipeline of loans in
foreclosure, bank servicers' losses will remain higher than
non-bank servicers' through 2017 as both bank-serviced and non-bank
serviced loans move slowly through the liquidation process.



[*] Fitch: Limp Energy/Nat. Resources Sectors Lead to 3Q Downgrades
-------------------------------------------------------------------
The energy (oil and gas) and natural resources sectors lead
corporate sector downgrades during the third quarter, making up 40%
of downgrades, according to Fitch Ratings.  Issuers' position on
the global cost curve and sound liquidity have differentiated
stable larger participants from vulnerable, sometimes smaller,
entities.

For the third quarter of 2015 non-financial corporate (corporate)
downgrades exceeded upgrades by 1.4x to 1.0x (or 2.0x for the nine
months ending September 2015).  The downgrade-to-upgrade ratio
attributed to changes in the operating/industry profile was 1.2x to
1.0x (nine months ended September 2015: 1.3x).  The energy (oil and
gas) and natural resources sectors lead corporate sector
downgrades, making up 40% of downgrades for the quarter.  In
several instances, rating actions reflect announced restructurings
or the heightened risk of restructuring (including a distressed
debt exchange).

Adding to energy woes, coal producers are still struggling with an
over supplied coal market.  Downgrades in the quarter here included
Arch Coal, Peabody Energy, and Indika Energy.  Globally, both
metallurgical and steam coal markets are in excess supply,
pressuring prices.  Coal producers are in cost reduction and cash
preservation mode and demand from China is starting to weaken.
Fitch believes the hard coking coal bench mark price could average
below $100.00/tonne (t) and the Newcastle steam coal benchmark
could be below $60.00/t over the next 12 months versus current
prices of $89.00/t and $67.80/t, respectively, before supply
rationalizes.

Exploration and production (E&P) credits remain under pressure.
Persistently weak oil prices have continued to lead to
project/capital expenditure reduction or delays.  This continues to
weaken credit profiles within the sector, particularly E&P services
and related issuers such as Transocean Inc. (BB+/Stable) Anton
Oilfield Service Group (B-/Negative), Honghua Group Ltd.
(B/Negative), and Offshore Drilling Holding, S.A. (B+/Negative).
Fitch does not expect the situation to improve significantly in the
next 12 months given the capex cuts by many oil majors.



[*] Phoenix's Michael Jacoby to Be Inducted as Bankruptcy Fellow
----------------------------------------------------------------
Phoenix Management Services on Oct. 14 disclosed that Michael
Jacoby, Senior Managing Director and Shareholder of the firm, will
be inducted to The American College of Bankruptcy as a Fellow.

Mr. Jacoby will join a select group of professionals honored and
recognized for their professional excellence and remarkable
contributions to the insolvency and bankruptcy community.  The
ceremony will take place on Friday, March 18, 2016 in Washington
D.C. at the Smithsonian Donald W. Reynolds Center for the American
Art and Portraiture.

The American College of Bankruptcy is an honorary public service
association of bankruptcy and insolvency professionals.  The
College has over 800 Fellows, each selected by a Board of Regents
from among recommendations of the Circuit Admissions Council in
each federal judicial circuit and specially appointed Committees
for Judicial and International Fellows.

Fellows are nominated and extended an invitation to join based on a
proven record of the highest standards of professionalism and
service to the profession and their communities.  Criteria for
selection include: the highest standard of professionalism, ethics,
character, integrity, professional expertise and leadership in
contributing to the enhancement of bankruptcy and insolvency
processes; sustained evidence of scholarship, teaching, lecturing
or writing on bankruptcy or insolvency; and commitment to elevate
knowledge and understanding of the profession and public respect
for the practice.  Mr. Jacoby will join distinguished judges,
lawyers, international fellows, accountants, corporate turnaround
specialists, government officials and other professionals who are
acknowledged as experts in the bankruptcy and insolvency field.

