TCR_Public/151124.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, November 24, 2015, Vol. 19, No. 328

                            Headlines

ALLIANCE COMMUNITY: S&P Lowers Rating on Revenue Bonds to 'BB+'
ALLY FINANCIAL: Fitch Rates $750MM Subordinated Debt Issuance 'BB'
ALLY FINANCIAL: To Redeem All Remaining Series G Preferred Shares
AMERICAN APPAREL: Creditors Say Plan Disclosure Ignores CEO Suits
AMERICAN APPAREL: Plan Confirmation Hearing Set for Jan. 20

APPLIED MINERALS: Gets Initial Commercial Order for Dragonite Clay
APPLIED MINERALS: To Auction 1,000 Acres of Real Estate Holdings
ARQUETIPO INC: Case Summary & 6 Largest Unsecured Creditors
AURORA DIAGNOSTICS: Incurs $4.70 Million Net Loss in Third Quarter
BERNARD L. MADOFF: Trustee Calls for $1.1M Clawback Case Judgment

BGM PASADENA: Case Summary & 17 Largest Unsecured Creditors
BLACK ELK ENERGY: Indicted in Oil-Platform Explosion
BOOZ ALLEN: Moody's Raises CFR to Ba2, Outlook Stable
BRANTLEY LAND: Secured Creditor No Longer Consents to Cash Use
BREF HR: Incurs $31.9 Million Net Loss in Third Quarter

BROADVIEW NETWORKS: Incurs $1.94 Million Net Loss in Third Quarter
BUNKERS INTERNATIONAL: Committee Objection to ABS Deal Overruled
BUNKERS INTERNATIONAL: Court Allows $203K ARC Claim
CAESARS ENTERTAINMENT: Court Delays Plan Outline Hearing
CANNERY CASINO: Moody's Confirms 'Caa1' CFR, Outlook Negative

CENTRIX FINANCIAL: Court Reopens $100M Fraudulent Transfer Suit
CENTURY CONTROL: Voluntary Chapter 11 Case Summary
CHATEAU AMORE: Case Summary & Largest Unsecured Creditor
CHICAGO BOARD: S&P Puts GO Bonds' 'BB' Rating on CreditWatch Neg.
COLT DEFENSE: Court OKs Amendment to Term DIP Credit Agreement

CON-WAY INC: Moody's Withdraws 'B3' Sr. Unsecured Debt Rating
COUDERT BROTHERS: Resolves Clawback Suits Against Ex-Partners
COYNE INTERNATIONAL: Seeks Until Feb. 26 to File Ch. 11 Plan
CRAILAR INC: Chapter 15 Case Summary
D'ELIA WITTKOFSKI: Case Summary & 20 Largest Unsecured Creditors

DIGITAL RIVER: Moody's Affirms B2 CFR, Outlook Stable
ERF WIRELESS: Manny Carter Resigns as Director
ESSAR STEEL: Holding's Chapter 15 Case Summary
F-SQUARED INVESTMENT: Plan Filing Exclusivity Extended to March 4
FEDERATION EMPLOYMENT: To Sell Interests in Manhattan Apartment

FREESEAS INC: Announces New Charter for Vessel
FTE NETWORKS: Announces Initial Settlement Date for Tender Offer
GENESYS RESEARCH: Trustee Has Deal With Former Employee
GUIDED THERAPEUTICS: Incurs $2.73-Mil. Net Loss in Third Quarter
GUIDED THERAPEUTICS: Stockholders OK Hike of Authorized Shares

GUNBOAT INTERNATIONAL: Files for Chapter 11 Bankruptcy Protection
H. KREVIT AND COMPANY: Hires Joseph Vitale as Corporate Counsel
H. KREVIT AND COMPANY: Seeks Joint Administration of Cases
H. KREVIT AND COMPANY: Taps TNCP LLC as Financial Advisors
H. KREVIT AND COMPANY: Wants Dec. 15 Deadline to File Schedules

HD SUPPLY: Presented at Robert W. Baird Conference
HEALTHWAREHOUSE.COM INC: Melrose OKs Increase of Sr. Notes to $1M
HI-CRUSH PARTNERS: S&P Revises Outlook to Neg. & Affirms 'B+' CCR
HOUGHTON MIFFLIN: Fitch Affirms 'B+' Issuer Default Ratings
IMH FINANCIAL: Incurs $7.1 Million Net Loss in Third Quarter

IMH FINANCIAL: Outside Directors Invest in Company Subsidiary
IMH FINANCIAL: Repays $28.8 Million Loans
KATE SPADE: S&P Revises Outlook to Positive & Affirms 'B+' CCR
LANNETT CO: S&P Affirms 'B+' CCR, Outlook Stable
LANNETT COMPANY: Moody's Lowers CFR to B2, Outlook Stable

LIME ENERGY: Posts $1.47 Million Net Income for Third Quarter
LPATH INC: Incurs $2.22 Million Net Loss in Third Quarter
MERITOR INC: S&P Revises Outlook to Positive & Affirms 'B+' CCR
METLCAST INDUSTRIES: Case Summary & 4 Top Unsecured Creditors
METRO ROOFING: Case Summary & 17 Largest Unsecured Creditors

MF GLOBAL: Mediation Set for Disputes on Settlements
MIG LLC: Has Until Dec. 30 to File Ch. 11 Plan
MILESTONE SCIENTIFIC: Incurs $1.6 Million Net Loss in 3rd Quarter
MISSION NEW ENERGY: Posts $28.3 Million Profit for Fiscal 2015
MOTORS LIQUIDATION: Has $613-Mil. Net Assets in Liquidation

MULTI PACKAGING SOLUTIONS: S&P Affirms 'B' CCR, Outlook Stable
NATIONAL HOCKEY: Wins Partial Summary Judgment in Suit vs. Moyes
NEPHROS INC: Reports 2015 Third Quarter Financial Results
NEW DAWN ASSISTED: 8 Affiliates' Chapter 11 Case Summary
NNN MET CENTER: Reports $23.5MM Secured Claim Against Property

NO PLACE LIKE HOME: Case Summary & 20 Largest Unsecured Creditors
OLGA'S KITCHEN: Team Schostak & Cosmo Hospitality Vying for Assets
OW BUNKER: NuStar Wants Cases Converted to Ch. 7
PATRIOT COAL: Peabody Wrangle Over Choice of Benefit Battlefield
PHOENIX COYOTES: Court Says Ex-Owner Can Pay Fees from Bankruptcy

PHYSICAL PROPERTY: Incurs HK$186,000 Net Loss in Third Quarter
PLASTIC2OIL INC: Posts $850,000 Net Loss for Third Quarter
PORTER BANCORP: Files Third Quarter Form 10-Q
POSITIVEID CORP: Incurs $125,000 Net Loss in Third Quarter
PRECISION ENGINEERED: S&P Withdraws 'B+' Corporate Credit Rating

PRECISION OPTICS: Incurs $382,000 Net Loss in First Quarter
PRESSURE BIOSCIENCES: Chief Financial Officer Resigns
PRESSURE BIOSCIENCES: Incurs $656,000 Net Loss in Third Quarter
PUTNAM ENERGY: Dec. 2 Hearing on Bid to Convert Ch. 11 Case
PUTNAM ENERGY: Hearing on Cash Collateral Use Continued to Dec. 2

QUEST SOLUTION: Posts $697,000 Net Income for Third Quarter
QUIKSILVER INC: Unsecured Creditors to Recover 2.7% Under Plan
QUIRKY INC: Judge Approves Sale of Wink Assets to Flextronics
RCB BANK: Moody's Raises Deposit Ratings to B3, Outlook Stable
REICHHOLD HOLDINGS: Plan Goes to Jan. 13 Confirmation Hearing

RELATIVITY MEDIA: Files Ch 11 Plan, Aims Bankruptcy Exit in 2016
RESTORGENEX CORP: Incurs $13.2 Million Net Loss in Third Quarter
RICEBRAN TECHNOLOGIES: Incurs $1.57-Mil. Net Loss in 3rd Quarter
SABINE OIL: Has Until Dec. 16 to File Chapter 11 Plan
SABINE OIL: Nov. 24 Hearing on Performance Award Program Approval

SABLE NATURAL: Incurs $547,000 Net Loss in Third Quarter
STANDARD REGISTER: Court Confirms Ch. 11 Liquidation Plan
SUNTECH AMERICA: Files Chapter 11 Liquidation Plan
SYNOVUS FINANCIAL: Fitch Corrects Nov. 18 Press Release
TELKONET INC: Posts $269,000 Net Income for Third Quarter

TERRAFORM GLOBAL: S&P Affirms 'B' CCR & Revises Outlook to Neg.
TRANS ENERGY: Terminates Michael Guzzetta as Treasurer
TUNICA-BILOXI GAMING: S&P Withdraws 'D' Issuer Credit Rating
UNI-PIXEL INC: May Issue 800,000 Shares Under 2011 Stock Plan
VERMILLION INC: Incurs $5.14 Million Net Loss in Third Quarter

VERSO PAPER: May Sell 4 Mills Due to Drop in Coated Paper Demand
VICTORY ENERGY: Signs LOI to Acquire Proved Producing Reserves
VUZIX CORP: Reports $2.81 Million Net Loss for Third Quarter
WAFERGEN BIO-SYSTEMS: Incurs $3.47-Mil. Net Loss in Third Quarter
WHISKEY ONE: Members Seek Appointment of Chapter 11 Trustee

WHISKEY ONE: Opposes Bid for Declaration of "SARE" Status
WHISKEY ONE: Taps Thomas A. Weigand to Appraise Property
WHISKEY ONE: Wants Until Feb. 10 to Propose Chapter 11 Plan
ZERGA PHIN-KER: Case Summary & 20 Largest Unsecured Creditors
ZLOOP INC: Creditor Balks at Approval of Cash Collateral Access

ZOHAR CDO 2003-1: Involuntary Chapter 11 Case Summary
ZOHAR CDO 2003: Patriarch Files Involuntary Chapter 11 Petition
[*] 2015 North American Exploration & Production Ch.11 Filings Rise
[*] Two Former Irell & Manella Partners Join Weiland Golden
[^] Large Companies with Insolvent Balance Sheet


                            *********

ALLIANCE COMMUNITY: S&P Lowers Rating on Revenue Bonds to 'BB+'
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its underlying rating
(SPUR) on Alliance, Ohio's revenue bonds, issued for Alliance
Community Hospital (ACH), one notch to 'BB+' from 'BBB-'.  The
outlook is stable.

Under the revised criteria, the rating service assessed ACH's
enterprise profile as adequate, characterized by weak economic
fundamentals in a small service area with decreasing business
volume.  Standard & Poor's also assessed its financial profile as
adequate, characterized by modest improvement in overall finances;
operating performance, however, remains slim.  In addition, the
debt structure is aggressive, in that overall contingent
liabilities, such as variable-rate and direct-purchase debt, exceed
unrestricted reserves.  ACH's limited revenue base, with net
patient revenue below $125 million, which Standard & Poor's
classifies as a small hospital under its criteria, also contributes
to the rating decision.  Combined, the rating service thinks these
credit factors lead to an indicative rating level of 'bb+' and a
final rating of 'BB+'.

"We could revise the outlook to positive or raise the rating over
the longer term if ACH were to expand its service area with a
commensurate growth in market share and patient volume, combined
with a sustainable improvement in operating performance, cash flow,
and balance sheet metrics," said Standard & Poor's credit analyst
Margaret McNamara.  "We could lower the rating further over the
longer term if ACH were to report continued volume decreases or if
operating results were to weaken, generating lower debt service
coverage, or if the balance sheet were to deteriorate measurably."

A gross revenue pledge and a mortgage on the hospital facility
secure the bonds.



ALLY FINANCIAL: Fitch Rates $750MM Subordinated Debt Issuance 'BB'
------------------------------------------------------------------
Fitch Ratings has assigned a 'BB' rating to Ally Financial Inc.'s
$750 million, 5.75% subordinated debt issuance due 2025. Proceeds
of the issuance are expected to be used to redeem the company's
fixed-rate cumulative perpetual preferred stock, series G.

KEY RATING DRIVERS - SUBORDINATED DEBT

The 'BB' rating reflects the subordinated nature of the debt
relative to Ally's senior secured and senior unsecured debt
obligations. As a result, the subordinated debt is rated one notch
below Ally's Issuer Default Rating (IDR) of 'BB+'.

RATING SENSITIVITIES - SUBORDINATED DEBT

The rating is one notch below Ally's IDR, and therefore would be
expected to move in tandem with any change in Ally's IDR.
Additionally, the notching between the subordinated debt and the
IDR could widen to the extent that Fitch's view of the recovery
prospects for the subordinated debt decreased.

Fitch has assigned the following rating:

Ally Financial Inc.

-- $750 million 5.75% subordinated notes due 2025 'BB'.



ALLY FINANCIAL: To Redeem All Remaining Series G Preferred Shares
-----------------------------------------------------------------
Ally Financial Inc. announced that it received approval from the
Federal Reserve to redeem 1,288,301 shares of its Fixed Rate
Cumulative Perpetual Preferred Stock, Series G (Series G Preferred
Shares).  The shares will be redeemed at a price of $1,000 per
share plus all accrued and unpaid dividends through the redemption
date, for a total of $1,005.64 per share.  The redemption date will
be Dec. 14, 2015.

"The elimination of all remaining Series G Preferred Shares will
decrease our preferred dividend burden and allow the company to
optimize future capital management to drive shareholder value,"
said Chief Executive Officer Jeffrey Brown.  "Addressing this
remaining legacy security will remove the restriction the company
had on offering common equity distributions and position Ally to
meet its objective of initiating a dividend and share repurchase
program in 2016."

The terms of the Series G Preferred Shares, which were developed
during the financial crisis, prohibited the company from offering a
dividend on common equity shares.  In April 2015, Ally redeemed
approximately $1.3 billion of its Series G Preferred Shares.

The notice of redemption and related materials were delivered today
to registered holders of record of the Series G Preferred Shares.
Questions relating to and requests for additional copies of the
notice of redemption and related materials should be directed to
the redemption agent, Computershare Trust Company, N.A., c/o
Computershare Inc., Corporate Actions, 250 Royall Street, Canton,
MA 02021, Attention: Reorganization Department at 855-396-2084.

                        About Ally Financial

Ally Financial Inc., formerly GMAC Inc. -- http://www.ally.com/--
is one of the world's largest automotive financial services
companies.  The Company offers a full suite of automotive
financing products and services in key markets around the world.
Ally's other business units include mortgage operations and
commercial finance, and the company's subsidiary, Ally Bank,
offers online retail banking products.  Ally operates as a bank
holding company.

GMAC obtained a $17 billion bailout from the U.S. government in
exchange for a 56.3 percent stake.  Private equity firm Cerberus
Capital Management LP keeps 14.9 percent, while General Motors Co.
owns 6.7 percent.

As of Sept. 30, 2015, the Company had $156 billion in total assets,
$142 billion in total liabilities, and $14.6 billion in total
equity.

                           *     *     *

As reported by the TCR on Dec. 16, 2013, Standard & Poor's Ratings
Services said it raised its issuer credit rating on Ally Financial
Inc. to 'BB' from 'B+'.  "The upgrade reflects the company's
release from potential legal and financial liabilities stemming
from its ownership of ResCap," said Standard & Poor's credit
analyst Tom Connell.

In the April 3, 2014, edition of the TCR, Fitch Ratings has
upgraded Ally Financial Inc.'s long-term Issuer Default Rating
(IDR) and senior unsecured debt rating to 'BB+' from 'BB'.
The rating upgrade reflects increased clarity around Ally's
ownership structure given Ally's recent announcement that it has
launched an initial public offering those shares of its common
stock held by the U.S. Treasury (the Treasury).

As reported by the TCR on July 16, 2014, Moody's Investors Service
affirmed the 'Ba3' corporate family and 'B1' senior unsecured
ratings of Ally Financial, Inc. and revised the outlook for the
ratings to positive from stable.  Moody's affirmed Ally's ratings
and revised its rating outlook to positive based on the company's
progress toward sustained improvements in profitability and
repayment of government assistance received during the financial
crisis.


AMERICAN APPAREL: Creditors Say Plan Disclosure Ignores CEO Suits
-----------------------------------------------------------------
Kali Hays at Bankruptcy Law360 reported that American Apparel's
official committee of unsecured creditors on Nov. 12, 2015, railed
against the retailer's disclosure statement regarding its
reorganization plan, telling a bankruptcy court it contains no
information on pending litigation against former CEO Dov Charney,
among other shortcomings.

The committee said the disclosure statement cannot be approved in
its current form, not just because American Apparel Inc. has been
in Chapter 11 bankruptcy for just over a month and its proposed
reorganization is plagued with various "infirmities."

                      About American Apparel

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

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

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

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


AMERICAN APPAREL: Plan Confirmation Hearing Set for Jan. 20
-----------------------------------------------------------
A hearing to consider confirmation of American Apparel, Inc., et
al.'s Joint Plan of Reorganization will be held before Judge
Brendan L. Shannon of the U.S. Bankruptcy Court for the District of
Delaware on Jan. 20, 2016 at 10:00 a.m. (prevailing Eastern Time).

The Plan will allow the Debtors to strengthen their balance sheet
by converting over $200 million of Prepetition indebtedness into
Reorganized American Apparel Equity Interests and enabling the
Debtors to obtain a material infusion of new equity and debt
capital upon emergence that will permit the Debtors to exit
bankruptcy protection expeditiously and with sufficient liquidity
to implement their business plan.  In addition, the Plan will
provide distributions to general unsecured creditors in the form
of
units in a litigation trust and, to each class of general
unsecured
creditors that accepts the Plan, a portion of a $1 million cash
payment.

The GUC Payment will be divided as follows:

   -- $10,000 for GUCs against American Apparel, Inc.
   -- $517,000 for GUCs against American Apparel (USA), LLC
   -- $470,000 for GUCs against American Apparel Retail, Inc.
   -- $1,000 for GUCs against American Apparel Dyeing & Finishing
   -- $1,000 for GUCs against KCL Knitting, LLC
   -- $1,000 for GUCs against Fresh Air Freight, Inc.

Parties who support the Plan include 100% of the lenders under the
Prepetition ABL Facility, holders of over 95% in amount of the
Prepetition Notes, and lenders under the Lion Credit Facility and
the UK Loan.

The Disclosure Statement explaining the Debtors' Plan was approved
by Judge Shannon on Nov. 20.  Any objections or responses to the
Disclosure Statement that have not been withdrawn, waived or
settled were overruled.  The Debtors have since revised the Oct. 15
Plan to address certain ministerial changes as well as make
modifications that were the result of discussions with various
parties since the filing of the Oct. 15 Plan.

The Official Committee of Unsecured Creditors, certain landlords,
and Dov Charney, former chief executive officer of the Debtors,
separately filed Disclosure Statement Objections in which they
dispute a number of the facts.  The objection of the Creditors'
Committee focused on the Disclosure Statement's alleged lack of
adequate information regarding a variety of pending litigations
including, among many others, claims against Mr. Charney, causes of
action against the Debtors' other directors and officers, and
causes of action implicating certain of the Debtors' secured
lenders and board members including those related to Standard
General L.P. and its affiliates.

The Debtors, in response to the Creditors' Committee's objection,
argued that the Committee's objection "can be summed up as a
reckless attack on a company that earnestly has been attempting to
marshall all of its creditors toward the common goal of emerging
with significant liquidity and a stronger balance sheet in order to
do what is in the best interests of its stakeholders and the
business -- and that is confirm the Plan so it can execute its
turnaround plan, retain its several thousands of employees and
continue doing business with its vendors and suppliers, many of
whom sit on the Committee."  The Debtors have reviewed Mr.
Charney's objection and have made modifications to the Disclosure
Statement where they believed it was appropriate.

The Committee of Lead Lenders joined in the Debtors' omnibus reply
to the Disclosure Statement objections.

A full-text copy of the Disclosure Statement dated Nov. 20, 2015,
is available at http://bankrupt.com/misc/AAds1120.pdf

Objections, if any, to the confirmation of the Plan must be
received no later than Jan. 7.

The Debtors are represented by Laura Davis Jones, Esq., James E.
O'Neill, Esq., and Joseph M. Mulvihill, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware; Richard L. Wynne, Esq.,
and Erin N. Brady, Esq., at Jones Day, in Los Angeles, California;
and Scott J. Greenberg, Esq., at Jones Day, in New York.

The Creditors' Committee is represented by Domenic E. Pacitti,
Esq., and Richard M. Beck, Esq., at Klehr Harrison Harvey Branzburg
LLP, in Wilmington, Delaware; David M. Posner, Esq., and Gianfranco
Finizio, Esq., at Kilpatrick Townsend & Stockton LLP, in New York;
and Todd C. Meyers, Esq., and Paul Rosenblatt, Esq., at Kilpatrick
Townsend & Stockton LLP, in Atlanta, Georgia.

The Committee of Lead Lenders is represented by:

         Jeffrey M. Schlerf, Esq.
         L. John Bird, Esq.
         FOX ROTHSCHILD LLP
         919 North Market Street, Suite 300
         Wilmington, DE 19801
         Telephone: (302) 654-7444
         Facsimile: (302) 656-8920
         Email: jschlerf@foxrothschild.com
                lbird@foxrothschild.com

            -- and --

         Gerard Uzzi, Esq.
         Bradley Scott Friedman, Esq.
         MILBANK, TWEED, HADLEY & McCLOY LLP
         28 Liberty Street
         New York, NY 10005
         Telephone: (212) 530-5000
         Facsimile: (212) 822-5846
         Email: guzzi@milbank.com
                bfriedman@milbank.com

                      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.


APPLIED MINERALS: Gets Initial Commercial Order for Dragonite Clay
------------------------------------------------------------------
Applied Minerals, Inc., has received an initial commercial supply
order for its DRAGONITE Halloysite Clay from a leading global
specialty chemicals company (the "Customer") for use in a specialty
zeolite application.

Following a cooperative development process dating back to 2014,
the Company received an initial purchase order of $228,000 from the
Customer. Applied Minerals will deliver its DRAGONITE to the
Customer throughout the fourth calendar quarter of 2015 and first
calendar quarter of 2016.  After the fulfillment of this initial
purchase order, the Company anticipates the receipt of additional
purchase orders from the Customer.

Andre Zeitoun, president and CEO of Applied Minerals, commented:
"We are excited to announce yet another commercial milestone for
Applied Minerals, this time for the commercial supply of Dragonite
Halloysite Clay for use in a specialty zeolite molecular sieve.  We
believe that this contract marks the initial stage of a long-term
relationship with this industry leader and serves as a validation
of our product in a key end market application with significant
market potential.  We continue to have active, ongoing discussions
related to a number of commercial projects in both catalysts and
molecular sieves and we expect further product commercialization in
2016."

History of Dragon Mine Halloysite Used in Catalysts

Halloysite from Applied Minerals' Dragon Mine has a long history of
providing value-added solutions to the catalyst and adsorbent
industry.  Between 1949 and 1976, The Filtrol Corporation
(Filtrol), the largest producer of petroleum refining catalysts
before being split up and acquired by both Albemarle and Akzo
Nobel, mined and supplied over 1.1 million tons of halloysite from
the Dragon Mine for use in its FCC hydrocracking and hydrotreating
catalysts in addition to catalyst supports.  The product was
regarded as one of the most effective catalysts on the market,
especially for the refining of higher sulfur crude oils until an
underground fire at the mine in 1976 ceased production and
discontinued its availability.
  
Appointment of Dr. Geoff Wilson as Technical and Commercial
Advisor

As part of the Company's effort to target the highest and best uses
of its Dragonite product, a significant amount of effort has been
committed to reintroducing the Company's halloysite clay solution
to the catalyst and adsorbent market.  To this end, the Company has
engaged Dr. Geoff Wilson, a respected industry veteran and former
senior executive of Filtrol during the period it operated the
Dragon Mine.  Dr. Wilson was closely involved with both the
technical and commercial aspects of Filtrol's Dragon
Halloysite-based catalysts and continues to be an active leader the
industry today.

Mr. Zeitoun, continued: "We are incredibly fortunate to have
connected with Dr. Wilson.  He has an incredible wealth of
experience, information and industry contacts in the catalyst and
molecular sieve markets.  We are honored and excited to have him as
part of our advisory team and are highly confident that his
contribution will be invaluable to the Company's commercialization
efforts."

Geoff Wilson, commented: 'I am excited to be part of the Applied
Minerals team.  While Dragon Halloysite was used extensively prior
to the closure of the mine in 1976, I believe that the unique
structure of the mineral was not fully exploited in its previous
uses.  Consequently, there exist many potential breakthroughs in
applying halloysite in the context of modern day refining
processes, including FCC and hydrocracking as well as in the field
of specialty adsorbents."

                      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.  As of Dec. 31, 2014, the Company had $18.5 million in
total assets, $26 million in total liabilities, and a $7.51 million
total stockholders' deficit.


APPLIED MINERALS: To Auction 1,000 Acres of Real Estate Holdings
----------------------------------------------------------------
Applied Minerals, Inc., disclosed it will auction 1,000 acres of
its non-core real estate holdings located in Shoshone County,
Idaho.

The auction is scheduled for Dec. 15, 2015, at 1:00 p.m. Pacific
time (4:00 p.m. Eastern time) and will be held at the Coeur d'Alene
Resort in Coeur d'Alene, Idaho.  J.P. King Auction Company is
managing the auction process.  These legacy properties are not
related to the Company's halloysite clay and iron oxide
operations.

Full details regarding the properties can be found by visiting the
following link: Historic Atlas Mine Properties or by contacting
J.P. King Auction Company at 1-800-558-5464.  The 1,000 acres of
non-core real estate holdings to be auctioned include:

1. Historic Atlas Mine Property (Reserve) - Mullan, Idaho

Comprised of 705 patented acres of land (38 mining claims),185
leased acres of land (9 unpatented mining claims) and three mining
portals.  It is located off Interstate 90, situated between Lookout
Pass Ski Resort and historic Wallace, Idaho.  Property provides for
a number of commercial and recreational development opportunities.

2. Trapper Creek Property (Absolute) - Pinehurst, Idaho

Consists of approximately 97 patented acres of land (5 patented
mining claims) and is situated between Trapper Creek and East Fork
Pine Creek.  The property is timbered, has a portal and offers
recreation opportunities.

3. Aulbach Property (Absolute) - Murray, Idaho

Consists of approximately 95 patented acres of land (5 patented
mining claims) and developed logging roads.  This forested property
would provide for development and recreational opportunities.

4. Sisters Property (Absolute) - Wallace, Idaho

Consists of 120 patented acres of land (6 patented mining claims)
located near the Woodland Park area of Wallace, Idaho.  Partially
timbered acreage would provide for development and recreation
opportunities.  Property also contains three "mineral rights only"
parcels (32 acres) located west of Canyon Creek and adjoining the
patented land.

                        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.  As of Dec. 31, 2014, the Company had $18.5 million in
total assets, $26 million in total liabilities, and a $7.51 million
total stockholders' deficit.


ARQUETIPO INC: Case Summary & 6 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Arquetipo Inc.
        1762 Ponce De Leon Avenue
        San Juan, PR 00909

Case No.: 15-09239

Chapter 11 Petition Date: November 22, 2015

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

Debtor's Counsel: Hector Eduardo Pedrosa Luna, Esq.
                  THE LAW OFFICES OF HECTOR EDUARDO PEDROSA LUNA
                  P O BOX 9023963
                  San Juan, PR 00902-3963
                  Tel: 787-930-2625
                  Fax: 787-754-1109
                  Email: hectorpedrosa@gmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Julio C. Cintron Argueso, president.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb15-09239.pdf


AURORA DIAGNOSTICS: Incurs $4.70 Million Net Loss in Third Quarter
------------------------------------------------------------------
Aurora Diagnostics Holdings, LLC, filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $4.70 million on $69.7 million of net revenue for the
three months ended Sept. 30, 2015, compared to a net loss of $7.32
million on $63.04 million of net revenue for the same period last
year.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $61.4 million on $194 million of net revenue compared
to a net loss of $16.8 million on $181 million of net revenue for
the same period in 2014.

As of Sept. 30, 2015, the Company had $281 million in total assets,
$450 million in total liabilities and a $169 million members'
deficit.

Aurora Diagnostics held a conference call to review its results for
the quarter ended Sept. 30, 2015, on Nov. 17, 2015.

The Company provided a live internet webcast of the conference
call, as well as an archived replay, all of which can be accessed
from the Company's Investor Relations page at www.auroradx.com.  In
addition, a telephonic replay of the conference call will be
available through midnight on Monday, Nov. 23, 2015, and can be
accessed by dialing (855) 859-2056 (toll free) or (404) 537-3406.
Please reference conference ID# 79653053.

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

                      http://is.gd/3Uy33X

                     About Aurora Diagnostics

Headquartered in Palm Beach Gardens, Florida, Aurora Diagnostics
Holdings, LLC, through its subsidiaries, provides physician-based
general anatomic and clinical pathology, dermatopathology,
molecular diagnostic services and other esoteric testing services
to physicians, hospitals, clinical laboratories and surgery
centers.  The company recognized approximately $260 million in
revenue for the 12 months ended June 30, 2013.  The company is
majority owned by equity sponsors KRG Capital Partners and Summit
Partners.

Aurora Diagnostics reported a net loss of $55.4 million on $243
million of net revenue for the year ended Dec. 31, 2014, compared
to a net loss of $73 million on $248 million of net revenue for
the year ended Dec. 31, 2013.

                             *   *   *

As reported by the Troubled Company Reporter on Sept. 27, 2013,
Moody's Investors Service downgraded Aurora's Corporate Family
Rating to Caa2 from B3 and Probability of Default Rating to Caa2-
PD from B3-PD.  Moody's also lowered the debt ratings of Aurora
Diagnostics Holdings, LLC's and Aurora Diagnostics, LLC
(collectively Aurora).  Concurrently, Moody's downgraded Aurora's
Speculative Grade Liquidity Rating to SGL-4 from SGL-3.  The
outlook for the ratings remains negative.

The downgrade of the ratings reflects Moody's expectation that the
company will see continued difficulty in mitigating a significant
decline in revenue and EBITDA.  This stems from a reduction in
Medicare reimbursement due to a decrease in rates and
sequestration, continued challenging volume growth trends and
threats of additional reimbursement reductions.  This will
negatively impact the company's credit metrics, constrain Aurora's
ability to repay debt and pressure the company's liquidity
position.  Moody's also has concerns about the sustainability of
the company's capital structure given its significant debt load
and related interest burden.

In the Aug. 7, 2014, edition of the TCR, Standard & Poor's Ratings
Services raised its corporate credit rating on Palm Beach Gardens,
Fla.-based anatomic pathology services provider Aurora Diagnostics
Holdings LLC to 'CCC+' from 'CCC'.  The outlook is stable.


BERNARD L. MADOFF: Trustee Calls for $1.1M Clawback Case Judgment
-----------------------------------------------------------------
A former Bernie Madoff employee owes the estate of Madoff's
securities firm $1.1 million from withdrawals of false profits --
funds he thought were returns on his investment but which actually
came from other Madoff customers -- the trustee tasked with
unwinding the Ponzi scheme said on Nov. 12, 2015, according to
reporting by Bankruptcy Law360.  The trustee said that Bernard L.
Madoff Investment Securities LLC employee Andrew H. Cohen put
nearly $3 million into his investment account with the firm before
he quit working as a trader there in 2000, but took out more than
$1.1 million.

In a separate report, Bankruptcy Law360 said that Segall Gordich PA
fought back on Nov. 11, against an attempt to cut the law firm out
of legal fees in an investor suit against Bank of America NA over
its role in jailed former attorney Scott Rothstein's  $1.2 billion
Ponzi scheme by asking a Florida bankruptcy court to step in.
Segall Gordich requested to remove a motion filed by Conrad Scherer
LLP, Kozyak Tropin & Throckmorton LLP and the Bounds Law Offices
from state court to bankruptcy court.

                    About Bernard L. Madoff

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

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

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

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

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


BGM PASADENA: Case Summary & 17 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: BGM Pasadena, LLC
        Delaware limited liability company
        210 S. Orange Grove Blvd.
        Pasadena, CA 91105

Case No.: 15-27833

Type of Business: Single Asset Real Estate

Chapter 11 Petition Date: November 20, 2015

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

Judge: Hon. Robert N. Kwan

Debtor's Counsel: James A Tiemstra, Esq.
                  TIEMSTRA LAW GROUP PC
                  1111 Broadway Ste 1501
                  Oakland, CA 94607-4036
                  Tel: 510-987-8000
                  Fax: (510) 987-8001
                  Email: jat@tiemlaw.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $1 million to $10 million

The petition was signed by Greg Galletly, manager.

List of Debtor's 17 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Lobar Properties                     Trade Debt        $123,481

J&J Plumbing Service Inc.            Trade Debt         $78,591

Franchise Tax Board                     Tax             $28,011

Maranatha High School                Trade Debt         $21,985

Los Angeles County Tax Collector        Tax             $19,684

DLG Family Ltd Partnership           Trade Debt         $18,987

Judicate West                        Trade Debt         $17,260

City Wide Maintenance                Trade Debt         $12,800

Law Offices of Paul R. Burns         Trade Debt          $8,539

EDAW, Inc.                           Trade Debt          $3,957

Kelly Sutherlin McLeod Architect     Trade Debt          $2,866

Muni Services                        Trade Debt          $2,445

Farmers Insurance Exchange           Trade Debt          $1,494

IRS                                     Tax              $1,288

Canoga Park                          Trade Debt            $880

Kern Legal                           Trade Debt            $683

The Gas Company                      Trade Debt            $614


BLACK ELK ENERGY: Indicted in Oil-Platform Explosion
----------------------------------------------------
Dow Jones' Daily Bankruptcy Review reported that a federal grand
jury indicted two companies on involuntary manslaughter charges and
three people face charges in a 2012 explosion on an oil production
platform in the Gulf of Mexico, the Justice Department said on Nov.
19.

According to the Associated Press, explosion and fire started
during welding work on a platform owned by Black Elk Energy
Offshore Operations LLC, killing three workers and injuring several
others.  In lawsuits and a federal report, the company and its
contractors have been accused of failing to follow proper safety
practices and rushing work, the AP report related.

                          About Black Elk

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

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

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

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

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


BOOZ ALLEN: Moody's Raises CFR to Ba2, Outlook Stable
-----------------------------------------------------
Moody's Investors Service upgraded the Corporate Family Rating
("CFR") and Probability of Default Rating of Booz Allen Hamilton
Inc. to Ba2 and Ba2-PD from Ba3 and Ba3-PD, respectively, based on
credit metrics appropriate for the rating and the expectation that
its financial policies will be reflective of the Ba2 rating level
over the intermediate term including a prudent and balanced
approach towards shareholder-friendly activities that do not
meaningfully increase funded debt levels.  Concurrently, Moody's
upgraded the company's senior secured first lien bank debt by one
notch to Ba2 from Ba3 and affirmed Booz Allen's Speculative Grade
Liquidity Rating at SGL-1.  The ratings outlook is stable.

In addition to financial policies consistent with the Ba2 rating
level, Booz Allen's debt/EBITDA has remained at 3.3 times or below
and EBITDA margins have increased moderately despite top line
revenue pressures from a challenging defense services contracting
environment in recent years.  The improvement in Booz Allen's
credit metrics has resulted from a combination of EBITDA margin
improvement as well as debt reduction via amortization payments.

The upgrade also incorporates the likely beneficial effect that the
Bipartisan Budget Act signed into law in early November could have
on companies such as Booz Allen by providing a greater certainty
with regards to defense spending over the next two government
fiscal years, thereby facilitating new and existing contracts to
proceed.  Furthermore, an increase in the company's backlog levels
and increased award activity also underlie the ratings upgrade.

