TCR_Public/151123.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, November 23, 2015, Vol. 19, No. 327

                            Headlines

800 BUILDING: Court Finds Improper Allocation in Locke Lord Fees
99 CENTS ONLY: S&P Revises Outlook to Neg. & Affirms 'B-' CCR
ALL AMERICAN TRAILER: 11th Cir. Vacates Order Dismissing Bankruptcy
ALLIANCE ONE: Needs More Time to File Third Quarter Form 10-Q
ALPHA NATURAL: Arranges $30MM Hike in DIP Financing Capacity

ALPHA NATURAL: Committee Objects to Changes to Credit Agreement
ALVION PROPERTIES: Creditors Object to Hiring of Disbursing Agent
AMERICAN APPAREL: Delays Third Quarter Form 10-Q Filing
AMERICAN BUILDERS: Moody's Gives B3 Rating to New $350MM Notes
AMERICAN BUILDERS: S&P Affirms 'BB-' CCR & Rates $350MM Notes 'BB-'

ANNA'S LINENS: Asks TCI to Pay $33.1K Indebtedness
ANNA'S LINENS: Enters Into $1 Million Settlement With Transplace
APPLIED MINERALS: Posts $1.79 Million Net Income for Third Quarter
ASOCIACION AZUCARERA: Case Summary & 20 Top Unsecured Creditors
ASTANA FINANCE: Chapter 15 Case Closed

BEAZER HOMES: Posts $344 Million Net Income for Fiscal 2015
BIOLIFE SOLUTIONS: Incurs $1.29 Million Net Loss in Third Quarter
BRE-X MINERALS: Claims Bar Date Slated for December 21
CENTAWORLD HOLDING: Suit Over Property Dispute Remanded
COCO BEACH: Carrasquillo OK'd to Withdraw as Financial Consultant

COCO BEACH: Charles Alfred Cuprill Okayed to Resign as Counsel
COMSTOCK MINING: Van Den Berg Reports 19.5% Stake as of Oct. 31
CONSTELLATION BRANDS: Fitch Assigns BB+ Rating on $400MM Sr. Notes
CONSTELLATION BRANDS: Moody's Rates New $400-Mil. Notes 'Ba1'
CONSTELLATION BRANDS: S&P Rates New $400MM Unsec. Notes 'BB+'

COYNE INT'L: Hires GZA Geoenviromental as Environmental Consultant
CRYSTAL WATERFALLS: Case Summary & 10 Largest Unsecured Creditors
CTI BIOPHARMA: FMR LLC Reports 13.8% Stake as of Oct. 30
CUYAHOGA, OH: Moody's Hikes Rating on $71-Mil. Bonds to Ba1
DM RECORDS: Case Summary & 20 Largest Unsecured Creditors

ECO BUILDING: Posts $99,900 Net Income for Third Quarter
EUROMODAS INC: Case Summary & 14 Largest Unsecured Creditors
EVANGELICAL HOMES: Fitch Affirms 'BB+' Rating on 2013 Bonds
FINJAN HOLDINGS: Provides Shareholders with Update for Q3 2015
FIRST DATA: FMR LLC Owns 17% of Class A Shares as of Nov. 23

FIRST DATA: Incurs $126 Million Net Loss in Third Quarter
FISKER AUTOMOTIVE: Says BMW Owes $33M for Undelivered Engines
FOUNDATION HEALTHCARE: To Acquire UGH for $33 Million
FRAMINGHAM 300: Case Summary & 6 Largest Unsecured Creditors
FUSION TELECOMMUNICATIONS: Signs New Employment Agreement with CEO

GUIDED THERAPEUTICS: FDA Grants Request for New Meeting Date
H. KREVIT AND COMPANY: ACM Agrees to Provide $1.5M DIP Financing
H. KREVIT AND COMPANY: Case Summary & 20 Top Unsecured Creditors
H. KREVIT AND COMPANY: Files for Chapter 11 Bankruptcy Protection
H. KREVIT AND COMPANY: Proposes Rogin Nassau as Bankr. Counsel

HAVERHILL CHEMICALS: Cash Collateral Use Termination Date Extended
HII TECHNOLOGIES: AES Ad Hoc Committee Seeks to Amend Cash Order
HOVENSA LLC: Committee Seeks to Hire BRG as Financial Advisor
HOVENSA LLC: Committee Taps Hamm Eckard as Co-counsel
HOVENSA LLC: Committee Wants to Hire Dentons US as Counsel

HOVENSA LLC: U.S. Trustee Amends Committee of Unsecured Creditors
HUDSON'S BAY: S&P Affirms 'B+' CCR, Off CreditWatch Neg.
ICTS INTERNATIONAL: Annual General Meeting Set for Dec. 15
INTERLEUKIN GENETICS: Incurs $2.02 Million Net Loss in 3rd Quarter
IZING PROPERTIES: Case Summary & 6 Largest Unsecured Creditors

JEFFERSON COUNTY, AL: Fitch Affirms BB Rating on 2013 Sewer Bonds
KCP COMMUNICATIONS: Landlord Wants Alleged Debtor Evicted
KID BRANDS: Can Employ Province Inc. as GUC Trustee
KLEEN ENERGY: Fitch Affirms 'BB' Ratings on $730MM Loans
KLOSTERMAN EQUIPMENT: "Opperman" Suit Recommended for Dismissal

LA HABICHUELA: Case Summary & 18 Largest Unsecured Creditors
LEVEL 3: Southeastern Asset Reports 10.7% Stake as of Nov. 23
LIFEPOINT HEALTH: Fitch Assigns 'BB' Rating on $300MM Sr. Notes
LIFEPOINT HEALTH: Moody's Rates $300MM Unsecured Notes Ba2
LIFEPOINT HOSPITALS: S&P Assigns 'BB-' Rating on $300MM Sr. Notes

MICHIGAN FINANCE: Moody's Assigns Ba1 Rating on Series 2015C Bonds
MICHIGAN FINANCE: Moody's Rates Series 2015 D-2 Bonds' Ba1
MICHIGAN POWER: S&P Assigns Prelim. 'BB+' Rating on $263MM Loans
MMRGLOBAL INC: Majority of Security Holders OK Reverse Split
MOBIVITY HOLDINGS: Reports $1.32 Million Net Loss for 3rd Quarter

MOLYCORP INC: U.S. Trustee Balks at Key Employee Incentive Program
MULTI PACKAGING SOLUTIONS: S&P Affirms 'B' CCR; Outlook Stable
MURRAY ENERGY: Moody's Cuts Corporate Family Rating to Caa1
NATIONAL CINEMEDIA: Posts $7.7 Million Net Income for Q3
NEONODE INC: FMR LLC Reports 8.4% Stake as of Nov. 9

NEPHROS INC: Incurs $581,000 Net Loss in Third Quarter
NEW DAWN ASSISTED: Files List of 20 Largest Unsecured Creditors
NEW DAWN ASSISTED: Hires Gust Rosenfeld as Attorneys
NEW DAWN ASSISTED: Jennifer Giaimo is Substitute Counsel for UST
NEW DAWN ASSISTED: Seeks Court Approval to Use Cash Collateral

NEWLEAD HOLDINGS: Didn't Complete 2 Coal Supply Contracts
NNN MET CENTER: Taps Alan Sparks as Chief Restructuring Officer
NNN MET: Seeks Interim OK to Use GECC Cash Collateral
OIC RUN-OFF LIMITED: Court Directs Joint Administration of Cases
OLYMPIC PROPERTY: Involuntary Chapter 11 Case Summary

OSPREY VILLAGE: Tranzon to Sell Property on December 9
PHOENIX INDUSTRIAL: S&P Reinstates 'D' Rating on 2013 Rev. Bonds
PLEASE TOUCH: U.S. Trustee Withdraws Objection to Isdaner Hiring
PLUG POWER: Incurs $10.2 Million Net Loss in Third Quarter
QUANTUM FUEL: Reports Third Quarter 2015 Financial Results

QUEST IMPERIAL: Case Summary & 11 Largest Unsecured Creditors
QUEST SOLUTION: 2 Units Ink SAS Agreement with Faunus Group
QUEST SOLUTION: Amends Settlement Agreement with Former President
QUEST SOLUTION: Closes Acquisition of ViascanQData
QUEST SOLUTION: Satisfies $747K Wells Fargo Debt

QUEST SOLUTION: Signs Various Agreements with Investors
QUEST SOLUTION: Thomas Miller Quits as CEO
QUICK CASH: Court Allows "Tullie" Class Claim
REMINGTON OUTDOORS: Moody's Cuts Corporate Family Rating to Caa1
REX ENERGY: Moody's Cuts Corporate Family Rating to Caa1

ROBERTO SEBELEN MEDINA: Court Dismisses Suit vs. Municipality
ROCKWELL MEDICAL: Incurs $2.41 Million Net Loss in Third Quarter
SANUWAVE HEALTH: Incurs $1.02 Million Net Loss in Third Quarter
SB PARTNERS: Posts $13.6 Million Net Income for Third Quarter
SCADATECH: Involuntary Chapter 11 Case Summary

STANDARD REGISTER: Taps Landen C. Williams as Interim President
TEMPNOLOGY LLC: Bid to Determine Scope of Creditor's Election OK'd
TEXAS LEADERSHIP: S&P Lowers Rating on Bonds to 'BB-'
THOMPSON CREEK: S&P Lowers CCR to 'CCC+', Outlook Negative
TRAFALGAR POWER: Suit Against Algonquin Power, et al., Dismissed

TRUMP ENTERTAINMENT: Atlantic City Casino Tax Measure Declines
USA DISCOUNTERS: Claims Bar Date Set for December 29
USA DISCOUNTERS: Lease Decision Period Extended Thru March 2016
USAGM TOPCO: S&P Affirms 'B' CCR on Delayed Draw Financing
USG CORP: Fitch Affirms 'B+' IDR & Revises Outlook to Positive

VERSO PAPER: Moody's Cuts Rating to Caa2 CFR Over Default Concerns
WALTER ENERGY: Seeks Approval of KERP for 26 Employees
WHITING PETROLEUM: Moody's Cuts Corporate Family Rating to Ba2
YRC WORLDWIDE: Presented at Stephens Fall Investment Conference
Z TRIM HOLDINGS: Steven Cohen Resigns as Director

[*] Better Economy Translates Declining Market for Bankruptcy
[] Lawmakers Want Information About Online Lenders for Loans
[^] BOND PRICING: For the Week from November 16 to 20, 2015

                            *********

800 BUILDING: Court Finds Improper Allocation in Locke Lord Fees
----------------------------------------------------------------
In a Findings of Fact and Conclusions of Law dated November 10,
2015, which is available at http://is.gd/efzsRmfrom Leagle.com,
Judge Jacqueline P. Cox of the United States Bankruptcy Court for
the Northern District of Illinois, Eastern Division, ruled that
there was improper allocation of Professional Resources to Locke
Lord LLP in the allowance and payment of its first interim
compensation and reimbursement of expenses and Overhead Costs are
Non-Compensable because they are built into the hourly rate.

The case is In re: THE 800 BUILDING, LLC, Chapter 11, Debtor(s),
CASE NO. 15 B 17314 (Bankr. N.D. Ill.).

The 800 Building, LLC, Debtor, represented by:

          David J. Fischer, Esq.
          Phillip W. Nelson, Esq.
          LOCK LORD LLP  
          111 South Wacker Drive
          Chicago, IL 60606
          Phone: 312-443-0700
          Fax: 312-443-0336
          Email: david.fischer@lockelord.com
                 phillip.nelson@lockelord.com

                      About The 800 Building

The 800 Building, LLC, owns and operates two adjacent but related
rental properties in downtown Louisville, Kentucky: (a) a 246-unit
residential apartment building known as The 800 Building, with a
street address of 800 South 4th Street; and (b) a 48-slot parking
garage, with a street address of 820 South 4th Street.  The
company is owned by Leon and Helen Petcov and is managed by Leon
Petcov.

The 800 Building, LLC sought Chapter 11 protection (Bankr. N.D.
Ill. Case No. 15-17314) on May 15, 2015.  The Debtor disclosed
$21,564,298 in assets and $33,706,487 in liabilities as of the
Chapter 11 filing.

The case is assigned to Judge Pamela S. Hollis.  The Debtor tapped
Phillip W. Nelson, Esq., at Locke Lord LLP, in Chicago, as counsel.


99 CENTS ONLY: S&P Revises Outlook to Neg. & Affirms 'B-' CCR
-------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on City of
Commerce, Calif.-based 99 Cents Only Stores to negative from
stable.  At the same time, S&P affirmed the 'B-' corporate credit
rating on the company.

S&P also lowered its issue-level ratings on the company's term loan
facility to 'B-' from 'B'.  S&P revised the recovery rating to '3',
indicating its expectations of meaningful recovery at the upper
half of the 50% to 70% range in the event of a payment default,
from '2' at the lower half of the range.

S&P affirmed its 'CCC' issue-level rating on the company's $250
million senior notes.  The recovery rating remains a '6' indicating
S&P's expectations for negligible (0% to 10%) recovery in the event
of a payment default.

"The outlook revision follows weaker-than-expected performance
through the first half of fiscal 2016, which has led to reduced
earnings expectations for both fiscal 2016 and 2017," said credit
analyst Declan Gargan.  "99 Cents Only has experienced significant
management turnover during the past year, which we believe has led
to operational challenges, including inventory management issues,
failed promotions, and store cannibalization."

The negative outlook on 99 Cents Only reflects the risk of further
deterioration in credit protection measures in the coming year
should merchandising and other initiatives not stabilize
performance.  S&P expects profitability to remain pressured as the
company clears a backlog of seasonal inventory and deals with the
after effects of loss-leading promotions earlier in the year amid
an increasingly competitive discount environment in 99 Cents Only's
core California market.  S&P believes the company will need to rely
on its revolver to fund its cash flow needs during the current
fiscal year.

S&P could lower the rating over the next year if management's
turnaround efforts fail to reverse the decline in same-store sales
and profits, leading to further deterioration in coverage ratios
and requiring the company to continuously fund its cash flow
shortfall with its revolver.  This could occur if gross margins
compress 100 bps beyond S&P's expectations.  If 99 Cents Only's
operating performance and liquidity deteriorates more than
expected, S&P believes credit protection metrics could reach levels
consistent with an unsustainable capital structure.

S&P could revise its outlook to stable if 99 Cents Only's
turnaround efforts lead to consistent positive same-store sales
growth and stabilized margins.  Additionally, the company would
need to generate positive free operating cash flow such that
interest coverage improved closer to 2.0x on a sustained basis.
However, S&P believes this is unlikely in the next year given that
it would require material gross margin expansion and revenue
growth.



ALL AMERICAN TRAILER: 11th Cir. Vacates Order Dismissing Bankruptcy
-------------------------------------------------------------------
Pro Finish, Inc., appeals a judgment affirming an order that
dismissed nunc pro tunc to April 30, 2013, the petition of All
American Trailer Manufacturers, Inc., for bankruptcy.

In a Decision dated November 9, 2015, which is available at
http://is.gd/J903nYfrom Leagle.com, the United States Court of
Appeals for the Eleventh Circuit vacated the order affirming the
nunc pro tunc order, and remanded the case for the district court
to dismiss for lack of subject matter jurisdiction.

Pro Finish lacks standing to challenge the nunc pro tunc order, the
Eleventh Circuit ruled.  That order implemented an earlier ruling
to dismiss the petition for bankruptcy of All American Trailer and
did not affect the rights of Pro Finish as a creditor.  When the
bankruptcy court issued the nunc pro tunc order, a Florida court
already had dismissed Moffa's petition for assignment of the assets
of All American Trailer.  Pro Finish argues that it was prejudiced
because the nunc pro tunc order issued after Pro Finish had
released its judgment lien against All American Trailer, but any
injury to the priority of Pro Finish as a creditor is attributable
to its actions, not to the nunc pro tunc order.  Because Pro Finish
did not suffer any immediate, tangible harm that would give it
standing to challenge the nunc pro tunc order, its appeal is not
fit for adjudication.

The case is In re: ALL AMERICAN TRAILER MANUFACTURERS, INC.,
Debtor. PRO FINISH, INC., Plaintiff-Appellant, v. JOHN A. MOFFA,
assignee of the assignment Estate of All American Trailer
Manufacturers, Inc., Defendant-Appellee, NO. 15-10619, NON-ARGUMENT
CALENDAR.

All American Trailer Manufacturers, Inc. filed a Chapter 11
petition (Bankr. S.D. Fla. Case No. 12-24619) on June 15, 2012,
listing under $1 million in both assets and liabilities.  A copy
of
the petition is available at no extra charge at
http://bankrupt.com/misc/flsb12-24619.pdf Eduardo E. Dieppa, III,

Esq. -- edieppa@dieppalaw.com -- at Dieppa Law Firm P.A., served
as
Chapter 11 counsel.


ALLIANCE ONE: Needs More Time to File Third Quarter Form 10-Q
-------------------------------------------------------------
Alliance One International, Inc., filed with the U.S. Securities
and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its quarterly report on Form 10-Q for the quarter ended
Sept. 30, 2015.

As previously disclosed in a press release included as Exhibit 99.1
to a Current Report on Form 8-K filed with the SEC on Nov. 9, 2015,
Alliance One has experienced a delay in completing the financial
statements to be included in its Quarterly Report on Form 10-Q for
the three months ended Sept. 30, 2015.  As a result of the delay,
the Company was unable to file the Form 10-Q by the prescribed due
date without unreasonable expense or delay.

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 the Company's previously announced
restructuring and cost-saving initiative.  The Company reported
these discrepancies to the SEC on Nov. 6, 2015, and has received a
written request from the SEC to preserve documents and other
materials relating to the discrepancies.

Presently available information suggests that the discrepancies may
date back to 2008 or earlier and could reach approximately $40
million in aggregate.  Because the Company 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.  The Company has no evidence indicating
similar issues elsewhere within its organization and believes the
problems are unique and limited to the Kenyan operation.

Due to the ongoing review, the Company was unable to file the Form
10-Q by the prescribed Nov. 9, 2015, deadline without undue effort
and expense.  The Company said it is working toward filing the Form
10-Q as soon as practicable.  At this time, the Company is unable
to represent that the Form 10-Q for the three months ended Sept.
30, 2015, will be filed on or before the fifth calendar day
following its prescribed due date.

                        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-'.


ALPHA NATURAL: Arranges $30MM Hike in DIP Financing Capacity
------------------------------------------------------------
Alpha Natural Resources, Inc., et al., have sought authority from
the U.S. Bankruptcy Court for the Eastern District of Virginia,
to:

     (a) supplement their debtor in possession financing by
         adding up to $30 million of additional letter of credit
         capacity under the Term L/C Facility as set forth in
         the Waiver and Amendment No. 3 to the Superpriority
         Secured Debtor-in-Possession Credit Agreement, dated as
         of Nov. 2, 2015, and

     (b) pay required fees associated with this increase in
         financing capacity.

Henry P. (Toby) Long, III, Esq., at Hunton & Williams LLP,
explained that the Debtors have needs for additional letter of
credit capacity in connection with the ongoing ordinary course
operation of their businesses.

According to Mr. Long, the Debtors initially had contemplated
adding capacity to issue additional letters of credit in connection
with a new revolving credit facility to replace their prepetition
receivables facility with General Electric Capital Corp.  In
particular, the DIP Order expressly contemplated the addition of a
DIP Revolving Facility in an amount of up to $200 million for this
and other purposes.  At the current juncture, however, the Debtors
have been unable to obtain the DIP Revolving Facility and have
determined that their need for additional letter of credit capacity
can most efficiently be satisfied through an amendment to the Term
L/C Facility that will permit the Debtors to issue up to $30
million in new letters of credit.  Amendment No. 3 also includes
other modifications to the DIP Credit Agreement.

                        The DIP Financing

On Sept. 17, 2015, the Court authorized the Debtors to obtain the
DIP Financing consisting of, among other things:

     (a) a term loan in the amount of $300 million (the "DIP
         Term Facility"), a portion of which has been used to
         fund a cash collateralized letter of credit facility
         (the "Term L/C Facility" and, together with the DIP Term
         Facility, the "First Out Facility"), each governed by
         the DIP Credit Agreement;

     (b) a facility for letters of credit issued to extend,
         renew or replace letters of credit (the "Existing R/C
         Letters of Credit") in an aggregate stated amount of
         approximately $192 million (the "Second Out Facility");
         and

     (c) an accommodation facility for certain bonding requests
         of up to $100 million, subject to increase under the
         terms set forth in DIP Credit Agreement (the "Bonding
         Accommodation").  

Citibank, N.A. is the administrative and collateral agent in
connection with the First Out Facility (the "DIP Agent") for the
lenders and letter of credit issuers under the DIP Credit Agreement
(the "DIP Lenders").

On Sept. 17, 2015, the Debtors entered into Amendment No. 1 to the
DIP Credit Agreement.  Amendment No. 1 conformed the DIP Credit
Agreement with the DIP Order and addressed nonmaterial changes that
had occurred since the Petition Date.

On Sept. 18, 2015, the Debtors entered into Amendment No. 2 to the
DIP Credit Agreement.  Amendment No. 2 was nonmaterial and provided
the Debtors with additional time to obtain the entry of the final
cash management order.

Since the entry of Amendment No. 2, the Debtors have determined
that additional changes to the DIP Financing are necessary and
appropriate and negotiated Amendment No. 3 with the DIP Agent and
the DIP Lenders.  Amendment No. 3 provides for among other things:

  -- NONMATERIAL AMENDMENTS.  Amendment No. 3, among other things,
modifies the DIP Credit Agreement to: (a) defer the requirement for
filing quarterly financial statements for the fiscal quarter ended
Sept. 30, 2015 until March 31, 2016; (b) eliminate the requirement
that monthly reporting include impairment testing; (c) approve the
current format of Monthly Operating Reports, with disclosed
differences from GAAP; and (d) provide for an agreed upon form of
Compliance Certificate.

  -- MATERIAL AMENDMENTS.  The Debtors have agreed to changes with
respect to certain of the Debtors' bankruptcy case milestones and
financial covenants.  The parties agreed that it would be
beneficial for the Debtors to have additional time to finalize an
Agreed Business Plan, complete other business and restructuring
activities and develop strategies for the successful completion of
these cases.  To that end, Amendment No. 3 eliminates the Oct. 30,
2015 Initial Business Plan Milestone and the Timeline Milestone and
extends the Final Business Plan Milestone to Jan. 8, 2016.
Amendment No. 3 also adds certain additional interim milestones in
advance of a restructuring support agreement to be agreed upon by
Jan. 8, 2015 based on the final Agreed Business Plan.  

Specifically, the Debtors have agreed to these new or modified case
milestones:

     (a) Deliver to the DIP Agent (for distribution to the
private-side DIP Lenders) a mine-by-mine analysis, detailing, among
other things, historical and projected financials, transportation
methodologies, coal types, mining method, facilities, annual
capacity and asset retirement obligation liabilities, (i) with
respect to an initial set of mines (starting, to the extent
possible, with the largest mines) by no later than Nov. 10, 2015,
and (ii) with respect to all mines not covered in the foregoing
delivery, by no later than Nov. 20, 2015.

     (b) No later than Nov. 30, 2015, identify and add additional
assets, reasonably acceptable to the Required Lenders, to the
pending asset sale process and populate one or more datarooms with
information and finalize marketing materials to support the
marketing process related thereto.

     (c) No later than Jan. 8, 2016: (i) populate one or more
datarooms and finalize related marketing materials to support the
marketing processes for certain assets reasonably acceptable to the
Required Lenders; (ii) deliver to the DIP Agent the final Agreed
Business Plan; and (iii) enter into a restructuring support
agreement with the Required Lenders and the DIP Agent, in form and
substance satisfactory to the Required Lenders and the DIP Agent,
based on the Agreed Business Plan (the "Restructuring Support
Agreement").

  -- INCREASE IN TERM L/C CAP.  The Debtors seek authority to
modify commitments to provide an increase in letter of credit
capacity under the Term L/C Facility from $108 million to as much
as $138 million.  The Debtors require additional access to letters
of credit to backstop workers' compensation, bonding and
reclamation obligations and to meet other regulatory and commercial
obligations.

A full-text of the Debtors' motion to enter into the Third
Amendment is available for free at:

   http://bankrupt.com/misc/Alpha_N_804_M_3rd_Am_DIP_Loan.pdf

                          *     *     *

According to the docket, following a hearing held Nov. 17, the
Court granted the Motion with amendments as set out in open court.
An order is to be submitted.

                       About Alpha Natural

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

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

Judge Kevin R. Huennekens presides over the cases.

The Debtors tapped David G. Heiman, Esq., Carl E. Black, Esq., and
Thomas A. Wilson, Esq., at Jones Day, as general counsel.  The
Debtors tapped Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P.
(Toby) Long, III, Esq., and Justin F. Paget, Esq., at Hunton &
Williams LLP, as local counsel.  Rothschild Group is the Debtors'
financial advisor.  Alvarez & Marshal Holdings, LLC, is the
Debtors' investment banker.  Kurtzman Carson Consultants, LLC, is
the Debtors' claims and noticing agent.

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


ALPHA NATURAL: Committee Objects to Changes to Credit Agreement
---------------------------------------------------------------
The Official Committee of Unsecured Creditors in Alpha Natural
Resources, Inc., et al.'s Chapter 11 cases raised objections to the
Debtors' proposal to enter into an amendment to their $692 million
DIP credit agreement, which the Debtors say would increase the term
letter of credit capacity from $108 million up to as much as $138
million and adjust their deadline to file a five-year business plan
until January 2016.

The Creditors Committee avers that Amendment No. 3 to the DIP
Credit Agreement appears to provide negligible benefit to the
Debtors, but will cost their estates dearly and will compel the
Debtors to advance this restructuring in a manner that is
inconsistent with what was recently advertised to the Court as the
basis for the DIP Financing.

Amendment No. 3 provides for an increase in the Term L/C Cap under
the DIP Credit Agreement from $108 million up to as much as $138
million.  The Committee, however, notes that the Debtors may only
access $5 million of this $30 million increase in the Term L/C Cap
in their discretion.  To access the remaining $25 million, the
Debtors must provide the DIP Lenders a written request on at least
five business days' notice setting forth (i) the requested amount
of the additional Term Facility Letter of Credit and (ii) a
reasonably detailed summary of its stated purpose.  Thus, according
to the Committee, this modification only provides the Debtors with
$5 million of additional letter of credit capacity and the
remainder is subject to further consent.

The Debtors, the Committee adds, have agreed to pay fees that are
disproportionately large in relation to the $5 million increase in
Term L/C Cap.  It notes that Amendment No. 3 obligates the Debtors
to pay up to $750,000 in amendment fees to the DIP Lenders who
consent to the amendment -- i.e., 0.25% of the outstanding
principal amount of each DIP Lender's Term Loans (the "Amendment
Fee"), as well multiple fees to the DIP Agent.  The Amendment Fee
alone is 15% of the $5 million of additional letter of credit
capacity that would become available to the Debtors upon approval
of Amendment No. 3 without need for the DIP Lenders' further
consent.

Moreover, the Committee is complaining that the Debtors have agreed
to include a number of additional DIP Milestones, such as the brand
new RSA Milestone, and make various other modifications to the DIP
Credit Agreement that, permit the DIP Lenders and Pre-Petition
Secured Parties, permit the DIP Lenders to exert even more control
of the Chapter 11 process even though the DIP Credit Agreement
already requires that the DIP Lenders be paid in full in cash.  The
Committee argues that the Debtors have no justification for adding
more restrictive DIP Milestones and other covenants in the DIP
Credit Agreement that will cede even more control to the DIP
Lenders.  One such proposed DIP Milestone is the RSA Milestone,
which requires that the Debtors enter into a Restructuring Support
Agreement with the DIP Lenders "acceptable in form and substance"
to the DIP Lenders (reasonable or not) by January 8, 2016.

The Debtors have filed a motion seeking an extension of the
Exclusive Filing Period by 120 days from Dec. 1, 2015 to March 30,
2016, almost three months from the date of the Jan. 8, 2016 RSA
Milestone.  The Committee says that assuming that the Debtors will
not require three months to draft the plan outlined in the
Restructuring Support Agreement, this deliberate sequencing of
events will have the effect of locking the Debtors into a specific
outcome imposed by the DIP Lenders, while at the same time
preventing other parties in interest -- including unsecured
creditors -- from filing a competing plan or otherwise having a
meaningful, if any, voice in the process for at least five months
after the RSA Milestone, after the Debtors have sought confirmation
of the plan desired by the DIP Lenders..

                  Lenders' & Debtors' Responses

Citibank, N.A., as DIP Agent for the DIP Facilities for itself and
the other DIP Lenders, and Citicorp North America, Inc., as
Pre-Petition Agent for the Pre-Petition Lenders under or in
connection with the Pre-Petition Credit Agreement, responded by
saying that contrary to the Committee's hyperbole, the Amendment
provides substantial benefit to the Debtors' estates at minimal
cost. Specifically, the Amendment:

     (a) revises and relaxes financial reporting requirements
contained in the DIP Credit Agreement to make compliance easier for
the Debtors,

     (b) essentially extends the previous October 30, 2015 case
plan milestone by more than two months, while clarifying and
further specifying what is required by the new deadline,

     (c) deletes in their entirety other milestones between now and
January and

     (d) provides the Debtors with additional liquidity in the form
of new LC capacity necessary for the Debtors to meet certain
collateral support obligations related to a workers' compensation
policy.  

Additionally, pursuant to the Amendment, the DIP Agent and the DIP
Lenders waived certain existing Events of Default related to the
Debtors' failure to comply with specifically negotiated financial
reporting obligations.

The Debtors explain that they already have made progress on these
restructuring activities.  In addition to developing a draft of
their business plan, the Debtors (among many other activities)
have:

     (a) initiated a sale process for certain inactive mining
assets;

     (b) begun to address certain critical labor and benefits
matters, including by filing a motion to terminate certain retiree
benefits; and

     (c) addressed critical issues related to their reclamation
bonding obligations, including by successfully negotiating an
agreement with the State of Wyoming on bonding matters that was
approved by this Court and pursuing a resolution of such issues
with the State of West Virginia.

Although they have made significant progress in these cases, the
Debtors say they continue to face a historically troubled market
for coal that has not yet shown signs of a recovery.  Amendment No.
3 takes into account these market realities in a manner that is
appropriate under the circumstances.

The Debtors continue to discuss the restructuring elements of their
business plan with the DIP Lenders, the ad hoc group of Second Lien
Noteholders and the Committee.  Although a preliminary Agreed
Business Plan was required to be completed and agreed upon under
the DIP Credit Agreement by Oct. 30, 2015, and the Debtors in fact
delivered a plan before that date, aspects of the Debtors' business
plan remain under discussion.  To provide more time to work through
these issues and develop the structure for a chapter 11 plan,
Amendment No. 3 eliminates the Initial Business Plan Milestone, the
Timeline Milestone and the Final Business Milestone -- all set to
occur before the end of 2015 -- and instead creates a new milestone
to develop a Plan Structure Agreement with the DIP Lenders by
January 2016 to provide a framework to begin formulating and
negotiating a chapter 11 plan with the Debtors' stakeholders.  The
Debtors believe that this will permit them to move more quickly to
completing the plan process.

As to the fees, the Debtors aver that Rothschild evaluated the fees
charged in connection with Amendment No. 3 and determined that the
fees were reasonable and within market terms. Specifically,
Rothschild reviewed comparable fees for amendment transactions over
the prior two-year period and concluded that the fees paid here
were comparable with other amendment fees as a percentage of the
total debt.  In addition, according to the Debtors, the costs of
these amendment fees is partially offset by the projected savings
to be achieved by simplifying the Debtors' reporting requirements
(e.g., estimated to be up to $500,000 for impairment testing and
other accounting work in the short term and possibly more in the
future).

                         Reservation of Rights

The Ad Hoc Committee of Certain Second Lien Noteholders of Alpha
Natural Resources, Inc. submitted a reservation of rights.  The
Second Lien Committee says that discussions with the Creditors
Committee are ongoing in an effort to resolve the Creditors
Committee's objection to the Motion.  Accordingly, the Second Lien
Noteholder Committee reserves its rights to be heard regarding the
Motion to the extent that the final version of the Supplemental DIP
Order does not contain terms that are acceptable to the Second Lien
Noteholder Committee.

                            *     *     *

The Debtors' attorneys:

         Tyler P. Brown, Esq.
         J.R. Smith, Esq.
         Henry P. (Toby) Long, III, Esq.
         Justin F. Paget, Esq.
         HUNTON & WILLIAMS LLP
         Riverfront Plaza, East Tower
         951 East Byrd Street
         Richmond, VA 23219
         Telephone: (804) 788-8200
         Facsimile: (804) 788-8218

              - and -

         David G. Heiman, Esq.
         Carl E. Black, Esq.
         Thomas A. Wilson, Esq.
         JONES DAY
         North Point
         901 Lakeside Avenue
         Cleveland, OH 44114
         Telephone: (216) 586-3939
         Facsimile: (216) 579-0212

The Official Committee of Unsecured Creditors' attorneys:

         MILBANK, TWEED, HADLEY & McCLOY LLP
         Dennis F. Dunne, Esq.
         Evan R. Fleck, Esq.
         Eric K. Stodola, Esq.
         28 Liberty Street
         New York, NY 10005
         Telephone: (212) 530-5000

         Andrew M. Leblanc, Esq.
         1850 K Street, NW, Suite 1100
         Washington, DC 20006
         Telephone: (202) 835-7500

              - and -

         William A. Gray, Esq.
         W. Ashley Burgess, Esq.
         Roy M. Terry, Jr., Esq.
         SANDS ANDERSON PC
         P.O. Box 1998
         Richmond, VA 23218-1998
         Telephone: (804) 648-1636

Citibank's attorneys:

         MCGUIREWOODS LLP
         Dion W. Hayes, Esq.
         Sarah B. Boehm, Esq.
         K. Elizabeth Sieg, Esq.
         Gateway Plaza
         800 East Canal Street
         Richmond, VA 23219
         Telephone: (804) 775-1000
         Facsimile: (804) 775-1061

              - and -

         DAVIS POLK & WARDWELL LLP
         Damian S. Schaible
         Eli J. Vonnegut, Esq.
         Damon P. Meyer, Esq.
         450 Lexington Avenue
         New York, NY 10017
         Telephone: (212) 450-4000
         Facsimile: (212) 710-5800

Second Lien Noteholder Committee's attorneys:

         Michael A. Condyles, Esq.
         Peter J. Barrett, Esq.
         Jeremy S. Williams, Esq.
         KUTAK ROCK LLP
         Bank of America Center
         1111 East Main Street, Suite 800
         Richmond, VA 23219-3500
         Telephone: (804) 644-1700
         Facsimile: (804) 783-6192

              - and -

         Paul M. Basta, P.C.
         Stephen E. Hessler, Esq.
         Brian E. Schartz, Esq.
         KIRKLAND & ELLIS LLP
         KIRKLAND & ELLIS INTERNATIONAL LLP
         601 Lexington Avenue
         New York, NY 10022
         Telephone: (212) 446-4800
         Facsimile: (212) 446-4900

              - and -

         James H.M. Sprayregen, P.C.
         Gregory F. Pesce, Esq.
         KIRKLAND & ELLIS LLP
         KIRKLAND & ELLIS INTERNATIONAL LLP
         300 North LaSalle
         Chicago, IL 60654
         Telephone: (312) 862-2000
         Facsimile: (312) 862-2200

                       About Alpha Natural

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

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

Judge Kevin R. Huennekens presides over the cases.

The Debtors tapped David G. Heiman, Esq., Carl E. Black, Esq., and
Thomas A. Wilson, Esq., at Jones Day, as general counsel.  The
Debtors tapped Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P.
(Toby) Long, III, Esq., and Justin F. Paget, Esq., at Hunton &
Williams LLP, as local counsel.  Rothschild Group is the Debtors'
financial advisor.  Alvarez & Marshal Holdings, LLC, is the
Debtors' investment banker.  Kurtzman Carson Consultants, LLC, is
the Debtors' claims and noticing agent.

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


ALVION PROPERTIES: Creditors Object to Hiring of Disbursing Agent
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors and Farmers State
Bank of Alto Pass object to Alvion Properties, Inc.'s motion to
appoint a disbursing agent for purposes of making disbursements
under its proposed plan.

According to Farmers State Bank, the Debtor's Plan and the
transaction contemplated thereby have not been properly documented
to allow the Bank to properly evaluate.

The Committee also objected to Debtor's motion noting that it
believes that the plan is unconfirmable as proposed.  Accordingly,
retention of plan-related professionals at this stage of the case
is premature.

As reported by The Troubled Company Reporter on Oct. 30, 2015, the
Court authorized the Debtor to appoint Robert Eggman, Esq., at
Desai Eggman Mason LLC, as disbursing agent.

The Debtor said it desires to have a disbursing agent receive the
proceeds and ultimately make distribution of the proceeds to its
creditors pursuant to a confirmed Chapter 11 plan or order to
disburse on the approval of the sale of assets.

The Debtor noted Mr. Eggman will charge the firm $360 per hour.
The Debtor said the firm's associates and paralegals will bill $230
and $170 per hour, respectively.  The Debtor added the rate are
good until Dec. 31, 2015.

Mr. Eggman assured the Court that the firm he is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

The Bank is represented by:

         Nick J. Cirignano, Esq.
         ZIEMER, STAYMAN, WEITZEL & SHOULDERS, LLP
         P.O. Box 916
         Evansville, IN 47706-0916
         Tel: (812) 424-7575

                      About Alvion Properties

Alvion Properties, Inc., is a Virginia corporation formed in 1995
with the placement of real property and mineral rights it owns
today.  Alvion owns 1,295 acres of undeveloped land, with
significant coal reserves along with timber and building stone, in
Scott County, Virginia.  Alvion also owns an additional 3,219
acres
of mineral rights in property north of its fee simple ownership.

The current stockholders are Harold M. (Jack) Reynolds and Shirley
Medley.  Mr. Reynolds owns several entities involved in the coal
business.  Shirley and her family also owned coal mines from 1970
to 2010.

Alvion Properties filed a Chapter 11 bankruptcy petition (Bankr.
S.D. Ill. Case No. 15-40462) on May 14, 2015.  Karnes Medley, the
president, signed the petition.  

The Debtor disclosed total assets of $1 billion and total debts of
$2.7 million in its petition.

Antonik Law Offices serves as the Debtor's counsel.

The meeting of creditors was held on June 17, 2015.

The U.S. trustee overseeing the Chapter 11 case of Alvion
Properties Inc. appointed four creditors to serve on the official
committee of unsecured creditors.

                            *     *     *

Pursuant to the Plan, creditors with debts entitled to priority
under Sec. 507 (Class 1), if any, the secured claim of Farmers
State Bank of Alto Pass (Class 2), and general unsecured claims
(Class 3) are unimpaired and will be paid in full, with interest,
from the proceeds of the sale transaction.  Stockholders (Class 4)
will retain ownership of all property of the estate except as
provided by the Plan.

A copy of the First Amended Disclosure Statement dated Sept. 23,
2015, is available for free at:

        http://bankrupt.com/misc/Alvion_P_58_1st_Am_DS.pdf


AMERICAN APPAREL: Delays Third Quarter Form 10-Q Filing
-------------------------------------------------------
American Apparel, Inc. has determined that it is unable to file its
quarterly report on Form 10-Q for the fiscal quarter ended Sept.
30, 2015, within the prescribed time period without unreasonable
effort or expense.

As previously disclosed, on Oct. 5, 2015, the Company and certain
of its domestic subsidiaries filed voluntary petitions in the
United States Bankruptcy Court seeking relief under Chapter 11 of
Title 11 of the United States Code.  The Company said the quantity
and complexity of the Chapter 11 cases has required substantial
management time and attention, which disrupted the Company's normal
closing process, including its independent auditor's review
procedure, for the quarter ended Sept. 30, 2015.  As a result, the
Company has been delayed in its preparation of financial statements
and other documentation relating to the 2015 Q3 Form 10-Q, and it
does not expect to be in a position to complete and file the 2015
Q3 Form 10-Q within the 5-day extension period provided in Rule
12b-25(b).  At this time, the Company is unable to estimate when it
will be able to complete and file such 2015 Q3 Form 10-Q.
The expected changes in operating results for the three and nine
months ended Sept. 30, 2015, as compared to the prior periods in
2014 are presented in the unaudited statements of operations data
contained in Part IV below.  The Company intends on furnishing its
monthly operating reports required in the Chapter 11 cases on Form
8-K while in bankruptcy.  The first MOR is due by Nov. 30, 2015.

As previously disclosed, the Company cautions that trading in its
securities during the pendency of the Chapter 11 cases is highly
speculative and poses substantial risks, and that if the
restructuring plan currently proposed by the Company in the Chapter
11 cases is consummated, its common stock will be extinguished and
the holders of the common stock will not receive any
consideration.

The Company expects to report a net loss of $18.76 million on
$126.05 million of net sales for the three months ended Sept. 30,
2015, compared to a net loss of $19.18 million on $155.86 million
of net sales for the same period in 2014.

The Company also expects to report a net loss of $64.53 million on
$384.71 million of net sales for the nine months ended Sept. 30,
2015, compared to a net loss of $40.85 million on $455.36 million
of net sales for the same period last year.

                      About American Apparel

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

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

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

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


AMERICAN BUILDERS: Moody's Gives B3 Rating to New $350MM Notes
--------------------------------------------------------------
Moody's Investors Service assigned a B3(LGD5) rating to American
Builders & Contractors Supply Co., Inc.'s ("ABC") proposed $350
million senior unsecured notes due 2023. Proceeds from the proposed
notes will be used to term out some borrowings under the company's
asset-based revolving credit facility, repay a portion of ABC's
senior secured term loan maturing 2020, and pay related fees and
expenses. The company utilized its revolver to fund the acquisition
of Norandex Building Material Distribution, Inc. ("Norandex"), a
domestic distributor of siding, windows, doors, roofing, decking,
railing and gutters, on October 31, 2015, and other smaller
acquisitions. ABC also uses its revolver for working capital needs
and dividends.

Moody's expects the proposed notes to have substantially the same
terms and conditions as the existing $500 million Senior Unsecured
Notes due 2021 (rated B3(LGD5)), and to rank pari passu. ABC's B1
Corporate Family Rating and its B1-PD Probability of Default Rating
are not impacted by the proposed transaction, and the B1(LGD3)
rating assigned to the company's senior secured term loan maturing
2020 remains unchanged. The rating outlook is stable.

