TCR_Public/151119.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, November 19, 2015, Vol. 19, No. 323

                            Headlines

22ND CENTURY: Incurs $2.76 Million Net Loss in Third Quarter
22ND CENTURY: Settles All Litigation with Former CEO Pandolfino
33 PECK SLIP: May Hold Auction for Seaport Hotel Dec. 1
ACCESS CIG: Moody's Affirms 'B3' CFR on Proposed Term Loan Add-ons
ADAMIS PHARMACEUTICALS: Incurs $3.14 Million Net Loss in Q3

AEROGROW INTERNATIONAL: Posts $1.16 Million Net Loss for Q2
ALLIANCE ONE: Baupost Group, et al., No Longer Own Shares
ALLIANCE ONE: Delays Filing of Sept. 30 Quarterly Report
ALLIED SYSTEMS: Yucaipa Directed to Produce Docs to Committee
AMERICAN HOUSING: Liquidating Trust to Substitute 4 Claimants

BION ENVIRONMENTAL: Incurs $833,000 Net Loss in First Quarter
BLACK ELK ENERGY: Compromise on Replacement Bonds Wins Court Nod
BLACK ELK ENERGY: Donation Agreement with Louisiana State Approved
BLACK HILLS: S&P Assigns 'BB+' Rating on Proposed $260MM Equity
BLACKHAWK MINING: S&P Withdraws 'B' CCR at Company's Request

BLUEHIPPO FUNDING: FTC Entitled to Presumption of Consumer Reliance
BOWERS INVESTMENT: Case Summary & 12 Largest Unsecured Creditors
BOX SHIPS: NYSE Opts to Delist Common & Preferred Stock
BROOKE CORP: Kutak Rock Settles Malpractice Suit for $17.7M
BROOKLYN RENAISSANCE: 555-557 Union Up for Sale, 2 Others Deferred

BROOKLYN RENAISSANCE: Must Pay Adequate Protection to Secureds
BROOKLYN RENAISSANCE: Salzano Bid for Stay Relief Denied
C&J ENERGY: S&P Lowers CCR to 'B-', Outlook Negative
CAESARS ENTERTAINMENT: Bids to Enforce Stay Against NRF Denied
CAESARS ENTERTAINMENT: Q3 Loss Largely From Unit's Bankruptcy Costs

CAL DIVE: Creditor Balks at Bid to Prioritize Injured Workers
CALIFORNIA MIDAS: High Court Won't Hear $11.7M Alter-Ego Tax Case
CHONG'S INC: Case Summary & 11 Largest Unsecured Creditors
COCO BEACH: Wigberto Lugo Mender Okayed as Legal Representative
COLT DEFENSE: Cleared to Solicit Votes to Rework $250M Bond Debt

CONSTELLATION BRANDS: Fitch Affirms 'BB+' Issuer Default Rating
CONSTELLATION BRANDS: S&P Affirms 'BB+' CCR, Outlook Stable
COUTURE HOTEL: Mansa Says New Plan Can't Be Confirmed
CUI GLOBAL: Incurs $59,000 Net Loss in Third Quarter
DLN PROPERTIES: Case Summary & 4 Largest Unsecured Creditors

ELITE PHARMACEUTICALS: Incurs $7 Million Net Loss in 2nd Quarter
ENERGY FUTURE: Court Sustains Objection to UMB's PIK Claim
ENERGY FUTURE: Has Nod to Join Bidding for Business Assets
EQUINIX FIRST: Fitch Assigns First Time 'BB' Issuer Default Rating
EQUINIX INC: Moody's Affirms Ba3 CFR & Rates New Unsecured Notes B1

EQUINIX INC: S&P Assigns 'BB' Rating on Proposed $1BB Sr. Notes
EXIDE TECHNOLOGIES: Investors Say Execs Covered Up Failure
FPL ENERGY: Fitch Affirms BB Rating on Opco's 2024 Notes
FRONTIER STAR: Case Summary & 20 Largest Unsecured Creditors
GENERAL MOTORS: New GM's Liability for Punitive Damages Limited

GENESYS RESEARCH: Trustee Taps Verdolino & Lowey as Accountants
GERARD LEONARD ROY: Indicted on Fraud and Money Laundering Charges
HAGGEN HOLDINGS: Gelson's Wins Final Approval to Buy 6 Properties
HII TECHNOLOGIES: Creditors' Committee Taps Locke Lord as Counsel
HII TECHNOLOGIES: Indeglia & Carney Okayed as Securities Counsel

HOVENSA LLC: JKD Seeks Payment of Claim from Sale Proceeds
HOVENSA LLC: Judge Extends Deadline to Remove Suits to March 14
HOWREY LLP: Conversion to Ch. 7 Likely Over Rent Claims Impasse
IMAGEWARE SYSTEMS: Delays Third Quarter Form 10-Q
IMPLANT SCIENCES: Needs More Time to File Q3 Form 10-Q

KITTUSAMY LLP: Kolesar & Leatham Okayed as Bankruptcy Counsel
LIGHTSQUARED INC: Closer to Transferring Airwaves
MAJOR LEAGUE: Trustee Says Agent Can't Arbitrate $3M Contract Row
MIH ADMIN SERVICES: Case Summary & 20 Top Unsecured Creditors
MOLYCORP INC: Ordered Into Mediation With Creditors

MOLYCORP INC: Some Creditors Cry Foul Over Bankruptcy Plan
MOLYCORP: Seeks Approval of Modified Employee Incentive Program
MONAKER GROUP: Closes Sale of 100,000 Units for $250,000
MURRAY CORP: Sales Said to Drop Amid Canceled Coal Contracts
MUSCLEPHARM CORP: Wynnefield Holds 6.7% Stake as of Nov. 9

NEONODE INC: Incurs $1.36 Million Net Loss in Third Quarter
NEW DAWN ASSISTED: Case Summary & 20 Largest Unsecured Creditors
OIC RUN-OFF LIMITED: Seeks Joint Administration of Cases
OIC RUN-OFF LIMITED: Seeks US Recognition of UK Scheme
OXYSURE SYSTEMS: Board OKs Name Change to OxySure Therapeutics

OXYSURE SYSTEMS: Seeks Millions in Damages in Lawsuit vs. Redwine
PBF HOLDING: Moody's Affirms Ba3 CFR & Rates $500MM Sec. Notes B1
PBF HOLDING: S&P Affirms 'BB' Corporate Credit Rating
PLEASE TOUCH: Dilworth Paxson Approved as Bankruptcy Counsel
PLEASE TOUCH: Lists $16.2-Mil. in Assets, $63.5-Mil. in Debts

QUAKER STEAK: TravelCenters to Acquire Assets for $25 Million
QUEST SOLUTION: Q3 Conference Call Held Nov. 12
QUIRKY INC: Court Approves Employee Incentive and Retention Plans
QUIRKY INC: Otterbourg Files Rule 2019 Statement
RAILYARD COMPANY: Parties Support Bid for Ch. 11 Trustee

RDIO INC: Seeks Approval of Auction and Bidding Procedures
RI WELLINGTON: Case Summary & 19 Largest Unsecured Creditors
RJT ENTERPRISES: Case Summary & 20 Largest Unsecured Creditors
ROBERT LESLIE: Dismissal of Suit Against Wells Fargo Affirmed
ROBVENT PROPERTIES: Case Summary & 20 Largest Unsecured Creditors

ROYAL TRACTOR: Case Summary & 20 Largest Unsecured Creditors
SAINT MICHAEL: Prime's $62M Bid for NJ Hospital Tops Auction
SEAN DOMINIC CRESAP: Court Confirms Reorganization Plan
SENTINEL MANAGEMENT: Trustee Takes 2nd Shot at BNYM's $312M Claim
SEQUA CORP: Roiled in Debt Market as Earnings Said to Tank

SEVENTY SEVEN: Moody's Lowers CFR to Caa1; Outlook Still Negative
ST. MICHAEL'S: Hearing on Exclusivity Extension Bid Set for Nov. 24
STACY L. DANLEY II: Court Refuses to Vacate Order Lifting Stay
SUPERIOR OFFSHORE: Ex-CFO's Suit Against Insurer Remanded
THEODORE GOULD: Tax Refund Suit Dismissed

US STEEL: S&P Affirms 'BB-' CCR & Revises Outlook to Neg.
VERSO CORP: Reports Q3 Results, Mulls Restructuring, Asset Sales
VERSO PAPER: S&P Lowers CCR to 'CCC-', Outlook Negative
ZUFFA LLC: S&P Revises Outlook to Stable & Affirms 'BB-' CCR
[*] Akerman LLP Launches National Fraud & Recovery Practice Group

[*] Global Regulators Finish Bank 'Bail-In' Proposal

                            *********

22ND CENTURY: Incurs $2.76 Million Net Loss in Third Quarter
------------------------------------------------------------
22nd Century Group, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $2.76 million on $2.66 million of revenue for the three months
ended Sept. 30, 2015, compared to a net loss of $2.72 million on
$64,431 of revenue for the same period during the prior year.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $8.16 million on $5.59 million of revenue compared to a
net loss of $10 million on $528,080 of revenue for the same period
a year ago.

As of Sept. 30, 2015, the Company had $21.0 million in total
assets, $6.79 million in total liabilities and $14.2 million in
total shareholders' equity.

As of Sept. 30, 2015, the Company had positive working capital of
approximately $6.8 million compared to positive working capital of
approximately $8.0 million at Dec. 31, 2014, a decrease of
approximately $1.2 million.

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

                      http://is.gd/WpjI6g

                      About 22nd Century

Clarence, New York-based 22nd Century Group, Inc., through its
wholly-owned subsidiary, 22nd Century Ltd, is a plant
biotechnology company using technology that allows for the level
of nicotine and other nicotinic alkaloids (e.g., nornicotine,
anatabine and anabasine) in tobacco plants to be decreased or
increased through genetic engineering and plant breeding.

22nd Century reported a net loss of $15.6 million on $529,000 of
revenue for the year ended Dec. 31, 2014, compared to a net loss of
$26.2 million on $7.27 million of revenue during the prior year.


22ND CENTURY: Settles All Litigation with Former CEO Pandolfino
---------------------------------------------------------------
22nd Century Group, Inc., announced that the Company and Joseph
Pandolfino, the former CEO and founder of the Company, have settled
all litigation and disputes between the parties.

Henry Sicignano, III, 22nd Century's chief executive officer and
president stated, "As the founder of 22nd Century and as a major
stockholder, Joe's interests are closely aligned with those of
other shareholders.  We look forward to Joe's helpful input going
forward as a strategic consultant who will be tasked with assisting
22nd Century on special projects such as commercialization of RED
SUN, MAGIC and our extraordinary modified risk tobacco products in
development - BRAND A and BRAND B."

Joseph Pandolfino said, "I am thrilled that all disagreements
between me and the Company have been resolved.  As a strategic
consultant, I look forward to working with Henry and the team to
create shareholder value.  22nd Century is a unique company with an
important public health mission and I remain dedicated to its
success."

In connection with the Settlement Agreement:

1. Mr. Pandolfino agreed to and did resign from the Company's
    Board of Directors on November 6, 2015.

2. Mr. Pandolfino entered into a lock-up agreement with the
    Company pursuant to which Mr. Pandolfino has agreed to not
    sell, pledge or otherwise encumber or transfer any shares of
    the Company's common stock beneficially owned by Mr.
    Pandolfino during the period from the date of the settlement
    agreement through Dec. 31, 2016.

3. Subject to the Company making all of the severance payments
    and consulting payments, Mr. Pandolfino agreed that he: (i)  
    shall not vote any Company securities against the reelection
    of any of the current directors of the Company, and (ii) shall
    not vote for, or provide any support whatsoever for, any
    change in control of the Company or any of its affiliates or
    any candidate for election to the Board of Directors of the
    Company unless such candidate has been selected and endorsed
    by the Nominating Committee of the Board of Directors of the
    Company.

4. Of the total amount of $46,069 due from Alternative Cigarettes

    to the Company, AC has agreed to pay the Company the amount of
    $23,069 in cash and AC has issued to the Company a promissory
    note, together with a guaranty of such promissory note by Mr.
    Pandolfino, for the remaining balance of $23,000 to be paid by
    AC or Mr. Pandolfino to the Company by or before Dec. 1, 2015.
    AC and Mr. Pandolfino have also transferred to the Company
    certain specified assets of AC. AC and Mr. Pandolfino have
    agreed that AC will continue to not have any operations or
    business and thereafter pay off all of its liabilities and
    liquidate, dissolve and/or be sold to an unaffiliated third-
    party on or before Dec. 31, 2015.

5. The Company has agreed to pay the severance benefit to Mr.
    Pandolfino as provided under his employment agreement, with
   (i) payment to Mr. Pandolfino of all severance amounts due and
    owing for the period from Feb. 8, 2015, through the date of
    the settlement agreement, after the deduction of all
    applicable taxes and other withholdings, and (ii) the
    remaining balance of Mr. Pandolfino's severance being
    thereafter paid to Mr. Pandolfino by the Company, after the
    deduction of all applicable taxes and other withholdings, over

    the remaining portion of the three-year period following the
    prior termination date of Mr. Pandolfino’s employment with
the
    Company.  Mr. Pandolfino continues to be bound by specified
    provisions of his employment agreement, including, but not
    limited to, the non-compete, the restrictive covenants, the
    confidentiality provisions and the non-solicitation provisions

    of such employment agreement.

6. The Company has agreed to retain Mr. Pandolfino as a
    consultant for a period of 30 months from the date of the
    settlement agreement, during which period Mr. Pandolfino will
    be compensated at the gross rate of $6,000 per month.  Mr.
    Pandolfino will perform services as reasonably requested by
    the Chief Executive Officer of the Company.  After the first
    12 months of the consulting term, Mr. Pandolfino may, in his
    discretion, terminate the consulting arrangement on 30 days'
    prior written notice to the Company whereupon no further
    consulting fees shall be due to him, but Mr. Pandolfino will
    continue to be bound by the surviving provisions of the
    consulting agreement, the employment agreement and the
    settlement agreement.

7. As long as Mr. Pandolfino does not materially breach of any of
    his obligations to the Company, then (i) the stock option
    granted to Mr. Pandolfino on March 3, 2015, to purchase  
    100,000 shares of the Company's common stock for $1.43 per
    share will vest as originally scheduled on March 3, 2016, and
    (ii) the Company will remove Mr. Pandolfino on or before
    Dec. 31, 2015, as a guarantor on a pre-existing bank loan to
    the Company.  In addition, the Company has acknowledged its
    obligation to continue to indemnify Mr. Pandolfino as a former

    officer and director of the Company and its affiliates.

8. Each party has agreed to pay for its own expenses incurred in
    connection with the litigation proceedings to date between the

    parties and finalizing the settlement agreement.  The
    settlement agreement also contains an exchange of mutual
    releases and a termination of all pending lawsuits by the
    parties against each other.

                        About 22nd Century

Clarence, New York-based 22nd Century Group, Inc., through its
wholly-owned subsidiary, 22nd Century Ltd, is a plant
biotechnology company using technology that allows for the level
of nicotine and other nicotinic alkaloids (e.g., nornicotine,
anatabine and anabasine) in tobacco plants to be decreased or
increased through genetic engineering and plant breeding.

22nd Century reported a net loss of $15.6 million on $529,000 of
revenue for the year ended Dec. 31, 2014, compared to a net loss of
$26.2 million on $7.27 million of revenue during the prior year.

As of Sept. 30, 2015, the Company had $21.01 million in total
assets, $6.79 million in total liabilities and $14.21 million in
total shareholders' equity.


33 PECK SLIP: May Hold Auction for Seaport Hotel Dec. 1
-------------------------------------------------------
33 Peck Slip Acquisition LLC will hold an auction on Dec. 1 if it
receives multiple bids for its hotel property in Manhattan.

The company owns the Best Western Seaport Hotel, which it decided
to put up for sale following its bankruptcy filing in September.

Potential buyers have until Nov. 24 to make an offer for the
property.  The bid must include a cash deposit or cashier's check
in the amount of $3.73 million to be delivered by Nov. 30,
according to the bidding process that Judge James Garrity Jr.
approved last month.

The winning bid will be subject to court approval either through an
order confirming the company's liquidating plan or a separate order
authorizing the sale.

Morning View Hotels – New York Seaport LLC, which made a $37.3
million deal with the company in September to acquire the property,
will take part at the auction as stalking horse bidder.  

33 Peck had earlier defended its decision to have Morning View
Hotels as stalking horse bidder, saying the company based it on the
latter's ability to close and several other factors.

The decision was previously criticized by William Obeid, a manager
at Gemini Real Estate Advisors, who said the purchase price offered
was "neither fair nor reasonable."   

Mr. Obeid and a group of lenders also criticized the transactions
for the three other Manhattan hotel properties owned by 33 Peck's
affiliates.  

The lenders, which include Cornerstone Real Estate Advisers, called
for a more transparent sale process, according to court filings.

In September, two of 33 Peck's affiliates entered into separate
transactions with Bridgeton Acquisitions LLC, which offered a total
of $135 million for the Jade Greenwich Village Hotel and the
Wyndham Flatiron Hotel.

Meanwhile, 36 West 38th Street LLC, another affiliate, dropped its
bid to sell its hotel property in Manhattan to Hansji Corp.  An
agreement with a new buyer is expected to be filed with the court
prior to the Nov. 30 hearing on the liquidating plan, according to
court filings.

                         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.

As of the bankruptcy filing, the Debtors owned:

   * 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 Robert
Douglas as real estate advisor.

                           *     *     *

The bar date for filing proofs of claim is Dec. 16, 2015.

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 a Nov. 10 auction.  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.


ACCESS CIG: Moody's Affirms 'B3' CFR on Proposed Term Loan Add-ons
------------------------------------------------------------------
Moody's Investors Service affirmed Access CIG LLC's B3 Corporate
Family Rating and B3-PD Probability of Default Rating following the
company's announcement to acquire a U.S.-based records and
information management provider.  The company plans to use proceeds
from an incremental $60 million first lien term loan and $40
million second lien term loan to finance the acquisition and pay
associated transaction expenses.  Concurrently, Moody's affirmed
the B2 ratings on the company's first lien credit facility,
consisting of a $40 million revolving credit facility and $462
million first lien term loan (including the proposed $60 million
incremental facility), and the Caa2 rating on its $192 million
second lien term loan (including the proposed $40 million
incremental facility).  The ratings outlook remains stable.

The affirmation of the B3 CFR reflects Moody's view that the
proposed transaction is largely leverage neutral and will not
result in a material change in the company's credit profile.  While
the absolute amount of debt will increase substantially, it is
balanced by the incremental EBITDA from the acquisition target as
well as benefits Access will receive from one-time productivity
improvements following completion of the integration.  Access
should also benefit from the acquired entity's products that will
provide an increased presence in the faster growing digital
document management space, where Access does relatively little
business.  On a pro forma basis for recent acquisitions (including
acquisition target's full year's EBITDA but excluding cost savings
initiatives and integration expenses), Access' debt-to-EBITDA
(Moody's adjusted) is expected to increase to above 8.0 times from
7.7 times for the twelve months ended Sept. 30, 2015.  However,
Moody's expects debt-to-EBITDA leverage to return to around 7.0
times by year-end 2016 as a result of synergy realization, decline
in integration expenses and modest organic growth.

According to Moody's analyst Oleg Markin, "The incremental debt and
resulting high leverage following the acquisition is tolerated by
solid EBITDA margins and a highly recurring revenue model."

Moody's took these rating actions on Access CIG, LLC:

   -- Corporate Family Rating, affirmed at B3
   -- Probability of Default Rating, affirmed at B3-PD
   -- $40 million first lien revolving credit facility due 2019,
      affirmed at B2 (LGD3)
   -- $462 million first lien term loan due 2021 (including
      proposed $60 million add-on) affirmed at B2 (LGD3)
   -- $192 million second lien term loan due 2022 (including
      proposed $40 million add-on) affirmed at Caa2 (LGD5)
   -- Outlook is stable

RATINGS RATIONALE

Access's B3 Corporate Family Rating reflects its high pro forma
leverage, small revenue base and highly acquisitive growth
strategies.  Access' revenues for the last twelve months ended
Sept. 30, 2015, are estimated to be approximately $238 million
(including full year effect of 2015 acquisitions).  Moody's
believes that over time organic growth in the company's high margin
document storage business will be increasingly constrained by the
ongoing secular shift away from paper towards electronic media and
business growth will be primarily driven by small acquisitions that
Moody's views as a cost-effective source of new customers.  At the
same time, the company's credit profile benefits from its highly
recurring records storage revenues (approximately 60% of total
revenue), high EBITDA margins of approximately 40% and expected
modest growth in outsourcing of document storage in the small and
medium business (SMB) market segment, which is the company's
primary area of focus.  Access' revenues have high geographic and
customer diversity within the US, with historically strong client
retention rates.

Access will have an adequate liquidity profile upon completion of
the proposed add-on term loans supported by $7 million of pro forma
balance sheet cash, modestly positive projected free cash flow
(assuming no acquisitions), and approximately $38 million of
availability on its $40 million revolver expiring in 2019.  Moody's
expects that the company's funding needs will increase relative to
its revolver capacity, given an increase in acquisition and
integration expenses.  The revolver is subject to a springing net
leverage ratio if utilization exceeds 30% but there are no
covenants on the term loans.

The stable rating outlook reflects Moody's view that the company's
credit metrics will slightly improve over the next 12 to 18 months.
The stable rating outlook also anticipates that Access will
successfully complete integration of recent acquisitions, realize
cost synergies as expected and maintain at least an adequate
liquidity profile.

The ratings could be downgraded if the company faces top-line and
earnings pressure such that financial leverage remains elevated, or
if Access' operating margin, cash flow, or liquidity were to
deteriorate.

Given Access' high financial leverage and modest scale a ratings
upgrade is not expected in the intermediate term.  Profitable
revenue growth that leads to a material reduction in leverage, free
cash flow in excess of 5% of total debt, and a good liquidity
position is necessary for an upgrade.

Headquartered in Livermore, CA, Access Information Management
provides records and information management services primarily to
small and medium enterprises in the U.S.

The principal methodology used in this rating was Business and
Consumer Service Industry published in December 2014.



ADAMIS PHARMACEUTICALS: Incurs $3.14 Million Net Loss in Q3
-----------------------------------------------------------
Adamis Pharmaceuticals Corporation filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $3.14 million on $0 of revenue for the three months
ended Sept. 30, 2015, compared to a net loss of $2.12 million on $0
of revenue for the same period last year.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $9.93 million on $0 of revenue compared to a net loss
of $6.55 million on $0 of revenue for the same period during the
prior year.

As of Sept. 30, 2015, the Company had $14.6 million in total
assets, $2.23 million in total liabilities and $12.3 million in
total stockholders' equity.

                         Bankruptcy Warning

"Our management intends to attempt to secure additional required
funding through equity or debt financings, sales or out-licensing
of intellectual property assets, seeking partnerships with other
pharmaceutical companies or third parties to co-develop and fund
research and development efforts, or similar transactions. However,
there can be no assurance that we will be able to obtain any
required additional funding.  If we are unsuccessful in securing
funding from any of these sources, we will defer, reduce or
eliminate certain planned expenditures and delay development or
commercialization of some or all of our products.  If we do not
have sufficient funds to continue operations, we could be required
to seek bankruptcy protection or other alternatives that could
result in our stockholders losing some or all of their investment
in us," the Company states in the report.

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

                      http://is.gd/mgT3Kd

                         About Adamis

San Diego, Calif.-based Adamis Pharmaceuticals Corporation (OTC
QB: ADMP) is a biopharmaceutical company engaged in the
development and commercialization of specialty pharmaceutical and
biotechnology products in the therapeutic areas of respiratory
disease, allergy, oncology and immunology.

Mayer Hoffman McCann, P.C., in San Diego, California, issued a
"going concern" qualification on the consolidated financial
statements for the transition period ended Dec. 31, 2014, citing
that the Company has incurred recurring losses from operations, and
is dependent on additional financing to fund operations.

Adamis reported a net loss of $8.15 million for the year ended
March 31, 2014, as compared with a net loss of $7.19 million for
the year ended March 31, 2013.


AEROGROW INTERNATIONAL: Posts $1.16 Million Net Loss for Q2
-----------------------------------------------------------
Aerogrow International, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $1.16 million on $1.09 million of net revenue for the
three months ended Sept. 30, 2015, compared to a net loss of
$507,000 on $1.70 million of net revenue for the same period during
the prior year.

For the six months ended Sept. 30, 2015, the Company reported a net
loss of $2.38 million on $2.66 million of net revenue compared to a
net loss of $1.36 million on $3.39 million of revenue for the same
period last year.

As of Sept. 30, 2015, the Company had $9.33 million in total
assets, $9.08 million in total liabilities, all current, and
$246,000 in total stockholders' equity.

"Year over year sales comparisons in these low volume quarters are
always a challenge for us due to the timing of shipments to
retailers, but  our overall strategy for Fiscal 2016 remains on
track," said President and CEO J. Michael Wolfe.  "In the quarter
we actually shipped over 35% more than we did in the same quarter
last year.  While we were unable to recognize much of the increase
due to GAAP, this gives us a good head start on our December
quarter sales.  I would add that we anticipate our quarterly sales
comps during the first six months of the fiscal year, which over
the last two years represented only about 10% of our annual sales,
may continue to be inconsistent as we test various retail channel
strategies in an effort to optimize sales and profitability
throughout the year."

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

                       http://is.gd/mggtZi

                         About AeroGrow

Boulder, Colo.-based AeroGrow International, Inc., is a developer,
marketer, direct-seller, and wholesaler of advanced indoor garden
systems designed for consumer use and priced to appeal to the
gardening, cooking, and healthy eating, and home and office decor
markets.

AeroGrow reported a net loss attributable to common shareholders of
$1.5 million on $17.9 million of net revenue for the year ended
March 31, 2015, compared with a net loss attributable to common
shareholders of $4.1 million on $9.3 million of of net revenue for
the year ended March 31, 2014.


ALLIANCE ONE: Baupost Group, et al., No Longer Own Shares
---------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, The Baupost Group, L.L.C., SAK Corporation and Seth A.
Klarman disclosed that as of Oct. 31, 2015, they ceased to
beneficially own shares of common stock of Alliance One
International, Inc.  A copy of the regulatory filing is avaialble
for free at http://is.gd/mgUkit

                        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-'.


ALLIANCE ONE: Delays Filing of Sept. 30 Quarterly Report
--------------------------------------------------------
Alliance One International, Inc., announced that it would not file
its report on Form 10-Q for the quarter ended Sept. 30, 2015,
within the required time period.  The delay is related to
discrepancies in accounts receivable and inventory at its Kenyan
subsidiary, Alliance One Tobacco (Kenya) Limited, discovered in the
course of downsizing and terminating certain operations as part of
AOI's previously announced restructuring and cost-saving
initiative.  Following the planned restructuring, the Company will
no longer source Kenyan leaf tobacco, but will continue to process
Ugandan-sourced leaf tobacco in a third party Kenyan facility.

Presently available information suggests that the discrepancies may
stretch back to 2008 or earlier and could reach approximately $40
million in aggregate.  Because AOI has been unable thus far to
determine the timing and amount of these discrepancies, no
conclusion has been reached regarding materiality.  It is, however,
possible that the discrepancies may prove to be material. The
discrepancies consist primarily of inventory variances that are not
yet accounted for, including differences in deferred crop costs,
finished goods inventory, green inventory, agricultural supplies,
and packing materials.  Independent counsel and forensic
accountants have been engaged to help determine the nature and
timing of the acts that caused the discrepancies and identify the
parties responsible.  AOI has no evidence indicating similar issues
elsewhere within its organization and believes the problems are
unique and limited to the Kenyan operation.

AOI expects fiscal 2016 sales to be similar to fiscal 2015 sales,
and adjusted EBITDA for fiscal 2016 should exceed the prior year
(before giving effect to any adjustments that may be required by
the discrepancies in Kenya).  Historically, operations of Alliance
One Tobacco (Kenya) Limited have not contributed significantly to
AOI's performance, and over the last 5 years the subsidiary's
reported annual operating income has been in a range of
approximately ($2.5) million to $2.4 million (before giving effect
to any adjustments that may be required by the discrepancies in
Kenya).

AOI intends to file a Form 12b-25 (Notification of Late Filing)
with the Securities and Exchange Commission for the fiscal 2016
Second Quarter Form 10-Q and will make the quarterly filing as soon
as practicable.

A conference call was held on Nov. 9, 2015.

                        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-'.


ALLIED SYSTEMS: Yucaipa Directed to Produce Docs to Committee
-------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 cases of Allied Systems Holdings, Inc., et al., filed a
motion to compel the production of documents over the Yucaipa
Defendant's Objections.

In a Memorandum Order dated November 9, 2015, which is available at
http://is.gd/yuQeACfrom Leagle.com, Judge Christopher S. Sontchi
of the United States Bankruptcy Court for the District of Delaware
granted the Committee's Motion and overruled the Yucaipa
Defendants' objection.  Judge Sontchi directed the Yucaipa
Defendants to produce all documents, if any, responsive to the
Requests at Issue.

The case is THE OFFICIAL COMMITTEE OF UNSECURED CREDITORS OF ALLIED
SYSTEMS HOLDING, INC. AND ITS AFFILIATED DEBTORS, Plaintiffs, v.
BLACK DIAMOND OPPORTUNITY FUND II, LP, BLACK DIAMOND CLO 2005-1
LTD., AND SPECTRUM INVESTMENT PARTNERS, L.P., Intervenors, v.
YUCAIPA AMERICAN ALLIANCE FUND I, L.P., YUCAIPA AMERICAN ALLIANCE
(PARALLEL FUND I, L.P., YUCAIPA AMERICAN ALLIANCE FUND, II, L.P.,
AND YUCAIPA AMERICAN ALLIANCE (PARALLEL) FUND II, L.P., MARK J.
GENDREGSKE, JOS OPDEWEEGH, JAMES FRANK, DEREX WALKER, JEFF
PELLETIER, IRA TOCHNER, AND JOSEPH TOMCZAK, Defendants, ADV. PROC.
NO. 13-50530 (CSS)(Bankr. D. Del.).

The bankruptcy case is In re ALLIED SYSTEMS HOLDINGS, INC., Chapter
11, Debtor, CASE NO. 12-11564 (CSS), JOINTLY ADMINISTERED(Bankr. D.
Del.).

The Official Committee of Unsecured Creditors of Allied Systems
Holdings, Inc. and its affiliated debtors, Plaintiff, represented
by William A. Hazeltine, Esq. -- whazeltine@sha-llc.com -- Sullivan
Hazeltine Allinson LLC, William D. Sullivan, Esq. --
wsullivan@sha-llc.com -- Sullivan Hazeltine Allinson LLC.

Yucaipa American Alliance Fund I, L.P., Defendant, represented by
Donald J. Bowman Jr., Esq. -- dbowman@ycst.com -- Young, Conaway,
Stargatt & Taylor, Michael S. Neiburg, Esq. -- mneiburg@ycst.com --
Young Conaway Stargatt & Taylor, LLP, Michael R. Nestor, Esq. --
mnestor@ycst.com -- Young Conaway Stargatt & Taylor Laurel D.
Roglen, Esq. -- lroglen@ycst.com -- Young Conaway Stargatt &
Taylor, LLP, Sharon M. Zieg, Esq. -- szieg@ycst.com -- Young,
Conaway, Stargatt & Taylor.

Mark J Gendregske, Defendant, represented by Stewart D. Aaron, Esq.
-- Stewart.Aaron@aporter.com -- Arnold & Porter LLP, Derek C.
Abbott, Esq. -- dabbott@mnat.com -- Morris, Nichols, Arsht &
Tunnell, Brandon L. Boxler, Esq. -- Brandon.Boxler@aporter.com --
Arnold & Porter LLP, Erin R Fay,  Esq. -- efay@mnat.com -- Morris,
Nichols, Arsht & Tunnell, LLP, Ron Ghatan, Esq. --
Ron.Ghatan@aporter.com -- Arnold & Porter LLP, Ian S. Hoffman, Esq.
-- Ian.Hoffman@aporter.com -- Arnold & Porter LLP, John C. Massaro,
Esq. -- John.Massaro@aporter.com -- Arnold & Porter LLP, Amy
Sennett, Esq. -- Amy.Sennett@aporter.com -- Arnold & Porter LLP,
Susan L. Shin, Esq. -- Susan.Shin@aporter.com -- Arnold & Porter
LLP.

                About Allied Systems Holdings

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

                          *     *     *

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

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


AMERICAN HOUSING: Liquidating Trust to Substitute 4 Claimants
-------------------------------------------------------------
Judge Robert L. Jones of the United States Bankruptcy Court for the
Northern District of Texas, Amarillo Division, will issue an order
substituting the Unified AHF Unsecured Creditors' Liquidating Trust
for the claimants -- Robert L. Templeton, Heron Land Company, Paul
King, and the Estate of Frances Maddox -- as owner of the claims
filed by the four claimants.

On July 7, 2015, the Trust filed its Notice of Transfer of Claims
under Rule 3001(e)(2) of the Federal Rules of Bankruptcy Procedure,
identifying 29 claims from 29 claimants that were transferred to
the Trust on March 31, 2011, shortly after the liquidating plan of
American Housing Foundation was confirmed by the court.

On July 30, 2015, the four claimants -- Templeton, Heron Land,
King, and the Estate of Frances Maddox -- filed their "limited
objection" to the Notice.  They submitted that the Trust "is in the
process of negotiating a reassignment of the claims to the Four
Claimants" and that the "reassignments will render the Notice moot
as to these claims, as the Unified Trust is not the holder of the
claims."  The Trust, on September 8, 2015, filed its Confirmation
of Limited Objection and Withdrawal of Notice of Transfer,
acknowledging the reassignment and asking that the court "not
recognize the transfer of claims originally requested in the Notice
of Transfer with respect to the four claimants.

On September 9, 2015, Walter O'Cheskey, Liquidating Trustee in the
AHF Liquidating Trust, filed his objection, opposing the Trust's
attempt to effectively undue the March 2011 transfers by the four
claimants, and requesting that the court confirm the transfers to
the Trust and require notice anew, in accordance with Rule
3001(e)(2), of any transfer of claims back to the four claimants.