Ratings upgraded:

  Corporate Family Rating, to Ba2 from Ba3
  Probability of Default Rating, to Ba2-PD from Ba3-PD
  $500 million senior secured first lien revolver due May 2019, to

   Ba2 (LGD-3) from Ba3 (LGD-3)
  $830 million ($771 million outstanding) senior secured first
   lien term loan A due May 2019, to Ba2 (LGD-3) from Ba3 (LGD-3)
  $841.2 million ($831.5 million outstanding) senior secured first

   lien term loan B due July 2019, to Ba2 (LGD-3) from Ba3 (LGD-3)

Ratings affirmed:

  Speculative Grade Liquidity Rating, at SGL-1
   Outlook, Stable

RATINGS RATIONALE

Booz Allen's Ba2 CFR is supported by the company's scale and
well-established business position, healthy backlog levels, credit
metrics reflective of the Ba2 level and anticipated continued
positive cash flow generation before any special dividends and
share repurchases.  The ratings accommodate a degree of shareholder
friendly activities characterized by moderate periodic special
dividends, share repurchases, bolt-on acquisition activity and a
recurring dividend.

The competitive advantages derived from its diverse government
contract base and long-term relationships with U.S. government
departments are also supportive of the ratings.  Furthermore,
during the company's 2015 fiscal year, it continued to have a
re-compete win rate on existing contracts of over 85 percent and
over 50 percent win rate on new contracts.

These positive rating factors are weighed against a defense service
contracting environment that remains very competitive due to lower
overall defense outlays in recent years, generally shorter contract
tenors and a more competitive bidding environment compounded by the
government's increased focus in recent years on LPTA (lowest priced
technically acceptable) work.  In addition, if the company was to
enter into a large debt-financed acquisition while maintaining the
current level of excess cash deployments towards special dividends
and share repurchases, the ratings could be pressured.

The SGL-1 liquidity rating denotes a very good liquidity profile
including the expectation of positive free cash flow generation
before dividends and share repurchases as well as ample
availability under the company's $500 million revolving credit
facility.

The stable rating outlook is supported by the expectation that Booz
Allen's credit metrics will remain solidly positioned at the Ba2
rating level over the intermediate term together with the
maintenance of a good liquidity profile and shareholder-friendly
policies financed largely from excess cash flow versus an increase
in funded debt.

A ratings upgrade and/or change in the company's outlook would
likely emanate from an improvement in debt/EBITDA to below 2.5
times, FFO/debt of 25% or greater as well as the maintenance of a
good liquidity profile and top line revenue growth.

The ratings could be pressured if there were a meaningful
deterioration in Booz Allen's operating performance or a
significant weakening of the company's liquidity profile.  In
addition, a sizable debt-financed acquisition or dividend could
also exert downward pressure on the ratings.  Specifically, the
ratings could be negatively impacted if debt/EBITDA increases
beyond 4.0 times or free cash flow before dividends plus reported
cash falls below $200 million.

The principal methodology used in these ratings was Global
Aerospace and Defense Industry published in April 2014.

Booz Allen Hamilton is a provider of management and technology
consulting and engineering services to governments in the defense,
intelligence and civil markets, global corporations and
not-for-profit organizations.  Booz Allen is headquartered in
McLean, Virginia, and reported revenues of approximately $5.3
billion for the last twelve months ended Sept. 30, 2015.  Carlyle
owns just under 20 percent of the outstanding common stock of the
company.



BRANTLEY LAND: Secured Creditor No Longer Consents to Cash Use
--------------------------------------------------------------
Secured creditor State Bank & Trust Company said in a filing with
the U.S. Bankruptcy Court for the Southern District of Georgia that
it is withdrawing its consent to Brantley Land & Timber Company,
LLC's use of cash collateral.

Douglas D. Ford, Esq., at Quirk & Quirk, LLC, notes that the
Debtor's real estate development is subject to a first-position
deed to secure debt granted to SB&T; the debt secured by the
first-position deed is in excess of $10,000,000.  Mr. Ford avers
that there is not enough equity in the Debtor's remaining interest
in the real estate development and the cash collateral to secure
the debt to SB&T.

Mr. Ford also notes that the budget attached to Debtor's Cash
Collateral Motion estimates the monthly professional fees to be
$4,500.00 per month; however, the attorney and accountant for the
Chapter 11 Trustee have submitted bills of roughly $35,000 per
month.

SB&T's interest in its cash collateral is not being adequately
protected in this matter, Mr. Ford tells the Court.

Accordingly, SB&T objects, and withdraws its previous consent, to
the Debtor's the motion for an order authorizing the use of cash
collateral.

State Bank and Trust Company is represented by:

          Douglas D. Ford, Esq.
          QUIRK & QUIRK, LLC
          300 CENTURY SPRINGS WEST
          6000 LAKE FORREST DRIVE, NW
          ATLANTA, GA 30328
          Phone: (404) 252-1425
          E-mail: DDF@QUIRKLAW.COM

                - and -

          C. James McCallar, Jr., Esq.
          Tiffany E. Caron, Esq.
          MCCALLAR LAW FIRM
          P.O.Box 9026
          Savannah, GA 31401
          E-mail: mccallar@mccallarlawfirm.com
                  tiffany.caron@mccallarlawfirm.com

                           *     *     *

The hearing on the Debtor's motion to use cash collateral and the
objections of SB&T, the Brantley County Tax Commissioner, and the
U.S. Trustee originally scheduled for Nov. 12 has been continued to
Dec. 10 at 10:30 a.m.

                       About Brantley Land

Brantley Land & Timber Company, LLC, is a real estate development
company which originally held over 1,000 lots in a development
located in Brantley County, Georgia.

In July, 2011, State Bank & Trust Company obtained a judgment in
Fulton County Superior Court against Brantley Land and its
principals for an amount, including interest and fees, currently in
excess of ten million dollars, and the Superior Court also
appointed receiver Jerry Harper to take control of Debtor, based at
least in part on the misappropriation of funds by two of Brantley
Land's principals.

Brantley Land filed a Chapter 11 bankruptcy petition (Bankr. S.D.
Ga. Case No. 15-20584) in Brunswick, Georgia, on July 16, 2015.

The Debtor, which is controlled by the receiver, tapped McCallar
Law Firm as counsel.

The U.S. Trustee for Region 21 is not attempting to form a
committee of unsecured creditors in the Chapter 11 case of the
Debtor, at this time.


BREF HR: Incurs $31.9 Million Net Loss in Third Quarter
-------------------------------------------------------
BREF HR, LLC, filed with the Securities and Exchange Commission its
quarterly report on Form 10-Q disclosing a net loss of $31.9
million on $46.0 million of net revenues for the three months ended
Sept. 30, 2015, compared with a net loss of $28.4 million on $50.2
million of net revenues for the same period in 2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $88.3 million on $149 million of net revenues compared
to a net loss of $72.8 million on $157 million of net revenues for
the same period during the prior year.

As of Sept. 30, 2015, the Company had $582 million in total assets,
$973 million in total liabilities and a total members' deficit of
$392 million.

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

                       http://is.gd/Hvy06N

                         About BREF HR

BREF HR owns and operates Hard Rock Hotel & Casino Las Vegas.  The
Company, which was formed by certain affiliates of Brookfield
Financial, LLC to acquire the entities which indirectly and
previously owned the Hard Rock Hotel & Casino Las Vegas, is based
in New York.

BREF HR reported a net loss of $103 million in 2014, a net loss of
$106 million in 2013 and a net loss of $116 million in 2012.

Deloitte & Touche LLP, in Las Vegas, Nevada, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that recurring losses from
operations and the contractual debt repayments due April 17, 2015,
raise substantial doubt about its ability to continue as a going
concern.


BROADVIEW NETWORKS: Incurs $1.94 Million Net Loss in Third Quarter
------------------------------------------------------------------
Broadview Networks Holdings, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $1.94 million on $73.04 million of revenues for the
three months ended Sept. 30, 2015, compared to a net loss of $2.36
million on $73.7 million 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 $7.91 million on $218.97 million of revenues compared
to a net loss of $6.56 million on $228 million of revenues for the
same period a year ago.

As of Sept. 30, 2015, the Company had $205 million in total assets,
$213 million in total liabilities, and a stockholders' deficiency
of $8.93 million.

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

                        http://is.gd/yccOEL

                      About Broadview Networks

Rye Brook, N.Y.-based Broadview Networks Holdings, Inc., is a
communications and IT solutions provider to small and medium sized
business ("SMB") and large business, or enterprise, customers
nationwide, with a historical focus on markets across 10 states
throughout the Northeast and Mid-Atlantic United States, including
the major metropolitan markets of New York, Boston, Philadelphia,
Baltimore and Washington, D.C.

Broadview Networks reported a net loss of $9.22 million in 2014, a
net loss of $8.48 million in 2013 and a net loss of $35.3 million
in 2012.

                           *     *     *

In the July 23, 2012, edition of the Troubled Company Reporter,
Moody's Investors Service downgraded Broadview Networks Holdings,
Inc. Corporate Family Rating (CFR) to 'Caa3' from 'Caa2' and the
Probability of Default Rating (PDR) to 'Ca' from 'Caa3' in
response to the company's announcement that it has entered into a
restructuring support agreement with holders of roughly 70% of its
preferred stock and roughly 66-2/3% of its Senior Secured Notes.
The company is expected to file a pre-packaged Chapter 11 Plan of
Reorganization or complete an out of court exchange offer.

As reported by the TCR on July 25, 2012, Standard & Poor's Ratings
Services lowered its corporate credit rating on Broadview to 'D'
from 'CC'.  "This action follows the company's announced extension
on its revolving credit facility.  We expect to lower the issue-
level rating on the notes to 'D' once the company files for
bankruptcy, or if it misses the Sept. 1, 2012 maturity payment on
the notes," S&P said.


BUNKERS INTERNATIONAL: Committee Objection to ABS Deal Overruled
----------------------------------------------------------------
Judge Cynthia C. Jackson of the U.S. Bankruptcy Court for the
Middle District of Florida, Orlando Division, overruled the
Official Committee of Unsecured Creditors' objection to the Global
Settlement Stipulation between debtors Bunkers International, et.
al., and Australian Bunker Supplier's C.I, S.A.S. ("ABS").  Judge
Jackson also approved modifications to the Stipulation.

ABS had filed a motion seeking to compel Bunkers International to
reject a Marketing and Distribution Agreement ("Agreement") between
the Debtor and ABS, pursuant to which the Debtor would allegedly
pre-pay for fuel to be acquired by ABS, and ABS would then mix the
fuel and deliver the fuel to customers in the port of Buena
Ventura, Colombia ("Colombian Port").  The Debtor was to market the
fuel and arrange buyers for the fuel. ABS alleged in the ABS Motion
that it received its last order from the Debtor on July 29, 2015,
that ABS acquired the fuel, but that the Debtor never provided
additional funds to acquire the mixing stock that is required to
blend the fuel for delivery to vessels. ABS has allegedly continued
to store that unblended fuel in its barges since the end of July
2015.

The Debtor and ABS entered into a global settlement, with the
following terms, among others:

  (1) The Agreement between ABS and BIC is rejected.

  (2) ABS is authorized to sell the stored fuel as soon as
practical.

  (3) ABS will pay $600,000 to BIC as follows: (a) $300,000 will be
paid upon ABS' receipt of payment from its customer or customers
upon the sale of the stored fuel; and (b) ABS will make monthly
payments to BIC in the amount of $15,000/month, commencing February
2016, for a term of 20 months.

  (4) BIC and ABS execute general releases, including any claim by
BIC to recover the $1,210,000 paid to ABS within the 90 days before
the bankruptcy.

The Committee had objected to the Global Settlement Stipulation,
contending that it did not believe that the Debtor and ABS have
provided sufficient information and documents to satisfy the
standards for approval of a settlement under Rule 9019.

Judge Jackson ordered the modification, among others, of paragraph
4(b) the Stipulation to state: "As to the $734,180.75 ABS owes BIC
for unpaid commissions (the "Obligation"), ABS will have the right
to pay that Obligation off at a discount of $300,000 (the "DPO"),
by making monthly payments to BIC in the amount of $15,000,
commencing Feb. 1, 2016, for a term of 20 months, to be paid on the
first day of every month (the "Monthly Payments")."

The Official Committee of Unsecured Creditors of Bunkers is
represented by:

          John B. Hutton, Esq.
          Ari Newman, Esq.
          GREENBERG TRAURIG, P.A.
          333 S.E. Second Avenue, Suite 4400
          Miami, FL 33131
          Telephone: (305)579-0868
          Facsimile: (866)579-0717
          E-mail: huttonj@gtlaw.com
                  newmarar@gtlaw.com

                   About Bunkers International

Based in Lake Mary, Florida, Bunkers International trades and
provides fuel for ships at sea.  It provides physical supply,
trading, and brokering services from a number of global locating
including those in the U.S., Singapore, Greece, and the United
Kingdom, and says it is the largest marine fuel supplier in
Colombia through its BunkersOil Colombia joint venture with
Vanoil, S.A.  The Company started in Colombia in 1995.

Bunkers International Corp. and three affiliates sought Chapter 11
bankruptcy protection (Bankr. M.D. Fla. Lead Case No. 15-07397) on
Aug. 28, 2015.  The petition was signed by John T. Canal as
president/CEO.  The Debtors estimated assets of $10 million to $50
million and liabilities of at least $10 million.  Latham, Shuker,
Eden & Beaudine, LLP represents the Debtors as counsel.



BUNKERS INTERNATIONAL: Court Allows $203K ARC Claim
---------------------------------------------------
Judge Authur B. Briskman of the U.S. Bankruptcy Court for the
Middle District of Florida, Orlando Division, signed an order
granting Arc Terminals Holdings, LLC ("ARC") adequate protection as
a condition of Debtor Bunkers International Corp.'s use or sale of
property of the estate.

Judge Briskman granted ARC an allowed administrative claim in the
amount of $202,800 for postpetition storage costs through Oct. 31,
2015 ("Allowed Claim").  He ordered ARC to provide access and
cooperation to allow Atlantic Gulf Bunkering, LLC ("AGB") to sell
its remaining fuel stored at ARC's facility at Chickasaw, Alabama
("AGB Fuel").  Judge Briskman further ordered that the AGB Fuel be
sold free and clear of all liens and claims, and that the proceeds
from the sale of AGB Fuel be placed in a separate AGB
debtor-in-possession account. Judge Briskman ordered AGB and ARC to
work towards resolving any disputes and commercial matters
regarding their Terminalling Agreement, including clean-up charges,
and dispostion of all remaining AGB Fuel prior to the Agreement's
Termination Date on Oct. 31, 2015.

                    About Bunkers International

Based in Lake Mary, Florida, Bunkers International trades and
provides fuel for ships at sea.  It provides physical supply,
trading, and brokering services from a number of global locating
including those in the U.S., Singapore, Greece, and the United
Kingdom, and says it is the largest marine fuel supplier in
Colombia through its BunkersOil Colombia joint venture with
Vanoil, S.A.  The Company started in Colombia in 1995.

Bunkers International Corp. and three affiliates sought Chapter 11
bankruptcy protection (Bankr. M.D. Fla. Proposed Lead Case No.
15-07397) on Aug. 28, 2015.  The petition was signed by John T.
Canal as president/CEO.  The Debtors estimated assets of $10
million to $50 million and liabilities of at least $10 million.
Latham, Shuker, Eden & Beaudine, LLP represents the Debtors as
counsel.



CAESARS ENTERTAINMENT: Court Delays Plan Outline Hearing
--------------------------------------------------------
U.S. Bankruptcy Judge Benjamin Goldgar agreed on Nov. 18, 2015, to
delay a hearing to consider  Caesars Entertainment Operating Co's
Chapter 11 plan until independent examiner Richard Davis completes
his probe into the Company's pre-bankruptcy transactions, Tracy
Rucinski at Reuters reports.

Judge Goldgar, according to Reuters, has sided with the Company's
creditors, saying that he wouldn't schedule a hearing to approve
the disclosure statement accompanying the plan without knowing when
Mr. Davis will deliver his report.  Junior creditor groups and a
U.S. bankruptcy watchdog had asked the Bankruptcy Court to reject a
request from the Company to hold the hearing in late January,
Reuters relates.

                   About Caesars Entertainment

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

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

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

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

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

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

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

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

                         *     *     *

The Troubled Company Reporter, on April 27, 2015, reported that
Fitch Ratings has affirmed and withdrawn the Issuer Default Ratings
(IDR) and issue ratings of Caesars Entertainment Operating Company
(CEOC).  These actions follow CEOC's Chapter 11 filing on Jan. 15,
2015.  Accordingly, Fitch will no longer provide ratings or
analytical coverage for CEOC.

In addition, Fitch has affirmed the IDR and issue rating of Chester
Downs and Marina LLC (Chester Downs) and the ratings have been
simultaneously withdrawn for business reason.


CANNERY CASINO: Moody's Confirms 'Caa1' CFR, Outlook Negative
-------------------------------------------------------------
Moody's Investors Service confirmed Cannery Casino Resorts, LLC's
Corporate Family Rating at Caa1, Probability of Default Rating at
Caa1-PD, the rating on its first lien bank facility at B3, and the
rating on its second lien term loan at Caa3.  The rating outlook is
negative.  This concludes the rating review that was initiated on
Sept. 17, 2015.

The confirmation of Cannery's ratings reflects the company's
receiving a waiver of its covenant violations as of the
quarter-ended June 30, 2015 and long-term covenant relief --
satisfying the terms we considered when we placed the ratings on
review. Moody's viewed long-term covenant relief important to avoid
another violation as the prior covenants stepped down in 2015 and
2016 and to allow time for the company to close the sale of its
Meadows Racetrack & Casino.  The amendment calls for additional
cushion in both the leverage and coverage financial maintenance
covenants which will not be tested until the quarter ending June
30, 2016.  The leverage covenant will have a slight step-down in
the quarter ending Sept. 30, 2016, but none thereafter.

Ratings confirmed:

  Corporate Family Rating at Caa1

  Probability of Default Rating at Caa1-PD

  $40 million senior secured first lien revolver expiring in
   Oct. 2017 at B3 (LGD3)

  $355 million (outstanding) senior secured first lien term loan
   due Oct. 2018 at B3 (LGD3)

  $165 million senior secured second lien term loan due
   Oct. 2019 at Caa3 (LGD5)

RATINGS RATIONALE

Cannery's Caa1 Corporate Family Rating reflects the company's high
leverage -- lease adjusted leverage was almost 8.0 times for the
last 12 months ended Sept. 30, 2015 -- and Moody's expectation that
leverage will remain above 7.0 times for the next two years outside
of a sale of the Meadows property.  Moody's does not expect that
leverage will decline materially over the next two years as EBITDA
is expected to improve only modestly and debt balances are not
expected to be reduced outside of mandatory amortization of about
$4 million annually and a 50% excess cash flow sweep. Positive
rating consideration is given to our expectation that despite high
leverage and an extremely challenging operating environment,
Cannery will be able to cover interest expense, maintenance capital
expenditures and required debt amortization from cash flow.  The
company also has no significant debt maturing (besides its revolver
in October 2017) until its first lien term loan matures in Oct.
2018.

The negative rating outlook, despite Cannery's recent amendment
which provides it covenant relief through the life of the loan,
reflects the uncertainty around the lawsuit related to the sale of
the Meadows.  Outside a sale of the Meadows, Moody's expects that
Cannery's leverage will remain above 7.0 times over the next two
years.

Moody's ratings does not take into consideration the potential sale
of Cannery's Meadows property.  In May 2014, Cannery announced its
plans to sell the Meadows Racetrack and Casino near Pittsburgh,
Pennsylvania -- which accounts for about 70% of Cannery's total
revenue -- to Gaming & Leisure Properties, Inc. (GLPI, Ba1 stable)
for $465 million.  However, GLPI sued Cannery in October 2014 for
allegedly breaching the purchase agreement and is seeking
unspecified damages from Cannery.  Moody's do not take the
potential sale into consideration because of the uncertainty
surrounding the litigation and ultimately whether the sale closes.

Ratings could be lowered if gaming revenues at the Meadows
experiences a sustained decline or if the company's liquidity
profile deteriorates.  To the extent the sale of the Meadows is not
completed prior to any of its debt becoming current, the ratings
could also be downgraded.  An upgrade is unlikely at this time
given the negative outlook.  A stable rating outlook would require
a high level of comfort on Moody's part that Cannery can materially
improve its earnings trend.  A higher rating would require
significant and sustainable improvement in debt/EBITDA, at or below
6.5 times.

Cannery Casino Resorts, LLC is a privately held gaming company that
owns and operates one casino in Pennsylvania and two casinos in Las
Vegas, NV.  The company generates about $420 million of annual net
revenue.

The principal methodology used in these ratings was Global Gaming
Industry published in June 2014.



CENTRIX FINANCIAL: Court Reopens $100M Fraudulent Transfer Suit
---------------------------------------------------------------
Y. Peter Kang at Bankruptcy Law360 reported that a Colorado federal
judge on Nov. 12, 2015, reopened a $100 million suit brought by the
trustee for Centrix Financial LLC accusing the founder of the
bankrupt auto finance lender and others of making fraudulent
transfers, allowing the trustee to investigate whether a subsequent
settlement was based on false financial disclosures.

U.S. District Judge Philip A. Brimmer granted a motion to reopen
the case, in which trustee Jeffrey A. Weinman accuses Centrix
founder Robert Sutton and others of inducing credit unions to
provide funds to the bankrupt company.

                       About Centrix Financial

Based in Reno, Nevada, Centrix Financial LLC was a subprime
auto lender.

Three of Centrix Financial's creditors, IFC Credit Corporation,
Suntrust Leasing, and Wells Fargo Equipment Finance, filed an
involuntary chapter 11 petition against the Debtors (Bankr.
D. Colo. Case No. 06-16403) on Sept. 15, 2006, alleging more
than $4.6 million owed.  Lee M. Kutner, Esq., at Kutner Miller,
P.C., and David von Gunten, Esq., at Von Gunten Law LLC,
represented the petitioners.

Centrix and some affiliates filed voluntary Chapter 11
petitions (Bankr. D. Nev. Case No. 06-50631) on Sept. 19,
2006.  CMGN LLC, another affiliate, filed its Chapter 11
petition (Bankr. D. Nev. Case No. 06-50631) on Sept. 4, 2006.

The Debtors' cases were consolidated and transferred (Bankr.
D. Colo. Case No. 06-16403) on Sept. 27, 2006.  Craig D.
Hansen, Esq., Thomas J. Salerno, Esq., and Sean T. Cork, Esq.,
at Squire, Sanders & Dempsey, L.L.P.; and Lawrence Bass,
Esq., and Elizabeth K. Flaagan, Esq., at Holme Roberts & Owen LLP,
represent the Debtors.  The Official Committee of Unsecured
Creditors was represented by Douglas W. Jessop, Esq., and Kerstin
E. Kass, Esq., at Jessop & Company, P.C., and Michael P. Richman,
Esq., at Foley & Lardner LLP.  Kurtzman Carson Consultants LLC was
the Debtors' claims agent.  In it Schedules filed with the
Court, Centrix Financial disclosed total assets of $23,928,171
and total debts of $109,189,359.

On February 6, 2007, the Bankruptcy Court authorized the sale of
substantially all of the Debtors' assets.  On May 16, 2008, the
Bankruptcy Court confirmed the Second Amended Liquidating Chapter
11 Plan Proposed by the Debtors and Creditors' Committee Dated
January 25, 2008.  The Centrix Liquidating Trust was created under
that chapter 11 plan and Jeffrey A. Weinman was appointed the
liquidating trustee.


CENTURY CONTROL: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Century Control Systems, Inc.
        1460 Roanoke Road
        Daleville, VA 24083

Case No.: 15-71632

Chapter 11 Petition Date: November 20, 2015

Court: United States Bankruptcy Court
       Western District of Virginia (Roanoke)

Judge: Hon. Paul M. Black

Debtor's Counsel: Richard E B Foster, Esq.
                  RICHARD E.B. FOSTER, PLLC
                  30 West Franklin Road, Suite 302
                  Roanoke, VA 24011
                  Tel: 540 777-4838
                  Fax: 540 777-5595
                  Email: rfoster@rebflaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Stephen M. Dean, authorized individual.

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


CHATEAU AMORE: Case Summary & Largest Unsecured Creditor
--------------------------------------------------------
Debtor: Chateau Amore, LLC
        a California Limited Liability Company
        10880 Eagle Rock Road
        Hopland, CA 95449

Case No.: 15-11174

Chapter 11 Petition Date: November 20, 2015

Court: United States Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Hon. Alan Jaroslovsky

Debtor's Counsel: James L. Conkey, Esq.
                  JLC LAW OFFICES
                  3991 MacArthur Blvd. #400
                  Newport Beach, CA 92660
                  Tel: (949) 441-1477

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Steven Amato, CEO.

The Debtor listed Asset Default as its largest unsecured creditor
holding a claim of $1.03 million.

A copy of the petition is available for free at:

             http://bankrupt.com/misc/canb15-11174.pdf


CHICAGO BOARD: S&P Puts GO Bonds' 'BB' Rating on CreditWatch Neg.
-----------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'BB' long-term rating
and underlying rating (SPUR) on Chicago Board of Education's
general obligation (GO) bonds on CreditWatch with negative
implications.

"The CreditWatch action is based on our view of the board's lack of
progress in meeting the assumptions in its fiscal 2016 budget for
Chicago Public Schools," said Standard & Poor's credit analyst
Jennifer Boyd.



COLT DEFENSE: Court OKs Amendment to Term DIP Credit Agreement
--------------------------------------------------------------
Colt Holding Company sought and obtained from Judge Laurie Selber
Silverstein of the U.S. Bankruptcy Court for the District of
Delaware, authorization to enter into Amendment No. 3 to the Senior
Secured Suprepriority Debtor-in-Possession Term Loan Agreement
("Term DIP Credit Agreement").

The Court had entered an interim order authorizing the Debtors to
borrow $6,000,000 in DIP Loans on an interim basis.  A second
interim order was entered, authorizing the Debtors to borrow an
additional $4,000,000 in DIP Loans on an interim basis.  On
July 10, 2015, the Court entered an order authorizing the Debtors
to borrow an additional $65,000,000 in DIP Loans on a final basis.
Pursuant to the terms of the Final DIP Order, the Debtors may
materially modify or amend any of the DIP Documents pursuant to an
order of the Court.

The Debtors sought the Court's authorization to borrow from the
Senior Secured Super-Priority Debtor-in-Possession Lenders ("Senior
DIL Lenders") under the DIP Facilities an additional aggregate
principal amount equal to $2,500,000 ("Supplemental Draw"), subject
to the Second Senior DIP Amendment.  The Debtors contend that they
have an immediate and critical need to use the Supplemental Draw to
fund a variety of operating expenses during the week of Nov. 2,
2015.  The Debtors further contend that the entry of the DIP Order
Amendment will allow the Debtors to access the Supplemental Draw
and avoid immediate and irreparable harm to their estates and the
value of their assets.  The Debtors add that they expect that their
liquidity will improve shortly and that they will not require any
additional financing in the near term.

The Debtors tell the Court that the Term DIP Lenders have consented
to the Debtors' entry into the Second Senior DIP Amendment on the
terms set forth in Amendment No. 3 to the Term DIP Credit
Agreement.  The Debtors further tell the Court that the Term DIP
Lenders are not charging any fees in connection with Term DIP
Amendment No. 3.

The principal terms of Term DIP Amendment No. 3, among others, are
as follows:

  (1) As consideration for the Term DIP Lenders' agreements to (a)
waive the Debtors' compliance with certain provisions of the Term
DIP Credit Agreement and (b) extend certain plan confirmation
process milestones and the stated maturity of the Term DIP Loans:

     (i) As of Oct. 20, 2015, all Obligations that have been
charged to the Loan Account will accrue interest at a rate per
annum equal to 2% above the per annum rates otherwise applicable
thereto, payable in kind.

    (ii) As of Oct. 20, 2015, the outstanding principal balance of
the Tranche B Term Loans will accrue interest at a rate per annum
equal to 2% above the per annum rates otherwise applicable thereto,
payable in kind.

  (2) The Stated Maturity Date is extended to Dec. 29, 2015, and
certain milestones relating to the plan confirmation process have
been modified.

  (3) The Term DIP Agent and Term DIP Lenders have waived the
Debtors' compliance with certain specified provisions of the Term
DIP Credit Agreement.

  (4) The Term DIP Agent and Term DIP Lenders have approved a
revised budget effective beginning with the Test Period ended
Nov. 6, 2015.

Colt Holding is represented by:

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

                - and -

         John J. Rapisardi, Esq.
         Peter Friedman, Esq.
         Joseph Zujkowski, Esq.
         Diana M. Perez, Esq.
         O'MELVENY & MYERS LLP
         Times Square Tower
         Seven Times Square
         New York, NY 10036
         Telephone: (212)326-2000
         Facsimile: (212)326-2061
         E-mail: jrapisardi@omm.com
                 pfriedman@omm.com
                 jzujkowksi@omm.com
                 dperez@omm.com

                        About Colt Holding

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

In 1992, Colt Manufacturing Company, then the principal operating
subsidiary, filed chapter 11 petitions (Bankr. D. Conn.).  An
investment by Zilkha & Co. allowed CMC to confirm a chapter 11
plan and emerge from Bankruptcy in 1994.

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

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

Colt Defense estimated $100 million to $500 million in assets and
debt.

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

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

Wilmington Savings Fund Society, FSB, as agent under the $13.3
million Term DIP Loan Agreement, is represented by Pryor Cashman
LLP's Eric M. Hellige, Esq.; and Willkie Farr & Gallagher LLP's
Leonard Klingbaum, Esq.  

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

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

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



CON-WAY INC: Moody's Withdraws 'B3' Sr. Unsecured Debt Rating
-------------------------------------------------------------
Moody's Investors Service has withdrawn all ratings of Con-way
Inc., including the B3 senior unsecured debt rating.  Con-way is
now a subsidiary of XPO Logistics, Inc. (Corporate Family Rating of
B1, stable outlook), and Con-way will no longer provide any
financial or other information.

RATINGS RATIONALE

Moody's has withdrawn the ratings because it believes it has
insufficient or otherwise inadequate information to support the
maintenance of the ratings.

Withdrawals:

Issuer: Con-way Incorporated

  Senior Unsecured Medium-Term Note Program, Withdrawn, previously

   rated (P)B3
  Senior Unsecured Regular Bond/Debenture, Withdrawn, previously
   rated B3 (LGD6)

Outlook Actions:

Issuer: Con-way Incorporated

  Outlook, Changed To Rating Withdrawn From Stable

Con-way Inc. provides transportation, logistics and supply-chain
management services.  Its business units are active in
less-than-truckload and full-truckload freight transportation as
well as warehouse management and transportation management.
Revenues for the last 12 months ended June 2015 were approximately
$5.7 billion.  XPO Logistics, Inc. completed the acquisition of
Con-way Inc. on Oct. 30, 2015.



COUDERT BROTHERS: Resolves Clawback Suits Against Ex-Partners
-------------------------------------------------------------
Cara Salvatore at Bankruptcy Law360 reported that seven clawback
suits against former partners of Coudert Brothers LLP who are now
at firms including Jones Day and Akin Gump Strauss Hauer & Feld LLP
will be dropped, Coudert's bankruptcy administrator told a New York
federal judge on Nov. 12, 2015.

Seven suits against partners who went to those two firms, K&L Gates
LLP and Sheppard Mullin Richter & Hampton LLP will be dropped
because the plan administrator, Development Specialists Inc., is
satisfied that those partners didn't take any recoverable business
with them.

                      About Coudert Brothers

Coudert Brothers LLP was an international law firm specializing in
complex cross-border transactions and dispute resolution.  The
firm had operations in Australia and China.  Coudert filed for
Chapter 11 protection (Bankr. S.D.N.Y. Case No. 06-12226) on
Sept. 22, 2006.  John E. Jureller, Jr., Esq., and Tracy L.
Klestadt, Esq., at Klestadt & Winters, LLP, represented the Debtor
in its restructuring efforts.  Brian F. Moore, Esq., and David J.
Adler, Esq., at McCarter & English, LLP, represented the Official
Committee of Unsecured Creditors.  Coudert scheduled total assets
of $30.0 million and total debts of $18.3 million as of the
Petition Date.  The Bankruptcy Court in August 2008 signed an
order confirming Coudert's chapter 11 plan.  The Plan contemplated
on paying 39% to unsecured creditors with $26 million in claims.

Coudert has been succeeded by Development Specialists, Inc. in its
capacity as Plan Administrator under the confirmed chapter 11
plan.



COYNE INTERNATIONAL: Seeks Until Feb. 26 to File Ch. 11 Plan
------------------------------------------------------------
Coyne International Enterprises Corp., et al., ask the U.S.
Bankruptcy Court for the Northern District of New York to extend
their exclusive period plan to file a Chapter 11 Plan through and
including February 26, 2016, and their exclusive period to solicit
acceptances of the plan through and including April 26, 2016.

Since the Petition Date, the Debtors and their professionals have
devoted substantial time and effort to, among other things: (i)
obtaining significant "first day" and other relief, (ii) preparing
and filing extensive schedules and statements of financial affairs
for the Debtors, (iii) preparing and filing monthly operating
reports, (iv) obtaining authorization to retain a number of
professionals necessary to address the myriad issues arising in the
Chapter 11 Cases, including the Debtors' investment banker to
conduct the sale process, (v) negotiating with the Official
Committee of Unsecured Creditors and the U.S. Trustee with respect
to various aspects of the Chapter 11 Cases, including cash
collateral usage, bidding procedures, and employee payments, (vi)
negotiating with the Debtors' unions to reach a consensual
rejection of the collective bargaining agreements between the
parties, and (vii) working diligently to commence and consummate
the sale of the Debtors' assets at the Auction.

In light of the Debtors' accomplishment of the milestones, the
Debtors believe that ample cause exists to extend their Exclusive
Periods.  The Debtors maintain that the requested extension of the
Exclusive Periods will not prejudice the legitimate interests of
postpetition creditors, as the Debtors continue to make timely
payments on their undisputed postpetition obligations.

The Debtors are represented by:

          Robert L. Rattet, Esq.
          Stephen B. Selbst, Esq.
          HERRICK, FEINSTEIN LLP
          2 Park Avenue
          New York, New York 10016
          Phone: (212) 592-1400
          Email: rrattet@herrick.com
                 sselbst@herrick.com
                 hhuynh@herrick.com
        
             -- and --

          William J. Brown, Esq.
          PHILLIPS LYTLE LLP
          125 Main Street
          Buffalo, New York 14203
          Phone: (716) 847-7089
          Email: wbrown@phillipslytle.com

                  About Coyne International

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

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

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


CRAILAR INC: Chapter 15 Case Summary
------------------------------------
Chapter 15 Petitioner: The Bowra Group Inc.

Chapter 15 Debtor: Crailar Inc.
                   c/o The Bowra Group Inc.
                   One Bentall Centre, Suite 430
                   505 Burrad Street
                   Vancouver V7X 1M3
                   Canada

Chapter 15 Case No.: 15-06243

Type of Business: Producer of natural fibers

Chapter 15 Petition Date: November 20, 2015

Court: United States Bankruptcy Court
       District of South Carolina (Columbia)

Judge: Hon. David R. Duncan

Chapter 15
Petitioner's
Counsel:      Lawrence M. Hershon, Esq.
              PARKER POE ADAMS & BERNSTEIN LLP
              PO Box 1509
              Columbia, SC 29202
              Tel: 803-253-8918
              Email: lawrencehershon@parkerpoe.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million


D'ELIA WITTKOFSKI: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: D'Elia Wittkofski Incorporated
        2840 Liberty Avenue
        Pittsburgh, PA 15222

Case No.: 15-24271

Chapter 11 Petition Date: November 22, 2015

Court: United States Bankruptcy Court
       Western District of Pennsylvania (Pittsburgh)

Judge: Hon. Thomas P. Agresti

Debtor's Counsel: Kathryn L. Harrison, Esq.
                  CAMPBELL & LEVINE, LLC
                  310 Grant Street, Suite 1700
                  Pittsburgh, PA 15219
                  Tel: 412-261-0310
                  Fax: 412-261-5066
                  Email: klh@camlev.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Cecil Foster, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/pawb15-24271.pdf


DIGITAL RIVER: Moody's Affirms B2 CFR, Outlook Stable
-----------------------------------------------------
Moody's Investors Service affirmed Digital River, Inc.'s B2
corporate family rating and B2-PD probability of default rating.
Moody's also upgraded the company's $10 million revolver and $255
million first lien term loan ratings to Ba3 from B1, and the $80
second lien term loan to B3 from Caa1.  The outlook is stable.