RATINGS RATIONALE

Moody's views the proposed transaction as a credit positive. Upon
closing, the $750.0 million revolving credit facility will be
virtually undrawn, giving ABC full access to its revolver and more
financial flexibility to contend with growth initiatives. The
acquisition of Norandex expands ABC's product lines and
cross-selling opportunities and reduces reliance on roofing-related
material. However, other risks remain. ABC is now exposed to more
revenue volatility derived from windows and doors relative to the
non-discretionary need for roof repair. Balance sheet debt is
growing and will approximate $2.2 billion upon the refinancing, an
increase of almost 15% from $1.9 billion at FYE13, caused in-part
by higher levels of equipment loans, debt-financed acquisitions and
dividends. Full revolver access gives ABC more flexibility for
growth initiatives, but also provides an opportunity to fund larger
acquisitions as well as higher levels of dividends. Plans for debt
reduction have yet to materialize, making it more difficult to
maintain key debt credit ratios in a downturn. In addition,
interest expense payments are increasing by slightly over $10
million per year, which could stress free cash flow in a downturn.

Nevertheless, Moody's recognizes that the repair and remodeling end
market, the main driver of ABC's revenues, remains solid. Moody's
anticipates key debt credit metrics to remain suitable for the B1
CFR. Interest coverage, measured as (EBITDA-CAPEX)-to-interest
expense, is in the 3.50x -- 3.75x range on a pro forma basis for
the 12 months through 3Q15, and leverage slightly below 4.5x
(ratios include some earnings from Norandex and Moody's standard
adjustments). Beyond term loan amortization of only $12.5 million
per year and minimal equipment loan and capital lease payments, ABC
has an extended maturity profile with no significant maturities
until its revolving credit facility expires in 2018.

American Builders & Contractors Supply Co., Inc. ("ABC"),
headquartered in Beloit, WI, is among the largest national
distributors of exterior building products and roofing supplies in
the US. Diane M. Hendricks Enterprises, Inc. ("DMHE") owns 100% of
the company. Revenues for the 12 months through September 30, 2015
totaled approximately $5.7 billion.



AMERICAN BUILDERS: S&P Affirms 'BB-' CCR & Rates $350MM Notes 'BB-'
-------------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB-'
corporate credit rating on Beloit, Wis.-based American Builders &
Contractors Supply Co. Inc.  The outlook is stable.

At the same time, S&P affirmed its 'BB+' (two notches higher than
the corporate credit rating) issue-level rating on ABC Supply Co.'s
$1.25 billion senior secured bank term loan B due 2020.  The
recovery rating is '1', indicating S&P's expectation of very high
(90% to 100%) recovery for lenders under its default scenario.

S&P assigned its 'BB-' issue-level rating to ABC Supply Co.'s
proposed $350 million senior unsecured notes due 2023 based on
preliminary terms and conditions.  S&P assigned a '4' recovery
rating to these notes, indicating that noteholders can expect
average(30% to 50%) recovery in the event of a default.  S&P
understands that the company will use proceeds from the proposed
notes to refinance existing debt.

At the same time, S&P raised its issue-level rating on ABC Supply
Co.'s $500 million senior unsecured notes due 2021 to 'BB-' from
'B+' (the same as the corporate credit rating).  S&P revised the
recovery rating on the notes to '4' from '5', indicating its
expectation of average (30% to 50%) recovery for noteholders under
its default scenario.

"The affirmation reflects our expectation that ABC Supply Co. will
maintain leverage in a range that is commensurate with an
aggressive financial risk profile, despite improving operating
performance from a combination of product penetration and the
expectation of higher commercial construction spending," said
Standard & Poor's credit analyst Maurice Austin.

The stable rating outlook reflects S&P's expectation that over the
next 12 months the company will continue to generate positive free
cash flow and maintain strong liquidity while maintaining total
leverage (including lease obligations) of less than 5x and FFO to
debt of more than 12%, commensurate with an aggressive financial
risk profile.

A downgrade is less likely in the next 12 months, given S&P's
favorable outlook for home construction and remodeling spending.
However, S&P could take such an action if the U.S. housing recovery
stalls and EBITDA falls in excess of 20% below S&P's 2016 forecast,
causing leverage to increase above 5x.  This could also occur in a
recessionary environment with a decline in gross margins of at
least 200 basis points.  However, S&P's economists only place a 10%
to 15% probability on a new recession.

S&P could raise the rating during the next 12 months if the
increase in new home construction and repair and remodeling
spending is much greater than expected, causing current leverage to
improve and be sustained below 4x and FFO to debt to increase above
20%, in line with a "significant" financial risk profile.



ANNA'S LINENS: Asks TCI to Pay $33.1K Indebtedness
--------------------------------------------------
Anna's Linens, Inc., in an adversary proceeding against Torrey
Commerce, Inc. ("TCI") for breach of contract, asks the U.S.
Bankruptcy Court for the Central  District of California, Santa Ana
Division, to render judgment compelling TCI to pay $33,120.

Pursuant to a Vendor Agreement, the Debtor sold its merchandise to
TCI, and the latter would re-sell the merchandise to third party
customers on TCI's Web sites.  TCI would take and process orders
for the merchandise from customers, and forward an electronic
purchase order to the Debtor.  The Debtor was responsible for
fulfillment of the purchase order, including storage, handling and
shipping. Customers would pay TCI directly for the merchandise, and
TCI would then pay the Debtor bi-weekly for all customer purchases
of merchandise from the websites and shipped by the Debtor less a
management free for TCI.  The Debtor's e-commerce operations,
including the TCI Web site sale, ceased on or before the June 14,
2015 Petition Date and no merchandise returns were permitted after
July 15, 2015, which was the latest possible merchandise return
date under the terms of the Agreement.

Eve H. Karasik, Esq., at Levene, Neale, Bender, Yoo & Brill L.L.P.,
in Los Angeles, California, tells the Court that after entry into
the Agreement, the Debtor performed as required under the
Agreement, and the Defendant paid for such performance.  Ms.
Karasik further contends that on the Petition Date, TCI ceased
making payments to the Debtor as required under the Agreement.  She
contends that TCI advised the Debtor that it is holding back funds
due to it to cover TCI in the event the Debtor is subject to
chargebacks or other costs related to the merchandise and customer
transactions.  Ms. Karasik further contends that the Agreement does
not give TCI any right to holdback funds due to the Debtor under
any circumstances.  She relates that the Debtor's books and records
reflect that TCI failed to pay $33,120 for the Debtor's merchandise
purchased through TCI's Web sites and shipped by the Debtor.  Ms.
Karasik further relates that despite the Debtor's demand, TCI has
failed and refused to pay its indebtedness or any part thereof.

Anna's Linens is represented by:

          David B. Golubchik, Esq.
          Eve H. Karasik, Esq.
          Lindsey L. Smith, Esq.
          LEVENE, NEALE, BENDER, YOO & BRILL L.L.P.
          10250 Constellation Blvd., Suite 1700
          Los Angeles, CA 90067
          Telephone: (310)229-1234
          Facsimile: (310)229-1244
          E-mail: dbg@lnbyb.com
                 ehk@lnbyb.com
                 lls@lnbyb.com

                       About Anna's Linens

Anna's Linens is a specialty retailer offering home textiles,
furnishings and decor at attractive prices.  Headquartered in
Costa Mesa, California, operates a chain of 268 company owned
retail stores throughout 19 states in the United States (including
Puerto Rico and Washington, D.C.) generates over $300 million in
annual revenue and employs a workforce of over 2,500 associates.

Anna's Linens sought Chapter 11 bankruptcy protection (Bankr. C.D.
Cal. Case No. 15-13008) in Santa Ana, California, on June 14,
2015.

The case is assigned to Judge Theodor Albert.  The Debtor tapped
Levene, Neale, Bender, Yoo & Brill LLP as counsel.  The Debtor
estimated assets of $50 million to $100 million and debt of $100
million to $500 million.

The U.S. trustee overseeing the Chapter 11 case of Anna's Linens
Inc. appointed seven creditors to serve on the official committee
of unsecured creditors.



ANNA'S LINENS: Enters Into $1 Million Settlement With Transplace
----------------------------------------------------------------
Anna's Linens, Inc. and Transplace Texas LP ask the U.S. Bankruptcy
Court for the Central District of California, Santa Ana Division,
to approve the stipulation that they had executed, allowing and
directing the payment of Transplace's secured claim.

Before the Debtor filed for bankruptcy, it entered into one or more
agreements with Transplace whereby Transplace agreed to store goods
delivered by the Debtor and provide certain warehouse services.

The Debtor and Transplace had previously entered into a
stipulation, which provided that the Debtor owed Transplace
approximately $1,814,256 ("Prepetition Amount Due").  Transplace
and the Debtor agreed that Transplace was in possession of Stored
Goods with a value in excess of the Prepetition Amount Due such
that Transplace had a secured claim for the Prepetition Amount due.
Subsequently, the Debtor determined that Transplace may not have
held Stored Goods having a value in excess of the Prepetition
Amount due.  Transplace disputed the Debtor's determination.  The
Debtor immediately paid Transplace $700,000 in accordance with the
stipulation.  Transplace was granted an administrative priority
claim for the $1,114,256 balance of the Transplace Secured Claim.

Transplace asserts that it has a valid and enforceable secured
claim in the amount of $1,124,167 ("Remaining Transplace Secured
Claim") and an administrative expense claim for certain unbilled
amounts.  The Debtor disputes the amount of the Remaining Transpace
Secured Claim, contending that there is ambiguity on the Debtor in
Possession Financing Order and a lack of clarity as to the amount
of Stored Goods that Transplace had in its possession as of
Petition Date.  The Debtor also disputes that there are existing
unbilled amounts owed to Transplace.

The Debtor and Transplace agreed to resolve their disputes as to
the amount of the Remaining Transplace Secured Claim and the
asserted unbilled administrative expense claims.

The stipulation provides, among others, the following:

     (a) The allowed Remaining Transplace Secured Claim will be
$1.0 million, and will be paid in full from the Possessory Lien
Reserve.

     (b) Transplace will have no other claim against the Debtor or
the estate, and the Debtor and the estate shall have no claim
against Transplace.

Anna's Linens is represented by:

          David B. Golubchik, Esq.
          Eve H. Karasik, Esq.
          Juliet Y. Oh, Esq.
          John-Patrick M. Fritz, Esq.
          LEVENE, NEALE, BENDER, YOO & BRILL L.L.P.
          10250 Constellation Blvd., Suite 1700
          Los Angeles, CA 90067
          Telephone: (310)229-1234
          Facsimile: (310)229-1244
          E-mail: dbg@lnbyb.com
                  ehk@lnbyb.com
                  jyo@lnbyb.com
                  jpf@lnbyb.com

Transplace Texas is represented by:

           Simon Kimmelman, Esq.
           SILLS CUMMIS & GROSS P.C.
           600 College Road East
           Princeton, NJ 08540
           Telephone: (609)227-4680
           E-mail: skimmelman@sillscummis.com

Salus Capital Partners, LLC, as administrative agent and collateral
agent, is represented by:

          Jeffrey M. Wolf, Esq.
          Nancy A. Mitchell, Esq.
          GREENBERG TRAURIG
          MetLife Building
          New York, NY 10166
          Telephone: (212)801-9200
          Facsimile: (212)801-6400
          E-mail: wolfje@gtlaw.com
                  mitchelln@gtlaw.com

                        About Anna's Linens

Anna's Linens is a specialty retailer offering home textiles,
furnishings and decor at attractive prices.  Headquartered in
Costa Mesa, California, operates a chain of 268 company owned
retail stores throughout 19 states in the United States (including
Puerto Rico and Washington, D.C.) generates over $300 million in
annual revenue and employs a workforce of over 2,500 associates.

Anna's Linens sought Chapter 11 bankruptcy protection (Bankr. C.D.
Cal. Case No. 15-13008) in Santa Ana, California, on June 14,
2015.

The case is assigned to Judge Theodor Albert.  The Debtor tapped
Levene, Neale, Bender, Yoo & Brill LLP as counsel.  The Debtor
estimated assets of $50 million to $100 million and debt of $100
million to $500 million.

The U.S. trustee overseeing the Chapter 11 case of Anna's Linens
Inc. appointed seven creditors to serve on the official committee
of unsecured creditors.



APPLIED MINERALS: Posts $1.79 Million Net Income for Third Quarter
------------------------------------------------------------------
Applied Minerals, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $1.79 million on $43,293 of revenues for the three months ended
Sept. 30, 2015, compared to a net loss of $2.57 million on $55,681
of revenues for the same period during the prior year.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $5.13 million on $271,888 of revenues compared to a net
loss of $5.96 million on $114,688 of revenues for the same period a
year ago.

As of Sept. 30, 2015, the Company had $10.21 million in total
assets, $21.53 million in total liabilities and a $11.31 million
total stockholders' deficit.

Prior to the filing of the Form 10-Q, the Company filed a Form
12b-25 with the SEC notifying its inability to file the Quarterly
Report within the prescribed time period due to its failure to
complete its XRBL file by the prescribed deadline of its filing
service.

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

                       http://is.gd/n9L2Pz

                      About Applied Minerals

New York City-based Applied Minerals, Inc. (OTC BB: AMNL) is a
leading global producer of halloysite clay used in the development
of advanced polymer, catalytic, environmental remediation, and
controlled release applications.  The Company operates the Dragon
Mine located in Juab County, Utah, the only commercial source of
halloysite clay in the western hemisphere.  Halloysite is an
aluminosilicate clay that forms naturally occurring nanotubes.

Applied Minerals reported a net loss of $10.3 million in 2014, a
net loss of $13.06 million in 2013 and a net loss of $9.73 million
in 2012.


ASOCIACION AZUCARERA: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Asociacion Azucarera Cooperativa Lafayette
            dba Hospital Lafayette
        Apartado 448
        Arroyo, PR 00714

Case No.: 15-09159

Nature of Business: Health Care

Chapter 11 Petition Date: November 19, 2015

Court: United States Bankruptcy Court
       District of Puerto Rico (Ponce)

Judge: Hon. Edward A Godoy

Debtor's Counsel: Alexis Fuentes Hernandez, Esq.
                  FUENTES LAW OFFICES, LLC
                  PO BOX 9022726
                  San Juan, PR 00902-2726
                  Tel: (787) 722-5216
                  Fax: (787) 722-5206
                  Email: alex@fuentes-law.com

Total Assets: $3.17 million

Total Liabilities: $1.58 million

The petition was signed by Manuel Quinones, trustee.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb15-09159.pdf


ASTANA FINANCE: Chapter 15 Case Closed
--------------------------------------
The Hon. Michael E. Wiles of the U.S. Bankruptcy Court for the
Southern District of New York closed the Chapter 15 case of JSC
Astana-Finance.

Daniyar Bazarbekovich Bekturganov, as the duly appointed and
authorized foreign representative, filed for the relief.  Brian J.
Lohan, Esq., at Sidley Austin LLP, counsel for the petitioner,
submitted a certification of no objection regarding the motion.

                       About Astana Finance

JSC "Astana Finance", a financial-services company based in
Kazakhstan, is seeking court protection from its U.S. creditors
while it carries out its $1.9 billion restructuring plan in
Kazakhstan.  AF seeks recognition of pending proceedings before
the specialized financial court of Almaty, Kazakhstan, as "foreign
main proceeding".

Marat Duysenbekovich Aitenov, as foreign representative, signed a
Chapter 15 bankruptcy petition (Bankr. S.D.N.Y. Case No. 12-4113).
The petition was filed Oct. 1, 2012.  The Debtor is estimated to
have at least $500 million in assets and at least $1 billion in
liabilities.

Bankruptcy Judge Allan L. Gropper oversees the Chapter 15 case.
Alex R. Rovira, Esq., at Sidley Austin LLP, represented the
Foreign
Representative as counsel.

AF was established as a Kazakhstan government funded body on
Dec. 18, 1997, as the State Enterprise Fund of Economic and Social
Development of Akmola Special Economic Zone in accordance with the
law of Kazakhstan in Astana, Kazakhstan by a decision of the
Administrative Council of Akmola Special Economic Zone.  AF now
acts primarily as the parent company for a group of companies
providing banking and financial services, including a Kazakhstan
bank, JSC Bank Astana Finance.

AF said in court filings that its financial position suffered both
directly and indirectly as a result of the global financial
crisis.  Specifically, the global financial crisis had a negative
impact on the ability of borrowers to repay loans made by AF and
its subsidiaries and on the prices of residential and commercial
real estate in Kazakhstan over which such loans are secured.  As
of Dec. 31, 2009, 62.9% of the loan portfolio of AF's group of
companies was comprised of loans for real estate development and
construction and retail mortgage loans.  In addition, the global
capital markets suffered severe reductions in liquidity, greater
volatility and general widening of spreads which resulted in a
significantly reduced availability of funding for Kazakhstan
borrowers such as AF.

As a consequence of the negative impact on AF of these events, on
several occasions between 2009 and 2011 the credit ratings of AF
were downgraded and were eventually withdrawn in 2011, and AF's
shares were delisted from the Kazakhstan Stock Exchange in October
2010.

AF has submitted a plan that sets out the terms and procedures for
the restructuring and/or cancellation of the indebtedness and
indebtedness guarantees of AF and its subsidiaries.  The principal
amount of indebtedness to be restructured was approximately $1.9
billion (such amount subject to change because of disputed claims
which are in the process of independent adjudication pursuant to,
and in accordance with, the restructuring plan). Claim forms for
the bulk of the debt were submitted.  Only approximately 15% of
the value of the debt was not covered by claim forms, but the debt
will be discharged and canceled in accordance with the terms of
the restructuring plan.

AF has creditors in the United States: (i) the Export-Import Bank
of the United States, an export credit agency; (ii) certain
beneficial owners of notes privately placed inside and outside the
United States; and (iii) certain holders of notes placed
exclusively outside the United States pursuant to Regulation S
only who subsequently purchased Eurobonds in the secondary market.


BEAZER HOMES: Posts $344 Million Net Income for Fiscal 2015
-----------------------------------------------------------
Beazer Homes USA, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing net income of
$344 million on $1.62 billion of total revenue for the fiscal year
ended Sept. 30, 2015, compared to net income of $34.4 million on
$1.46 billion of total revenue for the fiscal year ended Sept. 30,
2014.

For the three months ended Sept. 30, 2015, the Company reported net
income of $356 million on
$633 million of total revenue compared to net income of $59.8
million on $546 million of total revenue for the same period a year
ago.

As of Sept. 30, 2015, Beazer Homes had $2.42 billion in total
assets, $1.79 billion in total liabilities and $630.42 million in
total stockholders' equity.

As of Sept. 30, 2015, the Company's liquidity position consisted
of:

   * $251.6 million in cash and cash equivalents;

   * $101.3 million of remaining capacity under the Facility (due
     to the use of the Facility to secure $28.7 million in letters

     of credit); and

   * $38.9 million of restricted cash, $22.4 million of which
     related to the Company's cash secured loans.

"After returning to profitability last year, 2015 represented a
meaningful step forward in achieving our "2B-10" goals, with growth
in both revenue and Adjusted EBITDA arising from higher community
count, additional closings and an increase in average sales prices.
This was accomplished while maintaining our operating margins, as
the benefit from improving leverage and higher prices offset the
impact from rising costs," said Allan Merrill, CEO of Beazer
Homes.

"Looking ahead to fiscal 2016 and beyond," Mr. Merrill continued,
"we expect significant EBITDA growth, as we benefit from more
closings, further increases in average sales prices and additional
fixed cost leverage, enabling us to achieve our "2B-10" goals in
fiscal 2017, in line with our previous guidance.  At the same time,
we expect to take steps this year to reduce our leverage,
reflecting our view that doing so in an improving market will
create long-term shareholder value."

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

                      http://is.gd/dyqqme

                       About Beazer Homes

Beazer Homes USA, Inc. (NYSE: BZH) -- http://www.beazer.com/--
headquartered in Atlanta, is one of the country's 10 largest
single-family homebuilders with continuing operations in Arizona,
California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada,
New Jersey, New Mexico, North Carolina, Pennsylvania, South
Carolina, Tennessee, Texas, and Virginia.  Beazer Homes is listed
on the New York Stock Exchange under the ticker symbol "BZH."

                           *     *     *

Beazer carries a 'B-' issuer credit rating, with "negative"
outlook, from Standard & Poor's.

In June 2015, Moody's Investors Service upgraded Beazer Homes USA,
Inc.'s Corporate Family Rating to B3 from Caa1 and its Probability
of Default Rating to B3-PD from Caa1-PD.


BIOLIFE SOLUTIONS: Incurs $1.29 Million Net Loss in Third Quarter
-----------------------------------------------------------------
BioLife Solutions, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.29 million on $1.63 million of product sales for the three
months ended Sept. 30, 2015, compared to a net loss of $862,000 on
$1.24 million of product sales for the same period in 2014.

For the nine months ended Sept. 30, 2015, the Company recorded a
net loss of $3.59 million on $4.62 million of product sales
compared to a net loss of $2.30 million on $4.52 million of product
sales for the same period during the prior year.

As of Sept. 30, 2015, the Company had $13.2 million in total
assets, $2.44 million in total liabilities and $10.78 million in
total shareholders' equity.

Mike Rice, BioLife's president & CEO, said, "In the third quarter,
biopreservation media product revenue reached a new record level,
reflecting continued adoption and integration of our products by
our regenerative medicine customers as they initiate and progress
through clinical trials.  We are also in the early stage of product
launch for our evo Smart Shippers and biologistex cloud based cold
chain management app.  biologistex represents a significant growth
opportunity as the regenerative medicine market is realizing the
critical role that cold chain logistics play in the
commercialization of time and temperature sensitive biologic based
products."

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

                        http://is.gd/W1nIwy

                      About BioLife Solutions

Bothell, Washington-based BioLife Solutions, Inc., develops and
markets patented hypothermic storage and cryo-preservation
solutions for cells, tissues, and organs, and provides contracted
research and development and consulting services related to
optimization of biopreservation processes and protocols.

BioLife Solutions reported a net loss of $3.30 million on $6.19
million of total revenue for the year ended Dec. 31, 2014, compared
with a net loss of $1.08 million on $8.94 million of total revenue
during the prior year.


BRE-X MINERALS: Claims Bar Date Slated for December 21
------------------------------------------------------
Deloitte Restructuring Inc., the trustee in the bankruptcy case of
Bre-X Minerals Ltd., seeks to obtain a discharge for Bre-X and make
to distribute to the unsecured creditors of the Debtor who have
filed a valid and proven unpaid claims against the estate.

Persons or entities who have a valid claim against the Debtor are
required to submit a proof of claim form and provide the supporting
documentation to the trustee by Dec. 21, 2015.

The trustee can be reached at:

   Deloitte Restructuring Inc.
   700 Bankers Court, 850 -  2nd Street SW
   Calgary, Ab T2P 0R8
   Tel: (403) 267-1899
   Fax: (403) 718-3681
   Email: calgaryrestructuring@deloitte.ca


CENTAWORLD HOLDING: Suit Over Property Dispute Remanded
-------------------------------------------------------
In an Opinion dated November 9, 2015, which is available at
http://is.gd/SK9jP8from Leagle.com, the District Court of Appeal
of Florida, First District, affirmed in part, reversed in part, and
remanded for further proceedings the cases captioned KEITH HOWARD,
THE HOWARD COMPANY OF THE SOUTHEAST, INC., AND HOWARD ROCK FEE,
LLC, Appellants/Cross-Appellees, v. ROGER MURRAY, K&H DEVELOPMENT
GROUP, INC., A FLORIDA CORPORATION, AND BLA-LOCK DESTIN DEVELOPMENT
GROUP, INC., A FLORIDA CORPORATION, Appellees/Cross-Appellants,
WALTON COUNTY, FLORIDA, Appellee, CASE NOS. 1D14-1841, 1D14-1984,
1D14-1996.

The focus of the parties' dispute is 1.453 acres located within the
Sandestin DRI in South Walton County (Tract 3) which has been a
subject of contention between Keith Howard, The Howard Company of
the Southeast, Inc., and Howard Rock Fee, LLC (Howard/Howard
parties), on the one hand, and Roger Murray, K & H Development
Group, Inc., and Bla-Lock Destin Development Group, Inc.
(Murray/Murray parties), on the other, over a period of some
years.

The final judgment decided that Bla-Lock "has vested commercial
development intensity rights in its 1.453 acre parcel of real
property," quieted title to the real property "along with
associated commercial intensity development rights" in Bla-Lock
against Howard, and decreed that Sandestin Investments, LLC (a
non-party) "is authorized to confirm to the appropriate Walton
County officials that development intensity rights are available to
Bla-Lock," whereupon Walton County could issue a permit to Murray
for building on the lot. An earlier summary judgment, also
reviewable now that final judgment has been entered, had disposed
of other claims.

The court affirmed the summary judgment in favor of Howard on
Murray's claims of tortious interference with a business
relationship, fraudulent misrepresentation, negligent
misrepresentation, and civil theft. The court also affirmed the
trial court's dismissal of Murray's causes of action for inverse
condemnation as not ripe for decision. The court reversed both the
summary judgment in favor of Murray on Howard's claim of tortious
interference with an option Howard had on Tract 3 (and the
underlying business relationship the option represented) and the
final judgment determining Bla-Lock Destin Development Group, Inc.
holds vested (albeit unspecified) development rights in Tract 3
that entitle it to a development order at this time. The court
cannot agree with the learned trial judge that development rights
created by an order authorizing a development of regional impact
but never allocated -- by the development order or otherwise -- to
a specific subparcel are automatically conveyed when the subparcel
is deeded.

Appellants/Cross-Appellees are represented by Donald A. Mihokovich,
Esq. -- don.mihokovich@arlaw.com -- Adams and Reese, LLP, Quinn A.
Henderson, Esq. -- Adams and Reese, LLP, Charles P. Hoskin of
Emmanuel, Esq. -- Sheppard and Condon, and Lisa S. Minshew, Esq. --
Lisa S. Minshew, P.A.

Appellee Walton County, Florida is represented by Carly J.
Schrader, Esq. -- Cschrader@ngnlaw.com --  Nabors, Giblin &
Nickerson, P.A., Gregory T. Stewart, Esq. -- Gstewart@ngnlaw.com --
Nabors, Giblin & Nickerson, P.A. and Heath R. Stokley, Esq. --
Hstokley@ngnlaw.com -- Nabors, Giblin & Nickerson, P.A.


COCO BEACH: Carrasquillo OK'd to Withdraw as Financial Consultant
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico
authorized CPA Luis R. Carrasquillo & Co., P.S.C. to withdraw as
financial consultant to Coco Beach Golf & Country Club, S.E.

Mr. Carrasquillo said that due to certain differences between
Carrasquillo and Debtor's management, Carrasquillo must resign as
Debtor's financial consultant in the case.

Mr. Carrasquillo noted that the Debtor's management is cognizant of
Carrasquillo's resignation, as they agreed on Oct. 26, 2015.

As reported in the Troubled Company Reporter on July 21, 2015, the
duties of Carrasquillo will consist of strategic counseling and
advice, pro forma modeling preparation, financial assistance,
preparation of documentation as requested for and during the
company's Chapter 11, specifically as it is related to and has an
effect on Debtor, as well as recommendations and financial
assessments.

The Debtor has retained Carrasquillo on the basis of a $15,000
advance retainer, paid by the Debtor's affiliate, Petroleum
Emulsion Manufacturing Co.

The Debtor assures the Court that Carrasquillo and the members of
his accounting firm are "disinterested persons" as the term is
defined in Section 101(14) of the Bankruptcy Code and do not
represent any interest adverse to the Debtor and its estates.

The Debtor discloses that except that Carrasquillo has acted as
financial consultant in other bankruptcy cases in which Charles A.
Cuprill, PSC Law Offices, the Debtor's counsel, has or is
representing the debtor, and that Carrasquillo has provided
financial advice to the Debtor's affiliates in reference to the
case In re Scotiabank de Puerto Rico v. Coco Beach Development
Corporation, R-3 Development, LLC, Coco Beach Holdings, Inc., in
Case No. N3CI2012-00608, before the Court of First Instance of
Puerto Rico, Rio Grande Section; and the Debtor's affiliates
Betteroads Asphalt, LLC, Betterecycling Corporation, as creditors
in the case of Alco Corporation, Case No. 12-00139(MCF),
Carrasquillo has no other prior connections with the Debtor, its
officers, directors and insiders, any creditor, or other party in
interest, their respective attorneys and accountants, the United
States Trustee or any person employed in the office of the United
States Trustee.

                      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.


COCO BEACH: Charles Alfred Cuprill Okayed to Resign as Counsel
--------------------------------------------------------------
The Hon. Enrique S. Lamoutte Inclan Bankruptcy Court for the
District of Puerto Rico authorized Charles Alfred Cuprill to resign
as legal representative of Coco Beach Golf & Country Club S.E.

Mr. Cuprill, in his application, cited irreconcilable differences
between Cuprill and Debtor's management as the basis for his
resignation.

Mr. Cuprill also said that the Debtor's management is cognizant of
his resignation as counsel, well as of the status of the captioned
case and all pending matters.

                      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.


COMSTOCK MINING: Van Den Berg Reports 19.5% Stake as of Oct. 31
---------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Van Den Berg Management I, Inc. disclosed that as of
Oct. 31, 2015, it beneficially owned 29,579,066 shares of common
stock of Comstock Mining Inc. which represents 19.47 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/Hsx57k

                       About Comstock Mining

Virginia City, Nev.-based Comstock Mining Inc. is a Nevada-based,
gold and silver mining company with extensive, contiguous property
in the historic Comstock district.  The Company began acquiring
properties in the Comstock District in 2003.  Since then, the
Company has consolidated a substantial portion of the Comstock
district, secured permits, built an infrastructure and brought the
exploration project into test mining production.  The Company
continues acquiring additional properties in the Comstock
district, expanding its footprint and creating opportunities for
exploration and mining.  The goal of the Company's strategic plan
is to deliver stockholder value by validating qualified resources
(measured and indicated) and reserves (probable and proven) of
3,250,000 gold equivalent ounces by 2013, and commencing
commercial mining and processing operations by 2011, with annual
production rates of 20,000 gold equivalent ounces.

Comstock Mining reported a net loss available to common
shareholders of $13.3 million in 2014, a net loss available
to common shareholders of $25.4 million in 2013 and a
net loss available to common shareholders of $35.1 million in
2011.

As of June 30, 2015, the Company had $48.8 million in total assets,
$26.8 million in total liabilities and $22 million in total
stockholders' equity.


CONSTELLATION BRANDS: Fitch Assigns BB+ Rating on $400MM Sr. Notes
------------------------------------------------------------------
Fitch Ratings has assigned a 'BB+/RR4' rating to Constellation
Brands, Inc.'s proposed $400 million senior unsecured notes
offering due 2025.  The Rating Outlook is Stable.

The company intends to use the net proceeds from this offering to
fund a portion of the consideration for Constellation's pending
acquisition of Ballast Point, which is expected to close before
Dec. 31, 2015.  Constellation expects to use cash on hand and
borrowings under their senior credit facility or other credit
facilities to pay for the balance of its pending Ballast Point
acquisition.

As of Aug. 31, 2015, Constellation had $7.4 billion of debt
outstanding and $330 million in cash.

BALLAST POINT TRANSACTION HIGHLIGHTS

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.  Fitch estimates a transaction multiple in the upper-20x
range based on Ballast's 2015 EBITDA.

While relatively modest at only 2% of overall revenue, Ballast
Point's operations should 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).  This would be flat to fiscal 2015 year-end level
and within Fitch's sensitivities for the ratings.  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 assigned these rating to Constellation:

   -- $400 million senior unsecured notes offering due 2025
      'BB+/RR4'.

Constellation's existing ratings are:

Constellation Brands, Inc.

   -- Long-term Issuer Default rating (IDR) 'BB+';
   -- Senior unsecured notes 'BB+/RR4';
   -- $1,150 million senior secured revolver 'BBB-/RR2';
   -- $1,271.6 million senior secured term loan A 'BBB-/RR2';
   -- $241.9 million senior secured term loan A-1 'BBB-/RR2'.

CIH International S.a.r.l.

   -- Long-term IDR 'BB+';
   -- $1,430.1 million European term loan A 'BBB-/RR1'.

The Rating Outlook is Stable.



CONSTELLATION BRANDS: Moody's Rates New $400-Mil. Notes 'Ba1'
-------------------------------------------------------------
Moody's Investors Service today assigned a Ba1 rating to
Constellation Brands Inc.'s new $400 million notes due 2025.
Constellation will use the proceeds for general corporate purposes
including funding of a portion of its pending acquisition of
Ballast Point. The rating outlook is stable.

RATINGS RATIONALE

Constellation's Ba1 Corporate Family Rating reflects its meaningful
scale, which doubled as a result of the June 2013 US Modelo
acquisition, its good product diversification and the successful
integration of the Modelo beer business. Constellation's products
include an extensive portfolio of premium wine, spirits and
imported beers. Constellation is the third largest beer company in
the United States -- albeit well behind the leaders -- and the
largest imported beer company in the country. Moody's expects that
Constellation's portfolio of premium imported Mexican beers will
continue to grow faster than the overall U.S. beer market. The Ba1
rating also reflects Constellation's franchise strength and
diversity with a presence in all three alcohol categories, as well
as its strong cash flow and solid profitability. These strengths
are offset by the company's high leverage, its large capital
spending requirements resulting from the acquisition of the U.S.
Modelo business and an aggressive financial policy. As a result of
increased debt to fund the Ballast Point craft beer acquisition,
Moody's expects Debt/EBITDA leverage to rise to about 4.3 times
(including Moody's adjustments) at the end of the company's fiscal
2016 from 3.9 times for the LTM ended August 31, 2015. Deleveraging
will be slower due to the initiation of a quarterly dividend in May
2015.

An upgrade could occur if the company sustains strong operating
profit, and reduces leverage. An upgrade would also require that
management show a firm commitment to a more conservative financial
policy than its current one, including setting financial targets
that would reduce leverage levels such that debt to EBITDA is
maintained under 3.5 times. Furthermore, there would need to be a
clearly articulated commitment by management to being investment
grade.

A downgrade could occur if operating performance weakens such that
EBITA margins are sustained below 15%, or if for any other reason
debt/EBITDA is sustained above 4.5 times, or liquidity weakens. In
addition, problems related to the brewery expansion in Mexico,
further debt-financed acquisitions or debt-financed shareholder
returns could also lead to a downgrade.

The Ba1 rating on Constellation's unsecured notes is the same as
the company's Ba1 Corporate Family Rating, reflecting Moody's view
that debt that is effectively unsecured represents the
preponderance of debt in the capital structure. Moody's views the
U.S. senior secured credit facilities as effectively pari passu
with the unsecured notes, because they are only secured by a
perfected first priority pledge of the stock of direct and certain
indirect domestic subsidiaries, and other non-domestic subsidiaries
to the extent allowable. Moody's view this type of collateral as
weak, and hence assign a 100% deficiency claim against it -
effectively treating this debt as unsecured from a loss given
default perspective.

Headquartered in Victor, New York, Constellation Brands, Inc.
("Constellation", or "STZ") is a leading alcoholic beverage company
with a broad portfolio of premium brands across the wine, spirits,
and imported beer categories. Major brands in the company's
portfolio include Corona, Modelo, Pacifico, Robert Mondavi, Clos du
Bois, Ravenswood, Blackstone, Nobilo, Kim Crawford, Inniskillin,
Jackson-Triggs, Arbor Mist, Black Velvet Canadian Whisky, Casa
Noble, and SVEDKA vodka. The company's net sales for the twelve
months ended August 31, 2015, approximated $6.3 billion, with about
half of its revenues coming from beer and the rest from wine and
spirits.


CONSTELLATION BRANDS: S&P Rates New $400MM Unsec. Notes 'BB+'
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB+' debt rating
and '3' recovery rating to Constellation Brands Inc.'s proposed
$400 million senior unsecured notes due 2025 (actual amounts and
maturity dates to be finalized at the close of the transaction).
The '3' recovery rating indicates S&P's expectation for meaningful
recovery (the high end of the 50%-70% range) in the event of a
payment default.  Recovery ratings on unsecured debt issued by
companies rated 'BB-' or higher are generally capped at '3' to
account for the greater risk of recovery prospects being impaired
from expected incremental debt issuance prior to default.

The company will issue the notes under its shelf.  S&P expects the
company to use net proceeds of this offering to fund a portion of
the consideration for its pending acquisition of Ballast Point.

S&P's 'BB+' corporate credit rating and stable outlook are not
affected by the transaction.  S&P believes 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.
Nonetheless, S&P believes 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.

Constellation benefits from its ownership of the sole distribution
rights for Corona and other leading Mexican beer brands like Modelo
and Pacifico in the U.S. market.  Moreover, above-average sales
growth should continue over the next several years, as the Mexican
beer segment is one of the fastest-growing categories of the beer
market.  Craft beer is another fast-growing category, and the
Ballast Point acquisition should further enhance Constellation's
growth prospects and allow for continued margin improvement.  The
company's wine portfolio, which boasts top market positions in the
U.S., Canada, and New Zealand within the premium to super-premium
price points, also benefits from strong brand recognition.

RATINGS LIST

Constellation Brands Inc.
Corporate credit rating              BB+/Stable/--

Ratings Assigned
Constellation Brands Inc.
Senior unsecured
  $400 mil. notes due 2025*           BB+
  Recovery rating                     3H

*Actual amounts and maturity dates to be finalized at the close of
the transaction.



COYNE INT'L: Hires GZA Geoenviromental as Environmental Consultant
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of New York
authorized Coyne International Enterprise Corp. to employ GZA
Geoenvironmental Inc. as environmental consultant.

Prior to the Petition Date, the Debtor commissioned the firm to
conduct testing at various of its properties with known
environemental issues.  Postpetition, the firm will continue to
consult with the Debtor on these and other environmental issues,
including the formulation of plans for remediation and the
preparation of applications with respect to environmental programs

The firm's professional's hourly rates:

   Staff Member Title                           Hourly Rates
   ------------------                           ------------
   Senior Principals                            $275
   Principal                                    $250
   Associate Principal                          $220
   Senior Consultant                            $220
   Senior Project Manager/Technical Specialist  $185
   Project Manager/Technical Specialist         $140
   Assistant Project Manager                    $125
   Engineer I/Scientist/Geologist I             $105
   Engineer II/Scientist/Geologist II           $95
   Field Technician I                           $95
   Field Technician II                          $85
   Senior CAD/Technical Designer                $140
   CAD/Technical Designer                       $120
   Technical/Administrative Support             $85

The Debtor assured the Court that the firm is a "disinterested
person" as defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

   GZA Geoenvironmental Inc.
   249 Vanderbilt Avenue
   Norwood, MA 02062
   Tel: 781-278-3700
   Fax: 781-278-5701

                    About Coyne International

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

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

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


CRYSTAL WATERFALLS: Case Summary & 10 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Crystal Waterfalls LLC
           dba Park Inn by Radisson
        1211 E. Garvey Sreet
        Covina, CA 91724

Case No.: 15-27769

Chapter 11 Petition Date: November 19, 2015

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

Judge: Hon. Ernest M. Robles

Debtor's Counsel: Ian Landsberg, Esq.
                  ECOFF LANDSBERG, LLP
                  280 South Beverly Drive, Suite 504
                  Beverly Hills, CA 90212
                  Tel: (310) 887-1850
                  Fax: (310) 887-1855
                  Email: ilandsberg@landsberg-law.com

Estimated Assets: $50 million to $100 million

Estimated Debts: $50 million to $100 million

The petition was signed by Lucy Gao, managing member.

List of Debtor's 10 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Ace Mangement Services              Business Debt      $1,445,240
Corporation
1211 E. Garvey Ave.
West Covina, CA 91791

City of Covina                          Tax              $168,433
125 E. Colelge Street
Covina, CA 91723-2199

East Heights LLC                    Business Debt      $9,177,414
2058 N. Mills Ave., Suite # 431
Claremont, CA 91711

First American Mergers and          Business Debt      $8,000,000
Acquisitions LLC
3218 E. Holt Ave
West Covina, CA 91791

Los Angeles County Tax              APN 8447-031-053     $609,359
Collector
P.O. Box 54088
Los Angeles, CA 90054

Los Angeles County Tax                      Tax          $256,460
Collector
P.O. Box 54018
Los Angeles, CA 90054

Los Angeles County Tax                APN 8447-031-045    $17,458
Collector
P.O. Box 54088
Los Angeles, CA 90054

Lucy Gao                               Monies Owed     $4,841,343
3218 E Holt Avenue
West Covina, CA 91791

Sequoia Hospitality F&B               Business Debt      $850,000
Corporation
3218 E. Holt Ave. #102
West Covina, CA 91791

Strong Water Capital                  Business Debt    $5,000,000
Management LLC
415 Huntington Drive
San Marino, CA 91108


CTI BIOPHARMA: FMR LLC Reports 13.8% Stake as of Oct. 30
--------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, FMR LLC, Edward C. Johnson 3d and Abigail P. Johnson
disclosed that as of Oct. 30, 2015, they beneficially owned
28,801,722 shares of common stock of CTI Biopharma representing
13.896% of the shares outstanding.

Edward C. Johnson 3d is a director and the chairman of FMR
LLC and Abigail P. Johnson is a director, the vice chairman, the
chief executive officer and the president of FMR LLC.

A copy of the regulatory filing is available for free at:

                       http://is.gd/4w7jJN

                       About CTI BioPharma

CTI BioPharma Corp. (NASDAQ and MTA: CTIC) --
http://www.ctibiopharma.com/-- formerly known as Cell
Therapeutics, Inc., is a biopharmaceutical company focused on
the acquisition, development and commercialization of novel
targeted therapies covering a spectrum of blood-related cancers
that offer a unique benefit to patients and healthcare providers.
The Company has a commercial presence in Europe and a late-stage
development pipeline, including pacritinib, CTI's lead product
candidate that is currently being studied in a Phase 3 program for
the treatment of patients with myelofibrosis.  CTI BioPharma is
headquartered in Seattle, Washington, with offices in London and
Milan under the name CTI Life Sciences Limited.

CTI Biopharma reported a net loss attributable to common
shareholders of $96 million in 2014, compared with a net loss
attributable to common shareholders of $49.6 million in 2013.

As of Sept. 30, 2015, the Company had $63.13 million in total
assets, $90.64 million in total liabilities and a $27.51 million
total shareholders' deficit.