Judge Jones stated that Rule 3001(e) requires that the transferee
file notice of the transfer with the court.  The judge concluded
that the purported reassignments do not undo the March 31, 2011
assignments.

The case is In re: American Housing Foundation, Debtor, CASE NO.
09-20232-RLJ (Bankr. N.D. Tex.).

A full-text copy of Judge Jones' November 2, 2015 memorandum
opinion is available at http://is.gd/xGniiZfrom Leagle.com.

Robert L. Templeton is represented by:

          Jeffery D. Carruth, Esq.
          WEYCER, KAPLAN, PULASKI & ZUBER, P.C.
          11 Greenway Plaza, Suite 1400
          Houston, TX 77046
          Tel: (713) 961-9045
          Email: jcarruth@wkpz.com

            -- and --

          David R. Langston, Esq.
          MULLIN, HOARD & BROWN
          Wells Fargo Center
          1500 Broadway Suite 700
          Lubbock, TX 79401
          Tel: (806) 765-7491
          Fax: (806) 765-0553
          Email: drl@mhba.com

            -- and --

          Joe L. Lovell, Esq.
          John H. Lovell, Esq.
          Deborah D. Reeves, Esq.
          LOVELL, LOVELL, NEWSOM & ISERN, LLP
          112 West 8th Ave. Suite 1000
          Amarillo, TX 79101-2314
          Tel: (806) 373-1515
          Fax: (806) 379-7176
          Email: joe@lovell-law.net
                 john@lovell-law.net
                 deborah@lovell-law.net

Paul King is represented by:

          Robert L. Templeton, Esq.
          TEMPLETON SMITHEE HAYES HEINRICH & RUSSE
          320 South Polk, Suite 1000-L.B. 5
          Amarillo, TX 79101
          Tel: (806) 324-0324
          Fax: (806) 379-8568
          Email: robert@templetonsmithee.com
          
David N. Miller is represented by:

          Robert Andrew Aycock, Esq.
          FIELD, MANNING, STONE, HAWTHORNE ET AL
          2112 Indiana Ave.
          Lubbock, TX 79410
          Tel: (806) 792-0810
          Fax: (806) 792-9148
          Email: aaycock@lubbocklawfirm.com

American Housing Foundation is represented by:

          Marcus Alan Helt, Esq.
          Stephen A. McCartin, Esq.
          GARDERE WYNNE SEWELL LLP
          3000 Thanksgiving Tower
          1601 Elm Street
          Dallas, TX 75201
          Tel: (214) 999-3000
          Fax: (214) 999-4667
          Email: mhelt@gardere.com
                 smccartin@gardere.com

            -- and --

          Lee S. Raphael, Esq.
          20750 Ventura Blvd Suite 100
          Woodland Hills CA 91364
          Tel: (818) 227-0100
          Fax: (818) 227-0637

            -- and --

          Charles G. White, Esq.
          CHARLES GARRIE WHITE
          Amarillo, TX
          Tel: (806) 372-5700
          Fax: (806) 342-0705

            -- and --

          Robert Yaquinto, Jr., Esq.
          SHERMAN & YAQUINTO, LLP
          509 N Montclair Ave
          Dallas, TX 75208-5498
          Tel: (214) 942-5502

Walter Ocheskey is represented by:

          Mo Alturk, Esq.
          Steven C. Lockhart, Esq.
          Benjamin H. Price, Esq.
          Daniel C. Scott, Esq.
          Rachael L. Smiley, Esq.
          GARDERE WYNNE SEWELL, LLP
          3000 Thanksgiving Tower
          1601 Elm Street
          Dallas, TX 75201
          Tel: (214) 999-3000
          Fax: (214) 999-4667
          Email: slockhart@gardere.com
                               
            -- and --

          Joseph F Postnikoff, Esq.
          GOODRICH POSTNIKOFF & ASSOCIATES, LLP
          801 Cherry Street Suite 1010
          Fort Worth, TX 76102-5360
          Tel: (817) 335-9400
          Fax: (817) 335-9411
          Email: jpostnikoff@gpalaw.com

            -- and --

          Max Ralph Tarbox, Esq.
          TARBOX LAW, P.C.
          2301 Broadway
          Lubbock, Texas 79401
          Tel: (806) 686-4448
          Email: max@tarboxlaw.com

United States Trustee is represented by:

          Mary Frances Durham, Esq.
          OFFICE OF THE UNITED STATES TRUSTEE
          Earle Cabell Federal Building
          1100 Commerce Street, Room 976
          Dallas, TX 75242
          Tel: (214) 767-8967
          Fax: (214) 767-8971

            -- and --

          Richard Biggs, Esq.
          David C. Mullin, Esq.
          MULLIN, HOARD & BROWN, LLP
          Mullin Hoard & Brown, LLP
          Amarillo National Plaza Two Suite 800
          500 South Taylor, Lobby Box #213
          Amarillo, TX 79101-2445
          Tel: (806) 372-5050
          Fax: (806) 372-5086
          Email: wbiggs@mhba.com
                 dmullin@mhba.com

            -- and --
                                        
          Lawrence M. Doss, Esq.
          MULLIN, HOARD & BROWN
          Wells Fargo Center
          1500 Broadway Suite 700
          Lubbock, TX 79401
          Tel: (806) 765-7491
          Fax: (806) 765-0553
          Email: ldoss@mhba.com

             About American Housing Foundation

Founded as a Texas 501(c)(3) non-profit corporation in 1989,
American Housing Foundation owned and operated more than 12,500
residential units, making AHF one of the nation's largest entities
primarily dedicated to the workforce housing market.  Residents in
AHF properties benefit from significantly below market rental
rates.

Nine alleged creditors of American Housing Foundation filed an
involuntary Chapter 11 petition against AHF (Bankr. N.D. Tex. Case
No. 09-20232) on April 21, 2009.  The petitioning creditors were
represented by David R. Langston, Esq., at Mullin, Hoard & Brown,
in Lubbock, Texas.  Robert L. Templeton, who asserted a $5.1
million claim on account of an investment, had the largest claim
among the petitioners.

AHF opposed the involuntary.  On June 11, 2009, AHF filed a
voluntary petition  (Bankr. N.D. Tex. Case No. 09-20373) to avoid
potential issues associated with a non-profit entity consenting to
relief in the involuntary action.  Judge Robert L. Jones handled
the case.  Robert Yaquinto, Jr., Esq., at Sherman & Yaquinto, LLP,
represented AHF in its restructuring efforts.  At the time of the
filing, AHF estimated it had assets and debts of $100 million to
$500 million.  Walter O'Cheskey was later appointed as Chapter 11
trustee.  Focus Management Group served as advisor to the trustee.

AHF Development, Ltd., also filed for Chapter 11 bankruptcy
(Bankr. N.D. Tex. Case No. 09-20703) in 2009.  At the time of its
bankruptcy filing, Development had no ongoing business operations.
Several years prior, it served as a "qualified intermediary" for
"1031 exchanges" in connection with transactions with Matt Malouf,
who became a creditor in the case.

The bankruptcy court consolidated the two cases and appointed
Walter O'Cheskey as the Chapter 11 Trustee.  The Court entered its
Order Approving Appointment of Chapter 11 Trustee on April 29,
2010.

On December 7, 2010, the bankruptcy court approved the Second
Amended Joint Chapter 11 Plan filed by the Chapter 11 Trustee and
the Official Committee of Unsecured Creditors.  American Housing
Foundation emerged from bankruptcy protection that month.  The
Plan would pay creditors from the sale of AHF's apartment
communities.

Judge Jones dismissed the bankruptcy case of AHF Development, Ltd.,
in an Aug. 17, 2011 Memorandum Opinion, at the behest of the United
States Trustee and joined by Attebury Family Partnership, L.P. and
the 2001 Scott D. Rice Trust.


BION ENVIRONMENTAL: Incurs $833,000 Net Loss in First Quarter
-------------------------------------------------------------
Bion Environmental Technologies, Inc., filed with the Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss of $832,529 on $0 of revenue for the three
months ended Sept. 30, 2015, compared to a net loss of $705,758 on
$0 of revenue for the same period during the prior year.

As of Sept. 30, 2015, the Company had $2.22 million in total
assets, $13.3 million in total liabilities and a total deficit of
$11.08 million.

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

                        http://is.gd/qPyfsr

                     About Bion Environmental

Bion Environmental Technologies Inc.'s patented and proprietary
technology provides a comprehensive environmental solution to a
significant source of pollution in US agriculture, large scale
livestock facilities known as Confined Animal Feeding Operations.
Bion's technology produces substantial reductions of nutrient
releases (primarily nitrogen and phosphorus) to both water and air
(including ammonia, which is subsequently re-deposited to the
ground) from livestock waste streams based upon the Company's
operations and research to date (and third party peer review).

Bion Environmental reported a net loss of $5.6 million on $3,658 of
revenue for the year ended June 30, 2015, compared to a net loss of
$5.8 million on $5,931 of revenue for the year ended
June 30, 2014.

GHP Horwath, P.C., in Denver, Colorado, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2015, citing that the Company has not generated
significant revenue and has suffered recurring losses from
operations.  These factors raise substantial doubt about its
ability to continue as a going concern.


BLACK ELK ENERGY: Compromise on Replacement Bonds Wins Court Nod
----------------------------------------------------------------
Black Elk Energy Offshore Operations, LLC, won approval from the
U.S. Bankruptcy Court for the Southern District of Texas of an
amended compromise and settlement with Liberty Mutual Insurance
Company, Argonaut Insurance Company, TKN Petroleum Offshore LLC,
Platinum Partners Value Arbitrage Fund, LP, the Debtor's ad hoc
Noteholders, the Committee of Unsecured Creditors, Marubeni Oil &
Gas (USA) Inc., and Merit Energy Company.

The Compromise provides that Argo will file with the Bureau of
Ocean Energy Management ("BOEM") a replacement bond in the penal
sum o $700,000 for Liberty, and Merit will cause a surety to issue
replacement bonds for Liberty in the penal sum of $1,600,000 and
for Argo in the penal sums of $2,825,000, $4,350,000 and
$1,320,000.

Liberty will release $9,567,000 of the Liberty Cash Collateral as
follows: Liberty will remit (i) $5,142,000 to Argo to collateralize
all Argo/Black Elk Bonds and (ii) $4,425,000 to Merit to partially
collateralize the Merit Replacement Bonds.  The Debtor will also
receive these operating funds from the Liberty Cash Collateral: (i)
Upon cancellation of the bond in the penal amount of $700,000,
Liberty will release $805,000 to the Debtor, (ii) upon cancellation
of the Liberty bond in the penal amount of $1,600,000, Liberty will
release $1,600,000 to the Debtor.

Argo will direct $3,260,000 of the Argo Replacement Collateral as
follows: (i) $1,035,000 to Merit and (ii) $2,225,000 to the Debtor,
leaving $1,882,000 with Argo.

Merit will be granted a superpriority administrative claim to, and
secured and fully perfected replacement lien on the first $1.54
million of any and all bond collateral released by the sureties on
bond number K08025071 and K08025058.

TKN will pay all premiums presently due and owing associated with
the Argo/TKN Bonds, presently estimated to be $224,778 to Argo
representing the premium due for the seven Argo bonds purported to
be issued for the benefit of TKN.  The Debtor will pay all premiums
on these Liberty Bonds as such premiums come due: 022031460,
022031469, 022031471, 022031481 and 022031489.

                         Settlement Motion

As reported in the Oct. 12, 2015 edition of the TCR, the Debtor is
required by certain applicable statutes, rules, and regulations to
provide surety bonds to certain third parties to secure the
Debtor's payment or performance of certain obligations, including
plugging and abandonment obligations ("P&A Liability").

Prior to the Petition Date, Liberty issued various surety bonds on
behalf of the Debtor as consideration for the execution by the
Debtor, PPVA and other indemnitors ("Indemnitors") of certain
indemnification agreements in favor of Liberty ("Liberty Indemnity
Agreements") and the indemnification and other obligations of the
Indemnitors under the various surety bonds and the Liberty
Indemnity Agreements ("Indemnity Obligations").  The Indemnity
Obligations were secured by a $30 million letter of credit.  In
2013, at the request of the Debtor, Liberty liquidated the letter
of credit and retained the cash as collateral for the bonds
("Liberty Cash Collateral") pursuant to a Cash Pledge Agreement
dated Aug. 28, 2013.  Since that time, Liberty has released certain
amounts of the cash collateral and, pursuant to its rights under
the Liberty Indemnity Agreements and Cash Pledge Agreement, has
applied other amounts to payment of premiums and other charges,
leaving a balance of Liberty Cash Collateral at approximately $19.8
million.

Some of the surety bonds that Liberty issued to the Debtor related
to six properties that are listed in the Purchase and Sale
Agreement dated January 9, 2015 ("TKN Sale Agreement").  The
Indemnity Obligations under those bonds are secured by the Liberty
Cash Collateral.  The terms of the TKN Sale Agreement provided that
TKN agreed to assume the Debtor's P&A Liability with respect to
those six properties.  The agreement further provided that TKN and
the Debtor agreed that subject to the security interest of Liberty
and to the extent the Liberty Cash Collateral was released by
Liberty, the cash collateral securing the surety bonds on those six
properties would be transferred to TKN or its designee to serve as
security for the replacement bonds.

In accordance with the TKN Sale Agreement, replacement bonds from
Argonaut were obtained to replace the six Liberty bonds listed in
the TKN Sale Agreement. $8.885 million of the Liberty Cash
Collateral was intended to ultimately be transferred to Argonaut to
serve as collateral for Argonaut bonds.  In addition, Argonaut
replaced three other Liberty bonds related to other properties of
the Debtor ("Argonaut Replacement Bonds").

In order for Liberty to release collateral associated with the
Argonaut Replacement Bonds, Liberty requested verification from the
Bureau of Ocean Energy Management (BOEM) that Argonaut indeed
replaced Liberty as a surety with respect to the Liberty bonds and
that Liberty had no further liability on certain other bonds issued
on behalf of the Debtor.  The involuntary bankruptcy filing
intervened prior to Liberty's determination as to the status of the
Liberty Bonds and prior to release of Liberty Cash Collateral.
Various parties have now asserted rights in the Liberty Cash
Collateral including Liberty, Argonaut, the Debtor, TKN and the
Indenture Trustee.

Liberty asserts that it has a right under the Cash Pledge Agreement
to retain the Liberty Cash Collateral until Liberty is relieved of
liability under all of the bonds issued by Liberty on behalf of the
Debtor.  However, at the Debtor's request, Liberty has agreed to
allow the Debtor to use a portion of the Liberty Cash Collateral
while retaining sufficient collateral to cover in full all of the
Indemnity Obligations, including, without limitation the penal
amount of the outstanding Liberty Bonds and any other surety loss
covered under the Indemnity Agreements.  As of Sept. 21, 2015, the
Liberty Cash Collateral consists of approximately $19.8 million.

The Debtor tells the Court that Liberty, Argonaut, TKN, and PPVA
have agreed to the Debtor's use of the Liberty Cash Collateral in a
manner that will satisfy the Debtor's collateral requirements for
surety bonds as well as providing the Debtor with necessary
operating funds.  The Debtor relates that the compromise
establishes a division of the Liberty Cash Collateral into three
buckets: (1) $7,600,000 will remain with Liberty; (2) $9,567,000
will be transferred to Argonaut; and (3) $2,633,000 will be
transferred to the Debtor.  The Debtor contends that without the
approval of the proposed compromise, the $2,633,000 will not be
immediately available to the estate, and Liberty would retain
collateral sufficient to satisfy any and all P&A obligations for
which it has provided surety until such obligations have been
fulfilled and Liberty has received related releases from the
applicable regulatory authorities.

                          About Black Elk

Black Elk Energy Offshore Operations, LLC, is a Houston, Texas
based privately held limited liability company engaged in the
acquisition, exploitation, development and production of oil and
natural gas properties primarily in the shallow waters of the Gulf
of Mexico near the coast of Louisiana and Texas.

Black Elk had total assets of $339.7 million and total debt of
$432.3 million as of Sept. 30, 2014.

Judge Letitia Z. Paul of the U.S. Bankruptcy Court in the Southern
District of Texas placed Black Elk under Chapter 11 bankruptcy
protection on Sept. 1, 2015, converting an involuntary Chapter 7
bankruptcy petition by its creditors.  Thereafter, the Company
filed with the Court a voluntary Chapter 11 petition (Bankr. S.D.
Tex. Case No. 15-34287) on Sept. 10, 2015.  

Judge Paul later recused herself from the case and the matter was
given to Judge Marvin Isgur, according to information posted on
the
case docket on Sept. 14.

The Debtor is represented by Elizabeth E. Green of Baker &
Hostetler.  Blackhill Partners' Jeff Jones is the Debtor's Chief
Restructuring Officer.



BLACK ELK ENERGY: Donation Agreement with Louisiana State Approved
------------------------------------------------------------------
Black Elk Energy Offshore Operations, LLC, won approval from the
U.S. Bankruptcy Court for the Southern District of Texas to enter
into a donation agreement with the state of Louisiana, through the
Louisiana Department of Wildlife and Fisheries Conservation Fund.

The Court's Order provides that the Debtor is authorized to enter
into the Donation Agreement with such non-material modifications as
the Debtor deems appropriate.   The Debtor's transfer of the Eugene
Island Platform to the Louisiana Department of Wildlife in
accordance with the Donation Agreement will be free and clear of
all liens, claims and encumbrances of any kind.

The Order is effective upon entry; provided, that any holder of a
lien on the Eugene Island Platform may file an emergency motion
stating that the holder asserts that its lien has affirmative net
value, and that the lien holder unconditionally accepts the Eugene
Island Platform as is, where is, and subject to all of the laws and
regulations of the United States.  If such a pleading is filed, (i)
the Court will conduct an emergency hearing at which it will, in
all likelihood, transfer title to the Eugene Island Platform to the
party filing the motion, which title and transfer will require the
lien holder to accept the platform as is, where is, and subject to
all laws and regulations of the United States, and (ii) any
party-in-interest may oppose such relief.  If such a motion is
filed, no person is authorized to continue the implementation of
the Order; provided that JAB will be allowed to continue to
implement the order if it has already commenced towing the platform
to the reed.  Lien holders are advised that a pleading must be
filed immediately, as the Order may be consummated in short order.

JAB is not authorized to implement the Order unless it has obtained
all required approvals from the Army Corps of Engineers and the
Bureau of Safety and Environmental Enforcement.

The cash donation to be made pursuant to the Donation Agreement
will not be charged to the Debtor or the estate.

                        Donation Agreement

As reported in the Oct. 27, 2015 edition of the TCR, the Debtor's
current operations are limited to four operating platforms and 16
platforms that are in the process of being decommissioned ("P&A
Wells").  One of the Debtor's P&A Wells is located on the Eugene
Island 240 A 8-Pile Jacket ("Eugene Island Platform").  The
Debtor's P&A obligations relating to the Eugene Island Platform
include the requirement that the Debtor remove and dispose of the
Eugene Island Platform in accordance with applicable regulations.

The Debtor relates that to dispose of the platform, it has two
options: (a) have JAB Energy Solutions II, LLC, which is
conducting
the P&A work, remove the platform and transport it back to shore
to
a smelting facility to be disposed of; or (b) donate the platform
to the Louisiana Department of Wildlife as an artificial reef
under
the terms of the Donation Agreement.

The Donation Agreement provides that the Debtor will submerge the
Eugene Island Platform at a specific location in the Gulf of
Mexico
so that the platform can be used as an artificial reef, and make a
cash donation to the Louisiana Artificial Reef Development Fund in
the amount of $153,200.  In exchange, the Louisiana Department of
Wildlife will accept ownership of the Eugene Island Platform. One
of the terms of the Donation Agreement requires the Debtor to
warrant that its "title to the Donated Structure is free and clear
of all encumbrances of any kind or description" ("Title
Warranty").

The Debtor has determined that it is in the best interest of the
estate and all parties-in-interest to donate the Eugene Island
Platform to the Louisiana Department of Wildlife because it will
save the Debtor a significant amount of money in removing and
disposing of the Eugene Island Platform.

The Debtor contends that it would have been authorized to enter
into the Donation Agreement pursuant to the Court's Order Granting
P&A Motion, where it not for the Title Warranty.  The Debtor
relates that certain parties have asserted liens or other
encumbrances against the Eugene Island Platform and because of
these liens, it is unable to make the Title Warranty and enter into
the Donation Agreement.  The Debtor tells the Court that without
the Court's intervention, the Debtor will be forced to incur
significant transport costs or delay costs to satisfy its P&A Work
obligations relating to the Eugene Island Platform.

                  About Black Elk Energy Offshore

Black Elk Energy Offshore Operations, LLC, is a Houston, Texas
based privately held limited liability company engaged in the
acquisition, exploitation, development and production of oil and
natural gas properties primarily in the shallow waters of the Gulf
of Mexico near the coast of Louisiana and Texas.

Black Elk had total assets of $340 million and total debt of $432
million as of Sept. 30, 2014.

Judge Letitia Z. Paul of the U.S. Bankruptcy Court in the Southern
District of Texas placed Black Elk under Chapter 11 bankruptcy
protection on Sept. 1, 2015, converting an involuntary Chapter 7
bankruptcy petition by its creditors.  Thereafter, the Company
filed with the Court a voluntary Chapter 11 petition (Bankr. S.D.
Tex. Case No. 15-34287) on Sept. 10, 2015.  

Judge Paul later recused herself from the case and the matter was
given to Judge Marvin Isgur, according to information posted on
the case docket on Sept. 14.

The Debtor is represented by Elizabeth E. Green of Baker &
Hostetler.  Blackhill Partners' Jeff Jones is the Debtor's Chief
Restructuring Officer.



BLACK HILLS: S&P Assigns 'BB+' Rating on Proposed $260MM Equity
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB+' rating to
Black Hills Corp.'s proposed offering of $260 million in equity
units.  The equity units consist of a purchase contract that
obligates the owner to purchase Black Hills' common stock on
Nov. 1, 2018, and a remarketable junior subordinated note due 2028.
Black Hills intends to use the proceeds to finance its proposed
acquisition of SourceGas Holdings LLC.

Under S&P's criteria, it notches the equity units two notches below
its 'BBB' issuer credit rating on Black Hills.  The rating applies
to the company's obligation to service the debt component, as well
as its obligation to issue common shares under the forward
contract.  It does not address the safety of principal or the
units' value.

The 'BBB' issuer credit rating on Black Hills reflects S&P's
assessment of its "excellent" business risk profile, based on its
lower-risk utility business, its market and regulatory diversity,
and the company's continued focus on its regulated strategy, offset
by widely dispersed operations and numerous regulatory
jurisdictions require diligent filing for rate recovery.  S&P
assess its financial risk profile as "significant," with funds from
operations (FFO) to debt of about 14% to 17% over the next few
years.  The 'BBB' rating also reflects S&P's negative financial
policy modifier and negative comparable rating analysis modifier.

RATINGS LIST

Black Hills Corp.
Corporate Credit Rating        BBB/Stable/--

New Rating

Black Hills Corp.
Junior Subordinated
  $260 Mil. Equity Units        BB+



BLACKHAWK MINING: S&P Withdraws 'B' CCR at Company's Request
------------------------------------------------------------
Standard & Poor's Rating Services said that it withdrew its ratings
on Blackhawk Mining LLC, including the 'B' corporate credit rating
and the 'B' first-lien term loan issue-level rating.

Prior to being withdrawn, Blackhawk's rating reflected S&P's view
of the company's business risk as "vulnerable," its financial risk
as "aggressive," and its liquidity as "adequate".  However,
Blackhawk did not complete the refinancing contemplated in S&P's
initial rating assignment, which included a new $300 million
first-lien term loan due 2020.  Blackhawk is privately held.  S&P
has no new operating or financial information on the company to
consider before withdrawing its rating.



BLUEHIPPO FUNDING: FTC Entitled to Presumption of Consumer Reliance
-------------------------------------------------------------------
On July 27, 2010, the United States District Court for the Southern
District of New York issued an order granting in part Federal Trade
Commission's motion for contempt related to violations of a
Stipulated Final Judgment and Order of Permanent Injunction by
BlueHippo Funding, LLC and BlueHippo Capital, LLC, and Joseph K.
Rensin, BlueHippo's chief executive officer.

The FTC appealed the damages portion of that order as to material
omissions regarding BlueHippo's store credit and refund policy.  On
August 14, 2014, the United States Court of Appeals for the Second
Circuit vacated the damages portion of the order and remanded to
the District Court to determine if a presumption of consumer
reliance applies to the facts of the case and for reconsideration
of damages.

In an Opinion and Order dated November 6, 2015 which is available
at http://is.gd/bh7Arwfrom Leagle.com, Judge Paul A. Crotty of the
United States District Court for the Southern District of New York
held that the FTC has established that it is entitled to a
presumption of consumer reliance.  Accordingly, Judge Crotty
directed the Defendants to proffer the evidence they intend to
offer, if any, to offset the compensatory baseline of gross
receipts.

The case is FEDERAL TRADE COMMISSION, Plaintiff, v. BLUEHIPPO
FUNDING, LLC, et al., Defendants, NO. 08 CIV. 1819 (PAC).

Joseph K Rensin, Miscellaneous, represented by Arthur Paul Pineau,
Esq. -- apineau@zuckerman.com -- Zuckerman Spaeder LLP, Elizabeth G
Taylor, Esq. -- etaylor@zuckerman.com -- Zuckerman Spaeder LLP,
Martin Stanley Himeles, JR., Esq. -- mhimeles@zuckerman.com --
Zuckerman Spaeder LLP, Shawn Patrick Naunton, Esq. --
snaunton@zuckerman.com -- Zuckerman, Spaeder LLP & John J Connolly,
Esq. -- jconnolly@zuckerman.com -- Zuckerman Spaeder LLP.

                      About Bluehippo

BlueHippo sells computers and plasma TVs nationwide to people
without access to traditional credit.  Consumers pay through
electronic debits to their bank accounts over one year.  They
were promised the merchandise after completing three months'
payments worth hundreds of dollars.  But early on, consumers
complain, the company reneged on the promise.

In March 2006, two Californians filed a class suit against
Maryland-based BlueHippo Funding LLC alleging they didn't get
their computers and weren't able to get refunds.


BOWERS INVESTMENT: Case Summary & 12 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Bowers Investment Company, LLC
        2333 Van Horn Rd.
        Fairbanks, AK 99701

Case No.: 15-00395

Chapter 11 Petition Date: November 17, 2015

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

Judge: Hon. Gary Spraker

Debtor's Counsel: D. Randall Ensminger, Esq.
                  ENSMINGER LAW OFFICES, P.C.
                  424 Lincoln Blvd, Suite 201
                  Lincoln, CA 95648
                  Tel: (916)434-0220
                  Fax: (916)434-2530
                  Email: randall@ensmingerlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jerry Bowers, owner/operator.

A list of the Debtor's 12 largest unsecured creditors is available
for free at http://bankrupt.com/misc/akb15-00395.pdf


BOX SHIPS: NYSE Opts to Delist Common & Preferred Stock
-------------------------------------------------------
Box Ships Inc. on Nov. 17 disclosed that the New York Stock
Exchange, or the NYSE, has notified the Company that the NYSE
intends to apply to the Securities and Exchange Commission to
delist the common stock of the Company, trading under the ticker
TEU, from the NYSE.  The Company's preferred stock trading under
the ticker TEU PR C will also be delisted from the NYSE.  The NYSE
also informed the Company that trading in the Company's common
stock and preferred stock has been suspended following the close of
business on November 17, 2015.  The NYSE reached its decision to
delist the Company's common stock and preferred stock pursuant to
Section 802.01B of the NYSE's Listed Company Manual because the
Company fell below the NYSE's continued listing standard requiring
listed companies to maintain an average global market
capitalization over a consecutive 30 trading-day period of at least
$15,000,000.

The Company will continue to file periodic and other reports with
the Securities and Exchange Commission pursuant to the Exchange Act
of 1934, as amended, and other federal securities laws.

The Company has commenced proceedings to have its common stock
trade on the OTCQX Best Market, the highest tier of the U.S.
over-the-counter market.  The trading of the Company's common stock
is expected to commence on OTCQX on November 18, 2015.

In addition, the Company has applied to transfer the listing of its
securities to the Nasdaq Capital Market upon satisfaction of the
relevant listing requirements, including maintaining a minimum bid
price for the Company's common shares.  Subject to the approval of
the Company's shareholders, the Company intends to effect a reverse
stock split in order to satisfy the minimum bid price requirement
of the Nasdaq Capital Market.

                     About Box Ships Inc.

Box Ships Inc. -- http://www.box-ships.com-- is an Athens,
Greece-based international shipping company specializing in the
transportation of containers.  The Company's current fleet consists
of nine containerships with a total carrying capacity of 43,925 TEU
and a TEU weighted average age of 10.8 years.


BROOKE CORP: Kutak Rock Settles Malpractice Suit for $17.7M
-----------------------------------------------------------
Dani Meyer at Bankruptcy Law360 reported that the trustee for
Brooke Corp. asked a Kansas bankruptcy judge on Nov. 9, 2015, to
approve a $17.7 million settlement resolving his malpractice suit
accusing Kutak Rock LLP of helping the insurance holding company's
executives mislead investors about its financial problems.

Trustee Christopher J. Redmond said Kutak has agreed to pay
$17.5 million to resolve the malpractice and aiding and abetting
claims well as approximately $200,000 for the preference claim,
though Kutak has expressly denied Redmond's allegations and
indicated it is only agreeing to the settlement.

                       About Brooke Corp.

Based in Kansas, Brooke Corp. -- http://www.brookebanker.com/--   


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

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

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

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







BROOKLYN RENAISSANCE: 555-557 Union Up for Sale, 2 Others Deferred
------------------------------------------------------------------
Brooklyn Renaissance, LLC, has obtained approval from the U.S.
Bankruptcy Court for the Eastern District of New York of bidding
procedures to govern the sale of certain real property located at
84 Clinton Avenue, Brooklyn, NY, 300 Van Brunt Street, Brooklyn, NY
and 555-557 Union Street, Brooklyn, NY ("555-557 Union").

The Debtor has signed deals to sell the properties to three
different buyers, absent higher and better offers:

  (a) A Purchase and Sale Agreement with MGJR Nominee LLC, dated
August 10, 2015, for the purchase of real property located at 84
Clinton Avenue, Brooklyn, New York 11205, for $2,500,000.

  (b) A Purchase and Sale Agreement The Other Half LLC, dated Aug.
8, 2015, for the purchase of the real property located at 300 Van
Brunt Street, Brooklyn, New York 11231, for $1,800,000; and

  (c) A Purchase and Sale Agreement with JJC Real Estate LLC, dated
Aug. 30, 2015, for the purchase of the real property located at
555-557 Union Street, Brooklyn, New York 11215, for $3,800,000.

Judge Carla E. Craig, however, in his Oct. 30, 2015 order, approved
the proposed bidding procedures for the 555-557 Union properties.
The judge adjourned the hearing with respect to the 84 Clinton and
300 VB properties until Nov. 18, 2015 at 3:00 p.m.

The order approving the 555-557 Union bid procedures provide:

   -- The deadline for submitting bids to become a qualified bidder
is Nov. 17, 2015, at 10:00 a.m.

   -- The stalking horse bidder, JJC Real Estate, will be deemed a
qualified bidder.

   -- If qualified bids are received (other than JJC's), the Debtor
will conduct an auction before a Court reporter commencing on Nov.
17, 2015 at 11:00 a.m.

   -- The Debtor will designate the successful bidder and back-up
bidder at the conclusion of the auction.

   -- If no qualified bid, other than the qualified bid of JJC, is
timely received, the Debtor may exercise its right to cancel the
Auction, and is authorized to proceed to seek approval of JJC's
qualified bid at the sale hearing;

   -- The break-up fee due JJC under the APA is approved.

   -- Objections to the relief to be considered at the sale hearing
will be filed no later than seven days prior to the sale hearing
before 5:00 p.m. (EST) with the Bankruptcy Court.

   -- A sale hearing was slated before an Honorable Carla E. Craig,
United States Bankruptcy Judge, at the United States Bankruptcy
Courthouse, 271-C Cadman Plaza East, Brooklyn, New York 11201,
Courtroom 3529 on Nov. 18, 2015 at 3:00 p.m., to confirm the
results of the auction, authorize the sale of 555-557 Union
Street.

The Debtor has agreed to pay a break-up fee of $54,000 to JJC in
the event it sells 555-557 Union Street to another party.

                        Objections Filed

Maspeth Federal Savings and Loan Association filed an objection to
the sale of the 84 Clinton and the 557 Union properties, which are
allegedly encumbered by first position mortgages held by Maspeth.
Maspeth says it objects to the sale because the Debtor has failed
to demonstrate that it owns or has an equitable interest in the
properties to allow Debtor to sell the properties and thus to
compel Maspeth to accept a money satisfaction of its interest.  

Maspeth argued that the sale order should not become yet another
tool of James McGown McGown to frustrate its enforcement of its
rights and remedies.  According to Maspeth:

  -- Maspeth obtained a judgment of foreclosure and sale on Sept.
2, 2014 for the 84 Clinton property in a foreclosure action in New
York State Supreme Court, Kings County.  During the pendency of the
foreclosure action, on March 29, 2011, Debtor's principal, James
McGown, deeded the 84 Clinton Property to Brooklyn Theatrical Corp.
(an affiliate of debtor and owned, operated and controlled by James
McGown) and an individual, PJ McGown, who Debtor and James McGown
now represent to this court is the minor child of James McGown.  On
May 13, 2015, Maspeth filed a fraudulent conveyance action in New
York State Supreme Court, Kings County against James McGown,
Brooklyn Theatrical and PJ McGown concerning the 84 Clinton
property.  That fraudulent conveyance action has been removed to
the Bankruptcy Court and is currently pending under Adversary
Proceeding No. 15-01131-CEC.  

  -- The 557 Union Property is the subject of a pending foreclosure
action in New York State Supreme Court.  Since Maspeth's loan to
Debtor on or about Sept. 22, 2005, 557 Union has been transferred
by two no-consideration deeds to entities owned, operated or
controlled by James McGown.