Using a combination of proceeds from business divestitures and cash
from the balance sheet, Moody's expects Digital River to pay down
about $143 million of its first lien term loan by year end.
Following this reduction, Moody's expects Digital River's adjusted
debt to EBITDA to improve to about 4x by the end of 2016.

RATINGS RATIONALE

The upgrade of the first lien ratings to Ba3 from B1 and the second
lien term loan rating to B3 from Caa1 reflects the significantly
lower proportion of first lien debt in the capital structure
following the first lien term loan repayments.

Although the $143 million reduction in the company's first lien
term loan will reduce leverage substantially, Moody's recognizes
that some uncertainties still exist surrounding the company's
sustainable levels of future revenue growth and profitability.
While Digital River has made progress toward its cost savings goals
in 2015, the company will continue to engage in significant cost
saving initiatives and focus on ramping up its Branded
Manufacturing Commerce business over the next year.

In addition, given the private equity ownership, the company's
commitment to maintaining more conservative financial metrics is
uncertain.  Following the company's significant debt pay downs, the
risk of more aggressive financial policies will remain and could
result in increased leverage to fund acquisition activity, internal
investments or dividend payments.

The B2 CFR reflects Digital River's concentrated business profile
and small scale relative to larger technology and payment
processing companies with greater financial resources.  Digital
River is heavily reliant on Microsoft, which represents about one
third of total revenues.  While the company extended its contract
with Microsoft to March 2017 (with Microsoft having the option to
extend for up to 4 separate 6 month renewal terms), the risk of a
contract downsizing or termination at maturity represents a key
rating constraint.  The B2 rating is supported by Digital River's
longstanding client base of leading software companies and
favorable industry dynamics in the global eCommerce market
(projected growth rates above 10%).

The stable outlook reflects Moody's expectation that Digital River
will generate at least mid-single digit annual revenue growth and
steadily improving profitability.  Operating performance will
likely be supported by the growth rate of the global eCommerce
market which is expected to grow at multiples of Moody's projected
global GDP growth of 3% in 2016.

What Could Change the Rating - UP

The ratings could be upgraded if Digital River achieves double
digit revenue growth, an increasingly diversified customer base,
free cash flow to debt of at least 10%, and adjusted debt to EBITDA
below 3.5 times on a sustained basis with an expectation of
disciplined financial policies.

What Could Change the Rating - DOWN

Downward ratings pressure could result if profitability declines or
financial policies become more aggressive with debt funded dividend
payments or acquisitions such that adjusted debt to EBITDA is
expected to be sustained above 5 times, liquidity deteriorates
(e.g., negative cash flow or decreasing covenant cushion), or
customer churn increases.

These ratings (assessments) were affirmed or upgraded:

  Corporate Family Rating -- affirmed at B2

  Probability of Default Rating -- affirmed at B2-PD

  Senior Secured Revolving Credit Facility -- upgraded to Ba3
   (LGD2) from B1 (LGD3)

  Senior Secured First Lien Term Loan -- upgraded to Ba3 (LGD2)
   from B1 (LGD3)

  Senior Secured Second Lien Term Loan -- upgraded to B3 (LGD5)
   from Caa1 (LGD5)

The rating outlook is stable.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014.

Digital River, Inc., with projected annual revenues of about $350
million, is a provider of eCommerce solutions that support the sale
and fulfillment of primarily software and gaming products. The
company also provides online payment processing services.



ERF WIRELESS: Manny Carter Resigns as Director
----------------------------------------------
ERF Wireless, Inc., received and accepted the resignation of Manny
M. Carter as director of the Company, effective Nov. 1, 2015.  Mr.
Carter had served as a director since October 2012.  Carter stated
that he was resigning for personal reasons.

                          About ERF Wireless

Based in League City, Texas, ERF Wireless, Inc., provides secure,
high-capacity wireless products and services to a broad spectrum of
customers in primarily underserved, rural and suburban parts of the
United States.

ERF Wireless reported a net loss attributable to the company of
$7.26 million in 2013, a net loss of $4.81 million in 2012, and a
net loss of $3.37 million in 2011.

As of Sept. 30, 2014, the Company had $3.59 million in total
assets, $10.4 million in liabilities, and a $6.84 million
shareholders' deficit.


ESSAR STEEL: Holding's Chapter 15 Case Summary
----------------------------------------------
Chapter 15 Petitioner: Robert Sandoval, General Counsel

Chapter 15 Debtor: Algoma Holdings B.V.
                   105 West Street
                   Sault Ste. Marie
                   Ontario P6A 7B4
                   Canada

Chapter 15 Case No.: 15-12349

Type of Business: Holding Company

Chapter 15 Petition Date: November 20, 2015

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

Judge: Hon. Brendan Linehan Shannon

Chapter 15 Petitioner's Counsel: Daniel J. DeFranceschi, Esq.
                                 RICHARDS, LAYTON & FINGER, P.A.
                                 One Rodney Square, P.O. Box 551
                                 Wilmington, DE 19899
                                 Tel: 302 651-7700
                                 Fax: 302-651-7701
                                 Email: defranceschi@rlf.com

                                   - and -

                                 Amanda R. Steele, Esq.
                                 RICHARDS, LAYTON & FINGER, P.A.  

                                 920 N. King Street
                                 Wilmington, DE 19801
                                 Tel: 302-651-7838
                                 Fax: 302-428-7838
                                 Email: steele@rlf.com

Estimated Assets: More than $1 billion

Estimated Debts: More than $1 billion


F-SQUARED INVESTMENT: Plan Filing Exclusivity Extended to March 4
-----------------------------------------------------------------
Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware extended F-Squared Investment Management,
LLC, et al.'s exclusive plan filing period through and including
March 4, 2015, and their exclusive solicitation period through and
including May 4, 2015.

On Oct. 28, 2015, the Debtors and the Official Committee of
Unsecured Creditors filed the Joint Plan of Liquidation under
Chapter 11 of the Bankruptcy Code and related disclosure statement.
The Plan, according to Michael J. Merchant, Esq., at Richards,
Layton & Finger, P.A., in Wilmington, Delaware, is the result of
extensive negotiations with the Committee and provides for the most
efficient and cost-effective means of orderly liquidating the
Debtors' estates and providing distributions to stakeholders.

A hearing to consider approval of the Disclosure Statement has been
scheduled for Dec. 7, 2015 at 10:00 a.m. (Eastern Time).  In
addition to pursuing approval of the Disclosure Statement and
confirmation of the Plan, the Debtors intend to file and prosecute
objections to several large contested claims that were filed in the
Chapter 11 Cases, Mr. Merchant told the Court.

The Debtors require additional time to pursue confirmation of the
Plan and to address any unforeseen delays experienced in connection
with those efforts, Mr. Merchant asserted.

                   About F-Squared Investment

Headquartered in Wellesley, MA, F-Squared Investments, Inc. --
http://www.f-squaredinvestments.com-- is a privately owned   
investment manager.  The firm primarily provides its services to
other investment advisers.  It also caters to individuals, high net
worth individuals, and pension and profit sharing plans.  The firm
provides index management services.  It manages separate
client-focused equity, fixed income, and multi-asset portfolios.
The firm invests in the public equity, fixed income, and
alternative investment markets across the globe.  It makes all its
investments through exchange-traded funds.  The firm invests in
small-cap stocks of companies across diversified sectors.

F-Squared Investment Management, LLC and eight of its affiliates
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case
No.
15-11469) on July 8, 2015.  The petition was signed by Laura Dagan
as president and chief executive officer.  The cases are assigned
to Laurie Selber Silverstein.

Richards, Layton & Finger, P.A. serves as the Debtors' counsel.
Gennari Aronson, LLP represents the Debtors as special corporate
counsel.  Grail Advisory Partners LLC (d/b/a PL Advisors) and
Managed Account Services, LLC act as the Debtors' financial
advisors and investment bankers.  Stillwater Advisory Group LLC is
the Debtors' crisis managers and restructuring advisors.  BMC
Group, Inc. acts as the Debtors' claims and noticing agent.

                       *     *     *

The hearing to consider approval of the Disclosure Statement
explaining the Chapter 11 Plan of Liquidation of F-Squared
Investment Management, LLC, et al., will be held on Dec. 7, 2015,
at 10:00 a.m. (prevailing Eastern Time) before Judge Laurie Selber
Silverstein of the U.S. Bankruptcy Court for the District of
Delaware.

The sale of substantially all of the Debtors' assets to Broadmeadow
Capital, LLC, closed on Sept. 8, 2015

The Plan provides for the establishment of the F-Squared
Liquidating Trust for the purposes of, among other things, (i)
administering the Debtors' remaining assets, (ii) reconciling
claims against the Debtors, (iii) objecting to and/or moving to
estimate or recharacterize the claims, (iv) prosecuting estate
causes of action, and (v) making distributions.

A full-text copy of the Plan dated Oct. 28 is available at
http://bankrupt.com/misc/FSIds1028.pdf


FEDERATION EMPLOYMENT: To Sell Interests in Manhattan Apartment
---------------------------------------------------------------
Federal Employment and Guidance Service Inc. received court
approval to sell its interests in a cooperative apartment to New
York Foundling Hospital.

The order, issued by U.S. Bankruptcy Judge Robert Grossman,
approved the company's deal with the hospital, which offered
$375,000 for its interests in an apartment unit in Manhattan.

The unit was previously occupied by a former FEGS patient who is
now under the care of New York Foundling Hospital.  The patient
will be transferred to his former home once the sale is completed.


The Office of People with Developmental Disabilities will provide
$345,000 to the hospital to fund the acquisition.

Federal Employment previously entered into a deal with another
buyer, who made a $350,000 offer for the apartment unit.  The deal
did not push through after the initial buyer declined to increase
his offer.  He will receive reimbursement in the amount of $3,715
at the closing of sale, court filings show.

                            About FEGS

Established in 1934 amidst the Great Depression, Federation
Employment & Guidance Service, Inc. ("FEGS") is a not-for-profit
provider of various health and social services to more than 120,000
individuals annually in the areas of behavioral health,
disabilities, housing, home care, employment/workforce, education,
youth and family services.  At its peak, FEGs' network of programs
operated over 350 locations throughout metropolitan New York and
Long Island and employed 2,217 highly skilled professionals.

FEGS sought Chapter 11 bankruptcy protection (Bankr. E.D.N.Y. Case
No. 15-71074) in Central Islip, New York on March 18, 2015.

The Debtor filed applications to hire Garfunkel, Wild, P.C., as
general bankruptcy counsel; Togut, Segal & Segal, LLP, as
co-counsel; JL Consulting LLC as Restructuring Advisor, as
restructuring advisor; Crowe Horwath, LLP as accountants; and Rust
Consulting/Omni Bankruptcy as claims and noticing agent.

The Debtor disclosed $86,697,814 in assets and $45,572,524 in
liabilities as of the Chapter 11 filing.

The U.S. Trustee for Region 2 appointed three members to the
Official Committee of Unsecured Creditors.  The Committee tapped
Pachulski Stang Ziehl & Jones LLP as its counsel.


FREESEAS INC: Announces New Charter for Vessel
----------------------------------------------
FreeSeas Inc. announced that the Company-owned vessel M/V Free
Neptune, a 1996-built, 30,838 dwt Handysize vessel, has contracted
a voyage charter of approximately 35 days duration, yielding an
estimated equivalent T/C rate of approximately $7,000 per day.

                         About FreeSeas Inc.

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

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

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

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

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


FTE NETWORKS: Announces Initial Settlement Date for Tender Offer
----------------------------------------------------------------
FTE Networks, Inc., announced an initial settlement date of
Nov. 12, 2015, for its cash tender offer to purchase 80% to 100% of
its outstanding Senior Secured Promissory Notes.  As of
Nov. 12, 2015, the company has received 97% participation in the
Offer.  The Offer will remain until 11:59 p.m., New York City time,
on Dec. 4, 2015, unless extended or earlier terminated.

Details of the Offer

On Nov. 4, 2015, the Company commenced the Offer to purchase for
cash, upon the terms and subject to the conditions set forth in the
offer to purchase and the related letter of transmittal, up to an
aggregate of $3,514,511.88 principal amount, but not less than an
aggregate of $2,811,609.51 principal amount of the Notes.  These
amounts represent approximately 100% and 80% of the aggregate
principal amount of the outstanding Notes, respectively. As of the
time of this press release, an aggregate of $3,420,022.32 principal
amount of the Notes, or approximately 97% of the outstanding Notes,
have been tendered.  There is no established trading market for the
Notes.

Holders who tendered their Notes prior to the Initial Settlement
Date, and whose Notes have been accepted for purchase by the
Company, will receive the tender offer consideration of $400 per
$1,000 principal amount of the Notes, as well as the premium
consideration of $100 per $1,000 principal amount of the Notes, on
the Initial Settlement Date.  Holders who tender their Notes on or
subsequent to the Initial Settlement Date and prior to the
expiration of the Offer, and whose Notes are accepted for purchase
by the Company, will receive the Tender Offer Consideration (and
the Premium Consideration if the Notes are tendered prior to 11:59
p.m., New York City time, on Nov. 19, 2015) on the final settlement
date, which is expected to be the next business day following
expiration of the Offer.

                      About FTE Networks, Inc.

FTE Networks, formerly known as Beacon Enterprise Solutions Group,
Inc., is a vertically integrated company with an international
footprint.  Since its inception, FTE Networks has steadily
advanced its management, operational and technical capabilities to
become a leading provider of services to the telecommunications
and wireless sector with a focus on turnkey solutions.  FTE
Networks provides a comprehensive array of services centered on
quality, efficiency and customer service.

As of June 30, 2015, the Company had $4.10 million in total assets,
$13.64 million in total liabilities and a $9.53 million total
stockholders' deficiency.

                        Bankruptcy Warning

"[W]e have not achieved a sufficient level of revenues to support
our business and development activities and have suffered
substantial recurring losses from operations since our inception,
which conditions raise substantial doubt that we will be able to
continue operations as a going concern.

"Management's plans are to continue to raise additional funds
through the sales of debt or equity securities.  Currently in
process, management's plans are to increase liquidity and enhance
capital resources by attempting to complete negotiations for a $6
million asset-based line of credit which is in the final phases of
the approval process and completion of refinancing $3.5 million of
senior secured notes which will generate an approximate $1.45
million of availability to be used for expansion of the business.
However, there is no assurance that additional financing, including
the aforementioned transactions, will be available when needed or
that management will be able to obtain and close financing on terms
acceptable to the Company and whether the Company will become
profitable and generate positive operating cash flow.  If the
Company is unable to raise sufficient additional funds, it will
have to develop and implement a plan to further extend payables and
reduce overhead until sufficient additional capital is raised to
support further operations, which would have a material adverse
effect on the Company's business, financial condition and results
of operations, and ultimately we could be forced to discontinue our
operations, liquidate and/or seek reorganization under the U.S.
bankruptcy code," the Company stated in its quarterly report for
the period ended June 30, 2015.


GENESYS RESEARCH: Trustee Has Deal With Former Employee
-------------------------------------------------------
Harold B. Murphy, Chapter 11 Trustee of the bankruptcy estate of
GeneSys Research Institute, Inc., asks the U.S. Bankruptcy Court
for the District of Massachusetts, Eastern Division, to approve a
stipulation that he had entered into with Christine E. Briggs,
PhD., the Debtor's former employee.

Ms. Briggs is a research scientist and member of the Center of
Cancer Systems Biology ("CCSB"), formerly a major component of the
Debtor.

Debtor GeneSys Research Institute, Inc. had previously filed a
motion ("Turnover Motion"), seeking the turnover of a certain
laptop and certain paper files used or created by Ms. Briggs during
the course of her employment by the Debtor.  Ms. Briggs, objected
to the Turnover Motion, contending that she had already given
Attorney Adrienne Walker a portable drive containing electronic
copies of the entirety of her files from the CCSB during her Sept.
20, 2015 deposition.  Ms. Briggs contended that the originals of
the files are still on her former desktop work computer at GRI and
were already in the possession of the estate. She further contended
that she has no property, information, files or documents of any
kind belonging to GRI or information pertaining to any property of
GRI.  Ms. Briggs relates that she was  loaned a 2009 Mac laptop by
CCSB for offsite work-related activities by CCSB in 2012, when CCSB
was a Steward entity, and that the said laptop remains on loan from
the CCSB to her, an active member of the research faculty at the
CCSB.

Mr. Murphy tells the Court that on Oct. 21, 2015, prior to the
evidentiary hearing set by the Court on Nov. 16, 2015, Ms. Briggs
visited his office and allowed him to copy the hardrive of the
Laptop and turned the files over to him.  He further tells the
Court that no substantive dispute remains between the Trustee and
Ms. Briggs regarding the Turnover Motion and that they wish to
resolve their differences without further expense and delay.

Mr. Murphy relates that he had entered into a stipulation with
Ms. Briggs, which provides that the Turnover Motion will be deemed
withdrawn upon approval of the stipulation by the Bankruptcy Court,
as Ms. Briggs has already provided the information requested by the
Turnover Motion to the Trustee.

GeneSys Research Institute is represented by:

          Nina M. Parker, Esq.
          PARKER & ASSOCIATES
          10 Converse Plance
          Winchester, MA 01890
          Telephone: (781)729-0005
          E-mail: nparker@ninaparker.com

Harold B. Murphy, Chapter 11 Trustee, is represented by:

          Christopher M. Condon, Esq.
          MURPHY & KING
          One Beacon Street
          Boston, MA 02108
          Telephone: (617)423-0400
          Facsimile: (617)556-8985
          Email: ccondon@murphyking.com

                      About GeneSys Research

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



GUIDED THERAPEUTICS: Incurs $2.73-Mil. Net Loss in Third Quarter
----------------------------------------------------------------
Guided Therapeutics, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common stockholders of $2.73 million on $8,000 of
contract and grant revenue for the three months ended Sept. 30,
2015, compared to a net loss attributable to common stockholders of
$3.01 million on $22,000 of contract and grant revenue for the same
period in 2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss attributable to common stockholders of $7.01 million on
$33,000 of contract and grant revenue compared to a net loss
attributable to common stockholders of $6.81 million on $52,000 of
contrat and grant revenue for the same period a year ago.

As of Sept. 30, 2015, the Company had $2.76 million in total
assets, $6.25 million in total liabilities and a total
stockholders' deficit of $3.48 million.

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

                      http://is.gd/1ntk4V

                   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.


GUIDED THERAPEUTICS: Stockholders OK Hike of Authorized Shares
--------------------------------------------------------------
Guided Therapeutics, Inc., held a special meeting of stockholders
on Nov. 11, 2015, at its office in Norcross, Georgia.

At the meeting, the stockholders approved an amendment to the
Company's Certificate of Incorporation to increase the number of
authorized shares of its common stock to a total of 1,000,000,000
shares.  The stockholders also approved an amendment to the
Company's Certificate of Incorporation to effect a reverse stock
split, in a ratio to be determined by the Company's board of
directors ranging from 1-for-10 to 1-for-100, of all issued and
outstanding shares of the Company's common stock, at a time in the
three years following such approval to be determined by the board.

                     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 Sept. 30, 2015, the Company had $2.76 million in total
assets, $6.25 million in total liabilities and a total stockhoders'
deficit of $3.48 million.


GUNBOAT INTERNATIONAL: Files for Chapter 11 Bankruptcy Protection
-----------------------------------------------------------------
Gunboat International, Ltd., filed for Chapter 11 bankruptcy
protection (Bankr. E.D.N.C. Case No. 15-06271) on Nov. 18, 2015,
estimating assets between $1 million and $10 million and
liabilities at between $10 million and $50 million.  The petition
was signed by Peter Johnstone, president.

Citing Mr. Johnstone, Scuttlebutt.com relates that the decision
followed a two year period of adverse business circumstances.  The
report quoted Mr. Johnstone as saying, "In a period of non-stop
accolades and introduction of several terrific new models, Gunboat
has been quietly struggling behind the scenes for nearly two years.
It has been a perfect storm of adverse business circumstances,
mistakes, and disputes.  A brief summary from my
viewpoint/opinion:

      -- The Chinese built Gunboat 60 series cost Gunboat a
         fortune to sort out.  The Chinese builder has fought its
         contractual obligations to manage, support, pay and
         reimburse for the completion, rework and warranty costs.
         Gunboat felt an obligation to its customers and spent
         millions out of pocket, which proved to be a huge strain
         on our resources, focus and productivity;

      -- The G4 capsize in April, and the recent photo boat
         collision on a magazine boat test in Annapolis have
         thwarted sales of this series to date.  The investment
         was made.  The return is in the future;

      -- The abandonment of RAINMAKER by her owner and crew
         certainly was not helpful to a new series.  The Gunboat
         55 is a great boat, and it will take time for that word
         to get out; and

      -- The ramp up of production in North Carolina took longer
         and cost more."

Judge David M. Warren presides over the case.

Laurie B. Biggs, Esq., and Trawick H Stubbs, Jr., Esq., at Stubbs &
Perdue, PA, serves as the Company's bankruptcy counsel.

Headquartered in Wanchese, North Carolina, Gunboat International,
Ltd. -- fdba Pure Yachting, Ltd, and Gunboat Company -- is a
provider of high performance, luxury catamarans.


H. KREVIT AND COMPANY: Hires Joseph Vitale as Corporate Counsel
---------------------------------------------------------------
H. Krevit and Company, Incorporated, et al., ask the Bankruptcy
Court to approve their retention of Joseph A. Vitale as their
corporate counsel.  The Debtors relate Vitale has served as their
general corporate counsel for many years and his knowledge and
expertise is necessary to effectuate their plan through this
chapter 11 cases.

The Debtors desire to employ Vitale on an hourly basis at a
discounted hourly rate of $275 and to reimburse him for his
post-petition expenses.  Vitale has been paid a retainer of $15,000
for services to be rendered in connection with this Chapter 11
case.

Vitale represents it has no interest adverse to the Debtors or the
estate in matters upon which he is to be engaged.

                    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: Seeks Joint Administration of Cases
----------------------------------------------------------
H. Krevit and Company, Incorporated, GreenChlor, Inc., GCTR Realty,
LLC and HKC Trucking, LLC ask the Bankruptcy Court to jointly
administer their Chapter 11 cases.

The Debtors relate that joint administration of their estates will
be less expensive and more efficient than separate administration
because common administrative issues and motions will predominate.
They maintain that joint administration will not impair the
substantive rights of creditors.

Barry S. Feigenbaum, Esq., at Rogin Nassau LLC, counsel for the
Debtors, tells the Court that:

  -- each of the Debtors is jointly and severally liable on the
     same debt to their primary secured lender;

  -- each of the Debtors' books and records are maintained by the
     same accounting staff and have in the past reported their
     financial condition on audited consolidated financial
     statements;

  -- the Debtors share the same team of management, lawyers,
     investment bankers and accountants;

  -- the Debtors operate as a consolidated business enterprise to
     manufacture, distribute and sell inorganic chemicals; and

  -- virtually all of the issues pertaining to one of the Debtors
     pertain to all of them.

                    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: Taps TNCP LLC as Financial Advisors
----------------------------------------------------------
H. Krevit and Company, Incorporated, et al., seek permission from
the Bankruptcy Court to employ TNCP, LLC, a wholly owned subsidiary
of TrueNorth Capital Partners LLC, as their financial advisors to
provide advice and assistance in:

   (i) the sale of substantially all of the assets of their
       business;

  (ii) securing financing; and

(iii) such other services as the as the Debtors and TrueNorth
       will from time to time reasonably agree upon.

TrueNorth is a financial advisory firm which provides assistance to
clients in need of financial restructuring advisory services,
business and strategic plan development, risk assessment, placement
of debt and equity capital, and general business due diligence.

The Debtors relate TrueNorth has provided financial advisory
services to them since July 16, 2015, and is familiar with their
business and industry.

In particular, TrueNorth conducted a comprehensive search for a
party to purchase the Debtors or otherwise invest in them.  This
effort led to the purchase of the Debtors' outstanding senior
secured debt by AJM Industries LLC.

Frederick Rossetti and Jeffrey Gaynor are both managing directors
of TrueNorth and will be primarily responsible for providing the
services.

According to the Debtors, Mr. Rossetti and Mr. Gaynor and TrueNorth
represent no interest adverse to their estate.

To the Debtors' knowledge, Mr. Rossetti, Mr. Gaynor and TrueNorth
are "disinterested persons" as that term is defined under Section
101(14) of the Bankruptcy Code.

                    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: Wants Dec. 15 Deadline to File Schedules
---------------------------------------------------------------
H. Krevit and Company, Incorporated, et al., ask the Bankruptcy
Court to extend their deadline to file their schedules of assets
and liabilities and statements of financial affairs to Dec. 15,
2015.  The Debtors maintain that due to the size of the estates and
their limited accounting staffs, they will require more time to
prepare their Schedules and Statements.

                    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).


HD SUPPLY: Presented at Robert W. Baird Conference
--------------------------------------------------
HD Supply, Inc. gave a presentation at the Robert W. Baird & Co.
2015 Industrial Conference on Nov. 11, 2015.  A copy of the slides
used at the presentation is available for free at:

                         http://is.gd/nTPhag

                          About HD Supply

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

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

                           *     *     *

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

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


HEALTHWAREHOUSE.COM INC: Melrose OKs Increase of Sr. Notes to $1M
-----------------------------------------------------------------
Healthwarehouse.com is a party to a Loan and Security Agreement,
dated as of March 28, 2013, as amended on March 9, 2015, and
Sept. 8, 2015, with Melrose Capital Advisors, LLC.  Under the terms
of the Loan Agreement, the Company borrowed an aggregate of
$750,000 from the Lender.  The Loan is evidenced by a promissory
note in the face amount of $750,000, as amended.  The principal
amount and all unpaid accrued interest on the Senior Note is
payable on Nov. 1, 2015, or earlier in the event of default or a
sale or liquidation of the Company.

The Company granted the Lender a first priority security interest
in all of the Company's assets, in order to secure the Company's
obligation to repay the Loan, including a Deposit Account Control
Agreement, dated as of Aug. 18, 2014, and a Deposit Account Control
Agreement dated as of Oct. 22, 2015, which grants the Lender a
security interest in certain bank accounts of the Company.  Upon
the occurrence of an event of default, the Lender has the right to
impose interest at a rate equal to five percent per annum above the
otherwise applicable interest rate.  The repayment of the Loan may
be accelerated prior to the maturity date upon certain specified
events of default, including failure to pay, bankruptcy, breach of
covenant, and breach of representations and warranties.

On Nov. 11, 2015, the Company and the Lender entered into a Loan
Extension Agreement and an Amended and Restate Promissory Note,
both effective Nov. 1, 2015, pursuant to which the Lender agreed to
increase the face amount of the Senior Note to $1,000,000 and to
extend the maturity date of the Senior Note to Dec. 31, 2015.  In
consideration of the Lender increasing the face amount and
extending the maturity date of the Senior Note, the Company granted
the Lender a five-year warrant to purchase 250,000 shares of common
stock of the Company at an exercise price of $0.12 per share and
agreed to decrease the exercise price from $0.35 to $0.12 on
375,000 warrants previously issued to the Lender.  The Warrant
contains customary anti-dilution provisions.

                    About HealthWarehouse.com

HealthWarehouse.com, Inc., headquartered in Florence, Kentucky,
is a U.S. licensed virtual retail pharmacy ("VRP") and healthcare
e-commerce company that sells brand name and generic prescription
drugs as well as over-the-counter medical products.

Healthwarehouse.com reported a net loss attributable to common
stockholders of $2.08 million on $6.12 million of net sales for the
year ended Dec. 31, 2014, compared with a net loss attributable to
common stockholders of $7.3 million on $10.23 million of net sales
in 2013.

As of June 30, 2015, the Company had $1.2 million in total assets,
$4.7 million in total liabilities and a $3.5 million total
stockholders' deficiency.

Marcum LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2014, citing that the Company has incurred significant losses and
needs to raise additional funds to meet its obligations and sustain
its operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.

                         Bankruptcy Warning

"The Company recognizes it will need to raise additional capital in
order to fund operations, meet its payment obligations and execute
its business plan.  There is no assurance that additional financing
will be available when needed or that management will be able to
obtain financing on terms acceptable to the Company and whether the
Company will become profitable and generate positive operating cash
flow.  If the Company is unable to raise sufficient additional
funds, it will have to develop and implement a plan to further
extend payables, attempt to extend note repayments, attempt to
negotiate the preferred stock redemption and reduce overhead until
sufficient additional capital is raised to support further
operations.  There can be no assurance that such a plan will be
successful.  If the Company is unable to obtain financing on a
timely basis, the Company could be forced to sell its assets,
discontinue its operation and /or seek reorganization under the
U.S. bankruptcy code," the Company stated in its quarterly report
for the period ended June 30, 2015.


HI-CRUSH PARTNERS: S&P Revises Outlook to Neg. & Affirms 'B+' CCR
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its rating
outlook on Hi-Crush Partners L.P. to negative from stable.  S&P
also affirmed its 'B+' corporate credit rating on the company.

At the same time, S&P affirmed its 'BB-' issue-level rating on the
company's senior secured credit facilities.  S&P's recovery rating
on the senior secured debt remains '2', indicating its expectation
for substantial (70% to 90%; upper half of the range) recovery in
the event of a payment default.

"The negative rating outlook reflects our view that Hi-Crush's
EBITDA and cash flows will trend lower, placing further pressure on
the company's credit measures and liquidity position over the next
12 months as a result of lower demand and weaker pricing for frac
sand," said Standard & Poor's credit analyst Ryan Gilmore.

S&P could lower the rating if it no longer deemed liquidity to be
adequate or if debt to EBITDA exceeded 5x.  This could occur if
Hi-Crush breached a covenant governing its revolving credit
facility or if pricing for frac sand remained stagnant or weakened
from current levels and 2016 EBITDA fell below $55 million.

It is unlikely that S&P would raise the rating in the next 12
months given the current weakness in Hi-Crush's operating
environment.  However, a positive rating action would most likely
result from an improved business risk profile assessment.  This
could take the form of a growing track record demonstrating the
partnership's ability to fulfill and increase customer contracts,
the successful integration of acquisitions, and consistent
profitability levels while controlling increases in leverage.



HOUGHTON MIFFLIN: Fitch Affirms 'B+' Issuer Default Ratings
-----------------------------------------------------------
Fitch Ratings has affirmed the 'B+' Issuer Default Ratings (IDRs)
of Houghton Mifflin Harcourt Publishers Inc. (HMH) and its
subsidiaries. Fitch has also affirmed HMH's senior secured term
loan at 'BB+/RR1'. The Rating Outlook is Stable.

KEY RATING DRIVERS

Fitch's rating has consistently incorporated the belief that HMH's
capital structure was not permanent and that leverage would
increase to fund acquisitions and/or shareholder returns. Recent
actions by the company confirm Fitch's expectations. In May 2015,
HMH upsized their existing term loan to $800 million to fund the
acquisition of Scholastic's Educational Technology and Services
business (EdTech) and a $300 million incremental share repurchase
program. Concurrent with reporting its results for the third
quarter ended Sept. 30, 2015, HMH announced that its board approved
an additional $500 million in share repurchases, increasing the
program total to $1 billion through the end of 2018 (as of Sept.
30, 2015, approximately $760 million would have been available).
The company simultaneously announced that it would issue $250
million of debt, although they did not provide details regarding
timing.

Pro forma for the EdTech acquisition and related debt issuance
only, total Fitch-calculated leverage at Sept. 30, 2015 was 4.5x
using total debt to EBITDA and 3.3x using Funds From Operations
(FFO) Adjusted Leverage. Fitch focuses on FFO Adjusted Leverage to
measure Total Leverage given the increase in revenue recognition
timing differences arising from digital revenue growth. As a result
of GAAP treatment of digital revenues, a growing portion of total
annual revenues are deferred over an adoption's term. Although
digital cash receipts in a given year may eventually match revenues
recognized in that year, Fitch does not expect that to occur within
the rating horizon.

HMH continues to be a leader in the K-12 educational material and
services sector, capturing 40% of its Association of American
Publishers' addressable market. Fitch believes investments made in
digital products and services will position HMH to take a
meaningful share of the rebound in the K-12 educational market.
Fitch expects HMH will be able to, at a minimum, maintain its
market share.

HMH has significant financial flexibility to invest in digital
content and new business initiatives. These investments into
international markets and adjacent K-12 educational material
markets may provide diversity away from highly cyclical state and
local budgets.

The Recovery Rating reflects a restructuring scenario, assuming
going-concern EBITDA of $250 million resulting in an adjusted,
distressed enterprise valuation of $1.5 billion using a 6x
multiple. Given the strong recovery prospects, the $250 million
asset-backed credit facility and $800 million senior secured term
loan were notched up to 'BB+/RR1'. The $250 million going-concern
EBITDA is adjusted to include changes in deferred revenues to
account for the growing importance of digital revenues.

KEY ASSUMPTIONS

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

-- 2015 estimate is pro forma for the Ed Tech acquisition;
-- Mid-single digit revenue growth for 2016, 2017 and 2018;
-- Margin improvement driven by continued growth in higher margin

    digital revenues;
-- $250 million of debt issuance in 2016;
-- $250 million of annual share buybacks.

RATING SENSITIVITIES

Positive rating actions may be considered if a clear financial
policy commensurate with a higher rating is communicated, which
could include a leverage target and/or strategy around shareholder
policy in terms of dividends and share buybacks. Also, long-term,
meaningful diversification into international markets and into new
business initiatives could lead to positive rating actions. In
addition, HMH demonstrating that it can consistently generate
positive Fitch-calculated free cash flow (FCF) in excess of Fitch's
expectations may drive positive rating momentum.

A negative rating action would occur if the company exceeds 4.5x
FFO adjusted leverage, which would be outside a level expected for
a B+ rating. The company's recent comments regarding increased
shareholder returns and new debt issuance could exacerbate this
scenario. Although HMH could present a credible plan for returning
total leverage to a level more acceptable for the rating, this
scenario is not expected given that the company has not provided a
total leverage target at this time. An additional negative rating
action driver would occur if HMH begins experiencing significant
erosion in market share.

LIQUIDITY

As of Sept. 30, 2015, the company had solid liquidity consisting of
$377 million in cash and $146 million in short-term investments and
$203 million of availability under its $250 million asset-backed
revolver, due 2017. HMH's liquidity position and overall financial
flexibility is supported by FCF, which amounted to approximately
$182 million for the LTM period ended Sept. 30, 2015. Fitch expects
pro forma FCF to range from $175 million to $250 million during the
ratings horizon. Maturities are manageable with $8 million of
annual amortization under an $800 million secured term loan that
matures in 2021.

Fitch expects HMH to continue to deploy cash towards organic
growth, share repurchases, and acquisitions in digital and adjacent
K-12 educational material markets. Fitch believes HMH has
sufficient liquidity to fund these actions over the next three
years within the context of the current rating.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the following ratings:

Houghton Mifflin Harcourt Publishers Inc.
-- Long-term IDR at 'B+';
-- Senior secured asset-backed revolver at 'BB+/RR1';
-- Senior secured term loan at 'BB+/RR1'.

Houghton Mifflin Harcourt Publishing Company
-- Long-term IDR at 'B+'.

HMH Publishers LLC
-- Long-term IDR at 'B+'.

The Rating Outlook is Stable.



IMH FINANCIAL: Incurs $7.1 Million Net Loss in Third Quarter
------------------------------------------------------------
IMH Financial Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common shareholders of $7.12 million on $6.11
million of total revenue for the three months ended Sept. 30, 2015,
compared to a net loss attributable to common shareholders of $23.4
million on $7.99 million of total revenue for the same period in
2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss attributable to common shareholders of $7.13 million on
$25.0 million of total revenue compared to a net loss attributable
to common shareholders of $27.9 million on $23.5 million of total
revenue for the same period last year.

As of Sept. 30, 2015, the Company had $209 million in total assets,
$122 million in total liabilities, $29.04 million in redeemable
convertible preferred stock, and $57.7 million in total
stockholders' equity.

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

                      http://is.gd/hzIvw8

                       About IMH Financial

Scottsdale, Ariz.-based IMH Financial Corporation was formed from
the conversion of IMH Secured Loan Fund, LLC, or the Fund, a
Delaware limited liability company, on June 18, 2010.  The
conversion was effected following a consent solicitation process
pursuant to which approval was obtained from a majority of the
members of the Fund to effect the Conversion Transactions and
involved (i) the conversion of the Fund from a Delaware limited
liability company into a Delaware corporation named IMH Financial
Corporation, and (ii) the acquisition by the Company of all of the
outstanding shares of the manager of the Fund Investors Mortgage
Holdings Inc., or the Manager, as well as all of the outstanding
membership interests of a related entity, IMH Holdings LLC, or
Holdings on June 18, 2010.