CUYAHOGA, OH: Moody's Hikes Rating on $71-Mil. Bonds to Ba1
-----------------------------------------------------------
Moody's Investors Service upgrades UHHS/CSAHS-Cuyahoga, Inc. &
CSAHS/UHHS-Canton Inc.'s (OH) (dba as Mercy Medical Center) to Ba1
affecting approximately $71 million of outstanding rated bonds
issued by the County of Cuyahoga, OH. At this time, Moody's is
revising the outlook to stable from positive.

SUMMARY RATING RATIONALE

The upgrade to Ba1 is based on a second year of good operating
cashflow margins and improvement in leverage metrics, as well as
growth in liquidity, as expected when the positive outlook was
assigned. The rating further incorporates the financial and
management benefits derived from parent Sisters of Charity Health
System. Despite improvement, the rating is constrained by the
absence of a longer track record of adequate margins following a
history of modest operations, and weak liquidity, even though
improved. The rating also incorporates fundamental challenges of
operating in a competitive market with relatively high Medicaid.

OUTLOOK

The stable outlook reflects expected continuation of improved
financial performance given revenue enhancements which include
commercial rate increases and volume gains in profitable service
lines. In addition, the stable outlook reflects our expectation
that unrestricted cash will continue to grow as the hospital has
moderate capital spending in the near term.

WHAT COULD MAKE THE RATING GO UP

-- Maintenance of current levels of operating cash flow margins
    over the next several years

-- Continued growth in liquidity, resulting in better days cash
    on hand and cash to debt

-- Strengthening of relationship with Sisters of Charity Health
    System

-- Further volume growth or demand for services to improve
    competitive position

WHAT COULD MAKE THE RATING GO DOWN

-- Material downturn in financial performance

-- Reduction in liquidity

-- Significant increase in debt and dilution of debt metrics

-- Adverse change in relationship with Sisters of Charity Health
    System

OBLIGOR PROFILE

Mercy Medical Center, a ministry of the Sisters of Charity Health
System (SCHS), is a 476-bed hospital located in Canton, Ohio
provides a vast array of services including cardiology and
oncology. Mercy also operates eight outpatient health centers in
the surrounding area.

LEGAL SECURITY

Bonds are secured by a gross revenue and mortgage pledge of the
obligated group, which includes CSAHS/UHHS - Canton.
UHHS/CSAHS-Cuyahoga, Inc. withdrew from the obligated group
effective January 1, 2010. Sisters of Charity Health System (SCHS)
is not legally obligated on the bonds.

The Series 2000 Bonds contain a debt service ratio covenant of 1.10
times. There is ample room within this covenant.


DM RECORDS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: DM Records, Inc.
           dba DM Music Group
           dba Ashley Watson Publishing, BMI
           dba Sky Records
           dba Koke, Moke and Noke Publishing, BMI
           dba Critique Records
           dba Bass Tracks, ASCAP
           dba Wrap Records
           dba Bellmark Records
           dba Ichiban Records
        265 South Federal Highway #352
        Deerfield Beach, FL 33441

Case No.: 15-30368

Chapter 11 Petition Date: November 19, 2015

Court: United States Bankruptcy Court
       Southern District of Florida (Fort Lauderdale)

Judge: Hon. Raymond B Ray

Debtor's Counsel: David L. Merrill, Esq.
                  MERRILL PA
                  Trump Plaza Office Center
                  525 S Flagler Drive, 5th Floor
                  West Palm Beach, FL 33401
                  Tel: 561.877-1111
                  Email: dlmerrill@merrillpa.com

Total Assets: $4.24 million

Total Liabilities: $2.32 million

The petition was signed by Mark Watson, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flsb15-30368.pdf


ECO BUILDING: Posts $99,900 Net Income for Third Quarter
--------------------------------------------------------
Eco Building Products, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing net income of
$99,871 on $2.09 million of total revenue for the 12 months ended
June 30, 2015, compared to a net loss of $28.94 million on $1.18
million of total revenue for the 12 months ended June 30, 2014.

As of June 30, 2015, the Company had $879,747 in total assets,
$19.16 million in total liabilities, $1.14 million in liabilities
related to discontinued operations and a $19.43 million total
stockholders' deficit.

Sadler, Gibb & Associates, LLC, in Salt Lake City, UT, issued a
"going concern" qualification on the consolidated financial
statements for the year ended June 30, 2015, citing that the
Company has an accumulated deficit of $74,876,514, negative working
capital, and negative gross margin as of June 30, 2015, which
raises substantial doubt about its ability to continue as a going
concern.

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

                       http://is.gd/JkluYp

                        About Eco Building

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


EUROMODAS INC: Case Summary & 14 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Euromodas Inc.
        PO Box 194208
        San Juan, PR 00919-4208

Case No.: 15-09174

Chapter 11 Petition Date: November 19, 2015

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Judge: Hon. Brian K. Tester

Debtor's Counsel: Enrique M Almeida Bernal, Esq.
                  ALMEIDA & DAVILA PSC
                  PO Box 191757
                  San Juan, PR 00919-1757
                  Tel: (787) 722-2500
                  Fax: (787)777-1376
                  Email: info@almeidadavila.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Juan Carlos Castiel Diaz, president.

A list of the Debtor's 14 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb15-09174.pdf


EVANGELICAL HOMES: Fitch Affirms 'BB+' Rating on 2013 Bonds
-----------------------------------------------------------
Fitch Ratings has affirmed the 'BB+' rating on these bonds issued
on behalf of Evangelical Homes of Michigan (EHM).

   -- $23,910,000 Michigan Strategic Fund series 2013;
   -- $10,470,000 Economic Development Corporation of the City of
      Saline (MI) series 2013.

The Rating Outlook is Stable.

SECURITY

The bonds are secured by a pledge of unrestricted receivables of
the Obligated Group, a mortgage on the revenue-generating property
and structures on the three campuses, and two separate debt service
reserve funds.

KEY RATING DRIVERS

CONSISTENT OPERATING PROFITABILITY: Operating profitability has
been consistent since fiscal 2012 with operating ratio averaging
97.6% and net operating margin averaging 5.6%, respectively, and
equal to 97.8% and 5.5% in fiscal 2015.

LIGHT DEBT BURDEN: EHM's debt burden, with maximum annual debt
service (MADS) equal to 4.6% of fiscal 2015 revenue, remains light
relative to Fitch's 'BBB' category median of 12.4%.  The light debt
burden allowed for solid MADS coverage of 2.0x in fiscal 2015.

ADEQUATE LIQUIDITY: Liquidity metrics remain mixed relative to
'BB+' peers but are adequate for the rating category with a solid
5.6x cushion ratio and a light 38% cash to debt.

CONSISTENTLY STRONG OCCUPANCY: Strong and consistent occupancy is a
key credit strength.  Independent living unit (ILU), assisted
living unit (ALU), and skilled nursing facilities (SNF) occupancy
has averaged 92%, 93%, and 95%, respectively, since fiscal 2010.

HIGH EXPOSURE TO SKILLED NURSING: With over 70% of revenue
generated from SNF services, Fitch believes EHM is more vulnerable
to occupancy fluctuations and reimbursement changes than
communities with higher proportions of ALUs and ILUs.

RATING SENSITIVITIES

SUSTAINED OPERATING PERFORMANCE: Fitch expects that Evangelical
Homes of Michigan occupancy levels and operating performance will
be sustained, providing consistent cash flow and coverage metrics
while supporting capital projects without materially impacting
unrestricted liquidity.

CREDIT PROFILE

Headquartered in Farmington, MI, EHM provides home care and home
support, senior housing, skilled healthcare, rehabilitation,
hospice care and memory support services in southeastern Michigan
with primary operations located in Saline, Sterling Heights, Ann
Arbor and Farmington, MI.  Total operating revenues equaled
$53 million in fiscal 2015.

CONSISTENT OPERATING PROFITABILITY

Operating profitability has been generally consistent since fiscal
2012 with operating ratio and net operating margin averaging 97.6%
and 5.6%, respectively, and equal to 97.8% and 5.5% in fiscal 2015.
Profitability in fiscal 2015 was adversely impacted by increased
expenses related to an influenza outbreak, an electronic medical
record conversion and recruitment of a new CFO as well as below
budget SNF occupancy.  Fitch expects operating profitability to
remain at levels consistent with historical performance.

LIGHT DEBT BURDEN

EHM's light debt burden, with MADS equal to 4.6% of fiscal 2015
operating revenues, allows for solid MADS coverage.  Revenue-only
MADS coverage of 2.0x and 1.5x in fiscal 2015 and 2014,
respectively, compare favorably to Fitch's 'BBB' category median of
1.0x and is strong relative to 'BB+' category peers.  EHM may incur
additional debt to fund certain capital projects.  Fitch will
assess the credit impact, if any, to EHM's credit profile as plans
become more certain.

ADEQUATE LIQUIDITY METRICS

With $14.2 million of unrestricted cash and investments at
July 31, 2015, liquidity metrics are mixed but remain adequate for
the rating category.  Cushion ratio remains solid for the rating
category at 5.6x.  However, both 38% cash to debt and 100 days cash
on hand are weak for the rating category.  Management is currently
updating EHM's capital plans; however, capital projects are not
expected to materially impact unrestricted liquidity.

CONSISTENTLY STRONG OCCUPANCY

Occupancy levels have been consistently strong.  ILU, ALU
(including memory care) and SNF occupancy averaged 92%, 93% and 95%
since fiscal 2010, respectively and equaled 96%, 98% and 94% at
Oct. 31, 2015.  The consistently strong occupancy reflects EHM's
solid reputation and the benefits derived from being the only
rental community in its service area which is beneficial given the
service area's demographics.

HIGH EXPOSURE TO SKILLED NURSING

Skilled nursing services accounts for approximately 75% of
consolidated revenues.  Fitch believes EHM's relatively high
exposure to skilled nursing makes it inherently more vulnerable to
Medicare and Medicaid reimbursement changes, and to relatively
higher rates of attrition relative to communities with higher
proportions of assisted and independent living units.

DEBT PROFILE
EHM had approximately $37.2 million of total debt outstanding at
July 31, 2015, including the series 2013 bonds and a term loan. The
debt is 100% fixed rate and EHM is not counterparty to any swaps.
MADS is level and equal to approximately $2.5 million.
Additionally, EHM maintains a $2.8 million line of credit of which
$800,000 was drawn at Sept. 30, 2015.



FINJAN HOLDINGS: Provides Shareholders with Update for Q3 2015
--------------------------------------------------------------
Finjan Holdings, Inc., provided shareholders with an update on its
key accomplishments during its third quarter ended Sept. 30, 2015,
and other subsequent events.

Strategic Highlights:

  * Ruling in favor of Finjan for nearly $40 million in damages as
    a result of Finjan patents being found valid and infringed by
    a jury at the conclusion of the Blue Coat trial;

  * Continued to increase CybeRiskTM Security Solutions Ltd.
    presence with recent expansion into the United Kingdom;

  * Reentered the world of development with release of the Finjan
    Mobile Secure Browser available for Apple and Android
    platform devices;

  * United States Patent and Trademark office (USPTO) granted
    Finjan Inc. its 23rd U.S. Patent, the '786 patent for
    Malicious Mobile Code Protection;

  * Patent Trial and Appeal Board (PTAB) denied dual petitions for
    inter partes review (IPR) by Sophos for Finjan's patents '494
    and '926;

  * Reported $7.2 million in cash with an additional $2.3 million
    to be paid from existing license agreements over the next five

    months; and

  * Announced appointment of new board member, Gary Moore,
    previous President and COO of Cisco.

"The third quarter represented one of growth after the announcement
of our two new emerging businesses units, mobile security and
cybersecurity advisory services.  We recently launched our first
mobile security product in the Finjan Mobile Secure Browser,
established our international CybeRisk Security Solutions advisory
business in Israel, and continue to have our innovation recognized
by the US Patent Office with the issuance of our 23rd US patent.
We are ahead of plan for our advisory business with the recent
expansion of CybeRisk into London and the addition of Gary Moore to
the Finjan Board to provide guidance on our growth and expansion
globally," said Phil Hartstein, president and CEO of Finjan.  "As
we look ahead we remain enthusiastic about our diversification as a
public company focused in the cybersecurity sector.  We carefully
manage our cash position while balancing our 20 years of expertise
in technology investments to create long-term value for our
licensees, shareholders and investors."

Third Quarter Licensing and Litigation Review:

On Aug. 4, 2015, the jury in Finjan, Inc. v. Blue Coat Systems Inc.
(5:13-cv-03999-BLF) returned a unanimous verdict that each of the
Finjan asserted patents are valid and enforceable.  Further, the
jury returned a unanimous verdict that Finjan's U.S. Patent Nos.
6,154,844 (the "'844 Patent"), 6,804,780 (the "'780 Patent"),
6,965,968 (the "'968 Patent"), and the 7,418,731 (the "'731
Patent") were literally infringed by Blue Coat, and that U.S.
Patent No. 7,647,633 (the "'633 Patent") was infringed by Blue Coat
under the Doctrine of Equivalents.  Upon the findings of
infringement, the jury also decided that Finjan was entitled to
$39.5 million in damages as reasonable royalties for Blue Coat's
infringement.

On July 15, 2015, Finjan also filed a second patent infringement
lawsuit against Blue Coat Systems, Inc. (Blue Coat), alleging
infringement of seven Finjan patents relating to new infringing
Blue Coat products and services.  The Complaint (5:15-cv-03295,
Docket No. 1), filed July 15, 2015, in the U.S. District Court for
the Northern District of California, alleges that Blue Coat's new
products and services infringe seven Finjan patents.  In
particular, Finjan is asserting infringement of U.S. Patent Nos.
6,154,844; 6,965,968; 7,418,731; 8,079,086; 8,225,408; 8,566,580;
8,677,494; four of which are being asserted against Blue Coat for
the first time.

In Finjan, Inc. v. Palo Alto Networks, Inc. (3:14-cv-04908-EMC,
Docket: 56), the matter has been reassigned from Honorable Judge
Edward Chen in the San Francisco division to the Honorable Judge
Phyllis Hamilton, the Chief Judge in the Oakland division
(4:14-cv-04908-PJH, Docket: 57).  Although a trial date had not yet
been set by Judge Chen, all pending dates set by Judge Chen will be
reset by Judge Hamilton in accordance with her calendar.

In Finjan, Inc. v. Symantec Corp. (3:14-cv-02998, Docket: 108), the
Honorable Judge Haywood S. Gilliam, Jr. presiding in the San
Francisco division has stayed the case pending a decision by the US
Patent and Trademark Office (USPTO) on whether to institute Inter
Partes Review (IPR) of Finjan's patent claims in five of eight
patents asserted against Symantec.  An IPR is a trial proceeding
conducted at the Patent Trial and Appeal Board (PTAB) of the USPTO
to review the patentability of claims in a patent. Depending on the
PTAB's decision on whether or not to institute those IPRs, Judge
Gilliam will determine whether to extend the stay.

                            About Finjan

Finjan, formerly known as Converted Organics, is a leading online
security and technology company which owns a portfolio of patents,
related to software that proactively detects malicious code and
thereby protects end-users from identity and data theft, spyware,
malware, phishing, trojans and other online threats.  Founded in
1997, Finjan is one of the first companies to develop and patent
technology and software that is capable of detecting previously
unknown and emerging threats on a real-time, behavior-based basis,
in contrast to signature-based methods of intercepting only known
threats to computers, which were previously standard in the online
security industry.

Finjan reported a net loss of $10.47 million in 2014 following a
net loss of $6.07 million in 2013.

As of Sept. 30, 2015, the Company had $9.93 million in total
assets, $2.66 million in total liabilities and $7.27 million in
total stockholders' equity.


FIRST DATA: FMR LLC Owns 17% of Class A Shares as of Nov. 23
------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, FMR LLC, Edward C. Johnson 3d and Abigail P. Johnson
disclosed that as of Oct. 30, 2015, they beneficially owned
33,986,343 shares of Class A common stock of First Data Corp
representing 17.179 percent of the shares outstanding.  

Edward C. Johnson 3d is a director and the Chairman of FMR
LLC and Abigail P. Johnson is a director, the vice chairman, the
chief executive officer and the president of FMR LLC.

A copy of the regulatory filing is available at:

                      http://is.gd/3KZb1n

                        About First Data

Based in Atlanta, Georgia, First Data Corporation provides
commerce and payment solutions for financial institutions,
merchants, and other organizations worldwide.

First Data reported a net loss attributable to the Corporation of
$458 million on $11.2 billion of total revenues for the year ended
Dec. 31, 2014, compared with a net loss attributable to the
Corporation of $869 million on $10.8 billion of total revenues
during the prior year.

As of Sept. 30, 2015, the Company had $33.44 billion in total
assets, $31.37 billion in total liabilities, $78 million in
redeemable noncontrolling interest and $1.98 billion in total
equity.

                           *     *     *

The Company carries a 'B3' corporate family rating, with a
stable outlook, from Moody's Investors Service, a 'B' corporate
credit rating, with stable outlook, from Standard & Poor's, and
a 'B' long-term issuer default rating from Fitch Ratings.


FIRST DATA: Incurs $126 Million Net Loss in Third Quarter
---------------------------------------------------------
First Data Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to the Company of $126 million on $2.92 billion of
total revenues for the three months ended Sept. 30, 2015, compared
to a net loss attributable to the Company of $235 million on $2.79
billion of total revenues for the same period in 2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss attributable to the Company of $264 million on $8.48
billion of total revenues compared to a net loss attributable to
the Company of $470 million on $8.26 billion of total revenues for
the same period last year.

As of Sept. 30, 2015, the Company had $33.44 billion in total
assets, $31.37 billion in total liabilities, $78 million in
redeemable non-controlling interest and $1.98 billion in total
equity.

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

                       http://is.gd/3wqz6r

                        About First Data

Based in Atlanta, Georgia, First Data Corporation provides
commerce and payment solutions for financial institutions,
merchants, and other organizations worldwide.

First Data reported a net loss attributable to the Corporation of
$458 million on $11.2 billion of total revenues for the year ended
Dec. 31, 2014, compared with a net loss attributable to the
Corporation of $869 million on $10.8 billion of total revenues
during the prior year.

                           *     *     *

The Company carries a 'B3' corporate family rating, with a
stable outlook, from Moody's Investors Service, a 'B' corporate
credit rating, with stable outlook, from Standard & Poor's, and
a 'B' long-term issuer default rating from Fitch Ratings.


FISKER AUTOMOTIVE: Says BMW Owes $33M for Undelivered Engines
-------------------------------------------------------------
Dani Meyer at Bankruptcy Law360 reported that the liquidating
trustee for bankrupt electric-car maker Fisker Automotive Holdings
Inc. launched an adversary suit on Nov. 19, 2015, in Delaware
bankruptcy court to recover more than $32.6 million from the BMW
Group for engines the trustee said it never provided.

Emerald Capital Advisors Corp., acting as the liquidating trustee
for Fisker, said the company made approximately $32.6 million in
transfers to BMW as part of a deal in which the German automaker
agreed to manufacture engines and provide production support for
the construction of Fisker's vehicles.

                     About Fisker Automotive

Fisker Automotive Holdings, Inc., developer of the Karma plug-in
hybrid electric sedan, filed a petition for Chapter 11 protection
(Bankr. D. Del. Case No. 13-13087) on Nov. 22, 2013.

Fisker estimated assets of more than $100 million and listed debt
of $500 million in its bankruptcy petition.  The assets include an
assembly plant purchased for $21 million from General Motors Corp.
The plant never operated.  The cars were assembled in Finland.

Fisker received a $529 million loan from the Department of
Energy's Advanced Technology Vehicles Manufacturing Loan Program
and drew down about $192 million before the department froze the
loan after Fisker failed to hit several development targets.  The
company defaulted on its loan in April 2013.

Bankruptcy Judge Kevin Gross presides over the case.  The Debtors
have tapped James H.M. Sprayregen, P.C., Esq., Anup Sathy, P.C.,
Esq., and Ryan Preston Dahl, Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, as co-counsel; Laura Davis Jones, Esq., James
E. O'Neill, Esq., and Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, as co-counsel;
Beilinson Advisory Group as restructuring advisors; and Rust
Consulting/Omni Bankruptcy, as notice and claims agent and
administrative advisor.

On Nov. 5, 2013, the Official Committee of Unsecured Creditors
was appointed. The members are: (a) David M. Cohen; (b) Sven
Etzelsberger; (c) Kuster Automotive Door Systems GmbH; (d) Magna
E-Car USA, LLC; (e) Supercars & More SRL; and (f) TK Holdings Inc.
The Committee is represented by William R. Baldiga, Esq., and
Sunni P. Beville, Esq., at Brown Rudnick LLP; and Mark Minuti,
Esq., at Saul Ewing LLP.  Emerald Capital Advisors Corp. is the
financial advisors for the Committee.

Fisker sought bankruptcy protection to pursue a private sale of
its business to Hybrid Tech Holdings, LLC.  The Committee,
however, wants a sale public sale, and has identified Wanxiang
America Corporation as stalking horse bidder.

Hybrid was initially under contract to buy Fisker in exchange for
$75 million of the $168.5 million government loan it acquired
immediately before the Debtor's Chapter 11 filing.  Hybrid later
raised its offer by adding an additional $1 million cash and
agreeing to share proceeds from the sale of a facility in Delaware
it doesn't intend to operate.  Hybrid also offered to pay real
estate taxes on the Delaware plant.  Hybrid also will waive $90
million in deficiency claims that otherwise would dilute unsecured
creditors' recovery.

Wanxiang, as stalking horse bidder, initially offered $25.8
million in cash.  However, Wanxiang has said it has raised its
offer by $10 million and is willing to go higher.

After the hearings on Jan. 10 and 13, the Court directed a public
auction, and capped Hybrid's credit bid to $25 million.

In response, Hybrid raised its offer to $55 million.

Hybrid is represented by Tobias Keller, Esq., and Peter
Benvenutti, Esq., at Keller & Benvenutti LLP, in San Francisco,
California.

Wanxiang, which bought A123 Systems, Inc., a manufacturer of
lithium-ion batteries used in electric vehicles such as the Fisker
Karma, in a bankruptcy auction early in 2013 for $256.6 million,
is represented in Fisker's case by Sidley Austin LLP's Bojan
Guzina, Esq., and Andrew F. O'Neill, Esq.; and Young Conaway
Stargatt & Taylor, LLP's Edmon L. Morton, Esq., Robert S. Brady,
Esq., and Kenneth J. Enos, Esq.

On Feb. 19, 2014, the Bankruptcy Court approved the sale of
Fisker's assets to Wanxiang America Corporation.  The sale closed
on March 24.  The sale to Wanxiang is valued at approximately $150
million, Fisker said in a news statement.

On March 27, 2014, the Court authorized Fisker Automotive Holdings
to change its name to FAH Liquidating Corp. and its affiliate,
Fisker Automotive Inc., to FA Liquidating Corp., following the
sale.

FA Liquidating Corp. (F/K/A Fisker Automotive, Inc.) and FAH
Liquidating Corp. (F/K/A Fisker Automotive Holdings, Inc.)
notified the U.S. Bankruptcy Court for the District of Delaware
that their Second Amended Chapter 11 Plan of Liquidation became
effective as of Aug. 13, 2014.


FOUNDATION HEALTHCARE: To Acquire UGH for $33 Million
-----------------------------------------------------
Foundation HealthCare, Inc., announced that it has signed an asset
purchase agreement to acquire substantially all of the assets of
University General Hospital.  UGH is a sixty-nine bed acute care
hospital located near the Texas Medical Center in Houston, Texas.
The Hospital, along with its parent company, University General
Health System, Inc., filed for protection under Chapter 11 of the
U.S. Bankruptcy Code in February 2015.  Foundation is purchasing
UGH for $33 million in the Bankruptcy Court approved sale.
Foundation will hold a conference call on Thursday, November 12 at
4:30pm ET to discuss the agreement.

In documents filed with the Bankruptcy Court, UGH reported net
revenues in excess of $70 million for 2014.  "UGH will be an
excellent addition to the Foundation family of physician-owned
hospitals," stated Foundation CEO, Stanton Nelson.  "The Foundation
team has a great track record in this market having developed,
built and managed seven ambulatory surgery centers and one surgical
hospital in the Houston area.  We expect the transaction to be
immediately accretive to our shareholders and look forward to
working with our many physician friends in the Houston market,"
added Nelson.

Hassan Chahadeh, M.D., chairman and CEO of UGHS added, "We are
excited about the prospects of UGH becoming part of Foundation's
hospital network.  Foundation shares our vision of physician-owned
hospitals and provides a strong platform for UGH to continue
providing high quality and cost-effective healthcare services in a
personalized manner favored by physicians, patients and
employees."

"Foundation has reported $124.8 in net revenues for the twelve
months ended September 30, 2015.  The scheduled closing date for
the UGH transaction is December 31, 2015," said Nelson.

A copy of the Asset Purchase Agreement is available at:

                        http://is.gd/AAIrCw

                    About Foundation Healthcare

Oklahoma-based Foundation Healthcare is a healthcare services
company primarily focused on owning controlling interests in
surgical hospitals and the inclusion of ancillary service lines.
The Company currently owns controlling and noncontrolling
interests in surgical hospitals located in Texas.  The Company
also owns noncontrolling interests in ambulatory surgery centers
("ASCs") located in Texas, Oklahoma, Pennsylvania, New Jersey,
Maryland and Ohio.

Additionally, the Company provides sleep testing management
services to various rural hospitals in Iowa, Minnesota, Missouri,
Nebraska and South Dakota under management contracts with the
hospitals.  The Company provides management services to a majority
of its Affiliates under the terms of various management
agreements.  Prior to Dec. 2, 2013, the Company's name was
Graymark Healthcare, Inc.

Foundation Healthcare reported a net loss attributable to the
Company common stock of $2.09 million on $101.9 million of
revenues for the year ended Dec. 31, 2014, compared to a net loss
attributable to the Company common stock of $20.4 million on $87.2
million of revenues in 2013.

Hein & Associates LLP, in Denver, Colorado, issued a "going
concern" opinion in its report on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company had insufficient working capital as of Dec. 31, 2014, to
fund anticipated working capital needs over the next twelve
months.


FRAMINGHAM 300: Case Summary & 6 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Framingham 300 Howard, LLC
        40 Mechanic Street
        Marlborough, MA 01752

Case No.: 15-42232

Chapter 11 Petition Date: November 19, 2015

Court: United States Bankruptcy Court
       District of Massachusetts (Worcester)

Judge: Hon. Christopher J. Panos

Debtor's Counsel: John M. McAuliffe, Esq.
                  MCAULIFFE & ASSOCIATES, P.C.
                  430 Lexington Street
                  Newton, MA 02466
                  Tel: (617) 558-6889
                  Email: john@jm-law.net

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by David P. Pepietri, member of Framingham
Triangle, LLC.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/mab15-42232.pdf


FUSION TELECOMMUNICATIONS: Signs New Employment Agreement with CEO
------------------------------------------------------------------
Fusion Telecommunications International, Inc., executed a new
employment agreement with Matthew D. Rosen, its chief executive
officer, on Nov. 5, 2015.  This new agreement has a term of three
years, but will automatically renew for an additional two year
period unless and until one party provides the other party with
written notice of its/his intent to terminate not less than 90 days
prior to the end of the initial term.  

His agreement provides (a) for an annual base salary of not less
than $425,000 (subject to annual review for cost of living
increases, performance and market conditions), (b) for an annual
bonus equal to 50% of base salary, and (c) that in the event his
employment is terminated without cause, including a termination
within six months following a change in control of the Company, he
will receive unpaid base salary accrued through the effective date
of the termination plus any pro-rata bonus and a lump sum payment
equal to 200% of his base salary then in effect and 200% of his
highest annual bonus for the three years preceding his termination.
His employment agreement also provides for a one year non-compete
provision.  

In the event of a sale of the Company that results in proceeds to
the shareholders of up to $149,999,999, Mr. Rosen is entitled to
receive a special bonus equal to 2.5% of the consideration (cash or
stock) paid/distributed to the shareholders; 3.5% if such
consideration is between $150 million and $249,999,999; 4.5% if
such consideration is between $250 million and $349,999,999; and 5%
if such consideration is over $350 million.  Mr. Rosen's employment
agreement also provides that the Board will, within 90 days
following execution of the new agreement, develop a plan under
which Mr. Rosen will obtain a five percent stake in the Company
within three years.  Mr. Rosen is the son of Marvin Rosen, the
Chairman of the Board of the Company, and a major shareholder.

                  About Fusion Telecommunications

New York City-based Fusion Telecommunications International, Inc.,
(OTC BB: FSNN) is a provider of Internet Protocol ("IP") based
digital voice and data communications services to corporations and
carriers worldwide.

Fusion incurred a net loss applicable to common shareholders of
$4.31 million in 2014, a net loss applicable to common shareholders
of $5.48 million in 2013 and a net loss applicable to common
stockholders of $5.61 million in 2012.

As of June 30, 2015, the Company had $68.9 million in total
assets, $60.2 million in total liabilities and $8.7 million in
total stockholders' equity.


GUIDED THERAPEUTICS: FDA Grants Request for New Meeting Date
------------------------------------------------------------
Guided Therapeutics, Inc., announced the U.S. Food and Drug
Administration has set a new meeting date of Nov. 30, 2015, to
review the Company's plan to submit an approvable application for
the LuViva Advanced Cervical Scan.

The Company requested the new date to accommodate the schedules of
two physicians who plan to attend the meeting on the Company's
behalf.  Dr. Leo B. Twiggs, professor emeritus at the Miller School
of Medicine, University of Miami and Dr. Daron Ferris, professor at
the Medical College of Georgia are principal investigators of the
LuViva pivotal clinical trial.  Both are past presidents of the
American Society of Colposcopy and Cervical Pathology.

"We appreciate the agency working with us to accommodate the busy
schedules of Drs. Ferris and Twiggs," said Gene Cartwright, CEO of
Guided Therapeutics.  "Having them both at the meeting will make it
more productive and hopefully lead to the most positive outcome."

The LuViva is designed to detect cervical pre-cancer without taking
a tissue sample and providing a result immediately, unlike any
other women's health cancer detection technology on the market.
The LuViva is approved in Europe, Canada and Mexico and is
currently available to women in 20 countries.

The FDA, in a not approvable letter, recommended that the company
include additional patient data as part of its next PMA amendment.
A key objective of the scheduled meeting will be to determine the
parameters of the additional patient data FDA is seeking.

World-wide, the market for cervical cancer screening and
diagnostics, as currently practiced using cytology (Pap test) for
primary screening, is estimated at $6 billion and is projected to
grow to almost $9 billion by 2020.  Worldwide there are about 2.6
billion women aged 15 years and older who are at risk of developing
cervical cancer.

                      About Guided Therapeutics

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

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

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


H. KREVIT AND COMPANY: ACM Agrees to Provide $1.5M DIP Financing
----------------------------------------------------------------
H. Krevit and Company, Incorporated, et al., seek authority to
obtain credit from ACM Business Solutions, LLC, use cash collateral
and grant adequate protection to ACM.

The Debtors have requested that ACM establish a secured lending
facility in their favor pursuant to which the Debtors may obtain
loans from time to time in an aggregate principal amount up to
$1,500,000, secured by all of their personal property.

Pursuant to the terms and conditions of the Credit and Security
Agreement between Lender and Debtors, the Lender is willing to
establish the DIP Facility and make DIP Loans and other extensions
of credit to or for the benefit of Debtors during the period from

Nov. 19, 2015, through the sooner to occur of (x) the date of the
conclusion of a final hearing approving the motion or (y) Dec. 11,
2016.

The Lender's willingness to make DIP Loans and other extensions of
credit under the DIP Facility is conditioned upon, among other
things:

   (i) the Debtors obtaining entry of the proposed form of order;
       and

  (ii) the Debtors obtaining approval of the Debtors' grant, as
       security for the prompt payment of all DIP Obligations of
       security interests in and liens upon all of Debtors' pre-
       petition and post-petition assets.

"An immediate and ongoing need exists for Debtors to obtain
financing to continue the operation of their businesses as
debtor-in-possession under Chapter 11 of the Bankruptcy Code, to
minimize disruption of Debtors' businesses and to allow Debtor to
effectuate a sale of its assets," according to Barry S. Feigenbaum,
Esq., at Rogin Nassau LLC, counsel for the Debtors.

The Debtors relate that as of the Petition Date they are indebted
to AJM Industries LLC, as successor-in-interest to First Niagara
Bank, N.A., a total amount of $19,838,168.

                    About H. Krevit and Company

New Haven, Connecticut.-based H. Krevit and Company, Incorporated
and three of its affiliates filed Chapter 11 bankruptcy petitions
(Bankr. D. Conn. Case Nos. 15-31904 to 15-31907) on Nov. 19, 2015.
The petition was signed by Thomas S. Ross as president.  Rogin
Nassau LLC represents the Debtors as counsel.  Judge Julie A.
Manning has been assigned the case.

The Debtors are manufacturers and distributor of various inorganic
chemicals, including sodium hypochlorite (bleach), hydrochloric
acid, and sodium hydroxide (caustic soda).


H. KREVIT AND COMPANY: Case Summary & 20 Top Unsecured Creditors
----------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                   Case No.
      ------                                   --------
      H. Krevit and Company, Incorporated      15-31904
      P.O. Box 9433
      New Haven, CT 06534

      Greenchlor, Inc.                         15-31905

      GCTR Realty, LLC                         15-31906

      HKC Trucking, LLC                        15-31907

Type of Business: Manufacturer and distributor of various
                  inorganic chemicals, including sodium
                  hypochlorite (bleach), hydrochloric acid, and
                  sodium hydroxide (caustic soda).

Chapter 11 Petition Date: November 19, 2015

Court: United States Bankruptcy Court
       District of Connecticut (New Haven)

Judge: Hon. Julie A. Manning

Debtors' Counsel: Barry S. Feigenbaum, Esq.
                  ROGIN NASSAU LLC
                  185 Asylum Street, 22nd Floor
                  Hartford, CT 06103
                  Tel: (860)-278-7480
                  Fax: 860-278-2179
                  Email: bfeigenbaum@roginlaw.com

                     - and -

                  Matthew T. Wax-Krell, Esq.
                  ROGIN NASSAU LLC
                  185 Asylum Street
                  CityPlace I 22nd Fl
                  Hartford, CT 06103
                  Tel: 860-256-6300
                  Fax: 860-278-2179
                  Email: mwax-krell@roginlaw.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Thomas S. Ross, president.

List of H. Krevit and Company's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Olin Corporation                      Trade Debt       $1,337,955
Bank of America Bx 402766
6000 Feldwood Rd.
Atlanta, GA 30349

K.A. Steel Chemicals                  Trade Debt         $755,529
62860 Collection Center Drive
Chicago, IL 60693-0628

Macarthur Mortgage & Invest. Co.     Professional        $186,633
                                       Services

Chemical Interchange                  Trade Debt         $159,441

Marcum LLP                            Accounting         $103,515
                                       Services

Reagent Chemical                      Trade Debt          $99,072

Ryder - IL                          Truck Leasing         $85,744

United Mineral & Chemical             Trade Debt          $81,464

Chemours Company FC, LLC              Trade Debt          $76,552

United Illuminating Co.              Electricity          $69,365

Occidental Chemical Corporation       Trade Debt          $67,169

GDF SUEZ Energy                       Trade Debt          $66,378

Transportation Local 443              Trade Debt          $62,066

N.E. Teamsters &                       Pension            $52,639
Trucking Ind. Pension Fund

Hamilton Connections                   Temporary          $50,980
                                         Labor

Norfalco, Inc.                         Trade Debt         $48,684

Morton Salt                            Trade Debt         $42,595

Hillside Plastics, LLC                 Trade Debt         $40,703

Bohan & Bradstreet                     Employment         $35,381
                                         Agency

CSXT N/A 119820                       Rail Services       $33,810


H. KREVIT AND COMPANY: Files for Chapter 11 Bankruptcy Protection
-----------------------------------------------------------------
H. Krevit and Company, Incorporated sought Chapter 11 bankruptcy
protection in Connecticut listing assets of $18,273,880 and
liabilities of $21,796,850 as of Oct. 31, 2015.

The Debtor said its assets are subject to a lien in favor of AJM
Industries LLC, which is owed approximately $20,527,325.  

The Company also disclosed that it owes Enhanced Capital
Connecticut Fund I, LLC, Enhanced Capital Connecticut Fund II, LLC,
Enhanced Capital Connecticut Fund III, LLC, Karter Capital
Advisors, LLC, Stonehenge Capital Fund Connecticut, II LLC and
Stonehenge Capital Fund Connecticut, III LLC approximately
$5,970,128.

The State of Connecticut, Department of Economic and Community
Development is owed approximately $2,750,000 and the United States
Internal Revenue Service has a tax lien in the approximate amount
of $449,397, the Company states in the filing.

In addition, the Debtor leases equipment from various leasing
companies.

New Haven, Connecticut.-based H. Krevit and Company, Incorporated
and three of its affiliates filed Chapter 11 bankruptcy petitions
(Bankr. D. Conn. Case Nos. 15-31904 to 15-31907) on Nov. 19, 2015.
The petition was signed by Thomas S. Ross as president.  Rogin
Nassau LLC represents the Debtors as counsel.  Judge Julie A.
Manning has been assigned the case.

The Debtors are manufacturers and distributors of various inorganic
chemicals, including sodium hypochlorite (bleach), hydrochloric
acid, and sodium hydroxide (caustic soda).


H. KREVIT AND COMPANY: Proposes Rogin Nassau as Bankr. Counsel
--------------------------------------------------------------
H. Krevit and Company, Incorporated, et al., seek permission from
the Bankruptcy Court to employ the law firm of Rogin Nassau LLC as
their general bankruptcy counsel.  Rogin Nassau will:

   (a) give the Debtors legal advice concerning the powers and
       duties of a debtor-in-possession;

   (b) assist the Debtors in the preparation of schedules,
       reports, pleadings and other legal papers required or
       desirable on behalf of the Debtors as debtors-in-
       possession;

   (c) represent the Debtors in connection with adversary
       proceedings, contested matters and other proceedings which
       may be instituted in the Bankruptcy Court; and

   (d) perform all other legal services for the Debtors as debtor-

       in-possession.

To the best of Debtors' knowledge, Rogin Nassau has no connection
with them, their creditors, or any other party-in-interest or their
respective attorneys or accountants and Rogin Nassau is
a "disinterested person" as defined in the Bankruptcy Code.

The Debtors propose to pay Rogin Nassau on an hourly basis at its
normal hourly rates as follows: partner, $325-$495; counsel,
$300-$425; associate, $235-$280.

According to the Debtors, Rogin Nassau has been paid a retainer of
$136,708 for services to be rendered in connection with these
Chapter 11 cases.

                    About H. Krevit and Company

New Haven, Connecticut.-based H. Krevit and Company, Incorporated
and three of its affiliates filed Chapter 11 bankruptcy petitions
(Bankr. D. Conn. Case Nos. 15-31904 to 15-31907) on Nov. 19, 2015.
The petition was signed by Thomas S. Ross as president.  Rogin
Nassau LLC represents the Debtors as counsel.  Judge Julie A.
Manning has been assigned the case.

The Debtor H. Krevit and Company, Incorporated is a manufacturer
and distributor of various inorganic chemicals, including sodium
hypochlorite (bleach), hydrochloric acid, and sodium hydroxide
(caustic soda).  Krevit's products are used in water treatment and
industrial applications.  Krevit's customers include industrial
users, municipalities and retailers.  Krevit was established in
1919 and is the oldest manufacturer of sodium hypochlorite in the
United States.

Debtor GreenChlor, Inc. is the owner and operator of a chlor-
alkali manufacturing facility in New Haven, Connecticut which,
using salt water and electricity, manufactures sodium hypochlorite
(bleach), hydrochloric acid and sodium hydroxide (caustic soda).
Krevit owns 80% of the outstanding capital stock of GreenChlor and
is the sole customer for the Debtor's production.

Debtor GCTR Realty, LLC owns the real property located at 71-73
Welton Street, New Haven, Connecticut.  GreenChlor operates its
business at the property.  GCRT Realty is owned by Thomas S. Ross,
who is the President of all of the Debtors, and a shareholder of
both Krevit and GreenChlor.

Debtor HKC Trucking, LLC is the owner of a fleet of Volvo tractors
which are used by Krevit in the operation of Krevit's business.
HKC Trucking has no other assets and Krevit is the sole user of the
Vehicles.  Mr. Ross and Donald DeChello are the members of HKC
Trucking.  Mr. DeChello is a director, officer and employee of
Krevit.


HAVERHILL CHEMICALS: Cash Collateral Use Termination Date Extended
------------------------------------------------------------------
Haverhill Chemicals, LLC, sought and obtained from Judge Marvin
Isgur of the U.S. Bankruptcy Court for the Southern District of
Texas, Houston Division, an extension of the Debtor's authority to
use cash collateral and authority to enter into an amended budget
with Lenders, represented by Administrative Agent, Bank of America,
N.A.

The Debtor's authority to use cash collateral under the Final Order
terminates on Nov. 8, 2015.  Pursuant to the Stipulation and Agreed
Order entered into by the Debtor and the Agent, the authorization
granted to the Debtor to use Cash Collateral, unless extended
further by the written consent of the Agent, shall terminate
immediately upon the earliest to occur of the following, among
others:

   (i) the expiration of the Budget;

  (ii) the entry of an order dismissing the Chapter 11 Case;

(iii) the entry of an order converting the Chapter 11 Case to
Chapter 7;

  (iv) the termination of the Asset Purchase Agreement dated as of
Sept. 18, 2015, between the Debtor and ALTIVIA Petrochemicals, LLC,
prior to the closing of the Sale; and,

   (v) the sale transaction approved pursuant to the Order
Approving Sale of Substantially All of Debtor’s Assets and
Assumption and Assignment of Contracts and Leases has not closed by
Nov. 6, 2015, unless such date is extended by written consent of
the Agent.

The amended budget provides total expenses of approximately
$650,800.00 for the week ending November 8, 2015 and approximately
$381,700 for the week ending Nov. 15, 2015.

Haverhill Chemicals is represented by:

          Kyung S. Lee, Esq.
          Charles M. Rubio, Esq.
          William Hotze, Esq.
          DIAMOND MCCARTHY LLP
          909 Fannin, Suite 1500
          Houston, TX 77010
          Telephone: (713)333-5100
          Facsimile: (713)333-5195
          E-mail: klee@diamondmccarthy.com
                  crubio@diamondmccarthy.com
                  whotze@diamondmccarthy.com

                    About Haverhill Chemicals

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

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

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

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

Diamond McCarthy LLP serves as the Debtor's counsel.