FIA 555 Union Holdings, LLC, the assignee of a mortgage and note
from LZG Realty against the 555 Union Street property, said that
the Sale Motion was deficient because, among other things, the
contract of sale for the 555 Property, which also includes the
property located at 557 Union Street was for a single purchase
price of $3.8 million, with no allocation of the proceeds that
would enable creditors to understand if there are sufficient
proceeds to satisfy claims regarding each respective property;

To address FIA's concerns with respect to the allocation of
proceeds, the Court's order approving the bid procedures provide
that:

   -- The APA providing for the sale of 555-557 Union Street is
deemed supplemented to provide that the purchase price therein will
be allocated $1.9 million dollars for 555 Union Street and $1.9
million dollars for 557 Union Street.

   -- In the event that the successful bid for the property is
greater than the initial bid of JJC, the purchase price will be
allocated 50% between 555 Union Street and 557 Union Street.

The Court entered a separate order that addresses Maspeth's and
FIA's requests for adequate protection payments.

Brooklyn Renaissance is represented by:

          Jonathan S. Pasternak, Esq.
          Erica Feynman Aisner, Esq.
          DELBELLO DONNELLAN WEINGARTEN
          WISE & WIEDERKEHR LLP
          One North Lexington Avenue
          White Plains, NY 10601
          Telephone: (914)681-0200

Maspeth is represented by:

          Mark L. Cortegiano, Esq.
          65-12 69th Place
          Middle Village, NY 11379
          Tel: (718) 894-9500
          E-mail: mark@cortegianolaw.com

FIA 555 Union Holdings is represented by:

          GENOVESE & GLUCK P.C.
          A. Mitchell Greene, Esq.
          875 Third Avenue
          New York, NY 10022
          Tel: 212-603-6300

                    About Brooklyn Renaissance

Brooklyn Renaissance, LLC, which manages various parcels of real
property located in Kings, New York and Suffolk County, New York,
sought Chapter 11 bankruptcy protection (Bankr. E.D.N.Y. Case No.
15-43122) on July 6, 2015 in Brooklyn.  James McGown, the managing
member, signed the petition.  The case is assigned to Judge Nancy
Hershey Lord.

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

The Debtor tapped Jonathan S. Pasternak, Esq., at DelBello
Donnellan Weingarten Wise & Wiederkehr, LLP, in White Plains, New
York, as counsel.  


BROOKLYN RENAISSANCE: Must Pay Adequate Protection to Secureds
--------------------------------------------------------------
Judge Carla E. Craig has entered an order compelling Brooklyn
Renaissance, LLC, to submit certain filings and restricting the
Debtor's use of funds in its debtor in possession bank account.

On Sept. 29, 2015, the Debtor made a motion  to sell certain of the
Properties located in Brooklyn, New York, specifically the
Properties located at 84 Clinton Avenue, 300 Van Brunt Street, and
555-557 Union Street.

Secured creditors Maspeth Federal Savings and Loan Association and
FIA 555 Union Holdings, LLC filed objections to the Sale Motion.

On Oct. 21, 2015, a hearing was held on the Sale Motion and the
Objections.

At the Oct. 21 hearing, the Court granted the Sale Motion with
respect to 555-557 Union Street properties, and scheduled an
auction for the sale of the 555-557 Union Street properties on Nov.
17, 2015.

A hearing was scheduled for Nov. 18, 2015 to approve the sale of
the Properties located at 555-557 Union Street.

The Sale Motion was adjourned to Nov. 18, 2015 with respect to the
84 Clinton and 300 VB properties.

For the reasons stated on the record at the Hearing, the bankruptcy
judge on Oct. 23 ordered that:

  -- The Debtor will file all monthly operating reports due from
the beginning of the case by Nov. 5, 2015;

  -- James McGown will file an affidavit with the Court setting
forth the information for the Debtor's affiliate, Brooklyn
Theatrical Corp., that would be required in schedules and
statements of financial affairs as set forth in Official Bankruptcy
Forms B6 and B7 by Nov. 5, 2015; and

  -- The Debtor will begin making adequate protection payments to
all secured creditors on the Properties that are not subjects of
the Sale Motion in amounts equal to the regularly scheduled
mortgage payments at the pre-default interest rate.

  -- No rents or other income of any Property will be used to make
any payment other than for operating expenses or adequate
protection payments with respect to such Property, except upon
order of the Court.

  -- No payments will be made by the Debtor to (1) James McGown,
(2) any of his relatives, (3) any insider of the Debtor, (4) any
affiliate of the Debtor, or (5) any insider of any affiliate of the
Debtor except upon order of the Court; and it is further

  -- No cash withdrawals shall be made from the DIP Account except
upon order of the Court.

  -- No other expenditures will be made from the DIP Account except
upon order of the Court.

  -- Failure to comply with the order may be grounds for dismissal
or conversion of the case.

                    About Brooklyn Renaissance

Brooklyn Renaissance, LLC, which manages various parcels of real
property located in Kings, New York and Suffolk County, New York,
sought Chapter 11 bankruptcy protection (Bankr. E.D.N.Y. Case No.
15-43122) on July 6, 2015 in Brooklyn.  James McGown, the managing
member, signed the petition.  The case is assigned to Judge Nancy
Hershey Lord.  

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

The Debtor tapped Jonathan S. Pasternak, Esq., at DelBello
Donnellan Weingarten Wise & Wiederkehr, LLP, in White Plains, New
York, as counsel.


BROOKLYN RENAISSANCE: Salzano Bid for Stay Relief Denied
--------------------------------------------------------
Judge Carla E. Craig has denied approval to a motion dated July 14,
2015  filed by Anthony Salzano for an order pursuant to 11 U.S.C.
Section 362(d) lifting the automatic stay to permit Salzano to
pursue a Sheriff's sale against certain real property owned by
Brooklyn Renaissance LLC located at 555 Union Street, Brooklyn, New
York.  A hearing on the motion was held Oct. 21.

                    About Brooklyn Renaissance

Brooklyn Renaissance, LLC, which manages various parcels of real
property located in Kings, New York and Suffolk County, New York,
sought Chapter 11 bankruptcy protection (Bankr. E.D.N.Y. Case No.
15-43122) on July 6, 2015 in Brooklyn.  James McGown, the managing
member, signed the petition.  The case is assigned to Judge Nancy
Hershey Lord.  

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

The Debtor tapped Jonathan S. Pasternak, Esq., at DelBello
Donnellan Weingarten Wise & Wiederkehr, LLP, in White Plains, New
York, as counsel.


C&J ENERGY: S&P Lowers CCR to 'B-', Outlook Negative
----------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Houston-based oilfield services provider C&J Energy
Services Ltd. to 'B-' from 'B+'.  The outlook is negative.

At the same time, S&P lowered its ratings on the company's revolver
and term loans to 'B' (one notch above the corporate credit rating)
from 'BB'.  S&P revised the recovery rating on the company's
revolver and term loans to '2' from '1', indicating its expectation
of substantial (70% to 90%, high end of the range) recovery in the
event of a payment default.

The downgrade on C&J Energy Services Ltd. (CJES) reflects S&P's
assessment of the company's significantly increased leverage, which
S&P now views as "highly leveraged," per S&P's criteria.
Utilization and pricing for the company's completion services has
weakened materially in 2015, due to the significant drop in crude
oil and natural gas prices and the decline in drilling and
completion activity, and S&P expects market conditions to continue
to be very weak in 2016.  As a result, S&P expects the company's
credit measures to be elevated in 2016, with funds from operations
(FFO) to debt of about 4% and debt to EBITDA about 10x by year-end.
However, S&P do expect that operating performance and credit
measures will improve modestly in 2017, as oil prices and drilling
activity recover.

The ratings on CJES reflect S&P's assessment of its "weak" business
risk, "highly leveraged" financial risk, and "adequate" liquidity,
as defined in S&P's criteria.

"The negative outlook reflects our expectation that operating
performance and credit measures will remain weak through at least
2016," said Standard & Poor's credit analyst Stephen Scovotti.  "We
expect FFO to debt to be about 4% and debt to EBITDA of about 10X
in 2016," said Mr. Scovotti.

S&P could lower the ratings if FFO to debt remained well below 12%
for a sustained period, such that it viewed leverage as
unsustainable, or if it viewed liquidity as "less than adequate."
This scenario could occur if operating performance is weaker than
S&P's current expectations in 2016 or the company is unable to meet
its minimum EBITDA covenant.

S&P could revise the outlook to stable if industry conditions
improved, such that S&P expects credit measures to modestly improve
and the company were to maintain "adequate" liquidity.



CAESARS ENTERTAINMENT: Bids to Enforce Stay Against NRF Denied
--------------------------------------------------------------
Caesars Entertainment Operating Co., Inc., and some of its
subsidiaries filed motions to enforce the automatic stay against
the Board of Trustees of the National Retirement Fund and the
National Retirement Fund itself.

The NRF is a pension fund that sponsors a plan in which five
Caesars companies were participating employers.  The first motion
asserts the NRF violated the stay when it expelled the five Caesars
employers from the plan.  The second motion charges the NRF with
violating the stay again when it sent two other Caesars companies a
notice and demand for payment of the withdrawal liability.  The
Debtors want both the expulsion and the notice and payment demand
declared void.

In a Memorandum Opinion dated November 12, 2015, which is available
at http://is.gd/QuwQJefrom Leagle.com, Judge A. Benjamin Goldgar
of the United States Bankruptcy Court for the Northern District of
Illinois, Eastern Division, denied the motions.

The case is In re: CAESARS ENTERTAINMENT OPERATING CO., INC., et
al., Chapter 11, Debtors, NO. 15 B 1145 (JOINTLY
ADMINISTERED)(Bankr. N.D. Ill.).

Caesars Entertainment Operating Company, Inc., Debtor, represented
by Judson Brown, Esq. -- judson.brown@kirkland.com -- KIRKLAND &
ELLIS LLP, Marc J. Carmel, Esq. -- marccarmel@paulhastings.com --
PAUL HASTINGS, Ryan Dahl, Esq. -- ryan.dahl@kirkland.com --
KIRKLAND & ELLIS LLP, Chris L. Dickerson, Esq. -- DLA PIPER LLP
(US), Gregg Galardi, Esq. -- DLA PIPER LLP (US), Nicole Greenblatt,
Esq. -- nicole.greenblatt@kirkland.com -- KIRKLAND & ELLIS LLP,
Stephen C Hackney, Esq. -- stephen.hackney@kirkland.com -- KIRKLAND
& ELLIS LLP, Jeffrey Pawlitz, Esq. -- jeffrey.pawlitz@kirkland.com
-- KIRKLAND & ELLIS LLP, David Richard Seligman, Esq. --
david.seligman@kirkland.com -- KIRKLAND & ELLIS LLP, Jeffrey J.
Zeiger, Esq. -- jeffrey.zeiger@kirkland.com -- KIRKLAND & ELLIS
LLP, David J. Zott, Esq. -- david.zott@kirkland.com -- KIRKLAND &
ELLIS LLP.

The Statutory Unsecured Claimholders' Committee of Caesars
Entertainment Operating Company, Inc., et al, The Statutory
Unsecured Claimholders' Committee of Caesars Entertainment
Operating Company, Inc., et al, Creditor Committee, represented by
Philip Abelson, Esq. -- pabelson@proskauer.com -- Proskauer Rose
LLP, Martin J. Bienenstock, Esq. -- mbienenstock@proskauer.com
--Proskauer Rose LLP, Robert J. Cleary, Esq. --
rclearly@proskauer.com --Proskauer Rose LLP, Mark E. Davidson, Esq.
-- mdavidson@proskauer.com -- Proskauer Rose LLP, Scott A. Eggers,
Esq. -- seggers@proskauer.com -- Proskauer Rose LLP, Vincent
Indelicato, Esq. -- vindelicato@proskauer.com -- Proskauer Rose
LLP, Brandon Levitan, Esq. -- blevitan@proskauer.com -- Proskauer
Rose LLP, Judy G.Z. Liu, Esq. -- jliu@proskauer.com -- Proskauer
Rose LLP, Jeff J. Marwil, Esq. -- jmarwil@proskauer.com --Proskauer
Rose LLP, Paul V. Possinger, Esq. -- ppossinger@proskauer.com
--Proskauer Rose LLP, Geoffrey T. Raicht, Esq. --
graicht@proskauer.com -- Proskauer Rose LLP, Mark K. Thomas, Esq.
-- mthomas@proskauer.com -- Proskauer Rose, LLP, Marissa Tillem,
Esq. -- mtillem@proskauer.com -- Proskauer Rose LLP, Andrew S.
Wellin, Esq. -- awellin@proskauer.com -- Proskauer Rose LLP.

                  About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.,
is one of the world's largest casino companies.  Caesars casino
resorts operate under the Caesars, Bally's, Flamingo, Grand
Casinos, Hilton and Paris brand names.  The Company has its
corporate headquarters in Las Vegas.  Harrah's announced its
re-branding to Caesar's in mid-November 2010.

In January 2015, Caesars Entertainment and subsidiary Caesars
Entertainment Operating Company, Inc., announced that holders of
more than 60% of claims in respect of CEOC's 11.25% senior secured
notes due 2017, CEOC's 8.5% senior secured notes due 2020 and
CEOC's 9% senior secured notes due 2020 have signed the Amended
and Restated Restructuring Support and Forbearance Agreement,
dated
as of Dec. 31, 2014, among Caesars Entertainment, CEOC and the
Consenting Creditors.  As a result, The RSA became effective
pursuant to its terms as of Jan. 9, 2015.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10% second lien notes in the company, filed an involuntary
Chapter 11 bankruptcy petition against CEOC (Bankr. D. Del. Case
No. 15-10047) on Jan. 12, 2015.  The bondholders are represented
by Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor
LLP.

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill.  Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

Delaware Bankruptcy Judge Kevin Gross entered a ruling that the
bankruptcy proceedings will proceed in the U.S. Bankruptcy Court
for the Northern District of Illinois.

Kirkland & Ellis serves as the Debtors' counsel.  AlixPartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.

The U.S. Trustee has appointed seven noteholders to serve in the
Official Committee of Second Priority Noteholders and nine members
to serve in the Official Unsecured Creditors' Committee.

The U.S. Trustee appointed Richard S. Davis as Chapter 11
examiner.

On Feb. 5, 2015, U.S. Trustee Patrick Layng appointed nine
creditors to the Debtors' official committee of unsecured
creditors.  Two of these creditors -- the Board of Levee
Commissioners for the Yazoo Mississippi Delta and MeehanCombs
Global Credit Opportunities Master Fund LP -- resigned from the
committee following their appointment.  They were replaced by the
National Retirement Fund and Relative Value-Long/Short Debt, a
Series of Underlying Funds Trust.


CAESARS ENTERTAINMENT: Q3 Loss Largely From Unit's Bankruptcy Costs
-------------------------------------------------------------------
Kimberly Pierceall at The Associated Press stated that Caesars
Entertainment Corp. reported a loss of $791 million in its third
quarter largely due to costs associated with the restructuring of
its bankrupt subsidiary.

The company no longer includes its operating subsidiary in its
results after the unit filed for bankruptcy protection earlier this
year which makes it difficult to compare year-over-year
financials.

But Caesars has promised $966 million to the holders of first-lien
debt in the subsidiary Caesars Entertainment Operating Co. as part
of its restructuring plan, leading to $935 million worth of costs
in the third quarter.

Overall revenue for the casino company was up 12.4% compared to a
year ago, not counting its bankrupt subsidiary, to $1.14 billion,
and the company earned $139 million from operations.

It was the first full quarter for the company's new Horseshoe
Baltimore casino and a finished remodel at the Linq casino-hotel on
the Las Vegas Strip.

The company said it cut marketing costs and revived a plan to make
processes like laundry and housekeeping more efficient.

A copy of the report is availabe for free at http://is.gd/thRY5s

                   About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.,
is one of the world's largest casino companies.  Caesars casino
resorts operate under the Caesars, Bally's, Flamingo, Grand
Casinos, Hilton and Paris brand names.  The Company has its
corporate headquarters in Las Vegas.  Harrah's announced its
re-branding to Caesar's in mid-November 2010.

In January 2015, Caesars Entertainment and subsidiary Caesars
Entertainment Operating Company, Inc., announced that holders of
more than 60% of claims in respect of CEOC's 11.25% senior secured
notes due 2017, CEOC's 8.5% senior secured notes due 2020 and
CEOC's 9% senior secured notes due 2020 have signed the Amended
and Restated Restructuring Support and Forbearance Agreement,
dated
as
of Dec. 31, 2014, among Caesars Entertainment, CEOC and the
Consenting Creditors.  As a result, The RSA became effective
pursuant to its terms as of Jan. 9, 2015.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10% second lien notes in the company, filed an involuntary
Chapter 11 bankruptcy petition against CEOC (Bankr. D. Del. Case
No. 15-10047) on Jan. 12, 2015.  The bondholders are represented
by Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor
LLP.

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill.  Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

Delaware Bankruptcy Judge Kevin Gross entered a ruling that the
bankruptcy proceedings will proceed in the U.S. Bankruptcy Court
for the Northern District of Illinois.

Kirkland & Ellis serves as the Debtors' counsel.  AlixPartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.

The U.S. Trustee has appointed seven noteholders to serve in the
Official Committee of Second Priority Noteholders and nine members
to serve in the Official Unsecured Creditors' Committee.

The U.S. Trustee appointed Richard S. Davis as Chapter 11
examiner.

On February 5, 2015, U.S. Trustee Patrick Layng appointed nine
creditors to the Debtors' official committee of unsecured
creditors.  Two of these creditors -- the Board of Levee
Commissioners for the Yazoo Mississippi Delta and MeehanCombs
Global Credit Opportunities Master Fund LP -- resigned from the
committee following their appointment.  They were replaced by the
National Retirement Fund and Relative Value-Long/Short Debt, a
Series of Underlying Funds Trust.


CAL DIVE: Creditor Balks at Bid to Prioritize Injured Workers
-------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that a Cal Dive
International Inc. creditor that has provided maintenance services
to the bankrupt oil company's offshore rigs filed an objection on
Nov. 9, 2015, in Delaware challenging the Debtor's bid to pay,
before other creditors, hundreds of thousands of dollars to workers
who were injured while working on the vessels.

Gulf Copper & Manufacturing, which holds liens on several Cal Dive
rigs, argued in court papers that the Debtor's request to make
settlement payments to five employees who hold injury claims
against Cal Dive violates priority rules.

                         About Cal Dive

Houston, Texas-based marine contractor Cal Dive International,
Inc., provides manned diving, pipelay and pipe burial, platform
installation and salvage, and light well intervention services to
the offshore oil and natural gas industry on the Gulf of Mexico
OCS, Northeastern U.S., Latin America, Southeast Asia, China,
Australia, West Africa, the Middle East, and Europe.  Cal Dive and
its U.S. subsidiaries filed simultaneous voluntary petitions
(Bankr. D. Del. Lead Case No. 15-10458) on March 3, 2015.

Through the Chapter 11 process, the Company intends to sell non-
core assets and intends to reorganize or sell as a going concern
its core subsea contracting business.

Cal Dive disclosed total assets of $571 million and total debt of
$411 million as of Sept. 30, 2015.

The Debtors tapped Richards, Layton & Finger, P.A., as counsel,
O'Melveny & Myers LLP, as co-counsel; Jones Walker Jones Walker
LLP as corporate counsel; and Kurtzman Carson Consultants, LLC, as
claims and noticing agent.  The Debtors also tapped Carl Marks
Advisory Group LLC as crisis managers and appoint F. Duffield
Meyercord as chief restructuring officer.

The U.S. Trustee for Region 3 amended the committee of unsecured
creditors in the case from five-member committee to four members.
The Committee retained Akin Gump Strauss Hauer & Feld LLP and
Pepper Hamilton LLP as co-counsel; and Guggenheim Securities, LLC
as exclusive investment banker.

Cal Dive Offshore Contractors, Inc., disclosed total assets of
$233,273,806 and $311,339,932 in liabilities as of the Chapter 11
filing.


CALIFORNIA MIDAS: High Court Won't Hear $11.7M Alter-Ego Tax Case
-----------------------------------------------------------------
Hannah Sheehan at Bankruptcy Law360 reported that the U.S. Supreme
Court refused on Nov. 9, 2015, to review a ruling that held the
married former owners of several California Midas Inc. franchises
liable for an $11.7 million tax bill racked up through a former
employee's fraud by naming them as alter egos of their company.

The high court's decision leaves undisturbed a 2014 Ninth Circuit
ruling, which concluded that the Internal Revenue Service may
recover RAJMP Inc.'s debts from its former owners, Joan and Robert
Politte, because they had been able to borrow profits.


CHONG'S INC: Case Summary & 11 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Chong's Inc.
           dba China Grill
           dba Chong's Chinese Restaurant
        18415 Avalon Blvd.
        Carson, CA 90746

Case No.: 15-27627

Chapter 11 Petition Date: November 17, 2015

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

Judge: Hon. Sheri Bluebond

Debtor's Counsel: Anthony Obehi Egbase, Esq.
                  A.O.E LAW & ASSOCIATES
                  350 S Figueroa St Ste 189
                  Los Angeles, CA 90071
                  Tel: 213-620-7070
                  Fax: 213-620-1200
                  Email: info@anthonyegbaselaw.com

Total Assets: $105,661

Total Liabilities: $1.09 million

The petition was signed by Fernando Chong, president.

A list of the Debtor's 11 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb15-27627.pdf


COCO BEACH: Wigberto Lugo Mender Okayed as Legal Representative
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico
authorized Coco Beach Golf & Country Club Se to employ Wigberto
Lugo Mender, Esq., from Lugo Mender Group, LLC, as counsel.

On Oct. 22, 2015, Charles A. Cupprill-Hernandez, previous counselor
for the Debtor, resigned to the legal representation in the case.
Upon the resignation, the Debtor seek to employ the law firm of Mr.
Mender as its legal representative.

The Debtor agreed to compensate the firm according to its
personnel's hourly rates:

         Mr. Mender                            $300
         Associate and Staff Attorney          $175
         Legal and Financial Assistants        $100

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

                      About Coco Beach Golf

Coco Beach Golf & Country Club, S.E., is the owner of a first class
golf and country club in Rio Grande, Puerto Rico, currently
operating under the name of Trump International Golf Club Puerto
Rico.  Trump International Golf Club has two 18-hole golf courses
and country club facilities.

The Company sought Chapter 11 protection (Bankr. D.P.R. Case No.
15-05312) in Old San Juan, Puerto Rico, on July 13, 2015, and
immediately filed a motion seeking to sell most of the assets for
$2.04 million in cash to OHorizons Global, LLC, subject to higher
and better offers.


COLT DEFENSE: Cleared to Solicit Votes to Rework $250M Bond Debt
----------------------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that a Delaware
bankruptcy judge gave the nod on Nov. 10, 2015, to the Chapter 11
plan disclosure statement for Colt, allowing the iconic gunsmith to
solicit creditors on its strategy to rework some $250 million in
bond debt that is a broad peace accord in a case that had a
tumultuous start.

During a hearing in Wilmington, U.S. Bankruptcy Judge Laurie Selber
Silverstein said that the disclosure statement not only met the
Bankruptcy Code's requirements, but praised the sides for working
to the eleventh hour.

                      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 (Bankr. D. Conn.).  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.

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 $13.3
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.

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

                           *     *     *

Colt's equity sponsor, Sciens Capital Management, has agreed to act
as a stalking horse bidder in a proposed asset sale.  The Debtors
called off the bankruptcy auction after no potential buyers emerged
by an Oct. 16, 2015 deadline.

The Debtors on Oct. 9 filed a proposed plan of reorganization
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 Plan secures options for the Company to
continue operations in West Hartford, Connecticut on a long-term
basis.


CONSTELLATION BRANDS: Fitch Affirms 'BB+' Issuer Default Rating
---------------------------------------------------------------
Fitch Ratings has affirmed all of the ratings for Constellation
Brands Inc. (Constellation) and its subsidiary, CIH International
S.a.r.l., including the Issuer Default Ratings (IDR) at 'BB+'. The
rating affirmation follows the announcement by Constellation that
it has entered into a definitive agreement to acquire Home Brew
Mart which includes craft beer brand, Ballast Point, for a total
consideration of approximately $1 billion.

As of Aug. 31, 2015, Constellation had $7.4 billion of debt
outstanding and $330 million in cash. The Rating Outlook is
Stable.

TRANSACTION HIGHLIGHTS

Fitch estimates a transaction multiple in the upper-20x range based
on Ballast's 2015 EBITDA. Constellation will fund the transaction
through a combination of cash and debt. The transaction is expected
to close by the end of 2015, subject to customary closing
conditions.

Fitch views the acquisition as highly complementary with a robust
portfolio that is innovation focused, which has been a modest weak
point in the past for Constellation. The portfolio includes more
than 40 different styles of beer and increases Constellation's
exposure to the faster growing, high end craft beer and spirits
segments. Ballast Point has grown its revenue base almost threefold
to $49 million in 2014 from $14 million in 2012 and during the
first nine months of 2015, revenue grew 166% to $86 million. While
relatively modest at only 2% of overall revenue, Ballast Point's
operations will materially leverage Constellation's distribution,
marketing scale, supply chain and market research over time and
should become a key aspect of Constellation's overall growth
strategy.

KEY RATING DRIVERS

Leverage Will Increase Slightly, Further Improvement Expected in
FY2017
The acquisition will increase leverage (total debt/EBITDA) to
slightly greater than 4x at the end of fiscal 2016 (year ending
February 2016), which would be flat to fiscal 2015 year-end level.
Leverage had decreased to 3.8x as of Aug. 31, 2015. Year to date,
Constellation has generated better than expected operating cash
flow (OCF) and margin expansion given industry leading comparable
sales. Fitch now expects OCF to be more than $100 million higher
than initially forecast for fiscal 2016 to $1.3 billion. Given the
strong operating trends in Constellation's beer business, which
generates more than 60% of the company's operating income, Fitch
expects leverage should decrease to the upper 3x range in fiscal
2017 as growth in EBITDA should more than offset any increased
borrowing to fund beer capacity expansion and a growing dividend.

Hispanics, Premiumization Driving Growth

Fitch believes Constellation is well positioned to capture
long-term growth due to its strong appeal to the Hispanic consumer
coupled with the ongoing trend toward premiumization in the beer
industry driven by Mexican imports and craft beer. Other growth
factors include the expected sizeable increase in Hispanic
consumers reaching the legal drinking age, growth in distribution,
and expansion of drinking occasions due to increased draft and can
consumption.

The $4.75 billion Modelo acquisition (an additional true-up payment
of $543 million was made at the beginning of fiscal 2015) that
closed in fiscal 2014, materially increased Constellation's
diversity, scale and exposure to above-average market growth rates
in the beer segment. For the last 12 months, Constellation
generated more than 60% of segment operating income from the beer
business compared to approximately 40% in fiscal 2013, and grew
beer depletion volumes by approximately 9.5% which significantly
outperformed the U.S. beer industry.

Comparatively, the overall U.S. beer industry has increased in the
low single digits during the past two years after generally
experiencing low single-digit declines for several years prior due
to share loss as the millennial generation shifted preferences into
wine and spirits along with a recessionary macroeconomic
environment. As premiumization continues to affect the beer market,
consumers are trading up for high-quality, flavorful products in
above-premium, super-premium categories including hard cider and
flavored malt beverages, craft and import offerings. While several
imported beer segments are experiencing declines, Mexican imports
continue to grow and have been the primary imports growth driver
during the past several years.

Thus, Fitch expects Constellation will generate increased long-term
cash flows driven by the above strong underlying fundamentals,
further leverage of new product development innovation, and the
potential for increased cost of goods sold efficiencies as the
company brings expansion capacity on-line. The Ballast Point
acquisition allows Constellation to more effectively target
different demographic segments that are attracted to craft beer and
spirits and should minimize potential cannibalization of its
existing Mexican beer and spirits portfolio, thus supporting a
slightly improved growth profile.

Leading Market Positions

Constellation's ratings consider the company's leading market
positions and well-known liquor portfolio. According to the
company, Constellation is the third-largest U.S. beer company with
approximately 50% volume share in the import segment due to its
Mexican beer portfolio that contains five of the top 15 U.S.
imported beers. Constellation is also one of the world's largest
wine producers, is focused on growing premium brands, and is the
producer of one of the fastest-growing premium brand vodkas,
Svedka.

Constellation has begun to improve wine growth during the first
half of fiscal 2016 with focus brand depletion growth of more than
6% during the second fiscal quarter of 2016. Fitch's forecast
assumes modest growth in wine revenue for fiscal 2016 after wine
sales declined 1.2% in fiscal 2015. The wine portfolio had lagged
the overall U.S. category in fiscal 2015 causing wine dollar market
share to erode slightly, driven by competition in the super-premium
price segment. The luxury/ super luxury wine segments have
witnessed strong volume and dollar sales growth since 2010 as
consumers continue to trade up to wine priced $20 and above.
Constellation's recent acquisition of the luxury wine brand, Meomi,
highlights the company's focus on improving the price mix in the
wine portfolio.

CFO Growing, FCF Pressured Due to Elevated Capital Intensity
Fitch expects Constellation will generate increased cash flow from
operations (CFO) driven by strong underlying fundamentals, further
leverage of new product innovation, and increased efficiencies as
expansion capacity comes online. Fitch has increased its
expectations for CFO in FY2016 by more than $100 million to almost
$1.3 billion due to higher operating earnings growth. The company
expects capital expenditures for FY2016 will be in the range of
$1.05 billion to $1.15 billion, with capital expenditures related
to the Nava brewery expansion in the range of $950 million to $1.05
billion.

Fitch expects a free cash flow deficit of $50 million to $75
million in fiscal 2016, which compares to previous deficit
expectations of approximately $200 million. Constellation initiated
a dividend of approximately $240 million for fiscal 2016. With
accelerated investments for additional growth related beer capacity
likely required due to continued high demand growth, Fitch believes
Constellation's deficit will rise in FY2017 to approximately $225
million although EBITDA growth should more than offset increased
borrowing, resulting in moderate leverage improvement.

Recovery Rating Notching

Constellation's bank obligations and the European borrower's bank
obligations are secured by a 100% pledge of certain material U.S.
subsidiaries and a 65% pledge of certain foreign subsidiaries and
foreign holding companies. The European Borrower's obligations are
additionally secured by a 100% direct pledge of certain other
foreign subsidiaries which includes the Mexican brewery held by CIH
Holdings Mexico and the IP rights at the CI Cerveza subsidiary.
Fitch believes the additional stock pledge for the European
borrower reflects a superior recovery position at 'RR1'.

KEY ASSUMPTIONS
Additional key assumptions within Fitch's fiscal 2016 rating case
for the issuer include:

-- Consolidated revenue growth of 7.5% supported by depletion
    growth in the beer segment of approximately 9%;
-- Operating income margin improvement for the beer segment of
    approximately 200 basis points to 34%; modest increase in
    operating income margin in the wine and spirits segment to the

    high 23% range;
-- Operating cash flow of almost $1.3 billion;
-- FCF deficit in the range of $50 to $75 million. With
    accelerated investments for additional growth related beer
    capacity likely due to demand growth, Fitch believes
    Constellation's deficit will rise to approximately $225
    million in FY2017;
-- Total debt to EBITDA leverage of approximately 4.1x versus
    previous expectations of 3.8x - 3.9x by the end of FY2016. For

    FY2017, EBITDA expansion should drive improvement to the
    upper-3x range.

RATING SENSITIVITIES

While a ratings upgrade is not anticipated over the next 12 months,
future developments that may, individually or collectively, lead to
a positive rating action include:

-- Leverage such that total debt-to-operating EBITDA is under
    3.5x or FFO adjusted leverage is under 4.5x on a sustained
    basis;
-- Demonstrated ability to improve and sustain FCF margin above
    3.5%;
-- Growing volume trends for their primary brands;
-- Maintain EBIT margin in the mid-20% range and EBITDAR margin
    of at least 30%.

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

-- Deterioration in volume trends leading to market share losses;
-- Significant and ongoing deterioration in profitability due to
    competitive activity;
-- Increased leverage such that total debt-to-operating EBITDA
    moves above the low 4x range or FFO adjusted leverage that
    moves above the low 5x range on a sustained basis.

LIQUIDITY

Constellation had a cash position of $330 million as of Aug. 31,
2015 with nearly full availability ($15 million of outstanding
letters of credit) under its $1.15 billion senior secured revolving
credit facility that matures in 2020. Constellation also has two
accounts receivable securitization facilities that provide
additional borrowing capacity from $235 million up to $330 million
and from $100 million up to $190 million structured to account for
the seasonality of the company's business. Both facilities were
extended an additional 364-day term in September 2015 and
moderately upsized to provide additional liquidity capacity. The
facilities were undrawn as of Aug. 31, 2015.

Upcoming debt maturities in fiscal 2017 include $700 million of
7.25% notes, which Fitch expects will be refinanced. Annual
amortization requirements for the term loans over the next three
fiscal years is approximately $35 million remaining in FY2016, $138
million in FY2017 and $138 million in FY2018.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the following ratings:

Constellation Brands, Inc.
-- Long-term IDR at 'BB+';
-- Senior unsecured notes at 'BB+/RR4';
-- $1,150 million senior secured revolver at 'BBB-/RR2';
-- $1,271.6 million senior secured term loan A at 'BBB-/RR2';
-- $241.9 million senior secured term loan A-1 at 'BBB-/RR2'.

CIH International S.a.r.l.
-- Long-term IDR at 'BB+';
-- $1,430.1 million European term loan A at 'BBB-/RR1'.



CONSTELLATION BRANDS: S&P Affirms 'BB+' CCR, Outlook Stable
-----------------------------------------------------------
Standard & Poor's Ratings Services affirmed all ratings on
Rochester, N.Y.-based Constellation Brands Inc., including the
'BB+' corporate credit rating.  The outlook is stable.
Constellation had reported debt totaling $7.4 billion as of
Aug. 31, 2015.