IMH Financial reported a net loss attributable to common
shareholders of $39.5 million in 2014, a net loss attributable to
common shareholders of $26.2 million in 2013 and a net loss
attributable to common shareholders of $32.2 million in 2012.


IMH FINANCIAL: Outside Directors Invest in Company Subsidiary
-------------------------------------------------------------
Three outside directors of IMH Financial Corporation, Leigh
Feuerstein, Andrew Fishleder and Jay Wolf, each, either
individually or through affiliated entities, entered into
subscription agreements to purchase Class B limited liability
company interests in one of the Company's subsidiaries.

The JV Subsidiary is a member of a joint venture with a national
real estate and land development company, which joint venture was
formed for the purpose of acquiring and developing approximately
127 acres of land near Park City, Utah.

As of Nov. 10, 2015, the Company has raised a total of $1.65
million through the issuance of Class B Interests in the JV
Subsidiary.  Of that amount, $0.4 million is from personal
investments made by Messrs. Feuerstein, Fishleder and Wolf,
directly or through affiliated entities.  Mr. Wolf is also the
managing member of an entity that purchased $1.15 million in Class
B Interests (including the $0.25 million personal investment by Mr.
Wolf and $0.9 million invested by unrelated third parties).

Each of the investments by Messrs. Feuerstein, Fishleder and Wolf
were approved as fair to, and in the interests of, the Company by a
special committee of the Company's board of directors, which
committee was comprised solely of non-management and non-investing
directors.

The JV Subsidiary intends to raise up to an additional $0.35
million from the sale of Class B Interests to non-affiliated
parties.

                           About IMH Financial

Scottsdale, Ariz.-based IMH Financial Corporation was formed from
the conversion of IMH Secured Loan Fund, LLC, or the Fund, a
Delaware limited liability company, on June 18, 2010.  The
conversion was effected following a consent solicitation process
pursuant to which approval was obtained from a majority of the
members of the Fund to effect the Conversion Transactions and
involved (i) the conversion of the Fund from a Delaware limited
liability company into a Delaware corporation named IMH Financial
Corporation, and (ii) the acquisition by the Company of all of the
outstanding shares of the manager of the Fund Investors Mortgage
Holdings Inc., or the Manager, as well as all of the outstanding
membership interests of a related entity, IMH Holdings LLC, or
Holdings on June 18, 2010.

IMH Financial reported a net loss attributable to common
shareholders of $39.5 million in 2014, a net loss attributable to
common shareholders of $26.2 million in 2013 and a net loss
attributable to common shareholders of $32.2 million in 2012.

As of Sept. 30, 2015, the Company had $208.56 million in total
assets, $121.78 million in total liabilities, $29.04 million in
redeemable convertible preferred stock, and $57.73 million in total
stockholders' equity.


IMH FINANCIAL: Repays $28.8 Million Loans
-----------------------------------------
IMH Financial Corporation disclosed with the Securities and
Exchange Commission that on Oct. 27, 2015, it fully repaid two
loans totaling $28.8 million which were obtained in February 2015
and originally scheduled to mature in February 2017.  

The REO Loans were secured by a) first liens on certain operating
and non-operating real estate assets owned by affiliates of the
Company, b) pledges by certain Company affiliates of their
interests in certain mortgage loan documents evidencing payment
obligations owed to such affiliates and c) the Company's membership
interest in its multifamily development joint venture in Minnesota.
The repayment of the REO Loans was made utilizing proceeds from
the restricted collateral account required under the REO Loans.
The Company did not incur any material termination penalties as a
result of this prepayment.

                        About IMH Financial

Scottsdale, Ariz.-based IMH Financial Corporation was formed from
the conversion of IMH Secured Loan Fund, LLC, or the Fund, a
Delaware limited liability company, on June 18, 2010.  The
conversion was effected following a consent solicitation process
pursuant to which approval was obtained from a majority of the
members of the Fund to effect the Conversion Transactions and
involved (i) the conversion of the Fund from a Delaware limited
liability company into a Delaware corporation named IMH Financial
Corporation, and (ii) the acquisition by the Company of all of the
outstanding shares of the manager of the Fund Investors Mortgage
Holdings Inc., or the Manager, as well as all of the outstanding
membership interests of a related entity, IMH Holdings LLC, or
Holdings on June 18, 2010.

IMH Financial reported a net loss attributable to common
shareholders of $39.5 million in 2014, a net loss attributable to
common shareholders of $26.2 million in 2013 and a net loss
attributable to common shareholders of $32.2 million in 2012.

As of Sept. 30, 2015, the Company had $208.56 million in total
assets, $121.78 million in total liabilities, $29.04 million in
redeemable convertible preferred stock, and $57.73 million in total
stockholders' equity.


KATE SPADE: S&P Revises Outlook to Positive & Affirms 'B+' CCR
--------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised its rating
outlook on New York-based handbag, apparel, and accessory retailer
Kate Spade & Co. to positive from stable.  At the same time, S&P
affirmed its 'B+' corporate credit rating on the company.

S&P also affirmed its 'B+' issue-level rating on the company's
senior secured term loan due 2021.  The '3' recovery rating is
unchanged, indicating S&P's expectation for meaningful recovery
(50%-70%; upper half of the range) of principal in the event of a
payment default.

"The rating actions reflect Kate Spade's strong operating momentum
over the first nine months of 2015 and our expectation that this
growth will continue over the next 12 months, resulting in improved
credit metrics," said Standard & Poor's credit analyst Mathew
Christy.  Kate Spade's performance results have benefited from
expansion both domestically and internationally, with same-store
sales and new store growth across geographies.  The company has
expanded on its core strength in hand bags to become more of a
lifestyle brand with products in many merchandising categories. The
product expansion resulted from the development of in-house apparel
and accessory merchandise, as well as licensing deals that have
extended the brand into products such as home furnishings,
household goods, and other products.  S&P expects these trends to
continue and believe that the company's initiatives in e-commerce,
product availability, customer engagement, and marketing will help
drive continued growth.

"Our corporate credit rating on Kate Spade reflects the company's
relatively narrow product and geographic focus in the highly
competitive but expanding affordable luxury accessory and apparel
industry.  Following its divestiture of the Lucky Brands and Juicy
Couture brands in 2014 and the wind down of the Kate Spade Saturday
and Jack Spade brands earlier in 2015, we expect the company's
scale to remain good, though somewhat reduced, with estimated
annual revenue in excess of $1 billion.  Although the company will
rely more heavily on its key brand, Kate Spade, we believe the
well-known brand name still possesses good growth and profitability
potential, evidenced by the strong growth in comparable sales, new
store expansion in recent quarters, and the expansion of the brand
via licensing agreements," S&P said.

The positive rating outlook reflects Kate Spade's strong operating
momentum and meaningful same-store sales growth -- a trend S&P
expects to continue over the next several quarters.  S&P also
believes that continued profit growth will lead to an improvement
in the company's credit metrics over the next 12 months.

"We could revise the outlook to stable if the company's operating
momentum and comparable revenue growth trends slow considerably,
resulting in little improvement in credit metrics," said
Mr. Christy.  This could occur if Kate Spade's initiatives fail to
drive expected growth and a slowdown in the retail industry leads
to an increase in discounting for the company's retail and
wholesale operations.  Under this scenario, sales growth would slow
to a low- to mid-single-digit percent rate and EBITDA margins would
remain generally flat, resulting in adjusted leverage that remains
in the mid-4x area.

S&P could raise the rating if the company's strong positive
operating trends continue and S&P believes it can sustain FFO to
debt at or above 20% and adjusted leverage of 4x or below, which
would likely result in S&P's reassessment of the company's
financial risk profile.  This could occur if Kate Spade's
initiatives to enhance customer engagement and a further expansion
as a lifestyle brand leads to continued growth in comparable
revenue and further improvement in margins.  Under this scenario,
revenue would likely increase to more than $1.3 billion and
adjusted EBITDA margins would improve to more than 15%.



LANNETT CO: S&P Affirms 'B+' CCR, Outlook Stable
------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B+' corporate
credit rating on Philadelphia-based Lannett Co. Inc.  The outlook
is stable.

At the same time, S&P raised its issue-level rating on the
company's proposed senior secured credit facility to 'BB-' from
'B+'.  The credit facility consists of a $275 million senior
secured term loan A due 2020, $635 million senior secured term loan
B due 2022, and a $125 million revolving credit facility due 2020.
S&P revised the recovery rating on this debt to '2' from '3'.  The
'2' recovery rating reflects S&P's expectation of substantial (70%
to 90%, at the higher end of the range) recovery in the event of
payment default.

S&P also assigned a 'B-' issue-level rating to the company's
$250 million senior unsecured notes.  The recovery rating on this
debt is '6', reflecting S&P's expectation of negligible (0% to 10%)
recovery in the event of payment default.

"The rating affirmation reflects our assessment that the proposed
capital structure modification does not affect Lannett's financial
risk or liquidity profiles," said Standard & Poor's credit analyst
Maryna Kandrukhin.  S&P projects the company will generate over
$100 million in annual cash flow, sufficient to provide adequate
liquidity sources and cover accelerated debt amortization
payments.

In addition, the rating affirmation reflects S&P's assessment that
Lannett's financial and business risk profiles have not changed
after Kremers Urban lost a key customer.  While S&P expects the
contract loss to constrain revenue and EBITDA, its current
assessment of the company's financial risk profile already factors
in leverage volatility stemming from the lower-margin Kremers Urban
products, plus the potential for unsustainable price and volume
increases typically associated with generic pharmaceutical
products.

Lannett Co. Inc. is a small generic pharmaceutical manufacturer.
S&P's ratings reflect the company's relatively high business risk,
illustrated by a narrow portfolio and reliance on an outside party
for 25% of pro forma supply, along with significant integration
risk for a first-time acquisition of this magnitude.  These risks
are only partly offset by high margins, good cash flows, and
moderate leverage for the rating category.

S&P's stable outlook reflects its belief that Lannett will generate
mid-single-digit organic revenue growth and sustain leverage in the
3x to 4x range in fiscal 2016.  The outlook also reflects our
expectation that Lannett will generate at least
$100 million of free cash flow.

S&P could lower the rating if weaker-than-expected performance
results in leverage increasing to 5x or more over the next 12
months.  This would likely stem from issues integrating Kremers
Urban or from organic revenue declines, possibly from an inability
to increase prices or volumes of its existing products.  In order
for this to occur in fiscal 2016, revenues and gross margins would
have to decline by at least 10 percentage points.

"In our view, upside potential is limited over the next year and
linked to an improvement in business risk.  We could raise the
rating if Lannett obtains greater scale, apart from the scale that
we expect it will achieve with the Kremers Urban acquisition.  We
think it is unlikely that the company could achieve this while
maintaining current debt protection measures.  Separately, an
improvement in credit measures is unlikely to result in a higher
rating because we believe the company will need excess capacity to
make diversifying acquisitions or to absorb possible price and
volume fluctuations in its product portfolio," S&P said.



LANNETT COMPANY: Moody's Lowers CFR to B2, Outlook Stable
---------------------------------------------------------
Moody's Investors Service downgraded the Corporate Family Rating
and Probability of Default Rating of Lannett Company, Inc. to B2
and B2-PD from B1 and B1-PD, respectively.  Moody's also confirmed
the B1 rating on the senior secured revolver and Term Loan B.
Moody's assigned a B1 rating to the proposed Term Loan A and a Caa1
rating to the proposed $250 million unsecured notes offering.
Moody's also affirmed the Speculative Grade Liquidity Rating of
SGL-2.  The outlook is stable.  This concludes the rating review
initiated on Nov. 5, 2015.

The downgrade of the Corporate Family Rating incorporates Moody's
expectation for higher initial leverage than previously
anticipated.  This follows the disclosure that Kremers Urban ("KU",
which Lannett is in the process of acquiring) has lost a key
customer.  Revenues and EBITDA generated from sales of products to
the customer were material, at $87 million and
$45 million, respectively, for the 12 months ended June 30, 2015.
While Lannett may be able to offset a portion of the customer loss
through cost cuts, Moody's is concerned that significant reductions
to operating expenses could adversely impact the company's ability
to grow organically over the longer-term.  The downgrade also
reflects higher interest expense and mandatory debt amortization
than Moody's previously anticipated given the revised transaction
structure.  Reduced cash flow expectations stemming from the loss
of the KU customer, combined with higher debt service requirements
will reduce the company's liquidity and ability to absorb potential
operating setbacks in the future.

Despite the downgrade of the Corporate Family Rating, Moody's
confirmed the B1 rating on the senior secured credit facilities.
The confirmation reflects changes in the proposed capital
structure, which will now include $250 million of unsecured notes
which provide first loss cushion to the secured debt.

Issuer: Lannett Company, Inc.

Ratings Downgraded:

  Probability of Default Rating to B2-PD from B1-PD
  Corporate Family Rating to B2 from B1

Ratings Confirmed:

  Senior Secured Bank Credit Facility at B1 (LGD3 changed from
   LGD4)

Ratings Assigned:

  Senior Secured Term Loan A at B1 (LGD3)
  Senior unsecured notes at Caa1 (LGD6)

Ratings Affirmed:

  Speculative Grade Liquidity Rating at SGL-2

The outlook is changed to Stable from Rating Under Review

RATINGS RATIONALE

The B2 Corporate Family Rating reflects Lannett's modest size --
despite materially increasing its revenue with the KU acquisition
  -- in the rapidly consolidating generic drug industry.  The
rating is also constrained by Lannett's rapid growth over the past
several years which has been driven largely by opportunistic price
increases.  Moody's believes that, given significant recent
scrutiny on generic drug prices, these types of price increases
will be harder to achieve going forward.  In addition, large price
increases on generic products tend to draw more competitors into a
market, potentially making Lannett's very high profit margins
unsustainable.  The rating also reflects the company's revenue
concentration in a relatively limited number of drugs and Lannett's
limited experience in acquiring and integrating companies of
significant size.  The ratings are supported by Lannett's leverage
which -- despite the customer loss -- Moody's expects will be
moderate, with debt/EBITDA around 4.0x.  The ratings also
incorporate Moody's expectation that the company will generate
positive free cash flow.  The rating is also supported by Moody's
view that the company will use free cash flow to repay debt and
will not pursue other large acquisitions in the next 12 to 18
months, although some smaller ($200 million) deals are likely.

The stable outlook reflects Moody's view that the company's
relatively moderate financial leverage will allow it to absorb
potential operating set-backs that could occur as a result of new
competitive entrants on key products or disruption from integration
activities.

Moody's could upgrade the ratings if Lannett successfully
integrates KU and demonstrates the ability to generate sustained
organic growth through new product launches, while sustaining
adjusted debt to EBITDA below 4.0x.

Moody's could downgrade the ratings if the company's revenue or
profit margins deteriorate due to increased competition or other
challenges on key products.  Specifically if Moody's expects
adjusted debt to EBITDA to be sustained above 5.0x, ratings could
be downgraded.  Further, a weakening of liquidity, or rising legal
or regulatory risk could also lead to a downgrade.

The principal methodology used in these ratings was Global
Pharmaceutical Industry published in December 2012.

Lannett Company Inc, headquartered in Philadelphia, PA is a generic
drug manufacturer and distributor with capabilities in opioids and
other difficult-to-manufacture products.  Lannett is publicly
traded on the NYSE and reported revenues of $420 million for the
twelve months ended Sept. 30, 2015.


LIME ENERGY: Posts $1.47 Million Net Income for Third Quarter
-------------------------------------------------------------
Lime Energy Corp. filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing net income available
to common stockholders of $1.47 million on $32.16 million of
revenue for the three months ended Sept. 30, 2015, compared to a
net loss available to common stockholders of $430,000 on $15.58
million of revenue for the same period in 2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss available to common stockholders of $2.22 million on
$82.40 million of revenue compared to a net loss available to
common stockholders of $3.72 million on $41.45 million of revenue
for the same period a year ago.

As of Sept. 30, 2015, the Company had $59.85 million in total
assets, $42.50 million in total liabilities, $10.36 milion in
contingently redeemable series C preferred stock and $6.97 million
in total stockholders' equity.

"We are proud of the company that we have built and, with
consecutive quarters that demonstrate the improved performance that
we had targeted for 2015, we believe that we are moving in the
right direction," said Adam Procell, Lime Energy president & CEO.
"The utility industry is undergoing disruptive change, and energy
efficiency is poised to take its rightful place at the top of the
list of clean energy solutions.  We feel strongly that we have
selected the right areas of focus and we like our leadership
position in commercial building energy services.  We will continue
to innovate and build a company that will be relevant for the long
term."

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

                       http://is.gd/33Dzzm

                        About Lime Energy

Headquartered in Huntersville, North Carolina, Lime Energy Co. --
http://www.lime-energy.com/-- is engaged in planning and
delivering clean energy solutions that assist its clients in their
energy efficiency and renewable energy goals.  The Company's
solutions include energy efficient lighting upgrades, energy
efficient mechanical and electrical retrofit and upgrade services,
water conservation, building weatherization, on-site generation
and renewable energy project development and implementation.  The
Company provides energy solutions across a range of facilities,
from high-rise office buildings, distribution facilities,
manufacturing plants, retail sites, multi-tenant residential
buildings, mixed use complexes, hospitals, colleges and
universities, government sites to small, single tenant facilities.

Lime Energy reported a net loss available to common stockholders of
$5.6 million in 2014, a net loss available to common stockholders
of $18.5 million in 2013 and a net loss of $31.8 million in 2012.


LPATH INC: Incurs $2.22 Million Net Loss in Third Quarter
---------------------------------------------------------
LPath, Inc., filed with the Securities and Exchange Commission its
quarterly report on Form 10-Q disclosing a net loss of $2.22
million on $18,069 of grant and royalty revenue for the three
months ended Sept. 30, 2015, compared to a net loss of $3.16
million on $132,297 of grant and royalty revenue for the same
period in 2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $7.66 million on $45,033 of grant and royalty revenue
compared to a net loss of $10.19 million on $448,380 of grant and
royalty revenue for the same period last year.

As of Sept. 30, 2015, the Company had $14.30 million in total
assets, $2.12 million in total liabilities and $12.2 million in
total stockholders' equity.

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

                       http://is.gd/kSKRPQ

                           About LPath

San Diego, Calif.-based Lpath, Inc. is a biotechnology company
focused on the discovery and development of lipidomic-based
therapeutics, an emerging field of medical science whereby
bioactive lipids are targeted to treat human diseases.

LPath reported a net loss of $16.6 million in 2014, a net loss of
$6.56 million in 2013 and a net loss of $2.75 million in 2012.


MERITOR INC: S&P Revises Outlook to Positive & Affirms 'B+' CCR
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it has revised its
outlook on Troy, Mich.-based Meritor Inc. to positive from stable
and affirmed all of its ratings on the company, including S&P's
'B+' corporate credit rating.

"The outlook revision reflects that, despite some top-line
headwinds caused by potentially lower commercial vehicle demand in
some of the company's end markets and the negative translation
effects of the stronger U.S. dollar, Meritor has continued to
gradually improve its operating performance," said Standard &
Poor's credit analyst Robyn Shapiro.  "Through continued material
cost reductions, lower labor costs, and improved pricing, we
believe that Meritor will sustain or further improve its EBITDA
margins while maintaining positive FOCF during fiscal-year 2016."

The positive outlook on Meritor reflects that, despite some
top-line headwinds due to potentially lower commercial vehicle
demand in some of the company's end markets and negative currency
translation effects from the strong U.S. dollar, Meritor has
continued to gradually improve its operating performance and S&P
believes that it will sustain or further improve its EBITDA margins
while maintaining positive FOCF for fiscal-year 2016.

S&P could raise its rating on Meritor over the next 12 months if
the company's operating performance continues to strengthen,
despite its flat or slightly lower revenues in fiscal-year 2016,
(with EBITDA margins remaining above 9%) such that S&P revises its
assessment of its business.  For S&P to upgrade Meritor, S&P would
also expect the company to maintain an adjusted debt-to-EBITDA
metric in the 4x-5x range and a FOCF-to-debt ratio of 5%-10%.

Although less likely, S&P could lower its rating on Meritor during
the next 12 months if overall commercial truck and industrial
demand declines meaningfully, negatively affecting Meritor's
operating performance.  For example, S&P could downgrade the
company if its debt leverage increases above 5x or its FOCF-to-debt
ratio falls below 5% and S&P do not expect that it will improve in
the near term.  This could occur if Meritor's gross margins decline
below 14% in fiscal-year 2016.



METLCAST INDUSTRIES: Case Summary & 4 Top Unsecured Creditors
-------------------------------------------------------------
Debtor: Metlcast Industries LLC
        401 East Avenue B
        Salina, KS 67402-1637

Case No.: 15-41190

Nature of Business: Manufactures cast iron and related casting
                    metals

Chapter 11 Petition Date: November 20, 2015

Court: United States Bankruptcy Court
       District of Kansas (Topeka)

Judge: Hon. Janice Miller Karlin

Debtor's Counsel: Justice B. King, Esq.
                  FISHER, PATTERSON, SAYLER & SMITH, LLP
                  3550 S.W. Fifth Street
                  P. O. Box 949
                  Topeka, KS 66601-0949
                  Tel: (785) 232-7761
                  Fax: 785-232-6604
                  Email: jking@fisherpatterson.com

Total Assets: $4.67 million

Total Liabilities: $8.86 million

The petition was signed by Christopher B Stokes, managing member of
Vestar Enterprises, LLC, sole member of Metlcast Industries, LLC.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/ksb15-41190.pdf


METRO ROOFING: Case Summary & 17 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Metro Roofing, LLC
           dba A Southern Roofing Co.
           dba A Southern Roofing Company of Louisville
           dba A Southern Roofing Company of Kentucky
           dba A Southern Roofing of Louisville
           dba A Southern Roofing Company of Kentuckiana
        9612 Taylorsville Road, Suite 200
        Louisville, KY 40299-2758

Case No.: 15-33750

Chapter 11 Petition Date: November 20, 2015

Court: United States Bankruptcy Court
       Western District of Kentucky (Louisville)

Judge: Hon. Joan A. Lloyd

Debtor's Counsel: Michael Rollin Wilson, Esq.
                  WILSON & WILSON, ATTORNEYS AT LAW, PLLC
                  10355 Linn Station Rd.
                  Louisville, KY 40223
                  Tel: (502) 899-4725
                  Email: Michael.Rollin.Wilson@hotmail.com

Total Assets: $16,002

Total Liabilities: $1.07 million

The petition was signed by Hila G. Barker, president.

A list of the Debtor's 17 largest unsecured creditors is available
for free at http://bankrupt.com/misc/kywb15-33750.pdf


MF GLOBAL: Mediation Set for Disputes on Settlements
----------------------------------------------------
Stephanie Gleason, writing for Dow Jones' Daily Bankruptcy Review,
reported that creditors, investors and former officials of MF
Global will restart mediation in hopes of reaching a
multimillion-dollar settlement of litigation related to the
brokerage's collapse.

According to the report, the parties will meet today, Nov. 23, with
Magistrate Judge James C. Francis and are "as close as we've ever
been" to a broad settlement of litigation, a lawyer for MF Global
's estate told Judge Victor Marrero of the U.S. District Court in
Manhattan during a hearing on Nov. 20.

                           About MF Global

New York-based MF Global -- http://www.mfglobal.com/-- was one of  

the world's leading brokers of commodities and listed derivatives.
MF Global provides access to more than 70 exchanges around the
world.  The firm also was one of 22 primary dealers authorized to
trade U.S. government securities with the Federal Reserve Bank of
New York.  MF Global's roots go back nearly 230 years to a sugar
brokerage on the banks of the Thames River in London.

On Oct. 31, 2011, MF Global Holdings Ltd. and MF Global Finance
USA
Inc. filed voluntary Chapter 11 petitions (Bankr. S.D.N.Y. Case
Nos. 11-15059 and 11-5058), after a planned sale to Interactive
Brokers Group collapsed.  As of Sept. 30, 2011, MF Global had
$41,046,594,000 in total assets and $39,683,915,000 in total
liabilities.

On Nov. 7, 2011, the United States Trustee appointed the statutory
creditors' committee in the Debtors' cases.  At the behest of the
Statutory Creditor's Committee, the Court directed the U.S.
Trustee
to appoint a chapter 11 trustee.  On Nov. 28, 2011, the Bankruptcy
Court entered an order approving the appointment of Louis J.
Freeh,
Esq., of Freeh Group International Solutions, LLC, as Chapter 11
trustee.

On Dec. 19, 2011, MF Global Capital LLC, MF Global Market Services
LLC and MF Global FX Clear LLC filed voluntary Chapter 11
petitions
(Bankr. S.D.N.Y. Case Nos. 11-15808, 11-15809 and 11-15810).  On
Dec. 27, the Court entered an order installing Mr. Freeh as
Chapter
11 Trustee of the New Debtors.

On March 2, 2012, MF Global Holdings USA Inc. filed a voluntary
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 12-10863), and Mr.
Freeh also was installed as its Chapter 11 Trustee.

Judge Honorable Martin Glenn presides over the Chapter 11 case.
J.
Gregory Milmoe, Esq., Kenneth S. Ziman, Esq., and J. Eric Ivester,
Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, serve as
bankruptcy counsel.  The Garden City Group, Inc., serves as claims
and noticing agent.  The petition was signed by Bradley I. Abelow,
Executive Vice President and Chief Executive Officer of MF Global
Finance USA Inc.

The Chapter 11 Trustee has tapped (i) Freeh Sporkin & Sullivan
LLP,
as investigative counsel; (ii) FTI Consulting Inc., as
restructuring advisors; (iii) Morrison & Foerster LLP, as
bankruptcy counsel; and (iv) Pepper Hamilton as special counsel.
  
The Official Committee of Unsecured Creditors has retained
Capstone
Advisory Group LLC as financial advisor, while lawyers at
Proskauer
Rose LLP serve as counsel.

The Securities Investor Protection Corporation commenced
liquidation proceedings against MF Global Inc. to protect
customers.  James W. Giddens was appointed as trustee pursuant to
the Securities Investor Protection Act.  He is a partner at Hughes
Hubbard & Reed LLP in New York.

Jon Corzine, the former New Jersey governor and co-CEO of Goldman
Sachs Group Inc., stepped down as chairman and chief executive
officer of MF Global just days after the bankruptcy filing.

In April 2013, the Bankruptcy Court approved MF Global Holdings'
plan to liquidate its assets.  Bloomberg News reported that the
court-approved disclosure statement initially told creditors with
$1.134 billion in unsecured claims against the parent holding
company why they could expect a recovery of 13.4% to 39.1% from
the
plan.  As a consequence of a settlement with JPMorgan,
supplemental
materials informed unsecured creditors their recovery was reduced
to the range of 11.4% to 34.4%.  Bank lenders will have the same
recovery on their $1.174 billion claim against the holding
company.
As a consequence of the settlement, the predicted recovery became
18% to 41.5% for holders of $1.19 billion in unsecured claims
against the finance subsidiary, one of the companies under the
umbrella of the holding company trustee.  Previously, the
predicted
recovery was 14.7% to 34% on bank lenders' claims against the
finance subsidiary.


MIG LLC: Has Until Dec. 30 to File Ch. 11 Plan
----------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware extended MIG, LLC, and ITC Cellular, LLC's exclusive
period to file a Chapter 11 plan through and including Dec. 30,
2015, and their exclusive solicitation period through and including
Feb. 28, 2016.

According to Dennis A. Meloro, Esq., at Greenberg Traurig, LLP, in
Wilmington, Delaware, extension of the exclusive periods is needed
for the Debtors to resolve the issues presented in the adversary
proceeding they filed against Shenton Park Company, Inc., on
Aug. 19, 2015.

Mr. Meloro relates that in the Shenton Park Adversary Proceeding,
the Debtors seek to protect their estates and prevent Shenton Park
from taking actions to have a liquidator appointed over the
Debtors' sole equity holder, Caucuscom Ventures L.P., and enjoining
Shenton Park during the pendency of the Chapter 11 Cases from
proceeding with prosecution of and requiring them to take all
actions necessary to stay, adjourn, or otherwise withdraw the
Application for Winding Up and Appointment of Liquidator filed by
Shenton Park in the British Virgin Islands, Case Number BVIHCM
2015/0075, which apparently seeks the winding up and appointment of
a liquidator over Caucuscom.

MIG's ability to share in the governance of Magticom and to
continue to have the rights afforded to them under the PSA and
International Telcell LLC Agreement are critical to the Debtors'
reorganization efforts, Mr. Meloro tells the Court.  These rights
may be substantially impaired if Shenton Park is permitted to
proceed with the BVI Liquidator Action, Mr. Meloro says.

The parties to the Shenton Park Adversary Proceeding have agreed
on, and the Court has approved, a scheduling order, and discovery
and briefing is underway.  A hearing is scheduled before the Court
on December 3, 2015 to determine whether a "change of control"
has occurred and whether Shenton Park's BVI filing or appointment
of a liquidator for Caucuscom violates or would violate the
automatic stay or should be enjoined.

Resolution of the issues presented in the Shenton Park Adversary
Proceeding is critical to determining the Debtors' path forward in
these Chapter 11 Cases, Mr. Meloro asserts.  In addition, the
pleadings that have been filed and will be filed by the Debtors and
the Indenture Trustee in the Shenton Park Adversary Proceeding,
detail the steps that the Debtors have taken and continue to take
in these Chapter 11 Cases to stabilize their relationship with
their joint venture partner and to work with their primary
constituencies -- the Indenture Trustee and the holders of the
Notes -- to find a consensual path to resolution of these Chapter
11 Cases.

                          About MIG LLC

Formerly operating under the name "Metromedia International Group,
Inc.," MIG LLC -- http://www.migllc-group.com/-- owned and       
operated and sold dozens of companies in diverse industries,
including entertainment, photo finishing, garden equipment and
sporting goods, until the late 1990s.  In 1997 and 1998, MIG
consummated the sale of substantially all of its U.S.-based
entertainment assets and began focusing on expanding into emerging
communications and media businesses.  By 2005, all of MIG's
operating businesses were located in the Republic of Georgia and
operated through its subsidiaries.

MIG LLC and affiliate ITC Cellular, LLC, filed for Chapter 11
bankruptcy protection on June 30, 2014.  The cases are currently
jointly administered under Bankr. D. Del. Lead Case No. 14-11605.
As of the bankruptcy filing, MIG's sole valuable asset, beyond its
existing cash, is its indirect interest in Magticom Ltd.  The
cases
are assigned to Judge Kevin Gross.  MIG LLC disclosed $15.9
million
in assets and $254 million in liabilities.

Headquartered in Tbilisi, Georgia, Magticom is the leading mobile
telephony operator in Georgia and is also the largest telephone
operator in Georgia.  Magticom serves 2.4 million subscribers with
a network that covers 97% of the populated regions in Georgia.
Magticom is owned by International Telcell Cellular, LLC, which is
46% owned by MIG unit ITC Cellular, 51% owned by Dr. George
Jokhtaberidze, and 3% owned by Gemstone Management Ltd.

Formerly known as MIG, Inc., MIG was a debtor in a previous case
(Bankr. D. Del. Case NO. 09-12118). It obtained approval of its
reorganization plan in November 2010.

The Debtors have tapped Greenberg Traurig LLP as counsel, Fox
Rothschild Inc. as financial advisor; Cousins Chipman and Brown,
LLP as conflicts counsel; and Prime Clerk LLC as claims and notice
agent and administrative advisor.  The Debtors have retained
Natalia Alexeeva as chief restructuring officer.

A three-member panel has been appointed in these cases to serve as
the official committee of unsecured creditors, consisting of
Walter M. Grant, Paul N. Kiel, and Lawrence P. Klamon.


MILESTONE SCIENTIFIC: Incurs $1.6 Million Net Loss in 3rd Quarter
-----------------------------------------------------------------
Milestone Scientific Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.57 million on $2.45 million of net product sales for the
three months ended Sept. 30, 2015, compared to a net loss of
$358,000 on $2.53 million of net product sales for the same period
last year.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $4.12 million on $6.99 million of net product sales
compared to a net loss of $333,000 on $7.66 million of net product
sales for the same period in 2014.

As of Sept. 30, 2015, the Company had $14.06 million in total
assets, $2.13 million in total liabilities, all current and $11.9
million in total equity.

As of Sept. 30, 2015, Milestone Scientific had cash and cash
equivalents of $4.39 million and positive working capital of $11.1
million.

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

                       http://is.gd/UmHRgZ

                    About Milestone Scientific

Livingston, N.J.-based Milestone Scientific Inc. is engaged in
pioneering proprietary, innovative, computer-controlled injection
technologies and solutions for the medical and dental markets.

The Company reported a net loss attributable to the Company of $1.7
million on $10.33 million of net product sales for the year ended
Dec. 31, 2014, compared to net income attributable to the Company
of $1.46 million on $10.01 million of net product sales for the
year ended Dec. 31, 2013.


MISSION NEW ENERGY: Posts $28.3 Million Profit for Fiscal 2015
--------------------------------------------------------------
Mission NewEnergy Limited filed with the Securities and Exchange
Commission its annual report on Form 20-F disclosing profit of
$28.4 million on $7.27 million of total revenue for the year ended
June 30, 2015, compared to a loss of $1.09 million on $9.68 million
of total revenue for the year ended June 30, 2014.

As of June 30, 2015, the Company had $12.6 million in total assets,
$5.85 million in total liabilities and $6.76 million in total
equity.

The Company said in the Annual Report it may not be able to
continue as a going concern.

"Although we incurred an operating profit for the year ended June
30, 2015 of A$28.3 million (2014: A$1.1 million loss), we have a
history of net losses and there is a substantial doubt about our
ability to continue as a going concern.  The current year's profit
is primarily as a result of a reversal of a previous impairment of
a refinery to a value of A$27.6 million upon the sale of our
250,000 tpa refinery.  Net cash generated by operating activities
was A$0.39 million (2014: A$2.9 million used in operating
activities).  At balance date, the current assets less current
liabilities were A$3.0 million (2014: A$3.7million) and the net
assets were A$6.8 million (2014: A$11.4 million deficit).  The
previous year asset deficiency is primarily due to the previous
impairment of our refinery assets and the convertible note that was
due and payable in December 2018, which was paid off with proceeds
from the sale of the refinery."

A full-text copy of the Form 20-F is available for free at:

                       http://is.gd/XQkOTm

                     About Mission NewEnergy

Based in Subiaco, Western Australia, Mission NewEnergy Limited is
a producer of biodiesel that integrates sustainable biodiesel
feedstock cultivation, biodiesel production and wholesale
biodiesel distribution focused on the government mandated markets
of the United States and Europe.

The Company is not operating its biodiesel refining segment.  The
refineries are being held in care and maintenance either awaiting
a return to positive operating conditions or the sale of assets.

The Company has materially diminished its Jatropha contract
farming operation and the company is now focused on divesting the
remaining Indian assets.  The Company intends to cease all Indian
operations.


MOTORS LIQUIDATION: Has $613-Mil. Net Assets in Liquidation
-----------------------------------------------------------
Motors Liquidation Company GUC Trust filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
total assets of $806 million, total liabilities of $192.43 million
and net assets in liquidation of $613 million.

The GUC Trust's sources of liquidity are principally the funds it
holds for the payment of liquidation and administrative costs, and
to a significantly lesser degree, the earnings on such funds
invested by it.  In addition, as a result of the liquidation of all
the GUC Trust's holdings of New GM Securities during the quarter
ended Sept. 30, 2015, the GUC Trust holds Distributable Cash for
distribution to GUC Trust beneficiaries.  The GUC Trust holds such
funds as cash and cash equivalents and also invests such funds in
marketable securities, primarily U.S. Treasury bills, as permitted
by the Plan and the GUC Trust Agreement.