                        About Phoenix

For 30 years, Phoenix has provided smarter, operationally focused
solutions for middle market companies in transition.  Phoenix
Management Services(R) provides turnaround, crisis and interim
management, specialized advisory and operational due diligence
services for both distressed and growth oriented companies.
Phoenix Transaction Advisory Services(SM) provides quality of
earnings, management/organizational review, business integration,
sell-side business preparation and other transaction related
support.  Phoenix Capital Resources(R) provides seamless investment
banking solutions including M&A advisory, complex restructurings
and capital placements.  Phoenix Capital Resources is a U.S.
registered broker-dealer and member of FINRA and SIPC.



[*] Profit Growth to Slow for Auto Parts Suppliers, Moody's Says
----------------------------------------------------------------
Profit growth among auto parts supplies will slow over the next
12-18 months, tempered by the strong dollar, smaller gains in US
car sales and the costs of new automotive platforms, says Moody's
Investor Service.  However, the rating agency maintains its stable
outlook on the sector as gradually improving operating profits,
modest growth in global automotive demand and stabilizing global
commercial vehicle production levels will continue to support
strong cash generation.

Moody's expects US sales growth to slow to 2.8% in 2015 and 2.4% in
2016.  While down from 6.2% growth in 2014, sales remain on track
to reach their highest annual level since 2001, according to the
report "Profit Growth to Slow on Strong Dollar, Cooling US Auto
Sales Gains."

The strong dollar will likely limit revenue growth for most larger
North American auto parts suppliers, with exposure to Europe
averaging about 40%.  It has also muted operating profit growth,
leading Moody's to forecast median EBITA growth of 3%-4% in both
2015 and 2016, down from 10.7% in 2014.

Other headwinds include slowing GDP growth in China and
recessionary conditions in Latin America.  However, Moody's expects
other factors to mitigate these macroeconomic factors.

"Improving vehicle demand in North America and Europe will more
than make up for weakening near-term demand in China and the weak
macroeconomic environment in Latin America," said Timothy Harrod, a
Moody's Vice President and Senior Credit Officer.  Auto parts
suppliers generate 65%-70% of their revenue from North America and
Europe.

Moreover, while Moody's forecasts anemic sales growth in China in
2015, the agency expect sales to rebound in 2016.

Strong profit gains among companies that produce high-margin
components that relate to fuel efficiency emission controls, active
safety, infotainment/electrical content and connectivity will
continue to drive EBITA growth.

"The strength of these segments is fueling M&A activity as
companies seek to capitalize on major technology trends in the
automotive sector.  Although some recent acquisitions have driven
leverage higher within the industry, we believe it will remain at
acceptable levels to support shareholder-friendly actions such as
share repurchases," said Harrod.  Strong free cash flow generation
is a key factor supporting this activity.

Commercial vehicle production will soften, growing 6%-7% in 2015
and 5% in 2016, down from 10% in 2014, owing to weaker off-highway
vehicle sales and cooling replacement demand as the average fleet
age of heavy-duty trucks in North America normalizes at around six
years.  However, a decline in North American production of Class 8
commercial vehicles and slower global growth in commercial vehicle
production will also be contributing factors.



[*] U.S. Energy and Metals/Mining Issuance Slows, Fitch Says
------------------------------------------------------------
U.S. energy and metals/mining recorded its lowest quarterly new
issuance in four years, as sustained commodity price weakness and
oversupply continue to afflict these two sectors, says Fitch
Ratings.

Overall, new issuance slowed in September to $20 billion from $41
billion a year earlier.  Third quarter new issuance tallied $38
billion versus $69 billion in 2014.  Volume in the first nine
months of 2015 is down 35% year over year for energy and
metals/mining but up 3% for the rest of the high yield market.

"Capital markets access for many commodity price-challenged
companies has been solid for most of 2015, but energy and
metals/mining issuance trailed off dramatically in the third
quarter, registering $5 billion versus $16 billion in the second
quarter," said Eric Rosenthal, Senior Director of Leveraged
Finance.

Nearly half of U.S. energy and metals/mining bond issues are bid
below 80 cents compared to just 7% a year ago.  These two sectors
comprise about 22% of the overall high yield bond market.

The trailing 12-month (TTM) high yield default rate stands at 4.8%
and 10.3% for the energy and metals/mining sectors, respectively.
The former is at its highest rate since 1999.  The overall TTM
default rate is 2.9%.