The ratings affirmation with a stable outlook reflects Standard &
Poor's opinion that the Ballast Point acquisition will not
materially impact the company's steady deleveraging trend,
including the likelihood that debt to EBITDA will approach 3.5x
over the next 18 to 24 months compared with S&P's pro forma
estimates of about 4.3x for the acquisition.  As a result, S&P has
factored into the rating a stronger financial risk profile
assessment.  However, S&P is not contemplating a higher rating
partly because of the company's financial policy, which S&P assess
as negative, reflecting both the risk that future acquisitions
could lead to debt to EBITDA of more than 4x, and the company's
current focus on investing in manufacturing expansion.  S&P's
ratings also reflect its expectation that the company will generate
negative discretionary cash flow through 2017 as it transitions
into beer manufacturing, which includes very high capital
expenditures to increase manufacturing capacity and meet future
demand.

The stable outlook reflects S&P's opinion that the company will
continue to generate above average industry top-line growth and
associated EBITDA growth, which should permit it to steadily
improve its cash flow ratios following the Ballast Point
acquisition, including adjusted debt to EBITDA approaching 3.5x
over the next 18 to 24 months.

Although unlikely, S&P could lower the rating if the company
materially increases leverage, potentially for a very large
acquisition, such that debt to EBITDA increases to more than 5x.
S&P could also lower the ratings if the company were to materially
mismanage its manufacturing expansion program, resulting in a
material manufacturing capacity deficit compared to demand.

S&P could raise the ratings if the company reduces leverage as
expected, including debt to EBITDA near 3.5x or lower, prior to
making mid- to large-sized acquisitions, and further formalizes its
financial policies, possibly including a target leverage ratio
range for future acquisitions.



COUTURE HOTEL: Mansa Says New Plan Can't Be Confirmed
-----------------------------------------------------
Mansa Capital, LLC, submitted substantive objections to
confirmation of Couture Hotel Corporation's Modified Third Amended
Plan of Reorganization without re-solicitation.

After the Court denied confirmation of the Debtor's Second Amended
Plan of Reorganization, the Debtor filed the New Plan, which
purports to correct the infirmities in the Plan identified in the
Court's Memorandum Opinion and adversely alters Mansa's treatment
under the Plan.  

In its original objection to the New Plan, Mansa the Debtor's
changes are material, adversely affect Mansa, and cannot be
approved as modifications under F.R.B.P. Rule 3019.  Thus, it
claimed that the Debtor cannot seek approval of the New Plan
without re-solicitation or a new disclosure statement, and without
a hearing on whether the new plan satisfies the confirmation
requirements of Section 1129 of the Bankruptcy Code.

In addition to Mansa's procedural objections to the Debtor's
request for approval of its New Plan, Mansa submitted a
supplemental objection to assert these substantive objections to
confirmation of the New Plan:

  A. Approval of the Debtor's New Plan as a Modification Under FRBP
3019 Would Work an Injustice on Mansa.

     Mansa notes that through the New Plan, the Debtor seeks to cap
Mansa's recovery on its claim to an arbitrary amount lower than
what Mansa would been entitled to receive had it made an 1111(b)
election with respect to the New Plan. The Debtor has chosen to
cram down Mansa's claim, without affording Mansa the due process
protections of adequate notice of the feasibility of the New Plan,
or a meaningful opportunity to be heard in opposition, for the
Debtor seeks to avoid a full-blown confirmation hearing.

  B. The New Plan Does Not Satisfy the Confirmation Requirements of
the Bankruptcy Code.

     Mansa says the New Plan does not satisfy the Code's threshold
requirements for confirmation because, among other things, (i) the
Debtor has not demonstrated its ability to make the balloon payment
to Mansa, (ii) the Debtor's failure to comply with its reporting
requirements, combined with its decision not to provide updated pro
forma financials or any other disclosure, makes it difficult for
Mansa to assess the feasibility of the Debtor's New Plan, and (iii)
Mr. Blomfield's pledge of his interests in a Mexican hacienda as
additional collateral support for Mansa's note is illusory as the
New Plan makes no mention of when or how Mr. Blomfield will ensure
that Mansa gets the benefit of this pledge.

Mansa Capital's attorneys:

         MAYER BROWN LLP
         Charles S. Kelley, Esq.
         700 Louisiana Street, Suite 3400
         Houston, TX 77002-2730
         Tel: (713) 238-3000
         Fax: (713) 238-4625

                        About Couture Hotel

Couture Hotel Corporation, fka Hugh Black-St Mary Enterprises,
Inc., owns and operates four hotels: a Wyndham Garden Inn in
Dallas, Texas, consisting of 356 rooms and remodeled in 2013; a
Howard Johnson in Corpus Christi, Texas, consisting of 140 rooms
and remodeled in 2012; a Howard Johnson in Las Vegas, Nevada,
consisting of 110 rooms and remodeled in 2012; and an independent
hotel in Las Vegas, Nevada (formerly branded as a Value Place),
consisting of 121 rooms and also remodeled in 2012. The Las Vegas
hotels are located at one of the entrances to Nellis Air Force
base in North Las Vegas.  The Debtor owns the real property and
improvements, as well as the franchise rights to the hotels
(except for Las Vegas Value Place).

The Company sought Chapter 11 protection (Bankr. N.D. Tex. Case
No. 14-34874) in Dallas, Texas, on Oct. 7, 2014.  The case is
assigned to Judge Barbara J. Houser.  

The Debtor disclosed $20.8 million in assets and $27.8 million in
liabilities as of the Chapter 11 filing.

The Debtor tapped Mark Sean Toronjo, Esq., at Toronjo & Prosser
Law, as counsel.

No creditors' committee or other official committee been appointed
in the case.


CUI GLOBAL: Incurs $59,000 Net Loss in Third Quarter
----------------------------------------------------
CUI Global, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $59,000
on $24.92 million of total revenue for the three months ended Sept.
30, 2015, compared to a net loss of $349,000 on $21.37 million of
total revenue for the same period during the prior year.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $4.63 million on $64.75 million of total revenue
compared to a net loss of $903,000 on $57.49 million of total
revenue for the same period last year.

As of Sept. 30, 2015, the Company had $91.20 million in total
assets, $30.10 million in total liabilities and $61.10 million in
total stockholders' equity.

CUI Global's President & CEO, William Clough commented, "We are
very pleased with the progress across our business segments, and
the combined results.  Revenues increased 17% over the prior year
comparable quarter and 9% versus the second quarter.  In addition,
earlier this month our UK energy subsidiary, Orbital Gas Systems
Ltd., received and responded to the long-awaited RFQ for deployment
of as many as 3,000 of our GasPT units from a large Italian natural
gas transmission company.  We received additional purchase orders
from a large UK natural gas pipeline company for IRIS kiosks to be
produced at our new 46,000 square foot manufacturing facility,
which we formally opened in September."

"We are confident and excited about the opportunities ahead,
building on a solid third quarter and the significant developments
over the last year, including new partnerships, the CUI-Canada
acquisition and the new Orbital Gas Systems, North America
facility," continued Mr. Clough.  "These, together with the
strength in the business and demand for our products, place us in a
strong position as we enter the last quarter of the year."

As of Sept. 30, 2015, the Company held Cash and cash equivalents of
$6.2 million and investments of $0.5 million.  Operations,
acquisitions, investments, patents, equipment, land and buildings
have been funded through cash on hand.

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

                       http://is.gd/Te2u6x

                         About CUI Global

Tualatin, Ore.-based CUI Global, Inc., formerly known as Waytronx,
Inc., is a platform company dedicated to maximizing shareholder
value through the acquisition, development and commercialization
of new, innovative technologies.

CUI Global reported a consolidated net loss of $2.80 million in
2014, a consolidated net loss of $943,000 in 2013 and a
consolidated net loss of $2.52 million in 2012.


DLN PROPERTIES: Case Summary & 4 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: DLN Properties, LTD
        2225 Piedmont Street
        Kenner, LA 70062

Case No.: 15-12993

Chapter 11 Petition Date: November 17, 2015

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

Judge: Hon. Jerry A. Brown

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

Total Assets: $1.92 million

Total Liabilities: $2.41 million

The petition was signed by Anthony H. Guthans, president.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/laeb15-12993.pdf


ELITE PHARMACEUTICALS: Incurs $7 Million Net Loss in 2nd Quarter
----------------------------------------------------------------
Elite Pharmaceuticals, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common shareholders of $7 million on $2.69 million
of total revenues for the three months ended Sept. 30, 2015,
compared to net income attributable to common shareholders of
$21.37 million on $1.25 million of total revenues for the same
period during the prior year.

For the six months ended Sept. 30, 2015, the Company reported net
income attributable to common shareholders of $9.07 million on
$9.77 million of total revenues compared to net income attributable
to common shareholders of $16.97 million on $2.41 million of total
revenues for the same period during the prior year.

As of Sept. 30, 2015, the Company had $28.69 million in total
assets, $16.20 million in total liabilities, $32.85 million in
convertible preferred shares and a $20.36 million total
stockholders' deficit.

As of Sept. 30, 2015, the Company had cash on hand of $9 million
and a working capital surplus of $9.6 million.  The Company
believes that such resources, combined with the Company's access to
the remaining $24 million available pursuant to the $40 million
equity line with Lincoln Park, and approximately $0.6 million
available under the Hakim Credit Line are sufficient to fund
operations through the current operating cycle.

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

                          http://is.gd/IfKY0U

                      About Elite Pharmaceuticals

Northvale, New Jersey-based Elite Pharmaceuticals, Inc., is a
specialty pharmaceutical company principally engaged in the
development and manufacture of oral, controlled-release products,
using proprietary technology and the development and manufacture
of generic pharmaceuticals.  The Company has one product,
Phentermine 37.5mg tablets, currently being sold commercially.

Elite Pharmaceuticals reported net income attributable to common
shareholders of $28.9 million on $5 million of total revenues for
the year ended March 31, 2015, compared to a net loss attributable
to common shareholders of $96.5 million on $4.6 million of total
revenues for the year ended March 31, 2014.


ENERGY FUTURE: Court Sustains Objection to UMB's PIK Claim
----------------------------------------------------------
Judge Christoher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware partially sustained the partial objection
filed by debtors Energy Future Intermediate Holding Company LLC and
EFIH Finance Inc. ("EFIH Debtors") against UMB Bank, N.A.'s Claim.

The EFIH Debtors object to Claim No. 6347 ("PIK Claim") filed by
UMB Bank as indenture trustee for the unsecured 11.25%/12.25%
Senior Toggle Notes Due 2018 ("PIK Notes"), which seeks
approximately $1.57 billion in principal, plus interest, fees and
other amounts arising in connection with the PIK Indenture. Among
other things, the PIK Claim seeks an amount related to "premiums,
Applicable Premium, pre-payment penalties, make-whole premiums,
and/or call premiums."

The EFIH Debtors and the PIK Trustee entered into an indenture
("PIK Indenture") pursuant to which EFIH issued $1,144,770,000
aggregate principal amount PIK Notes.  EFIH subsequently issued an
additional (i) $159,032,000 aggregate principal amount of PIK Notes
under a First Supplemental Indenture, (ii) $63,930,000 aggregate
principal amount of PIK Notes under a Second Supplemental
Indenture, and (iii) $24,713,000 aggregate principal amount of PIK
Notes under a Third Supplemental Indenture.  The PIK Notes provide
for the payment of an "Applicable Premium" upon optional redemption
before Dec. 1, 2014. The PIK Notes also provide that after Dec. 1,
2014, EFIH may voluntarily "redeem" the notes at certain
"redemption prices" ("Optional Redemption Price").  FFIH has not
repaid the PIK Notes.

Through the PIK Claim Objection, the EFIH Debtors object to the
portion of the PIK Claim that seeks: (i) payment of the "Applicable
Premium" under section 3.07(a) or the Optional Redemption Price
under section 3.07(d) of the PIK Indenture; and (ii) postpetition
interest at the rate specified in the PIK Indenture.

                   Payment of Applicable Premium

Judge Sontchi held that neither an Applicable Premium nor an
Optional Redemption Price is due under the terms of the PIK
Indenture.  Judge Sontchi notes that the Applicable Premium is only
due upon optional redemption before Dec. 1, 2014.  According to
Judge Sontchi, as the PIK Notes were not redeemed prior to Dec. 1,
2014, the PIK Notes are not entitled to an Applicable Premium.
Judge Sontchi further notes that the PIK Indenture provides for an
Optional Redemption Price if the PIK Notes are redeemed after Dec.
1, 2014, but prior to maturity date.  He relates that as the PIK
Notes were automatically accelerated as a result of the EFIH
Debtors' bankruptcy filings, repayment of the PIK Notes will not be
an optional redemption.

                       Postpetition Interest

The EFIH Debtors contend that UMB's claim for post-petition
interest must be disallowed as "unmatured interest."  They argue
that UMB's claim for post-petition interest is limited to "payment
of interest at the legal rate," which the Debtors claim is the
Federal judgment rate.  UMB argues that it is entitled to
postpetition interest at its contract rate as part of the PIK
Claim.

Judge Sontchi held that UMB's allowed unsecured claim is limited to
the amount of principal and accrued fees and interest due under the
unsecured notes "as of the date of the filing of the petition" and
does not include any postpetition interest, regardless of whether
such interest would be calculated at the contract rate, the Federal
judgment rate, or otherwise.

                About Energy Future Holdings Corp.

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

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

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

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

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

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

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

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

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

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



ENERGY FUTURE: Has Nod to Join Bidding for Business Assets
----------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware authorized Energy Future Holdings Corp. and
its affiliated debtors to participate in a competitive bidding
process for the acquisition of certain strategic business assets
and to execute a purchase agreement, if selected as the winning
bidder.

The Court ordered that only the assets of the TCEH Debtors will be
used to satisfy amounts paid in connection with the Bidding and
Acquisition Procedures.  The Court likewise ordered that the the
TCEH Debtors will not execute any definitive documentation with
respect to the Transaction without the prior written consent of the
ad hoc committee of TCEH first lien creditors.  The Court
prohibited the TCEH Debtors from using any unencumbered assets or
segregated cash to acquire the Assets.

Energy Future is represented by:

          Mark D. Collins, Esq.
          Daniel J. DeFranceschi, Esq.
          Jason M. Madron, Esq.
          RICHARDS LAYTON & FINGER, P.A.
          920 North King Street
          Wilmington, DE 19801
          Telephone: (302)651-7700
          Facsimile: (302)651-7701
          E-mail: collins@rlf.com
                  defranceschi@rlf.com
                  madron@rlf.com

                - and -

          Edward O. Sassower, Esq.
          Stephen E. Hessler, Esq.
          Brian E. Schartz, Esq.
          KIRKLAND & ELLIS LLP
          KIRKLAND & ELLIS INTERNATIONAL LLP
          601 Lexington Avenue
          New York, NY 10022-4611
          Telephone: (212)446-4800
          Facsimile: (212)446-4900
          E-mail: edward.sassower@kirkland.com
                  stephen.hessler@kirkland.com
                  brian.schartz@kirkland.com

                - and -

          James H.M. Sprayregen, Esq.
          Marc Kieselstein, Esq.
          Chad J. Husnick, Esq.
          Steven N. Serajeddini, Esq.
          KIRKLAND & ELLIS LLP
          KIRKLAND & ELLIS INTERNATIONAL LLP
          300 North LaSalle
          Chicago, Illinois 60654
          Telephone: (312)862-2000
          Facsimile: (312)862-2200
          E-mail: james.sprayregen@kirkland.com
                  marc.kieselstein@kirkland.com
                  chad.husnick@kirkland.com

                        About Energy Future

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

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

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

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

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

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

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

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

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

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


EQUINIX FIRST: Fitch Assigns First Time 'BB' Issuer Default Rating
------------------------------------------------------------------
Fitch Ratings has assigned a first time 'BB' IDR to Equinix, Inc.
The Rating Outlook is Stable. A complete list of rating actions
follows at the end of this release. Fitch's rating actions affect
$4.2 billion of existing debt ($3.2 billion funded plus the $1
billion undrawn revolver) and $1.7 billion of expected debt to
support the acquisition of Telecity. The expected debt to support
the acquisition of Bit-isle and convertible notes have not been
rated.

The ratings and Outlook are supported by Equinix's leading market
position and world-class reputation in data center colocation,
geographically diverse and network-dense footprint, central
position in the emerging hybrid cloud ecosystem, secular demand
drivers for data center outsourcing, recurring revenue and stable
customer base. Rating constraints include negative free cash flow
from capital intensity and required REIT dividends, modest expected
deleveraging over the rating horizon, high operating leverage,
debt-funded acquisitions, competitive nature of the data center
industry and low unencumbered asset coverage.

KEY RATING DRIVERS

Globally Diversified, Network-Dense Data Center Footprint

Equinix is the largest retail colocation provider in the world. The
Company's 105 data centers span over 11 million square feet across
the Americas, EMEA and Asia Pacific, are carrier-neutral and have
locations in each of the 10 largest global data center markets. A
connected network of facilities in major cities and internet
traffic hubs across the world allows Equinix to house customers' IT
equipment close to their offices, reducing latency and travel time
for IT staff. Large enterprises often require a geographically
diverse provider such as Equinix to distribute their infrastructure
optimally for their global employee and customer bases. In
situations where milliseconds amount to millions of dollars, such
as with electronic trading or advertising exchanges, seamless
application performance and 99.999% uptime are paramount. Fitch
believes Equinix's scale, network density and reputation
distinguish it from its peers, and are key advantages when
competing for new business.

Interconnection Business Creates Network Effects and Upside to
Margins

Equinix has 168,700 cross-connects, growing 17% year-over-year. A
key driver of this momentum has been the emergence of cloud
exchanges, or private connections between cloud service providers
and their customers inside Equinix data centers. With a number of
enterprises reluctant to use cloud services due to security or
bandwidth cost concerns, a direct connection in an Equinix data
center provides a means to bypass the public internet and store
data in the cloud securely and cost effectively. Equinix customers
can connect to the cloud exchange while maintaining their private
servers for more sensitive workloads, creating a hybrid environment
where colocation and cloud complement rather than compete with each
other. As more cloud service providers and enterprises join
Equinix, the value of the ecosystem (i.e. the number of
cross-connect opportunities) for all participants increases. The
result is an interwoven ecosystem of carriers, cloud service
providers and enterprises, with Equinix at the center, and an
enhanced value proposition to attract new customers. An increasing
mix of interconnection revenue is also a positive driver for
Equinix's profitability, as the low cost of installation results in
high incremental margins.

Recurring Revenue and Stable Customer Base

Over 90% of Equinix's revenue is recurring and supported by fixed
rate contracts with 2 - 3 year terms. Quarterly revenue churn of
around 2 - 2.5% is higher than in the wholesale segment, but low
compared to other communications sub-verticals. Common reasons for
churn include customer consolidations or financial distress. Price
competition is not a major driver of churn as the risk of data loss
or disrupting operations usually outweighs the savings on price. In
some cases, larger customers that outgrow retail space may move
into a wholesale facility or build their own. These larger churn
events are often telegraphed, providing Equinix with time to
backfill the vacant space. The impact of a large churn event is
further mitigated by Equinix's low customer concentration (its
largest and top 10 customers account for 3.2% and 16% of total
revenue, respectively). Low churn and customer contracts create
stable and predictable revenue, which increases confidence that
Equinix will meet its forecast and service its debt.

Secular Demand Drivers Balance Oversupply Risk

The decision to outsource the construction and management of data
centers is being driven by exponential data growth, which is making
it increasingly expensive for businesses to manage data in-house.
Over the next five years, Cisco expects data center traffic to
nearly triple, with 76% of that traffic attributable to the cloud.
Fitch believes data center traffic growth, combined with an
increasingly positive enterprise sentiment towards hybrid
deployments, will favor carrier-neutral providers with strong
interconnection offerings and cloud exchanges. Even amid this
favorable backdrop, the fragmented nature of the data center
industry has kept it susceptible to pockets of pricing pressure,
often the result of excess inventory from new builds or sudden
large customer churns. While builds are not nearly as speculative
as they were in the past, oversupply will remain a risk as long as
there is a need to start building months or years before signing
new customers. Fitch believes Equinix is better protected against
this risk than smaller providers, as its premium offering and
diverse footprint should cause its financial profile to more
closely track macro industry trends.

Fragmented, Competitive Industry

The data center colocation market comprises retail providers such
as Equinix, wholesale providers, telcos and other carriers.
Competition can be intense, especially in top markets where there
are over 20 providers. Equinix has the largest market share with
8.4%, (ex-Telecity and Bit-isle) followed by wholesale provider
Digital Realty with 5.7% (ex-Telx).

Wholesale providers for years have generated a portion of their
revenue from retail-sized deals, but not enough to meaningfully
impact premium retail providers such as Equinix. In July 2015,
Digital Realty announced the acquisition of retail colocation and
interconnection provider Telx, raising speculation that wholesale
providers will compete more aggressively in the retail segment.
Fitch believes wholesale providers may gradually increase their
focus on retail, but the ability to do so without diluting margins
or FFO metrics will temper that pace. Telcos and other carriers
have been buyers of data center assets over the past several years,
but now find themselves divesting these assets to deploy capital
elsewhere. In the broader market for data center services, Equinix
competes with managed hosting and cloud service providers. If
enterprises embrace offloading more critical applications in
managed or cloud-only deployments, those dollars would likely come
at the expense of colocation. Fitch believes concerns around
network performance, bandwidth cost, data security and compliance
largely mitigate this in the medium-term, and favor a hybrid
environment.

Capital Intensity and Dividends Constrain Free Cash Flow, Slow
Deleveraging
Colocation is Equinix's core business, comprising 75% of total
revenue. To support this business, Equinix must add capacity as
cabinet utilization increases. Building new capacity is capital
intensive, costing from tens of millions to over $100 million for a
single phase. Construction can take from a few months to several
years, with no guarantee that breakeven cash flow will be reached
on schedule. Equinix's total capex has averaged around 27% of
revenues over the last two years, resulting in free cash flow
margins of less than 2%. Fitch expects free cash flow to turn
negative over the rating horizon, as the Company's required REIT
dividend distributions plus capital expenditures will exceed cash
from operations, likely requiring ongoing revolver draws or
incremental debt. As a result, Fitch expects only 1x-1.25x of
deleveraging by the end of 2018, from a peak of about 4.8x (rent
adjusted, based on most recent LTM financials) pro forma for the
Telecity and Bit-isle transactions. While Equinix's leverage is low
compared to similarly rated REITs, Fitch believes the Company's
comparatively low unencumbered asset coverage reduces its leverage
tolerance relative to those companies. Fitch's forecast assumes
that a portion of the proceeds from the sale of assets related to
the Telecity transaction will be used to repay debt, such that the
impact will be leverage neutral.

High Operating Leverage

Equinix's cost structure is largely fixed. Its main cash expenses
include labor (38% of total), power (22%) and rent for its leased
data centers (9%). Within these categories, variability is mostly
limited to sales commissions, which correlate with bookings. The
Company enters into contracts to purchase power at fixed prices
over several years at a time. The average maturity on Equinix's
data center lease portfolio is 21.5 years (including extensions),
significantly longer than the 2 - 3 year contract terms for
customers in those facilities. The Company's high fixed cost base
can magnify margin deterioration should it experience a sustained
period of elevated churn, or have difficulty reaching target
utilization levels for added cabinets.

Debt-Funded Acquisitions

In May 2015, Equinix announced it will acquire Telecity for an
aggregate equity value of $3.6 billion (16.4x LTM 6/30/15 EBITDA).
The transaction will be funded with about 50% cash / 50% stock, and
is expected to close in the first half of 2016. To obtain
regulatory approval, Equinix and Telecity committed to divesting
facilities comprising about 4% of combined revenue for the nine
months from January through September 2015. Under the terms of its
credit agreement, Equinix is required to use proceeds from the
asset sales to repay debt or reinvest in the business. The
acquisition combines the top two data center providers in EMEA,
further separating Equinix from others in the region. In September
2015, Equinix announced it will acquire Bit-isle, the number four
provider in Japan, for an aggregate equity value of $280 million
(9.6x LTM 6/30/15 EBITDA). The Company completed a cash tender
offer for 97% of the equity interests in Bit-isle in November 2015,
and will acquire the remaining shares before the end of the year.
The transaction will be funded through an existing bridge facility
until longer-term capital is put into place in 2016. Acquiring
Bit-isle catapults Equinix from the 15th to the fourth largest
provider in Japan, and adds a complementary enterprise customer
base. Fitch believes Bit-isle's 51% utilization level and roughly
30% EBITDA margin increase financial and execution risk, but
expects both figures to increase as Equinix leverages the large
expected demand / supply delta in Tokyo and Osaka to fill the
vacant space. While Fitch believes the strategic rationale for
these two transactions warrants the temporary increase in leverage,
future transactions will be evaluated independently, and may
pressure the rating.

KEY ASSUMPTIONS

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

-- Average pro forma annual revenue growth of about 8-9% over the

    rating horizon;
-- Overall cabinet utilization between 78-80% per year
-- Stable overall MRR per cabinet;
-- EBITDA margin expands 25 bps per year to reflect benefits of
    increased scale;
-- Tax rate of 10 - 15% per year, reflecting taxes paid from
    taxable REIT subsidiaries;
-- Expansion capital expenditures of $50,000 per cabinet install;

    recurring capex of 4-4.5% of revenue per year; capital
    intensity (capex/revenue) approaches the low 20% range over
    the rating horizon;
-- Dividend payout ratio between 45%-60% of AFFO;
-- Free cash flow negative over the rating horizon; deficits
    financed through revolver draws and incremental debt

RATING SENSITIVITIES

Future developments that may, individually or collectively, lead to
a negative rating action include:
-- Debt-financed acquisitions that increase leverage or dilute
    margins; financial impact will be considered in context of
    strategic rationale
-- Fitch's expectation of leverage (rent adjusted) sustaining
    above 5.0x
-- Increased liquidity risk, potentially resulting from limited
    revolver availability as debt maturities approach

Future developments that may, individually or collectively, lead to
a positive rating action include:

-- Fitch's expectation of leverage (rent adjusted) sustaining
    below 4.0x
-- Unencumbered asset coverage of about 2.0x
-- Consistent positive free cash flow generation, but still
    allowing for sufficient capital investment to maintain market
    leadership and premium offering

LIQUIDITY

Fitch believes that negative free cash flow over the rating horizon
will cause Equinix to rely heavily on external funding to support
its liquidity needs. As of 30 September 2015, the Company had
$957.3 million available under its $1 billion revolver ($42.7
million LOCs and $0 drawn). Required REIT dividend distributions
will make it difficult for Equinix to add meaningfully to its cash
balance ($335.5 million of cash and cash equivalents as of 30
September 2015). Fitch expects that Equinix will limit its revolver
borrowings by raising new debt within the next few years. Failure
to do so may result in heightened liquidity risk as debt maturities
approach, and may result in a negative rating action.

While other REITs can often leverage unencumbered assets to address
liquidity needs, Equinix's data centers are mostly leased, limiting
sources of contingent liquidity. Its owned facilities, however, are
mainly in top global markets, which should imply a lower
capitalization rate in a sale or financing. Excluding Telecity and
Bit-isle, Fitch estimates unencumbered asset coverage of about
1.5x, assuming a 25% haircut to Company-owned net operating income
(NOI) to account for ground leases on six of its 23 owned
facilities (Equinix does not disclose NOI by facility). This figure
is subject to change, however, once there is more clarity around
pro forma owned asset composition and associated NOI. Equinix's
ability to leverage owned facilities may be limited by the
availability of mortgage capital for data centers, which is not as
deep compared with other commercial real estate property types.

FULL LIST OF RATING ACTIONS

Equinix, Inc.

-- Long-Term IDR 'BB'; Stable Outlook;
-- $1,000 million senior secured Revolving Credit Facility
    'BBB-/RR1';
-- $476 million multi-currency senior secured Term Loan A
    'BBB-/RR1';
-- New $700 million senior secured Term Loan B 'BBB-/RR1';
-- New $1,000 million unsecured Senior Notes 'BB/RR4';
-- $2,750 million of unsecured Senior Notes due 2020 - 2025
    'BB/RR4'.



EQUINIX INC: Moody's Affirms Ba3 CFR & Rates New Unsecured Notes B1
-------------------------------------------------------------------
Moody's Investors Service has affirmed the Ba3 corporate family
rating for Equinix, Inc. following its announcement of proposed
debt and equity issuances.  Moody's has also assigned a B1 (LGD5)
rating to Equinix's proposed $1 billion senior unsecured notes and
assigned a Ba2 (LGD3) rating to the company's proposed $700 million
senior secured term loan B.  Moody's has also affirmed the
company's Ba3-PD probability of default rating (PDR) and SGL-3
speculative grade liquidity (SGL) rating.  The outlook is stable.

Equinix anticipates issuing $1.7 billion of debt and will use these
proceeds along with cash on hand to fund the cash portion of its
acquisition of TelecityGroup plc and repay its existing revolver
borrowings.  In addition, Equinix will issue subsidiary debt to
fund the acquisition of Japanese data center operator Bit-isle Inc.
Although the new secured term loan and Japan subsidiary debt
subordinate Equinix's existing $2.8 billion of unsecured notes,
Moody's has affirmed the B1 ratings for this class of unsecured
notes.  However, as a result of these changes to Equinix's capital
structure, Moody's has lowered the loss given default (LGD)
assessment for Equinix's existing unsecured notes to LGD5 from LGD4
prior due to the increase in secured debt from the proposed TLB
above and the unrated Japan subsidiary debt.

Lastly, Equinix plans to raise an additional $750 million through a
follow on equity issuance of common stock.  Moody's views the
common stock issuance favorably and considers this capital raise as
critical to the rationale behind the affirmation of Equinix's Ba3
CFR and stable outlook.  The absence of this equity capital raise
would likely result in downward pressure on the company's ratings
and/or outlook.

Issuer: Equinix, Inc.

Assignments:

  Senior Secured Bank Credit Facility, Assigned Ba2 (LGD3)
  Senior Unsecured Regular Bond/Debenture, Assigned B1 (LGD5)

Affirmations:

  Corporate Family Rating, Affirmed Ba3
  Probability of Default Rating, Affirmed Ba3-PD
  Speculative Grade Liquidity Rating, Affirmed SGL-3
  Multiple Seniority Shelf, Affirmed (P)B1
  Senior Unsecured Regular Bond/Debenture, Affirmed B1, to (LGD5)
   from (LGD4)

Outlook Actions:

  Outlook, Remains Stable

RATINGS RATIONALE

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

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

Moody's maintains an SGL-3 speculative grade liquidity rating on
Equinix as Moody's anticipates that the company will rely heavily
upon its $1 billion revolving credit facility to finance its annual
cash flow deficit, resulting in adequate liquidity for the next
12-18 months.  Moody's estimates that Equinix will pay around $425
million in cash dividends in 2015, with rapid growth in future
periods.  Moody's estimates that dividends will exceed internally
generated cash for the foreseeable future and the company will rely
upon its revolver to finance the deficit.  The company had
approximately $336 million in cash or equivalents at Sept. 30,
2015.

The ratings for Equinix's debt instruments comprise the overall
probability of default of the company, to which Moody's assigns a
PDR of Ba3-PD, individual family loss given default assessments and
the composition of the debt instruments in the capital structure.
The proposed senior unsecured notes are rated B1 (LGD5), one notch
below the CFR given their junior position in the debt capital
structure.  Moody's rates the proposed senior secured term loan Ba2
(LGD3) due to its security and collateral.  The differential
between the Ba2-rated term loan and the company's Ba3 CFR is
limited to one notch due to the term loan's 50% collateral limit,
which is a restriction embedded in the company's unsecured notes
indenture.  The limited collateral package reduces the amount of
ratings lift for the secured debt.

The stable outlook reflects Moody's expectation that leverage will
return towards the mid 4x range (Moody's adjusted) and the company
will maintain adequate liquidity as it manages the cash flow
demands of its high growth business and its high dividend payout.

The ratings could be lowered if liquidity were to become strained,
if industry pricing were to deteriorate due to competitive pressure
or if leverage remains above 5x (Moody's adjusted) for an extended
timeframe.  Also, the Ba3 rating cannot accommodate any further
debt financed M&A activity or additional shareholder returns.
Moody's could raise Equinix' ratings if the company is on track to
generate consistent positive free cash flow and leverage can be
sustained below 4x.  Alternatively, if Equinix can maintain
moderate leverage and low levels of secured debt while increasing
the proportion of cash flows generated from owned properties
towards two-thirds of total and reduce its annual cash flow
deficits meaningfully, the rating could be upgraded as the company
would then be more comparable to its REIT peer group.

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

Headquartered in Redwood City, CA, Equinix, Inc. is the largest
publicly traded carrier-neutral data center hosting provider in the
world with operations in 33 markets across the Americas, EMEA and
Asia-Pacific.



EQUINIX INC: S&P Assigns 'BB' Rating on Proposed $1BB Sr. Notes
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BBB-' issue-level
rating to Redwood City, Calif.- Equinix Inc.'s proposed seven-year
term loan B.  The term loan commitment will be up to $700 million
and will be available in U.S. dollars or British pound sterling
(GBP).  The recovery rating is '1' and indicates S&P's expectation
for very high (90% to 100%) recovery for secured creditors in the
event of a payment default.  The 'BBB-' issue-level rating and '1'
recovery rating on the existing credit facility remain unchanged.

At the same time, S&P assigned its 'BB' issue-level rating and '3'
recovery rating to the company's proposed $1 billion senior
unsecured notes that S&P expects will be issued in two tranches.
The '3' recovery rating indicates S&P's expectation for meaningful
(50%-70%; upper end of range) recovery for lenders in the event of
a payment default.

The 'BB' corporate credit rating and stable outlook on Equinix
remain unchanged.  S&P expects the company to use proceeds from the
proposed term loan and senior notes to fund the acquisition of
European data-center operator, TelecityGroup PLC, as well as
refinance existing debt.  On Nov. 13, 2015, Equinix received
clearance from the European Commission (EC) in the acquisition of
Telecity, which included certain divestiture requirements.  Pro
forma for these divestitures, S&P expects adjusted debt to EBITDA
to increase to about 4.8x in 2016, from 3.9x as of Sept. 30, 2015.
This compares to S&P's current 5.0x downgrade threshold for Equinix
at the 'BB' rating.  Despite the increased leverage, S&P views the
acquisition as positive for Equinix's business profile, expanding
its footprint and network density in key metro markets across
Europe, and potentially driving incremental interconnection and
cloud-based revenue opportunities.  As a result, S&P expects the
company to reduce leverage to the low- to mid-4x area over the next
few years through EBITDA growth.  However, S&P expects free
operating cash flow to debt to remain in the low- to
mid-single-digit percentage area due to the company's high capital
intensity, with capital expenditures to revenue of around 30%.
Furthermore, after dividends, S&P expects discretionary cash flow
in the negative $400 million area over the next few years, which
will have to be met with borrowings under the revolving credit
facility or future debt or equity issuance.