During the six months ended Sept. 30, 2015, the GUC Trust's
holdings of cash and cash equivalents increased approximately $3.9
million from approximately $37.5 million to approximately $41.4
million.  The increase was due primarily to the proceeds from the
liquidation of all the GUC Trust's holdings of New GM Securities
during the quarter that were largely subsequently invested in
marketable securities.  Additionally, cash dividends on holdings of
New GM Common Stock of $4.1 million were received.  Such increases
were offset in part by cash paid for liquidation and administrative
costs of $7.4 million and cash paid for Residual Wind-Down Claims
of $3.4 million.

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

                       http://is.gd/MuycIe

                     About Motors Liquidation

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

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

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

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


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 its 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 loans.  The '2' recovery rating on the loans 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 its
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.



NATIONAL HOCKEY: Wins Partial Summary Judgment in Suit vs. Moyes
----------------------------------------------------------------
In an Order dated November 12, 2015, which is available at
http://is.gd/8TAqJtfrom Leagle.com, Judge G. Murray Snow of the
United States District Court for the District of Arizona accepted
in part and rejected in part the Report and Recommendation of the
United States Bankruptcy Judge Redfield T. Baum, which recommends
that Jerry Moyes, et al.'s Cross Motions for Summary and Partial
Summary Judgment be granted in part and denied in part and that
National Hockey League's Motion be denied.

The case is National Hockey League, Plaintiff, v. Jerry Moyes, et
al., Defendants, NO. CV-10-01036-PHX-GMS (D. Ariz.).

National Hockey League, Plaintiff, is represented by Bradley I
Ruskin, Esq. -- bruskin@proskauer.com -- Proskauer Rose LLP, David
Steve Mordkoff, Esq. -- dmordkoff@proskauer.com -- Proskauer Rose
LLP, Scott Arthur Eggers, Esq. -- seggers@proskauer.com --
Proskauer Rose LLP, Alan A Meda, Esq. -- ameda@bcattorneys.com --
Burch & Cracchiolo PA & Martin J Bienenstock, Esq. --
mbienenstock@proskauer.com -- Proskauer LLP.

Defendants are represented by Stephen D Susman, Esq. --
ssusman@susmangodfrey.com -- Susman Godfrey LLP, Teresa Marie
Pilatowicz, Esq. -- Gordon Silver, Thomas J Salerno, Esq. -- Squire
Sanders (US) LLP, Cynthia Christine Albracht-Crogan, Esq. --
ccrogan@ckdqlaw.com -- Cohen Kennedy Dowd & Quigley PC, John Neil
Stuart, Esq. -- jstuart@ckdqlaw.com -- Cohen Kennedy Dowd & Quigley
PC, Kalpana Srinivasan, Esq. -- ksrinivasan@susmangodfrey.com --
Susman Godfrey LLP, Laura Hartigan Kennedy, Esq. --
lkennedy@ckdqlaw.com -- Cohen Kennedy Dowd & Quigley PC, Oleg
Elkhunovich, Esq. -- oelkhunovich@susmangodfrey.com -- Susman
Godfrey LLP, Ronald Jay Cohen, Esq. -- rcohen@ckdqlaw.com -- Cohen
Kennedy Dowd & Quigley PC & Shawn J Rabin, Esq. --
srabin@susmangodfrey.com -- Susman Godfrey LLP.


NEPHROS INC: Reports 2015 Third Quarter Financial Results
---------------------------------------------------------
Nephros, Inc., announced financial results for the three and nine
months ended Sept. 30, 2015.

"Our primary focus in the near term continues to be growth of our
ultrafilter business," said Daron Evans, president and chief
executive officer of Nephros.  "Following significant progress in
the first half the year, our hospital filter sales for the third
quarter were adversely impacted by a distributor pause while we
responded to the FDA warning letter we received at the end of May.
The related issues have been resolved, and we expect the sales
momentum to begin recovering in the fourth quarter and into the
first quarter of 2016.  We have added key personnel to the Nephros
team and believe that we are well positioned to become a cash flow
positive company in 2016."

"In the hospital infection control market, our distribution
partners have placed our FDA-cleared ultrafilters into over 80 new
hospitals this year.  The pace of placements has been increasing as
our partners become more knowledgeable about our products as a
component of a multi-barrier approach to water safety, as
prescribed by ASHRAE 188-2015.  We recently announced that we are
seeking FDA clearance for our S100 Point of Use filter.  Subject to
FDA clearance, we believe the S100 will add an emergency response
solution to our portfolio for outbreaks of Legionella, Pseudomonas
and other water borne pathogens."

"In the dialysis ultrafiltration market, we launched the Nephros
Challenge near the end of the third quarter with the goal of
increasing awareness of the importance of water quality in dialysis
and of the contribution of Nephros ultrafilters to meeting
objectives.  Additionally, we plan to add an endotoxin filter
product line in 2016 to expand our dialysis offering.  The early
response to the Challenge has been positive; however, we do not
expect the initiative to materially add to revenue within 2015
because of the long sales cycle in dialysis."

"In addition to the hospital and dialysis markets for ultrafilters,
we have been working with distributors and potential customers to
evaluate the performance of our products in other market segments.
In 2016, we intend to target two or more additional market segments
where our ultrafilters can provide an economically and functionally
attractive solution."

"In HDF, we continue to work with the Renal Research Institute to
learn how to optimally integrate our system into dialysis
operations.  We have initiated our OLpur H2H 2.0 project and expect
to refine timelines for the project over the coming months."

Tender Offer Update

As announced on Sept. 30, 2015, Lambda Investors LLC exercised its
outstanding Class D Warrant.  Nephros received approximately $1.76
million from such exercise and has eliminated the Class D Warrant
liability from its balance sheet.  The Company intends to initiate
tender offers to the holders of all of its remaining warrants
pursuant to which it will offer such holders the right to exercise
their respective warrants at a 50% discount to their current
exercise prices, which range from $0.40 to $0.85 per share.  The
Company plans to initiate the tender offer to the holders of its
2011 Warrants this month, and plans to initiate the tender offer to
the holders of its 2015 Warrants at a later date.

Financial Performance for the Third Quarter Ended September 30,
2015

Total revenue for the quarter ended Sept. 30, 2015, was
approximately $320,000 compared to approximately $491,000 for the
third quarter of 2014.  Product revenue decreased by approximately
$24,000 primarily due to decreases in the dialysis filter market
that were offset by increases in the hospital filter market.
License and royalty revenue decreased by approximately $147,000
primarily due to a change in the amortization of the Bellco license
fee in 2015 versus the third quarter in 2014 after entering into
the First Amendment to the Bellco License Agreement. Total
operating expenses for the quarter ended Sept. 30, 2015, were
approximately $1,253,000 compared to approximately $997,000 for the
third quarter of 2014.  Increases came from additional sales and
marketing expenses, increased regulatory expenses related to our
response to the May 2015 FDA warning letter, increased product
development expenses, and additional personnel. The loss from
operations for the quarter ended Sept. 30, 2015, was approximately
$1,087,000, compared to a loss from operations of approximately
$681,000 in the third quarter 2014.  As of Sept. 30, 2015, Nephros
had cash and cash equivalents of approximately $1,813,000.

A full-text copy of the press release is available at:

                       http://is.gd/OJFJpZ

                          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.

As of June 30, 2015, the Company had $3.4 million in total assets,
$9.3 million in total liabilities and a stockholders' deficit of
$5.9 million.

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: 8 Affiliates' Chapter 11 Case Summary
--------------------------------------------------------
Affiliates of New Dawn Assisted Living Operating Company, LLC No.
24 filing separate Chapter 11 bankruptcy petitions:

   Debtor                                          Case No.
   ------                                          --------
   10700 Three Chopt Road, LLC                     15-14868
   10601 Barbara Lane
   Henrico, VA 23233

   1807 Jamestown Road, LLC                        15-14869
   1807 Jamestown Road
   Williamsburg, VA 23185

   New Dawn of Colorado Springs, LLC               15-14870

   New Dawn Assisted Living Real Estate            15-14872
   Company, LLC No. 2
   7235 Limon Drive
   Ft. Collins, CO 82525

   New Dawn Assisted Living Operating              15-14874
   Company, LLC No. 5
   12820 W. Beardsley
   Sun City West, AZ 85375

   New Dawn Assisted Living Real Estate            15-14875
   Company, LLC No. 5
   12820 W. Beardsley
   Sun City West, AZ 85375

   New Dawn Assisted Living Operating              15-14878
   Company, LLC No. 6
   4145 Briargate Parkway
   Colorado Springs, CO 80920

   New Dawn Assisted Living Operating              15-14880
   Company, LLC No. 2
   7235 Limon Drive
   Ft. Collins, Co 82525

Type of Business: Health Care

Chapter 11 Petition Date: November 20, 2015

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

Judge: Hon. Eddward P. Ballinger Jr. (15-14868)
       Hon. Paul Sala (15-14869 and 15-14880)
       Hon. Brenda K. Martin (15-14872 and 15-14878)
       Hon. Daniel P. Collins (15-14874)
       Hon. Scott H. Gan (15-14875)

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

Estimated Assets: $10 million to $50 million

Estimated Debts: $1 million to $10 million

The petition was signed by Dennis R. Haydon, manager, 10700 Three
Chopt Road, LLC.

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


NNN MET CENTER: Reports $23.5MM Secured Claim Against Property
--------------------------------------------------------------
NNN Met Center 15 39 LLC filed with the U.S. Bankruptcy Court for
the Northern District of California an amended schedule A - real
property to disclose that it owns an undivided 2.500% interest as
Tenant-in-Common in commercial real property commonly known as Met
Center 15, 7301 Metro Center Dr., Austin, Texas 78744.  

The Debtor said the current value of its fee simple interest as TIC
in the property is $28,630,000.  The Current Value is per the most
recent Apprasial Report, as is, as of Dec. 11, 2014.  The Debtor
believes the Current Value to be higher, and a new Appraisal Report
has been ordered.

The Debtor also said there's a secured claim against its Interest
in the property.  The amount of the secured claim is $23,538,261.

A full-text copy of the amended schedule is available for free at
http://is.gd/BbMhiE

                           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.



NO PLACE LIKE HOME: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: No Place Like Home, Inc.
        354 New Byhalia Road
        Collierville, TN 38017

Case No.: 15-31133

Chapter 11 Petition Date: November 20, 2015

Court: United States Bankruptcy Court
       Western District of Tennessee (Memphis)

Judge: Hon. David S. Kennedy

Debtor's Counsel: E. Franklin Childress, Jr., Esq.
                  BAKER, DONELSON, BEARMAN, CALDWELL &
                  BERKOWITZ, PC
                  165 Madison Avenue, Suite 2000
                  Memphis, TN 38103
                  Tel: (901) 577-2147
                  Fax: (901) 577-0845
                  Email: fchildress@bakerdonelson.com

                    - and -

                  M. Ruthie Hagan, Esq.
                  BAKER, DONELSON, BEARMAN, CALDWELL &
                  BERKOWITZ, PC
                  165 Madison Avenue, Suite 2000
                  Memphis, TN 38103
                  Tel: 901-577-8214
                  Fax: 901.577.0863
                  Email: rhagan@bakerdonelson.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by John Flood, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/tnwb15-31133.pdf


OLGA'S KITCHEN: Team Schostak & Cosmo Hospitality Vying for Assets
------------------------------------------------------------------
Olga's Kitchen Inc. has received two competing bidders for the
Company and its 27 locations, JC Reindl and Brent Snavely at
Detroit Free Press report.

According to Free Press, Team Schostak Family Restaurants and Cosmo
Hospitality are vying to win the Company in a bankruptcy court's
auction.  The report says that the leading bid so far is Cosmo's
$8.55 million offer.

Olga's Kitchen Inc. is headquartered in Troy, Michigan, and is best
known for its Mediterranean-inspired pita wraps, curly fries and
quirky offerings, such as an orange creme cooler.

The Company filed for Chapter 11 bankruptcy protection (Bankr. E.D.
Mich. Case No. 15-49008) on June 11, 2015, estimating its assets
and liabilities at between $1 million and $10 million each.  The
petition was signed by Robert Solomon, principal.

Judge Walter Shapero presides over the case.

Robert N. Bassel, Esq., at Robert Bassel, Attorney, serves as the
Company's bankruptcy counsel.


OW BUNKER: NuStar Wants Cases Converted to Ch. 7
------------------------------------------------
NuStar Energy Services, Inc., NuStar Supply & Trading LLC, and
NuStar Terminals Marine Services N.V., request that the U.S.
Bankruptcy Court for the District of Connecticut, Bridgeport
Division, convert the Chapter 11 cases of O.W. Bunker Holding North
America, Inc., et al., to cases under Chapter 7 of the Bankruptcy
Code.

NuStar asserts that the bankruptcy cases should be converted to
cases under Chapter 7 as the Debtors have no operating business.
Almost a year has passed since the November 13, 2014 Chapter 11
filings, professional expenses exceed $5.0 million, and two
employees of the Debtors are still being paid, NuStar points out.
The Debtors have engaged in wasteful venue litigation while failing
to prosecute critical lien avoidance claims, NuStar further
asserts.

NuStar further points out that one of the Debtor reports only
$21,281 in unrestricted cash and has approximately $10 million in
disputed administrative claims, while another Debtor reports only
$1,192,990 in unrestricted cash and has approximately $11 million
in disputed administrative claims.  Settlement negotiations have
proven unsuccessful and no plan is confirmable, NuStar tells the
Court.

NuStar is represented by:

         Eric Henzy, Esq.
         REID AND RIEGE, P.C.
         One Financial Plaza, 21st Floor
         Hartford, CT 06103
         Telephone: (860) 240-1081
         Telecopier: (860) 240-1002
         Email: ehenzy@rrlawpc.com

            -- and --

         Michael M. Parker
         Steve A. Peirce
         NORTON ROSE FULBRIGHT US LLP
         300 Convent Street, Suite 2100
         San Antonio, Texas 78205
         Telephone: (210) 224-5575
         Facsimile: (210) 270-7205
         Email: michael.parker@nortonrosefulbright.com
                steve.peirce@nortonrosefulbright.com

                    About O.W. Bunker

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

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

The U.S. cases are assigned to Judge Alan H.W. Shiff.  The U.S.
Debtors have tapped Patrick M. Birney, Esq., and Michael R.
Enright, Esq., at Robinson & Cole LLP, as counsel.   McCracken,
Walker & Rhoads LLP is serving as co-counsel.  Alvarez & Marsal is
the financial advisor.ne fuel (bunker) company founded in
Denmark.  The company declared bankruptcy on Nov. 7, 2014,
following its admission that it had lost US$275 million through a
combination of fraud committed by senior executives at its
Singaporean unit.

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

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


PATRIOT COAL: Peabody Wrangle Over Choice of Benefit Battlefield
----------------------------------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review,
reported that Peabody Energy Corp. says it is entitled to make its
case in St. Louis for shaking off a pledge to guarantee funding of
retiree benefits for former workers of Patriot Coal Corp ., which
wrapped up its affairs in a Virginia bankruptcy court.

According to the report, the tug-of-war over venue is the latest
development in a running fight between Patriot and its former
parent, Peabody, over a settlement that was part of Patriot's 2012
bankruptcy case, which was conducted mostly in St. Louis.

                        About Patriot Coal

Patriot Coal Corporation is a producer and marketer of coal in the
United States.  Patriot and its subsidiaries control 1.4 billion
tons of proven and probable coal reserves -- including owned and
leased assets in the Central Appalachia basin (in West Virginia
and Ohio) and Southern Illinois basin (in Kentucky and Illinois)
and their operations consist of eight active mining complexes in
West Virginia.

Patriot Coal first sought Chapter 11 protection on July 9, 2012,
and, on Dec. 18, 2013, won approval of its bankruptcy-exit plan
from the U.S. Bankruptcy Court for the Eastern District of
Missouri.  The plan turned over most of the ownership of the
company to bondholders that include New York hedge fund Knighthead
Capital Management LLC.  The linchpins of the plan were a global
settlement among the Debtors, the United Mine Workers of America,
and two third parties -- Peabody Energy Corporation and Arch Coal,
Inc. -- and a commitment by a consortium of creditors, led by
Knighthead, to backstop two rights offerings that funded the plan.

Patriot Coal Corporation and its subsidiaries commenced new
Chapter 11 cases (Bankr. E.D. Va. Lead Case No. 15-32450) in
Richmond, Virginia, on May 12, 2015.  The cases are assigned to
Judge Keith L. Phillips.

Patriot Coal estimated more than $1 billion in assets and debt.

The Debtors tapped Kirkland & Ellis LLP as counsel; Kutak Rock
L.L.P., as co-counsel; Centerview Partners LLC as investment
bankers; Alvarez & Marsal North America, LLC, as restructuring
advisors; and Prime Clerk LLC, as claims and administrative agent.

The U.S. trustee overseeing the Chapter 11 case of Patriot Coal
Corp. appointed seven creditors of the company to serve on the
official committee of unsecured creditors.  The Committee is
represented by Morrison & Foerster LLP as its counsel, and
Tavenner & Beran, PLC, as its local counsel.  Jefferies LLC
serves as its investment banker.

                        *     *     *

The Debtors on Oct. 9, 2015, won confirmation of their Chapter 11
Plan.  On Oct. 26, 2015, the effective date of the Plan occurred.
The Plan contemplates the sale of most of the assets to Blackhawk
Mining LLC and the remaining assets to Virginia Conservation
Legacy
Fund.  The Debtors named Eugene I. Davis as the liquidating
trustee.


PHOENIX COYOTES: Court Says Ex-Owner Can Pay Fees from Bankruptcy
-----------------------------------------------------------------
Jeff Zalesin at Bankruptcy Law360 reported that former Phoenix
Coyotes owner Jerry Moyes owes the NHL attorneys' fees and other
damages stemming from the team's bankruptcy, although the league
cannot demand repayment of operating losses it suffered after
buying the Coyotes out of bankruptcy, an Arizona federal judge
ruled on Nov. 12, 2015.

U.S. District Judge G. Murray Snow said the NHL can recover some of
its attorneys' fees, debts the Coyotes once owed to unsecured
creditors, and amounts owed to former Coyotes coach and hockey
legend Wayne Gretzky.

                    About the Phoenix Coyotes

The Phoenix Coyotes -- http://www.PhoenixCoyotes.com-- are one of

30 teams that play in the National Hockey League.  The Coyotes are
based in Glendale, Arizona and play their home games at Jobing.com
Arena.  The Coyotes have qualified for the playoffs for the past
three years and in 2011-12, the team won the Pacific Division
title and reached the Western Conference Final for the first time
in franchise history. On the ice, the Coyotes are led by Captain
Shane Doan, goaltender Mike Smith and standout defensemen Keith
Yandle and Oliver Ekman-Larsson. Off the ice, the club is a model
of consistency under the guidance of President & COO Mike Nealy,
General Manager Don Maloney (2009-10 GM of the Year), and Head
Coach Dave Tippett (2009-10 Jack Adams Award winner as the NHL's
top coach).

                        About Coyotes Hockey

Dewey Ranch Hockey LLC, Arena Management Group, LLC, Coyotes
Holdings, LLC, and Coyotes Hockey, LLC -- owners and affiliates of
the Phoenix Coyotes team of the National Hockey League -- filed
for Chapter 11 protection (Bankr. D. Ariz. Case No. 09-09488) on
May 5, 2009.  The Debtors were represented by Squire, Sanders &
Dempsey, LLP, in Phoenix, and estimated their assets and debts to
be between $100 million and $500 million.

In the third quarter of 2009, Judge Redfield T. Baum approved the
sale of the Phoenix Coyotes to the National Hockey League, which
acquired the team to quash a plan by Research-In-Motion founder
Jim Balsillie to move the team to Ontario, Canada.  Coyotes Hockey
was sent to Chapter 11 to effectuate a sale by owner Jerry Moyes
to Mr. Balsillie.  The NHL acquired the team for $140 million in
October 2009 and said it wants to sell the team for $170 million.

The city of Glendale, Arizona, owns Jobing.com Arena, where the
team plays.

In September 2010, the Bankruptcy Court rejected a motion to
impose a trustee or convert the case to a Chapter 7 liquidation.


PHYSICAL PROPERTY: Incurs HK$186,000 Net Loss in Third Quarter
--------------------------------------------------------------
Physical Property Holdings Inc. filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss and total comprehensive loss of HK$186,000 on HK$254,000
of total operating revenues for the three months ended Sept. 30,
2015, compared to a net loss and total comprehensive loss of
HK$169,000 on HK$265,000 of total operating revenues for the same
period during the prior year.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss and total comprehensive loss of HK$556,000 on HK$776,000
of total operating revenues compared to a net loss and total
comprehensive loss of HK$598,000 on HK$785,000 of total operating
revenues for the same period a year ago.

As of Sept. 30, 2015, the Company had HK$9.31 million in total
assets, HK$12.20 million in total liabilities, all current, and a
HK$2.88 million total stockholders' deficit.

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

                      http://is.gd/bGzPP0

                Physical Property Holdings Inc.

Physical Property Holdings Inc., incorporated on Sept. 21, 1988, is
engaged in the real estate business.  The Company is involved in
buying, investing in, and selling, renovating and renting real
estate, exclusively in the Hong Kong Special Administrative Region
(SAR) of the People's Republic of China.  The Company holds around
five residential apartments in Hong Kong. The Company's
subsidiaries include Ableforce International Limited and its wholly
owned subsidiary Good Partner Limited.

Physical Property disclosed a net loss and comprehensive loss of
HK$820,000 on HK$1.05 million of rental revenue for the year ended
Dec. 31, 2014, compared with a net loss and comprehensive loss of
HK$459,000 on HK$1.05 million of rental revenue for the year ended
Dec. 31, 2013.

Mazars CPA Limited, in Hong Kong, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company had a negative working
capital as of Dec. 31, 2014, and incurred loss for the year then
ended, which raised substantial doubt about its ability to continue
as a going concern.


PLASTIC2OIL INC: Posts $850,000 Net Loss for Third Quarter
----------------------------------------------------------
Plastic2Oil, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $849,918 on $0 of total sales for the three months ended
Sept. 30, 2015, compared to a net loss of $1.41 million on $42,641
of total sales for the same period in 2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $2.94 million on $10,397 of total sales compared to a
net loss of $4.18 million on $67,714 million of total sales for the
same period during the prior year.

As of Sept. 30, 2015, the Company had $6.37 million in total
assets, $9.97 million in total liabilities and a $3.59 million
total stockholders' deficit.

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

                       http://is.gd/ZgB178

                         About Plastic2Oil

Plastic2Oil, Inc., formerly JBI Inc., is a North American fuel
company that transforms unsorted, unwashed waste plastic into
ultra-clean, ultra-low sulphur fuel without the need for
refinement.  The Company's Plastic2Oil (P2O) is a process designed
to provide immediate economic benefit for industry, communities
and government organizations with waste plastic recycling
challenges.  It is also focused on the creation of green
employment opportunities and a reduction in the cost of plastic
recycling programs for municipalities and business.  The Company's
fuel products include No. 6 Fuel, No. 2 Fuel (diesel, petroleum
distillate), Naphtha, Petcoke (carbon black) and Off-Gases. No. 6
Fuel is heavy fuel used in industrial boilers and ships. No. 2
Fuel is a mid-range fuel known as furnace oil or diesel.  Naphtha
is a light fuel that is used as a cut feedstock for ethanol or as
white gasoline in high and regular grade road certified fuels.

Plastic2Oil reported a net loss attributable to common shareholders
of $8.51 million on $59,000 of sales for the year ended Dec. 31,
2014, compared to a net loss attributable to common shareholders of
$16.8 million on $693,000 of sales for the year ended Dec. 31,
2013.

MNP LLP, in Toronto, Canada, issued a "going concern" qualification
on the consolidated financial statements for the year ended Dec.
31, 2014, citing that the Company has experienced negative cash
flows from operations since inception and has accumulated a
significant deficit which raises substantial doubt about its
ability to continue as a going concern.


PORTER BANCORP: Files Third Quarter Form 10-Q
---------------------------------------------
Porter Bancorp, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common shareholders of $1.03 million on $9.17
million of interest income for the three months ended Sept. 30,
2015, compared to a net loss attributable to common shareholders of
$1.47 million on $9.81 million of interest income for the same
period in 2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss attributable to common shareholders of $2.27 million on
$27.54 million of interest income compared to a net loss
attributable to common shareholders of $8.80 million on $29.87
million of interest income for the same period last year.

As of Sept. 30, 2015, the Company had $951.48 million in total
assets, $917.67 million in total liabilities and $33.80 million in
total stockholders' equity.

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

                      http://is.gd/bJYiGg

                      About Porter Bancorp

Porter Bancorp, Inc., is a bank holding company headquartered in
Louisville, Kentucky.  Through its wholly-owned subsidiary PBI
Bank, the Company operates 18 full-service banking offices in
12 counties in Kentucky.

Porter Bancorp reported a net loss of $11.2 million in 2014, a net
loss of $1.58 million in 2013 and a net loss of $32.93 million in
2012.

Crowe Horwath, LLP, in  Louisville, Kentucky, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has incurred
substantial losses in 2014, 2013 and 2012, largely as a result of
asset impairments resulting from the re-evaluation of fair value
and ongoing operating expenses related to the high volume of other
real estate owned and non-performing loans.  In addition, the
Company's bank subsidiary is not in compliance with a regulatory
enforcement order issued by its primary federal regulator
requiring, among other things, increased minimum regulatory capital
ratios as well as being involved in various legal proceedings in
which the Company disputes material factual allegations against the
Company.  Additional losses, adverse outcomes from legal
proceedings or the continued inability to comply with the
regulatory enforcement order may result in additional adverse
regulatory action.  These events raise substantial doubt about the
Company's ability to continue as a going concern, the auditors
said.


POSITIVEID CORP: Incurs $125,000 Net Loss in Third Quarter
----------------------------------------------------------
PositiveID Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common stockholders of $125,000 on $2.50 million of
revenue for the three months ended Sept. 30, 2015, compared to a
net loss attributable to common stockholders of $1.61 million on
$325,000 of revenue for the same period in 2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss attributable to common stockholders of $6.96 million on
$2.68 million of revenue compared to a net loss attributable to
common stockholders of $5.53 million on $745,000 of revenue for the
same period a year ago.

As of Sept. 30, 2015, the Company had $1.04 million in total
assets, $10.86 million in total liabilities and a $9.82 million
total stockholders' deficit.

As of Sept. 30, 2015, cash and cash equivalents totaled $319,000
compared to cash and cash equivalents of $145,000 at Dec. 31,
2014.

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

                      http://is.gd/3bmbGB

                       About PositiveID

Delray Beach, Fla.-based PositiveID Corporation has historically
developed, marketed and sold RFID systems used for the
identification of people in the healthcare market.  Beginning in
early 2011, the Company has focused its strategy on the growth of
its HealthID business, including the continued development of its
GlucoChip, its Easy Check breath glucose detection device, its
iglucose wireless communication system, and potential strategic
acquisition opportunities of businesses that are complementary to
its HealthID business.

PositiveID reported a net loss attributable to common stockholders
of $8.22 million on $945,000 of revenue for the year ended
Dec. 31, 2014, compared with a net loss attributable to common
stockholders of $13.33 million on $0 of revenue for the year ended
Dec. 31, 2013.

Salberg & Company, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014.  The accounting firm noted that
the Company reported a net loss, and used cash for operating
activities of approximately $8.61 million and $2.57 million
respectively, in 2014.  At Dec. 31, 2014, the Company had a working
capital deficiency, stockholders' deficit and accumulated deficit
of approximately $8.076 million, $8.45 million and $133 million,
respectively.


PRECISION ENGINEERED: S&P Withdraws 'B+' Corporate Credit Rating
----------------------------------------------------------------
Standard & Poor's Ratings Services said that it has withdrawn its
'B+' corporate credit rating on Attleboro, Mass.-based component
manufacturer Precision Engineered Products LLC

At the same time, S&P withdrew its 'BB-' issue-level and '2'
recovery ratings on the company's senior secured credit facilities
due 2016.

"The withdrawal follows the completion of Johnson City, Tenn.-based
metal bearing and precision metal components manufacturer NN Inc.'s
acquisition of Precision Engineered Products LLC," said Standard &
Poor's credit analyst Sarah Wyeth.  Precision Engineered Products'
outstanding bank debt was repaid at the close of the transaction.
The company requested that S&P withdraw its ratings following the
sale as all outstanding obligations have been satisfied.



PRECISION OPTICS: Incurs $382,000 Net Loss in First Quarter
-----------------------------------------------------------
Precision Optics Corporation, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $382,000 on $858,000 of revenues for the three months
ended Sept. 30, 2015, compared to a net loss of $296,000 on
$830,000 of revenues for the same period during the prior year.

As of Sept. 30, 2015, the Company had $1.72 million in total
assets, $1.33 million in total liabilities, all current, and
$385,000 in total stockholders' equity.

"We have traditionally funded working capital needs through product
sales, management of working capital components of our business,
and by cash received from public and private offerings of our
common stock, warrants to purchase shares of our common stock or
convertible notes.  We have incurred quarter to quarter operating
losses during our efforts to develop current products including
Microprecision optical elements, micro medical camera assemblies
and 3D endoscopes.  Our management expects that such operating
losses will continue until sales increase to breakeven and
profitable levels.  Our management also believes that the
opportunities represented by these products have the potential to
generate sales increases to achieve breakeven and profitable
results," the Company states in the report.

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

                        http://is.gd/OxTrLb

                       About Precision Optics

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

Precision Optics reported a net loss of $1.17 million on $3.91
million of revenues for the year ended June 30, 2015, compared to a
net loss of $1.16 million on $3.65 million of revenues for the year
ended June 30, 2014.

Stowe & Degon LLC, in Westborough, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended June 30, 2015, citing that the Company has suffered
recurring net losses and negative cash flows from operations, which
raises substantial doubt about its ability to continue as a going
concern.


PRESSURE BIOSCIENCES: Chief Financial Officer Resigns
-----------------------------------------------------
By letter dated Nov. 6, 2015, Pressure Biosciences, Inc.'s Chief
Financial Officer, Richard P. Thomley, announced his decision to
resign from his position, and to return to retirement.  The
resignation was effective immediately.  Such resignation was not
due to a disagreement with the Company on any matter relating to
the Company's operations, policies or practice, according to a Form
8-K report filed with the Securities and Exchange Commission.

The Company's Chief Executive Officer, Richard T. Schumacher, will
be the acting Chief Financial Officer until the Company finds a
replacement for Mr. Thomley.

                     About Pressure Biosciences

Pressure BioSciences, Inc., headquartered in South Easton,
Massachusetts, holds 14 United States and 10 foreign patents
covering multiple applications of pressure cycling technology in
the life sciences field.

Pressure Biosciences reported a net loss applicable to common
shareholders of $6.25 million on $1.37 million of revenue for the
year ended Dec. 31, 2014, compared to a net loss applicable to
common shareholders of $5.24 million on $1.5 million of total
revenue for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $2.21 million in total
assets, $6.70 million in total liabilities and a total
stockholders' deficit of $4.49 million.

Marcum LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, noting that the Company has had recurring net
losses and continues to experience negative cash flows from
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern, the auditors
said.


PRESSURE BIOSCIENCES: Incurs $656,000 Net Loss in Third Quarter
---------------------------------------------------------------
Pressure Biosciences, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
applicable to common shareholders of $656,217 on $580,334 of total
revenue for the three months ended Sept. 30, 2015, compared to a
net loss applicable to common shareholders of $1 million on
$372,545 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 applicable to common shareholders of $3.45 million on
$1.43 million of total revenue compared to a net loss applicable to
common shareholders of $4.80 million on $1.08 million of total
revenue for the same period a year ago.

As of Sept. 30, 2015, the Company had $2.21 million in total
assets, $6.70 million in total liabilities and a total
stockholders' deficit of $4.49 million.

                Liquidity and Financial Condition

"We have experienced negative cash flows from operations with
respect to our pressure cycling technology business since our
inception.  As of September 30, 2015, we did not have adequate
working capital resources to satisfy our current liabilities and as
a result, we have substantial doubt regarding our ability to
continue as a going concern.  We have been successful in raising
cash through debt and equity offerings in the past and as described
in Note 8, we completed several subscriptions of a $5 million PIPE
through and subsequent to September 30, 2015.  We have efforts in
place to continue to raise cash through debt and equity offerings.

"We will need substantial additional capital to fund our operations
in future periods.  In the event that we are unable to obtain
financing on acceptable terms, or at all, we will likely be
required to cease our operations, pursue a plan to sell our
operating assets, or otherwise modify our business strategy, which
could materially harm our future business prospects," the Company
states in the quarterly report.

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

                     http://is.gd/fH6gxU

                  About Pressure Biosciences

Pressure BioSciences, Inc., headquartered in South Easton,
Massachusetts, holds 14 United States and 10 foreign patents
covering multiple applications of pressure cycling technology in
the life sciences field.

Pressure Biosciences reported a net loss applicable to common
shareholders of $6.25 million on $1.37 million of revenue for the
year ended Dec. 31, 2014, compared to a net loss applicable to
common shareholders of $5.24 million on $1.5 million of total
revenue for the year ended Dec. 31, 2013.

Marcum LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, noting that the Company has had recurring net
losses and continues to experience negative cash flows from
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern, the auditors
said.


PUTNAM ENERGY: Dec. 2 Hearing on Bid to Convert Ch. 11 Case
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
continued until Dec. 2, 2015, at 11:00 a.m., to consider the U.S.
Trustee's motion to dismiss or convert the Chapter 11 case of
Putnam Energy, L.L.C., to one under Chapter 7 of the Bankruptcy
Code.

The Debtor has consented to the United Trustee's motion to convert
or dismiss its case.

Putnam Energy, L.L.C., a company with power plant and pipeline
assets, sought Chapter 11 protection (Bankr. N.D. Ill. Case No.
15-08733) on March 11, 2015, in Chicago, Illinois, after it failed
to reach a forbearance agreement with its lender.

The Debtor disclosed $10,394,596 in assets and $2,283,218 in
liabilities as of the Chapter 11 filing.

The case is assigned to Judge Carol A. Doyle.  Terrence O'Malley,
manager and CEO, signed the petition.  

The Debtor is represented by Douglas S Draper, Esq., at Heller,
Draper, Patrick, Horn & Dabney, LLC, in New Orleans, as counsel.


PUTNAM ENERGY: Hearing on Cash Collateral Use Continued to Dec. 2
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
continued until Dec. 2, 2015, at 11:00 a.m., to consider the motion
Putnam Energy, L.L.C.'s use of cash collateral.

As reported by The Troubled Company Reporter on Nov. 2, 2015, the
Court has authorized the use of cash collateral until Nov. 12,
2015.  The Court also authorized the Debtor to pay monthly
provisional and partial adequate protection of $9,900 to Bridgeview
Bank Group.

As reported by the TCR on May 13, 2015, Bridgeview Bank Group has a
judgment against Putnam Energy in the sum of $1,763,622 as of April
16, 2014, which accrues interest at the statutory rate of 9% per
annum plus attorneys' fees and costs.  

Bridgeview Bank Group asserts a security interest in all of the
property of Putnam Energy's estate.  As adequate protection from
any diminution in value of the lender's collateral, the company
granted the lender replacement liens and a superpriority claim.

                        About Putnam Energy

Putnam Energy, L.L.C., a company with power plant and pipeline
assets, sought Chapter 11 protection (Bankr. N.D. Ill. Case No.
15-08733) on March 11, 2015, in Chicago, Illinois, after it failed
to reach a forbearance agreement with its lender.

The Debtor disclosed $10,394,596 in assets and $2,283,218 in
liabilities as of the Chapter 11 filing.

The case is assigned to Judge Carol A. Doyle.  Terrence O'Malley,
manager and CEO, signed the petition.  

The Debtor is represented by Douglas S Draper, Esq., at Heller,
Draper, Patrick, Horn & Dabney, LLC, in New Orleans, as counsel.


QUEST SOLUTION: Posts $697,000 Net Income for Third Quarter
-----------------------------------------------------------
Quest Solution, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $697,000 on $16.7 million of total revenues for the three months
ended Sept. 30, 2015, compared to net income of $62,800 on $9.08
million of total revenues for the same period in 2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $10,100 on $40.9 million of total revenues compared to
net income of $47,000 on $26.1 million of total revenues for the
same period during the prior year.

As of Sept. 30, 2015, the Company had $38.3 million in total
assets, $36.0 million in total liabilities and $2.32 million in
total stockholders' equity.