On September 29, 2015, the U.S. trustee overseeing the Debtor's
Chapter 11 case appointed Marathon Petroleum Company LP, Pritchard
Electric Co., and CB&I Stone & Webster Construction Inc. to serve
on the official committee of unsecured creditors.  The committee
is
represented by Gardere Wynne Sewell LLP.



HII TECHNOLOGIES: AES Ad Hoc Committee Seeks to Amend Cash Order
----------------------------------------------------------------
The Ad Hoc Committee of Creditors of debtor Apache Energy Services
Inc. ("Ad Hoc Committee") asks the U.S. Bankruptcy Court for the
Southern District of Texas, Victoria Division, to alter or amend
the Court's final order which approved the motion filed by Debtors
HII Technologies, Inc., et. al., for authorization to obtain
postpetition financing, use cash collateral, and grant adequate
protection to the DIP Lenders.

In its final order, the Court found that the Debtors have an
immediate need to obtain the DIP Facility.  The Court mandated that
the DIP Facility must be in the form of a postpetition senior
secured term loan facility with a commitment in an aggregate
principal amount of up to $12 million.  The Court granted the
prepetition lenders adequate protection for any diminution in the
value of their respective interests in the prepetition collateral,
including cash collateral.

The Ad Hoc Committee had previously objected to Debtors' Motion,
stating, among others, that: (a) AES does not have independent
legal counsel representing the company with respect to the proposed
DIP Financing; (b) A motion to appoint a chapter 11 trustee as to
AES is pending before the court; and (c) The DIP Lenders refused to
release documents to the Ad Hoc Committee that are germane to the
DIP Financing.

The Ad Hoc Committee requests that the Court amend two discrete
provisions in its Final Order.  The Ad Hoc Committee requests that
the Court vacate the $12 million roll-up of prepetition debt as to
debtor Apache Energy Services ("AES") only.  In addition, the Ad
Hoc Committee requests that the Court clarify, by technical
amendment or otherwise, that the Order allows any official
committee of creditors of Debtor AES to initiate claims against the
pre-petition lenders, if after investigation, it believes such suit
is warranted.

The Ad Hoc Committee cites the following reasons to support its
request for the Court to vacate the $12 million roll-up as to
Debtor AES:

     (a) The $12 million roll-up of prepetition debt prevents AES
from reorganizing under chapter 11;

     (b) The $12 million loan did not benefit AES. AES received
little if any of the proceeds from the original $12 million term
loan. Instead, most of the $12 million was used to finance HII
Technologies' ill-fated acquisition of Hamilton Investment Group.

     (c) Roll-ups violate the Bankruptcy Code.

The Ad Hoc Committee tells the Court that Debtor AES is a separate
company from the other debtors and has litigation claims that are
unique to it.  It further tells the Court that the litigation
claims held by AES should be pursued by an official committee
comprised solely of AES creditors.  The Ad Hoc Committee notes that
the Official Unsecured Creditors Committee includes creditors who
hold claims against other debtors.  It relates that it intends to
request that the Court appoint a special committee that will
represent the separate interests of AES creditors.  The Ad Hoc
Committee contends that in the event an official committee is
appointed as to AES, that official committee will have the right to
pursue claims against the pre-petition lenders that AES waived when
consenting to the DIP Financing. The Ad Hoc Committee further
contends that vesting the right to pursue litigation with an
official committee of AES is consistent with and clarifies the
Court's Final Order.

The Ad Hoc Committee of Creditors of Apache Energy Services is
represented by:

          Leonard H. Simon, Esq.
          PENDERGRAFT & SIMON, LLP
          The Riviana Building
          2777 Allen Parkway, Suite 800
          Houston, TX 77019
          Telephone: (713)737-8207
          Facsimile: (832)202-2810
          E-mail: lsimon@pendergraftsimon.com

                  - and -

          Kirk A. Kennedy, Esq.
          THE KENNEDY FIRM
          4221 Avondale Ave.
          Dallas, TX 75219
          Telephone: (832)646-9228
          Facsimile: (713)583-7069
          E-mail: kkennedy@bticliams.com

                  - and -

         Joan Kehlhof, Esq.
         WIST HOLLAND & KEHLHOF, L.L.P.
         720 North Post Oak Road, Suite 610
         Houston, TX 77024
         Telephone: (713)686-5444
         Facsimile: (713)686-0703
         E-mail: jkehlhof@whkllp.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.

On Sept. 29, HII Technologies appointed Power Reserve Corp., Bold
Production Services LLC, and Black Gold Energy LLC to serve on its
official committee of unsecured creditors.  On Oct. 7, Black Gold
was replaced by Worldwide Power Products LLC.



HOVENSA LLC: Committee Seeks to Hire BRG as Financial Advisor
-------------------------------------------------------------
The Official Committee of Unsecured Creditors for HOVENSA LLC asks
the District Court of the Virgin Islands for authority to retain
Berkeley Research Group LLC as its financial advisor nunc pro tunc
Oct. 1, 2015.

The firm will:

   a) advise and assist the Committee in its analysis and
monitoring of the Debtor's historical, current and projected
financial affairs, including, schedules of assets and liabilities
and statement of financial affairs;

   b) advise and assist the Committee with respect to any
debtor-in-possession financing arrangements and use of cash;

   c) scrutinize cash disbursements on an on-going basis for the
period subsequent to the commencement of this case;

   d) develop a periodic monitoring report to enable the Committee
to evaluate effectively the Debtor's performance and wind-down
activities on an ongoing basis;

   e) advise and assist the Committee and counsel in reviewing and
evaluating any court motions, applications, or other forms of
relief filed or to be filed by the Debtor, or any other
parties-in-interest;

   f) evaluate and monitor, as applicable the Debtor's wind down
plans;

   g) develop strategies to maximize recoveries from the Debtor's
assets and advise and assist the Committee with such strategies;

   h) as appropriate and in concert with the Committee's other
professionals, analyze and monitor any prior sale processes and
transactions and assess the reasonableness of the process and the
consideration received;

   i) monitor Debtor's claims management process, analyze claims,
analyze guarantees, and summarize claims by entity;

   j) advise and assist the Committee in identifying and reviewing
any preference payments, fraudulent conveyances, and other
potential causes of action that the Debtor’s estate may hold
against insiders and third parties;

   k) analyze the Debtor's assets and analyze possible recovery to
creditor constituencies under various scenarios;

   l) review and provide analysis of any bankruptcy plan and
disclosure statement relating to the Debtor including, if
applicable, the development and analysis of any bankruptcy plans
proposed by the Committee;

   m) advise and assist the Committee in its assessment of the
Debtor's employee needs and related costs;

   n) analyze both historical and ongoing intercompany and related
party transactions of the Debtor and non-Debtor affiliates;

   o) attend Committee meetings, court hearings, and auctions as
may be required;

   p) advise and assist the Committee in the evaluation of the
Debtor;s operations and investments;

   q) render such other general business consulting or assistance
as the Committee or its counsel may deem necessary, consistent with
the role of a financial advisor;

   r) other potential services, including: render expert testimony,
issue expert reports and or litigation and forensic work that has
not yet been identified but as may be requested from time to time
by the Committee and its counsel; and

   s) perform all other necessary and appropriate services for the
Committee in connection with the case

The rates for the firm's professionals anticipated to be assigned
to this engagement (before discount) are:

      Professionals          Hourly Rates
      -------------          ------------
      Christopher Kearns     $895
      Jay Borow              $895
      Frank Holder           $800
      Joseph Vizzini         $595
      Zachary Mainzer        $390

      Managing Director      $625-$895
      Staff                  $200-$640
      Support staff          $120-$200

Jay Borow, managing director and member of the firm, assures the
Court that the firm is a "disinterested person" within the meaning
of Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

      Christopher Kearns
      Jay Borow         
      Frank Holder      
      Joseph Vizzini    
      Zachary Mainzer   
      Berkeley Research Group LLC
      104 West 40th Street, 16th Floor
      New York, NY 10018
      Tel: 212.782.1400
      Fax: 212.782.1478
      Email: ckearns@thinkbrg.com
             jborow@thinkbrg.com
             fholder@thinkbrg.com
             jvizzini@thinkbrg.com

                            About Hovensa

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

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

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: Committee Taps Hamm Eckard as Co-counsel
-----------------------------------------------------
The Official Committee of Unsecured Creditors for HOVENSA LLC asks
the District Court of the Virgin Islands for permission to retain
Hamm Eckard LLP as its co-counsel nunc pro tunc Sept. 28, 2015.

The firm will:

   a) give legal advice with respect to the Committee's powers and
duties in the context of this case;

   b) assist and advise the Committee in its consultation with the
Debtor and others regarding the administration of this case;

   c) attend meetings and negotiate with the Debtor's
representatives and others;

   d) appear, as appropriate, before the Court, the relevant other
courts, and the United States Trustee, and to represent the
interests of the Committee before such courts and the United States
Trustee;

   e) advise the Committee in connection with proposals and
pleadings submitted by the Debtor or others to this Court;

   f) generally prepare on behalf of the Committee all necessary
applications, motions, answers, orders, reports and other legal
papers in support of positions taken by the Committee;

   g) assist the Committee in the review, analysis and negotiation
of any plan(s) of reorganization or liquidation that may be filed
and to assist the Committee in the review, analysis, and
negotiation of the disclosure statement accompanying any plan(s) of
adjustment;

   h) take all necessary action to protect and preserve the
interests of unsecured creditors represented by the Committee,
including to investigate and prosecute actions on the Committee's
behalf;

   i) advise the Committee on the retention of other professionals
and experts to assists in the engagement, including local counsel;

   j) retain expert professional assistance and witnesses, as
necessary; and

   k) perform all other necessary legal services for the Committee
in connection with this Case.

Mark Eckard will bill $350 per hour for services rendered to the
Committee.  The Mr. Eckard says the firm will bill for paralegal
work at the rate of $100 per hour.

Mr. Eckard assures the Court that the firm is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

Mr. Eckard can be reached at:

   Mark Eckard, Esq.
   Hamm Eckard LLP
   5030 Anchor Way
   Christiansted, VI, 00820
   Tel: 340-773-6955
   Email: mark@markeckard.com

                            About Hovensa

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

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

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: Committee Wants to Hire Dentons US as Counsel
----------------------------------------------------------
The Official Committee of Unsecured Creditors for Hovensa LLC asks
the District of the Virgin Islands for permission to retain Dentons
US LLP as its counsel.

The firm will:

     a) give legal advice with respect to the Committee's powers
and duties in the context of this case;

     b) assist and advise the Committee in its consultation with
the Debtor and others regarding the administration of this case;

     c) attend meetings and negotiate with the Debtor's
representatives and others;

     d) appear, as appropriate, before the Court, the relevant
other courts, and the United States Trustee, and to represent the
interests of the Committee before such courts and the United States
Trustee;

     e) advise the Committee in connection with proposals and
pleadings submitted by the Debtor or others to this Court;

     f) generally prepare on behalf of the Committee all necessary
applications, motions, answers, orders, reports and other legal
papers in support of positions taken by the Committee;

     g) assist the Committee in the review, analysis and
negotiation of any plan(s) of reorganization or liquidation that
may be filed and to assist the Committee in the review, analysis,
and negotiation of the disclosure statement accompanying any
plan(s) of adjustment;

     h) take all necessary action to protect and preserve the
interests of unsecured creditors represented by the Committee,
including to investigate and prosecute actions on the Committee's
behalf;

     i) advise the Committee on the retention of other
professionals and experts to assists in the engagement, including
local counsel;

     j) retain expert professional assistance and witnesses, as
necessary; and

     k) perform all other necessary legal services for the
Committee in connection with this Case.

The firm's hourly rates are:

   partners and senior counsel   $400-$1,240
   counsel                       $315-$875
   associates                    $220-$595
   paraprofessionals             $195-$305

Sam J. Alberts, Esq., partner at the firm, assures the Court that
Dentons US is a "disinterested person" within the meaning of
Section 101(14) of the Bankruptcy Code.

Mr. Alberts can be reached at:

   Sam J. Alberts, Esq.
   Dentons US LLP
   1301 K. Street NW, Suite 600, East Tower
   Washington, D.C. 20005-3364
   Tel: +1 202 408 7004
   Email: sam.alberts@dentons.com

                            About Hovensa

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

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

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: U.S. Trustee Amends Committee of Unsecured Creditors
-----------------------------------------------------------------
The U.S. Trustee notified the District Court of the Virgin Islands,
Bankruptcy Division, of the amended appointment of Creditors
Holding Unsecured Claims in the Chapter 11 case of Hovensa L.L.C.

The U.S. Trustee added Terrence Alexis in the Committee.

The Committee now consists of:

   1. Pension Benefit Guaranty Corporation
      1200 K Street, NW
      Washington, DC 20005
      E-mails: serspinski.sven@pbgc.gov
               gran.christopher@pbgc.gov

   2. National Resource Corporation
      3500 Sunrise Highway, Suite 200
      Building 200
      Great River, NY 11730
      E-mails: mboivin@nrcc.com

   3. Atlantic Trading & Marketing, Inc.
      San Felipe Plaza - Suite 2100
      5847 San Felipe
      Houston, TX 77057
      E-mail: john.keough@clydeco.us

   4. Turner St. Croix Maintenance, Inc.
      P.O. Box 2750
      8687 United Plaza Boulevard
      Baton Rouge, Louisiana 70821
      E-mails: jfenner@turner-industries.com
               kpatrick@dps-law.com

   5. United Industrial Workers of the
      Seafarers International Union, AFL-CIO
      P.O. Box 7630
      Christiansted, VI 00823
      E-mail: jmerchant@seafarers.org

   6. Terrence Alexis
      P.O. Box 800031
      Santa Clarita, CA 91380
      ctalexis@yahoo.com

                            About Hovensa

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

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

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.


HUDSON'S BAY: S&P Affirms 'B+' CCR, Off CreditWatch Neg.
--------------------------------------------------------
Standard & Poor's Ratings Services said it removed its ratings on
Hudson's Bay Co. (HBC) from CreditWatch, where they were placed
with negative implications June 15, 2015.  

At the same time, Standard & Poor's affirmed its ratings on HBC,
including its 'B+' long-term corporate credit rating.  The outlook
is stable.

"These rating actions follow completion of the company's HBS Global
Properties joint venture, a US$533 million equity issue, proceeds
from which will be used to reduce HBC's term loan B," said Standard
& Poor's credit analyst Donald Marleau.

The sale of the HBS equity completes the multifaceted financing of
the Germany-based Galleria Kaufhof acquisition, which S&P estimates
will increase HBC's fully adjusted debt leverage to more than 6.0x
from 4.4x for the last 12 months ended Aug. 1, 2015.  The
acquisition improves S&P's view of HBC's business risk profile
modestly by enhancing the company's competitive advantage and
diversity, yet the company remains exposed to slow organic growth
and competitive conditions for department stores in North America
and Europe.

HBC's real estate transactions in 2015 support the 'B+' corporate
credit rating despite higher lease-adjusted debt leverage, as
evidenced by substantial asset coverage and good financial
flexibility.

The stable outlook on HBC reflects Standard & Poor's expectation
that the company's fully adjusted debt leverage will increase to
more than 6x after accounting for the acquisition of Kaufhof, with
limited prospects for deleveraging absent further real estate
monetization.  That said, the execution of the real estate
transactions confirms S&P's assumptions for valuation and validate
the benefits to HBC's capital structure, as well as providing a
path to lower debt.

S&P could lower the ratings if HBC's adjusted EBITDA interest
coverage drops below 2x, weakening the key support for the
company's financial risk profile.  S&P estimates this could occur
if EBITDA margins contract more than 200 basis points (bps) to
below 6% amid flat comparable sales growth.

S&P is unlikely to raise the ratings on HBC over the next year,
given the company's "highly leveraged" financial risk profile, as
indicated by fully adjusted leverage of about 6x over the next few
years with adjusted EBITDA interest coverage constrained to
3.0x-3.5x.  S&P could raise the ratings if leverage drops below 5x,
which it estimates could occur organically if the company boosts
margins by about 100 bps amid steady to positive comparable sales
growth.



ICTS INTERNATIONAL: Annual General Meeting Set for Dec. 15
----------------------------------------------------------
ICTS International N.V. notified shareholders that an annual
general meeting will be held on Dec. 15, 2015, at 10:00 a.m. local
time, at the offices of the Company, located at Walaardt
Sacrestraat, 425-4, 1117 BM Schiphol Oost, The Netherlands.

The agenda for the Annual Meeting, including proposals made by the
Supervisory Board and the Management Board, is as follows:

  1. Opening of the meeting by the Chairman of the Supervisory
     Board.

  2. Report by the Management Board on the course of business of
     the Company during the financial year 2014 with respect to
     the annual accounts of the financial year 2013.

  3. Report by the Supervisory Board with respect to the annual
     accounts of the financial year 2014.

  4. Report of the Audit Committee with respect to the annual
     accounts of the financial year 2014.

  5. Adoption of the English language to be used for the annual
     accounts and annual reports of the Company.

  6. Adoption of the annual accounts of the financial year 2014.

  7. Election of a Managing Director.

  8. Election of five Supervisory Directors.

  9. Ratification of appointment of independent auditors for the
     Company.

10. Discharge from liability of the Management, Management Board
     and Supervisory Board.

11. Questions.

12. Adjournment

Pursuant to the Articles of Association of the Company and
Netherlands law, copies of the annual accounts for the financial
year 2014, the annual report which includes the information
required pursuant to Section 2:392 of the Dutch Civil Code and the
report of the Supervisory Board are open for inspection by the
shareholders of the Company and other persons entitled to attend
meetings of shareholders at the offices of the Company at Walaardt
Sacréstraat, 425-4, 1117 BM Schiphol Oost, The Netherlands.

Shareholders may only exercise their shareholder rights for the
shares registered in their name on Nov. 11, 2015, the record date
for the determination of shareholders entitled to vote at the
Annual Meeting.

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

                      http://is.gd/Cp2HYs

                   About ICTS International

ICTS International N.V. is a public limited liability company
organized under the laws of The Netherlands in 1992.

ICTS specializes in the provision of aviation security and other
aviation services.  Following the taking of its aviation security
business in the United States by the TSA in 2002, ICTS, through
its subsidiary Huntleigh U.S.A. Corporation, engages primarily in
non-security related activities in the USA.

ICTS, through I-SEC International Security B.V., supplies aviation
security services at airports in Europe and the Far East.

In addition, I-SEC Technologies B.V. including its subsidiaries
develops technological systems and solutions for aviation and non?
aviation security.

Mayer Hoffman McCann CPAs, in New York, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has a history of
losses from continuing operations, negative cash flows from
operations and a working capital and shareholders' deficit.
Collectively, these conditions raise substantial doubt about the
Company's ability to continue as a going concern.


INTERLEUKIN GENETICS: Incurs $2.02 Million Net Loss in 3rd Quarter
------------------------------------------------------------------
Interleukin Genetics, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $2.02 million on $296,000 of total revenue for the three months
ended Sept. 30, 2015, compared to a net loss of $1.45 million on
$472,000 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 $6.03 million on $1.07 million of total revenue
compared to a net loss of $4.69 million on $1.48 million of total
revenue for the same period last year.

As of Sept. 30, 2015, the Company had $7.90 million in total
assets, $8.74 million in total liabilities and a total
stockholders' deficit of $845,000.

The Company had cash and cash equivalents of $6.30 million as of
Sept. 30, 2015.

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

                      http://is.gd/rcZ1y0

                       About Interleukin

Waltham, Mass.-based Interleukin Genetics, Inc., is a personalized
health company that develops unique genetic tests to provide
information to better manage health and specific health risks.

Grant Thornton LLP, in Boston, Massachusetts, issued a "going
concern" qualification in its report on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company has incurred recurring losses from operations and has an
accumulated deficit that raise substantial doubt about the
Company's ability to continue as a going concern.


IZING PROPERTIES: Case Summary & 6 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Izing Properties, LLC
        4553 E Palamino Road
        Phoenix, AZ 85018

Case No.: 15-14813

Chapter 11 Petition Date: November 19, 2015

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

Judge: Hon. Scott H. Gan

Debtor's Counsel: Harold E. Campbell, Esq.
                  CAMPBELL & COOMBS, P.C.
                  1811 S. Alma School Rd. Ste. 225
                  Mesa, AZ 85210
                  Tel: 480-839-4828
                  Fax: 480-897-1461
                  Email: heciii@haroldcampbell.com

Total Assets: $1.19 million

Total Liabilities: $998,794

The petition was signed by Patrick H Encinas, managing member.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/azb15-14813.pdf


JEFFERSON COUNTY, AL: Fitch Affirms BB Rating on 2013 Sewer Bonds
-----------------------------------------------------------------
Fitch Ratings affirms the following ratings for Jefferson County,
AL's (the county) warrants:

-- $395.0 million senior lien sewer revenue current interest
    warrants series 2013-A at 'BB+';

-- $55.0 million senior lien sewer revenue capital appreciation
    warrants series 2013-B at 'BB+';

-- $150.0 million senior lien sewer revenue convertible capital
    appreciation warrants series 2013-C at 'BB+';

-- $808.6 million subordinate lien sewer revenue current interest

    warrants series 2013-D at 'BB';

-- $50.3 million subordinate lien sewer revenue capital
    appreciation warrants series 2013-E at 'BB'; and

-- $324.3 million subordinate lien sewer revenue convertible
    capital appreciation warrants series 2013-F at 'BB'.

The Rating Outlook is Stable.

SECURITY

The senior lien warrants are payable from gross system revenues of
the county's sanitary fund, which does not include sewer tax
revenues that are used for operations. The subordinate lien
warrants are payable from system revenues after payment of the
senior lien warrants.

KEY RATING DRIVERS

FLAT CUSTOMER BASE: Jefferson County provides sewer service to a
large service area across the entire county with an economy that
continues to diversify. Flat customer trends precludes
growth-related capital needs but burden the existing customer base
with substantial existing debt and infrastructure reinvestment
costs.

FINANCIAL SELF-SUFFICIENCY: The county's exit from bankruptcy in
2013 returned the county's sanitary sewer fund to an adequate
financial position in fiscal 2014. The county's sewer fund ended
fiscal 2014 with $9.7 million in unrestricted cash (or 67 days of
operations) and all-in debt service coverage (DSC) of 1.8x.

INCLINING DEBT SERVICE STRUCTURE: Sewer system cash flows are
sufficient to generate healthy all-in DSC of at least 1.6x and meet
capital demands through 2023. In 2024 and beyond, DSC is projected
to be modest at around 1.25x as a result of back-loaded debt
service, which will provide insufficient remaining cash flow to
support known capital needs.

EXCEEDINGLY HIGH DEBT BURDEN: System debt levels are exceptionally
high, even with the substantial reduction in system debt achieved
by the exit from bankruptcy in 2013. Further, the very slow pace of
debt amortization and use of capital appreciation warrants will
result in an elevated debt burden for decades even without
additional borrowings.

COMMISSION SUPPORTED RATE INCREASES: The Approved Rate Structure
(ARS) includes annual rate adjustments through final maturity of
the warrants (2053). Ongoing support of the Commission to implement
the annual rate increases authorized by the ARS, and any additional
future rate adjustments that may be required to meet the rate
covenant on the warrants, is key to the ratings.

ONGOING LITIGATION RISK: Litigation is ongoing regarding the
bankruptcy court's authority to enforce the ARS. While Fitch
continues to assess the risk of potential litigation to credit
quality, the ratings reflect the political will and authority of
the County Commission to enforce the ARS and produce sufficient
revenues to pay warrantholders. Less rating support is placed on
the authority of the bankruptcy court to enforce the ARS in the
absence of Commission action to do so in the future.

RATING SENSITIVITIES

HINDRANCES TO APPROVED RATE STRUCTURE (ARS): Any action which
limits or repeals the ARS would be viewed as a material weakening
of Jefferson County's ability to operate the sewer system and meet
obligations to warrantholders. Downward rating pressure would be
expected to follow in turn.

UNLIKELY UPWARD RATING POTENTIAL: The rating is unlikely to move
upwards given the long-term capital demands of the system,
back-loaded debt and rate sensitivity beyond increases in the ARS.


CREDIT PROFILE

Jefferson County is located in northeastern Alabama and has an
estimated population of around 660,000 people, which has been flat
since at least 2000. The county provides retail wastewater
collection, treatment, and disposal service to a 440-square-mile
area that includes 23 municipalities within the county (including
the cities of Birmingham and Bessemer) as well as unincorporated
parts of the county and very small portions of Shelby and St. Clair
Counties. The cities of Birmingham and Bessemer bill customers
directly for sewer service on behalf of Jefferson County and
account for 91% of customers.

The county declared bankruptcy in November 2011 following default
on its sewer warrants, general obligation warrants and lease
obligations. The chapter 9 plan of adjustment was approved by the
bankruptcy court on Nov. 22, 2013 allowing the county to exit
bankruptcy. The bankruptcy plan allowed the county to restructure
its debt by issuing the senior and subordinate series 2013
warrants.

RETURN TO FINANCIAL SUFFICIENCY IN 2014

The county's 2014 audit indicated a return to financial sufficiency
of the sewer system. The bankruptcy plan included the forgiveness
of $1.4 billion in outstanding debt and the 2013 warrants
restructured repayment of the remaining debt through 2053,
providing significant debt service payment relief in the early
years. As a result, full debt service was paid and all-in DSC was
healthy at 1.8x.

In addition, the 2014 audit was completed by March 31, 2015 and
newly required quarterly statements have also been provided in a
timely manner. This represents improved disclosure from the past
years of delayed audits with material concerns. The county
continues to receive a qualified opinion in regards to the sewer
fund since the value of the assets contributed in the 1990's from
other sewer systems in the county cannot be verified through
documentation. The qualification is not a rating concern since
system assets may be understated, as a result. All other material
audit concerns have been resolved.

FISCAL 2015 PERFORMANCE TO DATE AS EXPECTED

Audited results for fiscal 2015 will not be complete until March
31, 2016 but third quarter financials show revenues and cash levels
in line with fiscal 2014 performance and expenditures trending
lower. Coverage is expected to meet or exceed the original 2013
feasibility forecast in fiscal 2016 of 1.6x DSC.

The county's financial staff, under the direction of the chief
financial officer, continues to build upon work done in the past
two years to modernize and clean up the internal accounting
processes within the county. In 2015, the county implemented a new
accounting system that it believes will further improve financial
reporting.

INCLINING DEBT SERVICE STRUCTURE CREATES OUT-YEAR PRESSURE

Favorable financial performance through fiscal 2023 is in large
part due to a back-loaded debt structure and the use of capital
appreciation bonds. Debt service increases nearly 70% in fiscal
2024 from the prior year to over $140 million and then continues to
escalate 3% annually through fiscal 2039. This large jump in debt
service costs is concerning. Based on the 2013 feasibility report
(the most recent forecast available), all-in DSC is projected to
fall to 1.25x, with annual rate increases, but cash flow will be
inadequate to fund the system's known capital needs.

Fitch is concerned about the system's practical ability to increase
rates above those contemplated in the ARS to cover the shortfall in
meeting basic ongoing capital expenses in 2024 and thereafter.
Fitch further believes the risk of enhanced environmental
requirements regarding sewer treatment and discharges is likely
over the long term. To the extent these regulations translate into
additional capital and/or operating expenses, system financial
projections will be strained even further.

COMMISSION SUPPORT FOR APPROVED RATE INCREASES IS KEY

Implementation of the ARS is a key credit factor supporting the
ratings on the 2013 warrants. The ARS was adopted by the County
Commission (the commission) in October 2013. The October 2013
resolution enacting the ARS approved four annual rate increases of
7.89% effective on Nov. 1, 2014 and Oct. 1, 2015-2017. Thereafter,
the October 2013 resolution provides for annual 3.49% increases
beginning Oct. 1, 2018 and continuing as long as the 2013 sewer
revenue warrants are outstanding. The commission retains its
ability to make additional rate adjustments through the enactment
of adjusting resolutions as long as the rate covenant is
maintained.

The adoption of the ARS is a credit positive in that it alleviates
some political pressure to act on raising rates in the future.
Nevertheless, Fitch remains concerned regarding the implementation
of future rate increases given the political backlash that may
ensue from the prolonged escalation in rates associated with the
ARS. In addition, Fitch is concerned that the resulting cost of
service from the ARS implementation severely limits the county's
ability to increase rates beyond the level permitted by the ARS to
meet expected shortfalls in capital spending needs in fiscal 2024
and thereafter through either pay-as-you-go capital or through
servicing additional debt. An average sewer bill in fiscal 2014 is
approximately $56 per month (based on Fitch's standard usage of
6,000 gallons), which accounts for 1.5% of median household income.


The ARS was incorporated into the plan of adjustment, at the
county's request, in order to allow the bankruptcy court to retain
jurisdiction. The county believes that, as a result, the ARS will
be enforceable by the court. Litigation is ongoing that challenges
the bankruptcy court's authority to enforce the ARS. Fitch's
ratings are based on ongoing support of the elected County
Commission to enforce and uphold the ARS and the rate covenant with
warrantholders. Any indication of the commission's intent to do
otherwise would pressure the rating. Fitch views the ongoing
community discord and legal challenges regarding the ARS as
concerns to credit quality in that they could pressure future
support from the commission to uphold the ARS.

SIGNIFICANT LEVERAGE REMAINS

System leverage ratios are exceptionally high despite the reduction
in system obligations negotiated with creditors under the plan of
adjustment. Debt per customer is $12,975 (as compared to Fitch's
national median or $1,650 per customer) while debt to net plant is
high at 80% (Fitch sector median is 47%).

System leverage will be a key credit concern for some time given
the use of CABs and the back-loaded debt structure that yields a
minimal principal amortization rate of 4% and 8% in the 10-year and
20-year horizons, respectively. Such slow amortization will
constrict the system's capacity to absorb any future debt that may
be needed for system capital purposes and will also absorb much of
the annual rate increases approved in the ARS through the term of
the warrants. Favorably, the system has no variable interest rate
risk or exposure to swap termination payments, both of which were
major contributors to the county's prior bankruptcy filing.



KCP COMMUNICATIONS: Landlord Wants Alleged Debtor Evicted
---------------------------------------------------------
Grandstand Associates, L.C., asks the Bankruptcy Court to lift the
automatic stay in order for it to proceed with its eviction action
against KCP Communications, Inc., as to a commercial property
located at 6640 Ammendale Road, in Beltsville, Maryland.

Upon the filing of the involuntary petition, there is a stay
imposed against Alleged Debtor and the property of the estate
pursuant to Sections 362(a) and 303(b) of the Bankruptcy Code.

Richard L. Gilman, Esq., at Gilman & Edwards, LLC, counsel for
Grandstand, asserts that KCP's continued occupancy of the Leased
Premises without payments has caused Grandstand undue financial
hardship.  He adds Grandstand is not adequately protected as to the
Leased Premises.

On or about Oct. 1, 2013, Grandstand, as landlord, entered into a
commercial lease with KCP, as tenant, whereby the Landlord would
lease to Tenant for sums certain, the premises located at 6640
Ammendale Road, Beltsville, MD 20705.  The Leased Premises is a
commercial warehouse.

The lease term is for five years, commencing on Oct. 1, 2013, and
ending at midnight on Sept. 30, 2018.  According to Grandstand, the
annual rent due, payable in monthly installments to Grandstand, has
not been made by KCP in accordance with the Lease.  Grandstand
tells the Court that KCP was in arrears of $208,829 for rents,
interest, and fees due through
Oct. 15, 2015.

On or around March 11, 2015, Grandstand filed in the District Court
of Maryland for Prince George's County a complaint for possession
of the Leased Premises based on KCP's failure to pay rent.  On or
about April 9, 2015, the District Court entered in favor of
Grandstand a judgment for possession.

Grandstand relates that rather than immediately evict KCP, it
withheld eviction because KCP promised that it would pay the
outstanding rent due.  However, after holding out hope that KCP
would make payment, and after KCP failed to do so, and with the
previous order granting possession stale, Grandstand initiated
another complaint for possession on or about Oct. 27, 2015.  As
reflected in the complaint, KCP was in arrears to Grandstand for
unpaid rent and associated fees costs in the amount of $246,775.  A
hearing on this complaint was scheduled for Nov. 16, 2015, but
stayed by virtue of the involuntary petition.

                   About KCP Communications

An involuntary Chapter 11 bankruptcy petition was filed against
KCP Communications, Inc. (Bankr. D. Md. Case No. 15-25823) on
Nov. 13, 2015.  The petitions were signed by creditors Allan Kullen
and Diane K. Kullen Revocable Trust.  Cohen, Baldinger & Greenfeld,
LLC serves as the petitioners' counsel.  Judge Wendelin I. Lipp has
been assigned the case.

An answer to the involuntary petition is due no later than Dec. 7,
2015.


KID BRANDS: Can Employ Province Inc. as GUC Trustee
---------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey, in an
amended order, authorized Kid Brands, Inc., to employ Province,
Inc., as GUC Trustee.

The Court has entered an order approving the application on Oct.
15, 2015, however, the Debtors, the Official Committee of Unsecured
Creditors and the U.S. Trustee agreed to amend the original Order.

The amended order provides that, among other things, that the
application is granted and the Debtors are authorized to employ and
retain Province as GUC Trustee to perform services in accordance
with the terms and conditions set forth in the Province Agreement;
provided, however, that the GUC Trustee is not permitted to
disburse the GUC Trust Litigation Proceeds until the Trust
Agreement is executed.

For the avoidance of doubt, to the extent there is an inconsistency
between the Province Agreement and the Final DIP Order, the Final
DIP Order will control.

The Oct. 15 order provided that Province, as GUC Trustee, will
receive and deposit the GUC Trust Account Funds in an account held
in accordance with the terms of the final order.

In a separate filing, Joel R. Glucksman, partner, chair, Bankruptcy
and Creditors Rights Law Group, counsel for Schenker Ocean Limited
and Schenker, Inc, creditors asked the Court that two of the
creditor attorneys Benjamin F. Mann and John J. Cruciani be removed
from the ECF service list.

Mr. Mann and Mr. Cruciani had ceased active presentation in the
matter, and the firm remains as New Jersey counsel in the case.

                         About Kid Brands

Based in Rutherford, New Jersey, Kid Brands, Inc., is a designer,
importer, marketer, and distributor of infant and juvenile consumer
products.  Its operating subsidiaries consist of Kids Line, LLC,
CoCaLo, Inc., Sassy, Inc., and LaJobi, Inc.

Citing their inability to raise capital due to contingent
liabilities and operational issues, Kid Brands and six of its U.S.
subsidiaries each filed a voluntary petition (Bankr. D.N.J. Lead
Case No. 14-22582) on June 18, 2014.  The Court approved the joint
administration of their cases.  Kid Brands Inc. disclosed $921,358
in assets and $47,947,589 in liabilities as of the Chapter 11
filing.

Judge Donald H. Steckroth presides over the cases.  Lowenstein
Sandler LLP represents the Debtors in their restructuring effort.
PricewaterhouseCoopers LLP is the Debtors' financial advisor, and

GRL Capital Advisors acts as restructuring advisors.  GRL's Glenn
Langberg is the Debtors' chief restructuring officer.  Rust
Consulting/Omni Bankruptcy is the Debtors' claims and noticing
agent.

The Debtors are pursuing a sale of the assets pursuant to Section
363 of the Bankruptcy Code.

Salus Capital Partners LLC and Sterling National Bank have
committed to provide up to $49 million in DIP financing to the
Debtors.

The Official Committee of Unsecured Creditors retained Kelley Drye
& Warren LLP as its counsel, and Emerald Capital Advisors Corp. as
its financial advisors.


KLEEN ENERGY: Fitch Affirms 'BB' Ratings on $730MM Loans
--------------------------------------------------------
Fitch Ratings has affirmed at 'BB' the ratings for Kleen Energy
Systems, LLC's $435 million ($176.3 million outstanding) term loan
A due 2018 and $295 million ($259.9 million outstanding) term loan
B due 2024.  The Rating Outlook is Negative.

The Negative Outlook is based on the continued volatility in
Kleen's cost structure, particularly with respect to rapidly
escalating Regional Greenhouse Gas Initiative (RGGI) costs.  Fitch
recognizes that operational performance has stabilized, and the
project's liquidity position has improved with the prospective
repayment of deferred target amortization.  Nonetheless, Kleen's
projected 2015 debt service coverage ratio (DSCR) of 1.28x remains
slightly below Fitch rating case levels.  Resolution of the
Negative Outlook is contingent upon Kleen's actual financial
performance relative to Fitch's rating case projections.

KEY RATING DRIVERS

Revenue Risk: Midrange

Fixed price agreements - Kleen's revenues are currently derived
from fixed-price tolling and capacity agreements with
investment-grade counterparties, partially mitigating price risks
through 2017.  The project remains subject to replacement power
costs in the event of a forced outage under the tolling agreement.
Kleen is vulnerable to margin risks during the post-2017 merchant
period but is not entirely dependent on market-based revenues, as
capacity payments alone should be sufficient to meet debt service
requirements.  A scheduled step-down in debt service should
moderate Kleen's energy price exposure after the tolling agreement
expires.

Operation Risk: Weaker

Volatile operational history - Kleen has not yet established a
stable cost profile or demonstrated a pattern of consistent
operating performance.  Actual costs have exceeded original
projections by a wide margin, heightening the potential impact of
operational underperformance.  It is uncertain whether Kleen can
reliably meet target availability requirements over the long-term
to avoid contractual penalties and maximize revenues, based on
Kleen's history of forced outages.  Favorably, Kleen benefits from
commercially proven technology operated and maintained by
experienced O&M providers.

Supply Risk: Midrange

Low supply risk - Volumetric risks are minimal, as the project is
situated in a highly liquid and competitive natural gas market. The
tolling counterparty bears natural gas supply risks in the medium
term.

Debt Structure: Midrange

Mitigated refinancing risk - Fitch believes Kleen will likely fully
prepay the term loan A balloon payment prior to maturity, absent
persistent operational challenges.  The supplemental amortization
mechanism relies upon contracted revenues during the tolling
period, and catch-up provisions provide some protection against
temporary interruptions in cash flow.  Kleen's debt structure
otherwise incorporates standard terms and conditions with adequate
liquidity provisions.

Financial Metrics

Weakened financial profile - Fitch-projected DSCRs range between
1.25x and 1.35x during the tolling period under a Fitch rating case
that considers a combination of low availability, technical
underperformance, and further increases to a deteriorating cost
profile.  The rating is not constrained by financial performance
during the merchant period, primarily due to declining debt service
relative to higher projected revenues.

Peer comparison - Kleen's credit quality is consistent with other
thermal projects in the 'BB' rating category.  Lea Power Partners,
LLC (rated 'BB+' with a Stable Outlook) has stabilized its
operating costs, and cash flows are sufficient to support a higher
average rating case DSCR of 1.37x.  Conversely, CE Generation LLC
(rated 'BB-' with a Stable Outlook) is exposed to a greater degree
of price risk with rating case DSCRs that fall below breakeven,
such that the project is reliant upon sponsor support.

Comparable projects often demonstrate an uncertain cost profile,
heightened operating risks, and/or elements of merchant exposure.
Investment-grade projects with fully contracted output exhibit
considerably stronger financial profiles with rating case DSCRs
that consistently exceed 1.4x.

RATING SENSITIVITIES

Negative - Ongoing Cost Volatility: Demonstration of a stable cost
profile would be consistent with the rating, while further
increases in costs would heighten the project's vulnerability to
operating event risks.

Negative - Performance Shortfalls: Persistently low availability,
repeated forced outages, or an accelerated degradation in heat
rates could reduce revenue and subject the project to contractual
penalties.

Negative - Inability to Refinance: In the event that an outstanding
balance remains on the term loan A at maturity, market conditions
and/or project-specific factors could prevent Kleen from
refinancing.

Positive - Robust Post-Tolling Profile: Kleen's financial profile
could improve if the facility maintains long-term operational
stability and demonstrates the ability to consistently earn
merchant revenues once the tolling period expires.

CREDIT UPDATE

Kleen has achieved substantial progress with respect to liquidity
and operational stability but the uncertainty inherent to Kleen's
cost profile persists.  Kleen projects a YE 2015 DSCR of 1.28x, a
significant improvement over the 1.01x recorded for YE 2014 but
slightly below Fitch's rating case estimate of 1.3x.  The project
has generated sufficient cash flow to repay all but $2.8 million of
deferred target amortization, and the project anticipates that it
will settle the outstanding deferrals at the next quarterly payment
date in December.  Increased revenues are the primary driver of
improved financial performance for 2015, though operating cost
issues continue to adversely impact cash flow. Kleen had originally
planned to fully repay deferred target amortization by Q2 2015 and
budgeted a 1.36x DSCR for YE 2015.

Kleen's operational performance has stabilized with rolling 12
month availability of 97.5%.  Availability reductions include minor
cold weather-related outages in Q1 2015 and additional downtime for
unscheduled preventative maintenance in September that addressed a
leak in the steam injection system.  Hot gas path and combustion
turbine inspections, which are not included in the availability
calculation under the tolling agreement, were performed in March
without complications.  The project confirmed that there is no
major maintenance planned for 2016 that could affect tolling
availability.  The capacity factor has recovered to nearly 80% for
YTD Oct 2015 and heat rates remain well below contractual
requirements.

The recovery in operational performance thus far in 2015 has
translated into considerably higher revenues under the tolling
agreement compared to 2014, when severe outages drastically reduced
availability.  Increased dispatch has allowed for higher variable
O&M reimbursements, for which Kleen earns a positive margin.
Capacity payments have otherwise remained steady despite the 2014
outage, as the capacity agreement includes relatively liberal
availability requirements.  Fitch expects Kleen's revenue profile
to return to pre-2014 levels going forward, absent further
operational interruptions.

Operating costs for the YTD Q3 2015 are slightly below expectations
with the exception of RGGI costs incurred earlier in the year.
RGGI costs have skyrocketed to nearly $6.70/ton and continue to
reach all-time highs.  RGGI costs drove the Q1 2015 DSCR to 1.0x in
combination with a higher Connecticut Gross Receipts Tax (CGRT).
Kleen's 2016 budget, which assumes no further technical performance
shortfalls but takes higher RGGI and CGRT costs into account,
projects a 1.33x DSCR that falls slightly below Fitch's base case
of 1.34x.  Fitch believes that the increased RGGI costs likely
represent a permanent change to Kleen's cost profile.

Fitch expects 2015 should represent a normalized year of operations
and will revise its financial projections once full year 2015
financial results are available.  Fitch had originally intended to
base revised projections on 2014 performance. However, Fitch
believes that the data forms an unsuitable basis for expectations
due to the extraordinarily low operating performance and related
expenses.  Kleen's cost profile has otherwise compared favorably to
Fitch's rating case over the past two years, notwithstanding the
inherent volatility.