The U.S. high yield bond market has seen at least four defaults per
month since February, including October, which already has six
registering more than $2 billion in volume.  More than $4 billion
in default volume has been tallied for three consecutive months in
the third quarter, levels not seen since 2009.



[^] BOOK REVIEW: The Financial Giants In United States History
--------------------------------------------------------------
Author:  Meade Minnigerode
Publisher:  Beard Books
Softcover:  260 pages
List Price:  $34.95

Order your personal copy today at http://is.gd/tJWvs2

The financial giants were Stephen Girard, John Jacob Astor, Jay
Cooke, Daniel Drew, Cornelius Vanderbilt, Jay Gould, and Jim Fisk.
The accomplishments of some have made them household names today.
But all were active in the mid 1800s. This was a time when the
United States, having freed itself from Great Britain only a few
decades earlier, was gaining its stride as an independent nation.
The country was expanding westward, starting to engage in
significant international trade, and laying the foundations for
becoming a major industrial power. Astor, Vanderbilt, Gould, and
the others played major parts in all these areas. During the Civil
War in the first half of the 1860s, some became leading suppliers
of goods or financiers to the Federal government.

Minnigerode's focus is the highlights of the life of each of the
seven. Along with this, he identifies each one's prime
characteristics contributing to his road to fortune and how his
life turned out in the end. Not all of the men managed to keep and
pass on the fortunes they amassed. They are seen a "financial
giants" not only because they made fortunes in the early days of
American business and industry, but also for their place in laying
out the groundwork for American business enterprise, innovation,
and leadership, and for the notoriety they had in their day.

Minnigerode summarizes the style or achievement of each man in a
single word or short phrase. Stephan Girard is "The Merchant
Banker"; Cornelius Vanderbilt, "The Commodore." "The Old Man of
the Street" summarizes Daniel Drew"; with "The Wizard of Wall
Street" summarizing Jay Gould. Jim Fisk is "The Mountebank."

Jay Cooke, "The Tycoon," was to be "known throughout the country
for his astonishingly successful handling of the great Federal
loans which financed the Civil War." After the War, one of the
leaders of the Confederacy remarked that the South was really
defeated in the Federal Treasury Department thus, even on the
enemy side, giving recognition to Cooke's invaluable work of
enabling the Federal government to meet the huge costs of the War.
After the War, having earned the reputation as "the foremost
financier in the country," Cooke became involved in many large
financial ventures, including the building of a railroad to link
the East and West coasts of America. In this railroad venture,
however, Cooke and his banking firm made a fatal misstep in
investing in the Northern Pacific railway. The Northern Pacific
turned out to be a house of cards. When Cooke's firm was unable to
meet interest payments it owed because of money it had put into
the Northern Pacific, the firm went bankrupt; and this caused
alarm in the stock market and financial circles.

The roads to wealth of the "financial giants" were not smooth.
Like others amassing great wealth, they had to take risks. The
tales Minnigerode tells are not only instructive on how
individuals have historically made fortunes in business and the
characteristics they had for this, but are also cautionary tales
on the contingency of great wealth in some circumstances. Jim
Fisk, for instance, a larger-than life character "jovial and quick
witted [who was also] a swindler and a bandit, a destroyer of law
and an apostle of fraud," was presumably killed by a former
business partner. Unlike Cooke and Fisk, Cornelius Vanderbilt and
John Jacob Astor built fortunes that lasted generations.
Vanderbilt - nicknamed Commodore - starting in the New York City
area, built ships and established domestic and international
merchant and passenger lines. With the government coming to depend
on these with the rapid growth of commerce of the period and the
Civil War for a time, Vanderbilt practically had monopolistic
control of private shipping in the U.S. Astor made his fortune by
developing trade and other business in the upper Midwest, which
was at the time the sparsely-populated frontier of America, rich
in natural resources and other potential with the Great Lakes and
regional rivers as a means for transportation.

Although the social and business conditions in the early and mid
1800s when the U.S. was in the early stages of its development
were unique to that period, by concentrating on the
characteristics, personalities, strategies, and activities of the
seven outstanding businessmen of this period, Minnigerode
highlights business traits and acumen that are timeless. His
sharply-focused, short biographies are colorful and memorable.
This author has written many other books and worked in the
military and government.


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2015.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***