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

                       http://is.gd/GtjI8K

                        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.

                            *    *     *

This concludes the Troubled Company Reporter's coverage of Quest
Solution until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at
a level sufficient to warrant renewed coverage.


QUIKSILVER INC: Unsecured Creditors to Recover 2.7% Under Plan
--------------------------------------------------------------
Quiksilver, Inc., et al., filed with U.S. Bankruptcy Court for the
District of Delaware a first amended disclosure statement
explaining their First Amended Joint Chapter 11 Plan of
Reorganization to reflect comments from parties-in-interest and
provide additional information.

The Disclosure Statement provides that on the effective date,
Reorganized Quiksilver will issue new common stock to be
distributed as follows: (a) first, 19% to holders of Allowed
Secured Notes Claims; (b) second, up to 77% to Rights Offering
Participants; and (c) third, 4% to the Backstop Parties.  As of the
Effective Date, the anticipated value of the New Quiksilver Common
Stock will be approximately $276 million.

If the Euro Notes Exchange Offer is not consummated, then the value
of the New Quiksilver Common Stock as of the effective date will be
approximately $221 million.  Stock will be distributed as follows:
(a) first, 25% to holders of Allowed Secured Notes Claims; (b)
second, up to 70% to Exit Rights Offering Participants under the
Exit Rights Offering; and (c) third, 5% to the Backstop Parties
under the Backstop Commitment Letter.

The Reorganized Debtors' debt at emergence will comprise of the
following: (i) the Exit Facility of up to $120 million, (ii) an
estimated EUR50 million of Euro Notes, and (iii) $48 million of
European lines of credit and other borrowing facilities.  At
emergence, the Reorganized Debtors anticipate having liquidity of
approximately $43 million due to a combination of cash-on-hand and
availability under the Exit Facility.

Holders of Class 4 - Secured Notes Claims are expected to recover
18.4-19.4%.  Holders of Class 5-A - Unsecured Notes Claims are
expected to recover 2.7%, while holders of Class 5-B General
Unsecured Claims are expected to recover 2.7%.

A full-text copy of the First Amended Disclosure Statement dated
Nov. 17 is available at http://bankrupt.com/misc/QSIds1117.pdf

                      About Quiksilver Inc.

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

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

The U.S. trustee overseeing the Chapter 11 cases of Quiksilver
Inc. and its affiliates appointed seven members to the official
committee of unsecured creditors.


QUIRKY INC: Judge Approves Sale of Wink Assets to Flextronics
-------------------------------------------------------------
An affiliate of Quirky Inc. received court approval to sell its
assets to Flextronics International USA Inc.

The order, issued by U.S. Bankruptcy Judge Martin Glenn, allowed
smart-home products company Wink Inc. to sell its assets, including
its intellectual property, to Flextronics for $15 million.

Flextronics will also assume certain liabilities of the company
under the deal, according to court filings.

The assets were supposed to be sold in an auction on Nov. 2, with
Flextronics' offer serving as the stalking horse bid.  Wink
canceled the auction after it failed to draw competing bids.

The sale previously drew objection from General Electric Co., which
opposed the proposed assignment of its contracts to Flextronics and
the sale of software that it claims is no longer owned by Wink.
The objection has already been resolved, court filings show.

Meanwhile, Wink resolved the official committee of unsecured
creditors' informal objection by inserting provisions, one of which
allows the group to seek relief from the bankruptcy court in case
of a dispute regarding payment of so-called cure amounts.

A copy of the sale order is available without charge at
http://is.gd/rgT70C

                       About Quirky, Inc.

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

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

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

Judge Martin Glenn is assigned to the jointly administered cases.

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

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

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


RCB BANK: Moody's Raises Deposit Ratings to B3, Outlook Stable
--------------------------------------------------------------
Moody's Investors Service has upgraded RCB Bank Ltd's deposit
ratings to B3 from Caa1.  The upgrade of the deposit ratings is
driven solely by the upgrade of the bank's baseline credit
assessment (BCA) to b3 from caa1.  While RCB Bank remains highly
reliant on its largest shareholder, the Russian government-owned
Bank VTB, JSC (long-term foreign currency deposit rating: Ba2
negative, BCA:b1), to generate business volumes, the reduction of
Bank VTB's ownership in 2014 lead Moody's to no longer incorporate
affiliate support uplift in RCB Bank's ratings.  The outlook on the
long term deposit ratings is stable.

The rating agency has also upgraded RCB Bank's Counterparty Risk
Assessment (CR Assessment) to B1(cr) from B3(cr).

The upgrade of RCB Bank's BCA to b3 reflects Moody's expectation of
a gradual strengthening of the bank's modest standalone franchise
outside the VTB Group, supporting its earnings diversification,
combined with low problem loans and solid capitalization.  The BCA
is restricted by the high concentration in the bank's funding and
loan book.

RATINGS RATIONALE

Small, developing standalone franchise, but linkage to Bank VTB
remains strong.

Loans originated and guaranteed by its largest shareholder, Bank
VTB, dominate RCB Bank's loan book.  These loans accounted for
around 70% of total loans as of June 2015.  However, RCB Bank has
been gradually developing its standalone franchise.  The bank
targets an expansion both in its operations with foreign customers
based in Cyprus and to a lesser extent with Cypriot customers.

Bank VTB reduced the volume of business with RCB Bank during 2013
and early 2014 following the financial crisis in Cyprus.  Bank
VTB's involvement in RCB Bank was further reduced following the
dilution of Bank VTB's ownership of RCB Bank in November 2014 to
46% from 60% previously.  Although further material disengagement
by Bank VTB poses downside risks to RCB Bank's business, Moody's
assigns a low probability of this risk materialising over the next
two to three years, and in 2015 Bank VTB increased its business
volumes with RCB Bank again.

Low NPLs and a strong solvency position

Although RCB Bank's asset base is vulnerable because of the ongoing
recession in Russia, the main operating environment of its clients,
Moody's expects the bank to maintain its strong solvency position
stemming from high capital buffers and a low NPL ratio. As of June
2015, the bank's Tier 1 capital ratio stood at 20.95%, while the
ratio of NPLs to gross loans was a low 0.64% as of
Dec. 2014.  Credit risk in RCB Bank's loan book is relatively
contained owing to the fact that the bulk of its loans are
collateralized by cash.

High concentration levels

RCB Bank has high concentration levels on its balance sheet.  The
sum of the bank's 20 largest loans is significant relative to the
bank's capital, though the related credit risk is largely mitigated
by guarantees from Bank VTB and cash collateral.  In the part of
the loan book that is generated by RCB Bank itself, concentration
is significantly lower.  Though liquidity risk is partly mitigated
by the large portion of funding that is placed with the bank as
security against loans, concentration levels are also high in RCB
Bank's funding.  Funding from Bank VTB accounted for 70% of
liabilities and 91% of interbank funding as of June 2015, while in
addition there is relatively high concentration in RCB Bank's small
deposit base.

UPGRADE OF THE DEPOSIT RATINGS TO B3

Despite RCB Bank's high reliance on Bank VTB, Moody's does not
incorporate affiliate support uplift in RCB Bank's deposit ratings
reflecting Bank VTB's reduced ownership in RCB Bank.

RCB Bank, similar to other banks in the Eurozone, is subject to the
Bank Resolution and Recovery Directive (BRRD), under which a
framework is now in place setting out the explicit inclusion of
burden-sharing with unsecured creditors as a means of reducing the
public cost of bank resolutions.  As a result, in accordance with
its methodology, Moody's applies its Advanced Loss Given Failure
(LGF) analysis, considering the risks faced by the different debt
and deposit classes across the liability structure should the bank
enter resolution.

Moody's LGF analysis indicates a preliminary rating assessment of
RCB Bank's rated deposits of B3, based on the bank's liability
structure, adjusted to reflect RCB Bank's deposit composition.  RCB
Bank's deposits are predominately from corporate entities and the
rating agency has reflected this in its assumed portion of junior
deposits, for which Moody's assumes a higher loss absorption.

UPGRADE OF THE CR ASSESSMENT TO B1(CR)

The upgrade of RCB Bank's CR Assessment to B1(cr) is driven by the
upgrade of its BCA to b3 and the raising of the deposit ceiling for
Cyprus to Baa1 from B3 in November 2015 which was driven by the
full removal of capital controls earlier in the year.  RCB Bank's
B1(cr)/NP(cr) CR Assessment is positioned two notches above the
bank's Adjusted BCA of b3.  This is based on the cushion against
default provided to the senior obligations, represented by
subordinated instruments amounting to 14% of Tangible Banking
Assets.

WHAT COULD CHANGE THE RATING UP/DOWN

Positive pressure could be exerted on RCB Bank's ratings if the
bank further strengthens its franchise, whether with Bank VTB or
outside the VTB group, without increasing its risk appetite or
worsening its financial profile.

Downward pressure on RCB Bank's ratings could develop following a
deterioration in its financial profile or a weakening in its
franchise value, potentially signaled by VTB's further
disengagement.

List of Affected Ratings

Upgrades:

  LT Bank Deposits (Foreign Currency and Local Currency), Upgraded

   to B3 Stable from Caa1 Stable
  Baseline Credit Assessment, Upgraded to b3 from caa1
  Adjusted Baseline Credit Assessment, Upgraded to b3 from caa1
  LT Counterparty Risk Assessment, Upgraded to B1(cr) from B3(cr)

Affirmations:

  ST Counterparty Risk Assessment, Affirmed NP(cr)
  ST Bank Deposits (Foreign Currency and Local Currency),
   Affirmed NP

Outlook Actions:

  Outlook, Remains Stable

The principal methodology used in these ratings was Banks published
in March 2015.



REICHHOLD HOLDINGS: Plan Goes to Jan. 13 Confirmation Hearing
-------------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware on Nov. 19, 2015, approved the disclosure statement
explaining Reichhold Holdings US, Inc., et al.'s Second Amended
Plan of Liquidation and scheduled the hearing to consider
confirmation of the Plan for Jan. 13, 2016, at 2:00 p.m. (Eastern
Time).

Prior to the Disclosure Statement hearing, the Debtors amended the
Disclosure Statement to, among other things, provide that the
"Liquidating Trust Funding Amount" is estimated to be $19 million.

Distributions under the Plan to each Holder of an Insured Claim
will be limited to Distributions as the Holder of an Allowed
General Unsecured Claim for the following amounts: (a) the
applicable self-insured retention under the relevant policy and (b)
the amount by which a Claimholder's Claim exceeds the total
coverage available from the relevant insurance policies of the
Debtors.

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

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

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

The Official Committee of Unsecured Creditors filed a statement
with the Court saying it supports the Plan.

The deadline for filing and serving objections to confirmation of
the Plan is Jan. 6.

A full-text copy of the Disclosure Statement dated Nov. 17, 2015,
is available at http://bankrupt.com/misc/RHds1117.pdf

                     About Reichhold Holdings

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

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

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

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

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

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

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


RELATIVITY MEDIA: Files Ch 11 Plan, Aims Bankruptcy Exit in 2016
----------------------------------------------------------------
Matt Donnelly at The Wrap reports that Relativity Media filed on
Nov. 18, 2015, a reorganization plan with the U.S. Bankruptcy
Court, hoping to emerge from Chapter 11 bankruptcy by January 2016.
The report says that the Court will hold a hearing on Dec. 16,
2015.

The Wrap relates that the Plan is aimed at reducing the Company's
debt to below $60 million, raising $100 million in new equity, and
releasing up to seven of the Company's orphaned movies within 18
months after the planned Chapter 11 emergence.  The report quoted a
Relativity spokesperson as saying, "Upon emergence in late January,
the Company's $35 million DIP loan will be paid in full, its debt
load will be reduced to $60 million or less, and it expects to
receive up to $100 million in new equity.  Additionally, Relativity
plans to release seven films funded in part by a new $250 million
Ultimates/P&A facility.  As is often the case in complex Chapter 11
cases, the plan may evolve as the parties refine negotiations."

According to The Wrap, the $100 million in capital comes from a
pact with investor Jim Cantelupe of Summit Trail Advisors, with
funds to be escrowed by the end of 2015.  

The Wrap states that under the Plan, unsecured creditors will get
roughly $4 million in cash payments and "the opportunity to share
with the company in future recoveries."

James Rainey at Variety.com reports that among challenges that
still confront the Company is the raising of necessary capital to
persuade Bankruptcy Judge Michael Wiles that the Company can go
ahead as a viable concern.  The report says that while the Company
suggested prior to its bankruptcy filing that it had identified
financial saviors, including VII Peaks Capital of the San Francisco
Bay Area, the capital infusions proved to be much smaller than
touted and not almost enough to save the Company.

According to Gregg Kilday at The Hollywood Reporter, the Plan also
calls for the release of seven films that have already completed
principal photography over the next 18 months.

If the Plan is rejected, "there can be no assurance that the
Chapter 11 cases will continue rather than be converted to Chapter
7 liquidation cases, or that any alternative plan of reorganization
would be on terms as favorable to Holders of Claims as the terms of
the Plan," David Lieberman and Dominic Patten at Deadline.com
relate, citing the Company.

                         About Relativity

Relativity -- http://relativitymedia.com/-- is a next-generation  

global media company engaged in multiple aspects of content
production and distribution, including movies, television, sports,
digital and music.  More than just a collection of
entertainment-related businesses, Relativity is a content engine
with the ability to leverage each of these business units,
independently and together, to create content across all mediums,
giving consumers what they want, when they want it.

Relativity Studios, the Company's largest division, has produced,
distributed or structured financing for more than 200 motion
pictures, generating more than $17 billion in worldwide box-office
revenue and earning 60 Oscar nominations.  Relativity's films
include Oculus, Safe Haven, Act of Valor, Immortals, Limitless,
and The Fighter.

Relativity Media LLC and its affiliates, including Relativity
Fashion, LLC, sought protection under Chapter 11 of the Bankruptcy
Code on July 30, 2015 (Bankr. S.D.N.Y., Case No. 15-11989).  The
case is assigned to Judge Michael E. Wiles.

The Debtors are represented by Craig A. Wolfe, Esq., Malani J.
Cademartori, Esq., and Blanka K. Wolfe, Esq., at Sheppard Mullin
Richter & Hampton LLP, in New York; and Richard L. Wynne, Esq.,
Bennett L. Spiegel, Esq., and Lori Sinanyan, Esq., at Jones Day,
in New York.

Brian Kushner of FTI Consulting, Inc., serves as chief
restructuring officer and crisis and turnaround manager.  Luke
Schaeffer of FTI Consulting, Inc., serves as deputy CRO.

Blackstone Advisory Partners L.P. serves as the Debtors'
investment banker.  The team is led by Timothy Coleman, Senior
Managing Director, CJ Brown, Senior Managing Director, Paul
Sheaffer, Vice President, and Joseph Goldschmid, Associate.

The Debtors' noticing and claims agent is Donlin, Recano &
Company, Inc.

                           *     *     *

An investor group composed of Anchorage Capital Group, L.L.C.,
Falcon Investment Advisors, LLC and Luxor Capital Group, LP on
Oct.
21 completed its purchase of the assets of Relativity Television.

Macquarie Investments US Inc. withdrew its motion for adequate
protection or relief from the automatic stay after the Debtors
opted to only sell their TV business instead of substantially all
assets.

After selling their TV business, the Debtors say that they intend
to formulate a plan to restructure their business around their
remaining assets, including the Debtors' motion picture assets.


RESTORGENEX CORP: Incurs $13.2 Million Net Loss in Third Quarter
----------------------------------------------------------------
Restorgenex Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $13.2 million on $0 of revenues for the three months ended Sept.
30, 2015, compared to a net loss of $3.44 million on $0 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 $20.7 million on $0 of revenues compared to a net loss
of $9.28 million on $0 of revenues for the same period a year ago.

As of Sept. 30, 2015, the Company had $23.37 million in total
assets, $4.30 million in total liabilities and $19.06 million in
total stockholders' equity.

As of Sept. 30, 2015, cash and cash equivalents totaled
approximately $14.6 million, which the Company believes is
sufficient to fund its operations into the second half of 2016. The
Company has no debt.  

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

                       http://is.gd/0u9q0C

                        About RestorGenex

RestorGenex Corporation operates as a biopharmaceutical company.
It focuses on dermatology, ocular disease, and women's health
areas.  The company was formerly known as Stratus Media Group,
Inc., and changed its name to RestorGenex Corporation in March
2014.  RestorGenex Corporation is based in Los Angeles,
California.

Restorgenex reported a net loss of $14.4 million in 2014,
a net loss of $2.46 million in 2013 and a net loss of $6.85 million
in 2012.


RICEBRAN TECHNOLOGIES: Incurs $1.57-Mil. Net Loss in 3rd Quarter
----------------------------------------------------------------
RiceBran Technologies filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.57 million on $8.91 million of revenues for the three months
ended Sept. 30, 2015, compared to a net loss of $4.92 million on
$10.41 million of revenues for the same period a year ago.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $9.17 million on $29.98 million of revenues compared to
a net loss of $23.4 million on $29.4 million of revenues for the
same period during the prior year.

As of Sept. 30, 2015, the Company had $35.5 million in total
assets, $27.2 million in total liabilities, $195,000 in temporary
equity and $8.14 million in total equity attributable to the
Company's shareholders.

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

                       http://is.gd/DsnXNm

                         About RiceBran

Scottsdale, Ariz.-based RiceBran Technologies, a California
corporation, is a human food ingredient and animal nutrition
company focused on the procurement, bio-refining and marketing of
numerous products derived from rice bran.

Ricebran incurred a net loss of $26.6 million in 2014 following a
net loss of $17.6 million in 2013.

Marcum, LLP, in New York, NY, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has suffered recurring
losses from operations resulting in an accumulated deficit of
$242.5 million at Dec. 31, 2014.  This factor among other things,
raises substantial doubt about its ability to continue as a going
concern.


SABINE OIL: Has Until Dec. 16 to File Chapter 11 Plan
-----------------------------------------------------
The Hon. Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York, in a bridge order, extended Sabine
Oil & Gas Corporation, et al.'s exclusive periods to file a Chapter
11 plan and solicit acceptances for the plan until Dec. 16, 2015.

The hearing on the exclusivity extensions will be held on Dec. 16,
at 10:00 a.m.  Objections, if any, are due Dec. 2, at 4:00 p.m.

The Debtors requested that the Court extend their exclusive periods
to file a chapter 11 plan until March 11, 2016, and solicit
acceptances for that plan until May 10.

The Debtors explained that the ongoing discovery and related
investigations coupled with the pending adversary proceeding
represent important contingencies that require resolution before a
plan of reorganization that provides the best recoveries for the
Debtors' creditors and presents the best results for a successful
reorganization can be finalized.

                       About Sabine Oil & Gas

Sabine Oil & Gas Corp. is an independent energy company engaged in
the acquisition, production, exploration, and development of
onshore oil and natural gas properties in the U.S.  The Company's
current operations are principally located in the Cotton Valley
Sand and Haynesville Shale in East Texas, the Eagle Ford Shale in
South Texas, the Granite Wash in the Texas Panhandle, and the North
Louisiana Haynesville.  The Company operates, or has joint working
interests in, approximately 2,100 oil and gas production sites
(approximately 1,800 operating and approximately 315 non-operating)
and has approximately 165 full-time employees.

Sabine Oil and its affiliated entities sought Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 15-11835) in Manhattan on July 15,
2015.

The Debtors have engaged Kirkland & Ellis LLP and Kirkland & Ellis
International LLP, as counsel; Lazard Freres & Co. LLC, as
investment banker and Prime Clerk LLC as notice, claims and
balloting agent.  The Debtors also tapped Zolfo Cooper Management,
LLC, to provide Jonathan A. Mitchell as CRO and other additional
personnel.

The U.S. Trustee for Region 2 appointed five creditors to serve on
the official committee of unsecured creditors.  The Committee is
represented by Mark R. Somerstein, Esq., Keith H. Wofford, Esq.,
and D. Ross Martin, Esq., at Ropes & Gray LLP as their counsel.
The Committee is also hiring Blackstone Advisory Partners L.P. as
investment banker; and Berkeley Research Group, LLC as financial
advisor.


SABINE OIL: Nov. 24 Hearing on Performance Award Program Approval
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
will convene a hearing on Nov. 24, 2015, at 2:00 p.m., to consider
Sabine Oil & Gas Corporation, et al.'s  motion for approval of the
performance award program.

On Aug. 21, 2015, the Debtors sought approval of two distinct
employee incentive plans: (a) the performance award program and (b)
the fixed bonus award program.  On Sept. 10, 2015, the Court
approved, without objection, the fixed bonus award program, which
provides fixed cash bonuses to the Debtors' non-officer employees.


At the Debtors' unopposed request, the Court adjourned the motion
as it relates to the performance award program, to provide the
debtors and other interested parties additional time to discuss the
plan.

In this relation, the Debtors supplemented their motion to approve
the performance award program.  The Debtors note that as a result
of meeting with creditor groups, the Official Committee of
Unsecured Creditors, and the U.S. Trustee, several modifications
were made including a new capital efficiency performance metric.

                  The Performance Award Program

The performance award program provides nine members of the Debtors'
management team with the opportunity to earn semi-annual
incentive-based cash awards if the Debtors achieve pre-established
financial and operational milestones.    

Employee Status   Participant   Estimated   Estimated  Estimated
---------------   Count         Semi-Annual Annual     Maximum
                   -----------   Target      Target     Value
                                 Value       Value       ---------
                                 ----------  ---------  
Tier 1               4          $2,224,042  $4,448,084 $6,672,126
Insiders

Tier 2
Non-Insiders         5            $781,564  $1,563,127 $2,344,691
----------------
Total                9          $3,005,606  $6,011,211 $9,016,817

The Debtors noted that they depend on their leadership team to
oversee their highly-skilled workforce and to make decisions that
drive the financial and operational performance of the business.

                       About Sabine Oil & Gas

Sabine Oil & Gas Corp. is an independent energy company engaged in
the acquisition, production, exploration, and development of
onshore oil and natural gas properties in the U.S.  The Company's
current operations are principally located in the Cotton Valley
Sand and Haynesville Shale in East Texas, the Eagle Ford Shale in
South Texas, the Granite Wash in the Texas Panhandle, and the North
Louisiana Haynesville.  The Company operates, or has joint working
interests in, approximately 2,100 oil and gas production sites
(approximately 1,800 operating and approximately 315 non-operating)
and has approximately 165 full-time employees.

Sabine Oil and its affiliated entities sought Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 15-11835) in Manhattan on July 15,
2015.

The Debtors have engaged Kirkland & Ellis LLP and Kirkland & Ellis
International LLP, as counsel; Lazard Freres & Co. LLC, as
investment banker and Prime Clerk LLC as notice, claims and
balloting agent.  The Debtors also tapped Zolfo Cooper Management,
LLC, to provide Jonathan A. Mitchell as CRO and other additional
personnel.

The U.S. Trustee for Region 2 appointed five creditors to serve on
the official committee of unsecured creditors.  The Committee is
represented by Mark R. Somerstein, Esq., Keith H. Wofford, Esq.,
and D. Ross Martin, Esq., at Ropes & Gray LLP as their counsel.
The Committee is also hiring Blackstone Advisory Partners L.P. as
investment banker; and Berkeley Research Group, LLC as financial
advisor.


SABLE NATURAL: Incurs $547,000 Net Loss in Third Quarter
--------------------------------------------------------
Sable Natural Resources Corporation filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $547,000 on $150,000 of total revenues for the three
months ended Sept. 30, 2015, compared to a net loss of $756,000 on
$141,000 of total revenues for the same period during the prior
year.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $3.28 million on $681,700 of total revenues compared to
a net loss of $1.36 million on $582,000 of total revenues for the
same period in 2014.

As of Sept. 30, 2015, the Company had $14.82 million in total
assets, $20.5 million in total liabilities, $1.23 million in
preferred stock, series A convertible, and a $6.95 million total
stockholders' deficit.

                Liquidity and Capital Resources

"Our working capital needs have historically been satisfied through
operations, equity and debt investments from private investors,
loans with financial institutions, and through the sale of assets.
Historically, our primary use of cash has been to pay for
acquisitions and investments, service our debt, and for general
working capital requirements.  As of September 30, 2015, we have
cash and cash equivalents totaling $113,302, and negative working
capital of $(14,673,098).

We do not currently generate sufficient cash flow from operations,
and so we are continuing to raise additional capital through equity
and/or debt financings to support and expand our drilling
activities until such time as we can fully implement our plan of
future operations and generate sufficient cash flow.  We are
currently in default on substantially all of our debt obligations,
and our operating subsidiary has filed for Chapter 11 bankruptcy
seeking ways to restructure the Company to satisfy our creditors,"
the Company states in the report.

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

                       http://is.gd/1hAWcV

                       About Sable Natural

Sable Natural Resources Corporation is an energy holding company
with principal operations centralized in its wholly-owned
subsidiary, Sable Operating Company, Inc.  Sable was formerly known
as NYTEX Energy Holdings, Inc. and Sable Operating was formerly
known as NYTEX Petroleum Inc.  Sable Operating is a development
stage exploration and production company engaged in the
acquisition, development, and production of liquids rich natural
gas and oil reserves from low-risk, high rate-of-return wells in
the Fort Worth Basin of Texas.  On Dec. 31, 2014, the Company's
estimated proved reserves were 669.12 MBOE, of which 100% were
proved developed.  The Company's portfolio of proved developed
natural gas and oil reserves is weighted in favor of liquids rich
natural gas, with the Company's proved reserves consisting of 15%
oil, 38% natural gas liquids and 47% natural gas.  Also, on Dec.
31, 2014, the Company's probable reserves were 565 MBOE consisting
of 17% oil, 2% NGL, and 81% natural gas, and the Company's possible
reserves were 1,231 MBOE consisting of 19% oil, 2% NGL, and 79%
natural gas.

Sable Natural reported a net loss of $4.62 million on $912,000 of
total revenues for the year ended Dec. 31, 2014, compared with a
net loss of $2.67 million on $930,000 of total revenues for the
year ended Dec. 31, 2013.

Whitley Penn LLP, in Dallas, Texas, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company will need additional
working capital to fund operations.  This condition raises
substantial doubt about the Company's ability to continue as a
going concern.


STANDARD REGISTER: Court Confirms Ch. 11 Liquidation Plan
---------------------------------------------------------
Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware on Nov. 19, 2015, issued a findings of fact,
conclusions of law, and order confirming the Second Amended Chapter
11 Plan of Liquidation for SRC Liquidation Company, f/k/a The
Standard Register Company, and its debtor affiliates.

Assets of Standard Register and its affiliates were sold to Taylor
Corp., a privately held company.  According to the disclosure
statement, the proceeds from the sale were used to pay Standard
Register's debtor-in-possession financing, claims of the first lien
term lenders, and a portion of the claims of the second lien term
lenders.  The company also used the proceeds to fund the $5 million
GUC cash payment.

Taylor also assumed certain limited obligations and advanced
$15.076 million for payment of claims related to the wind-down of
the companies and their Chapter 11 cases.  Standard Register used a
portion of that amount to loan $600,000 to the GUC Trust.  

The liquidation plan proposes to pay 1% of the allowed claims of
general unsecured creditors.

Christina Pullo, the senior director of solicitation of Prime Clerk
LLC, filed a declaration informing the Court that an overwhelming
majority of holders of claims entitled to vote on the Plan voted to
accept the Plan.  Specifically, Ms. Pullo said 100% of holders of
Class 3 - Senior Lien Secured Claim voted to accept the Plan, while
92.89% of holders of Class 4 - General Unsecured Claims voted to
accept the Plan.

Prior to the Confirmation Hearing, the Debtors filed a Modified
Second Amended Plan to reflect certain technical modifications.  A
blacklined copy of the Amended Plan dated Nov. 18 is available at
http://bankrupt.com/misc/SRCplan1118.pdf

The Debtors also filed Plan Supplement containing, among other
things, the Form of Final Decree Closing Certain Cases and Amending
Caption of Remaining Case.  A full-text copy of the Plan Supplement
dated Nov. 17 is available at
http://bankrupt.com/misc/SRCplansupp1117.pdf

                    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.


SUNTECH AMERICA: Files Chapter 11 Liquidation Plan
--------------------------------------------------
Suntech America, Inc., et al., filed with the U.S. Bankruptcy Court
for the District of Delaware a combined disclosure statement and
Chapter 11 plan of liquidation, which serve as the culmination of
extensive negotiations between the Debtors, the Official Committee
of Unsecured Creditors, The Solyndra Residual Trust and Wuxi
Suntech Power Co., Ltd./Suntech Power Asia Pacific.

Solyndra asserts a $1.5 billion Claim against the Debtors, and Wuxi
asserts Claims against the Debtors in the aggregate amount of more
than $145 million.  The Debtors have agreed to settle the Wuxi and
Solyndra Claims and agreed that the Claims will be Allowed in the
amounts of $216,265,149 and $144,176,766, respectively, and
Solyndra and Wuxi will receive a total Distribution of $10,312,500,
plus 60% of the total value of any Additional Assets.

A full-text copy of the Plan and Disclosure Statement, dated Nov.
17, 2015, is available at
http://bankrupt.com/misc/SUNTECHplan1117.pdf

                      About Suntech America

Suntech America, Inc., and Suntech Arizona, Inc. filed for Chapter
11 bankruptcy protection (Bankr. D. Del. Case Nos. 15-10054 and
15-10056) on Jan. 12, 2015.  Judge Christopher S. Sontchi presides
over the case.

Mark D. Collins, Esq., Paul Noble Heath, Esq., William A.
Romanowicz, Esq., Zachary I Shapiro, Esq., at Richards, Layton &
Finger, P.A., serve as the Debtors' bankruptcy counsel.  Upshot
Services LLC is the Debtors' claims and noticing agent.

The Debtors estimated their assets at between $100 million and $500
million, and their debts at between $100 million and $500 million.

Headquartered in San Francisco, California, Suntech America, aka
Suntech Power, an affiliate of Wuxi, China-based Suntech Power
Holdings Corp., was the main operating subsidiary of the Suntech
Group in the Americas and its primary business purpose was acting
as an intermediary for marketing, selling and distributing Suntech
Group manufactured products.


SYNOVUS FINANCIAL: Fitch Corrects Nov. 18 Press Release
-------------------------------------------------------
Fitch Ratings issued a correction to a release on Synovus Financial
Corp. published Nov. 18, 2015. It corrects the long-term IDR and
Viability Rating for Synovus Bank provided in the ratings list of
the original release.

The corrected press release is as follows:

Fitch Ratings has upgraded Synovus Financial Corp.'s (SNV) and its
principal subsidiary Synovus Bank's long-term Issuer Default
Ratings (IDRs) to 'BBB-' from 'BB+' and Viability Ratings (VRs) to
'bbb-' from 'bb+'. At the same time, Fitch has upgraded the
companies' short-term IDRs (IDRs) to 'F3' from 'B'.  The Rating
Outlook has been revised to Stable from Positive.

KEY RATING DRIVERS

VR, IDR, AND SENIOR DEBT

The action reflects SNV's improvements in asset quality, stable
operating performance, along with the maintenance of strong
regulatory capital ratios and the company's solid franchise in
Georgia such that, in Fitch's view, its risk profile is more in
line with other investment grade banks.  The Rating Outlook has
been revised to Stable from Positive indicating that further rating
movement upward in the near to medium term is unlikely.

Asset quality, a ratings driver that Fitch had placed higher
emphasis on for SNV, has continued its strong improvement over the
last year and is more in-line with investment grade banks.  Fitch
calculates SNV's nonperforming assets (NPAs) at 2.10% at 3Q'15, an
improvement of 145bps year-over-year.  Over the same time period,
the dollar volume of NPAs has dropped another 42% as management has
remained successful in working out of problem loans (nonaccrual as
well as accruing troubled debt restructures) and disbursing
foreclosed property.

Furthermore, nonperforming loan (NPL) inflows have normalized
considerably, averaging just $28 million per quarter over the last
five quarters which has also played a role in reducing NPAs over
time.  The reduction in NPAs has not come at the cost of
significantly higher credit costs evidenced by year-to-date (YTD)
net charge-offs (NCOs) of 15bps vs. 40bps through the first nine
months of 2014.  Fitch's view that asset quality as a whole has
improved such that it has converged with investment-grade peers is
reflected in today's rating action.  Moreover, while further asset
quality improvement is likely over time, SNV's level of asset class
concentration in commercial real estate and geographic
concentration within the state of Georgia are seen as rating
constraints in the medium to long term.

SNV's operating performance, another key ratings driver Fitch had
identified in the past as a high influence factor on the company's
overall rating, has remained in-line with other investment grade
peer banks.  SNV has been able to generate reasonable returns over
recent periods, primarily due to lower credit-related costs
(provisions, litigations costs, OREO expenses and, etc.) as well as
improved operating efficiencies and a steady level of fee revenue.
Through 3Q15, the company generated a return on average assets
(ROA) of 80bps, a reasonable improvement over SNV's 72bps ROA
through 3Q'14 and 61bps through 3Q13.

Assuming a marginal increase in interest rates into 2016, Fitch
believes SNV's ROA could modestly improve given its disclosed asset
sensitive balance sheet.  However, Fitch expects operating
performance to remain below that of higher rated peers over the
near to medium term due to SNV's relatively higher cost structure
and a greater reliance on spread revenue

Fitch views SNV's capital as adequate relative to both its risk
profile and rating.  SNV reports one of the highest tangible common
equity (TCE) ratios among its peer group and a strong estimated,
fully phased-in Basel III common equity tier 1 (CET1) ratio of 10%
well above the 7% requirement.  The bank has now increased its
quarterly dividend two years in a row due to the above mentioned
earnings improvement and announced a $300 million share buyback
program to be completed over the remainder of 2015 and all of 2016.
This comes on the heels of a $250 million buyback program executed
over the last four quarters.  These actions are in line with
Fitch's expectations given SNV's continued improvement in its
financial condition.

Fitch expects that SNV will continue to distribute some of this
capital to shareholders; however, these distributions will be
constrained by regulatory and internal stress testing, and as such,
Fitch expects SNV's capital ratios will likely stay elevated over
the near term.  Fitch also observes that SNV has over $200 million
in a disallowed deferred tax asset (DTA) that will continue to
accrete into CET1 going forward, providing additional support to
regulatory capital ratios and capital distributions.

Finally, incorporated into the rating action is Fitch's view that
management has successfully executed on rehabilitating SNV's
financial profile and strengthened risk oversight while maintaining
the bank's solid Southeastern U.S. franchise.  SNV continues to
have strong market presence, particularly in rural markets of
southwest Georgia and eastern Alabama.  Fitch believes this could
have a net positive impact to funding costs and to the company's
bottom line over time if it is able to successfully lag deposit
pricing in those more isolated markets where it has dominant market
share in a rising rate environment.

SUBORDINATED DEBT AND OTHER HYBRID SECURITIES

SNV's subordinated debt is notched one level below its VR of 'bbb-'
for loss severity.  SNV's preferred stock is notched five levels
below its VR, two times for loss severity and three times for
non-performance.  These ratings are in accordance with Fitch's
criteria and assessment of the instruments non-performance and loss
severity risk profiles.

LONG-AND-SHORT-TERM DEPOSIT RATINGS

The uninsured deposit ratings of SNV are rated one notch higher
than SNV's IDR and senior unsecured debt because U.S. uninsured
deposits benefit from depositor preference. U.S. depositor
preference gives deposit liabilities superior recovery prospects in
the event of default.

HOLDING COMPANY

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

SUPPORT RATING AND SUPPORT RATING FLOOR

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

RATING SENSITIVITIES

VR, IDS, AND SENIOR DEBT

With today's action, further upward movement of the company's
ratings are considered limited in the near to medium term.  Fitch
expects earnings and asset quality to improve over the rating time
horizon.  This expectation is incorporated into today's rating
action.  Fitch could take adverse rating action should earnings and
asset quality improvement not come to fruition as expected
evidenced by flat-to-deteriorating ROA or reversal in AQ trends.

The ratings action also incorporates Fitch's expectation that SNV
will begin to more seriously seek merger and acquisition (M&A)
opportunities in order to build out its franchise and potentially
gain further operating efficiencies.  Fitch expects SNV's M&A
activity to be absorbed effectively, reasonable in size, in
geography and within the bank's core competencies.  To the extent
that Fitch observes SNV partaking in M&A activity that does not fit
these attributes and/or results in earnings and capital metrics
that are not commensurate with its rating level, Fitch could take
negative rating action.