Kleen is a special-purpose company created to own and operate the
project, which consists of a 620-megawatt combined-cycle electric
generating facility located near Middletown, CT.  Kleen sells
capacity under a 15-year agreement with Connecticut Light & Power
(Fitch IDR 'BBB+' with a Positive Outlook).  Exelon Generation
Company (ExGen, IDR 'BBB' with a Stable Outlook) purchases the
facility's energy output under a seven-year tolling agreement.
Exelon Corp. (IDR 'BBB+' with a Negative Watch), ExGen's parent,
has partially guaranteed ExGen's contractual obligations.



KLOSTERMAN EQUIPMENT: "Opperman" Suit Recommended for Dismissal
---------------------------------------------------------------
Klosterman Equipment, LLC, and Steve Klosterman appeal the judgment
of the Court of Common Pleas of Mercer County finding in favor of
John Opperman and Genny Mae, Inc.

On appeal, the Defendants argue that the trial court erred by (1)
determining that the Defendants were guilty of theft; (2) awarding
the Plaintiffs treble damages; (3) awarding the Plaintiffs attorney
fees and administrative costs; (4) piercing the corporate veil to
find Steve individually liable for the actions of Klosterman; (5)
determining that the value of the property that was not returned
was $6,177; (6) granting Opperman's motion to add a party; and (7)
determining that the Defendants failed to present any evidence of
their counterclaims.  Finally, the Defendants argue that the
court's finding that they were guilty of theft was against the
manifest weight of the evidence.

In an Opinion dated November 9, 2015, which is available at
http://is.gd/cvlwotfrom Leagle.com, the Court of Appeals of Ohio,
Third District, Mercer County, affirmed in part, reversed in part
the judgment Of the trial court and remanded the case with
instructions to dismiss the complaint for lack of standing.

The case is JOHN O. OPPERMAN, ET AL., PLAINTIFFS-APPELLEES, v.
KLOSTERMAN EQUIPMENT LLC, ET AL., DEFENDANTS-APPELLANTS, NO.
10-14-09, 2015-Ohio-4621.

Appellants are represented by:

          Kelly J. Rauch, Esq.
          DILLER & RICE LLC
          124 E Main Street
          Van Wert, OH 45891   
          Phone: 419-238-5025
          Fax: 419-238-4705

Appellees are represented by:

          Eric J. Wilson, Esq.
          GODFREY KAHN, S.C.
          One East Main Street
          Suite 500
          P.O. Box 2719
          Madison, WI
          53701-2719 USA
          Phone: 608.284.2603
          Fax: 608.257.0609
          Email: ewilson@gklaw.com


LA HABICHUELA: Case Summary & 18 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: La Habichuela, Inc.
           aka Arrocito Con...
           aka Al Fuego Grill
           aka El Arrocito
        PO Box 9853
        Plaza Carolina Station
        Carolina, PR 00988

Case No.: 15-09171

Chapter 11 Petition Date: November 19, 2015

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Francisco R. Moya Huff, Esq.
                  250 Ponce De Leon Avenue
                  City Towers, Suite 404
                  San Juan, PR 00918
                  Tel: 787 723-0714; 724-2447
                  Fax: 787-725-3685
                  Email: fmoyahuff@gmail.com

Total Assets: $164,372

Total Liabilities: $1.23 million

The petition was signed by Francisco Cabello Dominguez, secretary.

A list of the Debtor's 18 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb15-09171.pdf


LEVEL 3: Southeastern Asset Reports 10.7% Stake as of Nov. 23
-------------------------------------------------------------
Southeastern Asset Management, Inc. disclosed in an amended
Schedule 13G filed with the Securities and Exchange Commission on
Nov. 10, 2015, that it beneficially owns 38,190,984 shares of
common stock of Level 3 Communications, Inc., representing 10.7
percent of the shares outstanding.  A copy of the regulatory filing
is available at http://is.gd/YChSyX

                    About Level 3 Communications

Headquartered in Broomfield, Colorado, Level 3 Communications,
Inc., is a publicly traded international communications company
with one of the world's largest communications and Internet
backbones.

For the year ended Dec. 31, 2014, the Company reported net income
of $314 million on $6.77 billion of revenue compared to a net loss
of $109 million on $6.31 billion of revenue during the prior year.

                           *     *     *

In September 2015, Fitch Ratings has upgraded the Issuer Default
Rating (IDR) assigned to Level 3 Communications, Inc. (LVLT) and
its wholly owned subsidiary level 3 Financing, Inc. (Level 3
Financing) to 'BB-' from 'B+'.  The rating action recognizes LVLT's
strengthening financial and operating profile as the company
completes the integration of tw telecom, Inc.

In June 2013, Standard & Poor's Ratings Services raised its
corporate credit rating on Level 3 to 'B' from 'B-'.  "The upgrade
reflects improved debt leverage, initially from the acquisition of
the lower-leveraged Global Crossing in October 2011, and
subsequently from realization of the bulk of what the company
expects to eventually be $300 million of annual operating
synergies," said Standard & Poor's credit analyst Richard
Siderman.

As reported by the TCR on Aug. 17, 2015, Moody's Investors Service
upgraded Level 3 Communications, Inc.'s corporate family rating
(CFR) to Ba3 from B2.  Level 3's Ba3 CFR is based on the company's
solidifying business and financial profiles as it integrates the
former tw telecom, inc., with Moody's anticipating continued margin
improvement as synergies are realized, and as higher margin
Internet Protocol-based services replace legacy services.


LIFEPOINT HEALTH: Fitch Assigns 'BB' Rating on $300MM Sr. Notes
---------------------------------------------------------------
Fitch Ratings has assigned a 'BB/RR4' rating to LifePoint Health,
Inc.'s $300 million senior notes maturing in 2023.  The proceeds
will be used for general corporate purposes.  The Rating Outlook is
Stable.  The ratings apply to approximately $2.2 billion of debt at
Sept. 30, 2015.

KEY RATING DRIVERS

   -- LifePoint's pro forma leverage (total debt to EBITDA)
      considering the $300 million of new notes is amongst the
      lowest in the for-profit hospital industry at 3.4x.  Coupled

      with strong and consistent free cash flow (FCF), this gives
      the company financial flexibility to pursue a fairly
      aggressive growth through acquisition strategy while
      maintaining credit metrics supportive of the 'BB' Issuer
      Default Rating.

   -- Although operating trends in the for profit hospital
      industry improved starting in mid-2014, secular challenges,
      including a shift to lower-cost care settings and health
      insurer scrutiny of hospital care, are a continuing headwind

      to organic growth.

   -- LifePoint's recent acquisitions have been in faster growing
      markets with a more favorable patient payor mix than the
      company's legacy markets, improving the business profile.

   -- There are headwinds to profitability. Some are industry-wide

      concerns, including the potential for negative operating
      leverage as recently strong volume performance subsides, and

      a reduction in cash payments for demonstrating meaningful
      use of electronic health records.  Specific to LifePoint,
      the integration of a rapid succession of acquisitions is a
      drag on profitability.

Acquisitions Driving Better Results

While LifePoint remains primarily a rural and small suburban market
hospital operator, the company has recently been deploying capital
to buy hospitals in faster-growing markets, as well as making
acquisitions to build out the network of facilities in certain of
its existing markets.  This strategy has contributed to stronger
trends in patient volumes and pricing, evidenced by growth in
pricing in continuing operations being markedly better than
same-hospital results starting in 2014.

LifePoint's legacy portfolio exposed the company to certain
operating challenges.  These included high volumes of uninsured
patients and uncompensated care, sensitivity to trends in low
acuity conditions like the seasonal flu, and a greater
macroeconomic sensitivity of patient demand.  Fitch believes the
company's improved geographic mix will translate into better
organic operating trends as an increasing number of the recent
acquisitions are rolled into same-store results in 2015-2016.

But Strategy Not Without Challenges

The rapid pace of M&A does present some challenges.  Rolling in the
newly acquired hospitals is a headwind to profitability since the
company's typical target is a not-for-profit community hospital
that operates with margins much below the legacy LifePoint group of
hospitals.  In the third quarter of 2015 (3Q15), the company's
operating EBITDA margin dropped by 23 basis points (bps) versus the
prior year period, with management attributing much of the decline
to the integration of acquisitions.

Hospital operators acquire properties with the intent of improving
profitability over a period of several years.  The source of margin
improvement includes both the obvious sorts of cost synergies, as
well as revenue synergies stemming from relationships with patients
and health insurers.  As with any inorganic growth strategy, there
is some amount of integration risk involved, but LifePoint has a
recently successful track record based on the margin improvements
posted in the class of recently acquired hospitals.

Affordable Care Act Supporting Operations, Although Benefit
Tapering

LifePoint operates in markets that have historically had high
exposure to uninsured patients, contributing to a significant
financial headwind from uncompensated care.  Only nine of the 21
states in which LifePoint operates hospitals have so far opted into
Medicaid expansion under the Affordable Care Act (ACA), but the
company experienced a very marked decline in volumes of self-pay
patients in these states; same-hospital self-pay admissions in
Medicaid expansion states dropped 71% in the 4Q14, and in all
states by 42%.

There remains a significant amount of uncertainty regarding the
ACA's ultimate impact on the hospital sector.  Based on 3Q15
results reported by LifePoint and the company's industry peers, the
initial tailwinds to volume and patient mix seems to be tapering,
but further benefits could be realized by additional states opting
to expand Medicaid eligibility.

KEY ASSUMPTIONS

   -- Fitch expects LifePoint to realize low single digit organic
      topline growth through the forecast period.  This
      incorporates an assumption that both patient volumes and
      pricing will show some pull back from the strong results of
      the past couple of quarters.  Secular headwinds to growth in

      the hospital sector remain intact, comparisons became more
      difficult in the second half of 2015, and the tailwind from
      the ACA health insurance expansion is tapering.

   -- Fitch forecasts EBITDA of $715 million for LifePoint in
      2015, including the contribution of recent acquisitions and
      year end leverage of 3.4x.

   -- Fitch expects LifePoint's operating EBITDA margin to
      contract by about 60 bps in 2015 versus the 2014 level.  The

      drop in profitability is related to some negative operating
      leverage as recently very strong volume growth recedes, as
      well as to the integration of less profitable acquired
      hospitals.

   -- Capital expenditures are forecasted at $270 million in 2015;

      higher capital expenditures are related to capital
      commitments at recently acquired hospitals.  In some cases,
      this is project-related spending, which will support future
      EBITDA growth.

   -- FCF (CFO less capital expenditures and dividends) remains
      above $200 million throughout the forecast period despite
      higher capital expenditures.

   -- The company deploys cash for both acquisitions and share
      repurchases; total debt is maintained at a level where
      leverage is consistently below 4.0x.

RATING SENSITIVITIES

A downgrade could result from gross debt/EBITDA being maintained
above 4.0x and FCF generation sustained below $150 million
annually.  The most likely driver of a negative rating action is
debt funding of capital deployment, including acquisitions and
share repurchases, leading to leverage sustained above 4.0x.  In
addition, difficulty in the integration of recent acquisitions and
the timing and level of funding of capital projects in new markets
could weigh on FCF and the credit profile.

An upgrade to 'BB+' would be supported by the company operating
with leverage below 3.0x.  Fitch does not believe LifePoint
currently has a financial incentive to operate with leverage at
such a low level, and it is inconsistent with the company's
recently more aggressive stance toward capital deployment for M&A
and share repurchases.

LIQUIDITY

LifePoint's liquidity profile is supportive of the 'BB' credit
profile.  At Sept. 30, 2015, LifePoint's liquidity included $313
million of cash on hand, $331 million of available capacity on its
bank facility revolving loan and latest 12 months (LTM) FCF of $377
million.  LifePoint's LTM EBITDA to gross interest expense was
solid for the 'BB' rating category at 6.3x and the company has
ample operating cushion under its bank facility financial
maintenance covenants, which require debt to be maintained below
4.5x EBITDA.

Debt maturities are manageable.  The next large maturity is the
term loans, which have a final maturity in 2017.  The terms of the
bank agreement give LifePoint significant flexibility to issue
additional debt, including debt secured on a basis pari passu with
the bank agreement.  The company is permitted to issue incremental
term loans or secured notes up to a senior secured leverage ratio
of 3.5x, with an $800 million carveout permitted regardless of the
senior leverage ratio.

The indentures for the two outstanding series of senior unsecured
notes due 2020 and 2021 allow additional secured debt up to a
secured leverage ratio of 3.0x and 3.5x, respectively, plus a
carveout of the greater of $200 million or 5% of total assets for
the notes due 2020 and $300 million or 6% of total assets for the
notes due 2021.  Above this level, there is a springing lien
provision that would result in the senior notes becoming equally
and ratably secured.  With a secured leverage ratio of 0.9x at
Sept. 30, 2015, LifePoint has significant capacity for secured debt
under all of the debt agreements.

FULL LIST OF RATING ACTIONS

Fitch currently rates LifePoint:

   -- Issuer Default Rating 'BB';
   --Secured bank facility 'BB+/RR1';
   -- Senior unsecured notes 'BB/RR4'.

The Rating Outlook is Stable.



LIFEPOINT HEALTH: Moody's Rates $300MM Unsecured Notes Ba2
----------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to $300 million of
proposed senior unsecured notes being offered by LifePoint Health,
Inc. The company intends to use proceeds from the issuance to fund
acquisitions and for general corporate purposes, including the
repurchase of common stock. Moody's estimates that pro-forma
leverage will increase to about 3.7 times initially. Therefore,
LifePoint's existing ratings, including the Ba2 Corporate Family
Rating and the Ba2-PD Probability of Default Rating remain
unchanged. The rating outlook is stable.

RATINGS RATIONALE

LifePoint's Ba2 Corporate Family Rating reflects Moody's
expectation that the company's financial leverage will remain
moderately high in the near term. Moody's also expects the company
to continue with its active pursuit of acquisitions and share
repurchases. However, the company's healthy free cash flow will be
used to fund a considerable portion of its acquisition and share
repurchase activity. Additionally, the rating is supported by
LifePoint's solid presence in the markets in which it operates, as
well as Moody's expectation that operating performance will result
in strong interest coverage and cash flow coverage of debt.

Rating assigned:

Senior unsecured notes due 2023 at Ba2 (LGD4)

Senior unsecured Shelf at (P) Ba2

The rating outlook is stable.

The stable outlook reflects Moody's expectation that the company
will realize continued growth from improvement in its existing
portfolio as well as recently added hospitals. The rating agency
also expects the company to remain disciplined with respect to
adding incremental debt for acquisitions and share repurchases.

LifePoint's ratings could be upgraded if the company can continue
to grow earnings through acquisitions that do not significantly
disrupt operations or require a material use of incremental debt,
and if debt to EBITDA is sustained at or below 3.0 times.

The rating could be downgraded if the company's financial policy
becomes more aggressive with respect to debt financed acquisitions
or share repurchases or if the company experiences operating
challenges or integration issues such that debt to EBITDA would be
sustained above 4.0 times.

Headquartered in Brentwood, Tennessee, LifePoint Health, Inc. is a
leading operator of general acute care hospitals with operations
predominantly in non-urban communities. At September 30, 2015, on a
consolidated basis, the company operated 67 hospital campuses in 21
states. LifePoint generated about $5.1 billion in revenue after the
provision for doubtful accounts in the twelve months ended
September 30, 2015.



LIFEPOINT HOSPITALS: S&P Assigns 'BB-' Rating on $300MM Sr. Notes
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' issue-level
rating and '4' recovery rating to LifePoint Hospitals Inc.'s $300
million senior unsecured note issuance.  The '4' recovery rating on
the notes indicates our expectation for average (30% to 50%; in the
lower half of the range) recovery in a default scenario.  S&P's
existing ratings on LifePoint, including the 'BB-' corporate credit
rating, remain the same.

The new notes will rank pari passu with LifePoint's existing term
loan and bond debt.  LifePoint intends to use the proceeds from the
issuance for acquisitions, share repurchases, and general corporate
purposes.

S&P's 'BB-' corporate credit rating reflects its view that
LifePoint's focus on nonurban markets will expose it to economic
weaknesses inherent in rural markets.  Although the company
operates 67 hospitals in 21 states, it has generated slower organic
revenue relative to its peers due to slower economic growth rates
in the rural markets where it operates.  As with all health care
service companies, S&P views reimbursement risk as significant for
LifePoint, although the increased insurance coverage under the
Affordable Care Act partially offsets this risk.  Collectively,
these factors support S&P's assessment of a "weak" business risk
profile.

S&P's ratings on LifePoint also reflect S&P's view that leverage
will average between 3.5x to 4.0x and funds from operations (FFO)
to debt will remain in the low- to mid-20% range for the next few
years, which is consistent with a "significant" financial risk
profile.  S&P also expects LifePoint to generate at least $300
million in free operating cash flows per year; however, S&P thinks
LifePoint will remain acquisitive and prioritize shareholder
returns over debt repayment.

RATINGS LIST

LifePoint Hospitals Inc.
Corporate Credit Rating           BB-/Stable/--
Senior Unsecured                  BB-
   Recovery Rating                 4L

New Rating

LifePoint Hospitals Inc.
$300 Mil. Senior Unsecured Notes  BB-
   Recovery Rating                 4L



MICHIGAN FINANCE: Moody's Assigns Ba1 Rating on Series 2015C Bonds
------------------------------------------------------------------
Moody's Investors Service has assigned a Ba1 to the Michigan
Finance Authority's $156 million Local Government Loan Program
Revenue Bonds, Series 2015C (Detroit Water and Sewerage Department
Sewage Disposal System Revenue Refunding Second Lien Local Project
Bonds).  The bonds are ultimately secured by a second lien pledge
of sewer revenues of the Detroit Water and Sewerage Department.
Concurrently, Moody's has affirmed the Baa3 on outstanding senior
lien and Ba1 on outstanding second lien sewer revenue debt.  The
sewer enterprise has $2.0 billion of senior lien and $838.7 million
of second lien debt outstanding.  The outlook is positive.

SUMMARY RATING RATIONALE

The Baa3 senior lien and Ba1 second lien ratings incorporate
improved operations of the Detroit Water and Sewer Department
(DWSD).  The management team has implemented strategies to increase
efficiency, improve billing collections, provide better services,
track financial performance, and update capital planning.  The
sewer enterprise financial profile remains stable with adequate
coverage, strong liquidity, and high debt, while still pressured by
looming capital needs.

OUTLOOK

The positive outlook reflects the expected continued improvement in
the system's operating performance coupled with the expectation
that the Detroit's water and sewer department debt and operations
will be fully assumed by the Great Lakes Water Authority (GLWA) by
no later than Jan. 1, 2016.  Once all of Detroit's water and sewer
revenue debt become obligations of GLWA, the rating could be
several notches higher, reflecting the legal separation of the
authority from the city.  The separation will significantly limit
the possibility that the water and sewer revenue debt would be at
risk of impairment if the city were to again file for bankruptcy.

WHAT COULD MAKE THE RATING GO UP

   -- Final transfer of operations and debt to the Great Lakes
      Regional Water Authority that results in credit
      strengthening provisions

   -- Long term stabilization of usage trends

   -- Sustained improvement in debt service coverage

   -- Moderation of debt burden

   -- Further improvement in the City of Detroit's credit profile

WHAT COULD MAKE THE RATING GO DOWN

   -- Introduction of additional conditions for the final transfer

      of operations and debt to the Great Lakes Regional Water
      Authority that results in credit weakening provisions

   -- Continued declines in volume trends that materially impact
      operating revenues

   -- Failure to implement rate increases/reduce operating
      expenditures needed to maintain satisfactory debt service
      coverage

   -- Increase in capital needs that substantially leverage the
      system and/or reduce liquidity

OBLIGOR PROFILE

The Detroit Water Sewer Department is a department of the City of
Detroit.  The sewer enterprise provides sewer collection and
treatment services for 2.8 million people, or 28% of the State of
Michigan.

LEGAL SECURITY

Sewer revenue debt is secured by the net revenues of the sewer
enterprise under three liens: Senior, Second, and Junior.  The
junior lien consists of state revolving fund loans.  The rate
covenants are 1.2 times for senior, 1.1 times for second, and sum
sufficient for junior lien.  Additional bonds test match the annual
rate covenant requirement.  Debt service reserve requirements are
the lesser of the three-prong test for the senior lien, average
annual debt service for the second lien, and an optional average
annual debt service reserve for the junior lien. The majority of
reserves are surety funded.

USE OF PROCEEDS

Proceeds of the Sewage Disposal System Revenue Refunding Second
Lien Local Project Bonds will be used to refinance outstanding
second lien sewer revenue obligations of the Detroit Water and
Sewerage Department for economic savings.

PRINCIPAL METHODOLOGY

The principal methodology used in this rating was US Municipal
Utility Revenue Debt published in December 2014.



MICHIGAN FINANCE: Moody's Rates Series 2015 D-2 Bonds' Ba1
----------------------------------------------------------
Moody's Investors Service has assigned Baa3 and Ba1 ratings to the
Michigan Finance Authority's $89.9 million Series 2015 D-1 senior
lien and $38.8 million Series 2015 D-2 second lien Local government
Loan Program Revenue Bonds (Detroit Water and Sewerage Department
Water Supply System Revenue Refunding Local Project Bonds).
Concurrently, Moody's has affirmed the Baa3 on outstanding senior
lien and Ba1 on outstanding second lien water revenue bonds.  The
outlook is positive.

SUMMARY RATING RATIONALE

The Baa3 senior lien and Ba1 second lien ratings incorporate
improved operations of the Detroit Water and Sewer Department
(DWSD).  The management team has implemented strategies to increase
efficiency, improve billing collections, provide better services,
track financial performance, and update capital planning.  The
water enterprise financial profile remains stable with adequate
coverage, strong liquidity, and high debt, while still pressured by
looming capital needs.

OUTLOOK

The positive outlook reflects the expected continued improvement in
the system's operating performance coupled with the expectation
that Detroit's water and sewer department debt and operations will
be fully assumed by the Great Lakes Water Authority (GLWA) by no
later than Jan. 1, 2016.  Once all of Detroit's water and sewer
revenue debt become obligations of GLWA, the rating could be
several notches higher, reflecting the legal separation of the
authority from the city.  The separation will significantly limit
the possibility that the water and sewer revenue debt would be at
risk for impairment if the city were to again file for bankruptcy.

WHAT COULD MAKE THE RATING GO UP

   -- Final transfer of operations and debt to the Great Lakes
      Water Authority that results in credit strengthening
      provisions

   -- Long term stabilization of usage trends

   -- Sustained improvement in debt service coverage

   -- Contract protections to limit loss of wholesale customers
      through competition

   -- Moderation of debt burden

   -- Further improvement in the City of Detroit's credit profile

WHAT COULD MAKE THE RATING GO DOWN

   -- Introduction of additional conditions for the final transfer

      of operations and debt to the Great Lakes Water Authority
      that results in credit weakening provisions

   -- Continued declines in volume trends that materially impact
      operating revenues

   -- Failure to implement rate increases/reduce operating
      expenditures needed to maintain satisfactory debt service
      coverage

   -- Increase in capital needs that substantially leverage the
      system and/or reduce liquidity

OBLIGOR PROFILE

The water supply system supplies treated water to approximately 38%
of the State of Michigan's population via three major intake
systems and five water treatment plans.  The utility serves an
estimated 3.8 million customers across a service area that spans
981 square miles.

LEGAL SECURITY

Water revenue debt is secured the net revenues of the water
enterprise under three liens: Senior, Second, and Junior.  The
junior lien consists of state revolving fund loans.  The rate
covenants are 1.2 times for senior, 1.1 times for second, and sum
sufficient for junior lien.  Additional bonds test match the annual
rate covenant requirement.  Debt service reserve requirements are
the lesser of the three-prong test for the senior lien, average
annual debt service for the second lien, and an optional average
annual debt service reserve for the junior lien. The majority of
reserves are surety funded.

USE OF PROCEEDS

Proceeds of the bonds will be used to refinance outstanding senior
and second lien water revenue bonds of the Detroit Water and
Sewerage Department for savings.

PRINCIPAL METHODOLOGY

The principal methodology used in this rating was US Municipal
Utility Revenue Debt published in December 2014.



MICHIGAN POWER: S&P Assigns Prelim. 'BB+' Rating on $263MM Loans
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary 'BB+'
rating to Michigan Power L.P.'s approximate $216 million term loan
due 2022 and $47 million revolving credit facility due 2020.  The
outlook is stable.  S&P also assigned its preliminary '1' recovery
rating to the term loan and credit facility, indicating very high
(90% to 100%) recovery under a default scenario.  Finalization of
ratings is subject to documentation review.

Michigan Power is a limited-purpose entity that owns a gas-fired
power plant located in Ludington, Mich.

The stable outlook reflects S&P's expectations that Michigan Power
will continue to operate at high availability and perform in line
with past performance.

S&P could lower the ratings if significant underperformance causes
minimum consolidated DSCRs to decline below 1.6x.  A significant
outage or higher O&M expenses could lead to these weaker ratios.
DSCRs could also decline if energy payments under the power
purchase agreement decline due to O&M costs at Consumers Energy not
increasing as fast as we predicted.

A rating upgrade is possible if Michigan Power has excellent
operational performance and earns higher than expected energy
payments due to high costs of environmental compliance for
Consumers Energy's coal fleet.  S&P could consider an upgrade if
minimum DSCR levels improve to above 2.25x on a sustainable basis.



MMRGLOBAL INC: Majority of Security Holders OK Reverse Split
------------------------------------------------------------
MMRGlobal, Inc., on Oct. 8, 2015, received written consent from its
board of directors to amend the Corporation's Articles of
Incorporation to effect a reverse stock split, such that each five
shares of the issued and outstanding Common Stock of the
Corporation shall be reversed split into one share of Common Stock
of the Corporation.  This Stock Split will effect only issued and
outstanding shares.  Each record and beneficial holder who would
receive a fractional share as a result of the reverse split will
receive, in lieu thereof, a whole share.

On Nov. 4, 2015, the Corporation received the written consent of
holders of more than 50% of the Company's voting securities to
effect the Stock Split.

The Stock Split will not be effective until after filing by the
Corporation of its Schedule 14C Information with the Securities and
Exchange Commission and amendment of the Corporation's Articles of
Incorporation.

In addition, the Corporation will file a corporation action
notification with FINRA to effect the Stock Split on the market,
and must receive approval thereof prior to filing amended Articles
of Incorporation.

The Company will announce the effectiveness of the amendment on the
market by filing a Current Report on Form 8-K.
  
                          About MMRGlobal

Los Angeles, Calif.-based MMR Global, Inc. (OTC BB: MMRF)
-- http://www.mmrglobal.com/-- through its wholly-owned operating
subsidiary, MyMedicalRecords, Inc., provides secure and easy-to-
use online Personal Health Records (PHRs) and electronic safe
deposit box storage solutions, serving consumers, healthcare
professionals, employers, insurance companies, financial
institutions, and professional organizations and affinity groups.

MMRGlobal reported a net loss of $2.18 million on $2.57 million of
total revenues for the year ended Dec. 31, 2014, compared with a
net loss of $7.63 million on $587,000 of total revenues for the
year ended Dec. 31, 2013.

As of June 30, 2015, the Company had $1.9 million in total assets,
$9.8 million in total liabilities, all current, and a $7.8 million
total stockholders' deficit.

Rose, Snyder & Jacobs LLP, in Encino, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has incurred
significant operating losses and negative cash flows from
operations during the years ended Dec. 31, 2014, and 2013.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


MOBIVITY HOLDINGS: Reports $1.32 Million Net Loss for 3rd Quarter
-----------------------------------------------------------------
Mobivity Holdings Corp. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.32 million on $1.30 million of revenues for the three months
ended Sept. 30, 2015, compared to a net loss of $1.43 million on
$1.04 million of revenues for the same period in 2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $4.38 million on $3.33 million of revenues compared to
a net loss of $4.63 million on $3.05 million of revenues for the
same period a year ago.

As of Sept. 30, 2015, the Company had $7.09 million in total
assets, $915,000 in total liabilities and $6.18 million in total
stockholders' equity.

"[W]e believe we have working capital on hand to fund our current
level of operations at least through the end of the year.  
However, there can be no assurance that we will not require
additional capital.  If we require additional capital, we will seek
to obtain additional working capital through the sale of our
securities and, if available, bank lines of credit.  However, there
can be no assurance we will be able to obtain access to capital as
and when needed and, if so, the terms of any available financing
may not be subject to commercially reasonable terms," the Company
states in the report.

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

                       http://is.gd/2HkOYE

                     About Mobivity Holdings

Mobivity Holdings Corp. was incorporated as Ares Ventures
Corporation in Nevada in 2008.  On Nov. 2, 2010, the Company
acquired CommerceTel, Inc., which was wholly-owned by CommerceTel
Canada Corporation, in a reverse merger.  Pursuant to the Merger,
all of the issued and outstanding shares of CommerceTel, Inc.,
common stock were converted, at an exchange ratio of 0.7268-for-1,
into an aggregate of 10,000,000 shares of the Company's common
stock, and CommerceTel, Inc., became a wholly owned subsidiary of
the Company.  In connection with the Merger, the Company changed
its corporate name to CommerceTel Corporation on Oct. 5, 2010.
In connection with the Company's acquisition of assets from
Mobivity, LLC, the Company changed its corporate name to Mobivity
Holdings Corp. and its operating company to Mobivity, Inc, on
Aug. 23, 2012.

Mobivity Holdings reported a net loss of $10.4 million in 2014, a
net loss of $16.8 million in 2013, a net loss of $7.33 million in
2012, and a net loss of $16.3 million in 2011.


MOLYCORP INC: U.S. Trustee Balks at Key Employee Incentive Program
------------------------------------------------------------------
BankruptcyData reported that the U.S. Trustee assigned to the
Molycorp case filed with the U.S. Bankruptcy Court an objection to
the Company's motion for an order (a) approving a modified key
employee incentive program (KEIP) and (b) authorizing the Debtors
to file certain information regarding the modified KEIP under seal.


The Trustee asserts, "The U.S. Trustee objects to the motion on the
grounds that the Debtors have not satisfied their burden under 11
U.S.C. sections 503(b)(1)(A) and 503(c) to demonstrate, that (i)
payments under the KEIP are not primarily retention payments to
insiders, (ii) the KEIP is justified by the facts and circumstances
of the cases, and (iii) the KEIP represents the 'actual, necessary
cost of preserving the estate[s].'...  The motion fails to
establish how the modified KEIP as a whole is aspiring and
incentivizes management.  The motion also fails to address whether
the proposed targets are difficult to reach, as opposed to being
mere 'layups.'  The Debtors must meet their burden of proof to
establish that the plan is incentivizing and aspiring, before the
Modified KEIP can be approved.  The reservation of the
restructuring metric is also problematic.  The determination of
whether the Modified KEIP, as a whole, is primarily retentive or
primarily inspirational depends on reviewing the KEIP as a whole.
Reserving one portion of the KEIP for later review eliminates the
ability to review the KEIP as a whole.  The Debtors have failed to
provide sufficient evidence of incentivizing targets that render
any portion of the Modified KEIP anything more than a disguised
retention plan. Under the totality of the facts and circumstances
presented, the KEIP should be denied."

                       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.


MULTI PACKAGING SOLUTIONS: S&P Affirms 'B' CCR; Outlook Stable
--------------------------------------------------------------
Standard & Poor's Ratings Services said that it has affirmed its
'B' corporate credit rating on Multi Packaging Solutions Ltd.
(MPS).  The outlook is stable.

At the same time, S&P raised its issue-level rating on the
company's unsecured notes to 'B' from 'B-' and revised S&P's
recovery rating on the notes to '4' from '5'.  The '4' recovery
rating indicates S&P's expectation for average (30%-50%; higher end
of the range) recovery in the event of payment default.

In addition, S&P affirmed its 'B' issue-level rating on MPS'
secured term loan.  The '2' recovery rating on the loan is
unchanged, indicating S&P's expectation for substantial (70%-90%;
higher end of the range) recovery in the event of a payment
default.

"The affirmation reflects our view that MPS' credit measures will
remain commensurate with our existing ratings on the company," said
Standard & Poor's credit analyst James Siahaan.  MPS' revenues
increased by 16% during the first fiscal quarter ended Sept. 30,
2015, because of contributions from its acquired businesses, which
were partially offset by foreign-exchange headwinds.  The company
has been able to expand its profit margins by implementing
cost-optimization initiatives and realizing cost synergies from its
acquisitions.  These factors, along with some working
capital-related improvements, helped MPS post strong cash flow from
its operations ($33 million) during the first quarter. That strong
performance led MPS to post a trailing-12-month funds from
operations (FFO)-to-debt ratio of approximately 13% as of Sept. 30,
2015.

The stable outlook on MPS reflects S&P's expectation for modest
U.S. and European economic growth in 2016 and S&P's belief that the
company's cost-reduction and plant-optimization initiatives, along
with the contributions from its recent acquisitions, will promote
stability in its EBITDA, free cash flow, and credit quality during
the next year.  S&P notes that despite the Oct. 27, 2015, IPO,
roughly 75% of MPS' shares remain under the control of the
company's equity sponsors Madison Dearborn Partners LLC and The
Carlyle Group.  Nonetheless, S&P assumes that MPS' management and
private-equity owners will be supportive of the company's credit
quality, and thus S&P has not factored any shareholder
distributions or meaningful debt-funded acquisitions into S&P's
analysis.  S&P sees MPS' diversity and competitive position as
favorable compared with its peers', and believe that the company's
post-IPO credit measures provide it with some flexibility at the
current rating level.

MPS' credit measures appear favorable at present, with an adjusted
FFO-to-debt ratio of over 15% following the repayments it made on
its term loan using the proceeds from the IPO.  However, in order
to consider upgrading the company, S&P would need to reassess MPS'
financial policies, including its willingness to incur additional
debt in order to fund acquisitions or dividends.  If S&P deems that
the company's management and ownership will likely maintain
financial policies that are commensurate with a higher rating,
namely keeping MPS' FFO-to-debt ratio consistently within the
12%-20% range, then S&P could consider an upgrade.

While less likely, S&P could lower its ratings on MPS if its
operating performance weakens significantly or if the company
pursues a large, debt-funded acquisition or dividend
recapitalization.  If such a scenario causes the company's
FFO-to-debt ratio to weaken below 9% without any prospect for a
quick recovery, S&P could consider a downgrade.



MURRAY ENERGY: Moody's Cuts Corporate Family Rating to Caa1
-----------------------------------------------------------
Moody's Investors Service downgraded the ratings of Murray Energy
Corporation, including its corporate family rating (CFR) to Caa1
from B3, probability of default rating (PDR) to Caa1-PD from B3-PD,
first lien term loan rating to B2 from B1, and the rating on second
lien senior secured notes to Caa2 from Caa1. The outlook is
negative.

Issuer: Murray Energy Corporation

Downgrades:

-- Corporate Family Rating , Downgraded to Caa1 from B3

-- Probability of Default Rating, Downgraded to Caa1-PD from B3-
    PD

-- Senior Secured Bank Credit Facility, Downgraded to B2 (LGD2)
    from B1 (LGD2)

-- Senior Secured Regular Bond/Debenture, Downgraded to Caa2
    (LGD5) from Caa1 (LGD5)

Outlook Actions:

-- Outlook, Changed To Negative From Stable

RATINGS RATIONALE

The downgrade reflects our expectation that the company's cash flow
generation will be under additional stress due to the recent cut in
dividends by Foresight Energy GP LLC. Murray holds 50% of
Foresight's limited partner units, and MLP distributions were
expected to be a material contributor to cash generation prior to
the announcement. Effective November 2015, Foresight cut its
quarterly cash distribution to $0.17 per unit for common
unitholders from $0.35-$0.38 over the previous four quarters, while
suspending its distribution on all subordinated units, which are
held by Murray. This dividend cut will result in Murray receiving
no dividends for the quarter. If this dividend level by Foresight
remains in place, it would result in no annual distributions to
Murray, compared to our previous assumption of over $70 million.
Foresight cited the difficult business environment for coal for the
cut including, but not limited to, oversupply in virtually all
domestic and international basins, intense competition from natural
gas, and soft domestic utility demand. It is unclear when dividend
payout would return to prior levels.

The downgrade also reflects the recent deterioration in seaborne
and domestic coal prices, which we expect to persist, putting
pressure on average realizations over the next two years as higher
priced contracts roll off. We expect that the company's production
volumes will also be under pressure over the next two years, due to
the challenging industry conditions.

Coal consumption in the United States continues to be pressured by
low-cost natural gas (with Henry Hub prices persisting below $3.00
in the first ten months of 2015). While we believe Illinois Basin
coal to be generally more competitive due to its low cost, high
heat content and its customer base in larger baseload plants, it is
not immune to the larger trends affecting the US coal industry. We
believe that Murray's mines in Northern Appalachia will be even
more susceptible to weakening demand over the next two to three
years, as more natural gas capacity is added in the US East and
Marcellus shale production continues to grow. In addition to cheap
natural gas, EPA's recently issued Clean Power Plan will keep the
US coal industry in secular decline, and will have an impact across
all US basins. And while the Illinois Basin enjoys easy access to
the seaborne markets via Gulf Coast ports, persistent oversupply
and weak pricing will limit potential for exports.

Factors supporting the rating are market leadership in Northern
Appalachia (NAPP), operational diversity, solid contract positions,
low-cost longwall mines, low-cost barge and truck transportation to
power plants served, and adequate liquidity. Longer-term challenges
include managing what we continue to expect will be a difficult
environment in the coal industry, continuing to harmonize an
acquired workforce that is heavily unionized (from legacy CONSOL
mines) with an existing workforce that is largely non-union, and
avoiding unexpected cash outlays related to the legacy liabilities
acquired from CONSOL.

Moody's expects Murray to maintain adequate liquidity over the next
twelve months, which at September 30, 2015 included $282 million in
cash, and a little over $100 million of availability on their $225
million ABL facility maturing in December 2018. Murray's nearest
debt maturity is $244 million remaining under secured term loan due
in April 2017.

The negative outlook reflects our expectation that credit metrics
will continue to weaken over the next 12-18 months due to the
pressure on Murray's realized prices and volumes.

The ratings could be upgraded if free cash flows were expected to
be positive with Debt/ EBITDA, as adjusted, maintained below 6x.

A negative rating action would be considered if credit metrics and
liquidity were to continue to deteriorate.



NATIONAL CINEMEDIA: Posts $7.7 Million Net Income for Q3
--------------------------------------------------------
National Cinemedia, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
attributable to the Company of $7.7 million on $112 million of
revenue for the three months ended Oct. 1, 2015, compared to net
income attributable to the Company of $4.8 million on $101 million
of revenue for the three months ended Sept. 25, 2014.

For the nine months ended Oct. 1, 2015, the Company reported net
income attributable to the Company of $8.8 million on $310 million
of revenue compared to net income attributable to the Company of
$5.3 million on $271 million of revenue for the nine months ended
Sept. 25, 2014.

As of Oct. 1, 2015, the Company had $1 billion in total assets,
$1.23 billion in total liabilities and a $228 million total
deficit.

Commenting on the Company's third quarter operating results, Kurt
Hall, NCM's Chairman and CEO said, "Our business continued to
benefit from the structural changes that are reshaping the broader
media marketplace.  The Company's 27% Q3 2015 national revenue
growth over 2014, combined with an approximate 15% increase in our
national upfront commitments for calendar 2016, while the national
TV upfront was down, provided clear evidence that we are gaining
video advertising market share."

Mr. Hall continued, "The increase in our annual guidance for 2015
reflects higher than expected national inventory utilization,
continued CPM growth and a strong finish to the year by our local
business.  We also expect to benefit from a highly anticipated Q4
film slate that is anchored by several tent pole films, including
Star Wars."

Mr. Hall concluded, "I am very proud of our NCM team as 2015 will
represent a record year for each of our national and local
advertising businesses.  With great sales momentum coming out of
2015, the launch of more robust targeting and data analytics
products early next year and the expansion of our local sales
force, we are very well positioned for continued growth in 2016 and
beyond."   

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

                        http://is.gd/PvykRX
  
                      About National CineMedia

National CineMedia, Inc., is the holding company of National
CineMedia, LLC.  NCM LLC operates the largest digital in-theatre
network in North America, allowing NCM to distribute advertising,
Fathom entertainment programming events and corporate events under
long-term exhibitor services agreements with American Multi-Cinema
Inc., a wholly owned subsidiary of AMC Entertainment Inc.; Regal
Cinemas, Inc., a wholly owned subsidiary of Regal Entertainment
Group; and Cinemark USA, Inc., a wholly owned subsidiary of
Cinemark Holdings, Inc.  NCM LLC also provides such services to
certain third-party theater circuits under "network affiliate"
agreements, which expire at various dates.

                            *     *     *

As reported by the TCR on March 24, 2011, Standard & Poor's
Ratings Services raised its corporate credit ratings on
Centennial, Colorado-based National CineMedia Inc. and
operating subsidiary National CineMedia LLC (which S&P analyzes on
a consolidated basis) to 'BB-' from 'B+'.  "The 'BB-' corporate
credit rating reflects S&P's expectation that NCM's EBITDA growth
will enable the company to continue to de-lever over the
intermediate term despite its aggressive dividend policy," said
Standard & Poor's credit analyst Jeanne Shoesmith.


NEONODE INC: FMR LLC Reports 8.4% Stake as of Nov. 9
----------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, FMR LLC, Edward C. Johnson 3d and Abigail P. Johnson
disclosed that as of Nov. 9, 2015, they beneficially owned
3,697,341 shares of common stock of Neonode, Inc. representing
8.455% of the shares outstanding.  A copy of the regulatory filing
is available for free at http://is.gd/3D1Ewe

                        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.


NEPHROS INC: Incurs $581,000 Net Loss in Third Quarter
------------------------------------------------------
Nephros, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $581,000
on $320,000 of total net revenues for the three months ended Sept.
30, 2015, compared to net income of $2.72 million on $491,000 of
total net revenues for the same period during the prior year.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $2.15 million on $1.43 million of total net revenues
compared to a net loss of $6.12 million on $1.40 million of total
net revenues for the same period in 2014.

As of Sept. 30, 2015, the Company had $4.30 million in total
assets, $1.51 million in total liabilities and $2.79 million in
total stockholders' equity.

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

                       http://is.gd/9w7XqN

                           About Nephros

River Edge, N.J.-based Nephros, Inc., is a commercial stage
medical device company that develops and sells high performance
liquid purification filters.  Its filters, which it calls
ultrafilters, are primarily used in dialysis centers and
healthcare facilities for the production of ultrapure water and
bicarbonate.