RATINGS LIST

Equinix Inc.                       BB/Stable/--

New Rating

Equinix Inc.                   
$700 mil seven-year term loan B
Senior Secured                    BBB-
  Recovery Rating                  1
$1 bil. Notes*
Senior Unsecured                  BB
  Recovery Rating                  3H

*Multiple maturities



EXIDE TECHNOLOGIES: Investors Say Execs Covered Up Failure
----------------------------------------------------------
Kali Hays at Bankruptcy Law360 reported that investors in Exide
Technologies on Nov. 9, 2015, pushed back at the bankrupt
automotive and industrial battery maker's argument against
certification of a class accusing executives of covering up the
company's failure to comply with environmental regulations, saying
its damages calculations are well-founded and an expert report to
the contrary lacks substance.

Lead plaintiff David M. Loritz told a California federal court that
the early October arguments of Exide Technologies Inc. executives
against a second attempt at class certification for a group of
noteholders are unsupported.

                      About Exide Technologies

Headquartered in Milton, Ga., Exide Technologies (NASDAQ: XIDE)
-- http://www.exide.com/-- manufactures and   distributes lead   
acid batteries and other related electrical energy storage
products.

Exide first sought Chapter 11 protection (Bankr. Del. Case No.
02-11125) on April 14, 2002, and exited bankruptcy two years
after.

Matthew N. Kleiman, Esq., and Kirk A. Kennedy, Esq., at Kirkland &
Ellis, and James E. O'Neill, Esq., at Pachulski Stang Ziehl &
Jones LLP represented the Debtors in their successful
restructuring.

Exide returned to Chapter 11 bankruptcy (Bankr. D. Del. Case No.
13-11482) on June 10, 2013.  Exide disclosed $1.89 billion in
assets and $1.14 billion in liabilities as of March 31, 2013.

Exide's international operations were not included in the filing
and will continue their business operations without supervision
from the U.S. courts.

For the new case, Exide has tapped Anthony W. Clark, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, and Pachulski Stang
Ziehl & Jones LLP as counsel; Alvarez & Marsal as financial
advisor; Sitrick and Company Inc. as public relations consultant
and GCG as claims agent.  Schnader Harrison Segal & Lewis LLP was
tapped as special counsel.

The Official Committee of Unsecured Creditors is represented by
Lowenstein Sandler LLP and Morris, Nichols, Arsht & Tunnell LLP as
co-counsel.  Zolfo Cooper, LLC serves as its bankruptcy
consultants and financial advisors.  Geosyntec Consultants was
tapped as environmental consultants to the Committee.

Robert J. Keach of the law firm Bernstein Shur as fee examiner has
been appointed as fee examiner.  He has hired his own firm as
counsel.

Exide said its Plan of Reorganization became effective on April
30, 2015, and that the Company has emerged from Chapter 11 as a
newly reorganized company.  The Bankruptcy Court for the District
of Delaware confirmed the Plan on March 27, 2015.


FPL ENERGY: Fitch Affirms BB Rating on Opco's 2024 Notes
--------------------------------------------------------
Fitch Ratings has affirmed the ratings on FPL Energy National Wind,
LLC's (Opco) and FPL Energy National Wind Portfolio, LLC's (Holdco)
senior secured notes.

-- Opco $365 million ($59.8 million outstanding) senior secured
    indebtedness due 2024 at 'BB';

-- Holdco $100 million ($3.4 million outstanding) senior secured
    indebtedness due 2019 at 'B-'.

The Outlook remains Negative for both tranches of debt.

The ratings are anchored by a diverse wind regime generating
revenues under fixed-price long-term power purchase agreements
(PPA). Historical wind volatility and increased operating costs
have reduced cash flows below initial estimates. Rating case
financial performance reflects a near-term downturn that is below
the current 'BB' rating for the Opco, while the long-term profile
demonstrates metrics supportive of the rating. The Holdco's rating
case reliance on reserves to support debt repayment through 2018
provides a limited margin of safety consistent with the 'B-'
rating. The Negative Outlooks reflect that without successful
completion of structural repairs at one of the wind farms, the
potential for extended underperformance could further erode
financial performance.

KEY RATING DRIVERS

Fully Contracted Revenues - Revenue Risk- Price: Midrange
Revenues are derived under fixed-price long-term contracts for a
portfolio of eight wind farm projects totalling 389.6 megawatts
(MW). The credit quality of the offtakers, which are investment
grade, does not actively constrain the current ratings.

Revised Production Estimates - Revenue Risk- Volume: Weaker
Actual wind resource performance has fallen persistently below the
original P50 estimate. The project benefits from geographic
diversification but any portfolio effect has not fully mitigated
generation losses from reduced wind speeds overall. Revised
projections exclude one divested portfolio project and utilize an
updated P50 forecast based on actual performance, which is on
average 10% below the original P50.

Stabilizing Operating Profile - Operating Risk: Midrange
Operating and maintenance (O&M) expenses have persisted well above
the original base case. Fitch's projections utilize the increased
actual historical O&M cost in the base case with additional stress
applied in the rating case for the later years. The project has
historically maintained solid high availability with an average of
94.4% portfolio-wide since 2005.

Debt Structure - Debt Structure: Midrange (Opco)/Weaker (Holdco)

The Opco and Holdco debt benefit from 12-month debt service
reserves (DSR) with additional reserves for operations and major
maintenance. The distribution trigger at Opco of 1.25x for the past
twelve months and projected six months at 1.10x helps to ensure
timely debt payment at Opco. Under a cash trap scenario, however,
the Holdco debt is fully reliant on limited cash reserves.

Limited Financial Cushion

Financial performance has been lower than original projections due
to reduced energy revenues and higher operating costs. Fitch's
rating case adds the planned repair cost for 2015 and 2016, a 9% -
12% reduction to output and a 10% increase to O&M expenses. The
Opco rating case average debt service coverage ratio (DSCR) is
1.34x with a minimum of 1.14x. The DSCR approaches break-even on a
consolidated basis that includes Holdco debt service. Under the
rating case, cash flows are sufficient at Opco to complete
necessary maintenance with cash, and Holdco debt service reserves
are adequate to support debt payment through 2018, just short of
the March 2019 maturity.

Limited Public Peers

Opco and Holdco ratings are lower than publicly rated peers. Fitch
rated wind projects that meet the rating case investment grade DSCR
threshold of 1.30x include Continental Wind ('BBB-'/ Stable
Outlook) with an average DSCR of 1.38x and a minimum of 1.33x, and
Caithness Shepherds Flat ('BBB-'/Stable Outlook) with an average
DSCR of 1.41x and a minimum of 1.31x.

RATING SENSITIVITIES

Achievement of the milestones in the following rating sensitivities
could result in a return to a Stable Outlook. Failure to achieve
these milestones could result in a downgrade to the ratings.

Capital Improvements- Successful completion of structural repairs
isolated to one of the sites by 2016Q2.

Operating performance- Plant availability and generation in 2016Q2
should show material and sustainable improvement.

Financial Performance- The September 2016 DSCR should be at least
1.20x.


CREDIT UPDATE

Operating performance has declined since 2014. Electric generation
in 2014 was 13% below budget, with portfolio availability averaging
90%. Despite similar portfolio availability of about 90% through
2015Q3, electric generation output suffered at about 20% below
budget primarily due to three reasons. First, the project has
encountered low wind conditions in the western United States, which
has adversely affected other wind power projects in Fitch's rated
portfolio. Second, the project accelerated $6 million of foundation
repairs at one of the wind farms to an estimated 18-month
implementation (June 2016) schedule from 25 months (January 2017),
resulting in lower plant availability at the wind farm (about 80%)
and generation about 50%below budget. Management reports that the
design for the repairs was approved by a third-party engineer.
Third, three other sites experienced downtime for component
failures (including gear box repairs) and a brush fire at one of
the sites. Management reports these issues have been resolved.

Low wind conditions and downtime at four of the eight wind farms
resulted in a material erosion in cash flow with the 2015 annual
DSCR at about 0.90x for the Opco. Cash flow was supplemented with
cash on hand to meet the 2015 debt service payment. Holdco met
annual debt service with a cash distribution provided by the OpCo
in the first half of 2015. The Opco trapped cash thereafter as the
project did not meet the distribution test, and the Holdco will
rely on cash reserves for its next scheduled debt service payment.
The project had previously demonstrated robust financial
performance in 2014 with an Opco DSCR of nearly1.60x and a Holdco
DSCR of nearly1.40x. Excluding proceeds from the sale of the
Wyoming wind farm, the 2014 Opco DSCR would have been approximately
1.40x.

The February 2016 DSCR may be strained below 1.0x prior to
completion of structural repairs around the end of June 2016. Opco
financial and operational performance is expected to rebound
thereafter with base case DSCRs or more than 1.70x. Fitch's rating
case for the Opco projects an average DSCR of 1.34x through debt
maturity in 2024, which is in line with average historical
performance of 1.36x. DSCRs in the rating case are stressed in the
early years to an average of 1.16x between 2016 and 2018. In this
scenario, cash is trapped at the Opco and unavailable for Holdco
debt repayment, which will rely on available reserve funds.

Fitch will monitor whether the Opco performs closer to Fitch's base
case expectation, which would allow the Opco to meets its
distribution test and release cash to the Holdco by March 2017.
Fitch projects that, after this temporary decline through 2018, the
Opco DSCR profile should return to 1.22x or greater.

A solid liquidity position should support debt repayment for the
Opco during 2016 and help manage the timing of revenues and
expenditures. The Opco has $5 million in cash reserves as of
September 2015, which is roughly equal to the February 2016 debt
payment. A 12-month DSR equal to about $10 million, backed by a
letter of credit (LC), provides additional support. The project has
not yet tapped into its $15 million O&M reserve but it remains
available in the event of unforeseen maintenance activities at any
of the sites. There also remains $2 million in the major
maintenance reserve, though Fitch's analysis assumes the project
will draw most of these funds to support ongoing structural
repairs.

Mitigating the potential financial strain, the reserves and the LC
are guaranteed by NextEra Energy Capital Holdings, 'NextEra'
('A-'/Stable Outlook). Any draws on the reserves must be
replenished through the project's cash flow but there are no
required interest payments or established timeframes for
replenishment.

The Holdco has adequate liquidity to support debt service through
2018. The sponsor, NextEra, began prefunding Holdco in 2014 by
withholding equity distributions to support debt service through
2017. Additional liquidity equal to 12 months of debt service is
available in the form of a guarantee from NextEra, which would
support Holdco debt service through 2018, six months before the
March 2019 debt maturity. With remaining Holdco liquidity, the Opco
would need to be able to distribute cash to Holdco to support less
than six months of debt service under Fitch's rating case.

The Opco is a portfolio of eight operating wind farms with an
aggregate capacity of approximately 389.6 MW (previously 533.5 MW
including the 144 MW Wyoming project). Each project company is
wholly owned by the Opco and is otherwise unencumbered with
project-level indebtedness. All of the output of each wind farm is
committed under long term PPAs with counterparties that are
unaffiliated with the Opco.

Under the agreements, the Opco generally receives a fixed-energy
price for all energy produced by the wind farm, and the
counterparty generally pays all costs associated with transmission
and scheduling. Distributions from the Opco are the Holdco's sole
source of revenues. The HoldCo is an indirect, wholly owned
subsidiary of NextEra Energy Capital Holdings, Inc. 'NextEra'
(rated 'A-' with a Stable Outlook by Fitch).



FRONTIER STAR: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Frontier Star 1, LLC
        5210 South Priest Drive
        Tempe, AZ 85283-1431

Case No.: 15-14679

Chapter 11 Petition Date: November 17, 2015

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

Judge: Hon. Daniel P. Collins

Debtor's Counsel: Thomas J. Salerno, Esq.
                  STINSON LEONARD STREET, LLP
                  1850 N Central Ave., Ste. 2100
                  Phoenix, AZ 85004
                  Tel: 602-212-8508
                  Fax: 602-240-6925
                  Email: thomas.salerno@stinsonleonard.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Jason LeVecke, CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/azb15-14679.pdf


GENERAL MOTORS: New GM's Liability for Punitive Damages Limited
---------------------------------------------------------------
In a Decision dated November 9, 2015, which is available at
http://is.gd/nyvtO5from Leagle.com, Judge Robert E. Gerber of the
United States Bankruptcy Court for the Southern District of New
York ruled:

   (1) Under the April Decision and Judgment, knowledge of
personnel of New General Motors, whenever acquired, may be imputed
to New GM. But knowledge of Old GM personnel may not be imputed to
New GM except on assumed Product Liabilities Claims or to the
extent that it can be shown (e.g., because it is the knowledge of
the same employee or because it was communicated to a New GM
employee) that New GM had such knowledge too. Likewise, to the
extent, as a matter of nonbankruptcy law, that knowledge may be
imputed as a consequence of documents in a company's files,
documents in New GM's files may be utilized as a predicate for such
knowledge, even if they first came into being before the sale from
Old GM to New GM. By reason of the Court's limited gatekeeper role,
allegations of that knowledge or notice, even if alleged in general
terms, can pass through the gate, with nonbankruptcy courts
determining the extent to which they have been alleged sufficiently
specifically to warrant findings of imputation.

   (2) The Court cannot agree with the plaintiffs'(and especially
the States of California and Arizona) contentions that the Sale
Agreement unambiguously provides that New GM assumed punitive
damages obligations. At best, it is ambiguous. And to the extent
the Sale Agreement is ambiguous, the indicia of intent strongly
come down against New GM's assumption of punitive damages
obligations premised on anything other than its own knowledge and
conduct. Thus New GM did not contractually assume liability for
punitive damages based on Old GM knowledge or conduct. Nor is New
GM liable for punitive damages based on Old GM conduct under other
theories, such as by operation of law as a result of New GM's
assumption of certain liabilities for compensatory damages.
Consequently, under the April Decision and Judgment, punitive
damages may not be premised on Old GM knowledge or conduct, or
anything else that took place at Old GM. Punitive damages may be
sought against New GM to the extent—but only the extent—they
are based on New GM knowledge and conduct alone.

   (3) Allegations in the Bellwether Actions Complaints, MDL
Complaint, Peller Complaints, and the other complaints may proceed
to the extent, but only the extent, they are consistent with the
rulings above, and their allegations are pruned, to the extent
necessary, so as not to include allegations prohibited in that
discussion.

This ruling relates to the contested matter in the Chapter 11 case
of Motors Liquidation Company, previously known as General Motors
Corporation, where the Court is asked to address litigation brought
against General Motors LLC, the buyer of Old GM's assets in a
free-and-clear sale.  After having entered a judgment, dated June
1, 2015 implementing its April 2015 decision addressing the
litigation flowing from New GM's announcement of a defect in
ignition switches installed in certain GM branded cars, the Court
now must determine the extent to which the April Decision and
Judgment bar particular claims (and particular allegations) in
complaints in other courts in which claims are asserted against New
GM.

The parties are encouraged to agree upon a form of judgment
implementing these rulings, without prejudice to anyone's right to
appeal or cross-appeal. In the event of an inability to timely
agree, anyone may settle a judgment, provided that notice of
settlement allows no less than five business days' notice to
comment on the form of judgment submitted, or submit a
counter-judgment. For the avoidance of doubt, the time to appeal
these rulings will run from the time of entry of the resulting
judgment, and not from the date of this Decision.

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

Motors Liquidation Company, Debtor, represented by Donald F. Baty
Jr., Esq. -- dbaty@honigman.com -- Honigman Miller Schwartz and
Cohn, LLP, David R. Berz, Esq. -- david.berz@retired.weil.com --
Weil Gotshal & Manges, LLP, Judy B. Calton, Esq. --
jcalton@honigman.com --  Honigman Miller Schwartz and Cohn, LLP,
Stephen Karotkin, Esq. -- stephen.karotkin@retired.weil.com --
Weil, Gotshal & Manges LLP, Deborah Kovsky-Apap, Esq. --
kovskyd@pepperlaw.com -- Pepper Hamilton LLP, Robert J. Lemons,
Esq. -- robert.lemons@retired.weil.com -- Weil, Gotshal & Manges
LLP, Harvey R. Miller, Esq. -- harvey.miller@retired.weil.com --
Weil, Gotshal & Manges LLP, Daniel R. Murray, Esq. -- Jenner &
Block, LLP, Joseph R. Sgroi, Esq. -- jsgroi@honigman.com --
Honigman Miller Schwartz and Cohn LLP, Tricia A. Sherick, Esq. --
tsherick@honigman.com -- Honigman Miller Schwartz and Cohn, LLP,
Joseph H. Smolinsky, Esq. -- joseph.smolinsky@retired.weil.com --
Weil, Gotshal & Manges LLP, Patrick J. Trostle, Jenner & Block LLP,
Robert B. Weiss, Esq. -- rweiss@honigman.com --Honigman Miller
Schwartz & Cohn, LLP.

Wilmington Trust Company, Trustee, represented by Lisa H. Rubin,
Esq. -- lrubin@gibsondunn.com -- Gibson, Dunn & Crutcher LLP, Aric
Wu, Esq. -- awu@gibsondunn.com -- Gibson, Dunn & Crutcher LLP.

Official Committee of Unsecured Creditors of General Motors
Corporation, Creditor Committee, represented by Philip Bentley,
Esq. -- pbentley@kramerlevin.com -- Kramer, Levin, Naftalis &
Frankel, LLP, David E. Blabey, Esq. -- dblabey@kramerlevin.com --
Kramer, Levin, Naftalis & Frankel, LLP, Amy Caton, Esq. --
acaton@kramerlevin.com -- Kramer, Levin, Naftalis & Frankel, LLP,
Eric Fisher, Esq. -- fishere@dicksteinshapiro.com -- Dickstein
Shapiro LLP, Lauren Macksoud, Esq. -- lmacksoud@kramerlevin.com --
Kramer, Levin, Naftalis & Frankel, LLP, Thomas Moers Mayer, Esq. --
tmayer@kramerlevin.com -- Kramer Levin Naftalis & Frankel, LLP,
Gregory G. Plotko, Esq. -- gplotko@kramerlevin.com -- Kramer,
Levin, Naftalis & Frankel, LLP, Adam C. Rogoff, Esq. --
arogoff@kramerlevin.com -- Kramer, Levin, Naftalis & Frankel, LLP,
Robert T. Schmidt, Esq. -- rschmidt@kramerlevin.com -- Kramer,
Levin, Naftalis & Frankel, LLP, Jennifer Sharret, Esq. --
jsharret@kramerlevin.com -- Kramer, Levin, Naftalis & Frankel,
LLP.

              About Motors Liquidation

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

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

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

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

As of June 30, 2015, Motors Liquidation had $860 million in total
assets, $74 million in total liabilities and $786 million in net
assets in liquidation.


GENESYS RESEARCH: Trustee Taps Verdolino & Lowey as Accountants
---------------------------------------------------------------
Harold B. Murphy, the Chapter 11 trustee of Genesys Research
Institute, Inc., asks the U.S. Bankruptcy Court for the District of
Massachusetts for permission to employ the firm of Verdolino &
Lowey, P.C., as his accountants and financial advisors.

V&L is expected to, among other things:

   a. prepare, review and analyze projected cash-flow projections
and budget to actual monitoring of the Estate's activity

   b. assist in negotiating with creditors, including secured
creditors; and

   c. assist with regard to accounting and accounting system
matters.

Subject to the Court's approval, V&L will be compensated for its
services at its ordinary and customary hourly rates in effect at
the time the services are rendered, and will be reimbursed for its
cash disbursements and for reasonable and necessary expenses.

To the best of the Trustee's knowledge, V&L does not hold or
represent any interest adverse to the estate of the Debtor or its
creditors in the matters upon which it has been and is to be
retained.

                 GeneSys Research Institute

GeneSys Research Institute, Inc. filed a Chapter 11 bankruptcy
petition (Bankr. D. Mass Case No. 15-12794) on July 14, 2015.  The
petition was signed by Robert Stemple, clerk and treasurer.  Parker
& Associates serves as the Debtor's counsel.  The Debtor estimated
assets of $10 million to $50 million and liabilities of at least $1
million.  The case is assigned to Judge Joan N. Feeney.  On Oct.
28, 2015, Harold B. Murphy accepted his appointment as Chapter 11
trustee of the Debtor.


GERARD LEONARD ROY: Indicted on Fraud and Money Laundering Charges
------------------------------------------------------------------
Adam Sege at Bankruptcy Law360 reported that a Minnesota
construction contractor has been indicted on federal fraud and
money laundering charges for allegedly using fraudulent bid and
bond documents in pursuit of government and commercial contracts,
authorities said on Nov. 10.

A grand jury returned a 13-count indictment late Nov. 9, charging
53-year-old Gerard Leonard Roy in what officials say was a scheme
to win contracts for which he was not eligible, according to the
office of U.S. Attorney Andrew M. Luger.


HAGGEN HOLDINGS: Gelson's Wins Final Approval to Buy 6 Properties
-----------------------------------------------------------------
Gelson's Markets, one of California's premier supermarket chains,
has won final approval to buy six Haggen properties in Southern
California, it was announced on Nov. 16 by Gelson's President & CEO
Rob McDougall.  Terms of the agreement were not announced.

Gelson's successfully bid on the following six Haggen stores across
five counties:

Los Angeles County: 2627 Lincoln Blvd., Santa Monica
Orange County: 25636 Crown Valley Parkway, Ladera Ranch
Riverside County: 36-101 Bob Hope Drive, Rancho Mirage
San Diego County: 2707 Via De La Valle, Del Mar; 730 Turquoise
Street, San Diego
Ventura County: 1736 Avenida De Los Arboles, Thousand Oaks

"We're excited to become part of these communities, a process that
may take time in order to customize stores for each neighborhood,"
said McDougall.  "Our goal is to retain as many local Haggen
workers as possible while also giving opportunities to existing
Gelson's employees, as well as others who wish to join the Gelson's
family."

Haggen filed for Chapter 11 bankruptcy this past September.
Gelson's was selected as Stalking Horse bidder in mid-October and
anticipates closing on the stores late this year.  Gelson's plans
to relaunch its purchased stores early next year under its own
brand with initial improvements to product selection and
merchandising, followed several months later by redesign and
construction.  Existing pharmacies will remain open during the
transition.  In addition to the newly acquired locations, Gelson's
is on track to open new stores in Rancho Mission Viejo and
Manhattan Beach.

Founded in 1951, Gelson's -- http://www.gelsons.com-- currently
operates 18 full-service specialty grocery stores in Southern
California.  Each Gelson's Market features the full amenities of a
traditional supermarket, with the local flavor of a neighborhood
market.  Their high standards -- for quality, value and freshness;
unsurpassed service; and attention to detail -- define the ultimate
grocery shopping experience.  With over 60 years of experience,
Gelson's in-house experts know Southern California's lifestyle and
are driven to find only the best foods and exclusive values for
their customers.  Gelson's is particularly known for flavorful,
hand-selected produce, the best and freshest cuts of meat and
seafood, and Chef-prepared signature recipes.  This experience is
rounded out by professionally designed floral arrangements, and a
convenient selection of the highest quality grocery items.

                      About Haggen Holdings

Headquartered in Bellingham, Washington, Haggen was founded in 1933
as a single grocery store.  From 1933 to 2014, Haggen grew into a
30 store family-run grocery chain, with stores located in the
northwestern United States.  From 2011 to 2014, Haggen reduced its
store base to 18, including a stand-alone pharmacy location.
Haggen rapidly expanded in 2014 and 2015, and, as of the Petition
Date, Haggen owned and operated 164 stores through three operating
companies: Haggen, Inc., Haggen Opco North, LLC and Haggen Opco
South, LLC.

Haggen Holdings, LLC, and its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 15-11874 to
15-11879) on Sept. 8, 2015, with the intention of reorganizing, or
selling as a going concern, their stores for the benefit of their
creditors.

The petitions were signed by Blake Barnett, the chief financial
officer.

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

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


HII TECHNOLOGIES: Creditors' Committee Taps Locke Lord as Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of HII Technologies, Inc., et al., asks the U.S. Bankruptcy
Court for the Southern District of Texas for permission to retain
Locke Lord LLP as its counsel.

Locke Lord will perform these services:

   a) provide legal advice as necessary with respect to the
Committee's powers and duties as an official committee;

   b) assist the Committee in investigating the acts, conduct,
assets, liabilities, and financial condition of the Debtors, the
operation of the Debtors' businesses, potential claims, and any
other matters relevant to the cases, including the sale of the
Debtors' assets or the formulation of a plan of reorganization;
and

   c) provide legal advice as necessary with respect to any
disclosure statement and Plan filed in the cases and with respect
to the process for approving or disapproving disclosure statements
and confirming or denying confirmation of a Plan.

In a supplemental declaration, W. Steven Bryant, a partner at Locke
Lord, said that he and Elizabeth M. Guffy, a partner and a senior
counsel, will co-manage Locke Lord's engagement by the
Committee.  Philip G. Eisenberg, a partner, will act as billing and
principal supervising attorney for the matter.  Other attorneys and
paralegals will assist Mr. Bryant and Ms. Guffy in the engagement
as may be necessary from time to time.

The hourly rates are of the attorneys are:

         Name              Position                 Hourly Rate
         ----              --------                 -----------
   Mr. Bryant              Partner                    $475
   Steven William Golden   Associate                  $295
   Elizabeth M. Guffy      Senior Counsel             $600

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

Locke Lord's contact is:

         W. Steven Bryant, Esq.     
         Elizabeth M. Guffy, Esq.
         Locke Lord LLP
         600 Travis Street, Suite 2800
         Houston, TX 77702
         Tel: (713) 226-1328
         Fax: (713) 226-2647
         E-mails: sbryant@lockelord.com
                  eguffy@lockelord.com

                      About HII Technologies

HII Technologies, Inc., Apache Energy Services, LLC, Aqua Handling
of Texas, LLC, Hamilton Investment Group, Inc., and Sage Power
Solutions, Inc., filed Chapter 11 bankruptcy petitions (Bankr.
S.D.
Tex. proposed lead case No. 15-60070) on Sept. 18, 2015.  Judge
David R Jones is assigned to the cases.

HII Technologies (HIITQ) is a publicly-traded oilfield services
company which entered the hydraulic fracturing water management
business via acquisition of Apache Energy Services dba AES Water
Solutions in September 2012.

HII Technologies currently has only one employee, its CEO, Matt
Flemming.

HII Technologies reported assets of $17.6 million and liabilities
of $26.5 million as of July 31, 2015.

The Debtors tapped McKool Smith P.C. as counsel, and Stout Risius
Ross, Inc. for management and restructuring services.

Judy A. Robbins, U.S. for Region 7, appointed three persons to
serve in the Official Committee of Unsecured Creditors.


HII TECHNOLOGIES: Indeglia & Carney Okayed as Securities Counsel
----------------------------------------------------------------
The Hon. David R. Jones at the U.S. Bankruptcy Court for the
Southern District of Texas authorized HII Technologies, Inc., et
al., to employ Indeglia & Carney, LLP as corporate and securities
counsel nunc pro tunc to the Petition Date.

The Debtors related that the employment of Indeglia & Carney is
essential to enable them to comply with their corporate and
securities law obligations, including, without limitation,
compliance with the Securities Act and the Exchange Act, and
preserve the value of their assets, and is in the best interest of
the Debtor's estate.

Indeglia & Carney has acted as HII's corporate and securities
counsel since 2002.  They have participated in all of HII's SEC
Reports since 2002 and are familiar with the Debtors' businesses.
They are most able to assist HII with its corporate and securities
law obligations.

The primary attorneys who will represent the Debtor and their
hourly rates are:

         Marc A. Indeglia                     $475
         Gregory R. Carney                    $445
         E. Jayson Nayagam                    $175

Mr. Indeglia filed a declaration in support of the application,
stating that Indeglia & Carney will seek approval of payment of
compensation and reimbursement of actual, necessary expenses and
other charges.

As of the Petition Date, the Debtors owed Indeglia & Carney
$119,709 for legal services rendered before the Petition Date.

Indeglia & Carney has been paid $259,120 during the one year period
prior to the Petition Date as compensation for services rendered
and costs incurred.

To the best of the Debtors' knowledge, the members and other
attorneys and professionals at Indeglia & Carney do not have any
interest adverse to the Debtors in respect of the matters on which
it is to be retained.

                      About HII Technologies

HII Technologies, Inc., Apache Energy Services, LLC, Aqua Handling
of Texas, LLC, Hamilton Investment Group, Inc., and Sage Power
Solutions, Inc., filed Chapter 11 bankruptcy petitions (Bankr. S.D.
Tex. proposed lead case No. 15-60070) on Sept. 18, 2015.  Judge
David R Jones is assigned to the cases.

HII Technologies (HIITQ) is a publicly-traded oilfield services
company which entered the hydraulic fracturing water management
business via acquisition of Apache Energy Services dba AES Water
Solutions in September 2012.

HII Technologies currently has only one employee, its CEO, Matt
Flemming.

HII Technologies reported assets of $17.6 million and liabilities
of $26.5 million as of July 31, 2015.

The Debtors tapped McKool Smith P.C. as counsel, and Stout Risius
Ross, Inc. for management and restructuring services.

Judy A. Robbins, U.S. for Region 7, appointed three persons to
serve in the Official Committee of Unsecured Creditors.  The
Committee tapped Locke Lord LLP as its counsel.


HOVENSA LLC: JKD Seeks Payment of Claim from Sale Proceeds
----------------------------------------------------------
The Law Offices of John K. Dema P.C. has said it opposes the
distribution of proceeds from the sale of Hovensa LLC's assets
without payment in full of its claim.

In a court filing, the law firm said it does not oppose the sale of
most of Hovensa's assets but the company should either pay in full
its claim or grant the firm "adequate protection" by establishing
an $8.97 million escrow from the proceeds.   

Hovensa owes the firm as much as $8.97 million as of Sept. 15,
2015.

The company also received an objection from the official committee
of unsecured creditors.  In its objection, the committee emphasized
the importance of competitive bidding to maximize the value to be
received by unsecured creditors.

Hovensa on Sept. 15 filed a motion with the District Court
of the Virgin Islands, Bankruptcy Division, to approve the sale of
its crude oil and product storage and terminal business to Limetree
Bay Holdings LLC for $184 million or to another bidder with a
better offer.  

On Oct. 9, the court issued an order approving the bidding
procedures.  The order also authorized the payment of break-up fee
in the amount of $4.7 million and expense reimbursement of up to
$1.9 million.

                            About Hovensa

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

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

Judge Mary F. Walrath is assigned to the case.  The Law Offices of
Richard H. Dollison, P.C., serves as the Debtor's counsel.  Prime
Clerk LLC is the Debtor's claims and noticing agent.  Alvarez &
Marsal North America, LLC to provide Thomas E. Hill as chief
restructuring officer, effective Sept. 15, 2015 petition date.

The U.S. Trustee appointed five creditors to serve on the committee
of creditors holding unsecured claims.


HOVENSA LLC: Judge Extends Deadline to Remove Suits to March 14
---------------------------------------------------------------
U.S. Bankruptcy Judge Mary Walrath has given Hovensa LLC until
March 14, 2016, to file notices of removal of lawsuits involving
the company.

Hovensa did not receive objections to the extension of the
deadline, court filings show.

                            About Hovensa

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

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

Judge Mary F. Walrath is assigned to the case.  The Law Offices of
Richard H. Dollison, P.C., serves as the Debtor's counsel.  Prime
Clerk LLC is the Debtor's claims and noticing agent.  Alvarez &
Marsal North America, LLC to provide Thomas E. Hill as chief
restructuring officer, effective Sept. 15, 2015 petition date.

The U.S. Trustee appointed five creditors to serve on the committee
of creditors holding unsecured claims.


HOWREY LLP: Conversion to Ch. 7 Likely Over Rent Claims Impasse
---------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that a California
bankruptcy judge has indicated he will grant a request to convert
Howrey LLP's bankruptcy case into a Chapter 7 liquidation later
this week after the trustee overseeing the shuttered law firm and
its creditors told the court that he couldn't reach a deal related
to former landlords' rent claims.

In a tentative ruling issued on Nov. 7, 2015, U.S. Bankruptcy Judge
Dennis Montali said he will grant the trustee and creditors' motion
to convert the case to a Chapter 7 on Nov. 6, "unless a
party-in-interest adequately explains.

                       About Howrey LLP

Three creditors filed an involuntary Chapter 7 petition (Bankr.
N.D. Cal. Case No. 11-31376) on April 11, 2011, against the
remnants of the Washington-based law firm Howrey LLP.  The filing
was in San Francisco, where the firm had an office.  The firm
previously was known as Howrey & Simon and Howrey Simon Arnold &
White LLP.  The firm at one time had more than 700 lawyers in 17
offices.  The partners voted to dissolve in March 2011.

The firm specialized in antitrust and intellectual-property
matters.  The three creditors filing the involuntary petition
together have $36,600 in claims, according to their petition.

The involuntary chapter 7 petition was converted to a chapter 11
case in June 2011 at the request of the firm.  In its schedules
filed in July, the Debtor disclosed assets of $138.7 million and
liabilities of $107.0 million.

Representing Citibank, the firm's largest creditor, is Kelley
Cornish, Esq., a partner at Paul, Weiss, Rifkind, Wharton &
Garrison.  Representing Howrey is H. Jason Gold, Esq., a partner
at Wiley Rein.

The Official Committee of Unsecured Creditors is represented in
the case by Bradford F. Englander, Esq., at Whiteford, Taylor And
Preston LLP.

In September 2011, Citibank sought conversion of the Debtor's case
to Chapter 7 or, in the alternative, appointment of a Chapter 11
Trustee.  The Court entered an order appointing a Chapter 11
Trustee. In October 2011, Allan B. Diamond was named as Trustee.
He is represented by Andrew Baxter Ryan, Esq., and Stephen Todd
Loden, Esq., at Diamond McCarthy LLP as counsel.