Moreover, should wholesale funding revert back to the level it was
leading up to the 2007-2009 financial crisis, negative rating
action is likely.

Over the long-term, SNV could see upward rating movement given the
bank's solid franchise in its primary operating markets.
Improvement in SNV's ratings over the long term would be predicated
on the maintenance of sound risk appetite leading to asset quality
metrics more in-line with higher rated peers as well as earnings
performance (both by level and revenue mix) improving to above peer
averages.

SUBORDINATED DEBT AND OTHER HYBRID SECURITIES

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

LONG-AND-SHORT-TERM DEPOSIT RATINGS

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

HOLDING COMPANY

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

SUPPORT RATING AND SUPPORT RATING FLOOR

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

FULL LIST OF RATING ACTIONS

Fitch has upgraded these ratings:

Synovus Financial Corp.

   -- Long-term IDR to 'BBB-' from 'BB+'; Outlook Stable
   -- Short-term IDR to 'F3' from 'B';
   -- Viability Rating to 'bbb-' from 'bb+';
   -- Senior unsecured to 'BBB-' from 'BB+';
   -- Subordinated debt at to 'BB+' from 'BB'.

Synovus Bank

   -- Long-term IDR to 'BBB-' from 'BB+';
   -- Short-term IDR to 'F3' from 'B';
   -- Viability Rating to 'bbb-' from 'bb+';
   -- Long-term deposits to 'BBB' from 'BBB-'.

Fitch has affirmed these ratings:

Synovus Financial Corp.

   -- Preferred Stock at 'B';
   -- Support at '5';
   -- Support Floor at 'NF'.

Synovus Bank

   -- Support at '5';
   -- Support Floor at 'NF';
   -- Short-term deposits at 'F3'.



TELKONET INC: Posts $269,000 Net Income for Third Quarter
---------------------------------------------------------
Telkonet, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing net income of $269,000
on $4.05 million of total net revenue for the three months ended
Sept. 30, 2015, compared to net income of $383,000 on $4.08 million
of total net revenue for the same period a year ago.

For the nine months ended Sept. 30, 2015, the Company reported net
income of $48,900 on $11.4 million of total net revenue compared to
a net loss of $176,000 on $11.06 million of total net revenue for
the same period during the prior year.

As of Sept. 30, 2015, the Company had $11.5 million in total
assets, $5.35 million in total liabilities and $6.12 million in
total stockholders' equity.

Jason Tienor, Telkonet's CEO commented, "Our gross profit increased
21%, Adjusted EBITDA has nearly doubled growing 99%, and we are
profitable on a GAAP net income basis on moderate revenue growth
for the year to date period after recovering from a slow first
quarter.  A deliberate focus to increase product sales of our
EcoSmart energy management platform, which has higher gross margins
than our HSIA products, has contributed to continued improvement in
these profit metrics."

Mr. Tienor continued, "While we're pleased with our steadily
improving profit metrics, our goal is to grow top line revenue
faster and there have been a number of key indicators in the
quarter and during the year that demonstrate our commitment and
progress towards sales acceleration, which will result in further
multiplying our earnings results.  First, we've increased
investments in R&D to launch new products including the EcoTouch
next generation wireless thermostat.  Furthermore, we've augmented
our sales organization, adding a director of sales and marketing,
two channel account managers and an account executive for direct
sales.  Additionally, during the third quarter we partnered with
Deutsche Asset & Wealth Management to design, implement and fund
energy savings upgrades for commercial properties, focusing on
buildings 100,000 square feet or larger with annual utility bills
of $500,000 or more and offering a 100% savings guarantee, because
of the ROI EcoSmart can deliver.  Just last quarter, we partnered
with Samsung to release and deploy the fully integrated Smart
Hospitality Room, and with several large ESCO partners, to market
and promote our EcoSmart platform throughout their hospitality
sales channel.  Through these new product launches, new sales hires
and new partnerships, we are well positioned for sustainable,
rapid, profitable growth moving forward."

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

                       http://is.gd/klaho9

                          About Telkonet

Milwaukee, Wisconsin-based Telkonet, Inc., is a clean technology
company that develops and manufactures proprietary energy
efficiency and smart grid networking technology.

Telkonet reported a net loss attributable to common stockholders
of $95,400 in 2014 following a net loss attributable to common
stockholders of $4.9 million in 2013.

BDO USA, LLP, in Milwaukee, Wisconsin, 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 operations, a working capital deficiency, and an
accumulated deficit of $121,906,017 that raise substantial doubt
about its ability to continue as a going concern.


TERRAFORM GLOBAL: S&P Affirms 'B' CCR & Revises Outlook to Neg.
---------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B'
corporate credit rating and 'B+' senior secured issue rating on
Terraform Private LLC and S&P's 'B+' corporate credit rating, 'BB'
senior secured rating, and 'B+' senior unsecured rating on
Terraform Global Inc.  At the same time, S&P revised the outlooks
to negative.  All recovery ratings are unchanged on both
companies.

S&P revised the outlooks on Private and Global due to a downward
assessment of SunEdison's group credit profile.  SunEdison's key
credit measures and balance-sheet strength are below S&P's previous
expectations.  S&P views Global and Private as insulated
subsidiaries of SunEdison, so S&P has linked the ratings.  In S&P's
view, SunEdison has substantial control over both entities.
SunEdison owns a substantial portion of Global's common stock and
100% of the incentive distribution rights.  SunEdison also owns all
of Private's common stock and 100% of the common voting rights.

"At the same time, however, we believe the operating entities
benefit from various structural protections, allowing the ratings
to be higher than that of the parent company," said Standard &
Poor's credit analyst Nora Pickens.

Private's stand-alone credit profile remains 'b', reflecting S&P's
assessment of its "weak" business risk profile and "highly
leveraged" financial risk profile.  S&P bases its analysis on the
company's small size, exposure to wind resource volatility, and
pronounced asset concentration.  Private heavily depends on cash
flow from two projects--Canadian Hills Wind LLC and Meadow Creek
Power Co. LLC--which together account for about 90% of EBITDA.
These weaknesses are only partially offset by Private's cash flow
stability stemming from long–term, fee-based power purchase
agreements with highly rated counterparties.  Very high financial
leverage at the holding company, modest debt service coverage at
about 1.6x, and dependence on upstream dividends from assets with
structurally senior project-level debt also weigh on the rating.

"We assess Global's stand-alone credit profile remains 'b+',
reflecting our assessment of its "weak" business risk profile and
"significant" financial risk profile.  Global's creditworthiness
reflects its significant exposure to emerging market regulatory
risk in the renewable power markets, management's limited
experience operating in these jurisdictions, and an aggressive
growth profile that entails execution risk.  These weaknesses are
only partially offset by good geographic and operational diversity;
our expectation for stable cash flow generation from long-term,
fee-based offtake contracts; and a moderate level of debt at the
holding company.  Moderate dependence on upstream dividends from
assets with structurally senior project-level debt and the
"yieldco" structure, which gives management strong incentive to pay
out most available free cash flow to investors after maintenance
capital spending, also weighs on the rating," S&P said.

At the current rating level, Private's negative outlook reflects
S&P's view of SunEdison's group credit profile.  Apart from a
reassessment of that profile, S&P could lower the ratings on
Private if the company assumes significant merchant risk or wind
production and turbine performance are below S&P's expectations,
resulting in weak liquidity at the holding company level or EBITDA
to interest coverage below 1.25x for a sustained period.  S&P would
revise the outlook on Private to stable if SunEdison's credit
profile improves.

At the current ratings, Global's negative outlook stems from S&P's
view of SunEdison's group credit profile.  Apart from reassessing
the profile, S&P could lower the ratings on Global if underlying
businesses perform well below expectations, the company begins to
assume more significant merchant price risk, or if credit measures
weaken such that debt to EBITDA rises above 4.5x.  If SunEdison's
credit profile improves, S&P would revise the outlook on Global to
stable.



TRANS ENERGY: Terminates Michael Guzzetta as Treasurer
------------------------------------------------------
Michael R. Guzzetta was terminated as treasurer of Trans Energy,
Inc., a position he held since July 1, 2014, according to a Form
8-K report filed with the Securities and Exchange Commission.  Mr.
Guzzetta served as principal financial officer of the Company.

The Company is presently evaluating its options with respect to the
hiring of a chief financial officer.

                       About Trans Energy

St. Mary's, West Virginia-based Trans Energy, Inc. (OTC BB: TENG)
-- http://www.transenergyinc.com/-- is an independent energy
company engaged in the acquisition, exploration, development,
exploitation and production of oil and natural gas.  Its
operations are presently focused in the State of West Virginia.

Trans Energy reported a net loss of $12.5 million on $27.2 million
of total operating revenues for the year ended Dec. 31, 2014,
compared with a net loss of $17.7 million on $18.4 million of total
operating revenues for the year ended Dec. 31, 2013.

As of June 30, 2015, the Company had $103.39 million in total
assets, $126.92 million in total liabilities and a total
stockholders' deficit of $23.53 million.


TUNICA-BILOXI GAMING: S&P Withdraws 'D' Issuer Credit Rating
------------------------------------------------------------
Standard & Poor's Ratings Services said that it withdrew its
ratings, including the 'D' issuer credit rating, on Tunica-Biloxi
Gaming Authority (TBGA).

S&P lowered its ratings on TBGA to 'D' in May 2015 when the
Authority missed the May 15 interest payment on its 9% senior
unsecured notes.  TBGA did not repay the notes at maturity on
Nov. 15, 2015, and S&P believes the Authority remains in
restructuring discussions with its noteholders.



UNI-PIXEL INC: May Issue 800,000 Shares Under 2011 Stock Plan
-------------------------------------------------------------
Uni-Pixel, Inc., filed with the Securities and Exchange Commission
a Form S-8 registration statement for the purpose of registering an
additional 800,000 shares of common stock, par value $0.001 per
share, of the Company, issuable pursuant to the Uni-Pixel 2011
Stock Incentive Plan, as amended.  

Initial shares of the Plan were registered pursuant to that
Registration Statement on Form S-8, filed with the SEC on
Sept. 15, 2011, the contents of which are hereby incorporated by
reference.  Additional shares of the Plan were registered pursuant
to that Registration Statement on Form S-8, filed with the SEC on
May 10, 2013.

                       About Uni-Pixel Inc.

The Woodlands, Tex.-based Uni-Pixel, Inc. (OTC BB: UNXL)
-- http://www.unipixel.com/-- is a production stage company       

delivering its Clearly Superior(TM) Performance Engineered Films
to the Lighting & Display, Solar and Flexible Electronics market
segments.

Uni-Pixel incurred a net loss of $25.7 million in 2014, a net loss
of $15.2 million in 2013 and a net loss of $9.01 million in 2012.

As of Sept. 30, 2015, the Company had $26.0 million in total
assets, $10.9 million in total liabilities and $15.04 million in
total shareholders' equity.


VERMILLION INC: Incurs $5.14 Million Net Loss in Third Quarter
--------------------------------------------------------------
Vermillion, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $5.14
million on $330,000 of total revenue for the three months ended
Sept. 30, 2015, compared to a net loss of $5.59 million on $323,000
of total revenue for the same period in 2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $14.13 million on $1.81 million of total revenue
compared to a net loss of $15.13 million on $952,000 of total
revenue for the same period last year.

As of Sept. 30, 2015, the Company had $25.38 million in total
assets, $3.27 million in total liabilities and $22.11 million in
total stockholders' equity.

Valerie Palmieri, president and CEO of Vermillion, Inc., stated,
"The third quarter marked a number of accomplishments and we are on
track with our 2015 milestone plan.  The submission of our
second-generation OVA1 test, Overa, continues to progress with the
FDA.  On the commercial front in the US, we now have positive
medical policy with CareFirst Blue Cross/Blue Shield, ASPiRA Labs
new accounts grew, with 218 new accounts in Q3 versus 118 new
accounts in Q2, and specimen collection kits released increased by
26%, Q3 versus Q2.  Outside the US, we received the CE Mark for
Overa from the European Union, facilitating our planned entry into
international markets in 2016.  We believe these are key indicators
of growth and set the foundation for growth in 2016. Also, in terms
of a new area we are expanding in 2016, a Direct to Women campaign,
we emphasized wellness awareness with a well-received presentation
at the Achieving Optimal Health Conference (AOHC)."

As of Sept. 30, 2015, cash and equivalents totaled $24 million.
This includes the net proceeds of approximately $17.5 million from
Vermillion's July 2015 stock offering. Vermillion utilized $4.4
million in cash in the third quarter of 2015.

The Company believes that its working capital position as of the
date of the filing of this Quarterly Report on Form 10-Q will be
sufficient to meet the Company's working capital needs for at least
the next 12 months.

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

                       http://is.gd/lfPh7N

                         About Vermillion

Vermillion, Inc., is dedicated to the discovery, development and
commercialization of novel high-value diagnostic tests that help
physicians diagnose, treat and improve outcomes for patients.
Vermillion, along with its prestigious scientific collaborators,
has diagnostic programs in oncology, hematology, cardiology and
women's health.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 09-11091) on March 30, 2009.  Vermillion's legal
advisor in connection with its successful reorganization efforts
wass Paul, Hastings, Janofsky & Walker LLP.  Vermillion emerged
from bankruptcy in January 2010.  The Plan called for the Company
to pay all claims in full and equity holders to retain control of
the Company.

Vermillion reported a net loss of $19.2 million in 2014, a net loss
of $8.81 million in 2013 and a net loss of $7.14 million in 2012.


VERSO PAPER: May Sell 4 Mills Due to Drop in Coated Paper Demand
----------------------------------------------------------------
WSAU.com reports that Verso Corp. is considering selling four of
its mills because demand for coated paper has dropped sharply due
to foreign imports.

KDAL610.com relates that the mills that the Company is considering
to sell are the ones in: (i) Stevens Point, Wisconsin; (ii) Duluth,
Minnesota; (iii) Jay, Maine; and (iv) Wickliffe, Kentucky.  The
report adds that the Kentucky mill is already idle.  

Simon Thompson at Recorder Press says that it's unknown if the
potential sales would affect workers at the plant.

WSAU.com recalls that the Company acquired the Stevens Point and
Duluth mills when it purchased NewPage Holdings Inc. in January
2015.  According to Recorder Press, the Company reported a boost in
revenue with the NewPage acquisition.  

As reported by the Troubled Company Reporter on Nov. 17, 2015,
Patrick Fitzgerald, writing for Dow Jones' Daily Bankruptcy Review,
reported that the Company said it may be forced to file for Chapter
11 bankruptcy protection, saying in a Nov. 16, regulatory filing
that it hopes to raise funds through selling off assets but that
there is "substantial doubt" about the Company's ability to
continue as a going concern in the absence of a balance-sheet
restructuring.

Recorder Press quoted the Company as saying, "Our potential
restructuring could occur in a consensual, out of court manner or
through a court supervised Chapter 11 bankruptcy proceeding."

Recorder Press notes that in less than two years, five paper mills
have announced shutdown or worker layoffs.

                            About Verso

Verso is a North American producer of coated papers, including
coated groundwood and coated freesheet, and specialty products.
Verso is headquartered in Memphis, Tennessee, and owns three paper
mills located in Maine and Michigan.  Verso's paper products are
used primarily in media and marketing applications, including
magazines, catalogs and commercial printing applications such as
high-end advertising brochures, annual reports and direct-mail
advertising.  Additional information about Verso is available on
its Web site at http://www.versopaper.com/

Verso Paper reported a net loss of $356 million on $1.29 billion
of net sales for the year ended Dec. 31, 2014, compared with a net
loss of $111 million on $1.38 billion of net sales in 2013.

                       *     *     *

The Troubled Company Reporter, on Aug. 25, 2015, reported that
Moody's Investors Service says Verso Paper Holdings LLC's (B3,
stable) announcement that it will shut down a pulp dryer and coated
paper machine and indefinitely idle a paper mill will further
strain the company's already weak liquidity position and adds
further uncertainty in the company's ability to achieve its synergy
target.  However, the optimization of the remaining capacity at the
Company's Androscoggin mill in Maine should led to a reduction in
costs with the elimination of fixed charges and high cost peak
power consumption.

As reported by the TCR on July 3, 2015, Standard & Poor's Ratings
Services said it raised its corporate credit rating on Verso Paper
Holdings LLC and its parent Verso Paper Finance Holdings LLC to
'B-' from 'SD'.

The TCR reported on Jan. 16, 2015, that Moody's Investors Service
upgraded Verso Paper Holdings LLC's corporate family rating (CFR)
to B3 from Caa3 and changed the probability of default rating
(PDR) to B3-PD/LD from Caa3-PD.  Verso's B3 CFR primarily reflects
Moody's expectation that initial proforma leverage of about 9
times can be brought down to mid-6 times through synergy cost
savings and cost improvements following the acquisition of NewPage,
despite a continuing structural decline in demand for coated paper.


VICTORY ENERGY: Signs LOI to Acquire Proved Producing Reserves
--------------------------------------------------------------
Victory Energy Corporation announced it has entered into a letter
of intent to acquire 181 net barrels of oil equivalent per day. The
Company expects the acquisition to result in ~77.1% - 88.6% working
interest in three producing wells and ~38.6% - 44.3% working
interest in 1,370 net acres that are currently held by production.
Upon closing, this acquisition is expected to increase total PV-10
proved producing reserves for Victory to more than $10 million.

Transaction Highlights include:

* PV-10 increase of $8.6 million (based on Q3 2015 Macquarie
   Tristone Energy Lender Price Survey for WTI oil and Henry Hub
   gas; a supporting third party report has been initiated)

* Production of 181 BOEPD from 3 existing wellbores

* 1,370 net acres currently held by production containing 4
   additional proved undeveloped locations

* Production from the Woodbine formation with future development
   opportunities in the Lower Eaglebine, Georgetown, Edwards and
   Glen Rose (Buda-Rose) formations.

* Both vertical and horizontal drilling opportunities exist

* Drilling and development of the first PUD locations are
   anticipated to begin late 2016

* LOI includes an option for the company to acquire up to a 50%
   proportionally reduced working interest in acreage acquisitions

   within a defined AMI.

* The company will maintain exclusivity with the seller through
   the term of the LOI

"With a successful completion of this transaction, Victory would
grow daily consolidated production from 50 to ~230 BOEPD, a
substantial growth which we feel comes at a very favorable value,"
stated Kenny Hill, Victory's CEO.  "Additionally, we expect that
our PV-10 reserves value would increase to over $10 million based
upon today's prices and provide a significant increase to cash
flow, supporting our continued pursuit of accretive acquisitions
made available by the current commodity price environment.  This
transaction marks the first of several opportunities that we expect
to pursue in the coming year.  We look forward to continuing to
leverage this generational pricing opportunity into growth pull
forward and increased scale."

The purchase price for the acquired interest is expected to be
~$7.8 million, of which ~$6.9 million is to be paid in cash,
subject to customary adjustments.  The remaining ~$900,000 of the
purchase price is to be paid in shares of Victory common stock.

The consummation of the acquisition is subject to the completion of
a due diligence review of the properties, including a review of
record title, and the negotiation and entry into definitive
acquisition agreements.  The acquisition is additionally subject to
approval from certain third parties, Navitus Energy Group,
Victory's other banking and financial relationships and approval
and execution by Victory and the seller of definitive
documentation.

                       About Victory Energy

Austin, Texas-based Victory Energy Corporation is engaged in the
exploration, acquisition, development and exploitation of domestic
oil and gas properties.  Current operations are primarily located
onshore in Texas, New Mexico and Oklahoma.

Victory Energy reported a net loss of $4.22 million in 2014
following a net loss of $2.11 million in 2013.

As of Sept. 30, 2015, the Company had $1.89 million in total
assets, $4.13 million in total liabilities, and a $2.24 million
total stockholders' deficit.

Weaver and Tidwell, L.L.P., in Houston, Texas, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has
experienced recurring losses since its inception and has an
accumulated deficit, which raise substantial doubt regarding the
Company's ability to continue as a going concern.


VUZIX CORP: Reports $2.81 Million Net Loss for Third Quarter
------------------------------------------------------------
Vuzix Corporation filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss
attributable to common stockholders of $2.81 million on $970,379 of
total sales for the three months ended Sept. 30, 2015, compared to
a net loss attributable to common stockholders of $3.30 million on
$664,586 of total sales for the same period during the prior year.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss attributable to common stockholders of $11.04 million on
$2.20 million of total sales compared to a net loss attributable to
common stockholders of $1.55 million on $2.18 million of total
sales for the same period a year ago.

As of Sept. 30, 2015, the Company had $22.13 million in total
assets, $2.74 million in total liabilities and $19.38 million in
total stockholders' equity.

The Company had cash and cash equivalents of $16,072,222 as of
Sept. 30, 2015, an increase of $15,987,255 from $84,967 as of  Dec.
31, 2014.

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

                       http://is.gd/usgeqj

                     About Vuzix Corporation

Vuzix -- http://www.vuzix.com/-- is a supplier of Video Eyewear
products in the consumer, commercial and entertainment markets.
The Company's products, personal display devices that offer users
a portable high quality viewing experience, provide solutions for
mobility, wearable displays and virtual and augmented reality.
Vuzix holds 33 patents and 15 additional patents pending and
numerous IP licenses in the Video Eyewear field.  Founded in 1997,
Vuzix is a public company with offices in Rochester, NY, Oxford,
UK and Tokyo, Japan.

The net loss for the year 2014 was $7.87 million versus a net loss
of $10.1 million in 2013.


WAFERGEN BIO-SYSTEMS: Incurs $3.47-Mil. Net Loss in Third Quarter
-----------------------------------------------------------------
WaferGen Bio-systems, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $3.47 million on $2.01 million of total revenue for the three
months ended Sept. 30, 2015, compared to a net loss of $2.78
million on $1.25 million of total revenue for the same period in
2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $12.1 million on $4.76 million of total revenue
compared to a net loss of $7.43 million on $4.38 million of total
revenue for the same period a year ago.

As of Sept. 30, 2015, the Company had $10.65 million in total
assets, $7.66 million in total liabilities and $2.99 million in
total stockholders' equity.

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


                         http://is.gd/mmYI58

                     About WaferGen Bio-systems

Fremont, California-based WaferGen Bio-systems, Inc., engages in
the development of systems for gene expression quantification,
genotyping and stem cell research.  Since 2008, the Company's
primary focus has been on the development, manufacture and
marketing of its SmartChip System, a genetic analysis platform
used for profiling and validating molecular biomarkers in the life
sciences and pharmaceutical drug discovery industries.

WaferGen Bio-systems reported a net loss of $10.7 million in 2014,
a net loss of $16.3 million in 2013 and a net loss of $8.97
million in 2012.


WHISKEY ONE: Members Seek Appointment of Chapter 11 Trustee
-----------------------------------------------------------
Richard E. Polm, a member who has a 37.5% interest in Whiskey One
Eight, LLC; and Polm Development Limited Partnership, ask the U.S.
Bankruptcy Court for the District of Maryland to appoint a Chapter
11 trustee for the Debtor.

According to the movants, cause exists because the Debtor and the
Debtor's manager have numerous, irreconcilable conflicts of
interests.

The movants are represented by Robert B. Scarlett, Andrew M. Croll,
and Scarlett, Croll & Myers, P.A.

                       About Whiskey One

Whiskey One Eight, LLC filed a Chapter 11 bankruptcy petition
(Bankr. D. Md. Case No. 15-19885) on July 15, 2015.  Andrew Zois
signed the petition as managing member.  The Debtor disclosed
total assets of $18,008,600 and total liabilities of $5,100,057 as
of the Chapter 11 filing.

Lawrence Joseph Yumkas, Esq., at Yumkas, Vedmar & Sweeney, LLC as
the Debtor's counsel.  Judge David E. Rice presides over the case.


WHISKEY ONE: Opposes Bid for Declaration of "SARE" Status
---------------------------------------------------------
Whiskey One Eight, LLC, opposes FAIRMD, LLC's motion for entry of
an order of determination of single asset real estate status.

The Debtor explains that it operates two businesses on its real
property -- a real estate development business and landlord to an
airport tenant.  Additionally, the Debtor expects to earn income
from litigation claims besides income from its property.  Finally,
the Debtor's real estate business is not incidental to its airport
business.

As previously reported by The Troubled Company Reporter, FAIRMD
asked the U.S. Bankruptcy Court for the District of Maryland to
declare that the real property owned by Whiskey One constitutes a
"single asset real estate" and that the real property is subject to
the provisions of Section 362(d)(3) of the Bankruptcy Code.

The Debtor's property consists of a 50.94 acre parcel of real
property commonly known as 520 Brock Bridge Road, in Laurel,
Maryland.  It is currently being leased to Red Plane Aviation,
Inc., which operates a small airport on the Property.  Red Plane
pays rent to the Debtor, which is the Debtor's only income.

Lisa Bittle Tancredi, Esq., at Gebhardt & Smith LLP, in Baltimore,
Maryland, asserts that the Debtor's real property bears the
hallmarks of single asset real estate.  Ms. Tancredi relates that
the Debtor owns approximately 51 contiguous acres of land
purchased
for the purpose of residential development.  Ms. Tancredi further
relates that currently, the only income generated by the property
is derived from a lease with nominal rent.  She contends that the
Debtor conducts no substantial business on the property other than
as a landlord and that to the extent that the Debtor is attempting
to develop the property, such attempts are activities "incidental"
to the business of operating the real property.  Ms. Tancredi
asserts that the Court should designate the Debtor's property as
SARE so that the Debtor is subject to the provisions of Section
362(d)(3).

                       About Whiskey One

Whiskey One Eight, LLC filed a Chapter 11 bankruptcy petition
(Bankr. D. Md. Case No. 15-19885) on July 15, 2015.  Andrew Zois
signed the petition as managing member.  The Debtor disclosed
total assets of $18,008,600 and total liabilities of $5,100,057 as
of the Chapter 11 filing.

Lawrence Joseph Yumkas, Esq., at Yumkas, Vedmar & Sweeney, LLC as
the Debtor's counsel.  Judge David E. Rice presides over the case.


WHISKEY ONE: Taps Thomas A. Weigand to Appraise Property
--------------------------------------------------------
Whiskey One Eight, LLC, asks the U.S. Bankruptcy Court for the
District of Maryland for permission to employ Thomas A. Weigand of
Treffer Appraisal Group as appraiser.

According to the Debtor, Mr. Weigand has already appraised its
property in connection with litigation that has now been removed
and is pending in the bankruptcy case.

Mr. Weigand will estimate the present and future value of the
Debtor's real property 520 Brock Bridge Road and, if necessary, to
determine the market value and the highest and best use of the
subject property in conformity with applicable standards,
methodologies, and techniques employed by certified general real
estate appraisers.

The Debtor also requests that any claim by Mr. Weigand for
compensation be treated as an administrative expense of the estate
for his services provided postpetition at a fee of $275 per hour
for preparation and deposition time and $275 per hour for trial
testimony and court appearance.

The prepetition balance of $9,900 owed by the Debtor to Mr. Weigand
has been waived.  Andrew Zois has agreed to pay this prepetition
balance of $9,900 personally.

To the best of the Debtor's knowledge, Mr. Weigand nor TAG hold or
represent any interest adverse to the Debtor or the estate in the
matters upon which they are engaged.

                       About Whiskey One

Whiskey One Eight, LLC filed a Chapter 11 bankruptcy petition
(Bankr. D. Md. Case No. 15-19885) on July 15, 2015.  Andrew Zois
signed the petition as managing member.  The Debtor disclosed total
assets of $18,008,600 and total liabilities of $5,100,057 as of the
Chapter 11 filing.

Lawrence Joseph Yumkas, Esq., at Yumkas, Vedmar & Sweeney, LLC as
the Debtor's counsel.  Judge David E. Rice presides over the case.


WHISKEY ONE: Wants Until Feb. 10 to Propose Chapter 11 Plan
-----------------------------------------------------------
Whiskey One Eight, LLC, asks the U.S. Bankruptcy Court for the
District of Maryland to extend its exclusive periods to file plan
of reorganization until Feb. 10, 2016, and solicit acceptances for
that plan until April 10.

The Debtor explains that it needed additional time to obtain
debtor-in-possession financing to fund its development and
bankruptcy expenses and effectively reorganize.

                       About Whiskey One

Whiskey One Eight, LLC filed a Chapter 11 bankruptcy petition
(Bankr. D. Md. Case No. 15-19885) on July 15, 2015.  Andrew Zois
signed the petition as managing member.  The Debtor disclosed
total assets of $18,008,600 and total liabilities of $5,100,057 as
of the Chapter 11 filing.

Lawrence Joseph Yumkas, Esq., at Yumkas, Vedmar & Sweeney, LLC as
the Debtor's counsel.  Judge David E. Rice presides over the case.


ZERGA PHIN-KER: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Zerga Phin-Ker LP
        1500 S. Central Expressway, Suite 500
        McKinney, TX 75070

Case No.: 15-42087

Chapter 11 Petition Date: November 20, 2015

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Judge: Hon. Brenda T. Rhoades

Debtor's Counsel: Vickie L. Driver, Esq.
                  Emily S. Chou, Esq.
                  LEWIS BRISBOIS BISGAARD & SMITH LLP
                  2100 Ross Avenue, Suite 2000
                  Dallas, TX 75201
                  Tel: 214.722.7123
                  Fax: 214.722.7111
                  Email: Vickie.driver@lewisbrisbois.com
                         emily.chou@lewisbrisbois.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Jerry Green, co-president.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Alliance Bus Group, Inc.                Vendor         $60,756

IPFS Corporation                        Vendor         $31,434

HPA Design Group, Inc.                  Vendor         $22,133

Inline Network Integration, LLC         Vendor         $12,532

P3 Consulting                           Vendor         $12,000

Century Lawn Care                       Vendor          $5,633

HIIG Service Company                    Vendor          $3,402

Saddock & Co. PLLC                      Vendor          $3,045

RealPage                                Vendor          $2,419

AWA Architects                        Architect         $2,377
                                       Services

Johnson Southwest Thurston, Owens       Vendor          $2,165
& Newman, LLC

Network Communications Telecom         Telephone        $1,803
                                        Services

KZQX-KDOK Radio                         Vendor          $1,800

Dalton Kaye                             Vendor          $1,500

James M. Parkey, AIA                    Vendor          $1,500

Longview News Journal                   Vendor          $1,120

Xerox Corporation                       Vendor            $662

EcolabPest Elim Div                     Vendor             $497

Aero Photo                              Vendor             $254

Longview Museum of Fine Arts            Vendor             $250


ZLOOP INC: Creditor Balks at Approval of Cash Collateral Access
---------------------------------------------------------------
Kendall G. Mosing, the largest creditor in the Chapter 11 cases of
Zloop, Inc., et al., filed a preliminary objection and reservation
of rights regarding the motion for the use of cash collateral.

Mr. Mosing complained that the cash collateral motion (i) is
nothing more than a thinly veiled attempt to seek a declaratory
judgment -- without first commencing an adversary proceeding --
that also ignores the complex litigation that is pending in another
court regarding similar and related topics; (ii) seeks to abrogate
or prejudice Mr. Mosing's rights to assert, in connection with any
sale of the Debtors' assets, that he has a security interest in the
assets being sold and the proceeds of any such sale and that any
such proceeds should be escrowed pending a determination as to the
extent of such interest.

As reported by the Troubled Company Reporter on Sept. 1, 2015, the
Debtors received an interim order authorizing the use of cash
collateral.

Stuart M. Brown, Esq., at DLA Piper LLP (US), explains that ZLOOP
never executed or delivered to either Kendall Garrett Mosing or E
Recycling Systems, LLC ("ERS") a grant of a security interest.
Neither Mosing nor ERS is party to an account control agreement
with ZLOOP and One Community Bank respecting Debtors' Bank
Accounts.  Accordingly, neither Mosing nor ERS holds a security
interest in any of the Debtors' property, and even if such a
security interest does exist, neither Mosing's nor ERS's alleged
security interest is perfected.

Out of an abundance of caution, however, the Debtors are seeking
authorization to use Cash Collateral, to the extent Mosing or ERS
asserts a secured interest in the Debtors' Cash Collateral, to
ensure there are no unnecessary interruptions to the Debtors'
operations that would cause immediate and irreparable harm to the
Debtors and their entities.

Mr. Brown asserts that because neither Mosing nor ERS holds a
valid, enforceable, perfected and unavoidable security interest in
the Debtor's cash collateral, neither is entitled to adequate
protection.

                         About ZLOOP, Inc.

ZLOOP, Inc., and two affiliates sought Chapter 11 protection
(Bankr. D. Del.) on Aug. 9, 2015.  The Court on Aug. 11, 2015,
granted the joint administration of the Debtors' Chapter 11 cases,
with the docket to be maintained at the docket for ZLOOP, Case No.
15-11660.

ZLOOP operates a proprietary, state of the art, 100% landfill free
eWaste recycling company headquartered in Hickory, North Carolina.

The Debtors tapped DLA Piper LLP as counsel.

As of the Petition Date, the Debtors' unaudited consolidated
balance sheet reflect total assets of approximately $25 million,
including the land and improvements, but excluding certain
commodity inventories that are the output of eWaste recycling, and
total liabilities of approximately $32 million.

On Sept. 2, 2015, the U.S. trustee overseeing the Debtors' Chapter
11 cases appointed Recycling Equipment Inc., E Recycling Systems
LLC and Carolina Metals Group to serve on the official committee
of
unsecured creditors.  The committee is represented by Cole Schotz
P.C.


ZOHAR CDO 2003-1: Involuntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor-affiliates subject to separate involuntary Chapter 11
petitions:

  Alleged Debtor                          Case No.
  --------------                          --------
  Zohar CDO 2003-1, Corp.                 15-23681
  c/o The Corporation Trust Company
  1209 Orange Street
  Wilmington, DE 19801  

  Zohar CDO 2003-1, Limited               15-23680

  Zohar CDO 2003-1, LLC                   15-23682   

Involuntary Chapter 11 Petition Date: November 22, 2015

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

Judge: Hon. Robert D. Drain

Petitioner's Counsel: Jay M. Goffman, Esq.
                      Mark A. McDermott, Esq.
                      Shana A. Elberg, Esq.
                      Christine A. Okike, Esq.
                      SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
                      Four Time Square
                      New York, NY 10036
                      Tel: (212) 735-3000
                      Fax: (212) 735-2000
                      Email: JGoffman@skadden.com
                             mark.mcdermott@skadden.com
                             shana.elberg@skadden.com
                             christine.okike@skadden.com

   Petitioner                  Nature of Claim  Claim Amount
   ----------                  ---------------  ------------
Patriarch Partners XV, LLC        Notes         $286,446,141
One Broadway, 5th Floor
New York, NY 10004
United States


ZOHAR CDO 2003: Patriarch Files Involuntary Chapter 11 Petition
---------------------------------------------------------------
Patriarch Partners, LLC on Nov. 22 disclosed that it has filed,
through one of its affiliates, an involuntary Chapter 11 petition
for Zohar CDO 2003-1, Limited.  Patriarch is Zohar I's largest
creditor, holding $286.5 million face amount of Zohar I notes.
Patriarch has placed Zohar I into Chapter 11 in order to protect
Zohar I and Patriarch from the efforts of MBIA Inc. and MBIA
Insurance Corporation, another creditor of Zohar I, to obtain Zohar
I's assets for itself.  By filing the Chapter 11 case, Zohar I has
obtained certain protection under the U.S. Bankruptcy Code.

The filing will have no effect on the operations of the portfolio
companies whose loans are held by Zohar I.  This filing does not
trigger any defaults on portfolio company loans.  Moreover, neither
Zohar II 2005-1, Limited, nor Zohar III, Limited, two additional
investment funds managed by Patriarch and certain of its
affiliates, are part of the filing.  They will not be subject to
any cross-defaults.

Lynn Tilton, Chief Executive Officer of Patriarch said, "We did not
make this decision to file Zohar I for Chapter 11 protection
lightly and have done so only after numerous good faith attempts to
accomplish a fair and transparent restructuring of Zohar I with
MBIA outside of court.  We believe the Chapter 11 process now
presents the best way for Zohar I to restructure its finances while
preserving the value of the portfolio companies it owns on behalf
of its key stakeholders."