Nephros reported a net loss of $7.37 million on $1.74 million of
total net revenues for the year ended Dec. 31, 2014, compared to
net income of $1.32 million on $1.74 million of total net revenues
for the year ended Dec. 31, 2013.

Withum Smith+Brown PC, in Morristown, New Jersey, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has incurred
negative cash flow from operations and recurring net losses since
inception.  These conditions, among others, raise substantial doubt
about its ability to continue as a going concern.


NEW DAWN ASSISTED: Files List of 20 Largest Unsecured Creditors
---------------------------------------------------------------
New Dawn Assisted Living Operating Company, LLC No. 24 filed with
the Bankruptcy Court a list of its 20 largest unsecured creditors
as follows:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
A Place for Mom, Inc.                                   $17,867

CenturyLink                                                $668

HD Supply Facilities Maintenance Ltd.                      $452

Hobart Service                                             $733

It's Never 2 Late                                          $375

Long Building Technologies Inc.                          $4,623

McKesson Medical                                         $4,789

Momentum Healthware                                      $9,344

Newco Door & Hardware LLC                                  $383

Ragsdale Professional Health PLLC                        $2,250

RealPage, Inc.                                             $605

Scentair Technologies, Inc.                                $699

Schryver Medical Inc.                                      $740

Senior Living Advisors LLC                               $4,122

SimplexGrinnell                                            $581

Staples Advantage                                        $1,006

Supplyworks                                              $1,903

Terri Kern                                                 $554

Tyco Integrated Security LLC                             $1,546

US Food Service, Inc.                                   $14,085

                    About New Dawn Assisted

New Dawn Assisted Living Operating Company, LLC sought Chapter 11
bankruptcy protection (Bankr. D. Ariz. Case No. 15-14558) on Nov.
13, 2015.  Dennis R. Haydon signed the petition as manager.  The
Debtor estimated both assets and liabilities in the range of $10
million to $50 million.  Gust Rosenfeld P.L.C. represents the
Debtor as counsel.  Judge Daniel P. Collins is assigned to the
case.


NEW DAWN ASSISTED: Hires Gust Rosenfeld as Attorneys
----------------------------------------------------
New Dawn Assisted Living Operating Company, LLC No. 24 sought and
obtained permission from the Bankruptcy Court to employ Gust
Rosenfeld P.L.C. as its attorneys to, among other things:

   (a) advise and assist the Debtor with respect to the
       obligations and limitations imposed on it as a debtor in
       bankruptcy;

   (b) advise the Debtor with respect to the continued operation
       of its business while in bankruptcy;

   (c) advise the Debtor with respect to the treatment of claims
       against its bankruptcy estate and the assumption or
       rejection of executory contracts;

   (d) prepare all pleadings and applications, and attend all
      hearings and examinations, necessary to proper
      administration of the Debtor's bankruptcy proceedings; and

   (e) advise and assist the Debtor in the formulation and
       presentation of a disclosure statement and plan of
       reorganization;

The Debtor told the Court Gust Rosenfeld is a disinterested party
and does not hold or represent an interest adverse to its
bankruptcy estate.

The Court allows the Debtor to pay Gust Rosenfeld for legal
services at the firm's customary hourly rates currently in the
range of $210 to $480.  No payment of legal fees and costs to GR
shall be made from property of the estate except upon application
and order of the Court.

Gust Rosenfeld's retention was approved effective as of Nov. 13,
2015.

                    About New Dawn Assisted

New Dawn Assisted Living Operating Company, LLC sought Chapter 11
bankruptcy protection (Bankr. D. Ariz. Case No. 15-14558) on Nov.
13, 2015.  Dennis R. Haydon signed the petition as manager.  The
Debtor estimated both assets and liabilities in the range of $10
million to $50 million.  Gust Rosenfeld P.L.C. represents the
Debtor as counsel.  Judge Daniel P. Collins is assigned to the
case.


NEW DAWN ASSISTED: Jennifer Giaimo is Substitute Counsel for UST
----------------------------------------------------------------
Upon the request of the United States Trustee for the District of
Arizona, the Bankruptcy Court terminated Patty Chan as counsel of
record for the UST and substituted Jennifer A. Giaimo as counsel of
record for the UST for the remainder of the case.

                    About New Dawn Assisted

New Dawn Assisted Living Operating Company, LLC sought Chapter 11
bankruptcy protection (Bankr. D. Ariz. Case No. 15-14558) on Nov.
13, 2015.  Dennis R. Haydon signed the petition as manager.  The
Debtor estimated both assets and liabilities in the range of $10
million to $50 million.  Gust Rosenfeld P.L.C. represents the
Debtor as counsel.  


NEW DAWN ASSISTED: Seeks Court Approval to Use Cash Collateral
--------------------------------------------------------------
New Dawn Assisted Living Operating Company, LLC No. 24 seeks
interim authority from the Bankruptcy court to use cash -- that may
be claimed as cash collateral -- for a period of approximately 90
days.  The Debtor intends to use cash to pay the ordinary and
necessary expenses of operating and maintaining its business
operations.

John A. Nasr, Esq. at Gust Rosenfeld P.L.C., attorney for the
Debtor, says "In order for the Debtor to continue its operations
and maintain value of its estate for the benefit of all creditors
and parties-in-interest during these bankruptcy proceedings, it is
necessary for the Debtor to use their cash-on-hand and the income
derived from post-petition operations to pay the Debtor's ordinary
and necessary operating expenses."

According to Mr. Nasr, it is crucial for the Debtor to have the use
of the income to operate and maintain its business operations in
order to protect the safety, health, and well-being of its patients
and to preserve its going-concern value while it formulates and
implements a plan of reorganization.

Mr. Nasr asserts that any purported interests in the Debtor's
income are adequately protected by the value generated through the
Debtor's continued operations.

                          Sabra Objects

Sabra Health Care Holdings III, LLC, as landlord, opposes to the
Debtor's request to use cash collateral as the Debtor does not
provide assurances of payment of its obligations under a lease
dated Sept. 20, 2012.  The Debtor leases and operates an assisted
living facility in Aurora, Colorado, which is owned by Sabra.

Sabra asserts that pursuant to the Lease, the Debtor granted to it
a security interest and express contractual lien upon all of
Debtor's right, title and interest in all of the Debtor's personal
property, accounts, and proceeds thereto.  Sabra tells the Court
that its security interest has been properly perfected through its
filing of a UCC in Nevada.

According to Sabra, the Debtor was in default under the Lease prior
to the Petition Date for failing to make its lease payments for the
months of September, October and November.

Sabra says it recognizes the need for the Debtor to utilize cash
collateral to preserve and maintain the estate.  However, Sabra
contends it is entitled to appropriate adequate protection of its
interests to the cash collateral.

The Landlord requests that the Court condition any interim
authorization for the Debtor to use cash collateral by providing
Sabra with a nine-month budget and the following adequate
protection (at a minimum):

   * requiring the Debtor to make timely payments in full under
     the Lease;

   * granting it post-petition replacement liens in accounts
     receivable and accounts, including cash collateral generated
     or received by the Debtor subsequent to the date of the
     filing of the petitions.

Sabra further requests that any order entered should only allow the
Debtor to use cash collateral for 30 days and only provide for
payment of expenses that are absolutely necessary for the
maintenance of the Debtor's business during the interim period in
order to minimize the projected operating deficiency.

The Debtor relates it has not had sufficient time to determine the
validity, priority, enforceability, or extent of any lien asserted
by Sabra, and expressly reserves its right to contest such lien or
otherwise object to any such liens.

Sabra is represented by:

      Richard M. Lorenzen, Esq.
      Bradley A. Cosman, Esq.
      PERKINS COIE LLP        
      2901 North Central Avenue, Suite 2000
      Phoenix, Arizona 85012-2788
      E-mail: RLorenzen@perkinscoie.com
             BCosman@perkinscoie.com

               - and -

      Jennifer Salisbury, Esq.
      MARKUS WILLIAMS YOUNG & ZIMMERMAN LLC
      1700 Lincoln Street, Suite 4000
      Denver, Colorado 80203-4505
      Tel: (303) 830-0800
      Fax: (303) 830-0809
      E-mail: jsalisbury@markuswilliams.com

                     About New Dawn Assisted

New Dawn Assisted Living Operating Company, LLC sought Chapter 11
bankruptcy protection (Bankr. D. Ariz. Case No. 15-14558) on
Nov. 13, 2015.  Dennis R. Haydon signed the petition as manager.
The Debtor estimated both assets and liabilities in the range of
$10 million to $50 million.  Gust Rosenfeld P.L.C. represents the
Debtor as counsel.  Judge Daniel P. Collins is assigned to the
case.

The Debtor is engaged in the business of providing skilled health
care services to patients that suffer from, among other things,
dementia and Alzheimer's disease.

The Debtor operates in Aurora, Colorado, and is owned and/or
controlled by New Dawn Assisted Living Holding Company, LLC located
in Arizona.


NEWLEAD HOLDINGS: Didn't Complete 2 Coal Supply Contracts
---------------------------------------------------------
NewLead Holdings Ltd. announced that the date of Jan. 17, 2014,
referenced in the first paragraph of the press release, distributed
on Sept. 29, 2015, providing an update on the Five Mile and Elk
Valley mines and coal supply contracts, should have been Jan. 17,
2013.

NewLead Holdings previously announced that it did not complete the
agreement to acquire the ownership and leasehold interests of the
Elk Valley mine and that it has not yet completed the acquisition
of the title and excavation rights of the Five Mile mine.  In
addition, the Company did not complete the two coal supply
contracts for the sale of coal to third parties, also as described
in such announcement.

                     About NewLead Holdings Ltd.

Based in Athina, Greece, NewLead Holdings Ltd. --
http://www.newleadholdings.com/-- is an international, vertically
integrated shipping company that owns and manages product tankers
and dry bulk vessels.  NewLead currently controls 22 vessels,
including six double-hull product tankers and 16 dry bulk vessels
of which two are newbuildings.  NewLead's common shares are traded
under the symbol "NEWL" on the NASDAQ Global Select Market.

Newlead reported a net loss attributable to the Company's
shareholders of $100 million on $12.6 million of revenues for the
year ended Dec. 31, 2014, compared to a net loss attributable to
the Company's shareholders of $158 million on $7.34 million of
revenues for the year ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $190 million in total assets,
$300 million in total liabilities, and a $110 million total
shareholders' deficit.

Cherry Bekaert LLP, in Charlotte, North Carolina, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has incurred
a net loss, has negative cash flows from operations, negative
working capital, an accumulated deficit and has defaulted under its
credit facility agreements resulting in all of its debt being
reclassified to current liabilities all of which raise substantial
doubt about its ability to continue as a going concern.


NNN MET CENTER: Taps Alan Sparks as Chief Restructuring Officer
---------------------------------------------------------------
NNN Met Center 15 39 LLC and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Northern District of California for
permission to:

     -- employ Alan Sparks through Gemma Companies LLC as their
chief restructuring officer and

     -- designate responsible individual for all purposes in their
Chapter 11 cases.

Mr. Spark will charge the Debtors $200 per hour, with reimbursement
for actual costs incurred, subject to approval of the Court.

The Debtors agreed that Mr. Sparks will receive a retainer of
$8,000 for his services to be rendered and costs incurred.  The
Debtors tell the Court that they borrowed the money from Virtua
Partners LLC.  After charging the Retainer for pre-petition
services rendered and costs incurred, Mr. Sparks holds the sum of
$5,004 for services to be rendered and costs to be incurred in
these Chapter 11 proceedings.

Mr. Sparks can be reached at:

   Alan Sparks
   Gemma Companies, LLC
   15849 N. 71st Street, Suite 100
   Scottsdale, AZ 85254
   Tel: (480) 607-5100
   Cel: (480) 540-2027
   Email: alan.sparks@gemmacompanies.com

                           About NNN Met

NNN Met Center 15 39 and 32 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. N.D. Calif. Lead Case No. 15-42359) on
July 31, 2015.  Alan Sparks signed the petitions as manager and
responsible individual.  NNN Met Center 15 39, LLC, disclosed
total assets of $32,003,866 and total liabilities of $28,143,523
as of the Petition Date.  

Judge William J. Lafferty presides over the cases.  The Law Offices
of Darvy Mack Cohan represents the Debtors as counsel.  Elkington
Shepherd LLP serves as their local counsel.

On Aug. 12, 2015, the Court, in its amended order approved the
joint  administration of the cases.


NNN MET: Seeks Interim OK to Use GECC Cash Collateral
-----------------------------------------------------
NNN Met Center 15 39, LLC, asks the U.S. Bankruptcy Court for the
Northern District of California for interim authority to use lender
General Electric Capital Corporation's cash collateral.

The Debtors own a commercial real property situated at 7301 Metro
Center Dr., in Austin, Texas.  The Real Property is currently
encumbered by a Loan originated by General Electric Capital
Corporation as a part of the syndication, in the amount of
$28,000,000, with a Maturity Date of September 1, 2012.

Since the Maturity Date, the Lender has been in possession and
control of all of the rental income and revenues from the Real
Property under a "Lockbox Agreement."  The Debtors believe that as
of July 1, 2015, the principal balance on the Loan was
approximately $23,538,261.  The Lender also took possession and
control of certain insurance proceeds derived from the prepetition
settlements of certain civil litigations, originally totaling
$2,272,459, which is specifically designated for the remediation of
the Real Property.

The Debtors propose to use the Lender's cash collateral pursuant to
the terms of a stipulation, which provides, in pertinent part, that
during the pendency of the Chapter 11 proceedings, and until
December 31, 2015, the Lender will continue to receive the rental
income and revenues from the Real Property under the Lockbox
Agreement, and to hold and administer the IP Reserve, but will fund
to NAS and the Debtors can use cash collateral pursuant to a
Operating Budget for only the current necessary, reasonable, and
ordinary expenses of the Debtors actually incurred after the
Petition Date, and will continue to fund, to the extent of the IP
Reserve, the ongoing remediation of the Real Property pursuant to
the Remediation Budget.

As adequate protection, the Lender will be granted, a replacement
lien on, and security interest in, all postpetition cash collateral
which will have the same priority, extent and validity as the
Lender's security interests or other interests in the cash
collateral used by the Debtor, and will be paid $153,059 per month,
to be applied to the Lender's Allowed Claim.  The replacement lien
does not extend to actions for preferences, fraudulent conveyances,
and other avoidance power claims and any recoveries under the
Bankruptcy Code.  Should the payment and replacement lien be later
determined inadequate, the Lender will be entitled to the
superpriority afforded by the Bankruptcy Code to the extent of any
such deficiency and as determined by the Court.

The Debtors tell the Court that an immediate need exists for the
Debtors to be able to use the Cash Collateral in order to pay the
necessary costs and expenses of owning and operating the Real
Property, including insurance, utility charges, cleaning services,
landscaping, maintenance, repairs, HVAC, security fire monitoring,
pest control, etc., and the Debtors will not be able to purchase
necessary products and services.

Without the authorization on an interim basis, the Debtors will not
be able to continue their operations, thereby causing immediate and
irreparable harm to their assets.  Furthermore, if the Debtors'
tenants are not receiving their bargained-for services, they may
leave.

The Debtors are represented by:

         Darvy Mack Cohan, Esq.
         7855 Ivanhoe Avenue, Suite 400
         La Jolla, California 92037
         Telephone Number (858) 459-4432
         Facsimile Number (858) 454-3548
         Email: dmc@cohanlaw.com

           -- and --

         Sally J. Elkington, Esq.
         James A. Shepherd, Esq.
         ELKINGTON SHEPHERD LLP
         409 - 13th Street, 10th Floor
         Oakland, California 94612
         Telephone Number (510) 465-0404
         Facsimile Number (510) 465-0202
         Email: Sally@ElkingtonLaw.com
                Jim@ElkingtonLaw.com

                     About NNN Met

NNN Met Center 15 39 and 32 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. N.D. Calif. Lead Case No. 15-42359) on
July 31, 2015.  Alan Sparks signed the petitions as manager and
responsible individual.  NNN Met Center 15 39, LLC, disclosed total
assets of $32,003,866 and total liabilities of $28,143,523 as of
the Petition Date.  

Judge William J. Lafferty presides over the cases.  The Law Offices
of Darvy Mack Cohan represents the Debtors as counsel.  Elkington
Shepherd LLP serves as their local counsel.

On Aug. 12, 2015, the Court, in its amended order approved the
joint administration of the cases.

Creditors have until Oct. 30, 2015, to file proofs of claim against
the Debtors.


OIC RUN-OFF LIMITED: Court Directs Joint Administration of Cases
----------------------------------------------------------------
The U.S. Bankruptcy Court Southern District of New York entered an
order directing the joint administration of the bankruptcy cases of
OIC Run-Off Limited and The London & Overseas Insurance Company
Limited under Lead Case No. 15-13054.

                          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. Lead
Case Nos. 15-13054) 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.


OLYMPIC PROPERTY: Involuntary Chapter 11 Case Summary
-----------------------------------------------------
Alleged Debtor: Olympic Property Partners, LLC
                c/o Stephen Chalk 6 Pilgrim Road
                Scarsdale, NY 10583

Case Number: 15-23658

Nature of Business: Developer

Involuntary Chapter 11 Petition Date: November 19, 2015

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

Judge: Hon. Robert D. Drain

Petitioner's Counsel: Lawrence Morrison, Esq.
                      MORRISON TENENBAUM PLLC
                      87 Walker St #2, New York, NY 10026
                      Tel: (212) 620-0938

   Petitioner                   Nature of Claim  Claim Amount
   ----------                   ---------------  ------------
Concrete Capital, LLC          Loan Modification   $3,153,878
257 West 117th Street
New York, NY 10026


OSPREY VILLAGE: Tranzon to Sell Property on December 9
------------------------------------------------------
Tranzon Auction will sell the property owned by Osprey Village
Development Company Inc. located at 135 Bayview Dr. in Osprey,
Florida.

Sealed bids for the Debtor's property must be filed no later than
11:00 a.m. on Dec. 9, 2015.  The auction will take place at the
offices of R. John Cole, II, & Associates, P.A. 46 N. Washington
Blvd., Suite 24 Sarasota, FL 34236.

Additional information on the auction process:

     a) Buyers Premium: 7% Buyers Premium based on the high bid.

     b) Closing: Within 20 days of the auction, or within 10 days
of court approval, whichever occurs later, sold in As-Is condition,
no contingencies.

     c) Deposit Amount: $100,000 cashier’s check. Balance of 10%
deposit due via wire transfer to the escrow agent within 24 hrs. of
being named high bidder.

     d) Broker Co-op: 2% of the high bid will be paid to a properly
registered broker at settlement.

Interested buyers may contact:

   Tranzon Driggers
   Jon Barber, CAI
   Tel: 877-374-4437
   Email: jbarber@tranzon.com

Osprey Village Development Company, Inc., filed for Chapter 11
bankruptcy on March 30, 2015 (Bankr. M.D. Fla. Case No. 12-04775).
Allan C. Watkins, Esq., at Watkins Law Firm, PA, represents the
Debtor.


PHOENIX INDUSTRIAL: S&P Reinstates 'D' Rating on 2013 Rev. Bonds
----------------------------------------------------------------
Standard & Poor's Ratings Services has reinstated its 'D' rating on
the Industrial Development Authority of the City of Phoenix,
Ariz.'s series 2013 solid waste disposal facilities revenue bonds.


This action follows the lowering of the rating to 'D' from 'CCC' on
Oct. 4, 2015, and subsequent withdrawal of the rating.  S&P will
continue to monitor the ongoing litigation and will update the
rating as warranted.



PLEASE TOUCH: U.S. Trustee Withdraws Objection to Isdaner Hiring
----------------------------------------------------------------
Andrew R. Vara, Assistant U.S. Trustee for Region 3, notified the
U.S. Bankruptcy Court for the Eastern District of Pennsylvania that
it has withdrawn his limited objection to Please Touch Museum's
application to employ Isdaner LLP as tax advisor and auditor.

As reported by The Troubled Company Reporter on Nov. 10, 2015,
James Hamlet, CPA, a member of Isdaner & Company LLC, filed a
declaration in support of the Debtor's application to employ
Isdaner as tax advisor and auditor, disclosing payments it received
from the Debtor.

Isdaner stated that the firm received a payment of $2,000 from the
Debtor on Sept. 10, 2015.  Isdaner received no other payments from,
or relating to, the Debtor in the 90 day period prior to the
Petition Date.  Isdaner is not owed any amount by the Debtor as of
the filing of the debtor's bankruptcy petition.

Andrew R. Vara, Acting U.S. trustee for Region 3, filed a limited
objection to the Debtor's motion, stating that Isdaner did not
disclose what amounts were paid when for what prepetition services
were rendered when.  Hence, there is not sufficient disclosure by
Isdaner to enable the court and parties-in-interest to perform the
required analysis of the application, the U.S. Trustee complained.

As reported by the TCR on Sept. 21, 2015, the Debtor also requested
that Isdaner perform primarily non-bankruptcy-related services that
the Debtor will require during the course of its Chapter 11 case.

The Debtor related that prior to the Petition Date, Isdaner
provided tax, financial compilation, and audit services to it.
These services have generally related to financial processes and
controls related to the Debtor's operations and preparation of
annual (audit) financial statements.

Isdaner will advise it and its management with respect to:

   (a) completion of the audit of its financial statements for the
       year ending Sept. 30, 2015, and subsequent periods;

   (b) preparation of Form 990's for current and subsequent
       periods; and

   (c) general tax and accounting services.

Isdaner will be compensated at its standard hourly rates, not to
exceed $43,000 for the audit and not to exceed $7,000 in the
aggregate for the preparation of Form 990 and Form BCO-10 (state
and federal returns).  

The Debtor proposes to reimburse Isdaner for the necessary expenses
that it incurred.

The Debtor assures the Court that Isdaner does not represent or
hold any interest adverse to it or its estate with respect to the
matters for which Isdaner is to be employed.  

Isdaner maintains an office at 3 Bala Paza, Suite 501 West, Bala,
Cynwyd, Pennsylvania.

                     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.


PLUG POWER: Incurs $10.2 Million Net Loss in Third Quarter
----------------------------------------------------------
Plug Power Inc. filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss
attributable to common shareholders of $10.2 million on $31.4
million of total revenue for the three months ended Sept. 30, 2015,
compared to a net loss attributable to common shareholders of $9.37
million on $19.9 million of total revenue for the same period
during the prior year.

For the nine months ended Sept. 30, 2015, the Company recorded a
net loss attributable to common shareholders of $30.6 million on
$64.9 million of total revenue compared to a net loss attributable
to common shareholders of $81.5 million on $42.8 million of total
revenue for the same period a year ago.

As of Sept. 30, 2015, the Company had $205 million in total assets,
$54.8 million in total liabilities, $1.15 million in Series C
redeemable convertible preferred stock and $149 million in total
stockholders' equity.

"In January, I clearly stated the goals that Plug Power intended to
achieve in 2015," said Andy Marsh, CEO of Plug Power.  "I also
outlined the timeframes in which we expected to achieve them.  I am
pleased with Plug Power's execution in the business, and the fact
that we have stayed on track and are on pace to achieve the goals
and milestones laid out at the beginning of the year. Additionally,
in the fourth quarter, we are on track for a third straight quarter
of record revenues, a strong indicator of the attractiveness of
Plug Power's offering."

Net cash used in operating activities for the third quarter 2015
was $13 million which stems from the ongoing investment in the
Company's increased commercial activity, as well as incremental
investment in working capital given the inventory build activity
for fourth quarter programs.  Plug Power had cash, cash equivalents
and restricted cash of $115.2 million and net working capital of
$110 million at Sept. 30, 2015.

                        Bankruptcy Warning

"Our cash requirements relate primarily to working capital needed
to operate and grow our business, including funding operating
expenses, growth in inventory to support both shipments of new
units and servicing the installed base, funding the growth in our
GenKey "turn-key" solution which also includes the installation of
our customer's hydrogen infrastructure as well as delivery of the
hydrogen molecule, and continued development and expansion of our
products.  Our ability to achieve profitability and meet future
liquidity needs and capital requirements will depend upon numerous
factors, including the timing and quantity of product orders and
shipments; attaining positive gross margins; the timing and amount
of our operating expenses; the timing and costs of working capital
needs; the timing and costs of building a sales base; the ability
of our customers to obtain financing to support commercial
transactions; our ability to obtain financing arrangements to
support the sale or leasing of our products and services to
customers and the terms of such agreements which may require us to
pledge or escrow substantial amounts of our cash to support these
financing arrangements; the timing and costs of developing
marketing and distribution channels; the timing and costs of
product service requirements; the timing and costs of hiring and
training product staff; the extent to which our products gain
market acceptance; the timing and costs of product development and
introductions; the extent of our ongoing and new research and
development programs; and changes in our strategy or our planned
activities.  If we are unable to fund our operations with positive
cash flows and cannot obtain external financing, we may not be able
to sustain future operations.  As a result, we may be required to
delay, reduce and/or cease our operations and/or seek bankruptcy
protection," the Company states in the report.

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

                        http://is.gd/OiUlmO

                         About Plug Power

Plug Power Inc. is a provider of alternative energy technology
focused on the design, development, commercialization and
manufacture of fuel cell systems for the industrial off-road
(forklift or material handling) market.

Plug Power reported a net loss attributable to common shareholders
of $88.6 million on $64.2 million of total revenue for the year
ended Dec. 31, 2014, compared to a net loss attributable to common
shareholders of $62.8 million on $26.6 million of total revenue for
the year ended Dec. 31, 2013.


QUANTUM FUEL: Reports Third Quarter 2015 Financial Results
----------------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc., reported a net
loss attributable to stockholders of $4.83 million on $9.45 million
of total revenues for the three months ended Sept. 30, 2015,
compared to a net loss attributable to stockholders of $5.20
million on $6.61 million of total revenues for the same period in
2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss attributable to stockholders of $12.3 million on $29.3
million of total revenues compared to a net loss attributable to
stockholders of $10.6 million on $21.1 million of total revenues
for the same period during the prior year.

The Company's backlog of product orders was $15.2 million at
Sept. 30, 2015, as compared to $17.8 million at Dec. 31, 2014.

"We are pleased by the successful launches during the quarter of
our next generation of product offerings that take advantage of our
latest storage technology and system designs, especially our higher
capacity back-of-cab family offerings that we believe include the
highest storage capacity system currently available in the market,"
said Brian Olson, president and CEO of Quantum. "Although
prevailing fuel prices are creating headwinds for near term growth
for natural gas heavy duty trucking, we believe the investments we
are making to bring forth the most cost efficient and innovative
products to market, to build out production capacity, and to
establish installation and service centers, is enabling us to
establish infrastructure from which we can grow our systems
business for many years to come," concluded Mr. Olson.

A full-text copy of the press release is available for free at:

                        http://is.gd/pZmIp0

                         About Quantum Fuel

Lake Forest, Cal.-based Quantum Fuel Systems Technologies
Worldwide, Inc. (Nasdaq: QTWW) develops and produces advanced
vehicle propulsion systems, fuel storage technologies, and
alternative fuel vehicles.  Quantum's portfolio of technologies
includes electronic and software controls, hybrid electric drive
systems, natural gas and hydrogen storage and metering systems and
other alternative fuel technologies and solutions that enable fuel
efficient, low emission, natural gas, hybrid, plug-in hybrid
electric and fuel cell vehicles.

Quantum Fuel reported a net loss of $14.9 million in 2014, a net
loss attributable to stockholders of $23.0 million in 2013, a net
loss attributable to stockholders of $30.9 million in 2012 and a
net loss attributable to common stockholders of $38.5 million in
2011.


QUEST IMPERIAL: Case Summary & 11 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Quest Imperial, LLC
        53 Hackensack Plank Rd
        Weehawken, NJ 07086

Case No.: 15-31753

Chapter 11 Petition Date: November 19, 2015

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Hon. John K. Sherwood

Debtor's Counsel: David L. Stevens, Esq.
                  SCURA, WIGFIELD, HEYER & STEVENS LLP
                  1599 Hamburg Turnpike
                  Wayne, NJ 07470
                  Tel: 973-696-8391
                  Email: dstevens@scuramealey.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Munish Sawhney, managing member.

A list of the Debtor's 11 largest unsecured creditors is available
for free at http://bankrupt.com/misc/njb15-31753.pdf


QUEST SOLUTION: 2 Units Ink SAS Agreement with Faunus Group
-----------------------------------------------------------
Two wholly-owned subsidiaries of Quest Solution, Inc. -- Quest
Marketing, Inc., and Bar Code Specialties, Inc., entered into a
Sale of Accounts and Security Agreement with Faunus Group
International, Inc., to establish a sale of accounts facility,
whereby Sellers may offer to sell their accounts receivable to FGI
each month during the term of the SAS Agreement, up to a maximum
amount outstanding at any time of $15,000,000.  Performance of
Sellers' obligations under the SAS Agreement is secured by a
security interest in all of Sellers' assets.  FGI funded the FGI
Facility and closed the transaction contemplated under the SAS
Agreement on Nov. 6, 2015.

The SAS Agreement has an initial term of 36 months and will be
extended automatically for an additional one year for each
succeeding term unless written notice of the termination is given
by either party at least 45 days, but not more than 90 days, prior
to the end of the Original Term or any extension thereof.  In the
event Sellers terminate the SAS Agreement within 18 months
following the commencement of the SAS Agreement, Sellers will be
required to pay FGI an early termination fee in the amount of
$450,000.  In the event that Sellers terminate the SAS Agreement
after the first 18 months, but prior to the end of the Original
Term or any extension thereof, Sellers shall pay to FGI an early
termination fee in the amount of $225,000.  FGI may terminate the
Agreement at any time by giving not less than 60 days' notice in
which event, Sellers will not be required to pay any termination
fee.

Pursuant to the FGI Facility, FGI can elect to purchase all of
Seller's right, title and interest in and to certain eligible
accounts.  The interest rate on advances or borrowings under the
FGI Facility will be the greater of (i) 5.50% per annum and (ii)
2.25% per annum above the prime rate, which shall be an annual
rate, for any day, equal to (x) the prime rate for U.S. banks as
published in The Wall Street Journal, or (y) if The Wall Street
Journal, ceases to publish a prime rate, the average of the prime
rates announced by the three largest U.S. money center commercial
banks as determined by FGI.

Sellers also agreed to pay to FGI monthly collateral management
fees of 0.37% per month of the original face amount of each
Purchased Account for the period commencing upon the invoice date
with respect to such Purchased Account while such Purchased Account
is open on FGI's books.  Additionally, Sellers paid FGI a one-time
facility fee in an amount equal to 1.0% of the FGI Facility upon
entry into the SAS Agreement.

The SAS Agreement includes customary representations and warranties
and default provisions for transactions of this type, and is
subject to customary closing conditions.

Pursuant to the terms of the SAS Agreement, each of the Company,
Viascan Group Inc., a Canadian corporation, Quest Exchange Ltd., a
Canadian corporation, and certain Affiliates of each party entered
into Guaranty Agreements to guaranty the Sellers' performance of
the obligations under the SAS Agreement. Additionally, in
connection with Sellers' entry into the SAS Agreement, and to
induce FGI to establish the FGI Facility, FGI and certain of the
Company's debt holders entered into Subordination Agreements, which
provide that the payment of any and all Subordinated Debt is
subordinated to Sellers' obligations under the FGI Facility.
Finally, certain officers and Affiliates of the Company entered
into certain Guaranty of Validity; Covenant Against Direct
Collection; Subordination and Security Agreements with FGI in order
to, in part, guarantee the representations, warranties and
covenants made by the Sellers under the SAS Agreement.

                        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.


QUEST SOLUTION: Amends Settlement Agreement with Former President
-----------------------------------------------------------------
Quest Solution, on Aug. 27, 2015, entered into an Omnibus
Settlement Agreement with its former President, Kurt Thomet.  Under
the terms of the Settlement Agreement, the Company was required to
pay Thomet $7,036,000 as full satisfaction for two promissory notes
held by Thomet by Sept. 30, 2015.

Related to the Company's entry into the FGI Facility and
acquisition of ViascanQData, which occurred after Sept. 30, 2015,
the Company was unable to make those payments to Thomet and was
required to amend the terms of the Settlement Agreement.

On Oct. 19, 2015, the Company and Thomet entered into that certain
First Amendment to the Omnibus Settlement Agreement, which modified
the payment schedule under the Settlement Agreement.

Due to a delay in the funding of the FGI Facility, Thomet and the
Company agreed to postpone payments due under the Settlement
Agreement Amendment.  The Company made certain of its required
payments to Thomet on Nov. 5, 2015.

Concurrent with Settlement Agreement Amendment, Thomet also
executed a Subordination Agreement with FGI, which provided that
the payment of any and all Subordinated Debt (as defined in the
Settlement Agreement) is subordinated to the obligations of the
Company to FGI in connection with the FGI Facility and the SAS
Agreement.

                        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.


QUEST SOLUTION: Closes Acquisition of ViascanQData
--------------------------------------------------
Quest Solution entered into an Acquisition Agreement, effective as
of Oct. 1, 2015, but which closed on Nov. 6, 2015, simultaneous
with the closing of the SAS Agreement with FGI, among the Company,
Quest Exchange, Ltd., a Canadian corporation and a wholly-owned
subsidiary of the Company, Viascan Group, Inc., a Canadian
corporation, and ViascanQData, Inc. a Canadian corporation.

Pursuant to the terms of the Acquisition Agreement, the Company
acquired all of the issued and outstanding common shares of
ViascanQData from Viascan Group, the sole shareholder of
ViascanQData, in exchange for the issuance of 5,200,000
exchangeable shares of Quest Exchange, and two subordinated
promissory notes in the principal amounts of $1,000,000 and
$500,000, respectively.  Each exchangeable share of Quest Exchange
is exchangeable into one share of the Company's common stock at the
election of Viascan Group or, in certain circumstances, of the
Company.

The Acquisition Agreement includes customary representations and
warranties and default provisions for transactions of this type,
and is subject to customary closing conditions.  The closing of the
transactions contemplated by the Acquisition Agreement and the
acquisition of all of the issued and outstanding shares of
ViascanQData occurred on Nov. 6, 2015.

In connection with the closing of the Acquisition Agreement, the
Company also entered into the following agreements, each of which
are effective as of Oct. 1, 2015:

Exchangeable Share Support Agreement

The Company entered into an Exchangeable Share Support Agreement
with Quest Exchange, whereby the Company agreed, among other
things:

   (a) not to declare or pay dividends on shares of the Company's
       common stock without simultaneously declaring or paying an
       equivalent dividend on the exchangeable shares of Quest
       Exchange;
       
   (b) to take all actions as are reasonably necessary to permit
       Quest Exchange to pay and otherwise perform its obligations

       under the Exchangeable Share Support Agreement;
       
   (c) to reserve such number of shares of the Company's common
       stock as is equal to the number of exchangeable shares of
       Quest Exchange issued and outstanding from time to time;
       and
       
   (d) to issue and deliver to Quest Exchange the requisite number
       of shares of the Company's common stock upon the retraction
       or redemption of the exchangeable shares of Quest Exchange,
       as the case may be, in accordance with their terms.

Voting and Exchange Agreement

The Company entered into a Voting and Exchange Agreement among the
Company, Quest Exchange and Viascan Group, whereby the Company
agreed to, among other things, issue to Viascan Group a special
voting share of the Company in order to enable Viascan Group to
execute certain voting and exchange rights from time to time of the
exchangeable shares of Quest Exchange.

Employment Agreements

Concurrent with the closing of the Acquisition Agreement, and
effective as of Oct. 1, 2015, the Company entered into Employment
Agreements with the following former employees of Viascan Group:

  * Gilles Gaudreault;
    
  * Jean-Paul Chartier;
    
  * Denis Kurdi; and
    
  * Bertrand Martelle.

The Employment Agreements provide for a base salary for each of the
Employees, in addition to one-time sign-on or performance bonuses,
as well as customary confidentiality, non-solicitation,
non-disparagement and cooperation provisions.

                       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.




QUEST SOLUTION: Satisfies $747K Wells Fargo Debt
------------------------------------------------
Wells Fargo Bank, National Association, accepted full payment of
all obligations of Quest Solution and its subsidiaries (the
"Borrowers") under that certain Credit Agreement, dated Dec. 31,
2014, as amended from time to time, terminated the Existing Credit
Agreement and released Wells Fargo's security interests in Sellers'
collateral.  The Borrowers paid to Wells Fargo $746,930
representing payment for all unpaid principal, interest, fees,
costs and expenses under the Existing Credit Agreement, as well as
funds for additional reserves.

Notwithstanding the pay-out of Wells Fargo with respect to the
amounts owed under the Existing Credit Agreement, Wells Fargo will
continue to offer Borrowers, on an interim basis, depository
account services and treasury management products.  Further,
Borrowers will continue to maintain in effect a letter of credit
number with Wells Fargo, issued by Wells Fargo in favor of
Barrington Bank & Trust Company, pursuant to the terms of the
Existing Credit Agreement and any letter of credit agreement
entered into between Wells Fargo and Borrowers.

                        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.


QUEST SOLUTION: Signs Various Agreements with Investors
-------------------------------------------------------
Quest Solution, on Sept. 28, 2015, entered into that certain Notice
and Offer of Settlement under an Amended and Restated Secured
Subordinated Convertible Promissory Note with George Zicman, an
investor and employee of the Company, pursuant to which Zicman
agreed to settle debt obligations with the Company of approximately
$1,617,000 in exchange for (i) 1,000,000 shares of restricted
common stock at $0.357 per share, (ii) a fixed payment of $50,000
per month, beginning Jan. 15, 2016, with a balloon payment due
April 15, 2017, at 1.89%, expected to be approximately $426,500,
and (iii) within 30 days of the Zicman Settlement Agreement, a
payment of $84,000.

On Oct. 1, 2015, the Company and Jason Griffith entered into that
certain Stock Redemption Agreement, pursuant to which the Company
redeemed from Griffith (i) 500,000 shares of the Company's Series A
Preferred Stock, par value $0.001 per share, and (ii) certain stock
options to purchase up to 3,400,000 shares of the Company's common
stock at $0.50 per share, in exchange for a promissory note in the
principal amount of $3,120,000, (x) $1,500,000 of which will be
paid at the earlier closing of the FGI Facility or
Dec. 15, 2015, and (y) the remaining $1,620,000.00 to be paid
monthly beginning Feb. 1, 2016, and due Feb. 1, 2020.

The Griffith Promissory Note bears interest at a rate of 6.0%
annually, and upon an Event of Default (as defined in the Griffith
Promissory Note), would be convertible into shares of fully paid
and nonassessable common stock of the Company.  The indebtedness
evidenced by the Griffith Promissory Note is subordinated, to the
extent and in the manner set forth in the Griffith Promissory Note,
in right of payment to the prior payment in full of all of
Company's Senior Indebtedness.

In connection with the Stock Redemption Agreement and Griffith
Promissory Note, the Company and Griffith entered into that certain
Security Agreement, pursuant to which the Company granted in favor
of Griffith a security interest in the Collateral (as defined in
the Security Agreement).  Pursuant to the terms of the Security
Agreement, Griffith granted to the Collateral Agent (as defined in
the Security Agreement), a continuing lien and security interest in
and to all of Griffith's right, title and interest in the Griffith
Stock Options.

On Oct. 8, 2015, the Company entered into that certain Second
Amendment to Secured Subordinated Convertible Promissory Note with
David Marin, an investor and employee of the Company, pursuant to
which the Company and Marin agreed to modify the payment schedule
of Marin's secured subordinated convertible promissory note, dated
Nov. 21, 2014, in the original principal amount of $11,000,000.
Under the terms of the Second Amendment, the Company agreed to pay
to Marin $100,000 within five business days' of the signing of the
Second Amendment and, upon the closing of one or more financings by
the Company that raise in the aggregate $10,000,000 (not including
the FGI Facility), a $1,000,000 payment toward the Marin Note.  The
Second Amendment further modified the payment schedule of the Marin
Note, providing for Maximum Payments and True-Up Payments (as those
terms are defined in the Second Amendment) to Marin, contingent
upon the occurrence of the Company’s regular monthly payments.
Due to a delay in the funding of the FGI Facility, Marin and the
Company agreed to postpone payments due under the Second Amendment,
which were made by the Company to Marin on Nov. 9, 2015.

                         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.


QUEST SOLUTION: Thomas Miller Quits as CEO
------------------------------------------
Thomas O. Miller, Quest Solution's current chief executive officer,
president and chairman of the Board of Directors, resigned from his
position as chief executive officer, effective Oct. 1, 2015. Mr.
Miller will remain as the Company's president and chairman of the
Board.

The Company and Mr. Miller previously entered into that certain
Employment Agreement, dated May 1, 2015, as amended by that certain
First Amendment to Employment Agreement, dated Sept. 3, 2015, which
set forth the terms and conditions of Mr. Miller's employment,
including, among other things, Mr. Miller's title, salary, bonuses
and termination and severance provisions.

Effective Oct. 1, 2015, the Miller Employment Agreement was further
amended to delete Mr. Miller's existing title as chief executive
officer.

Simultaneous with the resignation of Mr. Miller as chief executive
officer and pursuant to the terms of the Acquisition Agreement,
Gilles Gaudreault, was appointed as the Company's chief executive
officer, effective Oct. 1, 2015.  Mr. Gaudreault, age 58, has
significant experience as a senior manager, member of executive
committees and as an owner of various corporations involved in
industrial and high technology sectors, and has extensive knowledge
of strategic planning, logistics, finance, IPOs and other
specialized financings.  Since 2007, Mr. Gaudreault has acted as
the president and chief executive officer of L2g Advisory Services,
Inc., a company involved in upper management coaching for mid-size
corporations.  Since 2013, Mr. Gaudreault has acted as the chief
executive officer of the Shareholder, which specializes in data
collection and management, including software design, hardware
resales and manufacturing of labels and ribbons for various
applications.  Mr. Gaudreault attended Collège Bois-de-Boulogne
from 1977-1980, receiving a degree in administration, the
Université du Quebec a Montreal from 1982-194, receiving a degree
in finance, and has received other professional certificates from
Dawson College and McGill College.