IMAGEWARE SYSTEMS: Delays Third Quarter Form 10-Q
-------------------------------------------------
ImageWare Systems, Inc., disclosed in a regulatory filing with the
Securities and Exchange Commission it was unable to compile certain
information required to prepare a timely filing of its quarterly
report for the period ended Sept. 30, 2015.

                      About ImageWare Systems

Headquartered in San Diego, California, ImageWare Systems, Inc.,
is a leader in the emerging market for software-based identity
management solutions, providing biometric, secure credential, law
enforcement and enterprise authorization.  Its "flagship" product
is the IWS Biometric Engine.  Scalable for small city business or
worldwide deployment, the Company's biometric engine is a multi-
biometric platform that is hardware and algorithm independent,
enabling the enrollment and management of unlimited population
sizes.  The Company's identification products are used to manage
and issue secure credentials, including national IDs, passports,
driver licenses, smart cards and access control credentials.  Its
law enforcement products provide law enforcement with integrated
mug shot, fingerprint LiveScan and investigative capabilities.
The Company also provides comprehensive authentication security
software.

Imageware Systems incurred a net loss of $9.84 million in 2013, a
net loss of $10.2 million in 2012 and a net loss of $3.18 million
in 2011.

As of June 30, 2015, the Company had $11.1 million in total assets,
$3.7 million in total liabilities and $7.4 million in total
shareholders' equity.


IMPLANT SCIENCES: Needs More Time to File Q3 Form 10-Q
------------------------------------------------------
Implant Sciences Corporation disclosed it was unable to prepare its
accounting records and schedules in sufficient time to enable its
independent registered public accounting firm to complete its
review of the Company's financial statements to be contained in
quarterly report on Form 10-Q for the quarter ended Sept. 30, 2015.
It is anticipated that the Form 10-Q, along with the unaudited
financial statements, will be filed within the five-day extension
period.  

The Company anticipates reporting net loss of approximately
$911,000 on revenues of approximately $14,393,000 for the three
months ended Sept. 30, 2015, as compared to a net loss of
$5,375,000 on revenues of approximately $1,869,000 for the
corresponding prior year period.

                       About Implant Sciences

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

As of June 30, 2015, the Company had $10.4 million in total assets,
$88.6 million in total liabilities and a $78.2 million total
stockholders' deficit.

Marcum LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2015, citing that the Company has had recurring net
losses and continues to experience negative cash flows from
operations.  As of Sept. 15, 2015, the Company's principal
obligation to its primary lenders was approximately $65,046,000 and
accrued interest of approximately $15,393,000.  The Company is
required to repay all borrowings and accrued interest to these
lenders on March 31, 2016.  These conditions raise substantial
doubt about its ability to continue as a going concern.

                        Bankruptcy Warning

"Our ability to comply with our debt covenants in the future
depends on our ability to generate sufficient sales and to control
expenses, and will require that we seek additional capital through
private financing sources.  There can be no assurances that we will
achieve our forecasted financial results or that we will be able to
raise additional capital to operate our business.  Any such failure
would have a material adverse impact on our liquidity and financial
condition and could force us to curtail or discontinue operations
entirely.  Further, upon the occurrence of an event of default
under certain provisions of our credit agreements, we could be
required to pay default rate interest equal to the lesser of 2.5%
per month and the maximum applicable legal rate per annum on the
outstanding principal balance outstanding.  The failure to
refinance or otherwise negotiate further extensions of our
obligations to our secured lenders would have a material adverse
impact on our liquidity and financial condition and could force us
to curtail or discontinue operations entirely and/or file for
protection under bankruptcy laws," the Company states in its annual
report for the year ended June 30, 2015.


KITTUSAMY LLP: Kolesar & Leatham Okayed as Bankruptcy Counsel
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Nevada authorized
Kittusamy, LLP, to employ Kolesar & Leatham as general bankruptcy
and reorganization counsel.

Bart K. Larsen, Esq., stated that no party appeared at the hearing
or filed an objection to the motion to employ Kolesar & Leatham
under general retainer.

In its prior order, the Court conditioned the employment upon
Kolesar and Leatham filing a supplement to the application
explaining the amount of retainer received by the firm, as the
retainer agreement included at Exhibit 1 to the Larsen Declaration
listed a retainer amount of $70,000, and the application, Larsen
Declaration, and Disclosure of Compensation of attorney for
Debtor(s) listed a retainer in the amount of $100,000.  Kolesar and
Leatham filed the requested supplement on Oct. 5, 2015.

In a first supplement to the application, Kolesar & Leatham said
the Debtor engaged Kolesar & Leatham on June 12, to represent it in
reorganizing its affairs through filing a voluntary petition for
relief under Chapter 11 of Bankruptcy Code.  At that time, Kolesar
& Leatham requested and received a retainer in the amount of
$70,000.  Shortly thereafter, an involuntary chapter 11 petition
was filed against the Debtor on July 2.

In light of the filing of the involuntary petition and the
potential that the Debtor could incur additional fees and costs
associated therewith, Kolesar & Leatham requested and received an
additional retainer of $30,000 from the Debtor on July 17.  The
payment and timing of both retainers were disclosed in the Debtor's
Statement of Financial Affairs filed on Aug. 24.

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

The firm can be reached at:

         Bart K. Larsen, Esq.
         Jason M. Bacigalupi, Esq.
         Vincent J. Aiello, Esq.
         KOLESAR & LEATHAM
         400 South Rampart Boulevard, Suite 400
         Las Vegas, NV 89145
         Tel: (702) 362-7800
         Fax: (702) 362-9472
         E-mails: blarsen@klnevada.com
                  jbacigalupi@klnevada.com
                  vaiello@klnevada.com

                       About Kittusamy, LLP

Kittusamy, LLP, doing business as Las Vegas Medical Centers, is
subject to an involuntary Chapter 11 bankruptcy petition filed by
creditors owed $6.93 million on business loans and an equipment
lease.

The creditors who signed the petition are Moonshell, LLC,   
Xspectra, Inc., Seven Hills Equipment, LLC, and Venus Group, LLC.

Moonshell and Venus are represented by Samuel A. Schwartz, Esq., at
Schwartz Flansburg PLLC.   Xspectra and Seven Hills are represented
by Matthew C. Zirzow, Esq., at Larson & Zirzon, LLC.

The Debtor, in its amended schedules, disclosed total assets of  
$13,753,362 and total liabilities of $16,015,413.  In its previous
schedules, it disclosed total assets of $11,753,362 and total
liabilities of $16,015,411 as of the Petition Date.


LIGHTSQUARED INC: Closer to Transferring Airwaves
-------------------------------------------------
Todd Shields, writing for Bloomberg Brief - Distress & News,
reported that LightSquared Inc. moved closer to winning approval
from U.S. regulators for JPMorgan Chase & Co. and others to take
over its airwaves, a step the wireless company is seeking as it
emerges from bankruptcy.

According to the report, Federal Communications Commission Chairman
Tom Wheeler on Nov. 13 asked the agency to approve LightSquared's
request, said an official familiar with the action.  The matter
goes to a vote by the FCC's five commissioners, who include
Wheeler.  The report noted that LightSquared's plan to use its
airwaves to operate a satellite and mobile phone network remains
under consideration at the FCC without a deadline for action.  The
FCC rejected a similar plan in 2012, saying it would interfere with
GPS technology, the report recalled.

LightSquared wants the FCC to approve transferring spectrum
licenses to its new owners: JPMorgan, Fortress Investment Group LLC
and Centerbridge Partners LP, which are taking control from
Harbinger Capital Partners Funds, the report related.

                  About LightSquared Inc.

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

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

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with
liquidity and runway necessary to resolve its issues with the FCC.
Despite working diligently and in good faith, however,
LightSquared and the lenders were not able to consummate a global
restructuring on terms acceptable to all interested parties.

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

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

                          *     *     *

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


MAJOR LEAGUE: Trustee Says Agent Can't Arbitrate $3M Contract Row
-----------------------------------------------------------------
Jeff Zalesin at Bankruptcy Law360 reported that the trustee for a
bankrupt sports management company told a Florida federal judge on
Nov. 9, 2015, that a $3 million dispute over prebankruptcy
transfers of Major League Baseball players' agency contracts does
not belong in arbitration, since the trustee is standing in for
creditors who never agreed to an arbitration pact.

Soneet Kapila, the Chapter 7 trustee for Jaime Torres Sports
Management Inc., said that U.S. Bankruptcy Judge Robert A. Mark
correctly refused to compel arbitration in his adversary case.


MIH ADMIN SERVICES: Case Summary & 20 Top Unsecured Creditors
-------------------------------------------------------------
Debtor: MIH Admin Services, LLC
        5210 South Priest Drive
        Tempe, AZ 85283-1431

Case No.: 15-14682

Chapter 11 Petition Date: November 17, 2015

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

Judge: Hon. Paul Sala

Debtor's Counsel: Thomas J. Salerno, Esq.
                  STINSON LEONARD STREET, LLP
                  1850 N Central Ave., Ste. 2100
                  Phoenix, AZ 85004
                  Tel: 602-212-8508
                  Fax: 602-240-6925
                  Email: thomas.salerno@stinsonleonard.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Jason LeVecke, CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/azb15-14682.pdf


MOLYCORP INC: Ordered Into Mediation With Creditors
---------------------------------------------------
Steven Church, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that the judge overseeing Molycorp Inc.'s bankruptcy
ordered the mining company into mediation with its three main
creditor groups after two of the groups accused the rare-earths
producer of running a sham sale process that only benefits the
third: senior lender Oaktree Capital Group LLC.

According to the report, Molycorp arrived in court on Nov. 16
prepared to fight efforts to strip it of the exclusive right to
file a reorganization plan and solicit creditor votes.  Creditors
say the proposal gives veto power to Oaktree and makes it
impossible to persuade potential buyers to join an auction for
Molycorp, 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.


MOLYCORP INC: Some Creditors Cry Foul Over Bankruptcy Plan
----------------------------------------------------------
ABI.org reported that Molycorp Inc.'s bondholders and unsecured
creditors are in full revolt against the rare-earths company's
version of a turnaround, challenging the company's right to stay in
control of its chapter 11 bankruptcy.

                        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.



MOLYCORP: Seeks Approval of Modified Employee Incentive Program
---------------------------------------------------------------
Molycorp, Inc., asks the U.S. Bankruptcy Court for the District of
Delaware to approve a modified Key Employee Incentive Program for
its seven most senior executives.

The Debtors relate that in the Court's ruling on the First KEIP,
the Court identified two features of the original proposed key
employee incentive plan ("Original KEIP") that on balance rendered
the Original KEIP more retention based than incentive based -- the
LOP Metric and the Restructuring Metric.  The Debtors further
relate that the Original KEIP has been altered to address the two
principal issues raised by the Court by (a) removing the LOP Metric
and replacing it with a metric requiring the achievement of actual,
measurable operating cash flow results at the Mountain Pass
Facility over the next three months ("Mountain Pass Cash Flow
Metric") and (b) eliminating the Restructuring Metric entirely for
the time being, and making a corresponding reduction in the overall
size of the awards available under the Modified KEIP.

The Debtors tell the Court that the Mountain Pass Cash Flow Metric
now only applies to the executive that is tasked with properly
implementing the LOP and overseeing the continued work at the
Mountain Pass Facility in connection with property maintaining the
facility in a state of care and maintenance.  The Debtors further
tell the Court that for the executive who previously had 35% of his
potential KEIP award tied to the achievement of the LOP Metric, the
Debtors have reallocated that portion of the potential incentive
award to the Cash Balance Metric and the achievement of the
Business Unit Metrics for the Debtors' Rare Metals Business Unit.
The Debtors contend that the temporary elimination of the
Restructuring Metric will result in the reduction of the aggregate
target Total Direct Compensation for the three executives
originally eligible for the award by $389,000.  The Debtors further
contend that they will continue to seek feedback from major
creditor groups on the form of an appropriate restructuring or sale
metric, and are reserving the right to seek the Court's approval of
such a metric at a later date.

Molycorp is represented by:

          M. Blake Cleary, Esq.
          Edmon L. Morton, Esq.
          Justin H. Rucki, Esq.
          Ashley E. Jacobs, Esq.
          YOUNG CONAWAY STARGATT & TAYLOR, LLP
          Rodney Square
          1000 North King Street
          Wilmington, DE 19801
          Telephone: (302)571-6600
          Facsimile: (302)571-1253
          E-mail: mbcleary@ycst.com
                  emorton@ycst.com
                  jrucki@ycst.com
                  ajacobs@ycst.com

               - and -

          Paul D. Leake, Esq.
          Lisa Laukitis, Esq.
          George R. Howard, Esq.
          JONES DAY
          222 East 41st Street
          New York, NY 10017
          Telephone: (212)326-3939
          Facsimile: (212)755-7306
          E-mail: pdleake@jonesday.com
                  llaukitis@jonesday.com
                  grhoward@jonesday.com

               - and -

          Brad B. Erens, Esq.
          Joseph M. Tiller, Esq.
          JONES DAY
          77 West Wacker
          Chicago, IL 60601
          Telephone: (312)782-3939
          Facsimile: (312)782-8585
          E-mail: bberens@jonesday.com
                  jtiller@jonesday.com

                       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: Closes Sale of 100,000 Units for $250,000
--------------------------------------------------------
Monaker Group, Inc., on Nov. 3, 2015, closed an offering of an
aggregate of 100,000 units to Monaco Investment Partners II, LP, an
accredited investor, 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 (1)
share of Common Stock at an exercise price of $1.50 per share, for
aggregate cash proceeds of $250,000.  Donald P. Monaco, a member of
the Company's Board of Directors, is the managing general partner
of Monaco Investments.

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 is offering for sale up to 300,000 Units for gross proceeds
of $750,000.  To date, the Company has issued an aggregate of
200,000 Units for aggregate cash proceeds of $500,000.  All 200,000
Units have been issued to Monaco Investments.  The private
placement is currently scheduled to terminate on Dec. 4, 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 $50,500 on $1.1 million
of total revenue for the year ended Feb. 28, 2015, compared with a
net loss of $18.3 million on $1.5 million of total revenues for the
year ended Feb. 28, 2014.

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 $5.44 million and net cash used in operations
of $2.62 million for the year ended Feb. 28, 2015, and the Company
had an accumulated deficit of $86.1 million and a working capital
deficit of $12.8 million at Feb. 28, 2015.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


MURRAY CORP: Sales Said to Drop Amid Canceled Coal Contracts
------------------------------------------------------------
Laura J. Keller, writing for Bloomberg Brief - Distress &
Bankruptcy, reported that Murray Energy Corp., the miner founded
and run by Robert E. Murray, told creditors coal sales fell almost
9 percent in the third quarter, according to three people with
knowledge of the company's performance.

Net coal revenue dropped to about $713 million in the three months
ended Sept. 30 from $781 million a year earlier, the report said,
citing the people.  Sales this year fell 14 percent to $2.03
billion, the people said, the report related.

Murray told creditors on a conference call on Nov. 12 that adjusted
earnings before interest, taxes, depreciation and amortization rose
16.2 percent from a year earlier to $196.6 million, Bloomberg
further related, citing the people.  The increase came from about
$40 million the coal miner collected in
one-time fees from customers who terminated contracts, the people
said, the report added.

                      *     *     *

The Troubled Company Reporter, on Sept. 28, 2015, reported that
Moody's Investors Service downgraded the ratings of Murray Energy
Corporation, including corporate family rating (CFR) to B3 from B2,
probability of default rating (PDR) to B3-PD from B2-PD, first lien
term loan rating to B1 from Ba3, and the rating on second lien
senior secured notes to Caa1 from B3. The outlook is stable.


MUSCLEPHARM CORP: Wynnefield Holds 6.7% Stake as of Nov. 9
----------------------------------------------------------
As of Nov. 9, 2015, Wynnefield Partners Small Cap Value, L.P., et
al., beneficially owned in the aggregate 920,415 shares of common
stock of Musclepharm Corp., constituting approximately 6.7% of the
outstanding shares of Common Stock:

                                                    Percentage of
                             Number of               Outstanding
  Name                      Common Stock            Common Stock
  ----                      ------------            -------------
Wynnefield Partners            400,206                   2.9%
Small Cap Value, L.P.

Wynnefield Partners            258,655                   1.9%
Small Cap Value, L.P.

Wynnefield Small Cap           221,554                   1.6%
Value Offshore Fund, Ltd.

Wynnefield Capital, Inc.        40,000                    .3%
Profit Sharing Plan
                   
A copy of the regulatory filing is available for free at:

                        http://is.gd/nFpOap

                         About MusclePharm

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTC BB: MSLP) -- http://www.muslepharm.com/-- is a healthy life-
style company that develops and manufactures a full line of
National Science Foundation approved nutritional supplements that
are 100 percent free of banned substances.  MusclePharm is sold in
over 120 countries and available in over 5,000 U.S. retail
outlets, including GNC and Vitamin Shoppe.  MusclePharm products
are also sold in over 100 online stores, including
bodybuilding.com, Amazon.com and Vitacost.com.

MusclePharm Corporation reported a net loss of $13.8 million in
2014, a net loss of $17.7 million in 2013 and a net loss of $19
million in 2012.

As of Sept. 30, 2015, the Company had $62.24 million in total
assets, $67.79 million in total liabilities and a $5.54 million
total stockholders' deficit.


NEONODE INC: Incurs $1.36 Million Net Loss in Third Quarter
-----------------------------------------------------------
Neonode Inc. filed with the Securities and Exchange Commission its
quarterly report on Form 10-Q disclosing a net loss attributable to
the Company of $1.36 million on $3.11 million of net revenues for
the three months ended Sept. 30, 2015, compared to a net loss
attributable to the Company of $3.24 million on $1.12 million of
net revenues for the same period during the prior year.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss attributable to the Company of $5.23 million on $8.15
million of net revenues compared to a net loss attributable to the
Company of $11.12 million on $3 million of net revenues for the
same period last year.

As of Sept. 30, 2015, the Company had $3.78 million in total
assets, $4.85 million in total liabilities and a $1.07 million
total stockholders' deficit.

"The Company saw increased customer traction across all our markets
throughout the nine months of 2015," said Neonode's CEO Thomas
Eriksson.

"Our automotive division continues its impressive growth
performance with development of new technologies, such as our
zForce DRIVE steering wheel currently undergoing road testing and
our entry systems which is also in the testing phase with auto
OEMs.  Our customers continue to add to the number of models of
production ready cars using our zForce Core for the in-car
infotainment systems.  We're also pleased to report that our zForce
technology is in the number one selling car in China, the Buick
Excelle GT, and the number one and two best-selling SUVs in China,
the Haval H6 and the Baojun 560, based upon sales figures in the
China auto WEB September issue," added Mr. Eriksson.

"Our five global printer customers continue to be on plan with
their development and production release of new printer models
worldwide and our PC customers are on plan to release products with
our technology in 2016," concluded Mr. Eriksson.

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

                       http://is.gd/XpYKgS

                        About Neonode Inc.

Lafayette, Calif.-based Neonode Inc. (OTC BB: NEON)
-- http://www.neonode.com/-- provides optical touch screen
solutions for hand-held and small to midsize devices.

Neonode reported a net loss of $14.2 million in 2014, a net loss of
$13.08 million in 2013 and a net loss of $9.28 million in 2012.


NEW DAWN ASSISTED: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

Debtor                                             Case No.
------                                             --------
New Dawn Assisted Living                           15-14688
Real Estate Company, LLC       

New Dawn Assisted Living                           15-14689
Operating Company, LLC No 19   
1807 Jamwstown Road
Williamsburg, VA 23185

NeW Dawn Assisted Living                           15-14690
Real Estate Company, LLC No.15
10601 Barbara Lane
Richmond, VA 23233

New Dawn Assisted Living                           15-14691
Operating Company, LLC No      

Nature of Business: Health Care

Chapter 11 Petition Date: November 17, 2015

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

Judge: Eddward P. Ballinger Jr. (15-14689)
       George B. Nielsen Jr. (15-14690)

Debtors' Counsel: Sean P. O'Brien, Esq.
                  GUST ROSENFELD P.L.C.
                  One East Washington, Suite 1600
                  Phoenix, AZ 85004-2553
                  Tel: 602-257-7460
                  Fax: 602-254-4878
                  Email: spobrien@gustlaw.com

                                          Estimated   Estimated
                                           Assets    Liabilities
                                         ----------  -----------
New Dawn Assisted Living Operating       $0-$50,000  $0-$50,000
Company, LLC No. 19

New Dawn Assisted Living Real Estate     $1MM-$10MM  $1MM-$10MM
Company, LLC No. 15

The petition was signed by Dennis R. Haydon, manager.

A list of New Dawn Assisted Living Real Estate Company, LLC No.
15's 20 largest unsecured creditors is available for free at:

             http://bankrupt.com/misc/azb15-14690.pdf


OIC RUN-OFF LIMITED: Seeks Joint Administration of Cases
--------------------------------------------------------
OIC Run-Off Limited and The London and Overseas Insurance Company
Limited ask the Bankruptcy Court to direct the joint administration
of their cases under Lead Case No. 15-13054.

Rule 1015(b) of the Federal Rules of Bankruptcy Procedure provides,
in relevant part, that 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."  The Companies
assert they are "affiliates" within the meaning of Section 101(2)
of the Bankruptcy Code.

The Companies maintain that joint administration will be less
expensive and more efficient than the separate administration of
their cases because it will permit the Court to use a single docket
for both cases and to combine notices to Scheme Creditors and other
parties-in-interest of the Companies.

According to the Companies, the interests of creditors will not be
adversely affected because this motion requests only administrative
consolidation of the Chapter 15 cases.  All creditors and other
parties-in-interest will retain whatever claims, interests, or
other rights they have in or against each
Company and its estate.

                          About OIC Run-Off

OIC Run-Off Limited and The London & Overseas Insurance Company
Limited filed Chapter 15 bankruptcy petition (Bankr. S.D.N.Y. Case
Nos. 15-13054 and 15-13055, respectively) on Nov. 16, 2015.  The
petition was signed by Dan Yoram Schwarzmann and Paul Anthony
Brereton Evans as foreign representatives.  The Debtors estimated
assets in the range of $500 million to $1 billion and liabilities
of more than $1 billion.


OIC RUN-OFF LIMITED: Seeks US Recognition of UK Scheme
------------------------------------------------------
Insurance and reinsurance companies OIC Run-Off Limited and The
London and Overseas Insurance Company Limited, both subject to a
scheme of arrangement, are seeking recognition in the United States
of the proceedings before the High Court of Justice of England and
Wales.  The Chapter 15 petition was filed with the U.S. Bankruptcy
Court for the Southern District of New York by Dan Yoram
Schwarzmann and Paul Anthony Brereton Evans, the Companies' foreign
representatives.

The Companies ceased writing new business and went into run-off in
1992.  Thereafter, the Companies implemented the Original Scheme
which was sanctioned by the High Court of Justice of England and
Wales on March 5, 1997.  On March 6, 1997, the U.S. Bankruptcy
Court for the Southern District of New York issued the Permanent
Injunction Order under former Section 304 of the Bankruptcy Code.
Pursuant to the Permanent Injunction Order, the Original Scheme was
given full force and effect and made binding on and enforceable
against all Scheme Creditors in the United States.  The Original
Scheme became effective on March 7, 1997.

The Original Scheme is a reserving scheme of arrangement, also
known as a run-off scheme, pursuant to which the Companies'
business is being run-off in the ordinary course.  Under the
Original Scheme, Scheme Creditors are paid a percentage of their
claims as and when they become established.  Those Scheme Creditors
that have the benefit of a guarantee from the Companies' parent
company receive an additional payments from the Companies up to the
full amount of the Scheme Creditor's Qualifying Established
Liabilities.  Protected Policyholders receive payments in respect
of their Established Liabilities from the Policyholders Protection
Board or its successor in accordance with English law.

The Companies have been in run-off for approximately 23 years and
subject to the Original Scheme for approximately 18 years.
Initially, the Companies' run-off was managed by the directors of
the Companies, followed by the Provisional Liquidators.  Following
the Original Scheme coming into effect, the Companies' run-off has
been managed by the Scheme Administrators.  During the run-off,
which at all times has been managed in London, the majority of the
Companies' liabilities have been agreed.  Most of the remaining
liabilities are long-tail and may not crystallize into quantifiable
claims for many years.  The Petitioners, as Scheme Administrators,
supported by the Creditors' Committee, have determined that the
Original Scheme is no longer cost-effective or in the best
interests of the Companies' creditors.

The Petitioners, as Scheme Administrators, have concluded that it
would be in the interests of the Scheme Creditors to implement the
Amending Scheme, a crystallization scheme of arrangement, pursuant
to which the Companies' remaining liabilities, subject to certain
exceptions, will be estimated and paid the Payment Percentage.

By an order dated Oct. 8, 2014, the High Court (i) granted leave to
the Companies to convene meetings of Scheme Creditors for the
purpose of considering and, if thought fit, approving the Amending
Scheme, and (ii) confirmed that the Petitioners are the foreign
representatives for the purpose of filing petitions for an order
under Chapter 15 of the Bankruptcy Code granting recognition to the
proceedings before the High Court in connection with the Amending
Scheme, enforcing the Amending Scheme in the United States and
additional relief.

In accordance with the Convening Order, the Meetings occurred on
Dec. 11, 2014.  During the Meetings, the requisite majorities of
each class of Scheme Creditors of the Companies voted in favor of
the Amending Scheme.  Accordingly, the Petitioners submitted the
Amending Scheme to the High Court for sanction.  By order dated
Oct. 29, 2015, the High Court sanctioned the Amending Scheme.  The
Amending Scheme will become effective, and thereby binding on all
Scheme Creditors of the Companies wherever located, upon delivery
of the High Court's order sanctioning the Amending Scheme to the
Registrar of Companies in England and Wales.

The Companies disclosed they have Scheme Creditors located
throughout the United States.  

"If United States Scheme Creditors are permitted to ignore the
Amending Scheme and seek alternative relief against the Companies,
the Companies' assets could be depleted, thereby preventing a fair
distribution to all creditors," said Howard Seife, Esq., at
Chadbourne & Parke LLP, counsel for the Petitioners.  In addition,
those creditors could gain an advantage over others, and there
would be no orderly and uniform administration of the Companies'
business and the assets of, and claims against, the Companies in
one central forum," he added.

The Companies' assets in the United States consist of, among other
things, funds in a bank account and reinsurance recoverables due
from entities located in the United States, including in the
Southern District of New York.  The Scheme Administrators said they
regularly make payments to creditors in the United States from
funds periodically deposited into a bank account located in this
District and anticipate using that same bank account to administer
payments to be made in the United States under the Amending Scheme
once it becomes effective.

In addition, as of the Petition Date, the Companies each have an
interest in undrawn retainers with Chadbourne & Parke LLP, the
Petitioners' United States counsel.  In particular, each Company
deposited $10,000 in a non-interest bearing client trust account
with JPM organ Private Bank in New York.  Those funds remain in the
Client Trust Account as of the Petition Date and are the property
of the respective Companies.

A copy of the Petition for Recognition is available at:

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

                         About OIC Run-Off

OIC Run-Off Limited and The London & Overseas Insurance Company
Limited filed Chapter 15 bankruptcy petition (Bankr. S.D.N.Y. Case
Nos. 15-13054 and 15-13055, respectively) on Nov. 16, 2015.  The
petition was signed by Dan Yoram Schwarzmann and Paul Anthony
Brereton Evans as foreign representatives.  The Debtors estimated
assets in the range of $500 million to $1 billion and liabilities
of more than $1 billion.


OXYSURE SYSTEMS: Board OKs Name Change to OxySure Therapeutics
--------------------------------------------------------------
OxySure Systems, Inc., announced that its Board of Directors
approved a change of the Company's name to OxySure Therapeutics,
Inc.

"The purpose of the name change is to better reflect the business
and industry that we are in," said Julian Ross, CEO of OxySure. "It
also enhances the Company's positioning as we march towards our
Nasdaq uplisting and develop our institutional following," he
added.

The Company's ticker symbol will remain the same, OXYS, and the
Company's Web site will remain the same, www.oxysure.com.

The name change will become effective upon the Company receiving
consent from a majority of the stockholders of OxySure and the
filing of an amendment to the Company's articles of incorporation
with the Secretary of State in Delaware.

Speaking from the 2015 Annual Scientific Meeting of the American
College of Allergy, Asthma & Immunology (ACAAI) in San Antonio Dr.
Joe Chalil, Strategic Advisor for OxySure stated: "The word
therapeutics encapsulates well all the facets of our business,
past, present and future.  We note in particular that words such as
treatment, curative, remedial, restorative, reparative, corrective
and health-giving are all associated with therapeutics."

                       About OxySure Systems

Frisco, Tex.-based OxySure Systems, Inc. (OTC QB: OXYS) is a
medical technology company that focuses on the design, manufacture
and distribution of specialty respiratory and emergency medical
solutions.  The company pioneered a safe and easy to use solution
to produce medically pure (USP) oxygen from inert powders.  The
Company owns nine issued patents and patents pending on this
technology which makes the provision of emergency oxygen safer,
more accessible and easier to use than traditional oxygen
provision systems.

As of March 31, 2015, the Company had $2.18 million in total
assets, $1.63 million in total liabilities, and $557,000 in total
stockholders' equity.

Oxysure Systems reported a net loss of $2.75 million in 2014
following a net loss of $712,000 in 2013.

Sadler, Gibb & Associates, LLC, in Salt Lake City, UT, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company had accumulated losses of $18.0 million as of Dec. 31, 2014
which raises substantial doubt about its ability to continue as a
going concern.


OXYSURE SYSTEMS: Seeks Millions in Damages in Lawsuit vs. Redwine
-----------------------------------------------------------------
OxySure Systems, Inc., announced that the Company has filed a
lawsuit against TEGNA Inc., WFAA T.V. Channel 8, Jobin Panicker, a
reporter for WFAA T.V., The Redwine Law Firm PLLC, and Symone
Redwine, an attorney at The Redwine Law Firm.

The lawsuit seeks millions in damages from Redwine for tortious
interference and declaratory relief against WFAA and its parent,
TEGNA Inc.  The lawsuit outlines a series of allegations that most
recently involved Symone Redwine, an attorney at The Redwine Law
Firm in Dallas, Texas "going on a crusade to threaten and extort
OxySure."  The suit alleges that during this process "Symone
Redwine attempted to extort OxySure, threatening bad and negative
publicity which would harm OxySure's stock price and business,
insinuating that that would be the result if OxySure did not buy
her off."  This led to WFAA T.V. Channel 8 and Reporter Jobin
Panicker to join Redwine in publishing false and malicious
accusations about OxySure when the Company did not acquiesce to
Redwine's outrageous claims and preposterous demands.

The lawsuit recounts the culmination of a bizarre series of events
that started in December 2013, when in a tragic, freak accident a
young child by the name of Meaghan Levy swallowed a push pin at a
local Frisco elementary school.  Attempts by teachers, nurses and
bystanders were ultimately unsuccessful in saving Meaghan.  During
the attempts to save Meaghan the OxySure Model 615 was used.  As
the Dallas Observer noted: "The actual cause of death was suggested
by X-rays to doctors at Children's Medical Center at Legacy as they
frantically tried to save Meaghan's life, and confirmed a month
later by the Collin County Medical Examiner: asphyxiation by
push-pin."  The publicly available abstract of the Collin County
Medical Examiner's report reflects that the examiner found that the
victim died of asphyxiation from swallowing a push-pin.  After full
investigations, both the school district and the Frisco Police
department ruled the matter an accident.

For two years nothing happened relating to the accident.  The
matter had been put to rest by the Collin County medical examiner,
the school district and the Frisco police who all ruled it a tragic
accident, which is exactly what it is.  Out of the blue, the
lawsuit alleges, in 2015 a new lawyer for Meaghan's mother and
father, Symone Redwine and The Redwine Law Firm, began asking
OxySure's representatives about the proprietary powder composition
of the OxySure Model 615.  She started making claims that somehow,
the powders had something to do with Meaghan Levy's death.  As the
lawsuit demonstrates, when asked for the evidence underlying her
accusations, Ms. Redwine came forth with nothing but more
accusations and threats.

As the lawsuit further recounts, instead of presenting OxySure with
proof of her claims, Redwine desperately began harassing OxySure's
business associations.  She anonymously called Chemtrec in the
middle of the night citing a fake "poisoning event" in which a
young girl supposedly was "coughing up blood" in an attempt to gain
information regarding OxySure's proprietary information.  Redwine
also called Oxysure's vendors lodging groundless allegations
related to Meaghan Levy's death, and called OxySure's insurers and
attempted to convince them to open a claim for Meaghan Levy --
despite the fact that Meaghan Levy was not the insured.

The lawsuit further alleges that, "It now appears that when her
calls to OxySure's vendors, suppliers, insurers and regulator did
not give her the fix she needed to satisfy her crazed Jihad to
destroy OxySure, Ms. Redwine made good on her threats of extortion
by employing a willing collaborator: Jobin Panicker and WFAA T.V. -
the local ABC News station."

The suit continues: "On October 21, 2015, WFAA aired a story during
its evening News program --- a full 24 hours after Mr. Panicker
knew about the roots of the story.  Yet Mr. Panicker left no
messages for comment. He emailed no one at OxySure to verify his
sources or test the veracity of the damaging information.  He had
no medical or scientific experts to substantiate the medical and
scientific claims in his story.  All he had was the word of a young
plaintiff's lawyer out to make money.  That is all."

Said Mr. Mazin Sbaiti, lead attorney for OxySure's litigation team:
"As our lawsuit sets forth: the so-called news story is rife with
false information, giving public voice to the fraudulent
allegations launched by Symone Redwine in her attacks on OxySure.
In my entire legal career I have never seen actions so egregious
and patently false and intentionally damaging as this situation
represents.  We intend to bring to bear the full force of the law
to hold these defendants accountable for their actions."

"OxySure is all about saving lives," said OxySure Chairman and CEO
Julian Ross.  "We are proud of our track record and thousands of
stories from families, caregivers, coaches and school officials all
over the country, who were able to help someone in a medical
emergency situation.  That's powerful and that's our mission."

"We will continue to protect our credibility and brand integrity
and provide our safe, effective and lifesaving products to the
market place.  We will fight for what is right; telling both sides
of the story truthfully is a minimum standard our shareholders,
customers and WFAA viewers deserve," added Ross.