Patriarch's business model is to invest, through managed investment
funds, in loans issued to deeply distressed companies and to seek
to turn those companies around.  Zohar I is structured as a
collateralized loan obligation and has issued notes to investors
and made loans to the portfolio companies with the proceeds of the
notes.  Patriarch affiliates hold substantial equity stakes in many
of these portfolio companies, which include iconic American
manufacturing companies with tens of thousands of employees.
Certain affiliates are also lenders to the Zohar I portfolio
companies.

Following the financial crisis of 2008, Patriarch recognized that
Zohar I would require time beyond its stated maturity date of
November 20, 2015, to create value and to pay off the notes.  In
light of this -- and as outlined in a lawsuit filed by Patriarch on
November 2, 2015 -- Patriarch initiated discussions with MBIA, a
monoline insurer that insured approximately $150 million in Zohar I
notes, regarding an extension of the maturity date of Zohar I and
an associated global restructuring of the Zohar funds. For over
three years, Patriarch worked tirelessly and in good faith to
achieve a plan for restructuring the Zohar funds that would be in
the best interests of all constituencies, including MBIA and the
Zohar noteholders.

As part of these efforts, and as set forth in more detail in the
November lawsuit, Patriarch spent more than $100 million to buy out
a third-party noteholder in Zohar I that MBIA had indicated was an
"impediment" to an extension of Zohar I and a global restructuring
of the Zohar funds.  Yet, even after Patriarch removed this
"impediment," MBIA refused to consent to an extension of Zohar I --
which would have paved the way for a restructuring.

Tilton continued: "Our decision to file Zohar I for bankruptcy and
to seek court approval for a plan of reorganization that will pay
MBIA in full, while maximizing value for Patriarch, only emerged
when it became clear that MBIA had acted in bad faith throughout
our discussions.  A Chapter 11 filing is now the only course of
action available that allows us to continue our efforts to turn
around and build value at the portfolio companies, preserve their
value on behalf of all of our stakeholders and protect the jobs of
the tens of thousands of our portfolio companies' employees."

Patriarch's restructuring counsel is Skadden, Arps, Slate, Meagher
& Flom LLP and its financial advisor is Moelis & Co.  The Chapter
11 petition was filed in the U.S. Bankruptcy Court for the Southern
District of New York.

                     About Patriarch Partners

Patriarch Partners, LLC, together with certain of its affiliated
entities -- http://www.patriarchpartners.com-- is an investment
firm and holding company dedicated to saving American manufacturing
jobs and American companies.  Founded by Wall Street veteran Lynn
Tilton in 2000, Patriarch, through affiliated investments funds,
has had ownership in and restructured more than 240 companies with
combined revenues in excess of $100 billion, representing more than
675,000 jobs.  Tilton's platform is the largest woman-owned
business in the country, managing 74 companies, including
investments in Dura Automotive, Stila Cosmetics, Rand McNally,
Spiegel Catalogs and MD Helicopters.


[*] 2015 North American Exploration & Production Ch.11 Filings Rise
-------------------------------------------------------------------
Lawyers in the Haynes and Boone, LLP Bankruptcy and Energy
practices have released their first Oil Patch Bankruptcy Monitor,
which details a rising tide of 2015 exploration and production
company Chapter 11 filings totaling about $13 billion in cumulative
secured and unsecured debt.

The report contains a list of North American E&P filings, breaking
them down by filing location and by amount of secured and unsecured
debt by location.  Texas leads North America in all filings with
16, while Delaware has been the venue with most bankruptcy filings
by amount of debt with a total of $7.9 billion

"So far this year, our firm has been engaged in more than three
dozen energy industry out-of-court workouts or Chapter 11
bankruptcy cases," said Ian Peck, chair of the firm's Bankruptcy
and Business Restructuring Section.  "We expect our involvement
will continue to expand as we advise clients in connection with
additional energy restructuring matters that arise throughout the
end of the year and into 2016."

Added Buddy Clark, head of the Haynes and Boone Energy Practice
Group: "Even though we have one of the largest restructuring
practices in the U.S. with more than 30 bankruptcy lawyers overall,
including 12 in Houston, we are expecting to increase these numbers
by drawing from the firm's lawyers in other sections affected by
the downturn, especially our energy and finance practice groups.
Activity is ramping up rapidly."

With the slump in commodity prices persisting into this fall,
lawyers are closely following recent industry developments.  Dozens
of North American oil and gas producers have commenced Chapter 11
bankruptcy cases this year, including most recently, Escalara
Resources Co., RAAM Global Energy Company, and Miller Energy
Resources, Inc.  Haynes and Boone plans on periodically updating
the Monitor to help industry participants and clients keep pace
with the dynamic changes in the energy industry.

The release of the Monitor comes on the heels of the firm's highly
cited spring and fall Borrowing Base Redeterminations Survey.  The
fall edition of the survey showed that, as a result of slumping oil
prices, key players in oil and gas financing were predicting a
decrease in the ability to borrow against reserves by an average of
39 percent.  Another survey will be released in mid-January in
advance of next spring's redetermination season.

                      About Haynes and Boone

Haynes and Boone, LLP is an international corporate law firm with
offices in Texas, New York, California, Chicago, Denver,
Washington, D.C., Mexico City and Shanghai, providing a full
spectrum of legal services in technology, financial services,
energy and private equity.  With more than 550 attorneys, Haynes
and Boone is ranked among the largest law firms in the nation by
The National Law Journal.  The firm was named the 2015 Best
National Firm for Diversity in North America in the Americas Women
in Business Law Awards.


[*] Two Former Irell & Manella Partners Join Weiland Golden
-----------------------------------------------------------
Daniel Langhorne at Bankruptcy Law360 reported that Weiland Golden
LLP has shored up its bankruptcy boutique by adding two former
Irell & Manella LLP partners to its letterhead, a move the firm
believes will position it as leading bankruptcy practice in Orange
County, California.

New partners William N. Lobel and Alan J. Friedman not only bring
decades of bankruptcy experience to the firm but also will
contribute to the real estate and litigation practices at the
renamed Lobel Weiland Golden Friedman LLP.


[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------
                                                Total
                                               Share-      Total
                                    Total    Holders'    Working
                                   Assets      Equity    Capital
  Company          Ticker            ($MM)       ($MM)      ($MM)
  -------          ------          ------    --------    -------
ABSOLUTE SOFTWRE   OU1 GR           149.9       (13.1)      (8.1)
ABSOLUTE SOFTWRE   ALSWF US         149.9       (13.1)      (8.1)
ABSOLUTE SOFTWRE   ABT CN           149.9       (13.1)      (8.1)
ADV MICRO DEVICE   AMD* MM        3,229.0      (336.0)   1,017.0
ADVENT SOFTWARE    ADVS US          424.8       (50.1)    (110.8)
AEROJET ROCKETDY   AJRD US        1,957.4      (107.2)      96.3
AEROJET ROCKETDY   GCY GR         1,957.4      (107.2)      96.3
AIR CANADA         AC CN         12,755.0       (51.0)     531.0
AIR CANADA         ACEUR EU      12,755.0       (51.0)     531.0
AIR CANADA         ADH2 TH       12,755.0       (51.0)     531.0
AIR CANADA         ADH2 GR       12,755.0       (51.0)     531.0
AIR CANADA         ACDVF US      12,755.0       (51.0)     531.0
AK STEEL HLDG      AKS* MM        4,250.3      (484.7)     792.0
AMER RESTAUR-LP    ICTPU US          33.5        (4.0)      (6.2)
AMYLIN PHARMACEU   AMLN US        1,998.7       (42.4)     263.0
ANGIE'S LIST INC   ANGI US          173.2       (19.8)     (33.1)
ANGIE'S LIST INC   8AL TH           173.2       (19.8)     (33.1)
ANGIE'S LIST INC   8AL GR           173.2       (19.8)     (33.1)
ARCH COAL INC      ACI* MM        5,848.0      (605.4)     824.1
ARIAD PHARM        APS TH           576.1       (49.7)     213.9
ARIAD PHARM        ARIAEUR EU       576.1       (49.7)     213.9
ARIAD PHARM        APS GR           576.1       (49.7)     213.9
ARIAD PHARM        ARIA US          576.1       (49.7)     213.9
ARIAD PHARM        ARIA SW          576.1       (49.7)     213.9
ARIAD PHARM        ARIACHF EU       576.1       (49.7)     213.9
ASPEN TECHNOLOGY   AZPN US          266.8       (63.0)     (44.1)
ASPEN TECHNOLOGY   AST GR           266.8       (63.0)     (44.1)
AUTOZONE INC       AZ5 GR         8,102.3    (1,701.4)    (742.6)
AUTOZONE INC       AZOEUR EU      8,102.3    (1,701.4)    (742.6)
AUTOZONE INC       AZ5 QT         8,102.3    (1,701.4)    (742.6)
AUTOZONE INC       AZO US         8,102.3    (1,701.4)    (742.6)
AUTOZONE INC       AZ5 TH         8,102.3    (1,701.4)    (742.6)
AVID TECHNOLOGY    AVID US          276.2      (338.1)    (147.2)
AVID TECHNOLOGY    AVD GR           276.2      (338.1)    (147.2)
AVINTIV SPECIALT   POLGA US       1,991.4        (3.9)     322.1
AVON - BDR         AVON34 BZ      3,774.7      (768.4)     660.1
AVON PRODUCTS      AVP* MM        3,774.7      (768.4)     660.1
AVON PRODUCTS      AVP QT         3,774.7      (768.4)     660.1
AVON PRODUCTS      AVP CI         3,774.7      (768.4)     660.1
BARRACUDA NETWOR   7BM GR           421.3       (26.4)      42.0
BARRACUDA NETWOR   CUDA US          421.3       (26.4)      42.0
BARRACUDA NETWOR   CUDAEUR EU       421.3       (26.4)      42.0
BENEFITFOCUS INC   BTF GR           172.4        (8.7)      28.3
BENEFITFOCUS INC   BNFT US          172.4        (8.7)      28.3
BERRY PLASTICS G   BP0 GR         5,028.0       (53.0)     715.0
BERRY PLASTICS G   BERY US        5,028.0       (53.0)     715.0
BLUE BIRD CORP     1291067D US      307.6      (133.8)       5.4
BLUE BIRD CORP     BLBD US          307.6      (133.8)       5.4
BLUE BUFFALO PET   BUFF US          459.5       (33.7)     258.1
BLUE BUFFALO PET   B6B TH           459.5       (33.7)     258.1
BLUE BUFFALO PET   B6B GR           459.5       (33.7)     258.1
BOMBARDIER INC-B   BBDBN MM      23,863.0    (3,660.0)   1,076.0
BOMBARDIER-B OLD   BBDYB BB      23,863.0    (3,660.0)   1,076.0
BOMBARDIER-B W/I   BBD/W CN      23,863.0    (3,660.0)   1,076.0
BRINKER INTL       BKJ GR         1,549.3      (108.1)    (201.0)
BRINKER INTL       EAT US         1,549.3      (108.1)    (201.0)
BRP INC/CA-SUB V   DOO CN         2,223.5       (31.1)     255.8
BRP INC/CA-SUB V   BRPIF US       2,223.5       (31.1)     255.8
BRP INC/CA-SUB V   B15A GR        2,223.5       (31.1)     255.8
BURLINGTON STORE   BURL US        2,673.6       (40.6)     166.6
BURLINGTON STORE   BUI GR         2,673.6       (40.6)     166.6
BURLINGTON STORE   BURL* MM       2,673.6       (40.6)     166.6
CABLEVISION SY-A   CVCEUR EU      6,745.7    (4,957.7)      39.4
CABLEVISION SY-A   CVY TH         6,745.7    (4,957.7)      39.4
CABLEVISION SY-A   CVC US         6,745.7    (4,957.7)      39.4
CABLEVISION SY-A   CVY GR         6,745.7    (4,957.7)      39.4
CABLEVISION-W/I    CVC-W US       6,745.7    (4,957.7)      39.4
CABLEVISION-W/I    8441293Q US    6,745.7    (4,957.7)      39.4
CAMBIUM LEARNING   ABCD US          156.6       (75.1)     (16.2)
CASELLA WASTE      WA3 GR           660.7       (15.6)       4.9
CASELLA WASTE      CWST US          660.7       (15.6)       4.9
CENTENNIAL COMM    CYCL US        1,480.9      (925.9)     (52.1)
CHOICE HOTELS      CHH US           712.8      (400.6)     168.4
CHOICE HOTELS      CZH GR           712.8      (400.6)     168.4
CINCINNATI BELL    CIB GR         1,460.2      (323.3)     (38.6)
CINCINNATI BELL    CBB US         1,460.2      (323.3)     (38.6)
CLEAR CHANNEL-A    C7C GR         6,133.3      (297.8)     433.3
CLEAR CHANNEL-A    CCO US         6,133.3      (297.8)     433.3
CLIFFS NATURAL R   CLF* MM        2,271.5    (1,759.5)     406.0
COMMUNICATION      CSAL US        2,645.6      (969.3)       -
COMMUNICATION      8XC GR         2,645.6      (969.3)       -
CORIUM INTERNATI   CORI US           59.3        (5.4)      31.2
CYAN INC           YCN GR           112.1       (18.4)      56.9
CYAN INC           CYNI US          112.1       (18.4)      56.9
DELEK LOGISTICS    DKL US           361.8       (11.7)       8.2
DELEK LOGISTICS    D6L GR           361.8       (11.7)       8.2
DENNY'S CORP       DE8 GR           289.7        (7.5)     (18.3)
DENNY'S CORP       DENN US          289.7        (7.5)     (18.3)
DIRECTV            DTVEUR EU     25,321.0    (3,463.0)   1,360.0
DIRECTV            DTV US        25,321.0    (3,463.0)   1,360.0
DIRECTV            DTV CI        25,321.0    (3,463.0)   1,360.0
DOMINO'S PIZZA     EZV GR           603.2    (1,255.9)     125.1
DOMINO'S PIZZA     EZV TH           603.2    (1,255.9)     125.1
DOMINO'S PIZZA     DPZ US           603.2    (1,255.9)     125.1
DUN & BRADSTREET   DB5 GR         2,082.4    (1,146.5)     (96.6)
DUN & BRADSTREET   DNB1EUR EU     2,082.4    (1,146.5)     (96.6)
DUN & BRADSTREET   DNB US         2,082.4    (1,146.5)     (96.6)
DUNKIN' BRANDS G   2DB GR         3,348.1       (65.8)     285.7
DUNKIN' BRANDS G   DNKN US        3,348.1       (65.8)     285.7
DUNKIN' BRANDS G   2DB TH         3,348.1       (65.8)     285.7
DURATA THERAPEUT   DRTXEUR EU        82.1       (16.1)      11.7
DURATA THERAPEUT   DRTX US           82.1       (16.1)      11.7
DURATA THERAPEUT   DTA GR            82.1       (16.1)      11.7
EDGE THERAPEUTIC   EU5 GR            58.5       (50.6)      47.1
EDGE THERAPEUTIC   EDGE US           58.5       (50.6)      47.1
EDGEN GROUP INC    EDG US           883.8        (0.8)     409.2
ENERGIZER HOLDIN   ENR US         1,629.6       (60.1)     658.7
EOS PETRO INC      EOPT US            1.2       (25.4)     (26.6)
EPL OIL & GAS IN   EPA1 GR        1,496.3       (54.2)    (253.5)
EPL OIL & GAS IN   EPL US         1,496.3       (54.2)    (253.5)
EXELIXIS INC       EXEL US          363.2       (74.2)     151.4
EXELIXIS INC       EX9 TH           363.2       (74.2)     151.4
EXELIXIS INC       EX9 GR           363.2       (74.2)     151.4
EXELIXIS INC       EXELEUR EU       363.2       (74.2)     151.4
FREESCALE SEMICO   1FS QT         3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO   FSL US         3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO   FSLEUR EU      3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO   1FS GR         3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO   1FS TH         3,159.0    (3,079.0)   1,264.0
GAMING AND LEISU   2GL GR         2,516.1      (236.6)     (98.2)
GAMING AND LEISU   GLPI US        2,516.1      (236.6)     (98.2)
GARDA WRLD -CL A   GW CN          1,531.1      (362.2)      56.2
GARTNER INC        GGRA GR        2,091.5      (159.6)    (173.7)
GARTNER INC        IT US          2,091.5      (159.6)    (173.7)
GENESIS HEALTHCA   GEN US         6,121.4      (306.4)     223.8
GENESIS HEALTHCA   SH11 GR        6,121.4      (306.4)     223.8
GENTIVA HEALTH     GTIV US        1,225.2      (285.2)     130.0
GENTIVA HEALTH     GHT GR         1,225.2      (285.2)     130.0
GLG PARTNERS INC   GLG US           400.0      (285.6)     156.9
GLG PARTNERS-UTS   GLG/U US         400.0      (285.6)     156.9
GOLD RESERVE INC   GRZ CN            16.3       (28.8)     (39.0)
GRAHAM PACKAGING   GRM US         2,947.5      (520.8)     298.5
GYMBOREE CORP/TH   GYMB US        1,243.7      (378.0)      32.7
HCA HOLDINGS INC   2BH TH        31,896.0    (5,812.0)   2,908.0
HCA HOLDINGS INC   HCA US        31,896.0    (5,812.0)   2,908.0
HCA HOLDINGS INC   HCAEUR EU     31,896.0    (5,812.0)   2,908.0
HCA HOLDINGS INC   2BH GR        31,896.0    (5,812.0)   2,908.0
HD SUPPLY HOLDIN   HDS US         6,505.0      (393.0)   1,466.0
HD SUPPLY HOLDIN   5HD GR         6,505.0      (393.0)   1,466.0
HECKMANN CORP-U    HEK/U US         582.6        (4.9)      50.0
HERBALIFE LTD      HOO GR         2,421.5      (130.7)     461.6
HERBALIFE LTD      HLFEUR EU      2,421.5      (130.7)     461.6
HERBALIFE LTD      HLF US         2,421.5      (130.7)     461.6
HOVNANIAN-A-WI     HOV-W US       2,549.3      (151.5)   1,595.3
HUGHES TELEMATIC   HUTCU US         110.2      (101.6)    (113.8)
IDEXX LABS         IX1 GR         1,477.2       (38.8)       8.6
IDEXX LABS         IDXX US        1,477.2       (38.8)       8.6
IDEXX LABS         IX1 TH         1,477.2       (38.8)       8.6
IMMUNOMEDICS INC   IMMU US           91.8       (18.9)      76.7
INFOR US INC       LWSN US        6,778.1      (460.0)    (305.9)
INSTRUCTURE INC    INST US           64.2       (15.3)     (15.5)
INTERNATIONAL WI   ITWG US          345.4        (9.7)      99.8
INVENTIV HEALTH    VTIV US        2,154.4      (613.8)      84.5
IPCS INC           IPCS US          559.2       (33.0)      72.1
ISTA PHARMACEUTI   ISTA US          124.7       (64.8)       2.2
JUST ENERGY GROU   JE CN          1,281.8      (650.4)     (48.0)
JUST ENERGY GROU   JE US          1,281.8      (650.4)     (48.0)
JUST ENERGY GROU   1JE GR         1,281.8      (650.4)     (48.0)
KEMPHARM INC       KMPH US           61.4        (5.7)      52.8
KEMPHARM INC       1GD GR            61.4        (5.7)      52.8
L BRANDS INC       LTD TH         7,968.8      (656.9)   1,835.9
L BRANDS INC       LBEUR EU       7,968.8      (656.9)   1,835.9
L BRANDS INC       LTD GR         7,968.8      (656.9)   1,835.9
L BRANDS INC       LB US          7,968.8      (656.9)   1,835.9
L BRANDS INC       LB* MM         7,968.8      (656.9)   1,835.9
LEAP WIRELESS      LWI GR         4,662.9      (125.1)     346.9
LEAP WIRELESS      LEAP US        4,662.9      (125.1)     346.9
LEAP WIRELESS      LWI TH         4,662.9      (125.1)     346.9
LORILLARD INC      LLV TH         4,154.0    (2,134.0)   1,135.0
LORILLARD INC      LO US          4,154.0    (2,134.0)   1,135.0
LORILLARD INC      LLV GR         4,154.0    (2,134.0)   1,135.0
MADISON-A/NEW-WI   MSGN-W US        863.1    (1,246.3)      78.8
MAJESCOR RESOURC   MJXEUR EU          0.0        (0.1)      (0.1)
MALIBU BOATS-A     MBUU US          195.3        (8.5)       9.7
MALIBU BOATS-A     M05 GR           195.3        (8.5)       9.7
MANNKIND CORP      MNKD IT          278.0      (124.6)    (196.1)
MARRIOTT INTL-A    MAQ TH         6,153.0    (3,589.0)  (1,786.0)
MARRIOTT INTL-A    MAQ QT         6,153.0    (3,589.0)  (1,786.0)
MARRIOTT INTL-A    MAR US         6,153.0    (3,589.0)  (1,786.0)
MARRIOTT INTL-A    MAQ GR         6,153.0    (3,589.0)  (1,786.0)
MCBC HOLDINGS IN   MCFT US           89.7       (42.3)     (34.4)
MCBC HOLDINGS IN   1SG GR            89.7       (42.3)     (34.4)
MDC COMM-W/I       MDZ/W CN       1,617.2      (376.7)    (326.5)
MDC PARTNERS-A     MD7A GR        1,617.2      (376.7)    (326.5)
MDC PARTNERS-A     MDCA US        1,617.2      (376.7)    (326.5)
MDC PARTNERS-A     MDZ/A CN       1,617.2      (376.7)    (326.5)
MDC PARTNERS-EXC   MDZ/N CN       1,617.2      (376.7)    (326.5)
MERITOR INC        MTOR US        2,195.0      (646.0)     174.0
MERITOR INC        AID1 GR        2,195.0      (646.0)     174.0
MERRIMACK PHARMA   MACK US          102.7      (140.7)     (24.3)
MERRIMACK PHARMA   MP6 GR           102.7      (140.7)     (24.3)
MICHAELS COS INC   MIM GR         1,864.0    (1,992.6)     501.0
MICHAELS COS INC   MIK US         1,864.0    (1,992.6)     501.0
MIDSTATES PETROL   MPO1EUR EU     1,298.1      (816.0)      96.2
MONEYGRAM INTERN   MGI US         4,511.4      (244.2)     (27.1)
MOODY'S CORP       DUT QT         4,772.9      (240.2)   1,811.9
MOODY'S CORP       DUT TH         4,772.9      (240.2)   1,811.9
MOODY'S CORP       MCOEUR EU      4,772.9      (240.2)   1,811.9
MOODY'S CORP       DUT GR         4,772.9      (240.2)   1,811.9
MOODY'S CORP       MCO US         4,772.9      (240.2)   1,811.9
MOTOROLA SOLUTIO   MOT TE         8,086.0      (298.0)   2,758.0
MOTOROLA SOLUTIO   MTLA TH        8,086.0      (298.0)   2,758.0
MOTOROLA SOLUTIO   MTLA GR        8,086.0      (298.0)   2,758.0
MOTOROLA SOLUTIO   MSI US         8,086.0      (298.0)   2,758.0
MPG OFFICE TRUST   1052394D US    1,280.0      (437.3)       -
MSG NETWORKS- A    MSGN US          863.1    (1,246.3)      78.8
NATHANS FAMOUS     NFA GR            81.9       (61.6)      60.8
NATHANS FAMOUS     NATH US           81.9       (61.6)      60.8
NATIONAL CINEMED   NCMI US        1,006.2      (228.3)      65.4
NATIONAL CINEMED   XWM GR         1,006.2      (228.3)      65.4
NAVIDEA BIOPHARM   NAVB IT           22.2       (44.6)      13.9
NAVISTAR INTL      IHR TH         6,769.0    (4,809.0)     873.0
NAVISTAR INTL      IHR GR         6,769.0    (4,809.0)     873.0
NAVISTAR INTL      NAV US         6,769.0    (4,809.0)     873.0
NEFF CORP-CL A     NEFF US          668.9      (187.7)      10.4
NEW ENG RLTY-LP    NEN US           202.4       (30.1)       -
NORTHERN OIL AND   4LT GR         1,001.2       (28.3)      32.8
NORTHERN OIL AND   NOG US         1,001.2       (28.3)      32.8
NORTHWEST BIO      NBYA GR           64.2       (76.2)     (95.3)
NORTHWEST BIO      NWBO US           64.2       (76.2)     (95.3)
NTELOS HOLDINGS    NTLS US          668.4       (22.1)     150.8
OMEROS CORP        OMEREUR EU        41.4        (9.0)      17.2
OMEROS CORP        3O8 TH            41.4        (9.0)      17.2
OMEROS CORP        OMER US           41.4        (9.0)      17.2
OMEROS CORP        3O8 GR            41.4        (9.0)      17.2
OMTHERA PHARMACE   OMTH US           18.3        (8.5)     (12.0)
OUTERWALL INC      OUTR US        1,266.8        (2.1)      (7.0)
OUTERWALL INC      CS5 GR         1,266.8        (2.1)      (7.0)
PALM INC           PALM US        1,007.2        (6.2)     141.7
PBF LOGISTICS LP   11P GR           432.7      (191.5)      27.8
PBF LOGISTICS LP   PBFX US          432.7      (191.5)      27.8
PHILIP MORRIS IN   4I1 QT        32,011.0   (12,226.0)      10.0
PHILIP MORRIS IN   PMI1 IX       32,011.0   (12,226.0)      10.0
PHILIP MORRIS IN   PM US         32,011.0   (12,226.0)      10.0
PHILIP MORRIS IN   PM1CHF EU     32,011.0   (12,226.0)      10.0
PHILIP MORRIS IN   PMI EB        32,011.0   (12,226.0)      10.0
PHILIP MORRIS IN   PMI SW        32,011.0   (12,226.0)      10.0
PHILIP MORRIS IN   PM1 TE        32,011.0   (12,226.0)      10.0
PHILIP MORRIS IN   4I1 TH        32,011.0   (12,226.0)      10.0
PHILIP MORRIS IN   PM1EUR EU     32,011.0   (12,226.0)      10.0
PHILIP MORRIS IN   PM FP         32,011.0   (12,226.0)      10.0
PHILIP MORRIS IN   4I1 GR        32,011.0   (12,226.0)      10.0
PLANET FITNESS-A   PLNT US          701.1       (14.2)      (1.2)
PLANET FITNESS-A   3PL TH           701.1       (14.2)      (1.2)
PLANET FITNESS-A   3PL GR           701.1       (14.2)      (1.2)
PLAYBOY ENTERP-A   PLA/A US         165.8       (54.4)     (16.9)
PLAYBOY ENTERP-B   PLA US           165.8       (54.4)     (16.9)
PLY GEM HOLDINGS   PGEM US        1,311.1       (80.8)     264.6
PLY GEM HOLDINGS   PG6 GR         1,311.1       (80.8)     264.6
POLYMER GROUP-B    POLGB US       1,991.4        (3.9)     322.1
PROTALEX INC       PRTX US            1.1       (13.5)       0.6
PROTECTION ONE     PONE US          562.9       (61.8)      (7.6)
PUREBASE CORP      PUBC US            0.4        (1.1)      (1.4)
PURETECH HEALTH    PRTC LN            -           -          -
PURETECH HEALTH    PRTCL EB           -           -          -
PURETECH HEALTH    PRTCL PO           -           -          -
PURETECH HEALTH    PRTCGBX EU         -           -          -
PURETECH HEALTH    PRTCL IX           -           -          -
QUALITY DISTRIBU   QLTY US          413.0       (22.9)     102.9
QUALITY DISTRIBU   QDZ GR           413.0       (22.9)     102.9
QUINTILES TRANSN   Q US           4,033.7      (179.9)     996.2
QUINTILES TRANSN   QTS GR         4,033.7      (179.9)     996.2
RAYONIER ADV       RYQ GR         1,286.9       (17.0)     208.0
RAYONIER ADV       RYAM US        1,286.9       (17.0)     208.0
REGAL ENTERTAI-A   RGC US         2,409.1      (902.0)    (133.8)
REGAL ENTERTAI-A   RGC* MM        2,409.1      (902.0)    (133.8)
REGAL ENTERTAI-A   RETA GR        2,409.1      (902.0)    (133.8)
RENAISSANCE LEA    RLRN US           57.0       (28.2)     (31.4)
RENTECH NITROGEN   RNF US           328.0       (73.5)      43.7
RENTECH NITROGEN   2RN GR           328.0       (73.5)      43.7
RENTPATH LLC       PRM US           208.0       (91.7)       3.6
REVLON INC-A       REV US         1,924.5      (623.3)     334.4
REVLON INC-A       RVL1 GR        1,924.5      (623.3)     334.4
ROUNDY'S INC       4R1 GR         1,095.7       (92.7)      59.7
ROUNDY'S INC       RNDY US        1,095.7       (92.7)      59.7
RURAL/METRO CORP   RURL US          303.7       (92.1)      72.4
RYERSON HOLDING    7RY GR         1,793.9      (119.1)     620.3
SALLY BEAUTY HOL   S7V GR         2,094.4      (297.8)     695.4
SALLY BEAUTY HOL   SBH US         2,094.4      (297.8)     695.4
SANCHEZ ENERGY C   SN* MM         1,532.2      (473.6)     171.9
SANCHEZ ENERGY C   13S GR         1,532.2      (473.6)     171.9
SANCHEZ ENERGY C   SN US          1,532.2      (473.6)     171.9
SANCHEZ ENERGY C   13S TH         1,532.2      (473.6)     171.9
SBA COMM CORP-A    SBJ TH         7,396.8    (1,697.7)      46.6
SBA COMM CORP-A    SBAC US        7,396.8    (1,697.7)      46.6
SBA COMM CORP-A    SBACEUR EU     7,396.8    (1,697.7)      46.6
SBA COMM CORP-A    SBJ GR         7,396.8    (1,697.7)      46.6
SCIENTIFIC GAM-A   SGMS US        8,615.1      (980.8)     655.1
SCIENTIFIC GAM-A   TJW GR         8,615.1      (980.8)     655.1
SEARS HOLDINGS     SEE TH        13,186.0      (906.0)   2,092.0
SEARS HOLDINGS     SHLD US       13,186.0      (906.0)   2,092.0
SEARS HOLDINGS     SEE GR        13,186.0      (906.0)   2,092.0
SECTOR 5 INC       SECT US            0.0        (0.0)      (0.0)
SILVER SPRING NE   9SI TH           529.8       (99.3)     (31.1)
SILVER SPRING NE   9SI GR           529.8       (99.3)     (31.1)
SILVER SPRING NE   SSNI US          529.8       (99.3)     (31.1)
SIRIUS XM CANADA   XSR CN           293.1      (143.4)    (185.6)
SIRIUS XM CANADA   SIICF US         293.1      (143.4)    (185.6)
SOLAZYME INC       S7Y TH           209.0       (19.5)     120.5
SOLAZYME INC       SZYM US          209.0       (19.5)     120.5
SOLERA HOLDINGS    SLH US         3,754.7       (10.8)     378.4
SOLERA HOLDINGS    BXS GR         3,754.7       (10.8)     378.4
SPORTSMAN'S WARE   SPWH US          325.9       (24.2)      81.4
SPORTSMAN'S WARE   06S GR           325.9       (24.2)      81.4
STINGRAY - SUB V   RAY/A CN         128.2       (17.8)     (41.0)
STINGRAY DIG-VSV   RAY/B CN         128.2       (17.8)     (41.0)
SUN BIOPHARMA IN   SNBP US            -           -          -
SUPERVALU INC      SJ1 TH         4,612.0      (511.0)     (42.0)
SUPERVALU INC      SJ1 GR         4,612.0      (511.0)     (42.0)
SUPERVALU INC      SVU* MM        4,612.0      (511.0)     (42.0)
SUPERVALU INC      SVU US         4,612.0      (511.0)     (42.0)
SYNERGY PHARMACE   SGYPEUR EU       144.0       (27.1)     123.4
SYNERGY PHARMACE   S90 GR           144.0       (27.1)     123.4
SYNERGY PHARMACE   SGYP US          144.0       (27.1)     123.4
THERAVANCE         THRX US          437.6      (323.0)     212.5
THERAVANCE         HVE GR           437.6      (323.0)     212.5
THRESHOLD PHARMA   THLD US           64.0       (30.9)      38.0
THRESHOLD PHARMA   NZW1 GR           64.0       (30.9)      38.0
TRANSDIGM GROUP    T7D GR         8,427.0    (1,038.3)   1,173.7
TRANSDIGM GROUP    TDG US         8,427.0    (1,038.3)   1,173.7
TRINET GROUP INC   TNET US        1,609.6       (14.1)      54.4
TRINET GROUP INC   TN3 GR         1,609.6       (14.1)      54.4
UNISYS CORP        USY1 GR        2,097.9    (1,451.3)     124.7
UNISYS CORP        USY1 TH        2,097.9    (1,451.3)     124.7
UNISYS CORP        UISCHF EU      2,097.9    (1,451.3)     124.7
UNISYS CORP        UIS1 SW        2,097.9    (1,451.3)     124.7
UNISYS CORP        UISEUR EU      2,097.9    (1,451.3)     124.7
UNISYS CORP        UIS US         2,097.9    (1,451.3)     124.7
VECTOR GROUP LTD   VGR GR         1,398.8       (56.8)     457.4
VECTOR GROUP LTD   VGR US         1,398.8       (56.8)     457.4
VENOCO INC         VQ US            403.8      (354.3)     195.7
VERISIGN INC       VRSN US        2,577.3    (1,031.4)     (38.8)
VERISIGN INC       VRS GR         2,577.3    (1,031.4)     (38.8)
VERISIGN INC       VRS TH         2,577.3    (1,031.4)     (38.8)
VERIZON TELEMATI   HUTC US          110.2      (101.6)    (113.8)
VERSEON CORP       VSN LN             -           -          -
VIRGIN MOBILE-A    VM US            307.4      (244.2)    (138.3)
W&T OFFSHORE INC   WTI US         1,600.0      (475.8)    (136.4)
W&T OFFSHORE INC   UWV GR         1,600.0      (475.8)    (136.4)
WEIGHT WATCHERS    WW6 GR         1,395.2    (1,337.7)    (193.6)
WEIGHT WATCHERS    WTWEUR EU      1,395.2    (1,337.7)    (193.6)
WEIGHT WATCHERS    WW6 TH         1,395.2    (1,337.7)    (193.6)
WEIGHT WATCHERS    WTW US         1,395.2    (1,337.7)    (193.6)
WEIGHT WATCHERS    WW6 QT         1,395.2    (1,337.7)    (193.6)
WEST CORP          WT2 GR         3,556.9      (595.5)      (6.6)
WEST CORP          WSTC US        3,556.9      (595.5)      (6.6)
WESTERN REFINING   WR2 GR           412.0       (28.1)      66.3
WESTERN REFINING   WNRL US          412.0       (28.1)      66.3
WINGSTOP INC       EWG GR           117.2       (14.3)       3.6
WINGSTOP INC       WING US          117.2       (14.3)       3.6
WINMARK CORP       GBZ GR            46.8       (36.0)      11.1
WINMARK CORP       WINA US           46.8       (36.0)      11.1
WYNN RESORTS LTD   WYR TH         9,981.2       (60.8)   1,234.7
WYNN RESORTS LTD   WYNN* MM       9,981.2       (60.8)   1,234.7
WYNN RESORTS LTD   WYNN US        9,981.2       (60.8)   1,234.7
WYNN RESORTS LTD   WYNNCHF EU     9,981.2       (60.8)   1,234.7
WYNN RESORTS LTD   WYR GR         9,981.2       (60.8)   1,234.7
WYNN RESORTS LTD   WYNN SW        9,981.2       (60.8)   1,234.7
WYNN RESORTS LTD   WYR QT         9,981.2       (60.8)   1,234.7
XERIUM TECHNOLOG   XRM US           570.2      (107.3)      71.1
XERIUM TECHNOLOG   TXRN GR          570.2      (107.3)      71.1
YRC WORLDWIDE IN   YRCW US        1,964.8      (427.3)     197.3
YRC WORLDWIDE IN   YEL1 GR        1,964.8      (427.3)     197.3
YRC WORLDWIDE IN   YEL1 TH        1,964.8      (427.3)     197.3


                            *********

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 ***