Simultaneous with Mr. Gaudreault's appointment as chief executive
officer of the Company, the Company and Mr. Gaudreault entered into
an Employment Agreement, effective as of Oct. 1, 2015.  The
Gaudreault Employment Agreement has an initial term of two years,
which Gaudreault Term will automatically renew for one year
periods.  Mr. Gaudreault's employment with the Company shall
continue until the earlier of (i) the end of the Gaudreault Term,
or (ii) until Mr. Gaudreault's cessation of employment with the
Company for any reason or without reason.  Mr. Gaudreault's initial
base salary shall be $200,000 per year. Mr. Gaudreault shall
receive (i) a one-time sign-on bonus of 100,000 shares of
restricted common stock and (ii) a performance bonus based on the
Company's operational and financial performance.

During the Gaudreault Employment Period, Mr. Gaudreault's
employment with the Company shall be at-will and may be terminated
by either the Company or Gaudreault at any time, and for any
reason.

                         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.


QUICK CASH: Court Allows "Tullie" Class Claim
---------------------------------------------
In a Memorandum Opinion and Order dated November 10, 2015, which is
available at http://is.gd/erFJeRfrom Leagle.com, Judge Robert H.
Jacobvitz of the United States Bankruptcy Court for the District of
New Mexico granted Caroline Tullie's Motion to Allow Class Proofs
of Claim, to Apply Fed. R. Bankr.P. 7023 to the Claims Allowance
and Disallowance Procedure and to Implement a Schedule for
Certifying Class Claims and the Consumer Claimants' Committee's
Motion to Apply Fed. R. Bankr.P. 7023 to the Claims Allowance and
Disallowance Process and to Implement a Schedule for Certifying
Class Claims, to the extent they seek a determination that class
proofs of claim are permissible in bankruptcy.

The Debtor, Quick Cash, Inc., and its secured lender, Superior
Fabrication, Inc., objected to the Motions.

Judge Jacobvitz also ordered that the first four factors the Court
considers to determine whether to apply Rule 7023 to allow the
filing of a class proof of claim in the case weigh in favor of
allowing Ms. Tullie to file a class proof of claim.  The fifth
factor requires the Court to assess the impact of allowing a class
proof of claim on the reorganization prospects and the benefit or
detriment to other creditors.  Further evidence on this factor is
required before the Court can rule on the pending Motions.

The case is In re: QUICK CASH, INC., a New Mexico corporation,
Debtor, NO. 11-15-11800 JA (Bankr. D.N.M.).

Quick Cash, Inc., a New Mexico corporation, Debtor, represented by
Daniel J. Behles, Esq. -- dbehles@swcp.com -- Moore, Berkson,
Bassan & Behles P.C..

Unsecured Creditors Committee of Quick Cash, Inc., Creditor
Committee, represented by Christopher M. Gatton, Esq. --
chris@giddenslaw.com -- Law Office of George Dave Giddens, PC,
George D. Giddens Jr., Esq. -- dave@giddenslaw.com -- H Jesse
Jacobus III, Esq. -- JJacobus@giddenslaw.com -- Law Office of
George "Dave" Giddens, P.C, Denise J. Trujillo, Esq. --
djtrujillo@giddenslaw.com -- George Giddens, PC.


REMINGTON OUTDOORS: Moody's Cuts Corporate Family Rating to Caa1
----------------------------------------------------------------
Moody's Investors Service downgraded Remington Outdoor Company,
Inc.'s Corporate Family Rating to Caa1 from B2 due to its weak
operating performance and credit metrics, including high leverage.
The downgrade also reflects Moody's expectation that Remington's
operating performance will not meaningfully improve in the next
year or two. The rating outlook is stable.

"Despite our expectation of a modest increase in revenue and
earnings next year, we think debt/EBITDA will remain over 10 times
and EBIT/interest will stay below one times," said Kevin Cassidy,
Senior Credit Officer at Moody's Investors Service. Revenue dropped
almost 25% in Q3 2015 and is down around 20% in the first nine
months of 2015. "We think revenue will continue falling in Q4 2015
versus Q4 2014 and will remain below $850 million for the next
couple of years," said Cassidy.

Ratings downgraded:

Corporate Family Rating to Caa1 from B2;

Probability of Default Rating to Caa1-PD from B2-PD;

$580 million secured term loan due April 2019 to B3 (LGD 3) from B2
(LGD 3);

$250 million secured notes due May 2020 to Caa2 (LGD 5) from Caa1
(LGD 5);

Rating affirmed:

Speculative grade liquidity rating at SGL 2

RATINGS RATIONALE

Remington Outdoors' Caa1 Corporate Family Rating reflects its weak
credit metrics, modest size with revenue around $800 million,
volatility in demand, narrow product focus in firearms, ammunition
and related areas and exposure to raw material commodity prices
(i.e., copper and lead). Moody's expects debt/EBITDA to remain over
15 times for the next couple of quarters, but approach 10 times by
the end of 2016. While Moody's anticipates a sizeable improvement
in EBIT in 2016, it will still remain well below adjusted interest
expense of about $60 million. Moody's expects revenue to remain
below $900 million for the next few years. Ratings benefit from a
good liquidity profile over the next 12-18 months, strong brand
recognition of operating companies such as Remington Arms and
Bushmaster, an expanding base of firearm enthusiasts, solid market
share and a demonstrated commitment by its financial sponsors.

The stable outlook reflects Moody's expectation that Remington's
operating performance will not significantly further deteriorate in
the short-term.

If revenue and earnings don't stabilize next year, ratings could be
downgraded. Ratings could also be downgraded if liquidity
materially declines or if leverage doesn't begin to recede. Key
credit metrics that could prompt a downgrade are: debt/EBITDA
remaining well above 10 times beyond 2016 or EBIT/interest staying
below 1 time for a prolonged period.

The company needs to materially improve its operating performance
before an upgrade is considered. Key credit metrics that could
prompt an upgrade over the longer term are: debt/EBITDA approaching
8 times and EBIT/interest moving towards 1 time.

Remington Outdoors is a supplier of firearms, ammunition and
related products with leading market positions across its major
product categories. The company designs, manufactures, and markets
a broad product line which services the hunting, shooting sports,
law enforcement and military end-markets under recognized brands
including Remington, Marlin, Bushmaster, and DPMS/Panther Arms,
among others. Revenue for the twelve months ended September 30,
2015, approximated $815 million. The company is controlled by
Cerberus Capital Management.



REX ENERGY: Moody's Cuts Corporate Family Rating to Caa1
--------------------------------------------------------
Moody's Investors Service downgraded REX Energy Corporation's
(REXX) Corporate Family Rating (CFR) to Caa1 from B3, its
Probability of Default Rating (PDR) to Caa1-PD from B3-PD, its
senior unsecured notes to Caa2 from Caa1. The SGL-4 Speculative
Grade Liquidity (SGL) Rating was affirmed and the rating outlook
remains negative.

"The ratings downgrade was driven by the continued weakness in
REXX's credit metrics and an asset base with high capital spending
needs in a weak commodity price environment," commented Sreedhar
Kona, Moody's Senior Analyst. "The negative outlook reflects the
potential for open market purchases of the company's debt at steep
discounts to fair value and the prospect of increased financial
stress beyond 2016."

Downgrades:

Issuer: Rex Energy Corporation

-- Corporate Family Rating, Downgraded to Caa1 from B3

-- Probability of Default Rating, Downgraded to Caa1-PD from B3-
    PD

-- Senior Unsecured Regular Bond/Debentures, Downgraded to Caa2
    (LGD 4) from Caa1 (LGD 4)

Affirmations:

-- Speculative Grade Liquidity Rating, Affirmed SGL-4

Outlook Actions:

-- Outlook, Remains Negative

RATINGS RATIONALE

The downgrade of the CFR to Caa1 from B3 reflects REXX's
deteriorating credit metrics, including leverage, interest
coverage, cash margins and cash flow coverage of debt through 2016.
Despite its hedging program and a modest decline in operating
costs, we expect the company to generate minimal retained cash flow
in 2016-2017 and interest coverage to weaken to less than 1.5x.
Some of the core acreage not being held by production will require
the company to spend high levels of capital in 2016, hurting the
liquidity profile and increasing debt balances. The rating also
reflects REXX's concentration of reserves and production in the
Appalachian Basin and the execution risk surrounding its
development program on some portions of its acreage. The ratings
are supported by the company's growing production and reserve base
scale being better than most Caa1 peers. REXX will benefit from
improved well performance in the Butler County area of the
Marcellus Shale play and the improving midstream infrastructure in
the region.

The company's senior unsecured notes ($350 million of 8.875% notes
due 2020 and $325 million of 6.25% notes due 2022) were downgraded
to Caa2. This is one notch below the CFR, reflecting the notes'
contractual subordination to the (unrated) $350 million secured
borrowing base revolving credit facility due 2019 ($69 million
outstanding as of 30 September 2015). The revolver is secured by a
pledge of mortgages on oil and gas properties of all subsidiaries
located in Pennsylvania, Ohio, Illinois and Indiana and ranks ahead
of the senior notes under Moody's Loss Given Default Methodology.
The Caa1-PD Probability of Default Rating (PDR) is in line with the
CFR given the bank and bond debt mix and our expectations for an
average recovery in a distressed scenario.

The SGL-4 rating reflects Moody's expectation that REXX's liquidity
will remain weak through 2016. EBITDA will not be sufficient to
cover any material cash needs beyond the $50 million - $60 million
of cash interest expense and $10 million of preferred dividends,
leading to an increased reliance on external sources to fund
capital spending plans. As of 30 September 2015, REXX had $3
million of cash and $270 million of availability ($69 million of
outstanding borrowings and $11 million of letters of credit
outstanding) under its $350 million borrowing base credit facility.
The availability under the credit facility could reduce if the
borrowing base gets redetermined lower in the spring 2016. There
are no debt maturities until 2019, when the revolver commitments
expire. "We expect the company to remain in compliance with its
financial maintenance covenants (maximum net senior secured
debt/EBITDAX of 3.0x and current ratio of 1.0x) through 2016.
Substantially all of the company's assets are pledged as collateral
to the revolving credit facility and any net proceeds from asset
sales have to be used to reduce outstanding revolver balances
leaving limited alternative liquidity. The company continues to
explore a potential joint venture partner for the acreage in
Moraine East, however, the timing and ultimate proceeds are
uncertain."

The negative outlook reflects the potential for material open
market purchases of rated debt at steep discounts to face value and
the reliance on finding a joint venture partner for the development
of Moraine East acreage to avoid an increase in debt balances and a
subsequent covenant breach in 2017.

The ratings could be downgraded if REXX does not generate positive
retained cash flow on a sustained basis or if EBITDA/interest
coverage reduce to and sustains below 1x. Ratings could also be
downgraded if liquidity in the form of availability under the
revolver and balance sheet cash declines to less than $200
million.

A rating upgrade is not expected through 2016 due to the weak
commodity price outlook. An upgrade will be considered if the
company improves RCF/Debt to above 10% and sustains EBITDA/interest
at above 2x. Liquidity must improve to at least adequate levels for
ratings to be considered for an upgrade.

Headquartered in State College, PA, REXX is an independent,
exploration and production company with operations concentrated in
the Appalachian and the Illinois Basins.



ROBERTO SEBELEN MEDINA: Court Dismisses Suit vs. Municipality
-------------------------------------------------------------
In an Opinion and Order dated November 12, 2015, which is available
at http://is.gd/rquzfcfrom Leagle.com, Judge Brian K. Tester of
the United States Bankruptcy Court for the District of Puerto Rico
granted the Municipality of Carolina's Motion to Dismiss the case
captioned ROBERTO SEBELEN MEDINA, BETSIE MARIE CORUJO MARTINEZ,
Plaintiffs, v. MUNICIPALITY OF CAROLINA, JOSE CARLOS APONTE DALMAU,
MAYOR OF THE MUNICIPALITY OF CAROLINA, Defendants, ADVERSARY NO.
15-00070 BKT (Bankr. D.P.R.).

The bankruptcy case is IN RE: ROBERTO SEBELEN MEDINA, BETSIE MARIE
CORUJO MARTINEZ, Chapter 11, Debtors, CASE NO. 14-06368 BKT (Bankr.
D.P.R.).

Roberto Sebelen Medina, Plaintiff, represented by MANUEL J. PEREZ
GARCIA, Esq. -- CIUDAD JARDIN BAIROA.

Municipality of Carolina, Defendant, represented by JOSE L.
GANDARA, Esq. -- Bauza & Gandara.


ROCKWELL MEDICAL: Incurs $2.41 Million Net Loss in Third Quarter
----------------------------------------------------------------
Rockwell Medical, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $2.41 million on $14.4 million of sales for the three months
ended Sept. 30, 2015, compared to a net loss of $3.96 million on
$13.7 million of sales for the same period in 2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $8.65 million on $41.2 million of sales compared to a
net loss of $14.9 million on $39.7 million of sales for the same
period a year ago.

As of Sept. 30, 2015, the Company had $90.9 million in total
assets, $26.5 million in total liabilities and $64.4 million in
total shareholders' equity.

"We had a very positive and productive third quarter," stated
Robert L. Chioini, chairman and CEO of Rockwell.  "We experienced
solid concentrate sales and results, and most importantly we
commenced U.S. commercial launch of Triferic, our innovative iron
replacement and hemoglobin maintenance drug to treat anemia in
hemodialysis patients.  The clinical community has responded
favorably to Triferic and its unique mechanism of action, which
enables iron to bind immediately to transferrin and bypass the
current iron sequestration and RE block that occurs with IV iron
products.  The drug's ability to deliver iron at every patient
treatment and maintain hemoglobin concentration without increasing
iron stores has received strong interest across the spectrum of
dialysis providers, from large-to-small.  We anticipate broad
clinical adoption over the next several months of this
first-in-class iron maintenance therapy for ESRD patients."

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

                     http://is.gd/lwUWaj

                       About Rockwell

Rockwell Medical, Inc. (Nasdaq: RMTI), headquartered in Wixom,
Michigan, is a fully-integrated biopharmaceutical company
targeting end-stage renal disease ("ESRD") and chronic kidney
disease ("CKD") with innovative products and services for the
treatment of iron deficiency, secondary hyperparathyroidism and
hemodialysis (also referred to as "HD" or "dialysis").

Rockwell's lead investigational drug is in late stage clinical
development for iron therapy treatment in CKD-HD patients.  It is
called Soluble Ferric Pyrophosphate ("SFP").  SFP delivers iron to
the bone marrow in a non-invasive, physiologic manner to
hemodialysis patients via dialysate during their regular dialysis
treatment.

Rockwell reported a net loss of $21.3 million in 2014, a net loss
of $48.8 million in 2013 and a net loss of $54.02 million in 2012.


SANUWAVE HEALTH: Incurs $1.02 Million Net Loss in Third Quarter
---------------------------------------------------------------
SANUWAVE Health, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.02 million on $144,000 of revenues for the three months ended
Sept. 30, 2015, compared to a net loss of $1.49 million on $227,000
of revenues for the same period in 2014.

For the nine months ended Sept. 30, 2015, compared to a net loss of
$3.70 million on $594,000 of revenues compared to a net loss of
$5.75 million on $610,705 of revenues for the same period during
the prior year.

As of Sept. 30, 2015, the Company had $1.50 million in total
assets, $6.62 million in total liabilities and a stockholders'
deficit of $5.12 million.

                      Bankruptcy Warning

"The continuation of the Company's business is dependent upon
raising additional capital before the conclusion of fourth quarter
of 2015 to fund operations.  Management's plans are to obtain
additional capital through the issuance of common or preferred
stock, securities convertible into common stock or secured or
unsecured debt, investments by strategic partner for market
opportunities, which may include strategic partnerships or
licensing arrangements or complete a joint venture, partnership or
sale of the wound product to complete the FDA trial successfully
and begin commercialization of the product in 2016.  These
possibilities, to the extent available, may be on terms that result
in significant dilution to the Company's existing shareholders.
Although no assurances can be given, management of the Company
believes that potential additional issuances of equity or other
potential financing transactions as discussed above should provide
the necessary funding for the Company to continue as a going
concern.  If these efforts are unsuccessful, the Company may be
forced to seek relief through a filing under the U.S. Bankruptcy
Code," the Company states in the quarterly report.

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

                       http://is.gd/YvEWsq

                       About SANUWAVE Health

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

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


SB PARTNERS: Posts $13.6 Million Net Income for Third Quarter
-------------------------------------------------------------
SB Partners filed with the Securities and Exchange Commission its
quarterly report on Form 10-Q disclosing net income of $13.6
million on $257,000 of total revenues for the three months ended
Sept. 30, 2015, compared to a net loss of $196,000 on $280,000 of
total revenues for the same period during the prior year.

For the nine months ended Sept. 30, 2015, the Company reported net
income of $13.3 million on $754,000 of total revenues compared to a
net loss of $686,000 on $801,000 of total revenues for the same
period in 2014.

As of Sept. 30, 2015, the Company had $15.9 million in total
assets, $8.29 million in total liabilities and $7.55 million in
total partners' equity.

The Company had cash and cash equivalents of approximately $1.32
million as of Sept. 30, 2015.

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

                         http://is.gd/jMzHJn

                         About SB Partners

Milford, Conn.-based SB Partners is a New York limited partnership
engaged in acquiring, operating and holding for investment a
varying portfolio of real estate interests.  As of June 30,
2010, the partnership owns an industrial flex property in Maple
Grove, Minnesota and warehouse distribution centers in Lino Lakes,
Minnesota and Naperville, Illinois.

SB Partners reported a net loss of $875,000 on $1.08 million of
total revenues for the year ended Dec. 31, 2014, compared to a net
loss of $1.1 million on $896,000 of total revenues for the year
ended Dec. 31, 2013.


SCADATECH: Involuntary Chapter 11 Case Summary
----------------------------------------------
Alleged Debtor: ScadaTech
                1882 W. El Norte Parkway, #C
                Escondido, CA 92026

Case Number: 15-07416

Involuntary Chapter 11 Petition Date: November 19, 2015

Court: United States Bankruptcy Court
       Southern District of California (San Diego)

Judge: Hon. Laura S. Taylor

Petitioner's Counsel: Bruce R. Babcock, Esq.
                      LAW OFFICE OF BRUCE R. BABCOCK
                      4808 Santa Monica Ave
                      San Diego, CA 92107
                      Tel: (619) 222-2661
                      Email: brbab@hotmail.com

   Petitioner                   Nature of Claim  Claim Amount
   ----------                   ---------------  ------------
Precision Business                Unsecured      In excess of
Consulting, LLC                                    $30,000
1607 Pepperwood Dr.
El Cajon, CA 92021


STANDARD REGISTER: Taps Landen C. Williams as Interim President
---------------------------------------------------------------
The Standard Register Company, et al., ask the U.S. Bankruptcy
Court for the District of Delaware for permission to modify the
engagement of WilliamsMarston LLC to designate Landen C. Williams
as interim president and chief executive officer.

On Sept. 15, the Court entered the WilliamsMarston retention order.
In connection therewith, WilliamsMarston has provided
restructuring consultants and temporary staffing to the Debtors
during the pendency of the Chapter 11 cases, during which time Mr.
Williams has served as the Debtors' chief restructuring officer and
treasurer.

In the amended motion, the Debtors seek permission to appoint Mr.
Williams as their interim president and chief executive officer, in
addition to continuing as the Debtors' treasurer.

                     About Standard Register

Standard Register provides market-specific insights and a
compelling portfolio of workflow, content and analytics solutions
to address the changing business landscape in healthcare,
financial services, manufacturing and retail markets.  The Company
has operations in all U.S. states and Puerto Rico, and currently
employs 3,500 full-time employees and 16 part-time employees.

The Standard Register Company and 10 affiliated debtors sought
Chapter 11 protection in Delaware on March 12, 2015, with plans to
launch a sale process where its largest secured lender would serve
as stalking horse bidder in an auction.

The cases are pending before the Honorable Judge Brendan L.
Shannon and are jointly administered under Case No. 15-10541.

The Debtors have tapped Gibson, Dunn & Crutcher LLP and Young
Conaway Stargatt & Taylor LLP as counsel; McKinsey Recovery &
Transformation Services U.S., LLC, as restructuring advisors; and
Prime Clerk LLC as claims agent.

The Official Committee of Unsecured Creditors tapped Lowenstein
Sandler LLP as its counsel and Jefferies LLC as its exclusive
investment banker.


TEMPNOLOGY LLC: Bid to Determine Scope of Creditor's Election OK'd
------------------------------------------------------------------
In a Memorandum Opinion dated November 12, 2015, which is available
at http://is.gd/MeN55Bfrom Leagle.com, Judge J. Michael Deasy of
the United States Bankruptcy Court for the District of New
Hampshire granted Tempnology, LLC's Motion for Determination of the
Applicability and Scope of Mission Product Holdings, Inc.'s
Election and the objection thereto filed by Mission Product
Holdings, Inc.

On October 2, 2015, the Court entered an order granting the
Debtor's motion to reject its contract with Mission subject to
Mission's election to preserve its rights.  Through the present
Motion, the Debtor seeks a determination that those rights do not
extend to the grant of certain exclusive distribution rights or to
the use of the Debtor's trademarks and logos.

The case is In re: Tempnology, LLC, Chapter 11, Debtors, BK. NO.
15-11400-JMD, 2015 BNH 011(Bankr. D.N.H.).

Tempnology LLC, Debtor, represented by Christopher M. Desiderio,
Esq. -- cdesiderio@nixonpeabody.com -- Nixon Peabody, LLC, Lee
Harrington, Esq. -- lharrington@nixonpeabody.com -- Nixon Peabody,
LLP, Daniel W. Sklar, Esq. -- dsklar@nixonpeabody.com -- Nixon
Peabody LLP.


TEXAS LEADERSHIP: S&P Lowers Rating on Bonds to 'BB-'
-----------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating to
'BB-' from 'BB' on Texas Leadership Charter Academy's (TLCA)
tax-exempt series 2013Q (direct pay qualified school construction
bonds, or QSCBs), tax-exempt series 2013A, and taxable 2013B
education revenue bonds.  The outlook is negative.

"The lowered rating reflects our view of TLCA's rapid growth, which
has come with considerable operational weakness, in our view, as
TLCA opened a new campus in Abilene for fall 2015 and in Arlington
during fall 2014," said Standard & Poor's credit analyst Ryan
Quakenbush.  "The rating action also takes into account the bond
covenant violation of days' cash on hand for fiscal 2014 with a
second year of a violation for fiscal 2015.  We do note the school
was able to secure a bond covenant waiver for fiscal 2014; however,
fiscal 2015 has not yet been determined if bondholders will agree
to a second waiver for liquidity violations," Mr. Quakenbush added.


The bonds are a general obligation of the school secured by 100% of
per-pupil state aid and a first-mortgage lien on the academy's land
and facilities.



THOMPSON CREEK: S&P Lowers CCR to 'CCC+', Outlook Negative
----------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
corporate credit rating on copper and gold producer Thompson Creek
Metals Co. Inc. to 'CCC+' from 'B-'.  The outlook is negative.

At the same time, Standard & Poor's lowered its issue-level ratings
on the company's senior secured debt to 'B' from 'B+'; the '1'
recovery rating on the debt is unchanged.  In addition, Standard &
Poor's lowered its issue-level rating on the company's senior
unsecured debt to 'CCC-' from 'CCC'; the '6' recovery rating on the
debt is unchanged.

"Our downgrade of Thompson Creek primarily reflects our view that
the company's capital structure is unsustainable, given high
interest costs relative to the company's estimated cash flows and
significant debt maturities starting in 2017," said Standard &
Poor's credit analyst Jarrett Bilous.  "In our view, Thompson
Creek's capital structure is vulnerable and dependent on improving
copper prices to meet its long-term financial commitments," Mr.
Bilous added.

Under S&P's base-case scenario, Thompson Creek will not have
sufficient cash to repay its debt obligations as they mature and as
a result S&P has revised its liquidity assessment to "less than
adequate" from "adequate"  In S&P's view, the company does not face
a near-term payment crisis, given its large cash position (more
than US$200 million).  However, S&P believes Thompson Creek is
vulnerable and dependent on improving copper prices and the
resolution of operating issues at its Mt. Milligan mine to meet its
longer-term financial commitments.  Accordingly, these factors are
consistent with our previous downside trigger and a 'CCC+' rating,
as defined by Standard & Poor's.

The company recently announced it hired advisors to assist its
board of directors to evaluate strategic and financial
alternatives, including debt refinancing and restructuring, new
capital transactions, and asset sales.  At this point, S&P has no
visibility regarding the potential outcome of the review, which it
expects will be announced over the coming months.  However, S&P
believes new sources of funding are unlikely to be sufficient to
positively affect its ratings on the company given Thompson Creek's
significant debt load and prevailing weakness in copper prices.  In
addition, molybdenum markets remain depressed and S&P expects this
will reduce Thompson Creek's ability to generate substantial
proceeds from asset sales.  In S&P's view, a debt restructuring
that eventually leads to a refinancing at below par remains a
distinct possibility, and would negatively affect S&P's ratings on
the company.

The negative outlook reflects the potential for a downgrade if the
company announces a debt restructuring transaction, or if its
estimated liquidity position materially deteriorates over the next
12 months.

S&P could lower the ratings if Thompson Creek announces a
restructuring transaction that results in a debt exchange at below
par, which would be tantamount to a selective default.  A downgrade
could also result from a material deterioration in the company's
liquidity position in the next 12 months, which S&P believes could
result from weaker-than-expected average copper and gold prices or
sustained operating issues.  In this scenario, S&P would envision a
specific path to a payment default.

S&P could revise the outlook to stable if the strategic review
results in material cash inflows to Thompson Creek alongside
stronger-than-expected copper market conditions that enhance the
company's liquidity position and significantly reduce its
refinancing risk.



TRAFALGAR POWER: Suit Against Algonquin Power, et al., Dismissed
----------------------------------------------------------------
In a Memorandum-Decision and Order dated November 12, 2015, which
is available at http://is.gd/mzgePWfrom Leagle.com, Judge Diane
Davis of the United States Bankruptcy Court for the Northern
District of New York dismissed on its merits the Adversary
Proceeding captioned MARINA DEVELOPMENT, INC., TRAFALGAR POWER,
INC., CHRISTINE FALLS OF NEW YORK, INC., FRANKLIN INDUSTRIAL
COMPLEX, INC., and PINE RUN OF VIRGINIA, INC., Plaintiffs, v.
ALGONQUIN POWER CORPORATION, INC., ALGONQUIN POWER SYSTEMS, INC.,
ALGONQUIN POWER FUND (CANADA), INC., ALGONQUIN POWER INCOME FUND,
ALGONQUIN POWER SYSTEMS NEW HAMPSHIRE, INC., ALGONQUIN POWER (U.S.
HOLDINGS), INC., AETNA LIFE INSURANCE COMPANY, CIT CREDIT GROUP,
INC. f/k/a NEWCOURT CREDIT GROUP, INC. and CANADIAN INCOME PARTNERS
1 LIMITED PARTNERSHIP, Defendants. MARINA DEVELOPMENT, INC.,
TRAFALGAR POWER, INC., CHRISTINE FALLS OF NEW YORK, INC., FRANKLIN
INDUSTRIAL COMPLEX, INC., and PINE RUN OF VIRGINIA, INC.,
Plaintiffs, v. ALGONQUIN POWER CORPORATION, INC., ALGONQUIN POWER
SYSTEMS, INC., ALGONQUIN POWER FUND (CANADA), INC., ALGONQUIN POWER
INCOME FUND, ALGONQUIN POWER SYSTEMS NEW HAMPSHIRE, INC., ALGONQUIN
POWER (U.S. HOLDINGS), INC., AETNA LIFE INSURANCE COMPANY, CIT
CREDIT GROUP, INC. f/k/a NEWCOURT CREDIT GROUP, INC. and CANADIAN
INCOME PARTNERS 1 LIMITED PARTNERSHIP, Defendants, ADV. PRO. NO.
02-80005., 02-80008 (Bankr. N.D.N.Y.).

U.S. Bankruptcy Judge Diane Davis's first foray into
sixteen-year-old litigation beginning in 1999 between the parties
and unrelated third parties involving several consolidated actions
spanning multiple forums. The complex history of this epic battle
between the parties has been painstakingly documented in prior
decisions of this Court issued by Judge Davis' predecessor and in
prior decisions issued by the United States District Court for the
Northern District of New York  and the Second Circuit Court of
Appeals. Since Judge Davis inherited this case in 2009, the
litigation has been the subject of multiple decisions and appeals
and has generated millions of dollars in attorneys' fees. After
years of extensive, protracted litigation in the higher courts that
required bankruptcy matters to be held in abeyance until the
conclusion of such litigation, Trafalgar Power, Inc., Christine
Falls of New York, Inc. (collectively, "Trafalgar" or "Debtors"),
and Marina Development, Inc. and the Algonquin entities comprised
of Algonquin Power Corporation, Inc. ("APC"), Algonquin Power
Systems, Inc. ("APS"), Algonquin Power Fund (Canada), Inc. ("APF"),
Algonquin Power Income Fund ("APIF"), Algonquin Power Systems New
Hampshire, Inc. ("APSNH"), and Algonquin Power (U.S.) Holdings,
Inc. ("APH") (collectively, "Algonquin") now employ the procedural
weapon of summary judgment in their respective attempts to
ultimately dispense with Algonquin's bankruptcy claims in Debtors'
jointly administered bankruptcy cases and Debtors' and Marina's
remaining causes of action against Algonquin in their adversary
proceedings before this Court.

Specifically, Debtors seek partial summary judgment pursuant to
Federal Rule of Civil Procedure as incorporated into Federal Rule
of Bankruptcy Procedure 7056 and applied to contested matters by
Bankruptcy Rule 9014(c), granting in part their Objection to the
Allowance of Certain Claims wherein Debtors seek assorted relief
including, but not limited to, recoupment against Claim Numbers 5
and 7 filed by APIF in the Trafalgar Power bankruptcy case and the
Christine Falls bankruptcy case, respectively, in the principal
amount of $18,821,496.00, plus interest, costs, expenses, and
attorneys' fees (the "Algonquin Claims"). Algonquin seeks summary
judgment pursuant to Civil Rule 56, as incorporated into Bankruptcy
Rule 7056, dismissing Debtors' and Marina's remaining causes of
action against it in their adversary proceedings to recover
allegedly fraudulent transfers and to equitably subordinate the
Algonquin Claims as set forth in their initial Adversary Complaints
filed on August 29, 2001.

The case is In re: FRANKLIN INDUSTRIAL COMPLEX, INC., Chapter 11
Case, Debtor. In re: CHRISTINE FALLS OF NEW YORK, INC., Chapter 11
Case, Debtor. In re: TRAFALGAR POWER, INC., Chapter 11 Case,
Debtor, CASE NOS. 01-67459, 01-67458, MAIN CASE NO. 01-67457
(Bankr. N.D.N.Y.).

Trafalgar Power, Inc., Debtor, represented by David M. Capriotti,
Esq. -- dcapriotti@harrisbeach.com -- Harris Beach PLLC, Kelly C.
Griffith, Esq. -- kgriffith@harrisbeach.com -- Harris Beach PLLC,
Camille Wolnik Hill, Esq -- Hancock & Estabrook, LLP, Wendy A.
Kinsella, Esq. -- wkinsella@harrisbeach.com -- Harris Beach PLLC,
Kevin W. Tompsett, Esq. -- ktompsett@harrisbeach.com -- Harris
Beach PLLC, Lee E. Woodard, Esq. -- lwoodard@harrisbeach.com --
Harris Beach PLLC.


TRUMP ENTERTAINMENT: Atlantic City Casino Tax Measure Declines
--------------------------------------------------------------
Martin Bricketto at Bankruptcy Law360 reported that New Jersey Gov.
Chris Christie's conditional veto of legislation intended to
stabilize Atlantic City's tax revenue from casinos isn't a deal
breaker for the proposal, but does create new uncertainty for a
measure that would go only so far in solving the city's financial
woes, observers say.

Gov. Christie on Nov. 9, 2015, mostly declined to approve a
five-bill package that sponsors say would help bolster Atlantic
City, which has grappled with the closure of four casinos in 2014,
a more than $13 billion drop in its tax.

               About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on Sept.
9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13, 2104.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first
lien debt issued under their 2010 bankruptcy-exit plan.  The
Debtors also have trade debt in the amount of $13.5 million.

                         *     *     *

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware on March 12, 2015, confirmed Trump Entertainment Resorts,
Inc., et al.'s Third Amended Joint Plan of Reorganization and
Disclosure Statement pursuant to Section 1129 of the Bankruptcy
Code.

The Debtors filed on Jan. 5, 2015, the Plan and accompanying
Disclosure Statement to, among other things, provide that holders
of General Unsecured Claims will receive Distribution Trust
Interests, which will include $1 million in cash and the proceeds,
if any, of certain avoidance actions.  Under the revised plan,
holders of general unsecured claims are estimated to recover 0.47%
to 0.43% of their total allowed claim amount.  The Amended Plan
also includes language reflecting the recently-approved $20
million
loan from Carl Icahn.

A full-text copy of the Findings of Fact is available for free at:
http://bankrupt.com/misc/TRUMPENTERTAINMENT_Plan_Findings.pdf


USA DISCOUNTERS: Claims Bar Date Set for December 29
----------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware set Dec. 29,
2015, at 5:00 p.m. (prevailing Eastern Time) as the deadline by
which each person or entity to file proofs of claim against USA
Discounters Ltd. and its debtor-affiliates.

The Court also set Feb. 22, 2016, at 5:00 p.m. (prevailing Eastern
Time) as the last day for governmental units to file their claims
against the Debtors.

Original proof of claim must be filed at:

   USA Discounters Claims Processing Center
   c/o Kurtzman Carson Consultants LLC
   2335 Alaska Ave.
   El Segundo, CA 90245

                       About USA Discounters

USA Discounters was founded in May 1991. in the City of Norfolk,
Virginia, under the name USA Furniture Discounters, Ltd.  It sold
goods through two groups of stores -- one group of specialty retail
stores operating under the "USA Living" brand, typically in
standalone locations, and seven additional retail stores operating
under the "Fletcher's Jewelers" brand, typically in major shopping
malls.

USA Discounters, Ltd., and two affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 15-11755) on
Aug. 24, 2015, to wind down the business.

The Debtors tapped Pachulski Stang Ziehl & Jones LLP and Klee,
Tuchin, Bogdanoff & Stern LLP as attorneys, and Kurtzman Carson
Consultants, LLC, as claims and noticing agent.

USA Discounters Ltd. disclosed total assets of $97,490,455 plus an
undetermined amount and total liabilities of $63,011,206 plus an
undetermined amount.

The Official Committee of Unsecured Creditors is represented by
Kelly Drye & Warren LLP as lead counsel, Khler Harrison Harvey
Branzburg LLP as its Delaware co-counsel.  FTI Consulting, Inc.,
serves as its financial advisor.


USA DISCOUNTERS: Lease Decision Period Extended Thru March 2016
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware extended the
deadline within which USA Discounters Ltd. and its
debtor-affiliates may assume, assume and assign, or reject
unexpired leases of nonresidential real property for an additional
90 days, through March 2016.

The original 120-day Assumption/Rejection Period expires December
22, 2015.  By their Motion, the Debtors sought entry of an order,
pursuant to section 365(d)(4)(B)(i) of the Bankruptcy Code,
granting an extension of the Assumption/Rejection Period for an
additional 90 days from the end of the period determined under
section 365(d)(4)(A).

                       About USA Discounters

USA Discounters was founded in May 1991. in the City of Norfolk,
Virginia, under the name USA Furniture Discounters, Ltd.  It sold
goods through two groups of stores -- one group of specialty retail
stores operating under the "USA Living" brand, typically in
standalone locations, and seven additional retail stores operating
under the "Fletcher's Jewelers" brand, typically in major shopping
malls.

USA Discounters, Ltd., and two affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 15-11755) on
Aug. 24, 2015, to wind down the business.

The Debtors tapped Pachulski Stang Ziehl & Jones LLP and Klee,
Tuchin, Bogdanoff & Stern LLP as attorneys, and Kurtzman Carson
Consultants, LLC, as claims and noticing agent.

USA Discounters Ltd. disclosed total assets of $97,490,455 plus an
undetermined amount and total liabilities of $63,011,206 plus an
undetermined amount.

The Official Committee of Unsecured Creditors is represented by
Kelly Drye & Warren LLP as lead counsel, Khler Harrison Harvey
Branzburg LLP as its Delaware co-counsel.  FTI Consulting, Inc.,
serves as its financial advisor.


USAGM TOPCO: S&P Affirms 'B' CCR on Delayed Draw Financing
----------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating to Santa Ana, Calif.-based USAGM Topco LLC.  The
outlook is stable.

At the same time, S&P affirmed its 'B' issue-level rating on the
company's first-lien credit facilities, including a $130 million
revolving facility due 2020, $710 million term loan, and $50
million delayed draw term loan due 2022.  The recovery rating on
the first-lien facilities is '3', which indicates S&P's expectation
for lenders to receive meaningful recovery (50% to 70%, at the high
end of the range) in the event of payment default.

S&P also affirmed its 'CCC+' issue-level rating on the company's
second-lien facilities, consisting of a $300 million term loan and
$20 million delayed draw term loan, both due 2023.  The recovery
rating on the second-lien facilities remains '6', indicating S&P's
expectation of negligible recovery (0-10%) in the event of a
payment default.

"The affirmation of the ratings reflects the minimal impact the
debt-financed acquisition has on Universal's credit metrics and
business profile," said Standard & Poor's credit analyst Peter
Deluca.

Pro forma for the transaction, leverage will be about 9.0x, and S&P
expects it to strengthen slightly over the next two years, given
that the company is focusing on growing its business and is owned
by a financial sponsor.  Most financial sponsor-owned companies
typically focus on generating investment returns over short time
horizons (less than five years) and typically operate with high
debt levels.  "For Universal," said Mr. Deluca, "this suggests that
future capital allocation decisions--additional debt-financed
acquisitions or dividends, for example--could restrict the company
from achieving leverage below 6x for an extended time period."

The ratings on Universal also reflect its participation in the
highly competitive and fragmented manned security services
industry, and narrow business focus.  Standard & Poor's has also
factored into the rating the company's good market position,
flexible cost structure, diversified client base, and good client
retention experience.

The stable rating outlook reflects S&P's expectation that Universal
will at least maintain credit metrics near current levels,
including leverage in the mid-8x area, over the next year, given
its history of integrating acquisitions and good market position in
the growing manned guard sector.



USG CORP: Fitch Affirms 'B+' IDR & Revises Outlook to Positive
--------------------------------------------------------------
Fitch Ratings has affirmed the ratings for USG Corporation (NYSE:
USG), including the company's Issuer Default Rating (IDR) at 'B+'.
The Rating Outlook has been revised to Positive from Stable.

KEY RATING DRIVERS

The rating for USG reflects the company's leading market position
in all of its core businesses, strong brand recognition, its large
manufacturing network and sizeable gypsum reserves.  Risks include
the cyclicality of the company's end markets, excess capacity
currently in place in the U.S. wallboard industry, volatility of
wallboard shipments and pricing, and, although improving, the
company's still high leverage position.

The Positive Outlook reflects Fitch's expectation that demand will
continue to grow during the remainder of 2015 and in 2016 as the
moderate recovery in the residential and non-residential
construction sectors is maintained.  The Positive Outlook also
reflects the company's solid liquidity position and Fitch's
expectation that USG's credit metrics will continue to improve,
driven by modestly healthier financial results and lower overall
debt levels next year.

IMPROVING CREDIT METRICS

USG's leverage has improved significantly to 4.3x for the
latest-12-months (LTM) ending Sept. 30, 2015 compared with 4.5x at
year-end 2014, 5.4x at the end of 2013, 8.75x at the conclusion of
2012 and 35.4x at the year-end 2011.  Fitch expects further
improvement in leverage, with debt to EBITDA projected to be around
4.2x by year-end 2015 and will be between 3.0x - 4.0x at the
conclusion of 2016.

Interest coverage also increased to 3.1x for the Sept. 30, 2015 LTM
period from 2.3x in 2014, 2.1x in 2013, 1.3x in 2012 and 0.3x in
2011.  Fitch expects the interest coverage ratio will settle at
around 3.2x at the end of 2015 and above 3.5x at year-end 2016.

Management has indicated its commitment to achieving investment
grade credit metrics, including debt to EBITDA of 1.5x - 2.0x at
the mid-cycle.  The company intends to lower its absolute debt
levels, and could accomplish this with the repayment of $500
million of senior notes maturing in November 2016.  The Positive
Outlook reflects Fitch's expectation that the company will reduce
overall debt next year, leading to debt to EBITDA levels
comfortably in the 3.0x - 4.0x range.

SOLID LIQUIDITY POSITION

The company has a solid liquidity position and is able to meet its
financial obligations, including $500 million of senior notes
maturing in November 2016.  As of Sept. 30, 2015, USG had $785
million of liquidity comprised of $333 million of cash, $89 million
of short-term marketable securities, $28 million of long-term
marketable securities and $335 million of borrowing availability
under its credit facility.

Fitch expects USG's liquidity will remain healthy during the next
12 - 18 months.  Fitch projects USG's overall liquidity will be
between $700 million and $800 million at the end of 2015 and will
remain above $600 million during 2016.

INCREASING FREE CASH FLOW GENERATION

For the LTM period ending Sept. 30, 2015, USG generated $129
million (3.4% of revenues) of free cash flow (FCF).  By comparison,
USG reported FCF of $40 million (1.1%) during 2014, negative $46
million during 2013 and positive $8 million during 2012.  Fitch
expects the company will generate FCF of about 2.5% - 3.5% of
revenues during 2015 and 6.0% - 7.0% of revenues during the next
few years.

STRONG MARKET POSITION

USG maintains a strong market position in all of its core
businesses.  According to the company, it has the #1 market
position in the wallboard industry in North America.  USG's
Ceilings business has the #2 market position worldwide and its
Distribution segment has the #1 market position in the U.S.
specialty distribution business.  The company's USG Boral Building
Products international joint venture also has the #1 or #2 position
in most of its markets in Asia, Australasia and the Middle East.
These leadership positions provide the company with economies of
scale as well as a solid platform to launch new product offerings.


CYCLICALITY OF END MARKETS

USG markets its products primarily to the construction industry,
with approximately 25% of the company's 2014 net sales directed
toward new residential construction, 24% derived from new
non-residential construction, 49% from the repair and remodel
segment (commercial and residential) and 2% from other industrial
products.

While the overall construction industry is inherently cyclical,
typically, residential construction and commercial construction
have differing cycles.  Additionally, the repair and remodel sector
(both residential and commercial) has generally exhibited less
volatile characteristics compared with the new construction market.
However, during the last U.S. economic and construction downturn,
there were periods when all of these end markets were
simultaneously in decline.