                        About OxySure Systems

Frisco, Tex.-based OxySure Systems, Inc. (OTC QB: OXYS) is a
medical technology company that focuses on the design, manufacture
and distribution of specialty respiratory and emergency medical
solutions.  The company pioneered a safe and easy to use solution
to produce medically pure (USP) oxygen from inert powders.  The
Company owns nine issued patents and patents pending on this
technology which makes the provision of emergency oxygen safer,
more accessible and easier to use than traditional oxygen
provision systems.

As of March 31, 2015, the Company had $2.18 million in total
assets, $1.63 million in total liabilities, and $557,000 in total
stockholders' equity.

Oxysure Systems reported a net loss of $2.75 million in 2014
following a net loss of $712,000 in 2013.

Sadler, Gibb & Associates, LLC, in Salt Lake City, UT, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company had accumulated losses of $18.0 million as of Dec. 31, 2014
which raises substantial doubt about its ability to continue as a
going concern.


PBF HOLDING: Moody's Affirms Ba3 CFR & Rates $500MM Sec. Notes B1
-----------------------------------------------------------------
Moody's Investors Service affirmed PBF Holding Company LLC's Ba3
Corporate Family Rating and Ba3-PD Probability of Default Rating.
Moody's assigned a B1 rating to PBF's proposed $500 million senior
secured notes and notched down its existing 8.25% senior secured
notes to B1 from Ba3.  Moody's also assigned a speculative grade
liquidity rating of SGL-3 to PBF.  The rating outlook remains
positive.

The net proceeds from the proposed notes offering will be used to
partially fund the $537.5 million (excluding approximately $200
million of working capital) acquisition of the Torrance refinery
that is expected to close in the second quarter of 2016.

"With the issuance of this debt, PBF will better match the purchase
of a long-lived asset at Torrance with term-debt as well as
maintain flexibility under its revolver," said Arvinder Saluja,
Moody's Vice President.

RATING RATIONALE

The B1 rating of the proposed $500 million senior secured notes and
the existing $675.5 million senior secured notes, one notch below
the Ba3 CFR under Moody's Loss Given Default Methodology, reflects
the increase in the amount of total senior secured notes, presence
of a substantial ABL revolving credit facility, which we deem to
have a relatively stronger collateral package, and a high
likelihood of the proposed notes losing their collateral security
if a collateral fall-away event occurs.  A covenant fall-away
event, for example, could occur if PBF refinances the existing
notes by issuing unsecured notes at some point prior to their
maturity.  The proposed notes are pari passu with the existing
notes, both of which are secured on a first priority basis by
substantially all assets of PBF and its subsidiaries, other than
assets securing the ABL revolver.  The revolver is secured by
assets that are more liquid, including deposit accounts, accounts
receivable, and all hydrocarbon inventory, than the assets that
secure the senior secured notes.

If a collateral fall away event occurs and there is no other
material change to the debt capital structure, the rating on the
then unsecured notes will remain B1.

PBF's Ba3 CFR reflects its enhanced scale, improved geographic
diversification, ability to process a range of light and heavy
crudes, and increased crude sourcing capability with the addition
of two complex refineries.  Operated by a seasoned management team,
PBF is expected to have credit metrics largely in line with its Ba
refining peers.  The rating is currently restrained by the
challenges associated with the integration of two refineries within
a short span.

PBF's SGL-3 speculative grade liquidity rating reflects adequate
liquidity through 2016 supported by balance sheet cash
(approximately $300 million as of Sept. 30, 2015, pro forma for the
proposed notes offering and other recent developments) and
availability under the ABL revolver.  Moody's expects operating
cash flow and balance sheet cash to be sufficient to fund PBF's
estimated 2016 capital expenditures and dividends.  The company has
an ABL revolver due August 2019 with a total commitment of $2.6
billion, but the borrowing base is estimated to be only
approximately $1.6 billion, which is the amount that governs the
maximum utilization of the facility.  At Sept. 30, 2015, PBF had no
borrowings under the revolver but had $151 million outstanding
letters of credit.  The ABL credit facility has a single financial
maintenance covenant, a minimum fixed charge coverage ratio of
1.1x, applicable only when availability drops under certain levels.
There are no maturities until April 2017 when PBF Rail's $150
million secured revolving credit facility ($67 million outstanding
as of Sept. 30, 2015) commitments expire.

The positive outlook reflects the potential increase in refining
scale, geographic diversification, and EBITDA generation if the
Torrance refinery acquisition closes as anticipated in the second
quarter of 2016.  Moody's could upgrade the ratings if after the
close of the Torrance refinery acquisition, PBF successfully
integrates its two new acquisitions, demonstrates financial and
operational ability to manage any environmental risks or other
liabilities at the Chalmette and Torrance refineries, and maintains
RCF / debt above 50%.  Moody's could downgrade the ratings if
Chalmette, Torrance or other acquisitions materially increase
business risk or decrease profitability, or if RCF / debt is
expected to decrease below 20%.

PBF is an independent North American refining and wholesale
marketing company.

The principal methodology used in these ratings was Refining and
Marketing Industry published in August 2015.



PBF HOLDING: S&P Affirms 'BB' Corporate Credit Rating
-----------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BBB-'
issue-level rating and '1' recovery rating to PBF Holding Co. LLC's
and PBF Finance Corp.'s proposed $500 million senior secured notes
due 2023.  The company intends to use the net proceeds for general
corporate purposes, including to fund a portion of the Torrance
refinery acquisition.  The proposed notes are pari passu with PBF's
existing 8.25% secured notes due 2020.  However, if the existing
2020 notes are refinanced on an unsecured basis the proposed notes
will also become unsecured, and will be rated 'BB' with a recovery
rating of '3'.

PBF is a wholly-owned subsidiary of PBF Energy Inc., which is one
of the largest independent refiners in the U.S., with 729,000
barrels per day of refining capacity.  The company operates oil
refineries and related facilities in Delaware City, Delaware;
Paulsboro, New Jersey; Toledo, Ohio; and New Orleans, Louisiana.

RATINGS LIST

PBF Holding Co. LLC
Corp credit rating                  BB/Stable/--

New Rating
PBF Holding Co. LLC
PBF Finance Corp.
$500 mil. sr secd notes due 2023    BBB-
Recovery rating                    1



PLEASE TOUCH: Dilworth Paxson Approved as Bankruptcy Counsel
------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Pennsylvania
authorized Please Touch Museum to employ Dilworth Paxson LLP as
counsel.

The Court also said that it was satisfied with a declaration of
Lawrence G. McMichael, a partner of Dilworth Paxson, stating that
Dilworth will not represent any entity or individual affiliated
with the Debtor in connection with the bankruptcy case.

Andrew R. Vara, Assistant U.S. Trustee for Region 3, has withdrawn
his limited objection to the Debtor's application.

As reported by the Troubled Company Reporter on Nov. 10, 2015, the
U.S. Trustee complained that there is no sufficient disclosure by
the firm to enable the court and parties-in-interest to make the
appropriate evaluation of the application.

According to the U.S. Trustee, Dilworth disclosed that:

   a. Dilworth was paid funds in the 90 days prior to the Petition
Date prior to an invoice being issued.  Dilworth failed to disclose
what portion, if any, of the services on such invoices were for
services rendered prior to the invoices.

   b. Dilworth disclosed that it waived any balance for prepetition
services owed by the Debtor.  Dilworth failed to disclose how much
was waived and when the services were rendered or the nature of the
services.

As reported by the TCR on Sept. 18, 2015, Dilworth is expected to:

   (a) provide the Debtor with legal services with respect to its
       powers and duties as debtor-in-possession;

   (b) prepare on behalf of the Debtor or assist the Debtor in
       preparing all necessary pleadings, motions, applications,
       complaints, answers, responses, orders, United States
       Trustee reports, and other legal papers;

   (c) represent the Debtor in any matter involving contests with
       secured or unsecured creditors, including the claims
       reconciliation process;

   (d) assist the Debtor in providing legal services required to
prepare, negotiate and implement a plan of reorganization;  and

   (e) perform all other legal services for the Debtor, which may
       be necessary in this case, other than those requiring
       specialized expertise for which special counsel, if
       necessary, may be employed.

The standard hourly rates of the attorneys at Dilworth are:

          Lawrence G. McMichael         $875
          Peter C. Hughes               $545
          Catherine G. Pappas           $360
          Erik Coccia                   $280

Based on the Debtor's status as a non-profit organization, Dilworth
will discount its standard hourly rates in this matter by up to
20%.  Specifically, Dilworth will submit invoices at its full
hourly rates but will waive its right to receive any holdback
payments after payment of 80% of its fees.

Consistent with Dilworth's policy with respect to its clients,
Dilworth will continue to charge the Debtor for all other services
provided and for all other charges and disbursements including,
among other things, telephone charges, photocopying, travel,
business meals, computerized research, messengers, couriers,
postage, witness fees, and other fees relating to trials and
hearings.  The discount of up to 20% on its hourly rates will not
apply to these expenses.

Dilworth received a total of $140,000 from the Debtor within the 90
days prior to the Petition Date.  These payments were made in
advance of or contemporaneously with services rendered in
preparation for the bankruptcy filing.

                       Prior Representation

Dilworth previously served as counsel to Citigroup Global Markets
Inc., the underwriter with respect to the issuance in 2006 of $60
million in bonds (Philadelphia Authority for Industrial Development
Revenue Bonds, Series of 2006).  According to the Debtor,
Dilworth's representation at that time was limited to
representation of the underwriter with respect to the issuance of
the Bonds, and not representation of the Philadelphia Authority for
Industrial Development or U.S. Bank, National Association as
Trustee.

The Debtor relates that subsequent to 2006, Dilworth has, on one or
two occasions, responded to casual inquiries from Citigroup as
underwriter, which inquiries occurred in the timeframe in which the
Debtor defaulted on the Bonds in 2013.  It has been at least
approximately 18 months since these casual inquiries.

According to the Debtor, Dilworth has not issued any invoices with
respect to representation of Citigroup regarding the Bonds since
2006 and has not been paid by Citigroup with respect to the Bonds
since 2006.  Dilworth is not currently representing Citigroup with
respect to the Bonds and has not done substantive work for
Citigroup with respect to the Bonds since the issuance of the Bonds
in 2006.

The Debtor asserts that under the current definition of
"disinterested person," Dilworth is disinterested because it does
not have an interest materially adverse to the interest of the
estate or of any class of creditors or equity security holders.

                     About Please Touch Museum

Please Touch Museum filed Chapter 11 bankruptcy petition (Bankr.
E.D. Pa. Case No. 15-16558) on Sept. 11, 2015.  The petition was
signed by Lynn McMaster as president and chief executive officer.
The Debtor disclosed total assets of $16,244,356 and total
liabilities of $63,513,617.

Judge Jean K. FitzSimon is assigned to the case.

Dilworth Paxson LLP serves as the Debtor's counsel.  EisnerAmper
LLP acts as the Debtor's financial advisor.  Isdaner & Company, LLC
represents as the Debtor's tax advisor and auditor.  Rust
Consulting/Omni Bankruptcy is the Debtor's claims, notice and
solicitation agent.

The Debtor operates a children's museum known as the Please Touch
Museum located at Memorial Hall in the Fairmount Park section of
Philadelphia.  The Debtor generates its revenues through a
combination of sales of memberships and tickets to the Museum,
event revenue, endowment income, and charitable contributions.


PLEASE TOUCH: Lists $16.2-Mil. in Assets, $63.5-Mil. in Debts
-------------------------------------------------------------
Please Touch Museum filed with the U.S. Bankruptcy Court for the
Eastern District of Pennsylvania its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $16,244,356
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $62,663,563
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $104,483
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                          $745,571
                                 -----------      -----------
        Total                    $16,244,356      $63,513,617

A copy of the schedules is available for free at:

      http://bankrupt.com/misc/PleaseTouch_135_Oct19SAL.pdf

                     About Please Touch Museum

Please Touch Museum filed Chapter 11 bankruptcy petition (Bankr.
E.D. Pa. Case No. 15-16558) on Sept. 11, 2015.  The petition was
signed by Lynn McMaster as president and chief executive officer.
The Debtor disclosed total assets of $16,244,356 and total
liabilities of $63,513,617.

Judge Jean K. FitzSimon is assigned to the case.

Dilworth Paxson LLP serves as the Debtor's counsel.  EisnerAmper
LLP acts as the Debtor's financial advisor.  Isdaner & Company, LLC
represents as the Debtor's tax advisor and auditor.  Rust
Consulting/Omni Bankruptcy is the Debtor's claims, notice and
solicitation agent.

The Debtor operates a children's museum known as the Please Touch
Museum located at Memorial Hall in the Fairmount Park section of
Philadelphia.  The Debtor generates its revenues through a
combination of sales of memberships and tickets to the Museum,
event revenue, endowment income, and charitable contributions.


QUAKER STEAK: TravelCenters to Acquire Assets for $25 Million
-------------------------------------------------------------
TravelCenters of America LLC on Nov. 16 disclosed that it has
agreed to acquire Quaker Steak & Lube(R) casual dining restaurants
and certain related assets, including existing restaurant
operations, restaurant franchise program and bottled sauces for
retail sale business, for $25 million.

Founded in 1974, Quaker Steak & Lube(R), known for its "Best Wings
USA", iconic decor and original sauces, has over 50 locations, a
majority of which are franchised, in 16 states, with a
concentration in Pennsylvania and Ohio.  TravelCenters intends to
convert some of its existing full service restaurants to the Quaker
Steak & Lube(R) brand while simultaneously expanding the franchise
program and the number of stand alone company operated restaurants
over time.

TravelCenters believes its expertise operating full service
restaurants on a national scale which are consistently rated by
customers as the #1 and #2 preferred truck stop restaurant brands
provides TA with the ability to build Quaker Steak & Lube(R) into a
nationally recognized brand and increase the profitability of its
existing operations.  The expected benefits from this transaction
include:

Expanding TravelCenters' customer base to include additional
traffic from four wheel motorists and local markets;

Growing the profits at certain existing travel center restaurants;
and Expanding the Quaker Steak & Lube(R) restaurant business into
new markets.

"Quaker Steak & Lube(R)'s unique brand and award winning menu is a
great fit for TA's primary customers -- professional truck drivers
and highway motorists," said TA's chief executive officer
Tom O'Brien.  "We are confident that our existing food services
operations will provide TA the tools it needs to make Quaker Steak
& Lube(R) a nationally recognized restaurant brand.  By converting
some of our existing full service restaurants to the Quaker Steak &
Lube(R) brand we will enhance the variety of food and hospitality
options that our travel centers already provide to professional
drivers at the same time that we expand the public awareness of the
Quaker Steak & Lube(R) brand.  We also expect to expand the Quaker
Steak & Lube(R)' existing franchise program as well as its business
of operating company owned restaurants separate from our travel
centers."

Earlier on Nov. 16 Quaker Steak & Lube(R) began proceedings for
reorganization under Chapter 11 of the U.S. Bankruptcy Code and
simultaneously filed in court the asset purchase and $2 million
debtor in possession financing agreements with TA.  Pursuant to the
purchase agreement, TA has made a deposit toward the purchase price
and has agreed to offer employment following the purchase to
substantially all of Quaker Steak & Lube(R)'s current employees.
The agreements are subject to bankruptcy court approval processes,
which are expected to be completed in early 2016, and other
conditions including, but not limited to, an auction process
supervised by the bankruptcy court.  The auction process is
expected to be subject to certain rules regarding topping bids
including, but not limited to, TA's right, if TA's purchase is not
approved, to receive a refund of its deposit, a topping fee,
expense reimbursements and repayment of the debtor in possession
financing plus interest, and TA's rights to assume or reject
company leases at certain Quaker Steak & Lube(R) locations.

               About TravelCenters of America LLC:

TA's travel centers operate under the "TravelCenters of America",
"TA", "Petro Stopping Centers" and "Petro" brand names.  TA's
offers include diesel and gasoline fueling, restaurants, truck
repair facilities, travel/convenience stores and other services
which provide an efficient and enhanced travel experience.  TA's
nationwide business includes travel centers located in 43 U.S.
states and in Canada.  TA convenience stores operate principally
under the "Minit Mart" brand name in 11 states and offer gasoline
fueling as well as non-fuel products and services such as coffee,
groceries, fresh food offerings and other convenience items.


QUEST SOLUTION: Q3 Conference Call Held Nov. 12
-----------------------------------------------
Quest Solution, Inc., conducted a conference call on Nov. 12, 2015,
to discuss the Company's financial results for the third quarter,
provide a general corporate update and conduct a question and
answer period.

                       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.


QUIRKY INC: Court Approves Employee Incentive and Retention Plans
-----------------------------------------------------------------
Quirky, Inc. and its affiliated debtors sought and obtained from
Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern
District of New York, authorization for the adoption and
implementation of their Key Employee Incentive Plan ("KEIP") and
Key Employee Retention Program ("KERP").

The Debtors relate that they face two distinct challenges with the
continued employment of their employees. They further relate that
with respect to their Quirky operations, the Debtors' employees
face the near certain prospect of employment loss in the near
future while they continue to market and dispose of assets and wind
down operations.  The Debtors further relate that with respect to
the operations of their subsidiary, Wink, Inc., the concerns are
different, as the employees of Wink are the Wink assets.  The
Debtors contend that the assets of Wink, which are being marketed
as a going concern and will undoubtedly be a primary driver of
value to their estates, are Wink's technology and the people behind
that technology.

The Debtors tell the Court that they have carefully designed the
Programs to ensure successful sale processes and to maximize the
value of the estates.  They further tell the Court that each of the
employees covered by the Programs has been carefully identified as
crucial to the continued operation of Wink as a going concern, the
success of the Wink sale process, monetization of the Debtors'
remaining Quirky assets and/or wind-down of the Debtors'
operations.

William K. Harrington, the United States Trustee for Region 2,
objected to the Debtors' Motion, asserting that the Debtors have
failed to meet their evidentiary burden of proof to show that the
proposed bonus payments comply with Section 503(c) of the
Bankruptcy Code.

The Debtors later revised the terms of their KEIP in order to
address the concerns expressed by the U.S. Trustee and the comments
of the Court during the hearing held on October 23, 2015.

The Revised KEIP contains, among others, the following terms:

     (a) $655,000 will be available to pay the Quirky KEIP
Employees in connection with a sale of the assets related to the
Wink business pursuant to the achievement of certain milestones.
The CEO will receive a total payment of $375,000.00 if all
milestones are met, and the General Counsel would receive a total
payment of $280,000 if all milestones are met.

     (b) $270,000 will be available to pay the Quirky KEIP
Employees in connection with the wind-down of Quirky pursuant to
certain milestones.  The CEO would receive a total payment of
$150,000 if all milestones are met, and the General Counsel would
receive a total payment of $120,000 if all milestones are met.

     (c) $650,000 would be available to pay the Wink KEIP Employees
in connection with a sale of the assets related to the Wink
business pursuant to certain milestones.  Wink's Vice President of
Engineering will receive a total payment of $375,000 if all
milestones are met, and its General Manager will receive a total
payment of $275,000 if all milestones are met.

The KERP proposes to pay approximately $994,001 to four groups of
27 Quirk and Wink employees.  The employees consist of Vice
Presidents, Directors, Managers, Developers, Designers and
Engineers, among others. According to the KERP, each employee in
Group 4 will only receive payments in the event that (a) a sale of
the Wink business is not consummated, or (b) such employee does not
receive an employment offer from the purchaser of the Wink
business.  The KERP further provides that the proposed payment to
Group 4 reflects what each employee in that group would receive as
severance pursuant to the Debtors' severance practices.

Quirky, Inc. and its affiliated debtors are represented by:

          Jeffrey L. Cohen, Esq.
          Michael A. Klein, Esq.
          Richelle Kalnit, Esq.
          COOLEY LLP
          1114 Avenue of the Americas
          New York, NY 10036
          Telephone: (212)479-6000
          Facsimile: (212)479-6275
          E-mail: jcohen@cooley.com
                 mklein@cooley.com
                 rkalnit@cooley.com

The U.S. Trustee for Region 2 is represented by:

          Paul K. Schwartzberg, Esq.
          201 Varick Street, Suite 1006
          New York, NY 10014
          Telephone: (212)510-0500

                       About Quirky, Inc.

Headquartered in New York City, Quirky designs and develops
various
products ranging from electronics, home and garden, kitchen and
organization and sells those products through big box retailers
like Target and Home Depot and online through its Web site.  The
Company sold over 150 different products and a total of 4 million
units, generating over $50 million in revenue from its retail and
consulting businesses in 2014.

Quirky, Inc., Wink, Inc. and Undercurrent Acquisition, LLC filed
Chapter 11 bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No.
15-12596) on Sept. 22, 2015, with a deal to sell their assets
related to the Wink business line as a going concern to
Flextronics
International USA Inc., for $15 million, absent higher and better
offers.

The petitions were signed by Charles Kwalwasser, the chief
administrative officer.

Judge Martin Glenn is assigned to the jointly administered cases.

Quirky estimated assets in the range of $10 million to $50 million
and liabilities of at least $50 million.

The Debtors have engaged Cooley LLP as counsel, Klestadt Winters
Jureller Southard & Stevens LLP as conflicts counsel, Centerview
Partners LLC as investment bankers, FTI Consulting, Inc., as
financial advisors, Rust Consulting/Omni Bankruptcy as claims and
noticing agent and Hilco IP Services LLC dba Hilco Streambank as
intellectual property disposition consultant to Quirky, Inc.

The U.S. Trustee for Region 2 appointed five members to the
Official Committee of Unsecured Creditors.


QUIRKY INC: Otterbourg Files Rule 2019 Statement
------------------------------------------------
Otterbourg P.C. disclosed in a court filing that it represents the
official committee of unsecured creditors appointed in the Chapter
11 cases of Quirky Inc. and its affiliates.

The committee is composed of Jacob Zien, Dr. Garthen Leslie,
Eastfield Lighting (Hong Kong) Co. Ltd., United Parcel Service
Inc., and YellowHammer Media Group Inc.

Mr. Zien, who serves as chairperson, holds a $125,000 claim; Dr.
Leslie, $508,207; United Parcel, $645,930; Eastfield Lighting,
$674,092; and YellowHammer, $476,187.

Otterbourg does not have "independent claims" against Quirky and
its affiliates, according to the filing.

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

The firm can be reached at:

     Otterbourg P.C.
     Melanie L. Cyganowski
     Kevin Zuzolo
     230 Park Avenue
     New York, New York 10169
     (212) 661-9100

                        About Quirky Inc.

Headquartered in New York City, Quirky designs and develops various
products ranging from electronics, home and garden, kitchen and
organization and sells those products through big box retailers
like Target and Home Depot and online through its Web site.  The
Company sold over 150 different products and a total of 4 million
units, generating over $50 million in revenue from its retail and
consulting businesses in 2014.

Quirky, Inc., Wink, Inc. and Undercurrent Acquisition, LLC filed
Chapter 11 bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No.
15-12596) on Sept. 22, 2015, with a deal to sell their assets
related to the Wink business line as a going concern to Flextronics
International USA Inc., for $15 million, absent higher and better
offers.

The petitions were signed by Charles Kwalwasser, the chief
administrative officer.

Judge Martin Glenn is assigned to the jointly administered cases.

Quirky estimated assets in the range of $10 million to $50 million
and liabilities of at least $50 million.

The Debtors have engaged Cooley LLP as counsel, Klestadt Winters
Jureller Southard & Stevens LLP as conflicts counsel, Centerview
Partners LLC as investment bankers, FTI Consulting, Inc., as
financial advisors, Rust Consulting/Omni Bankruptcy as claims and
noticing agent and Hilco IP Services LLC dba Hilco Streambank as
intellectual property disposition consultant to Quirky, Inc.

The U.S. Trustee for Region 2 appointed five members to the
Official Committee of Unsecured Creditors.


RAILYARD COMPANY: Parties Support Bid for Ch. 11 Trustee
--------------------------------------------------------
Parties-in-interest support the motion filed by Thorofare Asset
Based Lending Fund III, L.P., to appoint a chapter 11 trustee, or
in the alternative to require Railyard Company, LLC, to employ a
property manager.

Bob Ward, employee of Recreational Equipment, Inc., store manager
at store located at Market Street Station, Santa Fee, New Mexico,
stated that the fire alarm at Market Street Station Complex has not
been functioning properly and must be repaired.

Recreational Equipment, Inc., a lessee of the Debtor and
party-in-interest, submitted a joinder in the trustee motion.

Santa Fe Railyard Community Corporation, in a separate filing,
stated that it does not object to the trustee motion.

The Debtor objected to motion to appoint a trustee, admitting and
denying certain statements in the motion.

The Court, in an amended notice, scheduled a Nov. 12, 2015 hearing
on the matter.  The hearing was previously scheduled for Nov. 5.

Santa Fe Railyard is represented by W. Anthony Sawtell, Esq., at
Sawtell, Wirth & Biedscheid, P. C.

                      About Railyard Company

Railyard Company, LLC, owns and developed two-story Market Station
that houses the REI sporting goods store and other tenants.  It
filed a Chapter 11 petition (Bankr. D. N.M. Case No. 15-12386) on
Sept. 4, 2015.  The petition was signed by Richard Jaramillo as
managing member.  The Debtor is represented by William F. Davis,
Esq., at William F. Davis & Associates, P.C., as counsel.

The Debtor's Chapter 11 petition says the Company has about $11.2
million in debts and $13.8 million in assets.

In its amended schedules, the Debtor disclosed total assest of
$13,852,140 and total liabilities of $11,221,368.


RDIO INC: Seeks Approval of Auction and Bidding Procedures
----------------------------------------------------------
Rdio, Inc., asks the U.S. Bankruptcy Court for the Northern
District of California to approve bidding procedures governing the
sale of its assets.

The Debtor and Pandora Media, Inc., as stalking horse purchaser,
entered into a purchase agreement on Nov. 16, 2015, for the
purchase and sale of the Debtor's technological and related assets
for $75 million in cash.  The Purchaser has agreed that the Debtor
should market the Purchaser's offer for overbid to ensure that the
highest and best price is paid for the Debtor's assets.

The Debtor has retained Moelis & Company for the purpose of
marketing the Debtor's assets for overbid and to assist the Debtor
to conduct an auction process in the event of any successful
overbids.

The Purchase Agreement provides certain incentives to the Purchaser
to induce the Purchaser to be the lead bidder.  In the event that
the Purchaser is not the Successful Bidder, it will be entitled to
a break-up fee of $2,250,000, reimbursement of out-of-pocket costs
and expenses up to $500,000, and repayment of the service fees.

The Purchaser has conditioned its offer on the Debtor obtaining an
entered Bidding Procedures Order on or prior to Dec. 1, 2015, and
the Debtor obtaining a Court order by Dec. 23, 2015, approving the
sale by the Debtor to Purchaser or a higher bidder.

                        Bidding Procedures

Certain bidding procedures have been agreed to by the Debtor and
Purchaser, all of which the Debtor believes to be reasonable and
appropriate under the circumstances of this case and in compliance
with the law.  The Bidding Procedures include, among other things,
the following elements:

1. Within three days following the entry of the Bidding Procedures

   Order, the Debtor will send the approved Auction Sale and
   Hearing Notice to all potential purchasers identified by the
   Debtor; the Office of the United States trustee, counsel for
   any committee appointed, the 20 largest unsecured creditors,
   applicable taxing authorities, and other parties identified in
   the Bid Procedures.

2. In order to overbid Purchaser's bid, the minimum initial
   overbid must be at least $1 million higher than Purchaser's
   bid made in the Purchase Agreement (plus an amount equal
   to the Break-Up Fee, the maximum Expense Reimbursement, and the
   Service Fee, which amounts may be repaid to Purchaser under the
   Purchase Agreement if it is not the Successful Bidder), with
   minimum subsequent bid increments of no less than $500,000 and
   by figures which are wholly divisible by $500,000.

3. Bids must be delivered at least five days prior to the Bid
   Deadline, accompanied by a marked up version of the Purchase
   Agreement.

4. In order to be considered a "qualified bidder", a bidder must,
   on or before five business days before the Auction, submit
   evidence of its financial ability to close the transaction.

5. Prospective overbidders are required to provide a deposit equal
   to the sum of $7.6 million (10% of the Purchase Price plus the
   first bid increment), plus the aggregate amount equal to the
   Break-Up Fee, the maximum Expense Reimbursement, and the
   Service Fee.

The Overbidders' bid packages must be delivered in electronic form
to the parties so as to be actually received no later than 5:00
p.m. (prevailing Pacific Standard Time), which is five days before
the Auction.

If, by the Bid Deadline, the only timely Qualified Bid received by
the Debtor is from the Stalking Horse Bidder, the Debtor will not
conduct an auction, and the Stalking Horse Bidder will be deemed
the Successful Bidder and its bid the Successful Bid.

                        About Rdio, Inc.

Rdio, Inc. filed Chapter 11 bankruptcy petition (Bankr. N.D. Calif.
Case No. 15-31430) on Nov. 16, 2015.  The petition was signed by
Elliott Peters as senior vice president.  The Debtor estimated
assets in the range of $50 million to $100 million and liabilities
of more than $100 million.  Levene, Neale, Bender, Yoo & Brill LLP
serves as the Debtor's counsel.  Judge Dennis Montali has been
assigned the case.

The Debtor was founded in 2008 as a digital music service.  The
Debtor's business operations were launched in 2010 after the Debtor
secured all of the major record label rights.  Since that time, the
Debtor has strived to grow into a world wide music service, and
today is in approximately 86 countries.


RI WELLINGTON: Case Summary & 19 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: RI Wellington Rentals, LLC
        11030 N Kendall Drive, Suite 100
        Miami, FL 33176

Case No.: 15-30173

Chapter 11 Petition Date: November 17, 2015

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

Judge: Hon. A. Jay Cristol

Debtor's Counsel: Nicholas B. Bangos, Esq.
                  NICHOLAS B. BANGOS, P.A.
                  100 SE 2nd Street, Suite 3400
                  Miami, FL 33131
                  Tel: 305.375.9220
                  Fax: 305.375.8050
                  Email: nbangos@diazreus.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Farnk Robles, managing member.

A list of the Debtor's 19 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flsb15-30173.pdf


RJT ENTERPRISES: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: RJT Enterprises, Inc.   
           dba Performing Imports
        11090 Old Roswell Road
        Alpharetta, GA 30009

Case No.: 15-72137

Chapter 11 Petition Date: November 17, 2015

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

Debtor's Counsel: M. Denise Dotson, Esq.
                  M. DENISE DOTSON, LLC
                  170 Mitchell St.
                  Atlanta, GA 30303
                  Tel: (404) 526-8869
                  Fax: (404) 526-8855
                  Email: ddotsonlaw@me.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ronald Trochelmann, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ganb15-72137.pdf


ROBERT LESLIE: Dismissal of Suit Against Wells Fargo Affirmed
-------------------------------------------------------------
On January 9, 2015, self-represented litigants Robert Gwen Leslie
and Marilyn Beverly Leslie filed a First Amended Complaint in the
United States Bankruptcy Court for the Central District of
California.  The FAC names as defendants Sandra K. McBeth, Wells
Fargo Bank, N.A., George Torres and Does 1 through 100.  The claims
advanced in the FAC arise out of certain ongoing disputes between
the Leslies and the Defendants regarding the management of the
Leslies's bankruptcy estate.

McBeth, who was appointed as the Chapter 7 Bankruptcy Trustee in
the Leslies's bankruptcy proceedings, entered into a "Well Site,
Water Rights and Easement Agreement" with Wells Fargo on behalf of
the bankruptcy estate.  The FAC seeks to invalidate the Agreement.
It alleges that the entry of the Agreement violated certain rights
and duties owed to the Leslies.  On similar grounds, the FAC also
challenges the sale by McBeth to Torres of real property owned by
the Leslies.

The Bankruptcy Court granted the Defendants' Motions to Dismiss the
FAC on several grounds that were discussed during the hearing on
the matter.  They included res judicata/collateral estoppel,
mootness, quasi-judicial immunity and failure to state a claim.
The Bankruptcy Court also determined that, because none of these
deficiencies could be cured by an amendment, the FAC was dismissed
with prejudice.  The Leslies appeal from the Bankruptcy Court's
Order.

In a Civil Minutes-General dated November 5, 2015, which is
available at http://is.gd/zc2XAr,Judge John A. Kronstadt of the
United States District Court for the Central District of California
affirmed the judgment dismissing the FAC with prejudice.

The case is In re Robert Gwen and Marilyn Beverly Leslie Robert
Gwen Leslie, et al. v. Sandra K. McBeth, NO. LA CV15-02111 JAK
(C.D. Calif.).

Robert Gwen Leslie, Appellant, Pro Se.

Marilyn Beverly Leslie, Appellant, Pro Se.

Sandra K. McBeth, Appellee, represented by Timothy J. Yoo, Esq. --
tjy@lnbyb.com -- Levene Neale Bender Yoo & Brill LLP.


ROBVENT PROPERTIES: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Robvent Properties, Inc.
        11030 North Kendal Drive, Suite 100
        Miami, FL 33176

Case No.: 15-30174

Chapter 11 Petition Date: November 17, 2015

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

Judge: Hon. Laurel M Isicoff

Debtor's Counsel: Nicholas B. Bangos, Esq.
                  NICHOLAS B. BANGOS, P.A.
                  100 SE 2nd Street, Suite 3400
                  Miami, FL 33131
                  Tel: 305.375.9220
                  Fax: 305.375.8050
                  Email: nbangos@diazreus.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $10 million to $50 million

The petition was signed by Alejandro Robles, Jr., president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flsb15-30174.pdf


ROYAL TRACTOR: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Royal Tractor Company, Inc.
        109 Overland Park Place
        New Century, KS 66031

Case No.: 15-22405

Chapter 11 Petition Date: November 17, 2015

Court: United States Bankruptcy Court
       District of Kansas (Kansas City)

Judge: Hon. Robert D. Berger

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

Total Assets: $2.95 million

Total Liabilities: $3.18 million

The petition was signed by Thomas J. Hardwick, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ksb15-22405.pdf


SAINT MICHAEL: Prime's $62M Bid for NJ Hospital Tops Auction
------------------------------------------------------------
Shayna Posses at Bankruptcy Law360 reported that Saint Michael's
Medical Center Inc. has declared a Prime Healthcare unit's
$62.2 million offer the winning bid for the bankrupt New Jersey
hospital's assets, according to a Tuesday filing in bankruptcy
court.

Prime Healthcare Services-Saint Michael's LLC's offer came out on
top during the Nov. 5 auction and will be presented for approval in
a hearing before U.S. Bankruptcy Judge Vincent F. Papalia in New
Jersey, bringing an asset purchase sale on the table since February
2013 a step closer to completion.

Saint Michael Motor Express filed for Chapter 11 bankruptcy (Bankr.
W.D. Tenn. Case No. 08-11838) on May 22, 2008.  The case was
converted to a Chapter 7 liquidation on Oct. 13, 2009.
Saint Michael Motor Express is represented by Henry C. Shelton,
III, Esq., at Adams and Reese, LLP.


SEAN DOMINIC CRESAP: Court Confirms Reorganization Plan
-------------------------------------------------------
In a Findings of Fact dated November 6, 2015, which is available at
http://is.gd/Ef5IPRfrom Leagle.com, Judge Frederick P. Corbit of
the United States Bankruptcy Court for the Eastern District of
Washington ruled that it is proper that the Sean Dominic Cresap and
Tina Marie Cresap's First Amended Plan of Reorganization be
confirmed, subject to the following:

   A. Notwithstanding any provision of the Plan to the contrary,
the Commercial Guarantee executed by Debtor on August 15, 2013 of
the indebtedness of Cresap Orthotics & Prosthetics, Inc.'s to
Cashmere Valley Bank arising from a Promissory Note dated August
15, 2013 by CO&P, Inc. in favor of Cashmere shall remain in full
force and effect; provided however, that Cashmere may not declare a
default on CO&P, Inc. due to the guarantor filing this bankruptcy
case, and any claim of Cashmere arising from the guarantee against
Debtors shall be a Class 17 (Unsecured Creditors) claim.

   B. Notwithstanding any provision in the Plan to the contrary,
the Crescent Bar Condo may not be sold on a land payment
installment contract without prior notice of intention to sell on a
land payment installment contract and then written approval of
Allowed Claim of Class 7 (Homestreet Bank). The regular monthly
payment of the Allowed Claim of Class 7 referenced in the Plan is
corrected to $1,846.71. Provided the Crescent Bar Condo is not
abandoned or sold, the post-petition arrearage due the Allowed
Claim of Class 7 in the sum of $15,057.77 shall be cured in full in
six (6) equal monthly payments of $2,509.63 due on the 15th of the
month starting in December, 2015, and continuing through May, 2016.
The regular post-petition payments are due on the 1st day of each
month beginning in December, 2015.

The case is In re: SEAN DOMINIC & TINA MARIE CRESAP, dba CRESAP
ORTHOTICS & PROSTHETICS, INC., Chapter 11, Debtors, NO.
15-01228-FPC11 (Bankr. E.D. Wash.).

Sean Dominic Cresap, Debtor, represented by:

          Dan Orourke, Esq.
          Kevin Orourke, Esq.
          SOUTHWELL & OROURKE
          421 W Riverside Ave, Suite 960
          Spokane, WA 99201
          Phone: 509-624-0159
          Fax: 509-624-9231


SENTINEL MANAGEMENT: Trustee Takes 2nd Shot at BNYM's $312M Claim
-----------------------------------------------------------------
Jessica Corso at Bankruptcy Law360 reported that the trustee for
disgraced investment management firm Sentinel Management Group Inc.
dragged Bank of New York Mellon before the Seventh Circuit for the
second time in three years hoping to wrestle $312 million out of
the bank's hands, arguing on Nov. 10, 2015, that other creditors
should get a fair shot at money that BNYM should have known was
being collateralized on the backs of Sentinel investors.

Catherine Steege served as attorney for trustee Frederick Grede.

                     About Sentinel Management

Based in Northbrook, Illinois, Sentinel Management Group Inc. --
http://www.sentinelmgi.com/-- was a full service firm offering   
a variety of security solutions.  The Company filed a voluntary
Chapter 11 petition (Bankr. N.D. Ill. Case No. 07-14987) on
Aug. 17, 2007.  Ronald Barliant, Esq., Randall Klein, Esq., and
Kathryn A. Pamenter, Esq., at Goldberg, Kohn, Bell & Black
Rosenbloom & Moritz, Ltd., represented the Debtor.  Lawyers at
Quinn, Emanuel Urquhart Oliver & Hedges, LLP, represented the
Official Committee of Unsecured Creditors.  When the Debtor sought
bankruptcy protection, it estimated assets and debts of more than
$100 million.

On Aug. 28, 2007, the Court approved Frederick Grede as the
Debtor's Chapter 11 Trustee.  Marc I. Fenton, Esq., at DLA Piper
US LLP, and Vincent E. Lazar, Esq., at Jenner & Block LLP,
represent the Chapter 11 Trustee.

The Court confirmed the Fourth Amended Chapter 11 Plan of
Liquidation for Sentinel on Dec. 15, 2008, which created a
Liquidation Trust.  The Plan became effective Dec. 17, 2008, and
Mr. Grede was appointed Liquidation Trustee.


SEQUA CORP: Roiled in Debt Market as Earnings Said to Tank
----------------------------------------------------------
Laura J. Keller, writing for Bloomberg Brief - Distress &
Bankruptcy, reported on Nov. 16, 2015, that Sequa Corp. debt
plunged to record lows after the aerospace parts servicer
controlled by Carlyle Group LP told creditors its third-quarter
earnings fell nearly 40 percent, according to two people with
knowledge of the company's performance.

The company's $1.3 billion term loan slid 2.4 cents to a low of
73.8 cents on the dollar on Nov. 12, according to prices compiled
by Bloomberg.  Its $350 million of unsecured notes due December
2017 lost more than 11 cents to trade at 40 cents on the dollar on
Nov. 16, according to Trace, the bond-price reporting system of the
Financial Industry Regulatory Authority.

Sequa, which doesn't publicly disclose its financial data, told
creditors its business produced $34.5 million of adjusted earnings
before interest, taxes, depreciation and amortization, compared
with $56.1 million in the corresponding 2014 period, said the
people, the report related.  In August, Sequa disclosed privately
to investors in August that it burned through nearly half of its
cash during the second quarter as its business selling spare
airplane parts suffered, the report said, further citing people
with knowledge.

                       *     *     *

The Troubled Company Reporter, on April 17, 2015, reported that
Standard & Poor's Ratings Services said that it has lowered its
corporate credit rating on Sequa Corp. to 'CCC+' from 'B-'. The
outlook is stable.

"At the same time, we lowered our issue-level rating on the
company's $1.5 billion senior secured credit facility (which is
composed of a $200 million revolver and a $1.3 billion term loan)
to 'CCC+' from 'B-'. The '4' recovery rating remains unchanged,
indicating our expectation for average recovery (30%-50%, at the
high end of the range) in a payment default scenario," said S&P.

"In addition, we also lowered our issue-level rating on the
company's unsecured debt to 'CCC-' from 'CCC'. The '6' recovery
rating remains unchanged, indicating our expectation for
negligible
recovery (0%-10%) in a payment default scenario," said S&P.


SEVENTY SEVEN: Moody's Lowers CFR to Caa1; Outlook Still Negative
-----------------------------------------------------------------
Moody's Investors Service downgraded Seventy Seven Energy Inc.'s
(SSE) Corporate Family Rating to Caa1 from B2, its Probability of
Default Rating to Caa1-PD from B2-PD, and its senior unsecured
notes due 2022 to Caa3 from Caa1.  At the same time, SSE's
Speculative Grade Liquidity rating was lowered to SGL-3 from SGL-2.
The debts of SSE's operating subsidiary, Seventy-Seven Operating
LLC were downgraded as follows: its senior secured term loan to B1
from Ba2 and its senior unsecured notes due 2019 to Caa2 from B3.
The rating outlook remains negative.

"The downgrade reflects our expectation for very weak credit
metrics and sustained elevated debt levels through 2016, stemming
from a protracted period of low oil prices and weak demand for
Seventy Seven Energy's drilling rig and hydraulic fracturing
services," said John Thieroff, Moody's Vice President.  "The
company's cash flow will continue to be challenged as contracts
roll off through 2016 in an oversupplied market leading to
additional pricing pressure."

Downgrades:

Issuer: Seventy Seven Energy Inc.

  Corporate Family Rating, Downgraded to Caa1 from B2
  Probability of Default Rating, Downgraded to Caa1-PD from B2-PD
  Senior Unsecured Regular Bond/Debenture, Downgraded to
   Caa3(LGD6) from Caa1(LGD5)

Issuer: Seventy Seven Operating LLC

  Senior Secured Bank Credit Facility, Downgraded to B1(LGD2) from

   Ba2(LGD2)
  Senior Unsecured Regular Bond/Debenture, Downgraded to
   Caa2(LGD4) from B3(LGD4)

RATING RATIONALE

Seventy-Seven Energy's Caa1 CFR reflects very high leverage and an
untenable capital structure, exposure to the highly cyclical oil
and natural gas land drilling and hydraulic fracturing activities
and limited track record as a standalone entity competing for
market share with non-Chesapeake Energy Corporation (Ba2 negative)
customers.  The rating is supported by contracts on its fleet of
land drilling rigs and pressure pumping spreads that provide a
measure of revenue visibility in 2016.  The company has a broad
geographic footprint in the onshore US good service line
diversification, relative to similarly rated peers.

SSE's SGL-3 rating is based on our expectation that the company
will maintain adequate liquidity through 2016.  At Sept. 30, 2015,
SSE had $156 million in cash and an undrawn $275 million borrowing
base revolver, which matures in April 2019.  The borrowing base at
September 30 was $163 million with availability of $153 million,
net of $10 million of outstanding letters of credit.  Negative free
cash flow, driven primarily by spending necessary to complete the
company's newbuild drilling rig program, is expected to be
sufficiently funded by cash on hand and drawings under the revolver
through 2016.  The revolver has no financial covenants unless
revolver utilization exceeds 90% of the available borrowing base,
at which time a minimum fixed charge coverage ratio of 1.0x would
be applicable.  Based on limited expected utilization of the
revolver, the company has ample headroom for compliance.  SSE's
assets are fully encumbered, limiting its ability to raise cash
through asset sales.

Seventy Seven Operating LLC (SSO) is an operating subsidiary of SSE
and is the obligor under the revolving credit facility (not rated),
senior secured term loan due 2021 and senior unsecured notes due
2019.  The revolver is secured by a first lien on all of the
company's accounts receivable, inventory and other current assets
as defined in the agreement.  The term loan is secured by a first
lien on all of the company's drilling rigs, oilfield services
equipment and other long-term tangible assets.  The first priority
position and relative size of the term loan results in it being
rated B1, or three notches above the Caa1 CFR under Moody's Loss
Given Default Methodology.

The 2019 notes are unsecured obligations of SSO and guaranteed by
all of SSO's subsidiaries on a senior unsecured basis.  SSE is a
holding company and its senior unsecured notes due 2022 are
unsecured with no subsidiary guarantees until the 2019 notes are
retired.  Therefore the $500 million senior notes are structurally
subordinated to all debts at SSO, resulting in those notes being
rated Caa3, two notches beneath the Caa1 CFR.  The 2019 notes are
subordinate to the senior secured claims of the term loan and
revolver, but ahead of the senior notes at SSE, resulting in the
2019 senior notes being rated Caa2, one notch below the CFR.

The rating outlook is negative reflecting our expectation that
credit metrics will remain extremely weak over the next 12 to 18
months as a result of an industry decline in US land drilling
activity and completions.

SSE's ratings could be downgraded if EBITDA to interest appears
likely to fall below 1x, or if liquidity declines materially.

An upgrade is unlikely through 2016; however, we could consider an
upgrade if the company can sustain a debt/EBITDA ratio approaching
6x.

Seventy Seven Energy Inc. is a publicly traded oilfield services
company that was spun-off from Chesapeake Energy Corporation (CHK,
Ba2 negative) on June 30, 2014.  SSE, through Seventy Seven
Operating LLC and its subsidiary companies owns and operates
drilling rigs, pressure pumping equipment and other oilfield
services assets.

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



ST. MICHAEL'S: Hearing on Exclusivity Extension Bid Set for Nov. 24
-------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey will
convene a hearing on Nov. 24, 2015, at 11:00 a.m., to consider
Saint Michael's Medical Center, Inc., et al.'s request for
exclusivity extension.

The Debtors requested that the Court extend their exclusive periods
to file a chapter 11 plan until April 6, 2016; and solicit
acceptances for that plan until June 5.

The Debtors explained that there are numerous matters that must be
resolved before they can hope to formulate and negotiate a
successful plan of liquidation and prepare the accompanying
disclosure statement containing adequate information.

The Court, in a separate bridge order, granted seven days from the
Oct. 29 order, the Debtor's time to remove actions.

The Debtors are represented by:

         Michael D. Sirota, Esq.
         Ryan T. Jareck, Esq.
         COLE SCHOTZ, P.C.
         Court Plaza North
         25 Main Street
         P.O. Box 800
         Hackensack, NJ 07602-0800
         Tel: (201) 489-3000
         Fax: (201) 489-1536

                About Saint Michael's Medical Center

Saint Michael's Medical Center, Inc., was incorporated in 2008 to
acquire St. Michael's Medical Center and 2 other now defunct
hospitals (Saint James Hospital and Columbus Hospital) was
acquired from Cathedral Healthcare System Inc., a New Jersey
nonprofit.

SMMC is a second tier subsidiary of Trinity Health Corporation.
The immediate sole corporate member of SMMC is Maxis Health
System, a Pennsylvania not-for-profit corporation.

Established by the Franciscan Sisters of the Poor in 1867, St.
Michael's Medical Center is a 357- bed licensed regional
tertiary-care, teaching, and research center in the heart of
Newark, New Jersey's business and educational district and is
accredited by The Joint Commission.

On Aug. 10, 2015, SMMC Inc. and three affiliated debtors each
filed
a voluntary petition for relief under Chapter 11 of the U.S.
Bankruptcy Code in the U.S. Bankruptcy Court for the District of
New Jersey.  The cases are pending before the Honorable Vincent F.
Papalia, and the Debtors have requested that their cases be
jointly administered under Case No. 15-24999.

The Debtors tapped Cole Schotz P.C. as bankruptcy counsel;
EisnerAmper LLP as financial advisor; and Prime Clerk LLC as
claims and noticing agent.

SMMC estimated $100 million to $500 million in assets and debt.

United States Trustee Region 3, notified the United States
Bankruptcy Court for the District of New Jersey of the appointment
of Susan N. Goodman, RN JD, as patient care ombudsman in the
Chapter 11 case of Saint Michael's Medical Center, Inc., and its
debtor affiliates.

U.S. trustee for Region 3, appointed seven creditors of Saint
Michael's Medical Center Inc. and its affiliates to serve on the
official committee of unsecured creditors.


STACY L. DANLEY II: Court Refuses to Vacate Order Lifting Stay
--------------------------------------------------------------
In a Memorandum Decision dated November 2, 2015, which is available
at http://is.gd/4D5HOsfrom Leagle.com, Judge William R. Sawyer of
the Unites States Bankruptcy Court for the Middle District of
Alabama denied Debtors Stacy L. Danley II and Stephanie Danley's
motion to alter, amend or vacate the September 17, 2015 Order
granting Liberty Bank and Trust in rem relief from the automatic
stay.

Judge Sawyer noted that for eight years, the Danleys have
flagrantly used and abused the bankruptcy process to thwart Liberty
Bank's realization of its collateral, all at Liberty Bank's
expense.  Liberty Bank has offered a mountain of evidence showing
that the Danleys filed the case in bad faith as part of a scheme to
delay and hinder its efforts to foreclose on its now
wildly-in-default mortgages, Judge Sawyer ruled.

The case is In re STACY L. DANLEY II STEPHANIE DANLEY, Chapter 11,
Debtor, CASE NO. 15-80960-WRS (Bankr. M.D. Ala.).

Stacy L. Danley, II Debtor represented by Lee R. Benton, Esq. --
lbenton@bcattys.com -- Benton and Centeno, LLP, Samuel C. Stephens.
Esq. -- sstephens@bcattys.com -- Benton and Centeno, LLP.


SUPERIOR OFFSHORE: Ex-CFO's Suit Against Insurer Remanded
---------------------------------------------------------
Roger D. Burks was the chief financial officer of Superior Offshore
International, Inc., which had obtained a directors and officers
insurance policy from XL Specialty Insurance Company.  Superior
Offshore ultimately reorganized through a Chapter 11 bankruptcy,
and the plan agent sought to recover property that the company
transferred to Burks and to avoid future obligations owed to him.
After XL denied Burks's request for defense expenses and coverage
under the D&O policy, Burks settled the plan agent's claim.

Burks sued XL for breach of the D&O contract, seeking damages for
his defense expenses and the amount of his settlement with the plan
agent.  XL moved for summary judgment on these grounds: (1) the
plan agent's claim was brought outside of the policy period for
this claims-made policy, and the claim was not interrelated with
other prior shareholder derivative actions; (2) XL had no duty to
advance defense expenses because there was no possibility of
coverage for the plan agent's claim, which sought disgorgement and
was therefore not covered by the policy's definition of "loss"; and
(3) XL similarly had no duty to indemnify Burks because the plan
agent sought disgorgement, which was not covered under the policy's
definition of "loss."  The trial court signed a final summary
judgment in XL's favor without specifying the grounds, and Burks
appealed.

In a Substitute Opinion dated November 10, 2015, which is available
at http://is.gd/FGuvw3from Leagle.com, the Court of Appeals of
Texas, Fourteenth District, Houston, overruled the motion for
rehearing as none of the grounds XL alleged in its motion for
summary judgment on Burks's breach of contract claim is
meritorious.  The court affirmed the trial court's judgment on the
non-contract claims, reversed the judgment as to Burk's breach of
contract claim, and remanded the case to the trial court for
proceedings consistent with the opinion.

The case is ROGER D. BURKS, Appellant, v. XL SPECIALTY INSURANCE
COMPANY, Appellee, NO. 14-14-00740-CV.

                   About Superior Offshore

Headquartered in Houston Texas, Superior Offshore International
Inc. (Nasdaq: DEEP) -- http://www.superioroffshore.com/--   
provided subsea construction and commercial diving services to the
offshore oil and gas industry.  Superior Offshore sought Chapter
11 protection (Bankr. S.D. Tex. Case No. 08-32590) on April 24,
2008.  The Debtor disclosed total assets of $67,587,927 and total
liabilities of $54,359,884 in its Schedules.  David Ronald Jones,
Esq., and Joshua Walton Wolfshohl, Esq., at Porter & Hedges LLP,
represented the Debtor as counsel.  H. Malcolm Lovett, Jr. was
appointed as Plan Agent.

The U.S. Trustee for Region 7 appointed five creditors to serve on
an Official Committee of Unsecured Creditors.  Douglas S. Draper,
Esq., at Heller Draper Hayden Patrick & Horn LLC, and Michael D.
Rubenstein, Esq., at Liskow Lewis, represented the Committee as
counsel.  The company's chapter 11 plan of liquidation took effect
in February 2009 and the United States Court of Appeals blessed
the plan in December 2009.


THEODORE GOULD: Tax Refund Suit Dismissed
-----------------------------------------
In the case captioned Theodore B. Gould, Plaintiff, v. United
States of America; John Koskinen, Commissioner of the I.R.S.;
Loretta E. Lynch, Attorney General, Defendants, CASE NO.
3:15-CV-00038 (W.D. Va.), Judge Norman K. Moon of the United States
District Court for the Western District of Virginia,
Charlottesville Division, denied Theodore B. Gould's Motion to
Vacate Prior Decisions and granted Defendants' Motion to Dismiss.

The Plaintiff is seeking, for the third time in the Court, a
"refund" of taxes paid to the Internal Revenue Service pursuant to
a settlement between the Trustee of the Miami Center Liquidating
Trust and the I.R.S.

A full-text copy of Judge Moon's Memorandum Opinion dated November
10, 2015, is available at http://is.gd/fAhiG1from Leagle.com.

Theodore B. Gould, Plaintiff, Pro Se.


US STEEL: S&P Affirms 'BB-' CCR & Revises Outlook to Neg.
---------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB-'
corporate credit rating on Pittsburgh-based steel company U. S.
Steel Corp.  At the same time, S&P revised the outlook to negative
from stable.  In addition, S&P affirmed its 'BB-' issue-level
rating on the company's senior unsecured notes.  S&P's recovery
rating on the unsecured notes remains '3', indicating its
expectation for meaningful (50% to 70%; upper end of the range)
recovery in the event of payment default.

"The negative rating outlook on U. S. Steel Corp. is based on our
expectation that weakness in the steel market will persist over the
next 12 months, continuing to weigh on operating performance. We
expect this weakness to result in strained key credit measures,
including debt to EBITDA of about 5x, and minimal free operating
cash flow in 2016," said Standard & Poor's credit analyst William
Ferara.  "Although we expect the company's liquidity position will
remain "exceptional," we recognize that the company's cash balance
could decline slightly in 2016, reducing a key source of liquidity
unless steel market conditions and prices improve."

S&P could lower the rating if steel prices remain under pressure
whether due to a deterioration in end-market demand or a
continuation of elevated import levels.  Under such a scenario, S&P
would expect 2016 debt leverage to exceed 5x, FFO to debt to fall
below 12%, or EBITDA margins maintained below 5%, which could lead
to a lower rating.  Potentially favorable rulings on the trade
cases and subsequent impact on steel prices could be more visible
in the first half of 2016 and be a key determining factor for the
corporate credit rating on the company.

S&P could revise the outlook to stable if there was an improvement
in the long-term fundamentals for the steel sector, resulting in
credit measures that are consistent with the current rating.  For
instance, to revise the outlook to stable, S&P would expect debt to
EBITDA of roughly 4x to 5x and FFO to debt of nearly 15% in 2016.



VERSO CORP: Reports Q3 Results, Mulls Restructuring, Asset Sales
----------------------------------------------------------------
Verso Corporation on Nov. 16 reported financial results for the
third quarter of 2015.

Results for the quarters ended September 30, 2015 and 2014
include:

Net sales of $782 million in the third quarter of 2015 compared to
$350 million in the third quarter of 2014.

Operating income before special items of $23 million in the third
quarter of 2015 compared to $16 million in the third quarter of
2014.

Adjusted EBITDA of $84 million in the third quarter of 2015,
compared to $41 million in the third quarter of 2014.

                           Overview

"Verso's net sales for the third quarter of 2015 increased $432
million, or 123%, compared to the third quarter of 2014, due
primarily to the addition of net sales resulting from the NewPage
acquisition.  However, when compared to 2014 sales as adjusted to
include the impact of the NewPage acquisition and the sale of the
Bucksport mill, our sales have declined, quarter over quarter,
reflecting an increase in offshore imports and a decline in U.S.
demand for coated papers," the Company said.

"During the third quarter of 2015, Verso recorded special items
affecting operating income totaling $66 million, or $0.80 per
diluted share, primarily related to restructuring costs associated
with the production capacity reduction and optimization of the
Androscoggin mill and the indefinite idling of the Wickliffe mill,
and integrating the legacy Verso and NewPage operations.  During
the third quarter of 2014, special items affecting operating income
were $2 million, or $0.04 per diluted share.

"Despite continuing soft market conditions, Verso saw seasonal
volume increases in the third quarter, particularly in coated
freesheet," said Verso President and Chief Executive Officer David
Paterson.  "In response to a continuing decline in demand and
oversupply of products, we decided to downsize our Androscoggin
mill and indefinitely idle our Wickliffe mill, which together will
reduce Verso's production capacity by 430,000 tons of coated paper
and 130,000 tons of dried market pulp.  We also took 79,000 tons of
market-related downtime across our mill system during the third
quarter.  In the face of these challenges, our employees remained
focused on improving efficiency, reducing costs, and increasing job
safety (achieving double-digit percentage reductions in recordable
and lost time injuries).  Verso also successfully fulfilled its
financial obligations, paying $118 million in interest on our
indebtedness during the third quarter.  Despite these important
achievements, and as we explain further in this press release, we
intend to pursue a restructuring of our balance sheet to address
our continuing cash flow and liquidity concerns."

Potential Restructuring and Asset Sales

"Based on Verso's current liquidity position and our projections of
operating results and cash flows for the remainder of 2015 and
2016, we anticipate that we will not have sufficient resources to
fund our most significant future cash obligations and, therefore,
we believe that there is substantial doubt about our ability to
continue as a going concern in the absence of a restructuring of
our balance sheet.  As a result of our cash flow and liquidity
concerns, we have begun evaluating potential restructuring
alternatives.  We have engaged PJT Partners L.P. to provide us with
restructuring and transactional services and O'Melveny & Myers LLP
to provide us with restructuring legal advice and assistance.  We
have begun discussions with certain of our creditor constituencies
to explore potential restructuring alternatives.  We also are
exploring opportunities to raise funds through potential sales of
certain of our mills and related facilities, which may include the
Stevens Point, Androscoggin and Duluth mills, our recently idled
Wickliffe mill, and the hydroelectric generation facilities
associated with our Androscoggin mill.  Our potential restructuring
could occur in a consensual, out-of-court manner or through a
court-supervised Chapter 11 bankruptcy proceeding.  While we intend
to actively pursue a potential restructuring and potential asset
sales, there can be no assurance that any of these activities will
occur on terms acceptable to us or at all," the Company said.

A copy of Verso Corporation's financial results for the third
quarter of 2015 is available for free at http://is.gd/C2HwmZ


Verso Corporation, together with Verso Paper Holdings LLC, supplies
coated papers to catalog and magazine publishers.  Memphis,
Tennessee-based Verso is one of the largest producers of coated
groundwood paper, operating five paper machines at two mills in
Maine and Michigan.

                         *     *     *

The Troubled Company Reporter, on Aug. 25, 2015, reported that
Moody's Investors Service says Verso Paper Holdings LLC's (B3,
stable) announcement that it will shut down a pulp dryer and coated
paper machine and indefinitely idle a paper mill will further
strain the company's already weak liquidity position and adds
further uncertainty in the company's ability to achieve its synergy
target.  However, the optimization of the remaining capacity at the
company's Androscoggin mill in Maine should led to a reduction in
costs with the elimination of fixed charges and high cost peak
power consumption.


VERSO PAPER: S&P Lowers CCR to 'CCC-', Outlook Negative
-------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Verso Paper Holdings LLC to 'CCC-' from 'B-'.  The
outlook is negative.  At the same time, S&P lowered all its
issue-level ratings on the company.

The downgrade and negative outlook follow Verso's recent
announcement that it has engaged with advisors and will pursue a
capital restructuring of its debt and potentially sell assets,
including recently idled mills.  The company's financial results
through the third quarter have been materially weaker than S&P's
prior forecast, with unfavorable pricing and a greater loss of
volume than S&P had previously anticipated.  As a result, Verso's
liquidity levels, which S&P now views as "weak" in accordance with
S&P's criteria, have deteriorated to levels that it believes are
insufficient to fund operations and service its forthcoming
interest payments over the next six months and that a default is
likely in the absence of a successful restructuring effort.

"The negative outlook reflects our expectation that the company
will require a restructuring of its debt within the next six months
due to interest payments due during that time and that we could
lower the ratings upon announcement of an anticipated missed
interest payment or an exchange offer or similar restructuring that
we view as distressed," said Standard & Poor's credit analyst
Christopher Andrews.  "We will monitor developments related to any
capital restructuring or potential asset sale and the impact of
either activity on the rating and outlook."



ZUFFA LLC: S&P Revises Outlook to Stable & Affirms 'BB-' CCR
------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its rating
outlook on Las Vegas-based Zuffa LLC to stable from negative.  At
the same time S&P affirmed all ratings, including its 'BB-'
corporate credit rating.

"The outlook revision reflects our expectation that 2015 EBITDA
will recover to above 2013 levels after a significant decline in
2014, primarily driven by strong pay per view (PPV) buys and event
ticket sales because of strong interest in marquee fights" said
Standard & Poor's credit analyst Eric Nietsch.

"As a result, we expect adjusted debt to EBITDA will decline to the
low- to mid-3x area at the end of 2015, reversing the spike in
leverage in 2014 that was the result of fighter injuries and
expenses related to international expansion.  While we recognize
that revenue and EBITDA can be volatile because of fighter
injuries, we expect that Zuffa will be able to maintain leverage
below 4x on average.  We also anticipate EBITDA coverage of
interest to remain good for the rating at 6x-8x over the next
couple of years.  Additionally, we view the closure of the Federal
Trade Commission investigation as an expected but positive event,"
S&P noted.

The stable outlook reflects S&P's expectation that despite the
volatility inherent in its event-driven business model, Zuffa's
contractually obligated revenue, primarily from its television
contracts, and growing popularity will drive solid EBITDA growth in
2016.

S&P would lower the ratings if there is a sustained decline in PPV
revenue resulting from economic weakness or a decline in consumer
interest, or if international expansion causes margin
deterioration.  S&P would consider a lower rating if these events
caused debt to EBITDA to be sustained above 4x on average.

Higher ratings are dependent upon contractual broadcasting revenue
increasing to a level that significantly mitigates the negative
cash flow impact from the unanticipated cancelation or rescheduling
of events.  Although unlikely over the next few years, S&P could
consider higher ratings if it believes Zuffa will sustain debt to
EBITDA below 3x on average, incorporating significant EBITDA
volatility over time.



[*] Akerman LLP Launches National Fraud & Recovery Practice Group
-----------------------------------------------------------------
As companies and investors experience increased vulnerability with
the rise in systemic and organized fraud, Akerman LLP, a top 100
U.S. law firm serving clients across the Americas, on Nov. 16
announced the launch of a national Fraud & Recovery Practice Group,
one of the most comprehensive, multidisciplinary legal teams
devoted exclusively to fraud and recovery to be established by a
national law firm.

The new team leverages the combined strengths of lawyers from the
firm's litigation, healthcare, bankruptcy, and data law practices,
including a formidable group of trial and appellate lawyers with
substantial experience litigating fraud cases in state and federal
courts throughout the United States.  Together the group provides
comprehensive fraud management services for large insurance
companies and self-insured retailers, including detection,
investigation, and litigation of complex schemes and unfair and
deceptive practices.  The team also handles corporate theft, and
recovery after data breach, with a focus on financial losses, and
has particular experience in all aspects of liquidating Ponzi
schemes.

The group is led by co-chairs, David I. Spector, who has reshaped
case law in affirmative fraud investigation and litigation, and
Michael I. Goldberg, who is qualified as an expert witness on Ponzi
schemes and has liquidated some of the largest recoveries in U.S.
history.

The formation of the practice group comes at a time of a
significant increase in a variety of organized schemes against
insurers, financial institutions, self-insured retailers and other
businesses targeted by those perpetrating personal injury, health
insurance and property and casualty fraud.  Awareness and
prosecution of investor fraud and Ponzi schemes also have risen in
recent years following several high-profile matters, and the firm
has significant experience in assisting victims who suffer such
losses.

In the insurance and healthcare sectors, the Akerman Fraud &
Recovery Practice Group has a deep understanding of the claims
process, applicable provider regulatory requirements, and risks
facing substantial payers.  The team includes board-certified
healthcare lawyers to analyze medical protocols and identify
patterns of illegitimate activity that point to fraud.

"Driven by growing client demand, our team is dedicated to
representing clients under constant threat of increasingly
sophisticated and complex schemes," Mr. Spector said.  "We have
integrated our longtime investigatory and litigation capabilities
with a deep industry knowledge to aggressively address and
neutralize losses for our clients -- as well as prevent future
losses."

Many of these fraudulent schemes end up in bankruptcy, requiring a
sophisticated, multi-pronged approach to investigate the underlying
fraud, unwind the business, secure the assets, and recover losses
for the victims of the scheme.  Akerman's extensive experience in
representing trustees and creditors in bankruptcy cases involving
Ponzi and other fraudulent schemes enables the firm to represent
clients seamlessly when, and if, fraud litigation shifts to the
bankruptcy and receivership arena. Through the firm's collaborative
efforts, Akerman's clients have been at the forefront of some the
nation's largest recoveries and the creation of new laws that help
companies reduce future financial losses.  The Akerman Fraud &
Recovery Practice Group seeks to continue and expand the firm's
ongoing efforts to protect its clients.

"In the wake of the financial crisis, investors have become more
aware of Ponzi schemes which bilk many investors out of their life
savings.  Our team has handled more Ponzi scheme liquidations than
any other law firm in the United States in the past 25 years,"
Goldberg said.  "This new team formalizes our ongoing collaboration
across practices and allows us to tap our collective experience in
fraud litigation nationally to meet the unique needs of financial
institutions and other victims devastated by fraud."

                      About Akerman LLP

Akerman LLP is a transactions and trial law firm known for its core
strengths in middle-market M&A, within the financial services and
real estate industries, and for a diverse Latin America practice.
With more than 600 lawyers and government affairs professionals and
a network of 20 offices, it is ranked among the top 100 law firms
in the United States by The American Lawyer (2015).  Akerman also
is ranked among the top 50 law firms for diversity in The American
Lawyer's Diversity Scorecard (2015).

Akerman's Fraud & Recovery Practice Group -- http://www.akerman.com
-- provides comprehensive fraud management services to clients
throughout the United States with a focus on investigation and
litigation of complex fraud schemes and unfair and deceptive
practices.  The team advises clients in the insurance, healthcare,
and retail sectors on strategic prevention, proactive detection and
investigation, affirmative litigation, and exhaustive recovery.


[*] Global Regulators Finish Bank 'Bail-In' Proposal
----------------------------------------------------
Cara Salvatore at Bankruptcy Law360 reported that the Financial
Stability Board issued its final proposal on Nov. 9, 2015, for
rules that would require big banks, including Citigroup Inc. and
Goldman Sachs Group Inc. in the U.S., to hold enough equity capital
and bonds to avoid taxpayer-funded bailouts in times of crisis.

The final rules proposed on Nov. 9, 2015, by the international
body, which was created in 2009, concern rules for total
loss-absorbing capacity, or TLAC, the last major reform left after
the financial crisis.


                            *********

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 ***