During this period, USG's sales fell 10.5% during 2007, declined
11.4% during 2008, contracted 29.8% during 2009 and decreased 9.2%
during 2010.  USG's EBITDA margins fell more than 12 percentage
points to 7.4% during 2007 and EBITDA margins ranged from 0.4% to
2.0% during the subsequent periods.

The company's sales remain 34.5% below the peak revenues reported
during 2006 while EBITDA margins are 630 bps below the high
reported during 2006.  Nonetheless, USG has lowered its breakeven
point, with its U.S. Gypsum operations reporting operating profit
(excluding non-recurring charges) of $226 million on 924,900
housing starts during 2013 compared with an operating loss
(excluding non-recurring charges) of $218 million on 905,500
housing starts in 2008.  This segment reported operating profit
(excluding non-recurring charges) of $270 million during 2014 on 1
million housing starts.

U.S. CONSTRUCTION MARKET OUTLOOK

Fitch expects continued growth in overall U.S. construction
spending through 2016, particularly for the private residential and
commercial construction markets.

Housing activity has ratcheted up more sharply in 2015 with the
support of a steadily growing, relatively robust economy throughout
the year.  Single-family starts are now forecast to rise about
11.4% to 722,000 as multifamily volume expands about 11% to
394,000.  Total starts would be just in excess of 1.1 million.  New
home sales are projected to increase 20% to 523,000. Existing home
volume is expected to approximate 5.280 million, up 6.9%.  Fitch
expects further improvement next year, with housing starts forecast
to grow about 11%, while new and existing home sales advance 18%
and 4%, respectively.

Home improvement spending is expanding at a steady pace and Fitch
expects this to continue.  Fitch estimates that home improvement
spending increased about 4% in 2014 and will grow approximately
4.5% in 2015 and 2016.

Commercial construction spending has been robust, expanding 12.2%
during the first nine months of 2015.  This follows 11.3%
improvement during 2014.  Fitch expects spending in this sector
will advance 8.5% this year and 7.0% next year as property
fundamentals in the commercial sector remain healthy.

IMPROVING WALLBOARD SHIPMENTS AND STABLE PRICES

Shipments and market prices for the company's building products
historically have been volatile and cyclical.  Currently, there is
significant excess wallboard production capacity in the U.S.

Industry wallboard shipments in the U.S., as reported by the Gypsum
Association, grew about 4% to 16.4 billion sq. ft. during the first
nine months of 2015 compared with 15.7 billion sq. ft. during the
first nine months of 2014.  Shipments for the full year 2014
increased roughly 4.3% to 21.8 billion sq. ft. compared with 20.9
billion sq. ft. during 2013.  USG estimates industry capacity
utilization rates improved further this year but remained low,
averaging approximately 67% during the first nine months of 2015
compared with 63% during first nine months of 2014.  Industry
capacity utilization averaged about 66% during 2014.

U.S. wallboard manufacturers have been successful with their
pricing strategy during 2012 - 2014.   Industry participants
realized meaningful pricing improvement after eliminating the
practice of job quotes and implementing a one-time price increase
effective at the beginning of each year.  USG's average U.S.
wallboard price grew about 18% in 2012 and 17% in 2013.  Fitch
estimates that wallboard prices improved high single-digits during
2014. (Starting in the 4Q'14, USG stopped providing pricing and
volume information for its wallboard products.)

Fitch projects wallboard shipments will increase low to mid-single
digits during 2015.  This sector should continue to benefit from
higher new home construction activity, as well as moderate
improvement in the repair and remodel, and commercial construction
sectors.  Fitch estimates about a third of industry shipments are
directed to the new home construction market.

Several manufacturers have announced wallboard price increases of
as high as 20%, effective Jan. 1, 2015.  However, companies that
publicly provide financial information have only realized
low-single digit pricing improvement so far this year.  Demand has
been rather weak so far this year relative to industry
expectations, making it difficult for manufacturers to fully
realize the announced price increases.

Heading into 2016, several manufacturers have announced pricing
increases effective during the fourth quarter of 2015 and the
beginning of 2016.  However, most of these pricing increases have
been postponed and are likely to be implemented during the latter
part of first-quarter 2016/early second-quarter 2016 as
manufacturers monitor demand.  If industry shipments are
meaningfully greater during 2016 compared with 2015, Fitch believes
that manufacturers may have the opportunity to be more successful
in realizing moderately higher prices next year.

KEY ASSUMPTIONS

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

   -- U.S. construction spending increases 7.7% during 2015 and
      7.1% during 2016;

   -- Sales improve low single-digits during 2015 and mid-single-
      digits in 2016;

   -- EBITDA margins between 13.0% - 14.0% during 2015 and 2016;

   -- FCF margin of 2.5% - 3.5% during 2015 and 6.0% - 7.0% in the

      next few years;

   -- Some debt reduction during 2016;

   -- Debt to EBITDA of 4.2x at the end of 2015 and between 3.0x

      4.0x at year-end 2016;

   -- EBITDA to interest above 3.0x during the next few years.

RATING SENSITIVITIES

Future ratings and Outlooks will be influenced by broad economic
and construction market trends, as well as company specific
activity, including free cash flow trends and liquidity.

The company's IDR may be upgraded to 'BB-' in the next 6 - 12
months if the company shows further improvement in its financial
results and reduces its total debt, including debt to EBITDA
consistently between 3.0x - 4.0x and interest coverage sustaining
above 4.0x, while maintaining at least $500 million of liquidity
(cash, investments and revolver availability).

On the other hand, the Outlook could be revised to Stable if the
company's credit metrics do not improve much from current levels,
including debt to EBITDA consistently above 4.0x and interest
coverage sustained in the 3.0x-3.5x range.

A negative rating action may be considered if there is a sustained
erosion of profits and cash flows either due to weak residential
and commercial construction activity, meaningful and continued loss
of market share, and/or continued materials and energy cost
pressures resulting in margin contraction, including EBITDA margins
of less than 10%, debt to EBITDA consistently above 8x, and total
liquidity falling below $300 million.

FULL LIST OF RATING ACTIONS

Fitch has affirmed these ratings:

USG Corporation

   -- Long-term IDR at 'B+';
   -- Secured bank credit facility at 'BB+/RR1';
   -- Senior unsecured guaranteed notes at 'BB/RR2';
   -- Senior unsecured notes at 'B+/RR4'.

The Rating Outlook is Positive.

Fitch's Recovery Rating (RR) of 'RR1' for USG's $450 million
secured revolving credit facility indicates outstanding recovery
prospects for holders of this debt issue.  Fitch's 'RR2' for USG's
unsecured guaranteed notes indicates superior recovery prospects.
($950 million of unsecured notes are guaranteed on a senior
unsecured basis by certain of USG's domestic subsidiaries.) Fitch's
'RR4' for USG's senior unsecured notes that are not guaranteed by
the company's subsidiaries indicates average recovery prospects for
holders of these debt issues.  Fitch applied a going concern
valuation analysis for these RRs.  Fitch used a mid-cycle EBITDA of
$350 million, which is equivalent to the average EBITDA reported by
the company during the 2002-2014 periods, excluding the high point
reported in 2006 and the low point reported in 2008.



VERSO PAPER: Moody's Cuts Rating to Caa2 CFR Over Default Concerns
------------------------------------------------------------------
Moody's Investors Service downgraded Verso Paper Holdings LLC's
corporate family rating (CFR) to Caa2 from B3, changed the
probability of default rating (PDR) to Caa2-PD from B3-PD, and
assigned an SGL-4 liquidity rating. For Verso and NewPage
Corporation's (which is a non-guarantor restricted subsidiary of
Verso) other debt ratings, refer to the debt list below. Verso's
rating outlook is negative. The rating actions reflect Moody's view
of the increased likelihood that Verso will default on some of its
debt following the company's announcement that it has begun
evaluating potential restructuring alternatives.

Downgrades:

Issuer: NewPage Corporation

-- Senior Secured Bank Credit Facility (Local Currency) Feb 11,
    2021, Downgraded to Caa1(LGD3) from B2(LGD3)

Issuer: Verso Paper Holdings LLC

-- Probability of Default Rating, Downgraded to Caa2-PD from B3-
    PD

-- Corporate Family Rating (Local Currency), Downgraded to Caa2
    from B3

-- Subordinate Regular Bond/Debenture, Downgraded to Ca(LGD6)
    from Caa2(LGD6)

-- Senior Subordinated Regular Bond/Debenture, Downgraded to
    Ca(LGD6) from Caa2(LGD6)

-- Senior Secured ABL Revolving Credit Facility, Downgraded to
    B1(LGD1) from Ba3(LGD1)

-- Senior Secured 1st Lien Revolving Credit Facility, Downgraded
    to Caa2(LGD4) from B3(LGD4)

-- Senior Secured Notes, Downgraded to Caa3(LGD5) from Caa1(LGD5)

-- Senior Secured 1st Lien Notes, Downgraded to Caa2(LGD4) from
    B3(LGD4)

-- Senior Secured Global Notes, Downgraded to Caa2(LGD4) from
    B3(LGD4)

-- Senior Secured 2nd Lien Notes, Downgraded to Caa3(LGD5) from
    Caa1(LGD5)

Reinstatements:

Issuer: Verso Paper Holdings LLC

-- Speculative Grade Liquidity Rating, Reinstated to SGL-4

Outlook Actions:

Issuer: Verso Paper Holdings LLC

-- Outlook, Revised to Negative from Stable

RATINGS RATIONALE

Verso's Caa2 CFR reflects the elevated risk of a default as the
company explores potential restructuring alternatives, the
company's weak liquidity, high leverage (projected adjusted
leverage of about 7x) and the expectation that the company will
continue to face secular demand declines and weak prices for most
of the grades of coated paper it produces. Potential restructuring
alternatives include a distressed debt exchange and/or a chapter 11
filing, if the company is unsuccessful in raising funds through the
sale of assets. The rating also considers the continuing execution
risks in integrating NewPage with Verso and the company's complex
funding structure following their merger earlier this year. The
rating is supported by the company's vertically integrated,
relatively low cost asset base and its leading market position as
the largest producer of higher quality coated paper grades (such as
coated freesheet) in North America.

The company's SGL-4 (Speculative Grade Liquidity) rating signifies
weak liquidity. This reflects Verso and NewPage combined $10
million of cash, $62 million of committed unused availability (at
9/2015) and $40 million of expected free cash flow in the next
year, to fund $72 million of debt maturing over the next 12 months.
While we expect Verso and NewPage together will generate positive
cash flow, we anticipate that the company will require further
borrowing from its facilities to fund debt maturities. With most of
the company's assets secured, Verso has limited alternative
liquidity. As of September 30, 2015, both Verso and NewPage were in
compliance with financial covenants, however without an amendment
or waiver, the company is likely to be in default of one or more of
its covenants over the next 12 months.

The negative rating outlook reflects the increased likelihood of
default should the company proceed with a debt restructuring, which
is now formally being considered.

The ratings could be downgraded if liquidity deteriorates
significantly or if the company restructures its balance sheet such
that bondholders would not recover the full amount of their
holdings.

The ratings could be upgraded if the company is able to refinance
upcoming debt maturities, successfully integrate the operations of
NewPage and improve its ability to cope with the declining coated
paper industry through improved management of operating capacity.
An upgrade would be also contingent upon the maintenance of good
liquidity and debt to EBITDA below 5.5 times.



WALTER ENERGY: Seeks Approval of KERP for 26 Employees
------------------------------------------------------
Walter Energy, Inc. and its affiliated debtors ask the U.S.
Bankruptcy Court for the Northern District of Alabama, Southern
Division, to approve a key employee retention plan for 26 key
employees.

Under the KERP, the key employees are grouped into two, with each
employee receiving a Retention Award if he or she remains with the
business through May 1, 2016, either with his or her current
employer or with a new owner of the business, through May 1, 2016.
Each Group B Key Employee will receive an additional Retention
Award if he or she remains with the business, either with his or
her current employer or with a new owner of the business, through
November 1, 2016.

About 88% of the Retention Awards payable to Key Employees totals
50% of the Key Employee's annual base salary.  A small number of
Key Employees are eligible to receive 100% of their annual base
salary.

The Debtors will pay the Retention Awards from their cash
collateral, as agreed to by the Steering Committee and as permitted
under the Cash Collateral Order.  If the Stalking Horse Purchaser
and/or other successful bidder extends an employment offer to a Key
Employee to work for the relevant new owner, and the Key Employee
accepts the offer, then the Stalking Horse Purchaser and/or the new
owner will assume the obligation to pay that Key Employee's
Retention Award to the extent unpaid.

To protect against circumstances beyond the Key Employees' control,
for example, if the Sale(s) does not close, a successful bidder(s)
does not assume the obligations to fund the Retention Awards, or
the Chapter 11 Cases are converted to cases under chapter 7 or
dismissed, the Debtors will fund a trust with the amounts needed to
pay the Retention Awards and administer the trust upon approval of
the KERP.  The Prefunded Trust will be self-executing and will pay
the Retention Awards to the Key Employees.  In the event a Key
Employee forfeits his or her Retention Award(s), the forfeited
amounts or any amounts remaining in the Prefunded Trust will revert
to the Stalking Horse Purchaser (if the APA is approved and
consummated) or to the First
Lien Creditors, as applicable.

The Debtors are represented by:

          Patrick Darby, Esq.
          Jay Bender, Esq.
          Cathleen Moore, Esq.
          James Bailey, Esq.
          BRADLEY ARANT BOULT CUMMINGS LLP
          One Federal Place
          1819 Fifth Avenue North
          Birmingham, Alabama 35203
          Telephone: (205) 521-8000
          Email: pdarby@babc.com
                 jbender@babc.com
                 ccmoore@babc.com
                 jbailey@babc.com

             -- and --

          Stephen J. Shimshak (pro hac vice)
          Kelley A. Cornish (pro hac vice)
          Claudia R. Tobler (pro hac vice)
          Ann K. Young (pro hac vice)
          Michael S. Rudnick (pro hac vice)
          PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP
          1285 Avenue of the Americas
          New York, New York 10019
          Telephone: (212) 373-3000
          Email: sshimshak@paulweiss.com
                 kcornish@paulweiss.com
                 ctobler@paulweiss.com
                 ayoung@paulweiss.com
                 mrudnick@paulweiss.com

                  About Walter Energy

Walter Energy -- http://www.walterenergy.com/-- is a publicly
traded "pure-play" metallurgical coal producer for the global steel
industry with strategic access to steel producers in Europe, Asia
and South America.  The Company also produces thermal coal,
anthracite, metallurgical coke and coal bed methane gas.  Walter
Energy employs approximately 2,700 employees, with operations in
the United States, Canada and the United Kingdom.

For the year ended Dec. 31, 2014, the Company reported a net loss
of $471 million following a net loss of $359 million in 2013.  

Walter Energy, Inc., and its affiliates sought Chapter 11
protection (Bankr. N.D. Ala. Lead Case No. 15-02741) in Birmingham,
Alabama on July 15, 2015, after signing a restructuring support
agreement with first-lien lenders.

Walter Energy disclosed total assets of $5.2 billion and total debt
of $5 billion as of March 31, 2015.

The Debtors tapped Paul, Weiss, Rifkind, Wharton & Garrison as
counsel; Bradley Arant Boult Cummings LLP, as co-counsel; Ogletree
Deakins LLP, as labor and employment counsel; Maynard, Cooper &
Gale, P.C., as special counsel; Blackstone Advisory Services, L.P.,
as investment banker; AlixPartners, LLP, as financial advisor, and
Kurtzman Carson Consultants LLC, as claims and noticing agent.

The Bankruptcy Administrator for the Northern District of Alabama
appointed an Official Committee of Unsecured Creditors and an
Official Committee of Retirees.  The Creditors Committee tapped
Morrison & Foerster LLP and Christian & Small LLP as attorneys. The
Retiree Committee retained Adams & Reese LLP and Jenner & Block LLP
as attorneys.

The informal group of certain unaffiliated First Lien Lenders and
First Lien Noteholders (the "Steering Committee") retained Akin,
Gump, Strauss, Hauer and Feld LLP as legal advisor, and Lazard
Freres & Co. LLC as financial advisor.


WHITING PETROLEUM: Moody's Cuts Corporate Family Rating to Ba2
--------------------------------------------------------------
Moody's Investors Service downgraded Whiting Petroleum
Corporation's Corporate Family Rating (CFR) to Ba2 from Ba1, its
Probability of Default Rating (PDR) to Ba2-PD to Ba1-PD, its senior
unsecured rating to Ba3 from Ba2, and its senior subordinate rating
to B1 from Ba3. The Speculative Grade Liquidity (SGL) rating was
raised to SGL-2 from SGL-3. The rating outlook is stable.

"The downgrade of Whiting's CFR rating to Ba2 reflects the
company's high leverage profile compared to its Ba1 rated peers,"
commented Gretchen French, Moody's Vice President. "Whiting's
equity issuance, convertible notes offering, and roughly $400
million of asset sales in the first nine months of 2015 have
significantly helped its liquidity profile and moderately improved
its leverage metrics from the highs seen at the end of 2014 as a
result of the Kodiak acquisition. However, cash flow-based credit
metrics are expected to remain below Ba1 rated peers into 2017 as
oil prices continue to remain low."

Issuer: Whiting Petroleum Corporation

Rating Actions:

-- Corporate Family Rating, Downgraded to Ba2 from Ba1

-- Probability of Default Rating, Downgraded to Ba2-PD from Ba1-
    PD

-- Senior Unsecured Notes, Downgraded to Ba3 (LGD4) from Ba2
    (LGD4)

-- Senior Subordinated Bond, Downgraded to B1 (LGD6) from Ba3
    (LGD6)

-- Speculative Grade Liquidity Rating, Raised to SGL-2 from SGL-3

Outlook Actions:

-- Outlook, Remains Stable

Downgrades:

-- Issuer: Kodiak Oil & Gas Corp

-- Senior Unsecured Regular Bond/Debenture, Downgraded to Ba3
    (LGD 4) from Ba2 (LGD 4)

Outlook Actions:

-- Outlook, Remains Stable

RATINGS RATIONALE

Whiting's Ba2 CFR reflects the company's reserves and production
scale, its long-lived reserves profile, a deep inventory of
drilling opportunities, and a demonstrated track record of
organically growing its oil-weighted production. The company has a
history of financing acquisitions conservatively with equity and
taking steps to support its credit metrics through commodity price
cycles through asset sales, reduced capital spending levels, and
equity issuances

The Ba2 CFR is restrained by the company's high financial leverage
stemming from the weak oil price environment and the acquisition of
Kodiak Oil & Gas Corp. in December 2014. Whiting faces a weak oil
price outlook through at least 2016, which will constrain its cash
flow based credit metrics. Additionally, the rating reflects the
risk of asset concentration in the Williston Basin of North Dakota,
which accounts for over 80% of Whiting's production profile, and
the high level of capital spending required to offset its base
decline rates. The production profile is projected to decline
modestly in 2016.

Whiting's SGL-2 rating reflects a good liquidity profile, which is
supported by cash on hand, a large secured revolving credit
facility, which was undrawn as of September 30, 2015, and
sufficient headroom under its financial covenants through 2016.
However, Whiting's operations are subject to the volatility of
commodity price cycles and the current depressed oil price
environment, which we expect to extend through 2016. We project
that Whiting will be cash flow neutral in 2016, as management
targets a discretionary capital budget within cash flow to support
its current credit metrics.

The rating outlook is stable, reflecting the company's strong asset
position in the Williston basin, track record of pursuing asset
sales to support its credit profile, and good liquidity profile in
a weak commodity price environment.

Whiting's ratings could be upgraded if the company is able to
stabilize production at reasonable returns while maintaining
retained cash flow/debt above 25%.

Whiting's ratings could be downgraded if retained cash flow/debt is
sustained below 15% or proved developed reserves and production
declines materially (in excess of 20%).

Whiting Petroleum Corporation is an independent exploration and
production company headquartered in Denver, Colorado, with an
oil-focused asset base in North Dakota, Colorado, and Texas.



YRC WORLDWIDE: Presented at Stephens Fall Investment Conference
---------------------------------------------------------------
YRC Worldwide Inc. delivered a Company presentation on Nov. 10,
2015, at the Stephens Fall Investment Conference in New York, New
York, and hosted one-on-one meetings with investors on Nov. 11,
2015, at the Raymond James Boston Fall Investors Conference in
Boston, Massachusetts.  The Company presentation is available for
free at http://is.gd/G3wtIC

                     About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that offers
its customers a wide range of transportation services.  These
services include global, national and regional transportation as
well as logistics.

YRC Worldwide reported a net loss attributable to common
shareholders of $85.8 million in 2014, a net loss attributable to
common shareholders of $83.6 million in 2013 and a net loss
attributable to common shareholders of $140.4 million in 2012.

As of Sept. 30, 2015, the Company had $1.96 billion in total
assets, $2.39 billion in total liabilities and a $427 million total
shareholders' deficit.

                            *    *    *

As reported by the TCR on Feb. 18, 2014, Moody's Investors Service
had upgraded the Corporate Family Rating for YRC Worldwide from
'Caa3' to 'B3', following the successful closing of its refinancing
transactions.

In the Aug. 11, 2015, TCR report, Standard & Poor's Ratings
Services said that it has raised its corporate credit rating on
Overland, Kan.-based less-than-truckload (LTL) trucking company YRC
Worldwide to 'B-' from 'CCC+'.

"The upgrade reflects YRC's earnings growth and improved liquidity
position, along with our belief that gradual improvement in the
company's operating performance will result in credit measures that
are commensurate with the rating," said Standard & Poor's credit
analyst Michael Durand.


Z TRIM HOLDINGS: Steven Cohen Resigns as Director
-------------------------------------------------
Steven J. Cohen provided Z Trim Holdings, Inc. with notice of his
resignation from the Company's Board of Directors, effective Nov.
4, 2015.  Mr.  Cohen's resignation from the Board was not the
result of any dispute or disagreement with the Company.  Mr. Cohen
has served on the Board since 2006.

                           About Z Trim

Mundelein, Ill.-based Z Trim Holdings, Inc., is a functional food
ingredient company which provides custom product solutions that
help answer the food industry's problems.  Z Trim's revolutionary
technology provides value-added ingredients across virtually all
food industry categories.  Z Trim's all-natural products, among
other things, help to reduce fat and calories, add fiber, provide
shelf-stability, prevent oil migration, and add binding capacity
-- all without degrading the taste and texture of the final food
products.

Z Trim Holdings reported a net loss of $5.57 million in 2014,
following a net loss of $13.4 million in 2013.

As of March 31, 2015, the Company had $2.03 million in total
assets, $4.47 million in total liabilities and a $2.43 million
total stockholders' deficit.

M&K CPAS, PLLC, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2014, citing that the Company does not have
enough cash on hand to meet its current liabilities and has had
reoccurring losses as of Dec. 31, 2014.  These conditions raise
substantial doubt about its ability to continue as a going
concern.


[*] Better Economy Translates Declining Market for Bankruptcy
-------------------------------------------------------------
Emily Field at Bankruptcy Law360 reported that a better economy
translates into a declining market for bankruptcy matters,
according to a recent survey of corporate counsel at large
companies, who also say they see a decreased need for intellectual
property litigation than in previous years.

In addition to bankruptcy and IP litigation, the BTI Business
Development Opportunity Zones report by BTI Consulting Group, which
surveyed about 300 legal decision makers at companies with at least
$1 billion in revenue, identifies government investigation work as
a shrinking area for 2016, even though the after-effects.


[] Lawmakers Want Information About Online Lenders for Loans
------------------------------------------------------------
ABI.org reported that as more consumers and small-business owners
skip the bank and turn instead to online lenders for loans,
policymakers in Washington, D.C., are looking more closely at the
operations.


[^] BOND PRICING: For the Week from November 16 to 20, 2015
-----------------------------------------------------------
   Company                  Ticker  Coupon Bid Price   Maturity
   -------                  ------  ------ ---------   --------
ACE Cash Express Inc        AACE     11.00     28.38   2/1/2019
ACE Cash Express Inc        AACE     11.00     35.00   2/1/2019
AM Castle & Co              CAS      12.75     77.00 12/15/2016
AM Castle & Co              CAS       7.00     51.88 12/15/2017
AM Castle & Co              CAS      12.75     76.75 12/15/2016
AM Castle & Co              CAS      12.75     76.75 12/15/2016
AMC Entertainment Inc       AMC       9.75    104.88  12/1/2020
Affinion Investments LLC    AFFINI   13.50     44.50  8/15/2018
Alpha Appalachia
  Holdings Inc              ANR       3.25      6.35   8/1/2015
Alpha Natural
  Resources Inc             ANR       9.75      1.50  4/15/2018
Alpha Natural
  Resources Inc             ANR       6.00      2.50   6/1/2019
Alpha Natural
  Resources Inc             ANR       6.25      1.00   6/1/2021
Alpha Natural
  Resources Inc             ANR       7.50      6.50   8/1/2020
Alpha Natural
  Resources Inc             ANR       3.75      3.00 12/15/2017
Alpha Natural
  Resources Inc             ANR       4.88      3.50 12/15/2020
Alpha Natural
  Resources Inc             ANR       7.50      6.00   8/1/2020
Alpha Natural
  Resources Inc             ANR       7.50      6.00   8/1/2020
Alta Mesa Holdings LP /
  Alta Mesa Finance
  Services Corp             ALTMES    9.63     51.75 10/15/2018
American Eagle Energy Corp  AMZG     11.00     18.50   9/1/2019
American Eagle Energy Corp  AMZG     11.00     18.50   9/1/2019
Appvion Inc                 APPPAP    9.00     35.75   6/1/2020
Appvion Inc                 APPPAP    9.00     45.00   6/1/2020
Arch Coal Inc               ACI       7.00      2.00  6/15/2019
Arch Coal Inc               ACI       7.25      2.15  6/15/2021
Arch Coal Inc               ACI       7.25      2.15  10/1/2020
Arch Coal Inc               ACI       9.88      1.10  6/15/2019
Arch Coal Inc               ACI       8.00      4.88  1/15/2019
Arch Coal Inc               ACI       8.00     11.65  1/15/2019
Avaya Inc                   AVYA     10.50     34.00   3/1/2021
Avaya Inc                   AVYA     10.50     33.00   3/1/2021
BPZ Resources Inc           BPZR      8.50      6.95  10/1/2017
BPZ Resources Inc           BPZR      6.50      7.30   3/1/2015
BPZ Resources Inc           BPZR      6.50      7.63   3/1/2049
Basic Energy Services Inc   BAS       7.75     35.93  2/15/2019
Bon-Ton Department
  Stores Inc/The            BONT      8.00     32.04  6/15/2021
Caesars Entertainment
  Operating Co Inc          CZR      10.00     32.00 12/15/2018
Caesars Entertainment
  Operating Co Inc          CZR      12.75     31.33  4/15/2018
Caesars Entertainment
  Operating Co Inc          CZR       6.50     37.13   6/1/2016
Caesars Entertainment
  Operating Co Inc          CZR       5.75     41.00  10/1/2017
Caesars Entertainment
  Operating Co Inc          CZR      10.00     31.75 12/15/2018
Caesars Entertainment
  Operating Co Inc          CZR       5.75     12.25  10/1/2017
Caesars Entertainment
  Operating Co Inc          CZR      10.00     31.13 12/15/2018
Caesars Entertainment
  Operating Co Inc          CZR      10.00     31.13 12/15/2018
Caesars Entertainment
  Operating Co Inc          CZR      10.00     31.13 12/15/2018
Chaparral Energy Inc        CHAPAR    7.63     22.00 11/15/2022
Chaparral Energy Inc        CHAPAR    9.88     30.88  10/1/2020
Chaparral Energy Inc        CHAPAR    8.25     24.75   9/1/2021
Chassix Holdings Inc        CHASSX   10.00      8.00 12/15/2018
Chassix Holdings Inc        CHASSX   10.00      8.00 12/15/2018
Claire's Stores Inc         CLE       8.88     40.12  3/15/2019
Claire's Stores Inc         CLE       7.75     28.00   6/1/2020
Claire's Stores Inc         CLE      10.50     69.13   6/1/2017
Claire's Stores Inc         CLE       7.75     28.00   6/1/2020
Cliffs Natural
  Resources Inc             CLF       5.95     50.00  1/15/2018
Cliffs Natural
  Resources Inc             CLF       4.88     23.02   4/1/2021
Cliffs Natural
  Resources Inc             CLF       5.90     28.00  3/15/2020
Cliffs Natural
  Resources Inc             CLF       4.80     24.00  10/1/2020
Colt Defense LLC /
  Colt Finance Corp         CLTDEF    8.75      4.01 11/15/2017
Colt Defense LLC /
  Colt Finance Corp         CLTDEF    8.75      3.71 11/15/2017
Colt Defense LLC /
  Colt Finance Corp         CLTDEF    8.75      3.71 11/15/2017
Community Choice
  Financial Inc             CCFI     10.75     15.86   5/1/2019
Comstock Resources Inc      CRK       7.75     20.75   4/1/2019
Comstock Resources Inc      CRK       9.50     25.00  6/15/2020
Constellation
  Enterprises LLC           CONENT   10.63     63.25   2/1/2016
Constellation
  Enterprises LLC           CONENT   10.63     70.63   2/1/2016
Cumulus Media
  Holdings Inc              CMLS      7.75     39.00   5/1/2019
Darden Restaurants Inc      DRI       3.35    104.50  11/1/2022
Darden Restaurants Inc      DRI       4.50    108.00 10/15/2021
Dendreon Corp               DNDN      2.88     71.63  1/15/2016
Dex Media Inc               DXM      12.00      3.51  1/29/2017
EPL Oil & Gas Inc           EXXI      8.25     33.00  2/15/2018
EXCO Resources Inc          XCO       7.50     31.00  9/15/2018
EXCO Resources Inc          XCO       8.50     24.00  4/15/2022
Emerald Oil Inc             EOX       2.00     30.22   4/1/2019
Endeavour
  International Corp        END      12.00      6.00   3/1/2018
Endeavour
  International Corp        END      12.00      6.00   3/1/2018
Endeavour
  International Corp        END      12.00      6.00   3/1/2018
Endo Finance LLC /
  Endo Finco Inc            ENDP      7.50    101.13 12/15/2020
Endo Health Solutions Inc   ENDP      7.00    103.75 12/15/2020
Energy & Exploration
  Partners Inc              ENEXPR    8.00     12.88   7/1/2019
Energy & Exploration
  Partners Inc              ENEXPR    8.00     12.88   7/1/2019
Energy Conversion
  Devices Inc               ENER      3.00      7.88  6/15/2013
Energy Future
  Holdings Corp             TXU       9.75     36.00 10/15/2019
Energy Future Intermediate
  Holding Co LLC /
  EFIH Finance Inc          TXU      10.00      2.50  12/1/2020
Energy Future Intermediate
  Holding Co LLC /
  EFIH Finance Inc          TXU      10.00      2.50  12/1/2020
Energy Future Intermediate
  Holding Co LLC /
  EFIH Finance Inc          TXU       6.88      2.35  8/15/2017
Energy XXI Gulf Coast Inc   EXXI      9.25     29.85 12/15/2017
Energy XXI Gulf Coast Inc   EXXI      6.88     20.28  3/15/2024
Energy XXI Gulf Coast Inc   EXXI      7.50     19.00 12/15/2021
Energy XXI Gulf Coast Inc   EXXI      7.75     22.43  6/15/2019
FBOP Corp                   FBOPCP   10.00      1.84  1/15/2009
FairPoint
  Communications Inc/Old    FRP      13.13      1.88   4/2/2018
Federal Home Loan Banks     FHLB      2.00    100.00 12/24/2020
Federal Home Loan Banks     FHLB      2.00    100.03 11/27/2020
Federal Home Loan Banks     FHLB      2.50     99.82  2/28/2023
Fleetwood Enterprises Inc   FLTW     14.00      3.56 12/15/2011
GT Advanced
  Technologies Inc          GTAT      3.00      9.50  10/1/2017
GT Advanced
  Technologies Inc          GTAT      3.00     11.35 12/15/2020
Getty Images Inc            GYI       7.00     31.20 10/15/2020
Goodman Networks Inc        GOODNT   12.13     30.63   7/1/2018
Goodrich Petroleum Corp     GDP       8.88     15.96  3/15/2019
Goodrich Petroleum Corp     GDP       8.88     32.00  3/15/2018
Goodrich Petroleum Corp     GDP       5.00     18.00  10/1/2032
Goodrich Petroleum Corp     GDP       8.88     55.38  3/15/2018
Goodrich Petroleum Corp     GDP       8.88     16.88  3/15/2019
Goodrich Petroleum Corp     GDP       8.88     16.88  3/15/2019
Gymboree Corp/The           GYMB      9.13     30.10  12/1/2018
Halcon Resources Corp       HKUS      9.75     31.75  7/15/2020
Halcon Resources Corp       HKUS      8.88     30.88  5/15/2021
Halcon Resources Corp       HKUS      9.25     30.25  2/15/2022
Horsehead Holding Corp      ZINC      3.80     43.00   7/1/2017
JPMorgan Chase & Co         JPM       5.75     98.21 12/15/2036
JW Aluminum Co              JWALUM   11.50     59.38 11/15/2017
JW Aluminum Co              JWALUM   11.50     59.25 11/15/2017
James River Coal Co         JRCC      7.88      0.55   4/1/2019
John Hancock Life
  Insurance Co              MFCCN     1.86     97.50 12/15/2015
Key Energy Services Inc     KEG       6.75     29.75   3/1/2021
Las Vegas Monorail Co       LASVMC    5.50      5.00  7/15/2019
Lehman Brothers
  Holdings Inc              LEH       4.00      5.75  4/30/2009
Lehman Brothers
  Holdings Inc              LEH       5.00      5.75   2/7/2009
Lehman Brothers Inc         LEH       7.50      6.13   8/1/2026
Linn Energy LLC / Linn
  Energy Finance Corp       LINE      8.63     25.99  4/15/2020
Linn Energy LLC / Linn
  Energy Finance Corp       LINE      6.25     23.25  11/1/2019
Linn Energy LLC / Linn
  Energy Finance Corp       LINE      6.50     26.25  5/15/2019
Linn Energy LLC / Linn
  Energy Finance Corp       LINE      7.75     20.17   2/1/2021
Linn Energy LLC / Linn
  Energy Finance Corp       LINE      6.50     19.00  9/15/2021
Linn Energy LLC / Linn
  Energy Finance Corp       LINE      6.25     23.25  11/1/2019
Linn Energy LLC / Linn
  Energy Finance Corp       LINE      6.25     23.25  11/1/2019
Logan's Roadhouse Inc       LGNS     10.75     60.95 10/15/2017
MF Global Holdings Ltd      MF        6.25     15.25   8/8/2016
MF Global Holdings Ltd      MF        3.38      1.85   8/1/2018
MF Global Holdings Ltd      MF        9.00      1.85  6/20/2038
MModal Inc                  MODL     10.75     10.13  8/15/2020
Magnetation LLC /
  Mag Finance Corp          MAGNTN   11.00     25.00  5/15/2018
Magnetation LLC /
  Mag Finance Corp          MAGNTN   11.00     18.50  5/15/2018
Magnetation LLC /
  Mag Finance Corp          MAGNTN   11.00     18.50  5/15/2018
Magnum Hunter
  Resources Corp            MHRC      9.75     39.95  5/15/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO      10.75     17.00  10/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO       9.25     17.50   6/1/2021
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO      10.75     17.25  10/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO      10.75     17.25  10/1/2020
Modular Space Corp          MODSPA   10.25     48.97  1/31/2019
Modular Space Corp          MODSPA   10.25     58.50  1/31/2019
Molycorp Inc                MCP      10.00      5.25   6/1/2020
Murray Energy Corp          MURREN   11.25     24.50  4/15/2021
Murray Energy Corp          MURREN   11.25     32.00  4/15/2021
Murray Energy Corp          MURREN    9.50     25.00  12/5/2020
Murray Energy Corp          MURREN    9.50     25.00  12/5/2020
Navient Corp                NAVI      2.25     95.88 12/15/2015
New Gulf Resources LLC/
  NGR Finance Corp          NGREFN   12.25     26.88  5/15/2019
New Gulf Resources LLC/
  NGR Finance Corp          NGREFN   12.25     26.88  5/15/2019
New Gulf Resources LLC/
  NGR Finance Corp          NGREFN   12.25     26.88  5/15/2019
Nine West Holdings Inc      JNY       6.88     33.30  3/15/2019
Noranda Aluminum
  Acquisition Corp          NOR      11.00     10.30   6/1/2019
Nuverra Environmental
  Solutions Inc             NES       9.88     38.50  4/15/2018
OMX Timber Finance
  Investments II LLC        OMX       5.54     12.05  1/29/2020
Peabody Energy Corp         BTU       6.00     19.90 11/15/2018
Peabody Energy Corp         BTU      10.00     23.94  3/15/2022
Peabody Energy Corp         BTU       6.25     15.25 11/15/2021
Peabody Energy Corp         BTU       6.50     15.00  9/15/2020
Peabody Energy Corp         BTU       4.75      5.25 12/15/2041
Peabody Energy Corp         BTU       7.88     13.55  11/1/2026
Peabody Energy Corp         BTU      10.00     25.75  3/15/2022
Peabody Energy Corp         BTU       6.00     20.13 11/15/2018
Peabody Energy Corp         BTU       6.00     20.13 11/15/2018
Peabody Energy Corp         BTU       6.25     15.00 11/15/2021
Peabody Energy Corp         BTU       6.25     15.00 11/15/2021
Penn Virginia Corp          PVA       8.50     27.25   5/1/2020
Penn Virginia Corp          PVA       7.25     23.00  4/15/2019
Permian Holdings Inc        PRMIAN   10.50     42.75  1/15/2018
Permian Holdings Inc        PRMIAN   10.50     42.75  1/15/2018
Prospect Capital Corp       PSEC      6.25     98.00 12/15/2015
Prospect Holding Co LLC /
  Prospect Holding
  Finance Co                PRSPCT   10.25     52.50  10/1/2018
Prospect Holding Co LLC /
  Prospect Holding
  Finance Co                PRSPCT   10.25     54.00  10/1/2018
Quicksilver Resources Inc   KWKA      9.13      7.00  8/15/2019
Quicksilver Resources Inc   KWKA     11.00      6.75   7/1/2021
Quiksilver Inc /
  QS Wholesale Inc          ZQK      10.00      8.50   8/1/2020
RAAM Global Energy Co       RAMGEN   12.50      8.75  10/1/2015
RS Legacy Corp              RSH       6.75      0.14  5/15/2019
RS Legacy Corp              RSH       6.75      0.14  5/15/2019
Sabine Oil & Gas Corp       SOGC      7.25     14.25  6/15/2019
Sabine Oil & Gas Corp       SOGC      9.75      7.93  2/15/2017
Sabine Oil & Gas Corp       SOGC      7.50      9.66  9/15/2020
Sabine Oil & Gas Corp       SOGC      7.50     12.63  9/15/2020
Sabine Oil & Gas Corp       SOGC      7.50     12.63  9/15/2020
Samson Investment Co        SAIVST    9.75      1.50  2/15/2020
SandRidge Energy Inc        SD        7.50     17.00  3/15/2021
SandRidge Energy Inc        SD        8.75     17.50  1/15/2020
SandRidge Energy Inc        SD        8.13     16.50 10/15/2022
SandRidge Energy Inc        SD        7.50     15.00  2/15/2023
SandRidge Energy Inc        SD        8.13     24.00 10/16/2022
SandRidge Energy Inc        SD        7.50     25.32  2/16/2023
SandRidge Energy Inc        SD        7.50     16.50  3/15/2021
SandRidge Energy Inc        SD        7.50     16.50  3/15/2021
Sequa Corp                  SQA       7.00     33.25 12/15/2017
Sequa Corp                  SQA       7.00     33.00 12/15/2017
Seventy Seven Energy Inc    SSE       6.50     23.04  7/15/2022
Sigma-Aldrich Corp          SIAL      3.38    102.86  11/1/2020
SquareTwo Financial Corp    SQRTW    11.63     62.00   4/1/2017
SunEdison Inc               SUNE      2.00     40.00  10/1/2018
Swift Energy Co             SFY       7.88     17.90   3/1/2022
Swift Energy Co             SFY       7.13      9.05   6/1/2017
Swift Energy Co             SFY       8.88     13.00  1/15/2020
TMST Inc                    THMR      8.00     15.95  5/15/2013
Talos Production LLC /
  Talos Production
  Finance Inc               TALPRO    9.75     48.25  2/15/2018
Talos Production LLC /
  Talos Production
  Finance Inc               TALPRO    9.75     46.88  2/15/2018
Terrestar Networks Inc      TSTR      6.50     10.00  6/15/2014
TetraLogic
  Pharmaceuticals Corp      TLOG      8.00     45.00  6/15/2019
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU      10.25      9.50  11/1/2015
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU      15.00      9.00   4/1/2021
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU      11.50     34.50  10/1/2020
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU      10.25      9.50  11/1/2015
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU      10.50     13.25  11/1/2016
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU      15.00      8.50   4/1/2021
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU      11.50     37.75  10/1/2020
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU      10.50     12.63  11/1/2016
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU      10.25      9.63  11/1/2015
Venoco Inc                  VQ        8.88     15.20  2/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc           VRS      11.75     17.00  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc           VRS      11.75     12.25  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc           VRS      11.75      3.49  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc           VRS      13.00      7.00   8/1/2020
Verso Paper Holdings LLC /
  Verso Paper Inc           VRS       8.75      1.60   2/1/2019
Verso Paper Holdings LLC /
  Verso Paper Inc           VRS      11.75     17.38  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc           VRS      11.75      1.49  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc           VRS      11.75      1.49  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc           VRS      11.75     17.38  1/15/2019
Walter Energy Inc           WLTG      9.50     32.00 10/15/2019
Walter Energy Inc           WLTG     11.00      1.00   4/1/2020
Walter Energy Inc           WLTG      8.50      0.25  4/15/2021
Walter Energy Inc           WLTG      9.50     31.75 10/15/2019
Walter Energy Inc           WLTG      9.50     31.75 10/15/2019
Walter Energy Inc           WLTG      9.50     31.75 10/15/2019
Warren Resources Inc        WRES      9.00     20.50   8/1/2022
Warren Resources Inc        WRES      9.00     21.13   8/1/2022
Warren Resources Inc        WRES      9.00     21.13   8/1/2022
iHeartCommunications Inc    IHRT     10.00     36.00  1/15/2018
iHeartCommunications Inc    IHRT      6.88     48.43  6/15/2018


                            *********

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 ***